Golden Weekly is a weekly blockchain industry summary column launched by Jinse Finance, covering the week's key news, market and contract data, mining information, project dynamics, technological progress and other industry dynamics. This article is a project weekly, taking you to see the progress of this week's mainstream projects and star projects.
Bitcoin
Grayscale GBTC Bitcoin holdings fell below 300,000 BTC
Grayscale's official data shows that as of April 26, local time, GBTC's Bitcoin holdings have fallen below the 300,000 BTC mark, reaching 298,445.4699 BTC, a decrease of about 2,167 BTC from the previous day. In addition, GBTC's asset management scale (non-GAAP) is US$19,052,609,573.56, and the circulating shares have dropped to 335,190,100 shares.
Long-term Bitcoin holders have been selling their positions since January
IntoTheBlock data shows that long-term Bitcoin holders began selling their positions in January, and the pace of selling accelerated by the end of March. They hope to profit as market confidence increases. IntoTheBlock particularly emphasizes that although long-term holders are currently selling, there is still a long time to go before the peak of the current market cycle.
SEC sues Bitcoin mining company Geosyn, accusing its founder of $5.6 million fraud
The U.S. SEC has filed a lawsuit against Bitcoin mining company Geosyn Mining and its co-founder, accusing them of defrauding investors of $5.6 million by misrepresenting the number of crypto mining equipment in operation and using customer funds for personal expenses.
Hong Kong Stock Exchange to Start Trading Harvest Fund’s Bitcoin and Ethereum Spot ETFs on April 30
The Hong Kong Stock Exchange will begin trading Harvest's Bitcoin and Ethereum spot ETFs on April 30. Jinse Finance previously reported that the Hong Kong Securities Regulatory Commission's official website previously listed the Bitcoin and Ethereum spot ETFs of three fund companies, China Asset Management, Bosera and Harvest. Among them, Harvest Bitcoin Spot ETF (BUT244), stock code 03439, 09439; Harvest Ethereum Spot ETF (BUU885), stock code 03179, 09179.
ViaBTC auction of rare satoshis for Bitcoin’s fourth halving block ends, with the highest bid reaching 33.3 BTC
ViaBTC has entrusted CoinEx to conduct an auction of rare "epic sats" of Bitcoin's fourth halving block, which has ended with the highest bid reaching 33.3 BTC, equivalent to approximately $2,134,452. The first satoshi mined in the first block of each halving period is called an "epic sat" because it has potential collectible value through the Ordinals protocol.
Ethereum
Insider: US SEC expected to reject spot Ethereum ETF next month
VanEck, ARK Investment Management and seven other issuers have filed applications with the U.S. Securities and Exchange Commission (SEC) to launch Ethereum spot ETFs. The SEC must decide on the applications of VanEck and ARK on May 23 and May 24, respectively. The two companies are the first in line to apply. And four people familiar with the matter said that after frustrating talks with the relevant companies in recent weeks, the SEC is expected to reject the two companies' applications to launch Ethereum spot ETFs.
Ethereum 185th ACDE Meeting: Discussing L1 and L2 Governance Processes
The 186th meeting of the Ethereum Core Developers Executive Conference (ACDE) was held, and developer timbeiko.eth compiled the meeting minutes, which covered devnet-0 updates, potential changes to EIP-3074, how non-client stakeholders should participate in the process, EOF, SSZ, and L1 and L2 governance processes.
Celo developer cLabs proposes to use OP Stack to develop Ethereum Layer 2
Celo core developer cLabs proposed to use OP Stack to develop its Ethereum Layer 2 chain. After evaluating various expansion technologies for eight months, cLabs chose OP Stack for development. The Celo community approved the proposal to migrate to Ethereum Layer 2 through a governance vote last July. It is planned to deploy a testnet in the summer of 2024 and conduct a community vote.
An Ethereum pre-mining address that has been dormant for 8.7 years has been activated, containing 197 ETH
According to the on-chain data tracking service Whale Alert, an Ethereum pre-mining address that has been dormant for 8.7 years has been activated, containing 197 ETH, currently worth approximately US$622,685. These ETH have now been transferred to the address starting with "0x409e".
21.co Strategy Analyst: More than 15% of Ethereum on Beacon has been staked through EigenLayer
The Dune Analytics dashboard shared by 21.co strategy analyst Tom Wan shows that more than 15% of ETH on the Beacon chain has been staked through EigenLayer. A total of 4.9 million ETH, worth about $15.42 billion. Of these, 3.1 million ETH were reset natively, mainly through liquid pledge protocols. 1.7 million ETH were restarted through liquid pledge tokens, of which Lido's stETH accounted for 1 million stETH deposits. Of Ethereum's total supply of 122 million ETH, about 26% is hosted on the Beacon chain. EigenLayer first began accepting deposits for its protocol in June 2023.
other projects
Tether CEO: We are hiring AI experts to form a team to focus on local privacy protection models
Tether CEO Paolo Ardoino posted on social media that Tether is hiring artificial intelligence experts to form a well-funded team to focus on local privacy protection models. By using thousands of GPUs, we can play a role.
WeChat Pay supports multiple scenarios for overseas visitors to China to use digital RMB for convenient payment
Under the guidance of the Digital Currency Research Institute of the People's Bank of China, Tencent's digital RMB project team has innovated with functions such as "barcode intercommunication" and "wallet quick payment". After opening a digital RMB wallet, people from abroad can use the digital RMB App to scan the WeChat Pay commercial payment code and business payment code to pay at more than one million merchants in the digital RMB pilot areas. The project team is jointly operated by Tenpay and WeBank. Users can also open "WeChat Pay" under the wallet quick payment function. This function now supports people from abroad who have opened digital RMB wallets of Bank of China, Industrial and Commercial Bank of China, China Construction Bank and Bank of Communications. (Securities Times)
Galxe launches GAL staking feature
Web3 infrastructure Galxe announced the launch of the GAL staking feature, through GAL staking, users can access Galxe Earn and use their staked GAL tokens to participate in unique airdrop activities. GalxeEarn's genesis reward pool includes collaborations with Arbitrum, Polyhedra, and Merlin, with a total allocation of nearly $5 million in rewards.
The adoption of Layer2 and other solutions will be driven by the increase in Bitcoin transaction fees
Bitcoin Core developer Ava Chow said that any factor that causes transaction fees to soar may prompt people to seek other solutions. The Lightning Network is an option, and there are also Layer2 networks like Fedimint, Ark, and many others. The high fee environment will prompt people to investigate them. A recent report from Messari echoed this, arguing that with the continuous increase in on-chain activity levels, Bitcoin's Layer 2 solutions are not only a luxury, but a necessity. Analyst Nikhil Chaturvedi wrote that Bitcoin is no longer just "digital gold" but a platform for building.
Bitcoin L2 Network Stacks’ ‘Nakamoto’ Upgrade to Activate in May
Bitcoin L2 network Stacks began an upgrade called "Nakamoto", which started at Bitcoin block height 840,360 and aims to solve network congestion problems. Network creator Muneeb Ali said that Stacks' initial design produced blocks at the same speed as Bitcoin, which led to congestion problems. This upgrade will separate Stacks' block production schedule from Bitcoin's. "Nakamoto" will introduce a new way of producing Stacks blocks and update its unique proof-of-transfer consensus algorithm. The upgrade will be fully activated in May.
