Weekly Selection | Trump Announces Acceptance of Cryptocurrency Donations; Over $500 Billion Rushes into the US Bitcoin Spot ETF; Market Volatility Persists, What Stage Are We In?

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Macro Perspective

Viewpoint: This bull market is different from the past, expectations should be lowered

In this cycle, excluding the total market value of cryptocurrencies other than Bitcoin and Ethereum, it will not exceed twice the new high of the bull market in 21 years, with a maximum value of about 2.2 trillion US dollars.

Latest blog post by Arthur Hayes: The US has started to indirectly print money, Bitcoin will resume its rise in August

"Bitcoin will fluctuate between 60,000 and 70,000 until August."

On the eve of SEC approval, why did Grayscale withdraw its Ethereum futures ETF application?

Behind Grayscale's withdrawal of the Ethereum futures ETF is the intention to increase the approval rate of the spot ETF, or to reapply after modification, or to prepare for litigation like GBTC?

Bullish on on-chain data: More HODLers emerging, BTC inflows to exchanges drop to near decade-low

CryptoQuant analyst Axel Adler pointed out that long-term holders (LTH) have stopped selling tokens and started accumulating again, which has historically been a bullish sign.

Grayscale's April Market Report: Macro storm is coming, why is the crypto market bullish against the trend?

With the overall macro market environment remaining stable, cryptocurrency prices are expected to see new upward momentum in the second half of 2024.

Bitcoin Ecosystem

Record-breaking floor price, what makes BLOB initiated by Ordinals OG stand out?

In line with the idea of creating a community dominated by scientists, artists, digital punks, developer community leaders, and selfless contributors, Ordinals' two elders @Elocremarc and @nurorealm founded the BLOB project and set it up for free minting.

Decoding BTC L2 in the Western camp: Mezo, BOB, and Spiderchain

What are their advantages and disadvantages? What impact will they have on the Bitcoin ecosystem?

"New plate-making machine" Babylon: Embracing a bubble feast of BTC Restaking

BTC restaking will create an unprecedented bubble in the Bitcoin ecosystem, but before the bubble bursts, please enjoy and embrace it.

Zulu, a seed player in the BTC ecosystem: pioneering a dual-layer structure based on UTXO

If a new project based on UTXO suddenly takes off, Zulu is one of the few in the market that supports UTXO and can simultaneously support both the EVM and UTXO ecosystems.

Ethena in the BTC ecosystem? Decoding BounceBit, Binance's first project in the Megadrop

BounceBit is a re-staking (Restaking) foundational layer in the Bitcoin (BTC) ecosystem. In its design, it collaborates deeply with Binance to create high-yield CeDeFi components.

For more related content, please see the topic: "Beyond Digital Gold: BRC-20 and Inscriptions, Opening a New Chapter for Bitcoin."

Seizing Opportunities

A quick look at the 10 potential altcoins held by a16z, BlackRock, and Coinbase

Covering lending, NFTs, trading, memes, and other tracks, including COMP, ISP, ZRX, LCX, BLUR, MOG, etc.

Deconstructing the top KOL investment list in the past six months, what opportunities lie within?

The investment targets are mainly focused on gaming, social, and BTC L2 network hot tracks.

A quick look at the 8 projects shortlisted for the ETHGlobal Sydney finals

The 8 projects are Relief Link, HoverChain, Retake//Regen, Cache Coherence, 0xPoll, Roman Kyoto, Zeke, and AlibudaHabitBuilder.

Decoding friend.tech V2 after token issuance: new opportunity or old trick?

The current FT V2 version seems to lack some key features.

After a big drop, which tracks and projects should be closely watched?

Don't live on Twitter, focus on project fundamentals.

Web3 Insights

Analysis of the current status of zkSync data: with profits significantly reduced, the airdrop effect fails, and the official inaction leads to an ecological lag

This article reviews zkSync's data for the year and finds that while zkSync still maintains a leading market size, user participation willingness is decreasing, and profit capture is significantly reduced. This is closely related to its continuous years of airdrop PUA, poor quality of ecological projects, and neglect of user rights.

Sun Yuchen's on-chain operations inventory: "Gold mining" restaking EigenLayer and Swell L2, bottom-fishing ETH

Wallets associated with Tron founder and CEO Sun Yuchen have been the top scorer in Puffer Finance since February and became the top recipient of EigenLayer's airdrop in April. On May 4th, Sun Yuchen also deposited 120,000 eETH into the Ethereum liquid staking protocol Swell L2, worth $376 million. This transfer of eETH accounts for 46.6% of the total deposits in Swell L2.

Over $50 billion swept up in the US Bitcoin spot ETF: asset management companies are the main subscribers, with multiple Hong Kong institutions making the list

Recently, with the continuous release of the US 13F (institutional holdings report), the positions of institutions participating in the "sweeping" of Bitcoin spot ETFs have also been exposed. So, how is the market development of Bitcoin spot ETFs? Which ETF products have investment giants allocated to, and what investment signals have they released?

Excessive points lead to collective pessimism, the "trickery" of point systems requires a return to sincere airdrops

Behind the high funding and user participation in point projects is a premium on market sentiment. Once market sentiment reverses, it will be difficult to sustain, so when designing point projects, more emphasis should be placed on transparency and fairness in information, as well as a more comprehensive capture of community user contributions.

The Lamborghini incident triggers a dispute between Binance and DWF Labs: what is the ongoing battle between market makers?

From He Yi's response, this incident seems to have been sparked by a struggle between market makers, with competitors likely releasing some negative news in the media to attack market-making institutions like DWF Labs.

Pump, We.Rich driving mass token issuance, how many steps does it take to create a meme with a market value of over a billion?

With the emergence of Pump-like products, does this mean players can turn from being "sheep" to wielding a sickle? PANews experiments have shown that while Pump simplifies the token issuance process and costs to a minimum, achieving a dream of a hundredfold coin may be difficult.

Before token issuance, LayerZero calls out to "witches": "Surrender" to retain 15% token share

Although LayerZero's final announcement seems to indicate that tokens will indeed be issued, multiple rounds of witch screening activities are required first.

Technical Insights

Fully Homomorphic Encryption (FHE) praised by Vitalik: explaining its application potential in 5000 words of plain language

"FHE is the holy grail of cryptography. Over time, FHE will reshape the structure of all computations, whether in web2 or web3."

Movement research report: Move-based zk-Rollup, connecting liquidity between EVM ecosystem

Movement is a modular framework for building and deploying infrastructure, applications, and blockchains based on Move in any distributed environment.

Technical explanation of BitVM bridge and OP-DLC: design ideas for the new generation of Bitcoin Layer2 cross-chain bridges

In this article, we will briefly analyze Bitlayer and Citrea's BitVM bridge, and introduce OP-DLC bridge proposed by Bitlayer to address the shortcomings of BitVM bridge. Understanding the risks and design ideas of cross-chain bridges is crucial for a wide range of participants in the Bitcoin ecosystem.

Vitalik's new work: What is multi-dimensional Gas pricing?

Vitalik discusses Ethereum's multi-dimensional Gas pricing and how to balance and choose?

Key Information

Trump announces he is accepting cryptocurrency donations for his US presidential campaign

Tiger Brokers (Hong Kong) officially launches virtual asset trading services, currently only available to professional investors

Robinhood receives notice from the US SEC regarding its cryptocurrency business operations

SEC Chairman: The crypto market is a major fraud area, investors are not adequately informed

Important Information Disclosure

Almost all customers of FTX will withdraw all their funds

Visa Research Report: Over 90% of stablecoin trades are not from real users

US House of Representatives passes resolution aimed at overturning SEC's crypto accounting policies

US CFTC Chairman: A wave of cryptocurrency enforcement actions expected in the next two years

MetaMask introduces 'Smart Transactions' feature to combat MEV attacks

EU considers including cryptocurrencies in a €12 trillion investment market, with potential impact surpassing US ETFs

Uniswap founder calls for an end to premature high valuations: Crypto projects need to prove value before discussing unicorns