Author: TechFlow
Yesterday's market dynamics
BONK ETP is now open to qualified investors with a minimum investment of $10,000
According to official news, Osprey BONK Trust, the exchange-traded product (ETP) of Solana's Meme token BONK, has begun accepting investments from the first batch of qualified investors. To qualify for certification, an individual's annual income must exceed US$200,000 (or US$300,000 with a spouse's annual income), a net worth of more than US$1 million, or be an investment professional (for example, a licensed associate of a broker-dealer or investment advisor).
After completing the fundraising from initial investors, we will proceed to apply for listing on the secondary market (exchange).
Tesla transferred about 11,500 Bitcoins to an unknown wallet, with a total value of more than $765 million
Electric car maker Tesla transferred all of its Bitcoin holdings to multiple unknown wallets on October 15, with a total value of more than $765 million. According to Arkham Intelligence, Tesla transferred approximately 11,500 Bitcoins through 26 transactions (including test transfers). Prior to this large-scale transfer, Tesla's Bitcoin wallet had been dormant since June 17, 2022.
Bitcoin infrastructure development company Blockstream completes $210 million convertible note financing, led by Fulgur Ventures
According to The Block, Bitcoin infrastructure development company Blockstream announced the completion of $210 million in convertible note financing, led by Fulgur Ventures. Blockstream co-founder and CEO Adam Back said that this round of financing will be used to accelerate the market adoption of its Bitcoin Layer 2 technology, expand mining operations, and increase Bitcoin reserves.
Blockstream's Layer 2 solutions include Liquid Network and Core Lightning. It is reported that more than $1.8 billion in assets have been issued on the Liquid Network, including stablecoins, tokenized bonds and securities, and about 3,844 bitcoins are locked on the chain (worth about $250 million). The company plans to position Liquid as the "de facto infrastructure" for the tokenization of physical assets within the Bitcoin ecosystem.
Pell Network, a Bitcoin ecosystem AVS platform, announced the completion of a $3 million Pre-Seed round of financing, led by Halo Capital and others
According to official news, Bitcoin ecosystem AVS platform Pell Network announced the completion of a $3 million Pre-Seed round of financing. This round of financing was jointly led by Halo Capital, Mirana Ventures and Paper Ventures, and participated by ArkStream Capital, Caliber Venture Builder, Cogitent Ventures and Contribution Capital.
It is reported that Pell Network aims to create a decentralized token economy security leasing platform for the Bitcoin ecosystem. By building a network that aggregates native BTC Stake and LSD re-staking services, stakeholders are allowed to choose to verify new software modules built on the Pell Network ecosystem. With the completion of financing, the Pell Network testnet has officially launched.
SingularityDAO plans to merge with Cogito Finance and SelfKey to create an AI -focused second-layer network
According to CoinDesk, SingularityDAO, Cogito Finance and SelfKey are planning to merge to form a new entity called Singularity Finance. The project will focus on tokenization of the artificial intelligence (AI) economy and provide AI-driven financial tools.
It is reported that the new entity Singularity Finance will provide a second-layer network for the tokenization of assets such as GPU. After the merger, SelfKey's existing token KEY will become Singularity Finance's new token SFI. SingularityDAO's SDAO and Cogito's CGV will be merged into SFI at a ratio of 1:80.353 and 1:10.89. This process may be adjusted based on discussions among stakeholders.
Polkadot’s third quarter financial report: treasury balance of US$153 million, marketing expenses dropped significantly
Polkadot community members Alice and Bob released the treasury operation report for the third quarter of 2024 on the official governance forum. The report shows that the balance of the Polkadot treasury is 33.3 million DOT (about 153 million US dollars), and the surplus after considering liabilities is 32.4 million DOT (about 149 million US dollars).
In the third quarter, Polkadot’s total treasury expenditure was US$27 million (5.2 million DOTs), a significant drop from US$58 million (8 million DOTs) in the second quarter.
Market News: Suilend tokens may be released within 60 days
According to Sui network ambassador Matteo, the token of the decentralized lending platform Suilend may be launched within the next 60 days. It is reported that Suilend is a lending platform built on the Sui blockchain, which has previously launched the Suilend Points system to provide users with early participation incentives.
The Trump family's crypto project WLFI had a sales volume of only $9.15 million on the first day, with about 610 million coins sold, and 19.4 billion coins remaining for sale.
The Trump family crypto project World Liberty Financial launched a public token sale on October 15. As of 7:25 a.m. Beijing time on October 16, the project has sold about 610 million WLFI tokens, with 19.4 billion remaining for sale. At a price of $0.015 per token, the first day's sales were approximately $9.15 million.
Wintermute: Solana’s on-chain transaction volume surpasses Ethereum, and 40% of the transaction volume comes from memecoins
According to the Wintermute market report, Solana’s on-chain transaction volume increased by 50% to $39 billion, exceeding Ethereum’s transaction volume. The specific data is as follows:
Solana: $51 billion
Ethereum: $46 billion
At the same time, memecoin’s influence on Solana is also growing. 40% of Solana’s trading volume comes from memecoins, of which pumpdotfun accounts for 35% of Solana DEX’s total trading volume.
Furthermore, Solana now dominates token generation: market share has risen to 86% from 60% in early September, with weekly token generation surging from 45,000 to 110,000.
Mint Blockchain receives 750,000 tokens from Optimism Foundation $OP Strategic investment
According to official news, Mint Blockchain has made another important breakthrough! In the latest Cycle 28 of Optimism Grant, Mint Blockchain became the only Superchain approved by the OP Grant Committee and successfully obtained 750,000 OP funding support (worth $1.35 million). Not long ago, Mint passed the Optimism Superchain governance plan and became the first superchain network to participate in OP ecological governance through the Chain Delegation Program.
Praxis, a "cyber nation" project, raises $525 million to build crypto-friendly cities
According to The Block, Praxis, a project that calls itself the world's first "cyber nation," announced that it has received $525 million in financing to build a high-tech city that supports the development of cryptocurrency, artificial intelligence, energy, and biotechnology. Investors in this round of financing include institutions such as Arch Lending, GEM Digital, Manifold Trading, and angel investors such as Farcaster CEO Dan Romero and Worldcoin co-founder Max Novendstern. Praxis has previously received investments from Paradigm, Alameda Research, and Three Arrows Capital.
Market dynamics
Recommended Reading
With smooth listing and abundant incentives, how does Turbos take over the rising tide of Sui Meme?
Popularized by GOAT, will AI autonomous conversation and issuing Meme coins become a new trend?
DeFinance founder: It’s time to make DeFi great again
