Yijie

ZKJ and KOGE brushed together, today I brushed two more transactions, the normal loss is about 3.3U～4U.

#卡尔达诺稳定币提案 Charles Hoskinson proposed using 140 million ADA from the foundation's treasury to promote the development of the DeFi ecosystem for the following main reasons:

- Enhance stablecoin liquidity: In Cardano's DeFi development, there is insufficient stablecoin liquidity, with only about $33 million in stablecoins supporting over $330 million in total locked value, which is significantly less compared to Ethereum and Solana. This initiative could increase the proportion of stablecoins in the ecosystem, making it more aligned with the expectations of the DeFi ecosystem, thereby promoting related transactions and activities.
- Create a self-sustaining economic model: By converting ADA into stablecoins and other assets for related operations, it is expected to achieve an annualized return of 5%-10%. The profits can then be used to repurchase ADA and return it to the treasury, which could expand the treasury's size and provide sustained support for the ecosystem, creating a virtuous cycle.
- Attract investment and collaboration: This liquidity strategy may attract large venture capital firms like a16z or Pantera Capital, as well as collaborations with major hedge funds like Brevan Howard, bringing more funds, technology, and resources to Cardano's DeFi ecosystem, thereby promoting project development and business expansion.
- Enhance ecosystem competitiveness: Promoting the development of the DeFi ecosystem can make Cardano more competitive in the cryptocurrency space, helping to attract more users, developers, and projects, improving its position in the global DeFi market, and promoting the healthy development of the ecosystem.
- Make efficient use of funds and seize opportunities: The Cardano community has been hesitant about utilizing the ecosystem's infrastructure, and Hoskinson believes that treasury funds should be actively utilized to seize opportunities and avoid missing important chances, such as collaborating with Circle, to promote ecosystem development.

$ADA Below is the market analysis for ADA:

Technical Analysis

- Short-term Trend: On the daily chart, ADA is consolidating within an ascending triangle, with resistance at the top of the triangle around $0.74. The trendline of higher lows forms a support around $0.63 to $0.67, indicating increased demand. The Relative Strength Index (RSI) hovers in the neutral zone of 55 to 60, leaving room for upward movement. The 50-day moving average (MA50) is trending upward and is about to form a golden cross with the 200-day moving average (MA200); if confirmed, this is a typical bullish signal.
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- Medium-term Trend: The weekly chart shows a descending wedge pattern, which is usually associated with bullish reversals. Once the upper trendline of the wedge is broken, the first technical target may be around $1.32, indicating significant potential for upward movement.
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- Key Levels: Recent resistance is at $0.75, with support at $0.58. If it breaks above $0.75, it may rise to $0.83; if it falls below $0.58, it could correct to $0.50.

Fundamental Analysis

- Project Progress: Cardano is nearing the final phase of the Voltaire era, focusing on complete decentralization and on-chain governance. The successful launch of the “Chang” hard fork in September 2024 will make ADA a governance asset, allowing holders to participate in key decisions. The second-layer solution Hydra has made significant progress, capable of bringing high throughput and low latency to the network. In terms of cross-chain compatibility, the Intersek bridge is in the testnet phase, which will increase developer adoption rates.
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- Ecosystem: By the first quarter of 2025, the Cardano community treasury will grow to 1.7 billion ADA, approximately $1.1 billion. Although the total locked value (TVL) in the decentralized finance (DeFi) sector has decreased month-on-month, the TVL diversity index has risen by 13% to 9 points, with the stablecoin sector thriving, market capitalization increasing by 30% to nearly $30 million, and the ecosystem becoming increasingly mature.

Market Sentiment and Investor Expectations

- Some institutions and analysts hold a cautiously optimistic view on ADA's price outlook. Several institutional predictive models indicate a conservative expectation for ADA's price range at the end of 2025 to be between $0.8 and $1.5. If the total DeFi locked value breaks the $10 billion threshold and other conditions are met, it is expected to reach highs of $6 to $10 in 2026.

#卡尔达诺稳定币提案 Advantages of the Cardano Stablecoin Proposal:

Advantages

1. Enhanced Ecosystem Liquidity
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- Converting treasury funds into the stablecoin USDM can directly enhance the liquidity of DeFi projects within the Cardano ecosystem, attracting more users to participate in lending, trading, and other operations, driving the growth of Total Value Locked (TVL) and narrowing the gap with other public chains.
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2. Self-Sustaining Economic Model
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- An expected annual return of 5%-10% can be achieved by purchasing ADA to return to the treasury, forming a cycle of "stablecoin yields → repurchase native tokens → enhance treasury strength," which provides long-term financial support to the ecosystem and reduces dependence on external financing.
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3. Cooperative Resource Attraction
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- Collaborating with institutions like Brevan Howard can leverage their capital and market influence to improve market-making efficiency, while potentially attracting attention from venture capital firms like a16z, bringing in more capital injection and increasing ecosystem visibility and industry recognition.
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4. Diversified Asset Allocation
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- Part of the treasury funds allocated to stablecoins and Bitcoin can reduce the price volatility risk of holding only ADA, especially during bear markets in the crypto market, where stablecoins can serve as a "buffer asset" to maintain the stability of ecosystem funds.

The proposal aims to enhance the liquidity of stablecoins within the Cardano ecosystem and promote the development of its decentralized finance (DeFi) ecosystem. The main points are as follows:

- Fund Conversion: It is proposed to convert $100 million worth of ADA (the native cryptocurrency of Cardano) from the Cardano treasury into the Cardano native-supported stablecoin USDM.
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- Collaboration to Enhance Ecosystem: After the conversion is completed, it is proposed to collaborate with leading hedge fund Brevan Howard to enhance key activities within the ecosystem, such as increasing total value locked (TVL) and market-making.
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- Returns and Reinvestment: This proposal includes a self-sustaining economic model, expected to yield an annual return of 5%-10%. The returns will be used to purchase ADA from the open market and return it to the treasury, expanding the treasury size and providing continuous support for the ecosystem.

Moreover, Charles Hoskinson mentioned that this stablecoin liquidity strategy could attract large venture capital firms like a16z or Pantera Capital, with transaction sizes between $25 million and $45 million. At the same time, he hopes that this proposal will align the ratio of Cardano's stablecoin with the expectations of the DeFi ecosystem, aiming for a stablecoin issuance to network TVL ratio of at least 33%-40%.

Hoskinson also pointed out that the Cardano treasury currently holds about 1.7 billion ADA and can safely allocate 5%-10% of its funds into stablecoins and Bitcoin without significantly impacting the market, as Cardano's trading volume is sufficient to absorb the sale of $100 million in ADA over 30 to 90 days through various mechanisms without significantly affecting the price of ADA.

Additionally, on a broader level, Hoskinson envisions launching a privacy stablecoin, planning to implement transaction privacy protection based on Cardano's unique blockchain architecture and consensus mechanism using zero-knowledge proof technology.

On June 13, 2028, Ethereum's market showed a downward trend. Due to Israel's airstrikes on Iran, tensions in the Middle East have escalated, spreading panic in the cryptocurrency market, leading to a significant drop in Ethereum's price. As of 11 AM on that day, Ethereum had fallen over 10%.

From recent performance, Ethereum rebounded about 45% in late May, outperforming Bitcoin and DeFi peers, laying a good foundation for June's market. On the technical side, ETH's resistance levels are at $2825 and $3013. If the daily closing price breaks through $3013, it may trigger a rebound towards $4000; if it faces resistance, it may retreat to $2000.

Fundamentally, Ethereum's staking ecosystem is robust, with over 27% of eligible ETH staked, and the staking annual yield is around 3%-4%, which reduces the supply of ETH on exchanges and increases scarcity. Moreover, Ethereum carries the majority of DeFi value and NFTs, and is improving its core protocol through upgrades, with strong fundamentals and ecosystem. On the financial side, by May 2025, the cumulative inflow of ETH ETFs reached a record $564 million, continuing into June, providing some support for the price.

However, Ethereum also faces some risk factors, such as market sentiment being heavily influenced by geopolitical factors. The current upward trend may be structurally difficult to sustain, and investors should be prepared for potential downward volatility in the short term.

On June 13, $BTC 2025, the Bitcoin market showed a downward trend. As of different time points, the specific situation is as follows:

- As of 11:00, Bitcoin fell nearly 5%.
- As of 14:20, Bitcoin was reported at $103,976 per coin, down 3.39%.
- As of around 15:30, Bitstamp quoted Bitcoin below $103,000 per coin, with a daily decline of 5.23%.

CoinGlass data shows that in the past 24 hours, over 246,000 people in the cryptocurrency market were liquidated, with a total liquidation amount of $1.16 billion. The main reason for the decline in Bitcoin prices is Israel's airstrikes on Iran, which have escalated tensions in the Middle East, triggering panic selling in the cryptocurrency market.

Local time 2025, June 13, conflict between Israel and Iran continues to escalate, details are as follows:

- Ongoing Israeli airstrikes: The Israel Defense Forces have launched military operations, conducting airstrikes on multiple Iranian military bases, the Tehran military district, and the key nuclear industrial center in Natanz. The Israeli side claims that the attacks will last for several days, having already conducted five rounds of airstrikes, launching the second wave immediately after the first. Explosions have been heard in several Iranian cities.
- Situation of Iranian losses: An explosion occurred in a residential area in northern Tehran, resulting in casualties, and the local international airport has suspended all flights, with airspace closed. Iranian state media confirmed that important personnel were killed in the attacks, and several individuals related to the nuclear sector were targeted, affecting facilities related to the nuclear program and military assets.
- Iran's retaliatory response: The Iranian armed forces stated that they would retaliate, having launched more than 100 drones at Israel, which is currently intercepting them. Relevant parties confirmed that personnel were attacked and stated that Israel would face a response.

On the international front, the United States declared that it did not participate in the attacks but is on alert, and the scheduled U.S.-Iran talks on June 15 are expected to be suspended. The Chinese Ministry of Foreign Affairs expressed high concern, opposing violations of Iran's sovereignty, security, and territorial integrity, and calling on all parties to avoid escalation of the situation.

#TGE空投 alpha points are just right, maxing out three BNB! Can you eat 100 dollars?

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As of June 12, 2025, 9:43 AM, the price of Bitcoin against the Chinese Yuan is ¥779,595.12, down ¥7,954.24858 from the previous trading day. The market capitalization is ¥154,659.9 billion, with a 24-hour high of ¥793,078.28 and a low of ¥776,353.39, and a 24-hour trading volume of ¥356.36 billion.

As of May 29, 2025, 1:45 AM, the price of Bitcoin against the Indian Rupee is 92,34,007, down 1.50% from the previous trading day.

As of May 31, 2025, 6:05 AM, the price of Bitcoin against the US Dollar is $107,795.7, down 0.82% from midnight UTC. Its circulating supply is 19,877,746 BTC, with a maximum supply of 21,000,000 BTC, and a fully diluted market cap of $2,142.61 billion, currently ranking first in market capitalization.

On May 16, local time, U.S. President Trump stated that due to the inability to negotiate and reach agreements with '150 countries', the U.S. will send letters to some countries to unilaterally impose new tariff rates. In the next two to three weeks, U.S. Treasury Secretary Mnuchin and Commerce Secretary Ross will 'inform' some of America's trade partners about the tariff rates imposed on the goods they export to the U.S. market.

Trump did not specify which countries would receive the letters or which countries still have the opportunity to negotiate. It is currently unclear whether these new tariffs will be imposed based on the rates announced by Trump in April or if they will be adjusted.

The U.S. increasing tariffs refers to the U.S. government's additional taxation on imported goods:

- Reasons: Protect domestic industries, curb strategic rivals, geopolitical intentions, shift domestic conflicts, and satisfy personal and corporate interests.
- Related policies: In 2025, Trump announced varying tariff increases on multiple countries and regions, including Canada, Mexico, and China, as well as on goods like automobiles and semiconductors, and also set baseline tariffs for imported goods.
- Impact: Harm the interests of U.S. consumers and businesses, disrupt exports; damage the global multilateral trading system, increase global economic risks.
- Response from China: Strongly oppose U.S. bullying; if the U.S. escalates tariffs, countermeasures will be taken; urge the U.S. to cancel unilateral tariffs, stop suppression, and resolve differences through dialogue.

The price trend of Ethereum ($ETH ) has a significant impact on the entire cryptocurrency market, as follows:

When prices rise

- Drives altcoins up: A significant rise in Ethereum's price often triggers a 'altcoin season' in the market, where prices of other alternative cryptocurrencies also rise sharply. This is because investor confidence in the entire cryptocurrency market increases, leading funds to flow from mainstream cryptocurrencies like Bitcoin to Ethereum and other altcoins, pushing their prices up.
- Enhances overall market valuation: As the second-largest cryptocurrency by market capitalization, a rise in Ethereum's price directly increases its own market cap and also leads to an increase in the total market cap of the entire cryptocurrency market, enhancing overall market valuation and attracting more investors into the market.
- Attracts capital inflow: A rise in Ethereum's price attracts more capital into the cryptocurrency market, including funds from traditional financial markets and new investors. This capital will not only invest in Ethereum but will also be spread across other cryptocurrencies, promoting market activity and development.

When prices fall

- Undermines market confidence: A fall in Ethereum's price severely undermines investor confidence in the entire cryptocurrency market. Investors may become concerned about the market outlook, reducing investments in other cryptocurrencies or even selling off their cryptocurrencies, leading to a decrease in market activity and a general price decline.
- Triggers market reshuffling: A drop in Ethereum's price may severely impact smaller cryptocurrency projects with weaker risk resistance, leading to significant setbacks or even closures. Meanwhile, stronger projects may take the opportunity to expand their market share, resulting in changes in the market landscape.
- Causes a decline in market trading volume: When Ethereum's price falls, investors' willingness to trade decreases, leading to a noticeable decline in the overall trading volume of the cryptocurrency market, worsening market liquidity and hindering healthy market development.

At the recent cryptocurrency roundtable held by the U.S. Securities and Exchange Commission (SEC), discussions on decentralized finance (DeFi), code, and regulation have drawn widespread attention. SEC Chairman Atkins stated that engineers should not be held accountable for others' use of their code, emphasizing that developers play a role similar to that of providing neutral tools and should not be implicated due to third-party misuse of code. Commissioner Hester Peirce pointed out from a legal perspective that code falls under the category of free speech, protected by the First Amendment, and the SEC cannot regulate a publisher merely because someone has released code that is used for regulated activities, as this could infringe upon their constitutional rights. Erik Voorhees highly praised smart contracts, stating that compared to human regulators, smart contracts can automatically and accurately execute based on preset rules, reducing human intervention and subjective bias, representing a significant advancement in financial regulation methods. This series of viewpoints colliding brings new considerations for the regulatory direction and technological development of the cryptocurrency industry, which may influence the formulation of rules and innovative practices in the future DeFi space.

#TGE is finally qualified to participate in the TGE new token sale. Users on Binance with Alpha points equal to or greater than 229 can participate in this TGE event through the Alpha event page.

#实用交易工具 Below are the categories and core features of trading tools:

Quantitative Trading Platforms

- MultiCharts: Strong strategy backtesting, supports programming, intuitive chart analysis.
- TradeStation: Rich technical indicators, supports automated trading, active community.
- MT4/MT5: Commonly used for Forex/Futures, user-friendly interface, abundant plugin resources (MT5 has stronger functionalities).

Stock Trading Tools

- Tonghuashun: Comprehensive functionality, covering market data, trading, and news.
- Dongfang Caifu: Active community engagement, rich financial data.
- PTrade: Supports automatic monitoring and algorithmic trading, suitable for advanced investors.

Futures Trading Tools

- Wenhua Finance: Complete futures trading functionalities, supports cloud conditional orders, mobile app.
- Boyi Master: Simple interface, low hardware requirements, suitable for ordinary users.
- Tonghuashun Futures: Free, supports multiple markets, can view 10-day intraday trends.

Auxiliary Analysis Tools

- Jinshi Data: Real-time push of fundamental news for trading varieties, categorized by importance.
- Wind: Professional financial data terminal, suitable for institutions and in-depth research.
- Luobo Investment Research: Provides industry and company research reports and investment strategy tools.

Other Tools

- Floating Order Assistant: Links market watching and trading software, improving operational efficiency.
- Forex Sky Eye: Queries broker regulatory information, filters reliable platforms.

As of June 10, 2025, at 6:44 AM, the price of Ethereum fluctuates around $2,650, up 1.2% from the previous day, outperforming Bitcoin. Below is an analysis from technical aspects, on-chain data, and capital flow:

- Technical aspect: The daily chart presents a 'cup and handle' pattern. If it breaks the neckline at $2,700, the potential increase could reach 30%-55%. The 4-hour chart shows that the RSI indicator is at 55 (neutral), and the MACD histogram's negative value is narrowing, indicating strengthened bullish momentum.
- On-chain data: The number of active addresses on the Ethereum network exceeds 920,000, with DeFi's total locked value (TVL) remaining above $85 billion, indicating a high level of ecosystem activity, which supports the price.
- Capital flow: Ethereum ETFs have seen over $630 million flowing in for 11 consecutive days, significantly outperforming Bitcoin, demonstrating a rotation of capital, with institutional funds showing a preference for Ethereum.

Additionally, the Ethereum Pectra upgrade will launch its testnet on June 12, which will enhance transaction processing capacity to 90 TPS and reduce gas fees, supporting long-term value. However, investors should pay attention to the SEC's decision on Ethereum staking ETFs; if approved, it may trigger a short-term spike, while a rejection may warrant caution for a pullback.

#纳斯达克加密ETF扩容 Nasdaq Crypto ETF Expansion, Crypto Market May Welcome New Changes

Recently, Nasdaq submitted an application to the U.S. Securities and Exchange Commission (SEC) to expand the Hashdex Nasdaq Crypto Index US ETF (NCIQ). If approved, it will bring many changes to the crypto market.

Expansion Details and Background

Currently, the index tracked by the NCIQ ETF primarily consists of five cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and others. This time, Nasdaq proposed to include four additional cryptocurrencies: XRP, Solana (SOL), Cardano (ADA), and Stellar (XLM), expanding the types of digital assets tracked by the index to nine. This move closely follows the market's diversification investment trend and reflects the growing demand from institutional investors for different types of crypto asset allocation.

Impact of the Expansion

For Investors

1. Richer Investment Choices: By investing in this ETF, investors can indirectly hold a wider variety of cryptocurrencies, achieving diversification in asset allocation and reducing the risks of concentrated investments in Bitcoin and Ethereum. For example, Solana is known for its high transaction throughput and rapidly developing ecosystem, allowing investors to tap into this area through the ETF.
2. Lower Investment Barriers and Difficulty: There is no need to operate directly on multiple cryptocurrency trading platforms, reducing the technical challenges and security risks associated with managing multiple digital assets.
3. Increased Complexity of Investment Risks: While some risks are diversified, the newly added cryptocurrencies each face their own technical, market, and regulatory risks. For instance, XRP has been involved in legal disputes with the SEC, and its regulatory status remains uncertain, which could impact the overall performance of the ETF.

For the Cryptocurrency Market

1. Enhanced Market Liquidity: Once approved, more funds may flow into the newly added cryptocurrencies, enhancing their liquidity in the market. According to analysis, if the proposal materializes, it could attract over $10 billion in institutional funds, promoting the development of the altcoin market.
2. Increased Market Recognition: Being included in the Nasdaq Crypto ETF means these cryptocurrencies gain more compliance recognition, helping to attract traditional financial investors into the crypto market, accelerating