Rhythmic Morning Post | 10x Research: ETF inflows are lower than expected, which may indicate that the Bitcoin sell-off has just begun; SLERF will create an NFT series to promote refund work
Selected news:
1. SLERF has successfully completed the first refund and will create an NFT series to advance the refund work;
2. Bitcoin This Morning It briefly fell below $65,000;
3. 10x Research: ETF inflows were lower than expected, which may indicate that the Bitcoin sell-off has just begun;
4. Former Binance Labs head: Traditional Wall Street firms are pushing for the approval of an Ethereum ETF;
5. Web3 infrastructure company Succinct completes $55 million in financing, led by Paradigm
Price Watch
Bitcoin briefly fell below US$65,000 this morning
On March 22, according to OKX market data, Bitcoin briefly fell below US$65,000 this morning and then rebounded. It is now quoted at US$65,522.86. The 24-hour drop was 3.38%.
Project News
Slerf completed the first refund, totaling 3,800 SOL
On March 22, Slerf and LBank successfully completed the refund The first refund, totaling 3,800 SOL, has been returned to early small-scale fundraisers. In addition, Slerf will airdrop rewards to all donors after the event.
SLERF: An NFT series will be created to promote refunds
On March 21, Meme project SLERF stated in its new Discord community that an NFT series will be created to promote refunds for pre-sellers Raise remaining funds and donations.
DeFi options protocol Opyn announced that it will Transforming into a sustainable DEX protocol
On March 21, the DeFi options protocol Opyn announced that it will transform into a sustainable DEX protocol and will provide services such as leverage trading, stablecoins, lending, and spread trading. .
Whales Market The AI project launched by the founder has opened for pre-sale result query
On March 21, according to official news, the AI project gm.ai launched by Whales Market founder dexter has opened for pre-sale result query . Users can use Dune to check whether they successfully participated in the pre-sale or whether they were refunded. According to previous news, on March 18, dexter raised 155,364 SOL (approximately US$32 million) for its new AI project.
On March 21, according to the official announcement, YGG tokens will be released to the Pacific on March 21, 2024 The Ronin network will be launched at 8 a.m. standard time (PST). At the same time, YGG will airdrop the pledged wallet address to the YGG verification node of the Ronin network. The snapshot was completed on March 11. 1,376,579 YGG tokens will be allocated to 8,861 eligible wallets.
BNB Chain "Airdrop Alliance Plan" announced project airdrop allocation details
On March 21, BNB Chain published a blog to clarify the airdrop allocation details for participating projects in the "Airdrop Alliance Plan". Among them, StarryNift will airdrop 300,000 StarryNift tokens, zkPass will airdrop 4 million ZKP points (1 ZKP point can be exchanged for 1 ZKP token), KiloEx will airdrop 1 million KILP tokens, and GombleGames will airdrop 6 billion Mystery marbles. Web3Go will airdrop 100 million Wafer points, Cellula will airdrop 1.1 million CELL tokens, and Ultiverse will airdrop 50 million SOUL (every 100 SOUL can be exchanged for 1 Ultiverse token). Previously, BNB Chain announced the details of the "Airdrop Alliance Plan". The newly disclosed details include the first batch of project alliance plan lists, as well as the designated "snapshot time" for BSC (BNB Smart Chain) and opBNB to trace users. Users of BSC and opBNB from 16:00 on August 1, 2023 to 16:00 on March 19, 2023 will receive airdrops.
CeFi Information
On March 22, according to the official announcement, Coinbase has listed Ronin (RONIN), and customers can buy, sell, convert, send, receive or store Ronin (RONIN).
Opinion data
Spot Bitcoin ETF Yesterday Net outflow was US$332.1 million, net outflow for 4 consecutive days
On March 22, according to data from Farside Investors, spot Bitcoin ETF had a net outflow of US$332.1 million yesterday, net outflow for 4 consecutive days, of which : Grayscale GBTC had a net outflow of US$358.8 million. Bitwise BITB has a net inflow of US$12 million; ARK 21Shares' ARKB has a net inflow of US$2 million; Franklin EZBC has a net inflow of US$3.8 million; VanEck HODL has a net inflow of US$1.8 million; Fidelity FBTC has a net inflow of US$2.9 million, creating a new transaction The lowest daily inflow record.
Bernstein: Bitcoin year-end goals Price raised to US$90,000
On March 21, analyst firm Bernstein said in a research report on Thursday that it would raise its year-end Bitcoin price forecast from US$80,000 to US$90,000. Dollar. At the same time, the agency also significantly raised its target price on Bitcoin mining stocks, with CleanSpark’s target price raised from $14.20 to $30. Marathon Digital raised its price target to $23 from $14.30. (CoinDesk)
Former Binance Labs head: Traditional Wall Street firms are pushing for Ethereum ETF to be approved
On March 21, Bill Qi, chairman of Cypher Capital and former Binance Labs global head of financing, said: “Now It’s not people in the crypto community pushing for ETF approval, it’s Wall Street firms doing their best to make it happen. The main lobbyists for an Ethereum ETF will be institutional asset managers. It’s in their best interest to launch an ETF and get ETF approval , because they are in the AUM (Assets Under Management) game, and in order to increase AUM, they need to get approval from the ETF." (Cointelegraph)
Grayscale's Bitcoin holdings drop 45% since January
On March 21, Bitcoin News statistics showed that Grayscale’s Bitcoin holdings have dropped by 45% since January and are currently 355,688 BTC.
On March 21, 10x Reaearch founder Markus Thielen said that recent inflows into Fidelity and BlackRock’s Bitcoin spot ETFs were lower than expected, which may indicate that the Bitcoin sell-off has just begun. If ETF outflows continue next week, Bitcoin could fall below $60,000. But in the long term, Markus Thielen is still optimistic. Even if it cannot break through the $100,000 mark, Bitcoin will still hit $83,000 in the future.
Financing Express
Web3 infrastructure company Succinct completed US$55 million in financing, led by Paradigm
On March 22, according to official news , Web3 infrastructure company Succinct completed US$55 million in financing, led by Paradigm. Participating investors include Robot Ventures, Bankless Ventures, Geometry, ZK Validator, and angel investors including Sreeram Kannan from Eigenlayer, Sandeep Nailwal and Daniel Lubarov from Polygon, and Elad Gil. Succinct’s Prover Network and SP1 enable universal ZK to be high-performance and easy to deploy without complex infrastructure.
Web3 privacy system Espresso completed US$28 million in Series B financing, led by a16z crypto
On March 22, Web3 privacy system Espresso announced the completion of a $28 million Series B financing, led by a16z crypto. Polygon, Taiko, o1Labs, StarkWare, Offchain Labs, and core contributors and strategic investors from more than 30 notable ecosystem projects covering Rollups, L2 infrastructure, interoperability, and more also participated in the round. The new funding will be used to continue product development, expand investment in the rollup ecosystem, and expand the scale of the Espresso Systems team. BlockBeats previously reported that in March 2022, Espresso Systems completed $32 million in financing, led by Greylock Partners and Electric Capital, with participation from Sequoia Capital, Blockchain Capital and Slow Ventures. Espresso Systems is developing layer 1 blockchain infrastructure to provide fast, low-fee transactions by integrating the proof-of-stake consensus protocol with the zk rollup mechanism. The project’s Configurable Asset Privacy for Ethereum (CAPE) smart contract application is designed to provide creators with customizable privacy regarding sender and receiver addresses, as well as the amount and type of assets held or moved. It will support the creation and packaging of ERC-20 Token, and will also support NFT, etc. in the future.
Dutch cryptocurrency trading platform CoinMart Received US$3 million investment from IDG Capital
On March 21, the European cryptocurrency trading platform CoinMart received a US$3 million investment from IDG Capital, and the two parties also established a strategic partnership. It is reported that this is also IDG Capital’s first investment in a regulated cryptocurrency trading platform in Europe. The new funds will be used to promote the development of CoinMart’s artificial intelligence platform and recruit talents to respond to changes in European MICA regulatory policies.
Moondance Labs Completed US$6 million in strategic financing, led by Scytale Digital, KR1 and SNZ
On March 21, Moondance Labs, the developer of the application chain infrastructure protocol Tanssi Network, announced the completion of US$6 million in strategic financing. Scytale Digital, KR1 and SNZ co-led the investment, with participation from Arrington Capital, Borderless Capital, Hypersphere, Blockchain Founders Fund and angel investor Gavin Wood. Funds from this round will be used to expand the Moondance Labs team and further develop Tanssi. In addition, Tanssi plans to launch an incentivized testnet campaign. Previous news in May 2023, Moondance Labs announced the completion of a US$3 million seed round of financing, led by Arrington Capital, with participation from Borderless Capital, HashKey Capital, D1 Ventures, Hypersphere, C² Ventures and Jsquare.
On March 21, according to The Block, Bit island, the developer behind the decentralized social trading protocol Bi.social, announced the completion of a $3 million round of financing, with participation from Web3Vision, WAGMi Ventures and QF Capital. The funds will support the continued development of the social protocol and its upcoming features. It is reported that Bi.social is a Web3 social trading platform that enables users to discover trading signals, follow experienced traders, and participate in trading activities through a decentralized social trading application. The platform has more than 390,000 wallet-logged users and more than 16,000 creators who have published more than 180,000 pieces of content.
On March 21, according to official news, Web3 application user participation incentive protocol Metaverse Headquarters (MVHQ) announced the completion of a $1.1 million seed round. With a USD seed round of financing led by Consensys and Polygon, MVHQ will further simplify and incentivize user participation in Web3 applications and promote cooperation with Blast, Magic Eden, Flow and Berachain, etc. In addition, it will also be introduced through tasks Agreements and incentives.
On March 21, decentralized AI startup Tensorplex Labs completed a US$3 million seed round of financing. This round of financing was led by Canonical Crypto and Collab+Currency, with DCG, Quantstamp and Amber Group and others participated in the investment. Tensorplex Labs will use the new funds to build new types of capital and intelligent infrastructure and applications, aiming to accelerate the development of open, decentralized artificial intelligence networks such as Bittensor.
On March 21, OpenStamp, a comprehensive service platform based on the STAMP protocol, announced that it had completed a seed round of financing at a valuation of US$50 million. , Animoca Ventures led the investment, with participation from KuCoin Ventures, MH Ventures, VitalTao Capital, Lotus Capital, Brotherhood Ventures, Blue Node Capital, D64 Ventures, Luminescence Capital, Spicy Capital, Halvings Capital, SPEC Capital and YM Capital. The specific financing amount has not been announced yet. OpenStamp offers a variety of products including Mint/Deploy services, SRC-20/SRC-721 marketplaces, Indexer, Explorer, and Launchpad. OpenStamp is poised to revolutionize Bitcoin trading with its upcoming BTC Layer 2 solution. The solution leverages Nervos CKB’s breakthrough technology and RGB++ protocol, leveraging the UTXO Stack based on CKB’s underlying technology.
Regulatory News
Estonia approves a bill to regulate encryption service providers
On March 22, according to Cointelegragh, Estonia has approved A bill to regulate cryptocurrency service providers still needs to pass a vote in parliament. Under the legislation, crypto service providers will be regulated by the Financial Supervisory Authority (FSA). Currently, these providers are registered by the Financial Intelligence Unit (FIU) and must comply with anti-money laundering (AML) rules. The FSA will begin issuing licenses in 2025, and FIU licensees must apply for an FSA license by the end of that year. The new bill will bring Estonia into compliance with EU Markets in Crypto-Assets (MiCA) regulations.
Montenegro Supreme Court to investigate Do Kwon extradition case
On March 22, according to market news, the Supreme Court of Montenegro will investigate the extradition case of Terra co-founder Do Kwon.
On March 21, according to court documents, the US government’s total claims against the bankrupt cryptocurrency trading platform FTX are expected to be in the range of US$30 billion. to US$5 billion, although the exact amount is subject to change and subject to negotiation with relevant authorities. At the same time, under relevant regulations, claims from FTX customers, Alameda Research lenders, administrative fees and non-governmental creditors are prioritized ahead of government and tax claims. (The Block)
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