Headlines
10.6 million Bitcoins have not been transferred in more than two years
According to HODL15Capital monitoring data, 4.33 million bitcoins have not been transferred for more than 7 years, and 10.6 million bitcoins have not been transferred for more than 2 years.
▌Cyber Capital founder: The credibility of Tether's "transparency page" data is questionable, and its team background is worrying
Justin Bons, founder of Cyber Capital, posted on the X platform that Tether's transparency is questionable and the credibility of its "Transparency Page" data is questionable. The background of the Tether team is worrying, and the founding members have been involved in scandals such as Ponzi schemes and gambling cheating. In addition, Tether is closely related to Bitfinex, and Bitfinex's partner bank Crypto Capital was once seized for money laundering. These factors have led to Tether being accused of market manipulation and even affected the rationality of the market. Tether's market manipulation suspicions have exacerbated concerns about the cryptocurrency field, exposing serious internal corruption and conflicts of interest. Bons finally called for vigilance against Tether and the search for more reliable stablecoins.
Quotes
As of press time, according to Coingecko data:
BTC's latest transaction price is $60,224.84, with a daily change of -0.3%;
ETH's latest transaction price is 2,424.75, with a daily change of -0.2%;
BNB's latest transaction price is $555.31, with a daily change of -0.3%;
SOL's latest trading price is $137.71, with a daily change of -1.1%;
DOGE’s latest trading price is $0.1059, with a daily change of -1.2%;
XPR recently traded at $0.5906, with a daily change of +2.1%.
policy
▌U.S. Senators urge top 10 Bitcoin ATM companies to address crypto scams targeting seniors
On September 15, seven Democratic senators in the United States recently sent a letter to the country's 10 largest Bitcoin ATM operators, urging them to address cryptocurrency scams targeting older Americans. The letter was sent to Athena Bitcoin, Bitcoin Depot, Bitstop, Byte Federal, Cash2bitcoin, Coinflip, Coinhub, Margo, Rockitcoin and Unbank. The letter stated: "We call on you to take immediate action to address the problem that Bitcoin ATMs (BTMs) are facilitating widespread financial fraud targeting older Americans." The lawmakers said that cryptocurrencies like Bitcoin "have long been associated with criminal activities" and "the relative anonymity and irreversibility of cryptocurrency transactions make them particularly attractive to scammers." The letter also cited data from the Federal Bureau of Investigation (FBI) and the Federal Trade Commission (FTC). From 2020 to 2023, losses caused by BTM scams soared from $12 million to $114 million. It added that older people are "more than three times more likely to report losses using BTMs than young people." The senators asked the companies to take stronger steps to prevent scams and ensure their cryptocurrency ATMs are not misused, giving the companies until Oct. 4 to provide details of their current measures.
Blockchain Applications
▌Solana Ecosystem Edge Computing Open Layer Gradient Network Completes New Round of Financing, with Pantera Capital and Others Participating
Gradient Network, the open layer of Solana's ecological edge computing, announced the completion of a new round of financing, with participation from Pantera Capital, Multicoin Capital, Sequoia Capital, etc. The specific amount of financing and valuation data have not been disclosed yet. The new funds will be used to promote its decentralized protocol and transform computing power and staking solution development in blockchain networks. Currently, Gradient Network has achieved liquidity staking and seamless connection between Ethereum, Solana and TAO networks. Its platform can use edge computing to support decentralized clouds, provide accessible and affordable AI-driven solutions for content delivery, and allow serverless functions and AI reasoning.
▌Bitfarms launches 2.2 EH/s mining machine hosting agreement ahead of schedule, but is opposed by Riot Platforms
Bitfarms announced that its 2.2 EH/s mining machine hosting agreement with Stronghold Digital Mining will be brought online in October 2024, two months earlier than originally planned. The agreement will enable Bitfarms to add 10,000 Bitmain T21 miners to its Panther Creek facility in Pennsylvania. Bitfarms CEO Ben Gagnon said the facilities will help the company expand its business, reduce electricity costs, and enter the energy trading and AI fields. In addition, Bitfarms' Stronghold acquisition plan has sparked strong opposition from its largest shareholder, Riot Platforms. Riot called for reforms to the Bitfarms board of directors and questioned the value of the Stronghold acquisition, believing that the transaction would dilute shareholder interests. Bitfarms responded that Riot's proposal was in its own interest and insisted that the acquisition of Stronghold was a strategic move to optimize its US business.
Cryptocurrency
▌More than 50,000 BTC flowed out of exchange wallets in the past 7 days
According to the latest data, 9119.17 BTC have flowed out of exchange wallets in the past 24 hours, 50024.32 BTC have flowed out of exchange wallets in the past 7 days, and 111373.42 BTC have flowed out of exchange wallets in the past 30 days. As of press time, the total balance of exchange wallets is 2,338,018.46 BTC.
The total market value of cryptocurrencies is currently $2.189 trillion
According to Coingecko data, the total market value of cryptocurrencies is currently $2.189 trillion, with a 24-hour increase of 0.9%. In addition, BTC's market share has risen to 54.1%, ETH's market share is 13.3%, and Ethereum's gas fee is 2.15GWEI.
▌Ethereum maintains 35% share of the DEX market, while competitors such as Solana are catching up
Ethereum (ETH) continues to dominate among decentralized exchanges (DEXs), accounting for nearly 35% of the market, according to IntoTheBlock. Despite the recent pressure on Ethereum’s price, its network activity and adoption in the DeFi space remains strong. At the same time, blockchain networks such as Solana, Arbitrum and BNB Chain are growing rapidly and gradually challenge Ethereum’s market position. Among them, Solana’s trading volume has increased significantly, showing its increasing importance in the DEX market. Arbitrum and BNB Chain are also increasing their market share, reflecting the increasing competition in the DeFi space.
▌After a Norwegian town banned Bitcoin mining, electricity bills surged by $300 per household
Dennis Porter, co-founder of Satoshi Action Fund, said on the X platform that after a town in Norway banned Bitcoin mining, the electricity bill per household increased by $300, an increase of more than 25%. After the ban was implemented, the decline in electricity demand in the area caused the remaining users to bear higher electricity costs to make up for the loss of income caused by the withdrawal of mining companies. This change has raised concerns about the cost sharing of power infrastructure.
▌Circle CEO claims the U.S. is becoming a “decisive leader” in cryptocurrency
Jeremy Allaire, CEO of stablecoin issuer Circle, wrote in an X post on Friday that the United States is at a "turning point" in the cryptocurrency sector and is about to become a "decisive leader" in nurturing the technology. Allaire said that many people "complain" that the US government is hostile to the cryptocurrency industry. However, Allaire does not agree with this view, and he is not the only one who holds this view.
▌The total market value of stablecoins has returned to above $170 billion, and the market value of USDT exceeds $118.6 billion
DefiLlama data shows that the total market value of stablecoins has returned to above $170 billion, currently at $170.683 billion, with a 7-day increase of 0.69%. In addition, the total market value of USDT is now $118.609 billion, with a market share of 69.49%.
Important economic developments
▌Next week's outlook: The Federal Reserve leads the "Super Central Bank Week", Powell holds a monetary policy press conference
According to Golden Ten, after the U.S. CPI report was released earlier this week, the market almost believed that the Federal Reserve would slightly cut interest rates by 25 basis points this month, but the situation reversed sharply from Thursday. At that time, former New York Fed President Dudley said that the Fed had reason to cut interest rates by 50 basis points next week. A reporter from the Wall Street Journal known as the "Fed News Agency" and the Financial Times also reported that the Fed was faced with whether to cut interest rates by 50 basis points or 25 basis points. After making a difficult decision, the market's bets on the Federal Reserve's sharp interest rate cut next week have significantly increased to "50-50". There will be many key events next week: Monday 20:30, the U.S. New York Fed Manufacturing Index in September; Tuesday 20: 30, US retail sales monthly rate in August; Wednesday 14:00, UK August CPI monthly rate, UK August retail price index monthly rate; Thursday 2:00, the Federal Reserve announced interest rate resolution and summary of economic expectations; Thursday 2: 30, Federal Reserve Chairman Powell held a monetary policy press conference; Thursday 20:30, the number of initial jobless claims in the United States for the week to September 14, the United States Philadelphia Fed Manufacturing Index in September; Friday 11:00, the Bank of Japan announced Interest rate decision; At 14:30 on Friday, Bank of Japan Governor Kazuo Ueda held a monetary policy press conference.
Golden Encyclopedia
What is the Ethereum Prague-Electra (Pectra) upgrade?
Ethereum’s Pectra upgrade combines two separate upgrades: the Prague upgrade and the Electra upgrade. The Prague upgrade focused on changes to the network’s execution layer, while the Electra upgrade affects the consensus layer. These upgrades are collectively referred to as the “Pectra” upgrade when combined. The Pectra upgrade will follow “Dencun,” a merger of the Deneb and Cancun upgrades in March 2024. Technically, Dencun is an Ethereum hard fork designed to reduce transaction fees for Layer 2 solutions. Pectra is a new milestone on the Ethereum development roadmap and is scheduled to go live in Q1 2025. This timeline allows for the inclusion of additional features to improve the Ethereum user experience (UX).
Disclaimer: As a blockchain information platform, Golden Finance publishes articles for information reference only and is not intended as actual investment advice. Please establish a correct investment philosophy and be sure to raise your risk awareness.
