May 10, 2024
Hot projects + Market overview
I. Mainstream exchange news
- OKX to list Notcoin (NOT).
- Coinbase to list JTO, JUP, and TNSR perpetual futures contracts on May 16th.
- Binance introduces its 54th Launchpool project, Notcoin. Users can mine NOT tokens with BNB and FDUSD.
- OKX Jumpstart to list NOT (Notcoin).
II. Mainstream projects and trending events
- Pantera’s investment in TON is the largest in Pantera's history.
- Ripple and XRL Labs join the Digital Asset Recovery Protocol DEREC alliance.
- The EU is mulling over including crypto in its Undertakings for the Collective Investment in Transferable Securities (UCITS) framework, a market worth 12 trillion Euros, which could surpass that of US ETFs.
- Sanctum tokenonomics suggests the community manages 40% of the total supply.
- Optimism introduces a new superchain feature for L3 developers.
- Wintermute, a crypto market maker, captures 10% of Robinhood's Q1 trading revenue share, trailing behind Citadel Securities at 12%.
III. Funding news
- Bitcoin native application platform Arch completes a seed round funding of $7 million, led by Multicoin Capital.
- Solana-based tokenization platform AgriDex completes a pre-seed funding of $5 million, and plans for token airdrop.
- On-chain confidential computing project Arcium completes funding of $5.5 million led by Greenfield Capital.
- Web3 game developer Seeds Labs completes a seed round of $12 million funding.
IV. Regulatory news
- Korean National Tax Service enforces Bithumb users to pay $29.25 million in taxes.
- Binance's CEO claims Nigerian officials asked for a bribe of $150 million in crypto.
- Canadian Anti-money laundering regulator imposes a fine of $4.4 million on Binance.
- Taiwan's AML sets 2 years of jail time for unregistered virtual asset service providers.
V. Popular projects
Market overview
The lowest 4-hour BTC drop reached $60,630 before rebounding, remaining above the midpoint of the previous rise at $60,500. The 4-hour moving averages (MA140 and MA120) converge near $63,100. A breakthrough at this level could indicate a significant trend shift. Upper pressure ranges between $66,000 and $68,000; only a breakthrough is likely to reverse the trend, otherwise, fluctuations may persist.
BTC Spot ETF
Data as of May 9th shows a net inflow of $11.75 billion for BTC spot ETF, a single-day net outflow of $25.48 million, a single-day transaction volume of $751 million, the ETF's net assets percentage of BTC market value reached 4.21%. Among them, main observations include:
GBTC: The single-day net outflow was $43 million, with a cumulative net outflow of $1.8 billion, and a single-day transaction volume of $359 million. The current net asset value is $18.18 billion US dollars;
IBIT: The single-day net inflow was $14 million, with a cumulative net inflow of $1.5 billion, and a single-day transaction volume of $585 million. The current net asset value of $17.09 billion US dollars;
FBTC: The single-day net inflow was $3 million, with a cumulative net inflow of $800 million, and a single-day transaction volume of $246 million. The current net asset value is $953 million;
ARKB: The single-day net inflow was $4 million, a cumulative net inflow of 200 million US dollars, single-day transaction volume of 69.62 million. The current net asset value is $2.71 billion.
TURBO shows strong performance
Turbo, the first memecoin created using ChatGPT and represented by a yellow frog, has recently exhibited strong performance. TURBO currently has a market capitalization of $70 million, an on-chain liquidity pool worth $920,000, and 1,800 holding addresses.
ENQAI rises 40% in one day
enqAI, an artificial intelligence ecosystem with its primary product being the unfiltered LLM large model Eridu, operates on a decentralized network where profits are realized through reasoning. Eridu’s training incorporates a dataset of over a trillion tokens encompassing various fields like technical, medical, legal, and creative writing, derived from numerous text sources such as books, scientific articles, and websites. Despite not yet trading on major exchanges, ENQAI experienced a 40% surge within a single day.
JUICE’s trading volume up 5 million in the last 24 hours
JUICE is a permissionless lending protocol delivering up to triplex leverage against collateral for utilization in widely adopted and thoroughly audited DApps within the Blast ecosystem. The JUICE token, with its total supply set at 1 billion, boasts a current market capitalization of $24.69 million and has reached a trading volume surpassing $5 million in the last 24 hours.
EWT rises over 15% in one day
Energy Web, a collaboration of sustainability advocates and blockchain professionals, is dedicated to offering blockchain-incorporated clean energy infrastructure solutions for the energy sector. Recently, the L1 Energy Web X's App, a product of the organization, was approved by the Apple Store, allowing for downloads and participation in node staking by users. This increased user accessibility contributed to a daily spike of over 15% in the value of the EWT token.
On-chain Daily
1. PATTON: PATTON is a memecoin named after the first dog of former US President Trump.
Current price: 0.0(5)13 USDT
Historical high: 0.0(5)15 USDT
24-hour change: +57%
Current market cap: $547K
2. CHOPPY: CHOPPY is another memecoin, also named after a dog belonging to Trump.
Current price: 0.0(5)73 USDT
Historical high: 0.0(4)44 USDT
24-hour change: +135%
Current market cap: $706K
3.HyperAI: HyperHash AI is an AI + DePIN project, providing cloud computing services (GPU, CPU)
Current price: 0.11 USDT
Historical high: 0.14 USDT
6-hour change: +50% (Token went live: 5/9 18:00 UTC)
Current market cap: $1.1M
4. TUCKERWIF: TUCKERWIF, a memecoin on Solana, represents the renowned American journalist Tucker Carlson adorned with a fur hat and embedded WIF elements. This evolved from Ansem's tweet, which featured Trump in a similar hat.
Current price: 0.00058 USDT
Historical high: 0.0016 USDT
6-hour change: +9.4% (Token went live: 5/9 18:00 UTC)
Current market cap: $541K
5. Chuck: Chuck is a memecoin on the Base chain, featuring a headscarf-wearing character akin to Ryu from Street Fighter.
Current price: 0.0263 USDT
Historical high: 0.0266 USDT
24-hour change: +15%
Current market cap: $25M
6. Boshi: Boshi, a meme coin on the Base chain, holds similarities to Mario's character Yoshi, albeit Boshi sports a blue color theme.
Current price: 0.0018 USDT
Historical high: 0.028 USDT
24-hour change: +48%
Current market cap: $1.8M
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