Bitcoin circulation approaches the milestone of "20 million coins"! It will take another 114 years to mine the last 1 million coins.

Ripple accelerates Asia-Pacific expansion with Australian license application, XRP retail demand heats up, ETF capital structure draws attention

Ripple plans to apply for a financial services license in Australia through the acquisition of BC Payments to expand its cross-border payment business. Fiona Murray stated that the Australian market is important, and obtaining the license will enhance business capabilities. Ripple already holds 75 licenses worldwide and predicts that the Asia-Pacific payment transaction volume will double. Meanwhile, retail investors dominate the demand in the XRP market, ETF asset management scale remains stable, and institutional investors participate less, forming a "dual-track development" pattern between institutions and retail investors.

Circle has issued over 8 billion USDC since early February.

Gate News reports that on March 11, according to Arkham monitoring, Circle has issued a net increase of over 8 billion USDC since early February and has added them to the circulating supply. This means that Circle has injected over 8 billion USDC stablecoins into the market in the past month.

Ethereum funding rate turns negative! ETF outflows, staking yields are lower than stablecoins

Ethereum perpetual contract funding rates turn negative, indicating increased demand for shorts and a clear market bearish sentiment. Institutional demand remains weak, partly due to relatively low staking yields and a lack of sustained capital inflows. On-chain data and technical developments have failed to boost confidence, but Ethereum's DeFi ecosystem still maintains a strong moat. It is necessary to observe a rebound in funding rates and improvements in transaction fee revenue to determine the future market trend.

Bhutan has transferred out another 175 Bitcoins! This year's cash-out has exceeded $42.5 million.

The Bhutanese government has recently transferred another 175 Bitcoins, worth approximately $11.85 million. Throughout the year, about $42.5 million has been transferred out. The total holdings remain at 5,400 Bitcoins, approximately $374 million. Compared to the large-scale transfers last year, this move is smaller, indicating that sovereign funds are adopting a more cautious selling strategy after the Bitcoin price decline.

Ethereum network activity reaches a new all-time high, but ETH price has fallen 30% over 6 months, ranking third in fee revenue.

Ethereum network activity reaches a new all-time high, with multiple indicators showing a significant increase in daily active addresses and smart contract calls. However, ETH price has fallen about 30% over the past six months, indicating a net capital outflow. Analysis suggests that capital flows have a greater impact on price. Despite Ethereum hosting a large amount of stablecoins, its value capture has not kept pace with the growth in network usage.

Ethereum active addresses surpass 2 million, reaching a new all-time high, but ETH price remains under pressure; capital flow becomes a key variable.

Ethereum network activity reaches a record high, but ETH prices have not risen accordingly, and on-chain transaction fee revenue has not significantly increased. Transaction data shows that the correlation between on-chain activity and price has weakened, with new demand not translating into higher ETH valuation, leading to net capital outflows from the market. Stablecoins still dominate the Ethereum ecosystem, but overall economic activity is dispersed across layer 2 networks, indicating a separation between network usage and asset value capture.