Rhythm Morning Post | Grayscale, Coinbase and the US SEC are negotiating to convert the Ethereum Trust Fund into an Ethereum ETF; Vitalik said that Ethereum can respond to potential quantum attacks by "restoring the fork"
Selected news:
1. Data: The total market value of stablecoins increased by 2.24% weekly, and USDT issuance has exceeded 100 billion US dollars;
2. In the Lightning Network payment channel The US dollar capacity reached US$325 million, a record high;
3. WIF rose above US$2.4 to hit a record high, with a 24-hour increase of 16.5%;
4. Vitalik: Ethereum can pass "Restore the fork" to deal with possible quantum attacks;
5. Grayscale, Coinbase and the US SEC are negotiating on converting the Ethereum Trust Fund into an Ethereum spot ETF
FTX claims portal launched; Saga airdrop The application page is online; Sam Altman returns to the OpenAI board of directors; the meme currency sector continues to be strong; Bitcoin hits new highs twice and fails to stand firm;
《Modularity, and the endgame of Ethereum》
Solana and modular architecture in blockchain technology and its impact on industry development.
Several projects in the AI sector rose by more than 15% in 24 hours, and WLD rose by more than 40%
《Where have all the token rewards gone? 》
What is the impact and efficiency behind the token incentive plan? Although this incentive method is being widely used, few people have analyzed its actual effect
Bitcoin briefly fell below US$68,000, and Ethereum briefly fell below US$3,800
On March 11, according to OKX market information , Bitcoin briefly fell below $68,000 and is now quoted at $67,919. Ethereum briefly fell below $3,800 before recovering and is now quoted at $3,807.
PYTH short It broke through $0.78 at the time, with a 24-hour increase of 10.4%
On March 10, according to OKX market data, PYTH broke through $0.78 for a short time, and is now quoted at $0.768, with a 24-hour increase of 10.4%.
WIF up It broke through $2.4 and hit a record high, with a 24-hour increase of 16.5%
On March 10, according to market data, WIF rose to break through $2.4 and hit a record high. It is now quoted at $2.41, with a 24-hour increase. 16.5%.
BNB rises It briefly exceeded $530, with a 24-hour increase of 8%
On March 10, according to OKX market data, BNB rose to briefly exceed $530, and is now quoted at $528.8, with a 24-hour increase of 8%. %.
On March 10, according to monitoring by on-chain data analyst @ai_9684xtpa, between March 7 and March 10, the PORTAL market-making address starting with 0x75b has transferred a total of 2.85 million PORTAL to Binance in multiple batches, which is approximately A total of $6.52 million. The address still holds 11.05 million tokens, worth $28.18 million.
Whale The address qklpj.eth transferred 4 million ARKM to Binance
On March 10, according to on-chain data analyst Ember monitoring, qklpj.eth transferred 4 million ARKM from Binance 10 minutes ago. The 4 million ARKM (approximately $12.8 million) withdrawn was transferred back to Binance again. qklpj.eth’s ARKM, which cost around $2.50 at the price when the address was withdrawn from Binance, is now transferred to Binance for $3.20, with a projected profit of $2.8 million (+28%) if sold.
March 11 , according to people familiar with the matter, Arbitrum community members abandoned the above proposal due to concerns about the potential legal risks that the proposed donation to Tornado Cash developers would bring to the project. ArbitrumDAO proposed donating up to $1.28 million in ARB to criminal charges against Tornado Cash developers Roman Storm and Alexey Pertsev, but the proposal has been removed by its authors as token holders expressed concerns over whether such a donation would pose legal risks . According to previous news, the Arbitrum community launched a vote on the proposal to "fund the legal defense of Tornado Cash co-founder Roman Storm and Tornado Cash developer Alexey Pertsev." The proposal states that Tornado Cash is a beacon of privacy and security for the crypto industry, providing users with a reliable way to conduct private transactions on the Ethereum blockchain.
March On the 11th, according to Dune data, there are currently 1,272,063,071 PYTH in pledge status, with 186,788 pledgers. Both data have declined since the announcement of the Wormhole airdrop. However, due to rising currency prices, the value of the pledged tokens has exceeded $1 billion. As of press time, PYTH was quoted at $0.8168, a 24-hour increase of 19.11%.
On March 11, according to data from the Federal Reserve’s official website, as of March 5, the size of the Fed’s balance sheet had dropped to US$7.538 trillion, and the cumulative balance sheet reduction in the past year was US$1.2 trillion. Dollar. On March 10 last year, the U.S. financial regulator announced the closure of Silicon Valley Bank, and a crisis broke out in the U.S. banking industry. The Federal Reserve's balance sheet expanded for three consecutive weeks to rescue the market, and on March 21, 2023, it hit the highest balance sheet scale in the past year. $8.733 trillion.
On March 11, according to Token Unlocks data, tokens such as ARB and APT will be unlocked this week, including:
Moonbeam (GLMR) unlocked 3.04 million tokens at 8:00 on March 11, worth approximately US$1.49 million, accounting for 0.36% of the circulating supply;
Aptos (APT) will be released on 3 At 6:00 on March 13, 24.84 million tokens will be unlocked, worth approximately US$329 million, accounting for 6.73% of the circulating supply;
CyberConnect (CYBER) will unlock 886,000 at 18:00 on March 15 tokens, worth approximately $10.51 million, accounting for 5.98% of the circulating supply;
Flow (FLOW) will unlock 2.6 million tokens at 8:00 on March 16, worth approximately $3.62 million , accounting for 0.17% of the circulating supply;
Arbitrum (ARB) will unlock 1.11 billion tokens at 21:00 on March 16, worth approximately US$2.32 billion, accounting for 76.62% of the circulating supply;
ApeCoin (APE) will unlock 15.6 million tokens at 8:00 on March 17, worth approximately US$35.57 million, accounting for 2.55% of the circulating supply.
On March 11, according to The Block data, the Lightning Network payment channel had nearly US$325 million in US dollar capacity, an increase of 37% in the past month, hitting a record high. Additionally, the Bitcoin capacity currently stands at 4,680 coins, which is 17% lower than the all-time high. It is reported that the capacity of the Lightning Network refers to locking US dollars and Bitcoin in a two-way payment channel built on the Bitcoin blockchain, thereby enabling fast, low-cost transactions and final settlement on the Bitcoin blockchain.
Circle minted 250 million USDC on Solana chain
On March 11, according to Whale Alert monitoring, at around 06:06 Beijing time today, Circle minted 250,000,000 USDC on the Solana chain.
On March 10, according to DefiLlama data, the total market value of stablecoins reached US$144.958 billion, an increase of 2.24% in the past week %. The total market value of USDT reached US$102 billion, an increase of 2.61% in the past week.
Vitalik： Ethereum can respond to possible quantum attacks by "restoring the fork"
On March 10, Ethereum co-founder Vitalik Buterin posted on the Ethereum Research Forum that Ethereum can pass "Restore the fork" to deal with possible quantum attacks. Vitalik said that although quantum computing attacks may be a threat, Ethereum is already prepared to deal with it and can protect user funds through a simple "recovery fork". This backup plan could be implemented in the event of a blockchain hard fork, where users would need to download a new wallet, but relatively few users would lose their funds.
Roll back all blocks after the first block where a large-scale attack occurred; disable traditional EOA (externally owned account) transactions; add new transaction types , allowing transactions from smart contract wallets; adding new transaction types or opcodes, allowing STARK proofs to be provided. If the proof passes, the user's account code will be switched to the new verification code, and from then on you will be able to use it as a smart contract wallet; in order to improve Gas efficiency, STARK can be allowed to be a batch proof, proving N of the above types of STARKs (must be STARK-of-STARKs, rather than directly proving multiple claims).
The implementation infrastructure for such a hard fork can in principle be built starting now, making the Ethereum ecosystem fully prepared in the event of a possible quantum emergency .
On March 10, according to Cointelegraph, Grayscale and Coinbase recently met with U.S. SEC officials to discuss the rules for launching an Ethereum spot exchange-traded fund (ETF). change.
Grayscale wants to convert its Ethereum Trust, which tracks the market price of Ethereum, into an ETF, similar to what its Bitcoin Trust did in January The case for conversion to ETFs. The meeting, held on March 6, following the end of the comment period for the proposal, discussed concerns about possible market manipulation if the fund was approved.
According to a presentation shared by the SEC, Coinbase said the same rationale that led to Bitcoin ETF approval should be applied to Ethereum because the token has “significantly reduced ETH Mechanism susceptible to fraud and manipulation risks.
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