BTC、ETH、XRP、山寨币价格面临风险：纳斯达克 100 指数失去关键支撑

Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. Let’s talk about centralized exchanges, or as I like to call them: Wall Street cosplaying their way into web3. These aren’t crypto-native platforms—they’re TradFi institutions in hoodies, playing dress-up while running the same old playbook.  You might also like:How to build a 1B TPS blockchain without decentralization, security, or shame | Opinion For years, CEXs have perfected the art of fee collection—raking in billions in trading revenue while giving nothing back to the users who fuel their business. No tokens. No dividends. Not even a thank-you meme.  Binance, by far the top exchange by 24-hour volume, currently sees about $14.2 billion in normalized (!) trading volumes daily. The exchange’s standard fee for users who trade under $1 million a month is 0.1%. So, doing some quick math, that’s a daily revenue for Binance of roughly $14 million. Their business model is deceptively elegant in its simplicity: you trade, they win. You lose (often), they still win. It’s like walking into a casino that charges you a cover fee, keeps your chips when you lose, and then asks you to tip the dealer for good vibes. The house never loses, and the players? They never get a seat at the table. Enter DEX 2.0—the rebellious younger sibling with a cause. These next-generation decentralized exchanges aren’t content with surface-level decentralization or flashy multichain integrations. They’re doing something far more radical: reprogramming the economics of the exchange itself. Instead of building platforms where the house always wins, they’re building ecosystems where everyone wins. By distributing protocol revenue directly to users and liquidity providers, DEX 2.0 protocols are turning what was once a rent-seeking model into a community-owned, value-sharing engine. This isn’t just an interface upgrade—it’s a philosophical shift toward user empowerment. Looking at examples Two of the top-10 derivatives DEXs, GMX and dYdX, are currently setting a strong example for the category.  Take GMX. Its model allows stakers and LPs to earn a portion of the protocol’s trading fees, effectively turning passive users into revenue partners. This shift in incentives has helped foster a deeply loyal community, not just traders chasing token pumps, but stakeholders invested in the protocol’s success.  Another DEX 2.0 example would be dYdX, which is undergoing a similar metamorphosis, transitioning from a foundation-led model into a fully decentralized DAO where fees are redistributed and governance is truly community-led.  Meanwhile, emerging players like Pairs are pushing the boundaries even further, experimenting with streamlined incentive architectures designed to maximize alignment between builders, users, and liquidity providers (and that’s all I can say here!). What unites these experiments isn’t the tech stack or tokenomics. It’s a simple, powerful idea: align incentives and watch the flywheel turn. Protocols that share value grow stronger. Builders get long-term users, not just yield-chasers. Traders earn real yield, not the kind of speculative APRs that evaporate in a week, but sustainable, fee-derived income.  And liquidity providers can stop acting like mercenaries hopping from farm to farm. Instead, they become co-owners, sticking around for the upside they helped create. That level of commitment can’t be bought with bribes—it has to be built with trust and shared value. The tradeoffs Of course, none of this is without tradeoffs. Profit-sharing at the protocol level isn’t as easy as flipping a switch. Regulatory clarity is still a far-off dream—no one can agree whether these revenue-sharing tokens are securities, loyalty points, or just really ambitious memes. Designing against Sybil attacks is an endless cat-and-mouse game. KYC and compliance needs are growing, not shrinking. And every incentive system, no matter how well-designed, is vulnerable to gaming, manipulation, or outright exploitation. On top of that, building sustainable flywheels takes time. It’s not enough to simply distribute tokens and hope people stick around. Governance needs to be earned, incentives tested, and mechanisms constantly refined.  But despite all this, the DEX 2.0 model feels more honest. More aligned. More human. It gives users not just access, but agency—a real sense of ownership over the tools they use every day. Because this shift isn’t just about flashier frontends or tighter spread execution, it’s a reimagination of what an exchange can be. This is the DeFi version of a dividend-paying stock, except here, the dividend is on-chain, and the shareholders are also the governors. It’s a world where being a user means being a stakeholder. Where your loyalty is rewarded not with swag or platitudes, but with a tangible share of the upside. Ownership no longer requires being an insider—just participation. And let’s face it: in a financial world where TradFi is racing to tokenize every asset class except their own profit margins, and CEXs are one exploit or mismanagement crisis away from becoming the next FTX, DEX 2.0 protocols are asking the only question that matters: What if the people who use the product actually owned the product? Revolutionary, I know. But maybe—just maybe—the original promise of crypto wasn’t just yield farming, leveraged bets, or memecoins. Maybe it was this: replacing extraction with participation. Realigning power away from middlemen and toward the people who actually create value. And in that world—in that model—everybody eats. Read more:Decentralized but not defenceless: Crypto needs a crisis manual | Opinion Kelghe D’Cruz Kelghe D’Cruz, founder of Pairs.xyz, is a builder and entrepreneur with over a decade at the frontier of digital assets and decentralized technologies. Before leading Pairs, Kelghe founded successful ventures in blockchain mining, education, and software development, delivering custom tech solutions for major institutions across North America. At Pairs, he brings a deep belief in real ownership, transparent finance, and decentralized markets—leading the charge to create a faster, fairer trading experience for all.

在查尔斯·霍斯金森 (Charles Hoskinson) 为该网络及其代币辩护后，卡尔达诺在关键支撑位处于窄幅区间。 卡尔达诺 (ADA) 的交易价格为 0.80 美元，较去年 12 月的最高水平下跌了 40％以上。 在其创始人霍斯金森在 YouTube 的一次长篇采访中猛烈抨击以太坊和 Solana 后，该代币开始波动。在采访中，他指出，其最大的差异化因素是它正在努力与比特币整合——他认为这是一个尚未开发的 2 万亿美元机会。他说： “有人会破解它。我们将努力工作，因为我们的目标是成为比特币网络的去中心化金融或 DeFi 层。我不认为以太坊 (ETH) 和 Solana (SOL) 具备实现这一目标的能力。” 在 Cardano 宣布与 BitcoinOS 建立合作关系几个月后，Hoskinson 接受了采访。 预计这一整合将在未来几个月内启动。 Cardano 并不是第一个创建比特币层的区块链。Core 是比特币生态系统的第二层，已吸引 53 名开发人员，总锁定价值达 6.26 亿美元。Stacks (STX) 拥有 12 个 dApp 和 1.04 亿美元的资产。 你可能还喜欢：纳斯达克 100 指数、标准普尔 500 指数和 SCHD 指数下跌，比特币价格持稳 霍斯金森还批评以太坊推广第 2 层网络，这抢走了它的用户。Base、Arbitrum 和 Optimism 等 L2 网络已成为以太坊网络的关键参与者，处理着价值数十亿美元的交易。这些 L2 网络之所以受欢迎，是因为它们的交易费用较低，而且它们利用了以太坊的安全性。 他还严厉批评了 Cardano 的热门竞争对手 Solana，认为它无法生存，尤其是在其生态系统中移动的数据激增时。 霍斯金森的采访是在他所谓的 VIP 会议前一周进行的。加密货币分析师预计，出席会议的将是 X 所有者埃隆·马斯克。 卡尔达诺价格预测 ADA 价格图表 | 来源：crypto.news 周线图显示，ADA 价格在去年 11 月达到 1.32 美元的峰值，随后回落。其上方是关键水平，因为它与 38.2% 斐波纳契回撤水平相吻合。 卡尔达诺随后回落至 0.524 美元，形成艾略特波浪模式的第二阶段。此阶段通常紧随其后的是第三阶段，通常是看涨的，也是最长的。 你可能还喜欢：主网启动后 Pi Network 价格暴跌的 4 个原因 卡尔达诺仍高于 50 周移动平均线，这表明多头占据主导地位。因此，随着多头瞄准去年的高点 1.32 美元（比当前水平上涨 70%），该代币可能会反弹。 你可能还喜欢：加密货币行业支持 Bybit，应对 14 亿美元违约事件

2 月 3 日，加密货币市场遭遇严重下跌，24 小时内超过 23 亿美元的杠杆加密货币头寸被清算。另一种估计指出，加密货币清算金额达到 80 亿至 100 亿美元。这次下跌是否创下了历史新高？ 许多加密货币影响者称 2 月 3 日的加密货币崩盘是历史上最严重的一次，称其比 FTX 和 Terra Luna 崩盘更严重，甚至说它比与 COVID 相关的暴跌更为严重，后者导致比特币在一天内贬值超过 50%。 20 亿美元清算！！比 FTX 和 COVID 期间更多！！！！别忘了！市场已经清理干净了！大反弹几乎不可避免！— MMCrypto (@MMCrypto) 2025 年 2 月 3 日 哪次加密货币崩溃实际上是最糟糕的？ 对于哪次崩盘最为严重的看法可能因所使用的方法而异。看看 BTC 的价格下跌，我们可以得出结论，一天内损失超过 50% 比 2025 年 2 月 3 日发生的 13% 的下跌要严重得多。一些专家认为，2025 年 2 月崩盘时清算的杠杆加密资产的数量高于 2020 年。然而，我们没有足够可靠的数据来判断这是否属实。 阅读更多：特朗普关税是否会导致加密货币崩盘？Virtuals Protocol、Bittensor、Neo、Jasmycoin 位列落后者之列 2022 年与 Terra Luna 稳定币崩溃和 FTX 交易所关闭相关的危机在清算方面比 2020 年更为严重，尽管它们并没有看到 BTC 价格在 24 小时内缩水。 尽管许多新闻媒体声称最近的暴跌导致超过 20 亿美元的杠杆加密货币清算，但 Bybit 首席执行官 Ben Zhou 在 X 上表示，仅 ByBit 就经历了 21 亿美元的清算。周估计整个市场的清算额为 80 亿至 100 亿美元。如果他是对的，那么总清算金额可能比 COVID、Terra Luna 和 FTX 关闭清算的总和还要大。 恐怕今天实际的总清算额远不止 20 亿美元，据我估计至少应该在 80-100 亿美元左右。仅 Bybit 24 小时清算额就达到 21 亿美元，正如您在下面的屏幕截图中看到的那样，Coinglass 上记录的 Bybit 24 小时清算额约为 3.33 亿美元，然而……https://t.co/4WLkPxTYF4 pic.twitter.com/woTOHQvNkt— Ben Zhou (@benbybit) 2025 年 2 月 3 日 至于早期的比特币价格暴跌，2011 年、2013 年和 2017 年都出现了大幅下跌；然而，由于缺乏有关这些市场崩盘的可靠数据，因此无法将这些动荡与 2020 年代发生的动荡进行充分比较。 2011 年上半年，BTC 价格从 2 美元涨至 32 美元。6 月，当时最大的加密货币交易所 Mt. Gox 遭到黑客攻击后，价格跌至 20 美元以下，暴跌至 0.01 美元。 一些人认为这是 BTC 价格最严重的一次下跌。尽管价格大幅下跌，但由于没有抵押 BTC 交易，避免了严重损失。然而，Mt. Gox 用户的资金受到了影响。一年内，价格突破 10 美元，并在 2013 年完全恢复。 《富爸爸穷爸爸》的作者罗伯特·清崎称这次崩盘是残酷的。然而，他提醒我们，世界上最好的资产（黄金、白银、房地产、比特币、股票和债券）正在出售，这是致富的最佳时机。 现在正发生残酷崩盘。股票、债券、房地产、黄金、白银和比特币市场正在崩盘。世界上最好的资产正在出售。数百万人将失去工作。这是致富的最佳时机。 [新帖] 比特币是我们都需要的避险资产去年，许多人错误地声称比特币不是避险资产。现在我们可以看到，比特币实际上是危机期间投资者最好的避险资产。https://t.co/Q9aq9EBz4M— Anthony Pompliano 🌪 (@APompliano) 2021 年 3 月 15 日 FTX 关停后，BTC 在短短几天内贬值了约四分之一。经过短暂的动荡时期后，价格开始再次上涨，在两个半月内完全恢复，并在暴跌后的 13 个月内翻了一番。5 月份 Terra Luna 稳定币崩盘引发了 BTC 价格更长时间的下跌。比特币花了 8 个多月的时间才完全恢复。 Binane 首席执行官 Richard Teng 在 X 上提醒社区，这次灾难性的抛售不是第一次，也不会是最后一次，并指出 BTC 的整体走势是上升的，不考虑周期性的大幅下跌。不过，Teng 也面临强烈反对。一些 X 用户批评币安上架毫无价值的 meme 币，并称该交易所是问题的一部分。然而，meme 币热潮的影响是另一个话题。“这一切都会过去”的情绪（Teng 发布的话）是加密社区目前的主流。

山寨币价格出现反弹，因为在最近的加密货币黑色星期一大部分山寨币暴跌之后，一些投资者逢低买入。 Pepe (PEPE)、Solana (SOL)、JasmyCoin (JASMY) 和 Bonk (BONK) 等热门代币较周一的最低水平上涨了两位数。 流行的以太坊 (ETH) 模因币 Pepe 上涨至 0.0000065 美元，而 SOL、JASMY 和 BONK 则上涨了两位数。 这些山寨币上涨的主要原因有三个。首先，人们希望美国采取行动与其他国家进行谈判。尽管与中国的紧张关系加剧，但特朗普暗示与以色列、日本和越南的贸易谈判取得了进展。 你可能还喜欢：特朗普威胁对中国提高历史性关税 加密货币市场紧张不安 这些希望导致市场参与者产生风险偏好情绪，这也解释了股市上涨的原因。与道琼斯指数和标准普尔 500 指数挂钩的期货均飙升超过 2%，抹去了过去几天的部分损失。 美联储降息几率上升，佩佩、贾斯米、索拉纳和邦克均上涨 其次，随着华尔街分析师上调对美联储降息时间的预测，这些山寨币价格出现上涨。在上次会议中，美联储官员预计今年将降息两次，而杰罗姆·鲍威尔在周五的声明中表示，他不会急于采取行动。 The market, however, now predicts that the bank will deliver more cuts later this year. The closely-watched CME FedWatch tool places the odds of a cut in May at 30%, up from under 20% last week. Goldman Sachs estimates that the bank will deliver three cuts in the second half of the year. On Monday, a JPMorgan analyst warned that the Fed could move as early as May. Morgan Stanley analysts have also warned that Trump’s tariffs will jeopardize the growth outlook for the economy and push for more cuts. The bank estimates at least three cuts this year.  当美联储降息时，Solana、Pepe、Jasmy 和 Bonk 等山寨币表现良好。 第三，反弹可能是死猫反弹的一部分，即下跌市场中的短暂复苏，随后很快恢复下跌趋势。这种价格行为也被称为牛市陷阱。 此外，在华尔街小公司 Janover 更换管理层并开始增持该代币后，Solana 也获得了收益。该公司从 Pantera、Kraken、Arrington Capital 和 Norstar Group 等公司筹集了 4200 万美元。其目标是成为业内最大的区块链之一 Solana 的 MicroStrategy。 你可能还喜欢：高盛、贝莱德和花旗发出警告 比特币和山寨币面临风险

Mintable is set to launch NFT collectibles as part of its interactive Eco Trail Treasure Hunt ahead of the country’s annual Youth4Climate Festival 2025, as part of the Singapore Sustainability Festival. The Singaporean NFT marketplace is preparing to launch five unique NFTs that visitors can collect by participating in a blockchain-based card game held at City Square Mall on Kitchener Road, Singapore. The Eco Adventure card game will run alongside the Singapore Sustainability Festival, scheduled from June 6 to June 8. During the festival’s run, participants will be able to collect digital badges that they can obtain by scanning eco-friendly installations throughout the mall and completing mini sustainability lessons. Once completed, participants will be able to collect up to five unique NFT collectibles dubbed “Green Stop” NFTs without prior web3 knowledge needed. Partnering with City Developments Limited, the Singapore Innovation Centre, the Asia Blockchain Association, and the Sustainability Alliance, Mintable’s B2B utility NFT arm, Mintology, will power the Eco Adventure card game using blockchain. The initiative leverages the project’s gasless NFT infrastructure. Mintable partners with Go Green SG in this year’s Singapore Sustainability Festival, through City Developments Limited (CDL)’s Youth4Climate Festival 2025 | Source: Mintable PR You might also like: Mintable CEO Zach Burks sees the joint campaign with Go Green SG as an opportunity to engage young people and spark interest in sustainability. The program also introduces them to web3 technology, including NFTs, by taking a “balanced approach” and promoting healthy attitudes toward digital innovation. “We are excited by the potential of the gasless minting technology deployed into the treasure hunt and will continue working with key government bodies to build future solutions that help everyday individuals better interact with the world around them,” said Burks. The mini sustainability lessons cover topics such as upcycling workshops, materials exploration, the importance of trees, and the impact of visual upcycled art in society. All lessons are designed to be kid-friendly and interactive, integrating Mintable’s web3 technology with real-world engagement. Participants who collect all five NFTs will be eligible to enter the festival’s lucky draw for a chance to win prizes. The joint campaign aims to demonstrate how NFTs can be seamlessly integrated into government-supported green initiatives while boosting the adoption of web3 technology. According to the country’s Independent Reserve Cryptocurrency Index 2025, crypto ownership in Singapore has fallen by 11%. A survey conducted by Independent Reserve Singapore found that nearly 50% of crypto investors have sold their holdings in the past year, with 67% of them making a profit. You might also like:Crypto ownership falls sharply in Singapore as half of holders sell in 2024, data shows