Headlines
Grayscale has submitted a revised Form 19b-4 to the SEC for its Ethereum Trust (ETHE), which is an important step for the listing of ETHE on NYSE Arca.
Trading volume on Solana’s decentralized exchange (DEX) reached a historical high of $3.8 billion on March 16, according to data from DeFiLlama.
BOME, a project on the Solana network, reached its peak in active addresses on the day of its launch, with 1.19 million active addresses. The number of active addresses increased by 115.66% between February 14 and March 14. As a result of the BOME hype, the number of newly issued Meme tokens on the Solana network has surged in the past two days, with 8,849 new SPL tokens added on March 14, surpassing the previous peak of 9,690 tokens in the past month.
The founder of ether.fi, Mike Silagadze, stated on Discord that the large airdrop received by Sun Yuchen’s address is in accordance with the rules. He explained that the airdrop design of the “countdown event” increases the total airdrop amount by 0.125% of the supply ratio for every 50,000 ETH staked. Therefore, Sun’s large deposit did not reduce the airdrop share of others but actually increased the total airdrop. As part of the event, ether.fi will not only match an additional 0.125% of tokens for new depositors but also for existing users, allowing them to receive an additional 7.7 million ETHFI tokens.
Ether.fi announced that its airdrop eligibility checking tool has been updated and that the first season airdrop will consist of 68 million tokens, accounting for 6.8% of the supply.
The Runestone airdrop has been completed, with a total of 112,383 tokens distributed, according to an announcement on X platform by OrdinalsBot.
Industry News
Investors have withdrawn a total of $738 million from Bitcoin investment tools in Germany, Canada, and Sweden this year, according to CoinShares. This outflow is attributed to the lower management fees of Bitcoin spot ETFs in the United States. Most exiting investors are expected to switch from one Bitcoin product to another to seek lower fees. However, the rate of outflow seems to be slowing down.
Starbucks announced that its Web3 customer loyalty program, Starbucks Odyssey, which was in the testing phase, will end on March 31. The company stated that it is preparing for the next steps while continuing to develop the program.
Project News
The largest holder of BOME has sold a portion of their holdings, exchanging 190 million BOME tokens for 19,640 SOL tokens, making a profit of approximately $3.76 million. The sale caused a short-term 12% drop in the BOME token price. The address still holds 1.242 billion tokens, worth about $27.58 million.
Arbitrum has initiated a vote on the “Game Catalyst Program” proposal. The proposal aims to allocate 200 million ARB tokens to game projects within the ecosystem to promote development. The purpose of the vote is to evaluate whether the DAO has reached a consensus to determine whether to implement and fund the Game Catalyst Program and create a corresponding fund.
OP Sepolia will be upgraded to support the full-featured OP Stack Fault Proof version on March 19, according to a post by OP Labs on X platform. This upgrade will introduce groundbreaking changes that will affect bridging, CEX, and custom solutions for withdrawals. Developers are requested to update their logic to support fault proofs, update withdrawal monitors, and update dispute monitors. It is important to note that withdrawals between OP Sepolia and Sepolia will no longer be immediate as they will use fault proof mechanisms.
Saga, a project in the Cosmos ecosystem, has announced that it will airdrop SAGA tokens to CryptoPunks and Bored Ape Yacht Club (BAYC) holders.
Opentensor Foundation has announced that it will release the Bittensor roadmap next Thursday. The roadmap may include plans to expand Bittensor beyond the root network by 2024, implement sudo-style governance, and adopt a PoS mechanism.
Mask Network has announced that it will soon launch a token staking program. By staking MASK tokens, participants will have the opportunity to earn tokens from core partner projects within the Mask Network ecosystem. The team aims to create opportunities for users to explore blockchain services and applications by providing additional token rewards. Mask Network is dedicated to building a supportive and collaborative ecosystem to pave the way for the future of decentralized social networks.
DAO Maker has announced its expansion to the Solana network and plans to launch four Solana IDO projects. They will also add $2 million of SOL liquidity pool on Raydium and launch YOURAI on Raydium next Tuesday.
The founder of ZigZag, Kedar, has revealed that the revenue of ZKasino was falsified, cautioning users to be careful with their ICO activities. He stated that this has been the main reason for ZigZag’s limited progress. Kedar plans to continue operating the project without the individuals responsible for the difficulties, but the specific operational results cannot be guaranteed. He also holds ZKasino founder (Derivatives Monke) accountable for the loss of investor funds entrusted to the project.
Pacmoon, a Meme project in the Blast ecosystem, has announced that PAC Aridrop 1 claiming is now live, and Aridrop 2 will be launched in less than 12 days. The Aridrop 2 page states that creating content about Pacmoon, such as more views, will lead to more PAC tokens. The rankings update every 30 minutes.
Milady founder Charlotte Fang (alias Krishna Okhandiar) has claimed that her device system was hacked, resulting in the theft of all imported wallets. Community users have observed that the Milady treasury address, containing millions of dollars worth of ETH and NFTs, has been transferred to a new wallet, and the hacker is selling the related NFTs. Charlotte stated that the impact of the incident is still being evaluated, and technical analysis will be released later. The initial assessment indicates that the losses mainly involve Fumo LP assets and NFTs pledged in NFTX. The ownership of the NFT contract itself is still securely stored in a hardware wallet.
Investments
Decima Fund, operated by Decima GP Limited, has raised approximately $30 million in funding. The fund will focus on the Web3 industry and has already identified 10 investments. The fund is operated by gumi, MZ Cryptos, SBI Holdings, and Animoca Brands. With this capital, Decima GP Limited aims to expand the influence of Japanese Web3 companies globally and support international players entering Japan.
NFT gaming studio Carbonated, the developer behind the MadWorld NFT shooting game, has raised $11 million in its Series A funding round. Com 2 uS led the funding, with participation from a16z, Bitkraft Ventures, Cypher Capital, Blocore, Goal Ventures, and WAGMI Ventures. MadWorld combines third-person shooter action with territory control gameplay based on NFT land assets. The game is currently in early testing registration and will be officially launched to the public at some point in 2024.
Cryptocurrency derivatives trading platform D2X has raised $10 million in its Series A funding round, with Point72 Ventures leading the investment. Other participants include GSR Markets, Tioga Capital, Fortino Capital, Jabre Capital Partners, Picus Capital, and TRGC. D2X has obtained a derivatives business license from the Dutch Authority for the Financial Markets (AFM) and is set to launch in the second quarter of this year.
Superchain App Accelerator, a program aimed at supporting the development of Web3 games, has received $3 million in funding from Thirdweb and Optimism. The accelerator program aims to help developers create Web3 applications and support seamless, user-centered gaming experiences. The program provides funding for developers on the OP Mainnet, Base and Zora, Mode, and Fraxtal networks. The first phase has already begun, with plans to expand to Lisk and Redstone in the future.
Honeypot Finance, a project in the Berachain ecosystem, has completed its seed funding round. The funding details have not been disclosed. DEXT Force Ventures, Candaq Ventures, PudgyAlpha, Sanyuan Capital, 0x sky 404, and Khans Kitchen are among the participants.
People’s Voice
Changpeng Zhao, the CEO of Binance, predicts that Bitcoin will surpass $80,000 as continuous inflows into spot Bitcoin ETFs drive its price to new record highs. He believes that more donor-advised funds and family offices will allocate to Bitcoin ETFs in the short term.
Kris Marzsalek, the CEO of Crypto.com, stated in an interview with CNBC’s Squawk Box that the inflow of funds into spot Bitcoin ETFs has driven the rise of cryptocurrencies. He also believes that the current price correction may be in a healthy phase similar to December 2020.