Franklin Templeton gets regulatory approval to launch a tokenized fund in Singapore

Bitcoin is gearing up for a significant volatility event, triggered by $7.25 billion in options that are set to expire. Bitcoin’s (BTC) derivative market may soon become a catalyst for major moves for BTC. On April 25, $7.25 billion in Bitcoin options are set to expire, typically triggering significant volatility. Still, the direction of this volatility remains uncertain. According to Marcin Kazmierczak, co-founder and COO of oracle provider RedStone, Bitcoin has shown notable resilience. Compared to traditional markets, crypto assets have fared relatively well amid recent macroeconomic uncertainty. “Tomorrow’s expiry looks particularly spicy, coming at a time when the market seems undecided about its next major move,” Kazmierczak said in a note sent to crypto.news. Bitcoin open interest by expiry dates | Source: Coinglass On April 25, a total of 32.74k put contracts and 44.93k call contracts are set to expire. The market value of these contracts stands at $24.20 million for puts and $127.82 million for calls. The significant gap between puts and calls, with calls outnumbering puts by roughly 5x, suggests that traders are leaning toward a bullish outcome. Smart money is betting on volatility: Kazmierczak Kazmierczak acknowledges that options expiry events often contribute to significant market swings. If all contracts were exercised, their total notional value would be $7.25 billion, a figure that could have a noticeable impact on BTC’s price. For this reason, he believes that smart money is preparing for volatility. Smart money is likely positioning for some dramatic swings, making this a perfect moment for both opportunity seekers and cautious investors to pay close attention,” Marcin Kazmierczak, RedStone. At the same time, he highlights the continued maturation of the crypto ecosystem. This provides long-term investors with a chance to capitalize on volatility and secure more favorable entry points. “While we may face volatility around options expiries, the underlying fundamentals remain exceptionally strong, with stablecoin volumes, Bitcoin adoption, and real-world asset tokenization all showing remarkable growth trajectories.” You might also like:DOW Jones down 1000 points amid uncertainty over tariffs, Fed’s future Kazmierczak also noted that the crypto markets have remained relatively steady in comparison to equities. In contrast, traditional markets have faced notable turbulence, largely due to fears surrounding the impact of Donald Trump’s tariffs on major trading partners. “It’s worth noting that crypto markets have demonstrated surprising resilience compared to traditional markets, which have been rocked by tariff concerns – a sign that digital assets may be establishing their own market dynamics less correlated to traditional financial turbulence.” You might also like:How to invest in Bitcoin without buying it

The Ethereum price has been under pressure this year, having dropped by 56% from its November high.  Ethereum’s (ETH) performance has been worse compared to other top cryptocurrencies like Bitcoin (BTC) and Solana (SOL). In fact, Ethereum has dropped to a record low against SOL, and is hovering at its 2020 lows against BTC. This performance has led some investors and analysts to question whether Ethereum is dead. In a YouTube video on Thursday, Charles Hoskinson, Cardano’s (ADA) founder, predicted that Ethereum wouldn’t be around in the next 15 years. He pointed to the growth of layer-2 networks like Base, Optimism, Arbitrum, and Polygon, which have continued to gain market share. These chains have largely taken users from Ethereum, a chain known for slow speeds and high transaction costs. You might also like:Investors can turn to stocks as Bitcoin nears range top, analysts warn However, a closer look at top network data reveals that Ethereum is far from heading to its demise. Its decentralized exchange protocols handled over $57 billion in volume over the last 30 days, making it the second-biggest chain after Solana, whose protocols handled $61.3 billion in the same period. Ethereum is also the biggest chain in terms of total value locked. It has a TVL $107 billion, giving it a 57% market share. Its stablecoin market cap of $124 billion represents a 51% market share. It remains the biggest chain in the non-fungible token industry as well. Additionally, Santiment data shows that the number of Ethereum holders has continued rising. It now has over 144.8 million holders, up from 130 million in October last year. Furthermore, the five-year Mean Dollar Invested Age has increased to 658, indicating that older holders are not selling. ETH holders and MDIA | Source: Santiment Ethereum technical analysis: $2150 is the key price to watch ETH price chart | Source: crypto.news The daily chart shows that ETH price has bounced back after bottoming at $1,383 earlier this month. It has rebounded to $1,787, its highest level since April 6. The coin has moved above the upper boundary of the falling channel that had formed since last November. It has also jumped above the 25-day moving average and formed a small bullish flag pattern. The Awesome Oscillator is about to move above the zero line. It jumped above that level lastly in November, triggering a 40% jump. Therefore, the key Ethereum price level to watch will be at $2,150, the lowest point in August and September last year. A break above that level will signal more gains, potentially to $3,000. Failure to move above that level is risky because it will signal a break-and-retest pattern, which would indicate further downside. You might also like:PENGU price breaks out with 40% surge, eyes $0.015 ahead of potential ETF approval

披露：此处表达的观点和意见仅属于作者，并不代表 crypto.news 编辑部的观点和意见。 过去十年，代币化信贷市场发展至新高。该行业将贷款、债券或其他债务工具等传统信贷产品转换为区块链上的数字代币，帮助更多参与者实现了投资世界的民主化，每个发行的代币都代表着基础信贷资产的一小部分。这种细分化使得代币可以在去中心化平台上轻松交易、转移和管理。 您可能还喜欢：代币化证券正在重新定义合规性 | 观点 迄今为止，包括世界银行和卢加诺市在内的领先机构已发行了100亿美元的代币化债券。该市场日益普及，源于其带来的显著优势——增强的流动性、透明度和可及性。投资者现在可以买卖部分贷款或债券，使这些传统上流动性较差的资产更加灵活，交易性更强。区块链透明、不可篡改的账本确保所有交易安全可靠，并可实时验证，从而减少欺诈并提升信任度。此外，代币化信贷产品降低了准入门槛，从而吸引更广泛的投资者，即使是小规模参与者也能投资曾经仅限于大型机构参与者的资产。随着越来越多的金融机构和平台采用代币化，预计该市场将进一步扩张，从而彻底改变信贷产品的发行、交易和管理方式。 然而，尽管取得了这样的进步，代币化信贷市场的增长仍然受到一个关键问题的制约：投资回报率。与传统贷款市场相比，去中心化金融贷款目前的收益率较低，尤其是在当前的高利率环境下。 这个问题可以通过为跨境支付提供资金来解决，因为这是扩大代币化信贷市场和释放更高收益的理想用例，提供稳定的现金流，并与区块链的速度和成本效益自然契合。 核心挑战：低收益率和波动性 与数万亿美元的全球债券市场规模相比，代币化信贷市场的总配置规模仍然相对较小。有限的配置主要源于流动性挑战、投资者对收益率的犹豫以及监管的不确定性。 就回报而言，代币化信贷市场目前为100亿美元的代币化信贷资产提供约9.65%的平均收益率。虽然与传统债券收益率相比，这似乎颇具吸引力，但从2018年到2023年，增长强劲的私募信贷市场的平均收益率仅为12%，这导致许多投资者仍然认为DeFi具有波动性和不确定性。因此，为了进一步释放增长潜力，该行业必须解决收益率相关问题，并增强投资者对这一新兴资产类别的信心。 机构投资者不仅要求高收益，还要求稳定性和可预测性。在传统信贷市场中，低波动性和可靠的收入来源是投资流动的关键驱动力，而DeFi领域仍被视为新兴且波动性较大。DeFi生态系统需要证明其能够为机构投资者和散户投资者创造具有吸引力的、经风险调整后的回报。这意味着需要提升平台的稳健性，并扩大可用资产类别的范围，例如扩展到支付领域。 提高产量以促进增长 为了推动更广泛的采用并吸引更多资本进入代币化信贷市场，需要采取几种策略来提高收益率的吸引力： 增强流动性。限制收益率吸引力的关键因素之一是流动性，因为代币化资产必须拥有更深层次的二级市场，才能让投资者轻松退出头寸，而不会对价格产生显著影响。这可以通过扩大提供代币化债务资产交易的平台数量来实现，而增加机构参与度则有助于创造必要的流动性，从而获得更稳定的回报。 拓宽资产类别。The tokenized credit market is currently focused on a narrow range of assets, such as mortgages and corporate bonds. However, to make yields more appealing, the market needs to diversify into other asset classes. Tokenizing revenue-generating assets like payments, real estate, and infrastructure projects could provide higher yields and open up new opportunities for investors who are seeking different risk-return profiles. Leverage stable asset classes.Integrating more stable, low-risk asset classes into the DeFi ecosystem could help balance the risk-reward equation. For example, tokenized government bonds or investment-grade corporate debt could offer lower but more stable yields, which may be attractive to institutional investors or pension funds looking for secure, long-term returns. 寻找用于标记化的新资产类别 为了确保代币化信贷市场的持续增长，必须探索新的资产类别。当前的市场格局主要集中于固定收益工具，但在房地产、知识产权、特许权使用费，甚至碳信用额等领域也存在尚未开发的机会。 然而，支付行业为代币化信贷市场的扩张提供了最佳的资产类别。支付行业在全球所有商业领域中扮演着重要的角色，处理着极高的交易量，且回报基本稳定。跨境支付尤其令人关注；每家服务提供商必须在其运营所在的每个司法管辖区保持充足的流动性，以提供快速且低成本的交易，这对有抱负的创始人和正在扩张的支付公司来说是一个沉重的负担。 这种负担造成了巨大的效率低下，并锁定了原本可以投资或以其他更高效的方式利用的资本。代币化信贷市场为这一问题提供了一个有效的解决方案，它向跨境支付公司提供贷款，使其能够在更多司法管辖区运营预存资金账户，从而进入传统贷款机构因高风险和过时的尽职调查流程而尚未开发的市场。代币化信贷市场利用链上抵押品进行贷款，并提供高度灵活的信贷额度，可以进入传统私人借贷市场无法触及的领域，获得重要的交易量和更高的收益。 代币化信贷市场的未来 As the tokenised credit market continues to evolve, funding payments companies stand out as an important asset class that can generate higher yields and attract more capital, enabling the tokenised credit market to take the next step in its growth.  为了确保更广泛的 DeFi 生态系统蓬勃发展，该行业必须专注于增强流动性、稳定收益率和多元化发展新的资产类别，无论是支付行业还是其他对灵活的链上流动性有很高需求的行业。 阅读更多：高效投资组合的秘诀是什么？自动化 | 观点 穆卢库·萨诺 穆卢库·萨诺is an experienced investor and operator, with private equity and investment banking in his arsenal. He co-founded Cassava, Africa’s largest web3 platform, and led key investments at Adaverse, Cardano’s venture arm. He was on Forbes 30 Under 30 2023.

CoinGecko 联合创始人 Bobby Ong 表示，加密货币市场在 1 月份新代币创建数量激增。 据 Ong 称，已铸造了 60 万枚新代币。这比 2022 年至 2023 年每月铸造的 5 万枚代币增加了 12 倍。 代币创造的加速始于 2024 年第四季度；每月数量达到 400,000，然后在 1 月份跃升至创纪录水平。 Ong 将这种增长归因于几个因素，包括代币孵化器平台的兴起，例如 Pump.fun，这是一家在 Solana 上运营的初创公司，使用户无需技术专长即可创建 meme 币。 其竞争对手 SunPump 在 Tron 上运营。 2/ 早在 2022-2023 年，每月就会铸造大约 5 万个新代币。快进到 2024 年第四季度，我们看到每月有 40 万个新代币产生 —— 2025 年 1 月创下了每月产生 60 万个新代币的记录！🤯一年多一点的时间里，增长了 12 倍。pic.twitter.com/KZkG4hmEJd— Bobby Ong (@bobbyong) 2025 年 2 月 14 日 Ong 指出，“如果它可以被标记化，它就会被标记化”，并指出模因和基于注意力的资产将立即被标记化。 区块链网络和去中心化交易所 (DEX) 也在迅速增加。数据显示，每月大约有 5 到 10 个新链上线，2024 年 5 月新链数量达到峰值 17 个。此外，仅在 2024 年 3 月就追踪到了 89 个新的 DEX。 你可能还喜欢：阿根廷的 LIBRA 表情包币崩盘，在 Milei 发布有争议的帖子后损失了 44 亿美元 “代币太多了……” 市场分析师警告称，这种激增可能导致流动性分散。在回应对市场影响的担忧时，Ong 承认了潜在的弊端：“代币太多，每种代币都会进一步分散交易者有限的注意力和流动性。这就是为什么我们没有看到前几个周期的大幅上涨。” 这可能会影响定义先前市场周期的市场效率和集中流动性的成本。 你可能还喜欢：比特币价格面临风险？MVRV、恐惧与贪婪指数下跌，前景看淡 过度的危险 加密货币市场竞争日趋激烈，人们开始担心。尽管 Pump.fun 和 SunPump 让发行代币变得前所未有的简单，但随后涌现的 meme 币却增加了市场稀释和诈骗的风险。 随着模因币充斥市场，监管审查的风险也随之增加。人们对诈骗和欺诈的担忧加剧，可能会引发政府的打击，这只会让合法项目更难遵守规定。 阅读更多：布莱恩·阿姆斯特朗表示，到 2030 年，将有数十亿人使用比特币。为什么这可能呢？

《富爸爸穷爸爸》作者罗伯特清崎再次警告不要投资比特币和贵金属的交易所交易基金 (ETF)。 他主张直接所有权，以防止他所说的腐败的银行体系。 在最近的 X 帖子中，清崎建议不要投资黄金、白银或比特币 (BTC) ETF，称它们为“银行家的钱”。在预测金融体系崩溃的同时，他进一步强调了传统金融工具和直接资产所有权之间的区别。 比特币是骗局吗？可能是……但这不是像美元和美国银行系统那样的大骗局……从美联储开始。他们是银行家。例如……当他们破产并损失数十亿美元时……美联储的罪犯会救助他们。他们应该进监狱。那是……— Robert Kiyosaki (@theRealKiyosaki) 2025 年 3 月 1 日 “比特币是骗局吗？可能是……但不像美元和美国银行系统那样是骗局……从美联储开始，”清崎说道。他将央行行长描述为在损失数十亿美元后接受政府救助的“银行家”，并认为他们“应该进监狱”。 清崎表示比特币正在出售 作者的评论发表于比特币价格波动期间。2 月 27 日，随着加密货币价格下跌，清崎将这种低迷视为一个机会，宣称“比特币崩盘。比特币正在出售。我要买。”他认为根本问题不是比特币本身，而是美国的货币体系和银行业。 清崎谈到了美国的财政状况，声称除了官方的 36 万亿美元国债外，如果再加上社会项目和未偿债务，该国的债务总额将超过 230 万亿美元，将面临破产。他预测，当日本和中国等主要持有国停止购买美国债券时，“通货膨胀将急剧上升”，可能导致经济崩溃和美元贬值。 这位金融作家在经济不确定时期一直主张有形资产。在另一条关注白银的推文中，清崎表示白银有望大幅上涨。他预测，一旦金价突破 3,000 美元，一年内白银价格将从每盎司约 32 美元上涨至 70 美元。 白银市场下有些动静……当黄金价格突破 3,000 美元的历史新高时……我的消息来源说白银将会大涨。白银是最佳投资，价格也最优惠。白银价格仍比其历史最高价低约 50%。I believe silver at $32.00 an ounce will within…— Robert Kiyosaki (@theRealKiyosaki) February 26, 2025 他对资产价格的看法表明了他对通货膨胀和货币贬值的看法：“黄金、白银和比特币的价格没有上涨。通货膨胀正在降低购买力……降低他们假钱的价值。” 阅读更多：从概念到现实：女性在区块链领域开创和领导的五种方式 | 观点