Author: 行政
Bitcoin’s network activity has been weakening for six straight months, but the decline is not showing up in the headline metric many traders watch first.The clearer signal is not transaction volume, which has held up, but participation breadth. Fewer unique addresses are active on the chain, even as the network continues to process a similar number of transactions.In a market where price discovery is increasingly happening through exchange-traded funds and derivatives, that split matters. It suggests Bitcoin’s on-chain footprint is narrowing even while market exposure remains active elsewhere.The trend has become harder to ignore as the bear market has dragged…
US President Donald Trump has announced his previously announced global tariffs will be hiked from 10% to 15%, effective immediately. Trump unveiled a new global tariff to apply to all countries on Friday after the US Supreme Court struck down many of the previous tariffs as illegal. The new tariffs face several legal limitations likely to limit their effectiveness including a maximum duration of 150 days, a maximum rate of 15% and limits on which countries they can be imposed on. US President and noted tariff enthusiast, Donald Trump, on Saturday hiked the 10% global tariffs he introduced just a…
Nik Pash, an OpenAI employee and former Cline executive, funded an automated trading bot called “Lobstar Wilde” with $50,000 worth of Solana. After an X user requested 4 SOL for a “tetanus treatment,” the bot accidentally transferred its entire holdings instead of the requested small amount. The recipient sold the tokens for approximately $40,000 due to liquidity issues, though the assets were valued at $250,000 at the time of the transfer and later rose to over $420,000. This is arguably one of the funniest stories in crypto recently due to how absurd it is, though not uncommon in this space…
Ethereum developers have scheduled the “FOCIL” upgrade (EIP-7805) for late 2026 to enhance censorship resistance by requiring validators to include transactions from public lists. The update aims to prevent large validators from blocking specific transactions, ensuring “neutral blockspace” even as the network becomes more centralised. While supported by figures like Vitalik Buterin, critics argue the change could create legal risks for validators regarding sanctioned entities like Tornado Cash. Ethereum (ETH) devs have scheduled Fork-Choice Enforced Inclusion Lists (FOCIL) as the main consensus-layer change for the network’s planned Hegota upgrade, targeted for the second half of 2026. The point of FOCIL…
Bitdeer Technologies has liquidated its entire corporate Bitcoin treasury, reporting zero BTC held as of February 20, 2024. The firm sold 189.8 BTC produced during the week plus its remaining 943.1 BTC reserve to fund data center expansion and a shift toward AI. This exit contrasts with major peers like MARA and Riot, occurring as mining margins drop due to rising network difficulty and a 40% decrease in Bitcoin’s price. Bitdeer Technologies is the latest firm that has called it quits and sold off its entire corporate Bitcoin treasury, reporting zero BTC held as of Feb. 20 in a weekly…
XRP saw its largest weekly realised loss since 2022, with holders locking in $1.93 billion in on-chain losses as they sold below their purchase prices. Analysts suggest this “capitulation” event could signal a price floor, as a similar spike 39 months ago was followed by a 114% rally over the following eight months. Demand for XRP ETFs has stalled after a strong start to 2025, contributing to a recent 10% price drop as new investment into the funds flattened. XRP recorded its largest weekly realised-loss spike since 2022, with about US$1.93 billion (AU$2.95 billion) in losses realised on-chain over a…
Egorov argues that internal disagreement indicates active participation rather than instability in decentralised governance systems. A disputed US$6.3m grant and a later 80% turnout vote illustrate how contention can drive engagement. A separate Aave conflict highlights unresolved tensions around fee flows, IP ownership and legal standing. Michael Egorov, founder of Curve Finance, has argued that disagreement within decentralised autonomous organisations (DAOs) is a sign of health rather than dysfunction. DAOs operate through smart contracts and member voting to oversee onchain protocols, forming a decentralised governance structure distinct from traditional companies. Egorov said that when proposals pass without resistance, it often…
Spot Bitcoin ETFs gave the market a clean, daily scoreboard: a green print meant fresh cash crossing the boundary from traditional brokerage accounts into Bitcoin exposure, and a red print meant the opposite.For much of the first year of spot ETFs in the US, that scoreboard tracked sentiment and set the market’s tempo. Traders learned to treat flows as the simplest proxy for a real bid, because the buyer was observable, usually price-insensitive, and large enough to matter.But that habit is now getting seriously stress-tested.The risk in this phase now comes from flat days, because the cushion disappears without a…
A Trump-linked crypto firm is bringing the former president’s brand into the structured credit market.World Liberty Financial plans to tokenize loan-revenue interests tied to the Trump International Hotel and Resort Maldives, offering investors exposure to projected interest payments connected to the project’s financing rather than ownership of the property itself.With the completion date set for 2030, the deal converts future debt service into a digital security and places the current President’s name at the center of a regulated financial product.Put simply, investors will be buying a slice of a resort loan’s interest payments rather than buying any part of the…
Bank of America’s latest market call reads less like a typical bear forecast and more like a structural warning about what happens when markets stop paying premium multiples, even if profits keep growing.The firm argues that the S&P 500 remains “statistically expensive” on 18 of 20 valuation metrics, with four near-record highs, and expects P/E compression despite forecasting robust 14% earnings growth.That setup of strong fundamentals meeting falling multiples creates a textbook risk-off problem for Bitcoin, which has increasingly traded as a high-volatility equity beta rather than the diversifier narrative that dominated crypto’s early institutional pitch.The mechanics matter because BofA…