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Crypto Quick Take on May 11
1. Mainstream projects & hot event trends:
- LayerZero releases a Protocol RFP proposal, the first step in determining TGE allocation.
- EigenLayer Season1 has issued 130 million EIGEN to users, and the pledged amount has reached 9 million.
- Merlin Chain officially issued a statement stating that all assets of Merlin's Seal can be unpledged (BTC, Bitmap, BRC-20, BRC-420, ORDI-NFT, USDT, USDC, ETH).
- Bitmain announced its cooperation with the CKB Ecological Fund to help make CKB’s computing power more secure and decentralized.
- Pantera’s investment in the TON blockchain project may exceed US$250 million.
- Ethena releases a 2024 roadmap that will reshape and drive the integration of DeFi, CelFi and TradFi, and connect them together through USDe.
2. Financing information updates:
- Blast ecological Web3 game BAC Games completed a US$1.5 million seed round of financing, with Hash Global, Matr1x, GateLabs, Stratified Capital, W Labs, Nothing Research and others participating in the investment.
3. Regulatory information updates:
- The U.S. Congress may vote on new legislation for the crypto industry before the end of May. The legislation aims to provide a clear regulatory framework for digital assets and address long-standing market oversight and consumer protection issues.
- The Financial Supervisory Service of South Korea (FSS) has confirmed that the "Virtual Asset User Protection Act" will include token delisting standards.
1. Mainstream projects & hot event trends:
- LayerZero releases a Protocol RFP proposal, the first step in determining TGE allocation.
- EigenLayer Season1 has issued 130 million EIGEN to users, and the pledged amount has reached 9 million.
- Merlin Chain officially issued a statement stating that all assets of Merlin's Seal can be unpledged (BTC, Bitmap, BRC-20, BRC-420, ORDI-NFT, USDT, USDC, ETH).
- Bitmain announced its cooperation with the CKB Ecological Fund to help make CKB’s computing power more secure and decentralized.
- Pantera’s investment in the TON blockchain project may exceed US$250 million.
- Ethena releases a 2024 roadmap that will reshape and drive the integration of DeFi, CelFi and TradFi, and connect them together through USDe.
2. Financing information updates:
- Blast ecological Web3 game BAC Games completed a US$1.5 million seed round of financing, with Hash Global, Matr1x, GateLabs, Stratified Capital, W Labs, Nothing Research and others participating in the investment.
3. Regulatory information updates:
- The U.S. Congress may vote on new legislation for the crypto industry before the end of May. The legislation aims to provide a clear regulatory framework for digital assets and address long-standing market oversight and consumer protection issues.
- The Financial Supervisory Service of South Korea (FSS) has confirmed that the "Virtual Asset User Protection Act" will include token delisting standards.
The US Bitcoin spot ETF had a net outflow of 84.7 million dollars yesterday
According to data from Farside Investors, the net outflow of Bitcoin spot ETF in the United States yesterday was $84.7 million, including: IBIT with a cumulative net inflow of $15.5025 billion; FBTC with a cumulative net inflow of $8.1414 billion; BITB with a cumulative net inflow of $1.7664 billion; ARKB with a cumulative net inflow of $2.2491 billion; GBTC with a cumulative net outflow of $17.6329 billion.
According to data from Farside Investors, the net outflow of Bitcoin spot ETF in the United States yesterday was $84.7 million, including: IBIT with a cumulative net inflow of $15.5025 billion; FBTC with a cumulative net inflow of $8.1414 billion; BITB with a cumulative net inflow of $1.7664 billion; ARKB with a cumulative net inflow of $2.2491 billion; GBTC with a cumulative net outflow of $17.6329 billion.
The airdrop of EIGEN tokens has been claimed over 23.82 million times, with a total pledge amount reaching 12.03 million
Dune data shows that since the opening of the first phase, season one EIGEN airdrop application at 1 am today, the number of applications has exceeded 23,826,689. The current number of addresses participating in the application is 52,040. There are still 51,487,412 tokens unclaimed in this stage. In addition, the total number of EIGEN tokens staked is 12,037,893 and there are currently 12,230 stakers for EIGEN tokens.
Dune data shows that since the opening of the first phase, season one EIGEN airdrop application at 1 am today, the number of applications has exceeded 23,826,689. The current number of addresses participating in the application is 52,040. There are still 51,487,412 tokens unclaimed in this stage. In addition, the total number of EIGEN tokens staked is 12,037,893 and there are currently 12,230 stakers for EIGEN tokens.
Recently, 4 PEPE whales have increased their holdings by approximately 649.1 billion PEPE
According to Lookonchain monitoring, multiple whales have increased their holdings of PEPE. Among them: Address 0xa145 withdrew 350 billion PEPE (worth $3.44 million) from CEX 10 hours ago. This whale is good at swing trading PEPE and has made a profit of about $2.66 million on PEPE;
Address 0xa4Fd spent 1.09 million USDC to buy 123.66 billion PEPE at an average price of $0.00000881 per coin,13 hours ago;
Address 0x895f1 withdrew 101 billion PEPE (worth $885,000) from CEX three hours ago;
Address 0x24E3 spent 661 thousand USDC to buy74.5 billion PEPE at an average price of $0.000008873 per coin one hour ago.
According to Lookonchain monitoring, multiple whales have increased their holdings of PEPE. Among them: Address 0xa145 withdrew 350 billion PEPE (worth $3.44 million) from CEX 10 hours ago. This whale is good at swing trading PEPE and has made a profit of about $2.66 million on PEPE;
Address 0xa4Fd spent 1.09 million USDC to buy 123.66 billion PEPE at an average price of $0.00000881 per coin,13 hours ago;
Address 0x895f1 withdrew 101 billion PEPE (worth $885,000) from CEX three hours ago;
Address 0x24E3 spent 661 thousand USDC to buy74.5 billion PEPE at an average price of $0.000008873 per coin one hour ago.
Eigenpie: The upcoming EGP token will be issued at a FDV of 3 million US dollars
The liquidity re-pledging platform Eigenpie stated on the X platform that it is being developed in a community-driven manner. The upcoming EGP token will be issued with an FDV (Fully Diluted Valuation) of 3 million US dollars. According to DefiLlama data, Eigenpie's TVL (Total Value Locked) is currently about 797 million US dollars, with a one-day drop of 3.05% and a seven-day increase of 45.12%.
The liquidity re-pledging platform Eigenpie stated on the X platform that it is being developed in a community-driven manner. The upcoming EGP token will be issued with an FDV (Fully Diluted Valuation) of 3 million US dollars. According to DefiLlama data, Eigenpie's TVL (Total Value Locked) is currently about 797 million US dollars, with a one-day drop of 3.05% and a seven-day increase of 45.12%.
Tether froze 680,158.7 USDC on two addresses two hours ago
According to MistTrack monitoring, Tether froze 680,158.7 USDC on two addresses two hours ago.
According to MistTrack monitoring, Tether froze 680,158.7 USDC on two addresses two hours ago.
PEPE's market value surpasses APT, ranking 31st with a market capitalization exceeding 3.7 billion US dollars
According to Coingecko data, PEPE's market capitalization has exceeded $3.7 billion, surpassing APT (with a market value of about $3.6 billion), ranking 31st in the cryptocurrency market value leaderboard.
According to Coingecko data, PEPE's market capitalization has exceeded $3.7 billion, surpassing APT (with a market value of about $3.6 billion), ranking 31st in the cryptocurrency market value leaderboard.
Capriole Investments Founder: Bitcoin's sideways trend could last 1-6 months
Charles Edwards, the founder of cryptocurrency hedge fund Capriole Investment, stated in X that Bitcoin is currently in a "boring to death" phase. This sideways consolidation period could last from one to six months, during which Bitcoin will fluctuate within a low volatility range until market participants lose patience. The market sentiment will be at its most negative before the consolidation ends.
Charles Edwards said: "When you get tired enough of the sideways fluctuations, common symptoms include thinking that halving has been priced in, the bull market is over and selling stocks at the bottom. Your symptoms and bearishness will peak before a big rise."
Charles Edwards, the founder of cryptocurrency hedge fund Capriole Investment, stated in X that Bitcoin is currently in a "boring to death" phase. This sideways consolidation period could last from one to six months, during which Bitcoin will fluctuate within a low volatility range until market participants lose patience. The market sentiment will be at its most negative before the consolidation ends.
Charles Edwards said: "When you get tired enough of the sideways fluctuations, common symptoms include thinking that halving has been priced in, the bull market is over and selling stocks at the bottom. Your symptoms and bearishness will peak before a big rise."
Ethereum core developers release EOF Meta EIP-7692
Ethereum core developers have released the Meta EIP of Ethereum Virtual Machine (EVM) Object Format (EOF), which consists of about 11 EIPs, aiming to add an optional container for EVM code to enhance code verification and introduce new features. The Meta EIP serves as a core proposal, including modifications to the execution layer and consensus layer for coupled upgrades. EIP-7692 outlines the scope of the initial version of EOF, known as Mega EOF. The next upgrade version Pectra of Ethereum has already included six EIPs, and is currently considering incorporating EOF into it. In the upcoming ACDE call, developers will decide whether it is possible to include EIP-7702, an account abstraction update proposed by Vitalik Buterin.
Ethereum core developers have released the Meta EIP of Ethereum Virtual Machine (EVM) Object Format (EOF), which consists of about 11 EIPs, aiming to add an optional container for EVM code to enhance code verification and introduce new features. The Meta EIP serves as a core proposal, including modifications to the execution layer and consensus layer for coupled upgrades. EIP-7692 outlines the scope of the initial version of EOF, known as Mega EOF. The next upgrade version Pectra of Ethereum has already included six EIPs, and is currently considering incorporating EOF into it. In the upcoming ACDE call, developers will decide whether it is possible to include EIP-7702, an account abstraction update proposed by Vitalik Buterin.
Aptos Q1 Report: Aries Markets TVL increased by 714% to $249 million, becoming the protocol with the highest TVL in Aptos
Aptos released its Q1 2024 report, with Aptos's DeFi TVL increasing by 376% quarter-on-quarter to $573 million. Driven by the incentive program, the lending protocol Aries Markets' TVL increased by 714% quarter-on-quarter to $249 million, becoming the highest protocol in AptosTVL. The circulating market value of APT increased by 127% quarter-on-quarter, reaching $6.6 billion. Its growth rate exceeded that of companies with similar market values, and its market value ranking rose from 33 to 22 on a quarterly basis. With an increase in supply this quarter, APT's price increase was lower than its market value but still up 76% from last quarter. Aptos revenue (i.e., all fees collected by the protocol) grew by 37%, reaching $475,000; however it decreased by10% when priced in APT.
However due to inscription craze last year’s Q4 figures saw a surge around end of December. Excluding this point, APT’s total income for first Quarter has seen an increment. APT inflation rate started at annualized rate of7%, then dropped each year by 1.5% until it reached3.5%. This annual change occurred mid-October last year when inflation fell slightly below6.9%(this ratio is based on initial total supplyof1billionAPTs). Genesis supply includes initially allocated one billion APTs but does not include staking rewards.By end ofQ1,nearly31 %of genesis supply had been distributed, up 32%quarterly.Another4.7% of APTgenesis supply will be unlocked in Q2 2024.
Aptos released its Q1 2024 report, with Aptos's DeFi TVL increasing by 376% quarter-on-quarter to $573 million. Driven by the incentive program, the lending protocol Aries Markets' TVL increased by 714% quarter-on-quarter to $249 million, becoming the highest protocol in AptosTVL. The circulating market value of APT increased by 127% quarter-on-quarter, reaching $6.6 billion. Its growth rate exceeded that of companies with similar market values, and its market value ranking rose from 33 to 22 on a quarterly basis. With an increase in supply this quarter, APT's price increase was lower than its market value but still up 76% from last quarter. Aptos revenue (i.e., all fees collected by the protocol) grew by 37%, reaching $475,000; however it decreased by10% when priced in APT.
However due to inscription craze last year’s Q4 figures saw a surge around end of December. Excluding this point, APT’s total income for first Quarter has seen an increment. APT inflation rate started at annualized rate of7%, then dropped each year by 1.5% until it reached3.5%. This annual change occurred mid-October last year when inflation fell slightly below6.9%(this ratio is based on initial total supplyof1billionAPTs). Genesis supply includes initially allocated one billion APTs but does not include staking rewards.By end ofQ1,nearly31 %of genesis supply had been distributed, up 32%quarterly.Another4.7% of APTgenesis supply will be unlocked in Q2 2024.
