steven_research

CEA Industries completes a $500 million private placement and will rename itself to BNB Network Company, led by YZi Labs

It will subsequently be renamed "BNB Network Company". The stock ticker will change to "BNC" on August 6.

The company intends to use the raised funds to acquire $BNB as its main reserve asset.

The private placement, led by YZi Labs, attracted participation from over 140 institutions, including Pantera Capital and Blockchain.com.

The company also appointed David Namdar, former co-founder of Galaxy Digital, as Chief Executive Officer and Russell Read, former Chief Information Officer (CIO) of the California Public Employees' Retirement System (CalPERS), as Chief Information Officer.

#steven_research

The OCC allows national banks and federal savings associations in the U.S. to engage in activities related to cryptocurrency without needing special approval. This decision has revoked previous restrictions outlined in interpretive letters from 2020-2021.

- Permitted activities: The announcement allows banks to perform certain specific activities with cryptocurrency, including:
- Acting as validators on blockchain networks like Ethereum.
- Holding and managing stablecoins.
- Providing custody services for cryptocurrencies like Bitcoin.

In other words, banks can now integrate digital assets into their traditional business operations without prior approval from regulators.

- Implications of the change: This decision marks a significant shift in U.S. regulatory policy towards cryptocurrency, reflecting a trend of acceptance and encouraging the participation of traditional financial institutions in this sector. This change has been driven by recent developments, such as President Donald Trump's executive order on March 7, 2025, establishing a strategic reserve for bitcoin and hosting a cryptocurrency summit at the White House.

Additionally, the White House also tweeted… $BTC $ETH

#steven_research

SPECIFIC ABOUT BINANCE'S "VOTE TO LIST"
In my opinion, this is a purely community event with a playground, as there is no information about incentives for voters yet. Specifically, like this, folks
- Start time: The first event was announced and launched on March 19, 2025, with voting starting approximately 30 minutes after the official announcement from Binance.
- Duration: The first voting round lasts from March 20, 2025, to March 27, 2025.
- Participation requirements: Users need to log in to their verified Binance account (KYC) and hold at least 0.01 BNB in their main account throughout the voting period.
*Operating mechanism:
- There are 9 token projects participating, all belonging to the BNB Smart Chain ecosystem.
- Users can vote for a minimum of 1 and a maximum of 5 projects.
- The two tokens receiving the highest votes and passing Binance's verification process will be listed.
- Voting location: Conducted via Binance Square (access from Binance > Square > Binance Square Official).
*Is there a reward for voting?
- This seems to be a test of the community, where the project with more holders has a higher chance of being listed => catering to the majority of fans. And of course, if listed, the holders of those projects will also benefit.
- I don't hold many of these projects but still vote for fun, what about you?
#steven_research #VoteToListOnBinance

The rate of having Bitcoin reserves $BTC in the United States in 2025 on Polymarket is reaching 65%, an increase of over 20% in just the past week.

Polymarket also has many fairly accurate predictions such as the election period,...

#steven_research

The 4th Binance Megadrop is the project @kernel_dao ($KERNEL)

- KernelDAO is a restaking protocol supporting Kernel, Kelp, and Gain.

- The total supply of KERNEL tokens is 1 billion, of which 40 million (accounting for 4% of the total supply) will be released as Megadrop rewards, and another 40 million will be used for other marketing activities every 6 months after launch.

- The initial circulating supply at launch is 162,317,496 (accounting for 16.23% of the total supply).

- The specific time and mission will be announced later, folks; there is currently no additional information.

- Is this a token lock action to reduce the amount of sell-off 93,602,027,193 before a (possible) market fluctuation, folks?

58,514,088,007

THE TRUTH ABOUT MCAP X2 X3 ON BINANCE?

On February 14, 2025 (3 days ago), Binance made a very clear announcement about changing the way to calculate and display Mcap, as well as the way to calculate the circulating supply of projects on @Binance

*Here, Binance updated 2 things, one is the way to calculate market cap and the other is the circulating supply of projects

- Previously, Binance displayed the circulating supply including tokens with liquidity in transactions, meaning that there were tokens that were unlocked but not being traded, so they were not counted. And Market Cap was calculated by multiplying the price by this amount of tokens.

=> In fact, the old calculation method will be less than the circulating supply according to tokenomics, for example, the $WLD project according to tokenomics has a circulating supply of about 29% plus token inflation, which is about 300 million tokens. Multiply by price 1.2 then cap 3.3B$ is correct, but Binance and CGK both updated wrongly before so now update it correctly. This is normal, there is nothing natural x2 x3 Mcap guys? Other projects are similar

- Currently the new calculation method will calculate all unlocked tokens - of course it will exclude tokens that are no longer accessible (like burned,...)

*Conclusion

- Actually, Binance's calculation method has always been done like this in my research articles, so I think the update is correct, nothing strange, should have done it a long time ago

- Read carefully before panicking guys, the information is very basic

#steven_research

The 7D volume of @BNBCHAIN $BNB has surpassed to become the top 1 market, reaching over 14B$, more than double Solana's over 7B$

Additionally, the volume on @PancakeSwap $CAKE reached 14B$ and surpassed @Uniswap $UNI with only 8B$

I don't know how you all feel, but the feeling of 2021 is coming back to me, it feels somewhat like around July 2021, back then I was also into memes a lot, but now I'm too old to keep up 😂

#steven_research

The "whales" are quietly accumulating

The chart from Glassnode (as of 19/05/2025) shows that accumulation is occurring across most wallet groups, including smaller wallets (<1 BTC) with a slight accumulation score (~0.55). Larger wallet groups like 100–1K BTC (0.9) and 1K–10K BTC (0.85) are also accumulating strongly. Only the 1–10 BTC wallet group is still net selling.

1. Large wallet group:

* 100–1K BTC: Accumulation score ~0.9
* 1K–10K BTC: Accumulation score ~0.85

→ Accumulating very strongly, continuously since December 2024 until now.

2. Retail group:

* <1 BTC: Shifted from net selling to slight accumulation (~0.55)

→ Retail is "getting back in" as prices rise from $60K → $90K

3. The only group still selling is 1–10 BTC.

* BTC price has increased by 50% since August 2024

→ Accumulation behavior is increasingly widespread, including from small wallets.

4. Positive signals, but note: the 1–10 BTC group is usually retail that has made a profit.

So:
Whales accumulating → Preparing for a breakout?

Retail taking profits → Risk of correction?

- What are your thoughts?

*In this seasons, we had:

- $BTC new ATH 108K$
- Stable coins supply ATH >200B$
- Biggest airdrop ever: $HYPE airdrop value flip $UNI airdrop in the past
- Black Swan tariff same as Covid-19
- M2 supply new all time high
- US's Stock Market new ATH
- Bitcoin & Altcoins ETF
- ...

*And now we expect so far...

- Countries Strategic Bitcoin Reserve Asset
- Crypto Reverse Asset
- US's monetary easing (QE)
- Trump roll in money
- FED cuts interest rates
- Altcoins season!

*It will be in the near future...

Your wait is worth it!

#steven_research

Vietnam ranks in the top 5 countries using cryptocurrency

According to the 2024 Global Crypto Adoption Index published by Chainalysis, the Central and South Asia and Oceania (CSAO) region dominates the rankings with 7 out of the top 20 countries.

- Specifically in Vietnam, according to a report by Chainalysis, as of July 2023, cryptocurrency assets in Vietnam amounted to 120 billion USD, approximately 3 - 4 times the amount of foreign direct investment in Vietnam and increased by 20% compared to the period 2021 - 2022 (around 100 billion USD).

- However, due to the lack of specific legal frameworks for cryptocurrency assets, tax revenue on this 120 billion USD is being lost, flowing out of Vietnam. (this figure is currently even larger)

- Vietnam was once in the top 3 in this ranking in 2023, but by 2024 it has dropped to the top 5

- As a country with an extremely high cryptocurrency adoption rate (nearly 20% compared to the world average of 8.7%).

=> Vietnam is likely to soon have a regulatory framework to both prevent tax loss and develop this sector, bringing many benefits to the country and its people

#steven_research

Crypto and Ethereum have experienced the worst Q1 in 6 years

- After a Q1 decline of 45.41%, $ETH continued into Q2 with an additional decrease of 12.54%. If this situation does not improve soon, we may be witnessing the worst first half of 2025 in crypto history

- The average Ethereum network fee has dropped to just $0.168 per transaction, reaching a 5-year low according to Santiment. This fee is much lower than during the bear market of 2022 and 2023

- With $BTC : From January 2025 to now, #Bitcoin has the worst performance among asset classes, with GOLD being the asset with the best growth.

- One correlation is that the decline of BTC is quite similar to NASDAQ, indicating a significant relationship between the US financial market and Bitcoin. At this point, many believe Bitcoin is more like a tech stock, and the theory of "digital gold" is severely flawed

- Interestingly, the DXY index has also decreased significantly (in the past, this index often moved in the opposite direction of BTC and US Stocks), indicating an inconsistency with the theories that have occurred in the past

- We may be in an irrational market, or it is building a new reasonable setup - different from the old rationalities we have known

- This article is a compilation of information, not bearish or bullish. What are your thoughts?

#steven_research

RUG PULL POLY HEDRA #ZKJ

Yesterday, 15/06/2025, Token $ZKJ dropped 87%, from 2.00 USD to 0.25 USD in 24 hours, with liquidations of 99 million USD on Binance.

- Suspected rug pull: Internal wallets (including 0x558e6b) liquidated 40 million USD, combined with the unlocking of 15.53 million $ZKJ, causing a liquidity crisis.

- The event occurred on the day, shocking the crypto community. Detailed analysis

- Over 99 million USD was liquidated, mainly on the ZKJ/USDT pair.

- In addition, the unlocking event of 15.53 million $ZKJ led to a sudden increase in supply, resulting in selling pressure and liquidity crisis, consistent with on-chain data from 15/06/2025.

- There was no trading volume before the price drop, suggesting the price was artificially suppressed in preparation for a sell-off.

- 0x558e6b sold 40 million USD $ZKJ, while 6 whale wallets sold 5.23 million $ZKJ (9.66 million USD), supporting the hypothesis of coordinated selling.

- This is an intentional exit plan, with large wallets withdrawing liquidity before the price collapse.

#steven_research

WHAT ARE THE HACK INCIDENTS OF LAYER 1 BLOCKCHAINS?

Many people ask me, "Why do we hear that blockchains are very secure but there are hacks all the time?" especially after the incident of $CETUS out of $SUI yesterday:

1. Ethereum (06/2016)
– The DAO hack lost 150 million USD due to a reentrancy bug in the smart contract.
– Caused controversy throughout the ecosystem, leading to a hard fork into $ETH and $ETC.

2. Sui (22/05/2025)
– Cetus Protocol exploited liquidity pool, losing 200–260 million USD.
– 162 million was frozen, the rest flowed to Ethereum.

3. Binance Smart Chain (10/2022)
– PancakeBunny & Venus encountered contract bugs and oracle issues, losing 60 million USD.
– At that time, BSC was suspected of having general security quality issues.

4. Solana (08/2022)
– Slope Wallet was hacked for 9 million, plus 5 million from a staking bug.
– Did not affect Layer 1, but caused panic among users.

5. Avalanche (12/2021)
– Platypus Finance was hacked for 8.5 million USD, contract bug on the DeFi app.
– Avalanche core remained safe.

6. Polygon (08/2021)
– PolyNetwork was drained of 600 million USD through a bridge.
– Not a fault of Layer 1, but the bridge was the critical weak point.

7. Tezos (09/2020)
– ICP staking pool had a bug, losing 20 million USD.
– Core chain was not affected.

8. Cardano (12/2022)
– MuesliSwap (Layer 2 DEX) was hacked for 3 million USD.
– Still not the fault of the chain, but it affected users in the ecosystem.

8. NEAR (08/2021)
- In August 2021, Ref Finance was hacked, with an estimated loss of about 3 million USD.
- The project compensated, recovered assets, and implemented a Frozen List.

*The truth behind it:

- In fact, these hacks are NOT HACKS OF BLOCKCHAIN, but rather: Hack of dapps, AMM/DEX, bridge, staking infrastructure, wallet hacks.

=> Layer 1 blockchain is only indirectly affected, but trust is shaken directly.

#steven_research

Kyberswap $KNC has updated its algorithm, reducing costs for a trade by 15%-40%

@KyberNetwork is still a beloved DEX aggregator, with monthly volume in the top 5 markets

Currently, in addition to common chains, KyberSwap has supported Berachain, Sonic, Bnbchain, and most recently, Ronin.

Kyber Earn has also just announced additional support on Uniswap v2, Camelot, Kodiak, Thena, QuickSwap v3

The current action to reduce transaction fees may reflect the continuous effort of the Kyber team, still working hard and improving.

Additionally, the KyberSwap aggregator API is still rated as stable, finding assets/liquidity quickly, low API costs, and optimized algorithms for partner use

*Traders on DEX may refer to using Kyberswap regularly for better cost optimization, our team members also use it frequently and quite like it

#steven_research

A16Z has invested an additional $55M in LayerZero $ZRO with a lock period of 3 years

*In the past, a16z has invested in LayerZero multiple times:

- Series A+ Round (March 2022): a16z led a Series A+ fundraising round worth $135 million for LayerZero Labs, with a company valuation of $1 billion

- Series B Round (April 2023): a16z continued to lead a Series B round worth $120 million, raising LayerZero Labs' valuation to $3 billion

- Token investment #ZRO (April 2025): This is the latest investment announced in a post on X on April 17, 2025, with $55 million into LayerZero's ZRO token, along with a 3-year lock commitment. It is unclear whether this is part of a new fundraising round or a direct token purchase (OTC).

*In my personal opinion, this latest round may be an OTC token purchase, and the purchase price could be much lower than the market price

- With the current market capitalization, LayerZero is currently valued lower than the Series B fundraising valuation (April 2023)

#steven_research

This case is serious, folks (if it's true)

There are rumors that Strategy submitted Form 8-K to the SEC on April 7, stating that if the price of Bitcoin continues to decline, the company may be forced to sell its held Bitcoin to pay off debt.

It is noted that this statement is a standard risk disclosure practice and it also appears in the 10-Q report for the first quarter of 2024 and reports for the year 2023 and prior, and is not a special case.

Currently, the average purchase price of $BTC of Strategy is around ~$67K, the current price is only about 12% away from this range and Bitcoin is still in a downward trend.

What do you think about this news?

#steven_research