Weekly Review | SEC will notify whether spot Bitcoin ETF will be approved as early as next week; Metis becomes the third largest Ethereum L2
BlockBeats will compile industry news highlights for the week of 12.25-12.31 in this article, and recommend in-depth articles to help readers better understand the market and industry trends.
Multiple Bitcoin ETF applicants have designated authorized dealers for their spot Bitcoin ETFs; SEC to notify issuers next week whether spot Bitcoin ETFs are approved
This week, BlackRock, Invesco US, Fidelity, Grayscale, Galaxy Digital, and WisdomTree have all designated authorized dealers for their respective spot Bitcoin ETFs; Bitwise's spot Bitcoin ETF will receive $200 million in "seed funding"; ARK Invest, VanEck, and Franklin Templeton have all submitted updated S-1 filings. In addition, according to Reuters, sources familiar with the filing process said that issuers who complete their filing revisions by the end of the year may be able to launch their products by January 10th, which is the date the U.S. Securities and Exchange Commission (SEC) must approve or reject the Ark/21Shares ETF. These sources said that the SEC may notify issuers on Tuesday or Wednesday whether they have been approved to launch their products.
Layer 2 project Metis' ecological popularity continues to rise, surpassing Base to become the third largest Ethereum Layer2
On December 26th, the native token of Metis, METIS, broke through $70, with a 7-day increase of 191.3%. On December 28th, the TVL of Metis Andromeda network exceeded $700 million, surpassing Base to become the third largest Ethereum Layer 2. The high popularity of Metis is believed to be related to its ecological fund support. On December 18th, MetisDAO development organization MetisDAO Foundation announced the creation of an ecological fund of approximately $100 million, which will allocate 4.6 million METIS tokens for "sequencer mining, traceable funds, and deployment of new projects." Metis is expected to become the first decentralized sequencer Optimistic Rollup early next year, and the distribution time of the Metis ecological development fund will be after one week of the Metis decentralized sequencer going online.
As a result of this news, the heat of Ethereum Layer2 ecosystem is gradually rising. On December 28th, the price of Ethereum broke through $2400. The TVL of Ethereum L2 increased by more than 20% in the past week, and the tokens of Layer 2 projects saw a general rise, with OP reaching a new historical high of $4. Related reading: "What are the potential projects worth paying attention to in the Metis ecosystem, which has risen more than 190% in a week?", "Which projects will benefit from the 4.6 million METIS ecosystem incentive fund?", "What opportunities are there in the Ethereum ecosystem after the successful revenge of ETH?"
Binance New Coin Mining Launches 42nd Project, Using BNB, FDUSD, TUSD to Mine Sleepless AI (AI)
On December 26th, Binance's new coin mining has launched its 42nd project - Sleepless AI (AI), which is a Web3+AI gaming platform. Users can invest BNB, FDUSD, and TUSD into the AI mining pool on the Launchpad website after 08:00 on December 28th, 2023 (GMT+8) to receive AI rewards. The AI can be mined for a total of 7 days.
The project has raised $3.7 million through three rounds of private token sales, selling 7.6% of the total supply of AI tokens, with a latest valuation of $200 million. 7.00% of the total token supply is allocated to Binance Launchpool, 1.00% is allocated to the initial airdrop, 18.00% is allocated to investors, 18.00% is allocated to the project team, and 29.00% is allocated to the short-term growth fund; 27.00% is allocated to the long-term treasury fund (non-circulating). The project has announced the completion of a new round of financing led by Folius Ventures. Read more: "What is Binance's latest LaunchPool project Sleepless AI?"
Binance's new coin mining project NFPrompt announces the NPF staking economic model, which is now open for staking. Stakers have the opportunity to receive AI airdrops.
NFPrompt has announced the NPF staking economic model and launched the "AI gold rush of staking NFP" plan, aiming to provide the community with more governance and decision-making rights, allowing NFP holders to participate more comprehensively in the construction of the NFPrompt ecosystem. NFP staking was launched at 8:00 Beijing time on December 31st and will be open until 12:59, with a staking limit of 1288 NFP per address. All staked NFP will be locked during the entire HIM Genesis NFT I auction period (from 13:00 on December 31, 2023 to 23:59 on January 1, 2024). Each address that stakes 1288 NFP tokens before the auction will be considered as having bid 1288 NFP in advance for the last ranking HIM. Starting from 00:00 on January 2, 2024 Beijing time, the winning bidder can receive the NFT, and stakers can withdraw their staked NFP. Each staker has the opportunity to receive an airdrop from Sleepless AI.
Analysoor's first community Meme coin WHEN completed casting, the project apologized for the poor experience
On December 26th, the casting time of Analysoor's first community Meme coin WHEN was scheduled to start at 22:00 Beijing time on December 26th, and the casting price was 0.05 SOL + 1 ZERO. The public casting had no restrictions and was accompanied by a lottery verification program. The casting lasted for 1 hour. Before casting, the project team optimized the algorithm to prevent robot and MEV abuse. After the WHEN casting is completed, all blocks with less than 5 casting attempts will be refunded. The project team promises to distribute WHEN tokens within one hour, and 48% of the tokens will be added to the AMM pool on Meteora together with all collected SOL fees, benefiting Solana founder Anatoly Yakovenko. During the event, participants encountered problems such as Mint time delay, webpage lag, and Swap function failure. Analysoor apologized for the poor experience brought to users during the Mint process. Related reading: "Analysoor's first Fair Launch: About 4914 addresses participated, with an average winning rate of 9.27%"
Solana ecosystem cools down, Binance IEO & Launchpool project tokens see a general rise in prices
After reaching historic highs in both monthly active addresses and monthly new addresses, Solana's network has cooled down and the prices of most meme coins in its ecosystem have dropped. However, the price of Silly Dragon remains strong. On December 27th, SILLY surged past $0.15, setting a new all-time high.
This week, BNB's market value rebounded and surpassed SOL, returning to fourth place in the cryptocurrency market value rankings. Influenced by Binance's launch of the new coin mining project Sleepless AI, a number of projects in the BNB Chain ecosystem have also seen a general rise in prices. On December 28th, BNB broke through $330, with a 24-hour increase of 9.45%. The Mingwen ecosystem has also rebounded due to rumors in the community that Binance's Web3 wallet will be integrated with the Mingwen market. On December 28th, ORDI briefly broke through $82, reaching a new historical high. Related reading: "BNB Chain focuses on the Bitcoin ecosystem, overview of four potential 'new shovel' projects".
Arbitrum ecosystem game xPet's token XPET listed on exchange, with a weekly increase of up to 600%, causing community FOMO
This week, the xPet token XPET's rise has caused a lot of discussion in the community. On December 28th, XPET was listed on Bitget and the price broke through $3. In mid-November, the xPet game was launched on Arbitrum, which is a pet game based on feeding pets, upgrading factories, and completing Twitter tasks to get treasure chests. The game has a dual token model and was initially launched in a "mine and sell" model, which attracted a lot of attention two weeks after its launch. Some communities describe the project as a "virus" with obvious pyramid scheme characteristics, similar to the early STEPN model. On December 27th, xPet introduced a new adventure mode. xPet has partnered with OKX Web3 wallet. Related reading: "What is the potential of the new mechanism in the companion game xPET's new mode?", "In the Twitter viral xPET, is the contract code really safe?"
Mt.Gox creditors have started receiving compensation payments in Japanese yen
On December 26th, Mt.Gox creditors reported on Reddit that they have started receiving compensation payments from the now-defunct Bitcoin exchange. These payments are cash reimbursements for the Bitcoins that have been locked on the exchange since February 2014, and Mt. Gox is sending refunds in Japanese yen via PayPal to its users. It has been almost a decade since these funds were locked on the exchange. The latest compensation payments from Mt. Gox first appeared on December 21st, when an anonymous Japanese X (formerly Twitter) user reported receiving compensation from Mt. Gox via bank transfer, with the payment recorded in Japanese yen.
STEPN Developer Find Satoshi Lab officially launches Gas Hero, starting public beta on January 3, 2024
On December 27th, STEPN Developer Find Satoshi Lab announced the official launch of Gas Hero. The public beta will start at 11:00 Beijing time on January 3, 2024, and testing qualifications will be open to 3,000 users, including Gas Hero badge holders, Find Satoshi Lab ambassadors, and partners. Gas Hero is an innovative Web3 game that combines precise strategy and rich social interaction.
Vitalik said that Arbitrum has achieved the first phase of Rollup, and more projects will follow in 2024
On December 28th, Vitalik, co-founder of Ethereum, said: "I am pleased to see that Arbitrum has achieved the first phase of Rollup this year. This is a real decentralized progress. I hope to see ten Rollups enter the first phase next year and achieve a certain degree of sequencer decentralization."
Bitcoin Cats launches "1CAT Golden Shovel Plan", the first mining project is BitLand
On December 25th, Bitcoin Cats, a Bitcoin chain game project, announced the launch of the "1CAT Golden Shovel Plan". Participants can earn ecosystem partner tokens by pledging 1CAT tokens. The first cooperative project is BitLand. Users can pledge 1CAT tokens on the official website to mine BLLB tokens. This activity will start this weekend and last for two months, with a total reward of 500 million BLLB, accounting for 5% of its total supply. Related reading: "IDO raised more than 100 million US dollars, why is Bitcoin Cats, a Bitcoin chain game, so popular?"
UniSat Wallet now supports ARC20 assets
On December 26th, UniSat Wallet announced that it now supports ARC20 assets. To enhance security, a backup solution based on official indexes is currently being used to ensure full compliance with official behavior in the latest version. In future updates, the UniSat Atomicals Indexer will be transitioned to improve service performance.
This Week's Popular Articles
Rising Inscriptions ATOM and Crocodile NFT, a guide to playing in the Atomicals ecosystem
When exploring the grand and mysterious digital realm of Bitcoin ecology, Ordinals and Atomicals shape and maintain new developments in this ecosystem in distinctly different ways. Atomicals primarily focus on creating and managing complex token systems on the Bitcoin network, while Ordinals specialize in creating and trading unique NFTs and data on the Bitcoin blockchain. They each play different roles in the Bitcoin ecosystem.
Beginner's Guide: How to Mine ARC Quark, the New Coin in the Atomical Ecosystem
The ARC20 token Quark, which is almost all mined in the Bitcoin ecosystem, has the English meaning of "quark", which is the basic unit of matter, similar to the smallest unit of Bitcoin, sats. Quark also has meme properties to some extent. Due to its high initial market value, many holding addresses, and strong basic consensus, many community members believe that Quark has the potential to become a meme coin that can go beyond the Atomicals ecosystem.
Binance's latest LaunchPool project Sleepless AI, what is it?
On February 26th, Binance's new coin mining launched the 42nd project, Sleepless AI (AI), a Web3+AI gaming platform. Sleepless AI is a groundbreaking Web3+AI virtual companion game that uses AIGC and LLM to create rich story-based gameplay and interactive character development, providing players with emotional support and immersive gaming experiences. According to the team, its investors include Binance Labs, Foresight Ventures, and Folius Ventures.
On December 20th, the Hong Kong Web3.0 Entrepreneur Summit was held as scheduled at Cyberport, and Bailu Club was in attendance as a media support. Dashan, the founder of Waterdrop Capital, shared insights on the theme of "the beginning and end of the blockchain world", including the development of the Bitcoin ecosystem, the second growth curve of miners, important upgrades to Bitcoin, the evolution of blockchain technology, Ethereum and RWA, Lightning Network, Nostor protocol, and other aspects.
Arthur Hayes: Three Traps of the Cryptocurrency Bull Market - Spot ETFs, Compliant DeFi, and RWA
All tokens and investment themes in the cryptocurrency industry are not the same. As the year comes to a close, I want to introduce some value traps in the cryptocurrency world. These traps are sold by both well-intentioned and ignorant people. As usual, my goal is to present different perspectives and leave readers with questions.
BNB Chain is making efforts in the Bitcoin ecosystem, a look at four potential "new shovel" projects
A few days ago, there were rumors in the community that Binance's Web3 wallet will integrate with the Inscription market, which caused the price of Inscription to rebound. Currently, there is still no official news, but from the market performance, it is evident that BNB chain is making efforts in the Bitcoin ecosystem. BakerySwap is a stepping stone for BNB chain to explore the Bitcoin ecosystem, but facing such a high level of attention and a constant stream of new projects and protocols in the Bitcoin ecosystem, BNB chain clearly will not stop here, and neither will Binance.
Metis is an Ethereum Layer 2 scaling solution based on Optimistic Rollup. It is a Layer 2 scaling and general infrastructure project founded by Elena Sinelnikova, Kevin Liu, and Yuan Su in 2018. Metis has completed $1 million in angel and seed funding and $3 million in Series A funding. Metis is expected to become the first decentralized sequencer for Optimistic Rollup early next year, and the distribution of the Metis ecosystem development fund will take place one week after the launch of the Metis decentralized sequencer.
Ethereum "revenge success", what opportunities can be hidden in the ETH ecosystem?
Aiming at MetaMask's "Operation Fox Hunting", how to claim Rainbow Wallet points?
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