Get started
App download QR code
Scan to Download
WOO X Mobile

Be cautious about trading BTC below $62,000

Be cautious about trading BTC below $62,000

Hot projects + Market overview

I. Mainstream exchange news

  •'s venture capital remains cautious about excessive industry valuations.
  • OKX to list Merlin Chain (MERL) on April 19th.
  • Korean crypto exchange Upbit to pause transactions over one million Korean Won.
  • Kraken announces the launch of a self-custodial crypto wallet.
  • Coinbase adds Omni Network (OMNI).
  • Merlin ecosystem's Launchpad platform MerlinStarter starts first-stage MSTAR airdrop.
  • Merlin Chain opens its airdrop query page corresponding to Merlin's Seal points.
  • HashKey Global to list Merlin Chain (MERL) and launch a 200,000 MERL reward pool.
  • CoinList launches a beta test for perpetual contracts in its new version.
  • Tether issues 848 million USDT and redeems 167 million USDT on April 16th.
  • Animoca Brands' subsidiary nWay to launch an Olympic-themed game Olympics™ Go! Paris 2024 in partnership with the International Olympic Committee.
  • Jupiter's second round of LFG Launchpad voting starts with six candidate projects.
  • NFT project CyberKongz completes airdrop of Pre-Rune series Prometheans.
  • Grayscale’s global head of ETFs, David LaValle, is 100% confident that exchange-traded funds based on other cryptocurrencies, aside from Bitcoin and Ethereum, will eventually be available to investors.
  • World Chain to join Optimism's Superchain.
  • Scroll launches a loyalty points program and will issue traceback points to users.

III. Funding news

  • Blockchain company Zeko Labs completes a $3 million Pre-Seed round of funding.
  • Bitcoin ordinals browser completes a $2 million Pre-Seed round of funding.
  • Stablecoin developer Usual Labs raises $7 million in funding, led by IOSG and Kraken Ventures.
  • Bitcoin Layer 2 solution Merlin Chain completes a new round of funding, led by Spartan Group.
  • On-chain financial platform Centrifuge raises $15 million in Series A funding with participation from IOSG Ventures.

IV. Regulatory news

  • US senators propose new stablecoin law prohibiting algorithmic stablecoins without reserve support.

Market overview

BTC dropped to a recent low of $59,678, then rebounded to $62,000, currently fluctuating around $61,500. As BTC halving approaches, BTC's trend is weak, basically in a downward trend. In the short term, pay close attention to resistance at $62,550. Be cautious about operating below $62,000;


Data as of April 17th show that the net inflow of BTC Spot ETF was $12.25 billion, a single-day net outflow of $183 million, and a single-day turnover of $3.5 billion. The share of the ETF's net assets in BTC's market value reached 4.25%. Major observations include:

GBTC: The single-day net outflow was $133 million, with a cumulative net outflow of $16.59 billion. The single-day trading volume was $764 million, and current net asset value was $18.69 billion;

IBIT: The single-day net inflow was $18.2 million, other data has not been updated;

FBTC: Data not yet updated;

ARKB: The single-day net outflow was $42.75 million, with a cumulative net inflow of $2.19 billion. The single-day trading volume was $173 million, and current net asset value was $2.62 billion;

As the expectation of BTC halving is getting closer, the net outflow of funds is accelerating. Pay close attention to changes in market funds after halving. 

SLERF is available on the OKX wallet

On April 13th, it was announced that SLERF's NFT would be made available on OKX wallet. SLERF has an expansive user base and high levels of engagement. The SLERF token has witnessed a doubling in value from the lowest point, outperforming BTC, with a trading volume of $140 million recorded over the past 24 hours.

PONKE performs strongly

PONKE, boasting an IP that combines elements of a monkey and Pepe, has issued 555 million tokens on Solana. In a recent counter-trend move, PONKE has rebounded 150% from the bottom, with a trading volume of $16 million recorded in the last 24 hours.

PCI listed on Korbit

PCI, operating as a virtual asset payment platform designed for e-commerce and retail applications, announced its listing on the Korbit exchange on April 14. Prior to this, PCI had already been listed on platforms such as OKX, HTX, and Bitget. The recent surge in trading volume can be attributed primarily to Korbit's introduction of a PCI-KRW trading pair. The token has bounced 166% from the bottom.

GINOA rebounds 247% from the bottom

Ginoa eliminates the speculative pricing nature of current NFTs by incorporating AI into trading, collecting, and investment strategies. It uses advanced machine learning algorithms to provide the best rarity and price estimates for digital assets. Ginoa also provides a one-stop barter exchange place to meet user's swap and trading needs. GINOA has recently rebounded 247% from the bottom.

On-chain Daily

1.SHREK: SHERK is a Shrek-themed memecoin. Like other common memecoins, 95% of the SHREK supply has been added to the liquidity pool, with the remaining 5% stored in the team's marketing wallet, used to promote SHREK and provide liquidity to CEX. Ownership of the contract has been renounced, and the liquidity is locked for 100 years.

The current price of SHREK is 0.0(5)15 USDT, with a historical high of 0.0(5)216 USDT. The 24-hour increase was 2300%, and the current market value is $1.5M.

2.Vine: Vine has been launched for nearly a year. Musk's tweet 'Bring back Vine?' stimulated recent surge.

The current price of Vine is 0.0011 USDT, with a historical high of 0.0026 USDT. The 24-hour increase was 1300%, and the current market value is $1.1M.

3.SOA: SOA is a memecoin, with an IP of Andy's son in the Pepe comic.

The current price of SOA is 0.0(9)568 USDT, with a historical high of 0.0(8)12 USDT, and the 6-hour increase was 6.73% (Token launched on April 17th).

4.BVM: BVM Network is the first modular Layer 2 on Bitcoin, which allows everyone to easily issue their own Bitcoin Layer 2, using the security and data availability of Bitcoin, without additional networks or consensus protocols. Yesterday, Merlin Chain, another BTC L2, announced token issuance, which also stimulated BVM.

The current price of BVM is 6.1 USDT, with a historical high of 6.35 USDT. The 24-hour increase was 10.7%, and the current market value is $73M. 

5.FOMO: FOMO is a memecoin on the Base chain, paying tribute to the father of memes, Richard Dawkins. FOMO was issued via a pre-sale process, during which, it garnered over 4200 ETH, testifying to its high market interest. However, upon market launch, the project organizers only contributed 10 ETH as liquidity and engaged in sharp trading practices involving 300 ETH.  Taxation was also applied during the buying and selling processes at the start of trading. Such malevolent activities have led to disappointment among pre-sale investors.

The current price of FOMO is 0.0234 USDT, and the opening price was as high as 0.16 USDT. The 6-hour drop was 33%, and the current market value is $23.7M.

6.BOBA: BOBA is a memecoin, with an IP of BOBO's wife. BOBO is a memecoin related to the bear market, used to satire bad investment choices and express pessimistic emotions about the financial market.

The current price of BOBA is 0.0(6)32 USDT, with a historical high of 0.0(6)88 USDT. The 12-hour drop was 1.66%, and the current market value is $136K.

The content above is neither a recommendation for investment and trading strategies nor does it constitute an investment offer, solicitation, or recommendation of any product or service. The content is for informational sharing purposes only. Anyone who makes or changes the investment decision based on the content shall undertake the result or loss by himself/herself.

The content of this document has been translated into different languages and shared throughout different platforms. In case of any discrepancy or inconsistency between different posts caused by mistranslations, the English version on our official website shall prevail.

Read Next

We use cookies to improve your experience. To find out more, please read our Privacy Policy. By clicking "Accept", you consent to our cookie and Privacy Policy. Or you may click “Decline”to refuse to consent.

Stay Connected

WOO connects traders, exchanges, institutions, and DeFi platforms with democratized access to the best-in-class liquidity and trading execution at low cost.

Terms of Service Privacy Policy Information Security Statement