隨着比特幣收益基金的推出，Coinbase希望爲非美國投資者提供4-8%的穩定收益，並以比特幣支付。
Coinbase推出8%比特幣收益基金，面向企業投資者
爲了給美國以外的投資者提供比特幣的長期回報，Coinbase

隨着比特幣收益基金的推出，Coinbase 希望爲非美國投資者提供 4-8% 的穩定收益，這些收益將以比特幣支付。

**Coinbase推出8%比特幣收益基金供企業投資者使用**

爲了爲美國以外的投資者提供比特幣的長期回報，Coinbase資產管理公司即將推出一款新的機構產品。該基金於星期一宣布推出Coinbase比特幣收益基金(CBYF)，計劃於5月1日上線，旨在獲取超過1萬億美元的比特幣流動性，以提供4%到8%的年化回報。

以太坊和索拉納是提供原生質押紅利的權益證明(PoS)加密貨幣的例子，而比特幣的工作量證明(PoW)共識沒有內置的被動收入機制。

根據Coinbase的發布，投資者在使用傳統技術生成比特幣收入時，常常面臨重大操作和投資風險。

爲了應對這一點，CBYF將使用現金和持有套利技術，這涉及捕捉比特幣期貨市場和現貨市場之間的價格差異。

該基金將特別避免高風險活動，例如系統性期權賣出和無擔保比特幣借貸。

**投資者必須了解的Coinbase比特幣收益基金 (CBYF)**

Fillings表示，回報將以比特幣形式進行，而Coinbase則指出將使用第三方保管人以降低對手方風險並保護客戶持有的資產。

尋求更安全的收益生產方式而不妥協安全性或監管標準的機構將會發現這一策略非常吸引人。

由於Coinbase強調滿足全球對合規比特幣收益產品的需求，比特幣收益基金僅對不在美國的機構投資者開放。

阿布扎比監管的財富管理平台Aspen Digital已經爲該基金的種子投資做出了貢獻，並將成爲CBYF在亞洲和阿聯酋的首個獨家分銷商。

長期持有者一直在尋找可持續和合法的方式來獲得比特幣投資的回報。Aspen Digital 的首席執行官 Elliot Andrews 表示：“我們很高興將這個產品引入私人財富市場，因爲 Coinbase 是該資產類別中最可靠的對手方，並且投資者對比特幣收益有強烈的需求。”

**展望未來：Coinbase準備擴展對比特幣收益市場的主導地位**

Coinbase比特幣收益基金的推出是在美國股市波動和對非週期性資產需求增加之後。

根據DeFiLlama的數據，比特幣 DeFi 中的總鎖定價值從4月17日的37億美元增加到寫作時的59億美元，這表明這些協議在近年來受到了顯著的客戶關注。

雖然比特幣 DeFi 協議如 Babylon 和 Lombard 融資大多服務於散戶投資者，但 Coinbase 的 CBYF 現在提供了一種符合規定的產品，以滿足機構需求。

鑑於政府機構和企業投資者對結構化加密貨幣投資工具的需求不斷增加，Coinbase 似乎準備擴大其市場領導地位，不僅限於交易和保管，還包括爲國際組織提供收益生成服務。

With the launch of its Bitcoin Yield Fund, Coinbase hopes to provide non-US investors with steady yields of 4–8% that are paid out in Bitcoin.
Coinbase unveils 8% Bitcoin Yield Fund for corporate investors
In order to provide investors outside of the US with long-term returns in Bitcoin, Coinbase

With the launch of its Bitcoin Yield Fund, Coinbase hopes to provide non-US investors with steady yields of 4–8% that are paid out in Bitcoin.

**Coinbase unveils 8% Bitcoin Yield Fund for corporate investors**

In order to provide investors outside of the US with long-term returns in Bitcoin, Coinbase Asset Management is about to introduce a new institutional product. Announcing the Coinbase Bitcoin Yield Fund (CBYF) on Monday, the fund is set to launch on May 1 and seeks to access more than $1 trillion in bitcoin liquidity to provide annualized returns of 4% to 8%.

Ethereum and Solana are examples of Proof-of-Stake (PoS) cryptocurrencies that provide native staking dividends, whereas Bitcoin’s Proof-of-Work (PoW) consensus does not have a built-in mechanism for making passive income.

According to Coinbase’s release, investors are frequently exposed to substantial operational and investment risks when using conventional techniques to generate Bitcoin income.

In order to combat this, CBYF will use a cash-and-carry arbitrage technique, which involves capturing price differences between the futures and spot markets for Bitcoin.

The fund will notably steer clear of high-risk activities such as systematic options selling and unsecured bitcoin lending.

**What investors must know about Coinbase’s Bitcoin Yield Fund (CBYF)**

Fillings stated that returns will be made in bitcoin, while Coinbase pointed out that third-party custodians will be used to reduce counterparty risks and protect client holdings.

Institutions looking for safer ways to produce yield without compromising security or regulatory standards will find the strategy appealing.

Due to Coinbase’s emphasis on meeting global demand for compliant bitcoin yield products, the Bitcoin Yield Fund is only accessible to institutional investors that are not based in the United States.

Aspen Digital, an Abu Dhabi-regulated wealth management platform, has already contributed to the fund’s seeding and will serve as CBYF’s first exclusive distributor in Asia and the United Arab Emirates.

Long-term holders have been looking for ways to earn returns on their investments in bitcoin in a sustainable and legal manner. Elliot Andrews, CEO of Aspen Digital, stated, “We are thrilled to introduce this product to the private wealth market because Coinbase is the most reliable counterparty in the asset class and because investors have a strong demand for Bitcoin yield.”

**Looking ahead: Coinbase set to expand dominance into Bitcoin yield market**

The introduction of the Coinbase Bitcoin Yield Fund comes after US stock market volatility and an increase in demand for non-cyclical assets.

According to DeFiLlama, the total value locked in Bitcoin DeFi increased from $3.7 billion on April 17 to $5.9 billion at the time of writing, indicating that the protocols have seen significant customer interest in recent years.

While Bitcoin DeFi protocols such as Babylon and Lombard financing have mostly served retail investors, Coinbase’s CBYF now offers a compliant product offering that addresses institutional demand.

Given the increasing demand from government organizations and corporate investors for structured cryptocurrency investment vehicles, Coinbase seems poised to expand its market leadership beyond trading and custody to include yield-generation services for international organizations.

Coinbase Introduces Bitcoin Yield Fund With 4–8% Return Potential - Cryptured.com

Coinbase推出比特幣收益基金，回報潛力爲4–8% - Cryptured.com

根據聯合創始人V神的建議，將以太坊現有的以太坊虛擬機(EVM)智能合約語言環境切換到更“高效”的RISC-V，以太坊(ETH)周一下跌了1%。
V神提議將以太坊虛擬機(EVM)更改爲RISC-V
V神發布了一個

VIRTUAL

以太坊虛擬機(EVM)

根據聯合創始人V神的建議，將以太坊現有的以太坊虛擬機(EVM)智能合約語言環境切換到更“高效”的RISC-V，以太坊(ETH)周一下跌了1%。

**V神提議將以太坊虛擬機(EVM)更改爲RISC-V**

V神在以太坊魔法師論壇上發布了一項大膽的提議，旨在改變以太坊的執行層 (EL)，可能導致100%的效率提升。他提議使用開源的RISC-V (精簡指令集計算5)架構來替代現有的以太坊虛擬機(EVM)智能合約語言生態系統。

“它[RISC-V]旨在大幅提高以太坊執行層的效率，解決主要的擴展瓶頸之一。它還可以大大簡化執行層；實際上，這可能是唯一的實現方式，”V神表示。

例如，他建議“確立‘虛擬機解釋器’的概念，並要求其邏輯用RISC-V編寫”，“使用用RISC-V編寫的EVM解釋器合約來運行他們現有的EVM代碼”，以及“支持EVM和RISC-V兩者”。

Cinneamhain Venture的合夥人Adam Cochran認爲，盡管一些工程師正在爭論該提案的可行性，但從EVM切換到RISC-V可能會影響以太坊的L2中心計劃。

盡管這對於L1執行來說非常出色，但科克倫指出，作爲對重大技術提升的交換，這降低了L2的附加價值，使它們與我們競爭，並且對該計劃並沒有帶來太多價值。

然而，V神現在有更多時間進行研究和探索，以“加速以太坊的重大長期突破”，這要歸功於以太坊基金會的(EF)最近的領導變動，聯合執行董事Tomasz Stańczak表示。然而，他警告說，V神的建議主要是爲了推動重要研究領域並開始討論。

“它們可能會被社區評估拒絕或大幅改進，”Stańczak指出。他繼續說道：“以太坊研究人員經常要求讀者理解他們的寫作和建議的探索性特徵。”

根據Stańczak的說法，EF將在接下來的Pectra、Fusaka和Glamsterdam改進中專注於改善用戶體驗和擴展L1和L2。

爲了在主網中添加多個功能，例如錢包恢復、交易批處理、blobspace 擴展，以及將最大驗證者質押限制提高到 2,048 姨太，以太坊核心開發者計劃於 5 月 7 日進行 Pectra 升級。

隨着L2和Solana從以太坊L1中搶佔交易量，即將到來的修改和計劃與過去12個月加密貨幣收益的下降相吻合。

**以太坊價格預測：ETH在突破關鍵下降趨勢線後測試$1,688阻力位**

根據Coinglass的數據，以太坊在過去一天內經歷了5344萬美元的期貨清算。多頭清算總額爲2733萬美元，而空頭清算總額爲2611萬美元。

在經歷了一周的穩定，價格在$1,600附近後，ETH突破了自3月24日起一直存在的下跌趨勢線。但這枚領先的山寨幣在$1,688附近遇到了阻力，自4月9日起，空頭在該價格水平增加了賣壓。

如果以太能夠維持下降趨勢線作爲支撐並突破1,688美元的障礙，它可能會達到從12月16日開始的一個重要下降通道的上限。50日簡單移動平均(SMA)加強了通道的上邊界。

從壞的一面來看，如果 ETH 持續跌破下降趨勢線，它可能會在接近 $1,450 的地方找到支撐。如果 ETH 跌破 $1,450，它可能會向下降通道的下邊緣大幅下跌 30%，即約 $1,150。

在早期的上升趨勢之後，隨機振蕩器(Stoch)和相對強弱指數(RSI)現在正在向下，暗示着看跌動能的緩慢積累。

Following co-founder Vitalik Buterin’s suggestion to switch from Ethereum’s existing Ethereum Virtual Machine (EVM) smart contract language environment to a more “efficient” RISC-V, Ethereum (ETH) is down 1% on Monday.
Vitalik Buterin proposes changing the EVM to RISC-V
Vitalik Buterin put up a

Following co-founder Vitalik Buterin’s suggestion to switch from Ethereum’s existing Ethereum Virtual Machine (EVM) smart contract language environment to a more “efficient” RISC-V, Ethereum (ETH) is down 1% on Monday.

**Vitalik Buterin proposes changing the EVM to RISC-V**

Vitalik Buterin put up a bold proposal to alter Ethereum’s execution layer (EL) in a post on the Ethereum Magicians forum on Sunday that might result in 100% efficiency increases. He proposed using the open-source RISC-V (Reduced Instruction Set Computing version 5) architecture in place of the existing EVM smart contract language ecosystem.

“It [RISC-V] aims to greatly improve the efficiency of the Ethereum execution layer, resolving one of the primary scaling bottlenecks. It can also greatly improve the simplicity of the execution layer; in fact, it may be the only way to do so,” Buterin stated.

For example, he suggested “enshrining the concept of a ‘virtual machine interpreter’ and requiring its logic to be written in RISC-V,” “using an EVM interpreter contract written in RISC-V that runs their existing EVM code,” and “enabling support for both the EVM and RISC-V.”

Adam Cochran, a partner at Cinneamhain Venture, contended that switching from EVM to RISC-V could impact Ethereum’s L2-centric plan, despite the fact that a number of engineers are disputing the proposal’s feasibility.

Although this would be excellent for L1 execution, Cochran pointed out that in exchange for a significant technical lift, it lowers the value add of L2s, putting them in competition with us, and doesn’t bring much value to that plan.

However, Buterin now has more time to conduct research and exploration that “accelerates major long-term breakthroughs” for Ethereum thanks to the Ethereum Foundation’s (EF) recent leadership change, according to co-executive director Tomasz Stańczak. He did, however, warn that Buterin’s recommendations are mostly meant to advance important research fields and start discussions.

They may be rejected or much improved upon by community evaluation,” Stańczak noted. He continued, “Ethereum researchers frequently request that readers understand the exploratory character of their writings and recommendations.

According to Stańczak, the EF will concentrate on improving UX and scaling L1 and L2 in the next Pectra, Fusaka, and Glamsterdam improvements.

In order to add a number of features to the mainnet, such as wallet recovery, transaction batching, blobspace extension, and raising the maximum validator staking limit to 2,048 ETH, Ethereum core developers planned the Pectra upgrade for May 7.

As L2s and Solana are stealing volume from the Ethereum L1, the forthcoming modifications and plans coincide with a decline in the cryptocurrency’s earnings over the previous 12 months.

**Ethereum Price Forecast: ETH tests $1,688 resistance after rising above key descending trendline**

According to Coinglass data, Ethereum witnessed $53.44 million in futures liquidations during the last day. Long liquidations total $27.33 million, while short liquidations total $26.11 million.

Following a week-long stabilization around $1,600, ETH broke above a falling trendline that had been in place since March 24. But the leading altcoin encountered opposition around $1,688, a price at which bears have increased their selling pressure since April 9.

ETH may be able to reach the top limit of a significant falling channel that starts on December 16 if it maintains the descending trendline as a support level and breaks through the $1,688 barrier. The 50-day Simple Moving Average (SMA) reinforces the upper border of the channel.

On the downside, ETH might find support close to $1,450 if it makes a persistent move below the declining trendline. ETH might plunge 30% toward the lower edge of the declining channel around $1,150 if it breaks below $1,450.

Following an early upward trend, the Stochastic Oscillator (Stoch) and Relative Strength Index (RSI) are now heading down, suggesting a slow build in bearish momentum.

ETH Approaches Key Resistance at $1,688 as Buterin Suggests EVM Shift to RISC-V - Cryptured.com

姨太接近關鍵阻力位$1,688，Buterin建議將以太坊虛擬機(EVM)轉向RISC-V - Cryptured.com

MSTR在其資產負債表上增加了6,556 BTC，花費了5.558億美元。他們是最大的企業BTC持有者，總共擁有538,200 BTC。這次購買是通過股票發行計劃融資的，截至目前投資BTC的金額達364.7億美元。

MSTR

發行

Strategy (MSTR)在周一的監管文件中透露，它已花費555.8百萬美元將6,556個比特幣(BTC)添加到其資產負債表中。

該公司繼續成爲最大的比特幣企業持有者，截至目前在該加密貨幣上投資了364.7億美元。

文件提到，該購買是通過公司的兩個市場上(ATM)股票發行計劃融資的。

在4月14日至4月20日期間，該公司出售了91,000股優先股系列STRK和176萬股A類普通股，該公司是比特幣最大的企業持有者。

優先股貢獻了780萬美元，普通股的銷售產生了5.477億美元。由於最近的收購，Strategy 目前總共擁有 538,200 BTC，收購的平均價格爲每幣67,766美元。

截至目前，由邁克爾·塞勒運營的公司已在比特幣上花費了364.7億美元。隨着比特幣在盤前交易中飆升至87,300美元，MSTR的股價上漲了2.77%。

MSTR added 6,556 BTC to its balance sheet, spending $555.8 million. They are the largest corporate BTC holder, owning 538,200 BTC in total. This purchase was funded through stock issuance programs, with $36.47 billion invested in BTC to date.

Strategy (MSTR) disclosed in a regulatory filing on Monday that it had spent $555.8 million to add 6,556 bitcoin (BTC) to its balance sheet.

The company continues to be the largest corporate holder of bitcoin, having invested $36.47 billion in the cryptocurrency to date.

The documents mention that the purchase was financed via the company’s two at-the-market (ATM) stock issuance programs.

Over 91,000 shares of the preferred stock series STRK and 1.76 million shares of its Class A common stock were sold by the company, which is the biggest corporate holder of bitcoin, between April 14 and April 20.

The preferred shares contributed an additional $7.8 million, and the sale of common stock generated $547.7 million. Strategy now owns 538,200 BTC overall, thanks to the most recent acquisition, which was made at an average price of $67,766 per coin.

To date, the corporation run by Michael Saylor has spent $36.47 billion on bitcoin. As Bitcoin surged to $87,300 in pre-market trade, MSTR’s shares were up 2.77%.

Strategy Acquires $555M in Bitcoin, Holdings Now Total 538,200 BTC - Cryptured.com

策略收購了5.55億美元的比特幣，持倉總計538,200 BTC - Cryptured.com

Samson Mow認爲，由於單位偏差影響山寨幣的估值，比特幣的主導地位將繼續漲，BTC預計將達到$88,216。Mow的分析質疑了山寨幣相對於比特幣的感知價值。

WOULD

山寨幣

Jan3的首席執行官Samson Mow聲稱，比特幣的主導地位在經過對比特幣與所有山寨幣在整體供應相等的情況下價格進行比較後，尚未達到其上升趨勢的盡頭。

$88,216 是他對比特幣的預測 (BTC)。預計主導地位將進一步增加，因爲該比例已經超過了許多加密貨幣專家預測到 2024 年底將達到的比例。

根據Mow在4月19日的X帖子，“單位偏差正在徹底摧毀沒有經驗的人。”單位偏差是一種行爲經濟學中的心理學技術，它假設人們通常更傾向於擁有一個完整的單位或股票，無論其價格和大小如何。Mow聲稱，這種偏差經常導致新手投資者相信，更便宜的山寨幣比擁有一部分比特幣更具價值。

**Mow questions 山寨 估值在公平競爭環境中**

“大約85,000美元，你可以購買比特幣供應量的二十一百萬分之一，”Mow表示。“如果你從山寨幣中去掉單位偏差來計算相當於1/21百萬的數量，會發生什麼？”他問道。

他指出，ETH $1,584現在將被估值爲$9,200，XRP $2.08將被估值爲$5,800，而Solana SOL $138.96將被估值爲$3,400。根據CoinMarketCap的數據，這些價格將分別代表自發布時價格以來大約278,746%、470%和2,328%的增長。

“這些山寨幣不值那麼多，”Mow評論道。

“單位偏見是普通人思維的核心基礎框架，”匿名比特幣支持者Sunny Po在1月12日表示。“更便宜更好。”

根據Mow的說法，“大多數”加密貨幣通過使用非常高的總供應量來利用單位偏差，這使得買家難以理解他們在購買什麼。

Mow聲稱，根據他的估計，比特幣的主導地位正在“急劇上升”。交易者經常使用比特幣主導率這一指標，該指標代表比特幣在整體市場市值中的百分比，以預測比特幣價格何時可能接近峯值。

在過去，比特幣主導率的下降常常標志着山寨幣季節的開始，因爲投資者將資金從比特幣轉向山寨幣，以尋求更高的回報。

根據TradingView的統計，比特幣的主導地位在發布時爲63.69%。

在山寨幣季節開始之前，許多加密貨幣專家預測比特幣的主導地位將在2024年底達到60%。

“我不認爲它會回升到70%，”Into The Cryptoverse的創始人本傑明·考恩在2024年8月表示。“我對比特幣主導性的目標一直是60%。”

Samson Mow believes Bitcoin's dominance will continue to rise due to unit bias affecting altcoin valuations, with BTC predicted to reach $88,216. Mow's analysis questions the perceived value of altcoins compared to Bitcoin.

Samson Mow, CEO of Jan3, claims that Bitcoin’s dominance hasn’t yet reached the end of its upward trend after examining how altcoin prices would compare to Bitcoin if all were on equal terms with overall supply.

$88,216 is his prediction for Bitcoin (BTC). Dominance is anticipated to increase further because the ratio has already surpassed the proportions that many cryptocurrency specialists predicted it would reach by the end of 2024.

According to Mow’s April 19 X post, “Unit bias is absolutely destroying the uninitiated.” Unit bias, a psychological technique in behavioral economics that postulates that people typically prefer to own a complete unit or stock regardless of its price and size, is what Mow claimed frequently leads novice investors to believe that cheaper altcoins are a better value than owning a portion of a Bitcoin.

**Mow questions altcoin valuations on level playing field**

“For about $85,000, you can purchase one twenty-one millionth of the Bitcoin supply,” Mow stated. “What happens if you take unit bias out of alts to figure out the equivalent of 1/21 million?” he questioned.

He noted that ETH $1,584 would now be valued at $9,200, XRP $2.08 would be valued at $5,800, and Solana SOL $138.96 would be valued at $3,400. Based on CoinMarketCap data, these prices would represent increases of roughly 278,746%, 470%, and 2,328%, respectively, from their prices at the time of publication.

“These alts aren’t worth that much,” Mow remarked.

“Unit bias is a core foundational framework of the normie mind,” stated Sunny Po, an anonymous Bitcoin supporter, on January 12. “Cheaper is better.”

According to Mow, “most” cryptocurrencies exploit unit bias by using a very high total supply, making it difficult for buyers to understand what they’re purchasing.

Mow claimed that the dominance of Bitcoin is increasing “so much higher” based on his estimations. Traders frequently use Bitcoin dominance, a metric that represents the cryptocurrency’s percentage of the overall market capitalization, to predict when the price of Bitcoin may be approaching a peak.

In the past, a drop in Bitcoin Dominance has frequently marked the beginning of altcoin season, as investors shift their money from Bitcoin to altcoins in search of greater returns.

According to TradingView statistics, Bitcoin Dominance stands at 63.69% at the time of publication.

Prior to the start of an altcoin season, a number of cryptocurrency specialists predicted that Bitcoin Dominance would peak at 60% in late 2024.

“I don’t think it is going back up to 70%,” stated Benjamin Cowen, the founder of Into The Cryptoverse, in August 2024. “My target for Bitcoin dominance has been 60%.”

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