a16z Crypto releases zkEVM solution Jolt SHDW rises more than 20% in a day

Headline

▌a16z Crypto releases zkEVM solution Jolt, using SNARK to provide a framework for EVM-compatible Rollups

a16z Crypto releases a zkEVM solution called Jolt to use SNARK to provide a framework for EVM-compatible Rollups. a16z Crypto said: "In addition to the increase in speed, Jolt is based on a new design paradigm, which makes it easier for developers to expand and audit, thereby improving security."

▌SHDW briefly broke through $2.5, with a daily increase of more than 20%

The market shows that SHDW briefly broke through $2.5 and is now at $2.23, with a daily increase of 20.7%. The market fluctuates greatly, please do a good job of risk control.  

Previously, Coinbase announced that it will launch Shadow Token (SHDW), and trading will begin at around 12 noon Eastern Time on April 10.

Market

As of press time, according to Coingecko data:

BTC's latest transaction price is $69,205.12, with a daily increase or decrease of -3.4%;

ETH's latest transaction price is $3,506.48, with a daily increase or decrease of -5.1%;

BNB's latest transaction price is $581.41, with a daily increase or decrease of -1.0%;

ORDI's latest transaction price is $68.02, with a daily increase or decrease of -10.2%；

DOGE's latest transaction price is $0.1887, with a daily increase or decrease of -6.9%；

SOL's latest transaction price is $172.69, with a daily increase or decrease of -4.5%。

Policy

▌US Congressman: Cryptocurrency will become an important issue in the Senate campaign

US Republican Senator Cynthia Lummis said the Republican Party is working to ensure that the Senate Banking Committee seats are taken back from the Democrats while promoting cryptocurrency. She called on cryptocurrency enthusiasts to participate in the election public forum, urging candidates to answer questions about their positions on digital assets. Lummis pointed out that the important elections in Ohio will determine the majority status of the Senate and the leadership of the Banking Committee, and predicted that cryptocurrency issues will become a focus. Sherrod Brown, a Democratic congressman who currently dominates the Senate, is skeptical of digital assets, while his Republican challenger Bernie Moreno is a cryptocurrency enthusiast. Lummis suggested that industry insiders actively participate in public forums to ensure that candidates express their views on cryptocurrency issues.

Blockchain Applications

▌NFTfi Foundation announces NFTFI token economics details, total supply of 2 billion

The NFTfi Foundation of NFTfi, an NFT lending protocol, announced the launch of the governance token NFTFI and announced the token economics. NFTFI is a native ERC-20 token and plans to become a mechanism for voting on NFTFI governance proposals. The token supply is 2 billion and the initial circulation is expected to be 220 million. The token was created on March 19, 2024 and will open the NFTFI claim portal later in April (the specific date is to be determined). The token distribution details are as follows: 1. Community and rewards (25% – 500,000,000 NFTFI); 2. Foundation and ecosystem (23.3% – 465,952,487 NFTFI); 3. Early strategic supporters and strategic supporters (15.2% + 20.4% – 712,356,127 NFTFI) 4. Core Contributors (16.1% – 321,691,386 NFTFI). It is reported that the NFTfi Foundation will soon announce and establish the NFTfi Council as the first step towards a decentralized governance system.

Cryptocurrency

▌VanEck CEO: On-chain transaction fees are more worthy of attention than spot ETFs

VanEck CEO said that on-chain transaction fees outside of Bitcoin and Ethereum ETFs are more worthy of attention. He pointed out that the SEC did not respond to the application, suggesting that the Ethereum ETF may not be approved before the May deadline. Van Eck believes that the cryptocurrency industry should pay more attention to transaction fees rather than Bitcoin or Ethereum and their related ETFs. He emphasized that new solutions such as Solana and Layer 2 provide lower and predictable fees, which are expected to promote the development of applications.

▌Portal Announces Plans to Integrate Stacks into Portal DEX

Portal DeFi announces plans to integrate Stacks into Portal DEX and enable cross-chain sBTC trading. This move will be implemented in the months following the launch of Nakamoto, followed by the release of sBTC. Portal's Stacks integration will unlock Bitcoin as a fully programmable, productive asset. Portal DeFi is the first trust-minimized, Layer 2 cross-chain platform with no bridging, custody or wrapping required.

▌The total transaction volume of Optimism and Base network on Synthetix platform last week was US$526.6 million

Synthetix released its perpetual contract data for last week (April 1 to April 8) on the X platform, with a total transaction volume of US$526.6 million (Optimism: US$445 million, Base: US$81.6 million); average daily transaction volume: US$75.2 million (Optimism: US$63.6 million, Base: US$11.7 million); cumulative transaction volume: US$53.42 billion (Optimism: US$52.98 billion, Base: US$411 million); cumulative transaction fees: US$40.67 million (Optimism: US$40.49 million, Base: US$171,000).

▌Spot Bitcoin ETFs had a net outflow of approximately $101.7 million on April 9

According to Lookonchain data, on April 9, 9 Bitcoin spot ETFs (including Grayscale) had a net reduction of 1,476 BTC, with a net outflow of approximately $101.7 million. Among them, Grayscale reduced its holdings by 2,990 BTC, with a net outflow of approximately $205.9 million, and currently holds 322,697 BTC, equivalent to approximately $22.23 billion.

▌GBTC sold 296,000 bitcoins in the past three months

Checkmatey, an analyst at the on-chain data analysis company Glassnode, said that when the Bitcoin exchange-traded fund (ETF) began trading, GBTC held 619,000 bitcoins worth more than $28 billion. In the past three months, almost half of the holdings, or 296,000 bitcoins, have been sold (1.5% of the total bitcoin supply). GBTC's net asset value (AUM) is currently $23.2 billion.

▌Marathon Digital and Riot Platform have a total of about $3 billion in cash and BTC on their balance sheets

Bitcoin mining companies accelerate Bitcoin reserves, Marathon Digital and Riot Platform have a total of about $3 billion in cash and BTC on their balance sheets. The Bitcoin halving is expected to take place around April 20, and the mining reward will be halved to 3.125BTC. The companies plan to use their Bitcoin reserves to drive future growth.

Important Economic Dynamics

▌Fed's Bostic reiterates expectation of one rate cut this year

Fed's Bostic reiterated his expectation of one rate cut this year, but added that he was open to delaying or further rate cuts if economic conditions changed. Bostic emphasized the continued strength of the U.S. economy and labor market, but said signs of weakness in the job market would prompt him to consider earlier and more rate cuts than currently expected. Previously, he said he expected the Fed to cut interest rates in the fourth quarter. He said: "I do think the risks are balanced, given that the U.S. economy has been so strong, robust and resilient - I can't rule out the possibility that we may even have to delay rate cuts further." But he also said: "If I start to get different signals that there will be a lot of pain in the labor market, then I would be willing to change our policy stance and maybe cut rates earlier."

▌The probability of the Fed keeping interest rates unchanged in May is 97.4%

According to CME's "Fed Watch", the probability of the Fed keeping interest rates unchanged in May is 97.4%, and the probability of a cumulative 25 basis point cut is 2.6%. The probability of the Fed keeping interest rates unchanged by June is 42.2%, the probability of a cumulative 25 basis point cut is 56.3%, and the probability of a cumulative 50 basis point cut is 1.5%.

▌The three major U.S. stock indexes closed mixed

The three major U.S. stock indexes closed mixed, with the Dow Jones down 0.02%, the Nasdaq up 0.32%, and the S&P 500 up 0.15%. Hot technology stocks rose and fell, with Tesla up more than 2%, Google up more than 1%, and Nvidia down more than 2%.

Golden Encyclopedia

▌What is Optimistic rollup?

Optimism Rollup technology is one of many scalability solutions proposed by Ethereum developers. They function similarly to zero-knowledge Rollup, but differ in some key ways. By existing on top of Ethereum as a Layer 2 solution, Optimism can process transactions outside the mainnet. Processing data from the Ethereum mainnet can reduce congestion, lower transaction fees, and reduce gas fees. However, Layer 2 solutions require some way to communicate across layers with their parent chain. This is where Optimism Rollup comes in.

Disclaimer: As a blockchain information platform, Golden Finance publishes articles for information reference only and is not intended as actual investment advice. Please establish the correct investment philosophy and be sure to increase risk awareness.