Ethereum market share falls below 15%, Venezuela seizes 11,000 mining machines

Headline

▌Ethereum market share falls below 15%

Data shows that the total market value of cryptocurrencies is currently $2.554 trillion, currently $2,553,885,916,872, down 0.4% in 24 hours, and the 24-hour trading volume is $46,378,440,870. Currently, BTC has a market share of 51.8% and ETH has a market share of 14.6%.

▌Venezuelan authorities seize and cut off more than 11,000 Bitcoin mining machines

The Venezuelan Ministry of Electricity announced a special operation to disconnect all Bitcoin mining farms from the power grid. Authorities have seized more than 11,000 Bitcoin mining machines as the government seeks to reduce the power consumption of high-power customers that draw energy from the national power system.

Market

As of press time, according to Coingecko data:

BTC's latest transaction price is $66,276.31, with a daily increase or decrease of -1.1%;

ETH's latest transaction price is $3,070.85, with a daily increase or decrease of -1.7%;

BNB's latest transaction price is $574.36, with a daily increase or decrease of -1.1%;

SOL's latest transaction price is $170.18, with a daily increase or decrease of -1.3%;

DOGE's latest transaction price is 0.1491 US dollars, with a daily increase or decrease of -2.4%;

XPR's latest transaction price is 0.5097 US dollars, with a daily increase or decrease of -2.2%.

Policy

▌ETFStore President: SEC likely to approve 19b-4s, then slow down S-1s

ETFStore President Nate Geraci said on Platform X that the SEC will make a decision on the spot EthETF this week. The SEC must approve 19b-4s (Exchange rule changes) and S-1s (Registration Statements) before the ETF can launch. Technically, it is possible that the SEC will approve 19b-4s and then slow down S-1s (especially given the reported lack of participation here).

Blockchain Applications

▌Boxbet, an iGaming platform based on Telegram, completes strategic round of financing

Boxbet, an iGaming platform based on Telegram, announced that it has completed a strategic round of financing. The specific amount has not been disclosed. Boxbet said that investors include crypto funds that support Solana and a global head iGaming operator. The names of these investors will be made public in the coming weeks. Boxbet said that it will enhance the online gaming experience through a series of unique features and launch a user reward mechanism. According to information disclosed on its website, 30% of its revenue will be used for the purchase and destruction of native tokens on the Ethereum chain, and eventually 75% of the token supply will be destroyed.

Cryptocurrency

▌The number of new Bitcoin wallets has fallen to the lowest level since 2018

According to data from The Block, the 7-day moving average number of new addresses on the Bitcoin network was close to its all-time high six months ago, but has now fallen to its lowest level since 2018. On average, only 275,000 addresses were added to the Bitcoin network every day over the past week, compared to 625,000 six months ago.

▌Giant whale 0xDf7 is suspected of clearing 134,000 UNI bought a month ago

According to on-chain analyst @ai_9684xtpa, address 0xDf7...AA50A is suspected of clearing 134,000 UNI bought a month ago, and if all are sold, it will make a profit of $33,000. The whale's opening cost was $7.44, and the recharge price was $7.69.

▌The overall market value of the Runes sector fell to $929 million

GeniiData data shows that the overall market value of the Runes sector fell to $929 million, with a daily decline of more than 5.43%. Among them, the No. 3 rune DOG•GO•TO•THE•MOON has a market value of $262 million, ranking first; the No. 13 rune PUPS•WORLD•PEACE has a market value of $158 million, ranking second; the No. 8 rune RSIC•GENESIS•RUNE has a market value of $157 million, ranking third.

▌The number of crvUSD minted reached 130 million

According to the data on the Curve website, the number of crvUSD minted by Curve's native stablecoin exceeded 130 million, and as of press time, it was 130,165,161. Among them, the collateral value based on WBTC was US$110 million, the collateral value based on wstETH was US$40,661,200, the collateral value based on ETH was US$56,765,700, and the collateral value based on sfrxETHV2 was approximately US$17,376,100.

Important Economic Dynamics

▌The scale of bond ETFs exceeded 100 billion yuan, and the leading product attracted more than 30 billion yuan

The largest bond ETF (Exchange Traded Open Index Fund) product has reached a new level. Wind data shows that as of May 17, the latest scale of Haifutong CSI Short-Term Bond ETF exceeded 30 billion yuan, reaching 31.949 billion yuan. Haifutong CSI Short-Term Bond ETF is currently the largest bond ETF product in the market. Overall, there are currently 20 bond ETFs in the market, with a total scale of 101.438 billion yuan, an increase of more than 20 billion yuan from the end of 2023, an increase of 26.6%. (Securities Times)

Golden Encyclopedia

▌What is a reentrancy attack in a smart contract?

In a smart contract, a reentrancy attack occurs when a contract calls another contract or function from the outside before completing its own state change. This allows the called contract to re-enter the calling contract and potentially execute parts of its operations again, which can lead to unforeseen and frequent malicious behavior. For example, Contract A calls Contract B to send funds and then modifies its own state. Contract B's code may contain a callback function that allows it to re-enter Contract A and potentially re-execute the transfer function before Contract A completes its state change. This would allow an attacker to obtain funds from the contract multiple times before completing the initial transaction.

Disclaimer: As a blockchain information platform, Golden Finance publishes articles for information reference only and is not intended as actual investment advice. Please establish correct investment concepts and be sure to increase risk awareness.