Finishing: Mars Finance
Mars Crypto Daily April 24, 2024
1. Today's news
According to rwa.xyz data, the number of addresses holding stablecoins has grown to a record high of 93.6 million this year. There are currently 35 stablecoins with a total market capitalization of $157 billion. Among all stablecoins, Tether (USDT), the leader with a market cap of $114.07 billion, occupies more than 80% of stablecoin addresses, followed by USDC and BUSD.
Crypto KOL Benson Sun posted on the X platform that Bitcoin has returned to above $66,000, but the contract open interest of altcoins is lower than that of Bitcoin at $40,000, and after a sharp decline from April 13 to April 14, this round of bull market copycat leverage may have been very thoroughly cleaned, and the copycat season may be coming.
According to The Block, the U.S. Securities and Exchange Commission has said it is delaying a decision on Grayscale's application to convert an Ethereum trust into an ETF.
The U.S. Securities and Exchange Commission (SEC) is soliciting public comment on a revised version of BlackRock's proposed spot Ethereum exchange-traded fund (ETF). BlackRock proposed the ETF in November 2023 with the aim of tracking Ethereum price performance. The SEC postponed its decision on the proposal in January, and on April 19, Nasdaq proposed amendments to the proposal, with the revised document discussing the ETF creation and redemption process. "The Commission issued this notice to solicit comments from interested parties on the proposed rule change, as modified by the First Amendment," the SEC said in a filing Tuesday. The SEC said the comments will be posted on the SEC's website within 21 days.
Grayscale filed documents with the SEC to apply for registration of Grayscale Ethereum Mini Trust Fund (proposed code: ETH). The fund, which will be created through a spin-off and asset distribution from the Grayscale Ethereum Trust (OTCQX:ETHE), is planned to be listed on NYSE Arca, subject to regulatory approvals. Craig Salm, Grayscale's chief legal officer, said that if approved, the new Grayscale Ethereum Mini Trust will be launched as a low-fee spot Ethereum ETF. At the same time, a portion of ETHE's Ethereum will be used to "seed" the new fund, and ETHE's shareholders will receive a proportional share of the new ETF. This spin-off is not expected to have a taxable event for ETHE and its shareholders.
According to people familiar with the matter, FTX's bankruptcy administrator (FTX estate) plans to auction an unknown amount of SOL again this week, and take the form of a "blind auction". The deadline for the auction is Wednesday, and the results will be announced on Thursday. In its most recent monthly operating report, FTX disclosed that it sold about $307.6 million in SOL and ZBC tokens in March. The results of April's sales have not yet been announced. A spokesperson for FTX estate declined to comment. Potential bidders include Figure Markets, Pantera Capital, and Abra.
Grayscale Ethereum Trust intends to list on NYSE Arca under the symbol "ETHE."
BitMEX co-founder Arthur Hayes has written that the crypto bull market has only just begun, and investors should boldly turn to the left and increase their positions.
Hayes noted that 2024 is a critical year with multiple major countries holding presidential elections. In the United States in particular, the current ruling Democratic Party will be re-elected at all costs in order to reverse the Republican Party's policies. And in an election year, if the population feels like the economy is in recession, the probability of a re-election of the incumbent president will drop from 67% to 33%. Therefore, the easiest way for the ruling party to control monetary and fiscal policy is to increase government spending sharply, driving up nominal GDP growth and creating the illusion that there is no recession.
The data shows that the U.S. government already spends 23% of nominal GDP, which means that as long as the government is willing to borrow money, nominal GDP can do whatever it wants. According to the forecasts of the Congressional Budget Office (CBO), whether Biden or Trump takes office, the fiscal deficit of the US government will continue to expand in the future. In addition, the geopolitical conflict around the United States is escalating, and politicians are happy to continue to provide billions of dollars in aid to allies.
Hayes stressed that as long as the government can borrow at an interest rate lower than nominal GDP growth, politicians will continue to increase spending. Therefore, in the future, the scale of currency printing will only be more exaggerated. He advises investors to take advantage of the recent crypto price pullback and build up their positions slowly. And with the arrival of summer in the northern hemisphere, the volatility of the crypto market will also decrease, which is an excellent time for non-presale round investors. Unless real interest rates turn positive, investors should remain optimistic and let the winners run wild.
According to official sources, Renzo announced that the protocol will begin its decentralization process on April 30, 2024, marked by the launch of the native token REZ.
The Renzo Season 1 incentive will end on April 26, and users who sell their ezETH holdings before this date may not be eligible for the airdrop. Users can pick up their REZ on May 2 through the official claim website.
The official will distribute 500 million REZ (5% of the total supply) linearly based on the user's accumulated ezPoints, and the top 5% of addresses will have 50% of the tokens unlocked immediately at TGE, and the rest will be released linearly within 6 months.
In addition, 2% of the 5% airdrop in the first quarter (i.e., 0.1% of the total token supply) has been distributed to the following NFT communities: Milady Maker and SchizoPosters. The second season of incentives will kick off on April 26.
Unclaimed REZs will be used for the second quarter of the campaign for one month from the date of opening eligibility.
Crypto exchange Crypto.com has decided to postpone the April 29 launch of its app for retail users in South Korea due to unannounced on-site inspections by South Korean regulators on anti-money laundering compliance issues.
South Korea's World Journal reported that South Korea's Financial Intelligence Unit (part of the Financial Services Commission) found a problem with the anti-money laundering data submitted by Crypto.com and began an on-site inspection of the exchange on Monday.
In response, Crypto.com said in a statement to CoinDesk that the company maintains the highest anti-money laundering standards in the industry. Crypto.com will postpone its go-live plans in South Korea as an opportunity to ensure that Korean regulators are aware of the company's comprehensive policies, procedures, systems and controls, which have been reviewed and approved in key jurisdictions around the world.
In 2022, Crypto.com has received approval from South Korean regulators. After acquiring Okbit, Crypto.com has not onboarded any new customers in South Korea to date, and the access of existing Okbit customers is limited to withdrawals, and the platform has never been named for any anti-money laundering violations.
Bakkt announced that the Company will conduct a 1-for-25 reverse stock split, subject to approval by the Company's shareholders and Board of Directors, with the aim of increasing the share price to meet the NYSE's listing requirements. The split will become effective on April 29, 2024 and will apply to both Class A and Class V common shares.
Following the reverse split, the Company will continue to comply with exchange regulations and Class A common stock and public warrants will continue to be listed on the NYSE under the symbols "BKKT" and "BKKT WS", respectively. Following the reverse stock split, the Company's Class A common stock will have a new CUSIP number (05759B 305) and the CUSIP number of the Company's public warrants will not change.
Avail, a Polygon modular blockchain project, has announced the launch of the Turing testnet on Platform X, Avail's final pre-mainnet testing environment focused on review deployments, stress testing, and scalability assessments. Turing is closest to the Avail DA mainnet and will work alongside the mainnet as the main testnet for Avail. Avail advises blockchain developers to start testing on Turing to ensure that the mainnet is ready. In addition, the Goldberg testnet will be deprecated at some point in the future.
World Assets, the Worldcoin Foundation's subsidiary responsible for the token offering, will sell up to 1.5 million WLDs worth approximately $8.2 million per week through a series of "private placements to select institutional trading firms operating outside the United States," according to a blog post on April 23.
"World Assets expects to sell an average of 500,000 to 1.5 million WLDs per week," Worldcoin wrote. As a result, the circulating supply of WLDs will increase accordingly. ”
According to CoinGecko, adding up to 1.5 million WLD tokens per week for six months equates to adding 36 million new tokens to the market, which is currently worth about $197 million.
Renzo said in a post on the X platform that with the successful upgrade to the EigenLayer M2 contract, the Renzo team has prioritized working with a number of audit firms to prepare for mainnet withdrawals, and the relevant audit is expected to be completed by the end of May.
Investors created the Telegram group "ZKasino Legal Task Force" to sue the co-founder of ZKasino for allegedly misappropriating nearly $33 million in Ethereum from users to exchange for their native token. The controversy began on March 23 when ZigZag Exchange founder Kedar Iyer published an article on platform X stating that ZKasino's co-founder, Monke, used ZigZag's funds to launch ZKasino. BlackDragon revealed in an April 23 article that they had planned to invest in ZKasino. However, BlackDragon's due diligence team said the investment did not go through due to the poor response of ZKasino team members to revealing their identities.
In addition, user Cygaar pointed out that ZKasino's blockchain technology is not as advertised and is only a quick build based on Arbitrum Nitro. At the moment, the distribution of ZKAS tokens is still unclear, and investors who purchased ZKAS during the presale have not yet received their tokens.
CZ should be sentenced to 36 months in prison and pay a $50 million fine after pleading guilty to violating the Bank Secrecy Act last November, Justice Department lawyers said in a sentencing memo filed Tuesday evening.
Previously, according to court documents, U.S. prosecutors sought a 36-month prison sentence for former Binance CEO CZ. CZ will hear verdict in the U.S. District Court for the Western District of Washington on April 30, when Judge Richard Jones will hear from prosecutors and CZ's lawyers.
The Starknet Foundation issued a document on the X platform stating that it will reissue STRK airdrops for 3 types of user groups, including:
- Pooled stakers: The Foundation said it initially intended to distribute STRK to eligible pooled stakers through user-used staking protocols, and while many staking protocols are unable to complete their assigned tasks, currently supported protocols or entities include: Lido, Rocket Pool, BloxStaking, SharedStake, stakefish, Consensys, and Ankr Staking. Pooled stakers who have staked through the above protocols and have been identified by the Starknet Foundation as eligible for Provisions will be able to claim STRK directly through the Provisions portal.
- StarkEx users who are mistaken for VeVe users: Immutable users who are identified as non-VeVe users in the update list received by the Foundation from Immutable will be able to claim STRK through the portal.
VeVe users: Ongoing discussions are underway with VeVe regarding token distribution.
The official website of the Securities and Futures Commission of Hong Kong has listed the Bitcoin and Ethereum spot ETFs of ChinaAMC, Bosera and Harvest, all of which are authorized on April 23, 2024, and the relevant funds are not derivatives funds, including:
1. ChinaAMC Bitcoin ETF (BUU163), stock codes 03042, 09042, 83042;
2. ChinaAMC Ethereum ETF (BUU164), stock codes 03046, 09046, 83046;
3、博时 Hashke 比特币 Atof (bo104)#,股份代号 03008、09008;
4. Bosera HashKey Ethereum ETF (BUU105), stock code 03009, 09009;
5、嘉实比特币现货 ETF (BUT244) ，股份代号 03439、09439；
6. Harvest Ether Spot ETF (BUU885), stock codes 03179, 09179.
According to SolanaFloor's post on platform X, Solana's congestion problem has been completely resolved, block output has returned to normal, and transactions are confirmed within 2 seconds. Previously, Mert Mumtaz, CEO of Solana's ecological development platform Helius, said that if everything goes well, the Solana mainnet v1.18 version (used to solve the current congestion problem on the mainnet) is scheduled to be released on May 27.
DODO posted on platform X that the DIP 18 governance vote on the proposal "Migrate 200 million DODO to DODO Chain and redirect future protocol revenue to the treasury" will open at 16:30 today and end at 16:30 on April 27. Previously, DODO launched the Layer 3 network DODOChain, which is powered by Arbitrum, EigenLayer, and AltLayer.
Aevo posted on the X platform that Epoch 7 is on. This week, it will issue 400,000 AEVO to active Aevo traders, including perpetual contracts and options, and will issue 200,000 AEVO to AEVO stakers. Starting April 26, users will be able to claim Epoch 6 rewards.
According to Dune data, EigenLayer's real-time deposit amount ranking shows that the three addresses of Justin Sun, including 0x176, 0xdC3, and 0x79ac, currently occupy the 2nd, 3rd, and 4th places in the rankings, respectively.
此前消息,2 月 8 日孙宇晨曾将 Lido 中所有的 wstETH(109 327 枚)解封为 stETH,随后转移至 0xdC3、0x79ac 等两个新地址并存入 EigenLayer;2 月 9 日孙宇晨再次通过 0x176 地址向 Puffer Finance 质押 58000 枚 stETH,向 EigenLayer 存入 104001 枚 stETH。
According to official information, the two virtual asset spot ETFs jointly applied by Bosera Fund (International) Co., Ltd. and HashKey Capital Limited have been officially approved by the Hong Kong Securities and Futures Commission (SFC). Previously, according to Bloomberg, a spokesperson for HashKey said that the spot Bitcoin and Ethereum ETFs jointly issued by HashKey Capital and Bosera International will be open for trading on April 30. It is reported that the two ETFs are expected to be listed on the Hong Kong Stock Exchange, tracking Bitcoin and Ethereum prices respectively, and adopting a "physical" subscription mechanism, allowing investors to directly use Bitcoin and Ethereum to subscribe for ETF shares.
Harvest Global Investments Limited announced today that its Bitcoin Spot ETF and Ethereum Spot ETF have been officially approved by the Hong Kong Securities and Futures Commission (SFC) and are expected to be officially listed on the exchange by the end of April. The two ETF products submitted by Harvest International have lowered the barrier to entry and provided the option of physical subscription and redemption, increasing market transparency and investment flexibility. These products enable investors to invest directly with Bitcoin or Ether and are expected to attract more investors to participate.
ChinaAMC (Hong Kong) announced today that ChinaAMC Bitcoin ETF and ChinaAMC Ethereum ETF have been approved by the Hong Kong Securities and Futures Commission (SFC) for issuance on 29 April 2024 and listing on the Hong Kong Stock Exchange on 30 April 2024. This is the first time such products have been launched in the Asian market, and they are designed to provide investment returns (before fees and expenses) that closely follow the spot prices of Bitcoin and Ethereum.
"ZKasino doesn't have any ZK technology involved, except that it runs on the zkSync chain, right? I think we'll have to adapt, and even ZK has become a mainstream bumbword enough now that scammers are adopting it," Vitalik Buterin said in a post on the Warpcast platform. ”
According to IntoTheBlock, stETH is the dominant address's liquid staking token, with 86.64% of the staking share and 69% of the LST trading volume share.
2. Selected articles
RGB++ is the latest innovation of the CKB network, which binds Bitcoin UTXO to Cell on the CKB chain through a homogeneous binding mechanism, achieving a monthly increase of more than 300%. It has advantages such as non-interactivity, transaction folding, and direct interoperability, and leverages the CKB technology platform to enable direct interaction between Bitcoin assets and CKB on-chain assets.
The cryptocurrency market continues to run bullish, with people maintaining the purchasing power of their wealth by selling fiat currencies for cryptocurrency. The government promotes nominal GDP growth through the issuance of bonds, but it also leads to improper investment. Politicians artificially lower yields by printing money and buying Treasury bonds by central banks, so that the public's savings can be put into low-yielding government debt.
This article shares 10 charts that show how the cryptocurrency market is trending. Bitcoin remains dominant, has a low correlation with traditional assets, and an increased supply of stablecoins. Bitcoin is performing well after the halving, and Ethereum is also in a bull market cycle, with weekly active address growth. Overall, the cryptocurrency market is still in a bull market, with prices rising sharply, but there is still room for growth.
3. Project interpretation
Binance has announced the launch of Renzo, a new coin mining project that allows users to earn EZ rewards with BNB and FDUSD stakes for 6 days. EZ will be listed on April 30 using the seed tag trading rules. Renzo is a liquidity re-staking protocol based on EigenLayer, which solves the problem of ETH liquidity being locked after re-staking.
The ZKasino project has been accused of fraud, and the announced ecosystem fund may never be paid. The team was accused of defaulting on its payments, and the official announcement was that it had closed a $350 million funding round, but the valuation may be fake. The project took advantage of lucrative conditions to attract well-known KOLs, but was accused of blindly believing it. Users participated in rights protection, and investment institutions and KOLs were strongly dissatisfied. As early as December last year, the founder of the project was exposed to false propaganda and malicious order evasion. Before investing, you should carefully choose credible institutions and KOLs to avoid phishing risks. Identifying danger is the first step in entering the crypto circle.
Renzo announced the token distribution rules, causing dissatisfaction in the community. The price of the certificate of deposit token ezETH plummeted, with a minimum of $1,600. Depositors can claim REZ on May 2, but only 5% will be allocated, half of which will be locked. Large households are affected, and small households are benefited. Depositors feel let down and feel that the distribution ratio is unfair. During the de-anchoring period, someone successfully bought the bottom, but the window of opportunity was short. As of press time, the ezETH anchoring situation has improved.
4. Investment and financing
According to the official announcement, Binance will update the Renzo code from EZ to REZ, Binance will be the first platform to list this token, and trading will open on April 30, 2024 at 20:00 (East 8th District Time). Binance said that following the announcement of Renzo's Launchpool, there was some confusion in the community as another project in the market was also using "EZ" as a code. Therefore, Binance has negotiated with the Renzo project team to update Renzo's code from EZ to REZ with immediate effect.
Prime Intellect, a decentralized AI platform and protocol, has closed a $5.5 million seed round led by Distributed Global and CoinFund, with participation from Compound and a number of angel investors, with the new funds going to be used to build a computing platform, enable decentralized training across instances, and enable co-ownership of AI models by contributing compute, code, data, capital, or expertise.
Decentralized AI company Prime Intellect raised $5.5 million in seed funding, led by CoinFund and Distributed Global. Prime Intellect is building a scalable decentralized AI development infrastructure, with plans to create a decentralized protocol to enable ownership of collaboratively trained AI models.
AI data infrastructure AIT Protocol announced the closing of a new funding round with participation from Animoca Brands. At the same time, the two companies have entered into a partnership that will accelerate the development of AI technology within AIT Protocol, drive innovation, and expand the possibilities of native applications. One of the main goals of the collaboration is to solidify AIT Protocol's leading position in the field of artificial intelligence and strengthen its role as a pioneer entity for subnet operations on the Bittensor Network.
加密钱包初创公司 Turnkey 宣布完成 1500 万美元 A 轮融资，Lightspeed Faction 和 Galaxy Ventures 领投，红杉资本、Coinbase Ventures、Alchemy、Figment Capital 和 Mirana Ventures 参投。
![Rich celebrities have contributed to Hong Kong, mainland tycoons donated 100 million, and Guo Jingjing's husband has not yet expressed his position[fig]](data:image/gif;base64,R0lGODlhAQABAIAAAP///wAAACwAAAAAAQABAAACAkQBADs=)