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This Week's Noteworthy Events(July 8, 2024-July 14, 2024)

This Week's Noteworthy Events(July 8, 2024-July 14, 2024) WikiBit 2024-07-08 12:13

Quick glance at this week's noteworthy news.

SEC Requests Revisions on S-1 Form for ETH Spot ETF Issuers by July 8

According to The Block, the SEC has returned the S-1 form to potential Ethereum spot ETF issuers with minor comments, asking for revisions to be resubmitted by July 8. This implies at least one more round of filing before the ETF can begin trading.

Bloomberg analyst James Seyffart mentioned that Bitwise Invest has resubmitted a revised Ethereum ETF S-1 form and expects more issuers to do so this week. Analysts believe the Ethereum spot ETF product may list as early as late next week or the week of July 15.

Another Bloomberg analyst, Eric Balchunas, commented, “No one really knows why the SEC is taking so long to process these forms. Given the few comments, trading should begin soon. But there might be some 'issue' slowing the process, or it's just people on summer vacation. All signs point to listing this month, with more details to come next week.”

EOS Staking Program to Launch on July 8 with an Initial 250 Million EOS

The EOS Network Foundation (ENF) announced on its official blog that, based on the new EOS tokenomics, the EOS staking program will launch on July 8, with an initial 250 million EOS entering the staking pool. Users can stake EOS to earn rewards, with a 21-day waiting period to initiate unstaking.

Galxe Announces GAL to G Token Migration Portal Opening on July 9

Galxe announced on the X platform that the Galxe (GAL) token will migrate to Gravity (G) to unify and optimize experiences across both ecosystems. G is the native token of Gravity, supporting both Gravity and Galxe ecosystems. G serves as the gas token for transactions on Gravity, ensuring network security through staking, and is the utility token within the Galxe product suite. As the primary utility token across both ecosystems, G drives governance decisions, incentivizes growth, and facilitates payments.

G will be the native token of the Gravity Alpha mainnet and exist as an ERC-20 token on Ethereum, BNB Chain, and Base, with an initial total supply of 12 billion tokens.

After the on-chain migration, existing GAL tokens will be burned and replaced with new G tokens at a 1:60 ratio. If users do not migrate their GAL tokens, they can retain GAL, but its existing functionalities will fully transition to G.

The migration portal will open to all users on July 9, 2024, and remain online for at least one year to ensure sufficient time for GAL holders to complete the process.

ETHGlobal to Host ETHGlobal Brussels Hackathon on July 12

ETHGlobal announced it will host the ETHGlobal Brussels Hackathon from July 12 to 14, with a prize pool of $500,000. Applications close on July 2 at 7:59. Funding for the event is provided by:

$20,000 each from Gnosis Chain, Chronicle Protocol, LayerZero, Worldcoin, Uniswap Foundation, Avail, Filecoin, Polygon, PancakeSwap, and Web3 Auth.

$10,000 each from Nethermind, NEAR Protocol, Flare Network, Fluence, Pyth Network, Dynamic, ENS, ApeCoin, Celo, Inco Network, Nillion, Blockscout, Zircuit, 1inch, The Graph, Chainlink, Hyperlane, Base, Circle, XMTP, Across, Zerion, Galadriel, Rootstock, and Scroll.

$5,000 each from Fhenix, Neon EVM, INTMAX, WalletConnect, Morph, Metamask, and NounsDAO.

    BNB Chain: Second Sunset Fork Scheduled for July 14, Assets Need to be Migrated

    BNB Chain announced the second Sunset fork is scheduled for July 14. During this time, the BNB Beacon Chain staking functionality will migrate to the BNB Smart Chain, retiring the Beacon Chain. All assets need to be migrated from the Beacon Chain to the Smart Chain:

    • Staked BNB: If staked, BNB needs to be migrated. If not migrated by July 14, it will be automatically unstaked and returned to user accounts within two weeks.
    • BNB and other BEP-2 assets: These assets also need to be migrated from the Beacon Chain to the Smart Chain. If not migrated by August 15, they will be non-transferable. Assets need to be migrated by July 14.
    • Major Unlocks Coming for XAI, IO, APT, IMX, and ENA

      • Xai (XAI): Approximately 198.4 million tokens will be unlocked on July 9 at 9:30 AM UTC, representing 71.59% of the current circulating supply, valued at around $55 million.
      • (IO): Approximately 11.31 million tokens will be unlocked on July 11 at 12:00 PM UTC, representing 3.02% of the current circulating supply, valued at around $5.95 million.
      • Aptos (APT): Approximately 11.31 million tokens will be unlocked on July 12 at 1:59 PM UTC, representing 2.49% of the current circulating supply, valued at around $63 million.
      • Immutable (IMX): Approximately 32.47 million tokens will be unlocked on July 12 at 12:00 AM UTC, representing 2.15% of the current circulating supply, valued at around $41.6 million.
      • Ethena (ENA): Approximately 14.89 million tokens will be unlocked on July 14 at 6:00 AM UTC, representing 0.87% of the current circulating supply, valued at around $5.6 million.

      Notcoin Announces Telegram Gaming Accelerator, Applications Open This Week

      Telegram gaming project Notcoin has announced the launch of the Telegram Gaming Accelerator, aiming to provide blockchain-based Telegram mini-programs for millions of users. Notcoin, in partnership with AI analytics company Helika, plans to expand and launch the gaming developer accelerator. The project, backed by Helika Accelerate's experience and $50 million in funding, will help game studios, mobile apps, and indie developers create outstanding gaming experiences on the Telegram platform and TON chain. The first applications will open this week.


The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.

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