Article reprinted from: PA Daily
Today's news tips:
1. Coinbase files interlocutory appeal against US SEC lawsuit
2. Sui mainnet has been upgraded to version V1.22.0
3.Tensor: An additional 2.3% of TNSR tokens will be airdropped to approximately 2,900 top users
4. In the past 24 hours, the total network contract liquidation was US$880 million, of which long orders were liquidated for US$785 million
5. FTX/Alameda liquidation address deposited 2,500 ETH into Coinbase before the drop
6.4 whales/institutions sold more than 31,000 ETH during the market decline, about $106 million
7. Bitcoin spot ETF had a total net outflow of US$55.07 million yesterday, and Grayscale GBTC had a net outflow of US$166 million in a single day
Regulatory News
Coinbase files interlocutory appeal in US SEC lawsuit
Coinbase has filed an interlocutory appeal against the judge's decision last month in the U.S. SEC lawsuit, arguing that there are good reasons for the disagreement, according to a person familiar with the matter. In its motion, Coinbase will appeal whether the SEC has the authority to treat digital asset transactions as investment contracts. It is reported that the interlocutory appeal is unlikely to be approved. Last year, the SEC attempted to file an interlocutory appeal against Ripple, but it was ultimately dismissed. Next, the case will go to trial and will be presented to a jury, but this process may not begin until 2025. The SEC and Coinbase must also submit a proposed case management plan by April 19. Coinbase was sued by the SEC last year for allegedly acting as an unregistered exchange, broker and clearing agency. The SEC also questioned Coinbase's pledge and wallet services.
ZigZag to shut down business this week due to regulatory pressure
According to official news, ZigZag, a decentralized exchange based on zkSync Lite, announced that it will shut down its business this week due to US regulatory pressure. The team re-released the code in less than a week.
Project News
EigenLayer: Will remove deposit limits for all LST tokens and open deposits on April 17
According to official news, Ethereum re-staking protocol EigenLayer announced that it will cancel the deposit limits of all liquidity staking tokens (LST) at 0:00 Beijing time on April 17 and reopen the deposit window.
Sui mainnet has been upgraded to version V1.22.0
Sui mainnet has been upgraded to version V1.22.0, and Sui protocol has been upgraded to version 42. Other upgrade highlights are as follows:
Provided more precise rounding calculations in the Deepbook accessor function (read-only), which returns Level 2 order book data within a price range.
Added support for serialize-signed-transaction and serialize-unsigned-transaction flags that output transaction bytes instead of transactions for executing sui-client-ptb commands.
Fixed a bug in which the sui-client-verify-bytecode-meter incorrectly returned the tick used by the last function to be verified as the tick used by the last module verified.
Added a --module/-m flag to sui-client-bytecode-verify-meter, to verify some module bytecode etc.
Web3 social platform beoble joins Wormhole ecosystem
Web3 social platform beoble said on X Platform that it will join the Wormhole ecosystem. More details will be announced in a few days.
BingX, a cryptocurrency exchange, now supports Iranian users
Crypto exchange BingX has allowed Iranian users to register. The exchange publicly displayed an Iranian version of its website, and officials of the exchange issued a statement in Persian in the official Telegram group, saying that the BingX exchange can accept Iranian users and can even use the Iranian national card for identity verification. The exchange also allows the exchange of Iranian rials for USDT, which is prohibited according to the regulations of the U.S. Treasury Department's Office of Foreign Assets Control (OFAC). In another post on the official BingX Discord, a user asked "if there are any restrictions on registering from Iran", and a BingX representative replied, "It should be fine. Just follow the instructions when you sign up."
Ordinals Developer: No pre-sale and no team allocation for Runestone
Ordinals developer Leonidas tweeted that Runestone has no pre-sale, no team allocation, the algorithm does not favor large users, it is 100% volunteer initiative, and it was distributed free of charge to 112,384 addresses.
Tensor: An additional 2.3% of TNSR tokens will be airdropped to approximately 2,900 top users
Tensor, the NFT exchange of Solana Ecosystem, announced that it has realized that the original airdrop plan failed to fully reward top users, so it decided to provide 2.3% of the total supply of TNSR to about 2,900 top users as airdrop rewards. This additional airdrop will have a 6-month lock-up period and will be fully unlocked within 2 years.
Parcl: The first distribution of PRCL will be carried out next week, and the second community distribution of permanent points is planned in the second quarter.
Parcl, the decentralized real estate market of Solana ecosystem, tweeted that the calculation of the permanent points of Parcl's ecological incentive plan has started, but it has not yet been reflected in the new ranking. The permanent points ranking will be launched after the first PRCL distribution next week. The permanent points will be distributed in the second community share of PRCL in the second quarter of 2024, which will be the largest distribution in the permanent points plan.
Important data
In the past 24 hours, the total network contract liquidation was US$880 million, of which long orders were liquidated for US$785 million
According to Coinglass data, in the past 24 hours, the cryptocurrency market has seen a total of $880 million in liquidation contracts, with a total of 279,577 people being liquidated, including $785 million in long orders and $94.8016 million in short orders. The total amount of BTC liquidation is about $168 million, and the total amount of ETH liquidation is $125 million.
Bitcoin spot ETF had a total net outflow of US$55.07 million yesterday, and Grayscale GBTC had a net outflow of US$166 million in a single day
SoSoValue data shows that yesterday (April 12, Eastern Time), the total net outflow of Bitcoin spot ETFs was 55.07 million US dollars. Yesterday, Grayscale ETF GBTC had a net outflow of 166 million US dollars in a single day, and the current historical net outflow of GBTC is 16.27 billion US dollars. The Bitcoin spot ETF with the largest net inflow in a single day yesterday was BlackRock ETF IBIT, with a net inflow of about 111 million US dollars in a single day. As of now, the total net asset value of Bitcoin spot ETFs is 56.22 billion US dollars, and the ETF net asset ratio (market value to the total market value of Bitcoin) is 4.26%, and the historical cumulative net inflow has reached 12.53 billion US dollars.
FTX/Alameda liquidation address deposited 2,500 ETH into Coinbase before the drop
According to Spot on Chain monitoring, the FTX/Alameda liquidation address deposited 2,500 ETH (about $8.56 million) into Coinbase 8 hours ago. Since March 1, FTX and Alameda have deposited 15,850 ETH (about $58 million) into CEX at an average price of about $3,659, followed by drastic price changes.
4 whales/institutions sold more than 31,000 ETH during the market decline, about $106 million
According to Lookonchain monitoring, 4 whales/institutions sold 31,683 ETH (about US$106 million) during the market decline.
Cumberland deposited 17,206 ETH ($57.3 million) into exchanges
Address 0xC3f8 deposited 7,976 ETH ($26.6 million) to Binance
Address 0x1717 deposited 4,000 ETH ($13.32 million) to the exchange
Alameda/FTX deposits 2,500 ETH ($8.33 million) to Binance
A whale/institution transferred 37,018 ETH from Binance in the past hour, worth $121 million
According to on-chain analyst @ai_9684xtpa, in the past hour or so, the whale/institution 0x435...Ef7cB transferred 37,018 ETH from Binance, worth $121 million. This new address has accumulated 62,140 ETH in the past five days, with a total value of $208 million, an average transfer price of 3,355, and a current floating loss of $5.28 million.
Wintermute transferred $108 million worth of 18 tokens to multiple CEXs in the past two hours
According to the monitoring of on-chain analyst Ember, Wintermute has intensively transferred 18 tokens worth $108 million to exchanges such as Binance/Coinbase/Bybit/Kraken/OKX in the past two hours. The amount of tokens is quite neat, which is different from the usual amount of round numbers when Wintermute makes market transfers in various CEXs.
5 whale addresses withdrew more than 10 million ENA from CEX in the past day and deposited them into Ethena Labs for staking
According to The Data Nerd, in the past 24 hours, 5 whale addresses have withdrawn more than 10 million ENA from CEX and deposited them into Ethena Labs for staking. Specifically:
The address at the beginning of 0x536 withdrew 1.5 million ENA (worth about 1.78 million US dollars);
The address at the beginning of 0xbB2 withdrew 1.49 million ENA (worth about 1.87 million US dollars);
The address at the beginning of 0x7f2 withdraws 800,000 ENA (worth about 1 million US dollars);
The address at the beginning of 0x656 withdrew 1.18 million ENA (worth about 1.65 million US dollars);
The address at the beginning 0x886 withdrew 5.58 million ENA (worth about 8.14 million US dollars).
A trader's 3x leveraged PEPE long position was liquidated due to the market crash, resulting in a loss of more than $1 million
Crypto trader Crypto Nerd claimed on the X platform that due to the plunge in the crypto market, his long position with 3x leverage on PEPE was liquidated, and he lost more than $1 million overnight.
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