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$USDC USDC (USD Coin) is a dollar stablecoin jointly issued by Circle and Coinbase, pegged to the US dollar at a 1:1 ratio, with cash and short-term US Treasury bonds as reserves to ensure price stability. Its core advantages include:
1. Stability and Transparency: Regular audits of reserves, compliance recognized by regulators, particularly outstanding performance in European and American markets;
2. Wide Application: As a mainstream trading pair and DeFi collateral, it supports multi-chain circulation (such as Ethereum, Solana), with a projected 78% increase in circulation in 2024;
3. Hedging Function: Serves as a safe haven for funds during volatility in the crypto market, with a recent weekly increase of 1.1 billion in circulation.

In terms of risks, attention needs to be paid to tightening regulations (such as the 'GENIUS Act'), competition from USDT, and the squeezing effect of traditional financial institutions (such as PayPal) entering the market. The current market value is $61.4 billion, firmly holding the second position in the industry.

#我的交易风格 A stable trading style in the cryptocurrency market should be based on strict risk control and rational decision-making. Core strategies include:
1. Light positions with low leverage: control leverage to 3-5 times to avoid the risk of liquidation caused by high leverage;
2. Trend following: use technical indicators (such as MA, RSI) to determine trends, operate in the direction of the trend, and avoid trading against the trend;
3. Diversified investment: allocate funds to mainstream coins (such as BTC, ETH) and stablecoin investments to reduce the impact of volatility from a single asset;
4. Stop-loss discipline: preset stop-loss points (such as a 3% hard stop-loss), dynamically adjust take-profit levels, and protect the principal;
5. Regular withdrawals: withdraw a portion of profits weekly to lock in earnings and reduce emotional interference.

Maintain a calm mindset, avoid chasing highs and selling lows, and persist in compound growth over the long term.

On June 17, 2025, the U.S. Senate passed the 'GENIUS Stablecoin Act' by a vote of 68 to 30, establishing a federal regulatory framework for the first time. The act requires stablecoins to be backed 100% by cash, short-term U.S. Treasury securities, and other high-quality assets, and it prohibits algorithmic stablecoins and yield-bearing products. The legislation adopts a tiered regulatory approach (federal oversight for amounts over $10 billion), clarifies that stablecoins are not securities or commodities, and strengthens bankruptcy protection and anti-money laundering provisions. This move aims to consolidate the digital dominance of the U.S. dollar and is expected to drive a surge in demand for U.S. Treasury securities, but the controversy focuses on the high barriers for small businesses and potential conflicts of interest related to Trump-affiliated enterprises.

Why is there such a big difference between spot and contract for $ZKJ

#卡尔达诺稳定币提案 Cardano is advancing several stablecoin innovation proposals, primarily including:
1. Algorithmic stablecoin Djed: Utilizes an over-collateralization mechanism (400-800% ADA reserve) and a dual-token model (stablecoin DJED + reserve token SHEN), automatically adjusting supply and demand through smart contracts to maintain a $1 peg, avoiding collapse risks similar to Terra.
2. Privacy stablecoin plan: Founder Hoskinson proposed the development of a stablecoin with cash-level privacy, supporting selective disclosure to meet anti-money laundering compliance, expected to launch in 2025.
3. Fiat-collateralized USDA: Issued by EMURGO, with a 1:1 dollar reserve, aimed at enhancing liquidity in the DeFi ecosystem.

These proposals, combined with Cardano's efficient PoS consensus and smart contract security, aim to provide diversified solutions for payments, cross-border transactions, and privacy finance.

#卡尔达诺稳定币提案 Cardano is advancing multiple stablecoin innovation proposals, which include:
1. Algorithmic Stablecoin Djed: Adopts an over-collateralization mechanism (400-800% ADA reserve) and a dual-token model (stablecoin DJED + reserve token SHEN), automatically adjusting supply and demand through smart contracts to maintain a $1 peg, avoiding risks of collapse similar to Terra.
2. Privacy Stablecoin Initiative: Founder Hoskinson proposed the development of a stablecoin with cash-level privacy, supporting selective disclosure to meet anti-money laundering compliance, expected to be launched in 2025.
3. Fiat-Collateralized USDA: Issued by EMURGO, with a 1:1 dollar reserve, aimed at enhancing liquidity in the DeFi ecosystem.

These proposals, combined with Cardano's efficient PoS consensus and smart contract security, aim to provide diversified solutions for payments, cross-border transactions, and privacy finance.

ADA is the native token of the Cardano blockchain, known for its scientifically rigorous technical architecture and environmentally friendly features. It adopts a dual-layer design (settlement layer and computation layer) and the Ouroboros proof-of-stake (PoS) consensus mechanism, with energy consumption only 0.01% of that of Bitcoin, supporting high throughput and smart contracts. The total supply of ADA is 45 billion, primarily used for transaction payments, staking rewards, and network governance voting. In 2025, its price fluctuated significantly, influenced by technical upgrades (such as cross-chain interoperability), institutional collaborations (such as JPMorgan being added to the watchlist), and regulatory policies. Despite facing competition and regulatory risks, its academic background and the expansion of the DeFi ecosystem (supporting over 2000 DApps) are still seen as long-term value support.

As of June 13, 2025, the price of Ethereum (ETH) has shown significant volatility, hitting a daily low of $2,433 and closing at $2,497, down 8.6%, primarily dragged down by geopolitical risks (such as the Middle East conflict), leading to increased market risk aversion. However, another data point during the same period showed that the ETH price once soared to $3,680, with a 24-hour increase of 7.46%, possibly related to institutional capital inflows (such as a net increase of 76,694 ETH in ETFs) and technical breakthroughs at resistance levels.

Key influencing factors:
1. Technical upgrade: The Pectra upgrade (launching in July) will increase TPS to 90 and reduce Gas fees, benefiting ecological development in the long term.
2. Institutional demand: Spot ETFs have seen a net inflow of $321 million for 12 consecutive days, and if staking ETFs are approved, they may further push up prices.
3. Market sentiment: The ETH/BTC exchange rate has reached a ten-year high, indicating a clear trend of capital shifting from Bitcoin to Ethereum.

Short-term outlook: If it breaks through the resistance level of $2,680, it may test the range of $3,600-$3,900; if it falls below the support of $2,381, it may retrace to $2,200. In the long term, the deflationary mechanism (31% of ETH is staked) and technical upgrades support the valuation.

As of June 13, 2025, the Bitcoin price has shown significant volatility, with an intraday low of $102,739.6 and closing at $103,817, a decline of 1.78%, continuing the correction trend since the June 9 peak of $110,404.9. The main reasons for the market adjustment include:
1. Technical pressure: The psychological support level of $103,000 has been breached, with MACD bearish divergence and RSI falling below the neutral line of 50, exacerbating short-term selling.
2. Macroeconomic risks: Hawkish signals from the Federal Reserve boosting the dollar index, undermining Bitcoin's 'digital gold' narrative, compounded by uncertainties in China-U.S. trade frictions.
3. On-chain signals: Large wallet sell-offs and outflows of stablecoins indicate a weakening willingness for capital entry, with over 75% of derivative market long positions liquidated.

Long-term support factors include institutional accumulation (e.g., Bitcoin ETF size reaching $58.2 billion) and the scarcity of the halving mechanism. Short-term focus on the key support level of $100,000, with a potential drop or test of $97,600.

Israel's air strikes on Iran have heightened tensions in the Middle East, leading to a significant increase in international gold prices. As of June 13, 2025, the spot gold price briefly surpassed $3,444 per ounce, with a weekly increase of over 3.5%, nearing the historical high of April ($3,500). The main reason for the market's flight to safety is:
1. Geopolitical risk drive: The conflict may escalate into regional war, even triggering extreme risks of Iran blocking the Strait of Hormuz, prompting investors to turn to gold for safety.
2. Central bank gold purchases support: Global central banks continue to increase their gold reserves (for example, China has increased its reserves for seven consecutive months), combined with the trend of 'de-dollarization', which strengthens the long-term demand for gold.
3. Inflation and policy expectations: The US May CPI data is moderate, and the market bets on the Federal Reserve cutting interest rates, further boosting gold prices.

The short-term trend of gold prices depends on whether the conflict escalates; if the situation worsens, it may break historical highs.

As of June 13, 2025, the price of Bitcoin has experienced significant fluctuations, recently retreating from a historical high of $112,000 to around $106,000. Market analysis indicates that short-term bearish sentiment dominates, and after the price broke below the key support level of $106,500, it may further drop to the range of $102,000 to $105,000. However, the medium to long-term trend is still viewed positively by some institutions, with the Trump administration's crypto-friendly policies and expectations of easing US-China trade tensions supporting capital inflows. Technical analysis shows that if the price can stabilize above $106,000, it may alleviate the downward pressure; conversely, a drop below $105,000 could accelerate the decline. More than $500 million in long positions have been liquidated across the network, reflecting the market's leverage risk.

The recent price fluctuations of Ethereum (ETH) have been significant, with the current price on June 12, 2025, reported at $2566.75, a daily decline of 2.92%, trading in the range of $2539.89 to $2648.56. The market is influenced by multiple factors:
1. Technical Upgrades: The Pectra upgrade (launching in July) increases TPS to 90 and reduces gas fees, temporarily boosting prices by 40% to $2600;
2. Institutional Funds: Spot ETFs have seen a net inflow of $321 million for 12 consecutive days, and the staking ETF is expected to attract long-term capital;
3. Risk Factors: Regulatory uncertainties (such as the SEC's review of staking ETFs) and high leverage (with $40 billion in open contracts) may trigger severe volatility;
4. Competitive Pressure: The low fee advantage of chains like Solana is diverting ecosystem activity.
The short-term target is to break through $2900, and in the medium term, if the ETF is approved, it may challenge $4000. Caution is needed for a pullback to the support level of $2300.

The core of the 2025 Crypto Roundtable Discussion revolves around the restructuring of regulatory frameworks and tokenization technology, with the main trends as follows:

1. Regulatory Shift: The U.S. SEC is shifting from 'enforcement-driven' to 'rules-based', proposing a layered regulatory system, applying securities law to centralized tokens, implementing behavioral regulation for DeFi, and launching a 'regulatory sandbox' to test compliance solutions.

2. Wave of Tokenization: Traditional financial giants like BlackRock and Fidelity are accelerating asset on-chain, with significant growth in the tokenization scale of real-world assets (RWA) such as real estate and government bonds, and Nasdaq plans to launch an on-chain trading platform.

3. Controversies and Challenges: The ambiguity of the SEC's definition of 'securities' raises questions, the feasibility of DeFi compliance is in doubt, and the balance between privacy and transparency has become a focal point (e.g., DART tracking system).

4. Global Impact: U.S. policy adjustments are prompting regulatory coordination in regions such as the EU and Singapore, institutional capital is accelerating entry, and Bitcoin ETFs and compliant DeFi products are gaining favor.

These discussions mark a critical turning point for the crypto industry from wild growth to compliance.

In June 2025, Ethereum (ETH) welcomed a strong rebound, with the price breaking through $2,827 (a new 15-week high), and a 24-hour increase of 19.6%. Core driving factors include:
1. Technical upgrades: The Pectra hard fork enhances staking limits and scalability, combined with the EIP-7251 proposal optimizing staking liquidity;
2. Market sentiment: Bitcoin breaking through $110,000 has driven a recovery in the crypto market, with $1.8 billion in short positions facing liquidation pressure;
3. Ecological expansion: Active addresses on Layer 2 networks like Base surged by 70%, benefiting the mainnet's value;
4. Macro environment: Expectations for interest rate cuts by the Federal Reserve are rising, favoring risk assets.

Risk points: Unsettled derivatives contracts have reached $40 billion, with excessive leverage; if it falls below $2,600, it may trigger a $2 billion long liquidation. In the short term, attention is on the breakthrough of the key resistance level at $2,800.

In June 2023, the Nasdaq cryptocurrency ETF reached a key expansion milestone, promoting further integration of the cryptocurrency market with traditional finance:

1. Index Expansion Proposal: Nasdaq submitted a rule change application to the SEC, proposing to expand the benchmark of the Hashdex Crypto Index ETF (NCIQ) from the NCIUS index, which includes only BTC and ETH, to the NCI index covering 9 tokens, adding mainstream currencies such as ADA, XRP, SOL, etc.
2. Regulatory Progress: The SEC is expected to make a final decision by November 2, 2025. If approved, this will significantly reduce the tracking error of the ETF and pave the way for diversified investment.
3. Market Impact: This move may attract more institutional funds, accelerating the mainstream adoption of crypto assets. Currently, the NCIQ has a size of over $8.2 billion, with a net inflow of $1.496 billion in the past month.

Analysts believe that the approval of the expansion may trigger a new wave of cryptocurrency ETF issuance, but it is necessary to pay attention to the SEC's policy direction and market liquidity risks.

In June 2025, the cryptocurrency market showed a significant rebound trend, with Bitcoin breaking through $109,000, and mainstream coins like Ethereum rising simultaneously. This round of rebound is mainly driven by the following factors:
1. Policy Favorable: The U.S. SEC released signals of regulatory easing, and the Trump administration has a friendly attitude towards cryptocurrency assets, boosting market confidence.
2. Institutional Entry: BlackRock's Bitcoin spot ETF scale surpassed $70 billion, and Circle's listing valuation reached $7.2 billion, driving continuous capital inflow.
3. Technical Breakthrough: The Solana ecosystem is active, DeFi is reviving, and the AI + Meme concept is rising, attracting retail investors to participate.
4. Macroeconomic Environment: The market's expectation for interest rate cuts from the Federal Reserve is heating up, and risk appetite is recovering.

Analysts predict that if the market breaks through the $1.25 trillion market cap resistance level, it may further rise by 23%. Investors are advised to pay attention to policy dynamics and capital flows, and to allocate assets reasonably.

#实用交易工具 Binance Exchange offers a variety of practical trading tools to help users efficiently manage digital assets:

1. Trading Functions: Supports multiple trading types including spot, futures, and leverage, providing order tools such as limit orders and stop-loss orders.
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3. Market Analysis: Real-time candlestick charts, depth charts, and market data to assist in decision-making.
4. Security Assurance: Utilizes cold storage, multi-factor authentication, and encryption technology to ensure asset security.
5. Community and Information: Active community and real-time market updates to facilitate learning and communication.

Suitable for all scenarios from beginners to professional traders, balancing convenience and security.

As of June 9, 2025, the price of Bitcoin (BTC) fluctuates around $105,600, with intensified long-short battles. Key influencing factors include:
1. Supply and demand: The rising mining difficulty (slowing supply) and institutional accumulation (over 1.1 million BTC held by US spot ETFs) provide support.
2. Technical analysis: MACD momentum is weakening, but the 50/200 day moving averages are still in a bullish arrangement, with short-term attention on the resistance break at $107,000.
3. Macroeconomic environment: Federal Reserve policy expectations (if interest rates are cut or liquidity is released) and geopolitical events (such as the US HR 3798 bill promoting Bitcoin as part of strategic reserves) affect market sentiment.
4. Risk warning: Regulatory uncertainties (such as the SEC's review of ETH) and shrinking on-chain transaction volume (miners' income plummeting by 87%) may exacerbate volatility.

Operation suggestion: If it breaks through $107,000, consider going long with a target of $115,000; if it falls below the support of $104,800, it may retrace to $100,000.

The impact of the China-US trade negotiations on the cryptocurrency market shows multiple facets:
1. Short-term volatility: If the negotiations ease (such as a tariff suspension agreement in May 2025), market risk appetite may recover, and funds may flow from cryptocurrencies to traditional assets, leading to a correction in BTC and others; however, if the details of the agreement fall short of expectations (such as vague progress in negotiations on June 9), the crypto market will still be under pressure.
2. Liquidity expectations: If negotiations reduce the pressure on the Federal Reserve to raise interest rates, a weaker dollar may benefit the liquidity of the crypto market.
3. Safe-haven demand: In the long term, the unresolved structural contradictions between China and the US make the 'digital gold' attribute of crypto assets still attractive.
4. Regulatory linkage: Negotiations may promote coordinated regulation between China and the US, accelerating industry compliance, but in the short term may suppress gray trading.

It is advisable to pay attention to tariff adjustments, Federal Reserve policies, and regulatory dynamics.

#看懂K线 K line chart (candlestick chart) is the core tool of technical analysis in the cryptocurrency market, composed of the body (the difference between the opening and closing prices) and the wicks (the fluctuations between the highest/lowest prices and the body). A bullish candle (usually green) indicates that the closing price is higher than the opening price, signaling an upward trend; a bearish candle (red) indicates the opposite. Key patterns include:
1. Hammer (long lower wick): may indicate a reversal in a downtrend.
2. Doji: balance between buyers and sellers, signaling a potential change in trend.
3. Large bullish/bearish candle: the longer the body, the stronger the trend.
Combining trading volume and moving averages (such as golden cross/dead cross) can improve judgment accuracy, but one should be aware of the limitations of a single candlestick and it is recommended to conduct a comprehensive analysis across multiple time frames.