Market News: Circle will postpone IPO process

According to a report by Sing Tao Headlines, the virtual asset trading platform JPEX has been suspected of fraud for 18 months now, and the Hong Kong police have successfully frozen 228 million yuan. Hong Kong Election Committee member Wu Jiezhuang is concerned about whether the police can help the victims recover the defrauded money. In response, Hong Kong Police Commissioner Zhou Yiming said that the relevant cases are still under investigation, and the police will seek legal advice from the Department of Justice on different parties involved. The frozen funds can only be determined how to distribute them after the case is completed. Zhou Yiming also stated that the Hong Kong police have established an electronic system for bank documents to analyze the flow of funds in bank accounts. In response to fraudsters using virtual assets to receive payments and launder fraudulent funds, they have jointly developed a one-stop virtual asset analysis tool with local universities.

Coinbase has officially announced that it has begun actively preparing for the upgrade and will implement necessary updates after Pectra goes live. Coinbase also stated that it will continue to closely monitor the preparation work for system updates to ensure customers have a smooth online experience. Previously, it was reported that due to configuration issues during the activation of the Holesky and Sepolia testnets, the Ethereum Pectra upgrade was temporarily delayed and is currently scheduled to be launched on the mainnet on May 7th.

BlockBeats News: On April 12th, according to the monitoring of Ashes, DWF Labs has started adding liquidity to the US dollar stablecoin USD1 launched by WLFI on the chain. This means that the US dollar stablecoin launched by WLFI, a DeFi project supported by the Trump family, can now circulate and trade on the chain. DWF Labs has received 11 million USD1 from WLFI on both ETH and BSC chains in the past 8 days. Today they started deploying USD1 liquidity on these two chains: ETH： USDT/USD1, USDC/USD1, USDf/USD1, and ETH/USD1 liquidity have been deployed on Uniswap V3; BSC： USDT/USD1 and BNB/USD1 liquidity have been deployed on Pancakeswap V3.

According to the popularity ranking, FAR's popularity remains the same as yesterday, ranking seventh. The popularity ranking is as follows: ① FAR （$0.001215，-2.88%） ② BABY （$0.1586，87.65%） ③ ETH （$1593.15，2.24%） ④ CRV （$0.6145，1.34%） ⑤ ORCA （$3.40，12.21%） The purchasing power of FAR's main funds is average, with a net inflow of $107700 within 24 hours and a transaction volume of $396900 within 24 hours, of which the main net inflow is $0.00.

According to BlockBeats, on April 12th, cryptocurrency analyst Ali Martinez stated that Ethereum (ETH) may have completed the bottoming out phase of this market cycle. Data shows that the Entity Adjusted Dormancy Flow indicator for ETH has recently fallen below 1 million. Historically, low levels of this indicator usually indicate macro bottom areas, suggesting that ETH may be undervalued and long-term holders are less inclined to sell.