Mars Finance Crypto Daily January 25, 2024
1. Today’s News
Metis: Decentralized Sorter Season 2 Community Test Coming Soon
Metis tweeted that the decentralized sorter Season 2 community test will be launched soon. According to OKX market data, METIS rose 5.89% in 24 hours and is currently priced at $94.33.
Bitcoin spot ETFs saw net outflows of $158 million in the ninth trading day
BitMEX Research published an article on the X platform stating that the Bitcoin spot ETF had a net outflow of $158 million on the ninth trading day, of which GBTC had an outflow of $429.3 million, IBIT (BlackRock) had an inflow of $66.2 million, and FBTC (Fidelity) had an inflow of $125.7 million.
Analysis: Options data shows ETH will weaken for three months before strengthening
Amberdata analysis data pointed out that options related to Ethereum show that there is a trend of weaker prices for ETH in the next three months, and a slight tendency to strengthen prices in the following months. Ethereum's one-week bullish-bearish deviation fell to nearly -8 on Wednesday, the lowest level in more than three months, indicating that the market is more optimistic about the decline in Ethereum prices. Deribit founder Imran Lakha pointed out that the key level for ETH is $2,150, and a breakthrough could lead to further declines.
Solana Network NFT Weekly Sales Reach $62 Million, Surpassing Bitcoin Network
According to @SolaniansHub data, Solana network NFT sales reached US$62 million this week, surpassing the Bitcoin network and ranking first in the list except for the Ethereum mainnet.
Sleepless AI: Due to marketing and communication issues, Genesis NFT buyers suffered losses and will communicate with each one
Sleepless AI posted on the X platform: "Recently, we have heard a lot of challenges and confusion in the community about the Genesis series NFT. As a novice in Web3, we launched this HIM: Genesis series NFT after studying the common release methods of on-chain games. During this release process, due to the lack of understanding of the industry, the marketing staff did not grasp the details of the marketing work, and lacked fast, effective and transparent communication in the community. During this period, the NFT auction price rose, and the expected airdrop ratio and NFT price were far apart, resulting in losses for all Genesis NFT users holding HIM. At the same time, we also realized that there was no complete and systematic solution to the communication with users, but rather one by one."
Sleepless AI: We have actively communicated with all NFT buyers and repurchased NFTs from some buyers
Sleepless AI tweeted that it has actively communicated with all NFT buyers. For users who want to buy back NFTs, the team will buy back the amount of BNB paid by the buyer when the auction is finally completed. The buyback has been completed. For buyers who do not want to buy back NFTs for the time being, the team will continue to empower NFTs in the future, including but not limited to priority whitelists, exclusive game cards/props, and revenue appreciation. In addition, the team will make its product development progress transparent and synchronize all the latest product development content to the community in the form of weekly reports.
Curve discloses the progress of the lending market development: the one-way market is ready and is awaiting audit
Curve officially stated on the X platform that the one-way lending market based on crvUSD is ready and is awaiting contract audit. The two-way lending market (collateral assets can be lent) is also basically ready, the contract writing work has been completed, and testing is underway.
According to previous news, the address starting with 0x7a16 controlled by Curve founder Michael Egorov has obtained the ENS domain name of llamalend.eth, and may launch Llama Lend, an independent lending platform based on crvUSD.
Data: BTC options worth $3.74 billion and ETH options worth $2.05 billion will expire tomorrow
According to Deribit data, BTC options with a nominal value of $3.74 billion will expire and be delivered tomorrow, with a Put Call Ratio of 0.52 and a maximum pain point of $41,000. ETH options with a nominal value of $2.05 billion will expire and be delivered tomorrow, with a Put Call Ratio of 0.31 and a maximum pain point of $2,300.
EigenLayer extends the re-staking window to February 6 to February 10 and removes the cap for all LST
Ethereum re-staking protocol EigenLayer tweeted that it will introduce three new LSTs in the EigenLayer re-staking ecosystem: sfrxETH, mETH, and LsETH, and remove the 200,000 ETH personal cap for LST. In addition, the team is introducing a new method for allocating re-staking points, which will set the cap on re-staking points allocated to any LST, LRT, or personal deposit to 33% of the total future issuance. The team will lift the suspension from 16:00 Beijing time on February 6 to 16:00 on February 10 (12:00 Pacific time on February 5 to 12:00 Pacific time on February 9), adding LST sfrxETH, mETH, and LsETH, and there is no cap on any LST, after which all deposits will be suspended again.
Bloomberg analyst: GBTC volume drops again, may be a sign of exhaustion of selling
Data released by Bloomberg analyst Eric Balchunas showed that GBTC trading volume fell again today, which may be a sign of exhaustion of selling. Bloomberg data showed that GBTC trading volume today was $462 million, compared with $762 million yesterday.
SEC Delays Decision on BlackRock’s Spot Ethereum ETF
The U.S. SEC has postponed its decision on BlackRock's spot Ethereum ETF (iShares Ethereum Trust). Bloomberg analyst James Seyffart said that in the coming months, delays in the spot Ethereum ETF will continue to occur sporadically, and the next important date to watch is May 23.
Polygon Labs to launch blockchain interoperability-focused ‘AggLayer’ in February
Polygon Labs will release a new solution called "Aggregation Layer" (AggLayer), which aims to connect blockchains with zero-knowledge proofs. Polygon Labs said that the first version of AggLayer will be released in February. Its goal is to enable developers to connect blockchains to support unified liquidity. AggLayer will ensure unified security on connected chains, especially chains within the Polygon ecosystem. AggLayer will be a key component of Polygon 2.0, the next version of the network. Unlike typical interoperability solutions, AggLayer will aggregate ZK proofs on all connected chains.
Bixin has submitted an application for a virtual asset trading platform license to the Hong Kong Securities and Futures Commission
According to the official website of the Hong Kong Securities and Futures Commission, NewBX Limited has been added to the list of applicants for virtual asset trading platform licenses. The company has not yet disclosed its Chinese name. Its trading platform is "Bixin.com" and the application was submitted on January 24. As of now, the number of applicants for Hong Kong virtual asset trading licenses has reached 13.
AltLayer has opened airdrop token claims
According to AltLayer’s official website, applications for airdrop tokens are now open and the window will last until February 25.
Data: 24.3% of ALT airdrops have been claimed, and all but the top 2 of the top 10 airdrop addresses have been sold or deposited into CEX
According to the monitoring of on-chain data analyst @ai_9684xtpa, as of 18:30, 72.97 million ALT airdrop tokens (24.3% of the airdrop) have been received, of which the TOP10 addresses have received a total of 4,778,260 ALT, accounting for 6.5% of the total airdrop received. Among them, the top two addresses have not yet sold, and the remaining eight addresses have sold on the chain or recharged into the trading platform.
Dusk, a privacy-focused blockchain, will launch a staking function and testnet ITN on February 15
The privacy public chain Dusk tweeted that it will launch the staking function on February 1, with a reward of 2.5 million DUSK, and launch the test network ITN on February 15, providing airdrops and POA for node operators. In addition, the main network is expected to be launched in March or April.
2. Selected articles
Dragonfly’s founding partner is also concerned about the concept of “chain abstraction”.
Chain abstraction is the future of Web3, and NEAR is committed to driving its development. It can improve the usability, discoverability, and security of Web3. NEAR's vision is to make dapps accessible to billions of users and achieve widespread adoption of Web3. Through an example, you can imagine the convenience of using dapps, where users can complete transactions from different networks in one application and get rewards. NEAR will launch a new version of FastAuth to map NEAR addresses to other addresses, with the ultimate goal of providing a unified experience layer for interacting with various on-chain applications. The NEAR ecosystem has expanded to support comprehensive chain abstraction across chains and various applications, inviting builders from across Web3 to build more solutions together.
Detailed explanation of Berachain: Modular EVM framework + liquidity proof mechanism, will it become a breakthrough in the liquidity dilemma?
Berachain announced the launch of Artio public testnet, attracting more than 1 million users and more than 70 ecological DApps. Berachain originated from the Bong Bears NFT project and developed into a high-performance EVM-compatible blockchain, using a three-token model and liquidity proof consensus mechanism. Users can earn BERA, BGT and HONEY by staking BGT, and the system forms a flywheel by attracting more assets to join. Polaris EVM provides Berachain with an efficient smart contract execution platform that interoperates with the Cosmos ecosystem. Berachain is not a traditional Meme chain, and its deep participation and incentive mechanism are its advantages.
SatoshiVM and IDO platform are at loggerheads: suspected to be behind the scenes operation by a crypto KOL with 500,000 followers, 300-fold myth "flash crashes" due to uneven benefits
The Bitcoin L2 project SatoshiVM has a market value of over 100 million US dollars in 10 days. It was issued by the Bool Network team, but Bool Network denied it. Ape Terminal is the IDO platform of the project, but it has a "dispute of interest" with the SatoshiVM team. Both parties blame each other for the decline of SAVM tokens. The crypto industry lacks trust.
3. Project Interpretation
Polygon to launch AggLayer focused on blockchain interoperability: what are the benefits and use cases?
Polygon Labs will release AggLayer v1 in February, connecting blockchains with ZK proofs to enable cross-chain atomic transactions. This will improve the liquidity and user experience of the ecosystem, bringing convenience to dApp developers and users. The future AggLayer v2 will further improve the user experience. Polygon zkEVM is a sidechain and Layer2 network based on ZK-Rollups, where users can purchase NFTs without bridging funds. AggLayer v2 will support asynchronous cross-chain transactions and promote the integration of all chains under Polygon 2.0. Polygon also provides the CDK software development kit, and many Layer2 networks are developed using this toolkit.
Solana’s largest airdrop in history: In-depth analysis of Jupiter product and token valuation
This article introduces Jupiter, a DeFi aggregator on the Solana network, and the upcoming JUP token airdrop. Jupiter is a one-stop DeFi service platform with a monthly trading volume of $66.5 billion, accounting for more than 70% of the organic trading volume of all DEXs on Solana. The JUP token is a governance token designed to attract new capital flows and users and build a strong distributed community. The JUP token is considered a symbol of DeFi 2.0 and may be similar to the JTO token on Solana. The JUP airdrop is scheduled for January 31st, and 10% of the total supply will be evenly distributed to users using Jupiter. After the JUP airdrop, on-chain activity is expected to increase, and SOL may also benefit.
The programmable token brought by Smart Layer may be the next generation of new mainstream assets
Smart Tokens is a new digital asset launched by Smart Layer Network, using programmable TokenScrip technology with high composability and functionality. It will promote the development of the blockchain industry and meet real-world needs. In Web3 applications, Smart Tokens are essential to create a decentralized identity system, protect privacy and ensure that data belongs to users. Smart Layer Network is a decentralized network service that provides TokenAPIs through smart contracts and service nodes, incentivizing nodes to provide effective basic services. The team has been honing for 6 years and is about to go online in the bull market, and the future is promising.
IV. Investment and Financing
Web3 game developer Aether Games completes $300,000 in strategic financing
Avalanche ecosystem Lanuchpad platform Avalaunch announced that Web3 game developer Aether Games received $300,000 in strategic sales financing. Prior to this, Web3 game developer Aether Games completed a $5 million seed round of financing, with Mystenlabs, Polygon and others participating in the investment.
BitGo Completes New Round of Strategic Financing, with Cash Carrier Manufacturer Brink's Joining
BitGo has completed a new round of strategic financing, with armored car manufacturer Brink's participating in the investment. The financial details of this investment have not been disclosed. The cooperation with BitGo is not Brink's first foray into the digital asset field. The company began cooperating with Swiss cryptocurrency custody service provider Metaco as early as 2022.
Decentralized NFT data platform BitsCrunch completes $2.4 million in financing, led by Cypher Capital
Decentralized NFT data platform BitsCrunch announced the completion of a $2.4 million financing led by Cypher Capital. The platform also received support from Coinbase Ventures, Animoca Brands, Chainlink, Crypto.com Capital, Morningstar Ventures, and Shima Capital. According to the announcement, BitsCrunch is an AI-driven decentralized NFT data platform that enables developers to build reliable NFT applications (dApps) and also provides data analysis services for NFTs and multi-chain digital assets. The company is developing encrypted data forensics to enable retail, institutional, and venture investors to make better decisions about encrypted assets.
CryptoSafe Completes $20 Million Financing with a Valuation of $95 Million, with VentureX Capital and Others Participating
CryptoSafe, a blockchain project focused on improving capital efficiency in the cryptocurrency market, announced that it has completed $20 million in financing at a valuation of $95 million. The transaction was reportedly completed on January 1 this year and was not disclosed publicly until now. Several investment funds including VentureX Capital, NexTech Ventures and Blockchain Innovations Fund participated in the investment. The new funds will be used to enhance its technical infrastructure and capabilities, and some acquisition transactions will be carried out in the future.
Crypto Bank Sygnum Completes Over $40 Million in Financing, Led by Azimut Holding
Crypto bank Sygnum has completed over $40 million in financing at a valuation of $900 million, led by Azimut Holding. The funds raised will be used to drive the bank's expansion into new markets and further develop its regulated products. Sygnum said the amount raised has exceeded its $35 million target. Previously, Sygnum completed a $90 million Series B financing in January 2022, with Sun Hung Kai Properties, Animoca Brands and SBI Holdings participating.
