Market News: Canary Submits S-1 Filing to the U.S. SEC for PENGU ETF

On March 21st, the BNB Chain successfully completed the Pascal hard fork. This fork introduced the EIP-7702 Smart Contract Wallet. The purpose of this upgrade is to enhance EVM compatibility and developer support. It involves optimizations such as gas fee abstraction, smart payment interface, and batch transactions. The official roadmap for future improvements has been announced. The Lorentz upgrade scheduled for April 2025 aims to reduce the block time to 1.5 seconds, thereby enhancing transaction speed and network efficiency. Subsequently, the Maxwell upgrade planned for June 2025 will further accelerate the block time to 0.75 seconds.

On March 21st, based on DefiLlama's data, the current total market capitalization of stablecoins amounts to $230.45 billion, with an increase of $2.3 billion over the past seven days. Compared to the same period last year, the market capitalization of stablecoins has witnessed a 56% growth. Within the overall market capitalization, Tether's USDT stablecoin holds the dominant position with a market capitalization of nearly $144 billion, accounting for 62.6%. Next comes Circle's USDC, with a market capitalization of $59 billion.

On March 21st, the Meme application chain Embr.fun, which is built on Initia, is about to launch a public test version. Join the waitlist to obtain early access and exclusive rewards. Embr.fun is developed by Embr Labs and is supported in its development by the Initia Interwoven Stack. This project is specifically designed for the next-generation Meme economy, aiming to bring more innovative and fun gameplay to Memes and become the premier platform driving the development of the next generation of Memes.

March 21st. MEXC will list Nillion (NIL) on the Innovation Zone at 21:00 (UTC+8) on March 24th and start trading for the NIL/USDT pair. Deposits for NIL are now available, and withdrawals will be enabled starting from 21:00 (UTC+8) on March 25th. Additionally, the instant exchange feature for NIL will become active at 22:00 (UTC+8) on March 24th. To celebrate the listing of Nillion (NIL), MEXC has launched a $270,000 USDT Airdrop+ event, which has already commenced and will end at 13:00 (UTC+8) on March 31st.

On March 21st, the crypto market research firm Santiment put out a post indicating that due to various decentralized finance and staking options, Ethereum holders have brought down the available supply on exchanges to 8.97 million ETH, which represents the lowest level in nearly 10 years (since November 2015). When compared to 7 weeks ago, the ETH on exchanges has decreased by 16.4%.

On March 21st, as per the report by CoinDesk, the research conducted by data scientist Alex McCullough indicates that the prediction market Polymarket has attained an accuracy rate of 90% when forecasting events one month in advance and a high accuracy rate of 94% within the four hours prior to the event. McCullough analyzed the historical data of Polymarket and, after excluding extreme probability values, discovered that the platform slightly but consistently overestimates the probability of event occurrence within most probability ranges. This behavior may be affected by factors such as herd mentality, low liquidity, and participants' preference for high-risk bets.