Mysten Labs Celebrates Sui Protocol's First Anniversary with Major Partnerships and Optimistic Outlook for Web3
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Daily Top Performer — Near Protocol (NEAR)
Last week, the SPX index is up 0.55%, and the jobs report for April indicated a slowdown in hiring, which fell short of expectations and was lower compared to March. Additionally, Berkshire Hathaway reported a significant reduction in its Apple holdings at its annual shareholder meeting. The broader cryptocurrency market is down, with Bitcoin and Ether dropping by 0.35% and 0.26%, respectively in the past 24 hours.
Today’s outperformer is NEAR, which jumped 8.0% after Prom enhances ecosystem scalability with NEAR Protocol Data Availability integration.
Near Protocol (NEAR), launched on April 2020, is a decentralized platform using sharding for efficient app development and operation. Prom has announced the integration of the NEAR Protocol Data Availability (DA) solution into its ecosystem. This strategic move aims to enhance scalability for rollup developers by offering low-cost, reliable, and high-performance data availability. The integration allows for greater flexibility in addressing blockchain architectural constraints and promises more updates in the future.
Check Out the Latest Prices, Charts, and Data of NEARUSDT Perp and NEAR/USDT Spot!
Talk of the Town:
Mysten Labs, the creator of the Layer 1 Sui protocol, celebrated its mainnet's first anniversary with significant growth and notable partnerships with major tech companies like Google and TikTok's parent company, ByteDance. The CEO of Mysten Labs, Evan Cheng, expressed optimism about the future of blockchain technology, predicting a transformative "ChatGPT moment" for web3. The company announced new ecosystem partnerships focused on enhancing security and scalability with Alibaba Cloud and Google Cloud, and developing web3 gaming and other digital initiatives with BytePlus. Despite facing stiff competition from other blockchains and having fluctuated in the rankings of total value locked (TVL), Sui remains a strong contender in the blockchain space, boasting robust transaction volumes.
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Spot Bitcoin ETF Flows:
Date | GBTC (M) | Non-GBTC (M) | Total (M) |
29 Apr 2024 | (24.7) | (26.9) | (51.6) |
30 Apr 2024 | (93.2) | (68.4) | (161.6) |
01 May 2024 | (167.4) | (396.3) | (563.7) |
02 May 2024 | (54.9) | 20.5 | (34.4) |
03 May 2024 | 63.0 | 315.3 | 378.3 |
Total | (277.2) | (155.8) | (433) |
Prices dropped from around $64,000 to below $57,000, with significant ETF outflows peaking at $563.7 million on May 1. Concurrently, Grayscale’s GBTC saw major outflows, while some ETFs like Ark Invest’s ARKB experienced inflows.
Check Out the Latest Prices, Charts, and Data of BTCUSDT Perp and BTC/USDT Spot!
Airdrop to Watch:
LayerZero Labs has completed the snapshot for its upcoming ZRO token airdrop, an essential milestone in the protocol's development aimed at fostering cross-chain interoperability. The airdrop, set to occur in the first half of 2024, has sparked significant anticipation within the DeFi community, evidenced by trading activity on Hyperliquid DEX, where ZRO's perpetual futures are priced at $8.4, indicating a $17 billion valuation. However, concerns persist about the potential adverse effects of Sybil users, who may exploit the airdrop for short-term gains, as seen in other recent airdrops, which could impact ZRO's price stability post-launch.