headlines
Economists at Morgan Stanley said the Fed will announce plans to slow its balance sheet reduction in May and begin in June.
The banks Seth Carpenter and others wrote that the Fed is expected to discuss the issue of balance sheet reduction in details at the next three FOMC meetings, announce in May the scale and extent of the balance sheet reduction action, and start this process in June. process. Morgan Stanley had previously predicted that the Fed would begin to slow down the pace of balance sheet reduction from September last year. The bank now maintains its forecast for the balance sheet reduction to end in February 2025; it expects the use of the Feds overnight reverse repurchase facility to fall to $250 billion by May or June.
The second phase of the Rollup.Finance airdrop event is online and tokens will be issued in Q2 2024
The decentralized derivatives trading platform Rollup.Finance announced the launch of the second phase of the airdrop event and said it will issue its native token in the second quarter of 2024.
It is understood that the second phase of the Rollup.Finance airdrop mainly serves ecological incentives and will have multiple seasons. Users can obtain points by participating in liquidity staking or contract transactions, and the points can be used to redeem airdrop treasure boxes.
Rollup.Finance is a decentralized derivatives exchange first launched on zkSync. It is a solution for perpetual contract trading on the Layer 2 chain. It creates a new model of on-chain contract trading and brings real benefits to users in a sustainable way. .
The Arbitrum Foundation has launched the second phase of its funding program
Arbitrum disclosed on the technology structure and build a sustainable community within the Arbitrum ecosystem.
Industry news
The total market value of cryptocurrencies rose to $1.72 trillion, with BTC’s market share at 47.5%
CoinGecko data shows that the current total market value of cryptocurrency is US$1.72 trillion, with a 24 H increase of 0.1%. In addition, BTC’s market share is 47.5% and ETH’s market share is 17.2%.
BlackRock has decided to pause plans to launch an XRP spot ETF
BlackRock has decided to pause plans to launch an XRP spot ETF due to ongoing regulatory uncertainty and lack of clarity surrounding XRP’s legal issues. (Investing.com)
In November 2023, BlackRock had denied plans to launch an XRP trust.
The total number of Bitcoins hosted by GBTC drops to 566,970
Coinglass data shows that as of January 19, the negative premium rate of Grayscale Bitcoin Trust Fund ETF (GBTC) narrowed to 0.27%, the total number of Bitcoins in custody dropped to 566,970, and the net asset value of each ETF was approximately US$37.11. , GAAP assets under management hit $23.55 billion.
Bitwise Bitcoin Spot ETF already holds over 10,000 BTC
CC 15 Capital data shows that the Bitwise Bitcoin Spot ETF (BITB) achieved a milestone after six days of trading, with its assets under management reaching $425 million, Bitcoin holdings reaching 10,152, and six-day total inflows of 4.46 One hundred million U.S. dollars.
Dune data shows that the total amount of pledged Ethereum beacon chain reaches 29,060,061 ETH, and the pledged ETH accounts for 24.23% of the total supply of ETH. Among them, the staking share of the liquidity staking protocol Lido reaches 32.09%.
Bitcoin ETF’s total assets under management exceed $29 billion
Coinglass data shows that Bitcoin ETFs (including spot and futures ETFs) have a total trading volume of US$2.96 billion, a total market capitalization of US$27.5 billion, and total assets under management (AUM) of US$29.16 billion.
Among them, the top three Bitcoin ETFs by asset management scale are:
GBTC has $23.54 billion in assets under management;
BITO has $2.28 billion in assets under management;
IBIT has $1.17 billion in assets under management.
Bloomberg launches encrypted channel on Telegram
Bloomberg Crypto, the crypto and blockchain arm of Bloomberg, has launched a crypto channel on Telegram to provide news and analysis in the cryptocurrency space.
Project News
ZKFair published a document on the X platform announcing the launch of Launchpool. ZKFair stated that Fair Launchpool will launch new projects soon, and ZKF holders, ZKF pledgers, and .zkf domain name owners will have the opportunity to receive airdrops.
Ondo Foundation Announces First Round of Ondo Points Program
Ondo Foundation announces the first round of Ondo points plan, which will focus on retroactive points that use Flux and hold OUSG or USDY, USDY holders, mUSD holders, DeFi ecosystem participants, liquidity borrowers, governance participants, and tokens Pledger.
According to previous news, Binance will launch the ONDO 1-50 times U-based perpetual contract at 21:00 on January 20, 2024 (Eastern Eighth District time).
DeFiLlama data shows that the trading volume of DEX on the Ethereum chain on January 20 was US$755.75 million, ranking first.
Solana’s on-chain DEX’s daily trading volume is US$570.6 million, ranking second; Arbitrum’s on-chain DEX’s daily trading volume is US$404.98 million, ranking third.
dYdX Chain’s total trading volume exceeds $20 billion
Data released by dYdX Ops subDAO on the X platform shows that the cumulative transaction volume of dYdX Chain has exceeded US$20.07 billion. The trading volume of dYdX Chain reached US$4.85 billion in the past week, and a total of US$712,700 USDC was distributed in rewards that week.
Axie Infinity announces launch of onboard.axiedao.org platform
Axie Infinity posted on the X platform that the onboard.axiedao.org platform has been launched to attract new community members.
Dune data shows that the total amount of pledged Ethereum beacon chain reaches 29,060,061 ETH, and the pledged ETH accounts for 24.23% of the total supply of ETH. Among them, the staking share of the liquidity staking protocol Lido reaches 32.09%.
Uniswap front-end transaction fees have exceeded $4.5 million
DefiLlama data shows that as of January 20, Uniswap front-end transaction fees (revenue) reached $4.56 million.
According to previous news, Uniswap Labs announced that it will charge a 0.15% exchange (swap) fee for certain tokens in its web application and wallet starting from October 17, 2023. Specific tokens include ETH, USDC, WETH, USDT, and DAI. , WBTC, agEUR, GUSD, LUSD, EUROC, XSGD.
The ERC 420 platform integrating NFT and smart contracts will be launched soon
According to official news, the ERC 420 platform that integrates NFTs and smart contracts is about to be launched and is dedicated to enriching the Ethereum creative ecosystem.
ERC 420 provides artists and creators with a wealth of creative tools, supporting graphics, 3D effects, audio and video rendering, and innovative NFT fragment resonance forms, which makes the presentation of NFTs more diverse. Through the innovative NFT fragment resonance form, the interaction between the NFT market and the token market is opened up to improve the liquidity of the NFT market.
At the same time, ERC 420 supports listing on OKX market, Magicden, Opensea, Ord and other popular platforms.
According to Dune data, the number of PYTH pledgers has exceeded 57,000, with a total of 499, 850, 591 PYTH being pledged, worth approximately US$200 million.
Manta Network issued a document on the Ten thousand MANTA tokens are used to expand the Korean market; 2 million MANTA are recharged to Bithumb through the Manta Pacific chain and exchanged for ETH. The actual average transaction price is US$2.55 to ensure available funds. These funds are intended to be used to invest and grow Manta Network’s community in South Korea, especially by supporting local developers and communities to increase Manta Network’s voice in South Korea. The undistributed part of the airdrop is only reserved for users who have not yet opened the box and synthesized NFT. After 180 days of TGE, community members can vote to determine the distribution method of the airdrop that has not yet been claimed.
zkSync bridge TVL crosses $7 billion
Odaily News According to Dune data, the Ethereum second-layer solution zkSync bridge TVL has touched 2,864,555 ETH, which is approximately US$7.07 billion at current prices. In addition, the total number of zkSync bridge users has touched 2,676,629.
KiloEx, an on-chain contract trading platform, issued a document on the , the recommended points will be divided into three levels, with the highest level being 22.5%. In addition, daily check-ins will be modified to passive check-ins completed by transactions.
Previously, Binance Labs issued a statement stating that it would invest in four outstanding MVB VI projects, including the Ethereum expansion project AltLayer, the perpetual contract DEX KiloEx, the DeFi lending agreement Kinza, and the AI game Sleepless AI.
“Mutant Ape” MAYC’s OpenSea transaction volume exceeded 1 million ETH
The latest data from the NFT trading market OpenSea shows that the total transaction volume of Mutant Ape MAYC on its platform has exceeded 1 million ETH, currently touching 1,089,353 ETH. Additionally, the current floor price of MAYC is 4.73 ETH, up 19% in the past seven days.
Investment and Financing
Arbitrage platform Crypto Arbitrage Owl commits $10 million to Fetch.ai
Arbitrage platform Crypto Arbitrage Owl has announced a $10 million investment commitment to Fetch.ai and an ecosystem-building partnership. (GlobeNewswire)
Bloomberg: OpenAI CEO Sam Altman plans to raise billions for AI chip factory
OpenAI CEO Sam Altman is working to raise billions of dollars from global investors for a chip manufacturing company, people familiar with the matter said. His goal is to use the funds to build a network of factories to make semiconductors. Altman has had conversations with several large potential investors, people familiar with the matter said. Companies Altman has had conversations with include Abu Dhabi-based G 42 and SoftBank Group Corp. Some people familiar with the matter said the project would involve working with top chipmakers. Intel, TSMC and Samsung Electronics are potential partners for OpenAI. Negotiations are still in the early stages and a full list of partners has not yet been identified. (Bloomberg)
character voice
Elon Musk: “xAI has received $500 million in investment commitments” is fake news
Elon Musk responded on Earlier, Bloomberg reported that people familiar with the matter revealed that Elon Musk’s artificial intelligence company xAI has received investment commitments of US$500 million to achieve its US$1 billion financing goal. The company is discussing a valuation of $15 billion to $20 billion, but terms could still change in the coming weeks.
Haseeb, managing partner of Dragonfly, cited data from The Block and CryptoSlam, and said that “it looks like the Ethereum network has regained the throne for NFT transaction volume.”
And X user @llamaonthebrink pointed out that the Ethereum network never lost this throne because these sites count the trading volume of ORDI (and other BRC 20 tokens) as NFT trading volume, which is a pure scam.
In this regard, DefiLlama founder 0x ngmi posted on the ) This metric is greatly exaggerated. A more appropriate way would be to compare it with (the total trading volume of all ERC 20 tokens and NFTs on the Ethereum chain). This is why on DefiLlama we do not show NFTs on the Bitcoin chain Trading volume, although we have this data, I chose not to show it until we can properly differentiate between BRC 20 tokens (and NFT trading volume). In my opinion, it is better not to show the data than to show wrong data, because of wrong data It can lead to people making poor decisions.
Justin Sun’s address has withdrawn $60 million in crypto assets from Binance since December 18
According to Lookonchain monitoring, since December 18, 2023, Justin Sun’s address has withdrawn a total of US$60 million in crypto assets from Binance, including 17,433 ETH (approximately US$43 million), 68,999 AAVE (approximately US$43 million), (approximately US$6.7 million), 656.4 billion SHIB (approximately US$6.3 million), 61,249 LINK (approximately US$957,000), 27.16 billion FLOKI (approximately US$885,000), 1.7 million MANA (approximately US$885,000), 826,000 US dollars), 100, 100 BAND (approximately 168,000 US dollars).
Grayscale researcher: Synergies are emerging between artificial intelligence and cryptocurrencies
A report released by Grayscale researcher Will Ogden Moore stated that the convergence of artificial intelligence (AI) and cryptocurrency heralds the arrival of a new era of technological advancement, and this synergy is marked by the impressive performance of artificial intelligence-related crypto assets. , is extending the scope of blockchain applications beyond traditional payment systems. Grayscale’s research note highlights the potential of this intersection to address future societal challenges related to artificial intelligence, including concerns about data privacy and the concentration of power. Moore said that cryptocurrencies related to artificial intelligence have shown significant growth, outperforming traditional industries in the crypto ecosystem. (Bitcoin.com)
Galaxy researcher Christine Kim wrote that given the enthusiasm of Ethereum core developers for releasing Dencun after the Goerli fork this week, the probability of Dencun being deployed on the Ethereum mainnet by the end of March is about 60%, and the Ethereum mainnet was updated at the end of February. The probability of early upgrade is low, about 30%. Additionally, if developers discover unexpected and critical bugs in Sepolia or Holeskys Dencun upgrade, there is still a chance that Dencun will be delayed to April or later.
Crypto analyst Kevin Svenson issued a data prediction, noting that the SP 500 often plays a pioneering role in predicting Bitcoin price increases.
Analyzing historical data, Svenson noted that when the SP 500 hits new highs, Bitcoin will follow suit. Svenson said he believes Bitcoin may be approaching a similar milestone, given that the SP 500 is currently just below its peak level of 4,796 set in early 2022. He predicted: “Bitcoin may be around in less than half a year, about
Within four months, it reached an all-time high. (Benzinga)
CryptoQuant founder Ki Young Ju posted on the X platform that CBDC and stablecoins may be widely used at first, but people will eventually return to Bitcoin. Privacy is important, especially for wealthy people.
Euro Pacific Capital President: Bitcoin price expected to fall further
(Forklog) Peter Schiff, president of Euro Pacific Capital, said he expects Bitcoin prices to continue falling as demand for spot Bitcoin ETFs diminishes. Schiff said Bitcoin prices are expected to fall further once the initial demand for the ETF subsides.
