Coinbase Research Director: Technology demand for crypto-stock will support the market in the short term

David Duong, head of research at Coinbase, tweeted, "We believe that the technology demand for crypto treasury will provide sustained support for the crypto market in the short term, but the DAT (Digital Asset Treasury) phenomenon has reached a critical turning point. We are no longer in the early adoption stage of the past 6-9 months, but we don't think it's coming to an end. Instead, we have entered the so-called PvP stage. This is a competitive stage, and success is increasingly determined by execution, differentiation and timing, rather than simply copying the Strategy script."