Golden Web3.0 Daily | Researcher: Ethereum will become a super-robust currency

DeFi data

1. Total market value of DeFi tokens: $108.904 billion

DeFi total market value data source: coingecko

2. The trading volume of decentralized exchanges in the past 24 hours was 6.344 billion US dollars

Top ten rankings of DeFi projects and locked assets Data source: defillama

NFT data

1. Total market value of NFT: US$23.754 billion

NFT total market value, market value ranking of the top ten projects Data source: Coinmarketcap

2. 24-hour NFT trading volume: 3.049 billionUS dollars

NFT total market value, market value ranking of the top ten projects Data source: Coinmarketcap

3. Top NFTs in 24 hours

Top ten NFTs with the highest sales growth in 24 hours Data source: NFTGO

Headline

Ethereum Foundation Researcher: Ethereum will become an ultra-sound currency as issuance decreases

Justin Drake, a researcher at the Ethereum Foundation, said it will "soon" become an "ultra sound" currency, while Bitcoin is "eliminated" as it approaches a supply cap of 21 million, a statement that has sparked debate between the two communities. Drake recently posted on X that to make ETH "ultra-sound again, either issuance must decrease or destruction must increase. I believe both will happen." Ethereum's issuance was deflated after the merger in 2022, but its issuance began to increase in April 2024 after the Dencun upgrade, as the Dencun upgrade reduced the fees and total destruction of the L2 network. However, Drake compared ETH's issuance with Bitcoin's issuance and found that Bitcoin's supply has increased by 655,000 since the Dencun upgrade, while the Ethereum network has increased by 462,000 ETH in the same period. At current prices, the former is worth about $63.5 billion, while the latter is worth only $1.25 billion. Drake said: "Today, BTC's supply is growing by 0.83% per year, 66% faster than ETH." He also pointed out that the 21 million supply cap of the Bitcoin blockchain could lead to long-term security risks because miners' income mainly comes from block rewards (about 99% in the past week, and only 1% from network fees). He added that Bitcoin is vulnerable to security risks because the cost of attacking the network is relatively low.

MEME hot spots

1. AI detection of the Meme coin video released by the President of the Central African Republic may be a deep fake, and the authenticity of the project has been questioned by many parties

On February 10, the President of the Central African Republic, Touadéra, announced the release of the official meme coin CAR on the X platform this morning, calling it an "experiment" to promote national development. However, the announcement video was marked as suspicious by two AI deep fake detection tools. According to GMGN market data, CAR's market value has now exceeded $700 million. The authenticity of the project has been questioned by many parties. Two detection models of Deepware, an AI deep fake detection platform, showed that the video statement released by the president was highly suspicious, and one model pointed out that there was an 82% chance that the video was a deep fake. Yokai Ryujin, founder of Unrevealed XYZ, pointed out that the project domain name was registered through Namecheap only three days ago, and the registration method did not comply with government operating regulations. Domain name service provider Namecheap has suspended related services, but the project website is still running. In addition, industry insiders questioned the unreasonableness of publishing the announcement at midnight local time and using English instead of the official language French. At present, the official X account of the project @Carmeme_news has been banned by the platform.

2. Maldives President suspected of launching MLDVS token

Golden Finance reported that Maldives President Mohamed Muizzu posted on the X platform that he would launch $MLDVS tokens on the Solana network, aiming to use digital culture to unite people and promote the Maldives to the global crypto market. However, the post is closed for comments, and it is not yet certain whether its account has been hacked. Users are advised to remain vigilant and pay attention to investment risks.

3. Coinbase executives talk about the principles of listing Meme coins: try not to involve the background story of the token, but use strict standards to maintain rigor

Golden Finance reported that Coinbase Chief Policy Officer Faryar Shirzad shared the principles of the trading platform's listing of Meme coins in an interview with Bloomberg. He said: "We try not to involve the background story of any token, but we use strict standards to ensure network security, evaluate potential fraud, and determine whether it meets securities standards. Our process remains calm and rigorous."

DeFi hotspots

1. Analysis: Ethereum short positions increased by 40% in a week, up 500% since November last year

Golden Finance reported that The Kobeissi Letter published an article on X, saying that ZeroHedge's new chart shows that Ethereum is facing record shorting by hedge funds, with the number of CME futures contracts hitting a new high of 11,341. Ethereum's short positions increased by 40% in a week, up 500% since November 2024. It pointed out that Ethereum's history shows that there is a clear correlation between large short positions and subsequent price plunges.

2. Bitcoin network transaction fees dropped to 1 satoshi/byte, and Ethereum gas fees dropped to less than 1 gwei

Golden Finance reported that Mempool.space data showed that the current transaction fee (gas fee) of the Bitcoin network has dropped to 1 satoshi/byte, about $0.14. Etherscan data shows that the median price of Ethereum Gas fee is currently about 0.9 gwei, about $0.05.

3. DePIN project Hivello received strategic investment led by Animoca Brands

On February 10, the DePIN project Hivello received a strategic investment led by Animoca Brands. The specific amount has not been disclosed. The funds raised will be used for further innovation to simplify DePIN nodes and make them more user-friendly. Hivello is a DePIN aggregator, and users can earn income by monetizing idle computer resources in multiple decentralized networks. Previously, Hivello completed a $1.5 million financing in February last year, with Blockchange and others participating.

4. Avail Lianchuang: Most current chain abstraction technologies make the crypto ecosystem more fragmented

According to Cointelegraph, Avail co-founder Anurag Arjun said that most current chain abstraction technologies make the crypto ecosystem more fragmented because each different blockchain base layer has its own set of security assumptions, which makes interoperability between chains challenging. Arjun explained: "They have their own set of validators and crypto-economic security. Therefore, you have to create infrastructure called light clients, such as two-way light clients. This is often the main bottleneck." He added that bridging between chains is usually a multi-step process of communication between blockchain networks, which has high costs and security risks, while isolating users and capital into fragmented pools.

5. Alliance DAO co-founder: The same project was launched on Ethereum L2 but no one was interested, while Solana was relatively more effective

On February 10, Alliance DAO co-founder Qiao Wang said in his latest podcast video, "A year ago, I thought there was no difference in developing projects on Ethereum L2 or Solana, but after nearly a year of observation and comparison, I found that the same startup project had no transactions or users on Ethereum L2, but was much more active on Solana." Therefore, Qiao Wang suggested that crypto startup projects should be launched on Solana.

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 concept and be sure to improve risk awareness.