The price of Bitcoin (BTC) has achieved a crucial breakthrough, successfully breaking through the $94,500 mark. As of the time of publication, the real-time quote is $94,504.71. However, over the past 24 hours, BTC has shown a downward trend, with a decline of 0.28%, highlighting the intense market volatility. Investors need to be cautious in managing risks.
According to Coingecko data, as of the latest statistics, the multi-currency market in the cryptocurrency sector has seen a divergence in performance: BTC recently traded at $94,742.05, with a slight intraday decline of 0.1%. Ethereum (ETH) has performed outstandingly. Its recent transaction price is $1,826.95, with an intraday increase of 1.9%. Binance Coin (BNB) recently traded at $607.83, rising by 1.1% within the day. Solana (SOL) recently traded at $149.52, down 1.2% within the day. DOGE was recently traded at $0.1822, with an intraday decline of 0.5%. Ripple (XPR) recently traded at $2.20, rising slightly by 0.4% within the day.
Frequent policy and application developments in the cryptocurrency field
At the policy level, the International Monetary Fund (IMF) pointed out that El Salvador has stopped using public funds to invest in Bitcoin. This news was disclosed by a post and screenshots released by Crypto Rover, a key opinion leader in the crypto field. Meanwhile, Arizona in the United States has taken a significant step forward in its digital asset policy. Two of the state’s Bitcoin reserve bills have been scheduled for their third reading next Monday and are expected to complete the final vote. If the bill is passed smoothly, Arizona will become the first state in the United States to officially establish a Bitcoin reserve. In addition, on Friday night local time, the leadership of the House Financial Services Committee of the United States released a proposal, planning to abolish the independent Public Company Accounting Oversight Board (PCAOB) and incorporate its responsibilities into the U.S. Securities and Exchange Commission. This proposal is intended to be included in the major tax and spending bill currently under review by Congress.
In terms of blockchain applications, the well-known institution a16z Crypto released the analysis article “Airdrops: How to Bring Home”, offering suggestions on the current airdrop strategies for Web3 projects. The article points out that most projects focus too much on short-term user growth and neglect long-term community building and protocol governance. a16z Crypto suggests that project parties design airdrops as a long-term incentive tool. By setting lock-up periods and guiding users to participate in governance, etc., long-term participants can be screened. Airdrops should be used as a means to build a loyal community and realize the long-term value of the protocol, rather than merely a marketing tool.
Hot events keep emerging in the cryptocurrency industry
Recent supply data of Ethereum has drawn attention. Data from Ultrasound.money shows that the net supply of Ethereum increased by 16,913 in the past seven days, among which approximately 18,219 ETH were newly supplied and 1,305 ETH were reduced through the destruction mechanism. The current total supply amounts to 120,715,598 ETH, with an annual supply growth rate of 0.731%. Raullen Chai, co-founder and CEO of IoTeX, has called on governments around the world to incorporate decentralized Physical infrastructure Network (DePIN) tokens into their digital asset reserve strategies. He believes that DePIN represents a new paradigm for infrastructure development, and its inclusion in national reserves can bring multiple benefits such as creating a self-sustaining economy and hedging against inflation. The market capitalization of stablecoin Tether has broken through, surpassing heavy industrial equipment manufacturing giant Caterpillar and climbing to the 121st place in the global asset market capitalization ranking. Its current market capitalization is 147.18 billion US dollars, with a 7-day increase of 0.05%.
However, Loopscale, the on-chain lending protocol of Solana, suffered a security attack. Its RateX PT token pricing function was manipulated, resulting in approximately 5.7 million USDC and 1,200 SOL being stolen from the vault. At present, all markets under this agreement have suspended trading. The team is cooperating with multiple parties to investigate and recover funds. The scope of affected depositors is clear, and borrowers and revolving loan users have not been affected.
Updates on important international economic dynamics
US President Trump has made consecutive statements on economic and trade as well as geopolitical issues. On the 25th local time, Trump said on Air Force One that the United States would not lift the additional tariffs imposed on China unless China made substantive concessions. Previously, the US side’s statements on the tariff issue were chaotic. On the same evening, a spokesperson for the Chinese Embassy in the United States emphasized that China and the United States had not held consultations or negotiations on the tariff issue. In addition, Trump made statements on social media regarding the Russia-Ukraine conflict, saying that Russian President Putin should not attack civilian areas and consider responding through financial sanctions. He also criticized The New York Times for its evaluation of the Russia-Ukraine issue related agreements.
The Russian side has also sent out positive signals. According to Interfax news Agency, Russian President Putin confirmed during his meeting with US special Envoy Vitkov that Russia is prepared to negotiate with Ukraine without any preconditions. Russian presidential assistant Ushakov disclosed that the three-hour meeting was constructive, and the two sides discussed the possibility of resuming direct negotiations between Russia and Ukraine.
In terms of monetary policy expectations, CME FedWatch data shows that the market expects the probability of the Federal Reserve cutting interest rates by 25 basis points in May to be 10.4%, while the probability of keeping interest rates unchanged is as high as 89.6%.
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