Token Events

What to know: Direct RWA token exposure doesn't work. The economic value from tokenization accrues to curators and issuers, not governance tokenholders - Kamino's 80% deposit growth alongside a 16% token decline is the cleanest proof of this. The leverage problem is the most interesting

Retail investors are reportedly the largest cohort in Strategy’s high-yield, low-volatility “Stretch” shares, which have been used to buy more than $1 billion worth of Bitcoin this year.  Around 80% of the owners of Strategy’s “Stretch” perpetual preferred shares (STRC) are owned by retail, said St

Strategy创始人Michael Saylor透露，公司发行的永续优先股STRC约80%由散户持有，年化收益率约11.5%。该产品旨在作为低波动收益工具，计划筹资420亿美元。随着STRC需求增长，Strategy的比特币配置能力有望增强。

GameStop 在2025財年年報中揭示，其所持的4,710枚比特幣中，4,709枚已質押以支持備兌看漲期權策略，旨在賺取期權溢價。此策略使其改變會計分類，將比特幣視為應收帳款，而非直接持有，增加流動性但降低了市場控制權。若比特幣價格超過行使價，則需交付比特幣，呈現高風險。

Michael Saylor把Strategy转型为全球最大企业级比特币持有者，持有762,000枚BTC。他在数字资产峰会上介绍了低波动、高收益的优先股产品STRC，收益率11.5%，波动率约2%，旨在吸引机构资金流入比特币，弥补加密资产配置不足的问题。

Michael Saylor在纽约数字资产峰会上提出“数字信贷”概念，强调其在加密行业的重要性。他介绍了STRC优先股产品，收益率11.5%、波动率2%，并称其为吸引力极大的信贷工具。同时，机构资金正通过受监管渠道流入比特币，显示对加密资产的关注上升。

Cardano shows mixed signals; while institutional interest grows with significant tokenization and clear regulatory recognition, ADA's price remains weak. Yet, early data from the USDCx rollout reveals promising activity, indicating steady growth in liquidity and DeFi engagement, suggesting that fundamental improvements may eventually reflect in the price.

Tokenless projects with genuine products and user bases have garnered over $2.7 billion from top VCs. The market reacts strongly when they issue tokens. Seven notable projects include Polymarket, MegaETH, KAST, Nansen, Chaos Labs, Gensyn, and Agora.

Gate News 消息，3 月 26 日，Strategy 首席执行官 Phong Le 在 X 平台发文披露公司股票持有结构。数据显示，约 40% 的 Strategy 股票由散户持有，而 STRC 散户持股比例高达约 80%。Phong Le 表示，散户投资者倾向于低波动、同时提供高收益的数字信贷产品，这类资产在当前市场环境下受到高度关注。

Resolv Labs 更新了非法铸造USR供应量减少的情况，约4600万枚USR已被销毁或列入黑名单。攻击者的关联钱包中不再有可转移资产，已采取多项措施防止进一步流通。

Resolv Labs 于 3 月 26 日发布消息，非法铸造的 8000 万枚 USR 中已有约 4600 万枚被销毁或列入黑名单。攻击者的资产已无法转移，采取的措施包括销毁和合约升级，以减少 USR 的非法供应。

BONK (BONK) reported a 2% increase on Wednesday, marking its third consecutive gain. The project introduced a daily $7,000 incentive program to boost new token launches and aims to revive the "bagworking" culture in the memecoin community. Despite recovery signs, long-term downward pressure remains.

The essay discusses the need for "Verifiable Privacy" in professional trading, highlighting Umbra's unique technical approach and performance-based tokenomics. It notes the privacy sector’s strong growth and upcoming catalysts for Umbra’s expansion.

Pi Network 本週報價回落約37%，未能突破0.20美元關鍵阻力。供應端壓力增大，包括大規模代幣解鎖及交易所儲備上升，而需求疲弱則表現為交易量下降。短期內，技術面指標偏空，0.17美元為多頭防線，如破則可能進一步下探至0.15美元。整体市場情緒受地緣政治影響，反彈需成交量支持。

立陶宛电子货币机构 Newrails 于 3 月 26 日在 Monad 平台推出符合 MiCA 标准的欧元稳定币 EURW，支持 1:1 欧元储备，可自由兑换，旨在为 Web3 和支付开发者提供稳定币基础设施。

PRL（Perle Labs）近日价格上涨66.68%，现报0.21美元，市值约3731.4万美元。Perle Labs专注构建AI基础设施并启动多项利好活动，包括主流交易所上线和代币申领，促进市场流动性与社区参与。

Gate News 消息，3 月 25 日，GMX DAO 在 X 平台宣布，3 月 18 日至 24 日期间以约 12 万美元回购 18,500 枚 GMX，平均价格约为 6.49 美元。自 3 月 5 日启动回购计划以来，GMX DAO 累计回购 48,280 枚 GMX，总投入约 32 万美元，综合平均价格约 6.63 美元。

Gate News 消息，3 月 25 日，Resolv 基金会宣布，鉴于近期 Resolv Labs 稳定币 USR 发生安全事件，协议和应用均已暂停，Season 4 空投领取功能暂时无法使用，RESOLV 代币的质押和解质押功能也暂时无法使用。一旦协议恢复计划最终确定，且应用可以再次安全使用，相关功能将会恢复。

_Hyperliquid burns $1B in tokens and integrates Ripple Prime, while reporting $1.4M daily fees and expanding trading markets._ Hyperliquid has announced a major supply reduction alongside a new institutional access route. The network confirmed a governance-approved burn of about $1 billion in