Etherscan data update abnormal ARK Invest reduces its holdings in Coinbase shares

Headline

▌Etherscan data center suffered a power outage, block data update abnormal

Etherscan, an Ethereum browser, said that its data center suffered a power outage that affected the server. Although the power supply to the affected server cabinets was restored, this caused an impact on some servers, and the team is working hard to solve this problem. Etherscan is currently undergoing unplanned maintenance, and block data updates are abnormal.

▌ARK Invest sold more than $6.4 million of Coinbase shares yesterday

ARK Invest, owned by Cathie Wood, sold 25,662 shares of Coinbase on April 4, equivalent to approximately $6.405 million.

Market

As of press time, according to Coingecko data:

BTC's latest transaction price is $68,514.02, with a daily increase or decrease of +3.43%;

ETH's latest transaction price is $3,324.42, with a daily increase or decrease of -0.01%;

BNB's latest transaction price is $590.57, with a daily increase or decrease of +4.02%；

ORDI's latest transaction price is $64.05, with a daily increase or decrease of +9.19%；

DOGE's latest transaction price is $0.1794, with a daily increase or decrease of +0.83%；

SOL's latest transaction price is $181.41, with a daily increase or decrease of -0.89%。

Policy

▌JPMorgan: Lido's declining market share may protect Ethereum from being classified as a security

Analysts at JPMorgan said that the decline in market share of Lido, the largest liquid staking protocol on Ethereum, indicates that Ethereum may avoid being classified as a security in the future. Lido's share of staked ETH has further declined from about a third a year ago to about a quarter currently. This should reduce concerns about the centralization of the Ethereum network, thereby increasing the likelihood that Ethereum will avoid being designated as a security in the future.

Blockchain Applications

▌Ethena Labs has added Bitcoin as a supporting asset for USDe

Ethena Labs has added Bitcoin as a supporting asset for its USDe synthetic dollar. The decentralized finance (DeFi) protocol said in a series of posts on X on Thursday that backing USDe with Bitcoin will increase the size of its dollar-pegged token by more than 2.5 times and make its product safer for traders. The move comes as the market for bitcoin derivatives surpasses its Ethereum-based counterparts. “As Ethena approaches $10 billion in size, this will provide more solid support and ultimately provide users with a safer product,” the protocol said Thursday, adding that the current supply of USDe is worth about $2 billion. Ethena also cited bitcoin’s superior liquidity and maturity profile for delta hedging compared to liquid collateralized tokens as a factor in its decision to add bitcoin as a backing asset.

▌EU DLT pilot program stalls, ESMA seeks breakthrough

The distributed ledger technology (DLT) pilot system launched by the European Union has not made any progress in a year, and no infrastructure has been authorized. The European Securities and Markets Authority (ESMA) did not provide a progress report, but sent a letter pointing out five major problems, including cash on-chain issues, competitive challenges, and trading volume restrictions. ESMA called for a possible extension of the pilot system and the relaxation of trading volume restrictions to attract more participants. Among them, NPEX, the Dutch SME stock exchange, is one of the potential applicants.

▌Credbull will launch an on-chain private credit fund to support USDC purchases

Crypto startup Credbull is about to launch an on-chain private credit fund designed to provide investors with exposure to the high-yield loan market that is increasingly popular in the traditional financial sector. It allows investors to buy using USDC, and Credbull converts USDC into US dollars through Circle, and then transfers the funds to SME sponsors, that is, debt financing companies that provide loans to enterprises. According to reports, the fund has a lock-up period of 6 to 12 months, is registered in the Bahamas, and may begin operations in May. It is currently in active discussions with crypto financial platforms considering joining Credbull.

▌UniSat: Preparing to support runes, testnet support is coming soon

UniSat posted on the X platform that the team is actively preparing to support runes and will soon launch testnet support.

Cryptocurrency

▌Coinbase International and Coinbase Premium will launch ORDI and WLD perpetual contracts

According to official news, Coinbase International and Coinbase Premium will add support for ORDI (BRC-20 token based on Bitcoin Ordinals) and Worldcoin (WLD) perpetual contracts, and the ORDI-PERP and WLD-PERP markets will be open at or after 17:30 on April 11, 2024, Beijing time.

▌May be affected by the launch of Coinbase contracts, ORDI rose nearly 15% in the past hour to break through $65

The market shows that ORDI broke through $65 in a short time, reaching a high of $67.49, and fell back to $65.9 as of press time, with an increase of 14.86% in the past hour and 15.87% in the past 24 hours. The market fluctuates greatly, please do a good job of risk control. As previously reported, Coinbase International and Coinbase Premium will launch ORDI and WLD perpetual contracts.

▌Bitwise CIO: Long-term demand for ETFs will drive Bitcoin to new all-time highs

Matt Hougan, chief investment officer of crypto asset management company Bitwise, said that the price of Bitcoin is "highly volatile on a daily basis", but long-term demand for Bitcoin ETFs "will drive Bitcoin prices beyond previous all-time highs".

▌Oppenheimer raises Coinbase stock target price from $200 to $276

New York financial company Oppenheimer announced a significant increase in Coinbase stock target price from $200 to $276, about 10% higher than Coinbase's closing price of $251.58 on Wednesday, while reiterating its buy rating. Oppenheimer said that the continued adoption of digital assets and blockchain technology could help Coinbase remain a major beneficiary in the cryptocurrency field for a long time.

Important Economic Dynamics

▌The probability of the Fed keeping interest rates unchanged in May is 93%

According to CME's "Fed Watch", the probability of the Fed keeping interest rates unchanged in May is 93.0%, and the probability of a cumulative interest rate cut of 25 basis points is 7.0%. The probability of the Fed keeping interest rates unchanged by June is 30.6%, the probability of a cumulative interest rate cut of 25 basis points is 64.7%, and the probability of a cumulative interest rate cut of 50 basis points is 4.7%.

▌The three major U.S. stock indexes closed down collectively

The three major U.S. stock indexes closed down collectively, with the Dow Jones Industrial Average down 1.35%, the Nasdaq down 1.4%, and the S&P 500 down 1.23%. Popular technology stocks fell across the board, with Nvidia down more than 3% and Google down more than 2%.

▌Fed Kashkari: Rate cuts may not be needed this year

Fed Kashkari said that if inflation progress stagnates, rate cuts may not be needed this year, especially if the economy remains strong. "In my March forecast, I thought that if inflation continued to fall back to the 2% target level, there would be two rate cuts this year," Kashkari said at an event on Thursday. "But if the inflation trend continues to go sideways, that would make me question whether we need to cut rates." He pointed out that the inflation data in January and February were "a little worrying" and said he needed to see more progress on the price side to be convinced that inflation was moving toward the Fed's 2% target before considering cutting rates. He emphasized the importance of using inflation data as a guide for interest rate decisions.

▌Stifel: Bitcoin's peak may indicate that the top of the U.S. stock market is coming

Investment bank Stifel (SF) said that Bitcoin's peak may indicate that the top of the U.S. stock market is coming.

Golden Encyclopedia

▌What is an NFT swap order?

NFT swap orders are typically based on predefined parameters agreed upon by both parties, including information about the assets being traded, the quantities involved, and any additional terms or conditions. As the NFT market develops, swap orders are critical to enabling the transfer of digital assets and collectibles between investors, artists, and collectors.

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