Daily Legal Pulse: Gaming tokens see a general rise in value; spot trading volume and Bitcoin volatility in the cryptocurrency market reach the highest levels since April.
Selected News:
1. The daily trading volume of the encryption market and the volatility of Bitcoin have both risen to the highest level since April.
2. The gaming track token has seen a general rise in prices, with SLP experiencing a 24-hour increase of over 30%.
3. Uniswap Foundation transferred a total of 9.8 million UNI in the past 6 days.
4. Animoca Brands acquires Web3 streaming platform Azarus;
5. The seed fund of VanEck Bitcoin spot ETF may directly use Bitcoin instead of cash.
Price Observation
Game track tokens have seen a general rise in prices, with SLP increasing by over 30% in the past 24 hours.On October 30th, according to market data, P2E gaming tokens experienced a general increase in prices. Among them, SLP (Axie in-game currency) rose by 31.48% in the past 24 hours, now priced at $0.0025. GALA (Gala) rose by 18.6% in the past 24 hours, now priced at $0.021. AXS (Axie Infinity) rose by 15.77% in the past 24 hours, now priced at $5.8. GMT (STEPN) rose by 13.1% in the past 24 hours, now priced at $0.19. SAND (The Sandbox) rose by 10.96% in the past 24 hours, now priced at $0.36. MANA (Decentraland) rose by 10.45% in the past 24 hours, now priced at $0.38.
GODS short-term breakthrough $0.24, up more than 25% in 24 hours
On October 29th, according to OKX market data, GODS short-term broke through $0.24 and is now priced at $0.2307, with a 24-hour increase of 25.17%.
Blue chip NFT floor price slightly rebounds, The Captainz floor price increases by 22.65% in 7 days
On October 29th, according to Blur market data, the floor prices of blue-chip NFT series have shown varying degrees of rebound, including: BAYC floor price at 28.83 ETH, with a 7-day increase of 8.83%; MAYC floor price at 5.60 ETH, with a 7-day increase of 9.14%; The Captainz floor price at 5.47 ETH, with a 7-day increase of 22.65%; Azuki floor price at 5.27 ETH, with a 7-day increase of 6.34%; PudgyPenguins floor price at 5.15 ETH, with a 7-day decrease of 1.69%.
Transaction Tracking
A certain Smart Whale deposited 395,000 LINK into Coinbase 11 hours ago.
On October 30th, according to Scopescan data monitoring, a certain Smart Whale address deposited 394,700 LINK into Coinbase 11 hours ago, worth approximately $4.35 million. It is reported that the average price of LINK when the address accumulated it 2 months ago was about $6.13.
Uniswap Foundation transferred a total of 9.8 million UNI in the past 6 days.
On October 29th, according to Lookonchain's monitoring, the Uniswap Foundation has transferred a total of 9.8 million UNI tokens (approximately $40.66 million) in the past 6 days. Among them, 3.4 million UNI tokens (approximately $14.1 million) were deposited into OKX; 3 million UNI tokens (approximately $12.45 million) were deposited into Kraken; and 3.4 million UNI tokens (approximately $14.1 million) were transferred to FalconX.
On October 29th, according to Spot On Chain monitoring, a whale address starting with 0x8af transferred a total of 4077 MKR (5.88 million USD) from Bitget in the past 24 hours, with an average price of 1,442 USD. Subsequently, the whale transferred all MKR to Aave and borrowed 1.84 million USDC. The USDC was then exchanged for DAI and deposited into MakerDao with a 5% DSR.
On October 29th, according to The Data Nerd's monitoring, 7 hours ago, an address starting with 0x027 related to Amber Group withdrew 20,000 ETH (approximately $35.65 million) from Binance at an average price of $1782.
A whale transferred 3.42 trillion PEPE tokens, equivalent to $3.99 million, to OKX.
On October 29th, according to Spot On Chain monitoring, a whale address starting with 0x3ae transferred 34.2 trillion PEPE tokens (worth $3.99 million) to OKX at an average price of $0.000001169, six hours ago. It is worth noting that the whale accumulated these PEPE tokens by trading on OKX and providing liquidity on Uniswap. However, based on its PEPE trading price chart, the whale is basically in a loss-making state. The price of PEPE has risen by about 65% in the past 7 days.
Project Updates
Stars Arena announced that its CEO Chill Pill has resigned
On October 30th, Stars Arena, a simulation project of friend.tech in the Avalanche ecosystem, announced on social media that its CEO Chill Pill had resigned and that significant steps would be taken in the future to rebuild trust with the community.
Uniswap and Visa joint card proposal did not receive enough votes
On October 29th, the Snapshot voting page showed that the proposal for the Uniswap and Visa co-branded card did not pass with a 93.09% opposition rate, 6.78% abstention rate, and 0.13% approval rate. The proposal was based on a suggestion from Fiat24, a Swiss-regulated bank on Arbitrum, to collaborate with Uniswap to launch a co-branded Visa debit card. Fiat24 emphasized that despite Uniswap's daily trading volume of $600 million, there is still a huge growth potential compared to the daily trading volume of the global foreign exchange market ($75 trillion).
Fiat24's proposal aims to further integrate Uniswap into mainstream and traditional financial transactions. The Visa card proposed will first be available to residents of the 27 countries in the European Union, with plans to expand to Southeast Asian and Latin American countries in the future. The card is priced in euros and supports Apple Pay and Google Pay. Fiat24 states that there are no efforts or costs required from Uniswap DAO for this plan, and all labor and related costs will be borne by Fiat24.
Data: Uniswap front-end transaction fee revenue has exceeded $500,000
On October 29th, according to Dune data, since the implementation of the new fee policy on October 17th, Uniswap's front-end transaction fee revenue has reached $539,053.
Smart Cats NFT has minted over 630,000 pieces, with a unique user count of 621,000.
On October 30th, according to OpenSea data, over 630,000 Smart Cats NFTs based on ERC-5169 have been minted, with a total of 621,000 independent users, all of whom are members of the Smart Layer community. This data has reached half of the total number of NFTs issued by Reddit during the SuperBowl in February 2023. It is reported that Smart Layer will conduct Alpha testing of advanced features for Smart Cats this week, with 1,000 community members being the first to try it out, and later expanding to 2.2 million Smart Layer Pass holders.
Korean investors report: more inclined to invest in altcoins, use local cryptocurrency trading platformsOn October 30th, according to a survey report by DeSpread Research, Koreans are active cryptocurrency traders with a strong preference for altcoins and local tokens, and local exchanges also outperform global competitors in trading volume. According to a survey by the Korean Financial Intelligence Unit (KoFIU), the number of cryptocurrency investors in the country reached about 6 million this year, accounting for 10% of the total population. Most of these investors are mainly engaged in investment activities centered around centralized trading platforms, making the influence of centralized trading platforms significant in the Korean cryptocurrency market.
DeSpread wrote in the report: "Korean trading platforms have had an explosive reaction to Ripple-related news. The trading volume of the four major Korean trading platforms increased from $27 billion in June to $37 billion in July, a month-on-month increase of 37%. Most individual investors on Upbit have shown strong interest in altcoins with high profit potential and tend to accept related high risks. This is considered one of the reasons for the relatively high proportion of altcoin trading in the Korean market." The preferred trading network in Korea is also different, and Tron's network is used for most transactions due to its relatively low transaction fees.
Financing News
Animoca Brands acquires Web3 streaming platform Azarus
On October 29th, according to Venturebeat, Animoca Brands announced that it has acquired Web3 streaming platform Azarus. The specific acquisition amount has not been disclosed. Azarus has built a decentralized streaming platform that allows users to stream games and interact with audiences, while using blockchain-based tokens to promote rewards and incentives. After the completion of this acquisition transaction, it is reported that Azarus' innovative technology will be integrated into Animoca Brands' portfolio of products, as well as digital games that are currently being developed and released, to further enhance the streaming capabilities of Web3 games and expand the experience of the metaverse game.
Regulatory News
VanEck Bitcoin Spot ETF Seed Fund may use Bitcoin directly instead of cash
On October 30th, Scott Johnsson, a financial lawyer in the United States, posted on social media that the wording of the seed fund in the updated prospectus for VanEck's Bitcoin spot ETF is similar to that of BlackRock. Given that both are represented by the same lawyer from the law firm of K&L Gates, this may not be surprising. However, VanEck did not use cash as the seed fund like BlackRock iShares did, but instead suggested using Bitcoin as the investment measurement unit for the seed fund.
VanEck has submitted a modified version of its Bitcoin spot ETF to the US SEC.
On October 29th, Bloomberg ETF analyst James Seyffart stated on social media that asset management group VanEck has submitted a modified version of a Bitcoin spot ETF to the US Securities and Exchange Commission (SEC). Previously, on October 26th, James Seyffart also stated on social media that cryptocurrency asset management company Bitwise has submitted a modified version of a Bitcoin spot ETF to the SEC, "just a response to SEC comments and concerns". If Bitwise's product is approved by the SEC, it will be traded under the ticker symbol BITB.
Legal professionals: SBF's sentence is expected to be no less than 40 years
On October 29th, according to the encryption KOL @AP_Abacus on Twitter, some lawyers have raised their minimum expectations for sentencing based on testimony from SBF yesterday. Legal professionals expect SBF's sentence to be no less than 40 years.
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