15 亿美元 Bybit 遭黑客攻击后，场外交易面临大规模冻结的风险

以太坊价格今年一直大幅下跌，成为表现最差的主要加密货币之一。 以太坊 (ETH) 已连续三周下跌，跌至 2023 年 3 月以来的最低水平。其价值已从 11 月的峰值下跌了一半以上，投资者损失了数十亿美元。本文使用关键图表分析了正在进行的以太坊价格暴跌。 现货以太坊 ETF 出现大量资金流出 ETH 价格暴跌的原因之一是现货 ETF 今年出现大量资金流出，表明美国需求疲软。下图显示，这些基金在过去连续六周出现净流出。这些基金目前的净流入量仅为 23 亿美元，而比特币的净流入量为 350 亿美元。这表明投资者对比特币的偏好远远高于 ETH。 Spot ETH ETF outflows | Source: SoSoValue Ethereum no longer leads in fees For a long time, Ethereum was the most profitable chains in the crypto industry as it dominated industries like DeFi,gaming, non-fungible tokens, stablecoins, and Real world Asset tokenization. This performance has changed this year, and the network has been overtaken by other popular chains.  下图显示，以太坊今年产生的费用为 2.27 亿美元。相比之下，Tether 的收入为 13 亿美元，Solana 为 3.76 亿美元，Tron 为 8.8 亿美元，这主要归功于它们与稳定币相关的活动。Jito 和 Uniswap 等平台的总费用也超过了以太坊。 ETH 网络费用 | 来源：TokenTerminal 你可能还喜欢：在 Ripple 利好消息推动下，XRP 价格形成十字星，涨势将是短暂的 开发活动下降 On-chain data also indicates that Ethereum’s developer activity has declined in recent months. This drop is likely due to developers migrating to other fast-growing chains such as Solana, Sonic, and Berachain. Many have also shifted focus to Ethereum’s layer-2 solutions like Base, Arbitrum, and Optimism, which offer faster speeds and lower transaction costs. Ethereum development activity | Source: Santiment Ethereum price formed a triple-top pattern From a technical perspective, Ethereum has fallen sharply after forming a bearish triple-top pattern on the weekly chart. This formation consists of three peaks at around $4,062 and a neckline at $2,132 — a key support level last tested on August 5. ETH has now broken below this neckline, confirming the bearish signal. It has also fallen beneath both the 50-week and 100-week moving averages. As a result, the next downside target could be $1,000. ETH price chart | Source: crypto.news Summary 以太坊在 2025 年经历了大幅下跌，11 月份 10,000 美元的投资变成了仅 3,650 美元。疲软的基本面和负面技术指标表明未来几个月可能会进一步下跌。 你可能还喜欢：以太坊将实现即时确定性？Vitalik Buterin 的路线图旨在让批评者闭嘴

加密货币市场本月面临压力，延续了去年第四季度开始的下行趋势。 比特币（BTC）从 1 月份的 109,300 美元的历史高点跌至 82,000 美元，而以太坊（ETH）则从 11 月份的 4,100 美元跌至 1,800 美元。 其他山寨币也出现回落，Solana (SOL)、Cardano (ADA) 和 Polkadot (DOT) 等蓝筹币较 2024 年的最高水平下跌了两位数。 加密货币的走势与美国股市基本同步，美国股市已进入调整阶段。以科技股为主的纳斯达克 100 指数周一下跌 350 点，跌至 9 月份以来的最低水平。 同样，罗素 2000 指数、标准普尔 500 指数和道琼斯指数也都较今年早些时候的高点下跌了两位数。 另一方面，今年金价继续表现亮眼。金价已连续五周上涨，目前创下 3,120 美元的历史新高。今年以来，金价已上涨逾 20%，而 GLD 和 IAUM 等最大的黄金 ETF 也迎来大量资金流入。 黄金、股票和加密货币市值对比 | 资料来源：TradingView 黄金被视为比加密货币更好的避险资产 金价持续飙升，加上股票和加密货币价格下跌，表明投资者在风险上升的背景下将黄金视为更优越的避险资产。 投资者将唐纳德·特朗普即将到来的解放日关税视为可能导致经济衰退的黑天鹅事件。 特朗普最近几周已经宣布了全面征收关税的计划。上周，他宣布对进口到美国的汽车征收 25% 的关税。他还对从加拿大和墨西哥进口的产品征收了 25% 的关税。 他的“解放日”计划包括对大多数与美国有贸易往来的国家征收互惠关税。他希望这些措施能够刺激国内投资并减少贸易逆差。 然而，问题在于关税实际上就是税收，它可能会减少消费者支出并导致美国经济陷入衰退。 从积极的一面来看，经济衰退可能会促使美联储削减利率并启动量化宽松政策，这可能会推动对股票和加密货币等风险资产的新一轮需求。 此外，特朗普还指望《海湖庄园协议》，该协议旨在让美元贬值，使美国商品在海外更具竞争力。美元贬值将利好黄金、加密货币和股票。

CryptoQuant CEO Ki Young Ju predicts the rise of “dark stablecoins” as government regulations on digital currencies tighten. In a recent social media post, Ju shared why censorship-resistant stablecoins might become necessary as traditional stablecoin issuers face increased scrutiny. According to Ju, while Bitcoin (BTC) was designed to be censorship-resistant by the cypherpunk community, stablecoins currently need centralized management to bridge digital and traditional finance. Dark stablecoins are likely to emerge in the future.#Bitcoin was created by the cypherpunk community to be censorship-resistant and belongs to no one, making it impossible to control.Stablecoins, however, act as a bridge between the internet and the real world, so they need…— Ki Young Ju (@ki_young_ju) May 11, 2025 You might also like:NFT sales rise 10.6% to $115m, Doodles rally 500% Chinese miners use Tether and Circle stablecoins The CryptoQuant executive highlighted that stablecoins like those issued by Tether and Circle have operated with minimal government interference — until now. As per Ju, it has served as a safe haven for various groups including Chinese miners. “Governments, except when tackling money laundering, haven’t really interfered with stablecoins,” noted Ju. Ju predicts that government-issued stablecoins will soon face regulations similar to traditional banking. This could potentially need automatic tax collection through smart contracts and implementing wallet freezes based on government mandates. These changes could drive users who rely on stablecoins for large international transfers to look for alternatives that resist censorship. How? Ju presents two ways: 1. Algorithmic stablecoins that aren’t controlled by governments. 2. Stablecoins issued by countries that don’t censor financial transactions. One technical approach could include decentralized stablecoins that track regulated coins like USD Coin using oracle networks such as Chainlink (LINK). However, Ju stated that he hasn’t yet identified projects that have successfully implemented this model. Interestingly, Ju suggested that USDT could turn into a dark stablecoin if the company opts not to comply with U.S. regulations under future administrations. The CryptoQuant CEO noted that dark assets might present investment opportunities in internet capital markets. Read more:Top cryptocurrencies to watch this week: Ethereum, Pi Network, Solayer

日本第二大银行三井住友银行的母公司三井住友金融集团计划推出自己的稳定币。 根据日经新闻 2025 年 4 月 1 日发布的报道，该稳定币项目将由该银行巨头与加密项目 Avalanche (AVAX) 和 Fireblocks 合作推出。 具体而言，该报告强调，SMBC 正在与 Avalanche 区块链背后的开发团队 Ava Labs 合作。 SMBC 的稳定币合资项目是在 2024 年与三井住友金融集团和另外两家日本金融服务和银行巨头三菱日联金融集团和瑞穗金融集团合作后进行的。据说，合作伙伴正在考虑进行跨境稳定币转移合资企业的试点，该项目将涉及 Progmat 和 Datachain。 你可能还喜欢：日本金融厅批准改革，放宽稳定币和经纪业务监管 日经新闻在最新报告中称，三井住友银行将与日本信息技术公司 TIS 联手。此次合作旨在于 2025 年第四季度或 2026 年初对新的稳定币项目进行试验。如果成功，预计将在今年晚些时候进行实时发行。 与其他银行一样，三井住友银行也转向稳定币来改善功能并实现即时转账，这对于区块链领域来说并不是什么新鲜事。 2019 年 2 月，该银行的技术团队完成了由 R3 开发的 Marco Polo 贸易融资平台支付承诺的区块链概念验证。三井住友银行是德国商业银行、法国巴黎银行、盎格鲁海湾贸易银行、渣打银行和丹麦银行等财团的成员。 在 R3 Marco Polo 贸易计划的支持下，三井住友银行通过另一笔交易进一步进入区块链生态系统。该行试图通过区块链技术将其贸易融资产品数字化，这次是在 2020 年 7 月与新加坡的 Contour 携手合作。 这些努力现已发展成为稳定币的开发，并引起了整个金融服务行业越来越多的关注。其中包括摩根大通和花旗等大型银行，它们在使用许可区块链方面取得了重大进展。 你可能还喜欢：Coinbase 首席执行官呼吁美国允许稳定币计息

由于投资者接受日元作为避险资产的角色，日元兑美元继续强劲上涨。 The USD/JPY exchange rate plunged to 139.92 on Tuesday, its lowest level since September last year and 11.5% below its highest point in 2024. This decline aligns with the broader weakness of the U.S. dollar and a surge in other developed-world currencies such as the euro, British pound, and Swiss franc. The US dollar Index, a popular gauge that weighs its performance against a basket of currencies, fell to $98, its lowest point since April 2022. The ongoing yen rally is having significant ripple effects on equities, Bitcoin, and altcoins. In an X post, BitMEX co-founder Arthur Hayes noted that this performance will push leveraged traders to unwind positions in U.S. stocks and bonds, ultimately leading to higher bond yields. I know Team Trump wants a weaker dollar, but a rapidly strengthening $JPY causes leveraged traders to unwind positions in US stocks and bonds. Thankfully $BTC knows that if bond yields rise, the BBC must print money.Yachtzee 😘😘😘😋😋 pic.twitter.com/9PAY40b2O5— Arthur Hayes (@CryptoHayes) 2025 年 4 月 22 日 目前已有迹象表明这种情况正在发生。美国股市大幅下跌，纳斯达克100指数、标准普尔500指数和道琼斯指数均已进入技术回调区间。 您可能还喜欢：特朗普媒体与 Crypto.com 合作推出数字资产 ETF 据《金融时报》报道，日本投资者已抛售超过200亿美元的国际债券，其中大部分是美国政府债券。这些活动受到密切关注，因为日本是美国国债的最大持有者，持有价值1.1万亿美元的美国国债。 A key driver behind these sales is the strength of the yen and rising bond yields in Japan. The country’s 10-year government bond yield has risen to 1.30%, sharply higher than the lows seen last year. Bitcoin is slowly becoming a safe haven According to Hayes, the surging yen and the plunging US dollar will benefit Bitcoin (BTC) as the Federal Reserve will be forced to print money using quantitative easing.  Meanwhile, there are increasing signs that Bitcoin is gradually evolving into a safe-haven asset. Spot Bitcoin ETFs recorded over $381 million in inflows on Monday, following $107 million on Friday. These inflows coincided with a sharp drop in the Dow Jones Industrial Average, which fell by more than 1,000 points. 比特币今年的跌幅也不足3%，而美国主要股指的跌幅均达到两位数。因此，一些分析师认为，它最终将演变成一种类似于黄金的避险资产。 此举将推高山寨币价格。从历史上看，当比特币繁荣时，以太坊 (ETH)、Solana (SOL) 和 Pepe (PEPE) 等山寨币往往表现良好。 您可能还喜欢：Coinbase 确认正在“积极考虑”申请美国银行牌照