Significant token unlocks this week - AEVO, APT, ARB, STRK, and IMX

May 13, 2024

Hot projects + Market overview

I. Mainstream exchange news

• Binance and KuCoin secure approval to operate in India.
• Thailand SEC mulls over adjusting the capital reserve for digital assets.
• OKX is to list GLM crypto for perps and margin trading, and Simple Earn.
• Binance Futures to delist KNCUSD, ICXUSD, XTZUSD, ROSEUSD, and APEUSD Perp Contracts.

II. Mainstream projects and trending events

• The io.net Final Worker points for Season 1 have been updated and will no longer be changed.
• zkSync mainnet v24 upgrade has been postponed, the Sepolia testnet is expected to be fully restored within a few hours.
• Bounce Brand to launch Bounce M&A on May 14th.
• io.net announces its IO token contract address. The token is yet to be listed on-chain.
• AI project Bittensor to broaden its subnetwork slot to 64, aims to reach 1,024 subnetworks this year.
• Trump supports crypto and criticizes Biden’s ambiguous attitude toward crypto.
• Bloomberg analyst says Ethereum spot ETF may be approved after the end of 2025.
• The Bitcoin-pegged chain, BounceBit, tweeted that all LCT (Liquidity Custody Tokens) had been distributed to all early users on May 12th.
• Mark Cuban asks the CFTC to take over the regulation of the entire crypto industry before the US presidential election.
• The Celo community approves the temperature check for transitioning to Ethereum Layer 2 using OP Stack.
• EigenLayer starts the EIGEN token claim to close on September 7th.
• In response to Coinbase's interlocutory appeal, the US SEC stated that to date, no court has followed the ruling in the Ripple case.
• Layer3 Foundation is to launch the L3 token this summer, with 51% to be distributed to the community.
• Bitlayer's first official NFT, Lucky Helmet has been added to the OKX NFT market.
• GMX community proposes to introduce GMX V2 into Solana to launch the GMSOL project.

III. Funding news

• Cross-chain messaging protocol Glacis Labs completes a $2.1 million seed round.
• Web3 game BAC Games completes a $1.5 million seed round.

IV. Regulatory news

• The Central Bank of the Philippines approves the PHPC stablecoin linked to the peso.
• Ghana plans to create the first blockchain-driven government in Africa to combat corruption.
• Turkey plans to set new regulations for cryptocurrencies.
• The US Congress may vote on a cryptocurrency bill at the end of May.

V. Popular projects 

Market Overview

BTC concluded the week on a bearish note, while the general K-line chart consistently demonstrates a pattern of fluctuations. The market is currently experiencing a period of dull oscillations and BTC's volatility is on the decrease. The present adjustments are likely to continue, operating on the basis of exchanging time for space. Consideration could be given to reducing leverage during this phase. The release of CPI data will be the primary focus this week.

BTC Spot ETF

Data as of May 10th shows that the total net inflow of the BTC Spot ETF was $11.68 billion, with a single-day net outflow of $84.66 million, and a single-day turnover of $2.05 billion. The net assets of the ETF currently account for 4.2% of the BTC market cap. Key observations include:

GBTC: The single-day net outflow was $103 million, with an accumulated net outflow of $18 billion, and a single-day turnover of $426 million. The current net assets value is $17.54 billion;

IBIT: The single-day net inflow was $12 million, with an accumulated net inflow of $16 billion, and a single-day turnover of $1.01 billion. The current net assets value is $16.67 billion;

FBTC: The single-day net inflow was $5 million, with an accumulated net inflow of $8 billion, and a single-day turnover of $377 million. The current net assets value is $9.28 billion;

ARKB: The single-day net inflow was 0, with an accumulated net inflow of $2 billion, and a single-day turnover of $113 million. The current net assets value is $2.64 billion.

BABYBONK shows strong performance

BABYBONK is a memecoin issued on BSC, inspired by Bonk. The project has launched 1000 NFTs, which can be applied in the card game BONK ROYALE. BABYBONK token has a 5% buying and selling tax rate. The current market cap is $23.66 million, with a 24-hour trading volume of more than $7 million.

OCTA has soared 10-fold since listing

Octa Render operates as a decentralized rendering platform, utilizing a worldwide node network for task execution and offering support for an array of rendering engines, suitable for both GPU and CPU. The platform delivers ultra-fast rendering for its users. Aside from these features, the project also includes VPN-related services. The OCTA token, integral to the platform, has seen its value multiply ten times ever since it was listed on April 5th.

Significant token unlocks this week

Aevo (AEVO) to unlock approximately 827 million tokens on May 15th, accounting for 752.36% of circulation, worth about $1 billion;

Aptos (APT) to unlock approximately 11.31 million tokens on May 13th, accounting for 2.64% of circulation, worth approximately $96 million;

Arbitrum (ARB) to unlock approximately 92.65 million tokens on May 16th, accounting for 3.49% of circulation, worth approximately $92 million;

Starknet (STRK) to unlock approximately 64 million tokens on May 15th, accounting for 8.79% of circulation, worth approximately $77 million;

Immutable (IMX) to unlock approximately 25.53 million tokens on May 17th, accounting for 1.75% of circulation, and is worth about $5,500.

On-chain Daily

1. SIMBA: SIMBA’s IP is Trump's first cat.

Current price: 0.0(8)168 USDT

Historical high: 0.0(8)399 USDT

6-hour change: +14% (Token listed time: 5/12 03:15 UTC)

Current market cap: $728K

2. BEN: While PATTON is Trump's first dog, BEN is the first stray dog adopted by Trump.

Current price: 0.0(5)135 USDT

Historical high: 0.0(5)239 USDT

24-hour change: +30%

Current market cap: $577K

3. WIF: Paying tribute to the legendary memecoin WIF on Solana, this WIF is the Ethereum version.

Current price: 0.00212 USDT

Historical high: 0.034 USDT

6-hour change: -10.3% (Token listed time: 5/12 19:00 UTC)

Current market cap: $2M

4. KITTY: KITTY is the Solana version of Roaring Kitty, which was taken over by the community on April 6th. It is a memecoin established more than a month ago. The reason for the surge is the return of Roaring Kitty, the initiator of the 2021 GameStop short squeeze event.

Current price: 0.00613 USDT

Historical high: 0.0072 USDT

24-hour change: +3448%

Current market cap: $4.4M

5. CUFF: CUFF is a memecoin on Sol, Prison Cat, reportedly issued by the Slerf team member.

Current price: 0.00267 USDT

Historical high: 0.11 USDT

6-hour change: +16% (Token listed time: 5/12 12:15 UTC)

Current market cap: $2.1M

6. GME: GME is a memecoin on Base. Similar to KITTY, GME has risen due to the return of Roaring Kitty.

Current price: 0.0132 USDT

Historical high: 0.191 USDT

24-hour change: +58%

Current market cap: $1.2M

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