【Data Intelligence】
The DeFi locked-up volume on the Terra chain fell to 4.18 billion US dollars
According to DefiLlama data, the current DeFi lock-up volume on the Terra chain has dropped to 4.18 billion US dollars, a decrease of 70.48% in the past 24 hours. It still ranks 6th in the public chain. Currently, the top 3 DeFi lockups on the Terra chain are: Anchor ($2.84 billion, down 63.54% in the past 24 hours), Mirror ($228 million, down 48.56% in the past 24 hours), Pylon Protocol ($159 million , decreased by 30.22% in the past 24 hours).
The Ethereum network has currently destroyed 2.305 million ETH
According to Ultrasound data, up to now, the Ethereum network has destroyed a total of 2,305,105.12 ETH. Among them, OpenSea destroyed 230047.52 ETH, ETHtransfers destroyed 212872.10 ETH, and UniswapV2 destroyed 131131.75 ETH. Note: Since EIP-1559 was introduced in the upgrade of Ethereum London, the Ethereum network will dynamically adjust the BaseFee of each transaction according to the transaction demand and block size, and this part of the fee will be directly burned and destroyed.
【 Regulatory News 】
US court orders defunct cryptocurrency exchange to return bitcoin
A federal jury in Georgia has ordered now-defunct cryptocurrency exchangeCampBX to return the bitcoin it received from customers. The order comes more than four years after the exchange ceased operations, WSBTV reported. CampBX is the first cryptocurrency exchange in the United States, with more than 70,000 users trading Bitcoin on the exchange over the years. However, the Atlanta, Georgia-based platform stopped working in 2017 and users were unable to access their accounts. The decision marks the first time a court has ordered an entity to return bitcoin.
European Commission Considers Restricting Stablecoin Issuance
According to a document, the European Commission is considering strict restrictions on the ability of stablecoins to replace the widespread use of fiat currencies. The document, marked "non-paper," meaning it doesn't reflect the committee's official position, is one of several documents in the works aimed at influencing discussions on topics such as whether crypto companies should be able to register from tax havens. Lawmakers and the government are trying to finalize a landmark cryptocurrency law, the Regulatory Marketplace in Crypto-Assets (MiCA), with committee talks behind closed doors. Ministers meeting in the Council of the EU hope to prevent rivals from ordering operations to cease if they become too popular. Under their plan, regulators could order any issuer of a stablecoin with more than 200 million euros ($211 million) and 1 million transactions per day to stop issuing them until those numbers return below the threshold.
【Industry Trends】
The total market value of USDC exceeds BNB and ranks fourth in the total market value of encryption
According to coingecko data, the total market value of USDC is 50.4 billion US dollars, surpassing BNB to rank fourth in the total market value of global encryption. At present, the total market value of global cryptocurrencies is 1.36 trillion US dollars, of which BTC accounts for 41.7%, and ETH accounts for 19%.
Game startup Branch completes $12.5 million in financing, with participation from Three Arrows Capital and others
Branch , a game start-up company, announced the completion of a $12.5 million seed round of financing. Mechanism Play, TCG Crypto, Dragonfly Capital, Polychain, Coinbase Ventures, and Three Arrows Capital participated in this round of financing. Angel investors include Polygon Studios CEO Ryan Wyatt, etc. . It is reported that the first version of the game is expected to be released this summer.
African encryption trading platform MARA completes $23 million in financing, led by Coinbase Ventures, Alameda Research, etc.
On May 11, the African encryption trading platform MARA completed a financing of US$23 million. This round of financing was led by Coinbase Ventures, Alameda Research, Distributed Global, Day One Ventures, and TQ Ventures. MARA also announced that it will launch a Layer 1 public chain driven by its native MARA Token, and will launch its testnet in the fourth quarter.
Liquidity Pool and Staking ServiceBancor Releases Bancor 3 Protocol
Liquidity pool and staking serviceBancor has announced the release of its "Bancor 3" protocol. Product Architect Mark Richardson revealed: "By helping Token projects and their users to safely and simply leverage DeFi earnings, Bancor 3 enables a strong and resilient on-chain liquidity market that drives a healthy token economy."
The number of daily active users of STEPN has exceeded 300,000, and the average daily sales volume has reached 57 million US dollars
According to news on May 11, the number of daily active users of the Move to Earn app STEPN has exceeded 300,000, and its native Token GMT transaction price has increased by about 17 times compared to March. Will McEvoy, senior partner at investment research company Fundstrat, said that STEPN has long-term value because its native Token is very stable, which is very important, because if the price fluctuates by 50% every week, users will quit. According to data disclosed by Delphi Digital, the average daily sales of STEPN reached 57 million US dollars, accounting for most of the NFT transactions on the Solana chain. Since STEPN charges a 6% fee on each sale (2% transaction fee, 4% royalty fee), these deals generate significant fee revenue, earning the STEPN team $2-3 million per day. From February 1 to April 30, cumulative fee income was estimated at $68.2 million.
【Elite Viewpoint】
Forbes:Gemini, BlackRock and Citadel All Deny Rumors Related to Terra's Slump
According to news on May 12, asset management company BlackRock and hedge fund giant Citadel Securities sent emails to Forbes to deny that they had traded TerraUSD. This remark is in response to recent rumors that these financial giants jointly borrowed 100,000 bitcoins (worth about $3 billion at today’s prices) from the cryptocurrency exchange Gemini to buy UST, and as a result, the asset dump caused the market to crash and destroyed more than 250 million UST. LUNA based on $100 million market capitalization. Following a tweet from Gemini earlier today denying a 100,000 Bitcoin loan to any large institutional counterparty, Citadel sources confirmed that the company does not trade stablecoins, including UST. BlackRock spokesman Logan Koffler said: The rumors about BlackRock's role in UST's plunge are absolutely false. In fact, BlackRock does not trade UST.
Grayscale explained to the SEC: Converting GBTC to an ETF will unlock $8 billion in value for investors
According to a 24-page presentation, Grayscale explained to the SEC that converting the Grayscale Bitcoin Trust (GBTC) into an ETF traded on the New York Stock Exchange would expand the use of Bitcoin, strengthen protection measures, and provide investment investors unlock up to $8 billion in value. The current deadline for the SEC to approve or deny the application is July 6. According to previous reports, Grayscale (Grayscale) met with SEC officials last week regarding the approval of Bitcoin ETF.
【What to watch today】
Binance Suspends C2C Trading
On May 11, according to the Binance client, the C2C site on the Binance platform currently only displays "API maintenance", and transactions are temporarily unavailable. Previously, according to the Binance client announcement, the CNY and TWD purchases of all digital currency trading pairs on the Binance platform C2C station will immediately implement a T+1 withdrawal limit. When using CNY and TWD to purchase BNB/BUSD and withdraw BNB/BUSD through C2C, the main network is BEP20 and is subject to the "T+1" limit.
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