[Link to FM] The Terra blockchain resumed block production at 2 am, and the Ethereum network Gas fee has dropped to 20 gwei

【Data Intelligence】

The 24-hour trading volume of the CryptoPunks series of NFTs exceeded $3.7 million, and the trading volume increased by more than 340%

On May 16, according to NFTGo.io data, the 24-hour trading volume of CryptoPunks series NFT reached 3.717 million US dollars, an increase of 340.32%. As of press time, the floor price of this series is 53.8 ETH, an increase of 15.02% in 24 hours.

The total market value of Adidas Originals series NFT dropped to 60.57 million US dollars

According to NFTGo data, the total market value of adidas Originals Intothe Metaverse series NFT dropped to US$605,710,625,800, ranking 31st among all NFT projects in terms of total market value; its 24-hour transaction volume was US$186,323.20, an increase of 8.94%. As of press time, the current floor price of this series of NFTs is 1.4ETH.

【 Regulatory News 】

Report: Central African Banking Regulator Says Crypto Ban Remains in Effect

African regulator the Central African Banking Council(COBAC) has reminded members of the regional economic bloc, including the Central African Republic (CAR), that its ban on cryptocurrencies remains in effect. The regulator’s latest warning follows CAR’s recent decision to adopt bitcoin as the country’s “reference currency.” CEMAC banking regulator COBAC believes the ban will ensure financial stability, Reuters reported. In a statement issued after a special meeting on May 6, the regulator reportedly said it would also take steps to identify and report crypto-related transactions. Meanwhile, the report cites Central African Republic government spokesman Serge Ghislain Djorie, who insisted that COBAC has yet to formally notify his country’s regulators of another boycott of cryptocurrencies.

Dagestan Authorities Seize Over 1,500 Crypto Mining Rigs in Crackdown

Officials from the Ministry of Internal Affairs and the Federal Security Service of Dagestan discovered a large crypto mining farm in the Russian capital Makhachkala, TASS news agency reported. A press release detailed that law enforcement officials have seized 1,476 devices that produce digital currency. The owner of the illegal facility also provides services to other miners, including installing mining equipment, connecting them to the grid, and providing security, the department added.

【Industry Trends】

Venus has resumed operations such as deposits and withdrawals. Users who use UST and LUNA as collateral need to provide collateral to prevent liquidation

According to news on May 16, the lending protocol Venus on the BNB Chain has resumed operations including deposits and withdrawals (except for UST and LUNA). :00 Start normal operation, users need to provide collateral to pay UST or LUNA loans to prevent liquidation. According to the previous news, Venus announced the protocol recovery plan, and will vote to delist LUNA and UST from the market on May 18.

The multi-chain DeFi protocol FEG is suspected of being attacked

According to news on May 16, the multi-chain DeFi protocol FEG was suspected of being attacked, and a total of 143 Ethereum and 32,747 BNB were lost, about 1.3 million US dollars.

Encrypted Music App Inflow Completes $1.5 Million Seed Round Funding, ConsenSys and Protocol Labs Participate

On May 15, the encrypted music application Inflow announced the completion of a $1.5 million seed round of financing. ConsenSys, Protocol Labs and others participated in this round of financing. Inflow mainly helps musicians launch their own cryptocurrency and make profits through Token. Inflow also launched an artist fund to provide financial support for musicians to shoot music videos, launch video podcasts, and hold concerts.

Polygon Studios will dedicate funds and resources to help Terra projects migrate to Polygon

On May 16th, Polygon Studios CEO Ryan Wyatt tweeted that he is working closely with various Terra projects to help them quickly migrate to Polygon, and Polygon will invest funds and resources to deal with these migrations to welcome developers and Their respective communities join the platform and will share more content soon.

The Ethereum network gas fee has been reduced to 20 gwei

On May 15, according to Etherscan data, the current Ethereum network Gas fee has dropped to 20 gwei.

【Elite Viewpoint】

CZ: Binance only invested $3 million in Terra in 2018 and did not receive any UST

On May 15, Binance CEO CZ stated on social media that Binance Labs only invested $3 million in Terra in 2018 and did not participate in subsequent financing. Since UST came after Binance Labs' investment, Binance also didn't get any UST. In addition, CZ said that Binance has been working hard to support the Terra community in recent days. The previous remarks only pointed out the potential problems of the project from the perspective of personal understanding. He hopes that the team's operation can be more transparent and the project can be rebuilt in an appropriate and sensible way. According to previous news, CZ posted on social media that he had never held UST and did not know anything about UST. Since then, because Binance Labs has invested in Terra, CZ's related remarks have aroused heated discussions.

CNBC Tech Reporter: Tether (USDT) Is a Bigger Indicator of Cryptocurrency Market Stability

On May 15th, CNBC technology reporter Kate Rooney commented on the recent crypto market trends, saying that stablecoins are very important to the crypto market, among which Tether (USDT) ranks first with a market value of (more than) 80 billion U.S. dollars. It is a larger indicator of the stability of the cryptocurrency market.

【What to watch today】

Terra blockchain resumes block production at 2am

Terra officially tweeted at 2:00 a.m. that Terra blockchain has resumed block generation, and block delegations are disabled because the new code merge chain has taken effect. Previously, the team said that in order to prevent governance attacks, Terra verifiers have decided to officially stop the Terra chain at the block height of 7603700.

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