Rhythm Evening News｜SUI and BASE Network TVL both hit record highs; founder of Ordinals releases Runes introduction document

Selected news:

1. BlackRock Alliance: Even if ETH is classified as a security by the SEC, there is a possibility of spot ETF being approved;

2. The founder of Ordinals released an introduction document for Runes;

3. Analysis: It is expected that after the US stock market opens tonight, the ETF custody address will have a net inflow of approximately 3,547 BTC;

4. SUI , BASE network TVL both hit record highs;

5. Less than 7 days have passed since the BCH halving is expected, and BCH’s 24-hour increase reached 11.1%

Price Watch

GMT exceeded US$0.4, rising by more than 12% in 24 hours

According to market data, GMT exceeded US$0.4, and is now quoted at US$0.403, rising by more than 12% in 24 hours.

From BCH The halving is expected to be less than 7 days away, and BCH has increased by 11.1% in 24 hours

According to BTC.com, the current block height is less than 7 days away from the BCH halving time, with 993 blocks remaining. block. After the halving, the block reward will change from 6.25 BCH to 3.125 BCH. According to OKX market data, BCH is currently quoted at $544.2, with a 24-hour increase of 11.1%.

Bitcoin Back above $70,000

According to OKX market data, Bitcoin has rebounded back above $70,000 and is now quoted at $70,025, down 0.49% in 24 hours.

Aevo Ethena Labs (ENA) futures contracts are currently quoted at $0.574

According to options trading platform Aevo, the Ethena Labs (ENA) futures contract is currently quoted at $0.574, with a 24-hour trading volume of $156,000.

REI Network (REI) rose more than 160% in 24 hours and is now quoted at $0.256

According to CoinGecko data, REI Network (REI) rose by more than 160% in 24 hours and is now quoted at $0.256. It is worth noting that REI’s 24-hour total network trading volume reached US$362 million, of which the trading volume on the Binance platform reached US$163 million, and the two Korean trading platforms Bithumb and Upbit recorded US$104 million and US$44.99 million in trading volume respectively. It is reported that REI Network is a public chain that is compatible with Ethereum EVM, more friendly to supporting enterprises and developers, lightweight and free.

NAVX up Breaking through 0.3 US dollars, a 24-hour increase of 71.3%

According to Bitget data, the Sui ecological lending and liquidity pledge agreement NAVI Protocol token NAVX rose above 0.3 US dollars, and is now quoted at 0.3433 US dollars, 24 hours The increase reached 71.3%.

Transaction Tracking

GSR Markets and Wintermute have transferred a total of 48.2 million ARB to CEX in the past 7 days, equivalent to approximately US$80.83 million

According to Spot On Chain monitoring, in the past 7 days, market makers GSR Markets and Wintermute have transferred 48.2 million ARB (USD 80.83 million) to CEX: · GSR Markets transferred 26.94 million ARB (USD 45.1 million) to Binance . These ARBs are from the token unlock on March 16th. · Wintermute transferred 21.24 million ARB ($35.7 million) to multiple CEXs, mostly Binance. Current holdings: 19.96 million ARB ($33.7 million).

A whale transferred 4.1 million YGG from Binance, equivalent to about 5 million US dollars

According to Scopescan monitoring, a whale withdrew 4.1 million YGG (5 million US dollars) from Binance today. The current profit is 273,000 US dollars (+5.5%).

A whale address transferred 42.67 million GMT from Binance again, equivalent to $15.95 million

According to @ai_9684xtpa, in the past ten minutes, a whale address transferred 42.67 million GMT from Binance again, worth $15.95 million. From March 25 to March 28, the address has accumulated a total of 175 million GMT (worth $60.01 million), with an average cost of $0.34.

Wintermute deposited 9 million ARB (about 14.9 million US dollars) to Binance in the past 3 hours

According to The Data Nerd, Wintermute deposited 9 million ARB (about 14.9 million US dollars) to Binance in the past 3 hours.

IMX, AGIX, and PENDLE are at the top of Smart Money's 24-hour inflow list

According to Nansen 2 data, Smart Money's 24-hour Ethereum network fund inflow tracking list is as follows: IMX: about 6 million US dollars, currently quoted at 2.907 US dollars, a 24-hour drop of 3.09%; AGIX: about 3.46 million US dollars, currently quoted at 1.24 US dollars, a 24-hour increase of 4.62%; PENDLE: about 930,000 US dollars, currently quoted at 4.0709 US dollars, a 24-hour drop of 6.06%.

0xf2b The whale started in 2 All 17,768 ETH were sold an hour ago

According to Spot on Chain monitoring, the whale address starting with 0xf2b sold all 17,768 US dollars of ETH 2 hours ago at a price of approximately US$3,503, which was exchanged for 62.24 million DAI. It is worth noting that these tokens include 14,277 ETH withdrawn by this address from Gemini and Bittrex between 2018 and 2021, at an average price of only about $679 (estimated cost: $9.69 million).

Project News

Ordinals founder releases Runes introduction document

Bitcoin NFT protocol Ordinals founder Casey Rodarmor releases Runes (Rune) Introducing document, Rune allows Bitcoin exchanges to etch, mint, and transfer Bitcoin-native digital goods. Although each inscription is unique, each runic unit is identical. They are interchangeable tokens suitable for various purposes. Rune Protocol messages are called Runestones and are stored in Bitcoin transaction outputs. Runes are created by etching. Etching creates a rune and sets its properties. Once set, these properties are immutable. Runestones may be improperly formed for a variety of reasons. Improperly formed runestones are called "monuments." Runes entered in transactions with "Monument" will be burned. "Monuments" are an upgrade mechanic that allow new semantics to be given to rune stones, changing how runes are created and transferred without misleading non-upgraded clients as to the location of those runes, as non-upgraded clients will see By the time these runes have been burned.

CeFi Information

KuCoin CEO: KCS and BTC worth US$10 million will be airdropped to loyal users

KuCoin CEO Johnny Lyu posted an official blog stating that some users experienced longer than expected waiting times for withdrawal requests between March 26 and 27. KuCoin is deeply responsible for the inconvenience caused and sincerely apologizes. We will launch a special airdrop event of KCS and BTC totaling US$10 million to express our gratitude to loyal users for their support. Specific rules will be officially announced within 3 days.

Opinion data

Bitcoin mining difficulty reduced by 0.98% to 83.13 T

According to BTC.com data, Bitcoin mining difficulty The difficulty ushered in a mining difficulty adjustment at block height 836640. The mining difficulty was lowered by 0.98% to 83.13 T. The current average computing power of the entire network is 595.44 EH/s.

Zhu Su : From a structural point of view, April is bullish, and the Bitcoin halving is coming

Zhu Su, co-founder of Three Arrows Capital, said on social media, “I really don’t understand the reason for being bearish here. , April is structurally extremely bullish, the Bitcoin halving is coming, the Ethereum ETF is about to be launched, ordinary people are waking up from their long slumber, there are no NFTs at Art Basel this year, we are still in the early stages.”

Analysis: Expected tonight After the U.S. stock market opens, the ETF custody address will have a net inflow of approximately 3,547 BTC

According to on-chain analyst Ember’s monitoring, the net inflow of ten BTC spot ETFs on March 27 was US$243.41 million, corresponding to today’s In the evening (March 28), after the US stock market opens, the ETF custody address will have a net inflow of approximately 3,547 BTC: Outflow: Grayscale (GBTC) outflow of approximately 4,368 BTC (corresponding to an outflow of US$299.84 million on March 27); Inflow: the remaining nine ETFs The main inflows of approximately 7,915 BTC (corresponding to an inflow of US$543.25 million on March 27) were BlackRock (IBIT) and Ark Invest (ARKB), which saw an inflow of 7,642 BTC (US$524.51 million). The ten BTC spot ETFs currently hold a total of BTC: 831,955 BTC ($57.1 billion).

Number of validators on the Ethereum network Has reached 1 million

According to Cointelegraph, according to Dune Analytics data, the number of validators on the Ethereum network has reached 1 million, of which the 32 million ETH pledged account for 26% of the total supply. Venture capitalist and Ethereum advocate Evan Van Ness said the current amount of staking may already be “too much.” Gabriel Weide, the operator of the staking pool, believes that too many validators may eventually lead to "transaction failure."

Meanwhile, Peter Kim, head of engineering at Coinbase Wallet, said that while the number of validators is “impressive,” the number is “limited by the 32 ETH Artificial exaggeration of the upper limit". It suggests that may soon change. As the number of validators continues to increase, Ethereum co-founder Vitalik Buterin has proposed a way to improve the decentralization of the network. On March 27, Buterin published a blog post proposing to penalize validators based on their average failure rate. If many validators fail in a given slot, the penalty for each failure will be higher. Vitalik said this approach has the potential to reduce the advantage that large ETH stakers have over smaller stakers.

Bitcoin The total assets under management of ETFs reached US$57.9 billion

According to data from Coinglass, the total assets under management of Bitcoin ETFs reached US$57.9 billion. Among them, the top three Bitcoin ETFs by asset management scale are: GBTC with an asset management scale of US$23.305 billion; IBIT with an asset management scale of US$16.735 billion; FBTC with an asset management scale of US$9.339 billion.

Sui TVL Breaking through US$700 million, reaching a record high

According to DefiLlama data, Sui TVL reached a record high of US$715 million. Among them, the lending protocol NAVI Protocol TVL reached US$162 million, with a weekly increase of 18.89%; the lending protocol Scallop Lend TVL reached US$159 million, with a weekly increase of 12.62%; the DEX protocol Cetus TVL reached US$118 million, with a weekly increase of 14.96%.

Base network TVL exceeded US$3 billion, reaching a record high

According to L2BEAT data, Base Network TVL exceeded US$3 billion and is now reported at US$3.02 billion, with a 7-day increase of 73.65%, reaching a record high.

American Bits Bitcoin spot ETF saw a net inflow of approximately US$254 million yesterday

According to data from @HODL15Capital, the US Bitcoin spot ETF saw a net inflow of approximately US$254 million yesterday. Among them, BlackRock IBIT had a net inflow of US$324 million, ARKB had a net inflow of US$201.8 million, and Grayscale GBTC had a net outflow of US$299.8 million.

Bele Delianchuang: Even if ETH is classified as a security by the SEC, there is still the possibility of spot ETFs being approved

BlackRock co-founder and CEO Larry Fink was interviewed by Fox Business Shi said that even if the U.S. Securities and Exchange Commission designates Ethereum as a security, its spot ETF may still be approved, which will intensify regulatory scrutiny surrounding ETH.

Financing Express

Bloomberg: Cryptocurrency venture capital firm 1kx raises $75 million for its new fund

Cryptocurrency venture capital firm 1kx has raised $75 million for its new fund, which received investment from venture capitalists Marc Andreessen, Accolade Partners and Galaxy Digital, Bloomberg reported. Accolade is the lead investor in the new fund, 1kx founding partner Lasse Clausen said in an interview. Andreessen Horowitz partner Chris Dixon is also a limited partner in the fund. 1kx focuses on areas including crypto applications for consumers. The new fund has made about five investments but did not disclose the names of the startups it supports.

dappOS completed US$15.3 million in Series A financing, led by Polychain

According to Cointelegraph, the intended execution network dappOS completed US$15.3 million in Series A financing, led by Polychain, with Nomad Capital, IDG, Flow Traders, IOBC , NGC, Amber Group, Uphonest, Taihill, Waterdrip, Bing Ventures, Spark Digital Capital, Web3Port Foundation, Satoshi Lab and Metalpha participated in the investment, with a valuation of US$300 million. BlockBeats previously reported that on July 21, 2023, dappOS announced the completion of a seed round of financing at a valuation of US$50 million. IDG Capital and Sequoia China led the investment, with participating investors including OKX Ventures, HashKey Capital, KuCoin Ventures, etc. . In addition, dappOS was selected into Binance Labs’ fifth season incubation program in November 2022, and received a Pre-Seed round of financing from Binance Labs in June 2023.

Welcome to join Rhythm BlockBeats Official Community

Telegram subscription group: https://t.me/theblockbeats

Telegram communication group: https://t.me/theblockbeatsApp

Twitter official account: https://twitter.com/BlockBeatsAsia