Crypto Guides, Knowledge & Insights

Justin Sun Liquidates 30,000 ETH From Lido, Holds $491.6M in Staked Holdings

Prominent blockchain entrepreneur Justin Sun withdraws 30k ETH ($56M) from Lido platform.　　Sun still holds 263k ETH ($491.6M), demonstrating continued interest in Ethereum ecosystem.　　Sun earned 5,194 ETH ($9M) and 4.87% annual percentage yield (APY) through staking activities.　　Two addresses associated with Justin Sun, the prominent blockchain entrepreneur and founder of TRON, have withdrawn a substantial amount of Ethereum (ETH) from the Lido platform.　　The withdrawals, totaling 30,000 ETH, amounted to an estimated value of $56 million. The transactions took place just one hour ago, according to blockchain data.　　Despite the recent withdrawals, Justin Sun still holds a significant stake in Ethereum. Currently, he has 263,294 ETH, valued at approximately $491.6 million. The substantial holdings demonstrate his continued interest and confidence in the Ethereum ecosystem.　　Justin Sun had previously staked a considerable amount of ETH in Lido. Between February 25 and February 27, he staked a total of 288,100 ETH, equivalent to approximately $538 million at the time. As a result of his staking activities, Sun earned a considerable amount of additional ETH. In total, he earned 5,194 ETH, valued at approximately $9 million.　　Moreover, the staking activities allowed Justin Sun to generate a daily income of 38 ETH, equivalent to approximately $72,000. Based on the data

2023-07-11Deep Dive

Web3 Ventures Investment Q1/2023 About $2.8B, Down 80% YoY: Report

Data shows that Web3 ventures in the first quarter of 2023 about $2.8 billion down 80% from the same period last year.　　The figure is estimated at around $4 billion by the end of Q2 and may not be reached due to the challenging market.　　According to The Block, research data by K33 Research shows that Web3 ventures in the first quarter of 2023 fell 80% year-on-year to just $2.8 billion.　　Anders Helseth, managing director at K33 Research, said that if you look at Web3 and crypto totals, venture capital investment in the first half of 2022 will be $15 billion. However, that figure is estimated at around $4 billion in the first and second quarters of this year and could fall further.　　As previously reported, a study by analytics firm K33 Research showed that the number of jobs in the crypto industry has dropped by 10% over the past year (about 190,000 to 210,000).　　Nearly 30% of the 190,000 crypto workers live in the US and Asia, and Australia together comprise around 35% of the global crypto workforce. India accounts for 20% of Asia‘s jobs, more than China. Meanwhile, mainland Europe is home to 24% of the world’s crypto jobs, with the UK leading

2023-07-11Deep Dive

AAVE Community Initiates "GHO Mainnet Launch" Proposal

What is GHO？　　GHO is a decentralized, collateral-backed, USD-pegged stablecoin native to the Aave DAO. The concept of the GHO stablecoin was introduced by the AAVE community in 2022, and the formal proposal for its launch began on July 10, 2023.　　The proposal suggests introducing GHO to the Ethereum mainnet through the Aave V3 Helper and FlashMinter Helpers. This will enable Aave V3 users on Ethereum to mint GHO using their collateral. The financial framework of GHO will be managed in a decentralized manner by the Aave DAO, allowing the DAO to change the interest rate of GHO at any time through the governance process.　　The launch of GHO has several impacts on the protocol:　　As the native stablecoin of AAVE, GHO can generate additional income for the protocol. All interest earned from lending GHO will go to the AAVE treasury.　　As a leading protocol in the DeFi lending space, the introduction of GHO expands the ecosystem of AAVE, making it more comprehensive.　　The empowerment of AAVE token is strengthened, as stkAAVE holders can enjoy reduced borrow rates.　　This article does not constitute investment advice. The information provided is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments carry inherent

2023-07-11Deep Dive

Execution of QuickSwap's Native Token $QUICK Split Proposal Leads to Short-Term Price Surge

The QuickSwap community conducted a vote on token split ratio from March 12th to 17th this year. The proposal to split QUICK at a ratio of 1:1000 was approved by the community. The original total supply of QUICK was 1 million tokens, and after the split, the total supply will increase to 1 billion tokens.　　On July 9th, the official team updated the user interface (UI), allowing QUICK holders to convert their QUICK (Old) tokens to the new QUICK tokens. The official link currently supports the conversion of QUICK tokens on the Polygon network.　　Subsequently, on July 10th, Binance announced its support for the token swap and incremental issuance of QuickSwap (QUICK) tokens. As a result, the QUICK token experienced a significant increase of over 35% within a short period of time.

2023-07-11Deep Dive

Binance's Latest Launchpad Project Arkam Conducts Airdrop Snapshot on July 8th

Binances latest Launchpad project, Arkam, has announced that the airdrop snapshot was conducted on July 8th. Accounts identified as witch attackers or attempting to manipulate the system have been flagged and disqualified. The airdrop will go live on Tuesday, July 18th, and users can claim their tokens through the dashboard.　　Arkam is an on-chain data platform that integrates on-chain address labeling, individual token analysis, and visualization tools. It also offers a unique bounty program where buyers can request information from the community through bounties, and bounty hunters can submit the requested information to earn rewards.　　ARKM is the native token of Arkam, with a total supply of 1 billion tokens. 5% of the tokens are allocated for Binances Launchpad, and the initial circulating supply is 150 million tokens (15%).　　Arkham has faced criticism within the crypto community for its reputation of privacy vulnerabilities and centralization concerns. Here are some points that have been raised:　　Arkhams URL for recommended code in the private beta version is prone to exposing email addresses.　　The intel bounties feature allows users to anonymously publish and accept bounties for blockchain transaction information. Once a bounty is completed, any entity that paid the bounty will have exclusive access to the data for

2023-07-11Deep Dive

RFK Jr. Reveals Shocking Bitcoin Losses: May Conference Speech Fails

Robert F. Kennedy Jr. invested in Bitcoin despite denying it in May speech.　　Kennedy has between $100,001 and $250,000 worth of BTC in a brokerage account.　　Kennedy is a proponent of BTC, tweeting that it points the way toward a more transparent and democratic future.　　Democratic U.S. presidential candidate Robert F. Kennedy Jr. made headlines in the cryptocurrency world when it was revealed that he holds between $100,001 and $250,000 worth of Bitcoin in a brokerage account.　　This news came as a surprise, as Kennedy initially denied being a Bitcoin investor during a conference in Miami in May. However, recent financial documents have shown that the nephew of former president John F. Kennedy is indeed a cryptocurrency investor.　　Kennedys investment in Bitcoin was made after he delivered a pro-cryptocurrency speech at Bitcoin Miami. A representative for the presidential hopeful told CNBC that the investment does not represent a conflict of interest. Despite concerns over a possible conflict of interest, Kennedy remains a strong proponent of Bitcoin and its potential benefits.　　Kennedy has previously tweeted his support for Bitcoin, stating that it can help protect against totalitarianism and the manipulation of money supply while also promoting more transparency and democracy in government institutions. His investment in BTC

2023-07-10Deep Dive

Hong Kong’s Crypto License Gold Rush Leaves Job Seekers Empty-Handed

Hong Kong crypto firms prepping entry with excitement, but no significant hires yet.　　Talent squeeze expected as Web3 companies wait for license approvals.　　Crypto firms may need to move headquarters to pro-crypto jurisdiction to fill key roles.　　According to recruitment executives, despite the excitement surrounding crypto firms entry into Hong Kong, there have been no in-country hires so far.　　On June 1, about 150 firms applied for a local crypto license that allows them to operate a crypto trading platform in the region. Some firms have even reportedly spent up to $25 million to acquire one. Sue Wei, managing director of major recruitment firm Hays, that while exchanges have been looking to establish a base in Hong Kong, the industrys hiring needs are currently “light.” However, she anticipates that as many Web3 companies continue to grow and mature, there will be an increase in job openings.　　Wei also mentioned a significant decrease in requests for recruiting technical talent since the dip in the crypto market. She said that when talent was laid off en masse, some people became hesitant to work at a crypto company due to the business‘s unstable nature, which primarily relies on the prices of crypto. Similarly, founder of crypto recruiter Cryptorecruit,

2023-07-10Deep Dive

Binance In Crisis When Executives Flee Regulatory Storms

Top executives resign from Binance amid regulatory investigations.　　The exchange faces multiple regulatory challenges globally.　　Operations and market share of the exchange are affected by the investigations.　　According to Fortune, Binance, the renowned cryptocurrency exchange, finds itself in a state of turmoil as key executives step down following CEO Changpeng Zhaos handling of the ongoing regulatory investigations.　　The departures of senior figures, including the general counsel, chief strategy officer, and compliance SVP, signify a critical management and strategic crisis for Binance, intensifying the pressure as these units are directly engaged with regulatory matters.　　The resignation of top executives is expected to complicate Binances defense efforts as it faces multiple investigations from regulators worldwide. Notably, the United States Department of Justice has been conducting a probe into alleged attempts by the exchange to deceive regulators, as well as potential money laundering and sanctions violations on its platform.　　“Its true that I am leaving Binance,” Hillmann tweeted, adding that he was departing on good terms and continuing to respect and support Zhao.　　Alongside lawsuits filed by the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), rumors have circulated that the Justice Department is on the verge of issuing criminal charges against both Binance and CEO

2023-07-10Deep Dive

This Week, 6 Projects to Experience Token Unlocking

According to Token Unlock, 6 tokens will experience unlocking this week.　　On July 11th at 8:00 AM, Moonbeam will unlock approximately 9.68 million GLMR tokens (around $2.64 million), which accounts for 1.44% of the total supply.　　On July 11th at 8:00 AM, Sweat Economy will unlock 2.87 million SWEAT tokens (around $1.74 million).　　On July 12th at 8:00 AM, Aptos will unlock 4.54 million APT tokens (around $31.58 million), representing 2.16% of the total supply.　　On July 12th at 8:00 AM, Pendle will unlock 4.54 million PENDLE tokens (around $0.38 million).　　On July 15th at 6:00 PM, ImmutableX will unlock 18.08 million IMX tokens (around $15.68 million), which accounts for 1.74% of the total supply.　　On July 16th at 8:00 AM, Flow will unlock 7.29 million FLOW tokens (around $5.19 million), representing 0.7% of the total supply.

2023-07-10Deep Dive

Messari Releases Q2 Project Reports for Multiple Projects Within a Week

Messari Releases Q2 Project Reports for Multiple Projects Within a Week, Including WAX, EOS, Livepeer, Synthetix, XRP, and 1inch.　　Messari released Q2 project reports for multiple projects within a week, including WAX, EOS, Livepeer, Synthetix, XRP, and 1inch. The token prices of WAX, EOS, and XRP have experienced a decline of over 10% compared to the previous quarter. Additionally, when comparing on-chain data such as active addresses, the performance of WAX, EOS, and XRP as L1 public chains was relatively poorer.　　In comparison, Synthetix has shown impressive data with a significant increase in trading volume in Q2 compared to Q1.　　However, Synthetix has not experienced significant growth in protocol revenue, mainly due to the reduction in fees for market makers and takers.

2023-07-10Deep Dive

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