Today's Headlines:
According to Jinshi's report, Reddit users revealed that OpenAI may announce its ChatGPT search product on May 9 to compete with Google. It is reported that OpenAI will launch a search webpage, with the domain search.chatgpt.com and related SSL certificates already created, and is expected to go live on May 9 this week. OpenAI has not yet responded to this news.
According to Bloomberg, a new index jointly developed by Visa indicates that over 90% of stablecoin transaction volume is not from real users, indicating that these types of cryptocurrencies are far from becoming widely used payment methods. Visa and Allium Labs' dashboard aims to filter out transactions initiated by bots and large-scale traders, isolating transactions conducted by real people. Visa stated that out of the total transaction volume of approximately $2.2 trillion in April, only $149 billion came from "real-world payment activities." This finding challenges the argument of stablecoin supporters that these tokens, pegged to assets such as the US dollar, will disrupt the $150 trillion payment industry. PayPal and Stripe are among the fintech giants venturing into stablecoins, with Stripe co-founder John Collison optimistic about these tokens in April due to "technological improvements." Pranav Sood, EMEA Managing Director of the payment platform Airwallex, commented on these data, stating, "This indicates that the development of stablecoins as a payment tool is still in a very early stage, which does not mean they do not have long-term potential, because I think they do. But the short and medium-term focus needs to be on ensuring that existing systems work better."
Data: Tokens worth approximately $36.16 million will be unlocked next week
Market: Bitcoin breaks through $65,000, Ethereum breaks through $3,200
Bitcoin network transactions have exceeded 1 billion
AI
OpenAI may release ChatGPT version of search engine on May 9
According to Jinshi's report, Reddit users revealed that OpenAI may announce its ChatGPT search product on May 9 to compete with Google. It is reported that OpenAI will launch a search webpage, with the domain search.chatgpt.com and related SSL certificates already created, and is expected to go live on May 9 this week. OpenAI has not yet responded to this news.
Project Updates
Visa Research Report: Over 90% of stablecoin transactions are not from real users
According to Bloomberg, a new index jointly developed by Visa indicates that over 90% of stablecoin transaction volume is not from real users, indicating that these types of cryptocurrencies are far from becoming widely used payment methods. Visa and Allium Labs' dashboard aims to filter out transactions initiated by bots and large-scale traders, isolating transactions conducted by real people. Visa stated that out of the total transaction volume of approximately $2.2 trillion in April, only $149 billion came from "real-world payment activities." This finding challenges the argument of stablecoin supporters that these tokens, pegged to assets such as the US dollar, will disrupt the $150 trillion payment industry. PayPal and Stripe are among the fintech giants venturing into stablecoins, with Stripe co-founder John Collison optimistic about these tokens in April due to "technological improvements." Pranav Sood, EMEA Managing Director of the payment platform Airwallex, commented on these data, stating, "This indicates that the development of stablecoins as a payment tool is still in a very early stage, which does not mean they do not have long-term potential, because I think they do. But the short and medium-term focus needs to be on ensuring that existing systems work better."
According to the official announcement, Binance will stop supporting all BIDR products and services according to the following schedule, in order to focus on products that best meet user needs. Users are encouraged to trade BIDR assets for other available assets on Binance before the termination of BIDR services, or convert BIDR to other cryptocurrencies on Binance Conver. Starting from 16:00 on August 20, 2024 Beijing time, the remaining BIDR balance in users' Binance accounts will be automatically converted to FDUSD based on the real-time exchange rate from xe.com.
Binance will delist all existing BIDR spot trading pairs (i.e., BTC/BIDR, ETH/BIDR, and USDT/BIDR) at 11:00 on May 17, 2024 Beijing time. Binance Margin will delist the USDT/BIDR isolated margin trading pair at 14:00 on May 10, 2024 Beijing time. Binance Futures will delist all BIDR trading pairs at 12:00 on May 13, 2024 Beijing time. BIDR will be removed from the list of supported stablecoins by Binance Pay at 11:00 on May 13, 2024 Beijing time. BIDR will be delisted from Binance Earn after 10:00 on May 11, 2024 Beijing time. BIDR will be delisted from Binance Savings after 11:00 on May 14, 2024 Beijing time. Binance P2P will delist all BIDR trading pairs at 11:00 on May 16, 2024 Beijing time, and BIDR will be delisted from Binance Gift Card at 11:00 on May 17, 2024 Beijing time.
ZeroLend: ZERO token claiming and staking now available
Decentralized multi-chain lending protocol ZeroLend announced on X platform that ZERO token claiming and staking are now available, with contract address (CA): 0x78354f8dccb269a615a7e0a24f9b0718fdc3c7a7.
ApeCoin DAO has passed the proposal "Create an NFT Launchpad supported by APE"
The Snapshot governance page shows that the ApeCoin DAO community recently passed the proposal "Create an NFT Launchpad supported by APE," with a final support rate of 88.69%. This proposal aims to establish an NFT Launchpad on the ERC-20 network using APE as currency, providing a platform for creators to mint, showcase, and trade their NFTs, thereby increasing the utility and adoption of Ape as a token. According to the implementation steps and schedule, the design and planning of the front-end platform UI/UX are expected to take 1 month, and the Alpha and Beta testing of the platform with the team and relevant partners is expected to take 1 month after that, followed by opening the platform to the public after the audit is completed.
Yuga Labs co-founder Garga.eth recently stated on the X platform that Horizen, Caldera, and Arbitrum are turning the ApeChain, a Layer 3 network based on ApeCoin, into a reality. The first ApeChain testnet "Jenkins" went live in April, and the second testnet "Curtis" will launch in May. The mainnet is expected to go live later this summer.
Garga.eth also mentioned that the alpha version of ODK will be opened to a few creators in the next two weeks, which is an extension of MSquared World Builder, putting the construction tools in the hands of the community. Initially, it will be tested with a small group of people, but will soon be open to all Otherdeed holders.
In addition, a special project codenamed "Project Dragon" will launch in July. This is a large-scale multiplayer event where thousands of players will compete in a metropolis. Starting from July, there will be a Project Dragon event every month. Garga.eth also revealed that Yuga Labs has reached an agreement with the metaverse project SomniaSomnia, allowing all Otherdeed, Koda, BAYC, and MAYC holders to complete tasks and accumulate Somnia points for participating in Otherside development and the next Somnia mission season. Furthermore, the bonuses will be significantly increased to ensure a large amount of rewards flow to the Otherside holders who are building the virtual universe.
According to Huigang Communication, Tiger Securities (Hong Kong) has announced the official launch of virtual asset trading services, becoming one of the first technology securities firms in Hong Kong to support a platform for trading and managing traditional securities as well as virtual assets. Currently, professional investors in Hong Kong can use Tiger Securities' flagship platform Tiger Trade to trade 18 types of virtual assets, including Bitcoin (BTC) and Ethereum (ETH), as well as stocks, options, futures, US Treasury bonds, funds, and various global assets, all at a cost-effective price, without the need to open and manage different accounts at different brokers and platforms. Tiger Securities will provide competitive trading fees, with virtual asset trading commissions as low as 0.2% of the transaction amount and exemption from custody fees. Through the user-friendly interface platform Tiger Trade, registered users in Hong Kong can also view real-time quotes and price changes of virtual assets, keeping abreast of the virtual asset market anytime, anywhere. In addition, both Hong Kong dollars and US dollars can be exchanged instantly within the Tiger Trade App. Currently, Tiger's virtual asset trading services are only available to professional investors. Eligible users, i.e., Hong Kong residents with investment portfolios exceeding HK$8 million or entities with assets exceeding HK$40 million, can participate in virtual asset trading by submitting professional investor information on the Tiger Trade App, completing the investor education required by the Securities and Futures Commission, and signing the agreement. In the future, subject to regulatory requirements, Tiger Securities plans to extend virtual asset trading services to retail investors. Additionally, the company will consider adding virtual asset spot deposit services.
Jack Dorsey leaves the board of decentralized social network Bluesky
According to Bloomberg, Jack Dorsey has left the board of the decentralized social network Bluesky. A year ago, he helped fund and promote the service due to regret over selling Twitter to Musk. The Twitter co-founder promoted his new charitable donations to open internet protocols on the platform owned by Musk (now renamed X), describing it as "free tech." He also added X to such technologies, but detailed that businesses can also be built on open protocols. Dorsey has reduced his list of people he follows on X to three: Musk, Edward Snowden, and Stella Assange, the wife of the imprisoned WikiLeaks publisher. This indicates a warming relationship between the owners of X and Dorsey, who posted on Bluesky a year ago that "everything went bad" after Musk took over Twitter and completely transformed it.
Founder of Cyber Capital further questions Sui Foundation's response regarding token model
In response to the Sui Foundation's official response to their questioning of the SUI token model, Justin Bons, founder and Chief Investment Officer of the crypto venture fund Cyber Capital, commented, "It turns out that all 'undistributed' supply of SUI has already been distributed… 'Every token to be released has already been allocated' (as stated by the Sui Foundation), so who is being dishonest here? 84% of the staked supply of SUI tokens is still controlled by its 'founders'. Critics have taken a screenshot of the website quoted in SUI's response, which doesn't even include 52% of the 'undistributed' supply, and now it turns out that this supply has been allocated to the foundation. The 2030 unlock of this 'undistributed' supply is just an unsecured promise, and the foundation has legally covered itself. Custodians usually do not provide locking services, so making these legal contracts public would make this claim more credible. In that case, you have to trust the foundation and the custodian. Even then, this is far from ideal. SUI has no locking mechanism on-chain; it can be transferred. At least now we know who controls these 'undistributed' supplies. Calling a large supply 'undistributed' and then admitting that these supplies have been allocated to the foundation. This is a wake-up call; given the history of cryptocurrencies, SUI should improve its communication." Justin Bons called out the Sui Foundation, saying, "If you are also committed to transparency, please stop calling the allocated staked supply 'undistributed' and prove to us that you cannot transfer those SUI. Otherwise, we will continue to expose your hypocrisy regarding transparency statements."
Puffer Finance: Mainnet to launch this Wednesday
Ethereum liquidity staking protocol Puffer Finance announced on the X platform that the mainnet of Puffer will launch this Wednesday, and the 5x Puffer points promotion will end.
Important Data
Bitcoin network transactions have exceeded 1 billion
According to Cointelegraph, Clark Moody data shows that the 1 billionth transaction on the Bitcoin network has been completed, which occurred at block height 842,241 at 05:34:43 on May 6th Beijing time. Since the anonymous creator of Bitcoin, Satoshi Nakamoto, mined the first block on the network on January 3, 2009, it has been 15 years, 4 months, and 4 days. This means that in the 5603 days that Bitcoin has existed, an average of 178,475 transactions have been conducted every day. However, the transaction count does not include transactions conducted on the Lightning Network.
Data: Tokens worth approximately $36.16 million will be unlocked next week
Token Unlocks data shows that next week, tokens such as MAVIA will experience a one-time large unlock, with a total release value of approximately $36.16 million. Specifically, Heroes of Mavia (MAVIA) will unlock approximately 7.66 million tokens at 8:00 AM on May 6th Beijing time, accounting for 24.29% of the circulation, with a value of about $30.25 million. Hashflow (HFT) will unlock approximately 13.62 million tokens at 8:00 AM on May 7th Beijing time, accounting for 3.46% of the circulation, with a value of about $4.22 million. Moonbeam (GLMR) will unlock approximately 3.04 million tokens at 8:00 AM on May 11th Beijing time, accounting for 0.35% of the circulation, with a value of about $930,000. Euler (EUL) will unlock approximately 67,900 tokens at 11:20 PM on May 9th Beijing time, accounting for 0.36% of the circulation, with a value of about $390,000.
Market: Bitcoin breaks through $65,000, Ethereum breaks through $3,200
The price of Bitcoin has surpassed $65,000, currently at $65,100, with a daily increase of 1.02%. In addition, the price of Ethereum has surpassed $3,200, currently at $3,210.97, with a daily increase of 1.6%.
Top 5 buyers of FRIEND have accumulated nearly $3 million in unrealized gains
According to Lookonchain monitoring, the top 5 buyers of the friend.tech token FRIEND have accumulated unrealized gains of $2.89 million. The market shows that FRIEND is currently trading at $2.62, with a 24-hour increase of 67.1%.
Investment firm under Polygon founder transferred 21,519 ETH to CEX in the past seven days
According to on-chain analyst @ai_9684xtpa, Symbolic Capital Partners, a venture capital firm created by the founder of Polygon, seems to have been selling ETH recently. The firm deposited 42,050 ETH worth $13.18 million to Binance in the past 18 hours, and has transferred a total of 21,519 ETH worth a staggering $66.79 million in the past seven days.
Only 610 ETH were burned yesterday, marking a new low for the year
According to The Block, Ethereum gas fees are currently hovering between 5 and 10 gwei, which is one of the lowest levels so far this year. The decrease in network fees has led to a reduction in the amount of ETH being burned. On Sunday, only 610 ETH were burned, marking a new low for the year. In comparison, the daily ETH burn in the first four months of this year remained at 2,500-3,000 ETH.
According to Ultrasound.money, Ethereum's supply has experienced inflation in the past week, with a supply growth rate of 0.49%, contrary to its previous deflationary nature. If activity picks up and more ETH is burned than issued, it will once again enter a deflationary state.
Data: 6 Hong Kong virtual asset ETFs traded a total of HK$60.43 million today
Hong Kong stock market data shows that 6 Hong Kong virtual asset ETFs all saw significant gains today. As of the close, the total trading volume of the 6 Hong Kong virtual asset ETFs reached HK$60.43 million. Among them, Huaxia Bitcoin ETF (3042.HK) had a trading volume of HK$25.14 million, Huaxia Ethereum ETF (3046.HK) had a trading volume of HK$3.785 million, CSOP Bitcoin ETF (3439.HK) had a trading volume of HK$13.3317 million, CSOP Ethereum ETF (3179.HK) had a trading volume of HK$3.1312 million, Bosera HashKey Bitcoin ETF (3008.HK) had a trading volume of HK$12.4751 million, and Bosera HashKey Ethereum ETF (3009.HK) had a trading volume of HK$2.5694 million.
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