Crypto World Daily Summary: GBTC inflows of $63 million on Friday; Uniswap CEO views on Token distribution; users lose $71 million in WBTC due to Address poisoning attack

Let's start with Bitcoin ETF trading activity, according to Farside Investor data, Grayscale Bitcoin Spot ETF (GBTC) continued to see outflows of $63 million on May 3, while Fidelity Bitcoin Spot ETF (FBTC) saw $102.6 million inflows, Bitwise Bitcoin Spot ETF (BITB) inflows of $33.5 million, and 21Shares Bitcoin Spot ETF (ARKB) inflows ARK 21 Shares (ARKB). $28.1 million.

Notably, GBTC Spot Bitcoin ETF funds ended a 78-day streak of outflows. GBTC's cumulative outflows totaled more than $17.5 billion as of May 2 since U.S. Spot Bitcoin ETF began trading on January 11, but the higher-fee fund suddenly generated $63 million worth of inflows on Friday.

Recently, the re-stake network EigenLayer announced a Airdrop, but a significant long of users were excluded. They slammed the re-stake protocol release statement, highlighting in particular its non-transferable Token structure, strict geographical restrictions, and significantly shorter Snapshot periods. In long wick candle, EigenLayer distributed an additional 28 million EIGEN Tokens to more than 280,000 Wallets after the first Airdrop.

As the encryption community has expressed concerns about the transparency and fairness of EigenLayer's Token distribution, Uniswap founder and CEO Hayden Adams gave his opinion on the ethical considerations of effective Token distribution. A few days ago, in an article, Adams spoke about his views on the ethics of Token distribution, emphasizing that he was talking about Tokens and not Points. He then criticized the practice of creating ambiguity in the Token distribution process to exaggerate engagement metrics.

As an executive at Uniswap, Adams is a strong opponent of low Circulating Supply Token, arguing that they are malicious and the one he hates the most. He believes that projects can efficiently distribute Tokens without relying on exchanges or market makers. The ideal approach, he said, would be to publicly distribute tokens, enabling true price discovery on a DEX exchange (DEX).

Adams also criticized the practice of exploiting people's unit bias to create an excessively high Token supply, noting that this practice is unnecessary. In addition, he advises Token distributors not to be too conservative and encourages the majority of Token to be used for distribution.

In conclusion, Uniswap executives urged token issuance to be thoughtful and transparent about their projects, and for UNI Token, he stressed the importance of publishing a Token that they can be proud of and support to avoid being questioned within the Crypto Assets community.

Someone lost more than $71 million worth of WBTC in what appeared to be "Address Poisoning" attack. WBTC is an ERC Token pegged 1:1 to Bitcoin that can be used in the Ethereum ecosystem. According to an on-chain transfer from the Etherscan Blockchain Explorer, the victim transferred 1,155 WBTC ($71.1 million) to the alleged attacker. Since then, the Hacker's Address have been flagged as "fake" and "Phishing" on the Ethereum Blockchain browser Etherscan. The so-called Address poisoning attack is when Hacker construct Wallet Address similar to the victim through Virtual Address services or Address mining, and spam the victim with a large number of transactions. If the victim accidentally copies the Hacker's fake Address, they transfer the funds to the Hacker instead of themselves.

For users, in order to deal with various scams, it may be more reliable to copy the Address from the transactions already made in the Wallet when transferring Crypto Assets.

Market Analysis: BTC Significant Rebound alt season is about to begin?

After a significant falling last week, BTC rebounded strongly from a low of $56,500 to around $64,500, and the market is currently in a wide range. With the rebound of Bitcoin, the alt market has also ushered in a large-scale pump, especially the outstanding performance of AI concept coins. Historically, large pullbacks in Bitcoin have tended to trigger so-called "alt seasons."

On the macroeconomic front, U.S. equities have recently shown a strong pump upward trend, with the U.S. dollar index fall relatively downward. The better-than-expected non-farm payrolls data supported expectations that the Fed could cut rates earlier this year, with the market now widely expecting a rate cut from November to September.

Detailed explanation of market hot spots:

1. **AI concept coins big pump: **AR, ARKM, WLD, RNDR, AKT, ALEPH and other AI concept coins have recently pumped sharply. The main buzz in the market is still focused on AI and meme concepts. With the upcoming release of ChatGPT 5 and Apple's developer conference, the market's interest in AI concept coins has increased significantly, and some AI concept Tokens have returned to their previous highs before the falls.
2. Strong performance of established coin: Tellor (TRB) and Frontier (FRONT) have big pump in recent days, with TRB pump more than 100% in the past three days. As the market gradually stabilizes, these established coins with strong market operations have once again become the focus of investors' attention.
3. Risks to watch for in the future: STRK plans to unlock $100 million worth of tokens next week. Such events could bring significant selling pressure from early investors, and while the market capitalization may pump up, the Token price may be suppressed, and investors should keep a close eye on this dynamic.

The current Crypto Assets market is showing signs of recovery, especially in the AI and Meme zones. However, with the release of major events and data, market Fluctuation is likely to intensify. Investors should remain vigilant, pay attention to macroeconomic changes, technological developments, and related Token unlocking events, and adjust strategies in a timely manner to respond to changing market conditions.

Macro: Global markets were buoyed by dovish Fed statements and upbeat labor reports

Wall Street stocks closed pump on Friday, largely as a weaker-than-expected jobs report supported the view that the Federal Reserve cut interest rates, while also providing evidence of the resilience of the U.S. economy. All three major U.S. stock indexes rose sharply pump pump, led by the technology-dominated Nasdaq index.

Specific index performance was as follows: the Dow Jones pumped 1.18%, the S&P pumped 1.26%, and the Nasdaq pumped 1.99%.

Fed Chair Jerome Powell made a more dovish than expected statement after Wednesday's Intrerest Rate decision, which cheered markets. At the same time, the Labor Department's employment report showed that the number of new jobs in the United States was lower than expected, the unemployment rate was rise, and wage rise also unexpectedly slowed. The report may have hit the Fed's soft underbelly, providing signs of weakness in the labor market, which Powell believes is necessary to keep inflation on a sustainable downward path.

The report also provides assurance about the health of the U.S. economy. This prompted investors to ramp up bets that the Fed will cut interest rates for the first time in September.

The first-quarter earnings season is about to enter its final phase, with 397 companies in the S&P 500 reporting as of Friday morning. Among them, according to LSEG data, 77% of companies reported results that exceeded consensus.

Notably, Apple Inc. announced a record $110 billion share buyback program and beat quarterly expectations, sending its stock price soaring 6.0%. Biotech company Amgen also pumped 11.8% on its experimental weight-loss drug MariTide's interim data and encouraging first-quarter earnings performance.

Asian stocks pumped on Monday as markets renewed bets that the Federal Reserve could cut interest rates this year. In addition, the yen weakened slightly at the start of the week after surging sharply last week on a suspected intervention in Tokyo.

The U.S. dollar held steady after employment data released by the Labor Department showed an economic slowdown, which further supported expectations that the Fed could cut interest rates twice this year. And the Japanese yen recorded its strongest pump in 17 long last week.

Last week, the Japanese market was closed for a holiday, and the Chinese market was also closed for three days. But after data showed a slowdown in the U.S. job market, Fed Chair Jerome Powell's confirmation of central bank easing, and Japanese intervention pushed the yen higher, the dollar retreated and the offshore RMB coin pumped slightly.

Data released on Friday showed that U.S. job growth rising more than expected in April, with annual wage growth falling below 4.0% for the first time in nearly three years, sparked optimism that the Fed could implement a "soft recovery."

Eventually, at the end of the two-day monetary policy meeting, the Fed kept Intrerest Rate unchanged but signaled that it was still leaning toward an eventual rate cut, even if it could take longer than initially anticipated.

In commodities, Brent crude futures pump 0.3% to $83.21 a barrel, while U.S. crude futures also edged up pump 0.35% to $78.39 a barrel.

Gold pumped 0.2% to $2,307.15 an ounce.

by Sherry S. & Icing. This article represents the views of the author only and does not constitute any trading advice. The content of this article is original, the copyright is owned by Gate.io, if you need to reprint, please indicate the author and source, otherwise you will be held legally responsible.