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Cointime News Wrapup-Afternoon: Hong Kong Virtual Bank to Offer Crypto Conversions and Accounts
To smooth and facilitate the reading experience for all users, we hereby compose this wrapup, especially for users who cannot check out what’s going on in a timely manner.
According to ChainCatcher news and Coinglass data, the Grayscale Bitcoin Trust Fund (GBTC) has a premium rate of 0.02%. The Grayscale ETH Trust has a negative premium rate of 22.77%, and the ETC Trust has a negative premium rate of 36.58%.In addition, the Grayscale BCH Trust has a premium rate of 238.13%, the LTC Trust has a premium rate of 380.60%, the SOL Trust has a premium rate of 515.93%, the MANA Trust has a premium rate of 726.65%, the LINK Trust has a premium rate of 713.66%, and the FIL Trust has a premium rate of 3057.89%.
Spot on Chain, a blockchain data monitoring platform, posted on social media that the net inflow of spot bitcoin ETF on March 28th reached 179 million US dollars, a decrease of 26.9% compared to the previous trading day. After 54 trading days, the total net inflow accumulated to 12.13 billion US dollars, which is the level before the last fully negative trading week. BlackRock's iShares Bitcoin ETF (IBIT) and Grayscale's GBTC both saw a significant slowdown in daily inflows and outflows on March 28th.
According to SoSoValue data, the Bitcoin spot ETF had a total net inflow of $179 million yesterday (March 28th, US Eastern Time).Yesterday, Grayscale's ETF GBTC had a net outflow of $104 million, and its historical net outflow is $14.77 billion. The Bitcoin spot ETF with the highest net inflow yesterday was BlackRock's ETF IBIT, with a net inflow of approximately $95.12 million, and its historical total net inflow has reached $13.96 billion. The second is Fidelity's ETF FBTC, with a net inflow of approximately $68.09 million yesterday, and its historical total net inflow has reached $7.56 billion.As of now, the total net asset value of Bitcoin spot ETF is $59.1 billion, and the ETF net asset ratio (market value compared to the total market value of Bitcoin) is 4.25%, with a historical total net inflow of $12.12 billion.
CoinGecko data shows that Ethereum Inscription ETHS has risen by 95.9% in the last 24 hours, now reporting at 7.51 USDT. Earlier, Ethereum founder Vitalik released the latest long article "Ethereum has blobs. Where do we go from here?". As a result of this news, the price of Ethereum Inscription ETHS soared.
According to CoinGape, Tigran Gambaryan, a detained executive of Binance, has filed a lawsuit against the National Security Adviser (NSA) and the Economic and Financial Crimes Commission (EFCC) in Nigeria. Local media reported that on March 28th, Tigran Gambaryan sued the National Security Agency, accusing it of violating his basic human rights and seeking five major remedies from the court.He urged the court to approve the return of his passport and to release him immediately after more than three weeks of detention. He also requested a ban on future detention in similar investigations and demanded public apologies from the National Security Agency and the EFCC.In addition, he requested that the court pay the full amount of compensation for the lawsuit.
After the upgrade and introduction of blobs on Ethereum Dencun, Ethereum founder Vitalik Buterin shared his insights on the future direction of Ethereum's expansion. Vitalik emphasized the transformation of Ethereum's expansion from basic expansion work to centralized, progressive enhancement. Vitalik also stated that developers' focus will shift to the application layer. Ethereum will maintain its roadmap centered on L2, and applications will migrate from L1 to L2 to benefit from faster and more cost-effective transactions. An upcoming upgrade is Data Availability Sampling (DAS), which aims to increase the data space for each slot to 16 MB. Progressive expansion improvements include gradually increasing blob capacity, improving data compression, and EIP-7623 (aimed at reducing maximum block size). Vitalik pointed out that with the reduction of L2 transaction costs, there is no reason why Ethereum should not be widely adopted.
According to Jinse Finance, RWA project Midas has completed a seed round of financing worth $8.75 million, led by BlockTower, Framework, and HV Capital, with participation from institutions such as Coinbase Ventures, Ledger, GSR, Hack VC, Axelar, and FJ Labs.
Hong Kong legislator Wu Jiezhuang revealed that Hong Kong will release stablecoin consultation and sandbox (computer security mechanism), which will allow the industry to innovate digital asset projects in the sandbox environment. Relevant legislation will be reviewed in the Legislative Council at the end of this year or next year, which will help the entire digital asset industry ecosystem. Hong Kong has been improving the digital asset (virtual asset) market on different legal levels. Last year, there were regulations on virtual currency trading platforms and issuance systems.
The Hong Kong Monetary Authority (HKMA) announced on March 7 the launch of Project Ensemble, which focuses on studying the tokenization of private bank deposits using wholesale central bank digital currency (WCBDC). The institution clarified that the project will study the potential benefits to the financial system of tokenizing deposits using WCBDC, including optimizing interbank settlements. Nevertheless, the WCBDC, which is the core of the system, will also be part of the sandbox aimed at testing its application for other purposes, such as settling tokenized real-world assets (RWA).
The Hong Kong Monetary Authority (HKMA) has announced the launch of a new wholesale-level central bank digital currency (wCBDC) project called Ensemble to support the development of Hong Kong's tokenized market. The focus of the Ensemble project is the HKMA's sandbox for wCBDC, which will be launched this year. The sandbox will further study and test tokenization use cases, including the settlement of tokenized real-world assets (such as green bonds, voluntary emission reductions, airplanes, electric vehicle charging stations, electronic bills of lading, and treasury management). It is more likely to develop into new financial market infrastructure, serving as a bridge between tokenized real-world assets and tokenized currencies in transactions.
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