AB Kuai Dong

Various places are accelerating the launch of new coins, and the opening market value is getting lower and lower. From two in January, one a week, it has changed to multiple a week. Based on the historical frequent IPOs in the neighboring Hong Kong stocks and A-shares, it is highly likely that the market will...

The sixth phase of Binance Wallet IDO is here, and it seems that the frequency of new products is gradually accelerating. Currently, 60% of the projects have been launched on the Binance main site after the IDO.

Yesterday's Hype incident proved that this wave of on-chain derivatives is hot, so KiloEx officially announced the wallet IDO the next day.

It seems that this operation reminds people of the acquisition and support of JEX 6 years ago, and then BN entered the derivatives market.

In short, KiloEx is a derivatives DEX founded by several early members of a large firm. The goal is to create an on-chain version of Binance Contract. It won the championship in the incubation competition organized by Binance Labs.

Compared to Hype, which built its own chain, KiloEx directly supports mainstream multi-chains, such as BNB, opBNB, Base, etc. Therefore, KiloEx is currently the DEX with the largest transaction volume on the opBNB chain, with a daily scale of about 80 million US dollars, and its TVL accounts for 70% of opBNB.

In terms of operation, this DEX is also relatively aggressive, with 1,700 rebate nodes, and through smart contracts, it distributes the rebate rewards of transactions, and rolls this set of incentives onto the chain.

Fortunately, KiloEx's primary financing valuation is not high, and there is no initial market value pressure like other IDO projects. Looking forward to the subsequent secondary market performance.

Update: The Hype platform intervened, forcibly set a settlement price, and delisted the token directly. DEX turned into CEX overnight, redefining CeDeFi.

Let’s briefly explain what happened with Hype.

· Two accounts, one going long and the other short
· Spot prices are constantly driven up, liquidating short positions
· Huge short positions are taken over by Hype
· All longs become Hype's opponents
· Then the price keeps rising, allowing longs to profit while Hype incurs huge losses
· Finally, close the long positions for profit, then sell the spot

It can be understood as everyone is hunting together in the casino, and retail investors want the project party to go bankrupt.

BNB brothers are waiting for the voting results at midnight
Macro brothers are waiting for the speech of the Japanese governor
Justice brothers are standing up for the flu brother
Project brothers are migrating to BNB for the IDO overnight
Media brothers are working hard to attract investment for the April conference

Our crypto circle is still exciting.

This April's blockchain conference, whether in Hong Kong, Japan, or Dubai, the scale of sponsors and venues feels significantly reduced. The organizer of one venue complained at night that sponsorship was half of last year's.

I wonder if this is a signal of the end of the hype, and whether offline conferences are finally going to normalize, rather than being as extravagant as in previous years.

It seems that after the IDO on Binance Wallet, looking for a low point to buy in and then betting on the opportunity to go on Binance is also a strategy. Currently, the success rate is 60%, and if you exclude Particle, it is 50%.

Some colleagues have previously revealed that there will be a 90-day observation period after the IDO, during which it will be decided whether to list on CEX. It's unclear how long this rule and strategy will continue.

The Particle shared previously seems to have the least controversy in this token issuance, with many aspects worth learning from:

1. No witch-hunting, providing four times the reward above the cost of minting
2. Choosing to launch on Binance at a low market cap of 300 million
3. Conducted a wallet IDO, with airdrops available to everyone
4. Lowered the financing valuation, with both seed and Series A rounds at 150 million
5. The founder never publishes long, unattainable research

This also aligns with the previously mentioned new coin listing approach, where many projects collaborating with the BNB chain will launch on Binance with a low market cap through the BNB chain + wallet IDO format.

Among them, the VC cost line for Particle $PARTI is around $0.15, corresponding to a longer lock-up period, which can serve as a reference for future secondary prices.

Let's translate this simply.

Generally, market makers have several accounts on exchanges, with each account assigned to specific projects to provide trading and liquidity support. The accounts are also registered with different identification information.

However, these accounts inevitably have transfer associations. This time, it seems they traced the financial chain information and are investigating Binance accounts and on-chain addresses that have had financial associations.

According to Movement's response, 38 million USDT will be reclaimed from market makers to repurchase MOVE on the secondary market, a much larger amount than the previous instances involving Myshell and GoPlus, which is tough for secondary users on Binance.

Perhaps this is just the tip of the iceberg. Based on Binance's current investigation progress, it is estimated that there are more significant issues to come. This time, it’s a true industry blacklist, the first time in history.

Privasea's token issuance is also nearing, with a valuation of 180 million at the beginning of this year. It signed a token swap agreement with market makers GSR and Amber, while the VC valuation is around 150 million.

It can be considered one of the better projects in terms of investor camp among the current AI projects that have not issued tokens, but the valuation pressure is not particularly high. It has also received investments from Binance Labs, Nomura Securities, and OK.

Similar projects have been launched with a guaranteed minimum in the first tier.

In simple terms, Privasea is a platform that allows individuals to operate using AI without exposing their privacy, such as verifying whether someone is a real person, completing tasks through interaction to earn rewards, while also not leaking facial data.

Its biggest technical feature is the use of a relatively mature encryption method called FHE (Fully Homomorphic Encryption), which allows AI to function without seeing the data content, thus protecting privacy and preventing bots and fake identities (Sybil attacks).

However, having just the platform and technology is not enough, so based on the above, they launched a user-side product called ImHuman App, which uses encrypted facial recognition to generate on-chain identities (PoH NFT) to assist many Web3 applications in using this identity to prevent witch attacks, ensuring that users are real people.

Therefore, the market's positioning for Privasea mainly focuses on AI + DID, with DID being a hot topic of discussion in the last bull market, and it has come back to life with Privasea's upcoming token issuance.

Currently, the community estimates that Privasea's market value will be between 200 million to 500 million, depending on whether it will be launched first on Binance or take the Binance wallet IDO path, as Privasea is not a public chain project, so the token can also be launched on the BNB chain.

The fifth phase of Binance wallet's IDO has just been officially announced, and Privasea is likely to appear in the upcoming phases, so continue to stay tuned.

Update: $NIL hit 0.97 on Binance, then fell back to 0.71, consistent with the price prediction range previously written in this article. Pay attention to the support at 0.5, which is the cost line for VCs.

Good news: Each project party has started to buy back.
Bad news: It seems that the coin prices have bottomed out.

Today's biggest discussion in the market: the continuation of $BNB 's market trend and the desperate counterattack of $SOL . It's time to review the key figures behind these two again.

See $SOL related subjects starting to move

1. The return of the last round's largest market maker Jump
2. Rumors that the authorities have started OTC SOL tokens again
3. Small unlock in April $TRUMP 4 and large unlock in July
4. Various projects banding together for a positive impact, countering $BNB

It feels like everyone hasn't rested over the weekend.

· The friends at Binance are frantically bringing in new users for wallets and public chains, under immense pressure.
· Competing exchanges have held several days of discussion meetings, feeling extremely anxious.
· Project teams in startups are working overnight to migrate projects to BNB and seek KOLs.
· Institutions in vehicles are urging project teams to switch to BNB and trying to exit.

A few older colleagues complained that during the early Trump market, they were never this busy while working.

I thought that the voting for the coin was limited to the 3 RMB red envelopes that were sent in the group to solicit votes. As a result, today during my break, while watching Japanese and American dramas, I opened the recommendations from Ai Yifan, and they were all asking for votes for a certain BNB project.

This website should be the largest platform for overseas students and Chinese people to watch dramas, and it's been infiltrated. It's surreal.

Nillion has officially announced its listing on Binance. Last week, there was some research and discussion about it. At that time, the community had significant controversy due to the airdrop and project positioning, but fortunately, the subsequent handling was acceptable.

The pre-circulation of the token is approximately 19.5%, and the community generally expects a market cap of over 1 billion, with 500 million being the bottom line for VCs. This can serve as a reference for the subsequent secondary price, corresponding to a token price of around 1 or 0.5 USD.

One can only say that Ansem has hit the jackpot. The projects he invested in, Nillion, Solayer, Movement, and Ethena, are all listed on Binance. Additionally, Monad, which he also invested in, is currently a hot project, and Shogun happens to align with the recent meme trend.

Ansem became most famous in the community for his bullish view on SOL after the collapse of FTX, when SOL had dropped to 8 USD. He then rallied a group of fans to build positions under 10 USD. Now, even with the recent pullback from the highs, it's still around 13 times the value.

Although everyone often jokes that the projects VCs are currently investing in are not good, this guy has achieved a 100% success rate in getting projects listed on Binance. After Nillion, Monad is next, and the certainty is quite strong.

The issue of delisting votes should be the most painful for market makers and project teams involved in shell buying and selling. During the bull market, there were rumors of a shell on Binance worth 8 million dollars, with quotes over 500 + subsequent market making dividends. I'm not sure how the recent quotes are, but there are still quite a few interested buyers.

This wave of operations has essentially blocked the underwater business in this area. If a project suddenly changes its style and raises the market, it is highly likely that it has sold its shell.