Planet Daily | Mainland investors are not yet allowed to participate in the trading of Hong Kong virtual asset spot ETFs
Headlines
The first batch of six virtual asset spot ETFs issued by Bosera International, China Asset Management (Hong Kong) and Harvest Global have been officially approved by the Hong Kong Securities Regulatory Commission, with the goal of listing on April 30, 2024. Although the relevant ETFs were first issued by Hong Kong companies under Chinese public funds, it should be pointed out that mainland Chinese investors are currently not allowed to participate in buying and selling.
According to the product list on the Hong Kong Securities and Futures Commission website, these six virtual asset spot ETFs were officially approved on April 23, 2024. The relevant products are: Harvest Bitcoin Spot ETF (03439.HK), Harvest Ethereum Spot ETF (03179.HK), Huaxia Bitcoin ETF (03042.HK), Huaxia Ethereum ETF (03046.HK), Bosera HashKey Bitcoin ETF (03008.HK) and Bosera HashKey Ethereum ETF (03009.HK). (Caixin)
Runes account for 68% of Bitcoin transactions since launch
Runes, a new Bitcoin token standard, have accounted for more than two-thirds of Bitcoin transactions since its launch following the April 20 halving event.
Dune data shows that the Bitcoin network has processed more than 2.38 million Runes transactions, accounting for 68% of the total number of Bitcoin transactions since its launch on April 20. The total number of transactions includes regular Bitcoin peer-to-peer transactions, BRC-20, Ordinals and Runes transactions.
Runes transactions peaked on April 23 with more than 750,000 transactions, but fell to 312,000 the next day.
On the day of Bitcoin halving, Runes transactions contributed nearly 70% of mining fees; since then, the daily share has fluctuated between 33% and 69%. (Cointelegraph)
ViaBTC previously commissioned the CoinEx platform to conduct an auction of rare epic sats from the fourth Bitcoin halving block, which was eventually sold at a price of 33.3 BTC, worth about $2.13 million. The auction started on April 22, with a total of 34 bidders. (Cointelegraph)
Earlier news, on April 20, Bitcoin mining pool ViaBTC successfully mined the 840,000th block, which is also the halving block. Subsequently, an auction of rare Satoshis epic sats was launched, with bids in the form of Bitcoin, starting at 1 BTC, and the auction will end at 0:00 on April 26, Beijing time. The first Satoshi mined in the first block of each halving period is called an epic sat because it has potential collectible value through the Ordinals protocol.
Industry News
Google Cloud launches Web3 portal for developers to experiment on testnet
Google Cloud has announced the launch of the Web3 Portal on the X Platform. This page allows developers to experiment on the testnet, discover blockchain datasets and development tools from Google Cloud and its partners, and learn about the Web3 Startup Program.
Maxine Waters, the top Democrat on the U.S. House Financial Services Committee, predicted on Wednesday that she and Chairman Patrick McHenry would soon reach an agreement on stablecoin regulation legislation.
“We’re working toward a stablecoin bill in the short term,” Waters said in an interview. She added that she had discussed stablecoins with Senate Majority Leader Chuck Schumer and Senate Banking Chairman Sherrod Brown, and said the Federal Reserve, Treasury Department and White House were all involved in drafting the bill.
“This is about making sure that investors and people are protected,” Waters said. “We have to make sure they have the assets that back stablecoins.” Federal regulation could lend legitimacy to the asset class, which could lead to wider adoption. (Bloomberg)
Report: Crypto VC deals hit a 12-month high in March, with total investment exceeding $1 billion
The crypto VC market continued its recovery in March and April 2024. March saw a 12-month record with 161 separate deals completed, totaling more than $1 billion in investments, up 52% from the previous month.
In addition, although April has not yet ended, 90 transactions have been completed so far, attracting more than US$820 million in investment and financing. (Cointelegraph)
According to a report by Coingecko, the lending market with NFT as collateral had a record high transaction volume of US$2.13 billion in Q1, an increase of 44% compared to Q4 2023. Among them, the total amount of NFT loans in January reached a record high of US$900 million, exceeding the single-month high of US$850 million set in June 2023.
Blend is the largest NFT lending platform, with a market share of 92.9% and a total loan amount of US$562.33 million in March 2024. Blend was launched by NFT marketplace Blur in May 2023 and immediately captured 82.7% of the market share in the same month. Since then, Blends monthly market share has remained at the forefront, ranging between 88.8% and 96.5%. In Q1 2024, Blends NFT loan amount increased by 49.2% month-on-month to a new high of US$2.02 billion.
Next is the NFT lending platform Arcade (ARCD), with a market share of 2.8% and NFT lending of $16.94 million in March; NFTfi (NFTFI), ranked third, has a market share of 2.2% and NFT lending of $13.32 million in March. Since last year, Arcade and NFTfi are the only NFT lending platforms other than Blend that have had a market share of more than 1% in both months.
According to CMEs Fed Watch, the probability of the Fed keeping interest rates unchanged in May is 99.7% (98.4% before the data was released), and the probability of raising interest rates by 25 basis points is 0.3%. The probability of the Fed keeping interest rates unchanged by June is 86% (79.9% before the data was released), the probability of a cumulative 25 basis point rate cut is 13.8%, and the probability of a cumulative 25 basis point rate hike is 0.2%.
SEC issues Wells Notice to Consensys, alleging MetaMask operates as an unlicensed broker-dealer
The Block Pro Headlines published an article on the X platform stating that the SEC issued a Wells Notice to Consensys, accusing MetaMask of operating as an unlicensed broker.
New regulations that will help law enforcement agencies seize cryptocurrencies used to commit crimes will come into effect on Friday, the UK Home Office said in a press release. Thanks to these new rules, the countrys police will no longer need to make an arrest before seizing crypto assets. The new regulations come after the UK Parliament passed a crime bill last year that laid the foundation for faster seizure of cryptocurrencies.
“It is vital that investigators and prosecutors have the capability and flexibility to keep pace with the changing nature of this crime,” Chief Crown Prosecutor Adrian Foster said in the release. “These new measures will greatly assist our ability to restrict, freeze or eliminate the crypto assets of illicit enterprises.”
Officials will also be able to transfer cryptocurrencies to wallets controlled by law enforcement agencies. They will also be able to destroy them if putting them back into circulation is not conducive to the public interest. In addition, the press release states that confiscated privacy coins may be destroyed. (CoinDesk)
Project News
Data shows that Upbits trading volume accounts for more than 80% of South Koreas total cryptocurrency trading volume. Based on trading volume, Upbit is currently among the top five cryptocurrency exchanges in the world, on par with Coinbase.
Nam Hyeon Joon, a spokesperson for Bithumb, South Korea’s second-largest exchange, said that under the new regulatory system, cryptocurrency exchanges will have to increase reserves, purchase investor protection insurance and strengthen monitoring of suspicious transactions, which requires “funds and manpower.”
Simon Seojoon Kim, CEO of Hashed, a Korean venture capital firm, said that the reserve system required by Korean regulators is costly for existing and new entrants, but it will be easier for resource-rich trading platforms like Upbit to meet the new standards. It is worth mentioning that in order to avoid conflicts of interest under the Korean regulatory system, Hashed does not invest in Korean exchanges.
On Tuesday, Crypto.com postponed its plans to enter South Korea, saying it needed more communication with regulators. The platform was originally scheduled to launch in South Korea six days ago. (Bloomberg)
Messari released the Sui 2023 Q4 and 2024 Q1 status report, the key points are as follows:
– In the past two quarters, Sui’s average daily DEX trading volume increased by 3689% to $78 million. Cetus and DeepBook led with $37 million and $26 million in average daily trading volumes, respectively;
-Projects built primarily on Sui raised $11.3 million in Q1 24, 31% more than the total raised in all of 2023. Projects that received funding in Q1 include Talofa Games, Scallop, NAVI, Cetus, and Karrier One;
– At the end of March, Mysten Labs launched Pilotfish, a new execution scaling solution that distributes execution work across multiple machines for a single validator;
-Sui DeFi TVL grew 1459% over the past two quarters to $786.6 million. Incentive programs drove growth, with several major protocols including NAVI, Scallop, and DeepBook launching or announcing tokens in Q1 24;
– During Quest 3, Sui averaged 151,000 daily active addresses, with a peak of 453,000. Excluding this period, Sui averaged 24,000 daily active addresses over the past two quarters.
Modular blockchain Sophon has released a draft of the SOPH token economic model
Sophon, a modular blockchain based on zkSync, has released a draft economic model for the SOPH token. The specific allocation and unlocking information is as follows:
1. Node allocation 20% (released in 36 months, and will be locked for an additional 3 months after receiving);
2. Sophon Foundation allocates 25% (locked for 12 months, then released over 36 months);
3. 20% allocated to seed contributors (locked for 12 months, then released over 24 months);
4. 5% allocated to consultants (locked for 12 months, then released over 36 months);
5. 30% of the ecosystem reserve is allocated for donations and other ecological incentives.
Sophon added that SOPHs final token economic model, distribution and lock-up status may change before the mainnet launch, which is expected to be in the third quarter of 2024. According to previous news, Sophon completed a $10 million financing in March this year, with Paper Ventures, Maven 11, The Spartan Group, SevenX Ventures, OKX Ventures, HTX Ventures and other investors. In the middle of this month, zkSync DeFi head @0x sebastiena announced that he would leave at the end of April to focus on building Sophon.
Worldcoin plans to collaborate with PayPal and OpenAI
According to Fortune magazine, Worldcoin plans to cooperate with PayPal and OpenAI. According to Alex Blania, CEO of Tools for Humanity, the company behind Worldcoin, there have been conversations with PayPal, but no concrete progress has been made. In addition, PayPal and OpenAI responded to the request for comment and said: There is no further information to share at this time.
Immutable Launches $50 Million Crypto Gaming Incentive Program, The Main Quest
Web3 gaming platform Immutable announced the launch of a $50 million gaming rewards program, The Main Quest. The company also said that the Immutable ecosystem has more than 270 games currently in development, including high-profile gaming projects such as Illuvium and MetalCore. (TheBlock)
The team behind Solanas on-chain Meme coins Cat in a Dogs World (MEW) and Maneki (MANEKI) has airdropped 37,600 MEW and 5,199 MANEKI to the wallets of users who pre-ordered Solana Mobiles second smartphone, Chapter 2. On Thursday morning, the total value of these tokens reached $459, exceeding the $450 cost of the phone; as of press time, these tokens are worth $359. (Decrypt)
Earlier news said that the pre-sale volume of Solana Mobiles second smartphone Chapter 2 has exceeded 100,000 units. Based on the pre-sale payment of US$450 paid by each customer, Solana Mobile has currently accumulated US$45 million in development funds. It is reported that the initial retail price of this phone is expected to be US$1,000 and may be shipped in early 2025.
Investment and Financing
CARV Completes $10 Million Series A Funding, Led by Tribe Capital and IOSG Ventures
CARV announced the completion of a $10 million Series A financing round, led by Tribe Capital and IOSG Ventures, with participation from Consensys, OKX Ventures, Fenbushi Capital, No Limit Holdings, Draper Dragon, Arweave, LiquidX, etc. It is reported that CARV aims to build a modular data layer for games and artificial intelligence. (Businesswire)
Movement Labs Completes $38 Million Series A Funding, Led by Polychain Capital
Movement Labs, which focuses on building Ethereum L2 blockchain, announced the completion of a $38 million Series A financing round, led by Polychain Capital, with participation from Hack VC, Dao 5 and Robot Ventures. Movement co-founders Rushi Manche and Cooper Scanlon said they hope to build the first second-layer blockchain using Move on Ethereum. The company also plans to launch its own token, tentatively named MOVE. (fortune)
DePIN project Natix completes $4.6 million in financing, led by Borderless Capital and others
DePIN project Natix announced the completion of a $4.6 million financing led by Borderless Capital and Tioga Capital, with participation from Laser Digital, Big Brain Holdings, Escape Velocity, IoTeX, WAGMI Ventures and Moonrock Capital under Nomura Securities, as well as a group of angel investors. Natix is a DePIN project focusing on map data, and it is reported that it will soon release tokens and airdrops on Solana. (TheBlock)
Character*Voice
Ahmad Shadid, CEO and founder of io.net, posted on the X platform that the io.net metadata API suffered a security vulnerability. Attackers exploited the accessible mapping of user IDs to device IDs, resulting in unauthorized metadata updates. This vulnerability did not affect GPU access, but it did affect the metadata displayed to users by the front end. io.net does not collect any PII and will not leak sensitive user or device data.
The io.net system design allows for self-healing, continuously updating each device and helping to recover any erroneously changed metadata.
In light of this incident, io.net has accelerated the deployment of OKTAs user-level authentication integration, which will be completed within the next 6 hours. In addition, io.net has launched Auth 0 Token for user verification to prevent unauthorized metadata changes. Users will be temporarily unable to log in during the database recovery. All uptime records are unaffected, and this will not affect the vendors computing rewards.
This article is sourced from the internet: Planet Daily | Mainland investors are not yet allowed to participate in the trading of Hong Kong virtual asset spot ETFs; Runes has accounted for 68% of Bitcoin transactions since its launch (April 26)
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