Review of this week｜"NVIDIA conference expectations" drive the general rise of AI concepts; Wormhole announces airdrop details

BlockBeats will organize the key industry news contents of the week (3.3-3.10) 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 since 2021 After breaking through a new high of US$69,000 for the first time in the year, it plunged sharply and once fell below US$60,000 during the session.

On March 5, Bitcoin broke through US$69,000 and hit a new all-time high. Bitcoin has gradually appreciated over US$2,300 since it was first priced. Ten thousand times. As Bitcoin continues to rise strongly recently, its market value has now reached US$1.337 trillion, surpassing Meta Platforms (previously Facebook, with a market value of US$1.27 trillion), and jumping to the ninth place in the world's mainstream asset market value. The Cryptocurrency Fear and Greed Index reached 90 for the first time since February 2021, with the market mired in extreme greed. However, Bitcoin quickly plunged after hitting a record high for the first time since 2021, once falling below $60,000 during the session. The price later gradually recovered to around $670,000. Related reading: "After Bitcoin no longer "owes" anyone, What will be the future trend? 》, "Bitcoin's 5-second high followed Then there was a sharp correction. What was the reason behind it? 》.

"NVIDIA Conference Expectations" drives the AI concept to rise

The 2024 NVIDIA GTC Conference It will be held in California from March 18th to 21st. Affected by the NVIDIA GTC24 conference on March 6, the prices of multiple encrypted AI projects and AI concept coins that announced their participation in GTC24 rose sharply. Among them, projects such as NEAR, FET, RNDR, GPT, and NMT all saw increases of more than 20%.

On March 9, according to TheInformation, Sam Altman will rejoin the OpenAI board of directors as CEO, further boosting the rise of AI concept coins, of which WLD has a 24-hour increase Over 50%, once exceeding $11. Related reading: "NVIDIA Conference Expectations" drives the AI concept to rise. What projects are lurking in the crypto market? 》, "When AI meets DePIN, it may promote this bull market The value narrative master Shenglang", "Sam Altman returns to the OpenAI board of directors, The AI sector reappears in the general market”

Meme tokens have generally risen, with many meme coins breaking new highs this week

Suffering from the multiple rises in Bitcoin The impact of the breakthrough is obvious, and the plate rotation phenomenon is obvious, and the tokens generally rise. The meme currency sector continues to be strong. As of press time, the total market value of meme coins exceeds 63 billion U.S. dollars. The old meme currency DOGE still ranks first with a market value of more than 25 billion U.S. dollars. PEPE, FLOKI, and WIF follow behind, with WIF as the new currency in 2023. The meme coin was issued, and the unit price has exceeded US$2, ranking fifth in the market value of meme coins with a market value of US$2.1 billion.

Binance launched a new currency mining project, using BNB and FDUSD to mine AEVO (AEVO)

On March 6, Binance launched a new currency mining project AEVO (AEVO), this one goes Centralized derivatives trading platform. Aevo has raised $16.6 million in 3 rounds of funding. It is reported that on March 13, the maximum supply of AEVO will be 1,000,000,000 tokens, and the circulating supply will be 110,000,000 tokens. A total of 45 million AEVO will be issued to participating users in this Launchpool, accounting for 4.5% of the total. Another 30 million AEVO will be used for airdrops, accounting for 3% of the total. Other key information includes: Private investors (Seed and Series A) and teams’ RBN tokens will be fully unlocked by May 2024. RBN holders can convert RBN to AEVO at a 1:1 exchange rate with a 2-month lock-in period. AEVO is currently not unlocked for release, but the DAO will allocate 16% to future users and ecosystem incentives, which are expected to take over 4 years. Related reading: "Understand Binance’s latest Launchpool project Aevo in one article"

Binance announced the launch of the Futures NEXT platform

On March 7, Binance Futures launched the Futures NEXT platform. Users can earn rewards for predicting which tokens will be listed on the USD-M market on the Binance futures trading platform through a prediction-based mechanism. The NEXT Pool is an integral part of the Futures NEXT platform and provides a curated collection of user-nominated tokens for potential listing. Users can "select" allocate to tokens supported in the NEXT mining pool, and receive rewards if the token is successfully listed on the USD-M futures market. Futures NEXT is not a voting platform. Therefore, a token's popularity within the platform does not guarantee its listing. Related reading: "Binance announces rules for using the Futures NEXT platform: Participate in interactions and predict upcoming listings U-based contracts and earn rewards》

Wormhole opens airdrop inquiries and announces airdrop details, 6.17% of tokens will be used for community airdrops

March On the 7th, the cross-chain protocol Wormhole has opened airdrop query, which is used to determine the user on-chain activity in the Wormhole ecosystem application for eligibility snapshot at 23:59 UTC on February 6, 2024. The total supply of Wormhole token W is 10 billion, and the initial circulation is 1.8 billion, which will be distributed on 5 initial chains in the form of ERC20 and SPL, namely Ethereum, Solana, Arbitrum, Optimism and Base. This airdrop will distribute 6.17% (617,305,000) of W tokens, with a total of 397,704 wallet addresses receiving the airdrop.

Wormhole announced the airdrop details. Solana ecological NFT project Mad Lads holders of the "W" badge will receive 16,000 W airdrops, of which 3,200 W will be unlocked on TGE. , the rest will be unlocked within a year. y00ts NFT holders will receive 2,000 W airdrops per wallet. Bad Kids holders can receive 7,000 W airdrops. Additionally, Wormhole Discord users, the Monad community, and the top 10,000 Pyth stakers are also eligible for the Wormhole airdrop. Related reading: "Wormhole airdrop is here!" A quick look at token economics and airdrop details in one article》

The Saga airdrop application page is online. Distribute 60 million SAGA to eligible addresses

On March 7, the Cosmos ecological scalability protocol Saga announced that the community genesis drop has been launched. Eligible addresses can apply for up to 60,000,000 SAGA tokens (6% of the total supply), and as of 20:00 on March 27, 2024, the airdrop inquiry website has been announced. Users from the Cosmos, Celestia, Polygon, Avalanche, Solana communities are eligible to participate, as are Saga investors and community users who have participated in tournaments, developer stress tests, social tasks, and the soon-to-be-announced NFT community.

Binance lists Dogwifhat (WIF) and adds a seed tag

Binance on March 05, 2024 Dogwifhat (WIF) will be online at 22:00 (East 8th District time). Spot trading pairs: WIF/BTC, WIF/USDT, WIF/FDUSD, WIF/TRY.

Solana ecological DePIN protocol io.net completed US$30 million in Series A financing to provide more convenient decentralized GPU

On March 5, Solana ecological DePIN protocol io.net announced the completion of a US$30 million Series A financing, led by Hack VC, with participation from Multicoin Capital and others. Funds raised will be used to build the world’s largest decentralized GPU network and address the AI computing shortage. The project io.net has launched the first phase of the points reward program on March 1 and will last until April 28. The program will award points based on the GPU users provide to the network. Related reading: "Dialogue io.net: Hope to compete with AWS cloud services , providing more convenient decentralized GPUs》

SEC postpones action against BlackRock and Fidelity Ethereum spot ETF application to make a decision

On March 5, according to official news, the SEC postponed a decision on BlackRock’s Ethereum spot ETF application. The U.S. Securities and Exchange Commission (SEC) has delayed a decision on Fidelity’s Ethereum spot ETF application.

Grayscale launches dynamic income fund GDIF, including 9 assets such as SOL and TIA

On March 6, Grayscale announced the launch of the Dynamic Income Fund (GDIF) to earn income by staking cryptocurrencies. The new fund will initially support nine blockchain assets: Aptos (APT), Celestia (TIA), Coinbase Staking Ethereum (CBETH), Cosmos (ATOM), Near (NEAR), Osmosis (OSMO), Polkadot (DOT), SEI Network (SEI), and Solana (SOL). The fund aims to distribute awards in U.S. dollars on a quarterly basis.

OKX Web3 wallet now fully supports the ARC-20 protocol and will be launched on the Atomics market

March 5, OKX Web3 wallet now fully supports the Atomics (ARC-20) protocol and will be launched on the Atomics market soon. Users can view and transfer ARC-20 protocol assets through the OKX Web3 wallet. In order to ensure the security of user assets, OKX Web3 wallet is the first multi-chain wallet to realize the isolation of Bitcoin assets. It can provide a second reminder when users transfer Bitcoin assets to avoid accidentally burning assets to the greatest extent.

This week’s popular articles

"Bitcoin hits record high 15 years after its birth, returns to single coin What happened in the 800 days of $69,000”

At 23:05 on March 5, Bitcoin hit a new high of $69,005, with a market value of $1.35 trillion, surpassing Meta Platforms jumped to the 9th place in global mainstream asset market value. Looking back at the beginning of 2020, the Federal Reserve's zero interest rate policy caused US dollars to flow into the market, driving Bitcoin to rise by more than 300%. In May 2022, the collapse of Luna triggered a market liquidation and caused thunderstorms in many institutions. In November 2022, FTX crashed and market confidence hit rock bottom. In November last year, Binance reached a sky-high US$4.3 billion settlement with the SEC, which put an end to the biggest uncertainty in the market, and confidence in the currency circle gradually recovered. And in January of this year, the passage of a Bitcoin ETF became a bull market catalyst. Its total assets under management currently exceed US$40 billion. Matrixport analysts predict that the bull market may extend from February to September next year, with Bitcoin expected to rise to $125,000.

"Review of WIF: Another 10,000-fold coin on Solana, how did "Hat Dog" get rich? 》

WIF is a meme token built on the Solana blockchain that features an image of a Shiba Inu wearing a pink beanie. WIF opened at $0.00016 on November 20 last year. Recently, its price quickly climbed to $1.75, with a market capitalization exceeding $1 billion, becoming the fastest meme token to reach a billion market capitalization in Solana’s history. The token grew out of the late 2019 trend of knitted beanies on the heads of Shiba Inu dogs, but its simple community and Twitter operations have raised concerns among investors about its trajectory. Although WIF has enjoyed significant gains since its listing on Robinhood, investors still need to be cautious about its potential risks.

"With an OTC price of US$1,300, can Runestone become the top Meme in the Bitcoin ecosystem? 》

The short-term investment assets that have not been officially released now have a market value of US$143 million. As of the time of writing, according to Whales Market data, the highest transaction price of Runestone OTC has reached the US$1,300 range. Ordinals developer and founder of the Runestone project Leonidas posted on social media that block 832849 and the Runestone parent inscription (parentinscription) have been completed in cooperation with OrdinalsBot and MarathonDigitalHoldings. As the airdrop process progresses and Leonidas promotes the Runestone project, the price of Runestone OTC has been rising even though the airdrop has not yet landed.

"Bitcoin plunged after breaking new highs, more than 300,000 people liquidated their positions, and US$1.2 billion evaporated"

Bitcoin fell sharply after hitting a record high on Tuesday, leading to a global liquidation of nearly $1.2 billion. The market is anticipating a possible sharp correction of 10%-20%, but some analysts are optimistic about Bitcoin's long-term performance, believing it will perform well in the coming quarters despite the possibility of a sharp correction. The crypto community has mixed views on Bitcoin’s future price direction, with some focusing more on the potential impact of Bitcoin ETF inflows and other market factors. The Bitcoin ETF has attracted institutional investors since its launch in January, with trading volumes once again hitting a new record of $10 billion. Another all-time high for Bitcoin shows it’s not going away, and despite multiple pullbacks, it has rebounded significantly each time, according to Galaxy Digital’s head of research.

"Opinion: This round may be a BTC bull market, and it is rare to encounter a "violent" copycat season"

Crypto KOL Dr.Y.Ting put forward his own views on the development of the current bull market of Bitcoin and altcoins. From a macroeconomic cycle perspective, he believes that we are currently in the depression stage of the fifth Kangbo cycle. At this stage, hot money in the market gradually decreased due to stagflation caused by stagnant technological innovation, economic stagnation, and large-scale money printing. This phase may last for a long time, causing liquidity in the currency circle to dry up, especially for high-risk altcoins. At the micro level, he pointed out that every bull market will have two waves, the first wave is the bubble wave, and the second wave is the value wave. He gave examples of two past waves, namely Ethereum and DeFi. However, he believes that the current bull market is mainly driven by ETFs, and ETFs can only buy Bitcoin and cannot continue to invest in altcoins, which is essentially different from the previous spillover fund model. Therefore, he believes that the current bull market is more likely to be a bull market for Bitcoin, and the real bull market for wealth creation may have to wait until the interest rate cut cycle arrives.

"Interpretation of Binance's new platform Futures NEXT: a "prediction market" with guaranteed profits"

On March 7, Binance launched Futures NEXT section, this is the Binance contract new currency listing prediction market. On the platform, participants can use a ticket named "Pick" to vote for tokens in the token pool for listing on behalf of the contract. If the token is successfully listed on the USD-M contract market, users can receive rewards. In addition, users can also nominate their own tokens to join the prediction pool. How does this article explain the gameplay rules of the new platform? and how users can participate.

"Understand Binance’s latest Launchpool project Aevo in one article"

On March 6, Binance launched the 48th phase of new coin mining project Aevo (AEVO), a decentralized derivatives trading platform. It is reported that before AEVO, Ribbon’s governance token was RBN, and all RBN will be exchanged for AEVO at a 1:1 ratio. After the news was announced, RBN rose above $1, rising more than 36% in 24 hours. This article was first published on December 8, 2023. Aevo focuses on options trading, and its mainnet has exceeded $100 million in total trading volume. In addition to futures trading, Aevo has launched products such as Theta Vaults and Earn Vaults to support various on-chain derivatives transactions. Aevo OTC becomes the first platform to allow users to trade altcoin options at scale on-chain with institutional-grade liquidity providers. Aevo is built on a custom L2 based on the OP stack, achieving high throughput and performance while inheriting the security of Ethereum, operating with off-chain order books and on-chain settlement.

"With a 20-fold increase in one weekend, the AI Summer of the crypto market is coming"

Recently, AI The sector set off a new rally in the crypto market, taking off again after a week of consolidation. Various project tokens such as WLD, RNDR, AGIX, FET, etc. have continued to rise in the past six months, and many new projects have emerged in the past month, with increases exceeding five times or even dozens of times in a short period of time. The article discusses the reasons for the popularity of the AI sector, including crypto VCs’ calls for orders, AI becoming the new favorite in the technology field, and the trends of major manufacturers. The new project takes GPU rental services as a popular direction, adopts attractive narratives, and emphasizes cooperative relationships with large companies, which has become the focus of market attention. It is still unclear whether 2024 will usher in AI summer, but the AIxCrypto narrative will become increasingly clear.

《Financing data fell to freezing point, is the encryption market out of touch with Bitcoin? 》

Bitcoin broke new highs this week, sparking FOMO in the crypto community. However, despite Bitcoin’s strong performance, crypto funding amounts are on a downward trend, with total announced crypto funding of $727 million as of February 2024, down 28.7% from the same period last year. The project team was also confused when choosing to announce the project. The fluctuations in the entire encryption market regarding the adoption of the Bitcoin ETF also complicated the project announcement process. Although the Bitcoin ETF was approved, the funds flowing to the Bitcoin ETF did not flow to the altcoins on the market as expected, but were directly cashed into US dollars, resulting in projects such as altcoins failing to benefit from it.

"When AI meets DePIN, it may be the main value narrative that drives this bull market"

Recently, Solana Ecosystem The DePIN protocol io.net announced the completion of US$30 million in Series A financing. At the same time, multiple project tokens in the AI field such as WLD, RNDR, AGIX, etc. have increased several times in the past six months. The author of this article believes that the combination of AI and DePIN will become the main value narrative driving the current bull market, and is an opportunity to reshape the traditional old DeFi. The author points out that DePIN uses blockchain Token incentives to allow users to establish collaborative relationships through hardware devices, form an infrastructure network, and provide affordable network resources for small and medium-sized enterprises. The addition of AI has brought strong demand to this field, especially in terms of large model training. DePIN can mobilize hardware equipment across the entire network to promote the development of distributed machine learning, data storage verification mining and other directions. The author believes that AI+DePIN presents opportunities for reshaping the traditional DeFi field, emphasizing that public chains should be decentralized, and DeFi protocols should strengthen the evolution of smart contracts into super smart contracts to solve problems such as user thresholds, user interaction experience, and user cross-chain transaction wear and tear. .

《Tesla buys Bitcoin again? 》

On March 7, according to Arkham data, Tesla’s Bitcoin holdings reached 11,509. Although Tesla has not officially updated the number of Bitcoins, if the data is accurate, Tesla may announce the increase in its holdings in the next financial report. Tesla first purchased Bitcoin in February 2021. Late in the first quarter of 2021, Tesla sold 10% of its Bitcoin at its highs, adding $272 million to its earnings for the quarter, and still holds $1.33 billion in Bitcoin. Tesla made no further buy or sell trades in Bitcoin during the 2021 bear market. In 2022, Tesla wrote down its Bitcoin holdings due to environmental concerns. Whether Tesla actually buys Bitcoin again has not been confirmed, but it has attracted market attention and speculation.

"FTX Liquidation Claim Guide, Five Steps to Complete Registration Application"

FTX joint official liquidator PwC announced the launch of FTX Digital Markets Claims Portal, providing the liquidation claims process. Eligible creditors are required to submit proof of claim and other information through the portal by May 15, 2024, in order to receive an allocation of liquidation claim funds. The entire claims process includes five steps: account registration, registration of creditor and customer account details, balance acceptance or challenge, identity verification, and liquidation transfer of claimed assets. The liquidators expect to pay the first interim dividend distribution in late 2024 or early 2025. When submitting information, please pay attention to the official website address to ensure information security.

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