儘管華爾街拋售後托里克斯（Tariff Shock）

2025年4月，美國貿易政策和全球政治變化驅動了重大的宏觀經濟衝擊，但加密貨幣市場表現出彈性。

April 2025 saw major macroeconomic shocks, but the crypto market showed surprising resilience. Despite a US tariff war that sparked a global stock market crash and wiped out over $8.5 trillion in market value, Bitcoin managed to post a 16% monthly gain.

2025年4月看到了重大的宏觀經濟衝擊，但加密貨幣市場表現出令人驚訝的彈性。儘管美國的關稅戰爭引發了全球股市崩潰，並消除了超過8.5萬億美元的市場價值，但比特幣還是每月收益16％。

The world's largest cryptocurrency decoupled from equities and rebounded strongly to trade at $94,729 by the end of April, marking a 16.16% monthly gain. However, traditional markets remain volatile, with the S&P 500 plunging 12% and the Dow Jones dropping 2,200 points.

到4月底，全球最大的加密貨幣與股票脫鉤，並以94,729美元的價格反彈，標誌著每月收益16.16％。但是，傳統市場仍然波動，標準普爾500指數下跌12％，道瓊斯瓊斯下跌2200點。

While crypto traders appear to have priced in the geopolitical risk, the strong recovery in BTC has reignited expectations of a breakout toward the $100,000 resistance.

儘管加密貨幣交易者似乎已經處於地緣政治風險的價格，但BTC的強勁復甦已經重新激發了對100,000美元阻力的突破的期望。

Furthermore, Ethereum's blockchain continues to lead in real-world asset (RWA) tokenization, capturing 60% of the total market share, an increase of 20% from the previous month.

此外，以太坊的區塊鏈繼續領先於現實世界中的資產（RWA）令牌化，捕獲了總市場份額的60％，比上個月增加了20％。

According to GrowThePie, the value of RWAs on Ethereum reached $6.2 billion in April, driven by growing institutional adoption. Firms like BlackRock and Franklin Templeton have rolled out tokenized bond and gold pilots, highlighting Ethereum's robust infrastructure.

根據GrowthEpie的說法，在機構採用的日益增長的推動下，RWAS對以太坊的價值在4月達到了62億美元。貝萊德（Blackrock）和富蘭克林·鄧普頓（Franklin Templeton）等公司已經推出了令牌債券和金牌飛行員，突顯了以太坊的強大基礎設施。

BlackRock CEO Larry Fink also reaffirmed this stance, stating that Ethereum is the "natural default" for tokenization, given its composability and ecosystem maturity.

貝萊德首席執行官拉里·芬克（Larry Fink）還重申了這一立場，並指出以太坊是令牌化的“自然默認”，鑑於其成熟度和生態系統成熟度。

In other news, Canada's Liberal Party, known for its crypto-skeptic stance, managed to win the majority of seats in the country's federal elections on April 28. However, the party fell short of securing a full majority, setting the stage for a minority government and potentially complicating the process of passing crypto legislation.

在其他新聞中，加拿大以其加密持懷疑態度的立場聞名的加拿大自由黨設法在4月28日贏得了該國聯邦選舉中的大多數席位。但是，該黨沒有獲得全部席位，為少數政府奠定了基礎，為少數政府奠定了基礎，並有可能使通過加密立法的過程變得複雜。

The Liberals, led by former central banker Mark Carney, secured 169 seats, just three less than the majority needed to form a government on their own. This outcome follows a close campaign that saw the Conservative Party, which is more supportive of crypto, perform poorly.

由前中央銀行家馬克·卡尼（Mark Carney）領導的自由黨獲得了169個席位，僅比自己組建政府所需的大多數人少三個。這一結果是在一場近距離運動之後，使保守黨更支持加密黨，表現不佳。

Despite opinion polls that had initially favored the Conservatives and their pro-crypto stance, the Liberals ultimately pulled ahead. The shift in momentum can be attributed to the Conservatives' close association with Trump-era rhetoric, which included suggestions that Canada should become the "51st US state."

儘管民意測驗最初偏向於保守派及其親克賴特托立場，但自由主義者最終還是提前了。勢頭的轉變可以歸因於保守黨與特朗普時代的言論的密切聯繫，其中包括加拿大應該成為“美國第51個州”的建議。

This association ultimately proved detrimental to the Conservatives, as voters grew weary of the divisive political discourse and expressed a desire for unity and stability.

隨著選民對分裂性的政治話語的厭倦，並表示對團結和穩定的渴望，該協會最終被證明對保守派有害。

Finally, two US states introduced new crypto-related bills in April 2025. In Texas, HB 5352 proposes a Blockchain Technology Pilot Program to evaluate state-level use cases in transparency, efficiency, and security.

最後，美國兩個州於2025年4月推出了新的與加密相關的賬單。在德克薩斯州，HB 5352提出了一個區塊鏈技術試點計劃，以評估國家級別用例，以透明，效率和安全性評估。

In Georgia, HR 905 urges K–12 education institutions to implement blockchain and cryptocurrency literacy programs.

在佐治亞州，HR 905敦促K – 12教育機構實施區塊鍊和加密貨幣掃盲計劃。

The stablecoin sector also saw strong gains, adding $4 billion in market capitalization.

Stablecoin行業也獲得了巨大的收益，增加了40億美元的市值。

Key factors driving stablecoin demand include:

推動穩定需求的關鍵因素包括：

The STABLE Act passed a key vote in the US House Financial Services Committee.

《穩定法》通過了美國眾議院金融服務委員會的重要投票。

The SEC dropped its inquiry into PayPal USD (PYUSD), signaling a softening of regulatory pressure.

SEC將其調查放到了PayPal USD（PYUSD）中，這表明調節壓力的軟化。

Japan continues to lead with a permissive framework for stablecoins and RWAs.

日本繼續以穩定的穩定框架和RWAS的寬鬆框架領先。

According to data from IntoTheBlock, investors are increasingly viewing stablecoins as safe-haven assets, especially amid macroeconomic and market volatility.

根據Intotheblock的數據，投資者越來越多地將Stablecoins視為安全資產，尤其是在宏觀經濟和市場波動中。