Rhythm Evening News｜Base chain Meme coins are generally rising; Altlayer may launch a staking service

Selected News:

1. Base chain Meme coins are generally rising, and DEGEN has risen by more than 33% in 24 hours

2. Altlayer may be launched Pledge service

3. Previously detained Binance executive "jailbroken" in Nigeria

4. Matrixport: Bitcoin ETF funds are expected to achieve net inflows in the near future

5 .Binance Labs announces investment in StakeStone

Price Watch

BITO US stocks rose 4.97% before the market opened, and IBIT rose 4.94%

ProShares Bitcoin Strategy ETF (BITO) U.S. stocks rose 4.97% before the market opened, the iShares Bitcoin ETF rose 4.94%, and the Bitwise Bitcoin ETF (BITB) rose 4.91%.

SOL rebound To above US$190

According to OKX market data, SOL rebounded to above US$190 and is now quoted at US$190.66, with a 24-hour increase of 9.27%.

Ethereum Breaking through $3,500, a 24-hour increase of 5.22%

According to OKX market data, Ethereum broke through $3,500 and is now quoted at $3,503, with a 24-hour increase of 5.22%.

Vitalik posted Mentioning ENS, the currency price rose by more than 8% in a short time

Vitalik responded to the news of "Ethereum Name Service is now fully decentralized" on the social platform as a case study. Affected by this, ENS rose by more than 8% in the short term, temporarily trading at $24.07.

ALT short It touched US$0.57 at the time, rising by more than 12% in 24 hours

Perhaps affected by the news that "Altlayer may launch a staking service", ALT touched US$0.57 in the short term, and is now quoted at US$0.5597, rising by 24 hours 12.99%.

VENOM short It broke through $0.53 at one time

According to OKX market data, VENOM broke through $0.53 at one time and is now quoted at $0.498. The previous open was as high as $0.40.

PENDLE Breakthrough 4 US dollars, continuing to reach a record high

According to market data, PENDLE exceeded 4 US dollars and is now quoted at 4.15 US dollars. The 24-hour increase expanded to 18%, and the currency price continued to reach a record high.

Base chain Meme coin DEGEN exceeded 0.016 US dollars, and the 24-hour increase expanded to over 50%

According to market information, Base chain Meme currency DEGEN exceeded 0.016 US dollars, and the current price is 0.01634 US dollars, and the 24-hour increase expanded to 57 %, the currency price continued to hit a record high.

Previously, Drakula, the first "Web3 version of TikTok" based on the Base network, supports DEGEN rewards.

PENDLE breaks through $3.88, hitting a new high Historical high

According to market data, PENDLE exceeded US$3.88 and is now quoted at US$3.881, with a 24-hour increase of 11.02%, and the currency price reached a record high.

AERO Breakthrough 1 US dollar, a 24-hour increase of 28.22%

According to CoinGecko market information, Base ecological liquidity protocol Aerodrome token AERO exceeded 1 US dollar, and is now quoted at 1.018 US dollars, with a 24-hour increase of 28.22%. Prices continue to hit record highs.

Base chain Meme coins are generally rising, and DEGEN has risen by more than 33% in 24 hours

Base chain Meme coins are generally rising, including:

DEGEN rose 33.8% in 24 hours, temporarily trading at US$0.014;

BRETT rose 22.69% in 24 hours, temporarily trading at US$0.0418;

NORMIE rose 30.25% in 24 hours, temporarily trading at US$0.0418 It was quoted at $0.109.

doginme’s 24-hour increase reached 50.26%, temporarily reported at US$0.001347;

BRIUN’s 24-hour increase reached 43.2%, temporarily reported at US$0.0267.

ONDO Breakthrough 0.9 US dollars, continuing to hit a record high

According to market information, the RWA protocol Ondo Finance token ONDO exceeded 0.9 US dollars and is now trading at 0.9050 US dollars, with a 24-hour increase of 22.96%, continuing to hit a record high.

Transaction Tracking

A certain address invested in BODEN and the floating profit exceeded 620 times

According to The Data Nerd monitoring, 22 days ago, a certain address 8SM2h sold 6.11 SOL (approximately US$800) converted into 25.64 million BODEN. After holding it for 2 days, the address began selling 24.9 million BODEN at an average price of $0.0105, making a profit of over $260,000. Currently, this address still holds 708,000 BODEN (approximately $239,400). The comprehensive floating profit exceeded 620 times.

Two new The address withdrew GMT worth US$16.2 million from Binance

According to Lookonchain monitoring, in the past 2 hours, 2 new wallets have withdrawn a total of 52.7 million GMT (approximately US$16.2 million) from Binance.

Suspected ONDO The team address withdrew about 1.05 million US dollars in liquidity from Uniswap

According to @ai_9684xtpa monitoring, the suspected ONDO team address 0xC1f...159ef withdrew about 105 from the Uniswap WETH/ONDO trading pair Ten thousand US dollars in liquidity (95 ETH and 775,000 ONDO). Subsequently, all 4.33 million tokens were transferred to the address 0xDd2...23F6E, worth US$4.14 million, and have not been transferred or sold yet. The address was funded by the 144 million tokens distributed by the team on January 18, and the address was changed several times in two months.

a PENDLE Early investors transfer 150,000 tokens to Binance

According to monitoring by @ai_9684xtpa, two hours ago, the address that opened a PENDLE position three years ago deposited 150,000 PENDLE to Binance. If all were sold, the profit would be US$560,000.

In the past two months, this address has deposited a total of 590,000 PENDLE to Binance, with a transfer price of US$3.09, and a total profit of approximately US$1.65 million; currently, the address The address still holds 359,000 tokens, costing approximately $0.28.

Someone new The address withdrew GMT worth US$12.1 million from Binance

According to Spot On Chain monitoring, a new wallet address 0xc7e withdrew 39.93 million GMT from Binance in the past 45 minutes at an average price of approximately US$0.303. GMT (approximately $12.1 million), may become the largest non-team/CEX holding address in GMT.

American comedy Actor Kevin Hart sold BAYC #9258 for 13.26 ETH, losing 66 ETH

Blur data shows that 8 hours ago, American comedian Kevin Hart spent 79.5 in January 2022 through MoonPay BAYC #9258 bought in ETH was sold on Blur for 13.26 ETH, resulting in a currency loss of 66 ETH.

Some whale Today, 5.1 million COTI were withdrawn from Binance, and the holding increased to 16.5 million COTI

A whale withdrew 5.1 million COTI (approximately US$1 million) from Binance today. The whale started accumulating COTI last year and currently holds a total of 16.5 million COTI (approximately $3.3 million).

Wintermute withdraws 6.2 million from Binance PHA, worth 1.9 million US dollars

According to Scopescan monitoring, Wintermute withdrew 6.2 million PHA (approximately 1.9 million US dollars) from Binance and transferred it to address 0x0f717 (the address is on AVAX from B2C2 received a Gas fee).

Some whale A total of US$5.88 million worth of ONDO has been withdrawn from CEX in the past month

According to Lookonchain monitoring, multiple whales are hoarding ONDO tokens. Among them:

The address starting with 0x56F9 has withdrawn ONDO worth US$5.88 million from CEX in the past month;

The new address 0x92dD has withdrawn ONDO from CEX in the past hour Withdrawal of $1.78 million worth of ONDO;

The 0xE6bf address withdrew $845,000 worth of ONDO from CEX three hours ago.

Project News

Altlayer may launch a staking service

Altlayer officially sends a "steak" emoticon on social platforms tweet, or hinting at the launch of a staking service.

Negentropy Capital Announced a donation of US$1 million to the Slerf project to support the latter’s NFT project

According to official news, Negentropy Capital announced a donation of US$1 million to the Slerf project to support Slerf's design and issuance of a new NFT project. The NFT series is planned to be issued and listed in the near future, and the funds raised will be used for previous Slerf tokens. Refunds for investors participating in pre-sales projects.

BTC MACHINE Cooperated with Buoyant Capital to launch Gamestone airdrop to Runestone holders

The Bitcoin Ordinals project BTC MACHINE cooperated with the asset management company Buoyant Capital to engrave "Gamestone" as a sub-project of "Runestone" and An airdrop will be held soon to all Runestone holders.

Arbitrum Community New draft proposes to launch Memecoin fund

Arbitrum community members released a draft proposal, planning to launch a dedicated Memecoin fund, designed to operate independently from the Arbitrum DAO, screen and invest in Memecoin projects, and help these projects Grow and foster a Memecoin-friendly culture in Arbitrum. The proposal highlights that Memecoin can bring new liquidity, users, and attention to the blockchain in question, thereby having a positive impact on dApps, the chain itself, and its utility projects. The move comes in response to growing user activity stagnation and new user attraction challenges, especially in the context of other blockchains such as Solana’s success in attracting significant retail investors and attention through Memecoin. The Memecoin Fund will pass strict screening standards to ensure that the invested Memecoin projects meet the requirements of fairness, security and liquidity, aiming to bring more on-chain usage, DeFi activities and new users to Arbitrum.

The fund also plans to provide financial and liquidity support to selected Memecoin projects, including investment amounts between US$50,000 and US$150,000, while providing professional Graphic designer/video renderer support. The operation of the fund will be shared by Arbitrum’s community of trust builders and collaborators, in the form of five board members and three collaborators, ensuring the fund’s decision-making and financial security. In addition, the proposal proposes allocating $3 million worth of ARB for a start-up fund (6-month trial period).

CeFi Information

Previously detained Binance executive "escaped" in Nigeria

According to local Nigerian media PREMIUM TIMES, he was previously detained for tax evasion and other crimes. Binance executive Nadeem Anjarwalla is currently on the run from detention in Nigeria.

Anjarwalla escaped from a local guest house on March 22 when staff on duty took him to a nearby mosque for prayers during the ongoing holy month of Ramadan. Anjarwalla, who is British and a Kenyan citizen, is believed to have left Abuja on a Middle East Airlines flight.

It is unclear how Anjarwalla got on the international flight, although the British passport he used to enter Nigeria is still being held by Nigerian authorities.

An immigration official said the Binance executive used a Kenyan passport to flee Nigeria. He said authorities were working to determine how he obtained his passport when he had no other travel documents other than his British passport when he was detained.

Another source said the two officials were being held in a "comfortable guest house" and were allowed access to phones, among other privileges, which Anjarwalla took advantage of This privilege comes to plan an escape.

Binance will Stop supporting the deposit and withdrawal of USDC tokens on the TRON Network

According to the official announcement, based on the Circle team stopping supporting the USDC tokens of Tron Network (TRC20), Binance will stop supporting the USDC tokens of Tron Network (TRC20) on April 5, 2024. Support for deposits and withdrawals of USDC tokens on Tron Network (TRC20) will be stopped at 10:00 on the same day (Eastern Eighth District time).

Circle at Minting 50 million USDC on the Ethereum chain

According to Whale Alert monitoring, at 14:25 Beijing time, Circle minted 50,000,000 USDC on the Ethereum chain.

HashKey: There will be clear news about the Hong Kong Bitcoin spot ETF in the first half of the year

According to a report from the Hong Kong Economic Journal, HashKey is working with more than 10 Hong Kong securities firms as a licensed custodian (custodian) Work closely and participate in the preparation of spot ETFs. HashKey predicts that there will be clear news about the Hong Kong Bitcoin spot ETF in the first half of the year. HashKey provides underlying infrastructure support for funds applying for ETFs in Hong Kong, covering aspects such as trading and custody. HashKey revealed that its custody business has been operating stably for more than a year, with assets under custody exceeding 2.2 billion yuan, and is becoming a custodian option for fund institutions to develop virtual asset spot ETFs.

Binance will Delisting ANT/USDT, DGB/USDT and CTK/USDT U-margined perpetual contracts

Binance announced that it will delist the ANT/USDT, DGB/USDT and CTK/USDT U-margined perpetual contracts will undergo automatic liquidation, and these U-margined perpetual contract trading pairs will be officially delisted after the liquidation is completed.

In addition, as of 18:30 on March 25, 2024 (Eastern District Time), Binance has updated the leverage and margin tier settings for the above contracts. The adjustments include updates to the maximum leverage multiple, position limits and maintenance margin rates. Specific adjustment details have been announced in the official announcement.

Opinion data

Matrixport: Bitcoin ETF funds are expected to achieve net inflows in the near future

Matrixport posted on social platforms that Bitcoin prices have adjusted in the past two weeks because ETF inflows have turned negative. Genesis’ liquidation of GBTC shares is seen as the reason. Looking at outflows, there is a high chance that ETF inflows will turn positive in the near future.

Bloomberg: A large number of old model mining machines are facing elimination in the United States due to the "approaching halving", and some are being refurbished for sale to overseas low-cost mining companies

According to Bloomberg, due to the Bitcoin halving event Coming soon, while American mining companies continue to purchase new mining machines to expand their computing power, they are also disposing of their old models of mining machines. Approximately 6,000 old Bitcoin mining rigs will soon be unused and sent to a warehouse in Colorado Springs, where they will be refurbished and resold overseas looking to profit from mining in a low-cost environment buyer.

With electricity being the largest expense in Bitcoin mining activities, mining companies including publicly traded companies Marathon Digital Holdings Inc. and Riot Platforms Inc. need to reduce Use costs to maintain positive profits. In theory, the computing power of old mining machines may still be profitable after the halving, but it is unlikely to be realized given the high electricity bills in the United States.

According to estimates by Ethan Vera, chief operating officer of Luxor, a cryptocurrency mining services and logistics provider, approximately 600,000 S19 series mining machines (accounting for 10% of the machines currently in use) ) are moving from the United States to Africa and South America. Some buyers will wait until the halving occurs before purchasing used mining rigs, believing that prices will have dropped even more by then. Data shows that in March 2022, a second-hand S19 model mining rig sold for about $7,030. A year later, as Bitcoin prices fell, the price of a used S19 dropped sharply to about $900. As mining machines are updated, second-hand S19s have dropped to about $427 this month and are expected to sell for about $356 after the halving in May.

In addition, there are also some US miners who choose not to sell their hardware, but only move the equipment to areas with lower power costs and third-party data centers.

Analysis: The value of transfers on the Bitcoin chain is weak and is expected to continue to rise

According to Glassnode data, the average dollar value of Bitcoin on-chain transfers is still far below its 2021 peak. Analysts at Blockware Solutions said this is a sign that investors continue to hold tokens in anticipation of price increases. "No one wants to sell Bitcoin."

Recent spot trading volumes have been concentrated in ETFs, which also explains the low on-chain trading volume. Nevertheless, other indicators also show that investors who survived the 2022 bear market are continuing to hold their token reserves, expecting Bitcoin prices to continue to rise.

DWF Lianchuang: The market heat has slowed down, and AI, RWA, etc. will be the trend in the future

Andrei Grachev, co-founder of DWF Labs, wrote, "Transaction volume has dropped and the market is calm, except for MEME coins. We have also seen a slowdown in capital inflows.

This is logically correct. Money comes easily and goes quickly. The market distributes funds among different players, sets a new bottom, and then rises again. Artificial intelligence, RWA, games, zero-knowledge proofs, infrastructure, decentralized finance, derivatives - these are all trends."

Axelar Lianchuang: Asset tokenization is one of the potential long-term drivers of Web3 applications. Forbes recently published an article on asset tokenization. The blockchain technology of Bitcoin and cryptocurrencies allows traditional assets to be "tokenized" on public ledgers, potentially reducing the transfer costs of alternative investments such as stocks, bonds, real estate and art, making them more convenient. The article quoted Sergey Gorbunov, co-founder of Axelar and CEO of Interop Labs, as saying, "Asset tokenization is just one of the many potential long-term drivers of Web3 applications. Some infrastructures are mature enough to provide more significant advantages than traditional systems. You may often hear that blockchain use cases have not yet appeared, but in our view, use cases are far ahead of infrastructure. Now this situation is beginning to change."

Data: Base last week 850,000 users, a record high

According to Dune data, Ethereum Layer2 Base incubated by Coinbase added 847,811 users last week, a record high number of new users.

Greeks. live researcher: The weekend rebound confirms market optimism, and this correction is likely to have come to an end

Greeks.live researcher Adam released this week’s crypto market trend outlook on social media:

This week we will mainly focus on Friday’s core PCE data. Last week, Powell’s speech reiterated expectations for an interest rate cut. If this Friday’s data is not too outrageous, the Fed’s interest rate policy will have a negative impact on the currency market. There is no profit for the time being. The overall rebound in the currency market over the weekend also confirms the market’s optimism. This BTC 73,000-61,000 correction is likely to have come to an end. Bitcoin and the entire cryptocurrency market have experienced a deep correction in the past week. However, with the Fed’s dovish tone, cryptocurrencies led by Bitcoin have rebounded as a whole. Currently, BTC is around 66,500. The risk of further decline is reduced, and Dvol has also dropped further to 66,500. 72.5, Dvol is likely to fall further as the delivery date approaches. In terms of the crypto interest rate market, major Bitfinex spot investors are increasing leverage, and the Greenleaf interest rate market has become active again.

Ethereum Layer2 TVL has rebounded to US$37.97 billion, a 7-day increase of 6.53%

According to L2BEAT data, the current Ethereum Layer2 total lock-up volume (TVL) has rebounded to US$37.97 billion, with a 7-day increase of 6.53%. 6.53%. Among them, the top five locked positions are:

Arbitrum One (USD 16.7 billion, an increase of 11.97% in the 7th day);

OP Mainnet (USD 8.22 billion, up 0.87% on the 7th);

Blast (USD 2.53 billion, down 3.74% on the 7th);

Base (USD 2.15 billion, down 3.74% on the 7th) 7-day increase of 42.63%);

Manta Pacific (2.02 billion US dollars, 7-day decrease of 3.65%).

Financing Express

Binance Labs announces investment in StakeStone

Binance Labs announces investment in StakeStone, a full-chain liquidity distribution network, aiming to connect the entire chain Liquidity, and provide staking, future re-staking yields and liquidity for emerging chains and ecosystems.  

The BTC Layer2 project BEVM based on Taproot Consensus announced the completion of the seed round and part of the Series A financing of tens of millions of dollars, with a post-investment valuation of US$200 million

The BTC Layer2 project BEVM announced the completion of the seed round and part of the Series A financing. Part of the Series A financing, with the financing amount reaching 10 million US dollars, participating investors include RockTree Capital, Waterdrip Capital, Arkstream Capital, ViaBTC Capital, Satoshi Lab, Web3port, Cogitent Ventures, MH Ventues, Mapleblock, Electrum Capital, Zephyrus Capital, Lotus Capital, Nearly 20 institutions including 7UPDAO and TimeTells have a post-investment valuation of US$200 million.

BEVM is the first Bitcoin second-layer network built based on Taproot Consensus and uses BTC as Gas and is EVM compatible. It is committed to bringing 10% of BTC into the second-layer network. layer network. Its Xianxing Network was launched in July 2023. As of now, it has 100,000+ on-chain users, processed more than 6 million transactions, and has 30+ ecological projects deployed on its Xianxing Network. It is reported that BEVM will launch the mainnet on March 28.

Regulatory News

Terra and Do Kwon will go on trial in Manhattan today

According to Reuters, Terraform Labs and its founder Do Kwon will go on trial. He goes on trial Monday in Manhattan. Regulators accuse them of lying to investors before the collapse of two of the company's cryptocurrencies, LUNA/UST. Do Kwon will not attend the trial. He is currently being held by the Montenegrin authorities in a "reception center" for foreigners until a local court makes a new decision on his extradition.

Hong Kong Securities Regulatory Commission Society: Beware of HKCEXP’s suspected virtual asset-related fraud

The Hong Kong Securities and Futures Commission warns the public to pay attention to some entities operating under the name "HKCEXP", which are suspected of engaging in virtual asset-related fraudulent activities. The relevant victims encountered difficulties in withdrawing money and were required to pay high "taxes." HKCEXP provided a false Hong Kong address on its website to mislead investors, and claimed to be a "company registered with the Securities and Futures Commission" and published false and misleading information. The police have blocked the relevant website of HKCEXP and today added the HKCEXP website to the Securities and Futures Commission’s suspicious virtual and asset trading platform alert list. But the public should be wary of new, similar websites that scammers may create.

Welcome to join the official BlockBeats community

Telegram subscription group: https://t.me/theblockbeats

Telegram communication group: https://t.me/theblockbeatsApp

Twitter official account: https://twitter.com/BlockBeatsAsia