The first market|encryption market fluctuates upward; Stacks network begins "Nakamoto reform"; PayPal incentivizes "green miners" and plans to reward BTC; Layer 1 network Neura launches public testnet; global market recovery Rebound

Crypto World Daily Digest: Stacks Begins "Nakamoto Reform"; PayPal proposes a "Green Miner Incentive Program"; Ankr's Layer 1 network, Neura, launches a public Testnet

Let's take a look at the trading activity in Bitcoin ETF, according to Farside Investor data, Grayscale Spot ETF GBTC outflows of $35 million on April 22, while iShares Trust Bitcoin Spot ETF (IBIT) inflows of $19.7 million, Fidelity Bitcoin Spot ETF (FBTC) inflows of $34.8 million, and Bitwise Bitcoin Spot ETF (BITB) inflows of 220 $10,000,000, ARK 21Shares Bitcoin Spot ETF (ARKB) inflows of $22.6 million.

The Stacks Blockchain is about to undergo a major overhaul called "Nakamoto," a tribute to the anonymous creator of Bitcoin. The reform, which will start at Bitcoin Block Height 840,360 in two steps, is expected to be completed in late May. The purpose of the reform is to depeg Stacks' Block production plan with Bitcoin's plan.

Muneeb Ali, the creator of the Stacks network, told CoinDesk that although the Layer 2 network has a higher transaction throughput than Bitcoin (processing about 7 transactions per second), Stacks was originally designed to produce blocks at the same speed as Bitcoin, which led to congestion issues.

Currently, on-chain stake STX value is approximately $1.3 billion, representing about one-third of the total circulating supply of $4.2 billion, making it one of the largest pools of interest-bearing capital associated with Bitcoin. In the past 24 hours, the Token's price has pumped by more than 16%, entering the top 25 Tokens by market capitalization for the first time.

PayPal and EnergyWeb are working together to develop a solution that rewards Bitcoin Miner for using low-carbon energy in their operations.

PayPal said in a blog post on Monday that its Blockchain research team has partnered with the nonprofit EnergyWeb to develop a clean energy verification platform to monitor and reward less energy-intensive Bitcoin Mining businesses. The development of this solution comes at a time when Bitcoin Mining is putting significant pressure on local U.S. power grids and taxpayers.

Bitcoin Mining is a process in which Miner use large, energy-hungry computers. Paypal's proposed solution would distribute Bitcoin to "green" Bitcoin Miner, i.e., individuals who use low-carbon energy in their mining operations. According to the National Oceanic and Atmospheric Administration, the use of low-carbon mining methods can limit carbon emissions and slow global warming.

Protocol Village's Ankr team has announced that its AI layer-1 chain "Neura" has released a public testnet. The Testnet is built on top of the Cosmos SDK and is compatible with the Ethereum Virtual Machine (EVM). Naura aims to provide a platform for developers who want to build dApps that integrate AI and Web3.

Naura solves key AI startup challenges, such as securing funding, acquiring GPU resources, and efficiently storing data through novel technology combinations. Neura's "Road To Mainnet" program will include a developer contest with $100,000 in grants for top projects. In addition, Naura will also offer rewards to ANKR Token holders, including special perks such as the opportunity to invest in the Token of new AI models.

Market Analysis: The encryption market is volatile and upward, and the meme coin performs strongly

Market Trend

Today, the Crypto Assets market as a whole is showing a volatile upward trend, with meme zone and LSD zone leading the market. In the contract market, both BTC and ETH rates are negative, suggesting that market sentiment may be overly pessimistic, which could signal a potential turning point in market movements.

On the macroeconomic front, U.S. stocks have Rebound after six consecutive fall downs, but the earnings season has not been ideal, which may have an impact on sentiment in encryption markets.

MARKET HOTSPOT

1. Meme zone pump is significant: Token such as PEPE, MOG, SLERF and FOXY have all pump significantly. PEPE, as the engine of the last round of meme market, took the lead again this time, indicating that it may drive a new round of meme market. In addition, Slerf completed a million-dollar refund to Token pre-sellers, and the news spurred its price to big pump.
2. liquid staking coin species also performed strongly: PENDLE, ANKR, SSV and other Token all showed significant pump. On-chain data shows that a large amount of PENDLE has recently been withdrawn from the exchanges, with a total value of more than $11 million, and this large-scale flow of funds may indicate a long-term bullish outlook on these Tokens.
3. Solana on-chain Meme Token Boom: MANEKI achieved a 300-fold price big pump shortly after its launch, market capitalization surpassing $100 million. The cat image meme token has been frequently hyped in the market recently, and the Maneki project has significantly increased its attention on social media.
4. Poor performance of the BTC ecosystem: Both the rune project and BTC Layer 2 have not performed as expected, and the entire BTC ecosystem has generally big dumped recently. As the BTC Halving events pass, the market focus may shift to other hotspots with more potential.

Although the market as a whole shows a volatile upward trend, the differentiation of different zones is obvious. The meme zone and some liquid staking projects show strong market activity and investor interest, while the BTC-related ecosystem is under greater pressure. Investors should consider risk diversification when participating in the market and pay attention to market sentiment and the potential impact of macroeconomic factors on the encryption market.

Macro: Global markets are beginning to Rebound from a week-long downturn;

On April 22, Wall Street stocks closed higher on Monday as investors focused on quarterly results from major companies this week to get a sense of the health of the U.S. economy. At the index close, the Dow Jones pumped 0.67%, the S&P pumped 0.87%, and the Nasdaq pumped 1.11%.

Big tech stocks performed well ahead of this week's quarterly results, driving the Nasdaq up pump. Shares of Alphabet, Amazon and Apple pump between 0.5% and 1.5%, while Nvidia pump 4.4%, Rebound fall 10% in the previous session.

In addition to focusing on the earnings of top companies, markets are awaiting the release of US GDP data and March personal consumption expenditures data later this week, which will be crucial in determining the trajectory of monetary policy, especially for the Fed.

On the European front, Italy's economy minister said that the Central Bank is expected to start cutting interest rates in the second half of 2024. This news had some impact on the market, especially on bank credit flows.

Global equities got off to a positive start on Monday on 23 April, supporting by a recovery in tech stocks, calm fixed income markets and cooling geopolitical tensions, and Asian equities should Rebound on Tuesday. Affected by Wall Street, Asian stock markets extended their pump today. This week's focus turned to the earnings results of US tech giants, with the US dollar remaining strong in terms of coins, causing the yen to fall to a new 34-year low.

Shares of Taiwan Semiconductor Manufacturing Company (TSMC) are expected to Rebound from the fall trend after Friday's fall of 6% and recover from Monday's 1% fall range. According to official data from Taipei, export orders rose less than expected in March, but the government remains confident that the surge in demand for AI applications will drive rise demand for Taiwanese high-tech products in the future.

As AI applications continue to grow in popularity and development, technology companies such as TSMC may benefit from this trend, which in turn will drive stock prices back.

Tuesday's economic calendar is quite rich, with PMI reports from Japan, Australia and India, consumer inflation reports from Singapore and Hong Kong, producer inflation reports from South Korea and industrial production reports from Taiwan.

On the commodity front, oil prices recovered some of their sharp fall gains overnight as investors continued to assess the situation in the Middle East, with Brent futures pump 0.2% to $87.16 a barrel, while U.S. futures pump 0.2% to $82.06 a barrel.

Gold continued to fall 1% to $2295.9 an ounce after falling 2.7% overnight.

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.