Daily Quotes (April 12, 2024 20:16)
ChainDD's market data on April 12 shows that the combined DD index and CoinMarketCap quotes are:
BTC was at $67,589.22, down about 3.26% in 24 hours;
ETH was at $3,269.95, down about 5.56% in 24 hours;
BNB was trading at 594.29 USD, down about 2.88% in 24 hours;
DOGE was at $0.1717, down about 10.21% in 24 hours;
DOT was trading at $7.18, down about 12.43% in 24 hours.
Chain Circle Dynamics
Sui mainnet has been upgraded to version V1.22.0, and the protocol has been upgraded to version 42
According to official news, the Sui mainnet has been upgraded to version V1.22.0, and the Sui protocol has been upgraded to version 42. The key points of this upgrade include:
1. Provided more accurate rounding calculations in Deepbook accessor functions (read-only);
2. Added support for the serialize-signed-transaction and serialize-unsigned-transaction flags;
3. Fixed a bug where sui client verify-bytecode-meter incorrectly returned the tick used by the last function to be verified as the tick used by the last module to be verified;
3. Added a --module/-m flag to sui client bytecode-verify-meter to verify some module bytecodes;
4. Enable EC (elliptic curve) operations in Move;
Adjusted the write_to_lock process so that it only updates the relevant part of the Move.lock file instead of erasing and recreating the file on each call;
6. Added the Move interface for generating secure random values. RandomGenerator is a PRG whose seed comes from global randomness (the same between randomness rounds) and has a new UID guaranteed to be unique by the framework;
7. The sui framework code is now running on Move 2024;
8. When using the sui move new or move new commands, the default Move.toml file created has been formatted to be compatible with the Move 2024 beta version;
9. Added a migrate command to the Sui Move CLI command set.
Less than 1,000 blocks left until Bitcoin’s fourth halving
BTC.com data shows that there are less than 7 days left until the fourth Bitcoin block reward halving, with 996 blocks remaining, and the estimated halving time is April 20, 2024.
To date, the Bitcoin network has experienced three halvings in 2012, 2016 and 2020.
Cryptocurrency News
Analyst: Solana recently captured more MEV for validators than Ethereum
Dan Smith, senior analyst at Blockworks Research, wrote on the X platform that data shows that Solana has recently captured more MEV for validators than Ethereum.
Ripple may hold a settlement meeting with the US SEC next week
According to @RippleArchive on the X platform, a settlement meeting with the SEC is expected to be held next week. According to XRP community member Ashley Prosper, the legal dispute between the SEC and Ripple is likely to end in a settlement because the U.S. Second Circuit Court of Appeals rejected the SEC's request to confiscate Ripple's illegal gains. It is worth noting that the court believes that if the buyer has not suffered economic losses, the SEC has no right to recover the stolen money from the seller. In addition, it has not been determined which institutional investor suffered economic losses from purchasing XRP from Ripple.
Industry insiders: Southbound funds cannot buy Hong Kong Bitcoin spot ETF
Several Hong Kong issuers of Bitcoin ETFs said that southbound funds would definitely not be able to buy virtual currencies and related ETFs. Matrixport previously stated in a report that Hong Kong-listed Bitcoin spot ETFs are expected to attract up to US$25 billion in capital inflows from mainland Chinese investors through Southbound Connect, which many Hong Kong ETF participants believe is pure nonsense.
It is reported that mainland Chinese capital investing in Hong Kong stocks needs to enter Hong Kong from mainland China through the Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect. The capital from both sides is collectively called southbound capital.
Wu Jiezhuang: It is recommended that Hong Kong establish a "virtual asset bank" to address industry pain points
Wu Jiezhuang, member of the National Committee of the Chinese People's Political Consultative Conference and member of the Legislative Council of the Hong Kong Special Administrative Region, wrote an article in Ta Kung Pao titled "Inside and Outside the Parliament/Three Parties Work Together to Develop a "Virtual Asset Bank"". The article pointed out that the establishment of a "virtual asset bank" is aimed at the pain points of the industry, and further provides comprehensive virtual financial services and facilities, including providing virtual currency trading and exchange services to individual customers, and providing unified virtual asset clearing and settlement and custody services to qualified virtual asset service providers, thereby lowering the market entry threshold for small and medium-sized investors; and assisting and encouraging the industry to provide related "mid-income businesses" such as insurance, funds, and asset management, provide more innovative virtual financial products and services, and comprehensively develop an ecosystem that combines traditional and virtual finance.
U.S. Bitcoin spot ETF saw net outflow of $55 million yesterday
According to data from HODL15Capital, the U.S. Bitcoin spot ETF had a net outflow of US$55 million yesterday, of which GBTC had a net outflow of US$166 million, BlackRock IBIT had a net inflow of US$111 million, and Fidelity FBTC had a net inflow/outflow of 0 yesterday.
Glassnode: Binance accounts for 37.5% of the spot market share, and its dominance is declining
According to analysis by on-chain data analysis company Glassnode, the spot trading volume of the Bitcoin market has increased since the listing of the US spot ETF in January 2024. By mid-March, as the market reached an all-time high (ATH) of US$73,000, the daily trading volume reached approximately US$14.1 billion.
Binance still has a 37.5% market share in the spot market, however, this dominance is declining compared to the previous cycle. In 2021, Binance accounted for 50% of trading volume, but during the deep bear market in 2022, its share of trading volume reached an astonishing 85%+.
Overall, Bitcoin’s price action year-to-date has been supported by significant growth in spot trading volume and increased on-chain trading liquidity.
In the past 24 hours, 5 whale addresses withdrew more than 10 million ENA from CEX for staking
According to monitoring by The Data Nerd, in the past 24 hours, 5 whale addresses withdrew more than 10 million ENA from CEX and deposited them into Ethena Labs for staking.
European Securities and Markets Authority: 70% to 80% of secondary crypto market transactions occur between cryptocurrencies and stablecoins
According to the latest analysis of the crypto-asset market structure by the European Securities and Markets Authority (ESMA), approximately 70% to 80% of secondary market transactions occur between crypto-assets and stablecoins and do not involve fiat currencies.
While this happens frequently, the ESMA report suggests that trading between cryptocurrencies and stablecoins often gives way to crypto-to-cryptocurrency trades other than stablecoins during periods of strong growth. The report supports this theory by pointing to a surge in crypto-to-cryptocurrency volumes and a decline in crypto-to-stablecoin volumes in 2020 and 2021. A similar trend was seen in the second half of 2023.
Additionally, the ESMA report noted that the growth in crypto transactions involving fiat currencies may indicate investors’ “increased demand for cash out or risk-averse behavior,” and that while the U.S. dollar is the most commonly used fiat currency by investors when trading, the use of the Korean won is also growing significantly.
