1. Bitcoin ETF will be added to UBS platform
2. ETH call option transactions account for 90% of total transactions
3. Standard Chartered expects the Federal Reserve to cut interest rates in June, which will push the dollar down.
4. Forbes released the list of the world's billionaires. The total wealth of the 17 people in the crypto industry reached 93 billion US dollars
5. Tether issues 1 billion USDT on the TRON network (authorized but not yet issued)
Bitcoin ETF to be added to UBS platform
According to Twitter crypto KOL AP_Abacus, sources said that the Bitcoin ETF will be added to the UBS platform and will be widely available next week. UBS manages $3.5 trillion in global wealth.
Bitcoin spot ETF trading volume reached $111 billion in March
According to data from The Block, Bitcoin spot ETF trading volume reached $111 billion in March, three times the total trading volume of $42.2 billion in February. The three Bitcoin spot ETFs issued by Grayscale, BlackRock and Fidelity continue to dominate trading volume. Grayscale's GBTC fund has seen total outflows of more than $15 billion since trading began in January. In US dollar terms, the assets under management of BlackRock and Fidelity's spot Bitcoin ETFs reached approximately $18 billion and $10 billion, respectively, last month.
Last week, spot Bitcoin ETFs bought a total of $1.6 billion in BTC
According to Arkham monitoring, spot Bitcoin ETFs purchased $1.6 billion of BTC last week, with an average daily purchase of more than $406 million. Including the GBTC sell-off, net inflows last week were $510 million. The largest buyer was Fidelity, which received a total inflow of $553.42 million last week.
Spot Bitcoin ETF IBIT's trading volume reached $1.27 billion on April 2
According to HODL15Capital monitoring, the trading volume data of spot Bitcoin ETFs on April 2 showed the following: IBIT US$1.27 billion, FBTC US$670 million; GBTC US$611 million, ARKB US$129 million, and BITB US$71 million.
ETH call options account for 90% of total trading
Adam, a macro researcher at Greeks.live, wrote on the X platform that Bitcoin continued to fall, driving the entire market to fall significantly, market panic spread, and futures premiums fell. However, in the options market, put options were rarely traded, and today's main trades were all call options. Especially for ETH, today's call option trades accounted for 90% of the total trades, a very rare extreme proportion. Moreover, the trades were scattered at the main term prices of this month, and the trades were very scattered, without large trades. Observing the trades should be the fluctuations before and after the layout of the halving.
Ethereum’s on-chain DEX transaction volume exceeded $2 billion yesterday, ranking back to first place
According to DeFiLlama data on April 2, the transaction volume of Ethereum DEX on April 1 was $2.019 billion, ranking back to the top. In addition, the transaction volume of BSC DEX yesterday was $1.59 billion, ranking second; the transaction volume of Solana DEX yesterday was $1.252 billion, ranking third; the transaction volume of Arbitrum DEX yesterday was $664.21 million, ranking fourth; the transaction volume of Base DEX yesterday was $500.39 million, ranking fifth.
Cryptocurrency market shows positive momentum in second quarter
Coinbase (COIN) said in a research report released on Friday that the cryptocurrency market has developed well in the second quarter, and most of the negative factors previously found are now a thing of the past. These positive factors may "only become more evident from the second half of April." The report said that the Bitcoin reward halving, which is expected to take place between April 16 and 20, remains the main event on the supply side. The halving, which takes place every four years, refers to a 50% reduction in miner rewards, thereby reducing the growth rate of Bitcoin supply.
Standard Chartered expects the Fed to cut interest rates in June, which will push the dollar down
Standard Chartered said that if prices or economic activity cool sufficiently, then the Fed may be more inclined to ease monetary policy in the second quarter, which would push the dollar "slightly weaker" from mid-year. "Our base case assumption is that the Fed will cut interest rates before or with other central banks, which is negative for the dollar because improved risk appetite and liquidity conditions will lead to dollar selling," analysts wrote in the report. Optimism in risk assets is not good for the dollar, but if the difference between the Fed's interest rate and other central banks' interest rates is maintained, then the dollar "may be moderately weak rather than collapsing."
Cleveland Fed: Rate cuts are likely in June
Cleveland Fed President Loretta Mester said on Tuesday that if the data supports it, the June policy meeting could be the time to start easing policy. "If the economy develops as expected, inflation continues to fall back toward 2%, and the labor market and economic growth remain solid, then I think it would be appropriate to begin lowering the federal funds rate later this year," Mester said. She also expects that there will not be enough information before the next meeting (May) to make a decision to lower interest rates. "But by the time we meet on June 11-12, the situation may have changed," she said after the speech. "We have to be data-dependent, so I don't want to rule it out." Mester, who is currently a voting member of the FOMC and will retire in June, said.
Forbes releases the world's billionaire list, with the total wealth of 17 crypto industry players reaching $93 billion
On April 2, Forbes released the 2024 list of the world's billionaires, 17 of whom are from the crypto field. The total value of the crypto assets, publicly disclosed stock portfolios, and private wealth held by these investors and entrepreneurs is estimated to be about $93 billion, more than double the total wealth of the nine crypto billionaires on the list last year ($37 billion). Binance founder and former CEO Zhao Changpeng has become the richest man in cryptocurrency for the third consecutive year. His current net worth is estimated at $33 billion, up from $10.5 billion last year, ranking 50th on the global billionaire list. In addition, Coinbase CEO Brian Armstrong ($11.2 billion) and MicroStrategy CEO Michael Saylor ($4.4 billion) were also selected.
US SEC submits revised notice for Grayscale spot Ethereum ETF (conversion)
The U.S. SEC filed a notice of amendment for Grayscale Spot Ethereum ETF (Conversion), submitting Amendment No. 1 for the proposed changes to the listing and trading rules of Grayscale Ethereum Trust Fund shares. In addition, the U.S. SEC filed a notice of amendment No. 1 for the proposed changes to the rules for listing and trading Fidelity Ethereum Fund shares pursuant to Section 14.11(e)(4) of the Exchange Rules "Commodity-based Trust Shares" for Fidelity Spot Ethereum Equivalent Fund.
USDC Treasury minted 250 million new USDC 3 hours ago
According to the on-chain data tracking service Whale Alert, USDC Treasury minted 250 million new USDC at around 6:36 Beijing time on April 3. According to Coingecko data, the current market value of USDC exceeds US$32.848 billion.
Crypto funding in March exceeded $1.16 billion, a 52% jump from February
According to data released by RootData, the amount of funds raised in the crypto field in March exceeded US$1.16 billion, the second highest amount in the past 12 months, and a 52% jump compared to February. The data shows that most of the funds were invested in crypto infrastructure and decentralized finance (DeFi) projects, especially those built on the Ethereum blockchain. Other popular blockchains include Polygon and BNB Chain. About one-third of the funds were allocated to projects located in the United States.
Tether issues 1 billion USDT on the TRON network (authorized but not yet issued)
Data monitored by Whale Alert shows that at 22:11:54 Beijing time, 1,000,000,000 USDT was minted in the Tether Treasury. Tether CEO Paolo Ardoino said that this 1 billion USDT is a supplement to the Tron network inventory. This is an authorized but unissued transaction, which means that this additional issuance will be used for the next issuance request and chain exchange inventory.
Hong Kong: RWA investment is expected to be open to retail investors
Yang Zaiyong, vice chairman of the Hong Kong Chinese Finance Association, said that the successful issuance of the first short-term commercial paper tokenized securities applicable to Hong Kong law by China-funded securities firm GF Securities (Hong Kong) marked a new milestone in the development of Hong Kong's digital finance. Hong Kong regulators are open and supportive of RWA innovation. For example, the Securities and Futures Commission has stated that RWA investment is expected to be open to retail investors. If Hong Kong wants to strive to become the source of global RWA innovation, it must further improve the top-level design, break through the innovation bottleneck, optimize the infrastructure, cultivate the market ecology, and lead the industry to a higher quality and more sustainable track.
Singapore’s central bank issues new user protection rules for digital payment token companies
According to a statement, the Monetary Authority of Singapore has amended the Payment Services Act and its subsidiary legislation to expand the scope of payment services regulated by the central bank. The statement pointed out that the MAS will impose user protection and financial stability-related requirements on digital payment token (DPT) service providers. The amendment will authorize the MAS to impose requirements related to anti-money laundering and countering terrorist financing, user protection and financial stability on digital payment token (DPT) service providers, and the regulations will take effect in stages from April 4.
Inscribe Announces Strategic Partnership with Tech Giant IBM
On April 2, Inscribe announced a strategic cooperation agreement with IBM, a world-renowned technology giant, to jointly promote the innovation and development of blockchain digital identity authentication. Inscribe will combine its own blockchain technology with IBM's digital identity solutions to create a new set of digital identity authentication standards. IBM will provide Inscribe with its leading digital identity management platform and blockchain technology support, as well as a wealth of identity authentication and identification functions. Inscribe will use these resources to build a secure and efficient digital identity authentication system to provide users with more reliable and convenient identity authentication services. As a pioneer in the field of blockchain digital identity authentication, Inscribe will work with IBM to promote the formulation and promotion of digital identity authentication standards and create a secure, open and trusted digital identity authentication ecosystem for global users. This cooperation will also promote the application and development of digital identity authentication technology and promote the healthy development of the digital economy and digital society.
