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
US SEC approves BlackRock’s Bitcoin spot ETF options trading
According to financefeeds, the US SEC approved the listing of options products for BlackRock iShares Bitcoin ETF (IBIT) on Nasdaq. The trading of this derivative still requires the approval of the Office of the Comptroller of the Currency (OCC) and the Commodity Futures Trading Commission (CFTC). Nasdaq said that the trading platform will treat Bitcoin ETF options similarly to other ETF options, subject to the same rules and trading procedures. The SEC's notice stated that IBIT options will be physically settled in an American-style exercise method. This means that options can be exercised at any time before expiration.
Analyst: Bitcoin is approaching the end of a typical mid-cycle correction
Anonymous crypto analyst CryptoCon noted that BTC reached mid-cycle peaks in 2016 and 2020, followed by months of sideways trading before finally breaking out higher at the end of the year. Bitcoin's halving event occurs automatically every four years, reducing the issuance of new tokens by 50%, which is widely believed to affect Bitcoin's supply and create scarcity. This year, BTC peaked at $73,000 in March before falling back about 33% to a low in early August. CryptoCon noted that it is approaching the end of a typical mid-cycle adjustment. "Whether it is a cycle peak prediction or a recession prediction, everyone has reason to worry about the worst, while the cycle continues to proceed as expected. All signs point to a real bull market for Bitcoin in 2025," he added.
Standard Chartered: Bitcoin and the broader crypto market will continue to rise after the Fed cuts interest rates
Standard Chartered analyst Geoff Kendrick predicts that Bitcoin and digital assets will continue to rise after the Federal Reserve’s recent rate cut, driven more by favorable macroeconomic conditions than the results of the U.S. presidential election. “For the first time, digital assets have topped the list in terms of performance following the FOMC meeting. This is the case despite Polymarket showing Kamala Harris’ approval rating at 52/47 today,” Kendrick noted in an email on Thursday. He attributed the positive performance to macroeconomic drivers starting to overwhelm election-related uncertainty. Kendrick insisted that the U.S. presidential election is not as influential on Bitcoin prices as it used to be. “While the U.S. election is important, macro drivers are starting to take over,” he said, adding that he is monitoring the difference between short-term and long-term U.S. Treasury yields as an indicator of market conditions that are favorable for digital assets. “I look at the U.S. 2s10s curve, and a steeper U.S. yield curve is favorable for digital assets.”
Louisiana State Government Now Accepts Bitcoin Payments
According to Bitcoin Magazine, the Louisiana state government in the United States now accepts Bitcoin payments.
Trump pays for meal with Bitcoin for the first time at a New York bar
According to Fox News, former US President Trump used Bitcoin to pay for his meal for the first time at a bar in New York.
BlackRock: Bitcoin's characteristics may make it a hedging tool for risks that traditional assets cannot cope with
BlackRock released the report "Bitcoin: A Unique Diversifier", which analyzed the role of Bitcoin in the investment portfolio, especially emphasizing its potential as a unique asset for diversified investment. The main points are as follows: 1. Bitcoin is described as a "global, decentralized, non-sovereign asset with a fixed supply", which makes it fundamentally different from traditional financial assets. In its 15-year history, Bitcoin's adoption rate has continued to grow, but due to its high volatility and relatively short history, discussions about its role in the portfolio continue. 2. Low-correlation assets: Bitcoin's long-term performance shows low correlation with stocks and bonds, which makes it attractive for diversified investment. Although in the short term, Bitcoin's price movements occasionally synchronize with traditional risky assets, these are considered temporary phenomena. 3. Volatility and risk: Bitcoin is considered a risky asset because of its high volatility and susceptibility to regulatory changes, market sentiment and technological development. However, these risks are unique to Bitcoin, and its decentralized nature protects it from many macroeconomic forces that affect traditional assets. 4. Long-term value: The article emphasizes that as global monetary instability, fiscal sustainability, and geopolitical tensions increase, the value of Bitcoin may grow. Its fixed supply and decentralized, borderless nature may drive future demand. 5. Impact on portfolios: When Bitcoin is included in a portfolio at a moderate proportion, it has shown the potential to enhance diversified investment. However, a larger proportion of allocation may significantly increase the volatility of the portfolio. The report's conclusion reiterates that Bitcoin's unique characteristics may make it a hedging tool for risks that traditional assets cannot cope with, especially in the context of increased geopolitical and economic uncertainty.
Ethereum
The Ethereum Foundation has sold a total of 3,466 ETH so far this year
According to Lookonchain monitoring, the Ethereum Foundation sold another 300 ETH ($763,000) 4 hours ago. Since January 1, 2024, the Ethereum Foundation has sold a total of 3,466 ETH ($9.67 million) at an average price of $2,791, an average of once every 11 days, and an average of 151 ETH ($421,000) each time.
Vitalik: Ethereum’s key goal for the next decade is to meet mainstream adoption while maintaining open source and decentralized value
Golden Finance reported live that Ethereum founder Vitalik delivered a keynote speech titled "What Excites Me About the Next Decade" at Token2049 held on September 18. In his speech, Vitalik said that the main goal of Ethereum in the next decade is to meet mainstream adoption while maintaining open source and decentralized value. Vitalik also cited 6 examples to illustrate, namely: 1. Wallet security; 1.5. Decentralized social media user experience; 2. Payment; 3. Privacy tools; 4. zk social media; 5. Ethereum L1 (Oribit SSF, Verkle Tree/stateless Validation, solving the MEV problem, Ethereum L1 ZK-SNARK and light client).
Ethereum Pectra upgrade confirmation is divided into two executions
Ethereum developers have confirmed that the hard fork Pectra will be split into two parts to minimize the risk of mistakes or errors. Pectra is expected to be Ethereum's largest hard fork to date. The core developers decided to include a total of 8 Ethereum Improvement Proposals (EIPs) in the first package, including EIP-7702, which aims to improve the user experience of wallets. The second package will be modified in the coming months, but for now it may include proposals aimed at changing the Ethereum Virtual Machine (called EOF) while introducing a feature called PeerDAS that improves data availability sampling, ultimately benefiting L2 blockchains.
Steno Research: ETH's decline is over, interest rate cuts are good for Ethereum
Ethereum (ETH)'s recent underperformance may be over, and ETH may shine again, both in terms of fiat and BTC exchange rates, Steno Research said in a report on Thursday. The report pointed out that ETH rose sharply during the last round of altcoin season, and the ETH/BTC exchange rate rose more than 1 times in less than two months. This shift was triggered by a surge in on-chain activity, including decentralized finance (DeFi), stablecoin issuance, and the boom of non-fungible tokens (NFTs), all of which mainly occurred on the Ethereum blockchain. The increase in on-chain activity caused by the Fed's rate cut earlier this week will greatly benefit Ethereum.
Vitalik: The Story of Ethereum will be available on on-chain streaming for 30 days and will be available on mainstream platforms in 2025
The documentary "Vitalik: An Ethereum Story" was released on the on-chain streaming platform ethereumfilm on Wednesday and will be broadcast for 30 days. The film records the story of Ethereum founder Vitalik Buterin and his community's struggle for an open Internet, and interviews Vitalik, his family, and several technical experts. The film raised 1,036 ETH (about $2.6 million) through crowdfunding and is scheduled to be broadcast on mainstream streaming platforms in 2025. The sponsor is Ethereum Layer 2 solution Base.
Other Projects
WisdomTree Launches WisdomTree Connect for Enterprises and Institutions to Advance RWA Development
Asset management company WisdomTree has launched WisdomTree Connect for businesses and institutions to promote the tokenization of real-world assets (RWA). Users will be able to hold WisdomTree tokenized funds in their own digital wallets, which can be self-custodied or kept in a third-party custodian. Investors can purchase fund tokens using US dollars or Circle's USDC stablecoin. WisdomTree Connect will initially mint tokens on the Ethereum blockchain, but more blockchains will be added over time.
Former Coinbase employee launches cryptocurrency platform TrueX and raises $9 million
Two former senior employees of Coinbase Global Inc. are launching a cryptocurrency platform called TrueX that will use PayPal Holdings Inc.'s stablecoin as its preferred trading token. Prior to co-founding TrueX, Vishal Gupta was the head of exchange at Coinbase. He oversaw the launch of the USDC stablecoin during his tenure at Circle Internet Financial Ltd. Patrick McCreary previously worked as a senior engineer at Coinbase. Both worked at Goldman Sachs Group. In addition, Paxos was one of the investors who participated in the startup's seed round of financing, and TrueX raised $9 million from venture investors such as RRE Ventures and Hack VC.
Hamster Kombat launches anti-cheat detection to protect ordinary players
Hamster Kombat posted on social media that it has launched anti-cheat detection, and some cheaters will unlock the "Cheating is Bad" achievement as early as today to convey an important reminder to cheaters. The official said that it hopes to protect players and community members who work hard to play the game and give them the opportunity to get a fair share of airdrops.
TON Foundation and Curve Finance Collaborate to Launch a New Stablecoin Swap Project Based on TON
The TON Foundation has announced a partnership with Curve Finance, which will jointly "incubate a new stablecoin exchange project based on TON" to improve user experience and stablecoin transactions on the TON blockchain. Curve's CFMM technology will enhance stablecoin exchange capabilities, aiming to achieve smoother transactions and reduce price impact.
Mocaverse and Magic Eden jointly launch MagicMoca NFT Launchpad
According to the official announcement, Mocaverse and Magic Eden will jointly launch MagicMoca NFT Launchpad, an NFT Launchpad platform designed specifically for the Mocaverse community to promote the release of game and IP NFT projects. MagicMoca will use MOCA Coin as the main currency for its sales activities, while Magic Eden will accept MOCA Coin as one of the preferred currencies for its market transactions. In addition, Magic Eden will fully integrate Mocaverse products, enabling Moca ID users to participate in NFT releases and build their on-chain reputation through NFTs.
