Rhythm Morning Post | The U.S. SEC launched a legal campaign to classify Ethereum as a security; ETHFI briefly exceeded $4.4, rising 46% in 24 hours
Selected news:
1. Bitcoin rebounded to briefly exceed $68,000, with a 24-hour increase of 9.26%
2. Ethereum rebounded above $3,500, with a 24-hour increase 11.34%
3. The ERC-314 standard Meme project Simplify token SIMP rose to a maximum of $42 after the market opened
4. The US SEC launched a legal campaign to classify Ethereum as a security
5. ETHFI briefly exceeded US$4.4, with a 24-hour increase of 46%
Price Observation
On March 20, according to market data, Merlin Chain ecological Meme token VOYA has increased by more than 50% in the past 4 hours, and is now quoted at US$6.25.
It is reported that the airdrop target of RUFI, the first rune token on Merlin Chain, includes VOYA holders. In addition, the Merlin Chain ecological DEX project Merlin Swap (MP) will also launch the ecosystem’s first IDO on Merlin Starter on March 25. The supported assets include BTC, M-BTC, HUHU and VOYA.
SSV rises It broke through $55 in a short time, with a 24-hour increase of 14.57%
On March 20, according to OKX market data, SSV rose and broke through $55 in a short time, and is now quoted at $54, with a 24-hour increase of 14.57%. %.
Received online Affected by Coinbase news, RON rose by more than 12% in a short time
On March 20, according to OKX market data, affected by the news of being listed on Coinbase, Ronin (RON) rose by more than 12% in a short period of time, and is now quoted at US$3.5.
BlockBeats Note: Due to the need to distinguish it from the Romanian legal currency RON, Ronin’s token name on Binance, Coinbase and other platforms is RONIN.
NFE short It broke through US$0.25 at one time, rising by more than 140% in 24 hours
On March 21, according to Coingecko data, NFE broke through US$0.25 in a short time, and is now quoted at US$0.2310, with a 24-hour increase of 143.04%. Edu3Labs (NFE) aims to use Web3 to reshape education. It is a platform at the intersection of education and Web3 technology, changing the way people learn and interact with educational content. Through blockchain integration and gamified learning experiences, Edu3Labs provides users with access to a variety of educational materials, including NFE Marketplace, AlUniversity, Knowledge Contest Games, and Edu3Verse.
BlockBeats previously reported that on March 19, Binance founder and former CEO CZ posted on social media that an educational project called Giggle Academy would be launched soon. This project aims to provide free basic education to students from grades 1 to 12. The core concepts include non-profit purposes, gamified learning experiences and adaptive education mechanisms.
Bitcoin The rebound briefly exceeded US$68,000, with a 24-hour increase of 9.26%
On March 21, according to OKX market data, Bitcoin rebounded and briefly exceeded US$68,000, and is now quoted at US$67,808, 24 hours An increase of 9.26%.
Ethereum It rose back above $3,500, with a 24-hour increase of 11.34%
On March 21, according to OKX market data, Ethereum rose back above $3,500 and is now quoted at $3,523, a 24-hour increase of 11.34%.
ETHFI short It broke through 4.4 US dollars in a short time, with a 24-hour increase of 46%
On March 21, according to OKX market data, ETHFI broke through 4.4 US dollars in a short time, and is now quoted at 4.3 US dollars, with a 24-hour increase of 46%. %.
On March 21, according to OKX market data, STX broke through $3.5 for a short time and continued to hit a record high, and is now quoted at 3.41 The U.S. dollar rose 27.15% in 24 hours.
On March 21, according to official website data, the ERC-314 standard Meme Simplify token SIMP on the Ethereum mainnet rose to a high after the market opened. It rose to $42 and is now quoted at $37.3.
It is reported that the transaction of the ERC-314 project Simplify is very simple. Transferring money to the address means buying, and transferring money means selling, avoiding everything on the Ethereum network. Infrastructure, users only need one transfer to complete the transaction.
BlockBeats Note: There are risks in new standards and projects. Users need to treat them with caution and properly protect personal assets.
ONDO 24 It rose more than 46% in an hour and hit a record high, now quoted at $0.745
On March 21, according to Bitget market data, ONDO rose above $0.7 to hit a record high, and is now quoted at $0.745, a 24-hour increase of 46.1%.
Transaction Tracking
On March 20, according to Arkham data monitoring, Grayscale transferred 1473.3 BTC to the Coinbase Prime address 17 minutes ago, and another 2287.6 BTC to the new address.
0xef The address starting with 0xef lost $3.05 million worth of PENDLE due to phishing
On March 20, according to Scam Sniffer monitoring, the address starting with 0xef had just lost $3.05 million worth of PENDLE due to phishing. The address signed a malicious ERC20 Permit signature in the transaction. BlockBeats would like to remind users that phishing incidents have occurred frequently recently. Users are advised to take good care of their personal assets and be careful to identify false information.
On March 21, according to Coinglass data, the entire network liquidated US$407 million in the past 24 hours, of which long positions liquidated 202 million U.S. dollars, and short positions were liquidated to 205 million U.S. dollars.
Project News
Aevo Online Trading and Staking Incentive Plan
On March 20, according to official news, Aevo announced that its trading and staking reward program is now online. Traders and AEVO/RBN holders will have the opportunity to earn more AEVO rewards over a 4-month period by trading on Aevo, as well as staking AEVO or RBN.
Aethir node The public sale amount exceeded US$65 million in one hour
On March 20, according to official news, the decentralized GPU cloud infrastructure Aethir launched the "Check Node" at 18:00 today ) for public sale. Within 1 hour, all T1-T23 level nodes were sold out, with a total sales volume of more than $65 million.
Whales Market Puffer Finance points trading launched
On March 20, according to official news, Whales Market announced that Puffer Finance points trading has been launched.
beoble： A snapshot is about to be taken and the air investment price of BBL tokens will be disclosed
On March 20, according to official news, the Web3 social protocol announced that a snapshot will be taken and the air investment price of BBL tokens will be disclosed. In order to alleviate conflicts with Due to spam issues related to instant wallet creation, it was decided to use 0.03 ETH or 150 BBL to snapshot the wallet. In order to obtain the air investment qualification, it is recommended that users prepare the above fees in the wallet before taking the snapshot.
TON Foundation will issue 30 million TON within 1 month for ecology Incentives
On March 20, according to official news, the TON Foundation will distribute 30 million Toncoins (approximately US$115 million) within one month starting on April 1 ) for ecological incentives. It is reported that TON ecological projects compete every month to win huge prizes, and TON chain users can receive huge rewards through their activities. This competition will include 4 parts: The League, Token Mining, Tasks and Airdrops, and Liquidity Pool Increase. Each part will be aimed at participants with different identities including developers and users.
Go to the center The AI ecological project Zero1 Labs has raised US$10.78 million through LBP
On March 20, according to Fjord Foundry data, Zero1 Labs has raised $10.78 million through the Liquidity Boot Pool (LBP) in 3 days. US$10.78 million was raised within the period, and the FDV calculated based on the currency price at the end was US$167 million. A total of more than 3,000 addresses participated in this sale.
Zero1 is a decentralized artificial intelligence (DeAI) ecosystem focused on data governance. Created a comprehensive DeAI product suite that provides a secure, modular and connected platform for DeAI tools and applications. Combined with the Zero1 build program and the proprietary Cypher Chain, it establishes a resilient flywheel to power the upcoming DeAI revolution, providing a more affordable alternative to the PoW-based TAO subnet.
Aptos Ecology Wallet Pontem is launched in Huawei official App mall
On March 20, according to official news, Aptos ecological wallet Pontem has been launched in Huawei official App mall, which is the first time that Huawei official App mall has been launched. Aptos ecological wallet.
On March 20, according to official news, Skytopia, an entertainment social game project based on Web3, announced its cooperation with the famous Japanese film art director Yoshihito Akatsuka. Reach strategic cooperation. Akatsuka Yoshihito is one of the top 20 scenic designers in the world. He has participated in the production of many famous movies, including "The Thirteen Hairpins", "Journey to the West: Conquering the Demons", etc. As an art consultant, Akatsuka Yoshihito will inject professional artistic elements into Skytopia, enrich entertainment content, provide users with a more attractive virtual experience, and help Skytopia achieve greater achievements in the field of Web3 entertainment games. It is reported that Skytopia has issued its first asset, Skytopia Mayor Pass NFT, on January 23, with an issue price of 0.08 ETH, with a maximum increase of 10 times. Staking was launched on March 19, and the new staking model will provide pledgers with Maximum liquidity and earnings. Skytopia is a Web3 entertainment social project that is committed to bringing users a new entertainment experience by integrating decentralized sovereignty, innovative finance and immersive experience.
DEX Layer Project Native launched a new high-yield DeFi product Aqua on March 20
On March 20, DEX Layer project Native announced that its new liquidity product Aqua was released on zkLink on March 20 Measurement. "As a rare innovation in the DeFi field," Aqua combines capital efficiency with maximum returns, aiming to combine these two key aspects of DeFi to provide a platform for market makers, liquidity providers and retail traders.
Aqua allows Market Makers (MMs) and Solvers to conduct credit-based trading by tapping into liquidity pools deposited by retail investors. This innovative approach allows market makers to provide more diversified pricing strategies while ensuring the safety of user funds, thereby improving capital efficiency and maximizing returns using leverage.
On March 20, Meme project LADYS posted on social media that all pre-sale funds have been returned to the original wallet address. Eligible pre-sale wallets can claim free LADYF tokens after the website goes live.
DEX Liquidity Layer project Native launched a new high-yield DeFi product Aqua on March 20
On March 20, according to official news, Native’s new liquidity revolutionary product Aqua was launched on zkLink on March 20 Release closed beta. It is reported that Aqua allows market makers (MM) and solvers to conduct credit-based trading by leveraging the liquidity pool deposited by retail investors. This innovative approach allows market makers to provide more diversified pricing strategies while ensuring the safety of user funds, thereby improving capital efficiency and maximizing returns using leverage.
Bitgo in Deploying WBTC on Kava, supporting native USDT and WBTC integration
On March 21, according to official news, Bitgo has deployed the wrapped Bitcoin asset Wrapped Bitcoin (WBTC) on Kava. WBTC is provided by Bitgo Trust Company, and Kava Chain becomes the Layer 1 that supports both native USDT and WBTC integration after Ethereum and Tron. Binance also announced native support for Kava EVM, including direct integration with USDT and WBTC.
CeFi Information
Kraken launches Kraken Custody, a custody service platform for institutions
On March 20, according to The Block, Kraken launched Kraken Custody, a custody service platform for institutions. The service will create deposit accounts for customers, allowing institutions to store, manage and transfer funds within a single interface, and be protected by Protected by Kraken’s internal security protocols.
Coinbase will Listing Ronin (RONIN)
On March 20, according to official news, Coinbase will add support for Ronin (RONIN) on the Ronin network. If liquidity conditions are met, trading will begin on March 20, 2024 at approximately 12:00 PM ET. Trading on the RONIN-USD trading pair will begin in phases once the asset is in sufficient supply.
Bele Germany launches BUIDL, the first tokenized asset fund on the Ethereum network
On March 21, according to businesswire reports, BlackRock launched its first tokenized asset fund in the public area on Wednesday. A tokenized fund issued on the blockchain - BlackRock USD Institutional Digital Liquidity Fund (acronym BUIDL). BUIDL will subscribe to the Fund through Securitize Markets, LLC, providing accredited investors the opportunity to earn U.S. dollar income. Tokenization remains a focus of BlackRock’s digital asset strategy.
Through the tokenization of the fund, BUIDL will expand investors’ access to on-chain products and provide Instant and transparent settlement, as well as allowing cross-platform transfers, bring important benefits to investors. BNY Mellon will enable interoperability between digital and traditional markets for the fund. BUIDL is a stable asset pegged to the U.S. dollar, and BlackRock pays out daily accrued dividends as new tokens directly into investors’ wallets. The fund invests 100% of total assets in cash, U.S. Treasuries, and repurchase agreements, allowing investors to earn income while holding tokens on the blockchain.
Coinbase plans to launch on April 1 Futures trading for DOGE, LTC and BCH launched on March 21st
On March 21, according to The Block, Coinbase Derivatives plans to launch futures trading for DOGE, LTC and BCH on April 1st. Coinbase has detailed the size, settlement method (utilizing Market Vector’s base rate) and structure of proposed contracts for three futures trades in three separate letters to the Commodity Futures Trading Commission (CFTC) on March 7.
Financing Express
Morph completed US$20 million in seed and angel round financing, led by Dragonfly Capital
On March 20, Ethereum L2 Morph announced the completion of a US$19 million seed round of financing, led by Dragonfly Capital, with participation from Pantera Capital, Foresight Ventures, The Spartan Group, MEXC Ventures, Symbolic Capital, Public Works, MH Ventures and Everyrealm.
In addition, Morph also received US$1 million in angel round financing. Investors include founders from Polygon, Manta, Galxe, Sei, Nansen, Story Protocol and other projects , as well as KOLs such as Icebergy, MoonOverlord, NaniXBT, and Dingaling.
Morph plans to use this round of financing to accelerate team building, increase developer incentives, expand marketing, etc.
On March 20, according to Chainwire reports, Berachain ecological transaction aggregation platform Ooga Booga completed a US$1 million seed round of financing at a valuation of US$10 million. This round of financing was led by Kenetic Capital and included Cypher Capital, CitizenX, Rubik, Rana , Baboon VC, Kestrel, Nural Capital, Wizard Capital, Panony and Blockbuilders participated in the investment.
On March 21, according to Chainwire, the Web3 privacy infrastructure Mystiko.Network has completed an $18 million seed round. The round of financing was led by Sequoia Capital India/SEA (now known as Peak XV Partners), with participation from Samsung Next, Hashkey, Mirana, Signum, Coinlist, Naval Ravikant, Sandeep Nailwal, Gokul Rajaram, Tribe Capital, Morningstar Ventures, etc.
Mystiko SDK is a universal ZK SDK while providing scalability, interoperability, privacy and artificial intelligence for every blockchain/dapp. In less than a year, the Mystiko V1 mainnet has supported over $134 million in transaction volume, 214,000 transactions on 5 different layer1/layer2 blockchains, and has 54,000 unique active chain members. Up user. Previously, Mystiko.Network has been selected to participate in projects such as Binance MVB, Chainlink Startup, Polygon Ecosystem, Coinlist Seed, etc.
Opinion data
"Bitcoin halving" keyword popularity hit a record high on Google searches in mid-February
On March 20, according to Google search information, the search keyword popularity of "Bitcoin Halving" hit a record high of 100 points on Google searches from February 11 to 17 (2022 The highest value in May was 70).
Block halving refers to the process of reducing the amount of digital currency generated per unit time, mainly by reducing block rewards. To date, the Bitcoin network has experienced three halvings in 2012, 2016, and 2020.
As of press time, there are still 31 days left for Bitcoin’s fourth halving event.
On March 20, SignalQuant cited Cryptoquant data and stated that the trend of the "Taker Buy&Sell CVD" indicator is currently (30DMA) at a very low level, and the number of shorts (Taker) is higher than on November 23 Even more when the FTX crisis occurs. This means that the current market is dominated by bears. However, historical patterns show that after a period of bearish dominance of the market, Bitcoin prices usually trade sideways or stage a sharp rebound.
It is reported that "Taker Buy&Sell CVD" shows the trend of the difference in the number of long and short positions. The indicator also shows 0 as neutral, green areas as bulls outnumber bears, and red areas as bears outnumber bulls. According to Coinglass data, the perpetual contract funding rate for most currencies on the mainstream CEX platform in the current market is still greater than 0.01% (representing that the market is generally bullish).
It is expected that there are still 31 days until Bitcoin's "halving"
On March 20, according to Oklink data, there are currently 31 days left until Bitcoin’s fourth “halving” occurs, with 4,464 remaining blocks.
Block halving refers to the process of reducing the amount of digital currency generated per unit time, mainly by reducing block rewards. To date, the Bitcoin network has experienced three halvings in 2012, 2016, and 2020.
On March 20, according to The Block, due to recent market sentiment, the "Ethereum Spot ETF" was approved Expecting the impact of lowering expectations, Grayscale's ETHE negative premium rate quickly rebounded to 20% (8.17% on March 9), the lowest level since November 2023.
BlockBeats previously reported that Bloomberg ETF analyst James Seyffart said today: “My cautious optimism about Ethereum spot ETFs has changed in recent months. We now believe these applications will ultimately be rejected in the May 23rd round. The U.S. Securities and Exchange Commission (SEC) has not yet communicated with issuers regarding Ethereum specific matters. A complete reversal from last fall’s Bitcoin spot ETF scenario. 》
Aptos Ecological DEX Aries Markets TVL has exceeded US$150 million
On March 20, according to official news, Aptos ecological DEX Aries Markets TVL has exceeded US$150 million.
On March 20, Greeks.live researcher Adam posted on social media that after several days of continuous decline, the volatility of BTC has increased significantly again, and the IVs of all major periods have also reached their highest levels in the past year. The market's expectations for volatility are even higher than during the all-time highs, observing market data, mainly due to the significant increase in the price of short- to medium-term put options Put. At present, the option skew indicator Skew has returned to a neutral state from a significant skew, and the prices of put and call options under the same conditions have returned to the same level. The FOMO sentiment caused by this year's surge has disappeared.
The Fed maintains Interest rates unchanged
On March 21, the Federal Reserve kept its benchmark interest rate unchanged at the range of 5.25%-5.50% for the fifth consecutive time, in line with market expectations. (Golden Ten)
The Federal Reserve maintains expectations for three interest rate cuts in 2024
On March 21, Federal Reserve officials maintained their outlook for three interest rate cuts this year, but due to the recent rise in inflation, their expectations for 2025 Expectations for interest rate cuts have decreased compared with before.
Policymakers said they still plan to cut interest rates for the first time this year, but they now expect only three cuts in 2025, instead of the four forecast in December. Second-rate. The FOMC statement showed that "the Committee believes that risks to achieving its employment and inflation goals are becoming better balanced."
The Fed's post-meeting statement was almost identical to its January statement. Likewise, guidance for a rate cut was maintained, stating that a rate cut would not be appropriate until officials had more confidence that inflation would sustainably move toward the 2% target. (Golden Ten)
Powell: Inflation has eased significantly
On March 21, Federal Reserve Chairman Powell said that the economy has made considerable progress. Inflation has eased significantly. Although progress in lowering inflation continues, uncertainty remains. (Golden Ten)
Powell: Sometime this year It’s time to start easing monetary policy
On March 21, Federal Reserve Chairman Powell said that our policy interest rate may have reached its peak. It would be appropriate to begin easing monetary policy at some point this year. (Golden Ten)
Powell has not yet ruled out the possibility of an interest rate cut in May or June
On March 21, Federal Reserve Chairman Powell has not yet ruled out the possibility of an interest rate cut in May or June (Golden Ten)
Powell vs. Views on inflation reports drive risk assets up
On March 21, the inflation reports for January and February this year triggered market concerns that the Federal Reserve may take longer to start cutting interest rates.
However, Fed Chairman Powell said at the press conference after the meeting that the two reports did not change his view on inflation, and that he believed that inflation was gradually declining. . The stock market has since rebounded, with gains accelerating in recent trading. (Golden Ten)
Powell: It is wrong that the Federal Reserve is studying central bank digital currency
On March 21, Federal Reserve Chairman Powell said that it is wrong that the Federal Reserve is studying central bank digital currency. Legislative authorization is needed to launch a digital dollar.
The Federal Reserve is still a long, long way from launching a central bank digital currency. (Golden Ten)
Grayscale GBTC had a net outflow of US$386 million yesterday
On March 21, according to data from farside investors, Grayscale GBTC had a net outflow of US$386 million on March 20. Currently, Fidelity FBTC and BlackRock IBIT funding data have not been released.
On March 21, according to data from farside investors, Fidelity FBTC had a net inflow of only US$12.9 million yesterday. The U.S. dollar, as well as BlackRock's IBIT, Valkyrie's BRRR and VanEck's HODL capital data have not been released yet. The total net inflow of the three ETFs needs to exceed $323 million to reverse the net outflow situation in the previous two days.
Regulatory News
South Korea’s extradition request for Do Kwon was rejected by the Montenegrin court
On March 20, according to official sources, Montenegro appealed A court has rejected a request by Terraform Labs founder Do Kwon to overturn a ruling granting his extradition to South Korea. Do Kwon's lawyer Goran Rodic said extradition is now final (to the United States) and neither the United States nor Kwon can further appeal the decision. He added that there was no timetable for when he would be extradited. A spokesman for the U.S. Department of Justice did not immediately respond to a request for comment.
Ethereum The foundation is under official investigation by a certain country
On March 20, Coindesk reported that according to content updated on February 26 in the GitHub repository of the organization’s website, the Ethereum Foundation ( Swiss non-profit organization at the heart of the Ethereum ecosystem) is under investigation by a “state authority.” As of press time, the scope and focus of the investigation were unclear because the investigation was subject to a confidentiality agreement. The Ethereum Foundation did not respond to a request for comment.
A lawyer familiar with the situation said that Swiss regulators may have submitted a document request to the Ethereum Foundation and may be working with the U.S. Securities and Exchange Commission (SEC). The lawyer said that the Ethereum Foundation is not the only entity required to submit information, and other overseas entities are also under review.
US SEC Launching a legal campaign to classify Ethereum as a security
On March 21, Fortune reported that the U.S. Securities and Exchange Commission is launching an aggressive legal campaign to classify Ethereum as a security. Classified as a security, the news could further dampen the crypto industry’s hopes that the U.S. Securities and Exchange Commission will approve Ethereum ETF applications from BlackRock and other companies, following the SEC’s approval of a series of Bitcoin ETFs in January. The SEC’s Ethereum investigation involves asking companies to provide any documents and financial records related to transactions with the Ethereum Foundation, the nonprofit organization that oversees the governance and development of the eponymous blockchain.
On March 21, Fortune magazine reported that a company that had recently received a subpoena request The U.S. Securities and Exchange Commission's (SEC) investigation into the Swiss-based Ethereum Foundation began shortly after the blockchain moved to a new governance model called "proof of stake" in September 2022, one person revealed. Proof of Stake moves Ethereum away from the energy-intensive model used by Bitcoin and instead relies on a network of trusted validators, and gives the SEC a new excuse to try to define Ethereum as a security. , according to people familiar with the subpoenas at three different companies. The people asked Fortune not to identify them or their companies out of fear of retaliation from Gary Gensler, the agency's chairman, who some say is "vindictive."
On March 21, Coinbase Chief Legal Officer paulgrewal.eth posted on social media that millions of Americans hold ETH. Since its launch in 2015, ETH has been crucial to the cryptocurrency field. ETH is a It is a commodity, not a security. This is the position that the U.S. Securities and Exchange Commission has taken for many years. The SEC has no sufficient reason to reject the ETH ETP application. The reasons and remarks cited are as follows:
· SEC Corporate Finance Director Hinman once made it clear that ETH is not a security
· Before serving as SEC Chairman, Gary Gensler testified before Congress that ETH is not a security
· The CFTC and the federal court unanimously confirmed that ETH is a security Commodities
· ETH futures contracts will begin trading on CFTC-regulated futures trading platforms in 2021
· The Howey test does not determine the status of ETH·
Even if the Howey test is performed, ETH completely fails the test
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