headlines
According to official news from Odaily, the cross-chain infrastructure Wormhole announced the launch of the native ERC-20 token W and released token economics. The total supply of W tokens is 10 billion, with an initial circulation of 1,800,000,000. The allocation ratio is as follows:
1. Guardian node: 5.1%;
2. Community initial release: 17%;
3. Ecology Incubation: 31%;
4. Core contributors: 12%;
5. Strategic network participants: 11.6%;
6. Foundation treasury: 23.3%.
BTC breaks through 45,000 USDT
Odaily News OKX market shows that BTC exceeded 45,000 USDT, with a 24-hour increase of more than 4%.
Binance’s new coin mining launches Pixels (PIXEL), BNB and FDUSD can be mined
According to Odaily’s official announcement, Binance’s new coin mining has now launched the 46th phase of project Pixels (PIXEL), which is a social network game based on the Ronin network.
Users can invest BNB and FDUSD into the PIXEL mining pool on the Launchpad website after 08:00 on February 9 (East Eight District time) to obtain PIXEL rewards. PIXEL can be mined for a total of 10 days. The website is expected to be updated within approximately twenty-four hours of this announcement and before the mining activity opens.
Binance will list Pixels (PIXEL) at 18:00 on February 19th (Eastern Eighth District time), and open the PIXEL/BTC, PIXEL/USDT, PIXEL/BNB, PIXEL/FDUSD and PIXEL/TRY trading markets. Seed tags are applicable Trading Rules.
PANDORA broke through 20,000 US dollars, with an increase of over 130% in 24 hours
Odaily News CoinGecko data shows that Pandora (PANDORA) exceeded 20,000 US dollars, with a 24-hour increase of over 130%.
Ethereum Dencun upgrade will be launched on the mainnet on March 13
Odaily News EthHub co-founder Anthony Sassano (sassal.eth) posted on the X platform that the Ethereum Dencun upgrade will be launched on the mainnet on March 13, and EIP-4844 is coming soon.
Montenegro Court of Appeal reverses Do Kwon’s extradition ruling and remands case for retrial
Odaily News The Montenegro Court of Appeal quashed a ruling involving the extradition of Do Kwon and sent the case back to the court of first instance for a new trial. The Court of Appeal pointed out that the original ruling contained serious irregularities and was unclear and insufficiently justified. Previously, the court of first instance determined that the extradition request was met, but did not take into account the simplification of international legal assistance procedures and the situation where multiple countries requested extradition. The ruling will be published on the Court of Appeal website.
Project Highlights:
Odaily News Binance Research Institute released a research report on the social Web3 game Pixels. As of February 8, the Pixels project has raised US$4.8 million through 3 rounds of private token sales, of which 14% of the PIXEL token supply has been sold at unit prices. On sale for $0.005, $0.009 and $0.012. As of February 8, the maximum supply of PIXEL was 5 billion, and the initial circulation after going online was 771,041,667 (accounting for approximately 15.42% of the maximum supply).
Regarding its token sale and economics, 7% of the maximum supply of tokens is allocated to Binance New Coin Mining, 14% to private investors, 12.5% to the team, 9.5% to advisors, 34% to Ecosystem rewards, 17% are allocated to the treasury, 1% is allocated to liquidity, and 5% is allocated to Alpha rewards.
The current roadmap for the project is:
Q1 2024: Chapter 2, introduction of PIXEL token; Guild (combination of SocialFi and Web3 games); Extra Pet (Pet) minting;
Q2 2024: Caves and Contested Lands updates; Chapter 3, introducing a combat system; launch of Realms, player-created worlds and universes;
Q3 2024: Chapter 4, Farm upgrades and automation; Realms scripting engine;
Q4 2024: Chapter 5, Generative Questions and Exploration.
In addition, Pixels issued a document on the Proportional distribution. Pixels stated that the initial token exchange ratio is 1000 BERRY: 7.6175 PIXEL.
According to previous news, Binance’s new coin mining has now launched the 46th phase of project Pixels (PIXEL). Users can invest BNB and FDUSD into the PIXEL mining pool on the Launchpad website after 08:00 on February 9 (East Eight District time) to obtain PIXEL rewards. PIXEL can be mined for a total of 10 days.
Binance: Web3 wallet now supports ERC 404 tokens
Odaily News Binance issued a document on the X platform stating that the Binance Web3 wallet has supported ERC 404 tokens.
Merlin Chain: Staking has been launched, and pledge points are calculated on a daily basis
Odaily News Merlin Chain issued a document on the X platform announcing that it has been launched for staking. Merlin Chain stated that staking points are calculated on a daily basis, ETH/USDT/USDC staking will be online within a few hours, and M-Token will be online within a few days.
Binance Labs Fund says it is reviewing applications for the MVB Accelerator Program for Season 7
Odaily News Binance Labs Fund tweeted that it is reviewing applications for the MVB Accelerator Program for Season 7 and will contact founders who are about to enter the next stage of interviews. Binance Labs said that only projects that prioritize product development and issue native tokens on BNB Chain will be considered.
Odaily News Jupiter updated the USDC liquidity information in Launchpool on the Removed within 2-3 months.
Odaily News The Uniswap Foundation announced its reimagined Grants strategy and plans to allocate $30 million in Grants in the next two years. The Uniswap Foundation will focus on larger strategic initiatives and plans rather than funding one-off projects, events and content.
Highlights of the new Grants strategy are as follows:
- Fewer but larger, long-term oriented plans: The Uniswap Foundation has shifted its strategy from funding medium-sized projects to providing larger Grants of more than $250,000, with each project dedicated to building the Uniswap ecosystem in the coming years. .
- Stakeholder-centered design of grants around four specific audience categories (developers, researchers, governance, and innovation) and redesign of the grant development process.
-Indicator-based funding. Starting this year, the Uniswap Foundation will define, capture and report measurable short-term and long-term KPIs to serve each macro goal.
Frax Finance announces the launch of modular L2 blockchain Fraxtal
Odaily News Frax Finance announced the launch of the modular Layer 2 blockchain Fraxtal. The Fraxtal testnet and mainnet are open to select launch partners, and regular users will be able to connect to the chain in the next few days.
Fraxtal is a blockchain with a block space incentive mechanism (called Flox) that rewards blocks on a block-by-block basis based on blockchain usage. Accounts and smart contracts that use specific DApps on Fraxtal will be rewarded with FXTL points based on the Flox algorithm.
All incentive systems, liquidity rewards, new FXTL points, and airdrop snapshots will begin later this month to give launch partners and teams time to deploy their DApps and stake FXS.
Frax also stated that it will airdrop FXTL points on a large scale to veFXS stakers based on the veFXS balance at 23:59 UTC on March 6. The Flox mechanism will go live the second week after this airdrop.
ETH pledge ratio increased by more than 25% for the first time
Odaily News The ETH pledge ratio has increased to 25%. Nearly a year after the Ethereum Shapella upgrade, the total number of Ethereum exceeded 30.1 million, worth approximately US$73 billion. The staking yield dropped from the peak of 25% to less than 4%.
Lido Finance validators currently account for over 31% of ETH staking, with the Coinbase staking service in second place with 14% and Binance in third place with 4%.
Investment and Financing
Odaily News DEX aggregator Flood completed a $5.2 million seed round of financing, with Bain Capital Crypto and Archetype co-leading the investment, and Robot Ventures participating. Flood is a DEX aggregator currently live on Arbitrum One, with plans to expand to Ethereum, Base, and Optimism in the coming months.
Odaily News Cross-chain revenue market Superform Labs announced that it has completed a total of US$6.5 million in financing through angel rounds and seed rounds. Polychain Capital led the seed round, with participation from BlockTower Capital, Maven 11, Circle Ventures, etc. Superform is a permissionless cross-chain yield marketplace that allows DeFi protocols to list their vaults or asset pools into which crypto users can deposit funds and earn yield.
SevenX Ventures: Total investment in 2023 will exceed US$40 million, with 11 leading investors
According to official news from Odaily, SevenX Ventures’ total investment amount in 2023 will exceed US$40 million, and the number of investments will exceed 40. The key investment directions are infrastructure and games. Representative portfolios include Flashbots, Manta Network, Altlayer, Renzo, Matr1x, AI Arena, Curio, Myshell, etc., and has reached in-depth research-oriented cooperation with leading projects such as Arbitrum, Optimism, Eigenlayer, Uniswap, etc.
In the future, SevenX will continue to leverage its advantages in the field of research and empower more early-stage entrepreneurs through professionalism and cutting-edgeness.
Industry news
Hong Kong launches legislative consultation on over-the-counter cryptocurrency trading
Odaily News The Hong Kong government announced the launch of a public consultation on legislative proposals to establish a licensing system for virtual asset over-the-counter trading service providers.
Key points include: Anyone who provides any services of virtual assets and spot money transactions in the form of business in Hong Kong must apply for a license from the Commissioner of Customs and Excise; empower the Commissioner of Customs and Excise to supervise the compliance of licensees in combating money laundering and terrorist financing situation; provide transitional arrangements to allow the regulatory system to be effectively implemented.
U.S. Treasury Department Report: Criminals and Scammers Are Increasingly Turning to Cryptocurrencies
Odaily News The U.S. Department of the Treasury released the 2024 National Money Laundering, Terrorist Financing and Proliferation Financing Risk Assessment Report, which focuses on illegal financial threats, vulnerabilities and risks in the United States. Its report said criminals, scammers and illegal actors are increasingly turning to virtual assets.
The report details how bad actors launder money through the continued use of cash and the increasing use of cryptocurrencies to commit fraud, drug trafficking, people smuggling and corruption. The U.S. Treasury Department said it plans to release a strategic plan in the coming weeks aimed at providing recommendations to address these issues.
The U.S. Department of the Treasury defines a virtual asset service provider (VASP) as a provider of services involving transactions between virtual assets and legal tender, transactions between different forms of virtual assets, and the transfer and custody of these assets. The U.S. Treasury Department said that some virtual asset service providers did not comply with U.S. requirements, either claiming to be exempt from the rules or not registering properly.
The report pointed out that according to the Bank Secrecy Act (BSA), DeFi services belonging to financial institutions must comply with anti-money laundering/anti-terrorist financing (AML/CFT) regulations. “Nevertheless, many existing DeFi services fail to comply with AML/CFT obligations, a vulnerability exploited by illicit actors.” Criminals are looking to exploit new financial services, including DeFi and online gaming.
The U.S. Treasury Department also expressed concern about the increased use of stablecoins in the report: “The 2022 National Terrorist Financing Risk Assessment (NTFRA) report shows that terrorist groups most commonly solicit donations of virtual assets in the form of Bitcoin, and now Virtual asset donations to terrorist groups are increasingly turning to stablecoins.”
Disney to invest $1.5 billion in Epic Games and team up to create a new social universe
Odaily News Disney announced that it will invest US$1.5 billion in the game company Epic Games to acquire part of its equity. The two parties will also work together to create a new open, persistent and social universe that further expands Disneys popular stories and experiences.
The trailer states that a new universe is about to be born where players can play, visit, create and shop while exploring a place where magic and epic meet.
Disney emphasized that the company has long used Epics Unreal Engine in film and television editing and theme park projects such as Odaily Wars: Galaxys Edge. Disneys new game universe will also be built using Unreal Engine, the company said.
In response, Cointelegraph commented that less than a year ago, Disney cut the Metaverse division, but now it looks like it is working with Epic Games to create another Metaverse division.
Odaily News According to a report released by Fidelity Digital Assets, as of the end of the fourth quarter of 2023, data shows that the short-term and long-term prospects of Bitcoin and Ethereum are generally optimistic.
Bitcoin prices are up 154% through the end of 2023, having broken through many short- and long-term indicators at the time Fidelity wrote this report. The reduction in the supply of tokens present on exchanges will be a key indicator to watch closely in 2024 and highlights the importance of alternative custody options, such as self-custody or using a regulated third-party custodian.
The price of Ethereum increased by approximately 90% during the same period, and there were also short-term positive price signals and growing on-chain indicators in late 2023. Overall, the slowdown in the growth of staked Ethereum, the adoption of Layer 2, and the continued use of the base layer all point to a healthy Ethereum ecosystem in 2024.
Bakkt: Company may not be able to continue operations due to cash shortage
Odaily News Digital asset platform Bakkt warned on Wednesday that the company may not be able to continue operating.
Bakkt said in a filing with the U.S. SEC: We may not be able to continue operating. Our cash and restricted cash will be difficult to support our operations in the next 12 months.
Bakkt was founded by Intercontinental Exchange with the initial goal of helping Starbucks customers purchase coffee using Bitcoin. Bakkt launched a digital wallet in 2021, but it was discontinued last year as Bakkt pivoted to technology services for enterprises.
Bakkt goes public in 2021. The companys shares closed at $1.45 on Wednesday, well below their 2021 price of more than $40.
ETF Progress
Bitcoin spot ETF saw a net inflow of US$145 million yesterday
Odaily News According to monitoring by Farside Investors, the net inflow of funds into the U.S. Bitcoin spot ETF on the 19th trading day (February 7) was approximately US$145 million.
Among them, Grayscale’s GBTC had a net outflow of US$81 million, BlackRock’s IBIT had a net inflow of US$56 million, Fidelity’s FBTC had a net inflow of US$130 million, Bitwise’s BITB had a net inflow of US$21 million, and Ark 21 Shares’ ARKB had a net inflow of US$130 million. Inflows were $3 million, Invesco BTCO had a net inflow of $9 million, Franklins EZBC had a net inflow of $5 million, Valkyries BRRR had a net inflow of $1 million, WisdomTrees BTCW had a net inflow of $1 million, and VanEcks HODL had a net inflow of $1 million. Traffic changes are not significant and are not included in statistics.
Note: The data collected by Farside Investors is generated automatically and in real time, and the method used to generate this table focuses on speed rather than accuracy.
Odaily News According to data released by Bloomberg analyst James Seyffart, the total trading volume of spot Bitcoin ETFs today exceeded US$1 billion. BlackRocks IBIT ranked first at US$340 million, followed by GBTC at US$296 million. , Fidelity’s IBTC is $200 million.
As of the close of U.S. stocks on February 7, the total trading volume of the U.S. spot Bitcoin ETF since its listing was $32.7216 billion.
JP Morgan: BlackRock and Fidelity Bitcoin ETFs Already Ahead of GBTC on Two Liquidity Metrics
Odaily News According to JPMorgan Chase, BlackRock and Fidelity’s spot Bitcoin ETFs are already ahead of Grayscale’s GBTC on at least two liquidity indicators. The first indicator is JPMorgans market breadth indicator based on the Hui-Heubel ratio. This metric is about four times lower for the BlackRock and Fidelity ETFs, meaning the two ETFs have significantly greater market breadth than GBTC, JPMorgan analysts led by Nikolaos Panigirtzoglou wrote in a note on Wednesday.
The second metric is based on measuring the average deviation of an ETFs closing price from its net asset value. Analysts said this metric suggests that the Fidelity and BlackRock spot Bitcoin ETFs’ ETF price deviations from net asset value were close to those of the SPDR gold stock ETF in the latest week, indicating a significant improvement in liquidity. Meanwhile, analysts added that the GBTC ETFs bias remains high, indicating lower liquidity.
Analysts noted that while these two metrics do not capture all dimensions of market liquidity, especially market depth, there is evidence that BlackRock and Fidelity’s Bitcoin ETFs perform better on certain liquidity metrics related to market breadth. It has more advantages than GBTC. Analysts also noted that if GBTC fees are not lowered, the fund could see more outflows and lose money to other ETFs, particularly BlackRock and Fidelity’s Bitcoin ETFs.
Odaily News Bitwise official data shows that as of February 7, local time, its Bitcoin Spot ETF (BITB) held 16,067.78 BTC, an increase of 485.25 BTC from the previous trading day (15,582.53 BTC), and the market value of its holdings reached 707, 504, 536.14 US dollars; the current circulating share of BITB is 29, 470, 000 units.
Odaily News Grayscale official data shows that as of February 7, local time, GBTC held a total of 470,637.4128 Bitcoins, a decrease of approximately 1707.64 Bitcoins from the previous trading day (472,345.0521 Bitcoins).
In addition, GBTCs assets under management (non-GAAP) were $20,762,470,675.49, and the circulating share dropped to 526,870,100 shares.
Grayscale transferred 1,500 BTC to the Coinbase Prime address and 2,276.6 BTC to the new address
Odaily News Arkham data shows that Grayscale transferred 1,500 BTC to the Coinbase Prime address and 2,276.6 BTC to the new address.
