Headlines
▌The total market value of stablecoins exceeded $230 billion for the first time
According to The Block, on Thursday, the total market value of stablecoins exceeded $230 billion for the first time, as U.S. regulators worked hard to promote the adoption of stablecoins. According to DefiLlama data, the current total market value is $230.45 billion, an increase of $2.3 billion in the past seven days. Compared with the same period last year, the market value of stablecoins has increased by 56%. In the overall market value, Tether's USDT stablecoin dominates, with a market value of nearly $144 billion, accounting for 62.6%, followed by Circle's USDC, with a market value of $59 billion.
▌Central Bank: Choose the right time to reduce the reserve requirement ratio and interest rates
The Monetary Policy Committee of the People's Bank of China held its first quarter regular meeting in 2025. The meeting studied the main ideas of monetary policy in the next stage, and suggested increasing the intensity of monetary policy regulation, improving the foresight, pertinence and effectiveness of monetary policy regulation, and choosing the right time to reduce the reserve requirement ratio and interest rates according to the domestic and international economic and financial situation and the operation of financial markets. Maintain ample liquidity, guide financial institutions to increase monetary and credit supply, and match the growth of social financing scale and money supply with the expected targets of economic growth and overall price level. Strengthen the guidance of the central bank's policy interest rate, improve the transmission mechanism of market-oriented interest rate formation, give play to the role of the self-discipline mechanism of market interest rate pricing, and strengthen the implementation and supervision of interest rate policies. Promote the decline of the overall financing cost of society.
Market
As of press time, according to Coingecko data:
BTC's latest transaction price is $84,279.62, with a daily increase or decrease of -0.2%;
ETH's latest transaction price is $1,984.10, with a daily increase or decrease of -0.5%;
BNB's latest transaction price is $635.08, with a daily increase or decrease of +1.2%；
SOL's latest transaction price is 128.98 US dollars, and its intraday increase or decrease is +0.3%；
DOGE's latest transaction price is 0.1689 US dollars, and its intraday increase or decrease is -0.1%；
XPR's latest transaction price is 2.40 US dollars, and its intraday increase or decrease is -1.7%.
Policy
▌Trump: A full ceasefire in the Russian-Ukrainian conflict will be achieved soon
US President Trump said that a full ceasefire in the Russian-Ukrainian conflict will be achieved soon.
Blockchain Application
▌Farcaster launches data layer Snapchain mainnet
On March 22, according to Theblock, the decentralized social media protocol Farcaster launched the mainnet of the "blockchain-like" data layer Snapchain, and simultaneously launched the "Airdrop Offers" incentive plan to reward users who actively use decentralized social media platforms. According to co-founder Varun Srinivasan when announcing the launch of the Snapchain testnet in December, the new system can handle more than 10,000 transactions per second. It reportedly took only six months from conception to official use.
Earlier news, Farcaster plans to launch a new data layer Snapchain in Q1 next year.
▌BNB Chain has completed the Pascal Pascal hard fork
BNB Chain has successfully completed the Pascal Pascal hard fork. This upgrade introduces the EIP-7702 smart contract wallet, which aims to improve EVM compatibility and developer support, as well as functional optimizations such as fuel fee abstraction, smart payment interface and batch transactions.
The official roadmap for future improvements was announced: the Lorentz upgrade scheduled for April 2025 aims to reduce the block time to 1.5 seconds, improve transaction speed and network efficiency. After that, the Maxwell upgrade in June 2025 will further speed up the block time to 0.75 seconds.
Cryptocurrency
▌Hester Peirce: Cryptocurrency startups should be allowed to raise funds using NFT
At the SEC's first crypto roundtable, Hester Peirce said that crypto projects should be allowed to raise funds through tradable NFTs, and revealed that NFTs may become the next area for the SEC to issue an exemption statement after PoW mining. Peirce said that projects such as Stoner Cats and Flyfish Club that raise funds through NFTs and provide holders with specific rights (such as access rights and membership) may not be considered securities. She pointed out that if the SEC can provide a reference framework for NFT issuers, it will be very helpful for the development of the industry. Previously, the SEC sued multiple NFT projects under securities laws during Gary Gensler's tenure, but Peirce emphasized that not all projects containing NFTs are automatically exempt from regulation, and NFTs with securities attributes in structure will still be subject to regulatory constraints.
▌Fidelity Solana Fund is registered in Delaware, USA
According to market news, Fidelity Solana Fund (FIDELITY SOLANA FUND) is registered in Delaware, USA.
▌Meme coins will not disappear, but only a few Meme coins will continue to exist
Nick Tomaino, founder of 1confirmation, said in an article on X, "Meme coins are neither good nor bad, they just exist, and obviously will not disappear. Those who think we will enter an era full of "real value" tokens will be disappointed. The real value lies in the eyes of the observer. After more than 15 years, billions of people still believe that Bitcoin has no real value. But hundreds of millions of people believe in it, and its market value is 1.6 trillion US dollars. Most Meme coins will disappear, but a few Meme coins will continue to exist."
▌Swiss National Bank: Will not buy cryptocurrencies such as Bitcoin
Important Economic Dynamics
▌The three major U.S. stock indexes closed slightly higher
The three major U.S. stock indexes closed slightly higher, with the Dow up 0.07%, the Nasdaq up 0.52%, and the S&P 500 up 0.08%. Most of the popular technology stocks rose, with Tesla up more than 5%, and Apple and Meta up more than 1%.
▌Fed Williams: The Fed is not in a hurry to make the next monetary policy decision
Fed Williams said the median forecast for September seems reasonable. Risks to both inflation and employment targets have risen, and long-term inflation expectations remain stable. The Fed is in no hurry to make its next monetary policy decision. Trump's policy adjustments suggest that economic growth will slow and unemployment will rise.
Golden Encyclopedia
▌What is a cold wallet?
A cold wallet is a cryptocurrency storage method that is kept offline and disconnected from the internet. This setup makes it more difficult for hackers to access funds remotely. Examples include: hardware wallets (e.g. Ledger, Trezor), paper wallets, isolated computers (devices that have never been connected to the internet).
Disclaimer: As a blockchain information platform, Golden Finance publishes articles for information reference only and is not intended as actual investment advice. Please establish the correct investment philosophy and be sure to raise risk awareness.
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