比特币（BTC）交易平坦，而Coinbase Premium上升，这表明美国投资者正在购买DIP

虽然世界上最大的数字资产在会议的凌晨进行了交易，但Coindesk Market数据表明，这一周增长了4％。

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BTC

BTC

Bitcoin

比特币

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.

自今年年初以来的集会超过90％后，周五的凌晨，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.

全球最大的数字资产的交易价格为50,197美元，一周增长了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驱动风险的情绪并对​​BTC价格产生积极影响的原因，日本的预期银行降低的税率并没有太大的发展来推动市场。

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，要观看的一个指标是“ Coinbase Premium”。它在CryptoQuant跟踪中，衡量了Coinbase Pro（USD）和Binance（USDT）上BTC之间的价格差异，这表明了对比特币的美元需求（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正在逐渐上升，表明美国投资者的购买压力正在支持趋势。此外，我们可以观察到正在逐步检测到鲸鱼购买活动，” CryptoQuant Analysts在最近的更新中解释说。

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

根据Sosovalue数据，该运动的一部分将包括BTC ETF流入量，本周迄今已达到3.8627亿美元。

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.

话虽这么说，一些市场观察家担心，可能比以往任何时候都更接近的固定以太交易所交易基金（ETF）可能会引起机构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的首席经济学家Youwe Yang表示，使投资者从State King中获得ETH收益率的ETF将是BTC ETF无法匹配的，因为他们只是会受到价格赞赏。

“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，这仍然是一个等待的游戏。至少直到Boj的举动是正式的，就像Arthur Hayes这样的普通加密本地人所依靠BTC抛物线寄生虫。

DEX Volume Has Nearly Doubled in Past Year

DEX卷在过去一年中几乎翻了一番

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.

自从2018年概念开始随着现代自动化市场制造商（AMM）发动机的出现（产品类别的中心技术）的出现以来，集中式交流（CEXS）一直关注分散的交易所（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.

但是随着年份的继续，考虑到去年平台上的数量巨大的增加，加密货币和收购的加剧也可能会引起人们对DEX的新兴趣。

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.

根据Messari的数据，去年，DEX的交易量从所有量的6％跃升至12％。在5月，这个数字接近25％，随着新兴的Dex超流动性吸引了市场的注意，包括加密货币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的竞争对手是吗？不，OKX总裁Hong Fang说。

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

Fang在今年早些时候与Coindesk进行了与Coindesk的交谈时，Fang说，两者是互补的。

"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：“加密本地的受众将希望能够使用CEX来可靠性，并希望获得创新的DEX。这种供需的动态将推动DEX的进一步采用以实现创新，同时支持加密监管框架的逐步成熟。”

News Roundup

新闻综述

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

特朗普的CFTC提名人布莱恩·昆滕兹（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.

特朗普总统担任商品期货贸易委员会主席（CFTC）的提名人布莱恩·昆滕兹（Brian Quintenz）强调了国会在周四的参议院确认听证会上，为加密货币设定明确的界限，以确定加密货币的明确界限。

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先前报道的那样，前CFTC专员兼后来的风险投资公司A16Z政策负责人Quintenz断言，即将到来的国会市场结构立法将为企业家提供必要的清晰度，同时仍在确保消费者保障措施。

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，参议员对CFTC的空缺（尤其是民主党专员的缺席）表示担忧，但昆滕兹拒绝敦促特朗普填补这些职位，并在此类问题上强调了总统酌处权。他还承认，如果CFTC成为数字商品的主要监管机构，则潜在的资源需求，提出了提高机构效率的“技术优先方法”。

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为预测市场作为对冲和风险管理的合法工具的作用，这是两党参议员旨在使这些市场合法化的两党参议员的观点。

Aave is Now on Sony's Soneium

Aave现在正在索尼的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层区块链Soneium上推出。这