Stablecoin issuer Circle's stock price plummeted 20% after the U.S. Clarity Act draft proposed restricting stablecoins' "passive yield generation." The market is concerned this will impact the revenue models of Circle and its partner Coinbase. Despite facing competitive pressures and regulatory challenges, Wall Street analysts generally believe this stock price decline is an overreaction, and the long-term outlook remains positive.

DeFi protocol Resolv suffered an attack on March 22, with hackers minting 80 million USR stablecoins at low cost and cashing out approximately $25 million, causing USR to lose its peg and triggering market volatility. The attack stemmed from a lack of security measures on the protocol's privileged accounts, impacting overall liquidity and affecting the lending market. Resolv subsequently suspended the protocol and emphasized that collateral pools remained unharmed, though experts believe the hidden losses from the incident are significant.

Recent volatility in the US Treasury market has drawn attention, with the MOVE index rising 28% on March 20, reaching 108.84. The volatility is mainly driven by geopolitical tensions, rising crude oil prices, and changing inflation expectations. Markets are concerned that the Federal Reserve may tighten policy, leading to increased selling pressure on US Treasuries. Analysts recommend reducing risk exposure, while others believe liquidity rescue measures could stimulate assets like Bitcoin. Markets remain cautious about policy direction.

PiRC-101 is a governance proposal for Pi Network aimed at maintaining the purchasing power of Pi tokens through an internal valuation mechanism and managing token dilution issues. The proposal has sparked controversy as the valuation benchmark is considered high and lacks transparency. Supporters believe it can promote trust and utility, while critics worry about its feasibility and impact on decentralization principles. The proposal is currently under review and has not yet affected network operations.

Tencent will commercialize its AI assistant OpenClaw, with stock price rebounding. Analysts believe this move will help Tencent compete in the AI market, particularly demonstrating its traffic advantages compared to Alibaba. However, regulators remain vigilant about OpenClaw's security risks.

Bitcoin's price forecasts have garnered industry attention, with Chief Investment Officer Matt Hougan pointing out that if Bitcoin can capture approximately 40 trillion dollars of the global store of value market, the price could potentially reach 1 million dollars. While analysts generally support this line of reasoning, there are differences of opinion regarding the timeline for achieving this target. Many experts believe this is a long-term outlook that requires sustained institutional investment and macroeconomic environment support.

LAUNCHCOIN已完成升级至BELIEVE代币，LAUNCHCOIN价格归零，85%的持有者已转移。其流动性用于BELIEVE的回购和流动性池，未升级持有者可在两周内通过官网领取BELIEVE。

Launch Coin on Believe（LAUNCHCOIN）是基于 Solana 的 SocialFi 平台原生代币，让创作者能在 X（Twitter）上一键发行社群驱动的代币。透过标注 @launchcoin，任何人都能将创意即时转化为可交易资产，实现代币创作的全面民主化。

链上流动性迎来复苏，以 PUMP 为首的 Solana Launchpad 平台陆续推出新功能与叙事。本文将探讨 Pump.fun、BONK.fun 和 Believe 等平台的最新动态、竞争策略与未来展望。 （前情提要：Pump.fun 与 Letsbonk.fun 的迷因币发射大战，谁能笑到最后？ ） （背景补充：Solana创办人Toly：Pump.fun能升级成「全球顶级直播平台」！创作者资本市场能更进一步？ ） 在经历了最黑暗的时刻后，链上流动性近期迎来复苏迹象。多家头部的 Solana Launchpad 陆续推出新产品与功能，并透过新的叙事来拓展增长空间，再度吸引市场关注，也拉开