【Data Intelligence】
The total amount locked in the Ethereum L2 network is $4.47 billion
According to L2BEAT data, as of May 30, the total locked position on Ethereum Layer 2 was 4.47 billion US dollars. Among them, the expansion program Arbitrum has the highest amount of locked positions, which is about 2.4 billion US dollars, accounting for 53.97%. Followed by dYdX, the lock-up volume is 954 million US dollars, accounting for 21.33%. Optimism occupies the third place, with a lock-up volume of 469 million US dollars, accounting for 10.5%.
Polygon Bridges TVL exceeds $2 billion
According to data from DuneAnalytics, the current TVL of the Ethereum bridge has reached 11.77 billion US dollars. Among them, the five bridges with the highest lock-up volume are Polygon Bridges ($4.112 billion), Arbitrum Bridges ($2.423 billion), Avalanche Bridge ($2.114 billion), Fantom Anyswap Bridge ($1.043 billion), Near Raibow ($881 million) ).
【 Regulatory News 】
Economic Daily: Be wary of virtual currency money laundering routines
According to news on May 30, recently, a number of telecom fraud "running points" money laundering gangs were destroyed by the police, and some cases involved more than 20 million yuan. Many people think that it is "part-time job to earn extra money", but in fact it is to launder money for criminals to "run points" and become a "white glove". The survey found that with the rise of virtual currency, some fraudulent gangs began to use virtual currency to transfer and launder stolen money. They publish part-time job information online, recruit some social personnel, buy and sell virtual currency on the trading platform, and the part-timers withdraw cash to the platform wallet, thereby realizing fund laundering. Virtual currency is not a natural protective film for illegal activities, and it is not a proper occupation to engage in part-time "running points" jobs. In order to actively control the online black and gray industries engaged in illegal money laundering activities, relevant departments should increase supervision and supervision, and cooperate with banks and third-party payment platforms for governance.
Russia's central bank speeds up development of digital ruble
According to the news on May 29, Olga Skorobogatova, the first deputy chairman of the Russian central bank, said that due to Russia’s sanctions, the Russian central bank has accelerated the development of the digital ruble. The Rus central bank initially booked a digital ruble pilot for real transactions and customers in 2024, but unanimously decided to launch the project in April 2023. At the same time, regulators also need to start implementing smart contracts in view of the digital ruble framework.
【Industry Trends】
The Anchor protocol experienced a price loophole after the launch of Terra's new chain, losing about $800,000
On May 30th, after the launch of the new Terra chain, the price of the oracle machine of LUNC (Luna Classic) reached $5, but the actual price was much lower than $5. A user of the Anchor platform noticed the loophole and deposited about 20 million Lido Bonded Luna Token, and successfully lent 40 million UST, and finally extracted and made a profit of about 800,000 US dollars. The Anchor team then discovered the vulnerability and quickly fixed it, avoiding further losses.
Financial Services Firm MoneyGram Plans to Launch Stellar-Based Remittance Platform
On May 30, according to Bloomberg News, financial services company MoneyGram (MoneyGram) is planning to launch a Stellar-based Stablecoin remittance platform. MoneyGram CEO Alex Holmes said that MoneyGram is trying to be a bridge from the encrypted world to the real world. Once the service is fully launched, users with digital wallets on the Stellar blockchain will be able to convert their holdings into USDC, which can then be cashed out through MoneyGram's network. The new service from MoneyGram and Stellar could also help promote the use of cryptocurrencies in emerging markets, the report said. Remittances to low- and middle-income countries rose to $589 billion last year and are expected to rise this year, according to the World Bank. For countries like El Salvador, which adopted bitcoin as a common currency last year, remittances account for more than 20 percent of gross domestic product. Rhythm previously reported that in October 2021, MoneyGram announced that it would jointly build cryptocurrency payments with Stellar and USDC.
Evmos has started to issue Token staking rewards
On May 29, Evmos, the Cosmos ecological EVM compatible chain, began to distribute EVMOS staking rewards at around 3:00 today.
Bitcoin has fallen for 9 consecutive weeks, the longest record in history
According to news on May 29, Bitcoin has fallen for 9 consecutive weeks, the longest record in history. QCP Capital said the S&P and Nasdaq have traded about 10% higher since their May 20 lows, while BTC and ETH have both traded lower over the same period and may be down about 22% this month.
Nike RTFKT Acquires 'DotSwoosh' Ethereum Domain Name for $35,000
RTFKT, Nike’s Web3 division, now owns 10 Ethereum Name Service (ENS) domains after Nike purchased dotswoosh.eth for 19.72 ETH (~$35,000) on Friday. But as some have pointed out on Twitter, Nike may have plans to use the domain to publish ENS subdomains in the future. In addition to dotswoosh.eth, RTFKT also owns artifacts.eth, rtfkt.eth, skinvial.eth, drmos.eth, mintvial.eth, dreamos.eth, spacedrip.eth, dripcoin.eth, and m2tekno.eth.
【Elite Viewpoint】
Coinbase CEO: Bitcoin is a commodity and should be regulated by CFTC
Coinbase CEO Brian Armstrong stated that Bitcoin is clearly a commodity and should be regulated by the CFTC.
President of Central African Republic: Bitcoin will pave the way for a better future
Bitcoin Archive tweeted that the President of the Central African Republic stated that Bitcoin will pave the way for a better future.
【What to watch today】
DAI Becomes the Largest Decentralized Stablecoin by Market Cap
This month, the impact of Terra LUNA and UST has rippled through Defi and the entire crypto ecosystem. Additionally, the Terra implosion made the stablecoin DAI the largest decentralized stablecoin by market cap. DAI is the fourth largest stablecoin, and the top three (USDT, USDC, BUSD) are centralized stablecoin products. DAI is issued by the Makerdao ( MKR ) project, and unlike algorithmic stablecoins such as UST, DAI utilizes over-collateralized loans and repayment processes. As of press time, DAI has a market cap of $6.24 billion, but the stablecoin’s market cap has fallen by 27.3% over the past 30 days. While DAI remained stable, Terra's implosion sent shockwaves through the crypto community, which in turn cut TVL in defi in half. Since May 1, 2022, more than $2.6 billion worth of DAI has been removed from circulation. Over the past 24 hours, DAI has had a global transaction volume of $159.99 million.
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