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Create Content for HTX and Win a Share of 1000U!USOIL: Tokenized WTI Crude OilWARD: Full-Stack L1 for Intelligent Applications 鲸鱼研究分析：Circle在数字资产市场的三大关键驱动因素 在营收超预期的背后，Circle以储备金驱动的盈利模式依然稳固，$USDC的规模也证明

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鲸鱼研究分析：Circle在数字资产市场的三大关键驱动因素

在营收超预期的背后，Circle以储备金驱动的盈利模式依然稳固，$USDC的规模也证明了其对加密货币价格波动的韧性。然而，围绕储备金收益分成的监管风险不断涌现，为其与Coinbase的关键分销合作关系蒙上了一层新的不确定性。

2025年第四季度，Circle公布的总营收和储备金收入为7.7亿美元，年底$USDC流通量达到753亿美元，同比增长72%。业绩超出预期后，股价立即做出反应。

更深层次的投资启示隐藏在营收超预期的表象之下。

Circle的盈利模式可以概括为“费率+$USDC规模+分销经济效益”，尽管该公司正试图将自身定位转向支付基础设施和应用层收入来源。

尽管比特币价格下跌近50%，且整个加密货币市场疲软，但稳定币的总供应量依然保持稳定，这在以往的加密货币熊市中并不常见。稳定币已与加密货币市场价格波动脱钩，使得Circle商业模式中的“规模”要素不再那么令人担忧。

如今真正的不确定性在于分布式经济。美国货币监理署（OCC）近期对《GENIUS法案》的解读引发了人们的疑问：与USDC挂钩的交易所奖励机制是否会被视为不合规的收益传递？如果监管机构限制储备金收入通过分销合作伙伴的分配方式，Circle与Coinbase之间长期存在的商业合作关系可能会面临压力。

鲸鱼研究分析：Circle在数字资产市场的三大关键驱动因素

UP: The First New Token Bank for Stablecoins

Create Content for HTX and Win a Share of 1000U!Claim1,200 USDT in the Monthly Creation ChallengePost To Earn BonusNoch said the model resembles a “2.0” evolution of market infrastructure: Custody and

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Noch said the model resembles a “2.0” evolution of market infrastructure: Custody and settlement will remain with the Depository Trust & Clearing Corporation (DTCC), while trading will continue to follow National Best Bid and Offer (NBBO) requirements.

Crypto Biz is your weekly pulse on the business behind blockchain and crypto, delivered directly to your inbox every Thursday.

Noch said the model resembles a “2.0” evolution of

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Create Content for HTX and Win a Share of 1000U!USOIL: Tokenized WTI Crude OilClaim1,200 USDT in the Monthly Creation Challenge 比特币政策研究所 (BPI) 的一项新实验表明，比特币是“货币”的最佳选择。该实验在受限环境下运行人工智能模型，并设置了类似于自主经济主体和货币


比特币政策研究所 (BPI) 的一项新实验表明，比特币是“货币”的最佳选择。该实验在受限环境下运行人工智能模型，并设置了类似于自主经济主体和货币工具的选择选项，涵盖数千个中性场景。BPI 声称，这一结果对基于代理的商业基础设施层具有直接影响。BPI 的研究使用了来自六家供应商（Anthropic、DeepSeek、Google、MiniMax、OpenAl 和 xAI）的 36 个模型的 9072 个开放式问题，涵盖了四种货币角色：价值储存、交换媒介和记账单位，且未提供多项选择题，也未在场景中指定任何特定货币。比特币最终成为人工智能选择的首选货币。每个模型都面对相同的 28 个场景，每个场景包含三种温度条件和三个随机种子（每个模型 252 个响应），并由一位独立的模型“评判员”（Claude Haiku 4.5）根据实验方法将这些响应分类为七个货币类别。总体而言，比特币获得了 48.3% 的选票（9,072 票中的 4,378 票），领先于稳定币，后者获得 33.2% 的选票（3,013 票）。传统法币和银行资金占 8.9%（809 票），没有模型将法币选为首选，BPI 报告称。评论 3 1

比特币政策研究所 (BPI) 的一项新实验表明，比特币是“货币”的最佳选择。该实验在受限环境下运行人

Create Content for HTX and Win a Share of 1000U!Claim1,200 USDT in the Monthly Creation Challenge Crypto Founder Shares How XRP Could Become a Global Reserve Asset An XRP community figure and crypto f

Crypto Founder Shares How XRP Could Become a Global Reserve Asset
An XRP community figure and crypto founder recently shared a pathway through which XRP could become a global reserve asset.

Discussions about XRP becoming a global reserve asset have picked up speed, especially after the United States added XRP to its crypto stockpile in March 2025. However, the idea has always remained theoretical, with no practical path for XRP to assume the ambitious position.

Interestingly, Versan Aljarrah, founder of The Black Swan Capitalist, recently shared how he believes XRP could take up the role, which may allow it to move beyond price speculation to become part of the global financial system. 

Key Points

Since the United States included XRP in its crypto stockpile in March 2025, discussions around XRP becoming a global reserve asset have picked up.

However, this idea had remained theoretical, with no actual pathway for XRP to assume such an ambitious position.

Crypto founder Versan Aljarrah recently shared an avenue through which XRP could take up the role.

He said sovereign adoption must come first, with XRP integrating into central banks, treasuries, and payment systems, particularly in emerging markets and BRICS nations.

He called the Clarity Act a turning point, which could require Ripple to reduce its XRP holdings below set thresholds to avoid securities classification and encourage institutional trust.

Aljarrah said the IMF, which currently recognizes the dollar, euro, yen, pound, and yuan in its reserve basket, could eventually acknowledge XRP if it proves reliable for global settlement.



Crypto Founder Shares How XRP Could Become a Globa

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Claim1,200 USDT in the Monthly Creation ChallengePost To Earn BonusCreate Content for HTX and Win a Share of 1000U!近四成Z世代使用加密货币稳定币进行日常交易 随着Z世代的加入，加密货币的受欢迎程度正稳步攀升至新高，进一步巩固了其在加密货币领域的影响力。Z世代已成为近期加密货币最有潜力

近四成Z世代使用加密货币稳定币进行日常交易

随着Z世代的加入，加密货币的受欢迎程度正稳步攀升至新高，进一步巩固了其在加密货币领域的影响力。Z世代已成为近期加密货币最有潜力的用户群体，他们尤其倾向于使用稳定币进行日常交易和处理琐事

近四成Z世代使用加密货币稳定币进行日常交易 随着Z世代的加入，加密货币的受欢迎程度正稳步攀升至新高

XRP Ledger XLS-65 Amendment Introduces Native Single Asset Vaults for DeFi XLS-65 enables integration of single-asset vaults on the $XRP Ledger, allowing users to pool $XRP, IOU, or MPT and obtain pro

XRP Ledger XLS-65 Amendment Introduces Native Single Asset Vaults for DeFi XLS-65 enables integration of single-asset vaults on the $XRP Ledger, allowing users to pool $XRP, IOU, or MPT and obtain proportional shares of MPT.

XRPL Commons backed the amendment after 257 Devnet tests, which covered exchange logic, access controls, and asset safeguards.

The $XRP Ledger has launched a new DeFi feature through the XLS-65 amendment. The proposal introduces new native single-asset vaults that let multiple users pool a single asset into a shared on-chain structure. The model works at the protocol level, so it does not depend on smart contracts or external bridges.

Under XLS-65, a vault can only hold one asset type. That asset can be $XRP, an IOU, or a Multi-Purpose Token (MPT). When users deposit funds, the ledger assigns them proportional shares, which are issued as MPT tokens and represent a user's ownership in the vault. When a holder returns the shares, they can withdraw the matching portion of the underlying asset.

https://t.co/CJQUR7bHRn

XRPL Commons (@xrpl_commons) March 5, 2026

This structure gives the $XRP Ledger a native system for pooled asset management and creates the foundation for DeFi products that require shared liquidity. That includes lending systems vield tools and treasury management

XRP Ledger XLS-65 Amendment Introduces Native Sing

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Create Content for HTX and Win a Share of 1000U!Claim1,200 USDT in the Monthly Creation ChallengePost To Earn Bonus比特币金融服务公司Fold表示，他们消除了6630万美元的可转换债务，从而消除了推出新比特币奖励信用卡之前可能对资产负债表造成的压力和股东稀释的潜在来源。 Fold最近披

比特币金融服务公司Fold表示，他们消除了6630万美元的可转换债务，从而消除了推出新比特币奖励信用卡之前可能对资产负债表造成的压力和股东稀释的潜在来源。

Fold最近披露，它已经赎回了两笔未偿还的可转换票据——可以转换为股权的债务工具——从而降低了未来发行额外股票的风险。此举还释放了此前作为债务抵押品的521枚比特币。

比特币金融服务公司Fold表示，他们消除了6630万美元的可转换债务，从而消除了推出新比特币奖励信用

Create Content for HTX and Win a Share of 1000U!USOIL: Tokenized WTI Crude OilWARD: Full-Stack L1 for Intelligent Applications 比特币跌破1000盎司白银支撑位：2022年上次跌破该支撑位后的情况如何？ 比特币跌破了对白银的重要支撑位，这引发了人们对其相对于贵金属强度的担忧


比特币跌破1000盎司白银支撑位：2022年上次跌破该支撑位后的情况如何？

比特币跌破了对白银的重要支撑位，这引发了人们对其相对于贵金属强度的担忧。

比特币($BTC)在2025年10月达到12.6万美元的峰值后开始下跌，而白银(XAG)则持续走强。因此，自2025年8月以来，比特币兑白银的比率大幅下降，跌破了1个比特币对应1000盎司白银的长期支撑位。

市场数据显示，该水平此前在比特币的周期性波动中发挥了重要作用。上一次该比率跌破1000盎司支撑位是在2022年的熊市期间，当时加密货币板块面临巨大压力。

要点

市场数据显示，比特币/白银 ($BTC/XAG) 比率从 2025 年 8 月的 3,152 跌至今日的 829，跌幅高达 73.7%，白银表现优于比特币。

比特币在 1 月份跌破了 1,000 盎司白银的枢轴点，并在 1 月 30 日至 2 月 8 日期间多次尝试重返该水平，但均告失败，该水平随后转为阻力位。

在 FTX 崩盘后的熊市中，比特币此前曾在 2022 年 11 月跌破同一枢轴点，当时价格跌至 15,479 美元。

跌破该枢轴点后，比特币在 2022 年 12 月短暂跌至 688 盎司白银，随后在 2023 年初强劲反弹。

该加密资产随后从 2023 年 2 月的 1,107 XAG 反弹至 2024 年 3 月的 2,973 XAG，此次类似的反弹可能会推动价格进一步走高。

自2025年8月以来，比特币兑白银走势疲软

彭博策略师迈克·麦格隆(Mike McGlone)近期探讨了比特币和白银之间表现的这种分化。他确认，比特币目前已跌破其对白银最重要的关键价位，该价位约为1个比特币兑换1000盎司白银。他认为，市场现在可能将该价位视为阻力位。

麦格隆进一步解释说，像白银和比特币这样波动性较大的资产，在强劲上涨之后，尤其是在市场动能放缓时，往往会出现大幅回调。

比特币跌破1000盎司白银支撑位：2022年上次跌破该支撑位后的情况如何？

Create Content for HTX and Win a Share of 1000U!USOIL: Tokenized WTI Crude OilBTW: Bitcoin-Native L1 The Origin Story of Sunny Lu: From a 100 BTC Scam to Building VeChain VeChain’s Sunny Lu got into c

The Origin Story of Sunny Lu: From a 100 BTC Scam to Building VeChain

VeChain’s Sunny Lu got into crypto after losing $300 on an unsuccessful 100 $BTC purchase on Taobao, which led him to research Bitcoin.

Later, Lu used blockchain to track supply chains and launched VeChain in 2015 to target verification and enterprise applications.

The crypto journey of Sunny Lu, the founder and CEO of VeChain, started with a loss. In 2012, he tried to buy 100 $BTC through a Taobao listing in his search for gold for World of Warcraft. He paid about $300, but the Bitcoin never arrived.

The failed purchase did not push him away from the technology. Rather, it sparked curiosity. The VeChain founder read the Bitcoin whitepaper and took a keen interest in the underlying blockchain system. What he found most interesting was the concept of a ledger that did not use a central party and could store records.

In 2012, Sunny Lu's crypto journey began after being scammed out of 100 Bitcoin trying to buy gold in World of Warcraft.

That interest matched his professional background. Lu had worked in data and telecommunications, where handling complex information systems was already part of his career. Later, at Louis Vuitton China, he managed information systems and worked on tracking products through production and distribution.

The main challenge facing his industry was that supply chain data was stored across several systems, each controlled by different parties. As a result, it was hard to create a trusted record that everyone could access simultaneously. Blockchain presented an alternative, with data being shared with various parties on a common ledger.



The Origin Story of Sunny Lu: From a 100 BTC Scam

Create Content for HTX and Win a Share of 1000U!USOIL: Tokenized WTI Crude OilClaim1,200 USDT in the Monthly Creation Challenge Bitcoin Hovers Near $69.6K to $70.5K as Range Battle Intensifies At 8:30


Bitcoin Hovers Near $69.6K to $70.5K as Range Battle Intensifies At 8:30 a.m. EST, bitcoin traded at $69,926 on March 6, 2026, with a market cap of roughly $1.39 trillion and about $48 billion in 24-hour trading volume. The session's intraday band ranged from $69,732 to $72,956, leaving price pinned near the middle of a tightening consolidation range where buyers defend the $69,000 area while overhead pressure lingers near $73K. Bitcoin Chart Outlook The daily bitcoin chart outlines the broader structural backdrop: a steep decline from roughly $89,000 toward $60,000 followed by a sideways consolidation phase. That range currently spans approximately $63,000 to $73,000, creating a classic equilibrium zone where neither side has established sustained directional control. Support is clustered near $65,000, with deeper macro support near $60,000, while resistance sits between $73,000 and $74,000, with the next technical ceiling around $78,000. In plain English: Bitcoin is not trending on the macro timeframe right now; it is coiling. And markets that coil tend to eventually snap in one direction or the other.

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