Holdings
87.11B-1.44%
24H Liquidation
178.59M84.22%
BTC ETF 7D net inflow
+1.99万 BTC
ETH ETF 7D net inflow
+13.02万 ETH
Crypto Index
Crypto Index
$2.59T
BTC
ETH
Others
ETF Y-Flow >
184.1 BTC
≈14.4M USD
Fear & Greed Index
31
Fear
Market Share
59.98%
0.34%
10.66%
-0.27%
Fu Peng, chief economist of Xinhuo Group: Bitcoin perpetual contracts are essentially a system where large investors hold long positions and collect rent, while retail investors leverage their positions and pay fees.
According to Huoxun Finance, Fu Peng, the newly appointed chief economist of Xinhuo Group, pointed out in an article that the underlying business model of Bitcoin perpetual contracts is essentially the same as the "deferred fees/overnight fees" of traditional gold and industrial commodity spot exchanges. Fu Peng analyzed that in the early days, gold exchanges settled positions daily through forced liquidation, with long and short positions paying deferred fees to each other. When retail investors held a large number of highly leveraged long positions, deferred fees became the platform's most stable and hidden source of income. Currently, Bitcoin platforms mainly rely on perpetual contracts, with both long and short positions settling funding rates every 8 hours. When the market is dominated by long positions, long-term retail investors continuously pay funding rates to short positions. Although the platform does not directly collect this fee, this model can significantly increase trading activity, open interest, and liquidity, indirectly bringing in substantial transaction fee revenue for the platform, forming a stable and large cash flow. Essentially, it's a business model where large investors/institutions "collect rent" from long-term positions, retail investors pay for leveraged long positions, and the platform indirectly extracts revenue.
Polymarket reports an 88% probability that MegaETH will surpass a $1 billion market capitalization on its first day of listing.
According to the latest data from Polymarket, the current market probability for MegaETH's fully diluted valuation (FDV) to exceed $1 billion within one day of its launch is 88%. Specifically, the probability of MegaETH's FDV exceeding $600 million within one day is 97%, exceeding $800 million is 93%, exceeding $1.5 billion is 56%, and exceeding $2 billion is 31%. Previous reports indicated that MegaETH might begin its token generation event (TGE) on April 30th.
Fu Peng: Bitcoin perpetual contracts are essentially a system where large investors hold positions and collect rent, while retail investors use leverage to go long and pay fees.
According to an article published on the X platform by Fu Peng, chief economist of Newfire Group, published by Odaily Planet Daily, the underlying business model of Bitcoin perpetual contracts is essentially the same as the deferred fees or overnight fees of traditional gold and industrial commodity spot exchanges. Fu Peng pointed out that gold exchanges used to force both long and short positions to pay deferred fees through daily forced liquidation settlements. When retail investors held highly leveraged long positions, these deferred fees became a stable source of revenue for the platform. Now, Bitcoin platforms rely on perpetual contracts to settle funding rates every 8 hours. When long positions are dominant, retail investors continuously pay fees to short positions. Although the platform does not directly collect these fees, it indirectly obtains substantial transaction fees by increasing trading activity, open interest, and liquidity. This model is essentially a business model where large investors or institutions hold long positions and collect rent, retail investors pay fees for leveraged long positions, and the platform indirectly takes a cut.
Over the past 7 days, the circulating supply of USDC has decreased by approximately 700 million coins, bringing the total circulating supply to 78 billion.
According to official data, in the past seven days ending April 23, Circle issued approximately 5.1 billion USDC and redeemed approximately 5.8 billion USDC, resulting in a net decrease in circulating supply of approximately 700 million USDC. The current total circulating supply of USDC is 78 billion, with reserves of approximately $78.2 billion, including approximately $47.2 billion from overnight reverse repurchase agreements, approximately $19.4 billion from Treasury bonds with maturities of less than three months, approximately $11 billion from systemically important institution deposits, and approximately $600 million from other bank deposits.
The DeFi United ecosystem rescue campaign has raised over 69,618 ETH, worth approximately $161 million.
According to Huoxun Finance, following the rsETH incident on April 18th, the DeFi United coordinated rescue operation, spearheaded by Aave service providers, has raised a total of $161.53 million, equivalent to approximately 69,618 ETH. The plan aims to repair the rsETH collateral support damaged by the Kelp DAO bridging attack and improve liquidity across multiple networks. Key participants and those who have pledged commitments include: Aave founder Stani Kulechov, who has personally pledged 5,000 ETH; EtherFi, which has proposed contributing 5,000 ETH; Lido Finance, which has proposed contributing up to 2,500 stETH; and the Golem Foundation, which has contributed 1,000 ETH. In addition, several protocols, including Mantle, Ethena, Ink Foundation, LayerZero, Tydro, and BGD Labs, have also publicly participated or expressed their support.
Top Funding Rate
PF_TRUUSD | 1.2220%4h |
PF_CFGUSD | 0.9989%4h |
PF_MNTUSD | 0.9980%4h |
FIOUSDT | 0.5943%4h |
PF_CATUSD | 0.4005%4h |
Long/Short Ratio
BTC | 0.67 | |
ETH | 1.37 | |
SOL | 1.03 | |
XRP | 1.45 | |
DOGE | 1.21 |
Global Index
US Dollar Index (DXY)
$98.53
-0.24%
London Gold (XAU)
$4,709.25
0.33%
S&P 500 Index (SPX)
$7,165.08
0.80%
Nasdaq Index (IXIC)
$24,836.6
1.63%
ChainData
Spot
Derivatives
Unlock
Sector
# | Name | Price | Change(24H) | Change(7D) | Market | Trading Volume/Amount | Circulating Supply | 7D Price Trend | ||
|---|---|---|---|---|---|---|---|---|---|---|
1 | BTC Bitcoin | $77700 | -0.68% | +2.02% | $1,555.55B | $22.34B 264.61KBTC | ![]() 95.3% | |||
2 | ETH Ethereum | $2316.84 | -0.48% | -1.77% | $276.64B | $84.32B 3.47METH | ![]() ∞ | |||
3 | USDT Tether | $1 | +0.00% | +0.00% | $189.46B | $556.67M 556.14MUSDT | ![]() ∞ | |||
4 | XRP Ripple | $1.431 | -0.44% | -0.53% | $88.29B | $3.38B 1.74BXRP | ![]() 61.7% | |||
5 | BNB Binance ... | $635.2 | -0.43% | +0.22% | $85.58B | $1.27B 1.90MBNB | ![]() 67.4% | |||
6 | USDC USD Coin | $0.9997 | +0.02% | +0.01% | $77.73B | $5.08B 5.07BUSDC | ![]() ∞ | |||
7 | SOL Solana | $86.43 | -0.14% | -0.55% | $49.74B | $4.98B 33.36MSOL | ![]() ∞ | |||
8 | TRX TRON | $0.3231 | -1.48% | -1.55% | $30.6B | $561.16M 1.53BTRX | ![]() ∞ | |||
9 | STETH Lido Sta... | $2309.89 | -0.55% | -2.04% | $21.8B | $1.7M 734.54STETH | ![]() ∞ | |||
10 | DOGE Dogecoin | $0.09807 | -0.20% | +1.67% | $14.42B | $2.6B 19.53BDOGE | ![]() ∞ | |||
11 | WBT WhiteBIT... | $54.8598 | -0.39% | -0.78% | $11.72B | $46.45M 845.28KWBT | ![]() 53.4% | |||
12 | USDS USDS Sta... | $1 | +0.00% | +0.02% | $10.98B | $1.11M 1.11MUSDS | ![]() ∞ | |||
13 | HYPE Hyperliq... | $41.581 | +1.32% | -6.48% | $9.92B | $76M 1.84MHYPE | ![]() 23.8% | |||
14 | LEO UNUS SED... | $10.246 | -0.42% | +0.97% | $9.43B | $9.64M 944.97KLEO | ![]() ∞ | |||
15 | ADA Cardano | $0.2522 | +0.47% | -0.08% | $9.32B | $2.13B 1.57BADA | ![]() 82.2% | |||
16 | WBTC Wrapped ... | $111160.5 | +0.00% | +0.00% | $9.17B | $32.59M 410.20WBTC | ![]() ∞ | |||
17 | BCH Bitcoin ... | $454.2 | -0.75% | +1.56% | $9.08B | $2.13B 4.67MBCH | ![]() 95.4% | |||
18 | WBETH Wrapped ... | $2534.52 | -0.53% | -1.79% | $8.53B | $4.81M 1.90KWBETH | ![]() ∞ | |||
19 | XMR Monero | $371.4 | -1.06% | +5.92% | $6.84B | $88.86M 239.15KXMR | ![]() ∞ | |||
20 | LINK ChainLin... | $9.398 | +0.30% | +0.00% | $6.83B | $381.33M 40.13MLINK | ![]() 72.7% | |||
21 | ZEC Zcash | $356.93 | -0.01% | +9.39% | $5.95B | $426.65M 1.24MZEC | ![]() 79.4% | |||
22 | XLM Stellar | $0.1723 | -2.14% | +1.66% | $5.73B | $124.53M 716.43MXLM | ![]() 66.6% | |||
23 | M MemeCore | $4.4602 | +0.00% | -1.01% | $5.53B | $11.57M 2.69MM | ![]() 12.9% | |||
24 | WEETH Wrapped ... | $2517.19 | +0.55% | -3.83% | $5.29B | $434.1 0.17WEETH | ![]() ∞ | |||
25 | DAI Multi-co... | $0.9987 | +0.00% | +0.00% | $4.41B | $305,343.92 305.42KDAI | ![]() ∞ | |||
26 | LTC Litecoin | $56.33 | +0.16% | +0.33% | $4.33B | $972.17M 6.66MLTC | ![]() 91.8% | |||
27 | WETH wETH | $2316.83 | -0.64% | -1.84% | $4.23B | $6.5M 2.80KWETH | ![]() ∞ | |||
28 | AVAX Avalanch... | $9.401 | -0.37% | -0.26% | $4.06B | $315.19M 26.69MAVAX | ![]() 60% | |||
29 | HBAR Hedera | $0.0913 | +0.01% | +3.31% | $3.88B | $54.14M 592.89MHBAR | ![]() 85% | |||
30 | SUI Sui | $0.9466 | -0.37% | -2.88% | $3.74B | $577.62M 607.32MSUI | ![]() 39.5% | |||
31 | SHIB Shiba In... | $0.0{5}6204 | +0.03% | +0.77% | $3.65B | $187.76M 30.19TSHIB | ![]() 100% | |||
32 | PYUSD PayPal U... | $0.9995 | +0.01% | -0.02% | $3.45B | $7.39M 7.40MPYUSD | ![]() ∞ | |||
33 | TON Toncoin | $1.343 | +1.43% | -3.87% | $3.35B | $127.07M 60.82MTON | ![]() ∞ | |||
34 | CRO Cronos | $0.07051 | +1.10% | -0.03% | $3.07B | $2.68B 145.33MCRO | ![]() 43.5% | |||
35 | USD1 World Li... | $0.9996 | -0.02% | -0.02% | $2.99B | $256.53M 256.60MUSD1 | ![]() 100% | |||
36 | TAO Bittenso... | $252.4 | +1.69% | +1.52% | $2.73B | $138.05M 551.34KTAO | ![]() 51.7% | |||
37 | XAUT Tether G... | $4695.8 | +0.13% | -2.14% | $2.63B | $127.35M 27.01KXAUT | ![]() ∞ | |||
38 | PAXG PAX Gold | $4699.45 | +0.12% | -2.14% | $2.26B | $69.77M 14.79KPAXG | ![]() ∞ | |||
39 | MNT Mantle | $0.6581 | +1.13% | -1.19% | $2.16B | $12.14M 18.57MMNT | ![]() 52.7% | |||
40 | DOT Polkadot | $1.258 | +0.23% | -2.71% | $2.11B | $158.1M 123.19MDOT | ![]() 80% | |||
41 | WLFI World Li... | $0.0758 | +0.31% | -5.15% | $2.07B | $44.52M 590.07MWLFI | ![]() 27.3% | |||
42 | UNI Uniswap | $3.254 | -0.77% | -3.79% | $2.06B | $313.63M 94.04MUNI | ![]() 63.4% | |||
43 | SKY Sky Prot... | $0.08302 | -1.51% | +7.63% | $1.93B | $11.05M 131.73MSKY | ![]() 98.9% | |||
44 | ESTV ESTV | $1.8728 | -2.54% | -2.44% | $1.88B | $55,043.24 28.66KESTV | ![]() 100% | |||
45 | NEAR NEAR Pro... | $1.403 | -1.06% | +0.64% | $1.82B | $376.67M 268.73MNEAR | ![]() ∞ | |||
46 | USDF Falcon U... | $1 | +0.00% | +0.00% | $1.78B | $93,363.43 93.70KUSDF | ![]() ∞ | |||
47 | OKB OKB | $84.55 | +0.70% | -0.45% | $1.77B | $436.85M 5.17MOKB | ![]() 100% | |||
48 | PI Pi Netwo... | $0.1707 | +0.64% | -6.52% | $1.76B | $7.36M 42.97MPI | ![]() 10.3% | |||
49 | HTX HTX DAO | $0.0{5}1814 | -1.09% | +1.90% | $1.65B | $13.48M 7.39THTX | ![]() 90.6% | |||
50 | PEPE Pepe | $0.0{5}3843 | -0.75% | -0.37% | $1.62B | $557.03M 140.91TPEPE | ![]() 100% | |||
51 | JLP Jupiter ... | $3.9112 | -0.11% | -0.36% | $1.46B | $234,635.85 60.15KJLP | ![]() ∞ | |||
52 | AAVE Aave | $95.76 | +0.27% | -14.21% | $1.45B | $1.15B 11.83MAAVE | ![]() 94.9% | |||
53 | USDD Decentra... | $1 | +0.03% | +0.04% | $1.41B | $8.05M 8.05MUSDD | ![]() ∞ | |||
54 | BGB Bitget T... | $1.9287 | +0.00% | +2.63% | $1.38B | $110.85M 58.04MBGB | ![]() 35% | |||
55 | ICP Internet... | $2.462 | -1.17% | -3.57% | $1.36B | $24.35M 9.88MICP | ![]() ∞ | |||
56 | ETC Ethereum... | $8.52 | -0.38% | -0.69% | $1.33B | $76.14M 8.93METC | ![]() 74.2% | |||
57 | BFUSD BFUSD | $0.9995 | +0.01% | +0.01% | $1.32B | $4.21M 4.21MBFUSD | ![]() ∞ | |||
58 | ONDO Ondo | $0.2617 | -0.84% | -0.27% | $1.27B | $39.53M 150.40MONDO | ![]() 48.7% | |||
59 | KCS KuCoin T... | $8.447 | -0.69% | -1.30% | $1.14B | $37.64M 4.41MKCS | ![]() 67.3% | |||
60 | DEXE DeXe | $13.531 | +5.51% | -1.60% | $1.13B | $13.81M 1.05MDEXE | ![]() ∞ | |||
61 | WBNB Wrapped ... | $637.0851 | +0.01% | -1.24% | $1.12B | $4.31M 6.76KWBNB | ![]() ∞ | |||
62 | ASTER Aster | $0.6647 | -0.23% | +0.18% | $1.1B | $71.46M 106.99MASTER | ![]() 20.7% | |||
63 | PUMP Pump.fun | $0.001766 | -1.78% | -8.45% | $1.04B | $12.77M 7.20BPUMP | ![]() 59% | |||
64 | QNT Quant | $71.17 | -1.10% | -5.59% | $1.04B | $4.31M 60.14KQNT | ![]() 99.5% | |||
65 | ATOM Cosmos | $2.048 | +4.17% | +13.52% | $1.03B | $468.89M 67.47MATOM | ![]() ∞ | |||
66 | U United S... | $0.9996 | -0.02% | +0.00% | $1.03B | $11.32M 11.32MU | ![]() ∞ | |||
67 | ALGO Algorand | $0.1138 | +5.24% | +4.71% | $1.01B | $933.63M 459.72MALGO | ![]() 89.1% | |||
68 | POL POL (ex-... | $0.09264 | -2.97% | +3.38% | $984.67M | $56.97M 616.39MPOL | ![]() ∞ | |||
69 | ENA ENA | $0.1084 | -1.29% | -10.01% | $948.87M | $148.69M 1.36BENA | ![]() 58.4% | |||
70 | RENDER Render N... | $1.793 | -1.33% | -1.65% | $929.35M | $23.08M 12.83MRENDER | ![]() 80.5% | |||
71 | KAS Kaspa | $0.03363 | -1.59% | -2.13% | $919.99M | $10.18M 302.14MKAS | ![]() 95.4% | |||
72 | JITOSOL Jito Sta... | $109.94 | -0.24% | -0.64% | $918.48M | $174,082.4 1.58KJITOSOL | ![]() ∞ | |||
73 | BNSOL Binance ... | $95.7 | -0.32% | -0.73% | $910.17M | $177,761.23 1.86KBNSOL | ![]() ∞ | |||
74 | NEXO Nexo | $0.9078 | +0.91% | +0.37% | $902.15M | $4.65M 5.14MNEXO | ![]() 100% | |||
75 | LSETH Liquid S... | $2617.93 | +9.07% | -3.40% | $864.12M | $1,349.45 0.52LSETH | ![]() ∞ | |||
76 | WLD Worldcoi... | $0.2613 | -1.07% | -5.98% | $860.47M | $251.94M 957.74MWLD | ![]() 32.9% | |||
77 | GT Gatechai... | $7.33 | -0.41% | +1.80% | $845.26M | $2.66M 363.75KGT | ![]() 38.4% | |||
78 | ARB Arbitrum | $0.13 | -0.56% | +1.25% | $799.25M | $477.87M 3.67BARB | ![]() 61.5% | |||
79 | LBTC Lombard ... | $77919.3 | -0.77% | +1.75% | $798.75M | $10,966.04 0.14LBTC | ![]() ∞ | |||
80 | FIL Filecoin | $0.9442 | +0.36% | -1.61% | $729.97M | $169.1M 177.62MFIL | ![]() ∞ | |||
81 | AIM AI.Meta | $0 | +0.00% | +0.00% | $697.1M | $0 184.74MAIM | ![]() 100% | |||
82 | JST JUST GOV | $0.03349 | +0.00% | +0.00% | $688.42M | $23.78M 296.95MJST | ![]() 86.3% | |||
83 | FLR Flare | $0.007908 | -0.26% | -3.81% | $678.96M | $2.08M 263.46MFLR | ![]() ∞ | |||
84 | METH Mantle S... | $2531.3 | +0.70% | -4.16% | $670.92M | $153,184.9 60.70METH | ![]() ∞ | |||
85 | TRUMP Official... | $2.842 | -1.94% | -2.78% | $662.23M | $347.65M 115.84MTRUMP | ![]() 23.2% | |||
86 | APT Aptos | $0.9698 | +0.72% | +1.53% | $651.62M | $66.12M 67.89MAPT | ![]() 57.5% | |||
87 | STABLE Stable | $0.03153 | -4.26% | +21.58% | $645.72M | $7.16M 216.88MSTABLE | ![]() ∞ | |||
88 | TBK Tronbank | $0.642 | -0.57% | +0.25% | $642M | $6,645.47 10.28KTBK | ![]() 10% | |||
89 | LGNS Origin W... | $3.8514 | +13.38% | -15.32% | $640.88M | $60.8M 15.79MLGNS | ![]() ∞ | |||
90 | VET VeChain | $0.007364 | +0.21% | +2.74% | $633.34M | $26.19M 2.14BVET | ![]() 99.2% | |||
91 | GOYIM GOYIM | $0.000605 | +0.00% | +0.00% | $604.99M | $0 0.00GOYIM | ![]() 100% | |||
92 | XDC XDC Netw... | $0.02996 | -1.74% | -2.51% | $598.34M | $16.49M 546.69MXDC | ![]() ∞ | |||
93 | BONK BONK | $0.0{5}6275 | -2.46% | +0.83% | $551.89M | $38.35M 6.08TBONK | ![]() 100% | |||
94 | MXN MXN | $0.05484 | +0.03% | -0.60% | $549.7M | $62,157.11 1.13MMXN | ![]() 100% | |||
95 | JUP Jupiter ... | $0.173 | -1.20% | -5.78% | $547.47M | $11.03M 63.41MJUP | ![]() ∞ | |||
96 | PENGU Pudgy Pe... | $0.008607 | -1.27% | +14.88% | $541.17M | $106.28M 12.41BPENGU | ![]() 70.7% | |||
97 | CHZ Chiliz | $0.04906 | +1.84% | +19.30% | $506.96M | $40.97M 842.27MCHZ | ![]() ∞ | |||
98 | CAKE PancakeS... | $1.511 | -0.26% | -1.97% | $494.78M | $24.69M 16.07MCAKE | ![]() 81.9% | |||
99 | TUSD TrueUSD | $1.0003 | -0.02% | +0.13% | $494.52M | $4.96M 4.96MTUSD | ![]() ∞ | |||
100 | FET Fetch.ai | $0.2088 | -0.95% | -7.49% | $471.71M | $32.24M 152.65MFET | ![]() 83.2% |

























$4.26M
$1.29M









