Gamified on-chain trading platform Spotlight has announced the completion of a $2 million financing round with participation from Folius Ventures. Spotlight focuses on discovering and planning high-quality DeFi projects, guiding users to identify promising DeFi opportunities through expert analysis and insights. In addition, its trading platform, Spotlight Market, uses gamification to attract users and increase the liquidity of on-chain and off-chain assets.
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Backpack has now launched TNSR spot trading, in addition, the TNSR token airdrop application checker has been launched on Backpack Wallet.
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Binance has launched TNSR trading, with a short-term high of $2.68 and currently trading at $BTC #SecureChainAI

According to Coingecko data, the market value of BCH has risen to the range of $12.5 billion, currently reaching $12,491,359,675, hitting a new high since November 2021. The current BCH price is $631.67, with a 30.1% increase in the past 7 days. According to BTC.com data, there are less than 10 hours left until the BCH halving.
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According to Andre Cronje's article on X platform regarding a new trading mechanism in the cryptocurrency industry, a new infrastructure is currently gaining a lot of attention and is being integrated into what he believes is a low-risk protocol. However, based on his (possibly incorrect) understanding, this new protocol carries a very high risk.
He discusses the components of this mechanism in detail, including the characteristics of perpetual contracts such as the ability to trade without holding the trading asset, both buyer and seller paying a "funding rate," and using stETH as collateral. He attempts to achieve "neutrality" by opening relative positions while benefiting from stETH returns and funding rates.
Cronje states that he is not a trader and acknowledges that this is not his area of expertise. However, he tries to compare these financial tools with the most basic financial concepts he knows, such as collateral and debt, and points out the risk of eventually having to close positions or face liquidation.
He raises a question about the theory of "positions being closed when the market reverses," which is similar to the saying "buy when BTC rises and sell when it falls," which sounds obvious but is almost impossible to achieve in practice. Therefore, although everything is going smoothly now (because the market is positive and the short funding rate is positive (because everyone is willing to go long)), the situation will eventually change, and the funding (rate) will become negative, collateral will be liquidated, and you will have an unsupported asset.
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The use of explicit leverage by some investors has led to an increase in risky securities, similar to the pre-global financial crisis period. This could result in another deleveraging-driven meltdown, with explicit and implicit leveraged positions in stocks like NVDA being particularly vulnerable. Leveraged single stock ETFs, such as NVDL, have been criticized for potentially violating the spirit of ETFs, and despite their legal status, they pose a risk to the market due to their high volatility and potential for systemic risk. Investors are advised to consider hedging against a potential shock by building protection into their portfolios.
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According to on-chain analyst @ai_9684xtpa, Amber Group may also be a market maker for ENA. The market-making address 0x38e...20a4b received 12.98 million ENA tokens 14 hours ago and has distributed them to exchanges in the past three hours, with the HTX recharge address belonging to Amber. ENA may have three market makers working together, as follows:
·GSR Markets: 37.5 million tokens;
·Wintermute: 15 million tokens;
·Amber Group: 12.98 million tokens.
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Floki revealed in the latest AMA that it will consider canceling the 0.3% contract fee, but specific evaluations are needed, including: 1. Check the data to evaluate whether canceling the contract fee will have any meaningful impact; 2. Discuss within the core team whether canceling the contract fee is beneficial; 3. Submit a proposal to and vote on it with Floki DAO, and ultimately make a decision by Floki DAO.
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