Apr 22, 2024

The US SEC accuses Justin Sun of selling unregistered securities

Hot projects + Market overview

I. Mainstream exchange news

Kathryn Haun to resign from the Coinbase board.
Crypto.com denies reports of Korean regulators delaying its local department leadership changes.
He Yi affirms CZ's positive situation under current US regulations, claiming past regulatory pressures were expected internally.
The US SEC accuses Justin Sun of "traveling extensively" to the US and selling unregistered securities.
OKX launches an on-chain earning airdrop activity for SUI, where users can enjoy double rewards of staking income and airdrop.

Bitcoin completes its fourth halving at block height 840000, and the block reward after halving is 3.125 BTC.
Runestone snapshot for the DOG airdrop has been completed. DOG runes will be automatically airdropped to qualified wallets.
Tether CEO states that 35 million in USDT have been issued on TON.
The second round of Jupiter's LFG Launchpad voting has ended, with the LST protocol Sanctum getting 64% of the votes.
Fjord Foundry announces the launch of FJO airdrop claiming.
TeleportDAO raises $9 million in CoinList token sale.
LayerZero launches modular L2 blockchain Camp Network testnet.
friend.tech to launch v2 version on April 29th.
Magic Eden to expand to the Base network on April 25th.
INJ 3.0, the governance proposal of Injective, is live, proposing a significant upgrade to tokenomics.

III. Funding news

Social platform Only1 completes $1.3 million in strategic funding, led by Newman Group.
Bitcoin NFT project INK receives $10 million in funding.
Rune analysis infrastructure protocol SatScreener completes a $500,000 pre-seed funding led by Sora Ventures.
Web3 multi-game platform Circle of Games completes $1 million in strategic funding.

IV. Regulatory news

The Nigerian High Court postpones the trial of the Binance tax evasion case until May 17th.
The US Internal Revenue Service releases a draft digital asset tax form.

V. Popular projects

Market Overview

From an analytical viewpoint, BTC has established a double bottom pattern seen in the 4-hour chart, with two core supports at $62,000 and $59,600. If BTC avoids setting new lows and continues to break through and remain above $67,000, it is indicative of ongoing bullish momentum. In terms of recent events, the completion of BTC halving, the absence of full-scale conflict between Israel and Iran, and the return of ETFs to net inflows all positively contribute to the market sentiment. Regarding trading strategy, the adoption of right-side trading and strict stop loss policies could enhance the chances of generating extra returns.

BTC Spot ETF

As of April 19th, updated data shows a net inflow of $12.32 billion into BTC spot ETFs, with a single-day net outflow of $59.56 million and a single-day turnover of $2.37 billion. The net assets of ETFs account for 4.27% of BTC's market value. Primary observations include:

GBTC: The single-day net outflow was $45.82 million, with a cumulative net outflow of $16.73 billion. The single-day turnover was $1.28 billion, and the current net asset value is $19.57 billion;

IBIT: The single-day net inflow was $29.28 million, with a cumulative net inflow of $15.42 billion. The single-day turnover was $451 million, and the current net asset value is $17.58 billion;

FBTC: The single-day net inflow was $54.77 million, with a cumulative net inflow of $8.14 billion. The single-day turnover was $336 million, and the current net asset value is $9.85 billion;

ARKB: The single-day net inflow was $12.53 million, with a cumulative net inflow of $2.21 billion. The single-day turnover was $116 million, and the current net asset value is $2.77 billion.

With the completion of BTC's halving and ETF funds returning to net inflow, which typically indicates certain level of continuity, the subsequent data changes could be monitored closely.

ALEPH is up by 63% in the last 24 hours

Aleph.im is an open-source decentralized network, aiming to provide secure and efficient storage and computing environment for distributed applications (dApps). Aiming to completely transform IoT, networks, and cloud through becoming the first native cloud blockchain, Aleph.im has launched the open-source LLM model Libertai, which users can use directly on Telegram. The token ALEPH has increased 63% in the last 24 hours.

Io.net to issue tokens soon

Io.net is slated to launch its tokens around April 28th, succeeded by the development of a DeFi platform, concentrated on mining power. This DeFi platform will extend avenues to users for trading, staking, lending, and leveraging computational resources, thereby attributing greater DeFi utilities (or possibly Ponzi characteristics?) to IO tokens. As part of its visionary roadmap, Io.net aims to develop on Layer1 and plans to adopt the SolanaVM (SVM), endorsing compatibility with the Solana ecosystem. Furthermore, the unveiling of an AI model store is on the horizon which merits future attention.

Significant token unlocks this week

Token Unlocks data shows that this week, tokens such as YGG, ID, and AGIX will encounter a one-time large unlock, releasing a total value of approximately $45.86 million. Among them:

Yield Guild Games (YGG) will unlock 16.69 million tokens at 10 pm (UTC+8) on April 27th, valued at approximately $15.71 million, accounting for 5.33% of the circulating supply.

SPACE ID (ID) will unlock 18.49 million tokens at 8 am (UTC+8) on April 22nd, valued at approximately $15.29 million, accounting for 4.29% of the circulating supply.

SingularityNET (AGIX) will unlock 8.84 million tokens at 8 am (UTC+8) on April 28th, valued at approximately $8.78 million, accounting for 0.69% of the circulating supply.

On-chain Daily

1.HACHI: HACHI is a memecoin named after the loyal dog, Hachi, centered around the narrative of loyalty. Community members who stake HACHI can earn LYT (loyalty token) rewards in the future.

The current price of HACHI is 0.0(7)1152 USDT, with a historical high of 0.0(7)18 USDT. The 24-hour increase is 102%, and the current market cap is $9.7M.

2.WOLF: WOLF is a memecoin whose IP claims to be Pepe's best friend (reported in the April 16th on-chain daily, has already had a 5.5 times increase).

The current price of WOLF is 0.0(4)581 USDT, with a historical high of 0.0(4)76 USDT. The 24-hour increase is 320%, and the current market cap is $18.8M.

3.TOM: TOM is a community-driven memecoin, with an IP of a character drawn by Pepe author, Matt Furie.

The current price of TOM is 0.0(5)18 USDT, with a historical high of 0.0(5)28 USDT. The 6-hour decrease is4.38% (token went online on April 21st).

4.BVM: BVM Network is the first modular Layer 2 on Bitcoin, allowing everyone to easily issue their Bitcoin Layer 2 using Bitcoin security and data availability, without additional network or consensus protocols. BVM has recently become a concern due to the recent Merlin Chain token issuance.

The current price of BVM is 4.94 USDT, with a historical high of 6.8USDT. The 24-hour decrease is 18.7%, and the current market cap is $60M.

5.MUBI: Multibit Bridge is a cross-chain bridge for BTC, supporting blockchains including ETH, Base, Solana, Polygon, and more. It plans to implement a swap feature in the future.

The current price of MUBI is 0.22 USDT, with a historical high of 0.35 USDT. The 24-hour increase is 5.21%, and the current market cap is $209M.

6.MONC: MONC comes from SocialFi Sofamon on the Base chain. MONC is a community memecoin with a cat IP. Staking was recently put in place, with expected future airdrop rewards.

The current price of MONC is 0.175 USDT, with a historical high of 0.189 USDT. The 24-hour increase is 13%, and the current market cap is $3.8M.

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