The US federal government shutdown enters its 18th day, with ETH breaking through $3,900.

Headlines

▌The US federal government shutdown enters its 18th day, freezing numerous Democratic projects.

According to CCTV News, the impact of the US federal government shutdown is expanding. White House Office of Management and Budget Director Walt revealed on social media on the 17th that the shutdown will freeze funding for numerous US Army Corps of Engineers infrastructure projects in Democratic-run states, totaling $11 billion. These projects may ultimately be canceled. According to the White House Office of Management and Budget, these projects include construction on San Francisco's Riverfront Park, the construction of New York City's water and sewer system, and the expansion of several bridges in Massachusetts. Infrastructure projects in Illinois, Maryland, New Mexico, and other states have also been affected. Media outlets have noted that none of these states cast their electoral votes for Trump in the 2024 US presidential election. According to US media reports, the Trump administration has frozen or canceled funding for hundreds of projects across the country since the shutdown, totaling at least $28 billion. These projects are primarily located in Democratic-governed states, cities, or congressional districts where Democratic lawmakers serve, and involve clean energy development, transportation infrastructure, and other areas. ETH breaks through $3,900. Market data indicates that ETH has broken through $3,900 and is currently trading at $3,900.32, a 24-hour increase of 1.08%. Market volatility is significant, so please exercise due caution.

Market

As of press time, according to CoinGecko data:

BTC price is $106,986, up or down -0.2% in the past 24 hours;

ETH price is $3,870.97, up or down -0.0% in the past 24 hours;

BNB price is $1,084.29, up or down -0.6% in the past 24 hours;

Cryptocurrency

▌Public chain activity ranking in the past 7 days: Solana ranks first

According to Nansen data, the top five public chains in terms of active addresses in the past 7 days are: Solana (15.076 million), BNB Chain (12.504 million), Tron (6.711 million), Aptos (4.205 million), Sei (4.026 million).

▌Ripple CLO refuted the claim that cryptocurrency is just a tool for “crime and corruption”

Ripple’s Stuart In his post, Alderoty stated that the New York Times had published a "guest article" for the second time in just a few weeks portraying cryptocurrency as a tool of crime and corruption. This narrative may seem convenient, but it's also lazy and inaccurate. Cryptocurrency is a technology used by over 55 million Americans, and over three-quarters say it has improved their lives, helping them send money, prove ownership, and build new forms of commerce on a transparent, traceable ledger. Corruption and crime don't thrive in the open. The real story is how ordinary Americans are using digital assets to save time, reduce costs, and gain financial freedom. That story deserves to be told. And that's what we're doing. Retail investors have lost approximately $17 billion trying to invest indirectly in Bitcoin through money management firms. According to Bloomberg, retail investors have lost approximately $17 billion trying to invest indirectly in Bitcoin through money management firms such as Metaplanet and Michael Saylor's Strategy. 10X Research suggests these losses stem from an excessively high equity premium, resulting in a share price far exceeding the actual Bitcoin held. A business entity associated with YouTube celebrity MrBeast is suspected of entering the cryptocurrency space. Beast Holdings, associated with YouTube celebrity MrBeast, has filed a trademark application in the United States for "MrBeast Financial," with wording hinting at a potential foray into cryptocurrency. The application includes services such as cryptocurrency payment processing, cryptocurrency exchange, and trading through a decentralized exchange (DEX). This move hints at a potential foray into fintech and Web3, potentially targeting MrBeast's large audience and potentially serving as a cryptocurrency onramp or exchange. Tether Treasury minted 1 billion USDT on the Ethereum network. According to Whale Alert, Tether Treasury minted 1 billion USDT on the Ethereum network around 3 Hours ago, 1 billion USDT was minted on the Ethereum network.

Important Economic Dynamics

▌The probability of a 25 basis point Fed rate cut in October has risen to 99%.

According to CME's "Fed Watch" data, the probability of a 25 basis point Fed rate cut in October is 99%, and the probability of a 50 basis point cut is 1%.

Golden Encyclopedia

▌Is solo Bitcoin mining feasible?

Solo mining involves a single miner independently verifying Bitcoin transactions and adding new blocks to the blockchain without cooperating with others in a mining pool. This process requires significant computing power and resources as miners compete with a global network of participants to find a hash value that meets the Bitcoin network's current difficulty target. It involves repeatedly hashing the block header with different nonce values ​​until a valid hash is found. The first miner to discover this hash earns the right to add the new block to the blockchain and receives a reward in the form of newly minted Bitcoin and transaction fees. Solo mining has the potential to yield lucrative returns. However, compared to collective mining, the chances of success are relatively low, especially given the fierce competition and increasing difficulty of the mining process. Solo mining is like playing the lottery with a powerful computer, but instead of selecting numbers, you rapidly try different combinations to find the winning ticket. The rewards can be substantial, but the odds of success are low, especially with the rise of industrial-scale mining farms dominating the network. Factors affecting the viability of solo Bitcoin mining in 2025 include the increasing difficulty of mining, the high cost and energy consumption of ASIC hardware, competition from industrial mining farms, and the unpredictable nature of finding blocks independently. Alternatives to solo Bitcoin mining include pooled mining, which offers more stable returns by sharing block rewards, and cloud mining, which eliminates hardware ownership but carries risks such as contract volatility and potential scams. Given the challenges of independent mining, individuals may want to consider alternatives that offer more stable returns and lower risks.