Over $63 million in LINK transferred; European Bitcoin Masters Program launched

Headlines

▌Over $63 million of LINK was transferred from an unknown wallet to an unknown wallet

According to Whale Alert monitoring, around 23:08 Beijing time on May 25, 3,696,603 LINK (63,457,080 US dollars) was transferred from an unknown wallet to an unknown wallet.

▌Zurich University of Applied Sciences launches Europe's first master's program dedicated to Bitcoin

Zurich University of Applied Sciences will launch Europe's first master's program dedicated to Bitcoin. Bitcoin Economics HWZ CAS is a comprehensive course for students in the financial industry.

Market

As of press time, according to Coingecko data:

BTC's latest transaction price is $69158.24, with a daily increase or decrease of +0.88%;

ETH's latest transaction price is $3748.25, with a daily increase or decrease of +0.90%;

BNB's latest transaction price is $601.78, with a daily increase or decrease of +0.29%；

SOL's latest transaction price is 167.85 US dollars, and its intraday increase or decrease is +1.03%；

DOGE's latest transaction price is 0.1721 US dollars, and its intraday increase or decrease is +5.63%；

XPR's latest transaction price is 0.5407 US dollars, and its intraday increase or decrease is +1.10%.

Policy

▌Paraguayan authorities arrested nearly 400 Bitcoin miners in the city of Sapucay

According to Bitcoin News, Paraguayan authorities have arrested nearly 400 Bitcoin miners in the city of Sapucay. The operation was jointly carried out by the police and the National Electricity Administration (ADE) as part of an investigation into suspected electricity theft.

▌US Senator: Will work to protect the right of every American to keep their own private keys

According to Bitcoin Magazine, US Senator Cynthia Lummis said that if it is not your private key, it is not your cryptocurrency. I will work to protect the right of every American to keep their own private keys.

Blockchain Applications

▌Polygon Growth Director: Layer 3 sacrifices some sovereignty and relies on governance and fee extraction imposed by L2

Polygon Growth Director Texan published several views on "Layer 3" on the X platform: · Some people propose to use L3 to solve the problem of encryption expansion, but they have many disadvantages; · Aggregated L2 has all the advantages but no disadvantages and can truly achieve encryption expansion; · Some L3s can achieve interoperability within a single L2 ecosystem, but this will still disperse liquidity and users by building a moat; · Many L3 models that rely on L2 for settlement include fee extraction; · L3 sacrifices some sovereignty and relies on governance and fee extraction imposed by L2.

▌Horizen Foundation's request for ZEN and EON migration proposal has been approved

Horizen Blockchain announced that the ZenIP 42405 vote: Instructing the Horizen Foundation to request a migration proposal for ZEN and EON has ended. 99.99% of the votes in favor indicate that the proposal has been passed.

Cryptocurrency

▌Trump: Positive and open to cryptocurrency companies and related industries

Donald Trump clearly expressed his support for cryptocurrency on Truth Social. Trump said: "Positive and open to cryptocurrency companies and related industries. Our country must be a leader." He also criticized Biden for wanting the crypto industry to "slowly and painfully die."

▌Jupiter's third round of LFG Launchpad voting has ended, deBridge is the selected project

Solana Ecosystem DEX Jupiter posted on the X platform that the third round of LFG Launchpad voting has ended, deBridge won with 59% of the votes, and will be launched on LFG Launchpad in the next few months. Earlier news, deBridge announced its governance token DBR. With a total supply of 10 billion, DBR aims to decentralize governance to the community and transfer control to the DAO. deBridge's token distribution plan allocates 20% of the supply to Launch and its community, and the circulating supply of DBR at the time of issuance is 1.8 billion. Of the remaining supply, 26% will be allocated to support its ecology, 20% will be allocated to core contributors, 17% will be allocated to strategic partners, 15% will be allocated to the deBridge Foundation, and 2% will be allocated to validators.

▌NEAR chain native issuance of USDC exceeds 200 million

According to official news, NEAR Protocol native issuance of USDC exceeds 200 million.

▌The total market of crypto-specific hedge funds has grown to 21 billion US dollars

Joshua de Vos, head of research at data provider CCData, said that the bankruptcy of hedge funds Three Arrows and Alameda Research provided an opportunity for new participants to enter after the market rebound. Among the surviving funds, many have achieved double-digit and triple-digit percentage returns in recent months. de Vos said that given the cyclical nature of cryptocurrencies, it is very likely that new crypto-native funds will emerge to help fill the gaps left by these entities and take advantage of new opportunities that emerge in this cycle. According to tracking agency Galaxy VisionTrack, the total crypto-specific hedge fund market has grown from $16.3 billion in December to $21 billion for the first time since October 2022. CoinGecko released the 2024 RWA report. The report said that at present, most real-world assets (RWA) are stablecoins pegged to the US dollar. The top three US dollar stablecoins alone account for 95% of the market share, with Tether (USDT) having a market value of $96.1 billion, USDC (USDC) having a market value of $26.8 billion, and Dai (DAI) having a market value of $4.9 billion. USDT continues to dominate with a market share of 71.4%. Meanwhile, after a brief decoupling during the US banking crisis in March 2023, USDC's market share plummeted and has not recovered to date. Stable assets other than US dollar-pegged stablecoins account for only 1% of the market. These assets include other fiat currencies such as Euro Tether (EURT), Offshore Chinese Yuan Tether (CNHT), Mexican Peso Tether (MXNT), Euro-Dollar (EURC), StasisEuro (EURS), and TRYB. The market value of stable assets soared from $5.2 billion at the beginning of 2020 to a peak of $150.1 billion in March 2022, and then gradually declined throughout the bear market. However, its market value increased by 4.9% in 2024, from $128.2 billion at the beginning of the year to $134.6 billion on February 1.

Important Economic Dynamics

▌U.S. Treasury Secretary: High interest rates test U.S. debt

U.S. Treasury Secretary Yellen said that the prospect of interest rates remaining at a high level in the long run makes it more difficult to control U.S. borrowing needs, highlighting the importance of focusing on increasing fiscal revenue in budget negotiations with Republican lawmakers. "We have raised our expectations for interest rates, and that does have an impact. That makes it more challenging to keep deficits and interest payments under control," Yellen said, reiterating the ratio of inflation-adjusted interest payments to GDP. The ratio has risen over the past year, but the White House expects it to stabilize at around 1.3% over the next decade. "I don't have a hard and fast rule, but I don't want to see it go above 2%," she said. This is her most explicit comment on this metric so far.

▌The current pace of new cryptocurrency fund launches is much lower than the heyday of 2017

According to Crypto Fund Research data, the current pace of new cryptocurrency fund launches is much lower than the heyday of 2017, when about 73 new funds were launched each quarter, more than double the total number of crypto funds that year. In addition, financing for new funds is still not as easy as before. In venture capital, the financing scale of new funds tends to be smaller than in 2021 and 2022 because there are fewer new investors entering the field. According to VisionTrack data, only $2.62 billion was invested in 631 venture capital deals in the first quarter. This is lower than the $2.9 billion invested in 781 deals in the same period last year, and is only a small part of the $7.2 billion invested in 817 deals in the first quarter of 2021.

▌The three major U.S. stock indexes closed down collectively, and most popular technology stocks fell

The three major U.S. stock indexes closed down collectively, with the Dow Jones Industrial Average falling 1.53%, the worst single-day performance since March 2023, the Nasdaq fell 0.39%, the S&P 500 fell 0.74%, and most popular technology stocks fell. Nvidia rose more than 9% against the market, Intel fell more than 4%, Tesla and AMD fell more than 3%, Apple fell more than 2%, Google and Amazon fell more than 1%.

Golden Encyclopedia

▌What is a reentrancy attack in a smart contract?

In a smart contract, a reentrancy attack occurs when a contract calls another contract or function from the outside before completing its own state change. This allows the called contract to reenter the calling contract and potentially execute some of its operations again, which can lead to unforeseen and frequent malicious behavior. For example, contract A calls contract B to send funds and then modifies its own state. Contract B's code may contain a callback function that allows it to reenter contract A and potentially re-execute the transfer function before contract A completes its state change. This would allow an attacker to obtain funds from the contract multiple times before completing the initial transaction.

Disclaimer: As a blockchain information platform, Golden Finance publishes articles for information reference only and is not intended as actual investment advice. Please establish a correct investment philosophy and be sure to raise your risk awareness.