代币化证券正在重新定义合规性 | 观点

The U.S. Senate voted 68-30 on Wednesday to invoke cloture on the GENIUS Act, a major stablecoin bill, paving the way for a final floor vote scheduled for next Monday. If passed, the bill could set the first national regulatory framework for stablecoins in the United States. The GENIUS Act—short for theGuiding and Establishing National Innovation for US Stablecoins—requires stablecoin issuers to maintain 100% reserves, submit to annual audits if they hold over $50 billion in market cap, and adhere to rules for foreign issuers. It could serve as a benchmark for stablecoin regulation in the U.S. financial system. Senate Majority Leader John Thune spoke in favor of the bill, aligning with President Donald Trump’s stance on digital assets. “We want to bring cryptocurrency into the mainstream, and the GENIUS Act will help us do that,” Thune said. However, not all lawmakers were on board. Senator Elizabeth Warren criticized the bill for failing to address bipartisan amendments and warned of the political risks linked to Trump’s crypto dealings. “By passing the GENIUS Act, the Senate is not only about to bless this corruption, but to actively facilitate its expansion,” she said, referencing Trump’s ties to a crypto platform backed by his family. You might also like:Nigerian government issues fresh warning against CBEX Crypto exchange  Crypto’s ‘pivotal shift’  Industry leaders say the bill could unlock new institutional participation. Yuval Rooz, CEO of blockchain firm Digital Asset, called it a “pivotal shift” in crypto regulation. “The passage of the GENIUS Act marks a long-awaited shift from regulation by enforcement to regulation by clarity,” Rooz said in a note obtained by crypto.news. “It provides banks with a clear framework to confidently engage with stablecoins, unlocking stalled strategies by ensuring full reserves, regular audits, and substantive consumer protections.” Rooz emphasized that “regulation alone isn’t enough,” highlighting the importance of privacy and control. “These aren’t optional features; they are foundational to institutional trust,” he added. As the Senate prepares for Monday’s final vote, the GENIUS Act’s fate could shape the future of U.S. crypto policy—and influence how stablecoins are used in both traditional and decentralized finance. You might also like:Can Solana break past $176 after 17% surge?

Pepe price retreated on Saturday, May 24, mirroring the performance of Bitcoin and other altcoins.  Pepe (PEPE), the second-biggest Ethereum (ETH) meme coin, dropped to $0.000014, down by 14% from its highest point this week. The retreat happened as market risks increased on Friday following Donald Trump’s threat to impose higher tariffs on European goods and Apple products. Subsequently, the market capitalization of all cryptocurrencies dropped from over $3.5 trillion on Friday to $3.4 trillion on Saturday. Pepe has also retreated as on-chain data shows that the supply held by whales continued falling this week. Santiment data shows that whales hold about 141.2 trillion coins valued at $1.4 billion, down from 165 trillion in February. Their current holdings is the smallest it has been since November last year.  Pepe whales | Source: Santiment More data by Nansen shows that smart money investors have been reducing their holdings in the past few months. These investors hold 244 billion worth of Pepe, down from 380 billion a year earlier. Pepe smart money trends | Source: Nansen Nansen defines smart money investors as sophisticated and highly experienced holders who have demonstrated substantial success over time. These investors are normally quick to spot trend reversals. There are also concerns that Pepe balances on exchanges has started rising. There were 252.9 trillion Pepe coins on exchanges on Saturday, up from this week’s low of 251.3 trillion. An increase in these balances is often a red flag since it signals that more investors are moving them from self-custody and selling. Pepe price technical analysis Pepe price chart | Source: crypto.news On the positive side, Pepe has strong technicals, which could draw smart money and whales. The daily chart shows that it is about to form a golden cross pattern as the 200-day and 50-day Exponential Moving Averages near their crossover. This crossover often leads to more gains in the long term.  Pepe has also formed a rounded bottom pattern, which often leads to a continuation. Therefore, these technicals point to more gains in the coming weeks. A move above this week’s high of $0.00001625 will confirm more gains, potentially to a record high of $0.00002840. Read more:AAVE price prepares for 50% surge as rare bullish pattern forms

Every time the Bitcoin Super Signal flashed before, markets surged. Now that it’s back, is it signaling latent momentum. Table of ContentsBitcoin’s quiet volume may be its loudest signal yetDecoding Bitcoin’s Super SignalInstitutional investors are still buying the dip Bitcoin’s quiet volume may be its loudest signal yet Bitcoin’s (BTC) price has eased slightly since reaching a peak of $111,970 on May 22, pulling back to around $103,300 as of June 6, a decline of approx 8%. Bitcoin price chart | Source: crypto.news Despite the drop, institutional appetite appears to remain intact. U.S. spot Bitcoin ETFs recorded around $5.24 billion in net inflows during May, suggesting that investor interest has not diminished with the slowdown in price momentum. Meanwhile, sentiment indicators are showing a neutral picture. The Crypto Fear and Greed Index stands at 46, placing the market in the “Neutral” zone and waiting for further triggers. Amid this, on-chain analyst CryptoCon has highlighted a rare but historically consistent pattern known as the “Bitcoin Super Signal.” The signal is triggered when trading volumes fall to extremely low levels while prices remain in a broader uptrend. A new Bitcoin Super Signal has appeared, which happens when volume reaches extremely low levels inside a bull market.This is the lowest volume reading since 2014.The other super signal this cycle gave us a 200% run from October 2023 to March 2024.Before that, only two other… pic.twitter.com/Zkd4rzDaTi— CryptoCon (@CryptoCon_) June 4, 2025 Based on CryptoCon’s data, current trading volume is at its lowest level since 2014. Only three previous instances have met the same criteria. Each one was followed by a significant bull run. So far, there is no clear evidence that the current cycle has reached a peak. Bitcoin continues to trade within bullish territory, while volume continues to decline. Historically, this combination has preceded sharp upward moves, even if the market appears quiet on the surface. To make sense of what this signal could mean now, we need to look at its previous appearances, how each one played out, and why it tends to emerge when market conditions appear deceptively calm. Decoding Bitcoin’s Super Signal In Bitcoin’s chart history, sharp rallies often emerge after extended periods of low activity. The Volume Oscillator Super Signal is one of the few indicators that captures this pattern by using volume, rather than price, as the leading input. It highlights moments when trading activity drops to historically low levels while the broader trend remains upward. Only four such signals have appeared: December 2012, October 2016, September 2023, and most recently, June 2025. The indicator works by applying a volume oscillator to Bitcoin’s monthly chart. When volume dips below a defined threshold during a bull trend, it signals a shift in market structure. Most sellers have likely exited, and buyers may be accumulating with minimal resistance. From a liquidity perspective, this implies reduced supply pressure. As a result, even moderate demand can push prices higher once market momentum returns. In 2012, the signal appeared when Bitcoin was trading below $15. Over the following year, the price surged more than 10,600%, forming the 2013 bull cycle that brought Bitcoin into mainstream attention. The next instance came in October 2016, when Bitcoin stood near $700. The cycle that followed peaked around $20,000 in late 2017, marking a 3,461% increase from the signal to the cycle top. In both cases, the signal emerged during low-volume periods, not at moments of retail frenzy. Price was climbing steadily, but broader interest had not yet returned. The same pattern repeated in September 2023. Bitcoin was trading around $25,000, volume dropped into the “extreme low” zone, and the market remained cautious due to macro uncertainty. Within six months, Bitcoin reached $75,000, posting a 200% gain.  Institutional investors are still buying the dip The latest Super Signal appeared in June 2025, as the Volume Oscillator dropped into its extreme low zone.  Current readings show the lowest volume level since 2014, despite Bitcoin still trading above $100,000 and U.S. spot ETFs continuing to record multi-billion dollar inflows. The contrast may seem counterintuitive, but historically, low volume in a bullish setup often signals that sellers have exited and buyers are accumulating quietly.  In such conditions, market depth shrinks. Even moderate inflows of capital can move prices significantly due to a lack of sell-side resistance. Chart data supports this pattern through color-coded volume zones. Red boxes, which mark volume blow-offs and often indicate market tops, have consistently appeared at the end of previous bull cycles, including in 2014, 2018, and 2021. None has appeared so far in this cycle. In contrast, blue-circled areas highlight the Super Signals — moments when volume reaches deeply suppressed levels while the trend remains upward. These signals have historically emerged at early or mid-stages of a rally, not at its end.  The current chart closes with a question mark near today’s price, suggesting the current move may still be unfolding. It is important to distinguish between Super Signals and standard volume pivots.  Not all volume dips lead to strong rallies. Green-circled pivots on the oscillator identify periods of moderately low volume followed by smaller upward moves. Super Signals occur only when volume is at unusually low levels and the broader price structure remains intact. Macroeconomic conditions add further context. The fiscal environment has shifted once again following the passage of the “One Big Beautiful Bill,” which brought renewed government spending and added concerns about long-term liquidity.  Meanwhile, inflation expectations remain elevated, and risk assets are increasingly pricing in the possibility of a softer global monetary stance. In that backdrop, Bitcoin holds a structurally favorable position. ETF flows continue to provide consistent demand. Sell-side pressure remains limited, and trading volumes are compressed, creating a setup where price can move quickly if fresh capital enters. On-chain behavior reflects a shift back toward accumulation. According to Glassnode, wallets holding between 10 and 100 BTC now show a perfect accumulation score of 1.0, indicating strong, sustained buying activity.  After briefly leaning toward distribution, the largest $BTC holders are now back in accumulation. All wallet cohorts show varying degrees of buying, with the strongest activity in the 10–100 #BTC and — glassnode (@glassnode) June 5, 2025 The same score has been recorded in wallets holding less than 1 BTC, suggesting retail interest is also building. Accumulation during low-volume phases typically reflects optimism. Participants are not rushing in, but they are positioning quietly, waiting for confirmation before larger moves unfold. As always, crypto markets are highly volatile and nothing is ever guaranteed. Do your own research and never invest more than you can afford to lose.

Cysic is launching a platform that enables users to access real hardware with the help of tokenized assets. Cysic is using tokenization to provide users access to high-performance computing power. On Thursday, May 29, the zero-knowledge layer-1 network announced ComputeFi, describing it as a “hardware tokenization model.” The rise of AI has pushed powerful GPUs out of reach for many smaller developers. With chip prices continuing to rise, the issue is likely to worsen, says Leo Fan, Co-Founder of Cysic. ComputeFi aims to make access to powerful computing more affordable. “We wanted to ease the cost of scaling real-time applications, and help to generate sustainable yield for the biggest crypto use cases today: crypto mining, AI inference, and zero-knowledge proving,” Leo Fan, Co-Founder of Cysic. You might also like:Amid Nvidia AI updates, KGN Cloud uses next-gen GPUs for sustainable cloud mining How the ComputeFi model works The ComputeFi platform functions by tokenizing real computing hardware, including GPUs, ZK chips, and mining rigs. These tokens become assets that anyone can earn from, without needing to manage or store the machines directly. You might also like:Decentralization is coming for your high-end rig | Opinion On the back end, ComputeFi distributes computing power to users, provides rewards for token holders, and tracks all activity on the blockchain. The platform also says this model removes the middleman between developers and hardware owners. “Most people can’t afford to buy and operate high-end compute hardware. ComputeFi bridges this gap. It connects those who need compute with those who have it, and allows anyone to generate yield from the infrastructure that powers blockchain, AI, and mining technologies,” Leo Fan, Cysic. One of the first applications ComputeFi will focus on is Dogecoin and Litecoin mining. This will allow ordinary users to earn mining rewards without managing hardware directly or paying to operate it. Cysic hopes this will contribute to more democratic and distributed mining, while rewarding a broader pool of users. You might also like:NVIDIA stumbled, tech markets wobbled, but DeepSeek AI could be crypto’s leap ahead

以太坊自 2024 年 9 月以来首次在 3 月份重夺去中心化交易所交易量第一的位置。 根据 DefiLlama 的数据，基于以太坊的 DEX 处理了 640 亿美元的现货交易量，而 Solana 为 520 亿美元，BSC 为 440 亿美元。尽管创下了这一里程碑，但整体市场活动有所放缓。DEX 交易量从 1 月份的 860 亿美元下降到 3 月份的 850 亿美元，而同期锁定的总价值从 670 亿美元下降到 490 亿美元。 该网络的费用产生也急剧下降。1 月份，以太坊 (ETH) 的交易费收入为 1.42 亿美元，但这一数字在 3 月份暴跌至仅 2100 万美元。该网络的消耗率（追踪从流通中移除的 ETH 数量）创下了自 2021 年 8 月以来的最低水平。 根据 Ultrasound Money 的数据，上周每天仅销毁 53 个 ETH，自 EIP-1559 升级以来，以太坊的总供应量增长了 3%，这引发了人们对该资产长期价值累积的担忧。 因此，以太坊的价格一直处于困境之中，根据 Coinglass 的数据，截至 2025 年第一季度，以太坊价格下跌了 45%。这导致以太坊网络市值蒸发 1700 亿美元，这是自 2016 年以来表现最差的第三季度。 你可能还喜欢：Scroll 联合创始人警告不要对 L2 征收关税，称其对以太坊“有毒” 鉴于当前的网络动态，机构投资者一直持谨慎态度。SoSoValue 数据显示，以太坊交易所交易基金 3 月份亏损 4.03 亿美元，仅一天资金流入。此外，渣打银行分析师已将 ETH 年底价格目标从 10,000 美元下调至 4,000 美元，理由是以太坊的第 2 层解决方案竞争激烈，这些解决方案通过提供较低的费用吸引了用户。 尽管如此，以太坊的长期潜力不容忽视。它仍然是有前途的领域的领导者，例如现实世界资产的代币化，预计到 2030 年将成为一个价值 16 万亿美元的产业。 根据 RWA.xyz 的数据，以太坊控制着 54% 的代币化市场，网络上代币化的资产价值 50 亿美元。随着传统金融继续向链上发展，该网络可能会重新引起人们的兴趣。 贝莱德首席执行官拉里·芬克 (Larry Fink) 强调了代币化的潜力，并预测所有资产最终都将在链上体现。如果以太坊能够继续在这一转变中发挥作用，那么它的供应可能会再次成为通货紧缩，并随着时间的推移推动价值增长。 以太坊也可以从支持质押的以太坊 ETF 中获益。纽约证券交易所和芝加哥期权交易所均已向美国证券交易委员会申请质押以太坊 ETF。 质押 ETF 可能会增加需求并锁定大量 ETH。再加上机构采用，这可能会给以太坊带来急需的推动力。 阅读更多：隐私池在 Buterin 的支持下首次亮相以太坊，旨在实现合法的链上隐私