Steven_Research
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Long-term specialist investor - Crypto Researcher: https://x.com/steven_research
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HOT SECTORS BEING INVESTED IN Q1/2025
*Investment capital from Crypto VCs reached 4.8 billion dollars in the first quarter of 2025, the highest since Q3 2022
*The investment trend is clearly shifting away from old narratives like memecoins or pure DeFi. The three segments leading are AI, DePIN, and RWA – with a common point being clear real-world applications, strong infrastructure, and access to users outside the native crypto market.
*Data from CryptoRank shows the sectors attracting the largest capital this quarter include:
- #AI: Mahojin, Olas, Privasea, Pluralis Research, Prime Intellect.
- #DePIN: DoubleZero, Beamable, Geodnet, NodeGo, BitRobot.
- #DeFi: Ethena, Solv Protocol, August, Infrared, Plasma.
- #RWA: Manifest Finance, Chronicle, Mavryk Network, Teneo Protocol, Uranium Digital.
- #CeFi: Mesh, Bitwise, Rain, Figure, #Binance .
- #Services: Privy, Dfns, D3, Phantom, Raise.
=> It seems that traditional venture capital funds are targeting solutions that can scale to the real world, rather than just "farming money" internally within the industry.
#steven_research
*Investment capital from Crypto VCs reached 4.8 billion dollars in the first quarter of 2025, the highest since Q3 2022
*The investment trend is clearly shifting away from old narratives like memecoins or pure DeFi. The three segments leading are AI, DePIN, and RWA – with a common point being clear real-world applications, strong infrastructure, and access to users outside the native crypto market.
*Data from CryptoRank shows the sectors attracting the largest capital this quarter include:
- #AI: Mahojin, Olas, Privasea, Pluralis Research, Prime Intellect.
- #DePIN: DoubleZero, Beamable, Geodnet, NodeGo, BitRobot.
- #DeFi: Ethena, Solv Protocol, August, Infrared, Plasma.
- #RWA: Manifest Finance, Chronicle, Mavryk Network, Teneo Protocol, Uranium Digital.
- #CeFi: Mesh, Bitwise, Rain, Figure, #Binance .
- #Services: Privy, Dfns, D3, Phantom, Raise.
=> It seems that traditional venture capital funds are targeting solutions that can scale to the real world, rather than just "farming money" internally within the industry.
#steven_research
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BTC Balance on Exchanges: lowest since 2018! An important signal for a new cycle of Bitcoin.
1/ According to Glassnode, the Bitcoin balance ($BTC ) on all exchanges has dropped to its lowest level since the end of 2018.
-The amount of BTC "ready to sell" in the market is rapidly dwindling.
2/ The end of 2018 was also the bottom of the previous down cycle.
-From this low point, Bitcoin began a bull run lasting 3 years.
-History does not repeat itself exactly, but can often be referenced.
3/ Why is the decrease in BTC balance on exchanges important?
-BTC withdrawn from exchanges ➔ reduced likelihood of being sold.
-Holders choosing to self-custody ➔ increased long-term confidence.
-When demand increases while supply dwindles ➔ upward price pressure.
4/ The years 2024-2025 will bring new variables:
-Smooth operation of spot Bitcoin ETFs.
-Large financial institutions racing to accumulate BTC.
-Twenty One, MicroStrategy,… continuously stocking up.
-The "liquid" supply is increasingly being withdrawn from the system.
5/ Conclusion:
-The BTC balance on exchanges is telling a quiet but extremely powerful story:
-Scarcity is being built right now.
-Just waiting for one more major catalyst, the market could enter a phase of vertical growth.
6/ Anyone still expecting BTC to "dump deep" should reconsider.
-Because supply shock is unpredictable - it only manifests through subsequent price action.
Follow @Steven_Research for daily updates on the best insights about Crypto and Macroeconomics. 🚀
#steven_research
1/ According to Glassnode, the Bitcoin balance ($BTC ) on all exchanges has dropped to its lowest level since the end of 2018.
-The amount of BTC "ready to sell" in the market is rapidly dwindling.
2/ The end of 2018 was also the bottom of the previous down cycle.
-From this low point, Bitcoin began a bull run lasting 3 years.
-History does not repeat itself exactly, but can often be referenced.
3/ Why is the decrease in BTC balance on exchanges important?
-BTC withdrawn from exchanges ➔ reduced likelihood of being sold.
-Holders choosing to self-custody ➔ increased long-term confidence.
-When demand increases while supply dwindles ➔ upward price pressure.
4/ The years 2024-2025 will bring new variables:
-Smooth operation of spot Bitcoin ETFs.
-Large financial institutions racing to accumulate BTC.
-Twenty One, MicroStrategy,… continuously stocking up.
-The "liquid" supply is increasingly being withdrawn from the system.
5/ Conclusion:
-The BTC balance on exchanges is telling a quiet but extremely powerful story:
-Scarcity is being built right now.
-Just waiting for one more major catalyst, the market could enter a phase of vertical growth.
6/ Anyone still expecting BTC to "dump deep" should reconsider.
-Because supply shock is unpredictable - it only manifests through subsequent price action.
Follow @Steven_Research for daily updates on the best insights about Crypto and Macroeconomics. 🚀
#steven_research
See original
Right now: The TVL of network $SUI has surpassed 1.6 billion dollars, increasing by over 9% in the past 24 hours
#SUI is growing very fast
#SUI is growing very fast
See original
Binance Wallet event TGE 12th edition with $OKZOO - Alpha Points
Use Binance Alpha Points to determine participation conditions. (Detailed instructions below)
*Event details:
- Participation time: 8:00 AM UTC - 10:00 AM UTC on April 25, 2025.
- Time in Vietnam (UTC+7): 3:00 PM - 5:00 PM on April 25, 2025.
- Total TGE sale capital: $100,000 in $BNB
- Number of tokens: 20,000,000 (2% of the total supply), max each user can commit 3 BNB
* Participation conditions: Users must have at least 45 Binance Alpha Points.
- How to check Alpha points: Go to Binance exchange, search for 'Alpha points' and then click as shown in the image
- As shown in the image, I have 46 points, just enough according to this condition
*How to calculate Alpha Points
- Binance Alpha Points are calculated daily based on two factors, accumulated over the past 15 days:
- Balance Points: Based on the total assets in the Binance Exchange account and Binance Keyless Wallet (including Alpha tokens):
$100 - < $1,000: 1 point/day.
$1,000 - < $10,000: 2 points/day.
$10,000 - < $100,000: 3 points/day.
≥ $100,000: 4 points/day.
- Volume Points: Based on the volume of purchasing Alpha tokens through Binance Exchange and Binance Keyless Wallet:
$2: 1 point.
$4: 2 points.
$8: 3 points.
$16: 4 points.
$32: 5 points.
- For each time the purchase volume doubles, add 1 point (for example:
$64 = 6 points,
$128 = 7 points…).
*Total points = Total Balance Points + Volume Points in the past 15 days.
*Note: Selling Alpha tokens does not affect the score. Snapshot is calculated according to UTC timezone.
#steven_research
Use Binance Alpha Points to determine participation conditions. (Detailed instructions below)
*Event details:
- Participation time: 8:00 AM UTC - 10:00 AM UTC on April 25, 2025.
- Time in Vietnam (UTC+7): 3:00 PM - 5:00 PM on April 25, 2025.
- Total TGE sale capital: $100,000 in $BNB
- Number of tokens: 20,000,000 (2% of the total supply), max each user can commit 3 BNB
* Participation conditions: Users must have at least 45 Binance Alpha Points.
- How to check Alpha points: Go to Binance exchange, search for 'Alpha points' and then click as shown in the image
- As shown in the image, I have 46 points, just enough according to this condition
*How to calculate Alpha Points
- Binance Alpha Points are calculated daily based on two factors, accumulated over the past 15 days:
- Balance Points: Based on the total assets in the Binance Exchange account and Binance Keyless Wallet (including Alpha tokens):
$100 - < $1,000: 1 point/day.
$1,000 - < $10,000: 2 points/day.
$10,000 - < $100,000: 3 points/day.
≥ $100,000: 4 points/day.
- Volume Points: Based on the volume of purchasing Alpha tokens through Binance Exchange and Binance Keyless Wallet:
$2: 1 point.
$4: 2 points.
$8: 3 points.
$16: 4 points.
$32: 5 points.
- For each time the purchase volume doubles, add 1 point (for example:
$64 = 6 points,
$128 = 7 points…).
*Total points = Total Balance Points + Volume Points in the past 15 days.
*Note: Selling Alpha tokens does not affect the score. Snapshot is calculated according to UTC timezone.
#steven_research
Steven_Research
--
Thank you $INIT and $BNB 🤝
The initial valuation for the fundraising round is $250M and $350M, but currently the market cap is only close to $100M with nearly 150M tokens in circulation.
In general, selling at this price doesn't really yield a good return 🤣 but let's just close it, folks.
Are you holding or selling?
The initial valuation for the fundraising round is $250M and $350M, but currently the market cap is only close to $100M with nearly 150M tokens in circulation.
In general, selling at this price doesn't really yield a good return 🤣 but let's just close it, folks.
Are you holding or selling?
See original
Thank you $INIT and $BNB 🤝
The initial valuation for the fundraising round is $250M and $350M, but currently the market cap is only close to $100M with nearly 150M tokens in circulation.
In general, selling at this price doesn't really yield a good return 🤣 but let's just close it, folks.
Are you holding or selling?
The initial valuation for the fundraising round is $250M and $350M, but currently the market cap is only close to $100M with nearly 150M tokens in circulation.
In general, selling at this price doesn't really yield a good return 🤣 but let's just close it, folks.
Are you holding or selling?
Steven_Research
--
BINANCE IS HAVING 2 EVENTS AT THE SAME TIME - NEW IDO RULE FILTERS USERS
Launchpool @initia $INIT and TGE sale @LorenzoProtocol $BANK with a new filtering rule that is quite high, join to earn a little profit, folks.
1. Farm Launchpool #INIT
- Inita is a Layer 1 blockchain platform built on the Cosmos SDK and integrates Optimistic Rollups technology, improving scalability and efficiency.
- It has raised $25M with the last 2 rounds valued at $250M and $350M.
- Maximum supply: 1,000,000,000 INIT
- Launchpool rewards: 30,000,000 INIT (3% of total supply)
- Initial circulating supply upon listing: 148,750,000 INIT (~14.88% of total supply)
- Binance will list INIT at 6:00 PM on April 24, 2025 (Vietnam time)
2. Lorenzo Protocol TGE Event
- Lorenzo Protocol is a DeFi platform focused on enhancing Bitcoin liquidity. It operates as a "Bitcoin Liquidity Layer", connecting BTC staking users with projects in need of liquidity, while providing advanced financial tools for profit generation.
- Although there is no fundraising information, Lorenzo currently has a TVL of 68,320,397,800, reaching $586M, ranking among the top DeFi projects on Bitcoin.
- Token: #BANK (Lorenzo Governance Token).
- Time: From 9:00 AM to 11:00 AM on April 18, 2025 (UTC), or 4:00 PM to 6:00 PM (Vietnam time, UTC+7).
- Total raised capital: $200,000 in BNB (quite low compared to previous rounds)
- Number of tokens issued: 42,000,000 BANK (2% of total supply).
- Price per token: $0.0048 (payment in BNB).
- Limit per user: Maximum 3 BNB.
* Participation conditions: Users must purchase Binance Alpha tokens via Binance Wallet (Keyless) or Spot/Funding accounts on Binance Exchange from 0:00 on March 19, 2025 to 23:59:59 on April 17, 2025 (UTC).
- How to check eligibility: Access the TGE event page.
#steven_research
Launchpool @initia $INIT and TGE sale @LorenzoProtocol $BANK with a new filtering rule that is quite high, join to earn a little profit, folks.
1. Farm Launchpool #INIT
- Inita is a Layer 1 blockchain platform built on the Cosmos SDK and integrates Optimistic Rollups technology, improving scalability and efficiency.
- It has raised $25M with the last 2 rounds valued at $250M and $350M.
- Maximum supply: 1,000,000,000 INIT
- Launchpool rewards: 30,000,000 INIT (3% of total supply)
- Initial circulating supply upon listing: 148,750,000 INIT (~14.88% of total supply)
- Binance will list INIT at 6:00 PM on April 24, 2025 (Vietnam time)
2. Lorenzo Protocol TGE Event
- Lorenzo Protocol is a DeFi platform focused on enhancing Bitcoin liquidity. It operates as a "Bitcoin Liquidity Layer", connecting BTC staking users with projects in need of liquidity, while providing advanced financial tools for profit generation.
- Although there is no fundraising information, Lorenzo currently has a TVL of 68,320,397,800, reaching $586M, ranking among the top DeFi projects on Bitcoin.
- Token: #BANK (Lorenzo Governance Token).
- Time: From 9:00 AM to 11:00 AM on April 18, 2025 (UTC), or 4:00 PM to 6:00 PM (Vietnam time, UTC+7).
- Total raised capital: $200,000 in BNB (quite low compared to previous rounds)
- Number of tokens issued: 42,000,000 BANK (2% of total supply).
- Price per token: $0.0048 (payment in BNB).
- Limit per user: Maximum 3 BNB.
* Participation conditions: Users must purchase Binance Alpha tokens via Binance Wallet (Keyless) or Spot/Funding accounts on Binance Exchange from 0:00 on March 19, 2025 to 23:59:59 on April 17, 2025 (UTC).
- How to check eligibility: Access the TGE event page.
#steven_research
BIG ON-CHAIN UPDATES
#Bitcoin long-term holders turning accumulative for first time since local peak while short-term holders capitulate, according to CryptoQuant analyst.
This divergence often signals an early re-accumulation phase, potentially setting a constructive base for price #BTC recovery.
#Bitcoin Whales are back in full force:
🔺Holders of >10K $BTC are showing near-perfect accumulation (~0.9)
🔺1K–10K $BTC wallets follow closely (~0.7)
🔺100–1K $BTC are also pivoting to accumulation (~0.5).
So far, large players have been buying into this rally.
#Bitcoin long-term holders turning accumulative for first time since local peak while short-term holders capitulate, according to CryptoQuant analyst.
This divergence often signals an early re-accumulation phase, potentially setting a constructive base for price #BTC recovery.
#Bitcoin Whales are back in full force:
🔺Holders of >10K $BTC are showing near-perfect accumulation (~0.9)
🔺1K–10K $BTC wallets follow closely (~0.7)
🔺100–1K $BTC are also pivoting to accumulation (~0.5).
So far, large players have been buying into this rally.
See original
RESEARCH - THE $SUI ECOSYSTEM IS THRIVING - NEW INSIGHTS
Last year, the ecosystem was dominated by
this year
is indeed a bright star; during the recent market downturn, the Sui ecosystem still made remarkable progress.
- From mid-February 2025, the number of monthly active addresses on Sui surged from an average of 10 million to over 40 million by mid-April 2025.
- The number of new wallets daily on Sui has increased by 600% compared to the beginning of the year, from 185.6k (01/20/2025) to 2.1 million (04/01/2025, all-time high), then decreased to 1.3 million (04/19/2025).
this year
is indeed a bright star; during the recent market downturn, the Sui ecosystem still made remarkable progress.
- From mid-February 2025, the number of monthly active addresses on Sui surged from an average of 10 million to over 40 million by mid-April 2025.
- The number of new wallets daily on Sui has increased by 600% compared to the beginning of the year, from 185.6k (01/20/2025) to 2.1 million (04/01/2025, all-time high), then decreased to 1.3 million (04/19/2025).
See original
THE RELATIONSHIP OF DXY WITH $BTC
The US Dollar Index (DXY) fell sharply, losing 9% in the three months leading up to April 2025, the second-largest drop since 2011, due to the global trade war led by Trump. #USChinaTensions
- Looking at the 3-month framework shows that each time the US Dollar Index ($DXY) drops significantly (at least 5% in 3 months), #bitcoin ($BTC ) tends to rise.
- On average, Bitcoin increases by 43% during these periods, and its price trend usually remains positive (above 0), indicating that this is a favorable time for Bitcoin.
- This information is provided to compare with the current situation (April 2025), when DXY dropped by 9%, but Bitcoin fell by 15%, indicating an anomaly compared to historical patterns. (contrasting the above argument)
- This reflects an inverse relationship: a significant weakening of the dollar (DXY dropping sharply) often leads to a limited price increase response from Bitcoin.
*Conclusion
- The current reaction shows the anomaly of #BTC compared to historical data, which is explained by two arguments:
- Currently, Bitcoin may have a delay compared to DXY, and there may be growth opportunities in the near future (if so, history still makes sense)
- If this time is more unstable and BTC does not follow history anymore, this could be a sign of a larger change in how the cryptocurrency market reacts to macroeconomic factors. Further observation is needed.
- Personally, I am hoping for the first argument that BTC is just lagging behind, but the second argument could also very well happen.
- What do you think?
#steven_research
The US Dollar Index (DXY) fell sharply, losing 9% in the three months leading up to April 2025, the second-largest drop since 2011, due to the global trade war led by Trump. #USChinaTensions
- Looking at the 3-month framework shows that each time the US Dollar Index ($DXY) drops significantly (at least 5% in 3 months), #bitcoin ($BTC ) tends to rise.
- On average, Bitcoin increases by 43% during these periods, and its price trend usually remains positive (above 0), indicating that this is a favorable time for Bitcoin.
- This information is provided to compare with the current situation (April 2025), when DXY dropped by 9%, but Bitcoin fell by 15%, indicating an anomaly compared to historical patterns. (contrasting the above argument)
- This reflects an inverse relationship: a significant weakening of the dollar (DXY dropping sharply) often leads to a limited price increase response from Bitcoin.
*Conclusion
- The current reaction shows the anomaly of #BTC compared to historical data, which is explained by two arguments:
- Currently, Bitcoin may have a delay compared to DXY, and there may be growth opportunities in the near future (if so, history still makes sense)
- If this time is more unstable and BTC does not follow history anymore, this could be a sign of a larger change in how the cryptocurrency market reacts to macroeconomic factors. Further observation is needed.
- Personally, I am hoping for the first argument that BTC is just lagging behind, but the second argument could also very well happen.
- What do you think?
#steven_research
See original
The number of whales #Ethereum —wallets holding from 1,000 to 10,000 ETH—has steadily increased since April 15.
In just 5 days, this number has risen from 5,432 to 5,460, the highest level since August 2023.
At the same time, the concentration $ETH held by these whales has also reached a new high, indicating an increasing accumulation by large investors.
#steven_research
In just 5 days, this number has risen from 5,432 to 5,460, the highest level since August 2023.
At the same time, the concentration $ETH held by these whales has also reached a new high, indicating an increasing accumulation by large investors.
#steven_research
Steven_Research
--
ALL ABOUT THE PROPOSAL TO REPLACE EVM WITH RISC-V BY $ETH
The article on Fellowship of Ethereum Magicians (04/20/2025) proposes replacing EVM with RISC-V to improve performance and simplify Ethereum's L1 execution layer, addressing scalability bottlenecks.
*Reason: RISC-V is an open-source, modern instruction set with wide applications (e.g., Cartesi Machine running Linux, Doom), helping to accelerate and synchronize L1-L2.
*Benefits: Increase performance in smart contract execution, simplify architecture, better support for L2 and zero-knowledge proofs.
*Challenges: Community discussion is needed on the RISC-V version (such as rv64gc) and how to ensure compatibility between L1-L2.
1. Impact on L1 based on EVM:
- Positive: Increased performance, customization ability, better competition.
- Negative: Difficult transition, loss of backward compatibility, community risks.
2. Impact on L2 on Ethereum:
- Positive: Improved L1 performance, synchronization of L1-L2, better support for ZK.
- Negative: Need to rewrite contracts, increased deployment complexity, cost impact.
3. Impact on other layers:
- Execution layer: Increased speed, more efficient for ZK, but requires new tools.
- Data layer: Increased pressure on data processing, impact on blob costs.
- Consensus layer: Adjustments needed to process transactions faster.
4. Ethereum ecosystem:
- Developers: New learning opportunities, innovation prospects.
- dApps: Complex transition, but improved performance.
- Users: Better experience, but risks of short-term disruption.
- With the market: Increased long-term trust, but short-term risks of ETH price drop.
#steven_research
The article on Fellowship of Ethereum Magicians (04/20/2025) proposes replacing EVM with RISC-V to improve performance and simplify Ethereum's L1 execution layer, addressing scalability bottlenecks.
*Reason: RISC-V is an open-source, modern instruction set with wide applications (e.g., Cartesi Machine running Linux, Doom), helping to accelerate and synchronize L1-L2.
*Benefits: Increase performance in smart contract execution, simplify architecture, better support for L2 and zero-knowledge proofs.
*Challenges: Community discussion is needed on the RISC-V version (such as rv64gc) and how to ensure compatibility between L1-L2.
1. Impact on L1 based on EVM:
- Positive: Increased performance, customization ability, better competition.
- Negative: Difficult transition, loss of backward compatibility, community risks.
2. Impact on L2 on Ethereum:
- Positive: Improved L1 performance, synchronization of L1-L2, better support for ZK.
- Negative: Need to rewrite contracts, increased deployment complexity, cost impact.
3. Impact on other layers:
- Execution layer: Increased speed, more efficient for ZK, but requires new tools.
- Data layer: Increased pressure on data processing, impact on blob costs.
- Consensus layer: Adjustments needed to process transactions faster.
4. Ethereum ecosystem:
- Developers: New learning opportunities, innovation prospects.
- dApps: Complex transition, but improved performance.
- Users: Better experience, but risks of short-term disruption.
- With the market: Increased long-term trust, but short-term risks of ETH price drop.
#steven_research
See original
ALL ABOUT THE PROPOSAL TO REPLACE EVM WITH RISC-V BY $ETH
The article on Fellowship of Ethereum Magicians (04/20/2025) proposes replacing EVM with RISC-V to improve performance and simplify Ethereum's L1 execution layer, addressing scalability bottlenecks.
*Reason: RISC-V is an open-source, modern instruction set with wide applications (e.g., Cartesi Machine running Linux, Doom), helping to accelerate and synchronize L1-L2.
*Benefits: Increase performance in smart contract execution, simplify architecture, better support for L2 and zero-knowledge proofs.
*Challenges: Community discussion is needed on the RISC-V version (such as rv64gc) and how to ensure compatibility between L1-L2.
1. Impact on L1 based on EVM:
- Positive: Increased performance, customization ability, better competition.
- Negative: Difficult transition, loss of backward compatibility, community risks.
2. Impact on L2 on Ethereum:
- Positive: Improved L1 performance, synchronization of L1-L2, better support for ZK.
- Negative: Need to rewrite contracts, increased deployment complexity, cost impact.
3. Impact on other layers:
- Execution layer: Increased speed, more efficient for ZK, but requires new tools.
- Data layer: Increased pressure on data processing, impact on blob costs.
- Consensus layer: Adjustments needed to process transactions faster.
4. Ethereum ecosystem:
- Developers: New learning opportunities, innovation prospects.
- dApps: Complex transition, but improved performance.
- Users: Better experience, but risks of short-term disruption.
- With the market: Increased long-term trust, but short-term risks of ETH price drop.
#steven_research
The article on Fellowship of Ethereum Magicians (04/20/2025) proposes replacing EVM with RISC-V to improve performance and simplify Ethereum's L1 execution layer, addressing scalability bottlenecks.
*Reason: RISC-V is an open-source, modern instruction set with wide applications (e.g., Cartesi Machine running Linux, Doom), helping to accelerate and synchronize L1-L2.
*Benefits: Increase performance in smart contract execution, simplify architecture, better support for L2 and zero-knowledge proofs.
*Challenges: Community discussion is needed on the RISC-V version (such as rv64gc) and how to ensure compatibility between L1-L2.
1. Impact on L1 based on EVM:
- Positive: Increased performance, customization ability, better competition.
- Negative: Difficult transition, loss of backward compatibility, community risks.
2. Impact on L2 on Ethereum:
- Positive: Improved L1 performance, synchronization of L1-L2, better support for ZK.
- Negative: Need to rewrite contracts, increased deployment complexity, cost impact.
3. Impact on other layers:
- Execution layer: Increased speed, more efficient for ZK, but requires new tools.
- Data layer: Increased pressure on data processing, impact on blob costs.
- Consensus layer: Adjustments needed to process transactions faster.
4. Ethereum ecosystem:
- Developers: New learning opportunities, innovation prospects.
- dApps: Complex transition, but improved performance.
- Users: Better experience, but risks of short-term disruption.
- With the market: Increased long-term trust, but short-term risks of ETH price drop.
#steven_research
Current #Bitcoin price decline is more likely a typical correction than a full bear cycle, according to CryptoQuant. $BTC
#steven_research
#steven_research
See original
In history, the price increases of #Bitcoin in relation to the all-time high of Gold within 150 days
Will we see $BTC New all-time high in the coming months, gentlemen?
Will we see $BTC New all-time high in the coming months, gentlemen?
See original
Kraken will list $BNB on April 22.
This is the first time a US exchange outside of BinanceUS lists spot BNB. Kraken is also a very legally responsive exchange in the US, this is a step closer for BNB to traders in the US.
Recently, Grayscale also included BNB in its potential big cap crypto category.
Binance is gradually regaining its position and global influence as many governments reach out for advice on cryptocurrency regulatory policies.
CEO @Richard Teng stated that they are supporting the development of legal frameworks for many countries, although specific names were not mentioned. This change is believed to be due to the current US administration's more open attitude towards the crypto market, a significant turning point after Binance's major legal scandals in the past.
Meanwhile, former CEO @CZ is also assisting countries like Kyrgyzstan and Pakistan in developing digital asset technology. In contrast, the European Union (EU) is gradually falling behind due to strict regulations making it difficult for crypto companies to operate, a prime example being Tether being pushed out of the EU market. The US and Asian markets are currently leading the global development trend in cryptocurrency.
As more countries begin to adopt clear and comprehensive legal frameworks, cryptocurrencies will become increasingly popular, and tokens with real-world applications will be valued higher, opening up significant opportunities for investors in the future.
#steven_research
This is the first time a US exchange outside of BinanceUS lists spot BNB. Kraken is also a very legally responsive exchange in the US, this is a step closer for BNB to traders in the US.
Recently, Grayscale also included BNB in its potential big cap crypto category.
Binance is gradually regaining its position and global influence as many governments reach out for advice on cryptocurrency regulatory policies.
CEO @Richard Teng stated that they are supporting the development of legal frameworks for many countries, although specific names were not mentioned. This change is believed to be due to the current US administration's more open attitude towards the crypto market, a significant turning point after Binance's major legal scandals in the past.
Meanwhile, former CEO @CZ is also assisting countries like Kyrgyzstan and Pakistan in developing digital asset technology. In contrast, the European Union (EU) is gradually falling behind due to strict regulations making it difficult for crypto companies to operate, a prime example being Tether being pushed out of the EU market. The US and Asian markets are currently leading the global development trend in cryptocurrency.
As more countries begin to adopt clear and comprehensive legal frameworks, cryptocurrencies will become increasingly popular, and tokens with real-world applications will be valued higher, opening up significant opportunities for investors in the future.
#steven_research
See original
COMPARISON OF LENDING PROTOCOLS - RESEARCH EULER FINANCE
There’s news that WinterMute invested in Euler Finance, and $EUL can be said to have revived after the previous downturn. I’ve compiled an article about the current top lending protocols.
1. Overview of protocols in the industry
-
: The largest DeFi lending protocol, with a Monolithic model, supporting multiple assets, providing features like Flash Loans, Isolated Mode, and Efficiency Mode.
=> TVL: Over 17.8 billion USD
-
: An established lending protocol, transitioning to an Isolated model with Compound v3. Focused on security and decentralized governance, with tools like Debt Simulator and Collateral Swap.
1. Overview of protocols in the industry
-
: The largest DeFi lending protocol, with a Monolithic model, supporting multiple assets, providing features like Flash Loans, Isolated Mode, and Efficiency Mode.
=> TVL: Over 17.8 billion USD
-
: An established lending protocol, transitioning to an Isolated model with Compound v3. Focused on security and decentralized governance, with tools like Debt Simulator and Collateral Swap.
See original
There's also this airdrop, folks (I might miss this one)
$EPT will be available on Binance Alpha and Binance Futures starting from April 21, 2025 🚀
*Airdrop conditions:
Exclusively for users who have purchased on Binance Alpha using Spot or Funding accounts on Binance Exchange from 00:00:00 on April 11, 2025 (UTC) to 23:59:59 on April 17, 2025 (UTC).
3,500 $EPT tokens will be airdropped to each Alpha account before 12:10 on April 21, 2025 (UTC) folks
#steven_research
$EPT will be available on Binance Alpha and Binance Futures starting from April 21, 2025 🚀
*Airdrop conditions:
Exclusively for users who have purchased on Binance Alpha using Spot or Funding accounts on Binance Exchange from 00:00:00 on April 11, 2025 (UTC) to 23:59:59 on April 17, 2025 (UTC).
3,500 $EPT tokens will be airdropped to each Alpha account before 12:10 on April 21, 2025 (UTC) folks
#steven_research
Steven_Research
--
BINANCE IS HAVING 2 EVENTS AT THE SAME TIME - NEW IDO RULE FILTERS USERS
Launchpool @initia $INIT and TGE sale @LorenzoProtocol $BANK with a new filtering rule that is quite high, join to earn a little profit, folks.
1. Farm Launchpool #INIT
- Inita is a Layer 1 blockchain platform built on the Cosmos SDK and integrates Optimistic Rollups technology, improving scalability and efficiency.
- It has raised $25M with the last 2 rounds valued at $250M and $350M.
- Maximum supply: 1,000,000,000 INIT
- Launchpool rewards: 30,000,000 INIT (3% of total supply)
- Initial circulating supply upon listing: 148,750,000 INIT (~14.88% of total supply)
- Binance will list INIT at 6:00 PM on April 24, 2025 (Vietnam time)
2. Lorenzo Protocol TGE Event
- Lorenzo Protocol is a DeFi platform focused on enhancing Bitcoin liquidity. It operates as a "Bitcoin Liquidity Layer", connecting BTC staking users with projects in need of liquidity, while providing advanced financial tools for profit generation.
- Although there is no fundraising information, Lorenzo currently has a TVL of 68,320,397,800, reaching $586M, ranking among the top DeFi projects on Bitcoin.
- Token: #BANK (Lorenzo Governance Token).
- Time: From 9:00 AM to 11:00 AM on April 18, 2025 (UTC), or 4:00 PM to 6:00 PM (Vietnam time, UTC+7).
- Total raised capital: $200,000 in BNB (quite low compared to previous rounds)
- Number of tokens issued: 42,000,000 BANK (2% of total supply).
- Price per token: $0.0048 (payment in BNB).
- Limit per user: Maximum 3 BNB.
* Participation conditions: Users must purchase Binance Alpha tokens via Binance Wallet (Keyless) or Spot/Funding accounts on Binance Exchange from 0:00 on March 19, 2025 to 23:59:59 on April 17, 2025 (UTC).
- How to check eligibility: Access the TGE event page.
#steven_research
Launchpool @initia $INIT and TGE sale @LorenzoProtocol $BANK with a new filtering rule that is quite high, join to earn a little profit, folks.
1. Farm Launchpool #INIT
- Inita is a Layer 1 blockchain platform built on the Cosmos SDK and integrates Optimistic Rollups technology, improving scalability and efficiency.
- It has raised $25M with the last 2 rounds valued at $250M and $350M.
- Maximum supply: 1,000,000,000 INIT
- Launchpool rewards: 30,000,000 INIT (3% of total supply)
- Initial circulating supply upon listing: 148,750,000 INIT (~14.88% of total supply)
- Binance will list INIT at 6:00 PM on April 24, 2025 (Vietnam time)
2. Lorenzo Protocol TGE Event
- Lorenzo Protocol is a DeFi platform focused on enhancing Bitcoin liquidity. It operates as a "Bitcoin Liquidity Layer", connecting BTC staking users with projects in need of liquidity, while providing advanced financial tools for profit generation.
- Although there is no fundraising information, Lorenzo currently has a TVL of 68,320,397,800, reaching $586M, ranking among the top DeFi projects on Bitcoin.
- Token: #BANK (Lorenzo Governance Token).
- Time: From 9:00 AM to 11:00 AM on April 18, 2025 (UTC), or 4:00 PM to 6:00 PM (Vietnam time, UTC+7).
- Total raised capital: $200,000 in BNB (quite low compared to previous rounds)
- Number of tokens issued: 42,000,000 BANK (2% of total supply).
- Price per token: $0.0048 (payment in BNB).
- Limit per user: Maximum 3 BNB.
* Participation conditions: Users must purchase Binance Alpha tokens via Binance Wallet (Keyless) or Spot/Funding accounts on Binance Exchange from 0:00 on March 19, 2025 to 23:59:59 on April 17, 2025 (UTC).
- How to check eligibility: Access the TGE event page.
#steven_research
See original
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
*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
See original
BINANCE IS HAVING 2 EVENTS AT THE SAME TIME - NEW IDO RULE FILTERS USERS
Launchpool @initia $INIT and TGE sale @LorenzoProtocol $BANK with a new filtering rule that is quite high, join to earn a little profit, folks.
1. Farm Launchpool #INIT
- Inita is a Layer 1 blockchain platform built on the Cosmos SDK and integrates Optimistic Rollups technology, improving scalability and efficiency.
- It has raised $25M with the last 2 rounds valued at $250M and $350M.
- Maximum supply: 1,000,000,000 INIT
- Launchpool rewards: 30,000,000 INIT (3% of total supply)
- Initial circulating supply upon listing: 148,750,000 INIT (~14.88% of total supply)
- Binance will list INIT at 6:00 PM on April 24, 2025 (Vietnam time)
2. Lorenzo Protocol TGE Event
- Lorenzo Protocol is a DeFi platform focused on enhancing Bitcoin liquidity. It operates as a "Bitcoin Liquidity Layer", connecting BTC staking users with projects in need of liquidity, while providing advanced financial tools for profit generation.
- Although there is no fundraising information, Lorenzo currently has a TVL of 68,320,397,800, reaching $586M, ranking among the top DeFi projects on Bitcoin.
- Token: #BANK (Lorenzo Governance Token).
- Time: From 9:00 AM to 11:00 AM on April 18, 2025 (UTC), or 4:00 PM to 6:00 PM (Vietnam time, UTC+7).
- Total raised capital: $200,000 in BNB (quite low compared to previous rounds)
- Number of tokens issued: 42,000,000 BANK (2% of total supply).
- Price per token: $0.0048 (payment in BNB).
- Limit per user: Maximum 3 BNB.
* Participation conditions: Users must purchase Binance Alpha tokens via Binance Wallet (Keyless) or Spot/Funding accounts on Binance Exchange from 0:00 on March 19, 2025 to 23:59:59 on April 17, 2025 (UTC).
- How to check eligibility: Access the TGE event page.
#steven_research
Launchpool @initia $INIT and TGE sale @LorenzoProtocol $BANK with a new filtering rule that is quite high, join to earn a little profit, folks.
1. Farm Launchpool #INIT
- Inita is a Layer 1 blockchain platform built on the Cosmos SDK and integrates Optimistic Rollups technology, improving scalability and efficiency.
- It has raised $25M with the last 2 rounds valued at $250M and $350M.
- Maximum supply: 1,000,000,000 INIT
- Launchpool rewards: 30,000,000 INIT (3% of total supply)
- Initial circulating supply upon listing: 148,750,000 INIT (~14.88% of total supply)
- Binance will list INIT at 6:00 PM on April 24, 2025 (Vietnam time)
2. Lorenzo Protocol TGE Event
- Lorenzo Protocol is a DeFi platform focused on enhancing Bitcoin liquidity. It operates as a "Bitcoin Liquidity Layer", connecting BTC staking users with projects in need of liquidity, while providing advanced financial tools for profit generation.
- Although there is no fundraising information, Lorenzo currently has a TVL of 68,320,397,800, reaching $586M, ranking among the top DeFi projects on Bitcoin.
- Token: #BANK (Lorenzo Governance Token).
- Time: From 9:00 AM to 11:00 AM on April 18, 2025 (UTC), or 4:00 PM to 6:00 PM (Vietnam time, UTC+7).
- Total raised capital: $200,000 in BNB (quite low compared to previous rounds)
- Number of tokens issued: 42,000,000 BANK (2% of total supply).
- Price per token: $0.0048 (payment in BNB).
- Limit per user: Maximum 3 BNB.
* Participation conditions: Users must purchase Binance Alpha tokens via Binance Wallet (Keyless) or Spot/Funding accounts on Binance Exchange from 0:00 on March 19, 2025 to 23:59:59 on April 17, 2025 (UTC).
- How to check eligibility: Access the TGE event page.
#steven_research
Steven_Research
--
The price is lower than expected, huh 😂
Well, free is also good, thanks $WCT thanks $BNB 🤝
#steven_research
Well, free is also good, thanks $WCT thanks $BNB 🤝
#steven_research
See original
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
- 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
Steven_Research
--
OVERVIEW OF EUROPEAN, CANADIAN, AND HONG KONG ETFs
Although Europe is considered a region not very friendly to crypto, especially with the move to deny $BTC into the reserves of central banks (following the U.S. reserve establishment move), data shows that ETPs (similar to U.S. ETFs) are quite diverse and still operate steadily.
- From May 2024 to March 2025, the AuM of ETPs in the EU increased from 10 billion USD to a peak of 22.5 billion USD (November 2024), before sharply declining to 13.317 billion USD in March 2025.
- In which AuM #Bitcoin: 62.2% (8.283 billion USD), holding an absolute advantage. #Ethereum: 13.5% (1.797 billion USD), in second place. Altcoins such as: Solana (5.7%), SUI (4.9%), Cardano (3.1%), and other coins like XRP, Avalanche, Polkadot occupy smaller proportions.
*Additionally, the status of ETF Staking:
- In Canada, ETF $SOL with staking was approved on April 16, 2025.
- Staking services for $ETH ETF have been approved by the SFC in Hong Kong, with the first case being Bosera HashKey Ether ETF on April 11, 2025.
- The Ethereum spot ETF of China Asset Management (Hong Kong) has been approved to provide staking services.
- It can be seen that outside of the U.S., many countries are also moving quite quickly on cryptocurrency services; the SEC may soon have clearer regulations, and the extension of ETH ETF Staking in the U.S. will likely coincide with new regulations.
- What do you all think?
#steven_research
Although Europe is considered a region not very friendly to crypto, especially with the move to deny $BTC into the reserves of central banks (following the U.S. reserve establishment move), data shows that ETPs (similar to U.S. ETFs) are quite diverse and still operate steadily.
- From May 2024 to March 2025, the AuM of ETPs in the EU increased from 10 billion USD to a peak of 22.5 billion USD (November 2024), before sharply declining to 13.317 billion USD in March 2025.
- In which AuM #Bitcoin: 62.2% (8.283 billion USD), holding an absolute advantage. #Ethereum: 13.5% (1.797 billion USD), in second place. Altcoins such as: Solana (5.7%), SUI (4.9%), Cardano (3.1%), and other coins like XRP, Avalanche, Polkadot occupy smaller proportions.
*Additionally, the status of ETF Staking:
- In Canada, ETF $SOL with staking was approved on April 16, 2025.
- Staking services for $ETH ETF have been approved by the SFC in Hong Kong, with the first case being Bosera HashKey Ether ETF on April 11, 2025.
- The Ethereum spot ETF of China Asset Management (Hong Kong) has been approved to provide staking services.
- It can be seen that outside of the U.S., many countries are also moving quite quickly on cryptocurrency services; the SEC may soon have clearer regulations, and the extension of ETH ETF Staking in the U.S. will likely coincide with new regulations.
- What do you all think?
#steven_research
See original
OVERVIEW OF EUROPEAN, CANADIAN, AND HONG KONG ETFs
Although Europe is considered a region not very friendly to crypto, especially with the move to deny $BTC into the reserves of central banks (following the U.S. reserve establishment move), data shows that ETPs (similar to U.S. ETFs) are quite diverse and still operate steadily.
- From May 2024 to March 2025, the AuM of ETPs in the EU increased from 10 billion USD to a peak of 22.5 billion USD (November 2024), before sharply declining to 13.317 billion USD in March 2025.
- In which AuM #Bitcoin: 62.2% (8.283 billion USD), holding an absolute advantage. #Ethereum: 13.5% (1.797 billion USD), in second place. Altcoins such as: Solana (5.7%), SUI (4.9%), Cardano (3.1%), and other coins like XRP, Avalanche, Polkadot occupy smaller proportions.
*Additionally, the status of ETF Staking:
- In Canada, ETF $SOL with staking was approved on April 16, 2025.
- Staking services for $ETH ETF have been approved by the SFC in Hong Kong, with the first case being Bosera HashKey Ether ETF on April 11, 2025.
- The Ethereum spot ETF of China Asset Management (Hong Kong) has been approved to provide staking services.
- It can be seen that outside of the U.S., many countries are also moving quite quickly on cryptocurrency services; the SEC may soon have clearer regulations, and the extension of ETH ETF Staking in the U.S. will likely coincide with new regulations.
- What do you all think?
#steven_research
Although Europe is considered a region not very friendly to crypto, especially with the move to deny $BTC into the reserves of central banks (following the U.S. reserve establishment move), data shows that ETPs (similar to U.S. ETFs) are quite diverse and still operate steadily.
- From May 2024 to March 2025, the AuM of ETPs in the EU increased from 10 billion USD to a peak of 22.5 billion USD (November 2024), before sharply declining to 13.317 billion USD in March 2025.
- In which AuM #Bitcoin: 62.2% (8.283 billion USD), holding an absolute advantage. #Ethereum: 13.5% (1.797 billion USD), in second place. Altcoins such as: Solana (5.7%), SUI (4.9%), Cardano (3.1%), and other coins like XRP, Avalanche, Polkadot occupy smaller proportions.
*Additionally, the status of ETF Staking:
- In Canada, ETF $SOL with staking was approved on April 16, 2025.
- Staking services for $ETH ETF have been approved by the SFC in Hong Kong, with the first case being Bosera HashKey Ether ETF on April 11, 2025.
- The Ethereum spot ETF of China Asset Management (Hong Kong) has been approved to provide staking services.
- It can be seen that outside of the U.S., many countries are also moving quite quickly on cryptocurrency services; the SEC may soon have clearer regulations, and the extension of ETH ETF Staking in the U.S. will likely coincide with new regulations.
- What do you all think?
#steven_research
Steven_Research
--
SEC DELAY $ETH STAKING ETF
The SEC has postponed its decision on the staking proposal for Grayscale’s spot Ethereum ETFs, including the Grayscale Ethereum Trust and Grayscale Ethereum Mini Trust ETF, until July 2025.
- This filing was submitted by NYSE Arca on February 14, 2025, with an initial deadline of April 17, 2025. Under the Securities Exchange Act of 1934, the SEC has extended the review period by an additional 90 days.
- Proposal content: Grayscale wants to integrate staking into its investment strategy, allowing the fund to earn rewards through Ethereum's proof-of-stake consensus mechanism. Staking will be conducted by the sponsor, with Coinbase Custody safeguarding the ETH assets.
- Reason for delay: Staking could increase the risk of attacks if not managed tightly, and staking rewards could be considered "taxable income" or even "securities" under U.S. law, complicating compliance.
- The SEC has also delayed similar proposals from other organizations (such as BlackRock and Bitwise), indicating they are awaiting a clearer regulatory framework from the Cryptocurrency Working Group (expected to be completed by July 2025, as discussed earlier).
#steven_research
The SEC has postponed its decision on the staking proposal for Grayscale’s spot Ethereum ETFs, including the Grayscale Ethereum Trust and Grayscale Ethereum Mini Trust ETF, until July 2025.
- This filing was submitted by NYSE Arca on February 14, 2025, with an initial deadline of April 17, 2025. Under the Securities Exchange Act of 1934, the SEC has extended the review period by an additional 90 days.
- Proposal content: Grayscale wants to integrate staking into its investment strategy, allowing the fund to earn rewards through Ethereum's proof-of-stake consensus mechanism. Staking will be conducted by the sponsor, with Coinbase Custody safeguarding the ETH assets.
- Reason for delay: Staking could increase the risk of attacks if not managed tightly, and staking rewards could be considered "taxable income" or even "securities" under U.S. law, complicating compliance.
- The SEC has also delayed similar proposals from other organizations (such as BlackRock and Bitwise), indicating they are awaiting a clearer regulatory framework from the Cryptocurrency Working Group (expected to be completed by July 2025, as discussed earlier).
#steven_research
See original
The price is lower than expected, huh 😂
Well, free is also good, thanks $WCT thanks $BNB 🤝
#steven_research
Well, free is also good, thanks $WCT thanks $BNB 🤝
#steven_research
Steven_Research
--
Swapped to $BNB
Thanks $KERNEL luck and fortune
Thanks $KERNEL luck and fortune
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