Cryptocurrency plunges in response Sui mainnet has been upgraded to version V1.22.0

Headline

▌Iran officially launches drone and missile attack on Israel, cryptocurrency plunges

Iran has launched dozens of suicide drones at Israel. The news has been confirmed by Iranian, Israeli and American officials. Iranian drones are expected to land at 02:00 local time (Beijing time) According to Vietnam News Agency, a representative of the Vietnamese Ministry of Justice said that cryptocurrency is not banned in Vietnam, but it is necessary to develop a legal framework to ensure its normal development and prevent risks. Cao Dang, Deputy Minister of the Ministry of Economy and Civil Legislation of Vietnam Vinh said that Vietnam has no regulations governing the development of cryptocurrencies, and cryptocurrencies are not considered legal assets. He stressed that it is necessary for Vietnam to develop a legal framework for cryptocurrencies to prevent risks and illegal misappropriation. Statistics from the Vietnam Blockchain Association show that as of September 2023, the total value of cryptocurrency in Vietnam is nearly US$91 billion, of which illegal transactions are worth approximately US$956 million.

▌Sui mainnet has been upgraded to version V1.22.0

According to official news, the Sui mainnet has now been upgraded to version V1.22.0, and the Sui protocol has been upgraded to version 42. The highlights of this upgrade include: more precise rounding calculations are provided in the Deepbook accessor function (read-only), support for serialize-signed-transaction and serialize-unsigned-transaction flags is added, and an error, namely the sui client verify-bytecode-meter incorrectly returns the last tick used by the function to be verified as the last tick used by the module to be verified, as well as enabling EC (elliptic curve) operations in Move, etc.

Blockchain Applications

▌Ethereum's Pectra upgrade will bring smart contract-like features to wallets

Ethereum developers have set EIP-3074, which brings smart contract-like features to wallets, and will include it in Ethereum's next upgrade, nicknamed Pectra. However, cryptocurrency traders have raised security risks around the proposal, which could enable malicious agents to drain a wallet's entire assets with a single transaction.

Cryptocurrency

▌Analyst: Bitcoin has reduced some losses

Adam, an analyst at the financial website Forexlive, Button: Iran says military action can be considered over, sounds like Iran doesn't want a wider war. Bitcoin has pared some losses.

▌Crypto rebounds as Iran's UN mission says military action is over

The Iranian UN mission said Tehran now believes its retaliation for the attack on the diplomatic building in Damascus is over after launching drones at Israel. "The matter can be considered over," the statement said. "However, if the Israeli regime makes another mistake, Iran's response will be even more severe. This is a conflict between Iran and the rogue Israeli regime, and the United States must stay away!" Perhaps influenced by this news, cryptocurrencies rebounded, with BTC breaking through $64,000 and ETH breaking through $3,000.

▌About 70% to 80% of secondary market transactions in cryptocurrencies occur between crypto assets and stablecoins

According to the latest analysis of the market structure of crypto assets by the European Securities and Markets Authority (ESMA), about 70% to 80% of secondary market transactions occur between crypto assets and stablecoins, without the participation or use of fiat currencies. ESMA's report argues that during periods of strong growth, trades between crypto assets and stablecoins often give way to crypto asset-to-crypto asset trades. In 2020 and 2021, crypto-to-crypto trading volumes surged, while crypto-to-stablecoin trading volumes declined, supporting this theory. A similar trend was seen in the second half of 2023.

▌Hong Kong Computer Society: Settle tokenized assets with digital Hong Kong dollars

Chen Yingfeng, a member of the Executive Committee of the Hong Kong Computer Society's Fintech Expert Group, said that tokenized assets should be settled with digital Hong Kong dollars, pointing out that after the Hong Kong Securities and Futures Commission issued a circular on tokenized securities, various tokenized products have been launched in the market. To highlight the advantages of tokenized products, both parties to the transaction will use digital currencies in delivery, settlement and operation. In order to avoid the market need to fall on the circulating cryptocurrencies and stablecoins, it is only right for the Hong Kong government to promote the digital Hong Kong dollar, so that Hong Kong can better develop into a Web3.0 hub and consolidate its position as an international financial center.

Important Economic Dynamics

▌Summers: There is no reason for the Fed to cut interest rates

Jinshi Data reported on April 13 that this week, the US Consumer Price Index (CPI) surprised many observers, except former US Treasury Secretary Summers. He pointed out that the US "economic growth rate has exceeded potential" due to fiscal stimulus driven by low unemployment and budget deficits. Summers said this confirmed that the so-called neutral federal funds rate is "much higher than the 2.6% level that the Fed has been using as a guide." Summers said that based on the current facts, the Fed has no reason to cut interest rates, not to mention that the data we saw this week was skewed by problems in the way housing costs were calculated.

Golden Encyclopedia

▌What is Decentralized Science (DeSci)

Decentralized Science (DeSci) within the Web3 framework is a paradigm shift in scientific research, characterized by four basic principles: incentives, transparency, decentralization, and collaboration. DeSci places great emphasis on transparency and supports free and open access to methods, data, and conclusions. Collaboration is at the core of DeSci, which leverages distributed networks to enable cross-border, censorship-resistant collaboration. Decentralized Autonomous Organizations (DAOs) and tokens compensate researchers for their efforts and are the driving force behind DeSci incentives.

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 increase risk awareness.