RWA活跃市值首破150亿美元，代币化资产加速重塑链上金融格局

DeFi Falls into "Yield Winter": Liquidity Stagnation, Leverage Contraction, Arbitrage Opportunities Vanish

Since September 2025, the DeFi market has entered a "rate winter," with mainstream stablecoin deposit APYs falling to historic lows, and supply-demand imbalances leading to excess liquidity. As lending demand declines, stablecoin borrowing rates have correspondingly fallen, and risk appetite in the crypto market has diminished, with investors shifting toward more stable assets. Some protocols like Sky are providing stable yields through real-world assets, but the overall trend still points toward DeFi adjustment and structural reform.

比特币在中东局势升级中保持稳定

比特币在$70K 保持韧性，尽管中东局势加剧，反映出投资者信心强劲，交易所持有资产处于六年低位。市场参与者在波动中表现稳定，展示了对地缘政治风险定价的能力。

VeChain星际门户质押平台在隼式分叉三个月后显示强劲增长

StarGate将VeChain的年度VTHO发行量减少50%，锁定VET在Hayabusa硬分叉后三个月达到107亿。 StarGate活跃质押者增加93.9%，委托质押激增至59亿VET。 VeChain的StarGate质押平台在Hayabusa硬分叉后三个月内取得了强劲增长

系統警告也沒用！「滑價 99%」仍執意換幣，巨鯨爆虧 5 千萬美元

近日，一位巨鯨用戶在 Aave 交易平台上試圖用 5,000 萬美元的 USDT 兌換 AAVE 代幣，因流動性嚴重不足，最終遭遇超過 99% 的滑價，僅換回約 327 枚代幣，損失達 5,000 萬美元。雖然系統已發出滑價警告，該用戶仍確認交易，造成巨大虧損。相關平台強調此次事件並非因漏洞或攻擊。

比特幣力守 7 萬美元！鏈上驚見「集體拋售潮」，散戶成最大賣壓來源

在中東地緣政治緊張的背景下，比特幣遭遇全面拋售，幾乎所有持幣者都轉向淨賣出，以散戶最為明顯。根據Glassnode數據，累積趨勢分數降至0.04，顯示市場賣壓沉重。小額持幣者及中型投資人拋售強度明顯，巨鯨大戶雖然減持，但力度較小。儘管數據慘淡，比特幣仍展現抗跌能力。

CEO của Tether: 550 triệu người sử dụng USDT

Paolo Ardoino, CEO of Tether, revealed that the largest sender of Tether (USDT) accounts for only 4.97% of total transaction volume, indicating a wide distribution among users. In contrast, a competing stablecoin has a larger concentration at 23.34%. Over 550 million people, mostly in emerging markets, use USDT for payments and transfers, highlighting its growing significance outside traditional banking.