headlines
8 MarketCap data shows that Ethereum’s market value reaches US$460.1 billion, surpassing luxury goods giant LVMH (US$458.92 billion), and ranking 21st in the global mainstream asset market value rankings.
Fed Chairman: It may be appropriate to cut interest rates at some point this year
Federal Reserve Chairman Powell said that an interest rate cut may be appropriate at some point this year. The Fed remains highly concerned about inflation risks and expects that it will not be appropriate to lower policy interest rates until it has greater confidence that inflation can sustainably decline toward 2%. This will begin at some point this year. Appropriate reductions in policy restrictions may be appropriate. There are risks in cutting interest rates too early, too fast, too late or too little. Incoming data, the changing outlook and the balance of risks will be carefully evaluated. (Golden Ten)
Official data shows that BlackRock iShares Bitcoin ETF (IBIT) increased its holdings of 12,600 Bitcoins on March 5, worth over $778 million, breaking through the previous daily high of around 10,000 and setting a history for IBIT The highest single-day holdings record. The fund traded more than 107 million shares, worth more than $3.6 billion on a price-weighted basis, surpassing last weeks all-time high of $3.3 billion, Nasdaq data showed. It is reported that IBIT currently holds more than 183,000 Bitcoins, which is close to MicroStrategys 193,000 Bitcoins, and has approximately US$12 billion in assets under management, the largest among similar products. (Coindesk)
MicroStrategy plans to expand convertible senior notes offering to $700 million
MicroStrategy announced its intention to issue convertible senior notes with an aggregate principal amount of US$700 million due in 2030 and an interest rate of 0.625%. The Notes will be sold in a private placement to institutional buyers reasonably believed to be qualified under Rule 144A under the Securities Act of 1933, as amended (the Securities Act). It is reported that the issuance is expected to close on March 8, 2024, subject to the satisfaction of customary closing conditions.
In addition, MicroStrategy has granted the initial purchasers of the Notes an option to purchase up to an additional $100 million in aggregate principal amount of the Notes within 13 days from (and including) the date of the initial issuance of the Notes, which is expected to be held on March 8, 2024. Ends on the day, subject to meeting customary closing conditions.
Industry news
Web3 app store Magic Square plans to launch Ecosystem Grant Program worth $66 million
Web3 app store Magic Square is using $66 million worth of native SQR tokens to fund projects listed on its platform. According to its announcement, the Ecosystem Grant Program will include a total of 120 million SQR, equivalent to Magic Square. With 12% of the total supply of Square tokens, these grants will help fund the initial marketing costs of selected apps and games to help them increase their visibility on the platform and connect with their target audiences. (CoinDesk)
Addresses holding less than 100 BTC sold a total of 74,000 BTC in the past two months
According to monitoring by HOD L1 5 Capital, in the past 60 days, addresses holding less than 100 Bitcoins sold a total of 74,000 BTC, while addresses holding more than 100 Bitcoins bought a total of 129,000 BTC. .
Project News
According to a research report released by Binance, the decentralized derivatives trading platform Aevo has completed US$16.6 million in financing in 3 rounds of financing:
Seed round: 10% of the total amount, valued at US$18.5 million;
Series A: 4.62% of the total, valued at US$130 million;
A+ round: 3.5% of the total amount, valued at US$250 million.
On March 13, 2024, the maximum supply of AEVO will be 1,000,000,000 tokens and the circulating supply will be 110,000,000 tokens.
The token issuance schedule is as follows:
The RBN tokens of private investors (seed and series A) and teams will be fully unlocked by May 2024;
RBN holders can convert RBN to AEVO at an exchange rate of 1:1, with a lock-in period of 2 months;
AEVO is currently not unlocked for release, but the DAO will allocate 16% to future users and ecosystem incentives, which are expected to take more than 4 years.
Spanish data protection regulator bans Worldcoin from collecting and using user information
Spanish data protection regulator AEPD has asked Worldcoin to immediately stop collecting personal information in the country and stop using the data it has already collected, giving Worldcoin 72 hours to demonstrate compliance with the order. (FT)
QnA3.AIThe X platform announced that it will launch the second round of airdrops at 12:00 on April 2, and will issue 5 million GPT tokens. For users who missed or have not claimed the first round of airdrop rewards, please claim your points before March 15th, and the team will take a snapshot on March 15th.
Mirana Ventures plans to invest $8 million in secondary market to support Toncoin
According to official news, Web3 investment institution Mirana Ventures announced a new long-term partnership with TON, which includes the purchase of Toncoin on the secondary market for $8 million. Mirana managing partner David Toh said that since the integration of TON and Telegram has unique advantages and helps accelerate the large-scale adoption of token governance technology, this cooperation will provide financial support for TON and provide support for building Telegram’s Web3 SuperApp. Help in the long term and promote cooperation with other blockchains such as Mantle Network.
Investment and Financing
Crypto risk analysis firm Agio Ratings has raised approximately $4.6 million in funding
Crypto risk analysis and rating company Agio Ratings announced the completion of two rounds of financing totaling approximately US$4.6 million, namely a US$3.2 million seed round in October 2023 and a US$1.35 million Pre-Seed round in May 2022. Its seed round of financing was led by Superscrypt, with participation from Portage, MSAD Ventures and others.
Agio Ratings hopes to become the Moodys in the crypto industry, mainly helping market makers, brokers and lenders in the digital asset ecosystem assess cryptocurrency counterparty risks. It has currently rated 32 cryptocurrency companies and plans to Its service scope has expanded to more than 70 companies. (Axios)
Crypto transaction fee hedging protocol Hedgehog announced the completion of a $1.5 million Pre-Seed round of financing, with participation from Marshland Capital, Tenzor Capital, Prometeus Ventures, 3 Commas Capital and Nothing Research. Hedgehog aims to solve the problem of large fluctuations in crypto transaction fees and provide users with tools to deal with price fluctuations in cryptocurrency transaction fees. (TheBlock)
Character*Voice
1 0x Research: No major macro events are expected to affect Bitcoin market liquidity
1 0x Reaearch issued an article stating that it is expected that the Bitcoin bull market will continue and no major macro events will occur that affect market liquidity (such as interest rate hikes or stock market adjustments). The short-term decline on March 5 may cause the price to decline in the next 1-2 weeks. Moving sideways, an unknown wallet address created in 2010 sold a large amount of Bitcoin near all-time highs last night, but that may not be the only secret seller, with some blaming FTX for the January price drop as creditors sold 10 Billion dollar grayscale GBTC.
In mid-February, a bankruptcy judge approved Genesis’ request to sell nearly $2 billion in GBTC (and other crypto assets). As the selling of GBTC has increased significantly over the past five trading days, related flows may have started to hit the market. If this is indeed the case, it could take a few days for the market to face a deeper correction.
ETF Progress
U.S. SEC delays decision on Fidelity’s Ethereum spot ETF application and launches comment period
The U.S. SEC postponed its decision on Fidelity’s Ethereum spot ETF application and launched a comment period on its application.
Bloomberg analyst James Seyffart said delays are expected to continue in the coming weeks, with May 23 being a date worth watching. By then, the SEC should have made a final decision on these filings. But there are other signs that may indicate how the SEC will view these filings in the next month or so. (CoinDesk)
Previously, on March 5, public documents showed that the U.S. SEC postponed its decision on the BlackRock Spot Ethereum ETF.
Bitwise: BITB holds more than 26,715 Bitcoins, with a market value of approximately US$1.668 billion
According to the latest official data, the holdings of Bitwises spot Bitcoin ETF BITB have reached 26,715.68 Bitcoins, with a market value of US$1,668,307,659.31. In addition, the number of BITB shares in circulation has reached 49 million, with each holding holding 0.000545 BTC.
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