headlines
Zhu Su releases OX.FUN details to be updated next month
Zhu Su, co-founder of Three Arrows Capital, posted on the X platform that updates to the perpetual contract trading platform OX.FUN next month include:
1. Multiple collateral (accepts Ethereum, stablecoins, and OX);
2. OX fee pledge vault: All transaction fees belong to OX holders;
3. Copy trading, including Kyle Davies and Zhu Su, co-founders of Three Arrows Capital;
4. OX token upgrade.
Ordinals developer says Runestone airdrop is coming
Ordinals developer Leonidas posted on the X platform that the Runestone airdrop is coming soon. Users can check the Ordinals address themselves at the designated website to confirm whether they will receive Runestone.
CoinGecko data shows that the total market value of cryptocurrency has exceeded US$2 trillion recently and is now at US$2.048 trillion. As of now, Bitcoins market value is approximately US$1.02 trillion, occupying a dominant position of 49.69%. At the same time, the market value of stablecoins is $140 billion, accounting for 6.82% of the total market value of cryptocurrencies.
Industry news
Bloomberg: Retail investors are starting to return to crypto
Last years fourth-quarter reports from Coinbase and Robinhood showed that retail investors are beginning to cautiously return to the cryptocurrency space, although they have not yet plunged in like they did during the last bull market three years ago. Arca trader Kyle Doane said: There are signs that retail investors are starting to return to the market, but it has not yet reached the level of the last bull market. Even stocks like COIN and crypto mining companies show more volatility than many tokens. Retail traders are crucial to cryptocurrencies. They accounted for the lions share of Coinbases revenue during the last bull run and were the primary revenue driver for most other cryptocurrency exchanges.
Google Trends shows that web searches for the term Bitcoin surged in the first half of January when the ETF debuted, but then plummeted to bear market levels, suggesting retail investors were not yet fully committed. Downloads of top cryptocurrency trading apps heavily used by retail traders are also well below bull market levels. Binance’s app downloads reached 10 million in the fourth quarter of last year, up from 9 million in the third quarter and up from 8.1 million in the last three months of 2022, according to market intelligence firm Sensor Tower; In the second quarter of 2021, Binance downloads reached 25.8 million times. In addition, Coinbase app downloads increased 13% sequentially in the fourth quarter of last year, but were still down year-over-year: its 1.7 million app downloads in the fourth quarter were only a fraction of the company’s peak of 10.8 million downloads in the second quarter of 2021. Small portion.
Project News
Regarding the fact that Coinbase Commerce does not currently support BTC payments on the chain or through the Lightning Network, Coinbase CEO Brian Armstrong responded as follows on the X platform:
“Commerce uses the new EVM payment protocol; users can pay from any self-hosted wallet; we believe that payments using cryptocurrency in the future will mainly occur on L2 and want to help achieve this goal.
Currently the fastest checkout method on Commerce is using any ERC-20 on L2 (Base, Polygon, etc.), including Ethereum, USDC, wrapped Bitcoin, and hundreds of ERC-20 tokens. As a fallback, customers can make payments using a Coinbase account (if they have one), including paying directly in Bitcoin (Coinbase to Coinbase transactions happen off-chain, so we can make this process instant and free).
We are integrating the Lightning Network into Coinbase and hope to have the opportunity to use the Lightning Network for commercial payments in the future. Online payments using cryptocurrencies wont truly become mainstream until we move away from Layer 1 and reduce transaction fees and confirmation times, so were working hard to accelerate to get there. I think that regardless of the chain (except maybe Solana), the market for people paying for daily necessities at Layer 1 will be very small.
Worldcoin: The number of daily World App users exceeded 1 million this week
Worldcoin posted on the X platform that this week, the number of daily users of World App, the first wallet created for the Worldcoin project, exceeded 1 million.
Pixels will airdrop 20 million PIXEL to RON stakers, distributed in two phases
Pixels announced on the .
The snapshot date is 10:00 on February 8. Users are divided into 4 levels according to the amount of RON pledged. The reward amount for each level is as follows:
-1 RON： 183.34 PIXEL
-55 RON： 675.75 PIXEL
-684.64 RON： 2, 315.77 PIXEL
-8317.4 RON： 3, 955.11 PIXEL
The above amount represents the total amount that can be claimed at each level. Users can claim half of it today. To claim Part II, users must maintain eligibility at their assigned level. The validity period of two claims is 3 months from the date of first eligibility for payment.
PIXEL rewards will be sent to the users in-game email. Please note that it may take up to 1 hour from now until the tokens appear in the users mailbox.
Coinbase: Genesis’ approval to sell its GBTC shares won’t disrupt crypto markets
Coinbase believes that Genesis’ approval to sell its GBTC shares will not disrupt the crypto market. Coinbase said in its weekly report that while it is unclear where the additional GBTC outflows will go (whether to other spot Bitcoin ETFs or directly into Bitcoin to repay creditors), the company believes that these funds may stay in the cryptocurrency ecosystem. system, thus having a neutral overall impact on the market.
ETF related
Bloomberg ETF analyst Eric Balchunas disclosed data on the X platform that net inflows into 10 spot Bitcoin ETFs last week reached US$2.3 billion, more than any other ETF.
Among them, BlackRocks IBIT has seen capital inflows of US$5.2 billion so far in 2024, while the total capital inflows of BlackRocks 417 ETFs are approximately US$10.4 billion, which means that IBITs capital inflows account for approximately 50%.
9 spot Bitcoin ETFs bought 273,500 BTC worth $14 billion in 26 trading days
HOD L1 5 Capital data shows that 9 new spot Bitcoin ETFs purchased 273,500 BTC in 26 trading days, worth $14 billion.
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