In the past hour, total liquidations across the network reached $13.25 million, with $2.70 million from long positions, with $10.54 million from short positions. BTC liquidation $7.18 million, ETH liquidation $1.41 million.

According to Coinglass data, the current average funding rate for ETH across the entire network over the past 8 hours is 0.0056%. Among major exchanges, Binance's rate is 0.0087%, OKX's is 0.01%, Bybit's is 0.0028%, and Gate's is 0.01%.

According to Coinglass data, the current average funding rate for Bitcoin across the entire network over the past 8 hours is 0%. Among major exchanges, Binance's rate is 0.0037%, OKX's rate is -0.0026%, Bybit's rate is 0.0025%, and Gate's rate is 0%.

Huoxun Finance reports that a Swiss initiative to include Bitcoin in the country's central bank's official reserves has failed due to insufficient signatures. The initiative, which aimed to amend the Swiss constitution to require the Swiss National Bank to hold BTC reserves in addition to gold and foreign exchange reserves, required 100,000 valid signatures within 18 months to trigger a national referendum. Ultimately, only about half of the target was reached, leading to its abandonment. Supporters had touted Bitcoin as a "neutral reserve asset" that could hedge against the risks of dollar and euro reserves, which currently account for about three-quarters of the Swiss National Bank's foreign exchange reserves. However, the Swiss National Bank explicitly opposed the proposal last year, arguing that Bitcoin's liquidity and volatility did not meet the requirements for a central bank reserve asset.

According to a research report released by Binance, emerging market users now account for 77% of the platform's total users, a significant increase from 49% in 2020. The report points out that more and more users are using crypto exchanges for savings, payments, and investments, no longer limiting themselves to trading. Binance notes that globally, 1.3 billion adults still lack access to financial services, 4.7 billion adults lack access to credit, and approximately 1.4 billion depositors in low-income countries do not earn interest on their savings. Crypto platforms are filling the gaps in traditional financial services. The report also shows that approximately 36% of emerging market users allocate at least half of their assets to stablecoins. Stablecoins are being seen as a savings tool, with cross-border transfer costs as low as $0.0001, enabling near-instant settlement, a significant advantage compared to the average cost of over $20 for traditional SWIFT cross-border remittances.