As the market faces increasing political and economic risks, cryptocurrency performance remains relatively stable, with mainstream coins showing little volatility. Bitcoin (BTC) is currently reported at $84,670, with a 24-hour increase of 0.496%, and Ethereum (ETH) is reported at $1,631.39, up by 1.17%.
There are two major events in the market today to focus on:
1. KiloEx has been stolen $7.4 million, does the project still have hope?
The KiloEx perpetual contract platform was recently attacked on multiple chains, with hackers initiating transactions through Tornado Cash addresses on the BNB, Base, and Taiko chains, accumulating profits of approximately $7 million. Preliminary analysis points to a vulnerability in the access control of the price oracle, and the attack is still ongoing.
KiloEx has officially confirmed that its Vault has been breached, the platform has suspended operations, and it is calling on partners to blacklist the attack address to prevent further spread. The team is currently tracking the flow of funds with security partners and will release a bug bounty program and a complete incident report.
According to on-chain data, affected by this theft incident, its project token KILO has dropped 22.8% in 24 hours, currently reported at $0.038. As per official data, the value of unliquidated contracts on the KiloEx platform has decreased to $6 million, and according to DefiLlama data, the KiloEx TVL is still at $34 million.
2. Good news for SOL, is the ETF confirmed?
Canada is the first to approve the Solana spot ETF, ahead of the United States! Bloomberg ETF analyst Eric Balchunas revealed yesterday that the Ontario Securities Commission has approved the Solana spot ETF applications submitted by institutions such as Purpose, Evolve, CI, and 3iQ, which is expected to be listed for trading on April 16.
It is noteworthy that this ETF is not only the world's first Solana spot ETF but also supports staking functions, allowing rewards through participation in staking. Balchunas pointed out that this is expected to yield higher returns than Ethereum ETFs and reduce holding costs.
SOL has strongly bounced back nearly 20% over the past week.
In terms of short-term price performance, SOL has not shown a significant incentive effect, basically still following Bitcoin. However, over the past week, SOL has bounced back by 18.46%, making it the best-performing token among the top ten.
After the official listing of the Solana spot ETF in Canada this week, will it bring continuous capital inflow? This will be observed continuously.
Although Canada has taken the lead in approving the Solana spot ETF, the United States remains the largest and most influential market in the world. After Trump took office, institutions such as Grayscale and Bitwise have successively submitted applications for Solana, XRP, DOGE, and other spot ETFs, and the market generally expects that Solana and XRP are most likely to be approved this year.
It is worth noting that Canada has not only approved the ETF this time but also opened staking functions, a mechanism that is still lacking in spot crypto ETFs. Whether the SEC will allow staking functions in the future may become a key factor in whether institutions enter the market.
That's all for the article! If you're feeling lost in the crypto world, consider collaborating with me to strategize and profit from market makers!
