The first quote|BTC pullback, the alts is generally fall; Grayscale withdraws Ethereum futures ETF application; Solana DePIN project acquisition of the PlanetWatch network; LayerZero said it strictly prohibits employees from claiming Airdrops

Crypto World Daily Summary: Grayscale withdraws Ethereum futures ETF application; Solana DePIN project acquisition of the PlanetWatch network; LayerZero said it strictly prohibits employees from claiming Airdrops

Let's start with Bitcoin ETF trading activity, according to Farside Investor data, Grayscale Bitcoin Spot ETF (GBTC) continued to flow $2,860 on May 7; Meanwhile, Fidelity Bitcoin Spot ETF (FBTC) saw inflows of $4.1 million and ARK 21Shares Bitcoin Spot ETF (ARKB) saw inflows of $2.8 million.

Grayscale's Spot Bitcoin ETF two consecutive days of net inflows ended a 78-day streak of outflows, and today's outflows ended that. Bloomberg ETF analysts believe that "this could be a short-term tactical trade or some kind of pair trade." ”

The futures trust ETF filed by New York Securities exchange Arca, Inc. last September was withdrawn on May 3, according to filings with U.S. SEC. It is unclear why the proposal was withdrawn. New York Securities exchange Arca declined to comment. Grayscale did not immediately respond to a request for comment.

The SEC has previously postponed considering Grayscale's Ethereum futures ETF, most recently in March. However, the SEC previously approved a batch of Ethereum futures ETFs in October 2023, which included ProShares, VanEck, and Bitwise.

Over the past few weeks, U.S. SEC have postponed decisions on Ethereum ETF Spot, including one from Grayscale. Over the past few months, optimism about the approval of such products SEC in the United States has waned. Bloomberg ETF analyst Eric Balchunas lowered his estimate of the likelihood of Ethereum ETF Spot approval by the end of May from around 70% to 25%.

Decentralization physical infrastructure network Ambient, which focuses on collecting environmental data, has raised $2 million in a seed funding round. Luca Franchi, co-founder and chief executive officer of Ambient said the fundraising activity began in February and ended in April.

Ambient was founded in January of this year, followed by the acquisition of the PlanetWatch network in March. Franchi noted that the project is based on DePIN and focuses on short gas quality monitoring, and the decision was made to migrate to Solana Blockchain.

The PlanetWatch network currently has its own Token, PLANETS, on the Algorand Blockchain, but Ambient intends to launch its own new Token on Solana.

"The current network is powered by the PLANETS Token," Franchi said. In the coming weeks, we'll be releasing a roadmap to launch new Tokens on Solana, as well as migration incentives and platform overhauls to drive Ambient ambitions. ”

LayerZero – an interoperability protocol designed to provide developers with the ability to build cross-chain applications with modular security parameters. LayerZero Labs is a core contributor to the protocol.

LayerZero Labs completed an initial Snapshot of its potential Airdrop on May 1. However, co-founder Bryan Pellegrino confirmed on May 6 that LayerZero Labs employees will not be eligible for the upcoming Airdrop and are strictly prohibited from claiming the project's Tokens.

Polygon's modular blockchain project Avail posted on the X platform that it has opened the second phase of the Airdrop Claim, which will last from now until 16:00 UTC on May 12. To reward the Avail community, the second phase will introduce rewards for long groups, including: rewards for more long Clash of Nodes participants; Rewards for Polygon PoS Liquid Stake protocol users.

Market Analysis: BTC pullback alts generally fall

⭐️ An overview of the broader market trend

Today Crypto Assets market underperformed, breaking $63,000 BTC fall. ETH also fell, fall broke the $3,000 mark, and other alts also generally fell fall. On the macroeconomic front, the U.S. stock market was volatile, and hawkish comments from Federal Reserve officials further weighed on the market, leading to a decline in the encryption market.

** ⭐️ Market hotspots

The price of ERN Fluctuation: ERN Token big pump by more than 30% after announcing the launch of an AI-based Layer 2 solution, but then the pump has retreated. This technology upgrade has significantly stimulated interest and investment in ERN. Another Layer 2 protocol MODE based on Optimism big dump price after the launch of the trading platform, which may be due to the fact that the Layer 2 solution is too long in the current market, resulting in the distraction of investors' attention and funds.

Significant pump of TRB: As a strong dealer coin, TRB (Tellor) once pump increased by 10 times at the end of 2023, showing extremely strong market manipulation characteristics. Today's TRB big pump of 20% shows how active it is when the market is volatile.

Development of the Solana ecosystem: Sanctum, the second phase of the launch project of the Solana leading DEX Jupiter, is about to issuance Token. Sanctum, a liquid staking platform, announced a Snapshot on May 10 where users who deposit SOL will receive Airdrop Credits. This dynamic adds more long engagement and activity to the Solana ecosystem.

The current encryption market is affected by longest factors, including macroeconomic uncertainty and Fed policy expectations. Investors should be cautious during this period, especially for coins that rely on strong dealer manipulation and high Fluctuation. Investors should do a good job in risk management, allocate their portfolios reasonably, and pay close attention to market dynamics and relevant news in order to make informed investment decisions.

Macro: U.S. markets continue to pump, Asian markets are calm and cautious

On May 7, U.S. markets extended their pump, with the S&P 500 closing higher for the fourth straight session, its best winning streak since March. And the Dow Jones is on its longest upward pump trend since December 2023, pump for the fifth consecutive session.

Specifically, the Dow Jones pump 0.08% higher, the S&P pump 0.13% higher, and the NASDAQ fall slightly lower by 0.1%. AMONG THE LARGE COMPANIES, THE STOCKS OF META, ALPAHBET, APPLE AND OTHER COMPANIES REPRESENTING TECHNOLOGY STOCKS HAVE PUMPED.

Friday's non-farm payrolls data and better-than-expected earnings reports helped ease investors' expectations of sticky inflation and a strong economy. A strong economy has also kept Intrerest rates high.

Overall, the message from the Fed and policymakers in recent weeks has been consistent that rate cuts are coming, but the Central Bank will be cautious in implementing them. Investors are ready to focus on the producer price index (PPI) and consumer price index on May 14, and the CPI expected to be released around May 15.

Asian markets remained fairly quiet at the midpoint of the week on May 8. Hong Kong stocks finally falls on Tuesday, while Asian and emerging market indices are largely flat.

The MSCI Asia Pacific Equity Index fall 0.19%, Mainland China Blue-Chip Stocks fall, and Hong Kong's Hang Seng Index pump 0.52%. Japan's Nikkei falls about 1% as traders took profits after pumping 1.6% in the previous session. Tech-heavy indices also succumbed to falling pressure from the sell-off in U.S. chip stocks on Tuesday.

In terms of coins, despite low US Treasury yields, the US dollar remained firm as the market assessed signals from US policymakers and economic data on the direction of the Federal Reserve's Intrerest Rate. The yen remains at a disadvantage, despite Japanese authorities saying they are intervening in monetary coins to support the yen.

In commodities, Brent crude futures fell fall 32 cents, or 0.38%, fall to $82.84 a barrel. U.S. West Texas Intermediate crude futures fell fall 28 cents, or 0.36%, fall to $78.10 a barrel.

Gold falls 0.16% to around $2,310 an ounce.

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.