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 Project Weekly, taking you to a glance at the progress of mainstream projects and star projects this week.
Bitcoin
El Salvador cancels Bitcoin's status as an official currency
Golden Finance reported that the Salvadoran parliament controlled by the ruling party has just quietly approved a reform of the Bitcoin law, which makes the use of Bitcoin as an official currency invalid and at the discretion of users. The reform came after nearly two years of pressure from the International Monetary Fund (IMF), which set a condition of "reducing the risk of Bitcoin" in exchange for Kenyan President Nayib Bukele's approval of a much-needed $1.4 billion loan. If the Salvadoran government wants to receive the money, it must amend the law by the last day of January.
More than three years after the law was implemented, representatives have amended six of its provisions and repealed three of the sixteen. From now on, Bitcoin will no longer be considered a "currency"; its acceptance will be voluntary instead of mandatory, and it will not be used for taxation.
ZhuSu: The more tokens are issued, the more obvious the irreplaceability of Bitcoin
According to Golden Finance, ZhuSu, founder of Three Arrows Capital, posted on social media that with the issuance of thousands of tokens every day, the irreplaceability of Bitcoin is more clearly visible.
Barclays analyst: Tesla seems to be gradually moving towards "Bitcoinization"
According to Golden Finance, Dan Levy, a senior analyst at Barclays, released a latest research report pointing out that although Tesla's fourth quarter report performed poorly, investors were relatively tolerant of its short-term performance fluctuations. This phenomenon can't help but remind people of Bitcoin. Tesla seems to be gradually moving towards "Bitcoinization", and its stock price is gradually weakening its correlation with fundamentals, and is more affected by market sentiment and narrative.
Barclays mentioned in the report that Tesla's stock currently has a price-to-earnings ratio of 120 times, showing investors' high expectations for its future growth. This phenomenon shows that its stock price depends largely on Elon Musk's influence and the company's narrative ability. Tesla is more like a "meme stock", and its stock price is driven by a variety of technical factors (such as options, quantitative trading and momentum investment), which is similar to the market performance of Bitcoin.
Bitcoin network transaction fees are reduced to 1Sat/byte with high priority
Golden Finance reported that according to mempool.space data, Bitcoin network transaction fees are now reported at 1Sat/byte with high priority.
ECB President: Convinced that EU members will not choose Bitcoin as a reserve asset
Golden Finance reported that European Central Bank President Lagarde said that she was convinced that EU members would not choose Bitcoin as a reserve asset. (CONFIDENT BITCOINS WON'T ENTER RESERVES IN EU)
Lagarde explained that she believes that reserve assets must be liquid, safe and secure. .
JP Morgan: Bitcoin is most correlated with the Russell 2000 technology sector
JPMorgan analysts found that Bitcoin (BTC) has the highest correlation with small-cap technology stocks, especially in the Russell 2000 technology sector, according to Golden Finance. This correlation peaks when the technology market performs strongly or sells off.
Analysts pointed out that since the epidemic, the correlation between the crypto market and the stock market has continued to be positive, mainly affected by the participation of retail investors and technology-driven characteristics. In addition, the high correlation between Bitcoin and small technology stocks stems from the crypto industry's reliance on venture capital and the fact that blockchain innovation is usually concentrated in small and medium-sized technology companies rather than industry giants. JP Morgan Chase emphasized that when the technology industry experiences major market adjustments, such as in 2020, 2022 and 2024, the correlation between Bitcoin and technology stocks will be more significant, further verifying the close connection between cryptocurrencies and the technology industry.
Crypto Tsar David Sacks: The issue of US strategic Bitcoin reserves is still under study
Golden Finance reported that David Sacks, Trump's cryptocurrency adviser, was asked on a Fox News TV interview program when the United States would announce its strategic Bitcoin reserves. David Sacks said: "Trump has asked us to study this issue, and this is one of the things we are currently investigating."
El Salvador's President asked Congress to reform the country's Bitcoin law
Golden Finance reported that ruling party lawmakers said that El Salvador's President Bukele asked Congress to reform the country's Bitcoin law.
Ethereum
Ethereum network gas fee dropped below 2 gwei
Golden Finance reported that according to etherscan data, the current Ethereum network gas fee has dropped below 2 gwei, and is now reported at 1.996 gwei.
pump.fun's revenue in the past 30 days has surpassed Ethereum and Solana
Golden Finance reported that according to DefiLlama data, pump.fun's revenue in the past 30 days has surpassed Ethereum and Solana. pump.fun's 30-day revenue reached US$118.73 million, Ethereum's revenue in the past 30 days reached US$109.72 million, and Solana's revenue in the past 30 days reached US$116.46 million.
Ethereum has fallen 7% in January, and has performed strongly in February and March over the years
On January 27, Ethereum fell nearly 7% in January. According to the market conditions over the years, Ethereum's performance in February and March is relatively strong every year. In the past 8 years, Ethereum has maintained an increase in February for 7 years and in March for 6 years.
Neiro announced that it has been launched on Solana and supports cross-chain transfers with Ethereum
Golden Finance reported that Neiro announced in X that its token has been launched on Solana. With the support of Wormhole, Neiro tokens can now be transferred bidirectionally between Ethereum and Solana. The token has been whitelisted on Portalbridge, which is also the officially recommended transfer method.
It is worth noting that whether on Ethereum, Base or Solana chain, it is the same Neiro token.
Other projects
A total of 17 projects received financing this week, with the largest amount of financing being US$50 million
On February 2, according to DeFiLama data, a total of 17 projects received financing this week, 6 fewer than last week. The project that received the most financing was CipherMining, with a financing amount of US$50 million. Among them, the financing of more than 20 million US dollars is as follows:
VitalVEDA: 20 million US dollars, led by Rollman Management Digital;
Irreducible: 24 million US dollars, led by Paradigm, Bain Capital Crypto;
Cipher Mining: 50 million US dollars, led by SoftBank;
Elastos: 20 million US dollars, led by Rollman Management Digital;
D3 Global: 25 million US dollars, led by Paradigm;
Humanity Protocol: 20 million US dollars, led by Pantera Capital, Jump Crypto;
Pell Network: 35 million US dollars.
Trump's crypto project WLFI increased its holdings by 2,972 ETH
Golden Finance reported that according to on-chain analyst Ember's monitoring, the DeFi project World Liberty Financial (WLFI) supported by the Trump family spent another 10 million USDT to purchase 2,971.4 ETH 15 minutes ago.
Currently, WLFI has spent a total of 297 million U configurations to purchase 8 tokens. In terms of configuration ratio, ETH accounts for 67%.
ai16z announced a brand reshaping, and the project was renamed ElizaOS
Golden Finance reported that ai16z co-founder Shaw Yu X said in a post that in order to move to the next stage, a comprehensive brand reshaping plan will be implemented, and the project will be renamed ElizaOS. $ai16z tokens remain unchanged for the time being, and future changes will be decided by community DAO voting; the existing contract address remains unchanged, and no new tokens are added; Elizav2 is under development, with the goal of creating the most powerful intelligent agent framework.
Hang Seng Bank: Several blockchain proof-of-concept projects have been completed, including CBDC application research
Golden Finance reported that Hang Seng Bank has launched a number of blockchain-related proof-of-concept projects and solutions with members of the Cyberport community. According to Li Wenlong, director of strategy and corporate development and director of the Chief Executive's Office, Hang Seng Bank has completed several blockchain proof-of-concept projects, including central bank digital currency (CBDC) application research, identity verification education information station, community interaction platform and SME information platform development.
DeepSeek-based AI project VVV breaks through $17
Golden Finance reported that affected by Coinbase's listing of Venice Token (VVV), VVV rose above $17 and is now at $17.75, with a 24-hour increase of 103.7%. The market is volatile, so please do a good job of risk control.
DeepSeek-based AI project Venice Token (VVV) announced airdrops to active users of the Base ecosystem
On January 28, Venice Token (VVV), an AI project based on DeepSeek on the Base chain, announced airdrops to active users of the Base ecosystem, including AERO, DEGEN, AIXBT, GAME, LUNA, VADER, CLANKER, MOR holders, etc.
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