Golden Morning Post | The total market value of stablecoins exceeded US$230 billion for the first time. Central Bank: Take the opportunity to lower the reserve requirement ratio and interest rates

Headlines

▌The total market value of stablecoins exceeded $230 billion for the first time

According to The Block, the total market value of stablecoins exceeded $230 billion for the first time on Thursday, amid the efforts of U.S. regulators to promote the adoption of stablecoins. According to DefiLlama, the current total market capitalization is $230.45 billion, an increase of $2.3 billion in the past seven days. Compared with the same period last year, the market value of stablecoins increased by 56%. In the overall market value, Tether's USDT stablecoin dominates with a market value of nearly US$144 billion, accounting for 62.6%, followed by Circle's USDC with a market value of US$59 billion.

▌Central Bank: Lower the reserve requirement ratio and interest rate at the right time

The People's Bank of China Monetary Committee held a regular meeting for the first quarter of 2025. The meeting studied the main ideas for currency in the next stage, and suggested increasing the intensity of currency regulation, improving the forward-looking, targeted and effective currency regulation, and based on the foreign economic and financial situation and the operation of the financial market, the reserve requirement ratio will be lowered at the right time. Maintain abundant liquidity and guide financial institutions to increase monetary and credit supply to match the expected targets of economic growth and total price level. Strengthen the central bank's interest rate guidance, improve the market-oriented interest rate formation transmission mechanism, give full play to the role of the market interest rate pricing self-discipline mechanism, and strengthen interest rate execution and supervision. Promote the decline in the cost of comprehensive social financing.

Trending the press, according to Coingecko data, BTC's latest transaction price is US$84,279.62, with an increase of -0.2% intraday increase of -0.2%;

ETH's latest transaction price is US$1,984.10, with an increase of -0.5% intraday increase of -0.5%;

BNB's latest transaction price is US$635.08, with an increase of +1.2% intraday increase of;

SOL's latest transaction price is US$128.98, with an intraday increase of +0.3%;

DOGE's latest transaction price is US$0.1689, with an intraday increase of -0.1%;

XPR's latest transaction price is US$2.40, with an intraday increase of -1.7%.

▌Trump: A comprehensive ceasefire in the Russian-Ukrainian conflict will soon be achieved

U.S. President Trump said that a comprehensive ceasefire in the Russian-Ukrainian conflict will be achieved soon.

Blockchain application

▌Farcaster launches the data layer Snapchain main network

On March 22, according to Theblock, the decentralized social media protocol Farcaster launched the "blockchain-like" data layer Snapchain main network, and simultaneously launched the "Airdrop Offers" incentive plan to reward users who actively use the decentralized social media platform. According to co-founder Varun Srinivasan when he announced the launch of the Snapchain testnet in December, the new system can handle more than 10,000 transactions per second. It was reported that the system took only six months from conception to formal use. Previous news, Farcaster plans to launch a new data layer Snapchain next Q1.

▌BNB Chain has completed the Pascal Pascal hard fork

BNB Chain has successfully completed the Pascal Pascal hard fork. This upgrade introduces the EIP-7702 smart contract wallet, aiming to improve EVM compatibility and developer support, as well as functional optimizations involving fuel fee abstraction, smart payment interface and batch transactions. The official releases a roadmap for future improvements: the Lorentz upgrade, scheduled for April 2025, aims to reduce block production time to 1.5 seconds, and improve transaction speed and network efficiency. After that, the Maxwell Maxwell upgrade plan in June 2025 will further accelerate the block time to 0.75 seconds.

Cryptocurrency

▌Hester Peirce: Cryptocurrency startups should be allowed to raise funds using NFTs

At the SEC's first crypto roundtable meeting, Hester Peirce said that crypto projects should be allowed to finance through tradable NFTs, and revealed that NFTs may become the next area for the SEC to issue exemption statements after PoW mining. Peirce said it's similar to Stoner CatsProjects such as Flyfish Club that raise funds through NFTs that provide holders with specific interests (such as access, membership) may not be considered securities. She noted that if the SEC could provide a frame of reference for NFT issuers, it would be very helpful for the industry to grow. Previously, the SEC sued multiple NFT projects under the Securities Act during his tenure at Gary Gensler, but Peirce emphasized that not all NFT-containing projects are automatically exempt from supervision, and NFTs with structural securities attributes will still be subject to regulatory constraints.

▌Fidelity Solana Fund is registered in Delaware, USA

According to market information, Fidelity Solana Fund (FIDELITY SOLANA FUND) is registered in Delaware, USA.

▌Meme coins will not disappear, but only a few Meme coins will continue

1confirmation founder Nick Tomaino posted on X, saying, "There is no good or bad for Meme coins, they just exist, and they obviously will not disappear. Those who think we will enter an era full of ‘real value’ tokens will be disappointed. The real value lies in the eyes of observers. After more than 15 years, billions of people still believe in Bitcoin without any real value. But hundreds of millions of people believe in it, and its market value is $1.6 trillion. Most Meme coins will disappear, but a few Meme coins will continue."

▌Swiss Bank: Will not buy cryptocurrencies such as Bitcoin

According to Swiss Bank President Martin Schlegel, despite US President Trump's push to establish a strategic U.S. reserve, Swiss banks will not buy Bitcoin and other cryptocurrencies, citing high volatility, lack of security and lack of sound legal frameworks.

Important economic trends

▌The three major U.S. stock indexes closed slightly

The three major U.S. stock indexes closed slightly

The three major U.S. stock indexes closed slightly, with the Dow Jones rising 0.07%, the Nasdaq rising 0.52%, the S&P 500 rising 0.08%, most popular technology stocks rose, Tesla rising more than 5%, and Apple and Meta rising more than 1%.

▌Federal Williams: The Fed is not in a hurry to make the next currency decision

Federal Williams said that the median forecast for September seems reasonable. The risks of inflation and employment targets have increased, while long-term inflation expectations remain stable. The Fed is not in a hurry to make the next currency decision. Trump's adjustments indicate slowing economic growth and rising unemployment.

Golden Encyclopedia

▌What is a cold wallet?

Cold wallet is a cryptocurrency storage method that stays offline and disconnects from the Internet. This setup makes it more difficult for hackers to access funds remotely. Examples include: hardware wallets (such as Ledger, Trezor), paper wallets, isolated computers (devices that have never been connected to the internet).

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