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
Trump: I hope all remaining Bitcoins are made in the U.S.
Former US President Donald Trump said he hopes all remaining Bitcoin will be made in the United States. Golden Finance previously reported that several Bitcoin miners met with former US President Donald Trump at Mar-a-Lago on Tuesday night. Trump told the attendees that he loves and understands cryptocurrencies, adding that Bitcoin miners help stabilize the energy supply of the power grid. Trump said he would speak for miners at the White House.
US Congressman Thomas Massie to Introduce Bitcoin-Inspired Bill to End Federal Reserve
According to Bitcoin Magazine, U.S. Congressman Thomas Massie said that after reading the book "The Bitcoin Standard", he decided to propose a bill to terminate the Federal Reserve.
Several Hong Kong brokerage apps have begun to provide Bitcoin trading services, requiring the signing of four documents including an additional risk disclosure statement
Hong Kong brokerage firms are planning to provide trading services for virtual assets such as Bitcoin. Currently, brokerage firms such as Victory Securities, Tiger Securities, and Interactive Brokers have launched corresponding services. Investors can trade virtual assets such as Bitcoin on brokerage APPs. Some brokerage firms have stated that income related to virtual assets may account for about a quarter of the company's income. It is reported that investors who want to trade virtual assets such as Bitcoin on Hong Kong brokerage APPs need to open a virtual asset account and complete the opening of a personal securities account or a company securities account. After completion, they need to fill in and sign four documents in electronic or paper forms: Additional Agreement for Virtual Asset Trading, Additional Risk Disclosure Statement for Virtual Assets, Risk Tolerance Questionnaire, and Virtual Asset Knowledge and Experience Questionnaire.
The listing of spot ETFs has caused Coinbase's Bitcoin reserves to decline rapidly since February
CryptoQuant disclosed on the X platform that the listing of Bitcoin spot ETF has caused the Bitcoin reserves of Coinbase exchange to decline rapidly since February. Data shows that on February 18, 2024, Coinbase's Bitcoin reserves were approximately 1,044,997 BTC, but now the indicator has been reduced to 878,000, a decrease of approximately 167,000 Bitcoins.
DACFP founder: US financial advisors are beginning to accept Bitcoin
Ric Edelman, founder of the Digital Asset Financial Professionals Council (DACFP), said that U.S. financial advisors are now more willing to include Bitcoin in their portfolios because they see data showing an increase in risk-adjusted returns. Ric Edelman said that in the past three months, the number of financial advisors willing to include BTC in their portfolios in the next year has increased by 80%, thanks to the listing of the spot Bitcoin ETF in January and the entry of asset management giant BlackRock.
Ethereum
Financial lawyer: Spot Ethereum ETF may be approved as early as the end of July
Financial lawyer Scott Johnsson said on the X platform that there were no S-1 comments from the SEC this week. The SEC may handle the spot Ethereum ETF according to normal procedures (not accelerated). According to normal procedures, I think it will be launched at the end of July at the earliest. If it is later, it depends on the scope of the comments and the expected number of comment rounds.
The average daily number of NFT traders on the Ethereum chain fell below 4,000 for the first time since June 2021
Monthly NFT market volume on Ethereum has been declining since January, and even in January, volume still pales in comparison to the billions of dollars in monthly volume during the 2021/2022 bull run. In May, volume did not even exceed $500 million. In addition, data shows that the average daily number of NFT traders on the Ethereum chain has fallen below 4,000 for the first time since June 2021. In February 2022, the indicator peaked at more than 80,000 and has been declining since then, although the number of users remained flat from June 2023 to February 2024, but then began to slowly decline again.
Vitalik proposes several suggestions for expanding the functions of cryptocurrencies in response to the phenomenon that meme coins continue to dominate narratives
In response to the phenomenon that Meme coins continue to dominate the narrative, Ethereum co-founder Vitalik Buterin proposed several directions for expanding and improving the functionality and scope of cryptocurrencies: 1. zk reputation/identity/credentials; 2. p2p cross-border payments (lower fees and user experience rapidly improving in this cycle); 3. Decentralized social networking; 4. Prediction markets (actually available in this cycle); 5. Privacy; 6. Enterprise applications achieved through zk validiums; 7. zk+ censorship-resistant voting.
Vitalik Buterin: Looking forward to more L2 joining the stage1 L2 club
Vitalik Buterin said in a post on Warpcast: “We welcome Optimism to join the L2 club with stage 1, and look forward to more L2s, especially those based on zero-knowledge proofs, joining.”
Ethereum Futures Funding Rates Still Higher Than 2023 Bear Market, Indicates Potential Volatility
Glassnode data shows that Ethereum futures funding rates are still higher than the 2023 bear market, indicating that the market may be volatile and far below the 2021 peak. This dynamic illustrates the complex interaction between futures funding rates and underlying market trends, and also indicates that the market may be volatile. The Ethereum futures perpetual contract funding rate refers to the average funding rate (in %) set by the exchange for perpetual futures contracts. When the rate is positive, long positions pay short positions regularly. Conversely, when the rate is negative, short positions pay long positions regularly. A surge in funding rates usually coincides with Ethereum price fluctuations, indicating a change in market sentiment.
other projects
Floki: Launching decentralized domain name service on BNB Chain mainnet
FLOKI domain name service is now online, but it is currently only available on the BNB Chain mainnet. It is reported that the domain name service is Floki's decentralized domain name service, allowing anyone to create a decentralized .floki domain name. Holders can use .floki domain names to launch decentralized websites, blogs or resumes, as well as integrate with dApps including Trust Wallet, SafePal, PancakeSwap, OKX Wallet, etc. Floki domain name service exclusively uses FLOKI as its main payment token.
Binance Labs invests in Ethereum layer 2 network developer Zircuit
Binance Labs has invested an undisclosed amount in Zircuit, an Ethereum layer 2 network developer. Zircuit is a zero-knowledge rollup with “AI-enabled sequencer-level security,” Binance Labs said on Tuesday. The company added that its investment will help Zircuit further develop and grow its network.
Etherscan launches new browser address information sharing function Etherscan Cards
Ethereum browser Etherscan Cards announced the launch of a new feature, Etherscan Cards, which allows trusted third parties in the Ethereum ecosystem to share useful information about addresses directly on the browser. It is reported that Etherscan will first cooperate with a small number of partners, giving priority to those with a good reputation and relevant use cases. The first partner is GoPlus Security, which has added a new token security detection function.
Bakkt to Launch Crypto Electronic Communications Network Powered by Crossover Markets
Bakkt, a digital asset company under the Intercontinental Exchange (ICE), announced that it will use Crossover Markets to help support the upcoming crypto electronic communications network (ECN) "BakktX" to meet institutional needs. The network can provide institutions and professional traders with matching delays of less than 10 microseconds, customizable and tailored liquidity streams, and much lower transaction costs than existing cryptocurrency brokers and exchanges.
Solana Co-founder: Increasing competition among block producers may be a potential solution to the MEV problem
Solana co-founder Anatoly Yakovenko wrote on X that a realistic way to solve MEV might be to maximize competition among existing block producers and let users choose which block producer they want to package their transactions. Yakovenko said that this is still an engineering problem, but it is not impossible to achieve. The more block producers scheduled per second, the shorter the time users have to wait for the best packaging offer. Reducing block intervals, parallel processing, faster node rotation, etc. can improve this situation. The market will make choices on these issues, and it is important that users need to be willing to submit their transactions to this type of block auction.
