本週的市場動盪源於多個宏觀經濟因素

本週的市場動盪源於多個宏觀經濟因素，包括過去兩周中比特幣ETF的10億美元流出。

This week’s market turmoil stemmed from multiple macroeconomic factors, including a significant outflow of over $1 billion from Bitcoin ETFs in the past two weeks. Additionally, a strengthening Japanese yen, often viewed as a safe-haven asset, put downward pressure on riskier investments like cryptocurrencies.

本週的市場動盪源於多個宏觀經濟因素，包括過去兩周中比特幣ETF的10億美元流出。此外，加強日元經常被視為避風港資產，對加密貨幣（例如加密貨幣）的風險投資施加了下降壓力。

However, expectations for a more accommodative U.S. Federal Reserve monetary policy have surged. Prediction markets now assign a 30% probability to a rate cut in May, while the likelihood of two rate cuts by June has tripled to 15%.

但是，對美國美聯儲貨幣貨幣政策的期望已經激增。預測市場現在將30％的概率分配到5月的降低率，而6月份降低兩次降低的可能性已增加了兩倍，達到15％。

These shifting expectations follow concerning economic signals—most notably, U.S. consumer confidence plummeting by 7 points in February to 98.3, marking its steepest decline since August 2021 and its third consecutive monthly drop.

對經濟信號的這些轉移期望發生了轉移的期望 - 最值得注意的是，美國消費者的信心在2月至98.3點下降了7分，這標誌著自2021年8月以來的最大下降和連續第三次下降。

Crypto markets, particularly Bitcoin, remain sensitive to U.S. economic trends, as lower interest rates and declining consumer confidence could free up idle capital, potentially fueling renewed retail participation in digital assets.

加密市場，尤其是比特幣，仍然對美國的經濟趨勢保持敏感，因為較低的利率和消費者的信心下降可以釋放閒置的資本，從而有可能加劇新的零售參與數字資產的參與。

Bitcoin hit a new low of $84,096 following another sell off Wednesday night, Source: Bitcoin Liquid Index

在周三晚上另一次售罄之後，比特幣的新低點為84,096美元，資料來源：比特幣液體指數

One of the key drivers behind XRP’s relative strength during this week’s crypto crash is a proposed upgrade to the XRP Ledger (XRPL) introduced by RippleX developers. The proposal, detailed on the DEV Community platform, aims to integrate WebAssembly (WASM), a move that would bring native smart contract functionality to XRPL.

在本週的加密貨幣崩潰期間，XRP相對力量背後的主要動力之一是Ripplex Developers引入的XRP Ledger（XRPL）的擬議升級。該提案詳細介紹了開發社區平台，旨在集成WebAssembly（WASM），此舉將為XRPL帶來本地智能合同功能。

The XRP Ledger (XRPL) is rapidly evolving to meet the growing demands of institutional decentralized finance (DeFi). By integrating advanced features such as Automated Market Makers (AMMs), Decentralized Identifiers (DIDs), and Multi-Purpose Tokens (MPTs), XRPL is positioning itself as a robust, compliance-friendly blockchain for financial institutions.

XRP Ledger（XRPL）正在迅速發展，以滿足制度分散融資（DEFI）的不斷增長的需求。通過整合高級功能，例如自動化做市商（AMM），分散的標識符（DIDS）和多功能令牌（MPTS），XRPL將自己定位為適合金融機構的強大，合規性的區塊鏈。

Automated Market Maker (AMM): XRPL’s AMM, based on the XLS-30 standard, enhances liquidity for tokenized assets, stablecoins, and real-world assets (RWAs). This AMM is uniquely integrated with XRPL’s native order book-based decentralized exchange (DEX), optimizing price discovery and minimizing slippage. Its continuous auction mechanism addresses impermanent loss, making liquidity provision more attractive to institutional participants. Additionally, the AMM Clawback feature allows issuers to retrieve funds under specific circumstances, aligning with regulatory requirements for fraud prevention.

自動化做市商（AMM）：XRPL的AMM基於XLS-30標準，可以提高令牌化資產，Stablecoins和Real-World Assets（RWAS）的流動性。該AMM與XRPL的基於書籍的分散交易所（DEX）唯一地集成在一起，優化了價格發現並最大程度地減少滑倒。它的連續拍賣機制解決了無常損失，使流動性提供對機構參與者的吸引力更具吸引力。此外，AMM Clawback功能允許發行人在特定情況下檢索資金，與預防欺詐的監管要求保持一致。

Decentralized Identifiers (DIDs): With the implementation of XLS-40, XRPL now supports the creation and management of DIDs directly on the ledger. This advancement enables self-sovereign identities, enhancing security and privacy while facilitating compliance. DIDs are crucial for permissioned access to financial markets and identity verification in tokenized RWA transactions, promoting broader institutional adoption of DeFi.

分散的標識符（DIDS）：隨著XLS-40的實現，XRPL現在直接支持Ledger上DIDS的創建和管理。這一進步可以使自我主張身份，在促進合規性的同時增強安全性和隱私性。 DID對於允許進入金融市場的許可和標記RWA交易中的身份驗證至關重要，從而促進了更廣泛的機構採用Defi。

Multi-Purpose Tokens (MPTs): To bridge the gap between fungible and non-fungible tokens, XRPL introduces MPTs, which allow for the attachment of essential metadata to tokens. This feature is particularly beneficial for representing complex financial instruments like bonds, where specific attributes such as expiry dates are critical. MPTs offer the flexibility needed to accurately tokenize a wide range of assets, facilitating their seamless integration into the DeFi ecosystem.

多用途令牌（MPTS）：為了彌合可及格和無牙的令牌之間的間隙，XRPL引入了MPT，這允許將必需元數據附著在令牌上。此功能對於代表諸如債券之類的複雜金融工具特別有益，債券（例如到期日期）至關重要。 MPT提供了準確地將廣泛資產化的靈活性，從而促進了它們無縫集成到Defi生態系統中。

Institutional DeFi on the XRP Ledger, Source: Ripple

XRP Ledger上的機構Defi，來源：Ripple

These developments underscore XRPL’s commitment to providing a secure, efficient, and compliant platform for institutional DeFi. By continually enhancing its infrastructure, XRPL is poised to play a pivotal role in the future of regulated on-chain finance.

這些發展強調了XRPL致力於為機構辯護提供安全，高效且合規的平台。通過不斷增強其基礎設施，XRPL準備在受監管的鏈融資的未來中發揮關鍵作用。

If implemented, this would mark the most significant upgrade to XRPL since its launch in 2013, positioning it as a stronger competitor in the decentralized finance (DeFi) space and expanding its utility beyond cross-border payments. The prospect of increased use cases, particularly in institutional applications, appears to be boosting investor confidence in XRP, good news for XRP investors, and another reason why XRP is a strong consideration for those investors wondering what crypto to buy now.

如果實施，這將標誌著自2013年推出以來XRPL最重要的升級，將其定位為分散的融資（DEFI）領域中更強大的競爭對手，並將其公用事業擴展到跨境支付之外。增加用例的前景，特別是在機構應用程序中，似乎增強了投資者對XRP的信心，對XRP投資者的好消息以及XRP是那些想知道現在要購買什麼加密貨幣的投資者的另一個原因。

Despite the market turbulence, Ripple’s long-term ambitions for XRP remain significant, with the company actively expanding its blockchain ecosystem to attract institutional adoption. Plans are underway to integrate institutional decentralized finance (DeFi) products and real-world asset tokenization into the XRP Ledger (XRPL)—a move that could position XRP as a key player in blockchain-based financial services.

儘管市場動盪，但Ripple對XRP的長期野心仍然很大，該公司積極擴大其區塊鏈生態系統以吸引機構採用。正在計劃將機構分散融資（DEFI）產品和實際資產令牌化整合到XRP Ledger（XRPL）中，這一舉動可以將XRP定位為基於區塊鏈的金融服務中的關鍵參與者。

Key developments in Ripple’s roadmap include:

Ripple路線圖的主要發展包括：

David Schwartz, Ripple’s Chief Technology Officer (CTO) has expressed confidence in massive institutional XRP adoption, predicting that XRPL’s DeFi sector will surge as major banks begin integrating the technology.

Ripple首席技術官（CTO）對大規模的機構XRP採用表示信心，預測隨著主要銀行開始整合該技術，XRPL的挑戰將激增。

David Schwartz says “As roadmaps go, I think this one is pretty great – outlining a clear direction with use cases and features” Source: X

大衛·施瓦茨（David Schwartz）說：“隨著路線圖的發展，我認為這是很棒的 - 概述了用用例和功能的明確方向”來源：x

To further expand XRP’s capabilities, Ripple is also working on an Ethereum Virtual Machine (EVM)-compatible sidechain, designed to attract Ethereum-based developers and expand XRP’s role in decentralized applications (dApps). Combined with Ripple’s continued efforts in cross-border payments, these

為了進一步擴大XRP的功能，Ripple還在開發以太坊虛擬機（EVM）合併的Sidechain，旨在吸引基於以太坊的開發人員並擴展XRP在分散應用程序（DAPP）中的作用。加上Ripple在跨境支付中的持續努力，這些