Rhythm Morning Post｜The floor price of Sols, the inscription token on the Solana chain, rose to 60.72 SOL; Zapper and Sushi front-ends have been attacked
Selected News:
1. The on-chain inscription token Sols on Solana has seen its floor price rise to 60.72 SOL, with a 24-hour increase of 347.78%.
2. Pidan: Zapper and Sushi front-end have been attacked;
3. Bloomberg ETF analyst: If the SEC only allows Bitcoin spot ETFs to be created with cash, it will be detrimental to GBTC and its holders;
4. Chain game studio Farcana has completed a $10 million seed round of financing, with participation from Polygon Ventures and others.
5. SEC Chairman: Will Re-examine Spot Bitcoin ETF Application Based on Court Ruling.
Price Observation
BONK 24-hour surge over 90%, hitting a new all-time high
On December 15th, according to market data, the Solana ecosystem's Meme token BONK has risen by 90.41% in the past 24 hours, with a current price of 0.00002448 USD. It once surged past 0.000026 USD, setting a new all-time high.
BONK is now ranked 59th in the cryptocurrency market with a total market capitalization of 1.587 billion US dollars.
On December 15th, according to Magic Eden market data, the floor price of the Solana blockchain's Inscription token Sols has risen to 60.72 SOL (approximately $4474 USD), with a 24-hour increase of 347.78%.
ORDI surged above $65, up more than 25% in 3 hoursOn December 14th, according to OKX market data, ORDI rose sharply above $65 and is currently priced at $65.03, with a 25% increase in the past 3 hours.
On December 14th, according to OKX market data, STG briefly rose over 7% before falling back due to news related to LayerZero, and is now priced at $0.54.
ALEX broke through $0.33 with a 24-hour increase of 24.6%On December 14th, according to market data, the Bitcoin one-stop DeFi service platform ALEX Lab's token ALEX broke through $0.33 and is now priced at $0.332, with a 24-hour increase of 24.6%.
TIA breaks through $14, setting a new historical high
On December 14th, according to OKX market data, TIA broke through $14 and is now priced at $14.17, with a 24-hour increase of 17.2%. The currency price continues to hit a new all-time high.Bitcoin falls below $42,000 in the short term
On December 14th, according to OKX market data, Bitcoin briefly fell below $42,000 and is now trading at $42,116, with a 24-hour gain narrowing to 1.84%.
Ethereum breaks $2300, up 6.08% in 24 hours
On December 14th, according to OKX market data, Ethereum rose and broke through $2300, with a current price of $2301 and a 24-hour increase of 6.08%.
Project Updates
Sotheby's auctions inscriptions for the first time, estimated to be five times the price
On December 15th, according to CoinDesk, the "Bitcoin NFT" inscription BitcoinShrooms, which was first auctioned by Sotheby's, sold for approximately $450,000, five times the highest estimate.
The auction ended on Wednesday, including three images, one of which is a pixelated avocado that sold for over $100,000, and a design that appears to be from the "Super Mario" series, selling for over $240,000. The three items received a total of 148 bids, with over two-thirds of the bidders being new customers of Sotheby's.
On December 14th, Bloomberg ETF analyst Eric Balchunas replied to a question on social media regarding the difference between physically-backed and cash-backed Bitcoin ETFs. He stated that when there is excess demand for Bitcoin ETFs, authorized participants (APs) will need to create new ETF shares. They can either provide cash to the ETF issuer in exchange for new shares (which the issuer will use to buy BTC), or provide BTC to the issuer in exchange for shares. Either way, the new ETF shares are equivalent to new BTC purchases.
SEC hopes that only cash can be used to establish a Bitcoin ETF, which means that only ETF issuers can handle BTC, not intermediaries (registered brokers cannot). They may also be unwilling to let unregistered broker-dealer subsidiaries handle any part of it (because they are not registered). However, cash-created Bitcoin ETFs are not ideal and undermine a major advantage of the ETF structure. But it's better than nothing, and hopefully they can resolve it in-kind soon.
ETH staking volume will maintain an upward trend throughout 2023
On December 14th, according to the Ethereum staking data dashboard created by 21.co on Dune, the amount of Ethereum staked has been on the rise from January 2023 to December 2023. 21.co suggests that this may indicate continued trust in the ecosystem by users, as they continue to stake Ethereum instead of selling it despite the price increase.
Financing Express
On December 15th, according to Decrypt, Farcana, a blockchain gaming studio based in the United Arab Emirates, completed a $10 million seed round of financing. The round was participated by Animoca Brands, Polygon Ventures, Fenbushi Capital, Rarestone Capital, MMPro Trust, Unpopular Ventures, and others.
The new funding will further develop its third-person multiplayer shooter game Farcana. Farcana has some similarities in game style with Blizzard's Overwatch, but with smaller maps, walls, and game modes reminiscent of Riot Games' Valorant. All items in the game will exist in the form of NFTs, and Farcana will use the FAR token for all transactions.
Bitcoin rebate platform Lolli completes $8 million financing, led by BITKRAFT Ventures
On December 14th, according to TechCrunch, Bitcoin rebate platform Lolli completed an $8 million Series B financing round. The round was led by BITKRAFT Ventures, with participation from Sfermion, Ulta Beauty's Prisma Ventures, Hypersphere Ventures, ZebPay CEO Rahul Pagidipati, 2 Punks Capital, and Founders Fund's Pathfinder Ventures.
NFT startup Metagood completes $5 million seed round, led by Sora Ventures
On December 14th, according to CoinDesk, NFT startup company Metagood completed a $5 million seed round of financing. The round was led by Sora Ventures, with participation from ACTAI Ventures, Bitcoin Frontier Fund, Bitcoin Magazine Fund, London Real Ventures, and Peach.xyz. The new funds will support the development and marketing of its Osura technology and products, as well as collaborations with artists.NFT perpetual contract trading platform nftperp completes $3 million Series A financing, led by 1kx
On December 14th, according to Chainwire, NFT perpetual contract trading platform nftperp announced the completion of a $3 million Series A financing round. The round was led by 1kx, with participation from Maven 11 and Mechanism Capital, among other investors. Angel investors include Spencer from Spencer Ventures and Gmoney, David Choi from MetaStreet, Nick Emmons from Upshot, and Jonathan Gabler from NFTfi.
OKX Ventures leads investment in bitSmiley, the first native stablecoin project in the BTC ecosystem.
On December 14th, OKX Ventures announced a strategic investment in the stablecoin protocol bitSmiley on the BTC ecosystem. The protocol allows users to over-collateralize native BTC to mint stablecoin bitUSD on the BTC network. Additionally, bitSmiley includes lending and derivative protocols, aiming to provide a new financial ecosystem for Bitcoin. Previously, bitSmiley was selected as a high-quality project in the BTC hackathon held jointly by ABCDE and OKX Ventures in November of this year.
DePIN project Hivello completes $1 million Pre-Seed round of financing with participation from NGC
On December 14th, according to prnewswire, the decentralized physical infrastructure network (DePIN) project Hivello completed a $1 million Pre-Seed round of financing. This round of financing was participated by NGC, Blockchain Founders Fund, Side Door Ventures, IDG, Bing Ventures, MEXC Exchange, XT.com Exchange, Genesis Block, and NxGen.
It is reported that Hivello is committed to changing the popularity of decentralized services globally, and is expected to integrate up to 100 DePINs within the next 12 months.
Regulatory News
SEC Chairman: Will Re-examine Spot Bitcoin ETF Applications Based on Court Rulings
On December 15th, according to CNBC, Gary Gensler, the chairman of the US SEC, responded to questions regarding the approval process for "spot Bitcoin ETFs and the approval window in early January," stating that "we have received 8 to 12 applications. I will not prejudge anything. We have rejected many such applications in the past, but the court in the District of Columbia has weighed in on this. Therefore, we will re-examine this issue based on these court rulings."
First Trust has submitted a Bitcoin "buffer" ETF application to the US SEC.
On December 15th, Bloomberg ETF analyst James Seyffart reported that First Trust has submitted a Bitcoin "buffer" ETF application to the U.S. Securities and Exchange Commission (SEC). These types of funds can prevent a certain percentage of downside losses, but at the same time, upward gains are limited.It is expected that other entrants in the field will adopt unique differentiation strategies to provide Bitcoin exposure in the coming weeks.
On December 14th, Bloomberg analyst James Seyffart posted on social media that Valkyrie submitted a new revised prospectus (S-1 document) for its Bitcoin spot ETF today. They joined Bitwise and Invesco in stating that creation and redemption can only be done in cash. Like Invesco, this document specifically states that if/when allowed, they hope the ETF can use physical creation in the future.
The US Department of Justice: Four individuals accused of cryptocurrency investment fraud and money laundering, causing over $80 million in lossesOn December 15th, the US Department of Justice revealed that Lu Zhang, Justin Walker, Joseph Wong, and Hailong Zhu were charged with cryptocurrency investment fraud and money laundering. According to court documents, the individuals are accused of conspiring to set up shell companies and bank accounts to launder funds from victims of cryptocurrency investment fraud and other fraudulent schemes.
They transferred funds to domestic and international financial institutions. The overall fraud plan of the related fraud groups involved at least 284 transactions and resulted in victims losing more than 80 million US dollars. More than 20 million US dollars of victim funds were directly deposited into bank accounts related to the defendant. The US Secret Service Global Investigative Operations Center is investigating the case.
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