#美国稳定币法案 The legislation on US stablecoins is at a critical stage. The Senate has passed the GENIUS Act, which aims to implement federal regulation for stablecoin issuers with a market capitalization exceeding $10 billion (such as USDT, USDC), requiring them to hold high-quality dollar assets on a 1:1 basis and comply with anti-money laundering regulations. However, some Democratic lawmakers have withdrawn their support for the bill due to concerns over national security and anti-money laundering provisions, leading to uncertainty about its future. Additionally, the STABLE Act emphasizes the 'redemption rights' of stablecoins, ensuring that users can exchange stablecoins for dollars on a 1:1 basis, and prohibits the issuance of algorithmic stablecoins that lack legal currency backing. These legislative developments could reshape the global stablecoin landscape and reinforce the dollar's dominant position in the digital asset space.
Everyone knows that ETH is undervalued, but if the issue of L2 siphoning is not resolved, it will always be undervalued.
深潮 TechFlow
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Fidelity Report: Multiple on-chain metrics indicate ETH price is undervalued
Author: Biraajmaan Tamuly
Compiled by: Deep Tide TechFlow
Key points:
The report from Fidelity Digital Assets notes that several on-chain metrics for Ethereum indicate that the trading price of ETH is below its valuation.
The BTC/ETH market cap ratio has returned to mid-2020 levels.
The number of active addresses in Ethereum's layer two networks has reached a new high of 13.6 million.
New data from Fidelity Digital Assets suggests a cautiously optimistic outlook for Ethereum, indicating that its poor performance in the first quarter may present an opportunity. According to their latest Signals Report, Ether (ETH) fell by 45% in the first quarter, erasing gains made after the U.S. elections, having peaked at $3,579 in January.
In the last bull market, many people expected that Ethereum's market value would surpass Bitcoin, but now we can only laugh at it 🙄
链捕手ChainCatcher
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Has Ethereum Become an Ethereum Pit? Should We Give Up on ETH?
Source: Talking Outside the Box
Today is the fourth day of the new year. I was originally thinking of visiting the Temple Fair at Ditan or Chaoyang Park, but it seems somewhat meaningless. Let's chat with everyone about the market in these few days.
Coincidentally, yesterday was also V God (Vitalik Buterin)'s birthday (January 31, 1994), and I found that partners in the group were discussing ETH topics more frequently. Of course, it was not to celebrate Vitalik's birthday. Due to ETH's price performance, it seems that people's titles for the Ethereum founder have also changed: V God — V Boy — V Dog — V Hound.