Zircuit’s TVL exceeds $2 billion.

April 23, 2024

Hot projects + Market overview

I. Mainstream exchange news

• Binance to support Kava (KAVA) network upgrade.
• Coinbase to list Karrat (KARRAT).
• OKX to launch SAFE token.
• For the first time, crypto exchange WOO X offers tokenized treasury bonds to retail investors.

II. Mainstream projects and trending events

• Zircuit staking plan's TVL breaks through $2 billion.
• Ripple submits objections in court over US SEC's $2 billion fine proposal.
• BlackRock's Bitcoin Spot ETF sees net inflows for the 70th consecutive day.
• Total US dollar stablecoin supply reaches $165 billion, the highest level in nearly two years.
• Ledger Live to offer instant cryptocurrency purchase and exchange services through MoonPay.
• Magic Eden announces the launch of the Runes trading platform, including the Swaps View feature.
• Memecoin Slerf, in the Solana ecosystem, has refunded over $1 million to its presale buyers.
• Biconomy airdrops ARB to BICO stakers, and the airdrop query website is open.
• Liquidity staking protocol ether.fi integrates the Ethereum staking infrastructure SSV Network.
• Galxe community is considering swapping GAL tokens for G tokens at a 1:60 ratio.

III. Funding news

• Liquidity re-staking protocol YieldNest completes a new round of $5.2 million funding.
• GameFi project Uncharted raises $1.7 million in seed funding, led by Shima Capital.
• Shiba Inu raises $12 million for its new blockchain through token funding, participated by Polygon Ventures.

IV. Regulatory news

• The Hong Kong Securities and Futures Commission warns the public to beware of CBEX Group and Bitget Pro involved in suspected fraudulent activities related to virtual assets.
• Venezuela's national oil company to increase cryptocurrency use in oil exports.
• Binance was sued by Canada’s Ontario court, for violating securities laws.
• Thailand will block citizens from accessing "unauthorized" cryptocurrency platforms.

V. Popular projects 

Market overview

BTC tested high to $67,232, rebounding 12.8% from the bottom. The spotlight is now on the $65,400 support level, and whether BTC can sustain above $67,000. BTC holding above $65,400 signals the end of the adjustment phase between $72,797-$59600. Maintaining above $67,000 would indicate a strong performance.

BTC Spot ETF

As of April 22nd, updated data shows that the BTC spot ETF net inflow total was $12.36 billion, single-day net inflow was $42.44 million, single-day turnover was $2.18 billion, ETF net assets account for 4.27% of BTC market value. The main observations are:

GBTC: The single-day net outflow was $34.99 million, with a cumulative net outflow of $16.77 billion. The single-day turnover was $443 million, and the current net asset value is $20.23 billion.

IBIT: no updated data yet;

FBTC: The single-day net inflow was $34.83 million, with a cumulative net inflow of $8.18 billion. The single-day turnover was $381 million, and the current net asset value is $10.21 billion;

ARKB: The single-day net inflow was $22.52 million, with a cumulative net inflow of $2.23 billion. The single-day turnover was $106 million, and the current net asset value is $2.89 billion.

MANEKI soars 300-fold in one day

Launched on April 22nd, the cold-started MANEKI brought high wealth impact to the Solana ecosystem with a single-day surge exceeding 300 times. The IP of MANEKI is based on the 'maneki-neko'. MANEKI’s trading volume over the past 24 hours has hit $176 million, implying considerable potential for cat-themed memecoins' future.

MICKEY garners high market interest

MICKEY, a memecoin with an IP of Mickey Mouse, garners high market interest despite its volatile trajectory. MICKEY saw a staggering one-day surge of 13 times, with the past 24-hour trading volume totaling $27.97 million. However, MICKEY’s current price has declined, leaving a relatively modest market cap of just $1.46 million.

Zircuit’s TVL exceeds $2 billion

Zircuit, a modular zk rollup facilitating AI, currently backs ETH, LST, and LRT asset staking, with a Total Value Locked (TVL) of $2.01 billion. As per the official site, Zircuit has secured investments from notable entities like Pantera, Dragonfly, and Maelstorm and has strategically partnered with EigenLayer, Kelp, Renzo, LIDO, and more. It is expected that Zircuit will issue tokens soon.

On-chain Daily

1. MANEKI: MANEKI is a memecoin on Solana. It has drawn market attention due to high liquidity ($13M). The coin price surged over 1000% within the first hour of opening. 

The current price of MANEKI is 0.00955 USDT with a historic high of 0.015 USDT. The 12-hour increase was 39% (launched on April 22nd), and the current market cap is $83.2M.

2. KARRAT: Coinbase is to list KARRAT, which is a decentralized gaming infrastructure designed to empower the gaming and AI entertainment ecosystems. 

The current price of KARRAT is 0.9 USDT with a historic high of 1.18 USDT. The 6-hour fall was  13% (launched on April 22nd), and the current market cap is $900M. 

3. CONAN: CONAN is a memecoin based on 'Conan', a US war dog that was awarded by Trump in 2019 and touted as a US hero on X. A portion of the coin's income will be donated to organizations supporting injured soldiers and military dogs. (Already mentioned in the April 15th on-chain daily, it has since doubled.) 

The current price of CONAN is 0.0(4)295 USDT with a historic high of 0.0(4)346 USDT. It has a 24-hour increase of 45.1% and a market cap of $30.4M.

4. ANDY: ANDY’s IP is a character in the Pepe comic and is his good friend. Interestingly, ANDY exists not only on Ethereum but also on the Blast and Sol chains. 

The current price of ANDY is 0.000103 USDT with a historic high of 0.00015 USDT. It has a 24-hour increase or decrease of 16% and a market cap of $103M.

5. ERIC:  ERIC is a memecoin based on Musk's goldfish.

The current price of ERIC is 0.037 USDT with a historic high of 0.045 USDT. It has a 24-hour increase of 242% and a market cap of $3.7M.

6. SKI: SKI is a memecoin on Base, with an IP of a dog in a ski hat robbing. 

The current price of SKI is 0.017 USDT with a historical high of 0.024 USDT. It has a 24-hour increase of 87.33%, with a current market cap of $17.3M.

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