比特幣潮流和美聯儲政策增加了市場波動

2025年3月20日，比特幣的價格打破了85,000美元，近期升高，單天增加了3％以上。

Bitcoin price surged more than 3% on March 20, hitting a recent high of $85,000, and Ethereum price rose nearly 7%, driving the crypto market to rise across the board.

比特幣的價格在3月20日飆升了3％以上，最近達到了85,000美元的高價，以太坊價格上漲了近7％，推動加密貨幣市場上漲。

This rise is closely related to the risk aversion demand caused by the plunge of the Turkish lira. The trading volume of BTC/TRY on the Binance platform has surged to a one-year peak, and investors are accelerating their shift to stablecoin assets such as USDT.

這一上升與土耳其里拉的暴跌引起的風險規避需求密切相關。 BTC/Try在Binance平台上的交易量已經飆升至一年的高峰，投資者正在加速他們向USDT等Stablecoin資產的轉變。

At the same time, the Federal Reserve announced its interest rate decision early this morning. As expected, it would maintain the benchmark interest rate unchanged, but lowered its GDP growth forecast for 2025 and raised its inflation forecast.

同時，美聯儲今天清晨宣布了其利率決定。如預期的那樣，它將保持基準利率不變，但降低了其GDP的增長預測，並提高了其通貨膨脹預測。

Fed Chairman Powell said that "policy adjustments need to be made based on data," and the market's uncertainty about expectations for rate cuts has exacerbated short-term volatility.

美聯儲董事長鮑威爾說，“需要根據數據進行政策調整”，市場對削減稅率期望的不確定性加劇了短期波動。

In this context, XBIT decentralized exchange has become the core choice for investors to hedge risks with its multiple security mechanisms - it uses cold wallets to store 95% of user assets offline, smart contracts are regularly audited by third parties such as CertiK, the vulnerability rate is kept at 0%, and the transaction records are traceable on the entire chain through blockchain browsers to ensure the authenticity and integrity of each transaction.

The compliance process of USDC exchanges is accelerating, and SBI and OKX are the focus

USDC交流的合規過程正在加速，SBI和OKX是重點

The ecological layout of stablecoin USDC continues to deepen. SBI VC Trade, an exchange under the Japanese financial giant SBI Group, officially launched the USDC service on March 12, becoming the first institution in Japan to obtain the registration of "electronic payment methods and other transaction practitioners."

Stablecoin USDC的生態佈局繼續加深。日本金融巨頭SBI集團的交易所SBI VC Trade於3月12日正式啟動了USDC服務，成為日本第一家獲得“電子支付方法和其他交易從業人員”註冊的機構。

Although the current circulation scope is limited to internal testing of the group, this move marks a key step in the landing of USDC in Asian compliant exchanges.

儘管目前的循環範圍僅限於該組的內部測試，但此舉標誌著在符合亞洲的交流中登陸USDC的關鍵步驟。

In addition, OKX has recently added dozens of USD trading pairs, covering tokens such as MDT, PERP, and AXS, further expanding the application scenarios of USDC in spot trading and providing more fiat currency deposit and withdrawal options for global users.

此外，OKX最近增加了數十個USD交易對，涵蓋了MDT，PERP和AXS等代幣，進一步擴大了USDC的應用程序方案，並為全球用戶提供了更多的法定貨幣存款和提款期權。

USDC Economic Status report released by Circle shows that the total historical transaction volume of USDC has now exceeded $20 trillion, and the monthly transaction volume in November reached $1 trillion, a year-on-year increase of 50%. Its advantages in compliance and cross-border payment capabilities continue to attract institutional users. For example, Standard Chartered Bank Zodia Markets has minted 4 billion US dollars of USDC for foreign exchange settlement, which solves the T+1 settlement problem in the Asia-Pacific region.

Circle發布的USDC經濟狀況報告顯示，現在的歷史交易總額已超過20萬億美元，11月的每月交易量達到1萬億美元，同比增長50％。它在合規性和跨境支付能力方面的優勢繼續吸引機構用戶。例如，標準的特許銀行Zodia市場已鑄造了40億美元的外彙和解，該公司解決了亞太地區T+1和解問題。

XBIT decentralized exchange: a safe and efficient hedge option

XBIT分散交流：安全有效的樹籬選項

Against the background of Bitcoin’s sharp fluctuations and the Fed’s policy adjustments, XBIT decentralized exchange has become the core platform for investors’ asset management with its non-custodial architecture and on-chain verifiable mechanism. XBIT uses zero-knowledge proof technology (ZK-Snarks) to ensure transaction privacy and uses multi-signature wallets to reduce asset custody risks. Recently, its cross-chain bridging function supports instant exchange of USDC with BTC and ETH, further improving liquidity efficiency.

在比特幣的急劇波動和美聯儲的政策調整的背景下，XBIT分散交流已成為投資者資產管理的核心平台，其非習慣架構和鏈上可驗證的機制。 XBIT使用零知識證明技術（ZK-SNARKS）來確保交易隱私，並使用多簽名錢包來降低資產保管風險。最近，其跨鏈橋接功能支持USDC與BTC和ETH的即時交換，從而進一步提高了流動性效率。

It is worth noting that the decentralized trading protocol Hibachi announced the completion of a $5 million seed round of financing on the same day, with participation from top institutions such as Dragonfly. Its verifiable security design based on zero knowledge echoes the technical path of XBIT, highlighting the industry’s emphasis on transparent infrastructure.

值得注意的是，分散的交易協議Hibachi宣佈在同一天完成500萬美元的種子融資，並從蜻蜓等頂級機構參與。其基於零知識的可驗證的安全設計與XBIT的技術路徑相呼應，突出了該行業對透明基礎架構的重視。

USDC liquidity game in DEX and CEX: core differences and market dynamics

DEX和CEX中的USDC流動性遊戲：核心差異和市場動態

Against the background of Bitcoin’s sharp fluctuations and the Fed’s policy adjustments, USDC, as a compliant stable currency, has a significant difference in the liquidity role of DEX in decentralized exchanges and CEX centralized exchanges. The following is a comparative analysis from four dimensions: asset control, transaction efficiency, security and regulatory adaptability:

在比特幣的急劇波動和美聯儲的政策調整的背景下，作為合規穩定的貨幣，USDC在DEX在分散交流和CEX集中交易所中的流動性作用有顯著差異。以下是來自四個維度的比較分析：資產控制，交易效率，安全性和監管適應性：

1.Asset control and transparency

1.國庫控制和透明度

DEX: Users directly manage assets through self-hosted wallets, private keys are always controlled by individuals, transactions are completed on the smart contract chain, and all records are publicly available, eliminating the risk of black box operations. For example, the XBIT platform provides low slippage transactions through USDC, and user assets flow on the chain without relying on third-party custody.

DEX：用戶直接通過自主錢包，私鑰始終由個人控制，交易在智能合約鏈上完成，並且所有記錄都可以公開可用，從而消除了黑匣子操作的風險。例如，XBIT平台通過USDC提供低水平交易，而用戶資產在不依賴第三方監管機構的情況下流動。

CEX: Users need to deposit USDC into the exchange’s custodial wallet, the private key is controlled by the platform, and the transaction is executed off-chain, which has low transparency. Recently, a leading CEX has caused users to turn to DEX due to the leakage of API keys, highlighting the custody risk.

CEX：用戶需要將USDC存放到交易所的託管錢包中，私鑰由平台控制，並且交易是在鍊子外執行的，其透​​明度較低。最近，由於API鍵洩漏，領先的CEX導致用戶轉向DEX，從而突出了監護權風險。

2.Trading efficiency and liquidity depth

2.交易效率和流動性深度

CEX: With centralized market makers and a large user base, CEX provides high liquidity and instant trading experience, and USDC has extremely low slippage in mainstream currency pairs. For example, after the MEXC exchange launched the DEX+ function, the transaction volume exceeded 110,000 USDT in 24 hours,

CEX：借助集中式做市商和大型用戶群，CEX提供了高流動性和即時交易經驗，而USDC在主流貨幣對中的滑倒極低。例如，在MEXC Exchange啟動DEX+功能之後，交易量在24小時內超過110,000美元，