LIVE
Binance News
--
Weekly Market Highlights - Airdrop season continues
3 May 2024
Macro/TradFi
The U.S. Federal Reserve (“Fed”) kept interest rates unchanged, as widely expected by the market. Rate cuts are set to “take longer than previously expected”, with traders pricing in just one cut for 2024.
Hong Kong’s six new spot Bitcoin and Ether ETFs started trading this week, recording US$292M of inflows on day one of trading. Ether saw 15% of inflows, to Bitcoin’s 85%.
U.S. spot Bitcoin ETFs continued to record outflows, with US$811M of outflows in the first four days of the week.
Jack Dorsey’s Block is set to invest 10% of its Bitcoin-product profits into buying Bitcoin each month via a dollar-cost averaging strategy.
Crypto
L1/L2:
Pantera Capital has announced an investment in the TON blockchain
Solana Labs has partnered with Google Cloud, and their web3 gaming API (GameShift) is now available to Google Cloud customers.
Ethereum L2, Mode Network, announced its $MODE token, set to be launched on 7 May.
DeFi:
EigenLayer announced the $EIGEN token and released its detailed, technical whitepaper. The token is expected to be released alongside mainnet in September.
AltLayer has entered Phase II of its staking program and announced their Restaked ALT ($reALT) token. $reALT is an auto-compounding ERC-20 token issued to users staking $ALT.
Jito now has over 10.2M $SOL staked, making it the largest Solana liquid staking protocol.
Liquid restaking provider, Renzo, launched their $REZ token, currently trading at a US$1.6B FDV.
Kamino Finance, a top Solana DeFi protocol, released their $KMNO token via airdrop. The token is trading at a FDV of US$923M.
Other:
SocialFi platform, Friend.tech, has launched their $FRIEND token.
Gaming developer, Patriots Division, has raised US$5M for its web3 sci-fi Shadow Wars game.
Web3 publishing platform, Paragraph, has raised US$5M and announced that they are taking over Mirror.
Modular liquidity protocol, Mitosis, has raised a US$7M seed round.
Latest Binance Research Publications
Check out our latest publications:
Monthly Market Insights - May 2024
Q1 State of Crypto: Market Pulse
The Future of Bitcoin #1: The Halving & What's Next
Explore our Binance Research website for more project and macro research.
For more frequent market updates and insights, follow us on Twitter @BinanceResearch.
Have a minute? Please share with us any feedback you may have via this form.
That’s a wrap!
Binance Research
About Binance Research: Binance Research is the research arm of Binance, the world's leading cryptocurrency exchange. The team is committed to delivering objective, independent, and comprehensive analysis and aims to be the thought leader in the crypto space. Our analysts publish insightful thought pieces regularly on topics related but not limited to, the crypto ecosystem, blockchain technologies, and the latest market themes.
General Disclosure: This material is prepared by Binance Research and is not intended to be relied upon as a forecast or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities, cryptocurrencies or to adopt any investment strategy. The use of terminology and the views expressed are intended to promote understanding and the responsible development of the sector and should not be interpreted as definitive legal views or those of Binance. The opinions expressed are as of the date shown above and are the opinions of the writer, they may change as subsequent conditions vary. The information and opinions contained in this material are derived from proprietary and non-proprietary sources deemed by Binance Research to be reliable, are not necessarily all-inclusive and are not guaranteed as to accuracy. As such, no warranty of accuracy or reliability is given and no responsibility arising in any other way for errors and omissions (including responsibility to any person by reason of negligence) is accepted by Binance. This material may contain ’forward looking’ information that is not purely historical in nature. Such information may include, among other things, projections and forecasts. There is no guarantee that any forecasts made will come to pass. Reliance upon information in this material is at the sole discretion of the reader. This material is intended for information purposes only and does not constitute investment advice or an offer or solicitation to purchase or sell in any securities, cryptocurrencies or any investment strategy nor shall any securities or cryptocurrency be offered or sold to any person in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the laws of such jurisdiction. Investment involves risks.
Macro/TradFi
The U.S. Federal Reserve (“Fed”) kept interest rates unchanged, as widely expected by the market. Rate cuts are set to “take longer than previously expected”, with traders pricing in just one cut for 2024.
Hong Kong’s six new spot Bitcoin and Ether ETFs started trading this week, recording US$292M of inflows on day one of trading. Ether saw 15% of inflows, to Bitcoin’s 85%.
U.S. spot Bitcoin ETFs continued to record outflows, with US$811M of outflows in the first four days of the week.
Jack Dorsey’s Block is set to invest 10% of its Bitcoin-product profits into buying Bitcoin each month via a dollar-cost averaging strategy.
Crypto
L1/L2:
Pantera Capital has announced an investment in the TON blockchain
Solana Labs has partnered with Google Cloud, and their web3 gaming API (GameShift) is now available to Google Cloud customers.
Ethereum L2, Mode Network, announced its $MODE token, set to be launched on 7 May.
DeFi:
EigenLayer announced the $EIGEN token and released its detailed, technical whitepaper. The token is expected to be released alongside mainnet in September.
AltLayer has entered Phase II of its staking program and announced their Restaked ALT ($reALT) token. $reALT is an auto-compounding ERC-20 token issued to users staking $ALT.
Jito now has over 10.2M $SOL staked, making it the largest Solana liquid staking protocol.
Liquid restaking provider, Renzo, launched their $REZ token, currently trading at a US$1.6B FDV.
Kamino Finance, a top Solana DeFi protocol, released their $KMNO token via airdrop. The token is trading at a FDV of US$923M.
Other:
SocialFi platform, Friend.tech, has launched their $FRIEND token.
Gaming developer, Patriots Division, has raised US$5M for its web3 sci-fi Shadow Wars game.
Web3 publishing platform, Paragraph, has raised US$5M and announced that they are taking over Mirror.
Modular liquidity protocol, Mitosis, has raised a US$7M seed round.
Latest Binance Research Publications
Check out our latest publications:
Monthly Market Insights - May 2024
Q1 State of Crypto: Market Pulse
The Future of Bitcoin #1: The Halving & What's Next
Explore our Binance Research website for more project and macro research.
For more frequent market updates and insights, follow us on Twitter @BinanceResearch.
Have a minute? Please share with us any feedback you may have via this form.
That’s a wrap!
Binance Research
About Binance Research: Binance Research is the research arm of Binance, the world's leading cryptocurrency exchange. The team is committed to delivering objective, independent, and comprehensive analysis and aims to be the thought leader in the crypto space. Our analysts publish insightful thought pieces regularly on topics related but not limited to, the crypto ecosystem, blockchain technologies, and the latest market themes.
General Disclosure: This material is prepared by Binance Research and is not intended to be relied upon as a forecast or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities, cryptocurrencies or to adopt any investment strategy. The use of terminology and the views expressed are intended to promote understanding and the responsible development of the sector and should not be interpreted as definitive legal views or those of Binance. The opinions expressed are as of the date shown above and are the opinions of the writer, they may change as subsequent conditions vary. The information and opinions contained in this material are derived from proprietary and non-proprietary sources deemed by Binance Research to be reliable, are not necessarily all-inclusive and are not guaranteed as to accuracy. As such, no warranty of accuracy or reliability is given and no responsibility arising in any other way for errors and omissions (including responsibility to any person by reason of negligence) is accepted by Binance. This material may contain ’forward looking’ information that is not purely historical in nature. Such information may include, among other things, projections and forecasts. There is no guarantee that any forecasts made will come to pass. Reliance upon information in this material is at the sole discretion of the reader. This material is intended for information purposes only and does not constitute investment advice or an offer or solicitation to purchase or sell in any securities, cryptocurrencies or any investment strategy nor shall any securities or cryptocurrency be offered or sold to any person in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the laws of such jurisdiction. Investment involves risks.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
Replies 0
Explore the latest crypto news
⚡️ Be a part of the latests discussions in crypto
💬 Interact with your favorite creators
👍 Enjoy content that interests you
Email / Phone number
Relevant Creator
LIVE@HaoKa
