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

IntotheBlock: More than 89% of Bitcoin holders are profitable

According to IntotheBlock data, among the top cryptocurrency projects ranked by percentage of holder profits, Bitcoin still dominates, with more than 89% of holders making a profit. Ethereum follows closely behind, with 83.19% of holders making a profit, and the launch of the Ethereum ETF may be the boost it needs to reach new highs. Memecoins also stand out, with a high percentage of holders making a profit among the top memecoins.

Gemini co-founders Winklevoss twins each donated $1 million in Bitcoin to Trump campaign

Cameron Winklevoss and Tyler Winklevoss, co-founders of Gemini, said in a statement that they have donated $1 million in Bitcoin (15.47 BTC) to Trump's campaign and will vote for him in the November election. Cameron Winklevoss said in the article: "Trump supports Bitcoin, supports cryptocurrency, and supports commercial enterprises. He will end the Biden administration's war on cryptocurrency."

Santiment: Bitcoin faces ‘constant FUD’ on social media platform X

According to Santiment data, Bitcoin is facing "persistent FUD" on social media platform X during its sideways trading at the $65,000 mark. This level of sustained FUD is rare as traders continue to capitulate. In addition, its weighted sentiment index (an indicator that measures the volume of Bitcoin mentions on X and compares the ratio of positive and negative comments) has been negative since May 23. It is reported that FUD stands for fear, uncertainty and doubt.

Bloomberg analyst: The potential size of spot Bitcoin ETFs in the Asia-Pacific region will reach $3 billion

Bloomberg analyst James Seyffart said on the X platform that VanEck's debut of a spot Bitcoin ETF on the Australian Stock Exchange this week could help bring $1 billion in assets under management to Australian digital asset ETFs (equivalent to $72 billion in the United States). Add to that our expected $1 billion in Hong Kong and $1 billion in South Korea, and the potential size of the Asia-Pacific region will reach $3 billion.

Transaction fees dominate Bitcoin miners’ revenue

According to data from Glassnode, Bitcoin miner revenue sources are changing significantly and are primarily driven by transaction fees. In early 2024, the proportion of miner revenue that came from transaction fees peaked at nearly 72% in April and then stabilized at a lower level. This change is related to the launch of Runes during the halving, indicating an increase in transaction processing needs. Historical data shows that surges in fee revenue are often associated with price fluctuations or network activity. Recent trends suggest that miners can profit from transaction fees when Bitcoin price and network activity increase, underscoring the critical role of transaction fees in miner revenue. Understanding these trends is important for predicting the financial health of miners and the economics of the network.

Ethereum

Ethereum Scaling Ecosystem’s Combined TPS Hits All-Time High

Due to the sudden surge in Ethereum Layer3's TPS, the Ethereum ecosystem's transactions per second (TPS) has surged to an all-time high. 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 an estimated 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 powered by Offchain Labs. Before June 10, Xai's TPS hovered around 1 per day, but it has been rising almost every day since then, reaching a peak of 101.72 TPS on June 16.

Ethereum EIP-7702 proposal faces challenges

The EIP-7702 proposal proposed by Ethereum co-founder Vitalik Buterin was included in the next upgrade "Pectra", but developers have not yet finalized the details. The proposal allows externally owned accounts (EOA) to temporarily act as smart contracts in a single transaction, enhancing flexibility and security. At a recent core developer meeting, the integration challenges and potential risks of EIP-7702 were discussed. Developers unanimously agreed to resolve these issues before the next meeting on July 4 to ensure its timely implementation into the development testnet. Ethereum's next major upgrade is expected to go live between November 2024 and early 2025.

Bitwise, VanEck, Franklin and other 7 spot Ethereum ETF applicants have submitted updated versions of their S-1 documents

According to Watcher.Guru, seven spot Ethereum ETF applicants have submitted updated versions of their S-1 documents, including: Bitwise, Fidelity, VanEck, Franklin, 21Shares, Grayscale, and BlackRock. In addition, Franklin set its fees at 0.19% last month, and VanEck announced on Friday that it would set its fees at 0.2%. Other issuers have not yet announced their fees.

SEC Closes Ethereum 2.0 Investigation, Won’t Allege Securities Transactions in Ethereum Sales

Consensys announced on social media X that Ethereum developers, technology providers and industry participants have achieved a major victory. The U.S. SEC Enforcement Division has notified us that it will close its investigation into Ethereum 2.0, which means that the SEC will not charge that the sale of Ethereum is a securities transaction.

The number of long-term Ethereum holders hits a new high

Ethereum's HODL Waves chart shows a clear concentration of Ethereum held for 1 to 3 years, indicating that a large amount of Ethereum acquired during the 2021-2022 period is still being held. The 1-2 year and 2-3 year ranges reflect these holdings, which account for a large portion of the total supply. This holding pattern shows that investors are confident in the long-term value of Ethereum, and a considerable number of investors choose to retain their Ethereum holdings rather than sell them due to market fluctuations, while the proportion of Ethereum held for less than six months has declined. In addition, the proportion of Ethereum held for more than 7 years has increased, which represents the stability of long-term holders and shows their firm belief in the fundamental value and future growth potential of Ethereum.

other projects

Osmosis to Adopt ‘Free’ Bitcoin Bridge via Nomic

The Osmosis DAO will vote to adopt a "fee-free" Bitcoin bridge proposal using decentralized bridge protocol Nomic. Currently, 91.7% of voters support the proposal, which aims to enhance Bitcoin liquidity on the platform by eliminating existing bridge fees. Nomic allows users to deposit Bitcoin directly into Osmosis to obtain its Bitcoin-backed asset nBTC, with the existing deposit fee of 1% and transfer fee of 0.5%. If the proposal passes, Bitcoin bridge fees on Osmosis will be waived, but Bitcoin mining fees may still be charged. In exchange, Nomic will receive a portion of the fees of nBTC and its derivatives transactions, specifically 10% of the total fees of nBTC-related transactions and a proportional share of the fees of its derivatives transactions. Osmosis users will therefore benefit from reduced Bitcoin transaction costs and be able to directly integrate Bitcoin liquidity into the Osmosis ecosystem.

Sui mainnet upgraded to V1.27.2, protocol upgraded to version 49

The Sui mainnet has been upgraded to version V1.27.2, and the Sui protocol has been upgraded to version 49. The upgrade highlights include: adding a new protocol version and enabling the Move enumeration on the development network, adding support for Move enumeration values ​​in the returned JSON-RPC results, adding support for Move enumeration values ​​and types, adding the ability to write Move unit tests using randomly generated raw Move type test inputs, etc., and disabling the accum v2 testnet cp.

Pantera Capital: Solana is the Mac OS of blockchain

Pantera Capital said in its report that Solana is the Mac OS of blockchain. It said in the report that Solana has gained significant market share in the past year, a shift reminiscent of Microsoft's dominance in the early desktop computer market until Apple made a breakthrough through its vertically integrated approach. Solana is now a major competitor in the future of blockchain development. Solana's overall architecture has a product roadmap that focuses on optimizing each component of its own blockchain, similar to Apple's approach to vertically integrating hardware and software stacks in macOS.

ZKsync: The network is currently under high load and is working to increase RPC capacity

ZKsync said that the network is currently under high load, some RPC services may experience performance degradation, and the relevant team is working hard to increase RPC capacity.

Cosmos officially announces new cross-chain protocol ValenceZone

According to Cosmos official news, the new cross-chain protocol ValenceZone was launched. Valence can complete inter-chain collaboration without permission, allowing chains, dApps and DAOs to participate in economic relations. Valence expands the scope of IBC cross-chain and makes economic agreements possible, such as adjusting funding composition or lending POL according to market conditions.