Four crucial BTC price levels amid $11.94 billion spot ETF inflows
April 30, 2024
Hot projects + Market overview
I. Mainstream exchange news
HashKey says non-Hong Kong residents can subscribe to or purchase Bosera HashKey BTC and ETH spot ETF products if they comply with local regulations.
Coinbase adds QCAD to its listing roadmap.
Coinbase to launch Neon EVM (NEON).
Binance schedules ADA/JPY, SHIB/JPY, SOL/JPY, and XRP/JPY trading at 16:00 (UTC+8) on April 30th.
II. Mainstream projects and trending events
Bosera HashKey, China Asset Management, and Harvest list 6 virtual asset spot ETFs on the Hong Kong Stock Exchange and open for trading.
EigenLayer is to launch its native token in May, and stakers are to receive a 15% airdrop.
MicroStrategy adds 25,250 Bitcoins in the first quarter of this year, bringing its total holdings to 214,400 Bitcoins.
Kamino, a DeFi protocol in the Solana ecosystem, plans to introduce KMNO token staking.
Payments giant Stripe integrates with Avalanche to expand into crypto.
BlackRock restructures its board of directors for its spot Bitcoin ETF.
South Korean public chain Klaytn integrates LayerZero.
III. Funding news
LazyBear, a crypto trading ecosystem, raises 4 million USDT in strategic financing.
Tether invests $200 million in biotechnology company Blackrock Neurotech.
Web3 game startup GFAL completes a $3.2 million seed round of funding.
Web3 content distribution platform Metale Protocol completes a $2 million seed round of funding.
IV. Regulatory news
US senators question the Biden administration on countries like Russia using Tether to evade sanctions.
At least 10 EU countries plan to incorporate digital asset market laws into national law.
Canadian Prime Minister proposes a 50% to 67% capital gains tax on stocks and crypto assets.
Thai regulators crack down on fraudulent cryptocurrency advertising.
From September 1st, Russia will strictly restrict the circulation of crypto assets, but miners and central bank projects will be exempt.
South Korea plans to upgrade the temporary cryptocurrency crime investigation unit to a formal department.
V. Popular projects
Market Overview
On April 29th, BTC fell to a low of $61,756, entering a resistance area that sparked a bull counter-attack which drove the price up to a high of $64,734. The market is currently characterized by four key levels. If BTC falls below $61,100, it's likely to test the $56,000-$58,000 range. Remaining within the $61,100-$66,000 range signifies a usual consolidation period. Surpassing $66,000 is an indication of a strong bullish movement while holding above $68,000 suggests potential to challenge previous highs. Broadly, it is expected that BTC will continue to fluctuate within the $60,000-$68,000 range. This adjustment period has been ongoing for 6 weeks, and the market is watching for the ensuing main upward trend post-fluctuations.
BTC Spot ETF
Data as of April 29th shows that the net inflow of BTC spot ETFs totaled $11.94 billion, with a single-day net outflow of $52.4 million and a single-day turnover of $1.41 billion. The net asset ETFs accounted for 4.22% of the BTC market value. Among them, the main observations are:
GBTC: The single-day net outflow was $24.66 million, a cumulative net outflow of $17.21 billion, The single-day turnover was $257 million, and the current net asset value is $18.68 billion;
IBIT: The single-day turnover was $758 million, with a 0 net inflow, and a cumulative net inflow of $15.48 billion;
FBTC: The single-day turnover was $224 million, with a single-day net outflow of $6.85 million, and the current net asset value is $9.62 billion;
ARKB: The single-day net outflow was $31.34 million, with a single-day volume of $80.47 million, and the current net asset value is $2.71 billion.
EigenLayer to launch native tokens in May
Liquidity re-collateralized protocol EigenLayer will launch its native token in May, along with a token airdrop plan. The total supply of EigenLayer tokens is 1.67 billion, of which 45% will be allocated to its community, including staking airdrops (15%), community plans (15%), and ecosystem development (15%). Additionally, 29.5% of the tokens will be allocated to investors, with early contributors receiving 25.5% of the tokens.
For the first quarter airdrop, the foundation will distribute 5% of the token supply to users based on a snapshot of staking activity as of March 15, 2024. Within this first quarter airdrop, 90% of the tokens will be claimed by eligible restaking users on May 10th, with a claim period of 120 days. The remaining 10% will be claimed in the second phase of the first quarter a month later.
CAW rose 5.8-fold from its bottom
Similar to Doge with Hat (WIF), Crow with Knife also wants to express this type of narrative. The token was released in the Cronos network and currently has 8,847 holders. Chain liquidity has reached $6.48 million. The token recently rose 5.8-fold from its bottom, with market attention continuing to increase.
ALEPH bounced over 100% from its bottom
Aleph.im is an open-source off-chain P2P network. It provides decentralized volumes for storing and sharing data in IPFS, blockchain indexing, function execution and virtual machine configurations, and a DID (Decentralized Identity) framework. ALEPH currently boasts a market cap of $63.44 million. The token price recently bounced over 100% from its bottom, showing a counter-trend.
On-chain Daily
- THREE: THREE belongs to the AI and Zero-Knowledge Proof (ZKP) Privacy track. It’s a triple signature DAO that doesn't require KYC, simultaneously protecting user privacy and ensuring anonymity in transactions.
Current price: 0.161 USDT
Historical high: 0.19 USDT
6-hour increase: 41.5% (Token launch time: April 29th, 20:15 UTC)
Current market cap: $16M
- SWIPES: Bndr.ai is a platform utilizing AI technology to help users unearth new projects and investment opportunities with ease.
Current price: 0.0264 USDT
Historical high: 0.03 USDT
6-hour increase: 9645% (Token launch time: April 29th, 20:05 UTC)
Current market cap: $26.4M
- RETARDIO: RETARDIO is a memecoin on Solana that also includes NFTs. RETARDIO’s IP is closely related to and resembling Milady. The project exudes a cult-like atmosphere. It has been frequently mentioned by the well-known binary betting project Polymarket and the reputed DeFi protocol Timeswap.
Current price: 0.029 USDT
Historical high: 0.032 USDT
24-hour increase: 7.39%
Current market cap: $29.7M
- GUMMY: GUMMY is a memecoin on Solana, symbolized by a cannabis gummy bear. The team doesn't own any tokens.
Current price: 0.129 USDT
Historical high: 0.239 USDT
24-hour decline: 9.31%
Current market cap: $129M
- CHOMP: CHOMP is a memecoin on Base, characterized by an orange fierce guinea pig.
Current price: 0.094 USDT
Historical high: 0.157 USDT
24-hour increase: 11.3%
Current market cap: $8.9M
- SIAM: SIAM is the oldest cat-themed memecoin on Base. The developer did not provide liquidity; instead, the community added liquidity and took over the project on April 24th – a change after which the coin price increased by up to 961%.
Current price: 0.0(8)76 USDT
Historical high: 0.0(7)12 USDT
24-hour increase: 474%
Current market cap: $723M
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