OKX experiences a glitch in its API involving thousands of users

March 28, 2024

I. Mainstream exchange news

• KuCoin initiates a $10 million airdrop campaign in response to recent withdrawal delays, offering users KCS and BTC.
• OKX experiences a glitch in its API on March 27th, involving thousands of users.
• Coinbase introduces its cross-collateral feature.
• Upbit lists MNT and POKT.

II. Mainstream projects and trending events

• Blockchain game Illuvium reveals the details of Beta 4 and airdrop in its roadmap.
• BlackRock CEO was surprised by the Bitcoin ETF's performance but remains confident in Bitcoin's long-term viability.
• BlackRock's tokenized investment fund, BUIDL, saw its fund inflow increase to $245 million.
• BlackRock CEO says that an Ethereum ETF is still possible even if Ethereum is deemed a security.
• Fetch.ai reports ASI token total supply at 2.63 billion, with merger proposal voting set for April 2nd.
• Jupiter injects $10 million worth of USDC and 100 million JUP into DAOwallet.
• Fidelity files an S-1 form to the US SEC for a spot Ethereum ETF with a staking feature.
• Memecoin project LADYS announces the launch of a DePIN project named "Meme Phone", with only 100 phones available in the first batch.
• VeChain launches a non-code digital asset tokenization platform MaaS.
• Flare's latest paper introduces a blockchain-based AI solution "Consensus Learning".

III. Funding news

• Web3 game studio 7 Digital Labs completes a $4 million seed round funding.
• NFT card game Parallel raises $35 million, with investments from Amber Group and others.
• DeFi protocol Unstable Protocol completes a $2.5 million funding.
• "Hybrid" L2 network BOB raises $10 million in funding, led by Castle Island Ventures.
• Web3 game company Elixir Games completes a $14 million seed round funding.
• Decentralized cloud infrastructure provider Hive completes a $13 million Series A funding round, led by SC Ventures.
• Web3 AI platform MyShell closes $11 million funding, led by Dragonfly.
• Layer-1 blockchain platform Peaq raises $15 million, led by Generative Ventures and Borderless Capital.

IV. Regulatory news

• Dutch prosecutors seek a 64-month prison term for Tornado Cash developer Alexey Pertsev.
• UK FCA will strengthen regulation on financial influencers promoting memecoins.

V. Popular projects 

Ethena to launch tokens on April 2nd

Ethena is a synthetic dollar protocol based on Ethereum, offering a native crypto solution for currencies that are not reliant on traditional banking services. After launching its mainnet on February 19th, Ethena initiated the Shard Campaign. The campaign has so far lasted for 6 weeks, reaching a TVL (Total Value Locked) of $1.4 billion, with 99,200 participating users. On April 2nd, Ethena will open an airdrop for users. Ethena's score on Whales surged by 51% in a single day. This airdrop accounts for 5% of the total, and the token will be launched quickly, attracting high market attention.

Zeus to launch tokens on April 4th

Zeus Network is an advanced, permissionless communication layer connecting Solana and BTC. Through APOLLO, users can stake native $BTC in return for 1:1 two-way pegged $zBTC. This allows liquidity providers to participate in decentralized applications on Solana. At 11 PM on April 4th (Singapore time), the $ZEUS token will be the first to launch on the Jupiter LFG Launchpad, with an initial supply of 5%. An additional 0.25% ZEUS token reward will be provided for JUP users who participated in the first round of voting. The market has shown decent attention towards this launch.

ETHFI reaches a historical high

ETHFI, a leading project in the re-staking track, has set a good precedent for projects that have yet to issue tokens. Since its launch, the token has seen a cumulative increase of over 140%, and the TVL (Total Value Locked) has reached a historic high of $3.12 billion. It's worth paying close attention to projects in the re-staking track that have not yet issued tokens, including Renzo, Swell, and Puffer.

NAVI soars over 50% in one day

NAVI Protocol is a leading lending protocol in the Sui ecosystem. With the TVL (Total Value Locked) of the entire Sui network breaking through $700 million, setting a new historical high, the data for core protocols within the Sui ecosystem such as Navi, Scallop, Cetus, etc., have significantly increased. Particularly noteworthy is the NAVI Protocol, which has seen a 34% increase in TVL over the last month, locking in a value of $163 million, currently ranking first within the Sui ecosystem.

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