Alix Marrison wgDy
@Square-Creator-f4bfaf97171f
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In the early morning of May 24, with the 19B-4 forms of 8 spot Ethereum spot ETFs approved by the US SEC, it is only a matter of time before they are listed and traded. After the Ethereum spot ETF successfully "passed the test", the price of ETH fell after a brief rise. At the same time, the potential selling pressure of Grayscale, which owns millions of ETH, also caused market concerns.
It may be listed in June, and the scale of funds is limited due to the lack of a pledge mechanism
According to James Seyffart, an ETF analyst at Bloomberg, the S-1 approval of the Ethereum spot ETF may be completed in "a few weeks" or it may take longer. The process usually takes up to five months. According to the two-week round of comments on the S-1 amendment document (similar to the feedback provided by the SEC to applicants for spot Bitcoin ETFs), mid-June is definitely possible.
Cobo co-founder Shenyu also wrote that, referring to the Bitcoin ETF, the S-1 document approval of the Ethereum spot ETF will take at least two weeks, and the normal rhythm may take 3 months. It is expected to be passed in early June and start trading in the middle of the month.
The good news of the Ethereum spot ETF is also driving the market's bullish sentiment. According to Coinglass data, in the past 7 days, ETH spot net outflow was nearly 130 million US dollars, of which the net inflow of exchanges in the past 4 days was negative. At the same time, Greeks.live macro researcher Adam posted on the X platform today that 350,000 ETH options are about to expire, with a Put Call Ratio of 0.58, a maximum pain point of 3,200 US dollars, and a nominal value of 1.3 billion US dollars. Inspired by the progress of ETFs, ETH took over BTC's rise. The short-term option IV once reached 150%, which is much higher than the current BTC IV in the same period. Judging from the block trades and market trading structure, ETH's bullish sentiment is still strong.
It may be listed in June, and the scale of funds is limited due to the lack of a pledge mechanism
According to James Seyffart, an ETF analyst at Bloomberg, the S-1 approval of the Ethereum spot ETF may be completed in "a few weeks" or it may take longer. The process usually takes up to five months. According to the two-week round of comments on the S-1 amendment document (similar to the feedback provided by the SEC to applicants for spot Bitcoin ETFs), mid-June is definitely possible.
Cobo co-founder Shenyu also wrote that, referring to the Bitcoin ETF, the S-1 document approval of the Ethereum spot ETF will take at least two weeks, and the normal rhythm may take 3 months. It is expected to be passed in early June and start trading in the middle of the month.
The good news of the Ethereum spot ETF is also driving the market's bullish sentiment. According to Coinglass data, in the past 7 days, ETH spot net outflow was nearly 130 million US dollars, of which the net inflow of exchanges in the past 4 days was negative. At the same time, Greeks.live macro researcher Adam posted on the X platform today that 350,000 ETH options are about to expire, with a Put Call Ratio of 0.58, a maximum pain point of 3,200 US dollars, and a nominal value of 1.3 billion US dollars. Inspired by the progress of ETFs, ETH took over BTC's rise. The short-term option IV once reached 150%, which is much higher than the current BTC IV in the same period. Judging from the block trades and market trading structure, ETH's bullish sentiment is still strong.
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Odaily Planet Daily News MicroStrategy founder Michael Saylor was asked in an interview with What Bitcoin Did, "Is the Ethereum spot ETF a good or bad thing for Bitcoin?" Saylor replied: "Yes, I think it is a good thing for Bitcoin. In fact, I think it may be better for Bitcoin because I think Bitcoin will be politically stronger with the support of the entire crypto industry." Saylor believes that the approval of the Ethereum spot ETF adds "another line of defense" to Bitcoin. Saylor reiterated that this will "accelerate institutional adoption" because previously cautious investors will now recognize that cryptocurrency is a legitimate asset class. In addition, Saylor explained that investors will allocate funds between various crypto assets, but Bitcoin will still receive most of the allocated funds as the "leader" of cryptocurrencies. He claimed: "I think mainstream investors will say, oh, now there is a crypto asset class, maybe we will allocate 5% or 10% of the funds to the crypto asset class, but Bitcoin will account for 60% or 70% of it." (Cointelegraph)
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Blockchain games have always been highly anticipated by the capital market, and Web 2.5 games still seem to have no breakthroughs. Now a group of people hope to put the entire game logic on the chain to enhance the composability between games. The article "The Strongest Crypto Gaming Thesis" written by Gubsheep, the founder of Dark Forest, who is known as the originator of full-chain games, describes crypto-native games as a game that embraces the architectural model and spirit of blockchain application development to the greatest extent. Now the community generally calls it full-chain games or autonomous worlds.
Recently, many games have been launched for testing or updates. This week's CryptoSnap will follow Dr.DODO to see what updates are there in the recent full-chain games.
Redstone mainnet launch
Lattice's Plasma Mode OpStack Layer 2 Redstone developed for full-chain games was officially launched on the mainnet in early May, modifying the data availability of traditional layer 2 and significantly reducing the data usage of L1 in an attempt to overcome the high gas consumption problem of full-chain games and create a public chain designed specifically for FOCG full-chain games.
In addition to the officially produced Skystrife, other games including This Cursed Machine, Biomes and Downstream are also available on the mainnet. At the same time, Lattice also held a hackathon for developers to develop game plug-ins.
Recently, many games have been launched for testing or updates. This week's CryptoSnap will follow Dr.DODO to see what updates are there in the recent full-chain games.
Redstone mainnet launch
Lattice's Plasma Mode OpStack Layer 2 Redstone developed for full-chain games was officially launched on the mainnet in early May, modifying the data availability of traditional layer 2 and significantly reducing the data usage of L1 in an attempt to overcome the high gas consumption problem of full-chain games and create a public chain designed specifically for FOCG full-chain games.
In addition to the officially produced Skystrife, other games including This Cursed Machine, Biomes and Downstream are also available on the mainnet. At the same time, Lattice also held a hackathon for developers to develop game plug-ins.
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In the early morning of May 24, the U.S. Securities and Exchange Commission approved the 19b-4 forms of multiple Ethereum spot ETFs, including ETFs from BlackRock, Fidelity, and Grayscale. The approval of the Ethereum spot ETF can be seen as the second milestone in the crypto industry after the Bitcoin ETF, reflecting the growing impact of the crypto market on the traditional financial world. After Ethereum, which cryptocurrency will be the next to be approved for a spot ETF? There are different voices in the community.
DLnews reported that the CNBC host viewed SOL as the "next cryptocurrency ETF" and summarized the discussions of several crypto community experts on the possibility of the SOL ETF passing. UNCHAINED host Laura Shin also organized a discussion on this issue. In addition to SOL, Dogecoin, Litecoin, and XRP are also within the scope of community speculation.
BlockBeats compiled the two reports as follows:
CNBC host Brian Kelly said on the show on Wednesday: "You have to consider that Solana may be next."
Doura Labs CEO Michael Cahill said in an interview: "Technically, the Solana ETF has similar uncollateralized characteristics to the ETH tool under review and should not cause reasonable objections." "Given the activity of market makers, I think the listing rate of SOL ETFs will exceed 75% this year and exceed 95% next year."
Polymarket, a prediction market closely watched by cryptocurrency investors, reported that the Solana spot ETF has a 7% chance of being approved in 2024. The betting pool is also small, with only more than $100,000. This shows that the proposal is not attractive enough for speculators.
DLnews reported that the CNBC host viewed SOL as the "next cryptocurrency ETF" and summarized the discussions of several crypto community experts on the possibility of the SOL ETF passing. UNCHAINED host Laura Shin also organized a discussion on this issue. In addition to SOL, Dogecoin, Litecoin, and XRP are also within the scope of community speculation.
BlockBeats compiled the two reports as follows:
CNBC host Brian Kelly said on the show on Wednesday: "You have to consider that Solana may be next."
Doura Labs CEO Michael Cahill said in an interview: "Technically, the Solana ETF has similar uncollateralized characteristics to the ETH tool under review and should not cause reasonable objections." "Given the activity of market makers, I think the listing rate of SOL ETFs will exceed 75% this year and exceed 95% next year."
Polymarket, a prediction market closely watched by cryptocurrency investors, reported that the Solana spot ETF has a 7% chance of being approved in 2024. The betting pool is also small, with only more than $100,000. This shows that the proposal is not attractive enough for speculators.
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8. Bitcoin native second-layer network Bitlayer announced that it will launch a two-week Mining Gala event
Bitlayer, the Bitcoin native second-layer network, announced that it will launch a two-week Mining Gala event, which will be held from May 27 to June 10. Officials said that the event was a token airdrop event initiated by Bitlayer and seven project parties including Lorenzo, Bitsmiley, Avalon, Bitcow, Pell, Enzo and Bitparty. The total value of token rewards is 23.24 million US dollars, and most projects are expected to TGE within 1-2 months. The seven project parties also promised to distribute 100% of the airdrop rewards obtained in the Bitlayer Dapp list competition to users.
9. Telegram will launch a new currency Stars on June 12
Rozetked reported that Telegram will launch a new currency Stars on June 12 to respond to Apple App Store's requirements for internal payments. The currency will be used to pay for purchases in robots and mini-apps. Developers can withdraw Stars to TON, and several developers have received relevant notifications. Previously, the App Store issued a warning because Telegram did not use Apple's internal purchase mechanism for payment.
10. Binance Megadrop launched the second phase of the project Lista (LISTA)
Binance Megadrop launched the second phase of the project Lista (LISTA). Lista (LISTA) is a liquidity staking and decentralized stablecoin protocol. The maximum supply of the token is 1,000,000,000 LISTA, the initial circulation is 230,000,000 LISTA (23% of the maximum supply of the token), and the total Megadrop is 100,000,000 LISTA (10% of the maximum supply of the token). Binance will launch LISTA after the completion of Megadrop, and the specific listing plan will be announced separately.
Bitlayer, the Bitcoin native second-layer network, announced that it will launch a two-week Mining Gala event, which will be held from May 27 to June 10. Officials said that the event was a token airdrop event initiated by Bitlayer and seven project parties including Lorenzo, Bitsmiley, Avalon, Bitcow, Pell, Enzo and Bitparty. The total value of token rewards is 23.24 million US dollars, and most projects are expected to TGE within 1-2 months. The seven project parties also promised to distribute 100% of the airdrop rewards obtained in the Bitlayer Dapp list competition to users.
9. Telegram will launch a new currency Stars on June 12
Rozetked reported that Telegram will launch a new currency Stars on June 12 to respond to Apple App Store's requirements for internal payments. The currency will be used to pay for purchases in robots and mini-apps. Developers can withdraw Stars to TON, and several developers have received relevant notifications. Previously, the App Store issued a warning because Telegram did not use Apple's internal purchase mechanism for payment.
10. Binance Megadrop launched the second phase of the project Lista (LISTA)
Binance Megadrop launched the second phase of the project Lista (LISTA). Lista (LISTA) is a liquidity staking and decentralized stablecoin protocol. The maximum supply of the token is 1,000,000,000 LISTA, the initial circulation is 230,000,000 LISTA (23% of the maximum supply of the token), and the total Megadrop is 100,000,000 LISTA (10% of the maximum supply of the token). Binance will launch LISTA after the completion of Megadrop, and the specific listing plan will be announced separately.
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5. Starknet's main developer StarkWare announced the launch of zkEVM
Starknet's main developer StarkWare announced the launch of a zero-knowledge rollup (zkEVM) compatible with existing Ethereum infrastructure, called Kakarot. The zkEVM has entered the testing phase and will be available through the Starknet Stack, a set of software tools that enable developers to easily create custom application chains. Starknet currently has a zero-knowledge virtual machine (zkVM) that uses the Cairo programming language, while zkEVM allows developers to use the Solidity programming language commonly used in Ethereum smart contracts.
6. The Uniswap Foundation continues to advance fee conversion
Uniswap will conduct an on-chain vote on May 31, aimed at laying the foundation for autonomous fee collection and distribution. UNI token holders participating in this vote must delegate their tokens before this date. Despite receiving a previous notice from the Wells of the U.S. Securities and Exchange Commission, the Uniswap Foundation continues to advance fee conversion.
7. Swell: TGE is expected to take place in the coming weeks
Swell, a liquidity staking protocol, tweeted that it is making final arrangements for the TGE, including auditing rswETH withdrawals to ensure the redemption process is in order. Due to the uncertainty of the audit results and the high attention to security, the specific date of the TGE cannot be determined at present, but it is expected to take place in the coming weeks. In view of the postponement of the TGE, Swell increased the token distribution of Season 1 (The Voyage) from 7% to 8%.
Starknet's main developer StarkWare announced the launch of a zero-knowledge rollup (zkEVM) compatible with existing Ethereum infrastructure, called Kakarot. The zkEVM has entered the testing phase and will be available through the Starknet Stack, a set of software tools that enable developers to easily create custom application chains. Starknet currently has a zero-knowledge virtual machine (zkVM) that uses the Cairo programming language, while zkEVM allows developers to use the Solidity programming language commonly used in Ethereum smart contracts.
6. The Uniswap Foundation continues to advance fee conversion
Uniswap will conduct an on-chain vote on May 31, aimed at laying the foundation for autonomous fee collection and distribution. UNI token holders participating in this vote must delegate their tokens before this date. Despite receiving a previous notice from the Wells of the U.S. Securities and Exchange Commission, the Uniswap Foundation continues to advance fee conversion.
7. Swell: TGE is expected to take place in the coming weeks
Swell, a liquidity staking protocol, tweeted that it is making final arrangements for the TGE, including auditing rswETH withdrawals to ensure the redemption process is in order. Due to the uncertainty of the audit results and the high attention to security, the specific date of the TGE cannot be determined at present, but it is expected to take place in the coming weeks. In view of the postponement of the TGE, Swell increased the token distribution of Season 1 (The Voyage) from 7% to 8%.
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3. TheBlock: zkSync will conduct TGE this week and airdrop on June 13
Two people familiar with the matter told The Block that ZkSync plans to conduct TGE this week, and the token issuance, including airdrops, will be carried out within 30 days after the TGE. The total supply of the token is 21 billion. According to a screenshot of an internal message seen by The Block, ZkSync is currently aiming to conduct an airdrop around June 13, and the company noted that this will be before the Blast token airdrop on June 26.
Cross-chain infrastructure Polyhedra Network said that ZkSync deprived it of the token name it deserved. The Polyhedra Network (ZK) token was listed on OKX spot and OKX Jumpstart projects in March. Previously, people familiar with the matter said that ZkSync wanted to use ZK as its token name, but because Polyhedra Network (ZK) had already claimed the name, some problems arose. They pointed out that ZkSync can still be used with ZK, and emphasized that Binance has not yet listed Polyhedra's token. In addition, Bybit has announced that it will change the token name of Polyhedra Network and announce the launch of ZkSync (ZK) spot.
4. LayerZero: Sybil bounty applications will be reopened soon, but a 0.5 ETH deposit is required
LayerZero will reopen sybil bounty report submissions on Commonwealth at 8:00 UTC+8 on May 28 for 48 hours, but the new submission process will require a deposit. All bounty hunters need to pay a 0.5 ETH deposit to submit reports. For addresses with good intentions or successful reports, the deposit will be refunded after TGE; for submissions that steal others' results, fraud, lack of methodology, and spam, the deposit will not be refunded and will be destroyed.
Previously, on May 19, LayerZero launched a complaint against the preliminary list of sybils, which required the wallet to sign the information. On-chain data shows that as of May 25, there have been more than 150,000 verified signature messages, which may correspond to more than 150,000 wallet complaints marked as sybil, which accounts for about 19% of the number of addresses on the preliminary sybil list (803,093), and the number of complaint addresses may continue to grow.
Two people familiar with the matter told The Block that ZkSync plans to conduct TGE this week, and the token issuance, including airdrops, will be carried out within 30 days after the TGE. The total supply of the token is 21 billion. According to a screenshot of an internal message seen by The Block, ZkSync is currently aiming to conduct an airdrop around June 13, and the company noted that this will be before the Blast token airdrop on June 26.
Cross-chain infrastructure Polyhedra Network said that ZkSync deprived it of the token name it deserved. The Polyhedra Network (ZK) token was listed on OKX spot and OKX Jumpstart projects in March. Previously, people familiar with the matter said that ZkSync wanted to use ZK as its token name, but because Polyhedra Network (ZK) had already claimed the name, some problems arose. They pointed out that ZkSync can still be used with ZK, and emphasized that Binance has not yet listed Polyhedra's token. In addition, Bybit has announced that it will change the token name of Polyhedra Network and announce the launch of ZkSync (ZK) spot.
4. LayerZero: Sybil bounty applications will be reopened soon, but a 0.5 ETH deposit is required
LayerZero will reopen sybil bounty report submissions on Commonwealth at 8:00 UTC+8 on May 28 for 48 hours, but the new submission process will require a deposit. All bounty hunters need to pay a 0.5 ETH deposit to submit reports. For addresses with good intentions or successful reports, the deposit will be refunded after TGE; for submissions that steal others' results, fraud, lack of methodology, and spam, the deposit will not be refunded and will be destroyed.
Previously, on May 19, LayerZero launched a complaint against the preliminary list of sybils, which required the wallet to sign the information. On-chain data shows that as of May 25, there have been more than 150,000 verified signature messages, which may correspond to more than 150,000 wallet complaints marked as sybil, which accounts for about 19% of the number of addresses on the preliminary sybil list (803,093), and the number of complaint addresses may continue to grow.
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1. Ethereum Pectra upgrade is scheduled for the first quarter of 2025
ETH Daily published that Ethereum Pectra upgrade is scheduled for the first quarter of 2025, and the upgrade is expected to include EOF, PeerDAS and EIP-7702, as well as other proposals. Pectra includes Prague upgrades at the execution layer and Electra upgrades at the consensus layer. The final scope of the upgrade is still under discussion, and possible changes include postponing Verkle until the Osaka hard fork.
2. Solana plans to release a full version of the Firedancer upgrade in 2025
Kuleen Nimkar, head of DePIN at the Solana Foundation, said Solana plans to release a full version of the Firedancer upgrade in 2025 and launch a "lite version" before that. As the network activity of the decentralized infrastructure protocol continues to grow, the upgrade aims to improve Solana's overall reliability and scalability. “We’re seeing a ton of emerging deepfake projects that are doing everything,” Kuleen said of DePIN activity at DEFICON on May 23.
ETH Daily published that Ethereum Pectra upgrade is scheduled for the first quarter of 2025, and the upgrade is expected to include EOF, PeerDAS and EIP-7702, as well as other proposals. Pectra includes Prague upgrades at the execution layer and Electra upgrades at the consensus layer. The final scope of the upgrade is still under discussion, and possible changes include postponing Verkle until the Osaka hard fork.
2. Solana plans to release a full version of the Firedancer upgrade in 2025
Kuleen Nimkar, head of DePIN at the Solana Foundation, said Solana plans to release a full version of the Firedancer upgrade in 2025 and launch a "lite version" before that. As the network activity of the decentralized infrastructure protocol continues to grow, the upgrade aims to improve Solana's overall reliability and scalability. “We’re seeing a ton of emerging deepfake projects that are doing everything,” Kuleen said of DePIN activity at DEFICON on May 23.
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$BTC All the masters in the square are bearish. It is estimated that it will rise again, 70,000 points
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$BTC It feels like it is going to go up and can’t go down any further. How much will it go this time? 70,000?
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$BTC The price of bitcoin is about to take off again. It will start on time at 4 o'clock. Let's refuel until it reaches 100,000.