ETH destruction hit a new low last Saturday, FARTCOIN broke through $0.53

Headlines

▌Daily ETH destruction on the Ethereum network hit a record low last Saturday

According to data from The Block, the Ethereum network destroyed only 53.07 ETH in a single day last Saturday, which is worth about $106,000 at current prices, a record low, indicating a significant reduction in demand for Ethereum block space. Ethereum's EIP-1559 change simplifies the transaction fee process while requiring the network to destroy all ETH used to pay basic transaction fees. The mechanism is designed to reduce inflationary pressure and may make Ethereum a deflationary asset during peak network activity. In addition, the seven-day moving average of active addresses recently fell to its lowest value since October 2024. The number of new address creations, the number of transactions, and daily transaction volume have also declined in recent weeks.

▌FARTCOIN broke through 0.53 USD, with a 24-hour increase of 14.8%

The market shows that FARTCOIN broke through 0.53 USD and is now quoted at 0.5252 USD, with a 24-hour increase of 14.8%. The market is volatile, so please do a good job of risk control.

Market

As of press time, according to Coingecko data:

BTC's latest transaction price is $86,530.47, with a daily increase or decrease of +2.8%;

ETH's latest transaction price is $2,015.08, with a daily increase or decrease of +1.4%;

BNB's latest transaction price is $627.43, with a daily increase or decrease of -0.0%；

SOL's latest transaction price is $134.51, with a daily increase or decrease of +4.5%；

DOGE's latest transaction price is $0.1742, with a daily increase or decrease of +3.8%；

XPR's latest transaction price is $2.45, with a daily increase or decrease of +3.1%。

Policy

▌Viewpoint: The White House is considering using gold reserves to buy Bitcoin

According to BITCOINLFG, the White House is reportedly considering using gold reserves to buy Bitcoin.

▌International Monetary Fund: Did not indicate that Bitcoin is considered "digital gold".

The International Monetary Fund did not indicate that they consider Bitcoin "digital gold".

Blockchain Applications

▌Developers Port Tornado Cash to MegaETH Testnet

According to The Block, developer Gunboats ported the Tornado Cash protocol to the MegaETH public testnet, which supports 20,000 transactions per second. Inspired by the U.S. Treasury Department's lifting of sanctions on Tornado Cash, Gunboats deployed it to MegaETH and named it ETHTornado. He used the Truffle framework to complete the porting and said that Solidity smart contracts can now be easily written through Foundry. Gunboats believes that such restrictions are meaningless and emphasizes that the current low activity of ETHTornado is mainly due to the lack of an easy-to-use front end.

Cryptocurrency

▌Bitcoin mining difficulty increased by 1.43% to 113.76 T last night, close to the historical high

Cloverpool data shows that the difficulty of Bitcoin mining has been adjusted at block height 889,056 (Beijing time 03-23 ​​19:15:42), and the difficulty has been adjusted by 1.43% to 113.76 T, close to the historical high (114.17).

▌CZ opened a 24.7x mubarak long order on APX Finance with 0.04 BNB, and the transaction has been completed

According to the on-chain analyst @ai_9684xtpa, seven minutes ago, CZ used a public donation address to open a 24.7x mubarak long order on APX Finance with 0.04 BNB (the transaction has been completed) -APX: has risen 26% in a short period of time (US$0.64>US$0.081) -mubarak: has risen 5.5% in a short period of time (US$0.146>US$0.154)

▌CZ: On APX Finance long mubarak is the first time to test on-chain perpetual contracts, just for experience

CZ posted on the X platform, "Going long mubarak in APX Finance is the first time to test on-chain perpetual contracts. Just want to experience it, and also want to see if there is still miner extractable value (MEV). You may not believe it, I have never traded futures on Binance (centralized exchange). Although I have seen many product demonstrations."

▌A whale spent $5 million to buy 401,420 TRUMPs at an average price of $12.45

According to Onchain Lens monitoring, whale @naseem spent $5 million to buy 401,420 TRUMPs at an average price of $12.45. The whale has made more than $109 million in profits from TRUMP transactions.

▌USDC Treasury minted an additional 250 million USDC on the Solana chain

According to the on-chain data tracking service Whale Alert, at around 4:01 am Beijing time, USDC Treasury minted an additional 250 million USDC on the Solana chain.

Important economic dynamics

▌Important macro data of the United States next week: The core PCE of the United States in February will be released on March 28

The important macro data to be released in the United States next week are as follows: ·At 21:05 on March 25, FOMC permanent voting member and President of the Federal Reserve Bank of New York Williams delivered an opening speech at an event; ·At 01:10 on March 27, FOMC voting member and President of the Federal Reserve Bank of St. Louis Moussalem delivered a speech; ·At 20:30 on March 27, the number of initial jobless claims in the United States for the week ending March 22 (10,000 people) was expected to be 22.5, and the previous value was 22.3; ·At 20:30 on March 27, the final value of the annualized quarterly rate of real GDP in the fourth quarter of the United States was expected to be 2.3%, and the previous value was 2.3%; ·At 20:30 on March 28, the annual rate of the US core PCE price index in February was expected to be 2.70%, and the previous value was 2.60%; ·At 22:00 on March 28, the final value of the University of Michigan Consumer Confidence Index in March was expected to be 57.9, and the previous value was 57.9.

▌The probability of the Federal Reserve keeping interest rates unchanged in May is 87.8%

According to CME's "Federal Reserve Watch": The probability of the Federal Reserve keeping interest rates unchanged in May is 87.8%, and the probability of a 25 basis point rate cut is 12.2%. The probability of the Federal Reserve keeping interest rates unchanged by June is 18.1%, the probability of a cumulative 25 basis point rate cut is 72.2%, and the probability of a cumulative 50 basis point rate cut is 9.7%. (Jinshi)

Golden Encyclopedia

▌What is a cold wallet?

A cold wallet is a cryptocurrency storage method that is kept offline and disconnected from the internet. This setup makes it more difficult for hackers to access funds remotely. Examples include: hardware wallets (e.g. Ledger, Trezor), paper wallets, isolated computers (devices that are never connected to the internet).

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.