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KuCoin’s Turkish X account was compromised

KuCoin’s Turkish X account was compromised

April 15, 2024

Hot projects + Market overview

I. Mainstream exchange news

  • BackPack Exchange, a crypto exchange, launches an Android App.
  • KuCoin’s Turkish X account was compromised. KuCoin said no user funds have been affected by the incident.
  • Crypto exchange BingX now supports registration for Iranian users.
  • Coinbase has filed an interlocutory appeal in a lawsuit with the US SEC.
  • OKX's Web3 wallet kicks off the second phase of the Injective Ecosystem Week.
  • Gopax, a South Korean crypto exchange, sees a 97% YoY increase in revenue for 2023.
  • Bitget launches pre-market trading, allowing users to trade before new coins are available for spot trading.
  • Binance to list the 52nd launch pool project, Omni Network (OMNI), in their new coin mining program.
  • Jupiter LFG Launchpad to list the NFT lending protocol Sharky.
  • UniSat to launch the mainnet support plan for Runes on April 19th.
  • Ordinals developer states that Runestone has no presale or team allocation.
  • ZigZag to shut down operations this week due to regulatory pressure.
  • The first PRCL allocation happens next week, with a second community allocation of perpetual points slated for Q2.
  • Mocaverse, a project under Animoca Brands, announces its tokenomics.
  • The AI node staking public chain ALIENX officially starts the AI Node whitelist presale.
  • The TON Foundation partners with HashKey, adding a fiat on/off-ramp for Telegram wallet users.

III. Funding news

  • Aligned Layer, a decentralized ZK-proof verification layer, completes a $2.6 million seed round of funding.
  • Multisynq, a decentralized bandwidth-sharing network, completes a $2.2 million seed round of funding, led by Manifold.
  • The financing amount of the blockchain platform Berachain increases to $100 million.

IV. Regulatory news

  • The US Internal Revenue Service (IRS) is preparing for a significant increase in cryptocurrency tax evasion cases.
  • A Vietnamese official says that Vietnam has not banned cryptocurrencies and it is necessary to establish a legal framework.
  • The US Treasury Department is seeking to impose more sanctions on cryptocurrency exchanges.

Market overview 

BTC experienced a 16.6% decline due to the effects of the ongoing war, resulting in the currency plunging to a low of $60,660. It has since bounced back to over $65,000. Market volatility resulted in approximately 290,000 people encountering liquidation. Prior suggestions indicated that if BTC fell below the pivot of $67,000, it would likely decrease to $62,000. The market has returned to rationality following the clearance of the leverage. Key points and opportunities for investment include:

(1) Observing whether the Iran-Israel conflict will escalate causing a global fall in assets. Such a situation directly impacts BTC's short-term direction;

(2) Assuming a reduction in external influences, BTC often goes through a 1-2 month correction phase post-halving, following which, a larger surge occurs six months later. Currently, BTC continues to fluctuate within the broader range of $62,000 - $71,800. It's essential to closely monitor this range to discern any effective breakthrough of the upper boundary and the support strength at the lower boundary;

(3) In the short term, the $66,000 - $67,000 range continues to form the market divide for BTC. The trading psychology suggests that breaching the $66,000 mark would be a signal to follow the uptrend, maintain a narrow stop loss, and strive for a favorable profit-loss ratio.


As of April 12th, updated data show that the total net inflow of BTC spot ETF is $12.53 billion, with a single-day net outflow of $55.07 million, and a single-day trading volume of $4.71 billion. The net assets of the ETF account for 4.26% of the BTC market value, with the main observations: 

GBTC: The daily net outflow was $166 million, and the cumulative net outflow amounted to $16.27 billion. The daily turnover reached $1.19 billion, and the net asset value stood at $20.84 billion.

IBIT: The daily net inflow totaled $111 million. The cumulative net inflow reached $15.26 billion. The daily turnover reached $2.21 billion, and the net asset value stood at $18.11 billion.

FBTC: No data yet.

BTC Core Index Data

Ahr999 Index: The current Ahr999 Index stands at 1.3. Traditionally, a value below 0.45 indicates a favorable buying period for BTC; a value between 0.45 and 1.2 suggests a good time for regular BTC investments. For reference, the Ahr999 index for BTC's two peak periods in 2021 and 2022 was at 9.25 and 3.6 respectively.

PI Cycle Top: The 111DMA is valued at $54,603 and the 350DMAx2 stands at $76,575, based on data from April 13, 2024. Traditional markers suggest that when the BTC 111-day average price surpasses twice the 350-day average price, the market may be experiencing a short-term bubble. The current distance between these two figures is relatively wide.

BTC Rainbow Chart: This is a long-term Bitcoin valuation tool that predicts potential future pricing through the use of a logarithmic growth curve. Currently, the BTC price puts us in a regardful stage for regular investments. In reference to the BTC peaks during 2017, 2021, and 2022, these were situated within the maximum bubble range, FOMO intensification, and Is this a bubble? zones of the rainbow chart respectively. According to present conditions, BTC would need to reach $204,000 to fall into the 'Is this a bubble?' range.

Top Cap Model: Also referred to as the two-year MA multiplier. This model utilizes the 2-year moving average (equivalent to a 730-day line) and five times the value of this moving average. Conventionally, when the price falls below the green line ('buy' line), it's an opportune time for purchasing; when the price rises above the red line ('sell' line), it's a time for selling. The current green line stands at $30,497, the red line at $152,487, and the BTC price sits in between.

In summation, each of these indicators suggest a relatively healthy state for the current BTC market. Although its volatility has had some significant upward movement, it still hasn't reached historical peak levels. The projected BTC peak falls between $120,000 and $140,000.

 1intro  starts initial token offering 

1intro is a one-stop Defi platform that utilizes AI technology to enhance user experience. It officially started LBP on April 14th. The market attention is high, and the single token price is currently at 0.1187 USDT, with an FDV of $118 million. 1intro has raised $1.897 million. The LBP will continue until April 17th.

On-chain Daily

1. PBR: PolkaBridge is a one-stop DeFi platform that includes staking, mining, LaunchPad, and multi-chain AMM. The underlying technology is supported by Polkadot.

The current price of PBR is 0.19 USDT, with a  historical high of 0.31 USDT. The 24-hour increase is 62.5%, and the current market value is $13.1M.

2. Mog: Mog is a memecoin relevant to Milady OG. Rumor has it that Mog is related to the members of the Milady community, and various Milady whales bought into Mog early on the chain. 

The current price of MOG is 0.0(6)51 USDT, with a historical high of 0.0(5)12 USDT. The 24-hour increase is 10.6%, and the current market value is $183.5M.

3. BOBO: BOBO is a bear market-related memecoin used to mock poor investment choices and express pessimistic emotions about the financial market.

The current price of BOBO is 0.0(5)185 USDT, with a historical high of 0.0(5)233 USDT. The 24-hour increase is 35%, and the current market value is $123M.

4. HashAI: HashAI is an AI + DePIN project. The HashAI team has built infrastructure and partnerships for cryptocurrency mining companies, including mining equipment supply, equipment hosting, and GPU sales. They launched their own HashAI token. Mining income will be shared with token holders.

The current price of HashAI is 0.0017 USDT, with a historical high of 0.003 USDT. The 24-hour increase is 18.4%, and the current market value is $153M.

5. CONAN: In 2019, Trump awarded the American military dog 'Conan' and even tweeted, calling it an American hero. The memecoin CONAN was then created based on this image, and a portion of its earnings will be donated to wounded veterans and military dog organizations.

The current price of CONAN is 0.0004158 USDT, with a historical high of 0.000422 USDT. The 24-hour increase is 57.8%, and the current market cap stands at $15.8M.

6. BLENDR: Blender Network is an AI + DePIN project that utilizes distributed GPUs to achieve global point-to-point rendering and computation. The plan is to create a two-way ecosystem, allowing everyone to perform high-quality 3D rendering while establishing a point-to-point computing power marketplace.

The current price of BLENDR is 2.03 USDT, with a historic high of 4.36 USDT. The 24-hour increase is 9.03%, and the current market cap is $83.7M.


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.

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