Compiled by: Luan Peng, ChainCatcher
Important Information:
Vitalik: Off-chain ZK applications underestimate the potential of using STARKs
Trump says he will ensure a lot of cryptocurrency activity in Florida if re-elected
Justin Sun: Although I don’t fully agree with ZK’s decision to launch HTX, we also need to consider factors such as the quality of the project
Zksync: The current network load is too high, and the performance of some RPCs has degraded
TokenTerminal: Deposit funds in staking and re-staking agreements have reached $70 billion
Australian Securities Exchange ASX approves its first spot Bitcoin ETF
Ethereum Scaling Ecosystem Total TPS Hits All-Time High
Data: The total amount of financing in the crypto industry in the past ten years has exceeded 100 billion US dollars
“What important events have occurred in the past 24 hours?”
Vitalik: Off-chain ZK applications underestimate the potential of using STARKs
Ethereum co-founder Vitalik Buterin posted on social media that he believes that off-chain ZK applications really underestimate the potential of using STARK, including use cases with high privacy requirements. Currently, STARK is less than 100 kB, and for off-chain use cases, this amount of bandwidth is negligible compared to the client proof time saved by using STARK.
Trump says he will ensure a lot of cryptocurrency activity in Florida if re-elected
Trump said that if he wins a second term, he will ensure there is a lot of cryptocurrency activity in Florida.
Justin Sun: Although I don’t fully agree with ZK’s decision to launch HTX, we also need to consider factors such as the quality of the project
Justin Sun said that he had seen some feedback from the community on the launch of ZK and believed that the voice of the community was very important. Although he personally did not fully agree with the decision to launch HTX, the decision to launch is diverse and needs to consider comprehensive factors such as the quality of the project, the overall scale, and the launch of friendly companies. He said that he would continue to investigate and listen to the voice of the community.
Zksync: The current network load is too high, and the performance of some RPCs has degraded
Zksync said on the X platform that the current network load is too high and some RPC performance has declined. The team is working hard to increase RPC capacity.
TokenTerminal: Deposit funds in staking and re-staking agreements have reached $70 billion
TokenTerminal pointed out on the X platform that the funds deposited in the staking and re-staking protocols have reached about 70 billion US dollars, and the top five protocols including Lido Finance, Eigenlayer, Coinbase Wrapped Staked Ether, Rocket Pool, and Marinade account for about 90% of the market share.
Australian Securities Exchange ASX approves its first spot Bitcoin ETF
According to Bitcoin Magazine, Australia’s largest stock exchange ASX has approved its first spot Bitcoin ETF.
Ethereum Scaling Ecosystem Total TPS Hits All-Time High
According to Cointelegraph, the Ethereum ecosystem's transactions per second (TPS) has surged to an all-time high due to a sudden surge in Ethereum Layer3's TPS. L2BEAT data shows that on June 16, the Ethereum expansion network, including Layer2 and Layer3 blockchains, recorded a total of 246.18 TPS, equivalent to about 21.2 million transactions throughout the day. Among them, more than 41% of the transactions occurred on Xai, a new Ethereum Layer3 expansion solution focused on gaming applications. Before June 10, Xai's TPS hovered around 1 per day, but has been rising almost every day since then, reaching a peak of 101.72 TPS on June 16.
Data: The total amount of financing in the crypto industry in the past ten years has exceeded 100 billion US dollars
According to Cointelegraph, crypto startups have raised more than $100 billion since the end of May 2014. According to DefiLlama data, as of June 16, 2024, the total amount of funding in the cryptocurrency industry reached $101.35 billion. Back in May 2014, industry startups raised only $17.14 million in the first month. Ten years later, in May 2024, the monthly financing amount increased to $280.25 million. In October 2021, cryptocurrency startups raised a historical peak of more than $7 billion, and the second peak was $3.67 billion in February 2022. Research shows that nearly half of cryptocurrency funds come from US investors, with the UK and Singapore ranking second and third.
El Salvador government proposes bill to allow private investment banks to lend Bitcoin
The government of El Salvador has proposed an initiative to reform the current banking law, introducing a new type of bank that can lend Bitcoin and crypto services. The initiative will allow private investors to form banks that provide Bitcoin and stablecoin services to sophisticated investors. If passed, the plan will allow the creation of these banks, which can provide different services, including economic risk management, purchase of financial products, investment management, hedging and other financial derivatives. These services will support any legal currency in El Salvador, such as the US dollar and Bitcoin.
CME Fed Watch: The probability of the Fed keeping interest rates unchanged in August is 87.6%
According to CME’s “Fed Watch” data, the probability that the Fed will keep interest rates unchanged in August is 87.6%, and the probability of a 25 basis point rate cut is 12.4%.
"What are the interesting articles worth reading in the past 24 hours?"
Data extraction: ETFs are delaying the real bull market
Since the cryptocurrency market turned bullish this year, the emergence of ETFs has been seen by many as an important sign of mainstream financial market acceptance of digital assets. The approval of Bitcoin ETFs and other cryptocurrency-related ETFs has undoubtedly opened the door for traditional investors to enter this emerging market, bringing unprecedented liquidity and exposure.
However, these seemingly positive developments may hide potential risks to startup crypto projects and the health of the small cryptocurrency market. As a large amount of retail funds flow into these widely publicized financial products, funds that might have flowed to the primary and secondary markets are absorbed in large quantities, which may lead to a lack of attention for new projects or a lack of follow-up. This article will explore the "double-edged sword effect" of cryptocurrency ETFs and how it affects the capital distribution and market dynamics of the entire crypto ecosystem.
In short, is the popularity of Bitcoin and Ethereum ETFs at the expense of draining away funds that would otherwise flow into new projects, thereby killing the future vitality of the cryptocurrency market? Is the bull market we are facing a real bull market?
A comprehensive review of Base Ecosystem’s new and unique products: Onchain Summer is coming
As an L2 network with the grand vision of "leading 1 billion users into the on-chain society", the Base ecosystem is undoubtedly in the first echelon in the industry in terms of its inclusiveness for various application products.
In the early morning of June 14th, Beijing time, Base officially issued a statement hinting at a cooperation with the world-class sports brand Adidas. For a time, speculation about a new round of Base Onchain Summer once again became the focus of market attention. Odaily Planet Daily will briefly review and introduce some representative products of the Base ecosystem in this article for readers' reference.
Coinbase Summit Notes: Why are institutional investors so confident in cryptocurrencies?
Spent the day at the Coinbase State of Crypto summit.
Many pension funds, endowment funds, brokerage firms, asset managers, banks, etc. attended the meeting, and the mood of the participants was very optimistic when they left.
I took shorthand notes during some of the talks and share them here:
In-depth research: The subtle relationship between BTC spot ETF and CME's huge short positions
It is no exaggeration to say that the current BTC futures market is not controlled by traditional cryptocurrency exchanges and retail investors, but has fallen into the hands of professional institutional traders in the United States.
Can Bitcoin Be a Productive Asset?
As the Bitcoin market matures and various income products emerge, people are beginning to think about how to promote the financialization of Bitcoin while maintaining its native characteristics. From Bitcoin's native consensus, assets to income, this article discusses different categories of Bitcoin income products and emphasizes the importance of localized design in reducing trust dependence and counterparty risk.
