騎加密波：以太超級循環，Circle的可逆性辯論和Aster的Dex激增

解碼defi：機構感興趣的眼睛是一種以太超級循環，圈子考慮了交易可逆性，並且宇宙帶來了永久性交易量的激增。

Riding the Crypto Wave: Ether Supercycle, Circle's Reversibility Debate, and Aster's DEX Surge

騎加密波：以太超級循環，Circle的可逆性辯論和Aster的Dex激增

This week in DeFi, three key trends are shaping the landscape: the potential for an Ether supercycle driven by institutional adoption, Circle's controversial exploration of transaction reversibility, and the explosive growth of perpetual DEX trading led by Aster.

本週在Defi中，三個關鍵趨勢正在塑造景觀：由機構採用驅動的以太超級循環的潛力，Circle對交易可逆性的有爭議的探索以及由Aster領導的永久性DEX交易的爆炸性增長。

Ether Supercycle: Wall Street's Embrace or Just Hype?

Ether Supercycle：華爾街的擁抱還是炒作？

The buzz around an 'Ether supercycle' is gaining momentum, fueled by the prospect of Wall Street diving headfirst into blockchain. BitMine, a major ETH holder, believes Ethereum stands to benefit immensely from this influx of institutional capital, potentially breaking the traditional four-year crypto cycle. However, not everyone's convinced. Citigroup, for instance, has a year-end price target for Ether significantly below its all-time high, suggesting current prices might be driven by hype rather than underlying activity. The debate continues: is this a true supercycle, or just another wave of enthusiasm?

華爾街跳水首先進入區塊鏈的前景推動了“以太超級循環”周圍的嗡嗡聲。 Bitmine是一個主要的ETH持有人，他認為以太坊將從機構資本的湧入中受益匪淺，可能破壞了傳統的四年加密週期。但是，並不是每個人都相信。例如，花旗集團的以太幣的年終目標價格明顯低於其歷史最高水平，這表明當前價格可能是由炒作而不是基礎活動驅動的。辯論繼續：這是真正的超級循環，還是只是另一波熱情？

Circle's Reversibility Dilemma: Balancing Security and Decentralization

Circle的可逆性困境：平衡安全性和權力下放

Circle, a leading stablecoin issuer, is sparking debate with its exploration of 'reversible' USDC transactions. The aim? To recover funds lost to fraud and hacks. While this could protect users and boost mainstream trust, it clashes with the core crypto ethos of immutable, decentralized transactions. Circle's president, Heath Tarbert, acknowledges the 'inherent tension' between immediate transfers and the possibility of revocation. Can Circle find a balance between security and the fundamental principles of crypto? It's a tightrope walk, to be sure.

領先的Stablecoin發行人Circle正在通過探索“可逆” USDC交易引發辯論。目的？收回損失的欺詐和黑客資金。儘管這可以保護用戶並提高主流信任，但它與不可變，分散交易的核心加密精神發生了衝突。 Circle的總統希思·塔伯特（Heath Tarbert）承認立即轉移與撤銷可能性之間的“固有緊張”。 Circle可以在安全性與加密基本原理之間找到平衡嗎？可以肯定的是，這是一條繩索步行。

Aster's Surge: DeFi Derivatives Hit New Heights

Aster的激增：Defi衍生物達到了新的高度

Decentralized exchanges (DEXs) are seeing unprecedented activity in perpetual trading, with volumes hitting a record $70 billion. Leading the charge is Aster, a new derivatives platform on the BNB Chain, accounting for over 50% of total perp DEX activity. This surge highlights the growing momentum in DeFi derivatives markets, offering traders new avenues for speculation and hedging. Aster's rapid ascent demonstrates the dynamic nature of the DeFi space and the appetite for innovative trading platforms.

去中心化交易所（DEX）在永久交易中看到了前所未有的活動，其中量達到了創紀錄的700億美元。領先的指控是BNB鏈上的一個新的衍生品平台Aster，佔PERP DEX活性的50％以上。這種激增強調了Defi衍生品市場的增長，為交易者提供了新的猜測和對沖途徑。 Aster的快速上升表明了Defi空間的動態性質和對創新交易平台的胃口。

Final Thoughts: Navigating the Evolving DeFi Landscape

最終想法：導航不斷發展的Defi景觀

From the tantalizing prospect of an Ether supercycle to the philosophical conundrum of transaction reversibility and the explosive growth of DeFi derivatives, this week's developments highlight the ever-evolving nature of the decentralized finance world. Whether you're a seasoned crypto veteran or just dipping your toes in the water, it's clear that DeFi is a space to watch. Buckle up, because it's gonna be a wild ride!

從以太超級循環的誘人前景到交易可逆性的哲學難題和Defi衍生品的爆炸性增長，本週的發展凸顯了分散金融世界的不斷發展的本質。無論您是經驗豐富的加密貨幣老兵還是只是將腳趾浸入水中，很明顯，Defi都是值得關注的空間。係好，因為這將是一個瘋狂的旅程！