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Review of this week｜50% of the Blast airdrop is distributed to users; Wormhole tokens may be issued in March
Summarized by AI
BlockBeats will organize the key industry news contents of the week (2.26-3.25) in this article, and recommend in-depth articles to help readers better understand the market and learn about industry trends.
Review of important news this week
Bitcoin surges , Bitcoin returned to above US$60,000 after 829 days
On February 27, Bitcoin briefly exceeded US$57,000, setting a new high since January 2022. On February 28, Bitcoin returned above $60,000 for the first time in 829 days, with a 24-hour increase of 5%. On February 29, Bitcoin briefly exceeded US$63,000, with a 24-hour increase of 10.2%. Bitcoin, priced in RMB, officially hit a record high. The sharp rise in Bitcoin has led to a general rise in the Bitcoin ecosystem. Even more strongly, U.S. stock prices also rose sharply. Related reading: "Surge of nearly 50% in 30 days, Bitcoin breaks through the $60,000 mark" , "Bitcoin skyrocketed in 20 days, all the smart money on the chain was there What to buy? 》
The hot search term "Bitcoin" was removed after being listed on Weibo Hot Search
On February 27, the term “Bitcoin” was on Weibo’s hot search list in the morning, once ranking 11th on the list. Later that day, the trending search on Weibo was removed.
FTX has started official liquidation and will compensate customers for Bitcoin at a price of US$16,871
3 On March 3, according to official information, the Joint Official Liquidators ("JOL") of FTX Digital Markets Ltd (in formal liquidation) ("FTX Digital") has notified customer and non-customer creditors of FTX Digital's claims through the FTX Digital claims portal. Proofs of claims were filed in the liquidation and the Joint Formal Liquidators launched the FTX Digital claims portal. Eligible customer and non-customer creditors submitted claims in the FTX Digital liquidation. Users can view the balances in their FTX accounts on the website (in accordance with the Joint Formal Liquidation). records) and submit electronic claims in FTX Digital liquidation (the "Bahamas Procedure"). Only customer and non-customer creditors who file electronic claims before the prescribed deadline of May 15, 2024 (the "Claims Deadline") will be eligible for distribution in the Bahamas Proceedings (provided that the claim is admitted as eligible for distribution ).
The FTX digital claims portal is managed by PwC on behalf of the joint formal liquidators, with the first interim distribution expected to be paid in late 2024 or early 2025. The Joint Official Liquidators will provide further information regarding the distribution in due course. According to PwC’s official website, under Bahamian law, there is an obligation to allocate each qualifying claim, regardless of size, to U.S. dollars. Claims against major crypto assets on FTX are currently priced at $16,871 for BTC, $1258 for ETH, $16.24 for SOL, and $286 for BNB.
Wormhole (W) tokens may be officially issued on March 20
Informed sources: SBF recommends prison guards to invest in SOL
On February 28, the New York Times cited informed sources Sources report that FTX founder SBF has been detained at the Metropolitan Detention Center in Brooklyn since last summer and has been dealing with related cases most of the time.
The source also said that SBF also shared advice on the crypto market with prison guards, recommending investing in the digital currency Solana (SOL).
PlanB: The fund-raising phase is over and the bull market has begun
JPMorgan Chase predicts the lowest price drop after Bitcoin halving in April To $42,000
On February 29, analysts at JPMorgan predicted that the Bitcoin halving event planned for April could cause the price of Bitcoin to fall to as low as $42,000. The halving event will reduce the reward for Bitcoin miners from the current 6.25 BTC per block to 3.125 BTC. This reduction will negatively affect the profitability of miners and lead to an increase in the cost of Bitcoin production. “This $42,000 estimate is also the level we foresee Bitcoin prices may trend toward once the excitement surrounding the Bitcoin halving fades after April,” the analysts said. Bitcoin’s current price is around $62,820.
Blast mainnet is online, 50% of the airdrops are allocated to users, and ecological projects are blooming
On March 1, the Blast mainnet was officially launched. Early access users can bridge to mainnet and use Dapps on Blast. 50% of the Blast airdrop is allocated to Blast Points users, and the other 50% is allocated to Blast Dapp. "GOLD" airdrops will be allocated to Dapps every two weeks. Dapps can choose to retain the airdrops, but many excellent Dapps have promised to distribute all airdrops to users. Blast TVL has exceeded US$2.3 billion, and some ecological projects have announced their access to the main network, such as Owlto Finance or SynFutures V3. Ecological projects have successively launched activities to win interactive points and airdrops. The activities are very popular and the community is highly motivated to participate. Related reading: "Blast mainnet is online, which ecological projects have been announced airdrop? (Continuously updated)》, 《Layer2 New Chain Blast With the mainnet debut, can it stand out from the "Volume King Circuit"? 》
OKX launched GPT (QnA3.AI) on February 28th
OKX listed QnA3.AI's GPT token on its spot market at 12:00 PM (UTC) on February 28, opening trading pairs with USDT. Deposits for this token open on February 27 at 6:00 AM (UTC). QnA3 is an AI-driven one-stop Web3 knowledge engine and transaction portal. It is a well-known Web3 DApp in the currently popular AI sector. As a Q&A platform for AI+CRYPTO, GPT has filled the gap in AI targets. As the project is listed on OKX, it is expected to become another high-potential project in the AI sector. Related reading: "Detailed explanation of OKX Jumpstart new project QnA3.AI - a must-have for residents of the Web3 world AI Agent》
Arweave released the public test network Arweave AO, driving AR to rise by 70% in a single day
On February 27, Arweave releases the public test network Arweave AO, which is used to design computing layers for social media and AI. In the future, the team expects to conduct multiple audits of Arweave AO before the final mainnet in 2024. The project token AR rose 70% in a single day. Related reading: "What are the parallel computer solutions AO launched by Arweave worth paying attention to? details? 》
Binance Labs invests in Babylon to support the development of Bitcoin staking
On February 27, Binance Labs announced its investment in Babylon to support the development of Bitcoin staking. He Yi, co-founder of Binance and head of Binance Labs, said: "Bitcoin staking introduces an important new use case to the industry and marks a major step forward in the integration of Bitcoin and the proof-of-stake economy. The Babylon chain is built using the Cosmos SDK and provides a powerful platform for PoS chains. Provides Bitcoin timestamp services and acts as a control plane for synchronization between the Bitcoin network and the PoS chain. It is responsible for facilitating BTC staking, final round participation, and tracking validator staking information, ultimately acting as a link between the Bitcoin PoW world and the PoS chain. Channel.
Telegram: Advertising platform will open in March and will use the TON blockchain for payments and withdrawals
According to Telegram official news, the Telegram advertising platform will be officially open to all advertisers in nearly a hundred new countries. Channel owners in these countries will receive 50% of the revenue from Telegram displaying advertisements in their channels. of commission.
Officials stated that in order to ensure that advertising payments and withdrawals are fast and secure, the TON blockchain will be used exclusively, and the officials will share the revenue with channel owners, which will create a virtuous cycle where content creators will be able to cash out their Toncoin, or Reinvest it into promoting and upgrading their channel.
Binance will list Axelar (AXL) and add a seed tag
Binance will list Axelar (AXL) at 19:30 on March 1, 2024 (Eastern Eighth District time), and open the following spot trading pairs AXL/BTC, AXL/USDT, AXL/FDUSD, and AXL/TRY. The AXL recharge channel is now open; AXL withdrawal is expected to be open at 19:30 on March 2, 2024 (Eastern Eighth District time).
Musk sued OpenAI and its CEO Altman
On March 1, Tesla CEO Lon Musk filed a lawsuit in San Francisco Superior Court against OpenAI and its CEO Sam Altman for breach of contract. Musk said in the lawsuit that Altman and OpenAI violated an agreement made when the artificial intelligence research company was founded to develop technology to benefit humanity rather than profit. Musk claimed that OpenAI’s recent relationship with tech giant Microsoft undermined the company’s original commitment to public, open source general artificial intelligence.
This week’s popular articles
"Surge nearly 50% in 30 days, Bitcoin breaks through the $60,000 mark"
On February 28, Bitcoin once again exceeded US$60,000 after 829 days, rising nearly 50% in the past 30 days. Bitcoin ecological tokens also generally rose, with the entire network liquidating $265 million. Meanwhile, U.S. stock prices rose sharply, with Coinbase and Microstrategy rising 27.96% and 109% respectively. Bitcoin ETF holdings account for 3.73% of the total supply of Bitcoin, and the maturity of the spot ETF market is also helping Bitcoin prices rise. "Sister Mumu" bluntly stated that Bitcoin is replacing gold. In addition, the Federal Reserve FOMC meeting in June and the U.S. presidential election at the end of the year are also seen as positive factors for Bitcoin prices.
"Exclusive interview with Dr. Golden Dog: How to find Golden Dog Alpha in the Bitcoin ecosystem?" 》
Last year Ordinals ignited the Bitcoin ecosystem. Before its rise, a small number of people had quietly discovered this "gold mine", Dr. Golden Dog @ordjingle is one of them. He proposed to the founder of Ordinals to establish the Ordinals Chinese community and became the only Chinese administrator. Recently, the editor interviewed Dr. Golden Dog and learned about the changes and plans of Ordinals through him. How did he discover and judge alpha?
When Bitcoin with a market value of $1 trillion can With an increase of 50% in one month, Markus Thielen's market analysis report has been widely spread in the community. Of course, everyone is more familiar with his title-analyst of Matrixport. Markus's Bitcoin report has been quite accurate in predicting the price of Bitcoin in recent months. It seems that both the rise and fall are within his calculations. Not long ago, Markus even analyzed that Bitcoin was at risk of falling, and the market fell in response, which made Markus famous. Big noise. When Bitcoin has reached $60,000, less than 10% away from the previous high of $69,000, BlockBeats chatted with Markus. The most important information for everyone is that this unusually accurate analyst believes that Bitcoin can reach $125,000 this year. Of course, beyond prices, Markus also talked about the impact of ETFs and his views on the market.
"The confusion of Bitcoin Layer 2 is actually a good thing"
Recently, for Bitcoin Layer 2 The definition once again aroused heated discussion in the community. Bitcoin Magazine proposed three definitions of Layer 2: using Bitcoin as a native asset, using Bitcoin as a settlement mechanism, and demonstrating dependence on Bitcoin functions. Many community members feel differently. In January this year, the SatoshiVM project sparked controversy, and it also competed with the IDO platform due to interest disputes, exposing the opacity of the market. Nonetheless, the current chaos also shows that the community is discussing, reflecting, and working towards defining consensus. In the in-depth discussion on the Bitcoin Layer 2 track, diverse viewpoints drive the industry forward, and chaos is the road to progress.
Bitcoin price exceeded 60,000 US dollars, reaching a maximum of 64,037 US dollars, and the entire network encryption market liquidated more than 600 million US dollars. Bitcoin is up more than 7% this week and 44% this month, with spot Bitcoin ETF trading continuing to increase, with volume reaching $7.6 billion. Some analysts pointed out that the participation of retail investors in this rally was low, and institutional investors may dominate the market. Morgan Stanley considers adding spot Bitcoin ETF to its brokerage platform.
"AI+Yuanverse+chain games, how do the Ultiverse invested by Binance interact?" 》
On February 19, Ultiverse, an AI-driven one-stop platform for Web3 game production and publishing invested by Binance Labs, announced the launch of Ulti-Pilot. Ulti-Pilot is the entrance to MetaFi, connecting users with the micro world and serving the Ultiverse ecosystem. Ulti-Pilot allows users to earn Points, SOUL, and other in-game assets from the Ultiverse ecosystem at zero cost. This article describes the detailed interaction process.
"AI concept coins are soaring. Are you on board these 10 Alpha projects?" 》
The AI sector has experienced a surge recently, and the community believes that it is related to the launch of the "Sora" model by OpenAI. In addition to established projects, many early-stage AI projects with small market capitalization have also achieved good gains. This article counts 10 Alpha projects, which cover computing power rental, infrastructure, AI intelligent robots and other fields. Investors need to note that most of these projects are still in the early stages of development, have low liquidity and high volatility, and involve certain risks.
"How much money has entered the Bitcoin ETF after 40 days?" 》
Since the SEC approved the Bitcoin ETF application, 11 Bitcoin ETFs have increased their net holdings of 110,000 Bitcoins, with a total size of US$37.21 billion. However, at the same time, Grayscale reduced its holdings of 175,000 Bitcoins, while BlackRock increased its holdings by 127,000. Grayscale's reduction in positions is mainly due to management fees that are about 6 times higher, while BlackRock and Fidelity Investments have become the most competitive ETF issuers, with the total funds of the three currently accounting for 90.6% of ETFs. Coinbase hosts 86.9% of the ETF’s Bitcoin and is expected to bring it more than $30 million in revenue in 2024. Overall, the launch of the Bitcoin ETF has attracted market attention, but factors such as capital allocation and institutional competition also affect its impact on the overall crypto market.
Taiko is based on zkRollup The Ethereum Layer 2 network has successfully raised US$22 million and plans to launch the mainnet in early 2024. This article introduces Taiko's detailed interactive tutorial, and this interaction costs 0 and has a potential profit of up to $9,000. Specific interaction steps can be found in the link.
The upcoming big market There are three major differences between the bull market and the historical bull market, and trading strategies need to be adjusted. First, with the crypto market cap now reaching $2 trillion, BTC prices are well above where BTC was at just $10,000 in early 2020. Secondly, compared to the negative reports before the start of previous bull markets, the current market is more positive. Finally, market participants and professional institutions have increased, and market professionalism has improved. In response to these differences, it is recommended that investors consider specialization and cooperation, deepen their expertise in projects or ecology, and pay attention to valuation premiums and trend research. In times of market abundance, these strategies help adapt to the characteristics and challenges of the current crypto market.
"Rising more than 50% in 24 hours, is Arweave going to be the "Ethereum killer" again? 》
On February 27, Arweave released the public test network Arweave AO, and then the AR token price exceeded $24, a 24-hour increase of 51%. This public beta marks its transition from storage business to Web3 full-stack protocol. Arweave AO is a hyper-parallel computer that supports large-scale and verifiable computation, allowing AI and large language models to run in smart contracts. Although growth in Arweave's storage business has slowed, new contract growth of 1,063% reflects the potential it still has to grow. The founder of Arweave expressed confidence in competing with Ethereum and will bring more insights to the public chain competition landscape in the future.
RWA (Real World Assets) has attracted much attention in Web3, and the Parcl project is one of them. By building regional real estate price index trading products, Parcl has expanded to 10 regions and plans to launch more cities in the future. The project is about to launch the token PRCL, and its TVL has exceeded US$75 million, a three-fold increase from the beginning of the year. The airdrop program may involve NFT holders, adding to the appeal. Parcl uses a self-developed index derivatives platform with a professional team, but its low market volatility may limit potential returns. The fundamentals of the project are good, and the token strategy will become the key to subsequent development.
"The halving is bullish, but betting on BTC is no longer good"? 》
The main reasons for Bitcoin’s current rise include the reduction in supply caused by the halving and the accumulation of spot ETFs faster than the mining speed. Although halvings are considered a catalyst for Bitcoin's price growth, the past two halving cycles have shown the cryptocurrency, rather than Bitcoin, benefiting more. Considering that Bitcoin’s market capitalization has reached $1 trillion, historical growth data points out that this increase may be lower than previous halving cycles, and most of the gains have already been realized. Aside from Bitcoin, other cryptocurrencies typically perform more strongly during Bitcoin bull markets. Global liquidity cycles and rising correlations with Bitcoin may also impact its price. The halving event will fundamentally change the economics of Bitcoin mining, but past data shows that the cyclical effect of the Bitcoin market is gradually weakening.
"The second part of the historical research on airdrops: What is the future of the Lu Mao Party?" 》
Despite the bitterly cold bear market in 2023, many project developers have distributed large-scale airdrop rewards to users. From Blur to Blast, the way the project side measures user loyalty has changed from the initial transaction volume to the user's deposit amount and duration. The current mainstream points system can be subdivided into two categories, namely points based on transaction volume and points based on deposits. The airdrop standard has changed from interactive to deposit-based. In the future, users’ accumulated funds will be the main standard, which may become the norm. This reflects the game and changes in needs between users and project parties. For the Wool Party, the golden age of mass airdrops and picking up money everywhere has become history.
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