The first quote | Tidal and Hashdex open spot bitcoin ETF trading, Blast game Munchables loses $62 million due to a bug, and global markets are calm

Crypto Daily Digest: Tidal and Hashdex Announce Spot Bitcoin ETF Trading, Gaming Project Loses $62 Million on Last, Domo to Upgrade BRC20 Protocol

Looking at the trading activity of Bitcoin ETFs, according to Farside Investor data, the Grayscale Bitcoin Spot ETF (GBTC) saw outflows of $212.3 million on March 26, while the Fidelity Bitcoin Spot ETF (FBTC) saw inflows of $279.1 million, Bitwise Bitcoin Spot ETF (BITB) saw inflows of $16.7 million, and ARK 21Shares Bitcoin Spot ETF (ARKB) saw inflows of $7,360 $10,000.

Tidal Investments and Hashdex Asset Management announced on Tuesday that they are trading their spot Bitcoin ETF in the United States and rebranding the Hashdex Bitcoin Futures ETF to the Hashdex Bitcoin ETF (DEFI).

The ETF expects at least 95% of the fund's assets to be invested in spot Bitcoin, and up to 5% of the remaining assets will be invested in CME-traded Bitcoin futures contracts as well as cash or cash equivalents. According to the Hashdex website, the total net worth size was $11.16 million as of March 27.

"We are excited to complete the DEFI transition and partner with Tidal to launch an innovative product that furthers our mission to make this revolutionary innovation accessible to individuals and institutions around the world," said Marcelo Sampaio, Co-Founder and CEO. Hashdex officials said in a statement.

An NFT game called Munchables on the blast suffered a $62 million loss due to a vulnerability. The protocol allows players to stake Blast ETH and Blast USD (USDB) to earn Blast points and unlock additional in-game perks. Munchables announced in a post on the evening of March 26 UTC that it had been compromised and said it was tracking the attackers' movements and trying to block transactions.

The wallet address shows that the attackers interacted with the Munchables protocol at 9:26 AM UTC and withdrew a total of 17,413 ETH. Now X users are calling on the Blast team to intervene and force the chain to be rolled back to before the breach occurred.

According to BRC20 developer domo posted on platform X, the BRC20 release and burn enhancement proposal will be implemented soon, and it is expected to be upgraded at block height 837090. Proposed changes include the introduction of a self-release mechanism, modification of deployment inscriptions, adoption of 5-byte code, and consensus on a burning method for BRC-20 assets.

In anticipation of a number of new upgrades and optimizations, according to the developers, the default BRC-20 standard uses a public offering method to deploy and distribute assets, and now a new method will be proposed whereby only the deployer can participate in minting once the asset is deployed.

Market Analysis: BTC Consolidates at a High Level, Copycat Season Is Coming?

Market Trend

The current market is relatively stable, with the price of Bitcoin continuing to remain above $70,000, and the overall market is in a volatile pattern. It is worth noting that the net inflow of Bitcoin spot ETFs increased, which had a positive impact on the market. At the same time, the general increase in contract fees on various exchanges indicates that the market's long sentiment is recovering, suggesting that the altcoin season may be coming.

On the macroeconomic front, the U.S. stock market continued to decline, while the U.S. dollar index rebounded. This phenomenon may have some degree of impact on the cryptocurrency market and needs to be closely monitored.

Market Hotspots

1. RWA sector: TRU, RSR, OM, LTO and other currencies rose. AFTER YESTERDAY'S SHARP RISE IN POLYX, TOKEN AND OTHER PROJECTS, FUNDS HAVE FLOWED INTO OTHER COINS IN THE RWA SECTOR. The RWA sector remains a popular segment in the market.

2. POW sector: RVN, LTC and other currencies rose. It is expected that as the Bitcoin halving time approaches, the POW sector will be the focus of market attention, and investors may look to find new investment opportunities in this sector.

3. Memes on the Solana chain: Meme projects on the Solana chain have recaptured the market's attention, with WEN and WIF seeing significant gains. This shows that investors still have a strong interest in meme projects on the Solana chain and need to pay close attention to the relevant trends and risks.

Overall, the market as a whole is still volatile, and investors need to remain cautious and adjust their investment strategies in a timely manner according to market conditions. Especially for hot spots such as the RWA sector, the POW sector, and the Solana on-chain meme project, risk management needs to be strengthened to guard against possible volatility and risks.

Macro: Markets were muted, Wall Street fell, inflation data remained in focus, crude oil and gold fell

Reuters reported that on March 26, U.S. stocks fell on Tuesday, giving up small gains in late trading, and the Dow Jones and S&P 500 fell for the third time in a row, as investors awaited economic data to gauge the economic outlook during a shortened week of the holiday. U.S. markets will be closed on Friday for the Good Friday holiday, and volume is expected to be muted throughout the week.

The focus remains on the key reading of the Personal Consumption Expenditures Price Index (PCE), the Fed's preferred inflation gauge. The data will be released on Friday. The index is expected to rise 0.4% in February and 2.5% on an annual basis. Core inflation, which excludes the volatile food and energy components, is expected to rise 0.3% last month and remain at 2.8% annually after economists polled by Reuters said.

On the economic front, U.S. durable goods orders rose more than expected in February, while corporate equipment spending showed initial signs of recovery. In a separate report, the Conference Board said the consumer confidence index was little changed at 104.7 in March.

The CME's FedWatch tool shows that market expectations that the central bank will cut rates by at least 25 basis points in June are slowly rising, with a 70.4% probability now priced in, up from 59.2% last week.

In Asia, equities were mixed, with MSCI's broadest Asia-Pacific equity index (. MIAP00000PUS), up 0.11%, but down 0.22% if Japanese equities are excluded.

After Japanese authorities intervened at 151.94 in October 2022, the JPY edged higher to the $152 mark against the USD, which some see as a red zone for central bank intervention. The Japanese yen last fell about 0.1% to $151.73.

Chinese Premier Li Qiang's failure to meet with visiting foreign CEOs at the China Development Forum in Beijing on March 24-25 has reignited concerns about China's economic transparency and deteriorating economic relations with the United States. But Xi's personal intervention may indicate his commitment to ensuring China's business openness and improving U.S.-China relations. Or at least prevent them from deteriorating further.

On the commodity front, crude oil prices fell for the second day in a row after reports of a surge in U.S. crude inventories in the world's largest oil consumer and signs that major producers are unlikely to change their output policies at next week's technical meeting. Brent crude futures for May delivery fell 69 cents, or 0.8%, to $85.56 a barrel. The May contract expires on Thursday, and the more actively traded June contract fell 60 cents, or 0.7%, to $85.03.

After surging to a record $2,222.39 on Thursday, gold continued its search for a short-term bottom, falling 0.1% to around $2,176.

Author: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.