Rhythm Evening News | Zeta Markets will airdrop to Solana ecosystem projects; 10x Research says this round of cryptocurrency bull market cycle may be

Featured News:

1. The price of the rune DOG•GO•TO•THE•MOON is currently $0.0032, up 43.84% in 24 hours;

2. The Ethereum Foundation transferred 1,000 ETH to a multi-signature contract address 1 hour ago, possibly for funding purposes;

3. Zeta Markets will airdrop 1% of the total token supply to Solana ecosystem projects such as Jupiter;

4. "Big Short" prototype: Cryptocurrency is one of the three great themes of this era;

5. 10x Research: This round of cryptocurrency bull market cycle may be shorter than ever

Price Observation

Ethereum briefly fell below 3,000 USD

According to OKX market information, Ethereum briefly fell below $3,000 and is now quoted at $3,001.26, a 24-hour drop of 2.57%.

IO futures contracts launched on Aevo, temporarily quoted at $4.31

According to official news, Aevo has launched IO futures contracts, which are currently quoted at $4.31.

Bitcoin briefly rebounded above $63,000

According to OKX market data, Bitcoin briefly rebounded above $63,000 and is now quoted at $62,947, down 0.5% in 24 hours.

FTT broke through $1.9, up more than 19% in 24 hours

According to market data, FTT broke through $1.9 and is now quoted at $1.92, up 19.16% in 24 hours.

The price of Rune DOG•GO•TO•THE•MOON is currently $0.0032, with a 24-hour increase of 43.84%

According to OKX market information, the price of the Runestone airdrop rune DOG•GO•TO•THE•MOON is currently 5.127 sats (about 0.0032 USD), a 24-hour increase of 43.84%.

Meme coin sector fell across the board, WIF fell more than 14% in 24 hours

According to market data, the Meme coin sector experienced a general decline, including:

WIF fell 14.46% in 24 hours and is currently quoted at $2.978;

BOME fell 11.32% in 24 hours and is currently quoted at $0.01071;

PEPE fell 6.9% in 24 hours and is currently quoted at $0.0(5)797;

FLOKI fell 5.41% in 24 hours and is currently quoted at $0.0001719.

TRB rose more than 18% in 24 hours, temporarily reported at $112.4

According to OKX market data, TRB rose more than 18% in 24 hours, temporarily reported at $112.4.

Transaction tracking

The Ethereum Foundation transferred 1,000 ETH to a multi-signature contract address 1 hour ago, possibly for funding purposes

According to on-chain analyst Ember, 1 hour ago, the Ethereum Foundation transferred 1,000 ETH (US$3 million) to the 0xbC9...bC3 multi-signature contract address.

According to the previous situation, these ETH will be sold in batches and exchanged for DAI and transferred to the Ethereum Foundation's funding wallet (0x9eE...13D).

Kronos Research attacker address has transferred about 700 ETH to Tornado Cash for money laundering

According to Paidun monitoring, the Kronos Research attacker address has transferred 100 ETH to Tornado Cash, and about 1,615 ETH (worth about $4.9 million) to the new address 0xb726…4a09, and started to launder money through Tornado Cash (about 700 ETH have been sent to Tornado Cash so far).

Amber Group recharged 500,000 LDO to Coinbase again, still holding 6 million LDO

According to @ai_9684xtpa monitoring, half an hour ago, after a month, Amber Group recharged 500,000 LDO to Coinbase again, worth $980,000.

Currently, the address still holds 6 million LDO, worth $11.88 million, with an average cost of about $1.84 (positions were established during 2022.07-2023.06), and the remaining floating profit is $80,000.

A whale bought another 250 BTC, accumulating 6,530 BTC since March 21

According to Lookonchain monitoring, after the BTC price fell, a whale bought another 250 BTC (US$15.56 million).

Since March 21, the whale has accumulated 6,530 BTC (US$411 million) from Binance at an average price of US$62,952.

A whale deposited 757.7 BTC to Coinbase 3 hours ago, and will make a profit of 2.43 million US dollars if sold

According to The Data Nerd, 3 hours ago, a whale (address starting with 17Bu7) deposited 757.7 BTC (about 47.6 million US dollars) to Coinbase.

5 days ago, it accumulated these BTC at an average price of 59,600 US dollars. If it is sold at the current price, it will make a profit of 2.43 million US dollars.

Huang Licheng continued to buy 189,000 FRIEND 3 hours ago, with a total purchase of $6.1 million worth of FRIEND

According to Ember monitoring, Huang Licheng continued to use 157 ETH (470,000 US dollars) to buy 189,000 FRIEND 3 hours ago.

Since the launch of friend tech tokens on May 3, Maji has purchased a total of about 2.72 million FRIEND (6.1 million US dollars), with an average cost of about $2.32.

A certain address withdrew 112,000 PROMs from Binance in 18 hours and sold PROMs to DWF Labs

According to Spot On Chain monitoring, wallet 0x3a2 withdrew 112,000 PROMs (worth approximately $1.12 million) from Binance at an average price of $9.95 in the past 18 hours.

It is reported that the address sold 49,965 PROMs to Grachev for approximately $10 in February 2024.

Paidun: Poloniex hacker marked address transferred 600 ETH to Tornado Cash

According to Paidun monitoring, the address marked by the Poloniex hacker transferred 600 ETH (worth about 1.8 million US dollars) to Tornado Cash.

A new address has withdrawn more than 29,000 ETH from Coinbase since yesterday, about 88 million US dollars

According to Scopescan monitoring, a new address has withdrawn 29,098.8 ETH from Coinbase since yesterday, about 88 million US dollars.

Suspected Thug insiders earned about $1.49 million through the token in 10 hours

According to Lookonchain monitoring, insiders spent 1,500 SOL (about $225,000) to buy 674 million Thugs through 4 wallets in the same block, which is the block where token deployers add liquidity.

After that, the 674 million Thugs were distributed to multiple wallets, and 464 million Thugs were sold, earning 11,454 SOL (about $1.72 million).

Insiders earned 9,954 SOL (about $1.49 million) in just 10 hours. The remaining 210 million Thugs have been destroyed.

A Smart Money deposited 1,700 ETH (about $5.13 million) into Coinbase 3 hours ago

According to The Data Nerd, 3 hours ago, a Smart Money deposited 1,700 ETH (about $5.13 million) into Coinbase. 10 months ago, it accumulated 12,960 ETH at an average price of $1,870.

Fetch.ai Foundation associated wallet address deposited 1.47 million FET to Binance, about 3.59 million US dollars

According to Spot On Chain monitoring, in the past 13 hours, two wallet addresses received tokens from the Fetch.ai Foundation and deposited 1.47 million FET (about 3.59 million US dollars) to Binance.

A whale redeemed 3.5 million ENA from Pendle in the past 11 hours and then recharged it to Binance

According to @ai_9684xtpa, a whale named 0x07A redeemed 3.5 million ENA (worth $3.35 million) from Pendle in the past 11 hours, and then recharged it to Binance for suspected selling.

Currently, he still holds 180,000 ENA PTs due on August 29 and 400,000 YTs due on August 29.

Project Dynamics

Zeta Markets will airdrop 1% of the total supply of tokens to Jupiter and other Solana ecological projects

Zeta Markets announced the launch of the Zeta community airdrop on the X platform, allocating 1% of the total supply of Z tokens (10 million) to partner projects on Solana, including Jupiter, Pyth Network, deBridge, Mad Lads, Tensor, AssetDash and Superteam.

Previously, Zeta Markets announced on the X platform that it will launch its native token Z, which will be used for governance, staking and incentives. The total supply of Z is 1 billion, of which 10% will be used for airdrops to reward Zeta users and strategic communities on Solana, and 30% will be used for incentives.

Aevo opens Epoch 9, Epoch 8 rewards can be claimed on May 10

Aevo announced on the X platform that Epoch 9 has been opened. This week, 400,000 AEVO will be issued to active Aevo traders (including perpetual contracts and options), and 200,000 AEVO will be issued to AEVO stakers.

In addition, Epoch 8 rewards can be claimed on May 10.

The next upgrade of zkSync will be launched on May 13, and the upgraded features include P256Verify, Bridgehub, etc.

Ramon, head of product delivery at Matter Labs, said that the next upgrade of zkSync will be launched on May 13. New upgrade content and features include: P256Verify (this precompilation allows signature verification for the secp256r1 elliptic curve, and also adds ecAdd, ecMul and ecPairing precompilations); Bridgehub (the basic component that unlocks the interoperability of all ZK Stack chains); on the ZK Stack side, protocol work to support Validium, custom DA layers, and custom base tokens has also been completed, and with some upcoming server changes, these changes will be available for the ZK Stack chain; support for .transfer/.send calls without providing Gas (this can unlock ETH in some contracts that were deployed without following best code practices).

Jupiter founder: improving token search and core systems such as security and convenience

Jupiter founder meow posted on social media that he has been intensively making some more basic backend improvements to Jupiter to improve the core system. Expected improvements include (but not limited to):

1. Perps delay: how to reduce latency and improve uptime;

2. Token search: easily filter, search and sort (upcoming) millions of new tokens;

3. Routing: quickly integrate tokens and markets into Jupiter's routing engine and automatic slippage engine, while improving the problem of transient false routing;

4. Security and convenience: balance making transactions as safe as possible while maintaining as much convenience as possible.

BounceBit: Premium Yield Generation earnings accumulated before May 13 will be available for claiming on May 13

BounceBit officials said that Premium Yield Generation earnings accumulated before May 13 will be available for claiming on May 13.

Users can claim on BNB Smart Chain or Ethereum through the BounceBit portal. Approximately $8 million in earnings will be distributed in the form of BTCB/WBTC/FDUSD/USDT.

Vitalik Proposes EIP-3074 Alternative

Ethereum co-founder Vitalik Buterin proposed an alternative to EIP-3074 that adds a new transaction type, EIP-2930 tx, and also adds two new fields: the string "contract_code" and the signature, and converts the signing account (not necessarily the same as tx.origin) to a smart contract wallet. This appears to be compatible with any 3074 workflow, and converting a 3074 workflow requires very little work. EIP-3074 has the added advantage that it is very forward-compatible with the final account abstraction without overly preserving any of the fine-grained details of ERC-4337 or RIP-7560.

The contract code that users need to sign can actually be the existing ERC-4337 wallet code, and no opcodes need to be added, allowing EOA to temporarily convert itself into a contract included in the ERC-4337 bundle in a way that is compatible with existing EntryPoints.

CeFi News

FTX will conduct the third batch of locked SOL auctions on the 9th

According to The Block, FTX will conduct the third batch of locked SOL auctions on May 9. It is not clear how many tokens will be auctioned in this batch.

BlockBeats previously reported that on April 30, FTX's asset disposer was finalizing the second round of locked Solana (SOL) token auctions, with a transaction price of around $100.

Japanese crypto trading platform Coincheck will seek to list on Nasdaq through SPAC

Japanese crypto trading platform Coincheck will seek to list on Nasdaq through SPAC. Coincheck has submitted a proposal on the agreement to the U.S. Securities and Exchange Commission (SEC), marking an important step for the two companies and investors seeking exposure to the growing cryptocurrency industry. It is reported that the merged entity Coincheck Group N.V. is awaiting regulatory approval and shareholder consent.

Binance Contracts Adjusts 1000PEPE/USDT and Other U-Based Perpetual Contract Leverage and Margin Tiers

According to the official announcement, Binance Contracts has updated the U-Based Perpetual Contract Leverage and Margin Tiers of 1000PEPEUSDT, FETUSDT, GLMUSDT, OMNIUSDT, REZUSDT and TNSRUSDT at 14:00 (Eastern Time) on May 8, 2024. Users' current positions will not be affected.

Binance Contracts will delist IDEXUSDT, SLPUSDT, GLMRUSDT, MDTUSDT and AUDIOUSDT U-margined perpetual contracts and adjust leverage and margin tiers

According to the official announcement, Binance Contracts will automatically liquidate IDEXUSDT, SLPUSDT, GLMRUSDT U-margined perpetual contracts and MDTUSDT, AUDIOUSDT U-margined perpetual contracts at 17:00 (ET on May 15, 2024) and 17:00 (ET on May 16, 2024), and will delist the above-mentioned U-margined perpetual contract trading pairs after the liquidation is completed.

Binance Contracts will update the leverage and margin tiers of IDEXUSDT, SLPUSDT, MDTUSDT and AUDIOUSDT U-margined perpetual contracts at 18:30 (ET) on May 8, 2024.

Binance Leverage Platform will launch a limited-time discount on lending rates for USDC, BTC and other currencies

According to the official announcement, Binance Leverage Platform will launch new preferential lending rates for USDC, BTC, BOME, DOGE, ETH, ENA, FET, FLOKI, NEAR, REZ, RNDR, SOL, SHIB, PEPE, WLD, and WIF at 19:00 (Eastern Time Zone 8) on May 8.

The event period is from 19:00 on May 8 to 19:00 on May 20 (Eastern Time 8). Users who borrow any eligible cryptocurrency on Binance will automatically receive a one-hour interest reduction.

Binance will delist AAVE/BNB, SAND/ETH and other spot trading pairs on May 10

According to the official announcement, Binance will remove the following spot trading pairs and stop trading based on the recent review results:

May 10, 2024 11:00 (Eastern Time): AAVE/BNB, DEGO/BTC, LTC/TUSD, SAND/ETH

Viewpoint Data

10x Research: This round of cryptocurrency bull cycle may be shorter than previous ones

10x Research said on the X platform that the current cryptocurrency bull cycle may be shorter than previous cycles and is unlikely to climax in a broad altcoin rally. Despite the high daily trading volume of more than $100 billion and the rapid development and update of cryptocurrency projects, the industry's growth potential is still greatly limited.

On the other hand, real-time on-chain analysis keeps cryptocurrency traders engaged, which contrasts with traditional stock investors waiting for quarterly earnings. However, the challenges facing the cryptocurrency market may limit the breadth and duration of the bull market. In the next ten weeks, nearly $2 billion in token unlocking will continue, which may reduce the market price of altcoins.

Total transaction volume of 6 Bitcoin and Ethereum spot ETFs in Hong Kong reached HK$26.31 million today

The total transaction volume of the first batch of 6 Bitcoin and Ethereum spot ETF funds launched in Hong Kong today totaled approximately HK$26.31 million, including:

Huaxia Bitcoin ETF (3042.HK): HK$9.79 million;

Huaxia Ethereum ETF (3046.HK): HK$814,880;

Harvest Bitcoin Spot ETF (3439.HK): HK$2.49 million;

Harvest Ethereum Spot ETF (3179.HK): HK$8.94 million;

Bosera HashKey Bitcoin ETF (3008.HK): HK$3.68 million;

Bosera HashKey Ethereum ETF (3009.HK): HK$595,990.

Messari Fantom Q1 Report: Market value increased by 101% month-on-month, and DeFi TVL increased by 59% month-on-month

Messari recently released the Fantom 2024 Q1 status report. The key points are as follows:

-Fantom achieved month-on-month growth in multiple key indicators, including market value (+101%), average daily active addresses (+24%), USD-denominated DeFi TVL (+59%), stablecoin market value (+39%), and average daily DEX trading volume (+64%);

-The total FTM staked volume increased by 17% month-on-month to 1.3 billion, and the proportion of eligible supply staked volume also increased by 16% month-on-month to 2.16 billion. 44.6%;

- In March this year, Fantom's DEX monthly trading volume exceeded $1 billion for the first time in the past year, and the average daily trading volume of DEX in March was $37.9 million, nearly 7 times higher than February ($5.7 million) and 6 times higher than January ($6.6 million);

- On March 25, Michael Kong, CEO of the Fantom Foundation, announced the initial release plan of Sonic (planned to be released in Q3 of 24), which includes standardized bridges, simplified staking systems, builder grants, reward programs, standardized stablecoins, etc.

- The five winners of the Sonic Labs incubator project were selected in Q1. Each project will receive 200,000 FTMs and receive development support before the Sonic mainnet goes online.

Solana Ecosystem Meme Launch Platform Pump Single-Day Fees Exceed $750,000, Ranked Ninth in the Whole Network

According to Defillama data, Solana Ecosystem Meme Launch Platform Pump Single-Day Fees Exceed $750,000, Ranked Ninth in the Whole Network. The protocol has spent $11.05 million in the past 30 days, ranking 16th in the whole network.

Data: OpenSea's daily trading volume of Ethereum NFT is about 600 ETH, down more than 99% from its peak

Former Proof researcher punk9059 posted on social media that OpenSea's daily trading volume on the Ethereum NFT market is currently about 600 Ethereum, the lowest level since before the NFT bull market began in May 2021.

This figure is down 99.1% from its peak in May 2022, when OpenSea's daily trading volume reached 66,000 Ethereum.

Data: The number of clubs on friend.tech platform exceeds 150,000

According to Dune data, since the release of friend.tech V2, the number of clubs has reached 157,518, and the total transaction volume of Club Lifetime has reached 19,223,822 FRIEND.

"The Big Short" prototype: Cryptocurrency is one of the three great themes of this era

According to Bitcoin.com, Steve Eisman, the prototype of Mark Baum in the movie "The Big Short", said in an interview with Bloomberg TV, "There are three great themes of our era, namely artificial intelligence, everything related to infrastructure, and cryptocurrency. I believe in the first two, but I have reservations about the third."

Eisman raised the question of whether cryptocurrencies count as money. He noted that cryptocurrency proponents often highlight the shortcomings of fiat currencies and describe Bitcoin as "digital gold." "That's the argument," Eisman commented. He then observed that cryptocurrencies like Bitcoin "completely contradict their own arguments," adding that "it has a 75% correlation with the Nasdaq."

ARK Invest sold approximately $15.13 million of Coinbase shares yesterday

Cathie Wood's ARK Invest sold a total of 70,616 shares of Coinbase COIN on May 7, equivalent to approximately $15.13 million.

Financing Express

Web3 incubation service provider BlockBooster completed a $1.5 million seed round of financing, led by OKX Ventures

Web3 incubation service provider BlockBooster announced the completion of a $1.5 million seed round of financing, led by OKX Ventures, with participation from Conflux Network, Neighbor Capital Series, IceRiver Venture and Bitcoin Lab.

It is reported that Blockbooster is a venture capital studio focusing on Asia, dedicated to incubating and investing in high-quality projects in the infrastructure, social, and gaming sectors of the Web3 field, and organizing a series of activities around industry builders.

Web3 infrastructure startup Hemera completes $2.6 million seed round financing, led by LIF Capital

Web3 infrastructure startup Hemera announced the completion of a $2.6 million seed round of financing, led by LIF Capital and Nomad Capital, with participation from SNZ, Chainlink, Sending Labs, and ZetaChain founder and Microsoft senior vice president and artificial intelligence expert Harry Shum.

The company is reportedly building its decentralized protocol, which uses artificial intelligence to solve the on-chain data query problem that plagues the multi-chain ecosystem. Hemera also announced the launch of the public beta of the Hemera protocol after the completion of this round of financing to support developers in creating Web3 large-scale language model operating systems.

Telos received a $1 million strategic investment from Presto Labs to develop L2 powered by SNARKtor

According to chainwire, Telos announced that it has received a $1 million strategic investment from Presto Labs. The funds will be used for Telos to develop a SNARKtor-driven Ethereum Layer 2 zkEVM network, and will also help incubate the growth of SNARKtor Labs.

OKX Ventures announces investment in blockchain game Wild Forest

According to PRNewswire, OKX Ventures announced that it has invested in the Web3 free real-time strategy game Wild Forest.

Wild Forest has 18,300 daily active users, 61,900 monthly active users and more than 104,800 installations, and has previously been supported by Sky Mavis, Animoca Brands, Spartan Group and Kahuna.

Regulatory News

Hong Kong Securities and Futures Commission: The public should beware of Quantum AI's suspected fraudulent activities related to virtual assets

The Hong Kong Securities and Futures Commission issued an official announcement to warn the public to beware of Quantum AI's suspected fraudulent activities related to virtual assets.

It is reported that Quantum AI claims to use its related artificial intelligence technology to provide cryptocurrency trading services. The Securities and Futures Commission suspects that Quantum AI uses deep fake videos and photos made by artificial intelligence and impersonating Musk on its website and social media to deceive the public into thinking that Mr. Musk is the developer of Quantum AI's related technology.

The Hong Kong Police Force has taken action to block Quantum AI's website and remove related social media pages at the request of the SFC. Although the police have taken action, the public should be wary that scammers may continue to establish websites and social media pages with similar domain names.

Creditors are dissatisfied with the inclusion of the S&C exemption clause in the FTX debt repayment amendment

According to Cointelegraph, although FTX's newly revised proposal promises "billions of dollars in compensation", creditors are dissatisfied with specific clauses related to the Sullivan & Cromwell (S&C) law firm. FTX announced a new debt repayment amendment on the 7th, which includes an exemption clause. The exemption clause means that if damages are caused during the execution of bankruptcy proceedings, some parties can be exempted from liability.

FTX creditor Sunil said that in the case of FTX, S&C may have included clauses to exempt itself from any potential liability. Sunil is a member of FTX's largest creditor group, the FTX Customer Ad-Hoc Committee, which has more than 1,500 FTX creditors.

Earlier today, FTX and its affiliated debtors filed a revised reorganization plan and disclosure statement with the U.S. Bankruptcy Court in Delaware on Tuesday. The plan is expected to centrally distribute to customers and other creditors around the world almost all of FTX's assets at the time of bankruptcy in November 2022. FTX expects the total value of property collected, converted into cash and available for distribution to be between $14.5 billion and $16.3 billion.

FOX reporter: Grayscale has never submitted an S-1 application for its Ethereum futures ETF

FOX reporter Eleanor Terrett posted on the X platform that Grayscale has never submitted an S-1 application for its Ethereum futures ETF, so the application is incomplete. Before considering its spot application, the SEC may want to see if a completed futures application appears. It also stated that investor demand for existing Ethereum futures ETFs has been relatively sluggish since its launch last year.

Earlier today, Grayscale submitted a notice to the U.S. SEC on May 7 to withdraw its 19b-4 application for Ethereum futures ETF, with only three weeks left before the SEC was forced to make a decision on its application.

The U.S. SEC submitted a final response to the Ripple case, saying that Ripple tried to downplay its responsibility

The U.S. SEC submitted a final response to the Ripple case. In its response, the SEC believes that there should be no "broad uncertainty" about Ripple's legal status and maintains its original position on whether Ripple may take similar actions in the future, although Ripple has not violated any rules since the XRP lawsuit was launched in 2020.

The SEC said that Ripple tried to downplay its responsibility while emphasizing its cooperation initiatives with the SEC since the XRP IC0 in 2013. However, the SEC stressed that according to the law, even if Ripple has not committed any violations since 2020, it is expected that the next violation is still possible. (Cointelegraph)

Digitex founder Adam Todd admits to violating the US Bank Secrecy Act

According to Cointelegraph, Adam Todd, founder and former CEO of futures trading platform Digitex, admitted in a US federal court that he failed to establish an anti-money laundering program at the company.

According to the announcement of the South Florida Federal Attorney's Office on May 7, Adam Todd admitted to "intentionally causing" Digitex to violate the US Bank Secrecy Act. According to the indictment, Adam Todd operated an unregistered futures platform for U.S. customers between 2018 and 2022 and failed to implement and maintain anti-money laundering and know your customer (KYC) programs.

According to the South Florida Federal Attorney's Office, Adam Todd could face up to five years in prison and a $250,000 fine.

Hong Kong Bitcoin ETF's total subscription volume yesterday was 99.99 pieces, all from Bosera, and the three issuers showed intraday discount rates

According to SoSo Value data, the Hong Kong Bitcoin Spot ETF subscribed 99.99 bitcoins yesterday (May 7), with a total of 4,250 bitcoins held, a daily turnover of $6.58 million, and a total net asset of $270 million. The daily BTC subscription volume came from the Bosera HashKey Bitcoin ETF.

In addition, in terms of intraday discount and premium, Huaxia Bitcoin ETF, Bosera HashKey Bitcoin ETF and Harvest Bitcoin ETF showed intraday discount rates of -0.5%, -0.25% and -0.37% respectively. As of May 7, Huaxia Bitcoin ETF holds 2,020 bitcoins with a total net asset value of $128 million, ranking first; followed by Boshi HashKey Bitcoin ETF, which holds 1,120 bitcoins with a total net asset value of $71.37 million; and Harvest Bitcoin ETF, which holds 1,120 bitcoins with a total net asset value of $70.56 million.

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