Huobi Global Weekly（01/31-02/07）：Share $100 Million of Prizes in Prime Fest

Last Week’s Wrap-Up

18th Primelist

Pioneer Zone New Launch

2. What to Watch Out for This Week

>Prime Fest< 

Embark on a Prize-filled Metaverse Journey, Share $100 Million of Prizes in Prime Fest: Tiger Year

From Jan 21, 2022 to Feb 13, 2022

https://www.huobi.com/support/en-us/detail/54896903421009

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>19th Primelist: KT< 

Huobi Primelist to List KingdomX (KT) on February 9

https://www.huobi.com/support/en-us/detail/54898391834348

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>Futures< 

100,000 USDT Giveaway for Contract Master Contest

Trade in our “Contract Master” Contest and Grab 60,000 USDT

Event Period: 8:00 (UTC) on Feb 7, 2022–8:00 (UTC) on Feb 12, 2022

https://www.huobi.com/support/en-us/detail/54896304224628

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400,000 USDT Giveaway for Spot and Derivative Market Makers

Event Period: 16:00 (UTC) on Jan 31, 2022–16:00 (UTC) on Feb 28, 2022

https://www.huobi.com/support/en-us/detail/44897845590932

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Earn Trading Rebates on USDT-M Futures

Campaign Period: From 16:00 (UTC) on January 31, 2022 to 16:00 (UTC) on February 28, 2022

https://www.huobi.com/support/en-us/detail/74897743983616

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>Huobi Earn<

Enjoy Up to 200% APY on ZKP with Huobi Earn

Launch Time: 12:00 (UTC) on Feb 1, 2022

End Time: 12:00 (UTC) on Feb 8, 2022

https://www.huobi.com/support/en-us/detail/64898024286975

Click for more information

3. Market Movers

4. Operating Metrics

Trading Volumes & On-chain Balances Chart

5. Industry Trends

Main Projects Trends

Ethereum: Geth, the main Ethereum client running the PoW network, is nearly ready for merger

Ethereum-Solana bridge on Wormhole network exploited for 120,000 in wETH

Solana Labs announces the launch of the Solana Pay payment protocol.

Wrightcoin MWEB upgrade released.

Cardano's block size is expected to increase.

BM team releases the first candidate version of EOS Mandel 3.0 hard fork, which will enter the testing phase.

ConsenSys announces the acquisition of MyCrypto, an open source crypto wallet.

Vitalik Buterin is helping Dogcoin (DOGE) transition to the PoS network.

AC announces new project Solidly feature update and launch date.

Huobi Research Institute Analysis：

MWEB provides a new security enhancement for on-chain transaction privacy by offering optional confidentiality. MWEB = MW EB, where MW is a combination of different technologies, including but not limited to confidential transactions (making transaction amounts unknown) and CoinJoin (mixed coin). EB can be seen as as an interconnected "adjacent chain" running alongside the main chain of Litecoin ", where users can choose between the two chains. This greater privacy will facilitate the expansion of Litecoin's usage in the payments.

International Industry Trend

Boston Fed and MIT release the first results of their Project Phase 1 results and the results were published accompanied by an open-source code

Silvergate confirms it has acquired the technology and other assets of stablecoin project Diem.

Meta’s has a loss of $10 billion in 2021 for its “metaverse” business.

OpenSea hits another record high with over $5.1 billion in January trading volume.

Looksrare, an NFT platform, whose service fee rewards has hit another record high.

Nearly 300 community banks in the U.S. want to offer bitcoin trading to their customers.

The SEC delayed Bitwise and Grayscale's Bitcoin ETF applications again.

Huobi Research Institute Analysis：

OpenSea has faced internal and external problems in recent months, especially with aggressive competitors from all sides. Drawing on the experience of cryptocurrency exchanges, a top-tier trading platform may need to have strengths in these areas: advanced product design and good user experience, security of assets or sufficient funding, and pretty good user amount. There is more for Opensea to improve. And the trading platforms that make progress in these areas are likely to take their place in NFT area.

Regulations

U.S. Senate to schedule hearings on stablecoins.

The introduction of a draft by U.S. Representatives to block the IRS from taxing crypto earnings under $200.

The U.S.  Treasury Department issuing a warning that NFT can be used for money laundering.

Recognizing mining as an entrepreneurial activity would allow Russian authorities to tax it and also raise electricity tariffs for mining entities.

India to impose a 30% tax on income from the transfer of virtual digital assets.

Dutch lawyers urging investors to declare crypto assets truthfully.

The Japanese Virtual Currency Asset and Exchange Association (JVCEA) is considering loosening restrictions on coin listing.

South Korea has asked mobile app marketplaces to remove play-to-earn games.

Huobi Research Institute Analysis：

Atomyze, tokenizes and sells the stockpiled metals of Russian’s mining and smelting giant Nornickelm. It is going to enable legally issue tokens and offer wallets to Russian users. The DFA here is more like a digitized physical asset than a typical crypto asset, and the move could be seen as an attempt to digitize assets in Russia.

6． Weekly Blockchain Deals

Huobi Research Institute Analysis：

 The Blockchain investing and financing deals over this week reached 15 in total (there were two deals without showing the exact amount), or 1 billion USD in valuation. It is only half of last week in terms of the quantity and amount.

In terms of tracks, the investment and funding were mainly focused on the NFT, Gaming and Infrastructure.

There were four funding over $100 million:

FTX raises $400 million in Series C funding with participation of SoftBank, Paradigm and others;

Trust Machines closes $150 million financing round with Breyer Capital and DCG, etc.

Phantom, the Solana eco-crypto wallet, raised $109 million in equity financing led by Paradigm.

NFT development platform PixelVault raised $100 million in funding with participation of Velvet Sea Ventures and 01A.

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