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BTC $75,750.35 +1.86%
ETH $2,309.69 +1.61%
BNB $630.41 +1.70%
XRP $1.43 +1.73%
SOL $85.36 +1.59%
TRX $0.3289 -0.73%
DOGE $0.0952 +1.43%
ADA $0.2485 +1.67%
BCH $441.68 +0.81%
LINK $9.33 +1.95%
HYPE $40.81 -0.49%
AAVE $93.43 +2.08%
SUI $0.9446 +1.32%
XLM $0.1756 +4.82%
ZEC $313.02 +1.93%

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first_img Lily Liu, President of the Solana Foundation: About 180 out of 195 countries worldwide do not have access to capital markets, and blockchain provides a path to ownership

ChainCatcher reports live that Lily Liu, President of the Solana Foundation, delivered a keynote speech at the 2026 Hong Kong Web3 Carnival. She pointed out from a macroeconomic perspective that global production, users, and resources are distributed globally, but capital formation is not; only 20 stock exchanges in 14 countries account for 94% of the global market value of approximately $145 trillion, with two-thirds concentrated in the United States. This means that about 180 countries have almost no access to capital markets, and their economies can only rely on debt rather than equity financing, failing to provide ownership pathways for their citizens.She proposed the vision of an "Internet Capital Market," where any asset from anywhere can raise capital from anyone globally, priced in dollars and settled on an open track. Stablecoins are the key infrastructure for this vision, enabling any country to participate in the global financial system, while Solana provides the underlying settlement and execution layers. She also contrasted "Universal Basic Ownership" (UBO) with the widely discussed "Universal Basic Income" (UBI) in the AI era, arguing that blockchain allows anyone with a mobile phone to hold a part of their country's economy, representing basic property rights in the digital age without resorting to placing everyone in a welfare system.

Data: The market's long and short competition intensifies, with the spot CVD turning negative indicating increased selling pressure, but ETF capital inflow provides support

Glassnode's latest report indicates that although buying interest remains strong, providing some buffer for prices, market sentiment is turning cautious. Data shows that the cumulative volume delta (CVD) has shifted from positive to negative, selling pressure is rising, and bearish sentiment is beginning to emerge.Meanwhile, centralized exchanges are active, and market participation remains high. In the futures market, the increase in open interest indicates a rise in risk appetite, but the funding rate for long positions has significantly decreased, and the CVD for perpetual contracts has sharply declined, suggesting that traders are more willing to pay a premium to short, while buyer initiative is weakening and bearish sentiment is intensifying.In the options market, the demand for downside protection has decreased, which may ease bearish sentiment, but the contraction in open interest could indicate profit-taking, affecting subsequent volatility. The narrowing of volatility spreads suggests that market sentiment is shifting from risk pricing to neutral.The ETF sector has become a highlight, with the MVRV ratio and net inflows of U.S. spot ETFs rising, profitability and investor interest strengthening, and trading activity significantly increasing, indicating a growing enthusiasm for participating in Bitcoin through regulated channels, with market sentiment being cautiously optimistic.In terms of liquidity, the share of hot money has decreased, and the negative change in realized market value has narrowed, indicating that old money is dominating and net outflows are easing. The supply ratio between short-term and long-term holders remains stable, and long-term holders' confidence is solid.
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