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

DeFi data

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

DeFi total market value data source: coingecko

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

Source of transaction volume data from decentralized exchanges in the past 24 hours: coingecko

3. Locked assets in DeFi: US$106.538 billion

DeFi project locked assets ranking and locked positions data source: defilama

NFT data

1.NFT total market value: US$23.754 billion

The top ten NFT projects ranked in total market value and market value data source: Coinmarketcap

2.24-hour NFT trading volume: US$ 3.049 billion


The top ten NFT projects ranked in total market value and market value data source: Coinmarketcap

Top NFTs within 3.24 hours

NFTs with the top ten sales gains within 24 hours Source: NFTGO

Headlines

Ethereum Foundation Researcher: With the decrease in issuance, Ethereum will become a super-stable currency

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

MEME hot spots

1. AI detects the Meme coin video released by the President of the Central African Republic may be in-depth forged, and the authenticity of the project has been questioned by many parties.

On February 10, President of the Central African Republic Tuadera announced the issuance of the official meme coin CAR on the X platform this morning, saying that this is an "experiment" to promote national development. But the announcement video was marked as suspicious by two AI deep forgery detection tools. According to GMGN market data, CAR's market value has now exceeded US$700 million. The authenticity of the project has been questioned by many parties. Two detection models from Deepware, an AI deep-fake detection platform, show that the president's video statement is highly suspicious, with one of the models pointing out that the video is 82% likely to be 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 does not comply with government operating specifications. The domain name service provider Namecheap has suspended related services, but the project website is still running. In addition, industry insiders questioned that the release time was midnight in the local area and that the practice of publishing announcements in English rather than the official language French was unreasonable. At present, the official X account of the project @Carmeme_news has been banned by the platform.

2. The President of Maldives is suspected to launch MLDVS tokens

According to Golden Finance, Maldives President Mohamed Muizzu posted on the X platform that it will launch $MLDVS tokens on the Solana network, aiming to use digital culture to unite the people and promote the Maldives to the global crypto market. However, the post closed the comments and is not sure whether its account was hacked. Please be vigilant and pay attention to investment risks.

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

Golden Finance reported that Faryar Shirzad, chief policy officer of Coinbase, shared the principles of launching Meme coins on the trading platform in an interview with Bloomberg, saying: "We try not to involve any background story of tokens, but we use strict standards to ensure that Cybersecurity, assess potential scams, and determine whether they comply with securities standards. Our processes remain calm and rigorous."

DeFi hotspots

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

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

2. Bitcoin network transaction fee is reduced to 1 Satoshi/byte, and Ethereum Gas fee is reduced to less than 1 gwei

According to Golden Finance, Mempool.space data shows that the transaction fee (Gas fee) of the Bitcoin network has been reduced to 1 Satoshi/byte, about $0.14. Etherscan data shows that the median Ethereum Gas fee price is currently about 0.9 gwei, about $0.05.

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

On February 10, DePIN project Hivello received a strategic investment led by Animoca Brands. The specific amount has not been disclosed yet. The funds raised will be used for further innovation to simplify the DePIN node and make it more user-friendly. Hivello is a DePIN aggregator, where 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, and Blockchange and others participated in the investment.

4.Avail Lianchuang: Most current chain abstract technologies make the encryption 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 basic layer has its own set of security assumptions. Making interoperability between chains challenging. "They have their own set of validators and crypto economic security. So you have to create infrastructure called light clients, such as two-way light clients. This is often the main bottleneck," Arjun explained. Bridges between chains are often a multi-step process of communication between blockchain networks, which has high cost and security risks while isolating users and capital into fragmented pools.

5. Alliance DAO Lianchuang: The same project was launched on Ethereum L2 and no one cares about it, Solana has relatively better results

On February 10, Alliance DAO Qiao Wang said in its latest podcast video, "A year ago, I thought there was no difference in the development project on Ethereum L2 or Solana, but after nearly a year of observation and comparison, it was found that the same The startup projects have no transactions and users on Ethereum L2, but are much more active on Solana. "So Qiao Wang suggests that crypto startup projects should be released in Solana.

Disclaimer: As a blockchain information platform, the content of the articles published by Golden Finance is for information reference only and is not used as actual investment advice. Please establish the correct investment philosophy and be sure to improve your risk awareness.