比特幣（BTC）儲備金，貨幣政策和對貿易戰爭的恐懼正在激發市場

意見：由於對正在進行的貿易戰爭和貨幣政策的擔憂，加密貨幣市場在3月下降。根據Binance的一份新報告，儘管如此，交易者並未放棄比特幣。

Crypto markets experienced a decline in March due to concerns over the ongoing trade war and monetary policy. Still, traders have not given up on Bitcoin, according to a new report from Binance.

由於對正在進行的貿易戰爭和貨幣政策的擔憂，加密貨幣市場在3月的下降。根據Binance的一份新報告，儘管如此，交易者並未放棄比特幣。

On April 4, Binance published a report on the state of the crypto market last month, highlighting key trends.

4月4日，Binance上個月發布了有關加密貨幣市場狀況的報告，強調了關鍵趨勢。

The overall crypto market declined by 4.4% in March. A primary driver of this volatility was tariff tensions, as U.S. President Donald Trump threatened a trade war with most of the U.S.’s major trading partners. This was enough to drag down both crypto and stock prices, despite several positive developments.

三月份的整體加密貨幣市場下降了4.4％。這種波動性的主要驅動力是關稅緊張局勢，因為美國總統唐納德·特朗普（Donald Trump）威脅要與美國大多數主要貿易夥伴進行貿易戰。儘管有一些積極的發展，但這足以拖延加密和股價。

For one, the Federal Reserve signaled a pause to its tightening policy. This was good news for risk assets like crypto, which saw prices drop due to reduced liquidity. At the same time, the Bitcoin strategic reserve push was a major driver of positive sentiment for the biggest crypto asset.

首先，美聯儲標誌著其緊縮政策的停頓。對於像加密貨幣這樣的風險資產，這是個好消息，由於流動性降低，價格下跌。同時，比特幣戰略儲備金推動是最大的加密資產積極情緒的主要驅動力。

Memecoins down, Bitcoin remains strong: Binance

模因降低，比特幣保持強大：binance

The increased volatility contributed to a sharp decline across several market segments, particularly memecoins. Notably, the memecoin launchpad Pump.fun saw a significant drop in activity, indicating that the memecoin market may have peaked.

波動性的提高導致了幾個市場細分市場，特別是成員的急劇下降。值得注意的是，Memecoin LaunchPad泵。 FUN的活動大幅下降，表明Memecoin市場可能已經達到頂峰。

This decline began shortly after Trump’s inauguration and coincided with the launch of several TRUMP-themed memecoins. Trading volumes on Pump.fun are down 69.9%, dropping from $33.3 billion to $1 billion. Meanwhile, the number of active wallets decreased by 45.1% to 1.44 million, and new token creation fell by 51.8%.

在特朗普就職典禮後不久，這種下降就開始了，並恰逢幾個以特朗普主題的成員的推出。泵的交易量下降了69.9％，從333億美元下降到10億美元。同時，活動錢包的數量減少了45.1％，至144萬，而新的代幣創建下降了51.8％。

In the DeFi space, Uniswap saw its dominance erode as emerging competitors gained ground, with market share falling from 45% in April 2024 to 29% in March 2025. Notably, BNB-based PancakeSwap surpassed Uniswap in volume, mainly driven by its lower transaction fees.

在Defi空間中，隨著新興競爭對手的發展，UNISWAP的統治地位侵蝕了，市場份額從2024年4月的45％下降到2025年3月的29％。值得注意的是，基於BNB的Pancakeswap的數量超過了額外的UNISWAP，主要由較低的交易費用驅動。

Despite these broader shifts in the crypto market, Bitcoin has retained its status as a haven for many traders. The amount of BTC held by long-term holders continues to grow. Additionally, Bitcoin’s DeFi ecosystem is expanding rapidly. In a year-over-year comparison, the value locked in Bitcoin DeFi has surged by 2,767%, rising from $0.3 billion to $8.6 billion.

儘管在加密市場上發生了更廣泛的轉變，但比特幣仍保留了許多交易者的避風港地位。長期持有人持有的BTC數量繼續增長。此外，比特幣的Defi生態系統正在迅速擴展。在同比的比較中，鎖定比特幣Defi的價值飆升了2,767％，從3億美元增加到86億美元。