Coinbase's 'Meme Coin BASE' Experiences Sharp Fluctuations... Market Cap of $17.8 Million, Over 90% Price Drop Recorded
The meme coin 'Base is for everyone (BASE)' issued on Coinbase's Layer 2 network Base has surpassed a market capitalization of $17.8 million. The meme coin was issued around 7:30 AM (Korean time) on the 17th, and the community raised suspicions of sniper bot intervention and price manipulation, resulting in a 90% sharp decline. Coinbase stated that it is unrelated to the token launch.
Analysis: "Correlation Between BTC and US Stock Market Weakening"
CoinDesk reported that the correlation between Bitcoin and the US stock market is weakening. The media explained that BlackRock's BTC spot ETF IBIT rose 0.46% during a Nasdaq decline, and while BTC rebounded after Powell's speech, Nasdaq experienced a larger drop.
a16z Proposes Cryptocurrency Custody Guidelines for Investment Advisors
Andreessen Horowitz (a16z) proposed guidelines to the SEC regarding cryptocurrency custody for Registered Investment Advisors (RIA). They stated that RIAs should be guaranteed rights to their assets and self-custody should be permitted under certain conditions.
Binance CEO "Supporting Multi-Country Cryptocurrency Reserve Plans"
In an interview with FT, Binance CEO Richard Teng mentioned the US digital asset reserve policy, stating that Binance is currently preparing strategic reserve plans with multiple countries.
Financial Supervisory Service Governor Meets Hong Kong and Chinese Financial Authorities... "Sharing Virtual Asset ETF Trends"
FSS Governor Lee Bok-hyun met with financial authority heads from Hong Kong and China, sharing regulatory trends including the first Asian virtual asset spot ETF approval and discussing cooperation methods.
Top 10 Exchanges' Trading Volume Drops 16.3% in Q1
CoinGecko announced that the spot trading volume of the top 10 centralized exchanges (CEX) decreased by 16.3% quarter-on-quarter in the first quarter. Upbit recorded the largest decline at 34.0%, while Bybit saw a 52.4% sharp drop.
GSR Appears to Be Market Maker for WCT
According to on-chain analysts, GSR seems to be the market maker for WCT. The related address deposited 7 million WCT (worth $3.46 million) on Binance.
ETH Spot ETF Experiences 17.1 Billion Won Net Outflow... 7 Consecutive Trading Days
On the 16th, the US ETH spot ETF saw a total net outflow of $12.1 million, continuing for 7 consecutive trading days. Large outflows occurred in major ETFs like BlackRock ETHA and Grayscale ETHE.
Analysis: "BTC Investor Sentiment Turning Bullish on Social Media"
According to Sentiment, BTC investor sentiment is entering a bullish zone with optimism spreading. Traders are showing expectations of BTC recovering to $90,000.
Usual Community Conducts Governance Vote to Distribute $17.42 Million USUAL to Holders
The Usual Community is conducting a governance vote to distribute a total of $17.42 million USUAL to USUAL holders. Distribution is planned until June, with 99.95% voting in favor.
RWA-Based Stablecoin R2 Launches Testnet
The real-world asset (RWA) based yield stablecoin protocol R2 has launched its testnet. Users can issue R2USD or stake to earn returns, with mainnet planned for release in the second quarter.
Bitget Lists 5 Tokens on OnChain, Including LEGO
Bitget has listed LEGO, TIME, mt, Defiant, BASE on its OnChain service. The service supports on-chain trading without a separate Web3 wallet.
UXLINK: "About 10 Million UXLINK Staked in Ecosystem Airdrop Season 3"
UXLINK announced that approximately 9.58 million UXLINK has been staked in the Season 3 campaign. Staking participants can receive airdrops and ecosystem benefits.
Shadium to Conduct TGE on 5/15
Shadium (SHM) plans to conduct its Token Generation Event (TGE) on May 15th. Airdrop and sale details will be disclosed later.
Upbit Announces Changes to HBAR Circulation Plan
Upbit changed the circulation plan for Hedera (HBAR) at the project's request. It slightly decreased from 42.2 billion in the first quarter to 42 billion.
Upbit Announces Changes to CTC Circulation Plan
Upbit announced changes to the Credit Coin (CTC) circulation plan at the project's request.
Upbit Announces Changes to SWELL Circulation Plan
Upbit announced modifications to the Swell Network (SWELL) circulation plan.
Bithumb Temporarily Suspends SLF Deposits and Withdrawals
Bithumb announced a temporary suspension of SLF deposits and withdrawals from 2 PM on April 18th to support the Self Chain (SLF) mainnet upgrade.
BTC Perpetual Futures Long/Short Ratio at 3 Major Exchanges
Within 24 hours, BTC perpetual futures ratios are: Binance Long 51.19%, OKX Long 49.24%, Bybit Long 49.29%.
Anonymous Whale Sells $3.5 Million FARTCOIN in 4 Hours
An anonymous whale address sold $3.5 million worth of FARTCOIN in 4 hours. The address still holds 1 million FARTCOIN.
CoinNess Night Live 'EdgeX' AMA in 5 Minutes
EdgeX will appear as the sixth guest on CoinNess Night Live Season 3 and conduct an AMA. Participants will receive badges, pearls, chicken/coffee coupons, and tokens worth $500.
BTC Surpasses $97,000
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