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Welcome to the last edition of Datawallet Daily for the week. As always, we’re spotlighting the key stories that have shaped the crypto market in the last 24 hours.
- Bitcoin ETFs Experience Outflows for Fourth Consecutive Day
- Nim Network Debuts Genesis Rolldrop for AI Gamers
- Espresso Raises $28M for Shared Sequencing Marketplace
- Crypto Game on Blast Exploited for $4.6M
Bitcoin ETFs Experience Outflows for Fourth Consecutive Day
US spot Bitcoin ETFs have experienced their longest outflow streak in their 10-week existence, with $836 million leaving the funds this week, culminating in a total of $1.8 billion over four days. Despite record inflows last week, the outflows were significantly driven by the Grayscale Bitcoin Trust ETF (GBTC), which saw a peak outflow of $642 million on Monday, overshadowing inflows into BlackRock’s iShares Bitcoin Trust (IBIT).
GBTC’s higher fees and recent approval for Genesis to sell $1.6 billion in shares are contributing factors. This outflow streak coincides with a dip in Bitcoin’s price, although recovery signs are emerging, with expectations of future inflows as more advisory firms approve Bitcoin ETFs for clients.
Nim Network Debuts Genesis Rolldrop for AI Gamers
Nim Network, a blockchain tailored for AI gaming, has initiated its Genesis Rolldrop, distributing 9% of its NIM tokens. Eligible wallets have a two-week window to claim a share of 90 million tokens, with 50 million specifically earmarked for Dymension (DYM) stakers. This event marks Nim Network’s debut on Dymension, a Cosmos-based platform facilitating modular blockchains.
The airdrop targets diverse communities, including gamers in Parallel, Pirate Nation, and AI Arena, along with NFT collectors in Pudgy Penguins and 9dcc, and contributors to projects like Ocean and Gitcoin. This strategic distribution aims to bolster Nim’s presence across gaming and NFT sectors, leveraging Dymension’s infrastructure for enhanced security and scalability.
Espresso Raises $28M for Shared Sequencing Marketplace
Espresso Systems, a blockchain company known for its shared sequencer solution, has raised $28 million in a Series B funding round led by a16z crypto. Espresso’s innovation, the shared sequencer network, aims to decentralize transaction ordering across different rollups, addressing centralization and trust concerns in layer-2 scaling solutions.
CEO Ben Fisch highlighted that shared sequencing could enhance interoperability and economic efficiency across rollups, contributing to a more unified Ethereum experience. The technology, which includes the HotShot proof-of-stake system, has been tested with major scaling solutions and will see further expansion with the upcoming Cappuccino testnet and Espresso marketplace, enhancing rollup sovereignty and market dynamics.
Crypto Game on Blast Exploited for $4.6M
The newly issued Super Sushi Samurai (SSS) gaming token on the Blast layer-2 network was exploited, resulting in a $4.6 million loss. An unknown hacker exploited the smart contract’s mint function less than a week after the token’s introduction, causing its value to plummet by over 99%.
The team acknowledged the exploit in a Telegram announcement and mentioned that they are in contact with the hacker, who has proposed a plan to reimburse affected users. Security firm CertiK confirmed the financial loss, while a developer highlighted a critical bug in the token’s contract that allowed the exploit.
Other breaking news
- OKX Cryptocurrency Exchange to Cease Operations in India
- Bitcoin-Backed Core Chain Announces $15M Funding for Developers
- FTX CEO: Former Exchange Faces $9B in Government Claims
- BlackRock’s $100M BUIDL Fund Trolled On-chain
- Frax Finance Aims for $100B Value Locked in Singularity Roadmap
For the latest updates on digital asset markets, follow us on X @Datawalletcom.
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