SLERF receives support from CEXs including HTX and Bitget

March 20, 2024

I. Mainstream exchange news

• Coinbase CEO has no plan to seek a banking license.
• Coinbase International will launch COSMOSDYDX-USDC market on March 27th.
• Binance tightens requirements for its principal brokers to exclude US investors. 

II. Mainstream projects and trending events

• BlackRock collaborates with Securitize to launch a tokenized asset fund.
• Grayscale plans to add collateral features to its proposed Ethereum ETF.
• Dutch authorities accuse Tornado Cash developer Alexey Pertsev of aiding in laundering $1.2 billion.
• Immutable, King River Capital, and Polygon Labs collaborate to establish a $100 million Web3 game fund.
• US SEC postpones decision on Hashdex and Ark 21Shares Ether spot ETF.
• BlackRock executive said that Bitcoin spot ETF is meeting the "repressed demand" of investors.
• Genesis agrees to pay a $21 million fine to settle SEC accusations.
• Jupiter donates SLERF limit orders and DCA fees to Slerf pre-sale buyers.
• Bitcoin Layer 2 project BVM is set to launch an AI platform called "Truly Open AI".
• SBF's sentence is scheduled for March 28th.
• SLERF founder stated that a donation wallet has been set up, with LBank making the first donation and acting as the custodian of the address.

III. Funding news

• Smart currency protocol Umoja completes a $4 million seed round of funding participated by Coinbase.
• Hybrid crypto exchange GRVT completes a $2.2 million strategic round of funding.
• Blockchain infrastructure project for chain games, ZKasino completes Series A funding at a $350 million valuation.
• Layer1 blockchain MANTRA, focusing on RWA assets, completes a $11 million strategic funding.
• Crypto compliance platform Keyring completes a $6 million seed round of funding, led by Gumi Cryptos Capital and Greenfield Capital.

IV. Regulatory news

• EU legislators voted to adopt three key texts in the anti-money laundering package, which also apply to cryptocurrencies.
• The UK FCA plans to introduce a market abuse regulatory system for the cryptocurrency industry.
• Japan's pension investment fund GPIF is considering using Bitcoin as one of its diversified investment tools.

IV. Popular projects 

Market overview

BTC has breached a key support level of $63,500, setting sights on the next target around $59,800, which is roughly the midpoint of the bullish candlestick pattern formed on February 28th. The primary aim of this adjustment phase is to reach the $59,000 level, which presents a strategic location for investors to gradually accumulate spot holdings. Both ETH and SOL positions can be adjusted following the comparative strength of their respective exchange rates.

The upcoming Federal Reserve's interest rate meeting on March 20th is expected to retain the current interest rate, making it ideal for investors to stay defensive and await optimal retracement levels for BTC towards the end of March. This prudent approach is particularly suited for the majority of investors in the current market circumstances.

SLERF received donations of $600,000

SLERF reached a trading volume as high as $3 billion on March 19th, surpassing the total trading volume of Ethereum DEX chains. Multiple exchanges and projects have announced their support for Slerf to help recover prepayments, including:

Lbank became the first donor, serving as the custodian of the donation address for the pre-sale event;

Justin Sun donated all SLERF trading income on HTX, as well as some HTX tokens to support Slerf's transaction fee mining activity on HTX;

Bitget Marketing Director Gracy announced the donation of all SLERF transaction fees on Bitget, with donation details to be updated weekly;

Jupiter donates SLERF limit orders and DCA fees to Slerf's pre-sale buyers;

Beeple released a tweet titled "THE RISE OF SLERF" with a picture featuring the Slerf logo to support the entire community;

The current donation address holds 3500+ SOL worth $600,000. Though it still has a certain gap from $10 million, this narrative has a decent imaginative space (https://solscan.io/account/fCuw5ppJ9aZYzjm8EsT2fHwxV1h5JwUfqXM44iX3Pzb)

Fantom (FTM) hit a recent new high

Fantom launched the Fantom Sonic testnet in October 2023, followed by the Sonic Labs startup accelerator in December, to promote innovation within its new Sonic tech stack. On March 14, 2024, they rolled out data extracted from the Sonic closed testnet, setting the stage for the mainnet to go live. This newly introduced product has led to an uptick in the public chain's performance, sparking the users' curiosity. Simultaneously, FTM hit a recent new high on March 19th, with the token price surpassing 1 USDT, coupled with a 24-hour surge of 15%.

Merlin opens M-Token asset claiming

On March 19th, Merlin announced that users can freely mint M-Tokens (M-BTC, M-SATS, and M-ORDI among others) on the Merlin Layer 2. M-BTC is the first token being made accessible. This advancement will augment users' asset efficiency and pave the way for more capital pledge and loan recycling mechanisms. Concurrently, to a certain degree, it will unleash the liquidity of substantial assets, affording users the flexibility to formulate strategic plans. The TVL (Total Value Locked) in Merlin's Seal is currently at $3.22 billion.

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