Golden Weekly is a weekly blockchain industry summary column launched by Golden Finance, covering the week's key news, market and contract data, mining information, project dynamics, technological progress and other industry dynamics. This article is a project weekly, taking you to see the progress of this week's mainstream projects and star projects.
Bitcoin
German government Bitcoin address balance has been depleted
According to Arkham monitoring, the German government's Bitcoin address balance has been exhausted, and 3,846.05 BTC (about $223.81 million) have just been sent to Flow Traders and 139Po (possibly an institutional deposit/OTC service). The current Bitcoin balance in the address is 0.
US Congressman: Bitcoin and digital assets are the future
U.S. Senator Cynthia Lummis posted on the X platform that Bitcoin and digital assets are the future. Her main agenda includes: banning the retail of central bank digital currencies; explicitly protecting self-hosted Bitcoin wallets; and restoring the dollar's dominance in the 21st century. Earlier, she said on a FOX news program that "having Bitcoin reserves can help the dollar remain strong."
Bitcoin cross-chain bridge XLink has joined the Core Ignition airdrop incentive program
On July 11, XLink, the Bitcoin cross-chain bridge developed by AlexLab, has joined the Core Ignition airdrop incentive program. From July 10 to 28, users can use XLink Bridge to deposit aBTC into Colend and Glyph to get 5x Sparks multipliers and additional dApp rewards such as APY and transaction fees, as well as a tiered points system including XLink points, G points and Colend points for the upcoming airdrop.
UK regulator warns public of fake lawyer Bitcoin scam
The Solicitors Regulation Authority (SRA) has issued a warning about a new scam that involves fake solicitors sending emails asking for Bitcoin payments. The scam email contains a Bitcoin wallet link that may contain malware. It falsely uses the name "Patrice Joyce" and claims to be associated with legitimate firms Attwaters Solicitors LLP and Attwaters Jameson Hill Solicitors. However, the SRA confirms that they do not authorise a solicitor named Patrice Joyce. The SRA advises individuals to perform due diligence if they receive suspicious correspondence. This includes contacting the law firm directly through a reliable means to verify the authenticity of the email and checking the SRA's records to confirm the authorisation of the individual or law firm.
Goldman Sachs Global Head of Digital Assets: The launch of spot Bitcoin ETF is a new driving force in the encryption field
Mathew McDermott, global head of digital assets at Goldman Sachs, said the launch of a spot Bitcoin ETF is a “new impetus for the cryptocurrency space.”
Lugano, Switzerland encourages Bitcoin payments for daily expenses
Bitcoin journalist Joe Hall recently visited Lugano, Switzerland, to validate its reputation as the friendliest crypto city in the world. Lugano is known for its progressive acceptance of digital currencies and its leading position in Bitcoin trading. Hall visited the city's Bitcoin School and interviewed Blockstream CEO Adam Back and Tether CEO Paolo Ardoino about the future of Bitcoin and Lugano's role in crypto innovation. He also tested the feasibility of using only Bitcoin for daily expenses in Lugano, including dining and shopping, and found that Lugano not only supports Bitcoin payments, but also actively encourages this payment method, showing that a Bitcoin-based lifestyle is completely feasible here.
Bitcoin's correlation with U.S. stocks falls to multi-month low
According to data from The Block, the 30-day Pearson correlation between Bitcoin and the Nasdaq and Bitcoin and the S&P 500 fell to -0.84 and -0.82, respectively, the lowest since November 2023. The Block's data is consistent with a recent Bloomberg report that the 90-day correlation coefficient between Bitcoin and the Nasdaq 100 fell to 0.21 on Tuesday, a multi-month low.
Bernstein: Bitcoin miners are partners in building AI data centers
Bitcoin miners are attractive partners to help build artificial intelligence (AI) data centers due to their available power and operational capacity, brokerage firm Bernstein said in a research note on Tuesday. Bitcoin miners have access to a large amount of power supply, currently controlling about 6 gigawatts (GW) of power access, and will reach 12GW by 2027, the report noted. Miners are at the forefront of the "large load power interconnection queue" and can therefore help potential partners save time in obtaining energy supply. Bernstein said it expects the top five US bitcoin miners to continue to consolidate in size and grow Bitcoin's global hash rate to around 25%, with a medium-term choice to turn to artificial intelligence. The hash rate is a proxy for industry competition and mining difficulty. The broker remains bullish on bitcoin and predicts that the asset will reach $200,000 by 2025, $500,000 by 2029, and more than $1 million by 2033, and said its confidence has increased following the successful launch of a spot bitcoin exchange-traded fund (ETF) in the United States in January.
Ethereum
Ethereum network gas fee drops to 2 gwei
Etherscan data shows that the current Ethereum network gas fee has dropped to 2 gwei.
Franklin Ethereum Trust Files 8-A12B Application
Franklin submitted the 8-A12B application document for its Ethereum Trust to the U.S. SEC.
Vitalik: Ethereum network should respond to 51% attacks in a more automated way
Ethereum co-founder Vitalik Buterin advocated for a push to make the Ethereum network better prepared for a 51% attack during his keynote at the ETHCC in Brussels. He believes that an automated response to such attacks should be prepared, which would take some pressure off the social layer. A potential response to such an attack would be for honest validators to move to a fork of the chain, and current plans would rely heavily on social consensus, with community members working together to agree on a fork. However, Buterin believes that it would be better if the network was better prepared for such a response. He said that such a response would be largely automated and planned in advance. Buterin also advocated for increased adoption of light clients in Ethereum's infrastructure layer, especially wallets. He said that they should also support validation of zk-EVM, providing further support for layer 2 networks. In addition to this, he also believes that the protocol should be further simplified to make life easier for developers and users.
Ethereum ETF issuers may follow Bitcoin’s example and set the fee rate between 0.19% and 0.3%
The spot Ethereum ETF from asset management companies Invesco and Galaxy will charge investors a management fee of 0.25%, slightly higher than the 0.20% disclosed by VanEck last month. Analysts believe that the management fee is used by the issuer to pay for the maintenance expenses of the fund, such as marketing expenses, salaries and custody services. Most issuers of spot Bitcoin ETFs choose a fee rate between 0.19% and 0.30%, and Ethereum ETF issuers may do the same.
Six US spot Ethereum ETF applicants have submitted S-1 filings update
Six U.S. spot Ethereum ETF applicants have submitted S-1 document updates, including Fidelity, VanEck, Franklin, 21Shares, Grayscale, and BlackRock.
other projects
Solana Ecosystem NFT Project RETARDIO's Market Value Surpasses DeGods
Golden Finance reported that according to Degen News’ post on the X platform, data from the Magic Eden platform showed that the NFT project RETARDIO has surpassed the market value of the NFT project DeGods.
Meme project DOGS has built-in Telegram Stars purchase function, which has aroused community doubts
According to news on July 12, Telegram's native Meme project DOGS now has a built-in TelegramStars purchase function, with a 1:1 exchange rate, and TelegramStars can be purchased directly with fiat currency. It is reported that TelegramStars is a virtual item that allows users to purchase digital goods and services from robots and applets within the Telegram ecosystem, and give gifts to content creators on the Telegram platform. This move has caused widespread discussion in the crypto community, saying that this may be an official sale of coins, and the total amount of tokens can be unlimited, which has aroused community doubts.
Solana Blink concept NFT project SEND IT's transaction volume exceeded $1 million in the past 24 hours
Golden Finance reported that according to Cryptoslam data, Solana Blink concept NFT project SEND IT's transaction volume exceeded 1 million US dollars in the past 24 hours, currently reaching about 1.069 million US dollars, an increase of 171.32%, and the on-chain transaction volume was close to 20,000 transactions, of which the number of NFT buyer addresses was about 1,800 and the number of seller addresses was close to 3,000. So far, the total sales amount of SEND IT on the chain has reached 1.929 million US dollars, with a transaction volume of about 215,000 transactions.
Meme project DOGS has built-in Telegram Stars purchase function, which has aroused community doubts
According to news on July 12, Telegram's native Meme project DOGS now has a built-in TelegramStars purchase function, with a 1:1 exchange rate, and TelegramStars can be purchased directly with legal currency. It is reported that TelegramStars is a virtual item that allows users to purchase digital goods and services from robots and applets within the Telegram ecosystem, and give gifts to content creators on the Telegram platform. This move has caused widespread discussion in the crypto community, saying that this may be an official sale of coins, and the total amount of tokens can be issued indefinitely, which has aroused doubts in the community.
Terraform Labs to sell four of its projects
Golden Finance reported that the bankrupt cryptocurrency company Terraform Labs is considering selling its four businesses as part of a $4.5 billion deal with U.S. securities regulators that will terminate its business operations, including: portfolio tracking platform Pulsar Finance, crypto wallet platform Station, code-free decentralized autonomous organization (DAO) management platform Enterprise, and its smart contract automation protocol Warp. Terraform Labs added that the sale is to "maximize value for creditors and other stakeholders" and is part of its "broader and gradual closure of the business in accordance with the terms of the settlement reached with the U.S. Securities and Exchange Commission."
Goldman Sachs to launch three tokenization projects by year end
Golden Finance reported that Mathew McDermott, global head of Goldman Sachs digital assets, said that Goldman Sachs intends to expand its cryptocurrency products, including launching ambitious initiatives in the field of tokenization; Goldman Sachs plans to launch three tokenization projects with major clients by the end of this year, including its first project in the United States.
