The first quote | Bitcoin Halving Block paid an additional $2.4 million in incentive fees, Merlin Chain launched Token MERL, Marinade DAO proposed to allocate 50 million MNDE, and gold and oil retreated slightly

crypto world Daily Digest: Bitcoin Halving Block pay an additional $2.4 million in reward fees, Merlin Chain launches Token MERL, and Marinade DAO proposes to distribute 50 million MNDE

Let's start with Bitcoin ETF trading activity, according to Farside Investor data, Grayscale Bitcoin Spot ETF (GBTC) saw outflows of $45.8 million on April 22, while Fidelity Bitcoin Spot ETF (FBTC) saw inflows of $54.8 million, Bitwise Bitcoin Spot ETF (BITB) saw inflows of $4.9 million, and 21Shares Bitcoin Spot ETF (ARKB) ARK inflows of 1,250 $10,000,000, with a net inflow of $29.3 million from iShares Trust Bitcoin Spot ETF (IBIT).

Bitcoin ETF The market recorded a net positive inflow of investment before Bitcoin Halving after five consecutive days of loss. Bitcoin market value is expected to increase after the Halving, and Global Investment Strategy recommends adding Bitcoin to existing portfolios. The Bitcoin ETF market reflects this while ending the streak of outflows since April 12.

The confirmation of the fourth Bitcoin Halving Block is an important moment for the Bitcoin network and the Crypto Assets industry as a whole. Through Halving, the supply of Bitcoin is Halving, which means that the Mining is rewarded with Halving Bitcoin, which affects the inflation rate of the Bitcoin and the rate of supply rise.

According to the Blockchain browser, the Halving Block appears to be from the ViaBTC Mining Pool, while Miner were rewarded with around 37.6256 BTC through the Mining as a fee payment for them to verify and process the 3,050 transactions in that Block. This figure reflects the importance of transaction activity on the Bitcoin network and the contribution of Miners to it.

The launch of Merlin Chain's native Token, MERL, marks an important moment in the project's development. As an important enhancement to the Bitcoin network, Merlin Chain aims to facilitate the development of decentralized application (DApp), covering various sectors including DeFi (Decentralized Finance), gaming, and social platforms.

Since its debut in February 2024, Merlin Chain has risen explosively, with a cumulative total Value Locked (TVL) of over $3.6 billion and has incubated a vibrant ecosystem with longest native DApps. The launch of MERL provides users of Merlin Chain with enhanced governance, security, and ecosystem development opportunities.

The MERL Token runs under BRC-20, a Bitcoin compatible Blockchain standard, with a total supply of 2.1 billion. Among them, 20% of the total Token supply will be Airdropped to participants through the Merlin's Seal event. The event showcased an impressive $3.6 billion in TVL, with 91% of the funding coming from the Bitcoin community, including $1.75 billion in BTC and $980 million in BRC-20 assets. Strong support from the Bitcoin community has been crucial to Merlin Chain's rapid rise and expansion in recent months.

Solana stake protocol Marinade DAO has come up with a new proposal to unlock 50 million MNDE Token for the bonus event "Marinade Earn Season 3". The main difference between Season 3 and the previous Seasons 1-2 is that it will be more focused on deepening the on-chain Liquidity of mSOL, which is where Marinade falls relatively short in the SOL LST protocol, compared to other protocol like Jito.

Specifically, the proposal proposes to allocate 25 million MNDE to be achieved by executing a strategy on Solend that makes the cycle of stake from Meteora mSOL/SOL more profitable than current mSOL pools such as Solend and Kamino and other SOL LST, deepening the mSOL Liquidity in Decentralized Finance.

In addition, the proposal proposes to allocate an additional 25 million MNDE to incentivize existing and upcoming Solana ecosystem Tokens to pair with mSOL, thereby further embedding mSOL into the Solana economy and deepening its liquidity.

Market Analysis: BTC Completes Halving The market fluctuates widely

Market Trend:

Bitcoin briefly fall above $60,000 on Friday night, but Bitcoin recovered to $65,000 after completing its fourth Bitcoin Halving on Saturday morning. The overall Crypto Assets market showed a wide range of shocks, and in this rebound, the meme zone was the most active.

On the macroeconomic front, U.S. stocks suffered a big dump, with Nvidia recording its biggest big dump in four years. According to CME Fed Watch data, the probability that the Fed will keep Intrerest Rate unchanged in May is 96.2%, while the probability of a cumulative 25 basis point rate cut is 3.8%.

Market Hot Spots:

1. Meme zone Rebound: In the weekend Rebound, the BONK, PEPE, FLOKI and other Token performance of the Meme zone are the most eye-catching, with an average pump of more than 20%. AMONG THEM, BONK PROPOSED A DESTRUCTION. This is in line with previous expectations, with tokens in the meme zone typically rebounding the fastest in rebounds after market falls.

2. Runes and related Token: inscription SATS, RATS, etc., are represented in the market Rebound, while runestones, leader runestones, have collapsed, and their Airdrop have not covered fall of them. The overall expectation of competing runes is low, and the operation threshold and on-chain gas cost are high, which leads to a large number of users being dissuaded. Runes allow the project party to pre-mine, which is not Decentralization and fairness enough, and fairness is one of the major advantages of the meme zone.

3. AI+Depin concept: io.net has released a points system and is in the closed beta stage. Airdrops are planned for the project in the future, and investors should pay attention to its further developments and announcements to grasp potential investment opportunities.

Overall, although the market is volatile, the meme zone still shows strong market momentum. After BTC Halving, the current output is about 450 BTC per day. Investors should continue to pay attention to macroeconomic developments and industry-specific news to make timely investment decisions.

Macro: Wall Street indices falls on Friday, Asian markets are expected to rebound, gold and oil retreat slightly

On Friday, the Nasdaq and S&P 500 closed lower, but the Dow Jones held steady, mainly affected by American Express's quarterly earnings report. Market sentiment has been affected by pessimism that the Fed may not cut interest rates anytime soon, further eroding market confidence.

Gold and the safe-haven dollar falls from near highs, and crude oil prices also fell. On Wall Street, the S&P 500 posted its longest fall streak since October 2022, and Nvidia in the tech sector big dump 10%, dragging the Nasdaq down fall, while safe-haven Treasuries, gold and the Swiss franc saw rise demand.

Specifically, the Dow Jones pump 0.56%, while the S&P 500 fall 0.88% and the NASDAQ fall 2.05%. The S&P and Nasdaq have been down fall for six consecutive trading days, setting the longest streak of downward fall since October 2022. While chip-related stocks were among the best performers this year due to their ties to artificial intelligence, the Philadelphia Semiconductor Index falls sharply.

In Asian markets, bond yields pumped up on Monday on expectations of a rebound from last week's slump, but Monday's recovery was not easy due to hawkish Fed rhetoric, tensions in the Middle East and weakness in tech stocks.

TSMC shares released its first-quarter earnings report after falling fall 6.7% on Friday, and the data and conclusions released were surprising as the company lowered its expectations for the chip industry's rise and did not revise its capital expenditure plans. Despite this, TSMC, the world's largest foundry chip maker, expects sales to rise by as much as 30% in the second quarter, driven by surging demand for chips in artificial intelligence applications. In addition, TSMC's first-quarter profit also beat expectations.

The euro and yen were relatively stable in early Asian trading on Monday, with the dollar remaining near its elevations after last week's tight policy and geopolitical developments. The market is focused on the Japanese yen this week, with the Central Bank's (BOJ) policy review on Friday becoming an important item on the economic calendar.

Asia-Pacific stock indices pumped 0.93% and Japan's Nikkei pumped 0.48% despite news of the Israeli attack. However, due to the high concentration of chip sector stocks, the Japanese stock market has underperformed other regions.

On the commodities front, crude oil prices falls as traders turn their attention back to fundamentals. Brent crude futures fell fall 54 cents, or 0.6%, fall to $86.75 a barrel on the back of rising U.S. inventories.

The U.S. West Texas Intermediate (WTI) front-month crude contract for May, which expires on Monday, falls 12 cents to $83.02 a barrel. The more active June contract falls 47 cents, or 0.6%, to $81.75 a barrel.

Gold falls to $2376.40.

by Sherry S. & Icing. This article represents the views of the author only and does not constitute any trading advice. The content of this article is original, the copyright is owned by Gate.io, if you need to reprint, please indicate the author and source, otherwise you will be held legally responsible.