Rhythm Morning News | Tether's net profit last year was US$6.2 billion, with only a hundred employees; Grayscale GBTC had a net outflow of about US$303.3 million yesterday
Featured News:
1. Runestone's floor price rises to 0.085 BTC, with a market value of over $682 million;
2. Tether's net profit in 2023 is $6.2 billion, with only a hundred employees;
3. Whales Market founder's AI project gm.ai's official website is officially launched;
4. SEC postpones decision on Bitwise and Grayscale's Bitcoin spot ETF options trading applications;
5. Grayscale GBTC had a net outflow of approximately $303.3 million yesterday
Price Observation
ENA rose above $1.36, setting a new record
April 9 On April 9, according to market data, ENA rose above $1.36, with a 24-hour increase of 15.4%, setting a new record high.
TON rose to $6.5, setting a new record high
On April 9, according to OKX market data, TON rose to $6.5, setting a new record high. It has now fallen slightly to $6.37, with a 24-hour increase of more than 20%.
Ethereum breaks through $3,700, up 8.2% in 24 hours
On April 9, according to OKX market information, Ethereum broke through $3,700 and is now quoted at $3,716, up 8.2% in 24 hours.
Gearbox (GEAR) briefly broke through $0.03, up 29.06% in 24 hours
On April 9, according to market data, Gearbox (GEAR) briefly broke through $0.03 and is now quoted at $0.02931, up 29.06% in 24 hours.
DEGEN broke through $0.046, up 48.37% in 24 hours
On April 8, according to market data, DEGEN broke through $0.046 and is now quoted at $0.04605, up 48.37% in 24 hours.
ENA rose to $1.33, a record high
On April 8, according to market data, ENA rose to $1.33 and is currently quoted at $1.319, up 10.14% in 24 hours, a record high.
Transaction Tracking
One address claimed 712,348 TNSR airdrops, about 1.5 million US dollars
On April 9, according to Lookonchain monitoring, one address claimed 712,348 TNSR airdrops, about 1.5 million US dollars. Previously, the address also claimed 45,651 W (about 45,000 US dollars).
On April 8, according to @ai_9684xtpa monitoring, a whale withdrew 5.72 million ENA from Binance at an average price of 1.28 US dollars, and then deposited all of them into Ethena for pledge, about 7.34 million US dollars.
Project News
Official website of gm.ai, the AI project of Whales Market founder, is officially launched
On April 9, according to official news, the official website of gm.ai, the AI project launched by dexter, the founder of Whales Market, has been officially launched, and the official gateway access of the gmAI ecosystem will be launched soon.
Degen and Syndicate launch "Deploy on Degen Week", offering over 10 million DEGEN tokens as rewards
On April 9, Degen and Syndicate announced a partnership with 1confirmation, SeedClub and other companies to launch the "Deploy on Degen Week" event. The week-long online event aims to accelerate developer construction on the Degen chain. Degen will provide 10 million DEGEN tokens as rewards, and Syndicate and 1confirmation will each provide 250,000 DEGEN tokens. Developers must submit their applications by this Friday (April 12), and teams that have deployed projects or completed integrations on the Degen chain can also participate.
Metis will activate the second phase of the decentralized sorter upgrade
On April 9, Metis announced that it would activate a hard fork at block 16,500,000 in about 7 days to complete the second phase of the decentralized sorter upgrade. Metis has previously added multiple nodes to the sorter pool and introduced sorter rotation in the first phase, greatly improving the network's anti-censorship capabilities and activity. The second phase of this upgrade will introduce features such as multiple transactions in a single block, transaction pools, and sorter rewards, making Metis the first Ethereum second-layer expansion solution to achieve decentralization of the sorter.
Saga announces the launch of the first phase of the mainnet, focusing on building a secure chain
On April 9, the modular blockchain platform Saga announced that its mainnet will enter the first phase. This phase will launch Saga's security chain, which is the foundation of the platform's operations and aims to provide a secure infrastructure for activities such as staking, mining, and airdrops, and create a safe environment for developers and users to participate in the platform. Saga adopts a progressive multi-stage mainnet launch strategy. In the subsequent second to sixth phases, the platform chain, shared security, external validators, and penalty mechanisms will be gradually introduced.
Tensor announces TNSR token economics, initial airdrop accounts for 12.5%
On April 8, Solana ecosystem NFT market Tensor announced TNSR token economics. The total supply of TNSR is 1 billion, and the initial TNSR distribution is as follows: 550 million (55%) TNSR is allocated to the community, of which 12.5% is the initial airdrop; 270 million (27%) TNSR is allocated to core contributors; 90 million (9%) TNSR is allocated to investors and consultants; 90 million (9%) TNSR is used for future fundraising and development reserves.
CeFi News
Coinbase will launch Tensor (TNSR)
On April 8, according to the official announcement, Coinbase will add support for Tensor (TNSR) on the Solana network (SPL token).
Viewpoint Data
Data: Farcaster protocol revenue exceeds 1 million US dollars
On April 8, according to Dune data, the total revenue of the decentralized social protocol Farcaster has exceeded 1 million US dollars, currently reaching 1,005,421 US dollars.
Base network TVL exceeds 4.5 billion US dollars, setting a new record
On April 9, according to L2BEAT data, Base network TVL rose to 4.52 billion US dollars, setting a new record, with a 7-day increase of 22.38%.
Runestone's floor price rose to 0.085 BTC, and its market value exceeded US$682 million
On April 9, according to Coingecko data, Runestone's floor price rose to 0.085 BTC (approximately US$6,074), a 24-hour increase of 19.7%, and its market value exceeded US$682 million. It ranked second in the NFT market value ranking, second only to CryptoPunks (US$1.551 billion).
Tether's net profit in 2023 is $6.2 billion, and the number of employees is only 100
On April 9, Bitwise President Teddy Fusaro cited Maelstrom data and said that the net profit of stablecoin issuer Tether in 2023 was about $6.2 billion, reaching 78% of Goldman Sachs ($7.9 billion) and 72% of Morgan Stanley ($8.5 billion). However, Tether has about 100 employees, while Goldman Sachs and Morgan Stanley have 49,000 and 82,000 employees, respectively.
Yesterday, Bellet IBIT had a net inflow of only $21.3 million
On April 9, according to Tree News, Bellet IBIT had a net inflow of only $21.3 million yesterday.
Grayscale GBTC had a net outflow of approximately $303.3 million yesterday
On April 9, according to Farside Investors data, Grayscale's GBTC had a net outflow of approximately $303.3 million yesterday. Among the data currently released, Bitwise's BITB had a net inflow of $40.3 million, ARK Invest's ARKB had a net inflow of $9.3 million, and the relevant data for BlackRock's IBIT and Fidelity's FBTC have not yet been released.
On April 9, BitMEX co-founder Arthur Hayes predicted in his latest blog post "Heatwave" that from mid-April to early May, the US taxation will withdraw market liquidity, and the Fed's continued balance sheet reduction will cause the market to be extremely weak. However, since May 1, as the Fed slows down the pace of balance sheet reduction and the US Treasury uses funds to stimulate the market, a new round of crypto bull market is expected to begin. Hayes pointed out that the Federal Reserve has "transfused" the banking system in disguise by relaxing bank capital requirements, allowing it to hold more Treasury bonds. The U.S. Treasury has also been issuing more short-term Treasury bonds to absorb trillions of dollars of idle funds in the Federal Reserve Bank's reverse repurchase facility. Both measures are conducive to improving market liquidity.
However, Hayes expects that the tax deadline on April 15 will withdraw a lot of funds from the system. At the same time, the Federal Reserve is still continuing to shrink its balance sheet by $95 billion per month. In addition, the halving of Bitcoin's block rewards expected on April 20 may lead to short-term oversold, which will bring huge pressure to the market. Hayes advises investors to act cautiously in April and be bold after May. He revealed that he has closed his positions in tokens such as MEW, SOL, and NMT for profit, and transferred the funds to the USDe stablecoin on the Ethena platform for pledge. Hayes said that if he can avoid the risk of losses in April, he will have enough ammunition to establish various crypto asset positions in May and fully enjoy the bull market dividends.
Financing Express
On April 8, according to The Block, blockchain expansion infrastructure provider Lumoz (formerly Opside) completed US$6 million in financing with a valuation of US$120 million, with participation from OKX Ventures, HashKey Capital, KuCoin Ventures, Comma3 Ventures, Kronos Ventures, Kernel Ventures and Polygon co-founder Sandeep Nailwal.
Lumoz co-founder Jeffrey Yang said the round began raising in February and ended in March, a Simple Agreement for Future Tokens (SAFT) round.
Regulatory News
SEC Delays Decision on Bitwise and Grayscale Bitcoin Spot ETF Options Trading Application
On April 9, the U.S. Securities and Exchange Commission (SEC) announced that it would delay its decision on whether to approve the New York Stock Exchange (NYSE) to offer options trading on a Bitcoin spot ETF. The postponement affects options trading applications for the Bitwise Bitcoin ETF (BITB), Grayscale Bitcoin Trust (GBTC), and other trust funds that hold Bitcoin on the NYSE.
The SEC stated in the document that "the Commission believes that it is appropriate to specify a longer period of time to act on the proposed rule changes so that there is sufficient time to consider the proposed rule changes." The SEC will approve, reject or postpone the NYSE's proposed rule changes on Bitcoin ETF options trading by May 29.
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