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
Viewpoint: Data from the past 8 months show that BTC prices are greatly affected by the flow of funds from the US Bitcoin ETF
According to HODL15 Capital monitoring, the inflow/outflow of the US Bitcoin ETF is highly correlated with the BTC price: when the inflow of the Bitcoin ETF is large, the BTC price is relatively high; when the outflow of the Bitcoin ETF is large, the BTC price tends to be downward.
Starbucks accepts Bitcoin as payment in El Salvador
According to Bitcoin Magazine, Starbucks accepts Bitcoin as payment in El Salvador.
CryptoQuant: Bitcoin is in a bear market again
CryptoQuant research director Julio Moreno posted on the social platform that the Bitcoin market cycle indicator is in a bear market again. From a price perspective, if the price of Bitcoin falls below $56,000, the risk of a larger correction will increase.
Analysis: Bitcoin has underperformed the S&P 500 since the beginning of August
According to the weekly report released by Coinbase on Friday, Bitcoin has underperformed the S&P 500 since the deleveraging event in early August.
Coinbase analysts David Duong and David Han said: "On a risk-adjusted basis, Bitcoin prices are currently 0.50 standard deviations below their three-month average, while the S&P 500 index is actually 1.41 standard deviations above its three-month average."
Coinbase analysts said that Bitcoin's recent price performance has been volatile, with a fairly narrow trading range, a lack of narrative catalysts to drive Bitcoin prices up, and September is a seasonally difficult period for cryptocurrencies.
QCP Capital: Bitcoin volatility may ease as the market expects the Fed to cut interest rates
QCP Capital analysts expect that considering the impact of this Friday's US GDP report and next week's non-farm payrolls data on the Bitcoin market, Bitcoin price volatility will decline as the market prepares for a possible rate cut by the Federal Reserve.
Currently, more than 110 companies are conducting Bitcoin-related businesses in Africa
Bitcoin Magazine published an article on the X platform stating that more than 110 companies are currently conducting Bitcoin-related businesses in Africa.
Ethereum
The Ethereum Foundation announced a list of Q2 funded projects and community activities, with a total amount of more than $8.47 million
The Ethereum Foundation announced a list of funded projects and community activities in the second quarter of 2024, with a total amount of more than $8.47 million. In terms of community and education, it has supported global conferences and hackathons such as ETH Beijing, ETH Tokyo, and ETHWarsaw. In the field of cryptography and zero-knowledge proof, it has funded research projects such as the Anon Aadhaar protocol and Faster Scalar Multiplication of Elliptic Curves. In terms of developer experience, the development of tools such as Circom Language Server and MEDGA Solidity debugger was supported.
The Foundation also supported the retroactive public goods funding round operated by Cryptoversidad and the Road to Devcon quadratic funding round for Southeast Asia through indirect funding. At the protocol level, it continues to support the Account Abstraction Core Team and Ethereum Protocol Fellowship (EPF) projects. Other important funding includes projects such as L2BEAT, Ephemery Testnet and Summer of Protocols.
Deribit: 62,000 Bitcoin options and 530,000 Ethereum options are about to expire
According to Deribit data, 62,000 Bitcoin options and 530,000 Ethereum options are about to expire, involving a notional value of US$3.66 billion and US$1.34 billion, respectively. The Put Call Ratio of Bitcoin options is 0.59, and the maximum pain point is US$61,000. The Put Call Ratio of Ethereum options is 0.49, and the maximum pain point is $2,800.
Jupiter Lianchuang Meow: EVM and Ethereum still have bright prospects
Jupiter Lianchuang Meow wrote, "I have invested a lot of time in the Ethereum ecosystem, contributed to key projects such as Instadapp, Fluid, Kyber Network and WBTC, and am very proud of my work. EVM and Ethereum (putting aside short-term issues) have incredibly bright prospects as the de facto engine of the new blockchain, and this simple fact must not be forgotten in the current negative sentiment."
JPMorgan Chase: Ethereum ETF is less attractive due to lack of pledge, "first-mover advantage" and low liquidity
JPMorgan Chase said in a research report on Wednesday that Ethereum spot exchange-traded funds have generally seen net outflows since their launch last month, while the spot Bitcoin ETF launched earlier this year has been more successful. Ethereum funds saw net outflows of about $500 million, while Bitcoin ETFs saw net inflows of more than $5 billion.
The bank said the weak data for Ethereum ETFs was somewhat expected, noting that Bitcoin's "first-mover advantage," lack of collateral, and lower liquidity meant it was less attractive to institutional investors.
The Ethereum Foundation has sold 239,000 ETH since January 1, 2021
Lookonchain monitoring shows that five days ago, the Ethereum Foundation deposited 35,000 ETH ($94.07 million) with Kraken at $2,688. Now ETH is $2,450, down 8.8%. Since January 1, 2021, the Ethereum Foundation has sold 239,000 ETH ($654 million).
Other projects
BNB Chain launches official cross-chain bridge with Celer, deBridge and Stargate
BNB Chain, in collaboration with Celer, deBridge and Stargate, has launched BNB Chain Bridge, which aims to enhance cross-chain connectivity, liquidity and user experience on BNB Chain. BNB Chain said that the integration of these advanced cross-chain protocols will improve the capital efficiency of assets on BNBChain and promote the development of a wider range of DeFi products and services.
HKMA launches Ensemble project sandbox to promote tokenized applications
The Hong Kong Monetary Authority held a sandbox launch ceremony for the Ensemble project today, announcing that the first phase of the trial will cover four major tokenized asset use case themes, marking an important step forward in the financial industry's practical application of tokenized technology.
RWA startup Centrifuge partners with Morpho and Coinbase to launch lending market
RWA startup Centrifuge has used the vault system of lending company Morpho to build a lending market with collateral from several U.S. Treasury-backed tokens. The market relies on Coinbase's second-layer network Base and Morpho Vaults system, using three tokenized U.S. bonds as collateral, including Centrifuge's Anemoy Fund, Midas's short-term U.S. Treasury bonds (mTBILL) and Hashnote's U.S. Yield Coin (USYC). This is the first time that Ethereum-powered Coinbase verification has been used in a lending market, aiming to provide instant liquidity without redeeming U.S. bonds.
MakerDAO founder: The new protocol will not add a freezing function when it is launched, only the ability to upgrade will be retained
MakerDAO founder Rune Christensen responded to the discussion about "DAI is adding a freezing function". Christensen said that in fact the new protocol will not have a freezing function when it is launched, but only the ability to upgrade. This means that future governance can decide how to implement a mechanism similar to the freezing function based on the consideration of all data to prevent various risk factors as much as possible.
ALEX announced the launch of V2 version, supporting the integration of AMM and order book transactions, etc.
Bitcoin DeFi platform ALEX announced the launch of ALEX V2. The new version integrates AMM and order book transactions, and aggregates Bitcoin L2 network liquidity through XLink.
It is reported that the main functions of ALEX V2 include unifying Bitcoin ecosystem transactions, optimizing order matching, supporting unilateral liquidity provision, and simplifying chain abstraction for user experience.
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