Mars 财经加密Crypto Daily January 4, 2024
1. Today's news
Eric Balchunas, an ETF analyst at Bloomberg, said in a social media post that if the SEC intends to continue to delay or reject the Bitcoin spot ETF decision, it will not hold meetings with major exchanges (NASDAQ, Chicago Board Options Exchange, NYSE) to determine the comments on the 19b-4s submitted by the issuers of the Bitcoin spot ETF. The SEC has been in close contact with issuers offline to refine their 19b-4s, rather than doing a lot of refiling like the S-1s. As previously reported, Fox reporter Eleanor Terrett posted on social media that the SEC is holding a meeting with exchanges today to finalize comments on 19b-4s submitted by Bitcoin spot ETF issuers.
According to two people familiar with the matter, Goldman Sachs looks likely to play a key role in the Bitcoin ETF that BlackRock and Grayscale hope to launch in the United States, according to two people familiar with the matter. The company is in talks to become an authorized participant (AP) in exchange-traded funds. This is one of the most important jobs in the trillion-dollar ETF industry, and this position involves creating and redeeming ETF shares to ensure that the product is traded in sync with its underlying asset. Regulatory filings disclosed last week show JPMorgan Chase, Jane Street, and Cantor Fitzgerald as APs for several other Bitcoin ETF issuers.
Thanks to healthy price increases, the US federal government now holds at least $8.3 billion in bitcoin – less than three months ago it was $5 billion. Between November 2020 and 2022, U.S. authorities disclosed the confiscation of a total of 207,189 bitcoins (BTC) linked to the Silk Road darkweb marketplace, its hacker Jimmy Zhong, and the hackers of cryptocurrency exchange Bitfinex in three separate operations. Less than 5% of those seizures were sold, and in February last year, the government sold 9,861 BTC on Coinbase that once belonged to Silk Road. These transactions generated $215 million in revenue for the government, selling for an average of $21,800 per bitcoin, about half the current price. U.S. prosecutors at the time said they intended to sell the remaining Silk Road Bitcoin — 41,491 BTC — in four tranches over the next calendar year, worth $1 billion at the time and $1.8 billion today. This period will expire in two months. （Blockworks）
On January 4th, Arbitrum ecological game Layer3 XAI announced the details of the token airdrop, which will account for 5% of the total supply, with a total of 125,000,000 tokens. Among them, Vanguard NFT holders will receive 1,307 XAI per NFT, Legendary NFT holders will receive 290 XAI per NFT, and Sentry Node Operators will receive 1,658 XAI. Previously, Binance announced the launch of the 43rd project XAI of Launchpool.
The multi-chain lending protocol Radiant Capital said that the hack caused the protocol to generate bad debts in the WETH market, which accounted for about 1.3% of the protocol's TVL, and that the Radiant DAO Council suspended the lending market on Arbitrum, and has now developed a technical method to safely lift the suspension of the lending market on Arbitrum, which is being reviewed by OpenZeppelin, independent Ethereum researchers, and white hat hackers.
Radiant emphasizes that the protocol is solvent and will implement a bad debt remediation program to completely recapitalize the protocol and allow users to fully access their deposits. For users who are at risk of liquidation during the suspension period, the proposed plan will also be implemented to ensure that no user is unfairly penalized.
Saga, the Cosmos ecosystem's Web3 scalability protocol for automating the deployment of dedicated block spaces, will collaborate with 5 technology partners and the crypto community for token airdrops, followed by an announcement of airdrop eligibility criteria.
According to The Block Pro, the open interest in Bitcoin options decreased by 15.6% and the open interest in Ethereum options decreased by 5.5% in December 2023. The monthly trading volume of Bitcoin options increased by 17.3% to a record high of $37.9 billion, while the monthly trading value of Ethereum options increased by 5.9% to $15.3 billion.
According to The Block Pro, BTC miner revenue increased 21.7% month-over-month to $1.59 billion in December 2023, while ETH staker revenue increased 17.1% to $185 million. The average daily trading volume of GBTC, a grayscale bitcoin trust, increased by 63.4% to $195 million in December. A total of 127,110 ETH was burned in December, equivalent to about $286 million. Since the implementation of EIP-1559 in early August 2021, a total of 3.89 million ETH, or about $10.8 billion, has been burned. The trading volume of the Ethereum NFT platform increased by 39.8% to $780 million in December.
In addition, the spot trading volume of compliant CEXs increased by 34.5% to $598.7 billion in December. Binance has a market share of 72.3%, Coinbase has a market share of 11.7%, Kraken has a market share of 4.9%, and LMAX Digital has a market share of 3.2%.
According to data from The Block Pro, the adjusted total on-chain trading volume of Bitcoin and Ethereum increased by 29.1% month-on-month to $328 billion in December 2023, with the monthly trading volume of Bitcoin increasing by 34.4% and the monthly trading volume of Ethereum increasing by 21.6%. In December, the adjusted on-chain trading volume of stablecoins increased by 1.9% to $608 billion, and the issued supply increased by 0.57% to $120.8 billion, with USDT having a market share of 76% and USDC having a market share of 18.3%.
CoinGecko research data shows that among the top 100 tokens by market capitalization in 2023, BONK rose by 7302.9%, ranking first. Injective ranked second with an increase of 2,976.4%. Among them, Ethereum's gain was only 98.6%, much smaller than Bitcoin's 162.5%.
Sleepless AI announced the airdrop rules as follows: 1. All 20 Genesis NFT holders, the top 10 bidders, and participants in the staking program will receive AI; 2. Users who participate in the poll and check in more than 10 times per day will receive an airdrop to the top 100 users with the highest rank who pre-order the game. 1% of the total amount of Sleepless AI tokens will be used for airdrops, and additional reward programs will be announced in the next 1-2 days, where users who stake AI will receive an additional 2-5 million AI tokens as special rewards.
PancakeSwap tweeted that it has reduced its maximum supply of CAKE from 750 million to 450 million. From CAKE tokenomics v2.5 to the recent release of veCAKE, it marks that CAKE has entered a period of deflation.
According to a report released by Messari, the amount of funding in the fourth quarter of 2023 surged by 81% to $3.83 billion, and the number of transactions was 397, up 28% quarter-on-quarter, due to the steady growth of early-stage transactions and the significant spike in bitcoin mining transactions. This growth trend is highlighted by large deals such as Blockaid ($33 million Series A) and Ritual ($25 million Series A), driving the average deal size in Q4 to $8 million from $5.8 million in Q3.
According to Coinglass data, the open interest in bitcoin futures contracts across the network is 424,080 BTC (about $18.29 billion). Among them, the open interest of CME bitcoin contract is 116,520 BTC (about 5.01 billion US dollars), ranking first, and the open position of Binance bitcoin contract is 93,300 BTC (about 4.03 billion US dollars), ranking second.
According to the annual funding report released by CoinShares, the annual inflow of digital asset investment products in 2023 reached $2.25 billion, 2.7 times that of 2022 and the third largest year since 2017.
Bitcoin was the biggest beneficiary of improved investor sentiment, with inflows of $1.9 billion, accounting for 87% of total inflows.
Ethereum inflows picked up, reaching $78 million.
Meanwhile, Solana saw inflows of $167 million, or 20% of AUM.
Total assets under management (AuM) of crypto investment products reached $51 billion, up 129% year-over-year and the highest since March 2022.
In response to the "Matrixport report caused a crash", Wu Jihan posted again on the X platform: "This sudden incident slightly disrupted my vacation, and when I woke up, I found that Matrixport's analyst report was actually responsible for the market crash." The pot is heavy and not carryed. ”
Wu added: "Markus, an analyst at Matrixport, did not express conflicting views on the same day. He posted one opinion on Tuesday and the opposite on Wednesday. Our analyst did adjust his view. In this ever-changing market, it should be seen as a capability and advantage to calmly do 'today is not yesterday' and adjust your views in a state of 'turning your face faster than turning a book'. If you're a trader, you don't want to work with an analyst who is stubborn about what he saw yesterday. It is possible that he has realized that he was wrong yesterday, but he is too embarrassed to admit and tell you. Matrixport works with many talented analysts, and their ability to quickly change views continues to be highly appreciated by Matrixport's clients. ”
According to CertiK's monitoring, there have been flash loan attacks targeting Gamma Strategies contracts on the Arbitrum chain. Through price manipulation, the attackers obtained 1,535 ETH (worth about $3.43 million) and bridged it to Ethereum.
2. Selected Articles
The rise of bitcoin new bull coins, crypto analysts are bullish on bitcoin, spot bitcoin ETF approval deadline next Wednesday, April will usher in a halving, next year's interest rate cut is coveted by traders, but demand must be realized, and a rate cut will not automatically bring benefits.
Messari has released a 2024 research report covering DePIN x AI synergy, Coinbase market penetration, modularity and CelestiaTIA, Solana + Firedancer, Bitcoin, DeFi, sports betting and information markets, gaming + autonomous worlds, the bullish Ethereum narrative, and the DePIN ecosystem. Projects that combine AI and cryptocurrency include GPU shortages, transparency, and more, and the DAO will be benevolent, AI-powered protocol stewards.
The BRC20 indexer war sparked a BRC20 fork power fight, and Unisat insisted on following the Ordinals upgrade, but was opposed and criticized by BRC20 founder Domo in order to seize control of the protocol. There are three points of view in the crypto community: the coexistence, the freeze, and the upgrade. The BRC20 is at a crossroads, and whichever direction it ultimately chooses, it will have a profound impact on its future.
The arrival of Bitcoin ETFs will allow more investors and retail investors to legally buy Bitcoin, but the pricing power will be shifted from on-chain to off-chain, and computing power may also be transferred to the West, resulting in excessive concentration of chips, which may lead to an imbalance in the pricing mechanism. Under the positive sentiment of ETFs, the price of Bitcoin has fallen rapidly, and the computing power pricing system of miners has also been shattered, but will the power of PoW miners go into history?
Vitalik Buterin forwarded ENS's layer2 data parsing solution, which aims to reduce Ethereum's control over layer2 DAs, provide a more user-friendly user experience, attract more user traffic, and maintain the legitimacy of Ethereum mainnet DAs. ENS has designed a "layer bridge" that can communicate interactively, so that each layer2 can retrieve and effectively verify the domain name data of the Ethereum mainnet from the off-chain environment.
3. Project interpretation
MakerDAO's RWA serves as collateral to capture value, scale and grow to achieve its ambitious vision. Through Legal Wrapper, DeFi can "wrap" on-chain protocols or DAO organizations within a legal framework, so as to connect real-world interactions and capture the value of off-chain assets. MakerDAO realizes the value capture of off-chain assets through the governance system and legal structure of Foundation+ SPV or Trust, and MatrixDock and USDV provide an interest-bearing stablecoin path, where retail investors can deposit stablecoins in exchange for interest-bearing stablecoins.
XAI is the Arbitrum Orbit L3 public chain developed by Offchain Labs, with modules such as Nitro and BOLD, supporting multi-language development, dual token economic model, Ex Populus Studio is responsible for game development, and has reached strategic cooperation with Tencent, Animoca Brands and other enterprises, XAI is becoming a new star in the field of blockchain games, if the game ecology is successfully built, XAI's user base and commercial value will be geometrically improved.
NodeMonks and OnChainMonkey (OCM) are two new and well-known projects in the Bitcoin NFT project, OCM closed a $5 million seed round of financing, Fomojis, Bitcoin Boos, Pizza Ninjas, INK, Counterfeit and other popular projects have attracted the attention and popularity of ETH NFT players, Jack Butcher's PSD and Acid The Pepes market is doing well, and well-known NFT projects such as MATRICA: BLOCKS, Shadow Hats, Etcher and others are also worth paying attention to.
2024 will be a golden year for cryptocurrency airdrops, with projects such as Cosmos, Celestia, Injective, Osmosis, Aptos, Sui, Solana, Wormhole, LayerZero, zkSync, Linea, Manta Network, and Starknet all having airdrop opportunities where participants can earn good rewards. TVL's third-ranked L2 airdrop will also be coming, and participants can get nice rewards, it is recommended to join their Discord/Telegram to track the latest developments, and use their front-end trading to get airdrops.
4. Investment and financing
PowerPod, a DePIN track shared charging pile project, recently closed a $1 million seed round led by Waterdrip Capital, with participation from Iotex, Future Money Group, JDI Group, Future3 Campus and Wagmi Venture. The financing will be mainly used to strengthen hardware development and testing, verify the minimum closed-loop business model, and build a community ecosystem. PowerPod aims to build a globally open and connected charging network to help accelerate the global goal of low carbon emissions in mobility.
Binance Labs 已投资 Memeland 项目代币 MEME,具体投资金额未知。
Nubit, a Bitcoin data availability layer project, has completed an angel round of financing, with participation from Bounce Finance, domo, and others, and the specific amount of financing has not been announced. Nubit developer Riema Labs will partner with key industry players and participate in various blockchain initiatives.
Gelato, an Ethereum smart contract auto-execution tool, closed an extended round of funding led by IOSG Ventures
Xiao Ray, senior director of IOSG Ventures, disclosed on social media that Gelato, an Ethereum smart contract auto-executing tool, recently completed an extended round of funding, led by IOSG Ventures.