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Rhythm Evening News | OKX will launch Merlin Chain (MERL); UniSat already supports Runes' testnet
Summarized by AI
Featured News:
1. Analysis: It is expected that the ETF custody address will have a net outflow of about 924 BTC after the opening of the U.S. stock market tonight;
2. UniSat: The test network of Runes has been supported, and the UniSat OpenAPI of Runes has been launched;
3. ORE broke through $400, with a 24-hour increase of 334%;
4. Goldman Sachs: The historical Bitcoin halving cycle should not be over-interpreted, and the continued rise of Bitcoin may depend on the amount of spot ETF inflows;
5. OKX will launch Merlin Chain (MERL)
Price Observation
ID rose above $0.76, with a 24-hour increase 15%
On April 17, according to OKX market data, ID rose above $0.76 and is now quoted at $0.769, a 24-hour increase of 15%.
BlockBeats previously reported that DWF Labs recharged 10.8 million IDs to OKX through the transfer address 0xD6e yesterday. Although some of them were withdrawn later, all 9.2 million IDs were transferred to OKX again earlier today.
The transaction price of MERL OTC on Whales Market is temporarily reported at $2.09
On April 17, according to the information on the Whales Market trading page, the current transaction price of MERL OTC on the platform is temporarily reported at $2.09. BlockBeats previously reported that at 14:00 on April 17, according to official news, OKX will launch Merlin Chain (MERL).
ORE breaks through $400, up 334% in 24 hours
On April 17, according to market data, the Solana on-chain mining project Ore token ORE broke through $400 and is now quoted at $425.7, a 24-hour increase of 334%.
Previously reported, on April 16, according to official news, Solana on-chain mining project Ore announced that mining has been suspended in order to focus on the development of v2. There is no deadline for claiming rewards, and all existing Ore tokens can be upgraded to the new v2 version of the token at a 1:1 ratio.
BVM briefly broke through $6, up 26.7% in 24 hours
On April 17, according to market data, BVM briefly broke through $6 and is now quoted at $5.8, up 26.7% in 24 hours.
BVMnetwork is a modular Bitcoin L2 protocol on Bitcoin that aims to create plug-and-play blockchain modules to launch its own Bitcoin L2 blockchain. Today, it announced an integration with the Solana ecosystem DePIN protocol io.net to fully utilize the potential of decentralized GPU clusters.
MSTAR opened at $0.4 and is now quoted at $0.173
On April 17, according to market data, Merlin Chain Ecological Launchpad platform MerlinStarter (MSTAR) opened at $0.4 and is now quoted at $0.173.
CFG rose more than 12% in 1 hour and is temporarily reported at $0.79
On April 17, according to OKX market data, CFG rose more than 12% in 1 hour and is temporarily reported at $0.79. It was previously reported that Centrifuge completed a $15 million Series A financing, led by ParaFi Capital and Greenfield.
OLM briefly broke through $0.06, up 103% in 24 hours
On April 17, according to market data, OLM briefly broke through $0.06 and is now quoted at $0.05932, up 103% in 24 hours.
It is reported that OpenLM (OLM) is the first IMO project of the artificial intelligence model project Ora. OLM IMO will tokenize the open source model of OpenLM, an executive language modeling (LM) repository designed to promote research on medium-sized LMs.
NAI opened up more than 170% on the chain, temporarily reported at $0.047
On April 17, NAI (Nuklai) opened up more than 170% on the chain, temporarily reported at $0.047. There is a large price difference between the token chain and CEX. According to Gate data, NAI is temporarily reported at $0.025. Nuklai is a Layer 1 infrastructure provider for the data ecosystem, empowering the next generation of artificial intelligence. It combines community-driven data analysis capabilities with the data of some modern enterprises.
Transaction Tracking
Celsius deposited 8091 ETH into Coinbase 9 hours ago
On April 17, according to Spot on Chain monitoring, the Celsius Network address deposited 8091 ETH (about 24.5 million US dollars) into Coinbase 9 hours ago, which is the largest transfer out of the Celsius Network address in the past 3 months.
Justin Sun withdrew 196 million USDT from HTX 7 hours ago and deposited it into Binance
On April 17, according to Lookonchain monitoring, Justin Sun withdrew 196 million USDT from HTX 7 hours ago and deposited it into Binance.
On April 17, according to @ai_9684xtpa monitoring, in the past three hours, the multi-signature address 0xA97 withdrew 6513 staked ETH from Lido and deposited 5100 of them into OKX, worth 15.72 million US dollars.
The address currently still holds 10,389 ETH and 510 WBTC, with a total value of 64.65 million US dollars.
DWF Labs transferred all 9.2 million IDs to OKX
On April 17, according to on-chain data analyst @ai_9684xtpa, DWF Labs transferred all 9.2 million IDs to OKX 5 minutes ago, with a value of US$6.66 million.
DEGEN broke through $0.029, up 19.1% in 24 hours
On April 17, according to CoinGecko data, DEGEN broke through $0.029 and is now quoted at $0.02914, up 19.1% in 24 hours.
BICO, GRT, and RBN top the Smart Money 24-hour inflow list
On April 17, according to Nansen 2 data, Smart Money's 24-hour Ethereum network capital inflow tracking list is as follows:
BICO: about 1.56 million US dollars, currently quoted at 0.51 US dollars, a 24-hour increase of 3.16%;
GRT: about 970,000 US dollars, currently quoted at 0.25 US dollars, a 24-hour increase of 0.59%;
RBN: about 810,000 US dollars, currently quoted at 1.14 US dollars, a 24-hour increase of 2.2%.
On April 17, according to the monitoring of the on-chain analyst Ember, 30 minutes ago, a whale redeemed 4.44 million SUSHI from SushiSwap staking, and then transferred 1.98 million SUSHI (1.91 million US dollars) to Bybit.
The whale withdrew 4.4 million SUSHI from Bybit at a price of US$0.61 on 2023/10/28 and then deposited it into SushiSwap staking. 1.98 million SUSHI are now redeemed and transferred to the trading platform at a price of $0.97, and a profit of $710,000 (+59%) is expected.
On April 17, according to Spot On Chain monitoring, Render Network transferred 2.5 million RNDR (about $20.8 million) to the new wallet 0x5b9 9 hours ago, of which 1.65 million RNDR (about $13.4 million) have been deposited in Binance in the past 5 hours.
On April 17, according to Scopescan monitoring, in the past week, the friend.tech team multi-signature address has deposited 4,424 ETH (US$13.7 million) into Coinbase. Currently, the income contract still has 11,274 ETH (US$34.76 million).
A whale withdrew 3 million ENA from Binance 16 hours ago and sent it to Pendle Finance
On April 17, according to Scopescan monitoring, 16 hours ago, a whale withdrew 3 million ENA (US$2.88 million) from Binance and sent it to Pendle Finance.
Previously, the whale had also accumulated and staked 3 million ENA (US$4.12 million).
Project Dynamics
On April 17, GM Network officially posted on social media that its CyberV series NFT will be launched on April 24. The project will release more NFTs when the product is launched, but CyberV will be the rarest series.
UniSat: The Runes testnet is supported and the Runes UniSat OpenAPI has been launched
On April 17, UniSat stated on its social platform that it has supported the Runes testnet. In addition, the Runes UniSat OpenAPI is now available, with the following features:
· Retrieve information about a specific Rune;
· List the holders of a specific Rune;
· List the Runes on a specific address;
· Access the complete event stream related to Runes.
As previously reported, on April 14, UniSat stated on its social platform that the UniSat wallet will support Runes and will launch Runes engraving services and trading markets. Among them, the testnet support for Runes is scheduled to be launched on April 16. The mainnet will be launched at block height 840,000 (around April 19).
BounceBit: A snapshot of BounceBit Points Paradise holders will be taken at 8:00 on April 20
On April 17, BounceBit officials posted on social media that it will automatically claim all unclaimed BounceBit points and cards and deposit them into the accounts of early access users, but Boost and Swift cards still need to be claimed manually. In addition, BounceBit will take a snapshot of all early access BounceBit Points Paradise at 00:00 UTC on April 20 (8:00 Beijing time).
Merlin Chain has opened the airdrop query page
On April 17, according to official news, Merlin Chain has now opened the airdrop query page corresponding to Merlin's Seal points.
On April 17, NetMind.AI posted on social media that it had completed the upgrade of token economics. As of April 17, 2024, the circulating supply is 34,571,163 NMT. Effective immediately, 113,000,000 NMT will be issued over the next 10 years. Mining, Staking, and Team Fund categories remain the same, and the Community Fund will be reorganized into Ecosystem Growth and Strategic Investors and Advisors. This change is intended to enhance the long-term viability and functionality of the NetMind ecosystem.
The total maximum supply of NMT is now set at 147,571,163, and about 9.85 billion tokens have been successfully destroyed, reducing the supply by 98.5%.
On April 17, Cipher, co-founder of CKB and CEO of Cell Studio, stated on the social platform that tokens named RGB++ or JoyID have nothing to do with the team. These tokens will be banned from the market to prevent users from being misled.
Magic Eden said it is creating a Runes platform
On April 17, Magic Eden stated on the social platform that it is creating a simple and intuitive Runes trading platform, and users will soon be able to experience Runes trading.
BSquared Network announces mainnet is online
On April 17, according to official news, Bitcoin Layer 2 network BSquared Network said on social platforms that the mainnet is online. Users can bridge BTC from the Bitcoin network to the BSquared Network mainnet, and transfer assets between the EVM address and the BTC address on the BSquared Network mainnet through the account abstraction of the Particle Network.
Injective Bridge is now connected to the OKX Web3 wallet
On April 17, according to the official website, Injective Bridge has been connected to the OKX Web3 wallet. Users can use the OKX Web3 wallet to deposit and withdraw crypto assets and perform cross-chain exchange on the Bridge on the Injective official website.
Injective is an open, interoperable L1 blockchain dedicated to building a DeFi on-chain ecosystem. Injective Bridge is its officially launched bridge, and the OKX Web3 wallet is the industry's leading one-stop Web3 portal.
Omni is open for airdrops, and the chain is temporarily reported at $45.04
On April 17, the Ethereum interoperability protocol Omni Network has opened airdrops and staking. According to on-chain data, OMNI is temporarily reported at $45.04.
Binance will launch OMNI at 20:00 today and open OMNI/BTC, OMNI/USDT, OMNI/BNB, OMNI/FDUSD and OMNI/TRY trading pairs. Seed tags will be applied to OMNI.
On April 17, according to official news, Core announced the launch of non-custodial Bitcoin staking, a feature that makes Bitcoin an asset that can continuously obtain liquidity returns. Non-custodial Bitcoin staking provides all Bitcoin holders with more opportunities to earn returns. Participate in the consensus mechanism of the Core network and strengthen its security without giving up the custody of assets.
Meanwhile, financial technology company DeFi Technologies Inc. announced that its subsidiary Valour has reached a cooperation with the Core Foundation.
Valour, as an exchange-traded product issuer, cooperates with the Core chain; it aims to develop innovative ETP products using Core's unique blockchain technology, launching the first yield-based BTC ETP and the novel Core ETP. In this strategic cooperation, Valour will also operate a verification node on Core. This move will not only enhance the security and efficiency of the Core network, but will also enable Valour to obtain validator rewards. In addition, Valour plans to use the newly launched non-custodial Bitcoin staking product and pledge $100 million in BTC on the Core chain.
CeFi News
OKX will launch Merlin Chain (MERL)
On April 17, according to official news, OKX will launch Merlin Chain (MERL), including:
· MERL deposits will be opened at 18:00 on April 17, Beijing time.
· MERL/USDT spot trading will be opened at 18:00 on April 19, Beijing time.
· MERL withdrawals will be opened at 18:00 on April 20, Beijing time.
HashKey Global will launch Merlin Chain (MERL)
On April 17, according to official news, HashKey Global will launch Merlin Chain (MERL), and trading will be open at 18:00 on April 19, Beijing time.
HashKey Global opened the application for listing yesterday, and Merlin Chain (MERL) is the first token announced to be newly launched.
Financing Express
On April 17, the GEODNET Foundation announced the completion of more than 2 million US dollars in strategic financing, with CoinFund, Pantera Capital, VanEck and Santiago R. Santos participating. The additional funds raised will support the foundation to achieve its short-term goals, including decentralization and developer usability.
It was previously reported that GEODNET completed a financing of US$1.5 million in July 2023, led by Borderless Capital; and completed a financing of US$3.5 million in February 2024, led by North Island Ventures, with participation from Modular Capital, Road Capital, Tangent, Reverie, Borderless and IoTeX.
Centrifuge Completes $15 Million Series A Financing, ParaFi Capital and Greenfield Co-Led
On April 17, RWA lending protocol Centrifuge announced the completion of a $15 million Series A financing, led by ParaFi Capital and Greenfield, with participation from Circle Ventures, IOSG Ventures, Arrington Capital, Spartan Group and Wintermute Ventures. In addition, Centrifuge said it would establish a lending market called Centrifuge Pools on the Base network.
P2 Ventures pledges $50 million to support founders of Polygon ecosystem startups
On April 17, CoinDesk reported that venture capital firm P2 Ventures has pledged $50 million to support founders of Polygon ecosystem startups, a move that can stimulate new projects in the Polygon ecosystem.
P2 Ventures' investment will be provided to founders through Hadron FC, a founder program with campuses in Dubai and New York. The program provides mentorship, legal and regulatory assistance, networking opportunities, and "comprehensive support to help deal with the complexity of startup development and raise funds."
Of the initial 36 projects launched, several "underwent a week of face-to-face collaboration at the Dubai facility." P2 Ventures is a blockchain venture capital firm spun out of Polygon Labs late last year.
Blockchain R&D agency Nebra completes $4.5 million in financing, led by Nascent and Bankless
On April 17, blockchain research and development agency Nebra announced that it had completed $4.5 million in financing in the Pre-Seed and Seed rounds, led by Nascent and Bankless Ventures, with participation from angel investors such as Tim Beiko of the Ethereum Foundation, Kartik Talwar of ETHGlobal, Nick White of Celestia, and Sandy Peng and Haichen Shen of Scroll.
The new funds will be used to advance the development of a shared settlement layer, advance and democratize zero-knowledge proof technology, reduce the cost of proof settlement on Ethereum and other blockchains, and create a new Internet shared settlement layer.
Viewpoint Data
Data: Global CEX Platform Q1 Korean Won Trading Volume Surpassed US Dollar, Reaching US$456 Billion
On April 17, according to Kaiko data, the Korean won trading volume on the global crypto market CEX in the first quarter of this year surpassed the US dollar, reaching US$456 billion, and the total US dollar trading volume in the same period was US$445 billion. Among them, five fully licensed trading platforms: Upbit, Bithumb, Coinone, Korbit and Gopax dominate the local market, with Upbit accounting for more than 80% of the market share most of the time.
US Bitcoin spot ETFs saw a net outflow of $58 million yesterday
On April 17, according to Farside Investors data, the US Bitcoin spot ETF had a net outflow of $58 million yesterday. Among them, GBTC had a net outflow of $79.4 million yesterday, BlackRock IBIT had a net inflow of $25.8 million, and Fidelity FBTC had a net inflow of $1.4 million yesterday.
Less than 400 blocks left before Bitcoin "halving"
On April 17, according to BTC.com, it is estimated that there are 2 days and 15 hours left before the fourth Bitcoin "halving", and there are 398 blocks left.
Block halving refers to the process of reducing the amount of digital currency generated per unit time, mainly achieved by reducing block rewards. So far, the Bitcoin network has experienced three halvings in 2012, 2016 and 2020.
On April 17, according to Cointelegraph, Pavel Durov, the founder of Telegram Messenger, predicted that the strengthening of government surveillance will force the birth of secure communication devices inspired by cryptocurrency hardware wallets and innovate around secure communication hardware devices.
When talking about the company's ownership, Pavel Durov said that venture capital (VC) investment should be avoided to prevent external influence on Telegram's operations. He also revealed that he holds "hundreds of millions of dollars" in fiat currency and Bitcoin, which enables him to start projects and companies with 100% ownership.
On April 17, according to CoinDesk, Goldman Sachs said it warned its clients not to over-interpret past halving cycles. The halving of Bitcoin mining rewards alone did not catalyze the previous bull market, and macro factors may have played a role. Bitcoin's continued rise may depend on a large inflow of spot ETFs.
On April 17, according to CoinGecko's 2024 first quarter cryptocurrency industry report, the total market value of cryptocurrencies continued to rise by 65% in the first quarter of 2024, reaching a high of 2.9 trillion US dollars in March. As of April 2, US spot Bitcoin ETF assets under management (AUM) reached $55.1 billion. CEX spot trading volume reached $4.29 trillion, the highest quarterly trading volume for the top ten spot CEXs since December 2021.
IntoTheBlock: 69% of PEPE holders are currently in profit
On April 17, according to IntoTheBlock data, currently, 69% of PEPE holders are in profit.
On April 17, according to the monitoring of the on-chain data analyst Ember, it is expected that the ETF custody address will have a net outflow of about 924 BTC after the U.S. stock market opens tonight, including:
· Outflow: Grayscale (GBTC) and Ark Invest (ARKB) outflow of about 1,470 BTC;
· Inflow: The remaining nine ETFs inflow of about 546 BTC.
Currently, 11 BTC spot ETFs hold a total of 840,208 BTC (about 52.72 billion US dollars).
On April 17, according to CoinDesk, investment research firm Bernstein said in a research report on Wednesday that before the upcoming halving, the "miner fear factor" is at its peak, and investors are advised to buy stocks of Riot Platforms (RIOT) and CleanSpark (CLSK), which perform well.
Crypto mining stocks continue to underperform Bitcoin so far this year as the halving raises concerns about profitability once rewards are reduced by 50%, Bernstein noted.
Analysts Gautam Chhugani and Mahika Sapra wrote: "Historically, Bitcoin price breakouts have always occurred after halving events, sometimes a few months after the halving. Once mining hashrate adjusts to lower return levels and ETF inflows resume, Bitcoin's bullish trajectory will resume after the halving."
Regulatory News
On April 17, according to The Block, US Senators Kirsten Gillibrand and Cynthia Lummis proposed a stablecoin bill. The bill would require stablecoin issuers to hold a one-to-one reserve of cash or cash equivalents to back their tokens, prohibit unbacked algorithmic stablecoins, and claim that neither issuers nor users can use stablecoins for illegal or unauthorized purposes such as money laundering.
The bill also intends to establish a "federal and state regulatory regime for stablecoin issuers to maintain a dual banking system" and would give federal and state entities authority over stablecoin charters and enforcement.
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