> Investors need to follow how ETH can derive real value from these assets.

Written by: Michael Nadeau, The DeFi Report
Compiled by: Deng Tong, Golden Finance

In January 2023, the trading price of SOL was discounted by 97% compared to ETH.

By July of last year, this discount had narrowed to 83%.

Now, nearly a year has passed. As the market questions Ethereum's scalability roadmap and assesses Solana's potential to "bring Nasdaq on-chain," this gap continues to narrow.

In past analyses, we mainly followed high-level factors such as fees, decentralized exchange trading volume, stablecoin supply and trading volume, and total locked value (TVL).

Blockchain analytics firm Elliptic has exposed Colorado-based Xinbi Guarantee as a major marketplace for cybercrime, facilitating $8.4 billion in illicit crypto transactions since 2022

Author: Haotian
The recent surge in Ethereum $ETH has led many to question whether it is related to the recent Pectra upgrade. The answer may not be.
The Pectra upgrade is more like the "finishing touches" of the Cancun upgrade, mainly involving some underlying optimizations and refinements of details, rather than groundbreaking technological innovations.
From a technical perspective, the four EIPs included in the Pectra upgrade all point in the same direction: to make Ethereum run more stably and efficiently. The state expiration standardization of EIP-7044, the fuel limit redefinition of EIP-7524, the transaction pipeline optimization of EIP-7697, and the difficulty adjustment improvements of EIP-6789—these are all typical "patchwork" upgrades that address some marginal issues left after the Cancun upgrade.
The logic that truly determines the price movement of Ethereum this time is actually the "value" that has been overly subjected to FUD.

XRP has surged, overtaking USDT as the third largest cryptocurrency, with a market cap of $154 billion - half of Ethereum's valuation.

Author: David Feliba, CoinTelegraph; Translated by: Bai Shui, Golden Finance
Although the Trump administration laid the groundwork for regulating the cryptocurrency industry in the United States (with the expectation that the White House's new crypto czar will set the direction in the coming months), these digital assets have already been thriving in emerging markets.
Stablecoins are pegged to fiat currencies and are becoming an important financial tool in many developing countries, facilitating remittances and cross-border trade, bridging the gap in financial inclusion, and providing inflation hedging in countries where traditional banking services are often insufficient and millions of people have little to no access to financial services.
Stablecoins (primarily pegged to the US dollar) have seen explosive growth in recent years, with their actual use cases rapidly expanding to Africa, Latin America, and some developing countries in Asia. While the United States is still exploring how to apply this technology beyond the cryptocurrency realm, emerging markets have already demonstrated the significance of stablecoins.
In these places

> We are on the brink of significant changes in currency, domestic politics, and international order, and everything depends on whether these matters are handled in a smart and cooperative manner.

Written by: Ray Dalio
Compiled by: Block unicorn

Preface

The first phase of the China-US trade deal has been rapidly reached and completed in a very reasonable manner (the optimism for future negotiations is justified). Donald Trump and his team are currently on a trip to the Middle East in Saudi Arabia to secure investment deals (I believe they will succeed, and it seems other reasonable trade deals will follow). Soon, he and his team will attempt to reach a good budget agreement with Congress (I am not very optimistic about this). Meanwhile, the Iran deal and the Russia-Ukraine deal are in the works, and I believe these agreements will make some progress.

In my opinion

Original title: DeFi Savings Protocol Sky Slumps to $ 5 M Loss as USDS Interest Payments Wipe Out Profit
Original authors: Tim Craig & Sheldon Reback, CoinDesk authors
Original text compiled by: Rhythm Little deep
Editor’s note: The DeFi savings protocol Sky (formerly MakerDAO) reported a loss of 5 million USD in the first quarter of 2025, contrasting sharply with a profit of 31 million USD in the previous quarter. The loss was mainly due to incentives to use the new stablecoin USDS instead of DAI, leading to a 102% surge in interest payments. Although USDS is designed to attract seasoned investors, its user base is growing.