Finishing: Mars Finance
1. Today's news
Analysts: Bitcoin below $60,000 could trigger panic selling
FxPro trader Alex Kuptsikevich said there could be a panic sell-off if Bitcoin closes below $60,000 in the coming days. Crypto traders are aiming for Bitcoin to break above $65,000 before market sentiment is seen as bullish. In a note on Monday, Kuptsikevich said that Bitcoin's price action is characterized by a series of lower lows and lower highs, which signals signs that investors are selling when prices rise. "The pressure may be related to the asset sell-off of miners and concerns about tighter crypto regulation," he said. Kuptsikevich added: "Failures below $60,000 could trigger panic selling. In our opinion, a positive scenario will become the main one, with the price rising above $65,000, fixing the price at the 50-day moving average and the reversal zone at the beginning of May. ”（CoinDesk）
Managed service provider Liminal receives approval in Abu Dhabi to expand its operations in Asia
Representatives of Singapore-based hosting provider Liminal said in an interview on Monday that the company had received approval from regulators in Abu Dhabi. The company's First Answer Middle East subsidiary was previously licensed by the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority (FSP), allowing it to provide custody services in the region. The project received approval-in-principle last year. Over the past few weeks, Liminal has seen a range of positive regulatory developments in the Asia Pacific (APAC) and Middle East and North Africa (MENA) regions. At the end of last month, its Dubai-based entity, First Answer Custody FZE, received preliminary approval from the UAE's Virtual Assets Regulatory Authority (VARA); Liminal's Indian subsidiary, First Answer India Technologies, is also registered as a reporting entity.
Blockchain infrastructure company Blockdaemon has received approval from Abu Dhabi to set up a new office and entity in the country
Blockchain infrastructure company Blockdaemon said it will expand its operations in the UAE with new offices and entities in Abu Dhabi. In a May 13 announcement, the company revealed that its expansion plans had been approved by the local registry of the Abu Dhabi Global Market (ADGM). Part of the expansion plan is to operate and provide Web3 infrastructure solutions locally in the UAE, and also includes providing its node and validator infrastructure solutions in the region, as well as its self-custody MPC wallet technology.
Bitfinex's parent company, iFinex, has entered into a partnership agreement with El Salvador to establish a regulatory framework for digital assets and securities
According to official news, iFinex, the parent company of the itfinex exchange, announced a cooperation agreement with El Salvador to establish a regulatory framework for digital assets and securities. It is reported that iFinex is also responsible for advising the government of El Salvador on the issuance and promotion of digital asset transactions, including the issuance of "volcano bonds", the world's first digital bond backed by Bitcoin, which aims to build energy infrastructure for bitcoin mining.
Hong Kong Securities and Futures Commission: The relevant provisions of the Anti-Money Laundering Ordinance apply to the virtual asset industry
There is news that Hong Kong's "virtual currency to ETF" mechanism has caused money laundering concerns, and the industry said that it is very difficult to review the need for KYT (Know Your Token), and some people with mainland backgrounds are trying to "launder the amount of "virtual currency to ETF" transactions in small amounts, taking this opportunity to "launder" their own ether and bitcoin through head accounts and other forms, and have deployed some virtual currencies to Hong Kong's virtual currency exchanges, and will decide whether to increase capital in the future depending on the situation. In response to the relevant questions, the SFC stressed that in the operation of ETF products, every link of the entire virtual asset ecosystem, including fund houses, custodian banks, asset trading platforms, and participating securities firms, must be licensed or authorized institutions, and must strictly comply with the requirements of asset custody, liquidity, valuation, information disclosure, investor education, etc. The SFC's Anti-Money Laundering Ordinance also stipulates that financial institutions and designated non-financial enterprises and industry entities are required to comply with customer due diligence and record-keeping requirements, which apply to the virtual asset industry.
Swiss banking group Amina Bank: If Ethereum is identified as a security, the crypto team may withdraw from the industry
Swiss banking group Amina Bank said in its latest crypto market monitoring report that designating Ethereum as a security "would pose a significant risk to the entire crypto and DeFi ecosystem." Such a definition could lead to DeFi platforms that allow users to leverage crypto assets to be considered "unregistered brokers." In addition, cryptocurrency exchanges intending to list ETH will be required to register with the SEC in the United States. It added that the operational complexity caused by such a designation would force "most crypto teams to step out of the space." The report also warns that protocols that use PoS consensus could be forced back to PoW consensus if the SEC continues to state ETH as a security.
Bitcoin Suisse adds Starknet (STRK) trading and custody services
Bitcoin Suisse, a Swiss crypto financial services provider, has announced the addition of Starknet (STRK) trading and custody services to its platform. Bitcoin Suisse, a cryptocurrency service provider and cryptocurrency investment portal, is reported to have been founded in 2013 to provide brokerage, custody, lending, staking, payment solutions, and other crypto services to private and institutional clients.
Franklin Templeton CEO: Will work with Microsoft to provide blockchain and AI collaborative integration solutions
Jenny Johnson, CEO of Franklin Templeton, said in an interview that the company has a strategic partnership with Microsoft to leverage artificial intelligence (AI) to enhance customer engagement and portfolio management. She also emphasized the synergistic integration of blockchain and artificial intelligence, which is expected to provide personalized solutions to optimize operational efficiency in the global market. Jenny Johnson added that Franklin Templeton is evolving from a traditional asset manager to a company that has exposure to a wide range of investable vehicles to meet changing market needs.
The Bahamut Foundation announced the selection of three donation programs: Lolik, Mutuari and SilkSwap
The Bahamut Foundation launched the donation program Bahamut Grants last year, with 10 million FTN available for the program, according to the latest news, the Bahamut Foundation announced that Lolik, Mutuari and SilkSwap were selected for three donation programs, and it is reported that these three projects are DeFi projects, and these platforms have successfully passed all the qualification stages and are now live on the Bahamut blockchain, It will also increase the scalability and adaptability of Bahamut's native coin, FTN, and expand its availability and relevance.
The Solana Developer Forum initiated a discussion on a proposal to enable full priority fee rewards for validators on Mainnet-beta
According to the Solana Developer Forum, the "Proposal to Enable Full Priority Fee Rewards for Validators on Solana Mainnet-Beta" discussed and recommended adjusting the priority fee structure to "reward 100% of the priority fees to validators". The initiator of the discussion stated that the implementation of this proposal would require the use of functional gating. While there will be no change to the payment structure for transaction submitters, the software that includes this proposal will allocate a larger percentage of fees to validators than previous versions. Therefore, it is critical to ensure a smooth transition of all validators to the feature gate of the new feature at the epoch boundary to maintain consistency.
Ordinals founder: It is wiser to invest 90% of the investment funds in the Bitcoin L2 network than to invest in centralized Bitcoin startups
Ordinals founder Casey posted on Platform X that investing 90% of his investment funds on the Bitcoin L2 network may be more sensible than investing in an ordinary "centralized" Bitcoin startup.
He believes that decentralization is the best, but not everything needs or can be decentralized. Market forces and competition, while imperfect, can force companies to provide high-quality, reasonably priced goods and services that they would otherwise be replaced by those who can. Even imperfect market forces are a thousand times better than projects that are nominally decentralized or simply impossible to operate and will never implement.
SlowMist CISO: The first result of a Google search for BounceBit is a phishing website, users should be aware of the risks
SlowMist Chief Information Security Officer (CISO) 23pds posted on platform X that BounceBit will launch on the mainnet today and issue BB token airdrops, but Google's first search result is a phishing website, and clicking on it will jump to the phishing URL bouncbit[.] io, be aware of the risks.
Metaplanet, a Japanese listed company, has announced Bitcoin as its strategic reserve asset
Metaplanet, a publicly traded Japanese company, announced an announcement announcing a strategic transformation of its financial management. Metaplanet has turned to Bitcoin as its strategic reserve asset in response to Japan's ongoing economic pressures, particularly high levels of government debt, prolonged negative real interest rates, and the consequent weakness of the yen.
Metaplanet's strategy explicitly prioritizes a Bitcoin-first, Bitcoin-only approach, and may use long-term yen liabilities and regular stock issuance as strategic financial options to keep accumulating more Bitcoin rather than keeping the increasingly weak yen. This approach aims to increase the value of each Bitcoin share, consolidating shareholder value in the long run.
The Bangko Sentral ng Pilipinas (BSP) has approved PHPC, a stablecoin pegged to the peso
The Bangko Sentral ng Pilipinas (BSP) approves PHPC, a stablecoin pegged to the Philippine peso, with the aim of facilitating cost-effective remittances. Backed by cash and equivalents from Philippine banks, PHPC will initially be launched on the Coins.ph platform, with plans to expand to other platforms. PHPC will be a peso-backed, retail-ready stablecoin that offers round-the-clock real-time trading.
Bloomberg survey: Some see tech stocks as a new tool to fight inflation
According to the latest survey by Bloomberg Markets Live Pulse, some respondents said that multiple of the largest tech stocks in the U.S. are not just bets on innovative industries, but could also be a hedge against inflation. Forty-six per cent of respondents said gold, which has been a safe-haven option for decades, is still seen as the best protection against rising prices. But nearly a third said tech giants were their top pick. The reaction underscores the leading role played by companies such as Nvidia, Amazon, and Meta in the U.S. financial markets as they expand their influence in key sectors of the U.S. economy. This allows them to generate consistent profits, triggering a rally that convinces investors that they will continue to be a source of steady income.
Analysts: The combined market value of smart contract platforms could reach $15 trillion to $25 trillion by 2030
Former Bloomberg analyst Jamie Coutts CMT has released an analysis of AI and blockchain growth models on the X platform from the November 2023 Real Vision Pro-Crypto report. The report predicts that by 2030, the market for smart contract platforms will be worth between $15 trillion and $25 trillion due to the widespread use of AI agents. Coutts noted that while the impact of AI agents was relatively modest initially, AIagents could account for more than 40% of the total number of daily active users by 2030, significantly driving up the valuation of blockchain assets. In addition, he emphasized that while predictions based on historical regression cannot be accurate forever, in terms of direction, the value of the network will increase exponentially as the network expands. Even if the forecast is only 25% correct, the current market valuation will increase by 4 to 5 times.
CEO of Ripple: The next target for the U.S. government is Tether
Ripple CEO Brad Garlinghouse said in a recent interview that the next target for the U.S. government is Tether, the stablecoin company responsible for the circulation of the USDT stablecoin. Some experts believe that the statement of the CEO of Ripple is a very big insider report, and if it does happen, then there will be very strong selling pressure in the USDT stablecoin market, in which case the value of USDT will fall sharply.
Turkey is ready to develop a new encryption law to bring it into line with international standards
Turkey is preparing to submit a new law to parliament regulating crypto assets. The law, which aims to be in line with international standards and reduce the risks associated with cryptocurrency trading, will be strictly regulated by the Capital Markets Board for the licensing and operation of cryptocurrency trading platforms. It will also ensure the safe custody of assets, establish transparent platform and customer relationships, and clearly stipulate sanctions for violations. The draft legislation is expected to be submitted to parliament within a week. The initiative, which was strongly supported by Finance Minister Mehmet Şimşek, aims to remove Turkey from the "grey list" of financial crime regulators and improve its status under the Financial Action Task Force (FATF) criteria.
The South Korean won remains the second most traded fiat currency for Bitcoin
The latest data shows that despite the decline in the price of bitcoin, South Korea's premium has decreased, but it is still about $1,800 to $2,000 higher than the global weighted average price of bitcoin. Further indicators show that it accounts for 2.07% of the total spot trading volume of Bitcoin, second only to the US dollar.
Vice President of Ghana: Ghana will be the first blockchain-powered government in Africa
According to Africa Business Insider, Ghana's Vice President Mahamudu Bawumia said the next phase of the country's digitalization efforts will be the full adoption of blockchain technology in government operations, making it the first blockchain-powered government in Africa. Bawumia is confident that Ghana will adopt this technology as it will increase transparency and enable the government to effectively combat corruption.
Peter Schiff: The outflow of funds from the Bitcoin spot ETF will put significant downward pressure on Bitcoin
Gold advocate and economist Peter Schiff expects gold and silver prices to see explosive gains, encouraging investors to "capitalise on what could be the biggest bull market in precious metals in history". Peter Schiff also reiterated his pessimistic view of Bitcoin. He said that Bitcoin is dead money. Sell it before it is buried. When the Bitcoin (spot) ETF was launched four months ago, there were no sellers, only buyers. But now that many investors hold these ETFs, there is a large supply of potential sellers. But as demand from new buyers decreases, outflows from ETFs will soon put significant downward pressure on Bitcoin.
The approval of the Hong Kong crypto ETF has given Bitcoin Asia attendees their sights set on the mainland
The Bitcoin Asia conference recently attracted thousands of Bitcoin fans to Hong Kong, where a spot Bitcoin ETF was recently approved. Hong Kong's enthusiasm for cryptocurrencies has led some attendees to look to the mainland, which has banned cryptocurrencies since 2021.
Two. Featured Articles
How bumpy is a bull market, why shouldn't you be bearish now?
Bitcoin production halved, Trump went crazy, investors suffered, bull market volatility, return to quality assets or infrastructure VC tokens screwed up, issuance strategies were stupid, retail investors lacked buyers, markets returned to quality assets, apps decided cycle winners, institutional investing was just getting started, and Bitcoin ETFs were still not included in the macro strategy. Base is the second largest app, and the winner will have a unique allocation, with 90 days for financial advisors to add new shares and 120 days for ETF approval. The crypto market capitalization has led to an incredible amount of money in ETFs, and cryptocurrencies have become the topic of the US election, bringing in more market participants. We remain bullish on cryptocurrencies.
A quick look at the outlook for Bitcoin in 3 minutes: Heading to ...... amid volatility?
Since the fourth halving of Bitcoin on April 20, the price has entered a volatile range and is currently trading at $62,800. Market views are divided, with the positive view that Bitcoin still has room to rise and is expected to surpass gold in terms of market capitalization. Analysts predict that the price of bitcoin will reach $500,000 in 2028. May 15 is the deadline for institutional investment managers to submit forms, and more companies buying Bitcoin exchange-traded funds will indicate further recognition of Bitcoin. The SEC's rejection of Ethereum ETFs could generate incremental demand. Bullish sentiment is high among investors, but there are also veteran traders who believe that falling is a hard rule for Bitcoin. After the Fed decided to slow the pace of balance sheet reduction and the collapse of small US banks, the FDIC used insurance funds to protect depositors, adding $6.7 trillion to the banking system. Analysts predict that the price of bitcoin will be volatile and bottom in May-August, and it will be bullish in the long term.
The Chain Venturer team is busy launching new websites and preparing new content, and the cryptocurrency market cap is small but has already achieved many achievements, such as stablecoin settlements exceeding $10 trillion and crypto assets being pledged over $10 billion. Cryptocurrencies are no longer seen as professional suicide, but as a tool to increase the velocity of capital circulation, and the world is moving in a direction never seen before, with the pace of technological innovation accelerating. In the last 100 years, we have advanced faster in innovation than in 1500-1900, and now everything is faster. Cryptocurrencies are tools for decentralized systems that can coordinate the flow of capital and address wealth inequality and social unrest. Stay calm and act pragmatically.
The trend of Hong Kong's virtual asset ETF has changed dramatically, and the dark war between ChinaAMC, Harvest and Bosera has begun
Harvest International plans to launch Bitcoin and Ether spot ETFs to mainland investors through the "Hong Kong Stock Connect", bringing more liquidity and investment opportunities to virtual asset ETFs. This move could have a positive impact on the price of Bitcoin, increase transparency and security, and stimulate market vitality. However, investing in cryptocurrencies is risky, and investors should make careful decisions. Overall, the approval of Hong Kong's first batch of crypto ETFs is likely to have a positive impact on the development of the industry as a whole.
A9 investors describe 10 strategies and how to keep profits
The author shares his own lessons learned in cryptocurrency investing, including successes and failures. He proposed 10 strategies, such as diversification, regular portfolio balancing, risk management, etc., to maintain profits and stability. He emphasized the importance of independent thinking and attention to market sentiment, and recommended continuous learning and asset security. Finally, he suggested seeking teamwork, attending events, being patient and steady, and wishing everyone a fruitful return on investment in 2023-2025.
Hands-on experience: Key tips on how to trade altcoins
Crypto researcher Ardizor grew from $4,700 to $2.1 million by trading altcoins. He shared tips for trading altcoins, including understanding the psychology of the crypto market, tracking down internal wallets, identifying undervalued projects, understanding crypto security principles, and more. He mentions a simple rule: buy when the market is panicked and sell when it's greedy, and you can make a huge profit. He also shared how to find an insider's wallet and verify the security of the token contract. Finally, he recommends selecting 10-30 tokens of interest and checking the important information through the website https://dropstab.com/.
DDO Chain:房地产金融领域的革命性应用
The revolutionary application of DDO Chain is bringing a new development model and possibilities to the real estate finance field, injecting strong impetus and vitality into the digital transformation and innovative development of the industry. With the continuous advancement of technology and the continuous expansion of application scenarios, it is believed that DDO Chain will continue to play an important role in the field of real estate finance and promote the industry to move towards digitalization and intelligence.
With LayerZero about to issue coins, what "dangers" and "opportunities" will it usher in in the future?
LayerZero is a full-chain interoperability protocol designed to improve compatibility between blockchains and help developers design cross-chain applications. It features universal messaging, modular security, permissionless enforcement, and is compatible with V1 applications. LayerZero ecosystem projects include Stargate, Radiant Capital, Angle Protocol, and more. It faces challenges from competitors such as Chainlink, but promises to reduce the complexity of building cross-chain applications. At present, LayerZero has supported more than 20 chains, with nearly 6 million users. However, the challenge of its sustainable development still needs to be further examined.
与治理代币之争:其实一切都是 Meme 币
Meme coins provide a fairer way to issue governance tokens than traditional finance and VC-backed governance tokens. But it also has the potential to cause harm to builders and communities, as most are VC-backed and launched at high valuations. Meme coins can be used as an effective means of capital coordination, making it easy for ordinary people to get on the computer, creating financial assets, and bringing billions of value to the project collection. But it's important to note that not all memes are created equal, and scams are common. The solution is to have VCs syndicate and involve the community to create a more level playing field. All in all, memes have become a non-negligible part of the cryptocurrency world, and projects should lean towards a fairer launch.
How many cryptocurrencies are there in low circulation? These four major tokens are worth paying attention to
Using CoinGecko data, the study looked at the top 300 cryptocurrencies by market capitalization as of May 8, 2024, and found that low-liquidity cryptocurrencies accounted for 21.3%, with the 4 lowest circulating cryptocurrencies being Worldcoin, Cheelee, Starknet, and Saga. At the same time, only 24.7% of the tokens of large-cap cryptocurrencies were issued and circulated in the market, and most of them were released between 2014 and 2020. Overall, the average market capitalization to fully diluted valuation ratio of the top 300 cryptocurrencies by market capitalization is 0.73.
Ordinals Founder Hong Kong Speech: Star Casino, Why Not
A year ago, BlockBeats reported on the first 2 Ordinals events in Hong Kong, and now the Ordinals ecosystem is thriving, with Bitcoin Asia, Ordinals Asia, and various Bitcoin-related events in full swing in Hong Kong. At the recent Ordinals Asia event, founder Casey Rodarmor gave a speech highlighting the power of Bitcoin and the fragility of other cryptocurrencies. Their podcast is called "Grey Money", which means that Bitcoin is a powerful "Grey Money" and fiat currency is the "Devil's Coin". Rodarmor advises Bitcoin builders to keep it simple and adapt to Bitcoin rather than make Bitcoin fit to ideas. Their goal is to build a social, gaming, and entertainment ecosystem that will attract more people to understand the value and significance of Bitcoin. They believe that successful projects are usually the easiest, and that Ordinals, inscriptions, and runes are not seen as technology, but as a technology for socializing, gambling, and entertainment. Rodarmor wants to see more people innovate and build to make Bitcoin more widely recognized and used.
Blockworks Column: The politicization of crypto is no accident
U.S. presidential candidates of both parties are taking advantage of the cryptocurrency industry, but cryptocurrencies are not a hot topic in elections. The politicization of the crypto space has become a partisan issue, with the left and right at odds over its regulation. It will be the innovators, not the politicians, who will really drive progress. Presidential candidate Donald Trump has also expressed support for cryptocurrency. However, people in the crypto community support the candidates, either because they genuinely believe in cryptocurrencies or because they compromise their own morals. Are cryptocurrencies really that important?
Three. Project comprehension
The market is skyrocketing, is Notcoin a new way to open GameFi?
Notcoin is a Telegram-based GameFi game that has sparked buzz with its simple gameplay and large user base. The upcoming launch of the NOT token is in the spotlight and is expected to be a catalyst for the GameFi trend.
April 2024 Blockchain Gaming Research Report: The number of active users reached a new high amid market downturn
In April 2024, the blockchain gaming industry is relatively sluggish, and the market value of game tokens has declined, but the number of daily active users has reached a new high, exceeding 3 million.
In the era of AI, how can Web3 companies compete with traditional AI giants?
Web3 projects face multiple hurdles that have deviated from their original intentions, and the best solution at the moment is to connect the centralized model with the on-chain environment. In the future, distributed computing networks may expand, but model training still requires localized cluster communication. Hyperscalers are investing billions of dollars in data center construction, compared to the total market capitalization of decentralized physical infrastructure projects of about $40 billion. The AI and computing space is highly competitive, and cryptocurrency founders are also focusing on cryptocurrency, and the Web3 space is joining the race, but there is no innovation to scale computing yet. The outlook is not promising, with founders focusing more on economic benefits than making a real impact on the world.
The AI tsunami strikes again, and 10 AI altcoins worth paying attention to are counted
In May, the tech industry will usher in an AI tsunami, with OpenAI, Google, and Microsoft releasing the latest AI tools. Odaily took stock of 10 undervalued AI concept altcoins, including CGPT, Sleepless AI, Node AI, enqAI, EMC, AQTIS, etc., with market capitalizations ranging from $30 million to $153 million, respectively. These coins are worth paying attention to in the fields of DAO voting, virtual companion games, GPU and AI resource rental, decentralized AI model networks, and intelligent liquidity protocols. The concept of AI is one of the most hyped narratives, and combined with hot news in the technology industry, it is worth laying out in advance.
AI KIP Protocol: AI I'm going to say
The ecological value logic of KIP Protocol can be summarized in one sentence: KnowledgeFi, that is, knowledge monetization, and income from labor.