[Link to FM] zkSync confirms that it will launch native tokens in the future, and Bankless’s official YouTube account is banned by the platform

【Data Intelligence】

The total value locked (TVL) in DeFi has dropped by 17.77% in the past 30 days

According to DefiLlama data, the value locked (TVL) in decentralized finance (DeFi) protocols has dropped by 17.77% in the past 30 days, from $221.67 billion to $182.27 billion today. Additionally, statistics show that the total value locked (TVL) of various DeFi protocols has dropped significantly over the past seven days.

The market value of Bitcoin accounts for around 41.6%, which is a low point in the past four years

According to Coinmarket data, the current market value of Bitcoin accounts for 41.6%, and that of Ethereum accounts for 19.6%. For Bitcoin, the current market capitalization ratio is at a low point since 2018. In May 2021 and January 2022, the market value of Bitcoin briefly fell to around 40%. What's interesting is that if you look at the market value of Ethereum, it is still at a high point in recent years.

【 Regulatory News 】

South Korean Internet Bank KakaoBank Considers Partnership with Digital Currency Exchange

According to news on May 8, KakaoBank, South Korea's largest online bank, is considering cooperating with digital currency exchanges. The company's CEO Li Yongyu confirmed the plan. He said that since cryptocurrencies are the main assets of customers, they are evaluating how to provide Virtual assets in the form of services or businesses. Prior to this news, it was reported that KakaoBank had finalized a partnership agreement with Coinone, but the news was not confirmed.

Tianjin Municipal Bureau of Finance launched a pilot project for digital RMB salary payment

News on May 9, according to the official website of the Tianjin Municipal People's Government, recently, the Tianjin Municipal Finance Bureau issued wage subsidies to the digital renminbi personal wallets of employees of directly affiliated pilot units in the form of digital renminbi, and the pilot work was a complete success. In the next step, the Municipal Finance Bureau will continue to expand the scope of the pilot, correct and improve the problems found in the pilot in a timely manner, sum up experience, and actively try to issue digital renminbi in the unified salary payment of all budgetary units at the municipal level.

【Industry Trends】

Hashrate Broker Nicehash’s New Software Has Supported Unlocking Crypto Mining Limits on Nvidia Graphics Cards

News on May 9th, the new software NiceHash QuickMiner (Excavator) of computing power broker Nicehash has supported 100% LHR (Lite Hash Rate) graphics card computing power unlocking, which can break through the Ethereum encryption mining limit of Nvidia graphics cards, and 100% unlocking The feature will also be coming to NiceHash Miner soon. As previously reported, Nvidia has added the Lite Hash Rate algorithm to all its RTX 3000 series graphics cards, which can detect whether the graphics card is a mining algorithm when the graphics card is running. If the graphics card is detected to be used for mining, the computing power of the graphics card will be reduced by half. .

Bankless official YouTube account banned by the platform

On May 8, Bankless officially posted on social media that its YouTube platform account had been banned by the platform without warning and notification. By the time of the ban, Bankless had uploaded over 10,000 hours of video content on the YouTube platform and had over 150,000 subscribers.

Dora Factory has completed two rounds of Rococo testing

According to official news, the DAO-as-a-Service infrastructure Dora Factory Polkadot factory parachain has completed two rounds of Rococo testing, including basic parachain functions and HRMP cross-chain asset transfers. The Dora Factory Kusama parachain will be launched and start producing blocks between May 19th and 29th.

Privacy solutionRailgun is about to deploy V1.0 version, which is compatible with NFT and can save Gas fees

On May 8th, the privacy solution Railgun (RAIL) tweeted that the proposal to deploy Railgun V1.0 has now been approved. This version is compatible with NFT and can greatly save Gas costs. Railgun uses zero-knowledge proof (zk-SNARKs) technology to allow users to enjoy privacy when transferring funds, trading, using leveraged platforms, increasing liquidity or using decentralized applications.

Doodles announced that it will airdrop dooplicator to holders on May 12

On May 9th, the NFT project Doodles announced on its social platform that it will airdrop dooplicator to Doodles holders on May 12th. As previously reported, on May 7, Doodles announced on its social networking site the appointment of former Billboard president Julian Holguin as the new CEO, and said that the next phase of the project will release groundbreaking projects and new partnerships.

【Elite Viewpoint】

Glassnode: Mayer Multiplier Indicator Shows We Are Still in a Crypto Bear Market

According to the latest research from the blockchain analysis company Glassnode, according to the analysis of the Meyer multiplier indicator, it is still in the crypto bear market. One of the most well-known Bitcoin indicators and a favorite of the crypto community, the Mayer Multiplier is a simple ratio between price and the 200-day moving average. Despite its simplicity, it provides a strong and reliable indicator of long-term bottom and top formation for the Bitcoin cycle. Glassnode plotted a 0.8x Meyer multiplier as the historically “undervalued” level, based on the fact that less than 15% of Bitcoin’s transaction time is at or below this level. With the 200-day moving average at $47,275, this 20% discount level is currently at $37,820. This indicator suggests that we may have passed the initial phase of the late bear market and entered the second half of the bear market. However, based on previous cycles, it also suggests that it may be a while before the market has provided enough demand and price appreciation to allow for sustainable profitability and capital inflows.

Forbes: Analysts Think Bitcoin Could Fall to $30,000 Soon

According to news on May 8, Carter Braxton Worth, founder of Worth Charting, believes that Bitcoin may quickly fall another 13% to $30,000. The support level in the chart dates back nearly a year to June 2021, when Bitcoin was around $29,000. This support level may come into play as Bitcoin has dropped $1,200 to $34,600 in the past few hours. One of the biggest risks is a further decline in Bitcoin, with fixed income investing becoming an alternative and Bitcoin becoming a risk-off asset as the Federal Reserve raises interest rates. It also does not have any moving average support.

【What to watch today】

zkSync has confirmed that native tokens will be launched in the future, but the specific time has not yet been disclosed

On May 8, according to the latest project-related documents on the official website of zkSync, the layer-2 expansion solution of Ethereum, zkSync has confirmed that the project will launch its native Token in the future, but the R&D team has been working on the development of zkSync and its security. It is expected that when zkSync is fully decentralized, users can pledge their native Tokens to become verifiers of the zkSync network.

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