Orderly Network prepares for token airdrops

March 27, 2024

I. Mainstream exchange news

• Coinbase Cloud says 50% of its validators are running on Nethermind.
• Coinbase Global Exchange sets a new historical high for daily trading volume.
• Bakkt reports a total revenue of $780.1 million in 2023 and expects to launch institutional trading services in Q3 this year.
• Binance adds a large number of "Smart Recovery" currencies, only charging 5 USDT for incorrect recoveries.
• Binance winds down support for USDC token deposit and withdrawal services on the Tron Network (TRC20).

II. Mainstream projects and trending events

• Orderly Network to launch its reward program next week and prepare for an airdrop of tokens.
• Bazingahappy.sol wins the inscription 149970 auction with nearly 18.89 million BOME.
• The US SEC requests a judge to order Ripple Labs to pay a fine of $2 billion.
• The London Stock Exchange announces that it will accept Bitcoin and Ethereum ETN listing applications starting April 8th.
• CyberConnect launches a $2 million ecosystem funding program, with the first round of applications opening on April 1st.
• The Worldcoin Foundation has open-sourced the core components of its Orb software.

III. Funding news

• BlockGames, a decentralized gaming data ownership protocol, has raised $6 million in funding.
• Nubit, a Bitcoin-native DA layer project, completed a $3 million pre-seed financing round with participation from OKX Ventures.
• Latin American gold miner Nilam Resources signed a letter of intent to purchase 24,800 Bitcoins, valued at more than $1.7 billion.
• The Manta ecosystem project, StakeStone, received investment from Binance Labs.
• Bitcoin L2 project, BEVM, completed a seed round as well as a part of A round funding worth tens of millions of dollars, espousing a post-investment valuation of $200 million.

IV. Regulatory news

• Philippine regulators continue efforts to block public access to Binance.
• Nigerian security forces will cooperate with Interpol to issue an international arrest warrant for a fugitive Binance executive.
• Thailand will finalize the details of its digital wallet plan by April 10th.

IV. Popular projects 

DOGE's recent performance is strong

On March 25th, Elon Musk tweeted a hint that X was about to launch something, which included a Doge icon redirecting users to the Doge Wallet Twitter interface. The community expects that Musk will soon support DOGE payment features. Additionally, the Doge founder has on multiple occasions championed the 'Doge to 1' slogan, causing a surge in recent attention towards DOGE.

LMEOW is up 120% in the last 24 hours

The IP origin of LMEOW is closely related to the legendary trader GCR. Originally, GCR was his acronym at FTX exchange, standing for 'Gigantic-Cassocked-Rebirth'. Due to his stellar performance and keen insight, he rapidly gained fame in the Crypto Twitter community. GCR predicted the rise of memecoins like Shiba Inu, the collapse of LUNA, the high-level shorting of Doge, and the 2022 bear market, among other things.

On February 8th, 2023, he predicted that a cat-themed meme coin named 'LMEOW' would lead investors from Doge to Cat, hence the birth of LMEOW. Recently, smart money on-chain has been continuously purchasing it. The token's market cap is $36.24 million, with on-chain liquidity of $1.58 million.

VELO soars over 50% in one day

Velodrome (VELO) is a top decentralized exchange (DEX) on the Optimism network, with a current total value locked (TVL) of $141 million, ranking third in the Op ecosystem. Velodrome's fork project, Aerodrome, is a leading DEX in the Base ecosystem. Due to the recent meme boom in the Base ecosystem, the valuation has risen 16-fold, resulting in a market value of $510 million. As a top DEX in the Op ecosystem, VELO's market value is only $100 million, leaving ample room for price catch-up.

YGG is up 27% in the last 24 hours

Decrypt reports that the blockchain gaming guild, Yield Guild Games (YGG), has begun exploring its next major evolution: transitioning from a blockchain gaming guild into a blockchain gaming guild protocol. YGG aims to become an infrastructure layer, enabling all guilds to develop synchronously both on-chain and within games. YGG is also considering the use of tokenized credentials and tools to manage assets and characters, while deeply integrating with blockchain games. The current mainstream direction for guild-like protocols is to create their own separate blockchain, continuously absorbing and incubating off-chain games to create their closed-loop ecosystem. With recent surges in GameFi ecosystem activity levels, it might be worth keeping an eye on BEAM, GF, ACE, PRIME, XAI, and so on.

GFI is up 40% in the last 24 hours

Goldfinch is a decentralized protocol that links real-world lending needs, primarily offering USDC lending services for debt funds, fintech companies, and other lending enterprises. Presently, it has loaned out nearly $100 million, with the APY for USDC reaching 7.6%. It stands as one of the leading projects within the RWA (Real World Assets) track. Goldfinch has previously secured funding of $25 million led by a16z. GFI’s market cap is currently at $230 million.

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