Rhythm Morning News | Bitcoin briefly fell below $63,000 this morning; Parcl opens airdrop claim inquiry

Featured News:

1. Bitcoin briefly fell below $63,000 this morning, a 24-hour drop of 3.35%;

2. A whale bought $16 million worth of Bitcoin during the market decline;

3. Parcl announced the detailed distribution plan of the community PRCL token and opened airdrop application inquiries;

4. Bloomberg ETF analyst: The inflow scale of Hong Kong Bitcoin and Ethereum spot ETFs may be US$500 million;

5. The net inflow of multiple spot ETFs including Fidelity FBTC was 0 yesterday, and the overall net outflow of ETFs on a single day has been basically confirmed

Price Observation

BAYC floor price fell below 11ETH, a new low since August 2021

On April 16, according to Blur data, the floor price of Bored Ape Yacht Club (BAYC) fell below 11 ETH, and is now reported at 10.899 ETH, down 12.08% in 7 days, the lowest data since August 2021.

Bitcoin briefly fell below $63,000 this morning, a 24-hour drop of 3.35%

On April 16, according to OKX market data, Bitcoin briefly fell below $63,000 in the early hours of this morning, and is now quoted at $63,352, a 24-hour drop of 3.35%.

RAIL breaks through $1.8, with a 24-hour increase of more than 200%

On April 15, according to market information, RAIL broke through $1.8 and is now quoted at $1.83, with a 24-hour increase of 208%.

Previously, Vitalik responded to the use of the privacy protocol Railgun, saying that the protocol can effectively prevent malicious actors from joining and protect user privacy.

Transaction Tracking

A whale withdrew ETH worth $31.5 million 4 hours ago and deposited it into Pendle and Renzo

On April 16, according to Lookonchain monitoring, a whale withdrew ETH worth $31.5 million from Binance 4 hours ago and deposited it into Pendle and Renzo.

A whale bought $16 million worth of Bitcoin during the market decline

On April 16, according to Lookonchain monitoring, a whale bought 244 bitcoins (worth $16 million) during the market decline.

It is reported that the address has accumulated 915 BTC (worth approximately $59 million) since December 1, 2023.

1inch Foundation is suspected of selling 6 million 1INCH tokens through market maker GSR

On April 15, according to monitoring by on-chain analyst Ember, the 1inch Foundation multi-signature address transferred 6 million 1INCH (worth approximately US$2.52 million) to the wallet address of market maker GSR 3 hours ago. GSR then transferred 1.55 million 1INCH to multiple trading platforms.

The suspected METIS market maker address recharged more than 56,000 METIS to Coinbase, worth 3.44 million US dollars

On April 15, according to @ai_9684xtpa monitoring, 50 minutes ago, the suspected METIS market maker address recharged 56,144 METIS to Coinbase again after four months, worth $3.44 million.

It is reported that this part of METIS was transferred from Coinbase between December 22 and 26, 2023, with an average price of $57. If all were sold, a profit of $80,000 would be made; METIS fell 47% in the past 30 days, resulting in a serious reduction in profits. On March 12, when the currency price hit a record high, the floating profit was as high as $4.31 million.

A newly created wallet withdrew a total of $17.43 million worth of altcoins from Binance in the past 3 hours

On April 15, according to Lookonchain monitoring, a newly created wallet withdrew a total of $17.43 million worth of altcoins from Binance in the past 3 hours. These included: AVAX worth $1.86 million, FET worth $1.45 million, GRT worth $1.44 million, MATIC worth $1.41 million, OP worth $1.29 million, etc.

DWF Labs withdrew 10.8 million IDs from Binance 10 minutes ago

On April 15, according to Ember monitoring, 10 minutes ago, DWF Labs withdrew 10.8 million IDs from Binance, worth about 8 million US dollars.

A whale deposited 100,000 LINK and 1,000 ETH to Binance 20 minutes ago

On April 15, according to @ai_9684xtpa monitoring, a whale deposited 100,000 LINK and 1,000 ETH to Binance 20 minutes ago, with a total value of $4.7 million.

It is reported that the whale opened a position of 525,000 LINK at an average price of $12.78 in February this year. Since April, it has transferred a total of 340,000 LINK (worth $4.86 million) to Binance, with an average price of $14.3. If all are sold, it will make a profit of $510,000.

Grayscale transferred about 897 BTC to the Coinbase Prime address

On April 15, according to Arkham data, the Grayscale address transferred about 897.723 BTC to the Coinbase Prime address about 10 minutes ago, worth about 59.24 million US dollars.

In addition, Grayscale also transferred 3395.976 BTC (worth about 224 million US dollars) to 5 new addresses.

Project Dynamics

Aigisos Genesis Rolldrop will be available for collection in Q2, and the official reminds users to be vigilant against phishing

On April 16, Aigisos, the RollApp network based on Dymension, announced that its Genesis Rolldrop token collection page was suspected to have been leaked to the Internet. There are currently multiple phishing links circulating on the Internet, and Aigisos officials remind users not to interact with any links.

Aigisos said that the official Rolldrop collection page will first be announced on its official channels, and community users will be able to go there to collect it. Before that, please avoid clicking or visiting any related links. Genesis Rolldrop token collection is expected to start in the second quarter, and the specific date has not yet been determined.

Hyperliquid: Meme coin PURR will be available for trading at noon on April 16, and 50% will be airdropped to Points holders in proportion

On April 16, Hyperliquid announced that it will launch the spot trading function of its first native token PURR on the L1 mainnet from 12:00 to 14:00 Beijing time today. The total amount of PURR is 1 billion, of which 50% will be airdropped to Points holders in proportion, and the other 50% will be permanently locked in the liquidity pool of the PURR/USDC trading pair through the "Hyperliquidity" mechanism.

PURR is issued based on two permissionless native token standards independently developed by Hyperliquid:

HIP-1: allows the deployment of native tokens and the creation of on-chain spot order books.

HIP-2: An innovative mechanism called "Hyperliquidity" that can permanently lock liquidity in the spot order book of HIP-1 tokens, forming a synergistic effect with the user's order liquidity.

Similar to perpetual contracts, PURR's spot order book will also run entirely on-chain. Hyperliquid said that HIP-1 and HIP-2 are important steps towards a high-performance universal infrastructure. PURR will be the first native asset issued based on the HIP-1 standard. In the future, HIP-1 is expected to become the permissionless infrastructure of Hyperliquid L1 and create possibilities for cross-chain bridging from other chains.

Parcl announces detailed distribution plan for community PRCL tokens and opens airdrop claim inquiry

On April 16, Solana Ecological Real Estate Trading Protocol Parcl announced that the claim checker for the initial community allocation of PRCL is now online on the points page of Parcl users, and airdrop claims will be launched through Parcl Limited at 20:59 Beijing time on April 16.

Based on the performance of users in the Points loyalty program, Parcl adopts a linear distribution model, while setting an upper limit for top users to protect decentralization.

The specific distribution plan is as follows:

Users who have obtained more than 6,000 Points are eligible to participate in the airdrop, accounting for about 75% of the total users.

Users with 6,000 to 40,000 points (about 27%) will receive a fixed 20 PRCL, part of which comes from the redistribution to top users.

Users with 40,000 to 1.3 billion Points (approximately 48%) will be provided with a linear distribution proportional to the number of points earned.

The top five super users will receive 3.75 million, 2.5 million, 1 million, 1 million, and 1 million PRCL respectively after adjustment.

Sybil Attack users who abuse the Points mechanism will be removed, and organized LP supply groups will be treated as a single entity to share a fixed 20 PRCL.

In addition, a snapshot was taken for all HOA NFT holders on April 11, and approximately 1,700 Diamond Hands level holders will each receive an additional 655 PRCL, and the remaining Common levels will receive 420 each. A snapshot of Mad Lads NFT holders was taken on April 5th, with 6,700 NFTs from approximately 4,400 participants receiving 150 PRCL per NFT.

Illuvium Launches $25 Million ILV Token Airdrop

On April 16, Web3 metaverse game Illuvium announced the launch of GameFi's largest token airdrop event ever. This airdrop season totals 250,000 ILV tokens, worth approximately $25 million. 50,000 of them will be used to reward loyal users of the Illuvium ecosystem, and the remaining 200,000 will be distributed in a 6-month "Play-to-Airdrop" event.

The loyalty airdrop will reward users who have participated in the Illuvium ecosystem in the past 3 years, including staking ILV tokens, providing LP liquidity, purchasing virtual plots, trading NFTs, etc., and will be issued in Q2 2024. Illuvium took a snapshot at 23:59 UTC on April 14, 2024.

The "Play-to-Airdrop" event requires users to participate and interact as much as possible in the four Illuvium games, including arena battles, virtual world exploration, land development, NFT collection and trading, etc. The activity points determine the number of airdropped ILVs.

The first 20,000 ILV will be distributed during the Beta testing phase that will start at the end of April, followed by the game entering public testing at the end of May, and 180,000 ILV will be airdropped in the next five months after the official launch.

Worldcoin Foundation Launches Wave1 Community Grant Program

On April 16, the Worldcoin Foundation announced the official launch of the Wave1 Community Grant Program, accepting grant applications from community members around the world. Currently, Worldcoin has more than 10 million users in 167 countries. The program aims to support global organizers, developers, and researchers to contribute to the expansion of an efficient and inclusive global identity and financial system.

Wave1 funding categories include improving developer experience and tools, digital identity, ecosystem growth, governance exploration, etc. Applicants can receive community funding of up to $10,000, project funding of up to $50,000, and higher amounts of open project and request for proposal (RFP) funding. Applications will close on May 24.

Chainge CEO: User funds are safe, assets have been transferred to a safe address

On April 16, Chainge CEO DJ Qian said that user funds are safe, protocol assets are being transferred to Chainge's own address, and will be returned for security reasons after the cross-chain infrastructure based on smart contracts is upgraded. Earlier news, according to Paidun monitoring, the cross-chain liquidity protocol Chainge code may have vulnerabilities that may cause funds to be transferred out without authorization.

Omni Network: Token claims and staking will be open on the 17th

On April 15, Omni Network stated on its social platform that token claims and pledges will be open at 19:00 on the 17th.

EOS launches packaged RAM to improve the tradability of the asset

On April 15, according to the official announcement, EOS announced the launch of packaged RAM (WRAM) to improve the tradability of the asset. The announcement stated that WRAM can be listed on external trading platforms and third-party websites to enhance its popularity and tradability.

It is reported that RAM is a limited resource required for operations on the EOS blockchain. As a physical resource, the supply is limited to the resources provided by nodes on the EOS distributed network to support activities such as running dApps, managing smart contracts, and executing transactions.

Injective launches INJ 3.0 proposal: plans to gradually reduce the INJ inflation rate within two years and increase responsiveness to staking activities

On April 15, Injective announced that it would propose the INJ 3.0 proposal, which aims to reduce the issuance of new INJ by reducing on-chain parameters, making it a more deflationary crypto asset than before.

The proposal plans to gradually reduce the INJ inflation rate within two years and increase responsiveness to staking activities to make INJ a more inflation-resistant crypto asset. It is expected that the proposal will be submitted to the voting stage before April 19.

Ethena Labs: ENA pool limit increased to $300 million

On April 15, Ethena Labs announced two updates on the X platform:

1. Users can now deposit ENA into Pendle Finance and receive 30 times the daily reward, with a cap of $100 million.

2. The ENA liquidity pool has locked nearly $200 million, and the pool cap has been increased to $300 million.

Bitcoin's native DA layer Nubit Pre-Alpha test network will complete testing at 7:00 on the 17th

On April 15, according to official news, Bitcoin's native DA layer Nubit Pre-Alpha test network will complete testing at 7:00 on April 17th, Beijing time.

Nubit previously launched a Pre-Alpha test network waitlist activity. Participants need to connect their wallets and get an invitation code. Accumulating 2,000 points will unlock Gas coupons, which can be used to pay for transaction fees on the Nubit DA layer. Waitlist points can be obtained by recommending friends, holding BRC20 tokens and Ordinals NFTs, etc.

Previously, in March this year, Nubit completed a $3 million Pre-Seed round of financing, with participation from dao5, OKX Ventures, and Primitive Ventures. This round of financing is a key step for Nubit to establish the first Bitcoin native data availability layer, and aims to lead the modular paradigm shift in the Bitcoin ecosystem.

Jupiter announces Metropolis Part 1, launching new T0 API for new tokens

On April 15, Solana ecosystem DEX Jupiter announced the launch of Metropolis Part 1, allowing users to trade new tokens and markets immediately.

This is a major upgrade for Jupiter to manage new tokens/markets and token lists. They are launching a new T0 API for new tokens, allowing users to query the market with the largest liquidity on the chain for direct exchange.

This feature currently supports Raydium's CPMM pools and Meteora Dynamic Pools/DLMM, as well as Orca Whirlpools.

Users can try this feature on Jup.ag. In addition, they have made some upgrades to Jup.ag to reduce loading times. They plan to launch Metropolis Part 2 and a list of ecological tokens.

zkSync DeFi Head: Will leave at the end of April to focus on modular blockchain sophon

On April 15, zkSync DeFi Head @0xsebastiena said on the social platform that he would leave at the end of April and focus on the modular blockchain sophon built on ZK Stack.

In March this year, sophon completed a $10 million financing round, with Paper Ventures, Maven 11, The Spartan Group, SevenX Ventures, OKX Ventures, HTX Ventures and other investors participating in this round.

Parcl CEO: Will introduce derivatives markets for more assets such as SOL, BTC and foreign exchange

On April 15, T Bacon, CEO of Solana Ecological Real Estate Trading Market Parcl, said during the "Crazy Backpack Talk" event at Backpack's Chinese official X live broadcast room that many product updates will be made in the next two months, including increasing the leverage multiples available to users from 10 to 100, and opening the real estate rental market. In addition, Parcl will also introduce derivative markets for cryptocurrencies such as SOL and BTC, as well as more assets such as foreign exchange.

Parcl is a Solana ecological real estate trading market protocol. It has established a strategic partnership with SkyBridge Capital and is expected to carry out the first distribution of PRCL tokens in the next two days. Backpack will also launch spot trading of PRCL as soon as possible.

STEPN and Adidas collaborate to launch NFT sneakers

On April 15, according to official news, STEPN announced a collaboration with sports brand Adidas to launch limited edition NFT sneakers. It is reported that the STEPN x adidas Genesis sneaker series will be available on STEPN's NFT market MOOAR on Wednesday, April 17. The announcement stated that this Genesis series is the first in a series of joint activities between STEPN and Adidas in a one-year partnership, and more NFT releases and physical wearable items will be seen on the roadmap.

CeFi News

Binance new coin mining FDUSD data shows that it has been restored to normal, and about 3.14 billion coins are involved in mining

On April 15, according to Binance official information, Binance OMNI mining FDUSD data has been restored to normal, and currently shows that about 3.14 billion coins are involved in mining.

Previously, according to community feedback, the data displayed by OMNI mining FDUSD was significantly different from the actual issuance data of FDUSD. Binance responded to BlockBeats that the above problem was a problem with the mining data display, and the problem has been resolved.

OKX will launch Parcl (PRCL) spot trading on April 16

On April 15, according to the official announcement, OKX will launch Solana on-chain real estate market Parcl (PRCL) spot trading at 21:00 on April 16.

Opinion Data

Data: A total of 655 million BLUR have been unlocked and transferred to Coinbase Prime, accounting for 21.8% of the total

On April 16, according to Ember's monitoring, 38.41 million BLUR (14.78 million US dollars) were unlocked and transferred from the Blur unlocking contract to the 0x0A0 multi-signature address 2 hours ago. The 0x0A0 multi-signature address has currently conducted a small deposit test to Coinbase Prime. These 38.41 million BLUR should also be transferred to Coinbase Prime as before.

Since BLUR entered the unlocking cycle on June 15, 2023, a total of 21.8% (655 million pieces) of BLUR has been unlocked and transferred to Coinbase Prime.

Multiple spot ETFs including Fidelity FBTC had a net inflow of 0 yesterday, and the overall net outflow of ETFs in a single day has been basically confirmed

On April 16, according to HODL15Capital monitoring, Grayscale GBTC had a net outflow of about US$110 million yesterday, and BlackRock IBIT had a net inflow of US$78 million. At present, the net inflow/outflow data of many other spot ETFs, including Fidelity FBTC, were all 0 yesterday, and only the BRRR data of Invesco's BTCO and Valkyrie have not been released yet, which basically confirms the overall net outflow on April 15.

QCP Capital: Market risk aversion has increased, and ETH risk reversal indicators have turned extremely negative

On April 16, crypto market maker QCP Capital pointed out in its latest market report that although Asian markets rebounded early on Monday on the positive news of Hong Kong's approval of Bitcoin and Ethereum ETFs, the U.S. market once again saw a comprehensive sell-off of risky assets. BTC fell below $63,000 again.

It is worth noting that the ETH risk reversal indicator has turned extremely negative (-12%) at the near end, indicating that market sentiment is tense. In addition, the market is currently in an ETH Gamma short state, which means that the sharp fluctuations in ETH prices may be amplified.

Given the current market tensions and uncertainties, QCP recommends deploying high-convexity zero-downside risk strategies on ETH, such as shark fin structured products. Taking the reference price of $3,100 as an example, a bullish ETH shark fin can obtain an annualized return of up to 57% when the ETH price is between $3,500 and $3,900 at expiration; a bearish ETH shark fin can obtain an annualized return of up to 54% when the ETH price is between $2,500 and $2,800 at expiration. If the ETH price breaks through the above range, the principal will be returned 100%.

Informed sources: Polychain, DCG and dao5 hold at least $350 million worth of TAO tokens

On April 15, Fortune magazine cited informed sources that Polychain, a venture capital firm founded by Coinbase early employee Olaf Carlson Wee, incubated Bittensor in 2019. The company currently holds about $200 million in Bittensors tokens.

In addition, dao5, an investment fund founded by Polychain alumnus Tekin Salimi, holds about $50 million in TAO and is an early supporter of the Bittensor ecosystem.

Digital Currency Group is another supporter of the protocol, holding about $100 million in TAO. A DCG spokesperson declined to comment. In a 2021 Business Insider article, DCG investor Matthew Beck recommended Bittensor as one of the 53 most promising crypto startups.

Bloomberg ETF Analyst: Hong Kong Bitcoin and Ethereum Spot ETF Inflows May Be $500 Million

On April 15, Bloomberg ETF analyst Eric Balchunas posted on the X platform that the Hong Kong spot Bitcoin ETF has been approved in principle, but has not yet been launched. It is not expected that there will be a lot of flow in the Hong Kong spot Bitcoin ETF (some estimate $25 billion, which is crazy), and the estimated capital inflow scale of Bitcoin and Ethereum spot ETFs may be $500 million, for the following reasons:

1. The Hong Kong ETF market is very small, only $50 billion.

2. The three approved spot Bitcoin ETF issuers (Bosera, China Asset Management, and Harvest) are small in scale. There are no large institutions like BlackRock involved yet.

3. The liquidity/efficiency of the underlying ecosystem is low = these ETFs may have large spreads and prem discounts.

4. Transaction fees may be 1-2%, which is higher than US spot Bitcoin ETFs.

Bitcoin network transaction fees soared, with high priority reaching 202 Sat/byte

On April 15, according to mempool.space data, Bitcoin network transaction fees soared, with high priority reaching 202 Sat/byte.

Data: Dingaling ranks first in KOL financing participation list with 21 projects participated

On April 15, according to statistics from Web3 asset data platform RootData on KOL participation in project financing, Dingaling ranked first with 21 projects participated in financing. @gmoneyNFT and DCF GOD ranked 2nd and 3rd respectively.

Vitalik responded to the use of the privacy protocol Railgun: This protocol can effectively prevent malicious actors from joining and protect user privacy

On April 15, Vitalik responded to the use of the privacy protocol Railgun on his social platform, saying that Railgun can effectively prevent malicious actors from joining and protect user privacy by using the privacy pool protocol. Earlier news, Vitalik's associated address transferred 100 ETH to the privacy solution Railgun this afternoon.

Financing Express

AI Metaverse Game AVALON Completed US$10 Million in Financing, Led by BITKRAFT Ventures and HASHED

On April 15, according to official news, AI Metaverse Game AVALON completed US$10 million in financing, led by BITKRAFT Ventures and HASHED, with participation from Coinbase Ventures, Foresight Ventures, Delphi Digital, Spirit DAO, Sanctor Capital, DEXT Force Ventures, Follow the Seed, LVT Capital, Andromeda Capital, FocusLabs, LiquidX and Momentum6.

Avalon CEO and founder Sean Pinnock said that the Avalon universe prioritizes providing an immersive gaming experience by combining cutting-edge technologies such as Unreal Engine 5 with an AI-assisted user-generated content system. The team focuses on no-code solutions to enable players to easily create game logic. In addition, the project's upcoming NFT series will introduce AI-driven avatar NFTs.

The announcement stated that the closed early access version of the game will be launched later this year.

Solana on-chain AI model training platform NavyAI completes seed round financing, X Ventures and others participate

Solana on-chain AI model training platform NavyAI announced that it has completed seed round financing, X Ventures, AlfaDAO, and Moni participated in the investment, the specific amount and valuation have not been disclosed. NavyAI is a blockchain layer dedicated to AI model training and self-learning, providing cost-effective solutions to reduce AI bias, and through decentralized GPU resources, users can access and train virtual AI models to improve artificial intelligence accessibility and fair innovation.

Regulatory News

Two US senators asked CFTC Chairman to submit records of correspondence with SBF and intensify the investigation into FTX bankruptcy

On April 16, according to The Block, US Senators Elizabeth Warren and Chuck Grassley wrote to Rostin Behnam, Chairman of the US Commodity Futures Trading Commission (CFTC), asking him to submit records of correspondence with FTX founder Sam Bankman-Fried (SBF) by April 29.

The two senators said that in order to determine the nature of the relationship between the regulator CFTC and SBF and find out how this multi-billion dollar crime occurred, Congress and market regulators such as the CFTC must take action to protect the savings and retirement funds of the American people.

In 2022, Bennum testified before the Senate Agriculture Committee that his team met with SBF and other FTX executives about 10 times in the 14 months before FTX's bankruptcy, and "exchanged multiple messages" with SBF.

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