Featured News:
1. DWF Labs applied to join the Klaytn Governance Committee and plans to purchase 5 million KLAY;
2. Particle Network’s first Launchpad will launch Merlin Chain (MERL);
3. Dymension: Mainnet is about to be launched, DYM tokens will be allocated to the provided address without the need to claim them;
4. Binance co-founder He Yi responded to the "RONIN listing information leak incident" and announced six major adjustment measures;
5. U.S. Treasury Secretary Yellen warned about the risks of cryptocurrencies and suggested that Congress should legislate to regulate the spot market of stablecoins and non-securities crypto assets;
Price Watch
LINK rose more than 8% in 24 hours and is currently trading at $19.56
On February 5, according to market data, LINK broke through $19 and is currently priced at $19.56, with a 24-hour increase of 8.16%.
WHALES breaks through $2, up 4.85% in 24 hours
On February 5, according to market data, the decentralized over-the-counter trading platform Whales Market's token WHALES broke through $2 and is currently quoted at $2.089, a 24-hour increase of 4.85%.
Transaction Tracking
DWF Labs applies to join Klaytn Governance Committee and plans to purchase 5 million KLAY
On February 6, according to the Klaytn Governance Forum, DWF Labs applied to join the Klaytn Governance Committee to provide support for the Klaytn ecosystem and promote business expansion within the Klaytn ecosystem.
DWF Labs commits to independently purchase 5 million KLAY from the market or the foundation.
czsamsunsb.eth Withdrew more than 12,000 ETH from Lido in the past 3 hours and deposited them into Binance
On February 5, according to on-chain data, in the past 3 hours, czsamsunsb.eth withdrew 12,186 ETH from Lido and deposited 12,181.4 ETH (about 28.28 million US dollars) into Binance.
Grayscale holdings began transferring BTC to Coinbase Prime 6 minutes ago
On February 5, according to on-chain data, the Grayscale holding address began transferring BTC to Coinbase Prime 6 minutes ago, and the transfer is currently ongoing.
Data: 773 BTC transferred from Antpool to Binance, about 33.35 million US dollars
On February 5, according to Whale Alert monitoring, at 19:45 Beijing time, 773 BTC (about 33.35 million US dollars) were transferred from Antpool to Binance.
Coinbase protocol manager has made more than 30 times profit after purchasing Farcaster ecosystem meme coin TYBG
On February 5, according to on-chain data, Coinbase protocol director Jesse Pollak (jesse.xyz) spent 0.25 ETH (about US$577 at the time) on January 24 to purchase more than 213 million Farcaster ecosystem meme project Base God tokens TYBG and has held them ever since. The current value of the holding is approximately US$19,486.
According to the Jesse Pollak X (formerly Twitter) account, he first interacted with the Base God project on January 25 and has interacted more than 10 times since then.
Project News
Deez Nuts launches custom RPC functionality
On February 6, Deez Nuts stated on social platforms that users can use custom RPC URLs when website traffic is busy.
TreasureDAO releases Treasure Chain Litepaper and plans to launch the mainnet in Q3 this year
On February 6, TreasureDAO announced on social media that it had officially released Treasure Chain Litepaper. Treasure Chain will improve the platform experience through game-specific Rollups settled on the Treasure L2 chain, and MAGIC will serve as the main token on the platform.
The development and rollout of Treasure Chain will be conducted through parallel initiatives to coordinate ahead of the targeted mainnet launch in Q3 2024. Steps are being taken to rapidly implement and deploy a testnet in Q1 2024 to familiarize early adopters and allow sufficient time for network hardening.
Taproot Wizards' Bitcoin NFT project "Quantum Cats" has sold out, with total revenue approaching $13 million
On February 6, CoinDesk reported that although the Bitcoin NFT project "Quantum Cats" launched by Taproot Wizards had its minting plan postponed three times due to technical problems, as of the end of public minting on Monday, all 3,000 "Quantum Cats" collectibles in the series were sold at a fixed price of 0.1 BTC (about US$4,265) each, with total revenue of nearly US$13 million.
EigenLayer has reopened the re-staking window
On February 6, Ethereum’s re-staking protocol EigenLayer announced that it had reopened the re-staking window, adding new LST sfrxETH, mETH, and LsETH, with no upper limit for any LST. All deposits will be suspended again after 4 a.m. on February 10.
Horizen Mainchain to Permanently Disable Shielded Pools on February 7
On February 5, according to Chainwire, Horizen announced that it will permanently disable the shielded pool after performing a network upgrade on the main chain through a hard fork at block height 1502800 at 20:00 on February 7. Users are advised to move funds out of the shielded pool before then. Sphere by Horizen or zen-cli can be used to transfer funds to their own transparent addresses. After February 7, it will no longer be possible to transfer funds in the shielded pool to any other address.
Euclid Finance is now live and has launched the Euclid LRT Championship
On February 5, according to official news, Euclid Finance has officially launched and launched the Euclid LRT Tournament. Participating in the Euclid LRT Tournament can obtain enhanced E-Points in exchange for IDO whitelist and airdrop qualifications.
Tournament 1: Referral Roulette, increase the participant's E-point base by inviting members. The more referrals a participant brings, the greater the participant's E-points base.
Tournament 2: vlEQB and ePendle (@Equilibriafi) compete, the more you hold, the higher the boost participants will receive.
Tournament 3: Guild Wars, join a guild of the participant's choice and enjoy the benefits of enhanced effects from the guild ranking. Compete with other guilds and win rewards.
Taraxa Protocol Foundation Launches $10 Million Ecosystem Growth Grant Program
On February 5, Cointelegraph reported that the Taraxa Protocol Foundation has launched a $10 million grant program to promote the growth of Taraxa's unique EVM-compatible blockDAG Layer-1 ecosystem.
Gitcoin announces strategic shift to focus on funding the Ethereum ecosystem
On February 5, Gitcoin announced a strategic adjustment that will no longer focus on public product funding in the future, but instead shift to strengthening the grant infrastructure of the Ethereum ecosystem, including internal structural adjustments to form two business units: one focused on coordinating product work and the other handling community and governance affairs.
In addition, according to Blockworks, Gitcoin Executive Director Kyle Weiss said that it will transition from a decentralized workflow to a structure closer to "Labs" to ensure stability in software development, while concentrating community power through token voting to achieve results in grant programs, while Gitcoin DAO will focus more on the leadership and decision-making power of the software team in order to better achieve the goals of the grant project.
dYdX releases 2024 roadmap: focusing on permissionless markets, core trading, and user experience
On February 5, decentralized derivatives trading platform dYdX released its 2024 roadmap, stating that it will focus on three main areas: permission-free markets, core trading optimization, and user experience/entry upgrades.
Dymension: Mainnet is about to launch, DYM tokens do not need to be claimed and will be allocated to the provided address
On February 5, Dymension, the modular settlement layer of the Cosmos ecosystem, officially announced that the mainnet will be launched soon, and DYM tokens will be allocated to the Genesis Rolldrop address provided by users on the Dymension blockchain without the need to claim them.
JamFrens announces free NFT minting for Degen users
On February 5, the Farcaster ecosystem project JamFrens officially announced that it will launch a free NFT minting event for Degen users, and more details will be announced soon.
Particle Network's first Launchpad will be launched on Merlin Chain (MERL)
On February 5, Web3 infrastructure Particle Network announced the launch of its first Launchpad project, the Bitcoin Layer 2 network Merlin Chain. The token is MERL, which was listed at a fully diluted valuation (FDV) of $100,000. Launchpad accounts for 1% (21,000,000 MERL).
NAVI Protocol’s IDO on Cetus has achieved 30x oversubscription
On February 5, according to official website data, after the IDO of NAVI Protocol, the native one-stop liquidity protocol on Sui, was carried out on the Cetus platform, it has achieved 30 times oversubscription within a few hours. This round of IDO will end at 20:00 on February 7, Beijing time. In addition, NAVI Protocol TVL has reached 160 million US dollars, and the number of user addresses has exceeded 800,000, both of which are record highs.
Manta Network’s second largest lending project Shoebill Finance announces airdrop and token details
On February 5, the lending project Shoebill Finance announced the airdrop details and some token information, and will airdrop 500,000 SBL to MANTA holders three months after TGE. In addition, current users supply, lend, repay, and withdraw STONE, wUSDM, ETH, and USDC assets within the protocol, participate in pre-mining, and obtain SBP (ShoeBill Point). SBP can be directly exchanged for SBL and MANTA airdrops at the end of the event, which is expected to end on April 19. Data shows that Shoebill Finance is the second largest lending protocol in the Manta Network ecosystem, with a TVL that once exceeded US$190 million.
CeFi News
Coinbase will list Aerodrome Finance (AERO) and Velodrome Finance (VELO)
On February 6, according to official news, Coinbase will add support for Aerodrome Finance (AERO) on the Base network (ERC-20 token) and support for Velodrome Finance (VELO) on the Optimism network (ERC-20 token).
If liquidity conditions are met, trading will begin on or after 9:00 AM Pacific Time on February 6, 2024. Trading in AERO-USD and VELO-USD will be launched in phases once sufficient supply of the assets is available.
Coinbase Adds Helium Mobile (MOBILE) to its Listing Roadmap
On February 6, according to an official announcement, Coinbase included Helium Mobile (MOBILE) in its asset listing roadmap.
Binance Financial Management, Flash Exchange, Leverage, and Contracts Launch Ronin (RONIN)
On February 5, according to the official announcement, Binance’s financial management and flash exchange trading platforms have launched the new asset Ronin (RONIN). Binance will launch RONIN on the leverage, contract, and fixed investment platforms at 23:00 (GMT+8) on February 5, 2024, 12:30 (GMT+8) on February 6, 2024, and 08:00 (GMT+8) on February 8, 2024.
Binance will launch RONIN 1-50x U-based perpetual contracts at 12:30 on February 6, 2024 (ET8).
OKX will delist leveraged and perpetual contracts for WSM pairs on February 22
On February 5, according to the official announcement, OKX will delist the leverage and perpetual contracts of WSM currency pairs from 4:00-5:00 pm (UTC+8) on February 22.
Viewpoint Data
Data: EigenLayer TVL exceeds 1.5 million ETH
On February 6, according to the official website of Ethereum re-staking protocol EigenLayer, EigenLayer TVL reached 1.5026 million ETH, worth approximately US$3.455 billion.
BitMEX Research: GBTC outflows $108 million on the 17th trading day
On February 6, BitMEX Research released Bitcoin spot ETF trading data on the social platform, showing that GBTC had an outflow of US$108 million on the 17th trading day.
Bitcoin staking chain BounceBit TVL exceeds $94 million
On February 6, according to official website data, the TVL of Bitcoin staking chain BounceBit has reached US$94.51 million.
10X Research founder: Bitcoin is expected to reach $70,000 by the end of this year
On February 6, CoinDesk reported that Markus Thielen, founder of 10x Research, said that Bitcoin (BTC) is expected to rise by about 65% from its current level to $70,000 by the end of the year. Thielen wrote in a report last Friday: "Supported by the macro environment, monetary policy tailwinds, the US election cycle, and the increasing demand for TradFi investors to allocate Bitcoin ETFs, a rebound in Bitcoin to $70,000 seems possible." Thielen pointed out that although Bitcoin has risen in 10 of its 13 years of existence, the returns in January have been more mixed, with only 7 years of rise and 6 years of fall.
Thielen said in a report on Friday that "while the Fed has delayed the first rate cut to (probably) May or June, inflation is falling and economic growth is holding up." He also noted that the U.S. presidential election cycle coincides with the year of Bitcoin halving, which is historically bullish for Bitcoin prices. Specifically, Bitcoin rose 152% in 2012, 121% in 2016, and 302% in 2020, with an average increase of 192%.
Cathie Wood: Bitcoin is replacing gold as a store of value asset
On February 6, Ark Invest CEO Cathie Wood said that Bitcoin is actually replacing gold as a store of value asset, and BTC is more of a safe-haven asset and an asset that investors "pursue quality assets" in times of economic uncertainty.
Cathie Wood also shared a chart of Bitcoin priced in gold, which shows a strong long-term upward trend for BTC. Cathie Wood said this reflects that Bitcoin is now partially replacing gold. And said: "This chart just shows you that Bitcoin is rising even relative to gold. Now Bitcoin has a substitute, and we think this will continue because there is a simpler and less frictional way to access Bitcoin (spot ETF)."
Binance co-founder He Yi responded to the "RONIN listing information leak incident" and announced six major adjustment measures
On February 6, Binance co-founder He Yi said that in the past, there were occasionally heated discussions about the leakage of Binance's coin listing information, usually for projects that have not yet released tokens. It is not uncommon for the community to over-promote in order to maintain the popularity; but today, after the announcement of RONIN's coin listing, the price drop of RONIN triggered heated discussions in the community. After internal investigation, it was found that the public chain was previously integrated to retrieve tokens for users, and the on-chain collection was detected by external parties. The community began to discuss Binance's listing of RONIN. After careful consideration, the following adjustments will be made on the existing basis of coin listing:
1) Binance’s internal adjustments: The coin listing team involves multiple links, including business, research teams, Pre IC, IC, development, operations, announcements, etc. Team members involved in the coin listing process will strengthen internal management and fire prevention isolation; if information leakage occurs in the management project for any reason, the first warning will be given and the second will be dismissed.
2) Adjustment of Binance’s external partners: Business communication with the outside often involves the improvement of project research information, communication of token models, token custody management and communication with project investors, and further improves the process. If the project listing information is leaked, the listing will be cancelled. If information leakage is found after the announcement, the listing will be extended directly, and the listing will be decided based on subsequent adjustments.
3) We will further improve technical monitoring. At present, we do not rule out the possibility that Binance's trading pairs and announcements are monitored by scripts. Although the content is encrypted, the added actions are monitored, so the BNB price fluctuates from time to time, and everyone will speculate that Binance will usher in a launchpool. If you have any clues, please contact us to submit information.
4) Binance wanted to separate coin listing research from business in the past, so it did not disclose contact information, which gave many opportunities for fraud. Therefore, it made the application link public.
5) High bounty. We welcome all reports of any corruption related to coin listings and other corruption. If you verify that Binance team members are corrupt, we will keep your identity confidential and provide you with a security vulnerability bounty ranging from US$10,000 to US$5 million.
6) For verified corrupt employees, if they join any project or fund after being fired, the corresponding project or fund will become a permanent blacklist for Binance listing. All major funds are welcome to contact Binance for background checks before making an offer.
Finally, He Yi said that Binance’s past achievements were due to the establishment of a fair, transparent and efficient platform.
Farcaster Co-founder: Focus on user growth, so the registration process cannot use cryptocurrency and is designed like Web2
On February 6, Dan Romero, co-founder of the decentralized social protocol Farcaster, posted on social media to explain why users cannot use cryptocurrency to register Farcaster. He said, "Farcaster is focused on user growth. To achieve this goal, it designed the registration process to be as much like Web2 as possible - mobile first, no wallet, no cryptocurrency required."
Furthermore, Romero said that if users think this is silly or "anti-cryptocurrency," they are free to build a web-only Farcaster client and use cryptocurrency for payments. No Warpcast required. That's the beauty of a permissionless and decentralized system - the potential for true client competition.
Ronin Co-founder: Binance uses the full name "RONIN" to show respect and avoid duplication with the fiat currency RON
On February 5, Jihoz.ron, co-founder of Axie Infinity and Ronin, posted on social media, “Some people have been asking why Binance uses RONIN instead of RON as the name of its project token. First, there is already a Romanian currency listed as RON. Second, Binance is more respectful to call it by the full name of Ronin.”
Solana Mobile Chapter 2 Pre-orders Exceed 60,000
On February 5, The Block reported that the pre-order volume for Solana Mobile’s second-generation mobile phone has exceeded 60,000.
CoinGecko Research Report: TrueUSD (TUSD) is strictly pegged to the US dollar, and its circulation volume increased by more than 400% last year
On February 5, according to the latest research report released by CoinGecko, TrueUSD (TUSD) is the first stablecoin anchored to the US dollar and verified on the chain in real time by an independent institution. TUSD has performed well in the past few months, and its circulation has increased by more than 400% in 2023. It has also achieved integration with multiple protocols, blockchain networks, and financial institutions, and has become a payment method for mainstream enterprises. As the fourth largest stablecoin, TUSD has a stablecoin issuance valued at more than US$3.3 billion, second only to USDT, USDC, and DAI.
In order to ensure transparency and take full responsibility for coin holders, TUSD has partnered with Chainlink to advance its reserve proof project. TUSD said it is using Chainlink's real-time decentralized data management technology to develop a reserve proof (PoR) mechanism to update reserve data in real time, enabling users to verify the status of fiat currency reserves.
Currently, many trading platforms are integrating TUSD. On trading platforms that support TUSD, users can top up TUSD and trade supported TUSD trading pairs. Mainstream trading platforms such as Binance, OKX, and HTX already support TUSD trading.
Data: Blast TVL exceeds $1.4 billion
On February 5, according to DeBank data, the Layer 2 network Blast contract address launched by Blur founder Pacman held assets with a total value of over US$1.4 billion, of which approximately US$1.26 billion worth of ETH was deposited in the Lido protocol and over 139 million DAI was deposited in the Maker protocol.
Binance's new CEO: Since the birth of cryptocurrency, holders have benefited from two key qualities: faith and patience
On February 5, Binance's new CEO Richard Teng said on social media that since the birth of cryptocurrency, holders have benefited from two key qualities: faith and patience.
CoinShares: Over $700 million flowed into digital asset investment products last week
On February 5, according to the latest weekly report released by CoinShares, the total inflow of funds into digital asset investment products last week reached US$708 million, bringing the year-to-date inflow to US$1.6 billion and the total global assets under management to US$53 billion.
Bitcoin inflows totaled $703 million last week, accounting for 99% of total inflows. Short Bitcoin funds saw small outflows, totaling $5.3 million. Solana saw $13 million in inflows last week, surpassing Ethereum and Avalanche, which saw outflows of $6.4 million and $1.3 million, respectively, last week.
Financing Express
Crypto payment app Oobit completes $25 million Series A funding round led by Tether and others
On February 5, CoinDesk reported that the encrypted payment application Oobit completed a US$25 million Series A financing round, led by Tether’s investment department, CMCC Global’s Titan Fund, 468 Capital and Solana co-founder Anatoly Yakovenko.
It is reported that consumers can use cryptocurrencies to make purchases through the Oobit application, while merchants receive fiat currency. Users can pay with funds in their Oobit wallets at any point of sale that accepts Visa (V) or MasterCard (MA).
Berachain Ecosystem DEX Kodiak Completes $2 Million Seed Round Financing, Shima Capital and Others Participate
On February 5, according to chainwire, Berachain ecosystem DEX protocol Kodiak Finance completed a US$2 million seed round of financing, with participation from Build-a-Bera, Amber Group, Shima Capital, No Limit Holdings, Ouroboros Capital, Baboon VC, dao5, ODA Capital, Kenetic, Dewhales Capital, Tenzor Capital, Lotus Capital, Owl Ventures, nonce Classic, 3Commas Capital, Wizards Capital, Credo, Blocmates, DoraHacks, Moni and others.
It is reported that Kodiak is a decentralized trading protocol on Berachain that combines centralized liquidity and automatic liquidity management.
L1 Blockchain Nibiru Chain Completes $12 Million in Financing, Kraken Ventures and Others Participate
On February 5, according to chainwire, L1 blockchain Nibiru Chain completed US$12 million in financing, with Kraken Ventures, ArkStream, NGC Ventures, Master Ventures, Tribe Capital and Banter Capital participating.
Regulatory News
U.S. Treasury Secretary Yellen warns of risks related to cryptocurrencies and suggests that Congress should legislate to regulate the spot market for stablecoins and non-securities crypto assets
On February 6, CoinDesk reported that U.S. Treasury Secretary Janet Yellen warned of the risks of cryptocurrencies when explaining the latest work of the Financial Stability Oversight Council (FSOC) at the U.S. House of Representatives Financial Services Committee. She said that the crypto industry poses a variety of potential hazards to the financial system, including the dangers of stablecoins, runs on crypto platforms, and price fluctuations.
And said it will continue to work with Congress on crypto legislation, "applicable rules and regulations should be enforced, and Congress should pass legislation to regulate the spot markets for stablecoins and non-securities crypto assets."
Fox reporter: NYDFS is "very close" to approving WisdomTree to conduct digital asset business in New York State
On February 6, Fox reporter Eleanor Terrett posted on social media that ETF issuer WisdomTree is working closely with the New York State Department of Financial Services (NYDFS) to provide crypto-related products and services to New York customers. Sources said that NYDFS is "very close" to approving WisdomTree's Limited Purpose Trust Charter, which means the company will be able to conduct digital asset business in New York State.
Only nine companies currently have New York State cryptocurrency limited purpose trust licenses, including Coinbase and Fidelity’s Fidelity Digital Assets.
Multicoin Capital in talks to sell FTX bankruptcy claim worth around $100 million
On February 6, CoinDesk reported that according to people familiar with the matter, cryptocurrency investment company Multicoin Capital is discussing the sale of its FTX bankruptcy claim, which is worth approximately US$100 million.
Positive news regarding FTX bankruptcy claims has pushed the claim price above 70 cents per dollar and gradually rising to around 80 cents.
Companies like Multicoin, which were inadvertently affected by FTX’s bankruptcy, have been approached by claim buyers for over a year, and as potential bids rise, these companies are evaluating the opportunity cost of capital and choosing to sell sooner rather than wait.
Fox reporter: US SEC wins mandatory motion to force Ripple to submit its financial reports, etc.
On February 6, Fox reporter Eleanor Terrett posted on social media that the U.S. Securities and Exchange Commission (SEC) won a motion to force Ripple to submit its 2022-2023 financial statements, the regulator’s post-complaint contract for the sale of XRP, and questions about the amount of XRP institutional sales revenue it received.
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