比特幣（BTC）交易平坦，而Coinbase Premium上升，這表明美國投資者正在購買DIP

雖然世界上最大的數字資產在會議的凌晨進行了交易，但Coindesk Market數據表明，這一周增長了4％。

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BTC

BTC

Bitcoin

比特幣

is flat in the early hours of the session on Friday, remaining in a tight range after a rally of more than 90% since the start of the year.

自今年年初以來的集會超過90％後，週五的凌晨，在周五的凌晨保持平坦。

The world’s largest digital asset is trading at $50,197, and it’s up 4% on the week.

全球最大的數字資產的交易價格為50,197美元，一周增長了4％。

An expected Bank of Japan rate cut isn’t doing that much to move the market, even though a low interest rate policy is usually what drives risk-on sentiment and positively impacts BTC prices.

即使低利率政策通常是驅動風險的情緒並對​​BTC價格產生積極影響的原因，日本的預期銀行降低的稅率並沒有太大的發展來推動市場。

One metric to watch instead is the ‘Coinbase Premium’. Tracked by CryptoQuant, it measures the price difference between BTC on Coinbase Pro (USD) and Binance (USDT), demonstrating the dollar demand for bitcoin (as opposed to crypto-native demand).

相反，要觀看的一個指標是“ Coinbase Premium”。它在CryptoQuant跟踪中，衡量了Coinbase Pro（USD）和Binance（USDT）上BTC之間的價格差異，這表明了對比特幣的美元需求（而不是加密本地需求）。

“The Coinbase Premium is gradually rising, indicating that buying pressure from U.S. investors is supporting the trend. Additionally, we can observe that whale buying activity is being detected incrementally,” CryptoQuant analysts explained in a recent update.

“ Coinbase Premium正在逐漸上升，表明美國投資者的購買壓力正在支持趨勢。此外，我們可以觀察到正在逐步檢測到鯨魚購買活動，” CryptoQuant Analysts在最近的更新中解釋說。

Part of this movement would include BTC ETF inflow, which has hit $386.27 million so far this week, according to SoSoValue data.

根據Sosovalue數據，該運動的一部分將包括BTC ETF流入量，本週迄今已達到3.8627億美元。

That being said, some market observers are concerned that a staked ether exchange-traded fund (ETF), which may be closer than ever to getting approved, could put a damper on institutional BTC interest.

話雖這麼說，一些市場觀察家擔心，可能比以往任何時候都更接近的固定以太交易所交易基金（ETF）可能會引起機構BTC的利益。

Youwei Yang, chief economist at BIT Mining, says that an ETF that gives investors access to ETH yield from staking would be something that BTC ETFs can't match, as they just give exposure to price appreciation.

Bit Mining的首席經濟學家Youwe Yang表示，使投資者從State King中獲得ETH收益率的ETF將是BTC ETF無法匹配的，因為他們只是會受到價格讚賞。

“This has created a lot of buzz, especially considering how much of bitcoin's rally was fueled by ETF hype. And let's be honest: while there's speculation around Solana or Litecoin ETFs, Ether is still the only other crypto asset with a real existence in U.S. spot ETF. That makes it a go-to option for institutions waiting and watching on the sidelines, ready to move when the timing feels right,” Yang said.

“This has created a lot of buzz, especially considering how much of bitcoin's rally was fueled by ETF hype. And let's be honest: while there's speculation around Solana or Litecoin ETFs, Ether is still the only other crypto asset with a real existence in US spot ETF. That makes it a go-to option for institutions waiting and watching on the sidelines, ready to move when the timing feels right,” Yang said.

But for now, it's still a waiting game. At least until the BoJ's move is official, as the usual crypto-natives like Arthur Hayes are counting on BTC going parabolic as a result.

但是就目前而言，這仍然是一個等待的遊戲。至少直到Boj的舉動是正式的，就像Arthur Hayes這樣的普通加密本地人所依靠BTC拋物線寄生蟲。

DEX Volume Has Nearly Doubled in Past Year

DEX卷在過去一年中幾乎翻了一番

Centralized Exchanges (CEXs) have always had their eyes on Decentralized Exchanges (DEXs) since the concept took off in 2018 with the advent of modern Automated Market Maker (AMM) engines – the technology at the center of the product category.

自從2018年概念開始隨著現代自動化市場製造商（AMM）發動機的出現（產品類別的中心技術）的出現以來，集中式交流（CEXS）一直關注分散的交易所（DEX）。

But as the year continues, and crypto mergers and acquisitions heat up maybe there'll be a renewed interest in DEXs, considering the massive jump in volume on the platforms in the last year.

但是隨著年份的繼續，考慮到去年平台上的數量巨大的增加，加密貨幣和收購的加劇也可能會引起人們對DEX的新興趣。

According to data from Messari, in the last year, trading volume on DEXs has jumped from around 6% of all volume to 12%. In May, that number got closer to 25% as up-and-coming DEX Hyperliquid caught the eye of the market, including crypto's most aggressive traders.

根據Messari的數據，去年，DEX的交易量從所有量的6％躍升至12％。在5月，這個數字接近25％，隨著新興的Dex超流動性吸引了市場的注意，包括加密貨幣的最具侵略性的商人。

But are DEXs and CEX's competitors? No, says OKX President Hong Fang.

但是DEX和CEX的競爭對手是嗎？不，OKX總裁Hong Fang說。

Speaking with CoinDesk earlier this year in the run-up to Consensus Hong Kong, Fang said that the two are complementary.

Fang在今年早些時候與Coindesk進行了與Coindesk的交談時，Fang說，兩者是互補的。

"The crypto-native audience will want to be able to use CEX for reliability and DEX for catching innovations. Such supply-demand dynamics will drive further adoption of DEX to enable innovation while supporting the gradual maturity of the crypto regulatory framework," Fang said at the time.

Fang表示：“加密本地的受眾將希望能夠使用CEX來可靠性，並希望獲得創新的DEX。這種供需的動態將推動DEX的進一步採用以實現創新，同時支持加密監管框架的逐步成熟。”

News Roundup

新聞綜述

Trump’s CFTC Nominee Brian Quintenz Says Congress Key to Boosting Crypto Innovation and Consumer Protection

特朗普的CFTC提名人布萊恩·昆滕茲（Brian Quintenz

President Trump's nominee for chairman of the Commodity Futures Trading Commission (CFTC), Brian Quintenz, highlighted the importance of Congress in setting clear boundaries for crypto to simultaneously foster innovation and protect consumers during his Senate confirmation hearing on Thursday.

特朗普總統擔任商品期貨貿易委員會主席（CFTC）的提名人布萊恩·昆滕茲（Brian Quintenz）強調了國會在周四的參議院確認聽證會上，為加密貨幣設定明確的界限，以確定加密貨幣的明確界限。

As CoinDesk previously reported, Quintenz, the former CFTC commissioner and later head of policy at venture capital firm a16z, asserted that upcoming market structure legislation from Congress would provide the necessary clarity for entrepreneurs while still ensuring consumer safeguards.

正如Coindesk先前報導的那樣，前CFTC專員兼後來的風險投資公司A16Z政策負責人Quintenz斷言，即將到來的國會市場結構立法將為企業家提供必要的清晰度，同時仍在確保消費者保障措施。

However, senators expressed concerns regarding the vacancies at the CFTC—particularly the absence of Democratic commissioners—but Quintenz declined to commit to urging Trump to fill these positions, emphasizing presidential discretion in such matters. He also acknowledged the potential resource needs should the CFTC become the primary regulator for digital commodities, suggesting a "technology-first approach" to enhance the agency's efficiency.

但是，參議員對CFTC的空缺（尤其是民主黨專員的缺席）表示擔憂，但昆滕茲拒絕敦促特朗普填補這些職位，並在此類問題上強調了總統酌處權。他還承認，如果CFTC成為數字商品的主要監管機構，則潛在的資源需求，提出了提高機構效率的“技術優先方法”。

Moreover, Quintenz defended the role of prediction markets as legitimate tools for hedging and risk management, a perspective shared by a bipartisan group of senators aiming to legalize these markets.

此外，Quintenz為預測市場作為對沖和風險管理的合法工具的作用，這是兩黨參議員旨在使這些市場合法化的兩黨參議員的觀點。

Aave is Now on Sony's Soneium

Aave現在正在索尼的soneium上

Aave has launched on Soneium, an Ethereum Layer-2 blockchain supported by electronics giant Sony. This

AAVE已在Electronics Giant Sony支持的以太坊2層區塊鏈Soneium上推出。這