According to asset management firm Grayscale’s Q4 2024 Insights report released yesterday, the firm assessed Ethereum’s year-to-date performance and updated its research arm’s top 20 watch list.

Ethereum performed well

Grayscale noted in the report that although Ethereum has lagged behind Bitcoin this year, with a gain of 13%, it still outperformed most cryptocurrency assets.

“Our Cryptocurrency Sector Market Index (CSMI) – which measures returns across the asset class – is down about 1% this year. In fact, excluding Ethereum, the Smart Contract Platforms Sector Index is down about At 11%, this means that Ethereum also performs better than other assets in its market sector.”

Markus Thielen, founder and head of research at digital asset research agency 10x Research, believes that with Bitcoin regaining its price of $65,000, the possibility of a rebound in the much-anticipated fourth quarter of the cryptocurrency market is very high, and the gains may be will be realized in advance.

In a report published on Thursday, Thielen said that FOMO sentiment has returned to the altcoins market, fueled by Bitcoin's breakthrough of $65,000, and "a major rally may be coming, which will cause turmoil in the entire cryptocurrency field." Greater FOMO".

QED Protocol and Nexus, a development team focused on blockchain execution layers and modular virtual machines (VMs), announced on Thursday that they are jointly building a zero-knowledge VM for the Dogecoin network. , zkVM), hoping to derive decentralized finance (DeFi) and NFT applications based on Dogecoin.

The two teams plan to modify the Nexus zkVM to improve Dogecoin’s scalability and enable developers to create decentralized applications (dApps) on the network.

This collaboration will also expand the application scope of "OP_CHECKGROTH16VERIFY", an opcode proposed by QED Protocol in July to enable DeFi and NFT applications on the Dogecoin network, which involves an operation code that utilizes this opcode Established Layer 2 solution. The proposals have received support from major Dogecoin mining pools including AntPool, ViaBTC, and F2Pool.

Guggenheim Treasury Services, a unit of Wall Street giant Guggenheim Capital, has entered the blockchain space and issued $20 million worth of tokenized commercial paper on the Ethereum blockchain .

Guggenheim Treasury Services is one of the largest platforms in asset-based commercial promissory note (ABCP) management. It has issued and redeemed more than $10.3 trillion in ABCP over the past 27 years, according to company data.

According to reports, this product is the first digital version of commercial paper and has received the highest credit rating of P-1 from Moody’s. Commercial paper is a short-term, unsecured debt instrument used by companies to pay short-term obligations.

Billionaire Mark Cuban was recently interviewed by Fox News reporter Neil Caputo when asked if he would be willing to accept the position of Secretary of Commerce if the Harris Cabinet offered him the position. At the time, Mark Cuban responded:

"I would be the head of the SEC, that's what I want to do. Or the Department of Health and Human Services. I think someone should replace Gary Gensler."

Mark Cuban further criticized Gary Gensler for doing a terrible job, especially in cryptocurrency and all areas of business.

According to statistics from SoSo Value, the total net inflow of U.S. Bitcoin spot exchange-traded funds (ETF) yesterday (26th) was approximately US$366 million, showing net inflows for the sixth consecutive trading day.

Daily fund flows for U.S. Bitcoin spot ETFs (Source: SoSo Value)

The Bitcoin spot ETF with the largest net inflows yesterday was the ARKB fund jointly issued by Ark and 21Shares, with an amount of $113.8 million, followed by the IBIT fund issued by BlackRock with an amount of $93.38 million. Grayscale’s GBTC was the only Bitcoin spot ETF to post a net outflow yesterday, at $7.73 million.

According to Bloomberg, U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler said that the structure used by Bank of New York Mellon (BNY) to provide digital asset custody services is not limited to Bitcoin, which the bank is considering. and Ethereum exchange-traded funds (ETFs).

Earlier this week, BNY confirmed it had submitted a plan to the SEC's Office of the Chief Accountant to custody the two assets in a way that would protect customer funds in the event of a bank failure. The agency expressed "no objection" to the plan, regulatory language that frees the bank from worrying that its structure would violate SEC requirements that banks reflect the value of the digital assets under their custody on their balance sheets. BNY previously told Bloomberg that the SEC’s no-objection opinion addressed only the use case for ETFs.

According to Decrypt, South Korea’s financial regulator has warned that those who profit from cryptocurrency scams exceeding $4 million (approximately 5 billion won) will face life imprisonment.

South Korea’s Virtual Asset User Protection Act, enacted in July 2024, stipulates a series of strict measures to prevent cryptocurrency crimes. Lawmakers said the bill was partly inspired by the actions of South Korean cryptocurrency founder Do Kwon and the collapse of cryptocurrency exchange FTX.

Other measures stipulated in the Virtual Asset User Protection Act include fines of three to five times the amount for illegally profiting from cryptocurrency-related activities, as well as prison terms of up to one year.

Binance founder Changpeng Zhao (CZ) will be released from prison this week, and the legal official release date is the 29th (Sunday). However, according to Fortune Magazine, prisoners are generally released early if their release date falls on a weekend, so CZ is expected to be released early on Friday, local time. However, CZ's lawyer said he did not wish to be interviewed on the day of his release. Regarding Changpeng Zhao’s release, a Binance spokesperson responded:

“We are excited for CZ to be reunited with his family. Although he no longer manages or operates Binance, we are still excited about his next steps. Since last year, Binance has continued to grow under the leadership of the existing team, globally It has more than 229 million users.”

Ethena Labs, the company that issues the decentralized stablecoin USDe, announced on Thursday that it will partner with asset management company Blackrock and real-world asset tokenization company Securitize to launch a tokenized Treasury bond fund issued by Blackrock The new stablecoin supported by BUIDL is called UStb.

We are excited to announce Ethena's newest product offering: UStbUStb will be fully backed by @Blackrock BUIDL in partnership with @Securitize, enabling a separate fiat stablecoin product alongside USDeDetails below on why this is important: pic.twitter.com/jOIoMef7W3

According to an announcement updated by the Financial Supervisory Commission on Thursday, the company "Absolute Digital Co., Ltd." has been added to the list of virtual currency platform operators that have completed a compliance statement with money laundering prevention laws. It is understood that the company seems to be related to the NFT project ZombieClub .

ZombieClub is an NFT project jointly established by Hong Kong actor Shawn Yue and three senior blockchain people. The project publicly launched a pixel-style PFP (Personal Avatar Type) NFT series in March 2022. According to the industrial and commercial registration information of the Ministry of Economic Affairs, the company behind ZombieClub is called "Singapore Commercial Coin Co., Ltd. Taiwan Branch", and its person in charge is the same person as the person in charge of "Absolute Digital Co., Ltd." who recently completed the Anti-Money Laundering Statement of the Financial Supervisory Commission.

Social media giant Meta released its first augmented reality (AR) glasses Orion on Wednesday. The product has the look and feel of ordinary glasses, allowing users to wear them comfortably every day and share the experience with those around them. Its AR immersive capabilities allow all digital content to be seamlessly integrated with the user's view of the physical world.

Orion also integrates Meta AI, Meta’s artificial intelligence assistant, so that it can understand what users see in the physical world and provide practical visual information, such as real-time language translation. In addition, Orion allows users to make instant video calls with family and friends without holding their mobile phones.

原文：《Breaking Down Bittensor’s Network Effects》

Author: Seth Bloomberg (Messari Fellow)

Compiled by: Zombit

Messari researcher Seth Bloomberg recently published an article on X, detailing the network effects of Bittensor and the bottlenecks it may face in future development.

The following is a compilation of the original text:

Since there's been a lot of talk about Bittensor lately, I wanted to share my thoughts and some concerns about it.

Thanks to Saypien (former Messari executive) for a lot of discussion on this topic, and to Sami Kassab (former Messari researcher) who I know will be there to point out my mistakes here.

According to data from Etherscan, the Gas Price of the Ethereum network has experienced significant growth since mid-September. It originally climbed from less than 5 Gwei to more than 25 Gwei. Many Ethereum supporters believe that this is the reactivation of the Ethereum network. Signs of getting up.

However, when we look at the number of daily active addresses on Ethereum, we see that the number is actually falling, suggesting that the recent increase in gas prices is not due to a pickup in overall network activity.

According to blockchain data platform Artemis, as currency price fluctuations bring arbitrage space to the on-chain market, MEV robots bid for transaction confirmations in order to obtain arbitrage opportunities. This suggests that the growth in Ethereum Gas Price is primarily due to MEV bot arbitrage activity, rather than natural growth in network usage.

The Celestia Foundation previously announced on September 23 that it had successfully raised $100 million in financing led by Bain Capital Crypto, with participation from Synracy Capital, 1kx, Robot Ventures, Placeholder and other institutions.

However, the Celestia Foundation does not appear to have fully disclosed specific financing details. According to information disclosed by overseas KOL Sisyphus, this transaction is to sell TIA tokens through over-the-counter (OTC) transactions and has been completed several months ago, and these sales are expected to begin in October. Unlocked.

"Wu Shuo Blockchain" also reported today that the price of the TIA OTC token sale is US$3, one-third will be unlocked on October 31, and the remaining part will be unlocked linearly in the next year, which is quite close to Sisyphus's statement .

According to "The Block" report, based on the trend of transformation towards artificial intelligence and high-performance computing (HPC), financial services group Macquarie has invested in Bitcoin mining stocks including MARA, Riot Platforms, Core Scientific, CleanSpark and Cipher Mining. An "outperform" rating.

In recent years, Bitcoin mining companies have gradually diversified their business into providing hosting infrastructure for AI and HPC in addition to pure cryptocurrency mining. Macquarie analysts Paul Golding and Emma Liang said this trend accelerated after Bitcoin’s fourth halving in April.

Airdrop tokens plummeted within 15 days

A new study from crypto market maker Keyrock shows that 88% of tokens issued as airdrops this year fell after three months, with most of them falling sharply within 15 days of the airdrop.

Keyrock wrote in the report:

“The largest price fluctuations occur in the first few days after the airdrop. After three months, only a few tokens can achieve positive returns, and only a handful can break this trend later.”

The practice of token airdrops was originally intended to reward users who contributed to the early success of the protocol, but in recent years airdrops have been used more as a means to attract users and generate attention for the protocol. Enthusiasm for airdrops peaked as Bitcoin soared to all-time highs following the launch of a spot Bitcoin ETF in early 2024, with prices for other cryptocurrencies following suit.

According to "The Block" report, U.S. Vice President Kamala Harris said in a speech in Pittsburgh on Wednesday that under her leadership, the United States will "recommit" to global leadership in areas that will define the next century, " Maintain dominance in artificial intelligence, quantum computing, blockchain and other emerging technologies."

From Harris’ latest speech today she says that the US should become “Dominant in Blockchain”I’m sure the “silence isn’t enough” “digital assets isn’t enough” crowd will move the goal post again.But: progress! pic.twitter.com/kTEKqFOqMf

Payments giant PayPal announced on Wednesday that its U.S. merchants can now buy, hold and sell cryptocurrencies directly from business accounts, a feature that will not be available in New York state at launch.

PayPal also allows U.S. merchants to externally transfer cryptocurrencies on the blockchain to qualified third-party wallets. PayPal business account holders can now receive or send supported cryptocurrencies from external blockchain addresses.

Jose Fernandez da Ponte, Senior Vice President of Blockchain, Cryptocurrencies and Digital Currencies at PayPal, said: “More and more business owners are expressing a desire to have the same cryptocurrency capabilities as consumers, and we are excited to offer this new product through to meet this need and allow them to use digital currencies easily.”

VanEck: Solana price target $330

According to a report by VanEck on September 25, Solana (SOL) is expected to reach $330 and potentially grow to 50% of Ethereum (ETH)’s current market cap, driven primarily by Solana’s advantages in speed and transaction processing .

The report cites Solana’s throughput data, which states that the Solana network can handle thousands of transactions per second (TPS), which is 3,000% higher than Ethereum’s TPS. Additionally, Solana has 1,300% more daily active users than Ethereum, while its transaction fees are nearly 5 million times cheaper than Ethereum on the Solana network.