Planet Daily | Bitcoin ETF market value exceeds $62 billion; DEX daily trading volume on Base hits a record high (April 1)
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Bitcoin ETF’s total market value exceeds $62 billion
Coinglass data shows that the total market value of Bitcoin ETFs (including spot and futures ETFs) is US$62.092 billion, and the total assets under management (AUM) are US$58.341 billion. Among them, the top three Bitcoin ETFs by asset management scale are:
GBTC’s asset management scale reaches US$23.748 billion;
IBITs asset management scale reaches US$17.243 billion;
FBTCs assets under management reach US$9.9 billion.
The daily trading volume of DEX on Base exceeds US$1.2 billion, reaching a record high
On March 30, DEX trading volume on Base reached US$1.21 billion, a record high, an increase of 25% compared to the previous day (US$995.63 million). Most of the trading activity occurred on Uniswap, accounting for 64.3% of trading volume, followed by Aerodrome Finance with 9.7% and SharkSwap with 7.8%.
Industry News
According to CryptoQuant’s latest weekly report, as demand for Bitcoin surges and seller liquidity declines, its liquid stock has plummeted to an all-time low (in terms of monthly demand). Analysts estimate that current liquidity inventories of Bitcoin sellers are only enough to meet 6-12 months of demand growing at current rates.
According to the report, the monthly demand for Bitcoin has increased from 40,000 in early 2024 to 213,000 currently. CryptoQuant measures demand through a 30-day cumulative increase in the total balance of addresses (addresses that only receive and hold Bitcoin). These addresses hold more than 10 Bitcoins, have no outflows, do not belong to any CEX or mining pool, and have been active for the past seven years.
Tornado Cash co-founder Roman Storm seeks judge to dismiss money laundering charges
Tornado Cash co-founder Roman Storm has filed a motion seeking to dismiss all three charges against him, including charges that he ran a money laundering business and violated the International Emergency Economic Powers Act.
Lawyers for Roman Storm say Tornado Cash was developed and publicly available before it was used by hacking groups sanctioned by the U.S. Treasury Department. As a result, there is little Storm can do to prevent sanctioned entities from using Tornado Cash when alleged misconduct occurs. (Cointelegraph)
Coinbase Research: Bitcoin expected to rise in Q2
David Duong, chief analyst at Coinbase Research, said that the critical 90-day review period for regulators to conduct due diligence on new financial products will trigger a new wave of demand for spot ETF exposure after April 10, which means that Bitcoin may be in The second quarter saw gains. (Bitcoin News)
Project News
Manta Network posted on the X platform that wUSDM > USDC withdrawals are being processed and the funds are safe.
It stated that wUSDM withdrawals are bridged to the ETH mainnet through this native bridge. As an optimistic rollup, Manta Pacific has a 3-day challenge period during which the withdrawn funds are locked to detect any fraudulent activity. optimistic rollup inherent safety measures.
After 3 days, Mountain Protocol will receive the funds and process the request. Officials expect that the first batch of wUSDM > USDC conversions will arrive at the L1 withdrawal address before the end of April 1, 2024.
Runestone’s total trading volume exceeded 1,200 BTC
Magic Eden data shows that the total turnover of Runestone exceeded 1,200 BTC and is currently 1,207.5 BTC; the floor price is now quoted at 0.04779 BTC, and the number of addresses held is 79,300.
Investment and Financing
Arrow Markets, an AMM option protocol based on Avalanche, completed a $4 million Series A round of financing, with participation from Framework Ventures, Delphi Ventures and Avalanche Blizzard Ecological Fund.
It is reported that the core of Arrow Markets is to use the Request-for-Execution (RFE) mechanism to provide quotes for option contracts in the Avalanche C chain. (Bitcoin.com)
Farcaster closes in on funding round led by Paradigm, valuing it at $1 billion
Farcaster developer Merkle Manufactory is closing in on a funding round led by Paradigm that values it at approximately $1 billion. Dan Romero, former vice president of Coinbase and co-founder of Merkle, confirmed on March 29 that the startup was raising funds, but did not mention the amount.
As previously reported, Merkle completed US$30 million in financing led by a16z Crypto in July 2022.
Web3 base layer Mystiko.Network: seed round valuation valued at $400 million
Mystiko.Network, the basic layer of Web3, issued an announcement on the X platform. The latest seed round financing was valued at US$400 million.
According to previous news, Mystiko.Network announced the completion of a US$18 million seed round of financing, led by Sequoia Capital India/SEA (now known as Peak XV Partners), Samsung Next, HashKey, Mirana, Signum, Coinlist, Naval Ravikant, Sandeep Nailwal, Gokul Rajaram , Tribe Capital, Morningstar Ventures and others participated in the investment.
Character*Voice
CZ updates Giggle Academy on the X platform Related information: There is now a fully remote team of 10 people (including part-time and full-time). Recruitment for the project is still in progress, and the initial plan is to form a team of 15 people.
Regarding the progress of the project, the content of the first phonics (English) course has been determined and is being worked on. For the sake of the target market, an Android version of the application will be made first rather than a web version.
Previously, CZ posted on the X platform that it would launch an education project called Giggle Academy, aiming to provide free basic education to everyone.
Casey, founder of the Bitcoin NFT protocol Ordinals, posted on the X platform that a good feature of Runes is that the mint terminology is very flexible and expressive. In addition to the maximum mint number, users can also specify a start and end time, both of which are absolute block heights, and a relative block count after the etch has been mined.
Previous news, Casey released Runes document. According to the document, Rune allows Bitcoin transactions to etch, mint, and transfer Bitcoin-native digital goods. While each inscription is unique, each unit of the rune is identical; they are interchangeable tokens suitable for multiple uses.
