Crypto market weekly summary:
🔥The overall crypto market showed a downward trend this week, with a small rebound near the weekend closing stage.
🔥According to SoSoValue and Lookonchain data, 9 US spot Bitcoin ETFs (including Grayscale) continued to have net outflows this week, with a total net outflow of US$478 million on May 2, a total net outflow of US$564 million on May 1, a total net outflow of US$162 million on April 30, and a total net outflow of US$51.5 million on April 29.
🔥This week, the median Ethereum Gas reached a three-year low. On April 27 and May 2, the Gas fee was as low as 6.43 gwei. In the past 7 days, the circulating supply of Ethereum has increased by more than 10,000 pieces.
🔥On May 2, the London Decentralized AI Summit was held at the Gatsby Center for Computational Neuroscience at University College London. Several industry experts discussed the future of decentralized-driven artificial intelligence. Trias, a decentralized cloud computing infrastructure, Gensyn, a distributed AI computing network, and Flock.io, an AI privacy solution, delivered keynote speeches.
🔥LayerZero, a cross-chain interoperability protocol, announced that Snapshot#1has been completed and more information will be released soon.
🔥According to TheBlock data, this week, the 7-day moving average of Bitcoin's market value to transaction fee ratio is lower than Ethereum for the first time since July 2019.
🔥Saylor noted in a social media post that the company purchased an additional 122 BTC in April.
🔥Eigenlayer, an Ethereum re-staking platform, released the white paper for its proposed new token EIGEN on April 29 and announced the token airdrop plan on April 30.
🔥The Ethereum Foundation sold 100 ETH (about $290,000) through Cowswap on May 2, and later transferred another 200 ETH to Kraken.
🔥Venture capital firm a16z has purchased about $90 million worth of Optimism's native OP tokens, according to two people familiar with the matter. This investment will be executed within a two-year vesting period.
🔥Tether increased its holdings by 8,900 BTC this quarter, holding a total of 75,353 BTC, accounting for 0.38% of the total supply of Bitcoin.
🔥According to Tether's first quarter report for 2024, as of the date of the report (May 1), Tether Group's total strategic investment exceeded $5 billion, covering multiple fields such as artificial intelligence and data, renewable energy, P2P communications and BTC mining.
🔥Hong Kong's first batch of spot cryptocurrency ETFs performed actively on the first day, with a transaction volume of more than HK$87 million and a transaction volume of more than HK$68.4 million on the second day.
🔥ZhongAn Bank said it will launch retail virtual asset trading soon.
🔥Investment bank TD Cowen said the US SEC is unlikely to approve a spot Ethereum ETF before 2025.
🔥US lawmakers urged the SEC to approve options based on Bitcoin spot ETFs.
🔥Australia is expected to approve spot Bitcoin and Ethereum ETFs by the end of 2024.
🔥According to DTCC data, the spot Ethereum ETF (FRANKLIN ETHEREUM TR ETHEREUM ETF) (code EZET) launched by asset management company Franklin Templeton has been listed on the DTCC (US Securities Central Depository and Clearing Corporation) website, and the Create/Redeem column shows Y.
🔥The decentralized AI training platform Triathon recently launched the second phase of TDO. TDO (Test Driving Offering) is the first crypto asset issuance platform in the Web3 industry launched by Triathon, a Trias ecological project.
🔥Aave Labs released the "Aave 2030" temperature check proposal and plans to launch Aave V4, etc.
🔥Solana ecological DEX derivatives platform Drift has launched an airdrop query portal, with a total of 1 billion tokens, 12% of which are used for airdrops.
🔥AI gaming platform Ultiverse gold chip NFT sales reached 33,873 ETH, worth about US$100 million.
🔥Wormhole announced that its ecosystem plan includes three components: Wormhole Accelerator, Cross-Chain Ecological Fund, and xGrant Plan.
