Planet Daily | There are less than 20 days left until Bitcoin halving; the probability of the Federal Reserve cutting interest rates in June is less than 50% (April 2)

headlines

There are less than 20 days left until Bitcoin halving

BTC.com data shows that the current block height is less than 20 days away from the Bitcoin halving time.
The next Bitcoin halving is expected to occur in April 2024 when block height reaches 840,000, when the block reward will drop from 6.25 BTC to 3.125 BTC.

U.S. dollar index DXY breaks above 105, swaps market pricing in less than 50% chance of Fed rate cut in June

Driven by U.S. manufacturing data, the U.S. dollar index DXY exceeded 105 for the first time since November 2023, rising 0.49% on the day. Additionally, the swaps market is pricing in a less than 50% chance of a Fed rate cut in June. (Golden Ten)

DEX trading volume reached $267.938 billion in March, a record high

DeFiLlama data shows that the total DEX transaction volume in March reached a record high of US$267.938 billion, an increase of over 126% compared to February (US$118.063 billion).

The trading volume of DEX on the BSC chain exceeded US$1.8 billion yesterday, ranking first

DeFiLlama data shows that the trading volume of DEX on the BSC chain was US$1.869 billion on March 31, ranking first.
In addition, the DEX trading volume on the Ethereum chain was US$1.553 billion, ranking second; the DEX trading volume on the Solana chain yesterday was US$946.71 million, ranking third, and the DEX trading volume on the Base chain was US$573.12 million, ranking fourth.

Industry News

Total financing in the crypto market in March was $1.161 billion, a 52% month-on-month increase

RootData data shows that the total amount of financing in the encryption market in March 2024 was US$1.161 billion, an increase of 28% from March 2023 (US$905 million) and an increase of 52% from February 2024 (US$762 million). In addition, the number of financings in March 2024 was 180, a month-on-month increase of 24%.

Coinbase has difficulty winning the case against the U.S. SEC. Experts suggest that it may be more favorable to appeal directly to the U.S. Supreme Court.

Coinbase’s path to legal action against the U.S. Securities and Exchange Commission (SEC) looks bleak, with Georgia State University banking and administrative law professor Todd Phillips saying Judge Failla’s decision last week means she agrees with the SEC’s interpretation of legal precedent that Coinbase The crypto-assets offered on appear to be securities, so Coinbase is operating as an unregistered exchange and broker, and the SEC will likely prevail.
Todd Phillips analyzed that there are two scenarios that are more beneficial to Coinbase. First, he hopes that the Republican Party will win the presidential election and force Gary Gensler to withdraw from the SEC; second, Coinbase will immediately appeal this decision, abandon the next stage of the trial, and directly Appealed to the Second Circuit and ultimately to the Supreme Court. (Fortune)

Japanese bank Hokkoku Bank launches country’s first deposit-backed stablecoin Tochika

Hokkoku Bank, a regional bank in Japan, announced the launch of Tochika, the country’s first deposit-backed stablecoin. Users who already have a Hokkoku Bank account can recharge through its APP and spend in local stores. (ledgerinsights)

Paidun: Hacking incidents in the encryption field caused losses of over US$187 million in March, a 48% decrease from February

According to Paidun monitoring, in March 2024, more than 30 hacker attacks occurred in the encryption field, causing losses of approximately US$187.29 million, a 48% decrease compared with February 2024; of which approximately US$98.8 million in losses were recovered.

Project News

gm.ai reveals an overview of the token economic model, and the mainnet will be launched as soon as this month

The AI ​​project gm.ai launched by the founder of Whales Market posted on social media that the foundation’s current planned token economic model overview is: the total amount of GM will be 1 billion; 55% will be allocated to the community (the unlocking period exceeds 8 years ); 20% is allocated to pre-sale (unlocked at TGE); 10% is allocated to the foundation (unlocked over 6 years); 15% is used to add liquidity and airdrops; a detailed token economic model will be released next week.

Slerf: Users whose pre-sale participation amount exceeds 5 SOL can choose to apply for NFT, and 5 SOL will be deducted for each application.

Slerf, the founder of the meme project SLERF, said that users who send more than 5 SOL in the token pre-sale will be able to use the funds not received in the pre-sale to claim an upcoming NFT (if the user chooses to do so), Each claim will deduct 5 SOL from the users arrears.
According to previous news, Slerf stated that it would create an NFT series to promote matters such as raising remaining funds and donations for pre-sellers.

Investment and Financing

Blockchain network XION completed US$25 million in Series A financing, with participation from Multicoin and others

XION, a blockchain network focused on consumer-centric developers, announced the completion of a $25 million Series A round of financing earlier this month, with participation from Multicoin, Animoca Brands and Arrington Capital.
XION is developed by Burnt, which claims to be a Web3 foundry company that provides smart contract development tool chains. The new funds will allow XION to accelerate the development of the ecosystem and redesign wallets, gas fees and other experiences. (Fortune)

Chainge DAO launches new proposal to receive $13 million in investment

Chainge Finance, a cross-chain liquidity protocol, launched a proposal on Snapshot and plans to receive $13 million in capital investment. According to the proposal information, Chainge Finance will receive a capital injection from a well-known investment institution, but the specific name has not yet been disclosed. This investment transaction will bring 50 million XCHNG tokens into circulation, equivalent to about 10% of the current circulating supply. The new funding will be used for global expansion and visibility, enabling the development of the technology by recruiting top talent to fuse AI with cutting-edge technology, positioning Chainge as a leader in AI crypto innovators.

Character*Voice

Arthur Hayes: If a meme can attract more attention and developers, it will be valuable to the chain itself

BitMEX co-founder Arthur Hayes said in an interview with Real Vision CEO Raoul Pal: You can think that meme tokens are stupid and worthless, but if it can bring more attention and more development to this field , then it has positive value for the chain itself...Chains that can support this culture will become valuable chains, and Solana and Ethereum are the networks that best capture the attention of memes. (Cointelegraph)

Ordinals founder: Runes protocol is built for Degen and Meme tokens

Ordinals protocol founder Casey Rodarmor posted on X that Runes was built for Degen and Memecoin, but the protocol is simple, efficient and secure, and it will become a competitor to Taproot Assets and RGB. The Runes protocol exists independently and does not depend on Ordinals or inscriptions.