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VIPBitget VIP Weekly Research InsightsIn 2025, the stablecoin market shows strong signs of growth. Research indicates that the market cap of USD-pegged stablecoins has surged 46% year-over-year, with total trading volume reaching $27.6 trillion, surpassing the combined volume of Visa and Mastercard transactions in 2024. The average circulating supply is also up 28% from the previous year, reflecting sustained market demand. Once used primarily for crypto trading and DeFi collateral, stablecoins are now expanding into cross-border payments and real-world asset management, reinforcing their growing importance in the global financial system. More banks and enterprises are starting to issue their own stablecoins. Standard Chartered launched an HKD-backed stablecoin, and PayPal issued PYUSD. The CEO of Bank of America has expressed interest in launching a stablecoin once regulations permit (via CNBC). Fidelity is developing its own USD stablecoin, while JPMorgan Chase and Bank of America plan to follow suit when market conditions stabilize. Meanwhile, World Liberty Financial (backed by the Trump family) has introduced USD1, backed by assets such as government bonds and cash.
VIPBitget VIP Weekly Research InsightsIt's been nearly two months since the trend of celebrities and politicians launching memecoins began. During this period, liquidity in the Solana ecosystem almost dried up. Pump.fun, which once saw over 2000 successful launches landing on DEXs daily, hit a low of just slightly over 50 new projects per day, marking a drop of nearly 97%. During the two months, Pump.fun also rolled out its own DEX, Pump Swap, while major centralized exchanges (CEXs) accelerated their transition and put toward products combining spot and on-chain transactions. These offerings help bridge the liquidity gap between CEXs and on-chain trading, in order to capture opportunities in early-stage tokens' hype and drive a faster recovery in Solana's on-chain liquidity.
- 20:05Market news: Polymarket is conducting a new round of financing, with a post-investment valuation of $3 billion.ChainCatcher reported, citing informed sources, that Polymarket is conducting a new round of financing, with a post-investment valuation reaching 3 billion USD. At least one investor has valued Polymarket at 10 billion USD. Polymarket declined to comment.
- 19:02BlackRock executive Rick Rieder emerges as a top candidate for Federal Reserve ChairmanAccording to a report by Jinse Finance, a U.S. government official revealed that Rick Rieder, a senior executive at BlackRock, has risen in the ranks among contenders for the position of Federal Reserve Chair. The official stated that during a two-hour, wide-ranging meeting held in New York on Friday, U.S. Treasury Secretary Bessent and Rieder engaged in in-depth discussions on topics including monetary policy, the structure of the Federal Reserve, and regulatory policy. So far, Bessent has interviewed four out of the eleven publicly acknowledged candidates under consideration, emphasizing that the entire selection process is still ongoing. It is likely that one or two more candidates will be added to the list in the future. Rieder is one of BlackRock’s most senior executives, responsible for managing the company’s fixed income business. It was revealed that Bessent was impressed by Rieder’s extensive experience leading large teams in financial markets, as well as his deep understanding of both micro and macro factors affecting the economy. If Rieder were to become Federal Reserve Chair, he would bring a steady approach and an in-depth understanding of financial institutions outside the banking system. Additionally, Bessent particularly appreciates Rieder’s ability to use forward-looking frameworks to assess economic trends, rather than relying solely on lagging historical data.
- 18:13Data: If ETH falls below $4,376, the cumulative long liquidation intensity on major CEXs will reach $2.729 billions.According to ChainCatcher, citing data from Coinglass, if ETH falls below $4,376, the cumulative long liquidation intensity on major CEXs will reach $2.729 billions. Conversely, if ETH breaks above $4,813, the cumulative short liquidation intensity on major CEXs will reach $1.01 billions.