Elon Musk denies Telegram deal after Durov announces $300m xA integration

Bitwise data shows Ethereum now handles more institutional stablecoin flows than retail retail trades. Ethereum (ETH) isn’t just for non-fungible tokens or and decentralized finance degens anymore. According to a new analysis from Bitwise Europe, the network’s base layer is quietly transforming into a heavyweight settlement system for institutional money — while retail activity shifts elsewhere. 𝐓𝐡𝐞 𝐀𝐥𝐭 𝐕𝐢𝐞𝐰🔎We see Ethereum evolving from a retail toll road to a freight terminal for institutional-grade use cases. The infrastructure is in place: blobspace, validator incentives, and governance upgrades.The challenge now? Activating demand.This chart breaks… pic.twitter.com/t2r27FCucE— Bitwise Europe (@Bitwise_Europe) May 28, 2025 The data reveals that Ethereum is “evolving from a retail toll road to a freight terminal for institutional-grade use cases” as stablecoin transactions now account for the majority of on-chain activity. With more than $127 billion in stablecoins circulating on Ethereum’s blockchain, the trend suggests institutions are increasingly using the network “for institutional treasury flows and on-chain dollars,” the analysts say. Meanwhile, the DeFi frenzy and NFT mania that once characterized Ethereum have largely migrated to layer-2 solutions. “NFT activity spiked sharply during the 2021–2022 cycle but has since dropped significantly. This reflects both market cooling and migration to L2s, which now harbour new NFT launches.” Bitwise Europe Ethereum’s mainnet now primarily handles core infrastructure functions: ETH transfers, regulated tokenized assets, and the fundamental systems supporting rollups and cross-chain bridges. The transition appears intentional. You might also like:VanEck sets $22K price target for Ethereum by 2030 amid anticipated ETF approval With upgrades like Pectra already live and PeerDAS/Fusaka coming soon, Ethereum is “no longer scaling for smaller protocols,” the analysts write, adding that the network is now aiming billions of layer-2 transactions, tokenized treasuries, and institutional settlement flows. The evolution of Ethereum’s mainnet role has been foreseen by its developers for some time. In early 2024, Ethereum core developer Eric Conner suggested that the network’s mainnet in the long term won’t serve as the platform where daily users would want to transact tokens. Addressing the prevalent concern about high transaction fees on Ethereum, Conner pointed out that while Ethereum’s mainnet may not be the ideal platform for daily transactions in the long term, it will still serve as the foundation for decentralized applications and settlement layers. Read more:Vitalik Buterin discusses solutions for Ethereum’s increasing block size challenges

Bitcoin is currently trading below the point of control after rejecting from a key dynamic resistance. The lower timeframe trend remains bearish, and its potential to influence higher timeframes is something traders should be mindful of moving forward. Following a rejection from the local high, Bitcoin (BTC) has returned to a key trading range, where price is now consolidating beneath the point of control (POC). This move aligns with the development of a swing failure pattern and the activation of a bearish harmonic structure, both of which contributed to the ongoing retracement. While this pullback hasn’t triggered a high-timeframe breakdown yet, it reflects a short-term shift in sentiment and structure that warrants close attention. Key technical points, Dynamic Resistance Remains Intact:Price has consistently failed to break through a key resistance trendline, maintaining a sequence of lower highs since the April 23rd high. Price Below Point of Control:Bitcoin is consolidating below the volume-weighted POC, and acceptance at these levels could open the door for further range rotation to the downside. Lower Timeframe Trend Still Bearish:The structure of lower highs and lower lows remains intact on low timeframes, which could begin influencing higher-timeframe direction if not invalidated. BTCUSDT (1H) Chart, Source: TradingView Detailed analysis Bitcoin’s rejection from the April 23 local high occurred at the confluence of the POC and a bearish harmonic pattern. This triggered a pullback that has returned price to a well-defined range. The value area high has been lost during this move, and price is now consolidating just beneath the POC, an area of high volume and prior balance. A defining characteristic of the current trend is the consistent formation of lower highs and lower lows on the lower timeframes. This structure remains unbroken and is guided by a dynamic resistance level that continues to cap upward momentum. Until this trend is invalidated, the short-term outlook remains cautious. You might also like:Bitcoin surges toward new highs as WinnerMining offers easy cloud mining entry Behavior around the POC may offer important clues on what’s next. If price remains accepted below this level, the market could rotate lower within the range to test deeper support. Alternatively, reclaiming the POC and forming a higher low could mark the first step toward reestablishing bullish structure. What to expect in the coming price action As Bitcoin consolidates below the POC and dynamic resistance holds, the short-term trend remains tilted to the downside. Continued rejection from overhead resistance may result in a deeper rotation within the range. However, a reclaim of the POC along with a higher low could indicate a momentum shift back toward the bulls. For now, traders should closely monitor how the lower-timeframe structure evolves, and whether it begins to influence broader market direction. Read more:Best crypto to buy now as Bitcoin ETF inflows surge ahead of Fed decision

使用稳定币的全球发卡平台 Rain 已获得由 Norwest Venture Partners 领投的 2450 万美元融资。 其他参与者包括 Galaxy Ventures、Goldcrest、Thayer 和 Hard Yaka，以及现有投资者，例如 Lightspeed Venture Partners、Coinbase Ventures、Vinyl Capital、Canonical Crypto 和 Latitude Capital。 这项投资将使 Rain 增强与现有金融系统的互操作性，扩大其全球影响力，并推进其稳定币授权和结算基础设施。 据该公司发布的消息称，该公司经历了显著的增长，业务量在过去一年中增长了 15 倍，交易范围覆盖 100 多个国家。 你可能还喜欢：Palisade 联合创始人表示，加密货币托管改革可能会引发机构兴趣 Visa’s backing  Rain has also achieved principal membership with Visa, facilitating card issuance across Europe, the U.S., and Latin America. Its vertically integrated issuing stack allows the operation of card programs worldwide, settling transactions in stablecoins. The platform allows businesses to issue physical and virtual cards linked to various wallet types or traditional fiat accounts, with support for native settlement on multiple blockchain networks. Norwest Venture Partners 是一家拥有超过 155 亿美元资本的全球投资公司，一直致力于支持金融科技创新。他们的投资组合包括对 Plaid 等公司的投资，这些公司简化了银行和消费者之间的金融数据访问。 Norwest Venture Partners 合伙人 Parker Barrile 强调了 Rain 在不断发展的金融格局中的重要性。他指出，该公司的平台将合规性与数字货币的灵活性融为一体，使其成为日益普及的稳定币领域的领导者。 这笔资金凸显了人们对将稳定币融入主流金融服务日益增长的兴趣，凸显了 Rain 在传统金融与不断扩大的数字货币生态系统之间架起桥梁的潜力。 你可能还喜欢：报道称白宫向国会施压，要求加快《天才法案》的通过

Pi Coin 在推出仅几周后就暴跌 78%，并且还有更多的代币解锁和延迟，Pi Network 能否恢复用户信任？ 目录从前十名跌落故障、延误和死胡同Activity tells a different storyA make-or-break moment From top 10 to tumbling 今年 2 月，Pi Network (PI) 一炮走红，引发了大多数加密货币梦寐以求的炒作。Pi Network 期待已久的主网终于上线，几天之内，该代币便一路飙升，于 2 月 26 日创下 2.98 美元的历史新高。 有一段时间，它甚至跻身市值前 10 大加密货币之列，与行业巨头并驾齐驱。然而，时间快进到 4 月 2 日，情况就远没有那么光鲜了。 截至本文撰写时，Pi 币的交易价格仅为 0.66 美元，较一个多月前的峰值大幅下跌了 78%。此次崩盘导致市值蒸发约 145 亿美元，市值从近 200 亿美元缩水至仅 45.6 亿美元。 Pi Network 价格图表 | 来源：crypto.news 当我们缩小视野时，情况就变得更加模糊了。根据 PiScan 的数据，仅本月就有超过 1.24 亿个 Pi 代币将被解锁。而这仅仅是个开始。 每月解锁量将继续攀升，7 月份将达到 2.33 亿的峰值。总体而言，明年将有超过 15.3 亿个新代币进入市场，使总流通供应量达到 82 亿个。 对于一个供应量已经达到 67 亿并计划达到 1000 亿上限的网络来说，这是一个巨大的飞跃。按照这样的速度，Pi 很快就会成为通货膨胀率最高的数字资产之一。 同时，交易所支持仍然参差不齐。OKX 是第一个上线 Pi 的主要平台，其次是 Bitget、Gate.io 和 MEXC，其中 Gate.io 目前在交易量方面领先。 但该代币仍未进入大多数一级交易所。币安、Coinbase、Kraken 和 Bybit 均未上线。事实上，Bybit 的首席执行官甚至称 Pi 为“骗局”，但其开发者强烈否认这一说法。 So, what’s really happening behind the scenes of Pi Network? And with more tokens set to flood the market, what can investors expect in the coming weeks and months? Let’s break it down. 故障、延误和死胡同 Pi 币价格大幅下跌的背后存在着一系列内部摩擦——这些问题与市场情绪关系不大，而更多地与运营故障和掌舵人的沉默有关。 最大的挫折之一就是一个瓶颈：KYC。了解您的客户验证是用于确认用户身份的标准流程，但对于 Pi Network 庞大的用户群来说，它却成了一场噩梦。 此步骤是强制性的。没有它，用户就无法将他们开采的 Pi 代币迁移到主网，这意味着没有交易，没有提款，并且基本上无法获得他们认为自己已经获得的价值。 报告显示，尽管开放网络于 2 月 20 日推出，并且 KYC 和迁移宽限期延长至 3 月 14 日，但 Pi Core 团队仍在努力处理估计超过 6000 万用户的积压工作。 从第三方提供商 Yoti 转向专有 KYC 系统旨在提高可扩展性，但诸如“暂定批准”状态阻碍了进展等技术故障，让许多用户陷入困境。 一些估计表明，只有大约 1400 万用户成功迁移，突显出严重的容量问题。 社交媒体平台，尤其是 X，充斥着 Pi 用户应对这种糟糕体验的第一手资料。 一位用户分享了她的 Pi 币最初被标记为已迁移，然后意外地在没有任何解释的情况下返回，让她陷入重新确认和等待的循环中。 我被困在这里了🙄My Pi was migrated, then unexpectedly marked as “Returned” without any explanation or prior notice. It was migrated again, I reconfirmed my migration wallet, and yet I’m still waiting! Am starting to feel like this is all a scam. pic.twitter.com/Av27q5zZNE– Rula El Halabi (@Rulaelhalabi) 2025 年 3 月 31 日 另一人报告称，尽管他一直在排队，但他的迁移并未在宽限期结束前完成，因此损失了 1,427 个 Pi 代币。 🥵 由于错过宽限期，这位先锋损失了 1427 美元 Pi据《先驱报》报道，他正在移民队列中，等待移民。这公平吗？这有道理吗？Losing Pi due to waiting, in a situation where you can't do… pic.twitter.com/sm5N5U6Cin— pinetworkmembers Ï€ (@pinetworkmember) March 14, 2025 类似这样的故事激起了人们的愤怒和焦虑，尤其是那些花费数年时间挖掘代币并希望最终获得访问权限的人。沉默加剧了这种反弹。Pi Core 团队（通常称为 PCT）一直对自己的底牌讳莫如深。 路线图的主要方面几乎没有透明度。用户无法清楚地了解验证者激励措施、dApp 开发状态，甚至 Pi 的 .pi 域名拍卖收益的去向。 **Pi 网络的问题：未解决的 Kyc 问题、验证者奖励、未经验证的 Picoins、缺少 100dapps、第二次迁移时间表、随机向 CEX 发布数百万 Pi、缺乏 Pi 路线图透明度，包括最近的 Pi 域、Pi 的价值和 GCV 崇拜问题。MSI 博士 (@shahidwafa789) 2025 年 3 月 26 日 The truth may be far less dramatic, but the absence of consistent communication is allowing speculation to dominate the narrative. A user bluntly put it, “Getting to new highs from here might be really difficult.” Activity tells a different story Pi Network’s latest attempt to demonstrate real-world use came through PiFest, a global merchant initiative held from Mar. 14 to Mar. 21. Framed as a campaign to drive everyday adoption, the event aimed to show how Pi could be used in practical settings, whether for groceries, clothing, car repairs, or digital services. 开放网络中的首届 PiFest 展示了创纪录的参与度。共有超过 125,000 名注册卖家（包括超过 58,000 名活跃卖家）和 180 万名先锋使用了 Map of Pi，凸显了 Pi 在全球范围内的实用性。https://t.co/l74jSfQAJu先驱者和……— Pi Network (@PiCoreTeam) 2025 年 4 月 1 日 从纸面上看，报告的数字似乎令人印象深刻。超过 125,000 名商家注册，包括 58,000 名活跃卖家，约 180 万先锋参与。但在这个规模背后，实际的网络活动却讲述了一个不同的故事。 链上数据显示，活动期间支付量几乎没有变化。正如一位用户在 X 上指出的那样，“当前 #PiFest 期间的支付数量并没有显着增加”，这表明许多用户不愿花掉他们的代币，或者更愿意在 Pi 的未来仍存在不确定性的情况下持有它们。 🚨当前#PiFest 期间的付款次数并没有显着增加，最终表明社区要么不高兴，要么不愿意花费他们的 $Pi 或 HODLing 他们的 Pi 以备将来之需。#pinetwork #pi #picoin #minepi pic.twitter.com/3tP6vTrscK— pinetworkmembers Ï€ (@pinetworkmember) 2025 年 3 月 21 日 这种犹豫反映出生态系统中存在更深层次的裂痕。Pi 之前曾致力于构建广泛的去中心化应用基础，以让用户参与挖矿和点对点传输以外的活动。 让我们谨慎地迈出每一步。圆周率日和 6 周年纪念日本应发布最重要的公告。甚至交易所也准备庆祝，但什么都没有……没有重大公告……没有 100 个 DApp……对我来说，这是一个严重的问题！— Dr Altcoin (@Dr_Picoin) 2025 年 3 月 15 日 However, third-party reviews show that only a small number of dApps are currently operational, and those that exist lack meaningful utility when compared to platforms like Ethereum (ETH) or Solana (SOL). Without a strong application layer, there is limited motivation for daily token usage. One of Pi’s headline strategies was its planned integration with Telegram’s crypto wallet. Initially positioned as a move to expand reach, the effort has not yet resulted in meaningful engagement or visible outcomes. 与此同时，对隐私的担忧也开始浮出水面。Pi 的 KYC 系统采用社区驱动的过程，用户使用自拍视频和身份证检查来验证他人。 虽然这种方法旨在扩大访问权限，但它也存在风险。如果编辑失败，个人信息可能会被泄露，这已成为用户日益担心的问题。 总的来说，Pi 的生态系统似乎仍处于发展阶段。除非平台为商家提供真正的激励措施、提高用户信心并提供实用的应用程序，否则无论技术上有多少用户加入，主流采用仍可能遥不可及。 成败时刻 Pi Network 正在进入加密领域许多人所说的关键实用阶段。在这个阶段，单靠炒作已不足以维持价值，现实世界的使用、开发者活动和生态系统实力等因素开始决定一个项目是会持续下去还是会逐渐消亡。 History offers plenty of cautionary tales. Projects that failed to move beyond this stage, such as BitConnect, OneCoin, and even more credible names like NEM and Verge, eventually collapsed due to a mix of lofty promises and underwhelming delivery. The cycle tends to repeat itself. It starts with early user excitement and rapid valuation growth, followed by delays in execution, and ends in growing skepticism and loss of confidence. For investors, the months ahead will be key. Focus on what is happening on-chain. Track how many wallets are actually migrating, keep an eye on token unlock schedules, and avoid reading too much into price movement without context. 除非 Pi 能够显示出真正的用户活动、更好的代币管理和更成熟的生态系统的迹象，否则任何短期反弹都不太可能持续。与往常一样，谨慎对待市场，切勿投资超过您能承受的损失。

加密货币行业最大的稳定币 Tether 随着其收入的飙升，正在“印钞”。 TokenTerminal 数据显示，Tether（USDT）今年已创造 14.6 亿美元的收入，预计未来几周内这一数字将超过 15 亿美元。 其收入明显高于其他稳定币和加密行业的其他大型参与者，如 Tron (TRX)、Circle、Solana (SOL) 和以太坊 (ETH)。 以太坊曾长期位居加密货币行业最赚钱的玩家之列，但今年仅盈利 1.57 亿美元。USDC 的母公司 Circle 在筹备首次公开募股 (IPO) 期间，已盈利 6.2 亿美元。 Solana 的收入已达 1.59 亿美元，这主要得益于其生态系统内 meme 币的增长。Tron 是加密货币行业第二大参与者，其收入已接近 10 亿美元大关。 随着越来越多的人接受稳定币，Tether 今年继续增长。Visa 汇编的数据显示，4 月份 Tether 的月交易量为 2660 亿美元。今年迄今为止，其总交易量已超过 1.5 万亿美元。 USDT 月交易量 | 来源：Visa 随着稳定币的市值持续上升，Tether 的收入也随之增加。目前流通中的 USDT 代币价值超过 1440 亿美元，高于一年前的 1090 亿美元。 您可能还喜欢：Tether 收购意大利足球巨头尤文图斯足球俱乐部少数股权 Tether 的盈利主要源于其资金主要投资于美国国债，而美国国债通常被视为安全资产。由于利率持续高于平均水平，过去几年美国国债收益率较高。Tether 的员工和运营成本极低，使其成为全球盈利能力最强的公司之一。 Tether 的增长也催生了多位亿万富翁。《福布斯》估计，Paolo Ardoino 的净资产约为 95 亿美元。Tether 的最大股东 Giancarlo Devasini 的身价约为 224 亿美元，而 Jean-Louis van der Velde 的身价为 95 亿美元。 Tether 今年利用这笔意外之财投资了多家公司。它投资了 Fizen、Be Water、Adecoagro 等公司。，尤文图斯足球俱乐部、Rumble、Northern Data、Bitdeer Technologies Group 和 Blacirock Neurotech。 您可能还喜欢：Tether 试图“主动”收购南美 Adecoagro