Solana NFT sales reach $5.3 billion Polygon attracts a large number of new users in Q1

Headlines

▌Solana Chain NFT Sales Reached $5.3 Billion

According to the latest data from CryptoSlam, the total NFT sales on the Solana chain reached $5,342,154,457, and the on-chain NFT transaction volume was approximately 46,669,183, of which the number of on-chain buyers was 2,769,280 and the number of sellers was 1,807,075. Historical data shows that in December last year, Solana chain NFT sales exceeded $365 million, setting the largest single-month record to date.

▌Report: Ethereum and Polygon Attracted Most New Users in the First Quarter of This Year

Flipside's latest report shows that Ethereum and its Layer 2 expansion solution Polygon attracted the most new users to date in the first quarter of 2024, and also the EVM chain with the most cumulative new users observed so far this year. As of March 27, Polygon had 12.3 million new users and Ethereum had 13.4 million new users, accounting for approximately 70% of all observed new on-chain users this year.

Market

As of press time, according to Coingecko data:

BTC's latest transaction price is $69467.28, with a daily increase or decrease of +0.7%;

ETH's latest transaction price is $3455.82, with a daily increase or decrease of +2.8%;

BNB's latest transaction price is $585.04, with a daily increase or decrease of -0.1%;

ORDI's latest transaction price is $75.50, with a daily increase or decrease of +5.9%;

DOGE's latest transaction price is 0.1998 US dollars, with a daily increase or decrease of +7.6%;

SOL's latest transaction price is 179.81 US dollars, with a daily increase or decrease of +0.4%.

Policy

▌Four European countries including Italy cracked down on recovery fund fraud and confiscated 600 million euros in assets including virtual currencies

Italy, Austria, Romania and Slovakia took joint action to arrest 22 people, accusing them of being involved in the EU's new crown post-epidemic recovery fund fraud. During the operation, more than 600 million euros of assets were seized and confiscated, including Lamborghini and Porsche sports cars, Rolex watches, Cartier jewelry, virtual currencies, etc.

Blockchain Application

▌Obol Labs: Distributed validator cluster is ready to be activated in the Lido Simple DVT module

Obol Labs, a development team focusing on proof-of-stake blockchain infrastructure, said that after a period of testing and evaluation, its distributed validator cluster is ready to be activated in the Lido Simple DVT module on the Ethereum mainnet. According to a proposal voted on by the Lido community in October: Distributed Validator Technology (DVT) represents the fastest way to add many new node operators to the Lido node operator set, making the situation of individual and community stakeholder participants more diverse, while benefiting a simple DVT module designed to prove that it is possible to use DVT on the mainnet, while further diversifying the Lido node operators on Ethereum and laying the foundation for more scalable and permissionless modules based on DVT in the near future.

Cryptocurrency

▌Glassnode Analyst: Bitcoin's current breakthrough of ATH is almost the same as before

Glassnode analyst @_Checkɱate posted on social media X that this time Bitcoin's breakthrough of the historical high price (ATH) is almost the same as before. Long-term holders (LTH) began to use the new influx of demand and liquidity to sell their tokens, and smart investors would buy low and sell high.  

In the previous two bull cycles, new demand for Bitcoin was able to absorb long-term holder selling in about 6-8 months, while also pushing prices higher. Given that the typical long-term holder supply is now down 14%, this process is about 40% complete (estimate only).  

Given the flow of funds between spot Bitcoin ETFs and GBTC, the long-term holder supply distribution during Bitcoin's current ATH breakthrough is similar to previous situations. According to calculations, GBTC accounts for about 25% of long-term holder expenditures, while ETF demand accounts for about 40% of net capital inflows.

▌The TVL of Ethereum liquidity re-pledge agreement is currently $8.41 billion

According to DeFiLlama data, the TVL of Ethereum liquidity re-pledge agreement is currently $8.41 billion, among which the top three agreements in TVL are: ether.fi TVL is $3.49 billion; Renzo TVL is $2.005 billion; Puffer Finance TVL is $1.285 billion.

▌The total transaction volume of NFT lending platform Blend has reached $5.723 billion

According to Dune data, the total transaction volume of Blend, an NFT lending platform under Blur, has reached $5.723 billion, with a total of 625,977 loans. The current number of independent borrowing addresses on the platform is 10,013, and the number of independent loan addresses is 4,401.

▌2649.33 BTC flowed out of exchange wallets in the past 24 hours

According to the latest data, 2649.33 BTC flowed out of exchange wallets in the past 24 hours, 33550.17 BTC flowed out of exchange wallets in the past 7 days, and 96139.16 BTC flowed out of exchange wallets in the past 30 days. As of press time, the total balance of exchange wallets is 1,739,405.04 BTC.

Important Economic Dynamics

▌The probability of the Federal Reserve keeping interest rates unchanged in May is 93.3%

According to CME's "Fed Watch", the probability of the Federal Reserve keeping interest rates unchanged in May is 93.3%, and the probability of a cumulative interest rate cut of 25 basis points is 6.7%. The probability that the Fed will keep interest rates unchanged by June is 50.9%, the probability of a cumulative 25 basis point rate cut is 46.1%, and the probability of a cumulative 50 basis point rate cut is 3.1%.

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 Rollups, 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 a correct investment philosophy and be sure to increase risk awareness.