Market Overview
BTC maintains a volatile trend, altcoins generally decline, and US stocks outperform the altcoin market. US stocks fluctuate in sync, with market expectations that the Federal Reserve will implement two rate cuts in 2025 and only one in 2026.
Market Hotspots
1. Stablecoin Leader Circle Experiences Explosive Growth
The stock price of Circle, the parent company of stablecoin USDC, has surged, with a market capitalization of $45 billion, driven primarily by the US Senate passing the stablecoin bill. If Circle maintains a 25% market share by 2028, and the stablecoin market reaches $2 trillion, based on an estimated annual interest rate of 2%-3% (taking the midpoint of 2.5%) and deducting a 50% revenue share (optimized from the current 60% ratio), its profit expectation would be:
$200 billion × 0.25 × 2.5% × 50% = $6.25 billion, corresponding to a current market cap PE of about 7 times, suggesting that short-term growth expectations may have been overdrawn.
2. Small Cap Coin RAY Rises Against the Trend
The decentralized finance (DeFi) token RAY has recently seen significant gains, with the core catalyst being its listing on South Korea's leading exchange Upbit, boosting liquidity and market attention simultaneously.
3. Divergence in MEME Coin Market Heat
- Useless Market Cap Surpasses $100 Million: Driven by the Bonk platform's backing, short-term speculative trading characteristics are evident;
- JOE Rises in Tandem: Well-known institution Murad has intervened in trading, with market cap and trading volume showing a phased increase.
