TermMax Daily Topic: From trading markets to interest rate markets, early crypto markets, the core is price. Price fluctuations determine everything, but the core of a mature financial system is interest rates. Interest rates determine valuation; interest rates determine financing; interest rates determine capital flows; when sustainable fixed income structures appear on the chain, capital focus will gradually shift: from "how much the coin rises" to "what is the yield."
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TermMax Daily Topic: From trading markets to interest rate markets, early crypto markets, the core is price. Price fluctuations determine everything, but the core of a mature financial system is interest rates. Interest rates determine valuation; interest rates determine financing; interest rates determine capital flows; when sustainable fixed income structures appear on the chain, capital focus will gradually shift: from "how much the coin rises" to "what is the yield."