Daily Recap 5/7/2024

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News

On May 6, the total trading volume for the six Hong Kong-based Bitcoin and Ethereum spot ETFs was HK$60.41 million, equivalent to US$7.72 million. In contrast, the trading volume for 11 Bitcoin spot ETFs in the United States on the preceding trading day reached US$1.88 billion, which is 268 times greater than that of Hong Kong. Link

According to datamish, Bitfinex whales have increased their BTC long positions significantly over the past month, adding approximately 6,165 BTC. Since April 30 alone, about 3,869 BTC in long positions have been added. The total number of BTC long positions on Bitfinex now stands at 48,978 BTC. Link

Ethereum has experienced a significant drop in the daily amount of ETH burned, hitting a yearly low largely due to decreased gas fees. Currently, gas fees are ranging between 5 and 10 gwei, marking one of the lowest levels observed this year. Link

Crypto lawyers have criticised the SEC for issuing multiple Wells Notices to leading cryptocurrency companies in recent months. One attorney suggested that the SEC might have overextended itself with these actions. Link

Robinhood Markets reported that its cryptocurrency unit has received a Wells Notice from the SEC. The regulatory body has informed the company of its intention to pursue an enforcement action due to alleged securities violations. Link

Projects

Pendle - BitMEX founder Arthur Hayes acquired 500k USDC worth of PENDLE via Wintermute, bringing his total holdings to 1.555 million PENDLE, valued at $8.08 million. The average purchase price was approximately $2.02, resulting in a current unrealized profit of $4.89 million. In his recent blog post, Arthur stated his intention to purchase additional Pendle. Link

Solana - The Solana Foundation recently announced the winners of its 9th hackathon competition. The top prize went to Ore, a project that enables mining using Proof of Work on the Solana blockchain. The event saw participation from over 8,300 individuals across 95 countries, with 1,071 projects submitted in areas such as infrastructure, gaming, decentralised personal information networks, decentralised finance and consumer applications. Link

Disclaimer: This research report is exactly that — a research report. It is not intended to serve as financial advice, nor should you blindly assume that any of the information is accurate without confirming through your own research. Bitcoin, cryptocurrencies, and other digital assets are incredibly risky and nothing in this report should be considered an endorsement to buy or sell any asset. Never invest more than you are willing to lose and understand the risk that you are taking. Do your own research. All information in this report is for educational purposes only and should not be the basis for any investment decisions that you make.

News

On May 6, the total trading volume for the six Hong Kong-based Bitcoin and Ethereum spot ETFs was HK$60.41 million, equivalent to US$7.72 million. In contrast, the trading volume for 11 Bitcoin spot ETFs in the United States on the preceding trading day reached US$1.88 billion, which is 268 times greater than that of Hong Kong. Link

According to datamish, Bitfinex whales have increased their BTC long positions significantly over the past month, adding approximately 6,165 BTC. Since April 30 alone, about 3,869 BTC in long positions have been added. The total number of BTC long positions on Bitfinex now stands at 48,978 BTC. Link

Ethereum has experienced a significant drop in the daily amount of ETH burned, hitting a yearly low largely due to decreased gas fees. Currently, gas fees are ranging between 5 and 10 gwei, marking one of the lowest levels observed this year. Link

Crypto lawyers have criticised the SEC for issuing multiple Wells Notices to leading cryptocurrency companies in recent months. One attorney suggested that the SEC might have overextended itself with these actions. Link

Robinhood Markets reported that its cryptocurrency unit has received a Wells Notice from the SEC. The regulatory body has informed the company of its intention to pursue an enforcement action due to alleged securities violations. Link

Projects

Pendle - BitMEX founder Arthur Hayes acquired 500k USDC worth of PENDLE via Wintermute, bringing his total holdings to 1.555 million PENDLE, valued at $8.08 million. The average purchase price was approximately $2.02, resulting in a current unrealized profit of $4.89 million. In his recent blog post, Arthur stated his intention to purchase additional Pendle. Link

Solana - The Solana Foundation recently announced the winners of its 9th hackathon competition. The top prize went to Ore, a project that enables mining using Proof of Work on the Solana blockchain. The event saw participation from over 8,300 individuals across 95 countries, with 1,071 projects submitted in areas such as infrastructure, gaming, decentralised personal information networks, decentralised finance and consumer applications. Link

Disclaimer: This research report is exactly that — a research report. It is not intended to serve as financial advice, nor should you blindly assume that any of the information is accurate without confirming through your own research. Bitcoin, cryptocurrencies, and other digital assets are incredibly risky and nothing in this report should be considered an endorsement to buy or sell any asset. Never invest more than you are willing to lose and understand the risk that you are taking. Do your own research. All information in this report is for educational purposes only and should not be the basis for any investment decisions that you make.

News

On May 6, the total trading volume for the six Hong Kong-based Bitcoin and Ethereum spot ETFs was HK$60.41 million, equivalent to US$7.72 million. In contrast, the trading volume for 11 Bitcoin spot ETFs in the United States on the preceding trading day reached US$1.88 billion, which is 268 times greater than that of Hong Kong. Link

According to datamish, Bitfinex whales have increased their BTC long positions significantly over the past month, adding approximately 6,165 BTC. Since April 30 alone, about 3,869 BTC in long positions have been added. The total number of BTC long positions on Bitfinex now stands at 48,978 BTC. Link

Ethereum has experienced a significant drop in the daily amount of ETH burned, hitting a yearly low largely due to decreased gas fees. Currently, gas fees are ranging between 5 and 10 gwei, marking one of the lowest levels observed this year. Link

Crypto lawyers have criticised the SEC for issuing multiple Wells Notices to leading cryptocurrency companies in recent months. One attorney suggested that the SEC might have overextended itself with these actions. Link

Robinhood Markets reported that its cryptocurrency unit has received a Wells Notice from the SEC. The regulatory body has informed the company of its intention to pursue an enforcement action due to alleged securities violations. Link

Projects

Pendle - BitMEX founder Arthur Hayes acquired 500k USDC worth of PENDLE via Wintermute, bringing his total holdings to 1.555 million PENDLE, valued at $8.08 million. The average purchase price was approximately $2.02, resulting in a current unrealized profit of $4.89 million. In his recent blog post, Arthur stated his intention to purchase additional Pendle. Link

Solana - The Solana Foundation recently announced the winners of its 9th hackathon competition. The top prize went to Ore, a project that enables mining using Proof of Work on the Solana blockchain. The event saw participation from over 8,300 individuals across 95 countries, with 1,071 projects submitted in areas such as infrastructure, gaming, decentralised personal information networks, decentralised finance and consumer applications. Link

Disclaimer: This research report is exactly that — a research report. It is not intended to serve as financial advice, nor should you blindly assume that any of the information is accurate without confirming through your own research. Bitcoin, cryptocurrencies, and other digital assets are incredibly risky and nothing in this report should be considered an endorsement to buy or sell any asset. Never invest more than you are willing to lose and understand the risk that you are taking. Do your own research. All information in this report is for educational purposes only and should not be the basis for any investment decisions that you make.

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  4. Adipiscing elit ut aliquam purus sit amet viverra suspendisse potenti

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Vitae congue eu consequat ac felis placerat vestibulum lectus mauris ultrices cursus sit amet dictum sit amet justo donec enim diam porttitor lacus luctus accumsan tortor posuere praesent tristique magna sit amet purus gravida quis blandit turpis. Vitae congue eu consequat ac felis placerat vestibulum lectus mauris ultrices cursus sit amet dictum sit amet justo donec enim diam porttitor lacus luctus accumsan tortor posuere praesent tristique magna sit amet purus gravida quis blandit turpis.

  • Neque sodales ut etiam sit amet nisl purus non tellus orci ac auctor
  • Adipiscing elit ut aliquam purus sit amet viverra suspendisse potenti
  • Mauris commodo quis imperdiet massa tincidunt nunc pulvinar
Odio facilisis mauris sit amet massa vitae tortor.

Lorem ipsum dolor sit amet, consectetur adipiscing elit lobortis arcu enim urna adipiscing praesent velit viverra sit semper lorem eu cursus vel hendrerit elementum morbi curabitur etiam nibh justo, lorem aliquet donec sed sit mi dignissim at ante massa mattis. Lorem ipsum dolor sit amet, consectetur adipiscing elit lobortis arcu enim urna adipiscing praesent velit viverra sit semper lorem eu cursus vel hendrerit elementum morbi curabitur etiam nibh justo, lorem aliquet donec sed sit mi dignissim at ante massa mattis. Lorem ipsum dolor sit amet, consectetur adipiscing elit lobortis arcu enim urna adipiscing praesent velit viverra sit semper lorem eu cursus vel hendrerit elementum morbi curabitur etiam nibh justo, lorem aliquet donec sed sit mi dignissim at ante massa mattis.

Vitae congue eu consequat ac felis placerat vestibulum lectus mauris ultrices cursus sit amet dictum sit amet justo donec enim diam porttitor lacus luctus accumsan tortor posuere praesent tristique magna sit amet purus gravida.

Lorem ipsum dolor sit amet, consectetur adipiscing elit lobortis arcu enim urna adipiscing praesent velit viverra sit semper lorem eu cursus vel hendrerit elementum morbi curabitur etiam nibh justo, lorem aliquet donec sed sit mi dignissim at ante massa mattis. Lorem ipsum dolor sit amet, consectetur adipiscing elit lobortis arcu.

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