# Сопутствующие статьи по теме DeFi

Новостной центр HTX предлагает последние статьи и углубленный анализ по "DeFi", охватывающие рыночные тренды, новости проектов, развитие технологий и политику регулирования в криптоиндустрии.

BNB Chain outpaces rivals in stablecoin activity – Why is capital moving here?

Stablecoins are becoming the primary liquidity rails in crypto, with Ethereum and TRON holding the largest supplies. However, BNB Chain has emerged as a dominant transactional hub, processing nearly 40% of global stablecoin transfers despite holding only about 5% of the total supply. This high transaction velocity is driven by structural advantages such as very low fees ($0.02 per transfer), fast block times, and strong network capacity. BNB Chain also hosts about 25% of active stablecoin wallets, reflecting strong user engagement. These factors position it as a high-throughput settlement layer, attracting capital as blockchains compete for stablecoin activity and dominance.

ambcrypto03/07 01:02

BNB Chain outpaces rivals in stablecoin activity – Why is capital moving here?

ambcrypto03/07 01:02

DeFi Technologies gets Nasdaq warning after shares fall below $1

DeFi Technologies Inc. has received a Nasdaq deficiency notice because its share price remained below the $1 minimum requirement for 30 consecutive business days. The notice, received on March 6, does not immediately affect the listing or trading of its shares. The company has a 180-day grace period, until September 1, 2026, to regain compliance. To do so, its share price must close at or above $1 for at least 10 consecutive business days. If it fails, it may qualify for an additional 180-day extension. The stock has fallen sharply from over $2.50 last year to approximately $0.67 recently. The company may consider options like a reverse stock split to meet the requirement.

ambcrypto03/06 23:35

DeFi Technologies gets Nasdaq warning after shares fall below $1

ambcrypto03/06 23:35

Helios Finance Secures $1M in Funding to Unlock On-Chain Bitcoin Liquidity

Helios Finance has raised $1 million in a funding round from investors including Draper Associates, Draper Dragon, and 3Commas Capital. The company is building a Bitcoin-native lending protocol and credit card to unlock on-chain liquidity, allowing long-term Bitcoin holders to access spending power without selling their BTC and triggering tax events. Unlike wrapped-asset solutions, Helios maintains a "Bitcoin-first" experience on its MIDL execution layer. The goal is to transform Bitcoin into a productive, programmable asset. The funding will be used to scale infrastructure and accelerate the global rollout of its Bitcoin-backed credit card.

TheNewsCrypto03/06 17:51

Helios Finance Secures $1M in Funding to Unlock On-Chain Bitcoin Liquidity

TheNewsCrypto03/06 17:51

How to Make a Product Through Bull and Bear Markets: The Strategic Positioning Evolution of Meteora

Meteora is a leading Solana-based DEX that has demonstrated resilience through market cycles by focusing on capital efficiency and community building. Its core innovation is the Dynamic Liquidity Market Maker (DLMM), which segments liquidity into price bins for near-zero slippage and dynamically adjusts fees based on market volatility to protect LPs from impermanent loss. The protocol also features Dynamic AMM (DAMM) v1 and v2, which integrate lending yield opportunities and support Token2022 assets. Meteora’s community-driven “LP Army” initiative educates and incentivizes liquidity providers through boot camps, NFT rewards, and a MET points system tied to future airdrops. Additional features like auto-compounding, one-click rebalancing, and Stake2Earn—a mechanism that lets memecoin holders earn trading fees without LP exposure—enhance user retention and protocol-owned liquidity. Despite competition from protocols like DeFiTuna and HumidiFi, Meteora maintains robust TVL and trading volume by prioritizing real yield, adaptive product design, and deep community integration.

marsbit03/06 14:50

How to Make a Product Through Bull and Bear Markets: The Strategic Positioning Evolution of Meteora

marsbit03/06 14:50

Vitalik's Latest Reflection: Ethereum is Stuck in Path Dependency, It's Time to Start Anew from First Principles

Vitalik Buterin calls for the Ethereum community to break free from path dependency and rethink the ecosystem’s application layer from first principles. He emphasizes the importance of preserving core properties—censorship resistance, open source, privacy, and security (CROPS)—while encouraging more radical openness in how applications and external interfaces are designed. He suggests reevaluating technical assumptions, such as the future of browser plugins and mobile wallets in light of AI advancements, and proposes rebuilding the stack with privacy as a foundational priority. Examples include reimagining DeFi as generalized futures markets built on decentralized oracles, possibly verified via zk-SNARKs and LLMs, and reconsidering the role of L2s. Buterin also highlights cultural shifts, advocating for a break from conventional “professional” norms to unlock greater creativity. He urges developers to ignore existing ecosystem constraints, pretend current usage is zero, and imagine the most valuable applications as if starting from scratch today. In response to a comment, he clarifies that integration with traditional finance remains important for mainstream adoption, but the goal is to overcome internal path dependencies within Ethereum’s own application and wallet history—for instance, by exploring privacy-focused designs like Railgun or Aztec for payments without exposing addresses.

marsbit03/06 10:35

Vitalik's Latest Reflection: Ethereum is Stuck in Path Dependency, It's Time to Start Anew from First Principles

marsbit03/06 10:35

MEXC Logs Strong February as New Token Listings Deliver 1,367% Average Gains and Refund-Backed Launchpad Drives Participation

MEXC, a rapidly growing cryptocurrency exchange, reported strong performance in February 2026, driven by new token listings that delivered an average peak gain of 1,367%. AI and infrastructure tokens led the surge, with POWERAI, PSAI, TONIXAI, and ESP among the top performers. Other high-gainers included MEME, CreatorFi, DeFi, DePIN, and privacy computing tokens. The month also saw the introduction of MEXC’s Loss Protection mechanism on Launchpad, which refunds users if a token falls below its listing price. This feature attracted over 21,000 participants, with subscriptions exceeding 3.13 million USDT. Additional rewards through airdrop and spin events further boosted user engagement. MEXC remains focused on expanding its listings and enhancing user protections.

TheNewsCrypto03/06 10:24

MEXC Logs Strong February as New Token Listings Deliver 1,367% Average Gains and Refund-Backed Launchpad Drives Participation

TheNewsCrypto03/06 10:24

Valuation Collapse and Revenue Divergence: Reassessing the True Logic of Crypto Assets

Cryptocurrency valuations are collapsing as the industry matures, with infrastructure tokens losing their premium while revenue becomes concentrated in a few key sectors. Despite generating record fees ($74.8B since 2018, nearly half in 2024-2025), the market is gripped by fear, with projects shutting down and talent migrating to AI. Stablecoin issuers Tether and Circle now capture 34.3% of all crypto fees, benefiting from massive demand (hedging against inflation in emerging markets) and near-zero marginal costs. Their dominance stems from distribution advantages and Lindy effects, not technical superiority. Meanwhile, speculative trading products (Telegram bots, perpetual exchanges like Hyperliquid) grew rapidly, accounting for over 15% of fees by 2025. These leverage crypto’s mature infrastructure to offer high-risk, dopamine-driven financial services. In contrast, DeFi protocols and L1/L2 chains face valuation compression. Price-to-fee ratios for major chains (Solana, Arbitrum, Optimism) fell dramatically as novelty premiums faded. The market now values revenue-generating protocols rationally—often at or below traditional finance multiples (e.g., Aave at 4x P/S vs. Visa’s 15x). The key insight: Crypto’s must build real economic moats (first-mover advantage, liquidity, or distribution) and赋予代币实际权益 token holders with clear economic rights and governance power. The era of speculative narratives is over; sustainable value comes from capturing fees via high-frequency trading or trust-minimized transactions.

marsbit03/06 10:07

Valuation Collapse and Revenue Divergence: Reassessing the True Logic of Crypto Assets

marsbit03/06 10:07

Profit Soaring, Sentiment at Rock Bottom: The True Face of Crypto Amid $6 Billion Unlock

The crypto industry faces a paradox: record-high profitability amid extreme fear and negative sentiment. While protocols generated $74.8 billion in fees since 2018—nearly half in the last 18 months—many projects have shut down, and layoffs are widespread. Key shifts in revenue structure reveal that stablecoin issuers like Tether and Circle now dominate, capturing 34.3% of all fees due to high demand for dollar-backed assets and near-zero marginal costs. Meanwhile, trading-focused applications (e.g., Telegram bots and perpetual exchanges) have surged, accounting for over 15% of revenue by catering to speculative demand. In contrast, layer-1 and layer-2 blockchains and DeFi protocols have seen valuations collapse, with price-to-fee ratios dropping sharply. The median monthly revenue for protocols has fallen to $13,000, indicating intense competition. The industry’s moats include first-mover advantage (e.g., Tether), liquidity depth (e.g., Aave), and distribution prowess (e.g., meme platforms). Token valuations are now more rational—often below traditional finance multiples—but must evolve to offer real economic rights and governance utility. Crypto’s future lies in integrating with the broader internet infrastructure, focusing on high-frequency trading fees and verifiable transparency.

marsbit03/06 09:42

Profit Soaring, Sentiment at Rock Bottom: The True Face of Crypto Amid $6 Billion Unlock

marsbit03/06 09:42

Recent Mass Shutdowns of DeFi Protocols: They All Have One Thing in Common

In recent months, multiple DeFi protocols have announced shutdowns, not due to exit scams but because of a lack of users, funding, or both. Projects like Angle Protocol, Polynomial, MilkyWay, and Step Finance—despite having functional products and significant past traction—were unable to sustain operations. Common challenges included an inability to attract liquidity (especially critical in derivatives), failure to achieve product-market fit, and high costs of expanding to new chains or narratives. Many teams pivoted repeatedly to chase trends like restaking or real-world assets but ran out of capital before finding sustainable demand. Others, like ZeroLend, suffered from deploying on smaller blockchains that lost liquidity during market downturns. Despite these failures, the projects shut down responsibly, allowing users to withdraw funds and avoiding reckless token launches—a sign of industry maturation compared to the reckless exits of 2022.

marsbit03/06 09:31

Recent Mass Shutdowns of DeFi Protocols: They All Have One Thing in Common

marsbit03/06 09:31

After the Valuation Collapse: The Crypto Market Enters the 'Revenue Pricing' Era

The crypto market is shifting from speculative narratives to a focus on real revenue generation, entering an "earnings-based valuation" era. Despite industry-wide fear and declining sentiment, crypto-native protocols have generated $74.8 billion in fees since 2018, with nearly half ($31.4 billion) occurring between January 2024 and June 2025. However, valuations have collapsed as novelty premiums fade. Key trends include: - **Stablecoin dominance**: Tether and Circle now account for 34.3% of all fees, benefiting from global demand and near-zero marginal costs. - **Trading platforms surge**: Meme coin trading and perpetual exchanges (e.g., Hyperliquid, Jupiter) grew from 1% to over 15% of total revenue by 2025, driven by consumer demand for high-risk, high-reward products. - **Protocol decline**: Layer 1 and Layer 2 tokens (e.g., Solana, Arbitrum) saw price-to-fee ratios drop sharply as infrastructure matured and competition increased. The median monthly revenue per protocol fell to $13,000. - **Valuation rationalization**: The average price-to-sales ratio for crypto assets compressed from 40,400x in 2020 to 170x today, aligning with or below traditional financial infrastructure multiples (e.g., Visa at 15x P/S). Protocols like Aave (4x P/S) and Hyperliquid (7x P/S) now trade at reasonable valuations. The era of building pure infrastructure is over. Success requires business models with real revenue, clear moats (first-mover advantage, liquidity, or distribution), and tokens that offer actual economic rights and governance—not just speculative value.

比推03/06 09:10

After the Valuation Collapse: The Crypto Market Enters the 'Revenue Pricing' Era