Rhythm Evening News | 50% of Merlin airdrop tokens will be unlocked in the first month; Binance launches new token issuance platform Megadrop

Featured News:

1. Binance launches new token issuance platform Megadrop, with BounceBit (BB) as the first project;

2. BounceBit announces BB token economics, with staking rewards accounting for 35%;

3. JPMorgan Chase: Bitcoin may fall after "halving" because the market is still overbought;

4. Merlin airdrop tokens will be unlocked in batches, with 50% unlocked in the first month;

5. TON will release a major announcement, with posters featuring logos of projects such as Tether and STON.fi

Price Observation

Bitcoin falls below $61,000, down 4.82% in 24 hours

According to OKX According to market data, Bitcoin fell below $61,000 and is now quoted at $60,932, a 24-hour drop of 4.82%.

RB rose nearly 50% in 24 hours, temporarily reported at $0.2697

According to market data, Runes Protocol cross-chain bridge RunesBridge (RB) once broke through $0.31 this morning and then fell back. It is now quoted at $0.2697, with a 24-hour increase of 49.47%.

Runes Glyphs (RG), a project on the same track, rose more than 240% in 24 hours, temporarily reported at $0.8918.

Transaction Tracking

An early Ethereum investor sold 2,000 ETH and still holds 29,700 ETH

According to Spot On Chain monitoring, an early Ethereum investor sold 2,000 ETH 6 hours ago, equivalent to about 6 million US dollars.

The whale received 33,213 ETH on July 30, 2015, with an ICO price of about $0.31. So far, it has transferred 5,110 ETH to Kraken or DEX. It still holds about 29,700 ETH, equivalent to about $89.1 million.

Four addresses recently deposited 900 BTC to Binance, which will make a profit of about $13.91 million if sold

According to Lookonchain monitoring, in the past 3 hours, 4 wallets have deposited 900 BTC (about $55.17 million) to Binance.

These 900 BTC were acquired from Binance 3 months ago. If sold, they will realize a profit of about $13.91 million.

A whale has locked up 800,000 PENDLE in the past two weeks, about $4.72 million

According to @ai_9684xtpa, in the past two weeks, a whale has locked up 800,000 PENDLE (about $4.72 million), with an expiration date of April 9, 2026.

A whale withdrew 300 BTC from Binance 50 minutes ago, about 18.26 million US dollars

According to Lookonchain monitoring, 50 minutes ago, a whale withdrew 300 BTC from Binance, about 18.26 million US dollars.

Since March 21, the whale has withdrawn a total of 3,760 BTC (about 242.55 million US dollars) from Binance, with an average price of 64,508 US dollars.

A whale bought 501 WBTC in the past 30 minutes, about 30.76 million US dollars

According to Spot On Chain monitoring, in the past 30 minutes, a whale exchanged 30.76 million DAI for 501 WBTC, with an average price of 61,436 US dollars per coin.

GMT early investors or contributors transferred 30 million GMT to Binance 2 hours ago

According to @ai_9684xtpa monitoring, 2 hours ago, GMT early investors or contributors transferred 30 million GMT to Binance, about 6.79 million US dollars.

This address received 18 million tokens distributed by the StepN TokenTimeLock contract a week ago.

Project Dynamics

Faraway acquires two major game IPs "HV-MTL" and "Legends of the Mara" from Yuga Labs

Game studio Faraway announced on the X platform the acquisition of two major game IPs "HV-MTL" and "Legends of the Mara" from Yuga Labs. The acquisition is part of Faraway's strategy to build an interoperable game ecosystem. In the future, new scoring systems and more integrations will be introduced in these two games to further enhance the IP.

Ordinals founder confirms that the Runes protocol only hard-codes rune number 0

Ordinals founder Casey Rodarmor said in a Discord community meeting that the Runes protocol only hard-codes rune 0, which is "UNCOMMON•GOODS". The other 9 token names are no longer hard-coded into the Runes protocol because there is no good creativity.

According to Casey's previous plan, the Runes protocol will "hard-code" runes 0-9, that is, all the first 10 "runes".

Stakeland Pre-Rune Tasks Are Online

According to the official announcement, the NFT project Memeland announced that its social staking protocol Stakeland Pre-Rune tasks are online. Users can obtain Runecoin by completing tasks or staking MEME.

Solana Ecosystem Game Earth From Another Sun and Solana Labs cooperate to build the game development tool GameShift

According to the official announcement, Solana Ecosystem Game Earth From Another Sun and Solana Labs have reached a technical cooperation to build the game development tool GameShift. At the same time, they jointly developed the virtual economic system in the game and realized non-custodial smart wallets, seamless asset creation, in-game credit card payments, encrypted payments, in-game prop casting and other functions.

DePIN platform Nodle is about to launch the zkSync network

DePIN platform Nodle announced that it will be launched on zkSync Era, aiming to introduce the fastest-growing DePIN technology to the Ethereum ecosystem.

Nodle's first move to launch on zkSync will be to deploy its new Click camera app, the world's first digital trust network. Click will be able to process transactions off-chain without sacrificing security and decentralization, while significantly increasing throughput and reducing transaction costs. Nodle uses Blockchain technology for media authentication to combat false information, making significant progress with the scalability and efficiency of zkSync.

Zypher Games has changed its name to Zypher Network and launched a high-performance game engine

Web3 infrastructure developer Zypher Games tweeted that it has changed its name to Zypher Network and moved to a new domain name. Officials said that its product line includes Secret Engine, a high-performance game engine driven by ZKP and AI, AW Engine, and Zytron, a dedicated L3 deployment kit customized for on-chain games.

Mining Pool Foundry USA Pool: If the first Satoshi in the halving block is mined, it will be monetized and distributed to members

Enterprise-level Bitcoin mining pool Foundry USA Pool stated that if it mines the first Satoshi in the halving block, it will strive to monetize and distribute 100% of the proceeds to its Pool members.

The proceeds will be distributed to existing subaccount payment addresses through Foundry USA Pool, and will be distributed according to the members' hash rate within 24 hours on the day of the halving.

Merlin airdrop page has shown the number of tokens that can be collected

According to the official page data, the Merlin Chain airdrop page has shown the number of tokens that can be collected. The preliminary estimate is 68 points for 1 token.

Merlin airdrop tokens will be unlocked in batches, 50% unlocked in the first month

According to official news, Merlin airdrop tokens will be unlocked in batches: 50% unlocked in the first month, 25% unlocked in the second month, and then 12.5/6.25/3.125/3.125 will be unlocked in six months.

In the first 6 months, only users' coins will be circulated in the market (the team locks for 24 months and then releases linearly, which is first locked for 24 months + then released for 24 months = 48 months, and institutions also need 24-48 months to unlock; please wait for subsequent activities to announce the tokens of the ecosystem).

Modular AI chain 0G Labs announced that its testnet Newton is online

According to official news, modular AI chain 0G Labs announced that its testnet Newton is online. Newton is an ultra-high data throughput blockchain optimized for on-chain artificial intelligence.

Swell announced that rswETH will be the native Gas token of the Swell L2 chain

According to official news, Ethereum liquidity re-pledge protocol Swell announced that rswETH will be the native Gas token of the Swell L2 chain.

Former Coinbase executive Nana Murugesan joins Matter Labs as president

According to Bloomberg, 45-year-old Nana Murugesan, who previously led Coinbase Global Inc.'s international expansion, has joined zkSync developer Matter Labs as its first president, hoping to guide and promote the maturity of this blockchain startup.

Murugesan announced his resignation from Coinbase as vice president of international and business development in November last year. He had been responsible for overseeing the expansion of the largest US cryptocurrency trading platform in Europe, as well as asset listings and business partnerships.

WEEX Weike platform currency WXT passed BEOSIN smart contract security audit

According to official news, the platform currency WEEX Token (WXT) issued by the cryptocurrency trading platform WEEX Weike has successfully passed the smart contract security audit of the blockchain security company BEOSIN.

TON will release a major announcement, and the poster includes Tether, STON.fi and other project logos

According to official news, TON posted on social media that it will release a major announcement soon. The poster includes Tether, AMM protocol STON.fi, staking protocol Tonstakers, and Fanzee Labs, a network studio that provides sports and entertainment game experience.

BounceBit announces BB token economics, staking rewards account for 35%

According to Binance research report information, the total amount of Bitcoin re-staking public chain BounceBit token BB is 2.1 billion, the initial circulation is 409.5 million (accounting for 19.5% of the maximum supply of tokens), and the Binance Megadrop quota is 168 million (8% of the maximum supply of tokens).

BB token economics are: Binance Megadrop 8%; liquidity provider 3%; testnet incentive 4%; consultant 5%; team 10%; BounceClub and ecological reserve 14%; investor 21%; staking rewards 35%.

io.net announced that it will remove some virtual GPU accounts

Solana Ecosystem DePIN Protocol io.net officially stated that it has been aware of the abuse of virtual GPUs on the network, and its security team has automatically marked these accounts, and some of them will be removed today.

io.net will continue to keep some accounts in the network so that its detection methods are protected. Virtual GPUs will not be rewarded, and real GPUs will not be diluted. io.net reminds users not to buy virtual GPUs sold by sellers.

Meson Finance and Taproot Chain have reached a strategic partnership

According to official news, Meson Finance and Taproot Chain have reached a strategic partnership. Meson Finance will provide Taproot Chain with a stable and efficient full-chain bridge protocol. The two parties will continue to cooperate in the Layer2 cross-chain field and jointly build a Bitcoin ecosystem to realize application value.

Gavin Wood publishes proposal for the future of Polkadot in Gray Paper

Polkadot founder Gavin Wood posted on social media, "I am very happy to release the initial Jam specification in the Gray Paper: A proposal for the future of Polkadot."

SafePal announced that it will soon complete the integration of the Runes protocol, and will successively launch Runes, RGB++ and other inscriptions and trading markets

According to the official announcement, SafePal, a Web3 full-stack wallet invested by Binance, AnimocaBrands, and Supserscrypt, announced that it has completed the integration of the Runes protocol. In the next few weeks, Runes, Atomicals, Ordinal, RGB++ inscriptions and trading markets will be launched one after another, and support will be provided in SafePal's App, browser plug-in, and hardware wallet. This means that SafePal is the earliest full-stack wallet that supports the Runes protocol and ecosystem, and SafePal's hardware wallet is also the world's first hardware wallet product that supports this ecosystem.

CeFi News

Binance Pool Launches Nervos Network (CKB) Pool

According to the official announcement, Binance Pool has launched Nervos Network (CKB) mining services. During the event (08:00 on April 18 to 08:00 on May 18), all CKB pool users can enjoy zero fees for CKB mining.

Binance Converts $1 Billion User Asset Protection Fund to USDC

Binance announced that it will transfer 100% of the assets of the User Asset Protection Fund (SAFU) to USDC. Using a trusted, audited, and transparent stablecoin for SAFU can further enhance its reliability and ensure its stability at $1 billion.

The SAFU Fund is an emergency insurance fund established in 2018 to protect Binance users in extreme situations, and it remains an important component that distinguishes it from other trading platforms. Over the years, Binance has continuously monitored the size of SAFU to maintain the balance at a level sufficient to protect our users. Although it fluctuates, the level is generally set at $1 billion.

OKX Web3 Wallet Cryptopedia Issue 16 Launches OverProtocol Interaction Tasks

According to the official announcement, the 16th phase of OKX Web3 wallet Cryptopedia launched OverProtocol interactive tasks. During the event, users can participate in and verify interactive tasks related to OverProtocol, and receive 10 OVER (test network tokens) every day. In addition to having a chance to obtain OverProtocol's future potential rewards, they can also participate in OverProtocol's staking activities on the Beta test network.

Binance will support the Stacks network upgrade and hard fork, and will suspend STX deposits and withdrawals at 20:00 on April 22

According to the official announcement, Binance is expected to suspend the token deposit and withdrawal services of the Stacks (STX) network at 20:00 on April 22 to support its network upgrade and hard fork.

The Stacks team will perform a network upgrade and hard fork at Bitcoin block height 840,360 (expected on April 22).

Binance's SAFU fund created in the bear market may have "doubled" and has been rebalanced to $1 billion

Binance's SAFU fund previously created in the bear market may have "doubled". According to Spot On Chain monitoring data, after Binance announced today that it would convert user security fund assets (SAFU) to USDC to enhance stability, a total of 16,277 BTC (about $1 billion) and 1.36 million BNB (about $749 million) have been transferred from 2 SAFU wallets and deposited back into CEX's hot wallet.

Binance CEO: Binance obtains Dubai Virtual Asset Service Provider License

According to Bloomberg, Binance Holdings Ltd. has obtained its long-sought full cryptocurrency license in Dubai after co-founder CZ agreed to give up voting control of the local entity, according to people familiar with the matter.

Binance launches new token issuance platform Megadrop, with BounceBit (BB) as the first project

According to the official announcement, Binance has launched a new token issuance platform Megadrop for new and old Web3 users. Users can apply for BNB regular products on the Binance Megadrop platform and/or complete the project's tasks in the Binance Web3 wallet to interact directly with selected project parties to obtain airdrop rewards.

The first project to be launched on Binance Megadrop is BounceBit (BB), a BTC re-staking public chain. The maximum supply of BB is 2.1 billion, and the initial circulation is 409.5 million.

Tether announced the establishment of four new independent business units: data, finance, energy and education

According to the official announcement, Tether announced the establishment of four new independent business units, including data, finance, energy and education.

Tether Data (Strategic Investment in Technology) focuses on the development and strategic investment of emerging technologies such as artificial intelligence and peer-to-peer platforms;

Tether Finance (Digital Asset Services) is the cornerstone of Tether's traditional stablecoin products and financial services, committed to promoting technology and democratizing the global financial system;

Tether Power (Sustainable Bitcoin Mining and Energy) is involved in sustainable Bitcoin mining operations to ensure the integrity of the world's most powerful currency network;

Tether Edu (Digital Education and Transformation) is committed to expanding the popularity of digital skills education around the world.

Views and data

US spot Bitcoin ETFs had a net outflow of $165 million yesterday, which has been a net outflow for four consecutive days

According to Spot On Chain data, US spot Bitcoin ETFs had a net outflow of $165 million yesterday, which has been a net outflow for four consecutive days.

Only BlackRock iShares Bitcoin Trust IBIT had a single-day net inflow of $18.1 million, but it was also the lowest level in the past 37 trading days.

Grayscale Bitcoin Trust GBTC's single-day outflow increased from $79.4 million to $133 million (a 1.7-fold increase compared to yesterday).

A certain address lost more than $177,000 due to phishing attacks

According to Paidun monitoring, the 0x28DB...50e7 address suffered a phishing attack, resulting in a loss of $177,400 worth of cryptocurrency, including 30,846 TRUMPs (approximately $154,000).

2024 Q1 Korean won's cumulative trading volume on CEX surpasses the US dollar

According to a report by Kaiko, a cryptocurrency market analysis company, in the first quarter of 2024, the Korean won's trading volume on CEX was US$456 billion, while the US dollar was US$445 billion. The improvement in the macroeconomic environment and fierce competition among Korean CEXs boosted the trading volume in the Korean market to its highest level in more than two years in early March this year.

Matrixport: The continued decline in Bitcoin funding rates indicates that traders have closed long positions

In its latest report, Matrixport said that Bitcoin's funding rate continues to decline ahead of the upcoming halving event. The decline in funding rates indicates that traders have closed long positions and the market is now in a relatively light position through the derivatives market.

JPMorgan: Bitcoin may fall after "halving" as the market is still overbought

According to CoinDesk, a research report from JPMorgan Chase (JPM) said that Bitcoin (BTC) prices may weaken after halving rewards. Halving is an event every four years that slows the growth of Bitcoin supply. It is expected to occur around April 19-20.

Based on its analysis of Bitcoin futures positions, JPMorgan believes that the world's largest cryptocurrency faces downside risks after the halving as the market remains overbought.

BounceBit TVL exceeds $810 million

According to official website data, BounceBit TVL has reached $816 million, including $643 million in Bitcoin, 58.05 million USDT and other assets.

Q1 Blur's NFT trading volume exceeded $1.5 billion, with a market share of 27.6%

According to a report from CoinGecko, the total trading volume of the top ten NFT trading markets in the first quarter of 2024 reached $4.7 billion.

Blur remained the leading NFT market in the first quarter, with a trading volume of more than $1.5 billion. Its market share was 27.6% in the same period, an increase from 24.9% in the fourth quarter of 2023.

Regulatory News

Sweden Asks Crypto Miners to Pay Around $90 Million in Unpaid Taxes

According to Cointelegraph, the Swedish Tax Agency investigated the operations of 21 cryptocurrency mining companies between 2020 and 2023. The investigation found that 18 cryptocurrency mining companies submitted "misleading or incomplete" information to obtain tax benefits.

According to the agency, some cryptocurrency companies provided misleading business descriptions to avoid paying value-added tax (VAT) on taxable businesses. Other companies found ways to avoid paying import taxes on mining equipment or paying income tax on mining income.

Arkansas Legislature Passes Two Bills That Could Restrict Cryptocurrency Mining in the State

According to Cointelegraph, the Arkansas Legislature has passed two bills that could restrict cryptocurrency mining in the state. While the bills have not yet become full laws, they lay the groundwork for further discussion and potential legislation.

While the Senate approved only one bill involving cryptocurrency last week, two of the eight bills introduced to the House on Wednesday passed.

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