Weekly Crypto Recap (March 25th - March 31st)

Here's a weekly recap from Metaverse.SG, highlighting the most notable crypto events this week:

• Market Overview

• Fraud News

• Multiple Airdrop Distributions

• Upcoming Airdrops

Let’s dive headfirst into the main crypto news of this week!


Market Overview

BTC: 

• BTC remained fairly steady throughout the week.

• Spot Bitcoin ETFs saw a net inflow of nearly $509mln this week.

• Only 18 days left until the Halving.

• 9 spot BTC-ETFs have accumulated over 800,000 BTC ($57 billion) in just 54 days.

Fraud News 

​​Sam Bankman-Fried (SBF) was sentenced to 25 years in prison:

• The judge also said that Bankman-Fried lied during his trial testimony when he said he did not know that his hedge fund had spent customer deposits taken from FTX.

FUD over KuCoin:

Prominent Global Cryptocurrency Exchange KuCoin And Two Of Its Founders Criminally Charged With Bank Secrecy Act And Unlicensed Money Transmission Offenses

• KuCoin and its founders, Chun Gan and Ke Tang, are indicted for violating U.S. laws, including the Bank Secrecy Act and operating without necessary registrations. They're accused of intentionally bypassing AML and KYC regulations to cater to U.S. users, contributing to KuCoin's growth. This behavior allowed over $9 billion of suspicious transactions, leveraging the lack of KYC for anonymity. U.S. authorities emphasize the legal obligations of crypto exchanges serving U.S. customers, warning against such regulatory evasion. The defendants remain at large, with the case highlighting the clash between crypto operations and regulatory compliance.

• Over $1.2B was moved out of KuCoin within 24 hours, fueled by spreading FUD.

Multiple Airdrop Distributions

ENA:

• The Shard Campaign concludes April 1st

• ENA can be claimed on April 2nd

• -5% of ENA supply will be airdropped to users, before our second campaign begins

• Any user who unstakes or sells USDe before this date will not be eligible for the airdrop

• Listings on April 2nd followed immediately by the second season of incentives

• The largest 2k wallets will be subject to a 50% linear pro-rata vesting over 6 months

Binance announced ENA Launchpool:

The listing goes live on March 2, when we'll uncover all profit specifics.

Parcl:

Users earned points through trading and liquidity provision, set for token conversion in April.

There were three farming seasons in total, with the final third season recently concluding.

Some statistic before listing:

• Investment: $10,000

• Time: 1 month

• Earned Points: 4,500,000

• Points Cost: 0,0018

• Profit: $8,100 or 81% per month

Upcoming Airdrop

BackPack:

For now there are 3 ongoing campaigns on Backpack Exchange: 

• Pre-Season Phase 1 (ENDED)

• Pre Season Phase 2 (February 13th - April 6th)

• WEN Campaign (March 25th - April 15th)

• TNSR Adventure (March 26 - April 6)

Airdrop Criteria:

• Pre Season Phase 1 - Trading Volume

• Pre Season Phase 2 - Trading Volume + Tensor Adventure(pre-requisite)

• WEN Campaign - WEN taker volume traded

• TNSR Adventure - Backpack Trading Volume + at least 1 trade using Backpack on Tensor

The Strategy: 

• You can actually farm all 3 seasons by trading 1 token - WEN

• Airdrop will be based on your trading volume

• That gives us an opportunity to farm everything by trading WEN

• For Phase 2 and TNSR Adventure you can trade any tokens, for WEN - Only WEN. 

Step-by-Step Guide:

1. Sign up on Backpack - https://backpack.exchange/refer/ikh011

2. Complete KYC

3. Deposit funds on Solana and start trading WEN (for taker's volume you need to perform market trades not limit)

Conclusion:

• Stay tuned

• Stay updated instantly on our X 👉 https://x.com/MetaverseSG. 

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