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Bitcoin is globally recognised as the revolutionary "digital gold". It is the world's largest decentralised ledger powered by Proof of Work (PoW) consensus mechanism.

Bitcoin Ecosystem

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<div>
<h2 class="heading-2"><strong>Headline News</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxusatW5zhK6S8hWKt0f8KQk1f" data-list="bullet">
<div>- Bitcoin price decreased by 2.82% last week, sentiment remained calm before the Fed decision and Treasury refunding. Hong Kong spot BTC and ETH ETFs are expected to launch on April 30th with an in-kind creation model, allowing investors to create new ETF shares by using BTC and ETH. Some are optimistic as this approach could increase AUM quickly and portray a successful launch. Some are skeptical about the impact as these ETFs will not open up the market for mainland Chinese investors.</div>
</li>
<li class="ace-line ace-line old-record-id-KmpWd2X3qoe37AxKOWquX8Pxs1f" data-list="bullet">
<div>- The US Depository Trust and Clearing Corporation (DTCC) announced Bitcoin and other cryptocurrencies as underlying assets will not be assigned any collateral value for inter-entity settlement within the line of credit system. Collateral in brokerage activities are not impacted and depending on individual brokers' risk tolerance.</div>
</li>
</ul>
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</div>
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<div class="ace-line ace-line old-record-id-doxusvADjytpDnorvI0u2jAxeGh">
<h2 class="heading-2"><strong>Macro-Outlook</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxusD0LFHL4OAFlaF7QK0DceUe" data-list="bullet">- The US advance estimate GDP in Q1 increased by 1.6%, below forecasts of 2.5%, mainly due to a fall in goods consumption and net export. The year-over-year PCE price index in March increased to 2.7%, higher compared to forecasts of 2.6%.</li>
<li class="ace-line ace-line old-record-id-GuHSd1YAYoe3zPxKHmruAYZtsyd" data-list="bullet">
<div>- The market expects lower Treasury issuance and steady $750 billion or lower TGA target could benefit riskier assets. The Fed rate is expected to remain unchanged in the FOMC meeting this week and expects any discussion made on balance sheet tapering.</div>
</li>
<li class="ace-line ace-line old-record-id-B9OFdlTsToKteAxYlT4usS5FsHf" data-list="bullet">
<div>- Earning reports from Amazon, AMD, Apple, Coinbase and more are expected to be released this week.</div>
</li>
</ul>
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</div>
</div>
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<div>
<div><strong>Upcoming Economic Calendar including,</strong></div>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxusVjk8VxBvx3RawPWD78fan2" data-list="bullet">
<div>- Tuesday, April 30th 3:00am: US Treasury Refunding Financing Estimates</div>
</li>
<li class="ace-line ace-line old-record-id-NyvJdjZ1SoQPlqx9534uHa2Lsmh" data-list="bullet">
<div>- Wednesday, May 1st 8:30pm: US Treasury Refunding Announcement</div>
</li>
<li class="ace-line ace-line old-record-id-OZfXdWZtrozfgFxSg1BuNUqIsPe" data-list="bullet">
<div>- Wednesday, May 1st 10:00pm: US ISM Manufacturing PMI in April</div>
</li>
<li class="ace-line ace-line old-record-id-OAfXdZmeLoZ6mTxEs7euKk2Nsje" data-list="bullet">
<div>- Thursday, May 2nd 2:00am: US FOMC meeting</div>
</li>
<li class="ace-line ace-line old-record-id-UUEkdxhFgocCd5xuFK7ur9N4szd" data-list="bullet">
<div>- Friday, May 3rd 8:30pm: US Non-Farm Payrolls and Unemployment Rate in April</div>
</li>
<li class="ace-line ace-line old-record-id-X5U2daNBmoXX5DxWlQsuXD2aspg" data-list="bullet">
<div>- Friday, May 3rd 10:00pm: US ISM Services PMI in April</div>
</li>
</ul>
</div>
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<div>
<h2 class="heading-2"><strong>Weekly-Cryptos-Overview</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-D3cOdv7UhoPc3kxHO6buaSAwsMd" data-list="bullet">
<div>- Ethereum daily median gas fees hit a 3-year low of 6.43 gwei on April 27th.</div>
</li>
<li class="ace-line ace-line old-record-id-doxusCI1bjOIqDqxE90w1Gc9giv" data-list="bullet">
<div>- Franklin Templeton's spot ETH ETF is listed on DTCC with the ticker of EZET. The listing doesn't guarantee SEC approval and it is just part of the application process. Bloomberg ETF analyst Eric Balchunas estimated the chances of SEC approving a spot ETH ETF in May at around 35%.</div>
</li>
<li class="ace-line ace-line old-record-id-O5VxdzvU5oo9JmxxnjTucc2msbh" data-list="bullet">
<div>- Franklink Templeton has enabled peer-to-peer transfers for its tokenised money market fund shares, BENJI, on Polygon and Stellar networks.</div>
</li>
<li class="ace-line ace-line old-record-id-doxusOHzQVPLqbkV2nIOR6Xbric" data-list="bullet">
<div>- Renzo announced its token allocation distribution and the launch of its token REZ on April 30th.</div>
</li>
<li class="ace-line ace-line old-record-id-UKepdLhm7oCWPfxO7WSuVhO9sne" data-list="bullet">
<div>- Dodo has launched its Layer 3 testnet, which is powered by Arbitrum Orbit, EigenDA and AltLayer.</div>
</li>
<li class="ace-line ace-line old-record-id-JVQFdRZj8oywcRxqaeEutdvdscq" data-list="bullet">
<div>- Movement Labs, a modular protocol which brings MoveVM to Layer 2, raised a $38 million funding round led by Polychain Capital.</div>
</li>
<li class="ace-line ace-line old-record-id-XJeBd8zGuoGneOxgWJGuRtwVsxb" data-list="bullet">
<div>- Metis launched its Phase 2 decentralised sequencer, which allows sequencer mining by staking METIS through LST providers, Artemis Finance and Enki Protocol.</div>
</li>
<li class="ace-line ace-line old-record-id-H2G7dR0AkoOr7vxsrHZuWWqYsef" data-list="bullet">
<div>- Ankr's AI-focus Layer 1, Neura, is live on public testnet.</div>
</li>
<li class="ace-line ace-line old-record-id-INjgdODGHojrjvxzxMYu1WZhs0f" data-list="bullet">
<div>- Shiba Inu has raised $12 million with its ecosystem token TREAT for developing a new privacy-focus Layer 3 blockchain.</div>
</li>
<li class="ace-line ace-line old-record-id-RVTBdtlz8oCRX0xLhPluCwDSsce" data-list="bullet">
<div>- Gnosis Safe has listed in major exchanges such as OKX and Coinbase with approximately $2 billion fully diluted valuation. It also introduced incentive program, Safe{Pass}, to reward users for locking SAFE and transact using Safe smart account.</div>
</li>
<li class="ace-line ace-line old-record-id-XpUjdnmm4oxXJJx4hp7u4CrUsye" data-list="bullet">
<div>- Immutable launched the largest web3 gaming rewards program, The Main Quest, with up to $50 million for all players in games such as Illuvium, Pixelmon, Guild of Guardian and more.</div>
</li>
<li class="ace-line ace-line old-record-id-Ja6VdLG3do8dDwx07Wpu3Hc4sye" data-list="bullet">
<div>- Treasure announced the launch of Ruby Testnet with a new incentive point system and partnership with EigenDA to provide MAGIC-ETH dual staking as the network security model.</div>
</li>
<li class="ace-line ace-line old-record-id-EuVodGxT3oagwhxcGxrux9GCskf" data-list="bullet">
<div>- Worldcoin announced that it will be selling up to 1.5 million WLD to select trading firms outside of the US every week for the next 6 months, accounting for approximately 19% of the current circulating supply.</div>
</li>
</ul>
</div>
</div>
</div>
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<div>
<h2 class="heading-2"><strong>Upcoming Alpha: Token Unlock, Governance</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-PGQGddF25otPFFxewOJuGK6MsPb" data-list="bullet">
<div>- Stargate has passed its V2 proposal with lower fees, optimal liquidity and introduction of wrapped assets.</div>
</li>
<li class="ace-line ace-line old-record-id-G4JTdBSM0oP9EDxZcb1uZMHFsqc" data-list="bullet">
<div>- Jupiter teased that mobile apps beta will be released in May.</div>
</li>
<li class="ace-line ace-line old-record-id-QJledPC3JoNrQex1FR7ufFnustM" data-list="bullet">
<div>- Io.net and Aethir announced a partnership to merge over 640,000 computing units. Io.net is expected to launch its token soon.</div>
</li>
<li class="ace-line ace-line old-record-id-PKD8dzZjfoYqpbxKF8Zua7Dasqd" data-list="bullet">
<div>- Origin Protocol proposed new tokenomics to include revenue sharing from OETH and OUSD.</div>
</li>
<li class="ace-line ace-line old-record-id-E11Rd5S1fockJ5x8vSjui2EEsEd" data-list="bullet">
<div>- DYDX token unlocked on May 1st, amount representing 10.72% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-YKqmdr8uAoeK72xpUl3uEfzHsKe" data-list="bullet">
<div>- ZETA token unlocked on May 1st, amount representing 2.24% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-YpeZdjx3ToiOaZxFJfguhSXUsBg" data-list="bullet">
<div>- ENA token unlocked on May 1st, amount representing 3.76% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-JmwsdupQ2oRpLbxkHg3uCzzVsdM" data-list="bullet">
<div>- SUI token unlocked on May 3rd, amount representing 8.05% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-VoPxdmxsXoqxYlxv6qwuIPbqs5f" data-list="bullet">
<div>- MEME token unlocked on May 3rd, amount representing 32.37% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-EVuPdqJtpo9gx0xjl2FuOiyEsvc" data-list="bullet">
<div>- GAL token unlocked on May 5th, amount representing 5.76% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-OIBtdhnQcoeb44xL2VqutxOWsQg" data-list="bullet">
<div>- Heroes of Mavia announced to reduce token unlocks by over 80% until February 2025. The upcoming token unlocked on May 6th reduced from 25.53% to 5.11% of the token supply.</div>
</li>
</ul>
</div>
</div>
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<div class="ace-line ace-line old-record-id-doxus6630ysfaIzp6lzFXmnUNwd"><strong>Disclaimer</strong></div>
<div class="ace-line ace-line old-record-id-doxus7wwX2M3xSZbViyKIJSAgWc"><em>This report (the "</em><em><strong>Report</strong></em><em>") provides general background information about ChainUp Investments Limited (the "</em><em><strong>Company</strong></em><em>"). The information presented in this Report may not be complete and is only a summary. The Company is an authorized investment manager entity registered in the British Virgin Islands. Disclaimer: This Report does not contain complete information or advice that an investor or potential investor may need to make an investment decision. This Report should not be regarded as an opinion or recommendation to hold, buy or sell any units, securities or other financial instruments of Smart Beta. The Report has been prepared without taking into account the specific objectives, financial situation or needs of any investor. By reading this Report, you agree that it is for reference purposes only and that its contents should not be relied upon in connection with any offer or solicitation to purchase or subscribe for, underwrite or dispose of units in Smart Beta. Every investment involves risks, particularly with respect to fluctuations in value and returns. You agree and understand that trading investments (including, without limitation, digital currency related funds, securities or financial instruments and Smart Beta Units) may involve substantial risks and that your capital may appreciate or depreciate in value. You should only invest what you can afford to lose and you should ensure that you fully understand your responsibilities in making investment decisions. Before trading, please ensure that you seek independent financial or legal advice, do your own research or obtain appropriate advice if necessary.</em></div>
<div class="ace-line ace-line old-record-id-doxusYLA5SUdazSiOSSqlXI2gqT"><em>This Report is the property of the Company and may not be modified, reproduced, distributed, reprinted, copied, published, licensed or imitated in any way or by any means whatsoever without the prior written consent of the Company. If you have received this Report in error, please return it immediately. This Report may be restricted by law and is also restricted from distribution to or use by any person in any jurisdiction or where such distribution or use would be considered a violation of local laws or regulations. The forecast analyses in this Report, which involve known and unknown risks, uncertainties and other important factors that could cause actual results, performance or achievements to differ materially from future results, performance or achievements expressed or implied by such analyses. These analyses may include "believes," "expects," "anticipates," "intends," "plans," "estimates," "forecasts," "will," "could," "targets" and similar expressions, as well as analyses other than the analyses of historical facts, including but not limited to, analyses regarding the financial conditions of such company's management, its business strategies, plans, objectives and goals for its future operations, including its growth plans and targets. These forecast analyses involve known and unknown risks, uncertainties and other important factors that may affect the company's ability to implement and achieve economic and monetary policies, budgetary plans, financial guidelines and other development benchmarks presented in these forecast analyses and could cause actual results, performance or achievements to differ materially from future results work or performance expressed or implied by these forecast analyses.</em></div>
<div class="ace-line ace-line old-record-id-doxusBEYS7WNqUZJ2q1jUL8jNSf"><em>The Company does not expressly or impliedly warrant the accuracy or completeness of any of the information in the Report, nor does it make any representation or warranty, express or implied, as to its fairness, accuracy or completeness. The Report may include projections, valuations and statistical analyses based on subjective assessments and assumptions as well as historical information and may not accurately predict future performance. Any financial data in the Report is for reference purposes only and should not be used as a basis for entering into any transactions. No representation is made as to the reasonableness of the assumptions in the Report or the accuracy or completeness of any modelling, scenario analysis or back testing. Neither the Company, its advisors, associates or any other person accepts any liability for any direct or indirect loss arising from the use of this Report or its contents. Nothing in this Report excludes any liability for fraudulent misrepresentation. Any investor or prospective investor should consult his or her advisors on legal, tax, regulatory, financial and all related matters relating to the investment or disposal of the Company's securities and their suitability for the investor or prospective investor. The Company reserves the right to modify or replace, in part or in whole, the information contained herein at any time and assumes no obligation to provide the recipients with the modified information or to notify the recipients.</em></div>
<div class="ace-line ace-line old-record-id-doxusfwvteo18F8BZcixF9jOkle"><em>The Company is not licensed by Singapore's Monetary Authority of Singapore ("</em><em><strong>MAS</strong></em><em>") to conduct fund management activities, and thus not subjected to any market conduct and investor protection regulations issued by MAS. Henceforth, all investors are not included under any regulatory investor protection clauses as prescribed by Singapore&rsquo;s MAS under the Securities and Futures Act Chapter 289 of Singapore / Financial Advisers Act, Chapter 110 of Singapore, the related regulations and notices issued thereunder. </em></div>
<div class="ace-line ace-line old-record-id-doxusMFmNedketqdb50YV1kPObe"><em>Note that the Company is committed to not onboard any retail customers in any market or jurisdiction; and in view of this, strict measures on assessment of accredited investors are adopted by the Company. </em></div>
</div>




Headline News



- Bitcoin price decreased by 2.82% last week, sentiment remained calm before the Fed decision and Tr

Weekly Market Insight: May week 1 

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<div>
<h2 class="heading-2"><strong>Headline News</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxusG4crLSMFUvVU2E0sRSbvgb" data-list="bullet">
<div>- Bitcoin completed its fourth halving last Saturday and together with the launch of Runes, miners' revenue reached a record high of $106.7 million on the day, which 75% came from network transaction fees.</div>
</li>
<li class="ace-line ace-line old-record-id-FcPUdMWSPotJqVxOzWcu8sk7s77" data-list="bullet">
<div>- Despite the geopolitical tension in the Middle East continuing to remain escalated, retail sentiment towards Bitcoin gradually returning to normal, evidenced by the positive inflow of Bitcoin ETFs on Friday after 5 continuous days of net outflow.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusjA2suv5mbsGXeQXNKUNkGd">&nbsp;</div>
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<div>
<h2 class="heading-2"><strong>Macro-Outlook</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-RIADd48qNoWxCyxE9TTuzYetsig" data-list="bullet">
<div>- The S&amp;P500 dipped by 3.05% last week, dropping the most in a week since March 2023. The subdued momentum may be attributed to a confluence of factors, including heightened geopolitical tensions in the Middle East, prolonged forecasts of elevated interest rates, underwhelming guidance pertaining to banks' interest income, and semiconductor sales falling short of expectations.</div>
</li>
<li class="ace-line ace-line old-record-id-doxus3E54kF9fktljEz0ZJoBPKc" data-list="bullet">
<div>- The next FOMC meeting is in less than 10 days. The market estimates 98% probability rate remains unchanged, while more discussion on slowing pace of balance sheet run-off is expected in May FOMC.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxus6L51HQJBjmtBaFU7iauWJg">&nbsp;</div>
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<div>
<div><strong>Upcoming Economic Calendar including,</strong></div>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxusiJBP0Df4cttP4O0ZZAFiYd" data-list="bullet">
<div>- Thursday, April 25th 8:30pm: US Q1 Advance Estimate GDP</div>
</li>
<li class="ace-line ace-line old-record-id-CQ7fdIXvqou6dKxTXoru2xkfsah" data-list="bullet">
<div>- Friday, April 26th 8:30pm: US Core PCE Price Index, Personal Income and Spending in March</div>
</li>
</ul>
<div class="ace-line ace-line old-record-id-Ajg8d0A9soU73bxsq5zuNEc1sFr">&nbsp;</div>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusmyxk7mFUonioDyxLemjyBc">
<div>
<h2 class="heading-2">Weekly-<strong>Cryptos-Overview</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxusnyMf8ArSLQRDXrYFz8Xqvc" data-list="bullet">
<div>- Avail announced 600M AVAIL airdrop to developers, testnet contributors, rollup users, MATIC stakers and community contributors.</div>
</li>
<li class="ace-line ace-line old-record-id-BbQkdWH15o3bUDx7p1MuZVTrsOg" data-list="bullet">
<div>- Union announced to integrate Polygon's AggLayer into Cosmos IBC.</div>
</li>
<li class="ace-line ace-line old-record-id-Vjc6dbnpho3TZ3xyMpJuub5Vs3d" data-list="bullet">
<div>- Picasso Network has launched its Solana AVS on its restaking hub, enabling IBC protocols to connect Solana and Cosmos seamlessly.</div>
</li>
<li class="ace-line ace-line old-record-id-VEjedCi2LoLE7oxSHJSu5mYnsQe" data-list="bullet">
<div>- Bouncebit will be the first project to be listed on Binance's new Megadrop launch platform.</div>
</li>
<li class="ace-line ace-line old-record-id-VqJidCBHPoC9Evxs0gGuL3I7soU" data-list="bullet">
<div>- Merlin Chain native token, MERL, is enabled for trading in major centralised exchanges such as OKX, Bybit, Bitget, Gate.io and Kucoin.</div>
</li>
<li class="ace-line ace-line old-record-id-GsljdsZpfogLU7xVpNpuqYXhsDf" data-list="bullet">
<div>- CoreDAO announced non-custodial BTC staking, enables users to earn yield without leaving the Bitcoin Network.</div>
</li>
<li class="ace-line ace-line old-record-id-G5uXdfRy4o7aGKxByfBuKnt3sle" data-list="bullet">
<div>- Sui has partnered with BytePlus to empower the Sui ecosystem, including Gaming and SocialFi.</div>
</li>
<li class="ace-line ace-line old-record-id-KdovdZeqpoNiNVxUtb4ua8tzstc" data-list="bullet">
<div>- Polkadot introduced JAM. The upgrade will combine the strength of Ethereum and Polkadot, enables low cost deployment, high scability and coherency in Polka Virtual Machine (PVM). PVM will support upfront gas deployment and dapps will run based on the pre-deployed gas. It is expected to launch for another 8 to 20 months.</div>
</li>
<li class="ace-line ace-line old-record-id-UGzzdBXBIoVK4gxYpiGu8neDs1d" data-list="bullet">
<div>- Woldcoin announced the release of its World Chain in summer 2024.</div>
</li>
<li class="ace-line ace-line old-record-id-OolBdvfWzo62TUxG3hEuU97isCR" data-list="bullet">
<div>- Ronin has partnered with Ragnarok and expected to be released in Q3 2024.</div>
</li>
<li class="ace-line ace-line old-record-id-doxus9mmbUirJFW7NMyYgJMq8Bb" data-list="bullet">
<div>- Centrifuge raised $15 million in its latest Series A funding and plans to launch on Base.</div>
</li>
<li class="ace-line ace-line old-record-id-WXsfdJXlWojl70xUIZZuGDuIsCf" data-list="bullet">
<div>- Radiant passed its proposal RFP-33, which increases its total supply by 50% to support new chain expansions and Radiant V3 (with new features such as innovation zone for new asset markets, looping, auto-convert mechanisms for protocol fees to dLP and more).</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxus3Pu3hDJ1zzJbuvh6Petyvf">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxusZ3LzGnbreahuLwODxZfWVc">
<div>
<h2 class="heading-2"><strong>Upcoming Alpha: Token Unlock, Governance</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-M5VEdiKFCoq7U0xyhHHuvOAqsgh" data-list="bullet">
<div>- Sophon, a modular L2 powered by zkSync hyperchain, announced potential airdrop to BEAM holders.</div>
</li>
<li class="ace-line ace-line old-record-id-T8XfdqzHEovB7yx4vcwuDD2qs9d" data-list="bullet">
<div>- Friendtech V2 is announced to be launched on 29th April. FRIEND token is expected in V2, potentially reignites community interest in the SocialFi sector.</div>
</li>
<li class="ace-line ace-line old-record-id-N70xdH8N9oZGyvxEh3luAZJ3szx" data-list="bullet">
<div>- MyShell announced it would be deployed using AltLayer. ALT stakers are potentially receiving airdrops from MyShell.</div>
</li>
<li class="ace-line ace-line old-record-id-VI3DdiJeooMAq9xjVh1untiPsab" data-list="bullet">
<div>- INJ 3.0 voting will end on April 23rd and is expected to pass, reducing the future inflation rate from 5% for lower bound and 10% for upper bound to 4% and 7% relatively over 2 years.</div>
</li>
<li class="ace-line ace-line old-record-id-QJS2dBfpmoWOLVxX4dvu1T5ds5b" data-list="bullet">
<div>- Karak announced integration of Pendle eETH PTs to stake on Karak platform to earn Karak XP points.</div>
</li>
<li class="ace-line ace-line old-record-id-UGDqdewNOomgioxya8suqqavsZd" data-list="bullet">
<div>- Stargate V2 is to launch in April.</div>
</li>
<li class="ace-line ace-line old-record-id-QIT1dGktioicOOxx0D7urUVJsQK" data-list="bullet">
<div>- Omni Network, a restaking interoperability layer for rollups, is expected to launch mainnet and staking soon.</div>
</li>
<li class="ace-line ace-line old-record-id-VGsJdy5zCoZSisxC4DrucKC4sCS" data-list="bullet">
<div>- CTSI token unlocked on April 23th, amount representing 2.73% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-TOfEdmHepoObQfxzs1vuKQNCsEh" data-list="bullet">
<div>- YGG token unlocked on April 27th, amount representing 5.33% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-MBBSddlRao4fSexhOruu0egOsNf" data-list="bullet">
<div>- OP token unlocked on April 29th, amount representing 2.31% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-K1sVdxdQToEzI2xajaTuR29LsTg" data-list="bullet">
<div>- PRIME token unlocked on April 30th, amount representing 4.43% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-XPnPdXXxvoLelZxUcikuBTovs1e" data-list="bullet">
<div>- DYDX token unlocked on May 1st, amount representing 10.72% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-BspIdH2sXoQi0fx4oEGu1jTLs1d" data-list="bullet">
<div>- ZETA token unlocked on May 1st, amount representing 2.24% of the token supply.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxus9rJZ7Bpibgzng20R9OwNTc">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxusNA54XgheSaUq3Av2i8WIke">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxusSbYm0dLe0vWTvqbnf7r8Tb"><strong>Disclaimer</strong></div>
<div class="ace-line ace-line old-record-id-GqY5dQaNWokAvMxOR3YukBZfs3U"><em>This report (the "</em><em><strong>Report</strong></em><em>") provides general background information about ChainUp Investments Limited (the "</em><em><strong>Company</strong></em><em>"). The information presented in this Report may not be complete and is only a summary. The Company is an authorized investment manager entity registered in the British Virgin Islands. Disclaimer: This Report does not contain complete information or advice that an investor or potential investor may need to make an investment decision. This Report should not be regarded as an opinion or recommendation to hold, buy or sell any units, securities or other financial instruments of Smart Beta. The Report has been prepared without taking into account the specific objectives, financial situation or needs of any investor. By reading this Report, you agree that it is for reference purposes only and that its contents should not be relied upon in connection with any offer or solicitation to purchase or subscribe for, underwrite or dispose of units in Smart Beta. Every investment involves risks, particularly with respect to fluctuations in value and returns. You agree and understand that trading investments (including, without limitation, digital currency related funds, securities or financial instruments and Smart Beta Units) may involve substantial risks and that your capital may appreciate or depreciate in value. You should only invest what you can afford to lose and you should ensure that you fully understand your responsibilities in making investment decisions. Before trading, please ensure that you seek independent financial or legal advice, do your own research or obtain appropriate advice if necessary.</em></div>
<div class="ace-line ace-line old-record-id-JgtRd0bSqoJtCYxaiGAuPARqs2g"><em>This Report is the property of the Company and may not be modified, reproduced, distributed, reprinted, copied, published, licensed or imitated in any way or by any means whatsoever without the prior written consent of the Company. If you have received this Report in error, please return it immediately. This Report may be restricted by law and is also restricted from distribution to or use by any person in any jurisdiction or where such distribution or use would be considered a violation of local laws or regulations. The forecast analyses in this Report, which involve known and unknown risks, uncertainties and other important factors that could cause actual results, performance or achievements to differ materially from future results, performance or achievements expressed or implied by such analyses. These analyses may include "believes," "expects," "anticipates," "intends," "plans," "estimates," "forecasts," "will," "could," "targets" and similar expressions, as well as analyses other than the analyses of historical facts, including but not limited to, analyses regarding the financial conditions of such company's management, its business strategies, plans, objectives and goals for its future operations, including its growth plans and targets. These forecast analyses involve known and unknown risks, uncertainties and other important factors that may affect the company's ability to implement and achieve economic and monetary policies, budgetary plans, financial guidelines and other development benchmarks presented in these forecast analyses and could cause actual results, performance or achievements to differ materially from future results work or performance expressed or implied by these forecast analyses.</em></div>
<div class="ace-line ace-line old-record-id-G1wtdm9CDor7SZxHkTXuQgj1sth"><em>The Company does not expressly or impliedly warrant the accuracy or completeness of any of the information in the Report, nor does it make any representation or warranty, express or implied, as to its fairness, accuracy or completeness. The Report may include projections, valuations and statistical analyses based on subjective assessments and assumptions as well as historical information and may not accurately predict future performance. Any financial data in the Report is for reference purposes only and should not be used as a basis for entering into any transactions. No representation is made as to the reasonableness of the assumptions in the Report or the accuracy or completeness of any modelling, scenario analysis or back testing. Neither the Company, its advisors, associates or any other person accepts any liability for any direct or indirect loss arising from the use of this Report or its contents. Nothing in this Report excludes any liability for fraudulent misrepresentation. Any investor or prospective investor should consult his or her advisors on legal, tax, regulatory, financial and all related matters relating to the investment or disposal of the Company's securities and their suitability for the investor or prospective investor. The Company reserves the right to modify or replace, in part or in whole, the information contained herein at any time and assumes no obligation to provide the recipients with the modified information or to notify the recipients.</em></div>
<div class="ace-line ace-line old-record-id-C7AMdNJwVo2sdsxhl2fuUIAlss3"><em>We hereby disclose that ChainUp Investments LimitedThe Company is not licensed by Singapore's Monetary Authority of Singapore ("</em><em><strong>MAS</strong></em><em>") to conduct fund management activities, and thus not subjected to and do not comply with any market conduct and investor protection regulations issued by MAS.&nbsp;Henceforth, all investors are not covered included under any regulatory investor protection clauses as prescribed by Singapore&rsquo;s MAS under the Securities and Futures Act Chapter 289 of Singapore / Financial Advisers Act, Chapter 110 of Singapore, the related and their certain regulations and notices issued thereunder.&nbsp;</em></div>
<div class="ace-line ace-line old-record-id-HchLd9SBOoujTgxSbV1u3wsms0d"><em>Note that ChainUp Investment the Company is committed to not onboard any retail customers in any market or jurisdiction due to the sophistication level of our funds; and in view of this, strict measures on assessment of accredited investors are adopted by&nbsp;ChainUp Investment Pte Ltd. Any customers not meeting our minimum standards on accredited investor definitions will be rejected as the Group strictly does not accept any retail investor, regardless individual or corporate.&nbsp;</em></div>
</div>




Headline News



- Bitcoin completed its fourth halving last Saturday and together with the launch of Runes, miners' 

Weekly Market Insight: April week 4 

<div data-page-id="DwuYdqPx4oTn1gxgPiHuSsFbsJt" data-docx-has-block-data="false">
<div class="ace-line ace-line old-record-id-doxustkknMJG7nHPFspL6g59aWG">
<div>
<h2 class="heading-2"><strong>Headline News</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxusJHsFyXowIBBGTvclzfTqfb" data-list="bullet">
<div>- Despite bullish sentiment towards Bitcoin halving events in less than a week, BTC price decreased by 5.2% last week as the result of Iran-Israel conflict escalated. Liquidated approximately $340 million BTC futures positions in a single day, the most since 17th August 2023.</div>
</li>
<li class="ace-line ace-line old-record-id-Cg0HdZrxfoJlYgxa0ZQuHCWgstg" data-list="bullet">
<div>- According to several fund issuers, Hong Kong's Securities and Futures Commission approved Bitcoin and Ethereum spot ETF applications this week.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusQEQE087dGcT1FlQb5DUQ3b">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxusls153Hxs9r1vnfyQ0WXMDk">
<div>
<h2 class="heading-2"><strong>Macro-Outlook</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxusWMibwfoLIW1vkLFhpITKnf" data-list="bullet">
<div>- The US core CPI in March was 3.8%, higher than the estimated 3.7%. The market increased the probability of the rate remaining unchanged in June from 48.5% to 77.6%, aligned with the Fed minutes, showing officials wanted more proof of disinflation. The minutes also indicated the pace of balance sheet runoff will slowdown soon.</div>
</li>
<li class="ace-line ace-line old-record-id-ULFPdSZLmoYJaoxEq7WuVTWSsQe" data-list="bullet">
<div>- The US PPI in March increased by 0.2%, slightly lower than the estimated 0.3%.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusrdBIEUOtH8KgyapfbRzdQd">&nbsp;</div>
<h2 class="heading-2 ace-line old-record-id-doxusKdvq7t4nrqT8RiZITcMoqd"><strong>Cryptos-Outlook</strong></h2>
<div class="ace-line ace-line old-record-id-doxus9gEqejI53ehvHzB4NtmbWg">
<div>
<h3 class="heading-3"><strong>Layer 1 and Layer 2</strong></h3>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxusJ3bkWMeK6kvkuW6NfKOAJd" data-list="bullet">
<div>- EigenLayer launched its mainnet together with its incubated EigenDA. Restakers can now delegate their restaked ETH to the AVS Operator of their choice. The mainnet is at beta stage, which doesn't include functions like payments from AVSs to operators and slashing. Omni Network, an AVS interoperability network that is designed to connect Ethereum rollups to achieve unified operating system, announced to airdrop 13.3% of its token allocation to EigenLayer restakers, demonstrated the potential supplementary return in restaking. Omni Network is part of the Binance Launchpool program.</div>
</li>
<li class="ace-line ace-line old-record-id-UySbdMoypost93xc1HluzwxDsqe" data-list="bullet">
<div>- Karak Network, a restaking layer rivaling EigenLayer, raised $48 million Series A at $1+ billion valuation. The protocol supports restaking assets such as stablecoins or LRT that already have restaked on EigenLayer.</div>
</li>
<li class="ace-line ace-line old-record-id-L2zud45inoMIbbxagBzuo2XHsPb" data-list="bullet">
<div>- Monad, an EVM parallel execution Layer 1, raised a $225 million funding round led by Paradigm.</div>
</li>
<li class="ace-line ace-line old-record-id-UT8kd8EcuoIud9xFw8zuuj21sab" data-list="bullet">
<div>- Swell launched its L2 pre-launch deposits, accepting LST, LRT, STONE and ALT tokens as points eligibility assets.</div>
</li>
<li class="ace-line ace-line old-record-id-P6pCdpMx7oVu4MxSRR7uU61vsfW" data-list="bullet">
<div>- Binance Labs announced undisclosed investment in BounceBit, a Bitcoin restaking protocol.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusPkzujjn1OWEuk2Rd3fjdOh">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxustuL7X974CcmmIJZS9tWsub">
<div>
<h3 class="heading-3"><strong>Dapps</strong></h3>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-JUFuduUXmoul7Kx9ZMIu44iZssg" data-list="bullet">
<div>- Uniswap Labs received Wells notice from the SEC.</div>
</li>
<li class="ace-line ace-line old-record-id-Kji0dvDRaoj4qExz0OpuI1FLswc" data-list="bullet">
<div>- Ethena announced Season 2 staking, 50% reward boost if user locks minimum 50% ENA relative to their USDe farming across any platform. Meanwhile, MakerDAO has passed the proposal to increase Spark MetaMorpho Vault DDM debt ceiling to 1 billion DAI, increasing exposure to Ethena. Its Singularity Roadmap proposal for Frax has been approved, which includes allocating funds up to $250 million to USDeFRAX POL through the Curve AMO.</div>
</li>
<li class="ace-line ace-line old-record-id-doxusMCL4yHdKSh9bZGzrbSYvlb" data-list="bullet">
<div>- Tensor, the second largest NFT trading platform after MagicEden, has launched its TNSR token with 55% allocated to community. Token holders are able to enjoy discounted fees on the protocol.</div>
</li>
<li class="ace-line ace-line old-record-id-GvK3duSPFoQ798xGCtVuBZUfsjM" data-list="bullet">
<div>- ZigZag on-chain orderbook exchange announced that it would discontinue its zkSync Lite due to US regulatory pressure.</div>
</li>
<li class="ace-line ace-line old-record-id-JX1UdwBUAojNT2xrNVNuLgpvsxR" data-list="bullet">
<div>- Cyberconnect partners with Renzo, Puffer and Etherfi, allowing relative LRTs eligible for Cyber Restaking Points.</div>
</li>
<li class="ace-line ace-line old-record-id-Yv2RdEJXqoJiT0xLKqYuksocsod" data-list="bullet">
<div>- DYDX chain halted production for 9 hours 32 minutes due to the wrong version of the Cosmos IAVL library fix.</div>
</li>
<li class="ace-line ace-line old-record-id-VPXEdhCb4ogWaJxNbX3uaTb9sbh" data-list="bullet">
<div>- 1Inch announced a crypto debit card partnership with MasterCard and Baanx.</div>
</li>
<li class="ace-line ace-line old-record-id-FfkldnHOCo7NmfxmYD2uwP8usof" data-list="bullet">
<div>- Illuvium announced a strategic partnership with Samsung.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxus8fzwSvwsaQ3p9dG3biCQDh">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxusUZCPlnlfKkCjpcwHu8UqIg">
<div>
<h2 class="heading-2"><strong>Upcoming Alpha: Token Unlock, Governance</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-HcpSdkoaoouLQVx1MPguGvpAsCf" data-list="bullet">
<div>- Stacks Nakamoto upgrade is expected to rollout from April 15th to 29th.</div>
</li>
<li class="ace-line ace-line old-record-id-CyEYdnitno0zO4x9eWbuT37Fspc" data-list="bullet">
<div>- Aerodrome announced the integration of Slipstream, its in-house concentrated liquidity pools, for more user-friendly tick-spacing, zero offchain accounting, faster oracle updates and custom fee algorithms. Slipstream is expected to be launched on April 22nd.</div>
</li>
<li class="ace-line ace-line old-record-id-CaNNdVCxto6UZcxR3XBuYQN5sRg" data-list="bullet">
<div>- Treasure is expected to release its Treasure Ruby Testnet on April 22nd.</div>
</li>
<li class="ace-line ace-line old-record-id-KsVWdLDFfoHvERxs60Wug6mfsDb" data-list="bullet">
<div>- ARB token unlocked on April 16th, amount representing 3.49% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-L7ASdWevRopDf7xAE26uqmEVsle" data-list="bullet">
<div>- APE token unlocked on April 17th, amount representing 2.48% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-AG1CdZRppoKHNSxDb5yuKc1dshg" data-list="bullet">
<div>- AXS token unlocked on April 17th, amount representing 7.59% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-H8tqdjpWjoGqURxz4DbuZCuyszb" data-list="bullet">
<div>- MANTA token unlocked on April 18th, amount representing 8.67% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-GZ8hdC80RolceGxCGrMull6dsge" data-list="bullet">
<div>- IMX token unlocked on April 19th, amount representing 2.4% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-WiSZduwVuo6I6zxWxNpu5bm0sKg" data-list="bullet">
<div>- PIXEL token unlocked on April 19th, amount representing 7.05% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-G1QXdcwadoZzfpx0SK4uTcRtsTg" data-list="bullet">
<div>- CTSI token unlocked on April 23th, amount representing 2.73% of the token supply.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxush1Wg5hdeidtgYPdUkh28hj">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxusleNht8OUeeVBhZiGIdtyWh">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxusHRcZG78GtXGZzCLuwLTvte"><strong>Disclaimer</strong></div>
<div class="ace-line ace-line old-record-id-doxusyZAwCzmbLu5UZ4iJO3wjng"><em>The content prepared by ChainUp Investment Limited (the &ldquo;Company&rdquo;) is not and shall not be construed as an investment advice and does not constitute any offer or solicitation to offer or recommendation of any investment product, including but not limited to the funds or investment products that may be offered by the Company. It is for general purposes only and does not take into account your particular objectives, financial situation, or needs. Investment involves risk and you should be aware that the value of digital assets/tokens may fluctuate greatly if such investment involves digital assets/ token. You should invest only if you are prepared to accept the risk of losing all of the money you put into such investment.The content of this email is confidential and proprietary to the Company, and no part of it or its subject matter may be reproduced, redistributed, passed on, or divulged to any other person or published in whole or in part for any purpose without the Company's prior written consent. If received in error, please inform the Company immediately. The content of the email may be restricted by law and not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to local law or regulation. The Company shall have no liability for any misuse or unauthorised distribution of the content of this email. The content of the email may contain forward looking statements that involve known and unknown risks, uncertainties, and other important factors that may cause actual results, performance, or achievements to be materially different from future results, performance, or achievements expressed or implied by such statements. Past performance is not indicative of future performance.The Company does not guarantee the accuracy or completeness of any information in the email and makes no representation or warranty, express or implied, as to its fairness, accuracy, or completeness. None of the Company, its advisers, connected persons, or any other person accepts any liability whatsoever for any direct or consequential loss arising from the use of the presentation or its contents. Nothing in this email excludes any liability for fraudulent misrepresentation. Any investor or prospective investor should consult its own counsel and advisers as to all legal, tax, regulatory, financial, and related matters concerning an investment and as to their suitability for the investor or prospective investor.The content of this email has not been reviewed by the Monetary Authority of Cayman Islands or Singapore. If there is any inconsistency between the English and Chinese versions of this disclaimer, the English version shall prevail.</em></div>
</div>




Headline News



- Despite bullish sentiment towards Bitcoin halving events in less than a week, BTC price decreased 

Weekly Market Insight: April Week 3

<div data-page-id="Evuidh6Ckozzfgx838cuvCaisbc" data-docx-has-block-data="false">
<div class="ace-line ace-line old-record-id-doxusOmGU2gjqJ6pL9cp0BxRd9e">
<div>
<h2 class="heading-2"><strong>Headline News</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxusRnA29BGaVGPDqN1eJI7lUg" data-list="bullet">
<div>- Bitcoin decreased by approximately 2.75% last week with weak momentum of BTC ETFs netflow on Monday and Tuesday, but improved quickly from Wednesday onwards and ended the week with $484.5 million net inflow. BTC price decreased by 6.05% last Tuesday, but had only approximately $108 million long position been liquidated, which is relatively low compared to March 5th and 16th.</div>
</li>
<li class="ace-line ace-line old-record-id-YTALdc68oocrRpx2ououNcC6sRb" data-list="bullet">
<div>- BlackRock added Citadel, Goldman Sachs, UBS and Citigroup as the authorized participants (APs) for its spot Bitcoin ETF, further increasing its liquidity and accessibility. Other Wall Street banks were reported extending offers to Bitcoin mining company Hut 8 in acquiring some of its Bitcoin.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusbkMd4TLAzCRPt0TKGvSbcf">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxush8G3g2tZG6F4lFvWaWtNVe">
<div>
<h2 class="heading-2"><strong>Macro-Outlook</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxusWY3IVhn0wyvB24tvhjElpi" data-list="bullet">
<div>- Jerome Powell once again emphasised more evidence needed for sustainable disinflation before cutting the rate. Last Friday, non-farm payrolls increased 303K in March, the most in 10 months, compared to estimated 200K. The majority of the employment gains came from healthcare and government sectors. The unemployment rate in March was 3.8%, lower than the market estimation of 3.9%. Pessimistic on sustainable disinflation path decreased the chances of rate cuts in June from 60.4% to 53.2% and increased the US 10-year Treasury yield by 19.8bps last week.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusjVtDaPNNXY72MA2JEA9B2c">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxusKPQMGVVIqRu4pV6xsCEStc">
<div>
<div><strong>Upcoming Economic Calendar including,</strong></div>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxusBY4xGhq8QfuUqdUZ6GxOjd" data-list="bullet">
<div>- Wednesday, April 10th 8:30pm: US Inflation Rate in March</div>
</li>
<li class="ace-line ace-line old-record-id-Q4MndHV2Zo1emSxz2FtuYyfnsdb" data-list="bullet">
<div>- Thursday, April 11th 2am: FOMC Minutes</div>
</li>
<li class="ace-line ace-line old-record-id-YWNbdomoaoVn2HxUFX4uyrqAsth" data-list="bullet">
<div>- Thursday, April 11th 8:30pm: US PPI in March</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusVIP00DZhkKq47KQVpExXqe">&nbsp;</div>
<h2 class="heading-2 ace-line old-record-id-doxusejXv5FSfSHlnb3sjzgUFqe"><strong>Cryptos-Outlook</strong></h2>
<div class="ace-line ace-line old-record-id-doxuspFbSmRD2micffJOISOnAJf">
<div>
<h3 class="heading-3"><strong>Layer 1 and Layer 2</strong></h3>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-LSfgdNlesoZ6Btx4NKLu8i5QsAe" data-list="bullet">
<div>- CoreDAO has launched Core Ignition, an incentivised program to reward early adopters and bootstrap its Defi ecosystem.</div>
</li>
<li class="ace-line ace-line old-record-id-E4uxd3jM9o71ThxVZz0uJ9gIspb" data-list="bullet">
<div>- Ripple introduced its own USD stablecoin, 100% backed by US dollar deposits, short-term U.S. government Treasuries and other cash equivalents.</div>
</li>
<li class="ace-line ace-line old-record-id-LcU7dEaa3oF95bxt3OMuriL2sJe" data-list="bullet">
<div>- The China government launched the "Ultra-Large Scale Blockchain Infrastructure Platform for the Belt and Road Initiative" public blockchain project with Conflux as part of the participating partners.</div>
</li>
<li class="ace-line ace-line old-record-id-doxusCzOiDQGs21FCgkbq5YyqPh" data-list="bullet">
<div>- Kadena introduced Kadena Cabinet (CAB), empowers stakers' ability to impact strategic decisions and earning yield.</div>
</li>
<li class="ace-line ace-line old-record-id-DHKxdJfJmoejIPx0Aq6ue1S8sdc" data-list="bullet">
<div>- Memeland announced to launch Memenet, a blockchain with MEME as its native gas token and native yield for ETH and stablecoins (similar to Blast) in June for testnet and September for mainnet.</div>
</li>
<li class="ace-line ace-line old-record-id-PY7zdDGItoE5FXxQdgHuKgn5sCh" data-list="bullet">
<div>- Orion Protocol, a DEX protocol, announced the transition to Lumia, a restaking rollup focusing on liquidity fragmentation, zkML optimised yield, RWA and more.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxus82TGhc1wvBqe747Qd8k31g">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxuspXogXQQNU19W5PXqRobVhb">
<div>
<h3 class="heading-3"><strong>Dapps</strong></h3>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxuseoIYomngmwJ6t3Bvbt2gcc" data-list="bullet">
<div>- Ethena had launched its ENA token and crossed over $2 billion USDe issuance. It also announced accepting BTC as the second collateral asset.</div>
</li>
<li class="ace-line ace-line old-record-id-AkLCdTissoeaewx9zoducy12sCf" data-list="bullet">
<div>- Wormhole, a cross-chains protocol which has transferred over $40 billion worth of assets across chains, has launched its W token.</div>
</li>
<li class="ace-line ace-line old-record-id-OXuCd72H8o34AexC1PjuzPhIshh" data-list="bullet">
<div>- UniswapX is live. Swaps via UniswapX enjoy aggregated liquidity, save on network costs and are protected from MEV attacks.</div>
</li>
<li class="ace-line ace-line old-record-id-OrWDdWLI9oag7rxHrpduNQUusFe" data-list="bullet">
<div>- Threshold announced the launch of thUSD, overcollateralisation stablecoin backed by BTC and ETH.</div>
</li>
<li class="ace-line ace-line old-record-id-EYV3dmilOokEMfx1YMAuRENNsDd" data-list="bullet">
<div>- Velodrome announced to launch on Build on Bitcoin (BOB), a Bitcoin rollup.</div>
</li>
<li class="ace-line ace-line old-record-id-NfyMd9uvaov9fMxFzyXuRjsZs0e" data-list="bullet">
<div>- Farcaster introduced Farcaster Actions, an extension feature for its social platform.</div>
</li>
<li class="ace-line ace-line old-record-id-OtTMdE4cPoitHNxrbWruNzTisFg" data-list="bullet">
<div>- Star Atlas unveiled gameplay footage of the "Surge" game mode, which is set to launch on April 20th.</div>
</li>
<li class="ace-line ace-line old-record-id-IXxndi7Ocor2NrxeJ70uJaRTskg" data-list="bullet">
<div>- Hyperliquid announced to launch an onchain spot trading orderbook.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxus1QYpbI75Je5FjhLjUp2YYg">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxusqyRRcjzrJeOQTf9WEjjh8e">
<div>
<h2 class="heading-2"><strong>Upcoming Alpha: Token Unlock, Governance</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-GNvedVgUzoC0BYxaUeuueI1esDf" data-list="bullet">
<div>- EigenLayer is expected to launch soon.</div>
</li>
<li class="ace-line ace-line old-record-id-X22Kd8qBGosqUgxNL5Yu4caIsP2" data-list="bullet">
<div>- Ether.fi announced the launch of the second Liquid vault with USD market neutral strategy this week.</div>
</li>
<li class="ace-line ace-line old-record-id-EsSGdLSfmoqYZwxdDxUuNrkKsIc" data-list="bullet">
<div>- Doge Day, a pure-honor event, will be celebrated on April 20th.</div>
</li>
<li class="ace-line ace-line old-record-id-UL2NdBKzNoQ9M2xTcaDuO5ZIsbb" data-list="bullet">
<div>- LayerZero is expected to launch soon. Its co-founder also hinted that the launch of Stargate V2 is imminent.</div>
</li>
<li class="ace-line ace-line old-record-id-F5qJdokejo5WsAxLy3WulWgCs1f" data-list="bullet">
<div>- MakerDAO proposed to allocate 600 million DAI into USDe and sUSDe.</div>
</li>
<li class="ace-line ace-line old-record-id-S1mgdMnR6oXxdCxnqsIuBseDsqf" data-list="bullet">
<div>- Origin protocol proposed to merge OGN and OGV, unifying goal and renew product roadmap.</div>
</li>
<li class="ace-line ace-line old-record-id-O45hdCPCiokD4Lx0tqduXWoasOc" data-list="bullet">
<div>- Aave proposed turning on the protocol's "fees switch".</div>
</li>
<li class="ace-line ace-line old-record-id-Sflldvsd5oRgfTxawAYus9fMsUh" data-list="bullet">
<div>- Arbitrum Stylus activation discussion is live on governance forum.</div>
</li>
<li class="ace-line ace-line old-record-id-MFrcdfLKcoYOfex5646uyG7bsIb" data-list="bullet">
<div>- APT token unlocked on April 12th, amount representing 6.23% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-Hgdfd2mjZobUhFxYLY3uTLtbsUc" data-list="bullet">
<div>- CYBER token unlocked on April 15th, amount representing 5.98% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-Udm9dPPQToJ94sx1Kl7uuH4bsxh" data-list="bullet">
<div>- STRK token unlocked on April 15th, amount representing 8.79% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-ANLOdHkgdouDTZxDIK2uFNtbs0g" data-list="bullet">
<div>- ARB token unlocked on April 16th, amount representing 3.49% of the token supply.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusgDiNDe6r6uammIhbaxTiPd">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxuszv8fCdVDG4e74BLlfNJvAc">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxusasowpKtFTFmLdF5H1K1Sae"><strong>Disclaimer</strong></div>
<div class="ace-line ace-line old-record-id-doxusulActVPqLBPB17vzK6Nknc"><em>The content prepared by ChainUp Investment Limited (the &ldquo;Company&rdquo;) is not and shall not be construed as an investment advice and does not constitute any offer or solicitation to offer or recommendation of any investment product, including but not limited to the funds or investment products that may be offered by the Company. It is for general purposes only and does not take into account your particular objectives, financial situation, or needs. Investment involves risk and you should be aware that the value of digital assets/tokens may fluctuate greatly if such investment involves digital assets/ token. You should invest only if you are prepared to accept the risk of losing all of the money you put into such investment.The content of this email is confidential and proprietary to the Company, and no part of it or its subject matter may be reproduced, redistributed, passed on, or divulged to any other person or published in whole or in part for any purpose without the Company's prior written consent. If received in error, please inform the Company immediately. The content of the email may be restricted by law and not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to local law or regulation. The Company shall have no liability for any misuse or unauthorised distribution of the content of this email. The content of the email may contain forward looking statements that involve known and unknown risks, uncertainties, and other important factors that may cause actual results, performance, or achievements to be materially different from future results, performance, or achievements expressed or implied by such statements. Past performance is not indicative of future performance.The Company does not guarantee the accuracy or completeness of any information in the email and makes no representation or warranty, express or implied, as to its fairness, accuracy, or completeness. None of the Company, its advisers, connected persons, or any other person accepts any liability whatsoever for any direct or consequential loss arising from the use of the presentation or its contents. Nothing in this email excludes any liability for fraudulent misrepresentation. Any investor or prospective investor should consult its own counsel and advisers as to all legal, tax, regulatory, financial, and related matters concerning an investment and as to their suitability for the investor or prospective investor.The content of this email has not been reviewed by the Monetary Authority of Cayman Islands or Singapore. If there is any inconsistency between the English and Chinese versions of this disclaimer, the English version shall prevail.</em></div>
</div>




Headline News



- Bitcoin decreased by approximately 2.7% last week with weak momentum of BTC ETFs netflow on Monday

Weekly Market Insight: April Week 2 

<div data-page-id="LLM5dJL2UoIQxzxBizOutThksdh" data-docx-has-block-data="false">
<div class="ace-line ace-line old-record-id-doxuszbcxuOD4VFICpN0WN3lNxd">
<div>
<h2 class="heading-2"><strong>Headline News</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxusX1bagw5n3OCWiyC08vlwpc" data-list="bullet">
<div>- BTC prices regained 6.11% from its lowest level at $66,406 last week and closed at $71,320. Bitcoin ETFs had $845 million net inflow last week, compared to net outflow of $887.6 million the week before. BTC futures annualised funding rate is trading at approximately 75% on March 31st.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusdvZaeKmpSCDHqREPEEkA8e">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxus6CPiIKzwfMohK4kGF0jk7f">
<div>
<h2 class="heading-2"><strong>Macro-Outlook</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxusyExMwWWXLuLA9kXJC8ArNh" data-list="bullet">
<div>- Durable goods orders in February increased by 1.4%, higher than the estimated 1.1%. US final Q4 GDP increased by 3.4%, higher than the estimated 3.2%.</div>
</li>
<li class="ace-line ace-line old-record-id-N7dBd9y9coWSB7xwoMbuiLJJswg" data-list="bullet">
<div>- The US core PCE price index in February increased 0.3%, consistent with market expectation. The market expects 96% probability that the rate will remain unchanged in the upcoming May FOMC meeting.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusg8tqZAzLOxkXLkPI1LXFSf">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxusJqwqp702NPuu1Gvu2jAm0f">
<div>
<div><strong>Upcoming Economic Calendar including,</strong></div>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxussEJ556eV86zU44eNQnHIPd" data-list="bullet">
<div>- Monday, April 1st 10:00pm: US ISM Manufacturing PMI in March</div>
</li>
<li class="ace-line ace-line old-record-id-YYmwdNVJRow8NgxPjEWube9rs0b" data-list="bullet">
<div>- Tuesday, April 3rd 10:00pm: US ISM Service PMI in March</div>
</li>
<li class="ace-line ace-line old-record-id-V9npdu3FooBu5RxN3F4us5a9sxg" data-list="bullet">
<div>- Thursday, April 4th 12:10pm: Jerome Powell Economic Outlook Speech at the Stanford Business, Government, and Society Forum</div>
</li>
<li class="ace-line ace-line old-record-id-I99OdGxhNoDe8Lx1BqpugbHasrf" data-list="bullet">
<div>- Friday, April 5th 8:30pm: US Non Farm Payrolls and Unemployment Rate in March</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxustxdr53xkq3WGrd31gPzceg">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxusfEU1UuTadfXF74xR62ZrWf">
<div>
<h2 class="heading-2"><strong>Cryptos-Outlook</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxusuoqdD2jFSbfdcWsmZ92THh" data-list="bullet">
<div>- The US Justice department charged Kucoin with bank secrecy act and unlicensed money transmission offenses. The exchange experienced approximately $1 billion net outflow a week after the announcement.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusZe8A2Ez809AIeSkxvz6bqB">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxusL4m3AJE08ek0Zs2vOgneog">
<div>
<h3 class="heading-3"><strong>Layer 1 and Layer 2</strong></h3>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-JStfd5b4lovVQKx7J7uuyhwXs0g" data-list="bullet">
<div>- Base increased its gas target from 2.5 mgas/s to 3.75 mgas/s for an observation period then expected to 5 mgas/s this week due to explosive demand on the chain.</div>
</li>
<li class="ace-line ace-line old-record-id-doxusq4qlMpvx1S6go4MLb6o3Ah" data-list="bullet">
<div>- Altlayer's staking module went live and kicked off MACH Alpha as the fast finality layer for modular rollups. The feature will be integrated with EigenLayer's AVS in Phase 3.</div>
</li>
<li class="ace-line ace-line old-record-id-QE5AdOJcFoAGitxK74iuaXvksZd" data-list="bullet">
<div>- Ankr introduced Neura blockchain, which is secured by Babylon's Bitcoin restaking security model, EVM-compatible and provides on-demand GPUs and decentralised storage for AI creation, training and deployment.</div>
</li>
<li class="ace-line ace-line old-record-id-UOvcdE9JeofGxqxoALNuaCV1sLe" data-list="bullet">
<div>- Fantom announced to enter into the shared sequencing market and potential airdrop in the future.</div>
</li>
<li class="ace-line ace-line old-record-id-AJEtdQmfzozE5JxNEDgun1lLsid" data-list="bullet">
<div>- NEAR Protocol announced Chain Signature, a feature secured by EigenLayer and NEAR stakers, which enable transaction signs on any blockchain from NEAR account.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxus9QYoLLr6csqmQHXhh6eqSe">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxus94QZ92eWvcKVJAW7LgzNZb">
<div>
<h3 class="heading-3"><strong>Dapps</strong></h3>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-Sbcyd0EXso8AfVxAU3sufpbrscQ" data-list="bullet">
<div>- Farcaster developer team, Merkle Manufactory, was valued at about $1 billion in the latest funding led by Paradigm.</div>
</li>
<li class="ace-line ace-line old-record-id-LppCdaktWoIzBhx1t5EuZhNasne" data-list="bullet">
<div>- SingularityNET, Fetchai, and Ocean Protocol will merge their tokens into the ASI token.</div>
</li>
<li class="ace-line ace-line old-record-id-K2l2dAaxEostf3x0tjnunilgssc" data-list="bullet">
<div>- Maker DAO deployed sUSDe and USDe markets on Morpho Blue, enables users direct exposure to Ethena.</div>
</li>
<li class="ace-line ace-line old-record-id-MwV9dhdcKo8vNBxCVwXujhwDskg" data-list="bullet">
<div>- PancakeSwap announced the launch of MancakeSwap on Mantle, which 60% of its revenue redirects to PancakeSwap.</div>
</li>
<li class="ace-line ace-line old-record-id-HluZdy96JofnGMxXq09uUpKRstg" data-list="bullet">
<div>- Angle Protocol, EURA stablecoin issuer, introduced USDA with real-yield from Treasury, lending and liquidity.</div>
</li>
<li class="ace-line ace-line old-record-id-G7AudNcFMoK5nixUbQMuzLOmsKg" data-list="bullet">
<div>- The Blast Big Bang award-winning project Munchables suffered approximately $62 million hack. Fortunately, the fund was returned by the hacker as rumors suggested the hacker identity was doxxed or simply he/she realised the probability of bringing the fund to Ethereum was very slim (due to address freeze).</div>
</li>
<li class="ace-line ace-line old-record-id-TOSsdGDrWorzUdxsJ0Puaqguspi" data-list="bullet">
<div>- Prisma Finance was hacked and lost approximately 3,257.7 ETH. The team is actively negotiating with the exploiters and reducing fee distribution by 50% to build reserves for recovery stage.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxushkpdP0KAOQATak4Nkzx39g">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxusmJz9szpXPAhzso1cPoUNSg">
<div>
<h2 class="heading-2"><strong>Upcoming Alpha: Token Unlock, Governance</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-GQqKdApisorrf4xki8SupsXCsvf" data-list="bullet">
<div>- Ethena announced token launch on April 2nd.</div>
</li>
<li class="ace-line ace-line old-record-id-DT8Eds7yMoaTt4x16tpueljhsff" data-list="bullet">
<div>- Cosmos IBC 3rd birthday on April 2nd, potentially something big will be announced.</div>
</li>
<li class="ace-line ace-line old-record-id-T5yjdQHCXoOLPbxRl8cuNEuJsGe" data-list="bullet">
<div>- Wormhole will launch its W token on April 3rd.</div>
</li>
<li class="ace-line ace-line old-record-id-UoyYdMLpdoomB5x0CGLuCWTasqf" data-list="bullet">
<div>- Synthetix has been approved to be launched on Arbitrum, Solana and Sui. It also secured 600,000 OP from Optimism Grants Cycle 19.</div>
</li>
<li class="ace-line ace-line old-record-id-RJt2dyEpXoPJWAx9SHwuuSnEsOg" data-list="bullet">
<div>- Render proposed licensing dataset for 3D asset training and including module for RENDER staking.</div>
</li>
<li class="ace-line ace-line old-record-id-QV8fdR6SCoE24hx2RoKualCXsLb" data-list="bullet">
<div>- Solana ecosystem protocols including Parcl, Drift Protocol and Kamino are expected to have airdrop in April.</div>
</li>
<li class="ace-line ace-line old-record-id-ZK0JdrvTboxYDZxTY5hufntRsgc" data-list="bullet">
<div>- The Sui Basecamp Conference will be held from April 10th to 11th.</div>
</li>
<li class="ace-line ace-line old-record-id-R0EodnWOvok9yXxVqN8u9LzQs4b" data-list="bullet">
<div>- Arbitrum Phrase 3 Foundation Grant Program application will start on April 15th.</div>
</li>
<li class="ace-line ace-line old-record-id-CylIdBTC9o5zKJxZsMdunhrasth" data-list="bullet">
<div>- Stacks Nakamoto upgrade is expected to rollout from April 15th to 29th.</div>
</li>
<li class="ace-line ace-line old-record-id-JyQodMlHEocOZ4xqa8HuoPyLslg" data-list="bullet">
<div>- Bitcoin halving is expected around April 20th evening to 21st.</div>
</li>
<li class="ace-line ace-line old-record-id-PEXbdLLJmoZGvYx7HmLufEkgsEh" data-list="bullet">
<div>- SUI token unlocked on April 3rd, amount representing 2.81% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-DDlGdQeyboZ7PhxcBnYu3CGcsvc" data-list="bullet">
<div>- GAL token unlocked on April 5th, amount representing 3.34% of the token supply.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxuskXKNAQnv2Dkp4WazXYZ7Xe">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxusAt2Z0MnAFnCqjKtGWGIRMb">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxusD9Ry92d3I60txxcOcaox6g"><strong>Disclaimer</strong></div>
<div class="ace-line ace-line old-record-id-doxusg7BVGBdvj9nadim3tVwCsm"><em>The content prepared by ChainUp Investment Limited (the &ldquo;Company&rdquo;) is not and shall not be construed as an investment advice and does not constitute any offer or solicitation to offer or recommendation of any investment product, including but not limited to the funds or investment products that may be offered by the Company. It is for general purposes only and does not take into account your particular objectives, financial situation, or needs. Investment involves risk and you should be aware that the value of digital assets/tokens may fluctuate greatly if such investment involves digital assets/ token. You should invest only if you are prepared to accept the risk of losing all of the money you put into such investment.The content of this email is confidential and proprietary to the Company, and no part of it or its subject matter may be reproduced, redistributed, passed on, or divulged to any other person or published in whole or in part for any purpose without the Company's prior written consent. If received in error, please inform the Company immediately. The content of the email may be restricted by law and not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to local law or regulation. The Company shall have no liability for any misuse or unauthorised distribution of the content of this email. The content of the email may contain forward looking statements that involve known and unknown risks, uncertainties, and other important factors that may cause actual results, performance, or achievements to be materially different from future results, performance, or achievements expressed or implied by such statements. Past performance is not indicative of future performance.The Company does not guarantee the accuracy or completeness of any information in the email and makes no representation or warranty, express or implied, as to its fairness, accuracy, or completeness. None of the Company, its advisers, connected persons, or any other person accepts any liability whatsoever for any direct or consequential loss arising from the use of the presentation or its contents. Nothing in this email excludes any liability for fraudulent misrepresentation. Any investor or prospective investor should consult its own counsel and advisers as to all legal, tax, regulatory, financial, and related matters concerning an investment and as to their suitability for the investor or prospective investor.The content of this email has not been reviewed by the Monetary Authority of Cayman Islands or Singapore. If there is any inconsistency between the English and Chinese versions of this disclaimer, the English version shall prevail.</em></div>
</div>




Headline News



- BTC prices regained 6.11% from its lowest level at $66,406 last week and closed at $71,320. Bitcoi

Weekly Market Insight: April week 1 

<div data-page-id="PlpcdXju7oBVzNxEdg7uDm1WsOh" data-docx-has-block-data="false">
<div class="ace-line ace-line old-record-id-doxusMT0ojNYpeiKJy3MFfEwzce">
<div data-page-id="PlpcdXju7oBVzNxEdg7uDm1WsOh" data-docx-has-block-data="false">
<div class="ace-line ace-line old-record-id-doxusMT0ojNYpeiKJy3MFfEwzce">
<div>
<h2 class="heading-2"><strong>Headline News</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxusfI936xdUzywx47O2E2laTA" data-list="bullet">
<div>- Long positions in Bitcoin futures were liquidated $166 million last Tuesday, set the highest long liquidated amount since FTX collapsed November 2022 according to CryptoQuant. Bitcoin ETFs experienced the largest net outflow of $887.6 million last week.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusT6g7GIsthDUjMgxeIkQIdh">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxusP4BTERkv7sTlhCLE533b96">
<div>
<h2 class="heading-2"><strong>Macro-Outlook</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxusP4gsHfYyU3IAAR6JMQuSuc" data-list="bullet">
<div>- The US Federal Reserve kept the rate unchanged in the FOMC meeting last Thursday. Despite insufficient evidence on sustainable disinflation path from the inflation data in 2024, the projected median federal funds rate by the end of 2024 remained 4.6% unchanged from the previous December projection. Estimation of 3 rate cuts. The market projected 89% chance rate remain unchanged in the upcoming May FOMC and 75% probability of at least 25bps cut in June.</div>
</li>
<li class="ace-line ace-line old-record-id-VaYddMpFHoMwYxxWm0ruC3UMslh" data-list="bullet">
<div>- Last week, Congress passed the $1.2 trillion spending bill for government until October, preventing government shutdown.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusfwDq8Wv4EAV37C1Ttx88Sd">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxusgbNZIwwLX0xzeQsU2czaAb">
<div>
<div><strong>Upcoming Economic Calendar including,</strong></div>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-SajMdoDCWoRTdbxSgjeudHXzswb" data-list="bullet">
<div>- Tuesday, March 26th 8:30pm: US Durable Goods Order in February</div>
</li>
<li class="ace-line ace-line old-record-id-Sc0edyLkLoO5HAxnACiuh2dUsKg" data-list="bullet">
<div>- Thursday, March 28th 8:30pm: US Q4 Final GDP</div>
</li>
<li class="ace-line ace-line old-record-id-SmOXdimjpoNuz9xePCMuhQeQsXg" data-list="bullet">
<div>- Friday, March 29th 8:30pm: US Core PCE Price Index, Personal Income and Spending</div>
</li>
<li class="ace-line ace-line old-record-id-doxushaPh0rdBB1tg4iwrTlMVjQ" data-list="bullet">
<div>- Friday, March 29th 11:30pm: Jerome Powell's speech at Federal Reserve Bank of San Francisco Macroeconomics and Monetary Policy Conference.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusOuYb93cDMg4W4DMXAyPsMe">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxusJQI0pzS2LhBzPdUEf48Fs4">
<div>
<h2 class="heading-2"><strong>Cryptos-Outlook</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-NIzPdjYtMoUiGYx1enRuxSXPsKe" data-list="bullet">
<div>- A Github commit dated February 26th by the Ethereum Foundation removed the statement "The Ethereum Foundation (Stiftung Ethereum) has never been contacted by any agency anywhere in the world in a way which requires that contact not be disclosed..." and followed with a comment "This commit removes a section of the footer as we have received a voluntary enquiry from a state authority that included a requirement for confidentiality." No direct evidence of who the state authority is.</div>
</li>
<li class="ace-line ace-line old-record-id-RQAhdLLk4oRLy2xHXxVuFijss3c" data-list="bullet">
<div>- Blackrock launched its first tokenized fund, BUIDL, on Ethereum. The fund invests in cash, US Treasury bills and repurchase agreements, offers investors a stable value of $1 per token and pays daily accrued dividends directly to investors' wallet each month.</div>
</li>
<li class="ace-line ace-line old-record-id-MRqadP7BdonZsbxkNNZuMgpPsLP" data-list="bullet">
<div>- Kucoin announced the platform has registered with India's Financial Intelligence Unit (FIU).</div>
</li>
<li class="ace-line ace-line old-record-id-F0jGdSQyYoIAlAxsB9puKm8Zsdd" data-list="bullet">
<div>- Vatalik introduced "Rainbow Staking" at ETH Taipei, which was proposed by Barnabe in February 2024, featuring delegators &amp; operators separation and heavy &amp; light service separation. The concept aims to improve decentralisation in staking landscape, integrate further "protocol services" in plug-and-play manner and pave an alternative path towards Single-Slot-Finality (SSF).</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusMOGn8VRamCuZOgWYIJmwph">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxusK4C1dWC1zHzIBuVm86x9Td">
<div>
<h3 class="heading-3"><strong>Layer 1 and Layer 2</strong></h3>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxusZAtfZ0h37scQGxqClqy1F3" data-list="bullet">
<div>- Sui introduced Pilotfish, the first multi-machine smart contract execution engine, which enables Sui network validators to use multiple machines and autoscale to execute more transactions when the load increases.</div>
</li>
<li class="ace-line ace-line old-record-id-Vhc2dRbbzoT9frxhVmhuAZFRs1e" data-list="bullet">
<div>- TON Foundation announced an approximately $115M community rewards program.</div>
</li>
<li class="ace-line ace-line old-record-id-SjiSdIsdJoQFgmxMF88ud71lsSh" data-list="bullet">
<div>- Avalanche partnered with Alipay+ to enable voucher program on its all-in-one ordering solution, D-store.</div>
</li>
<li class="ace-line ace-line old-record-id-Fhtedaw4SoQlwRxW1NhunH8vsHh" data-list="bullet">
<div>- Polygon's zkEVM experienced a 12-hour outage due to issues faced by the sequencers related to Ethereum reorganisation.</div>
</li>
<li class="ace-line ace-line old-record-id-L9TcduMDToQORJxcPYzuUfA3sMv" data-list="bullet">
<div>- Espresso Systems, the shared sequencing protocol, announced they raised $28 million in funding led by a16z.</div>
</li>
<li class="ace-line ace-line old-record-id-Aj2JdqOgcoM2D5xwh9JuEeK7s1f" data-list="bullet">
<div>- Wilder World, AAA-game protocol, announced the building of a gas free rollup, Meowchain, with Polygon and Celestia.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusqmIBkixqAzmjgAkFnM6J1d">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxusFizILcNiANketRfBVZ0c5g">
<div>
<h3 class="heading-3"><strong>Dapps</strong></h3>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxusA7Gvyg7eoYGueAYCvkG9Ng" data-list="bullet">
<div>- Centrifuge launched an onchain credit fund management platform for asset managers and fund operators.</div>
</li>
<li class="ace-line ace-line old-record-id-Yp0pdMLxfo7EUixzu2EuQiEtsab" data-list="bullet">
<div>- AIOZ Network partnered with Alibaba Cloud as its principal blockchain ally for Alibaba Cloud Singapore Innovation Accelerator, focused on Web3 projects.</div>
</li>
<li class="ace-line ace-line old-record-id-YQzHdMtAJoW19sxmT5yuQVmosPd" data-list="bullet">
<div>- Fluence, a cloudless computing platform, has its mainnet launched.</div>
</li>
<li class="ace-line ace-line old-record-id-VRAsdWkvioyAVFxxdk5uKEgWswh" data-list="bullet">
<div>- Jupiter Exchange introduced Value-Average, featuring auto-investing based on the token price action.</div>
</li>
<li class="ace-line ace-line old-record-id-BM4gdZ1rQoyA5fxRaELuhNtBsOb" data-list="bullet">
<div>- OpenSea announced Seaport 1.6, a new generation NFT marketplace protocol in the EVM ecosystem, introducing a new feature called Seaport hooks.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxustEcEJcCSlRXEG4j33B7fhd">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxus4K3jBbxyW4s7bCg6gwB9Ag">
<div>
<h2 class="heading-2"><strong>Upcoming Alpha: Token Unlock, Governance</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-LE11dqWKTopdwuxusZruqatus7d" data-list="bullet">
<div>- Bitcoin halving is expected in less than 4 weeks, April 20th.</div>
</li>
<li class="ace-line ace-line old-record-id-VhVMdvCbxonaeJxNdSDurpS0sPf" data-list="bullet">
<div>- Frax Finance proposed the "Singularity Roadmap", which includes turn on FXS fee switch with 50% revenue redirects to veFXS holders, 50% revenue used to buy FXS and other Frax assets to pair in the FXS Liquidity Engine (FLE).</div>
</li>
<li class="ace-line ace-line old-record-id-C0iHdCohOoctfWxBVQOuxL3Os9b" data-list="bullet">
<div>- OP token unlocked on March 29th, amount representing 2.4% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-Jou1d11ioopIUTx8lKruPFIIsBd" data-list="bullet">
<div>- PRIME token unlocked on March 31st, amount representing 4.65% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-VwNJdTPShoupfJxpIv2uKYYCsKg" data-list="bullet">
<div>- ZETA token unlocked on April 1st, amount representing 2.24% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-Nhynd3B9koynw5xe7FwuX2T7sbS" data-list="bullet">
<div>- DYDX token unlocked on April 1st, amount representing 11.35% of the token supply.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusyZZHsI0WuclBq8UzdzBwse">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxus2ICSnLYxOpyzwoYJCWVAsv">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxusbehI5hTI0XbVy8S96nulMd"><strong>Disclaimer</strong></div>
<div class="ace-line ace-line old-record-id-doxusPRhTieRyvTg2GhgYpxGk2d"><em>The content prepared by ChainUp Investment Limited (the &ldquo;Company&rdquo;) is not and shall not be construed as an investment advice and does not constitute any offer or solicitation to offer or recommendation of any investment product, including but not limited to the funds or investment products that may be offered by the Company. It is for general purposes only and does not take into account your particular objectives, financial situation, or needs. Investment involves risk and you should be aware that the value of digital assets/tokens may fluctuate greatly if such investment involves digital assets/ token. You should invest only if you are prepared to accept the risk of losing all of the money you put into such investment.The content of this email is confidential and proprietary to the Company, and no part of it or its subject matter may be reproduced, redistributed, passed on, or divulged to any other person or published in whole or in part for any purpose without the Company's prior written consent. If received in error, please inform the Company immediately. The content of the email may be restricted by law and not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to local law or regulation. The Company shall have no liability for any misuse or unauthorised distribution of the content of this email. The content of the email may contain forward looking statements that involve known and unknown risks, uncertainties, and other important factors that may cause actual results, performance, or achievements to be materially different from future results, performance, or achievements expressed or implied by such statements. Past performance is not indicative of future performance.The Company does not guarantee the accuracy or completeness of any information in the email and makes no representation or warranty, express or implied, as to its fairness, accuracy, or completeness. None of the Company, its advisers, connected persons, or any other person accepts any liability whatsoever for any direct or consequential loss arising from the use of the presentation or its contents. Nothing in this email excludes any liability for fraudulent misrepresentation. Any investor or prospective investor should consult its own counsel and advisers as to all legal, tax, regulatory, financial, and related matters concerning an investment and as to their suitability for the investor or prospective investor.The content of this email has not been reviewed by the Monetary Authority of Cayman Islands or Singapore. If there is any inconsistency between the English and Chinese versions of this disclaimer, the English version shall prevail.</em></div>
</div>
</div>
</div>




Headline News



Long positions in Bitcoin futures were liquidated $166 million last Tuesday, set the highest long li

Weekly Market Insight: March Week 5 

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<div data-page-id="TmwtdQTVMo9gQQxA4Yeulh3Jsmc" data-docx-has-block-data="false">
<div class="ace-line ace-line old-record-id-doxusfmEw37sjbpKeU2ay1t0M2d">
<div>
<h2 class="heading-2"><strong>Headline News</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-GnwIdX326oPLBqxEeMuuFRO9szc" data-list="bullet">
<div>- Ethereum's second most important upgrade, Dencun, successfully launched last week. Layer 2 gas fee has dropped significantly. Optimism transaction fees, for example, have dropped from median $0.322 to $0.009.</div>
</li>
<li class="ace-line ace-line old-record-id-Fc0NdAAR1oXwhFx6n6wuRuqJsxh" data-list="bullet">
<div>- Despite huge success in the Dencun upgrade, ETH prices decreased by 6.21% last week and BTC prices surged to a new all-time-high of $73,700 level and closed the week with -0.92%. Bitcoin ETFs had another record inflow of $2.57 billion last week and the highest single day inflow of $1.05 billion on March 12th.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusC0IvfeTPMWOAN2Qalm809d">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxusZldoB42Y0jq5einHh2Z7Wf">
<div>
<h2 class="heading-2"><strong>Macro-Outlook</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxusIzFbISNkdUjeJMcopuODXf" data-list="bullet">
<div>- The US core CPI in February increased by 0.4% month-over-month, higher than the market estimation of 0.3%. The US PPI in February also showed a 0.6% increase, significantly higher than the market estimation of 0.3%. Both economic data indicates the stickiness of inflation, significantly increases the probability of the rate remaining unchanged in March to 99% and June from 26% to 41.5%.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusy2JEK4NnIlYeVAmXg5TiXb">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxusmWH4zegpo1Lyhi5Xpa0dxd">
<div>
<div><strong>Upcoming Economic Calendar including,</strong></div>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxusoqaKL4JI7uQFkjq5LV9yeg" data-list="bullet">
<div>- Thursday, March 21st 2:00am: The US FOMC meeting</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusuF76pW9rP9NfCWqw7AGnpf">&nbsp;</div>
<h2 class="heading-2 ace-line old-record-id-doxusla5UQPLAPjKq1s7q7Vfzsd"><strong>Cryptos-Outlook</strong></h2>
<div class="ace-line ace-line old-record-id-doxus6WGHNTyNnCgqPEA3GmtNfg">
<div>
<h3 class="heading-3"><strong>Layer 1 and Layer 2</strong></h3>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxusyh7QKLARujhShXrpr5x23d" data-list="bullet">
<div>- Avalanche<strong> </strong>announced that MapleStory is building an Avalanche Subnet. MapleStory is a MORPG game that has more than 180 million registered users worldwide and generates more than $3 billion in lifetime revenue.</div>
</li>
<li class="ace-line ace-line old-record-id-OMtDdpmBiofD4xxspDduwA1IsTg" data-list="bullet">
<div>- Blast<strong> </strong>suffered around an hour outage after the Dencun Upgrade, due to the node's software's incomplete support of Ethereum's post-Dencun block header shape.</div>
</li>
<li class="ace-line ace-line old-record-id-NMEUdBdm2oECs4xuLOKuhSTZsqd" data-list="bullet">
<div>- BNB Chain announced to provide Rollup-as-a-Service and opBNB Connect initiative to grow its ecosystem.</div>
</li>
<li class="ace-line ace-line old-record-id-LZC4dF8RuolqoGxK2I6uvahIsXc" data-list="bullet">
<div>- Cronos announced the Titan mainnet upgrade on March 26th, increasing network performance and enhancing interoperability with the Cosmos SDK.</div>
</li>
<li class="ace-line ace-line old-record-id-doxusd0mYx99chdxevc5B4CX14d" data-list="bullet">
<div>- Swell Protocol introduced restaking Layer 2, which its rswETH will be used as native gas token.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxus9cgY9uGca8ko5liEDfOC1c">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxusvKyHQapCWZtt8ANNQbHlje">
<div>
<h3 class="heading-3"><strong>Dapps</strong></h3>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-KBCtdE1ySo4AKqxFQMkuWKBgspc" data-list="bullet">
<div>- Ether.fi, a protocol that provides non-custodial native liquid restaking to users' ETH, is listed in Binance.</div>
</li>
<li class="ace-line ace-line old-record-id-QtJcdNE2Jo6BEnxOE3auiF3Osze" data-list="bullet">
<div>- Parallel announced the launch of its new AI-powered game on Solana.</div>
</li>
<li class="ace-line ace-line old-record-id-Gbq6dFcIbo9Zk7xbHXPujTgfs8d" data-list="bullet">
<div>- Vega Protocol introduced the first-ever futures market for 'Points', and its first product is EigenLayer points.</div>
</li>
<li class="ace-line ace-line old-record-id-U4fXdOirFo8K4AxBF1fuPMplsub" data-list="bullet">
<div>- Synthetix launched v3 beta with direct USDC deposits and withdrawals, better pricing, native cross-margin mode and more</div>
</li>
<li class="ace-line ace-line old-record-id-Vl8VdqCt6oEWPlx56DOuXJe4sNe" data-list="bullet">
<div>- PancakeSwap introduced v4, introducing hooks, custom pool types (CLAMM and Liquidity Book), Singleton gas optimization and more. It is expected to launch in Q3 2024.</div>
</li>
<li class="ace-line ace-line old-record-id-ZLkHdZMxmoBcsFxKzoLuS9xRspc" data-list="bullet">
<div>- Curve's Llamalend beta frontend has launched, opening the isolated lending market with soft liquidation mechanism.</div>
</li>
<li class="ace-line ace-line old-record-id-F3GJdAZSto8FmYx7yj7uxpBSsJb" data-list="bullet">
<div>- Apecoin DAO's Ape Accelerator announced to list its first project, Space Nation, on their launchpad.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusbLjbL7VnCxiPG7mGWAb18e">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxustMqlpi0TEVSeAxGO44FqSg">
<div>
<h2 class="heading-2"><strong>Upcoming Alpha: Token Unlock, Governance</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-CBSUdjcj1oiGi1xV6EMuupwRsQf" data-list="bullet">
<div>- The Nvidia GTC AI conference, which potentially drives the Ai-crypto tokens price higher, will be held from March 18th to 21st.</div>
</li>
<li class="ace-line ace-line old-record-id-Ee2zddAZHoAVKNxntScuwA1wsDg" data-list="bullet">
<div>- Arbitrum snapshot voting on 200M ARB allocation for Gaming Proposal will end on March 22nd. Currently 98% of the votes are in favor of the proposal.</div>
</li>
<li class="ace-line ace-line old-record-id-WjOFdkU8aoyohxx25vQu9Yw1sif" data-list="bullet">
<div>- Flux announced FluxEdge Marketplace Alpha will be launched on March 29th.</div>
</li>
<li class="ace-line ace-line old-record-id-I18GdZgXsotPbRxstxhuDixGszd" data-list="bullet">
<div>- IMX token unlocked on March 22nd, amount representing 2.46% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-Z8PUdknqnoNm2uxXf1wucy9KsXg" data-list="bullet">
<div>- ID token unlocked on March 22nd, amount representing 18.23% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-IzNwdWUR5ouBtsxX0cNuxVZesAT" data-list="bullet">
<div>- OP token unlocked on March 29th, amount representing 2.4% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-ErcOdKQMgoAECcxYlKOuxZ4Tsvh" data-list="bullet">
<div>- PRIME token unlocked on March 31st, amount representing 4.65% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-CNDSdRHqKoYueWxiNbBuYdE8sZe" data-list="bullet">
<div>- ZETA token unlocked on April 1st, amount representing 2.24% of the token supply.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusZIBoqP6jiD9qPp3UYyWesS">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxusn5Qr2X9NYlw0eAQWIcO2ge">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxus3hhlZbSr7ZCtwMfJbCoPZc"><strong>Disclaimer</strong></div>
<div class="ace-line ace-line old-record-id-doxusImtRJjaxg0jlwtZz63Mi6g"><em>The content prepared by ChainUp Investment Limited (the &ldquo;Company&rdquo;) is not and shall not be construed as an investment advice and does not constitute any offer or solicitation to offer or recommendation of any investment product, including but not limited to the funds or investment products that may be offered by the Company. It is for general purposes only and does not take into account your particular objectives, financial situation, or needs. Investment involves risk and you should be aware that the value of digital assets/tokens may fluctuate greatly if such investment involves digital assets/ token. You should invest only if you are prepared to accept the risk of losing all of the money you put into such investment.The content of this email is confidential and proprietary to the Company, and no part of it or its subject matter may be reproduced, redistributed, passed on, or divulged to any other person or published in whole or in part for any purpose without the Company's prior written consent. If received in error, please inform the Company immediately. The content of the email may be restricted by law and not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to local law or regulation. The Company shall have no liability for any misuse or unauthorised distribution of the content of this email. The content of the email may contain forward looking statements that involve known and unknown risks, uncertainties, and other important factors that may cause actual results, performance, or achievements to be materially different from future results, performance, or achievements expressed or implied by such statements. Past performance is not indicative of future performance.The Company does not guarantee the accuracy or completeness of any information in the email and makes no representation or warranty, express or implied, as to its fairness, accuracy, or completeness. None of the Company, its advisers, connected persons, or any other person accepts any liability whatsoever for any direct or consequential loss arising from the use of the presentation or its contents. Nothing in this email excludes any liability for fraudulent misrepresentation. Any investor or prospective investor should consult its own counsel and advisers as to all legal, tax, regulatory, financial, and related matters concerning an investment and as to their suitability for the investor or prospective investor.The content of this email has not been reviewed by the Monetary Authority of Cayman Islands or Singapore. If there is any inconsistency between the English and Chinese versions of this disclaimer, the English version shall prevail.</em></div>
</div>
</div>
</div>




Headline News



- Ethereum's second most important upgrade, Dencun, successfully launched last week. Layer 2 gas fee

Weekly Market Insight: March week 4 

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<div class="ace-line ace-line old-record-id-doxusIwufPuvm49hdvVQdBtYRTd">
<div data-page-id="S28Hd000UoS7Nzx8YWDueXSdsbb" data-docx-has-block-data="false">
<div class="ace-line ace-line old-record-id-doxusIwufPuvm49hdvVQdBtYRTd">
<div>
<h2 class="heading-2"><strong>Headline News</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxusisQtP0oxRs2071cn8Lq3Pf" data-list="bullet">
<div>- Bitcoin has hit all-time-highs by crossing above $70,000. The UK's Financial Conduct Authority stated it would not object to requests from recognized investment exchanges to create a UK listed segment for crypto-backed ETNs. The London Stock Exchange stated will accept applications for admission to Bitcoin and Ethereum ETNs from the second quarter of this year.</div>
</li>
<li class="ace-line ace-line old-record-id-P7sgd3mBfoMAaExY84Uug1FMsHf" data-list="bullet">
<div>- Ethereum increased by 11.22% in the past week, compared to Bitcoin 9.29%, due to the highly anticipated Dencun upgrade which is happening this Wednesday, March 13th at around 9:55pm.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxus798dUfy9Z1JPeyhaLOs8Xd">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxus2IXUI1WH12wWTCrTZoXYTY">
<div>
<h2 class="heading-2"><strong>Macro-Outlook</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxus2QXrjwQK6TkQnShEuJaI6d" data-list="bullet">
<div>- February non-farm payroll released last Friday was 275K, higher than the market estimated 200K. The unemployment rate in February was 3.9%, also higher than the market estimation of 3.7%. The average hourly earnings in February increased by 0.1% month-over-month, lower than the estimation of 0.3%. Mix signals between pressure on wage-price spiral and recession risk.</div>
</li>
<li class="ace-line ace-line old-record-id-Cn2udmzSqovgGaxK0K2uk2posce" data-list="bullet">
<div>- Jerome Powell reemphasized his stand on the necessity of further evidence needed before cutting the rate in the congress testimony last week. In the upcoming FOMC meeting on 20th March, the market expects 97% probability the rate will remain unchanged.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusfzq4gExOHRKgemYr2snSQd">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxusPhL5QBuKBGm3rE5XeEggyf">
<div>
<div><strong>Upcoming Economic Calendar including,</strong></div>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxusuXqUVbmPN8FzaeQypr2h9d" data-list="bullet">
<div>- Tuesday, March 12th 8:30pm: US inflation rate in February</div>
</li>
<li class="ace-line ace-line old-record-id-IWxZdmZdZoAiFdxrwl9ukPrssXg" data-list="bullet">
<div>- Thursday, March 14th 8:30pm: US PPI and Retail Sales in February</div>
</li>
</ul>
<div class="ace-line ace-line old-record-id-Zka7dk2VAoMaMRxoYBlur8kCsKc">&nbsp;</div>
</div>
</div>
</div>
<h2 class="heading-2 ace-line old-record-id-doxusMpLhot6892H9FA0RIgqnRe"><strong>Cryptos-Outlook</strong></h2>
<div class="ace-line ace-line old-record-id-doxusPXofNvCma2q5dNE1UU9Q4b">
<div>
<h3 class="heading-3"><strong>Layer 1 and Layer 2</strong></h3>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxusnL9sdfGvWofmucuWlJnnCb" data-list="bullet">
<div>- Gnosis introduced Gnosis 3.0, representing a pivotal shift from infrastructure focus to application focus such as Gnosis Pay and Gnosis Wallet.</div>
</li>
<li class="ace-line ace-line old-record-id-NUW9dxvnboRJBJx8nrTuIIsMsSf" data-list="bullet">
<div>- Conflux Network has announced its assistance in beta-testing AxHKD, a HKD-backed stablecoin.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusLGLef9ede5HDijJinMC8od">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxusmsX8Lwstz5jASJ9oehPHFg">
<div>
<h3 class="heading-3"><strong>Dapps</strong></h3>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-XDixdAsvAo5Nllxe1ZVuIBEes9q" data-list="bullet">
<div>- Injective's inEVM is live and interoperable with Hyperlane and LayerZero.</div>
</li>
<li class="ace-line ace-line old-record-id-V5Uvd7XTOoBRiex7p0FuqwFdsib" data-list="bullet">
<div>- Binance listed AEVO in its launchpool. It also introduced Futures NEXT, which enables users to engage with token listings.</div>
</li>
<li class="ace-line ace-line old-record-id-GEgLdxO9uosZeMxDFFxueyGGsAn" data-list="bullet">
<div>- CyberConnect introduced launching a modular L2 with OP stacks, AltLayer and EigenLayer as its data availability layer. CYBER will be used in dual staking to secure the network.</div>
</li>
<li class="ace-line ace-line old-record-id-Dn7xdPjWXodKUqxD5BJuQaJvsge" data-list="bullet">
<div>- AIT Protocol introduced Einstein-AIT GPU Mining feature, empowers sealess access to its advanced computational resources through user-friendly APIs.</div>
</li>
<li class="ace-line ace-line old-record-id-HQ7td8hRnofeaaxFbVauMwCSsUc" data-list="bullet">
<div>- Theta launched Edge Node on Linux and Edge Cloud for mobile, empowering AI rendering on the move.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusLYh28hpi43IBOVgcvMZa9c">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxusJH7u8FzKrWbTigoRreZ9Ih">
<div>
<h2 class="heading-2"><strong>Upcoming Alpha: Token Unlock, Governance</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxusJqa7msZ0sfRfxrNaY8K7Pf" data-list="bullet">
<div>- MakerDAO increased its DAI Saving Rate to 15%, making demand for DAI even more appealing.</div>
</li>
<li class="ace-line ace-line old-record-id-H7Bsd0NaZoYRNEx19fduUbSXsSh" data-list="bullet">
<div>- Near Protocol, Render and Ankr are participating in the upcoming Nvidia GTC 24 conference from March 18th to 21st.</div>
</li>
<li class="ace-line ace-line old-record-id-EfOvd7vLZoDaDuxXbepu8AqNsxf" data-list="bullet">
<div>- Gains Network v8 is expected to be launched in March, introducing multiple take-profit levels within a single position and more.</div>
</li>
<li class="ace-line ace-line old-record-id-Nnfrd4sz5o6sgsxSFENuXsyystb" data-list="bullet">
<div>- Sei v2 is expected to be launched by June 2024, supporting both Cosmwasm and EVM, optimistic parallelization, optimized storage and faster finality.</div>
</li>
<li class="ace-line ace-line old-record-id-J7WvdGkkqoNGUNxyAB3uJo8ds1e" data-list="bullet">
<div>- APT token unlocked on March 13th, amount representing 6.75% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-Rrwud2Wopo5QkVxn31sudS0rs9d" data-list="bullet">
<div>- CYBER token unlocked on March 15th, amount representing 5.98% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-RK8HdrMu7o3asCxdGlQuLsywsIh" data-list="bullet">
<div>- ARB token unlocked on March 16th, amount representing 87.2% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-UxZKdcXSmo3O2axS2wRu2cyms1d" data-list="bullet">
<div>- APE token unlocked on March 17th, amount representing 2.61% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-M5lWdNM8YonAL3xop2ouqBwzsqb" data-list="bullet">
<div>- MANTA token unlocked on March 18th, amount representing 2.66% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-UeoXdqrjCoVxlxxBj7vuufiIsCf" data-list="bullet">
<div>- PIXEL token unlocked on March 19th, amount representing 7.05% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-PtQtdXpcGoDciLxpeWUuug0wsze" data-list="bullet">
<div>- IMX token unlocked on March 22nd, amount representing 2.46% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-OksMdNfDIoqZlbxnpL7u6ciwsEc" data-list="bullet">
<div>- ID token unlocked on March 22nd, amount representing 18.23% of the token supply.</div>
</li>
</ul>
</div>
</div>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxus9ak2U0pUBN3kuDQjlIvJVg">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxus6cBJFyx0dAzCyaBMndTgDb">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxusDcgLlDsHGou1WNCPWJIaLb"><strong>Disclaimer</strong></div>
<div class="ace-line ace-line old-record-id-doxusDHHSGZA66iaXSaFKmk7lIh"><em>The content prepared by ChainUp Investment Limited (the &ldquo;Company&rdquo;) is not and shall not be construed as an investment advice and does not constitute any offer or solicitation to offer or recommendation of any investment product, including but not limited to the funds or investment products that may be offered by the Company. It is for general purposes only and does not take into account your particular objectives, financial situation, or needs. Investment involves risk and you should be aware that the value of digital assets/tokens may fluctuate greatly if such investment involves digital assets/ token. You should invest only if you are prepared to accept the risk of losing all of the money you put into such investment.The content of this email is confidential and proprietary to the Company, and no part of it or its subject matter may be reproduced, redistributed, passed on, or divulged to any other person or published in whole or in part for any purpose without the Company's prior written consent. If received in error, please inform the Company immediately. The content of the email may be restricted by law and not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to local law or regulation. The Company shall have no liability for any misuse or unauthorised distribution of the content of this email. The content of the email may contain forward looking statements that involve known and unknown risks, uncertainties, and other important factors that may cause actual results, performance, or achievements to be materially different from future results, performance, or achievements expressed or implied by such statements. Past performance is not indicative of future performance.The Company does not guarantee the accuracy or completeness of any information in the email and makes no representation or warranty, express or implied, as to its fairness, accuracy, or completeness. None of the Company, its advisers, connected persons, or any other person accepts any liability whatsoever for any direct or consequential loss arising from the use of the presentation or its contents. Nothing in this email excludes any liability for fraudulent misrepresentation. Any investor or prospective investor should consult its own counsel and advisers as to all legal, tax, regulatory, financial, and related matters concerning an investment and as to their suitability for the investor or prospective investor.The content of this email has not been reviewed by the Monetary Authority of Cayman Islands or Singapore. If there is any inconsistency between the English and Chinese versions of this disclaimer, the English version shall prevail.</em></div>
</div>




Headline News



- Bitcoin has hit all-time-highs by crossing above $70,000. Ethereum increased by 11.22% in the past

Weekly Market Insight: March week 3 

<div data-page-id="Cv13dnl7boDnJdxRAfwuYHE1swt" data-docx-has-block-data="false">
<div class="ace-line ace-line old-record-id-doxusyTbbFOVMSYJmVJVgxLgy2e">
<div>
<h2 class="heading-2"><strong>Headline News</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxusY4kg0KiANCxOy7Lx4GZstb" data-list="bullet">
<div>- BTC price increased by 43.71% in February, the highest gain in a month since October 2021. The market capitalization of Bitcoin witnessed a surge of $225 billion last week, marking the most substantial dollar increase within a week in its history. Meanwhile, BTC spot ETFs experienced a net increase of $1.7 billion in assets under management last week.</div>
</li>
<li class="ace-line ace-line old-record-id-GhVndnczhowBxdxVBykuBgqtsje" data-list="bullet">
<div>- Coinbase's iPhone AppsStore ranking hit #130 on 29th February, the highest since early 2022.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusYw1ydVoid4CwOe2Gbmgbpc">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxusQVqeDkwLw9djeKhJKvtJbh">
<h2 class="heading-2"><strong>Macro-Outlook</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxusACCJCH9wpr0YkNdIoKsTCg" data-list="bullet">
<div>- Last week, US ISM Manufacturing PMI in February fell to 47.8 in February 2024 from 49.1 in the previous month, firmly below market expectations of 49.5.</div>
</li>
<li class="ace-line ace-line old-record-id-ThXNdRlApolzcYxJOkguPfx4sxd" data-list="bullet">- The market's estimation of by June to have at least one rate cut from 58% increased to 76%.</li>
</ul>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusXWZCajCiBrTOUN4wWg32uc">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxusVzbHWdH2toGGu73OClWUVf">
<div>
<div><strong>Upcoming Economic Calendar including,</strong></div>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxusQcQGQghCQWxmNmKRtMPaGg" data-list="bullet">
<div>- Tuesday, March 5th 11:00pm: US February ISM Service PMI</div>
</li>
<li class="ace-line ace-line old-record-id-VxC1dkQhvoXwd8xulefuwP4Vsoe" data-list="bullet">
<div>- Wednesday and Thursday, March 6th and 7th 11:00pm: Federal Reserve Chair Jerome Powell Congressional Testimony</div>
</li>
<li class="ace-line ace-line old-record-id-TFjpdCsWtof4pSxU92CuI69jsed" data-list="bullet">
<div>- Friday, March 8th 9:30pm: US February Non-Farm Payrolls and Unemployment</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusqKBQ1lCz6xO7DppOgkgdeg">&nbsp;</div>
<h2 class="heading-2 ace-line old-record-id-doxusjsm99zbD56DSxq9hmaiVve"><strong>Cryptos-Outlook</strong></h2>
<div class="ace-line ace-line old-record-id-doxusXPEGutyPRts30n9Pj3BCUF">
<div>
<h3 class="heading-3"><strong>Layer 1 and Layer 2</strong></h3>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxusZTOBe0NdBvxnw46pEFcdIc" data-list="bullet">
<div>- Blast has launched its mainnet, TVL has crossed $2.3 billion.</div>
</li>
<li class="ace-line ace-line old-record-id-Wt0VdLHfwoECw7xy03vuh1Gfs1g" data-list="bullet">
<div>- COTI Foundation announced a $100 million Development Fund for Data-Secure Apps.</div>
</li>
<li class="ace-line ace-line old-record-id-SCqddhp9foUZIPxsDzSuJvjTsNf" data-list="bullet">
<div>- Mantle's subsidised mETH Double-Dose Drive program had reached its maximum cap, offering more than 7% staking reward.</div>
</li>
<li class="ace-line ace-line old-record-id-NJ8BdhbFkoSQkRxznkPuqIhasec" data-list="bullet">
<div>- Telegram announced that it would provide advertisement space in 100 new countries, sharing 50% of the revenue with channel owners in Toncoin via the TON blockchain.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusAJ72yZuyuUXKtLOZziqtjf">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxusdCJcz1iaE0C5VzF4NxJaBb">
<div>
<h3 class="heading-3"><strong>Dapps</strong></h3>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-GSrHdbrmIocdLGxmqXOuFCzcsm0" data-list="bullet">
<div>- Arweave launched AO hyper parallel computer, enables developers to run their chosen virtual machine, scheduler, gas payment and security model protocol that communicate via a messaging-passing standard, without requiring consensus on costly computation.</div>
</li>
<li class="ace-line ace-line old-record-id-GfTWdbAthopLa9xGMPlu37Gpsx0" data-list="bullet">
<div>- Ondo Finance introduced Ondo Global Markets, which helps solve the RWA liquidity and initiative by Directive Tokenization.</div>
</li>
<li class="ace-line ace-line old-record-id-doxusUpzWK4WCtQiKpGZ6NoWJ9f" data-list="bullet">
<div>- Radiant Capital announced that the V3 upgrade will be released in Q2 2024.</div>
</li>
<li class="ace-line ace-line old-record-id-DnvHdVGWDowuxDxpDlmuDGohssl" data-list="bullet">
<div>- Unibot launched 'Unibot on Blast', offering 0% trading fees for March.</div>
</li>
<li class="ace-line ace-line old-record-id-QoCndzIJMo8fwmxdrW1uLMcCsbd" data-list="bullet">
<div>- Wormhole introduced Native Token Trasfers (NTT), enables native token transfer across blockchains with no LP fees, slippage or MEV risk and regardless of any token standard.</div>
</li>
<li class="ace-line ace-line old-record-id-L9xxdRkWmoo0Qex0awFuaBRXsvh" data-list="bullet">
<div>- Pendle Finance announced to support Ethena's USDe, offering more than 90% Fixed APY.</div>
</li>
<li class="ace-line ace-line old-record-id-UNaFdD96Ho8Kc4xLq0RuEVbYsWg" data-list="bullet">
<div>- Aerodrome announced that the Base ecosystem fund has acquired an undisclosed amount of AERO.</div>
</li>
<li class="ace-line ace-line old-record-id-NS7idiSpiolaZIxQvl5uxYSYs4e" data-list="bullet">
<div>- Parallel TCG Open Beta Symposium is now live.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusdYA6L8M2acmx8SVnyskMAg">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxusajTAfKS5tWKtIjZyHhS93g">
<div>
<h2 class="heading-2"><strong>Upcoming Alpha: Token Unlock, Governance</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-QYdfdBaF7oxhDixMxHLumkaCslf" data-list="bullet">
<div>- Jupiter's LFG Launchpad voting is scheduled for March 4th and release in late March or early April.</div>
</li>
<li class="ace-line ace-line old-record-id-MGMpdAMO5ocVBNxwLHXuHkf5sre" data-list="bullet">
<div>- Avalanche Durango Upgrade is expected on March 6th.</div>
</li>
<li class="ace-line ace-line old-record-id-Id6tdzwa2oL0DWxqoQDukHqesog" data-list="bullet">
<div>- FXS staker airdrop snapshot will be taken on March 6th.</div>
</li>
<li class="ace-line ace-line old-record-id-Vk08dP8yNofk82xbf8iuUQXVsAE" data-list="bullet">
<div>- Shrapnel's STX1.2 gameplay will be launched on March 7th.</div>
</li>
<li class="ace-line ace-line old-record-id-FLsKd5nnjoj2BDxXxaouzumSsAg" data-list="bullet">
<div>- The Ethereum Dencun upgrade is expected on March 13th.</div>
</li>
<li class="ace-line ace-line old-record-id-QnBLdXtcXo8HrxxkvQzuUNhEsEc" data-list="bullet">
<div>- Bitcoin Cash's halving event is expected on March 24th.</div>
</li>
<li class="ace-line ace-line old-record-id-O61TdseGZouWV6xUyJKupWBxsef" data-list="bullet">
<div>- AEVO token launch is expected in March, RBN is expected to swap 1:1 to AEVO in May. AEVO pre-market is traded at approximately $2 in Whales Market, while RBN is traded approximately $0.77 currently.</div>
</li>
<li class="ace-line ace-line old-record-id-RnPKdXRw6otk9rxpIGdu12aqs4g" data-list="bullet">
<div>- Fantom Sonic 2.0 Mainnet is expected in March or April.</div>
</li>
<li class="ace-line ace-line old-record-id-ToU4dtEPjomtcNx3lgpu300usjg" data-list="bullet">
<div>- Aptos co-founder, Thala hinted at a potential major RWA announcement in April.</div>
</li>
<li class="ace-line ace-line old-record-id-AmIpdiw6aoI6d6xwF4Du7t9wswd" data-list="bullet">
<div>- APT token unlocked on 13th March, amount representing 6.75% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-Od5xdqugdovnTzx9jpbuPiTKslh" data-list="bullet">
<div>- CYBER token unlocked on 15th March, amount representing 5.98% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-HCjLdhB3lor5dbxaZaLubyZwsWh" data-list="bullet">
<div>- ARB token unlocked on 16th March, amount representing 87.2% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-FA0ud7T96o8TgsxQ3jeuVAzbs2f" data-list="bullet">
<div>- APE token unlocked on 17th March, amount representing 2.61% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-MxRjdZlYHold3mxhyV5u7jPjsne" data-list="bullet">
<div>- MANTA token unlocked on 18th March, amount representing 2.66% of the token supply.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxus4YjLp5SJl4kpW3cKVH2kAb">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxusT0Gv1Hsn6KvpvTrt6ZZoje">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxuskigw3RqZGt33rdBLa6vF2d"><strong>Disclaimer</strong></div>
<div class="ace-line ace-line old-record-id-doxusmwn2Ndv1xTebq3hjCHwzUb"><em>The content prepared by ChainUp Investment Limited (the &ldquo;Company&rdquo;) is not and shall not be construed as an investment advice and does not constitute any offer or solicitation to offer or recommendation of any investment product, including but not limited to the funds or investment products that may be offered by the Company. It is for general purposes only and does not take into account your particular objectives, financial situation, or needs. Investment involves risk and you should be aware that the value of digital assets/tokens may fluctuate greatly if such investment involves digital assets/ token. You should invest only if you are prepared to accept the risk of losing all of the money you put into such investment.The content of this email is confidential and proprietary to the Company, and no part of it or its subject matter may be reproduced, redistributed, passed on, or divulged to any other person or published in whole or in part for any purpose without the Company's prior written consent. If received in error, please inform the Company immediately. The content of the email may be restricted by law and not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to local law or regulation. The Company shall have no liability for any misuse or unauthorised distribution of the content of this email. The content of the email may contain forward looking statements that involve known and unknown risks, uncertainties, and other important factors that may cause actual results, performance, or achievements to be materially different from future results, performance, or achievements expressed or implied by such statements. Past performance is not indicative of future performance.The Company does not guarantee the accuracy or completeness of any information in the email and makes no representation or warranty, express or implied, as to its fairness, accuracy, or completeness. None of the Company, its advisers, connected persons, or any other person accepts any liability whatsoever for any direct or consequential loss arising from the use of the presentation or its contents. Nothing in this email excludes any liability for fraudulent misrepresentation. Any investor or prospective investor should consult its own counsel and advisers as to all legal, tax, regulatory, financial, and related matters concerning an investment and as to their suitability for the investor or prospective investor.The content of this email has not been reviewed by the Monetary Authority of Cayman Islands or Singapore. If there is any inconsistency between the English and Chinese versions of this disclaimer, the English version shall prevail.</em></div>
</div>




Headline News



- BTC price increased 43.71% in February, the highest gain in a month since October 2021. The market