Golden Weekly is a weekly blockchain industry summary column launched by Golden Finance. The content covers key news of the week, market and contract data, mining information, project trends, technology progress and other industry trends. This article is a project weekly, giving you an overview of the progress of mainstream projects and star projects this week.
Bitcoin
BTC breaks through $48,500
The market shows that BTC breaks through 48,500 US dollars, currently trading at 48,515 US dollars, with an intraday increase of 2.4%. The market fluctuates greatly, so please control risks.
Crypto Quant founder: Bitcoin may reach $112,000 this year, driven by ETF inflows
Crypto Quant founder Ki Young Ju is on social media According to media reports, driven by ETF inflows, Bitcoin may reach $112,000 this year, with the worst-case scenario reaching $55,000. Ki Young Ju explained that historically, BTC’s bottom occurs at MVRV 0.75 and its top occurs at 3.9. Based on the current spot ETF inflow trend, the highest price may reach $104,000 to $112,000. If there is no hype and the current level of 2.07 is maintained, the price will be $55,000-59,000.
In addition, monthly spot ETF inflows into the Bitcoin market of $9.5 billion could increase the annual realized cap by $114 billion. Even with GBTC outflows, the $76 billion increase would raise the realization cap from $451 billion to $527-565 billion.
Spot Bitcoin ETF reaches $10 billion asset management milestone
Spot Bitcoin exchange-traded fund (ETF) completes first 20 trading days transactions, assets under management (AUM) have now reached a milestone of US$10 billion. Data from BitMEX Research shows that on January 9, the net flows of these nine ETFs reached US$2.7 billion, led by BlackRock’s IBIT fund, which currently holds Bitcoin worth US$4 billion. In second place is Fidelity’s FBTC, with over $3.4 billion in BTC under management. ARK 21Shares’ fund also reached the $1 billion milestone, holding about $1 billion worth of Bitcoin in its portfolio. Meanwhile, Grayscale has seen $6.3 billion in GBTC outflows over the past 30 days. On February 9, the fund recorded $51.8 million in outflows, its smallest single-day withdrawal since the switch.
Nine spot Bitcoin ETFs hold more BTC than MicroStrategy
According to HODL15Capital, nine spot Bitcoin ETFs have been purchased within 21 days of their launch 216,309 Bitcoins (valued at $10.3 billion), exceeding the 190,000 Bitcoins currently held by MicroStrategy.
Survey: 84% of investors predict Bitcoin price will hit new highs after production cuts
A survey covering nearly 10,000 global investors It shows that as Bitcoin is about to undergo its halving, 84% of participants expect Bitcoin to surpass its all-time high price of $69,000. The survey also revealed that investors in Latin America, East Asia and Southeast Asia are optimistic. Furthermore, the study found that 70% of investors plan to increase their cryptocurrency holdings in 2024, while 55% of participants predict that Bitcoin will stabilize between $50,000 and $100,000 during the next bull run.
Cathie Wood: Bitcoin is replacing gold as a store of value asset
In the latest update on YouTube, ARK Invest CEO Cathie Wood said that Bitcoin Bitcoin is actually replacing gold as a store of value asset, and she believes that BTC behaves more as a safe-haven asset and an asset for investors to "pursue high-quality assets" in times of economic uncertainty.
Wood also shared a gold-denominated Bitcoin chart that shows a strong long-term upward trend for BTC. Cathie Wood said this reflects that Bitcoin is now partially replacing gold. She said: “This chart just goes to show you that Bitcoin is rising even relative to gold. Now that there are alternatives to Bitcoin, we think that will continue because there is a simpler, less Frictional way to access Bitcoin (spot ETF)."
10x Research CEO: Bitcoin will hit $70,000 by the end of the year
10x Research CEO Markus Thielen has unveiled his price target for Bitcoin in 2024, predicting that Bitcoin will rise approximately 65% from current levels to reach $70,000 by the end of the year.
Bitcoin rebounded on the back of macro conditions, monetary policy tailwinds, the U.S. election cycle, and increasing allocation demand for Bitcoin ETFs from TradFi investors, Thielen wrote in a report. To $70,000 seems possible." He also noted that the U.S. presidential election cycle coincides with the Bitcoin halving year, and historical data shows bullishness. Specifically, Bitcoin rose 152% in 2012, 121% in 2016, and 302% in 2020, with an average gain of 192%.
Ethereum
Ethereum Layer 2 TVL exceeded US$23 billion, with an increase of 8.51% on the 7th
< p> According to L2beat data, the current total lock-up volume (TVL) of Ethereum Layer 2 reaches US$23.3 billion, with an increase of 8.51% on the 7th. Among them, the top five locked positions are:
Arbitrum One (USD 11.49 billion, an increase of 7.19% on the 7th);
OP Mainnet (USD 5.89 billion, an increase of 7.19% on the 7th) Daily increase of 12.23%);
Manta Pacific (USD 1.64 billion, increase of 2.94% on the 7th);
Base (USD 808 million, increase of 8.4% on the 7th) ;
Metis Andromeda (US$752 million, up 17.95% on the 7th).
Ethereum client Geth releases v1.13.12 version, preparing for the Ethereum mainnet Cancun upgrade
Ethereum Go language client Go Ethereum According to social media, Geth v1.13.12 has been released in preparation for the Ethereum mainnet Cancun upgrade scheduled to be held on March 13, 2024. Also fixed a Geth miner prompt execution error, so (non-MEV) validators, if you want to adjust this, check the miner.gasprice flag.
The Ethereum Foundation announced the establishment of the EPF research group
According to the official blog post, the Ethereum Foundation announced the establishment of the EPF (Ethereum Protocol Fellowship) research group. EPF is a program designed to lower the barrier to entry for developers interested in the core protocol. The EPF Study Group is a 10-week (February 19-April 29) educational series designed to serve as a precursor to the Ethereum EPF (fifth batch coming soon), the EPF Group aims to mentor and cultivate the next generation of Ethereum Core developers and provide insight into Ethereum’s internals.
Cryptocurrency broker Prometheum selects Ethereum for first custody product
Cryptocurrency broker Prometheum says it is ready to start using ETH to comply with SEC regulations escrow, then other currencies will be added soon, and trading operations will begin within a few months.
Prometheum Inc., still the only U.S.-registered crypto securities platform, revealed that the first digital asset it will handle for clients will be Ethereum.
Ark 21Shares files Ethereum ETF registration amendment
According to the latest announcement from the U.S. Securities and Exchange Commission (SEC), Ark21 Shares has submitted its Ethereum ETF Amendment to the Registration Statement (Form S-1/A). This filing update presents Ark 21Shares’ latest filing for its planned Ethereum exchange-traded fund (ETF), including a registration statement and related fee schedule.
Ark 21Shares Ethereum ETF is designed to provide investors with the opportunity to track the performance of the Ethereum market. Its business address is located at 477 Madison Avenue, New York City.
UBS issues tokenized warrants on Ethereum
UBS announces the issuance of investment-grade tokenized warrants on Ethereum in Hong Kong certificate. It uses UBS Tokenize issuance solution. These are call warrants for Xiaomi shares and were sold to OSL Digital Securities. In addition to public blockchain trials, UBS is also producing intraday cross-border buybacks. It is one of the first banks to adopt Broadridge’s distributed ledger repurchase protocol (DLR), a permissioned blockchain infrastructure. A few months before the launch of the Project Guardian repo, UBS used DLR to conduct a cross-border intraday repo involving an Asian bank.
Other projects
Starknet blockchain browser Voyager releases STRK airdrop data dashboard page
Starknet blockchain browser Voyager Publish the STRK airdrop data dashboard page, showing "STRK airdrop is coming soon".
Previously, Starknet has conducted multiple cross-chain tests and recently completed 2 rounds of stress tests. The native token STRK has been included in the asset list by the ecological wallet, and airdrop hunters have picked up suspected STRK. The claim related page code of the token.
PANDORA fell below US$18,000, a 24-hour drop of 38.4%
The market showed that PANDORA fell below US$18,000, and is now quoted at US$17,416.66, a 24-hour drop of 38.4% %.
Acala ecological participants will receive PINK airdrops, and 25% will be allocated to ACA stakers
Acala, the Polkadot ecological DeFi protocol, announced that Acala Network participants will receive The Polkadot ecosystem Meme token PINK is airdropped. 25% is allocated to ACA stakers, 20% to Euphrates users, 15% to Acala NFT holders, 10% to LDOT holders, 10% to tDOT holders, 10% to aSeed holders, 5% Allocated to DOT in the Starlay pool, and 5% to DOT/LDOT LP providers in DEX. Acala’s PINK airdrop snapshot has not been taken yet and will be taken closer to the token’s launch date.
According to PINK’s token economic model, its total token supply is 2,300,001,221., 50% of which is used for airdrops. This airdrop is the second batch, which will allocate 12.5% of the total supply. To the parachain team, Acala can obtain 0.74% of the total supply.
Solana Incident Report: Due to a bug triggering an "infinite loop" within a layer 1 blockchain validator
Prepared by Solana software development company Anza The post-mortem reports that Solana failed to reach consensus for about five hours on Tuesday due to a bug that triggered an “infinite loop” within the layer 1 blockchain validators. The report states that the bug “created a classic infinite loop” among validators, who are tasked with confirming new blocks on the Solana blockchain.
An infinite loop is when a set of coded instructions for a computer node continues to execute without terminating. Because Solana validators are stuck in this infinite loop, they are stuck on a specific block, preventing them from processing new blocks and adding them to the blockchain.
Polygon releases Type 1 Prover of zkEVM prover
Polygon releases Type 1 Prover of next-generation zkEVM prover, which is Polygon’s next-generation proof technology , can generate proofs for any EVM chain (sidechains, Optimistic Rollup, or even Ethereum itself).
Polygon stated that the Type 1 upgrade will be able to generate ZK proofs for Ethereum mainnet blocks at an average cost per transaction as low as $0.002-$0.003 (36 times faster than any other Type 1 Prover Above), with the improvements of Plonky3 and zkEVM, the cost is expected to be reduced by 30 to 50 times next year.
The number of bridging user addresses on the Arbitrum chain has exceeded 700,000
Dune data shows that the number of bridging user addresses on the Arbitrum chain, the second-layer expansion solution for Ethereum, has exceeded 700,000. 700,000, reaching 700,060 at the time of writing this article, and the on-chain bridge TVL is close to 3.4 million ETH, worth approximately US$8.275 billion.
The Uniswap Foundation announced a new funding strategy and plans to allocate US$30 million in grants over the next two years
The Uniswap Foundation announced a reimagined Funding Strategy, with plans to distribute $30 million in grants over the next two years, new grant strategy highlights include:
Stakeholder-focused grant design centered around four specific audience categories (i.e.: Developers, Researchers, Governance, and Innovation) and redesign the grant-making process;
The Foundation will focus on larger strategic initiatives and programs rather than funding one-time grants projects, activities, and content, the Foundation shifts its strategy from funding mid-sized projects to providing larger grants of $250,000+, each dedicated to building the Uniswap ecosystem in the coming years;
< p>Starting this year, the Foundation will define, capture and report measurable short- and long-term KPIs to serve each of its macro goals.
Scroll: The main network will be upgraded on February 21, and user bridging fees will be reduced by about 50%
Ethereum’s second-layer network Scroll stated on the X platform , the upcoming protocol upgrade will improve efficiency and reduce the cost of bridging from Ethereum to Scroll by up to 50%. The upgrade will launch via the Scroll Multisig contract on February 7th and will have a two-week time limit. The Scroll mainnet will be upgraded on February 21, and Scroll users will begin to enjoy approximately 50% reduction in bridging fees.
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