Daily Quotes (May 14, 2024 10:50 AM)
ChainDD's market data on May 14 shows that the combined DD index and CoinMarketCap quotes are:
BTC was at $62,424.81, up about 2.44% in 24 hours;
ETH was at $2,945.35, up about 2.43% in 24 hours;
BNB was at $588.04, up about 0.19% in 24 hours;
DOT was at $6.64, up about 2.47% in 24 hours;
DOGE was trading at $0.149, up about 9.03% in 24 hours.
Chain Circle Dynamics
Flow will upgrade to Crescendo and activate EVM function on the test network on June 20
Flow releases the Crescendo upgrade migration guide to help developers prepare for the upcoming key upgrade. The Crescendo upgrade will introduce EVM and Cadence 1.0 on Flow, bringing huge opportunities to the Flow ecosystem.
Flow points out that all developers developing smart contracts on Flow need to upgrade their smart contracts in a timely manner to adapt to this update. The guide details the key steps that developers need to take, including:
- Understand the changes: Fully understand the important changes in this update, especially the capabilities and entitlements;
-Modify code: Update contracts, transactions, and scripts according to new standards, especially new FT/NFT standards;
-Test code: Comprehensive code testing using the latest Cadence 1.0 simulator;
-Deployment (stage): Before the official launch, the new version of the smart contract is deployed and tested in a controlled simulation environment to ensure the integrity and consistency of its functions.
The guide also provides a clear timeline for the migration process. The Cadence migration deployment on the testnet is divided into four phases. The first phase will be conducted from May 22 to 23, focusing on testing transaction checking logic; the second phase will be from May 29 to 31, giving developers more time to interact with the updated environment and improve the code; the third phase will be from June 5 to 8, conducting more in-depth testing and starting to finalize the migration strategy; the fourth phase will be from June 12 to 17, aiming to simulate a complete migration.
A full upgrade of the Flow testnet is scheduled for June 19; on June 20, the Flow testnet will activate the EVM function, allowing EVM-compatible contracts and tools to be deployed and tested in the newly updated environment.
zkSync will launch zkSync Node Beta version with a simpler setup process and lower hardware requirements
zkSync Developers announced the release of zkSync Node Beta with a more streamlined setup process and lower hardware requirements. The zkSync node is a read-only replica of the master node that anyone can run. This release will significantly improve the developer experience with features that can be set up with a single line of Docker, stay in sync with the master node, and run on consumer-grade hardware.
Additionally, zkSync Developers said they are working on a pruning feature to reduce the storage space requirements of the zkSync Node Beta. In the long run, this will allow the zkSync Node to act as a sequencer and validator as part of decentralization efforts.
Cryptocurrency News
Guotai Junan International launches virtual asset spot ETF structured product
Guotai Junan International (01788.HK) announced that it is the first to launch a structured product based on virtual asset spot ETFs in the Hong Kong market.
As a distributor of virtual currency spot ETFs in Hong Kong, the company now supports investors in purchasing listed virtual asset ETF products and provides customers with a new way to invest in virtual asset ETF equity-linked notes (ELNs).
EU to investigate whether Musk's X platform complies with Digital Markets Act
The European Union said it would investigate whether Musk's social media platform "X" is subject to the Digital Markets Act, and Booking.com will be subject to the Digital Markets Act.
CoinShares: Total inflows into digital asset investment products reached $130 million last week
According to the CoinShares weekly report, digital asset investment products saw their first inflows in five weeks last week, with funds totaling $130 million. However, ETP trading volumes continued to decline, with $8 billion this week compared to an average of $17 billion in April.
The United States saw the largest inflows, totaling $135 million, while Grayscale saw its lowest weekly outflows since January, totaling $171 million. Switzerland saw inflows of $14 million. Hong Kong saw inflows of just $19 million after record inflows the previous week, suggesting that most of the money in the first week after the Bitcoin ETF's launch was seed funding.
Bitcoin inflows amounted to $144 million. Outflows from short Bitcoin ETPs totaled $5.1 million, bringing outflows over the past eight weeks to $18 million.
The total redemption volume of Hong Kong Bitcoin ETF yesterday was 519.5, showing net redemption for 3 consecutive days
According to SoSo Value data, Hong Kong Bitcoin Spot ETF redeemed 519.5 bitcoins in a single day yesterday (May 13), with a total of 3,560 bitcoins held, a daily turnover of 4.25 million US dollars, and a total net asset of 219 million US dollars. Currently, Hong Kong Bitcoin Spot ETF has shown net redemption for 3 consecutive days. In terms of asset size, Huaxia ETF holds 1,690 BTC and ranks first, while Bosera Hashkey and Harvest hold 989.93 and 881.18 BTC respectively.
In addition, the Hong Kong Ethereum Spot ETF redeemed 2,270 Ethereum yesterday (May 13), with a total of 13,350 Ethereum held, a total daily transaction volume of US$726,000, and a total net asset of approximately US$39.12 million. In terms of asset size, Bosera Hashkey ETF currently holds 6,300 ETH and ranks first, while Huaxia and Harvest hold 4,670 and 2,390 ETH respectively.
Note: Hong Kong Crypto ETF supports spot subscription and redemption mechanism. Net subscription means that the difference between the subscription amount and the redemption amount within a certain period of time is positive, that is, the purchase is more than the sale, otherwise it is net redemption.
BitDeer: Total revenue in the first quarter was US$119.5 million, a year-on-year increase of 64.6%
BitDeer announced its unaudited financial results and operating updates for the first quarter of 2024, with total revenue of US$119.5 million in the first quarter, compared to US$72.6 million in the first quarter of 2023, a year-on-year increase of 64.6%.
Net income was $0.6 million, compared to a net loss of $9.5 million in the first quarter of 2023, and adjusted income was $8.4 million, compared to $2.8 million in the first quarter of 2023. Cash and cash equivalents were $118.5 million as of March 31, 2024.
