Rhythm Evening News｜SAGA breaks through $7; TON market value becomes the 10th largest cryptocurrency

Featured News:

1. Shenyu: "BTC will reach 1.5 million US dollars in 2030" prediction is still conservative, and large financial institutions will be the core players in one or two cycles;

2. An Ethereum IC0 participant deposited 10,000 ETH to Renzo and Swell 8 hours ago;

3. TON's market value surpassed ADA and became the 10th largest cryptocurrency by market value;

4. Helius CEO: Solana network problems are not design defects, and the fix is expected to be launched on April 15;

5. SAGA broke through 7 US dollars, up more than 20% in 1 hour

Price Observation

SAGA broke through 7 US dollars, up more than 20% in 1 hour

Price Observation

SAGA broke through 7 USD, up more than 20% in 1 hour

According to Binance market data, SAGA broke through 7 USD and is now quoted at 7.43 USD, up more than 20% in 1 hour, and its total market value (FDV) has exceeded 7 billion USD.

TON briefly hit 7 USD, a record high

According to OKX market data, TON briefly hit 7 USD and is now quoted at 6.82 USD, up 23.4% in 24 hours, a record high. Related reading: TON's rapid rise among the top ten cryptocurrencies

ENA rose above $1.36, setting a new record

According to market data, ENA rose above $1.36, a 24-hour increase of 15.4%, setting a new record.

Transaction Tracking

A whale/institution transferred 800 BTC to Binance 6 hours ago, equivalent to 57.16 million US dollars

According to @ai_9684xtpa, a whale/institution transferred 800 BTC to Binance 6 hours ago, equivalent to 57.16 million US dollars. This address transferred 2024 BTC from Binance at an average price of 73,396 US dollars at the new high of BTC on March 14, worth 148 million US dollars; if all are sold this time, a loss of 1.55 million US dollars will be made.

A trader spent 6.6 SOL to buy 33.7 million SC, and the current profit reached 3.7 million US dollars

According to The Data Nerd, a trader spent 6.6 SOL (about 1,230 US dollars) to buy 33.7 million SC (Shark Cat). Four days later, the trader began to sell 12 million SC and received 1.5 million US dollars. Currently, he still holds 21.7 million SC, which is about 2.2 million US dollars.

An Ethereum IC0 participant deposited 10,000 ETH to Renzo and Swell 8 hours ago

According to @ai_9684xtpa, an Ethereum IC0 participant deposited 10,000 ETH to Renzo and Swell 8 hours ago, worth $73.56 million. It has now become the fourth largest individual staking address of Renzo. It is reported that the OG received 314,807 ETH from the Genesis address on July 30, 2015, at a cost of only $0.31.

A whale bought $3.02 million worth of DEGEN 11 hours ago, with a temporary floating loss of $248,000

According to Lookonchain monitoring, a whale used ETH worth $3.02 million to buy DEGEN 11 hours ago. The current value of this DEGEN is $2.77 million, and the whale has a temporary floating loss of $248,000.

1INCH, GRT and BICO 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:

1INCH: US$4.17 million inflow, currently quoted at US$0.6018, with a 24-hour increase of 7.1%;

GRT: US$2.73 million inflow, currently quoted at US$0.3495, with a 24-hour increase of 5.02%;

BICO: US$1.45 million inflow, currently quoted at US$0.7945, with a 24-hour decrease of 11.46%.

Project Dynamics

Whales Market founder: GM tokens are coming soon

Whales Market founder dexter said on the social platform that GM tokens will be launched soon when responding to Twitter users about the launch schedule of GM tokens. It was previously reported that the official website of the AI project gm.ai has been officially launched, and the official gateway access to the gmAI ecosystem will be launched soon.

Eclipse mainnet will soon be open to developers

Ethereum's first SVM Layer2 network Eclipse said on social platforms that the mainnet will soon be open to developers. It was previously reported that the Eclipse team plans to launch its final mainnet version in the second quarter of this year, and has already launched developer network and testnet versions. It plans to deploy cooperative projects including well-known dapps such as Rarible, Pyth Network and Solend when the mainnet is launched.

UniSat submits new BRC20-swap proposal and will suspend BRC20-swap service

UniSat said in a statement that as one of the active implementers and maintainers of the BRC-20 standard, UniSat has been working with domo and bestinslot and has submitted BRC20-swap related proposal IP2. UniSat plans to release all source code implementations of BRC20-swap, making the source code of BRC20-swap public property, and other teams have the opportunity to build their own exchange platforms based on UniSat's code. UniSat also welcomes other stablecoin solution providers willing to provide support on brc20-swap. In order to prepare for the upcoming source code release, the coordination of indexers, and the feature delivery itself, starting today, the BRC20-swap service on UniSat will be suspended until the proposal is finalized. Development activities on the testnet will proceed as usual.

Helius CEO: Solana network problems are not design flaws, and fixes are expected to be launched on April 15

Mert Mumtaz, CEO of Solana ecosystem development platform Helius, wrote on social platforms to explain the reasons for Solana's recent network instability. He pointed out that Solana's current problems do not stem from protocol design flaws, but from bugs in specific implementations. Solana uses the QUIC network protocol, but the current QUIC implementation version used has some defects and errors.

The CEO further explained that the design of the protocol is like the overall design of a car, while the specific implementation is similar to the car models of different brands. The problem with a certain brand model does not mean that all cars have design flaws. Solana only needs to replace the problematic "parts" without changing the entire "model". He revealed that the implementation being developed by Firedancer does not have the same problem. The fix is expected to be launched on April 15, and the launch time may be delayed if other problems are found during testing. In addition to technical issues, the CEO believes that Solana also needs to consider long-term economic sustainability factors, and the local fee market and economic incentives can be planned more clearly after the bug is fixed.

EOS Network Foundation CEO: Plans to propose a new token economics by the end of the month

Yves La Rose, CEO of the EOS Network Foundation, announced plans to propose a new token economics by the end of the month.

CeFi News

OKX will launch BlockGames (BLOCK)

According to the official announcement, OKX will launch BlockGames (BLOCK), recharge has been opened, and BLOCK/USDT spot trading will be open at 20:00 on April 11, Beijing time.

OKX will launch Foxy (FOXY)

According to official news, OKX will launch Linea network Meme project Foxy (FOXY) spot trading, deposit is now open, and trading is expected to open at 16:00 on April 12.

Binance financial management, flash exchange, leverage, contract launch Saga (SAGA)

According to the official announcement, Binance's financial management and flash exchange trading platforms have launched the new asset Saga (SAGA). In addition, Binance will launch SAGA on the leverage, contract and fixed investment platforms at 18:30 (GMT+8) on April 9, 2024, 18:30 (GMT+8) on April 9, 2024, and 18:30 (GMT+8) on April 11, 2024.

Opinion data

TON's market value surpasses ADA, becoming the 10th largest cryptocurrency by market value

According to CoinGecko data, TON is currently priced at US$6.93, with a market value of US$23.9 billion, surpassing ADA to become the 10th largest cryptocurrency by market value.

Vitalik: EIP-4844 lays the foundation for future expansion through DAS (Data Availability Sampling)

At the 2024 Hong Kong Web3 Carnival, Ethereum co-founder Vitalik Buterin delivered a keynote speech entitled "Building on Ethereum in the 2020s". He stated that EIP-4844 laid the foundation for future expansion through DAS (Data Availability Sampling). The current DAS can accommodate 3 blobs (about 375 kB), the next stage of PeerDAS will be 8-16 blobs (about 1-2MB), and the final complete DAS can accommodate 128 blobs (about 16MB).

Analysis: It is expected that the ETF custody address will have a net outflow of about 3,122 BTC after the U.S. stock market opens tonight

According to on-chain analyst Yu Jin’s monitoring, on April 8, the ten BTC spot ETFs had a net outflow of $223.84 million, which corresponds to a net outflow of about 3,122 BTC from the ETF custody address after the opening of the U.S. stock market tonight (April 9): · Outflow: Grayscale (GBTC) outflowed about 4,232 BTC (corresponding to an outflow of $303.34 million on April 8); · Inflow: The remaining nine ETFs inflowed about 1,110 BTC (corresponding to an inflow of $79.5 million on April 8). Currently, the ten BTC spot ETFs hold a total of 842,744 BTC (US$60.4 billion).

friend.tech had a net inflow of 1,300 ETH yesterday, setting a record for the highest single-day net inflow since September 29 last year

Data released by Tom Wan, an on-chain data and research analyst at 21.co, showed that friend.tech had a net inflow of 1,300 ETH on April 8, the highest net inflow since September 29, 2023; at the same time, trading volume increased to US$7 million, after an average trading volume of US$1 million in 2024; TVL rebounded to US$42 million. The platform has generated more than US$61 million in revenue since its inception.

In addition, friend.tech points were traded in the $5 price range on Whales Market.

Ethereum liquidity re-pledge agreement TVL exceeds $10 billion, Renzo TVL exceeds $3 billion

According to DeFiLlama data, the current TVL of Ethereum liquidity re-pledge agreement is $10.11 billion, of which the top three agreements in terms of TVL are:

· ether.fi TVL is $3.892 billion, with a 7-day increase of 19.94%;

· Renzo TVL is $3.048 billion, with a 7-day increase of 37.76%;

· Puffer Finance TVL is $1.392 billion, down 9.79% in 7 days.

Data: The total value of USDe's Bitcoin collateral assets has exceeded $550 million

Official website data shows that the total value of USDe's Bitcoin collateral assets has exceeded $550 million, of which about $420 million is held on Binance, about $95.6 million is held on OKX, and about $38.4 million is held on Deribit.

Regulatory News

South Korean Financial Authority: Selling illegally obtained virtual assets is considered "illegal transactions" and may be investigated

According to News 1, an official from the South Korean financial authorities revealed that the sale of illegally obtained virtual assets is also considered "illegal transactions" and may be investigated. This is a comment made in an interview regarding the recent "NFP token incident" on the Coinone trading platform. The NFP token incident occurred on March 28, when a Korean investor purchased the stolen assets from hackers through an over-the-counter transaction and then transferred a large amount of funds to Coinone. Coinone did not prevent deposits and withdrawals, causing the token price on Coinone to fall 70% from the global average price.

U.S. Treasury seeks more sanctions powers against cryptocurrency trading platforms

According to Bloomberg, the U.S. Treasury Department is asking politicians to give it more law enforcement powers to crack down on foreign institutions that provide encryption services as part of its goal of protecting national security. U.S. Treasury Deputy Secretary Adewale O. Adeyemo said in written testimony before a Senate hearing on Tuesday that more and more people are looking for ways to hide their identities and transfer resources with virtual currencies."

Adeyem is seeking lawmaker approval for a secondary sanctions tool targeting foreign digital asset providers to combat illicit financing activities. In addition, the Treasury Department also wants to explicitly expand its jurisdiction to cover key digital asset players, such as cryptocurrency trading platforms. The Treasury Department also requested the authority to crack down on cryptocurrency platforms when they exploit the U.S. financial system to undermine U.S. national security.

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