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#卡尔达诺稳定币提案

Stock Price Behavior Analysis Course

Lesson Sixteen: Identification and Meaning of Key Candlesticks

Candlesticks are the language of prices, and certain special candlesticks often reveal shifts in market bullish and bearish forces. Today, we will learn about several common and important key candlesticks to help you interpret the market in real-time.

⸻

1. Engulfing Candlestick
• Bullish Engulfing:
Occurs in a downtrend, where a red candlestick completely engulfs the previous black candlestick, indicating strong buying interest and the potential for a reversal to the upside.
• Bearish Engulfing:
Occurs in an uptrend, where a black candlestick completely engulfs the previous red candlestick, suggesting that sellers are in control and a potential weakening is imminent.

⸻

2. Hammer and Hanging Man
• Hammer:
A long lower shadow with little to no upper shadow, appearing at the end of a downtrend, indicating strong support at the low and potential for a rebound.
• Hanging Man:
Similar in shape to a hammer but appears at the end of an uptrend, suggesting weakening bullish momentum.

⸻

3. Shooting Star and Morning Star
• Shooting Star:
A long upper shadow with a small body, appearing at a high price level, indicating strong selling pressure and often a reversal signal.
• Morning Star (Three Candlestick Formation):
Black candlestick → Small lower shadow candlestick → Large red candlestick, indicating the end of the downtrend and a strengthening of bullish momentum.

⸻

These candlesticks often appear at key support/resistance levels or trend reversal points, serving as strong signals for entry and exit.

$ADA

Compilation of cryptocurrency and blockchain-related news on June 14:

⸻

🏛 U.S. Crypto Legislation and Policy Updates
• Stablecoin Legislation Accelerates
The U.S. Senate has passed the procedural vote for the GENIUS Act, planning to establish a federal regulatory framework for stablecoins. It is currently awaiting further voting and review by the House of Representatives. The GENIUS Act allows stablecoin issuers to assume more capital liquidity responsibilities, which has raised questions from Senator Warren. 
• CLARITY Act in Progress
The House of Representatives is evaluating the CLARITY Act, which aims to clarify the division of responsibilities between the SEC and CFTC. The Senate is also preparing comprehensive legislation to improve stablecoin regulations. 
• Government Advocates Crypto Supporters to Join
David Sacks, the U.S. White House "Crypto Czar," pointed out that the Trump administration is actively promoting friendly crypto regulations, including revisions to stablecoins and digital asset market structures. Some bills have already gained majority bipartisan support.

⸻

🏦 Institutional and Market Events
• Walmart/Amazon Stablecoin Trial
Walmart and Amazon are considering issuing their own stablecoins, which, if successfully implemented, will significantly change the payment ecosystem. This action must wait for the GENIUS Act to pass to obtain clear regulatory protection, and the news has severely impacted Visa and Mastercard's stock prices. 

⸻

🔗 On-Chain Security Incidents
• Echo Protocol Hacked, Emergency Withdrawal Suspension
The Echo Protocol suffered a supply chain attack, resulting in the theft of approximately $266 million from uBTC wallets. The platform has urgently suspended withdrawals, and fund security has not yet been fully restored. 

⸻

📉 Crypto Market Overview
• Bitcoin Falls Slightly
Bitcoin fluctuated today, with prices ranging between $104K–$106K, currently around $105.7K, with a slight short-term pullback.

#卡尔达诺稳定币提案

🧩 Proposal Summary: 100M ADA Position Conversion
• Proposal Content
Charles Hoskinson, the founder of the IOG team, proposed extracting ADA worth approximately $100M from the Cardano treasury and converting it into stablecoins (such as USDM, USDA, iUSD, etc.) and Bitcoin to enhance stablecoin liquidity and DeFi development capacity within the ecosystem.
• Main Objective
Currently, stablecoins on the Cardano chain only account for ~10% of TVL, significantly lagging behind competitors. The proposal aims to increase the stablecoin ratio to 30–40% to activate DeFi applications and ecosystem vitality.

⸻

📉 Market Reaction and Controversy Focus
• Price Volatility
• ADA price fell by 4–6% in the short term after the proposal, triggering market panic. Technical analysis showed ADA testing the $0.625–0.60 support and rebounding to around $0.64.
• Community Disagreement
• Supporters believe this move will help enhance DeFi vitality and inject a stable foundation into the Cardano ecosystem.
• Opponents are concerned that the market may "front-run short positions," putting pressure on ADA prices, especially in a bear market, which could exacerbate the decline.
• Hoskinson argues that it can be executed in phases through over-the-counter (OTC), time-weighted average price (TWAP), etc., to reduce the impact on market prices.

⸻

📌 Strategic Implications and Risk Analysis
• Capital Efficiency Improvement
Converting treasury assets into stablecoins and BTC can generate a 5–10% annualized return, which can be used to reverse-purchase ADA or reinvest in DeFi projects, forming a virtuous financial cycle.
• Ecosystem Positioning Adjustment
Increasing the stablecoin ratio can strengthen Cardano's lending, market-making, and trading foundation, narrowing the gap with Ethereum/Solana in the DeFi field.
• Main Risks and Challenges
1. Market Pressure: Even with algorithms and OTC, psychological panic may still cause downward pressure in advance.
2. Governance Disputes: Is the ecological governance structure mature enough to effectively manage this treasury transfer?
3. Directional Divergence: There is a significant difference in strategic understanding between the Cardano Foundation and the developer team regarding "TVL vs. practicality."

⸻

🔭 Next Steps to Watch
• Whether the community vote passes the proposal
• Whether the timing and method of execution are implemented in batches as Hoskinson said
• Subsequent market reaction: Whether the stablecoin ratio and DeFi activity are significantly improved

$BTC

Stock Price Behavior Analysis Course

Lesson Fifteen: Techniques for Pullbacks and Adding Positions in Trends

In a trending market, prices do not move in a straight line but will experience pullbacks or consolidations. Today, we will learn how to identify these opportunities and seize the moment to add positions or enter the market.

⸻

1. What is a Pullback?
• A pullback is a temporary reverse fluctuation in a trending market.
Example: A brief decline in an uptrend is a pullback.
• A pullback is the process of market rotation and resting; if the pullback is healthy, the trend will continue.

⸻

2. Characteristics of Pullback Patterns

Common patterns include:
• Flag
• Wedge
• Consolidation (Box)

Characteristics are:
➡️ Price convergence, reduced volatility, decreased trading volume, indicating a pause between bulls and bears.

⸻

3. Entry and Adding Position Techniques During Pullbacks
1. Determine that the trend is still intact (high and low point structure is not broken)
2. Wait for signals indicating the end of the pullback (such as breaking the pullback structure, candlestick reversal patterns)
3. The adding point is usually at the end of the pullback or the breakout point at the end of the pullback

⚠️ Remember to set a stop-loss point at the low of the pullback / outside the structure to manage risk.

⸻

Mastering pullbacks is key to evolving from "chasing highs and selling lows" to "buying low in trend."

#以色列伊朗冲突

⚔️ Conflict Overview
• Israel launches large-scale preemptive airstrikes
On June 12, Israel initiated airstrikes named “Operation Rising Lion,” with the first wave targeting Iran's nuclear facilities, missile bases, and the residences of several high-ranking military leaders and scientists. Among those successfully killed were Islamic Revolutionary Guard Corps Commander Hossein Salami, the Chief of Staff, and multiple nuclear scientists.
• Iran swiftly retaliates
In response to Israel's attack, Iran immediately launched approximately 100 drones against Israel, with most incoming targets successfully intercepted by Israel's air defense system.
• Mobilization and airspace lockdown by both sides
Israel closed its domestic airspace and entered a state of maximum alert. Neighboring countries such as Jordan, Iraq, and Saudi Arabia also blocked or intercepted Iranian drones flying over their airspace.

⸻

🌍 International Reactions and Impact
• Regional diplomatic calls for restraint
Countries including China, the UK, France, Japan, and Saudi Arabia have called for both sides to exercise restraint and avoid losing control of the situation.
• US Position
Although not participating in the attack, the US has evacuated personnel from its Middle Eastern embassies, and US officials have urged Iran not to attack US facilities, while encouraging negotiations to continue.
• Oil prices and market volatility
International crude oil prices surged by over 6%, with the market experiencing increased volatility due to rising geopolitical risks.

⸻

🔍 Underlying Factors and Future Observations
• Heightened nuclear threat concerns
Israel claims that Iran has enriched enough material to produce several nuclear weapons and asserts that Iran is nearing the threshold for weaponization, stating that this operation is a self-defense action to prevent its rapid nuclearization.
• Negotiations and diplomatic efforts hindered
The actions occurred on the eve of US-Iran nuclear negotiations in Oman, and this move may cause a disruption in diplomatic talks.
• Risk of full-scale war rising
According to reliable intelligence, Iran may immediately escalate its retaliation, and Israel has also indicated that it will continue its attacks. The spillover effects of regional military conflicts may impact Lebanon, Syria, and the safety of maritime shipping in the Red Sea.

$BTC

Stock Price Behavior Analysis Course

Lesson Fourteen: Techniques and Volume Analysis for Breaking Through Consolidation Areas

In the last lesson, we discussed operations in consolidation areas. Today, we will learn how to determine a breakout from a consolidation area, along with volume analysis to enhance the accuracy of breakout judgments.

⸻

1. Signals for Breaking Through Consolidation Areas
• The price's real body breaks through support or resistance lines, and the closing price stabilizes outside the range.
• Breakouts are usually accompanied by longer candlestick bodies, indicating strong momentum.

⸻

2. The Role of Volume
• Increased Volume: A significant amount of trading occurs during a breakout, indicating that both sides of the market have reached a consensus, making the breakout highly credible.
• No Increase or Decrease in Volume: A breakout may be a false breakout and should be approached with caution.

⸻

3. Confirmation through Pullback after Breakout
• After a price breakout, it often retests the recently broken support or resistance line (now functioning as support or resistance).
• If the pullback does not break below and is accompanied by reduced volume, the breakout is valid, and consideration can be given to following the trend.
• If the pullback breaks below, the breakout fails, and strategies must be adjusted promptly.

⸻

Breaking through consolidation areas often marks the beginning of significant market movements. By combining volume and pullback judgments, one can effectively increase the win rate.

#美国加征关税

Stock Price Behavior Analysis Course

Lesson 13: Basics of Consolidation Range (Price Range) Trading

When the price fluctuates up and down within a range without a clear upward or downward trend, we refer to it as a consolidation range. Today we will learn how to identify a consolidation range and how to trade within it.

⸻

1. Identification of Consolidation Range
• The price oscillates repeatedly between clear support and resistance, with highs and lows roughly fixed.
• Trading volume is usually smaller than during trending periods, indicating decreased market participation.
• It reflects a balance of power between buyers and sellers in the market.

⸻

2. Trading Strategies for Consolidation Range
1. Range Trading
• Buy near the support level and sell near the resistance level.
• The risk is a sudden breakout of the price from the range.
2. Wait for Breakout
• Do not trade within the range; wait for the price to break above resistance or below support, then follow the trend.
• Confirm the validity of the breakout with volume and other signals.
3. Beware of False Breakouts
• False breakouts often occur in consolidation ranges; do not blindly chase trades.

⸻

3. Significance of Consolidation Range
• The consolidation period is a phase where bulls or bears gain strength, serving as a prelude to a trend reversal or continuation.
• Learning to trade in the consolidation range can reduce risks and capture stable profits.

$ETH

Stock Price Behavior Analysis Course

Lesson Twelve: Identification and Response Strategies for False Breaks

Many traders immediately chase orders after a price breaks through a key area, only to find that the market quickly reverses; this phenomenon is called a false break. Today, we will learn how to identify, avoid, and respond to this common trap.

⸻

1. What is a false break?

A false break refers to:
The price briefly crosses support/resistance but does not continue with momentum, instead quickly retracting back into the range, resulting in a failed bullish (or bearish) trap.

⸻

2. Characteristics of a false break
1. Insufficient momentum of the breakout candle:
Typically small in body or with obvious wicks, indicating market hesitation.
2. Lack of volume confirmation:
Volume decreases instead of increases, indicating that market participants do not agree with this breakout.
3. Rapid pullback after the breakout:
The price quickly returns to the original range, even creating new highs or lows in the opposite direction.
4. Commonly occurs at the end of consolidation, after key news, or during a major player’s washout.

⸻

3. Response strategies
• Do not chase the first breakout candle; wait for a close confirmation or effective retest.
• Set stop losses quickly; exit immediately if the breakout fails.
• Conservatives may adopt the 'enter on false break' strategy: wait for a false break to occur, and then trade in the opposite direction, following the market's 'deceptive intention'.

⸻

The occurrence of a false break is essentially a failure of 'market testing'. Understanding how to identify and respond can significantly reduce the chances of loss.

#加密圆桌讨论

Stock Price Behavior Analysis Course

Lesson 11: Behavioral Interpretation of Price at Support/Resistance Zones

Now that you know how to identify support and resistance zones, today we will learn about the behavior patterns of prices in these key areas to determine whether the next move will be a "Reversal" or a "Breakout".

⸻

1. Characteristics of Reversal Behavior (Rejection)

When the price reaches a support/resistance zone but cannot break through, the following signals may appear:
• Long shadow candlestick: A long upper shadow in the resistance zone indicates strong selling pressure; a long lower shadow in the support zone indicates buying support.
• Decreased trading volume: Indicates lack of momentum and insufficient market driving force.
• Quick reversal: The price quickly turns back after touching, forming reversal patterns such as "V-shape" or "pin bar".

➡️ The appearance of these signs indicates that the key area has been "defended," and one can consider trading in the direction of the original trend.

⸻

2. Characteristics of Breakout Behavior (Breakout)

If the price successfully breaks through support or resistance, the following phenomena are commonly observed:
• Strong candlestick passing through the key area, usually a long bullish or bearish candle.
• Increased trading volume at the time of breakout, indicating market consensus.
• A pullback test after the breakout, stabilizing again indicates an effective breakout.

➡️ The occurrence of these situations suggests that the trend is likely to continue, and one can look for opportunities to enter on the pullback.

⸻

Grasping these behavioral details enables you to go beyond merely "drawing lines" and truly understand the power behind the lines.

#实用交易工具

Stock Price Action Analysis Course

Lesson 11: Price Behavior Patterns in Support and Resistance Zones

After knowing where support and resistance are, the next step is to observe how prices behave in these areas. This can help you determine whether the market is going to break through or reverse.

⸻

I. Three Common Behavior Patterns

1. Rejection
• After the price touches support/resistance, a clear long shadow line or strong reverse candlestick (such as a long red or long black) appears immediately.
• Usually occurs after multiple tests, indicating that the area is effective.
• 👉 Suitable for finding reversal opportunities, with stop loss set behind the area.

2. False Break
• The price briefly crosses support or resistance, but quickly pulls back.
• Observe with volume: if the volume does not increase when breaking through, but the volume increases during the pullback, it is a typical false break.
• 👉 It is a high-probability entry point, "reverse operation" in the trend.

3. Breakout with Follow-through
• The price strongly breaks through the area, and the closing price stabilizes outside the support/resistance.
• If accompanied by a significant increase in volume, and there is a confirmation action of retracement without breaking after the breakout, it is an effective breakout.
• 👉 You can enter the market in the trend, with a stop loss set at the starting point of the breakout or the low point of the retracement.

⸻

After understanding these patterns, you will be clearer whether to "wait for a reversal" or "follow the breakout".

#纳斯达克加密ETF扩容

Stock Price Behavior Analysis Course

Lesson 10: Basic Concepts and Drawings of Support and Resistance

Support and resistance are one of the cores of price behavior analysis. They act like the market's "floor" and "ceiling," influencing price rebounds or declines.

⸻

1. What are Support and Resistance?
• Support:
When the price drops to a certain area, a large buying interest emerges, making it difficult for the price to fall further. This point is called support.
→ Similar to a "floor," the price rebounds after hitting the ground.
• Resistance:
When the price rises to a certain area, selling pressure increases, making it hard for the price to continue rising. This point is called resistance.
→ Similar to a "ceiling," the price falls back after reaching the top.

⸻

2. Basic Methods of Drawing Support and Resistance
1. Observe turning points:
Look for positions where the price has rebounded or declined multiple times in the past; these areas are most likely to be support or resistance.
2. Use closing prices or shadows range:
If the price fluctuates significantly, you can draw a "price range" instead of a single line, which is more realistic.
3. Conversion Principle:
Once support is broken, that area often becomes future resistance. The opposite is also true, known as the conversion of support and resistance.

⸻

These positions not only help you determine entry or stop-loss points but can also be combined with candlestick patterns and trends for multiple confirmations.

$BTC

Stock Price Behavior Analysis Course

Session Nine: Three Major Signs of Trend Reversal

After mastering trend structure, the next step is to learn how to identify whether a trend is about to reverse. Market reversals usually do not happen without warning; they leave signs behind.

⸻

1. Structure Break

When an upward trend fails to make new highs and the low falls below the previous Higher Low, it indicates that the original bullish structure has been broken. Conversely, in a downward trend, if it fails to make new lows and the high breaks above the previous Lower High, the bearish structure is broken.

👉 Structure break is the most direct reversal signal.

⸻

2. False Breakout
• Price breaks above the previous high (or below the previous low) but quickly retracts.
• This indicates that the market was unable to sustain momentum, instead luring in buyers (or sellers).
• Commonly occurs at the end of a trend, serving as a typical reversal sign.

⸻

3. Volume Divergence
• Price makes new highs, but volume does not increase proportionately.
• This indicates a decline in market participation and weakening momentum, often seen at the end of a trend.
• When paired with price structure analysis, it can improve the accuracy of reversal predictions.

⸻

These three major signs are important tools in price behavior analysis, helping you to "not guess the top but to retreat when signs are evident."

#中美贸易谈判

Stock Price Behavior Analysis Course

Lesson 8: Highs and Lows in Trend Structure and Trend Lines

Continuing from the last lesson, today we will learn how to identify structural changes in trends and visualize them using "trend lines".

⸻

1. Determining Highs and Lows of Trends
• In an uptrend, you should see:
A higher high (Higher High, HH)
A higher low (Higher Low, HL)
• In a downtrend, you should see:
A lower low (Lower Low, LL)
A lower high (Lower High, LH)

These points form the "skeleton" of the trend.

⸻

2. Methods to Draw Trend Lines
• Uptrend Line:
Connect two or more "Higher Lows" and extend to the right. This line acts as support.
• Downtrend Line:
Connect two or more "Lower Highs" and extend to the right. This line acts as resistance.

⸻

3. Applications of Trend Lines
• Trend lines can be used as references for entry and exit: price touches the line but does not break → may be an accumulation point; breaks → may be a reversal signal.
• The steeper the angle of the trend line, the stronger the trend, but also the more unstable.

$BTC

Stock Price Behavior Analysis Course

Lesson 7: Definition and Structure of Price Trends (Part 1)

Candlestick patterns are details for observing market sentiment, but what really determines your profits is whether you trade in the direction of the trend. Today we start learning the basic concepts of "trends."

⸻

What is a trend?

A trend is the directional change of price over a period of time. It is mainly divided into three types:
1. Uptrend
• Higher highs and higher lows.
• Indicates that buyers are in control, and one should focus on going long.
2. Downtrend
• Lower lows and lower highs.
• Sellers dominate the market, and one should consider shorting or avoiding.
3. Sideways/Range
• Price fluctuates within a range, with no clear direction.
• The market is in a tug-of-war between buyers and sellers, making it difficult to trade.

⸻

Why are trends important?

"Trading with the trend" is the core principle of trading. Trading against the trend may yield quick profits but carries extremely high risks; whereas trading with the trend, though slower, is stable and replicable.

#韩国加密政策

Stock Price Behavior Analysis Course

Session Six: Multiple Candlestick Patterns and Price Signals (Part Two)

We continue to explore multiple candlestick patterns, today we introduce three classic and practical patterns that often appear in key reversal areas.

⸻

1. Three White Soldiers
• Three consecutive bullish candles, each opening within the body of the previous one and closing near the high.
• Indicates bullish control, strong reversal or continuation signal.
• The closer it appears to the bottom, the more reliable the signal.

⸻

2. Three Black Crows
• Three consecutive bearish candles, each opening within the body of the previous one and closing near the low.
• Strong bearish trend, indicating a weakening trend or beginning of a decline.
• Particular caution is needed if it appears at a high level.

⸻

3. Tweezers Top/Bottom
• Two candlestick highs (or lows) that are almost identical.
• If two long upper shadow candles appear at a high, it indicates strong resistance, potentially reversing downwards.
• If two long lower shadow candles appear at a low, it indicates strong support, potentially bouncing back.

⸻

#看懂K线

Stock Price Behavior Analysis Course

Lesson 5: Multiple Candlestick Patterns and Price Signals (Part 1)

In the previous lesson, we learned about single candlesticks. Now let's look at combinations of multiple candlesticks, as this allows us to more accurately judge market trends, since market sentiment often manifests over a series of consecutive candlesticks. Today, we will first learn three common multi-candlestick patterns.

⸻

1. Engulfing Pattern
• Bullish Engulfing:
The second bullish candlestick completely engulfs the previous bearish candlestick (including body and shadow), usually occurring in a downtrend, indicating strong buying pressure and a potential reversal.
• Bearish Engulfing:
The second bearish candlestick engulfs the previous bullish candlestick, often appearing at the end of an uptrend, signaling that selling pressure is returning and a potential downturn may begin.

⸻

2. Morning Star and Evening Star
• Morning Star: A sequence of three candlesticks, starting with a long bearish candlestick, followed by a doji or short candlestick (indicating hesitation), and concluding with a strong bullish candlestick. Commonly found at bottoms, indicating a potential upward reversal.
• Evening Star: The opposite of the Morning Star, appearing at a high point, suggesting that the trend will reverse downward.

⸻

3. Piercing Line and Dark Cloud Cover
• A combination of two candlesticks. The first candlestick is a long bearish or bullish one, and the second is in the opposite direction with its body penetrating more than 50% into the first.
• Indicates a strong intent to reverse, but not to the extent of engulfing, still holds reference value.

#常见交易错误

In cryptocurrency and traditional financial markets, common trading errors often lead to losses or missed opportunities. Here are some common mistakes investors make and their potential risks, applicable to both novice and experienced investors:

⸻

💥 1. Buying High and Selling Low (FOMO and Panic Selling)
• Mistake: Entering the market when prices soar (buying high), or selling in panic due to market declines (selling low).
• Result: Often buying at the peak and selling at the bottom, resulting in losses.

🔎 Recommendation: Set strategies and take-profit/stop-loss points to avoid emotionally driven trading.

⸻

📉 2. Excessive Leverage
• Mistake: Using high leverage (e.g., 10x or more) to attempt quick profits.
• Result: Even small fluctuations can lead to liquidation; capital can quickly go to zero.

🔎 Recommendation: Even experienced traders should use leverage cautiously and control position risk.

⸻

❌ 3. Ignoring Risk Management
• Mistake: Investing all funds in a single cryptocurrency without setting stop-loss orders.
• Result: If the market turns against you, you could suffer significant losses.

🔎 Recommendation: Diversify asset allocation and strictly adhere to risk management discipline.

⸻

🕒 4. Short-Term Frequent Trading (Over-Trading)
• Mistake: Over-believing in one's ability to 'master the market rhythm,' entering and exiting frequently.
• Result: Accumulation of transaction fees, missing out on major market moves, and psychological fatigue.

🔎 Recommendation: Confirm trading logic and goals, avoid trading for the sake of trading.

⸻

📉 5. Listening to Rumors / Not Doing Homework
• Mistake: Blindly following recommendations from internet users or KOLs (Key Opinion Leaders).
• Result: Easily falling into the 'cutting the leeks' trap set by market makers.

🔎 Recommendation: Think independently, make decisions based on fundamentals and technical analysis.

⸻

🔄 6. Not Adjusting Strategies / Rigid Positions
• Mistake: Persisting in holding losing positions even when the market clearly turns.
• Result: Getting deeper and deeper into losses, missing opportunities to recover.

🔎 Recommendation: Regularly review holdings and strategies, and adjust decisively when necessary.

⸻

🎰 7. Treating Trading as Gambling
• Mistake: Entering and exiting based on intuition, being impatient, wanting to 'make it all back.'
• Result: Continuous losses, ultimately losing capital and confidence.

🔎 Recommendation: View trading as a disciplined systematic process, avoid a 'go all in' mentality.

$USDC

As of June 7, 2025, the focus of cryptocurrency news is on the progress of U.S. crypto legislation and stablecoin regulatory policies.

⸻

🇺🇸 Progress of U.S. Crypto Legislation

1. The "GENIUS Act" stablecoin bill passed the Senate review.

On May 20, the U.S. Senate passed the "GENIUS Act" (Guiding and Establishing National Innovation for U.S. Stablecoins) with 66 votes in favor and 32 against. This bill requires stablecoin issuers to hold U.S. short-term government bonds or dollars in a 1:1 ratio as reserves and to obtain approval from federal or state regulatory agencies. The aim is to establish a clear regulatory framework for stablecoins and enhance market confidence. 

2. The House advances the "Digital Asset Market Structure Bill."

French Hill, chairman of the House Financial Services Committee, announced that a second full hearing will be held on June 4, with plans to discuss the bill on June 10. The bill aims to establish a clear regulatory structure for the cryptocurrency asset market, and President Trump has set August 4 as the legislative deadline. 

⸻

🏦 Stablecoin Regulation and Market Impact

1. Stablecoin legislation may drive funds into the U.S. Treasury market.

Analysts indicate that the stablecoin bill could attract $3 to $4 trillion in funds into the U.S. Treasury market, enhancing the international status of the dollar. However, some experts warn that mandating stablecoins to be tied to U.S. Treasuries may restrict market flexibility. 

2. Taiwan should accelerate the pace of stablecoin legislation.

Former Executive Yuan Premier Chen Chien-jen stated that major countries globally, such as the U.S., Hong Kong, and the EU, have been actively promoting stablecoin legislation, and Taiwan should quicken its pace to avoid falling behind in the competition for digital assets. 

⸻

📊 Market Structure and Regulatory Dynamics

1. SEC promotes cryptocurrency asset regulatory rules.

Paul Atkins, chairman of the U.S. Securities and Exchange Commission (SEC), announced that clear regulatory rules for cryptocurrency assets will be formulated, covering areas such as issuance, custody, and trading, and considering allowing registered brokers to trade non-security assets like Bitcoin and Ethereum through alternative trading systems (ATS). 

2. Congress actively interacts with the industry.

The SEC's cryptocurrency working group has held 104 meetings with the industry to continue exploring regulatory pathways and has engaged in discussions with projects like Ripple regarding regulatory clarity and a "safe harbor" mechanism. 

#科技巨头入场稳定币

As of June 7, 2025, the dynamics of U.S. cryptocurrency legislation and tech giants entering the stablecoin space are as follows:

⸻

🇺🇸 U.S. Cryptocurrency Legislative Progress

1. Bitcoin Act of 2025

Introduced by Senator Cynthia Lummis on March 11, 2025, this bill aims to provide a clear framework for the regulation of Bitcoin, emphasizing its legal status as a digital asset. The bill is currently under review by the Senate Committee on Banking, Housing, and Urban Affairs.

2. GENIUS Act: Stablecoin Regulatory Framework

The Senate passed the GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins Act) on May 20 with a vote of 66 to 22. This bill aims to establish regulatory standards for the issuance and trading of stablecoins. Supporters believe this will promote the development of stablecoins as mainstream payment tools, while opponents worry that the bill fails to adequately address potential conflicts of interest.

3. Presidential Executive Order: Supporting Digital Assets

President Donald Trump signed an executive order early in 2025, announcing support for digital assets, blockchain technology, and related innovations, emphasizing their importance to the U.S. economy and international leadership.

⸻

🏢 Tech Giants Entering the Stablecoin Space

With the rapid growth of the stablecoin market, major tech companies are actively exploring its applications:
• Apple, Google, Airbnb, and X (formerly Twitter): These companies are negotiating with cryptocurrency firms and plan to integrate stablecoins into their payment systems to reduce transaction costs and enhance cross-border payment efficiency.
• Google Cloud: The company has stated that it is evaluating the application of stablecoins to meet customer demand for efficient, round-the-clock payments and to provide relevant ledger technology support.
• X (formerly Twitter): Elon Musk's social platform is in discussions with crypto companies to integrate stablecoins into its X Money application, expanding users' payment capabilities.

#交易手续费揭秘

📌 What is a trading fee?

A trading fee is a charge that the platform imposes on you when you buy or sell on a cryptocurrency exchange (such as Binance, Coinbase, OKX, etc.). This is one of the main sources of income for the exchange.

⸻

💰 Common types of fees
1. Maker Fee
• You place an order and wait for someone to match it (such as a limit order), usually with a lower fee.
• Reason: You provide liquidity, which is a positive action for the exchange.
2. Taker Fee
• You take an existing order (such as a market order), usually with a higher rate.
• Because you consume liquidity.
3. Contract trading fee
• Generally cheaper than spot trading, but sometimes there may be a funding rate.
4. Withdrawal fee
• Withdrawing assets from the exchange to your wallet incurs a fee, depending on blockchain congestion and the type of cryptocurrency.