BlockBeats will sort out the key industry news contents of the week (3.25-3.31) in this article, and recommend in-depth articles to help readers better understand the market and learn about industry trends.
Important news this week
Ethena airdropped 750 million ENA on April 2, and Binance launched new currency mining Ethena (ENA)
On March 29, according to an official announcement, Binance’s new currency mining has now launched the 50th phase of project Ethena (ENA), a synthetic dollar protocol. Users can invest BNB and FDUSD into the ENA mining pool to obtain ENA rewards after 08:00 on March 30, 2024 (East Eight District time). ENA can be mined for a total of 3 days. Binance will list Ethena (ENA) at 16:00 on April 2, 2024 (Eastern Eighth District time), and open the ENA/BTC, ENA/USDT, ENA/BNB, ENA/FDUSD and ENA/TRY trading markets. Seeds are applicable Label trading rules.
Ethena will launch the ENA airdrop on April 2nd. The total amount of this airdrop is 750 million (accounting for 5% of the total), which can be claimed within 30 days at most. After that, any unclaimed ENA will be redistributed to users of the second season event. In addition, 3% of the total amount of tokens in this airdrop (0.15% of the total supply) will be distributed to SchizoPosters and Redacted Remilio Babies series NFT holders. The total number of Ethena (ENA) tokens is 15 billion, and the initial circulation is 1.425 billion. The allocation quota for core contributors and investors is 30% (1-year lock-up), and the ecological economic development allocation quota is 25%. Ethena The foundation's distribution quota is 15%. ENA will be used to vote on governance proposals on matters related to the Ethena protocol.
The founder of mfers nft issued the meme token MFER, and early entrants achieved nearly 1,000 times the profit
In the early morning of March 30, the founder of mfers nft announced the launch of the meme currency MFER and airdropped it to mfer holders. Later that day, the price of MFER surged to more than $0.03. A certain address spent 0.4 ETH (approximately $1,400) to buy 16.07 million MFER and sold 14.5 million MFER for 286 ETH (approximately $1 million). There are currently 1.58 million MFER left. The address made $1.4 million in just 10 hours, a 995x gain.
The RWA track continues to be hot, with related tokens rising to a new high
On March 26, the RWA concept generally rose. ONDO, the native token of Ondo Finance, the leader of the track, rose by more than 110% in a week, leading the rise of the entire RWA track agreement, and the tokens of multiple projects continued to hit record highs. POLYX (Polymesh) rose 45.7% in 24 hours; TOKEN (TokenFi) rose 31.6% in 24 hours; GFI (Goldfinch) rose 25.3% in 24 hours; RIO (Realio) rose 141.7% in the past week. Related reading: "The RWA track continues to be hot, what agreements are worth paying attention to?" 》
Base network TVL and transaction volume are growing rapidly, and ecological leader Degen launches low-cost Layer 3 blockchain Degen Chain
The price of memecoin Longyi DEGEN on Base has increased nearly 10 times in the past two weeks. The community has strong cohesion and is extremely popular. This week, DAO infrastructure service provider Syndicate launched an ultra-low-cost L3 chain Degen Chain for the Degen community, but this chain was not launched by the Degen community itself. The Gas token of Degen Chain is also DEGEN, but Degen Chain is built based on Arbitrum Orbit. The Base network only serves as the settlement layer, and the DA layer uses AnyTrust. In fact, since Base has no expectation of issuing coins, DEGEN is regarded as the entrance to participate in its ecology.
Ecological projects continue to gain popularity, and this week the founder of mfer NFT launched the MFER token on Base. The transaction volume of Base network DEX reached US$657 million yesterday (March 29), setting a record high. Related reading: " A quick look at the L3 chain Degen Chain launched by Syndicate "
KuCoin and its two founders were indicted on charges including violating U.S. anti-money laundering laws
On March 26, the U.S. Attorney’s Office for the Southern District of New York stated that the cryptocurrency trading platform KuCoin and its two founders were charged with bank secrecy laws and unauthorized fund transmissions, and charged them with conspiring to operate without authorization. licensed money transmission business and conspired to violate the Bank Secrecy Act, knowingly failed to maintain an adequate anti-money laundering (AML) program designed to prevent KuCoin from being used for money laundering and terrorist financing, failed to maintain reasonable customer identity verification procedures, and Submit any suspicious activity reports. KuCoin was also accused of operating an unlicensed money transmission business and material violations of the Bank Secrecy Act. Affected by the relevant news, multiple whale addresses are transferring assets from KuCoin to other trading platforms. Data on the Nansen chain shows that Kucoin has had a net outflow of $649 million in tokens in the past seven days, and a net outflow of $641 million in tokens in the past 24 hours.
On March 27, KuCoin stated that everything on the platform is operating normally and users’ assets are absolutely safe, and it is seeking details through lawyers. KuCoin CEO Johnny Lyu said that some users experienced longer than expected waiting times for withdrawal requests between March 26 and 27. KuCoin is deeply responsible for the inconvenience caused and sincerely apologizes. We will launch a special airdrop event of KCS and BTC totaling US$10 million to express our gratitude to loyal users for their support.
Huang Licheng launched the Meme project Bobaoppa on Solana, and then transferred the raised funds to pledge
On March 28, Machi Big Brother Huang Licheng announced the launch of the Meme project Bobaoppa on Solana and started fundraising. The minimum fundraising amount is 1 SOL. In the end, the address has now raised more than 18 SOL. Then on March 30, Huang Licheng pledged part of the SOL he raised (156,300) into the Solana ecological pledge agreement BlazeStake, and exchanged it for 139,556.77 bSOL, worth approximately US$31.13 million. Bobaoppa opened at $0.0014 and then quickly fell by more than 50%, and is now quoted at $0.00063. It is reported that the Bobaoppa/SOL and bSOL pools established by Huang Licheng charge dynamic transaction fees, with a maximum of 10% and a minimum of 2%. A series of operations triggered condemnation from the encryption community, and an article revealing his suspected involvement in multiple encryption scams in 2022 was widely circulated again. Related reading: " Review of the original text of "ZachXBT's "Ma Ji Da Cut Huang Licheng's Crypto Past" "
SBF was sentenced to 25 years in prison in New York for multi-billion dollar fraud and had over $11 billion in assets confiscated
On March 28, the SBF sentencing hearing was held. According to Reuters, SBF was sentenced to 25 years in prison in New York for a multi-billion dollar fraud. Judge Kaplan in the SBF case said during the final trial: "I know that the government (prosecutor) recommended a sentence of 40 to 50 years, which was unnecessary. But SBF clearly showed no remorse. The court sentenced SBF to a total of 300 months Prison sentence (25 years)." Also: SBF ordered to forfeit more than $11 billion in assets. Related reading: "Experiencing the SBF trial: Reflecting on the future of the encryption industry from his end"
The founder of Ordinals released an introduction to Runes, and Runestones are hot again
On March 28, Casey Rodarmor, founder of the Bitcoin NFT protocol Ordinals, released an introduction to Runes. Rune protocol messages are called Runestones and are stored in the Bitcoin transaction output. Runes are created by etching. Etching creates a rune and sets its properties. Once set, these properties are immutable, which makes Runestones hot again. Related reading: "Interpretation of the recent popularity of Runestone, what does it have to do with the Runes Agreement?" 》
Bloomberg ETF analyst Rebecca Sin: Hong Kong may adopt the opposite approach to the United States to create a spot Bitcoin ETF
On March 26, Bloomberg ETF analyst Rebecca Sin said that Hong Kong is expected to realize the creation and redemption of spot Bitcoin ETFs in the second quarter of this year. This may be a major market opportunity that can significantly increase the issuance of Bitcoin ETFs in the region. People's assets under management (AUM) and trading volume. The report stated that Hong Kong's goal may be to use physical Bitcoin to create ETFs, which is completely different from the United States. The United States only allows the use of cash, that is, "cash in, Bitcoin ETF out", while Hong Kong is "Bitcoin in, ETF out."
Among them, HashKey is working closely with more than 10 Hong Kong securities firms as a licensed custodian to participate in the preparation of spot ETFs. HashKey expects that the Hong Kong Bitcoin Spot ETF will have clear news in the first half of the year. HashKey provides underlying infrastructure support for funds applying for ETFs in Hong Kong, covering aspects such as trading and custody.
Fetch.ai, SingularityNET and Ocean Protocol establish decentralized AI alliance and merge tokens into ASI
On March 27, three companies, Fetch.ai, SingularityNET and Ocean Protocol, announced the merger of their tokens and the creation of a decentralized artificial intelligence (AI) alliance. The alliance aims to provide a decentralized alternative to projects currently controlled by large tech companies. Fetch.ai's native token FET will be transformed into ASI (which stands for "Artificial Super Intelligence"), with a total supply of approximately 2.63 billion tokens and a starting price of $2.82. SingularityNET's AGIX and Ocean Protocol's OCEAN tokens will be merged into ASI at a ratio of approximately 0.433 to 1, giving ASI a fully diluted market capitalization of approximately $7.5 billion. Affected by news of potential mergers, related tokens such as AGIX rose in the short term. Related reading: "What are the potential profit opportunities from the merger of three major AI projects?" 》
U.S. judge allows SEC to move forward with charges that Coinbase failed to register as a securities business
On March 27, a U.S. judge allowed the SEC to continue charging Coinbase with failing to register as a securities business. Additionally, the judge dismissed the SEC’s accusation that Coinbase was acting as an unregistered broker through its wallet application.
Wormhole airdrop will be available for redemption on April 3
On March 29, according to official news, the Wormhole airdrop will be available for redemption at 19:30 on April 3.
After StakeStone received investment from Binance and OKX, Manta Renew Paradigm TVL surged 30%
This week OKX Ventures and Binance Labs announced their investment in the full-chain liquidity distribution network StakeStone. Affected by this, the TVL of Manta Renew Paradigm products surged 30% to US$130 million. Previously, Manta launched the Renew Paradigm product. 11 ecological projects provided at least 3% of the total tokens and airdropped them to participating users. Using STONE to participate in the Manta Renew Paradigm can earn M-STONE points and distribute ecological rewards of 1% of the total supply of StakeStone. In addition, you can also receive additional EigenLayer airdrop points and 3 million MANTA rewards. StakeStone aims to connect full-chain liquidity and provide staking, future re-staking yields and liquidity for emerging chains and ecosystems.
Popular articles this week
"The RWA circuit continues to be hot. Are there any agreements worth paying attention to?" 》
On March 26, the RWA concept token rose across the board. Ondo Finance's native token ONDO led the gains, rising more than 110% in a week, setting a new record high, driving the entire RWA track protocol. Other project tokens also hit all-time highs, such as POLYX, TOKEN, NXRA, GFI, and RIO. This craze may be related to the tokenized fund BUIDL launched by BlackRock. Institutions are beginning to bring real-world returns into DeFi, believing that DeFi returns are too low. The RWA craze even gave birth to meme coins such as ElonRWA. In this context, RWA protocols such as Realio Network, Propchain, AllianceBlock Nexera, Plume Network, Polymesh, Mineral, Galileo Protocol and MANTRA have attracted much attention and have achieved significant results in areas such as real estate token investment, blockchain infrastructure and luxury goods certification. increase.
"What are the potential profit opportunities from the merger of the three major AI projects?" 》
Yesterday, three major projects in the AI field, Fetch.ai, SingularityNET and Ocean Protocol, announced that they would jointly create a decentralized artificial intelligence alliance and merge their tokens $FET, $AGIX and $OCEAN into $ASI. The news triggered a rise in the prices of related tokens, with Ocean Protocol (OCEAN) rising by as much as 35%. Details about token conversion and possible arbitrage space are also of great concern to the community. The three projects will establish a team called Superintelligence Collective, with SingularityNET founder Ben Goertzel as CEO, but the new business after the merger has not yet been disclosed in detail. If the merger is successful, ASI's market value will exceed US$7 billion in the future, making it one of the top 25 projects in the encryption field by market value. This merger symbolizes an important change in the field of AI, and the recent emergence of many new projects on the AI track also makes people look forward to future development.
On March 28, "Machi Big Brother" Huang Licheng announced the launch of the Meme project Bobaoppa on Solana and started fundraising. The minimum fundraising amount is 1 SOL. The amount of funds raised on that day exceeded 188,000 SOL, worth over 35 million US dollars. This article was first published on June 17, 2022. A long article analysis from the well-known KOL ZachXBT broke the news. He suspected that Machi Big Brother was related to more than 10 leek cutting projects and presented the evidence he collected. The KOL pointed out that Machi Big Brother misappropriated 22,000 ETH from Formosa Financial in 2018 and launched more than ten pump and dump Tokens and NFTs in the four years after the collapse of Formosa Financial. project.
"DEGEN and AERO hit record highs one after another. Is the Base season really coming this time?" 》
In the recent Ethereum ecosystem, the Base chain has performed outstandingly, with its TVL exceeding US$2.5 billion, setting a record high. The social culture within the ecosystem and the leading projects in the DeFi sector have attracted much attention. Among them, the price of the meme currency DEGEN on the Farcaster protocol soared to US$0.018, an increase of 376% in 7 days. DEGEN has grown from a community meme coin to a high-profile project, thanks to its active presence in Farcaster and the entire Base ecosystem. In addition, another important DeFi project token, AERO, has emerged in the Base ecosystem, with its price reaching $1.4, a 93% increase in 7 days. AERO is a liquidity protocol forked from the OP ecosystem's DEX Velodrome, and has received investment from the Base Ecosystem Fund led by Coinbase Ventures. The market expects Base to spark a craze like Solana, and the activity of the Base ecosystem has also successfully driven market sentiment for other projects.
On March 27, the staking game project Munchables announced that it had been attacked. Paidun monitoring showed that the attacker had stolen 17,400 ETH (approximately $62.3 million) in its locked contract. After investigation, it was discovered that the attack originated from the developer of the Munchables protocol, allegedly a North Korean hacker. The founder of SlowMist said that this is at least the second time that a DeFi project has encountered a similar situation, exposing the usual methods of hackers taking advantage of the trust of the development team to carry out attacks. However, the hackers have since returned the stolen funds after being traced. North Korean hackers often use disguised identities and abuse trust to attack development teams. This strategy has been confirmed in multiple encryption projects. In this dark forest, the dangers of the encrypted world are everywhere, and it is crucial to increase vigilance and safety precautions.
"Blast activates gold points, GOLD price analysis and acquisition tutorial overview"
Blast is currently the most popular unreleased coin L2, and its Big Bang event has attracted more than 3,000 project registrations, making it unprecedentedly popular. On March 22, Blast distributed Blast Gold to mainnet dApps for the first time, with a total amount of 10 million. Among them, Bigbang award-winning projects received an additional 4 million, and mainnet dApps received a total of 6 million. According to estimates, there will be 5 allocations, with a total amount of approximately 40 million. The current value of Blast Gold is approximately 12U. In order to obtain gold points, it is crucial to participate in dApps, and for project parties, it is most ideal to choose to participate in projects with a large number of gold allocations and which have not yet seen a large influx of TVL. In addition to derivatives trading platforms, CDP protocols such as Wand Protocol are also one of the projects worthy of attention.
As an important complement to AI, Crypto has very extensive integration and huge development potential, and is currently in its early stages. Although the market does not fully agree on AI + Crypto, its track distribution is already clear. This article horizontally expands from seven modules, including computing power cloud, computing power market, model assetization and training, AI Agent, data assetization, ZKML, and AI applications, to explore the future development of AI and cryptocurrency fields and explore investment opportunities for readers. As more innovative projects emerge in the future, we have reason to believe that the field of AI encryption will become more diverse, intelligent and secure. In the future, we look forward to witnessing the birth of more cross-border cooperation and innovative technologies, and jointly promoting artificial intelligence and blockchain technology towards broader application prospects.
"Nansen releases zkSync user portraits, does it hide airdrop screening criteria?" 》
zkSync Era is one of the current top Rollups. Since its launch in March 2023, its user metrics, DApps and integrations have grown exponentially. zkSync currently has more than $456 million in net traffic and more than 2.26 million unique users, who access zkSync through the Ethereum main bridge. Wallet age data shows that over 71% of addresses were created in the last year, indicating that there are many new wallets interacting with zkSync. The main amount of most mainnet funds entering zkSync's wallet is less than $1,000. As of March 2024, more than 8,280 people were still making daily independent deposits. The activity on zkSync is mainly dominated by existing EOA addresses, and the assets of most addresses tend to be mainstream coins and stable coins. Although the airdrop and snapshot time of zkSync are currently inconclusive, some evaluation criteria can be gleaned from the report, including cross-chain amount, single-day excessive activity, address creation time, etc.
"Experiencing the SBF trial: Reflecting on the future of the encryption industry from his end"
On March 28, FTX founder SBF was sentenced to 25 years in prison and a fine of $11 billion by a Manhattan court. Former immutable founder John Wang, who was present, shared his experience in court. He reflects on his association with SBF, describing an admiration for his past and the shock of reality. In court, he witnessed the testimony of key witnesses who exposed the fraud involved in SBF and its consequences. This experience made him deeply reflect on the perception, user experience and supervision of the cryptocurrency industry, emphasizing the importance of establishing a transparent and trustworthy financial system.
"Vitalik's latest long article: Sequel to Ethereum Evolution, four key improvements in L2"
Vitalik Buterin, the founder of Ethereum, pointed out in the latest article: The Dencun upgrade on March 13 enabled Ethereum to implement proto-danksharding (EIP-4844), which is the expectation of the blobs feature. This change significantly reduces transaction fees for rollups while activating the fee market. Although blobs are no longer free, they cost far less than calldata, marking a key shift in Ethereum's scaling roadmap. Now, the expansion of Ethereum is no longer a problem from zero to one, but from one to many. In the future, the focus will be on gradually increasing blob capacity and improving L2 to better utilize the data space. This shift will lead to broader application development and user experience improvements, marking Ethereum's emergence as a more complete independent decentralized technology stack.
The AI x DePin project has been booming recently, using the token incentive mechanism to establish a distributed server market as its selling point. However, Fluence DAO solved the problem of how to evaluate the quality of computing resources and equipment through the decentralized serverless computing market, and emerged in the DePin craze. Fluence is a global, permissionless computing platform that uses the Aqua protocol and Marine tools to provide developers with specific solutions and build an operational computing power market. Its innovative thinking and deep cultivation will bring broader space for its future development.
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