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
The average daily trading volume of the nine spot Bitcoin ETFs is in the top 1% of all ETFs
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Bloomberg analyst Eric Balchunas noted that as a group, the nine spot Bitcoin ETFs have an average daily trading volume of $120 million, putting them in the top 1% of all ETFs (including GBTC in (within), even if calculated separately, both FBTC and IBIT rank in the top 2%. Analysts commented: “The average operating length of the top 2% of ETFs in daily trading volume has been 14 years. It is crazy that a spot Bitcoin ETF product can achieve this kind of performance in a week.”
The U.S. SEC has opened a comment period on the proposal to conduct options trading based on the BlackRock Spot Bitcoin ETF
According to a public document, the U.S. Securities and Exchange Commission (SEC) has opened a comment period on Nasdaq’s proposal to allow options trading based on the BlackRock Spot Bitcoin ETF, which will last for 21 days. BlackRock just received SEC approval to list its spot Bitcoin ETF (iShares Bitcoin Trust) last week. Bloomberg Intelligence ETF research analyst James Seyffart said that the SEC acted faster than normal on the proposal.
Franklin Templeton CEO: Investors have great demand for Bitcoin
Franklin Templeton CEO Jenny Johnson said that from its spot Bitcoin The ETF has seen a lot of investor demand for Bitcoin, and there are many reasons for this, such as the increasing popularity of Bitcoin payment scenarios, she said: "Bitcoin is almost considered an insurance or safe investment component. But I also think it’s important to drive the next real opportunity in the blockchain world.”
Bloomberg analyst: BlackRock spot Bitcoin ETF trading volume exceeds the combined total of 500 new ETFs last year
Bloomberg analyst Eric Balchunas said Platform X said that 500 ETFs were launched in 2023 and today their total trading volume is $450 million, with the best performing one at $45 million, while the BlackRock Spot Bitcoin ETF (IBIT) alone has more than The total number of these 500 ETFs.
The analyst explained: "Getting volume is difficult, even harder than liquidity, and half of the 500 new ETFs today have less than $1 million in volume. Because volume must be in It is formed naturally in the market and cannot be forged. It gives the ETF the ability to continue to operate."
Analyst: Spot Bitcoin ETF may promote short trading by traditional market participants
Cryptocurrency derivatives trader Gordon Grant said that spot Bitcoin The approval of the ETF may make it easier for traditional market participants to conduct short trading. Shorting the spot of the Bitcoin ETF may lead to an increase in the supply of BTC in the spot market and put downward pressure on the price of Bitcoin. Grant noted, however, that borrowing and shorting stocks is a normal part of healthy, well-functioning asset markets. “This is also critical for complementary considerations such as options trading, structured products, directional leverage and more complex instruments,” he said.
Coinbase Chief Policy Officer: Bitcoin ETF is an important step in clarifying industry regulations and will allow billions or even more funds to enter the market
Coinbase Chief Policy Officer Faryar Shirzad said in an interview that the approval of the listing of Bitcoin ETF means that hundreds of thousands or even billions of dollars or even more funds will enter the encryption market. This is a big event and also means that the market is moving towards An important step has been taken towards clarifying supervision. While it’s an important step forward that’s great for the industry and even more so for consumers, for now, the crypto market still needs legislation.
Deputy Dean of the School of Finance, Shanghai University of Finance and Economics: Bitcoin is becoming a market dominated by institutional investors
Cao Xiao, Deputy Dean of the School of Finance, Shanghai University of Finance and Economics stated that Bitcoin is becoming a market dominated by institutional investors. Generally speaking, after the launch of Bitcoin spot ETF, the Bitcoin market will become more mature. The entry of institutional investors means that more types of related financial products will appear after the ETF, and the price fluctuation of Bitcoin will tend to Smooth, the cost of risk control will be further reduced, thus making the Bitcoin market mature. So this is a major watershed. Liu Bin, director of the Financial Research Office of the China (Shanghai) Free Trade Zone Research Institute, said that in the short term, the approval of the Bitcoin ETF will bring benefits to the cryptocurrency industry, which will help funds enter the market and push up the price of Bitcoin.
Ethereum
The first resolution deadline for the Ethereum spot ETF is May 23
< p>Bloomberg data shows that the first resolution deadline for the spot Ethereum ETF "VanEck Ethereum ETF" is May 23, which is also the earliest one. Currently, a total of 6 spot Ethereum ETFs are waiting for the SEC to make a decision, and the SEC may still make an extension decision.
Polkadot 2023 Developer Report: Full-time developers are second only to Ethereum
According to news on January 18, Polkadot officially posted on social media. , according to the 2023 developer report released by Electric Capital, Polkadot network developers submitted a total of 22,232,604 original codes throughout 2023. Developer contributions accounted for 10.5% of all submitted codes in the Web3 field, with the second largest number of full-time developers. The number of users is second only to Ethereum, reaching 792.
QCP Report: Ethereum could outperform Bitcoin in the medium term
QCP Capital said in its latest market update report that due to The market expects that the Ethereum spot ETF may be approved and that Ethereum may continue to outperform Bitcoin in the medium term. Data shows that the ETH/BTC exchange rate has risen from 0.05 to 0.06 in the past week. The QCP report added: “The next big cryptocurrency event is the Bitcoin halving in mid-April, and the possibility of a spot Ethereum ETF being approved in May.”
Ethereum Core Developer: The Goerli fork has been finalized
Parithosh, the core developer of Ethereum, posted on X that the Goerli fork has been finalized. After the patch was fixed, the validators came back online and the chain started finalizing again. The MEV circuit breaker is automatically disabled and the MEV block starts functioning. Additionally, the number of blobs submitted to the network is normal.
Other projects
The former CEO of the crypto fraud project IcomTech was sentenced to 5 years in prison
According to Inner City Press, crypto Ponzi Scammer Marco Ruiz Ochoa, former CEO of IcomTech, has been sentenced to 5 years in prison by a US judge.
DePIN track Datamall Coin (DMC) project launches DMCs inscriptions
According to official news, on January 18, 2024, the DMC inscription system officially opened its official website To mint, users can mint 210 DMCs/time by spending BTC as a handling fee. At the same time, the official website also launched the innovative Lucky Mint function, which is a unique improvement to the BRC-20 protocol. The inscription of the DMC project is the first inscription with multi-chain ecological linkage and has many innovative gameplays.
Data is value, and DMCs essentially provide the ability to inscribe data of great significance to humanity on the BTC network. Behind DMCs is a new set of protocols, a protocol for pricing data for all mankind. The ERC-7585 protocol proposed by DMC stipulates and solves the storage and confirmation of ETH public data, and realizes the linkage with BTC and ETH.
Binance New Coin Mining Launches the 45th Phase of Project AltLayer (ALT)
Binance announced that Binance New Coin Mining will launch the 45th phase of project AltLayer (ALT). Phase 45 project uses BNB and FDUSD to mine AltLayer (ALT). Users can invest BNB and FDUSD into the AltLayer mining pool on the Launchpad website after 08:00 on January 19, 2024 (East Eight District time) to obtain ALT rewards. ALT can be mined for a total of 6 days. The website is expected to be updated within approximately twenty-four hours of this announcement and before the mining activity opens.
In addition, Binance will list ALT at 18:00 on January 25, 2024 (Beijing time), and open ALT/BTC, ALT/USDT, ALT/BNB, ALT/FDUSD, and ALT/TRY trading pairs. The seed tag will be applied to the ALT.
SevenX Ventures showcases two innovative Web3 projects, Mind Network and Artela
According to official news, the online event hosted by LBank Labs, SevenX Ventures and Sparkle Ventures Demo Day was successfully held, focusing on two Web3 projects with innovative potential: Mind Network and Artela.
Mind Network focuses on integrating fully homomorphic encryption and stealth address protocols to enhance the privacy and security of transfers, and is regarded as an important innovation in the Web3 field. Artela has introduced the "EVM+Aspect" execution layer network, allowing developers to use WASM to build native extensions and work together with EVM to bring richer functions and higher modularity to decentralized applications. This Demo Day not only demonstrated the technical strength of these projects, but also provided new ideas for progress in the Web3 field.
Coinbase NFT: AI-generated NFT service has been launched
Coinbase NFT stated on the X platform that its platform’s “Coinbase NFT Instamint” service can now support creation NFT generated by artificial intelligence.
Disclaimer: As a blockchain information platform, Golden Finance publishes articles for information reference only and not as actual investment advice. Please establish a correct investment philosophy and be sure to increase your risk awareness.
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