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Today’s Cryptocurrency Headline

The Solana-based decentralized exchange Serum is fundraising through its Incentive Ecosystem Foundation to expand the market and technical team, and develop new products, including “NFT, games, metaverse and DAO tools.” So far, the foundation has raised $70 million, Commonwealth Asset Management LP, Tagus, Tiger Global and executives at Golden Tree Asset Management have all participated in this round. According to Serum’s core contributor JHL, the Incentive Ecosystem Foundation is an entity used to provide salaries and benefits to contributors. It will also manage the Serum Ecosystem Fund, which holds tokens for the Serum and Solana ecosystems, including projects such as Raydium and Bonfida.

BingX’s Bitcoin Chart

Source: TradingView& BingX

According to data from DefiLlama, the current total value locked of Terra is US$16.21 billion, ranking third among all public chains. At present, the top 5 public chains are Ethereum (US$144.87 billion), BSC (US$16.54 billion), Terra (US$16.21 billion), Avalanche (US$10.92 billion), Solana (US$9.97 billion). BTC fell to $42,000 today and was down about 9% over the past week. The daily chart shows there is minor support around $40,000, which may stabilize the downward trend. However, the upside appears limited around the $45,000 resistance level. If bears manage to sink the price below $40,000, BTC could plummet to $30,000. 

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