Hong Kong’s debut of six new spot Bitcoin and Ethereum exchange-traded funds (ETFs) marked a trading volume of HK$87.5 million ($11.2 million). This volume was significantly below the inaugural trading of 11 spot Bitcoin ETFs in the U.S., which achieved a staggering $4.6 billion.

Meanwhile, bitcoin’s price dumped below $61,000, having experienced a 2.3% decline within the last 24 hours and an 8% decrease over the past week.

Hong Kong’s ETFs Record Low Volumes

The Hong Kong Stock Exchange (HKEX) data indicates that the performance and interest in the six Bitcoin and Ethereum ETFs managed by China Asset Management, Harvest Global, Bosera, and HashKey were relatively low after debuting in Hong Kong today.

The Bosera HashKey Bitcoin ETF recorded HK$249,000 in first-day trading volume, while the Bosera HashKey Ether ETF saw HK$99,000 in trading volume at the closing bell.

In contrast, the China Asset Management (CAM) Bitcoin ETF performed better, generating HK$4.6 million in trading volume at the closing bell. The CAM Ether ETF also had a trading volume of HK$4.6 million.

Bitcoin Falls Below $62,000

Even with the introduction of Bitcoin and Ethereum ETFs in Hong Kong, the overall sentiment in the crypto market remains negative. Perhaps driven by the disappointing numbers coming from Asia, BTC reacted in a negative manner and dumped below $61,000 for the first time in 11 days.

Bitcoin started last week with some positive momentum, briefly surpassing $67,000. However, it failed to sustain this upward trend and began to lose value, reaching a low of $60,700 on Monday.

Following a brief recovery to $64,800, bitcoin faced another rejection, struggling to maintain even a minor rally. Meanwhile, the rest of the crypto market followed suit, with the market capitalization dropping 3% over the last 24 hours to $2.35 trillion.

Aethir – a distributed GPU cloud computing platform – has announced teaming up with NFT giant Magic Eden to boost Web 3.0 gaming on a massive scale. The aim is to create a unified Web 3.0 gaming ecosystem by utilizing Aethir’s enterprise-grade GPU infrastructure and Magic Eden’s NFT platform.

The latest initiative will also enable Magic Eden’s gaming partners to have access to Aethir’s premium GPU-as-a-service platform, while the latter will recommend Magic Eden to its gaming partners as their primary NFT platform.

Aethir and Magic Eden Team Up

In a press release shared with CryptoPotato, Aethir stated that Magic Eden is a “highly versatile NFT hub” used by projects from different segments of the NFT industry, but gaming projects are a vital element of the marketplace.

With blockchain gaming becoming highly demanding regarding GPU power coupled with the rapidly growing number and quality of blockchain games, there is a need for scalable cloud infrastructure to accommodate new games and players.

As such, Aethir aims to provide the necessary GPU resources to power the next generation of blockchain games. Through its decentralized cloud infrastructure, Web 3.0 gaming projects can ensure a smooth experience for their users regardless of their location.

Enhancing Global Gaming Accessibility

Aethir, which is an AI-focused GPU-as-a-Service provider, revealed that its computing infrastructure distributes GPU Container resources globally. Rather than relying on a small number of centralized big-tech data servers, the company employs numerous distributed cloud servers.

This setup reduces the physical distance between gamers and GPU cloud resources, thereby reducing latency. Additionally, Aethir’s technology aggregates processing power from idle GPUs, leading to more efficient GPU usage and cost-effectiveness, the company, which is backed by Hashkey and Animoca Brands, said in a statement.

Following the development, Magic Eden’s CRO, Chris Akhavan commented,

“Aethir’s compute infrastructure has the potential to solve critical issues for distributing web3 games. We’re excited to see web3 studios leverage the ability to have their games instantly playable through any browser by using Aethir’s platform.

This provides the opportunity to reach more gamers in environments that aren’t restricted by the major app stores while giving gamers an instant path to web3 games without the need for lengthy download and install times.”

[PRESS RELEASE – Dubai, UAE, April 30th, 2024]

BNB Chain, the community-driven blockchain ecosystem that includes the world’s largest smart contract blockchain, today announced the second chapter of its “Airdrop Alliance Program.” The successful debut of chapter one with StaryNift, zkPass, KiloEx, Gomble, Web3Go, Ultiverse, and Cellula saw the distribution of 6.1 billion points and 6.9 million tokens. In addition to the reward distribution, the alliance members also launched 12 extra reward airdrop campaigns, tailored for the BNB Chain community, attracting over 500,000 participants so far. The BNB Chain team is kicking things into higher gear with the launch of the second chapter of the Airdrop Alliance Program. 

The program is poised to stimulate renewed activity in BNB Chain’s thriving ecosystem and aims to continue rewarding the community for its support and contribution to BNB Chain.

The Airdrop Alliance Program’s second batch is strategically designed with top-tier projects of the BNB Chain ecosystem that are yet to issue their tokens. The collaboration targets an increased distribution of token airdrops to captivate retroactive users on BNB Smart Chain (BSC) and opBNB. Participating members include:

Full details of each project’s airdrop points and tokens can be found here.

The eligibility criteria for the second chapter are specified as follows:

• Level 1: Migrate at least 1 BNB from the Beacon Chain to BSC using this Stake Migration tool or stake at least 1 BNB on BSC. Only a snapshot on May 15, 2024, at 00:00 UTC, will be considered
• Level 2: Stake at least 5 BNB on BSC. Similarly, the snapshot is May 15, 2024, at 00:00 UTC.

Users can verify if they are qualified for Level 1 or Level 2 on DappBay after May 16. Full eligibility criteria and details can be found here.

The BNB Chain Core Development Team said: “The second chapter of the Airdrop Alliance has a core objective of enhancing community engagement and expressing gratitude to the BNB Chain community for their support towards BSC and opBNB. After the success of the first batch, we look forward to working with leading ecosystem projects to launch chapter 2.”

For more information and updates, users can follow BNB Chain on X.

About BNB Chain

BNB Chain is a community-driven blockchain ecosystem that is removing barriers to Web3 adoption. It is composed of:

• BNB Smart Chain (BSC): A secure DeFi hub with the lowest gas fees of any EVM-compatible L1; serves as the ecosystem’s governance chain.
• opBNB: A scalability L2 that delivers the lowest gas fees of any L2 and rapid processing speeds.
• BNB Greenfield: Meets decentralized storage needs for the ecosystem and lets users establish their own data marketplaces.

Setting a high bar for security, the AvengerDAO community protects BNB Chain users while Red Alarm provides a real-time risk-scanner for Dapps. The ecosystem also offers a range of monetary and ecosystem rewards as part of its Builder Support Program.

For more, follow BNB Chain on X or start exploring via our Dapp library.