Headlines
▌Bitcoin's hash rate hits an all-time high
According to Bitcoin.com, on Friday, October 25, 2024, Bitcoin's network hash rate surged to an all-time high of 736.81 EH/s, bringing Bitcoin closer to the anticipated Zeta Hash era.
▌BlackRock's Bitcoin holdings have exceeded 400,000 BTC
According to Lookonchain monitoring, BlackRock's Bitcoin holdings have exceeded 400,000 BTC, reaching 403,725 BTC (valued at $26.98 billion). In the past two weeks, BlackRock purchased 34,085 BTC ($2.3 billion).
Market trends
As of the time of writing, according to Coingecko data:
BTC's recent transaction price is $66,905.74, with a daily fluctuation of +0.6%;
ETH's recent transaction price is $2,471.39, with a daily fluctuation of +1.4%;
BNB's recent transaction price is $581.88, with a daily fluctuation of +1.0%;
SOL's recent transaction price is $170.48, with a daily fluctuation of +3.8%;
DOGE's recent transaction price is $0.1363, with a daily fluctuation of +3.1%;
XPR's recent transaction price is $0.5122, with a daily fluctuation of +1.1%.
Policies
▌The Central Bank of Brazil emphasizes the tokenization potential to the International Monetary Fund and the World Bank.
The Central Bank of Brazil supports tokenization and 'open finance' as key elements of the future financial system. In a panel report from the International Monetary Fund and the World Bank, the bank's president Roberto Campos Neto stated that people underestimate the intersection between the two. Campos Neto emphasized the relevance of tokenization to the concept of bank balance sheets and operational efficiency, stating that banks will gradually shift from viewing balance sheets based on accounts to those based on 'tokens,' which they believe will greatly improve efficiency and productivity. Tokens are more suitable for banks to manage risk, manage collateral, and finance.
Blockchain applications
▌Coinbase launches on-chain AI agents based on Ethereum L2
Coinbase announces the launch of a new set of fully on-chain AI agents that can manage crypto wallets and interact with the blockchain on its Base network. Users can create these agents on Base in less than three minutes to perform financial transactions and participate in DeFi activities.
▌Ordinals founder: Version 0.21.2 fixes issues or causes rune loss
Ordinals founder Casey stated on the X platform that if users are sending runes using ord, they should upgrade to ord 0.21.2. This version fixes a somewhat serious bug where 'ord wallet send' would not create change outputs in certain cases, potentially leading to lost runes. This bug has been fixed in this version, and users are advised to upgrade.
Cryptocurrency
▌The total market value of stablecoins has fallen below $172.5 billion, with USDT's market share reaching 69.66%.
According to DefiLlama data, the current total market value of stablecoins is $172.457 billion, with a 7-day decline of 0.14%. In addition, the total market value of USDT is $120.131 billion, with a market share of 69.66%.
▌Mitsubishi UFJ Trust and Banking, Nomura Securities, and Daiwa Securities have proposed launching a cryptocurrency ETF in Japan.
Brokerage firms such as Mitsubishi UFJ Trust and Banking, Nomura Securities, and Daiwa Securities, as well as cryptocurrency exchanges like BitFlyer and Bitbank, have proposed launching a cryptocurrency ETF in Japan focused on Bitcoin and Ethereum.
▌Non-institutional investors or 'retail investors' account for 80% of Bitcoin ETF demand.
The latest report from Binance Research found that non-institutional investors or 'retail investors' account for 80% of Bitcoin ETF demand.
An independent miner mined the 867,118th block, earning a block reward of 3.329 BTC
An independent Bitcoin miner mined the 867,118th block, earning a block reward of 3.329 BTC, currently valued at $221,690.
▌Billionaire Chamath: Bitcoin will become the most important inflation hedge asset in the next 50 to 100 years
Billionaire Chamath Palihapitiya stated that Bitcoin will become the most important inflation hedge asset in the next 50 to 100 years. We see people still using gold as a rational economic insurance policy, but the future will definitely belong to Bitcoin.
▌In the past week, USDC circulation decreased by about $300 million, bringing the total circulation down to $34.4 billion.
According to official data, as of October 24, Circle has issued approximately $1.7 billion USDC in the past 7 days, redeemed approximately $2 billion USDC, and the circulation has decreased by about $300 million. The total circulation of USDC is $34.4 billion, with reserves of $34.6 billion, including about $4.1 billion in cash, and the Circle Reserve Fund holding approximately $30.5 billion.
▌The U.S. Bitcoin spot ETF has purchased $30 billion worth of BTC in the past 10 months
According to HODL15 Capital monitoring, there are still 1,227,507 BTC left to be mined, valued at about $80 billion. Additionally, the U.S. Bitcoin spot ETF has purchased $30 billion worth of BTC in the past 10 months.
Important economic dynamics
▌European Central Bank Governing Council member Knot: The market has anticipated the interest rate cut path in advance, and it needs to be observed in December whether this is overly optimistic.
European Central Bank Governing Council member Knot stated that more confidence is needed to see wages decline as expected, and the labor market remains tight. The market has anticipated the interest rate cut path in advance, and it needs to be observed in December whether this is overly optimistic.
▌Trump proposes abolishing federal income tax and replacing revenue sources with import tariffs
In a recent episode of The Joe Rogan Experience, former President Trump stated that he is seriously considering abolishing federal income tax in the U.S. and replacing it with import tariffs as a revenue source. Trump pointed out that the tariff policies of former U.S. President William McKinley in the 1890s brought great prosperity to the nation and believes that the same policies should be adopted today to fund the government. Trump told Rogan that tariffs generated so much revenue that government officials didn't know how to spend it: 'We are too rich. We have so much money. We don't know what to do, so they set up a blue ribbon. The Tariff Commission. The only purpose is to figure out what to do with all our money.'
Golden Encyclopedia
▌What is dynamic re-sharding?
Dynamic re-sharding is a relatively new term, which the marketing team of Near Protocol calls the 'holy grail of sharding,' but it also creates a new vocabulary that is not immediately understandable. Based on the concept of blockchain sharding, re-sharding occurs when the network adjusts the number of shards based on load. Overloaded shards can split into two shards, while two under-utilized shards can combine into one.
Disclaimer: Golden Finance, as a blockchain news platform, provides articles for information reference only and does not constitute actual investment advice. Please establish a correct investment concept and be sure to raise risk awareness.
