BTC breaks through the $97000 mark

According to BlockBeats, on May 25th, according to StableWatch data, the circulation of yield stablecoins has increased from $2.74 billion to a maximum of $11 billion in the past year, currently at around $9.18 billion; Their share in the stablecoin market has jumped to 4.5%.

BlockBeats News: On May 25th, according to DefiLlama data, the total market value of stablecoins on the entire network is reported to be 246.365 billion US dollars, an increase of 1.02% in the past 7 days. Among them, the market share of USDT is almost the same as last week, at 62.25%.

The current price has fallen below the key support of 2499.5, where the peak of chip trading volume is concentrated and the long short ratio is close to 1, but effective support has not been formed. At the same time, the membership indicator shows that the price is below the EMA24/52 moving average, indicating a weak medium to long-term trend, which confirms the downward signal. The combination of the KDJ death fork and the Black Three Forces form further increases short-term selling pressure, and it may be difficult to hold the support of the 2483 front line. If it cannot quickly rebound above 2540, it may accelerate its descent. Activate membership to unlock precise chip distribution and seize key trading opportunities! The data is sourced from the PRO member's [ETH/USDT Binance 2-hour] K-line, for reference only, and does not constitute any investment advice.

According to Bloomberg, Kenneth Rogoff, former Chief Economist of the International Monetary Fund (IMF) and a member of the Federal Reserve Board, stated in an interview that geopolitical tensions and the growing influence of cryptocurrencies are weakening the global position of the US dollar. Kenneth Rogoff believes that critics who believe that cryptocurrencies are just scams and worthless are completely wrong. The view that there is no 'fundamental value proposition' in cryptocurrency trading is incorrect. One of the main markets for the US dollar is the global underground economy. In the past, the preferred payment method for such transactions was the US dollar, but now the preferred payment method is cryptocurrency. Cryptocurrency provides a recognized medium of exchange, which is a value proposition. Even with strict government regulation of cryptocurrencies, there will still be significant challenges in controlling the underground economy. Therefore, Kenneth Rogoff believes that 'cryptocurrencies have value'. The authorities will face significant difficulties in tracking cryptocurrency transactions in the gray market, which means that cryptocurrencies are not worthless.

BlockBeats News: On May 25th, Cathie Wood, CEO of ARK Invest, stated at the Solana Accelerate event held in New York on May 23rd that although cryptocurrency wallets will become more widely used in the future, cryptocurrency ETFs will still hold a place in the market for the long term as they provide users with a more convenient way to participate. She said, 'ETFs are an important transitional form.'. Compared to the complexity of wallet operations, many consumers just want to 'press a button' to complete their investment. Wood emphasized that wallets will be more like an "insurance mechanism," while ETFs are suitable for users who pursue convenience. Wood also mentioned that spot Ethereum ETFs do not support staking function, which has affected their market performance, and pointed out that Ethereum is still the preferred entry point for new users to understand the smart contract ecosystem, and may gradually shift to chains such as Solana in the future. She also pointed out that Trump's issuance of TRUMP memecoin on the Solana network may cause some institutional investors to hold a reserved attitude, and "such events may deter some older investors Wood stated that his team is currently studying Solana's pricing model and will announce it after the research is completed. Previously, ARK had raised its 2030 Bitcoin bull market price expectation from $1.5 million to $2.4 million. （Cointelegraph）