1. Cryptocurrency liquidations approach $360 million, Bitcoin price continues to fall
The cryptocurrency market experienced a sharp decline on April 30, 2024, as the price of Bitcoin (BTC) continued to fall. The value of Bitcoin fell below $60,000, marking its lowest point since reaching $73,000 in March. The sudden drop led to major liquidations among cryptocurrency traders who had bet on an increase in the price of Bitcoin. According to data from CoinGlass, long-term traders faced a loss of $246 million in 24 hours. The total asset liquidation across the entire cryptocurrency market was close to $360 million.
2. Hong Kong's six Bitcoin and Ethereum spot ETFs traded a total of about HK$68.4 million today
The total transaction amount of the first batch of 6 Bitcoin and Ethereum spot ETF funds launched in Hong Kong today was HK$68.4 million, including: Hua Xia Bitcoin ETF (3042.HK) reached HK$33.14 million; Hua Xia Ethereum ETF (3046.HK) reached HK$2.62 million; Harvest Bitcoin Spot ETF (3439.HK) reached HK$20.26 million; Harvest Ethereum Spot ETF (3179.HK) reached HK$1.72 million; Bosera HashKey Bitcoin ETF (3008.HK) had a transaction amount of approximately HK$10.31 million; Bosera HashKey Ethereum ETF (3009.HK) reached HK$350,000.
3. The average return rate of the crypto sector index in the past week was -10%, and the weekly return rate of the Layer2 sector was -4.99%, which was the best performance.
According to SoSo Value data, the average return rate of all crypto sector indexes in the past 7 days is around -10%. The most resilient sector is Layer2, with a weekly return rate of -4.99%; followed by Payment and NFT sector indexes, with weekly returns of -5.3% and -6.64%. The Layer2 sector index includes ten component coins, including MATIC, MNT, IMX, OP, and ARB. It is worth noting that the SoSo Value Crypto Index is an index compiled by the platform by selecting mainstream component coins representing different sub-sectors in the crypto field, aiming to measure the rise and fall performance of different sectors in the cryptocurrency market over a certain period of time.
4. Optimism will introduce a review process during the fourth round of retroactive public goods funding
Optimism announced on X that the Optimism Collective Deliberative Processes will be applied to Retro Public Funding Round 4. During this round, a new governance experiment, the Deliberative Process, will be introduced. Optimism Governance takes an iterative approach on the road to open meta-governance, transferring most governance responsibilities from the Optimism Foundation to the Optimism Collective, making the Foundation one of many contributors to propose system changes. The Deliberative Process helps Optimism get a representative group of ordinary people or users to participate in governance decisions and provides space for thoughtful discussions. In each round, some hypotheses will be tested, and the results will guide the design of future rounds and/or other parts of the governance system. - All community members can contribute. - This initial experiment can be applied to other parts of Optimism Governance. The implementation steps are as follows: - A group of 50 voters will be randomly selected to participate; - These voters will discuss topics related to the fourth round; - Between the two meetings, the community can comment on the drafted results; - The approved results will be directly included in the vote to retroactively fund the fourth round.
5. Most of the Bitcoin spot ETFs in the United States are at a discount, among which BlackRock IBIT’s discount rate is -1.67%
According to SoSoValue data, yesterday (May 1, EST), the total net outflow of Bitcoin spot ETFs was US$564 million, setting a record high. Yesterday, BlackRock's Bitcoin spot ETF IBIT had its first net outflow, with a daily net outflow of approximately US$36.93 million. It is worth noting that the premium/discount rates of each ETF (except Hashdex ETF DEFI and Invesco and Galaxy Digital ETF BTCO) are all discounts, among which the discount rate of BlackRock ETF IBIT is -1.67%.
6. Jito TVL exceeds 10 million SOL, equivalent to US$1.33 billion
According to official data, Jito TVL has exceeded 10 million SOL and is currently 10,268,903 SOL, equivalent to approximately $1.33 billion. Yesterday, people familiar with the matter said that the Solana infrastructure project Jito is building a SOL re-pledge service. "There's a lot of hype about this right now. It's a bit like a gold rush," said Lucas Bruder, CEO of Jito Labs. But he declined to comment on his company's plans. According to a CoinDesk survey, more than six teams are quietly building Solana re-pledge services. Cambrian is one of them. Cambrian founder Gennady Evstratov said his team of seven is finalizing $2.5 million in financing. Three investors said the round was valued at approximately $25 million.
7.LayerZero completes the first phase of network snapshot
LayerZero Labs announced that it has completed the first phase of the network snapshot at 11:59:59 PM UTC on May 1, 2024. LayerZero said it will release more relevant information soon.
8. Aave Labs releases V4 roadmap governance proposal: to be released in mid-2025
Aave Labs has unveiled three governance proposals to guide the development of its Aave V4. The Aave V4 roadmap, which is in an advanced research phase, proposes several improvements to the Aave lending platform, such as improved support for its native GHO stablecoin and lower transaction fees, the protocol said in a post on its governance forum on Wednesday. The proposal also reveals the developers’ plans to automate the calculation of the protocol’s borrowing rates and parts of the DAO governance process. The launch of Aave V4 is scheduled for mid-2025. The rollout of the upgrade is part of a broader initiative called “Aave 2030,” which aims to significantly overhaul the protocol by 2030 in the same way.
