Golden Weekly is a weekly blockchain industry summary column launched by Golden 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 a glance at the progress of mainstream projects and star projects this week.
Bitcoin
Cathie Wood: Bitcoin will rise to $1.5 million in 2030
HashKey Capital CEO DC and ARK Invest CEO and Chief Investment Officer Cathie Wood held a roundtable dialogue at the opening ceremony of the Hong Kong Web3 Carnival. When asked about her prediction for Bitcoin prices, Cathie Wood said, "I've been asked from different angles. Our forecast for 2030 is $1.5 million, which is our bull market forecast. Now it's $66,000. If it was $600,000 last year, we've increased it to $1.5 million because the SEC has given institutions the green light to issue BTC spot ETFs. The optimal allocation, if institutions allocate 5% of their assets to Bitcoin, the price will rise to $1.5 million."
BlackRock adds five new authorized participants to the list of spot Bitcoin ETFs, including Goldman Sachs, Citadel, Citigroup, etc.
BlackRock today updated the list of authorized participants (APs) for its spot Bitcoin ETF (IBIT). According to the latest prospectus, BlackRock added five new authorized participants to the list, expanding the total number of APs from four to nine. Newly added firms include ABN AMRO Clearing USA LLC, Citadel Securities LLC, Citigroup Global Markets, Inc., Goldman Sachs & Co. LLC, and UBS Securities LLC.
The ETF, which is live from January 10, 2024, allows investors to gain exposure to Bitcoin without directly holding the digital asset.
Industry Insider: Morgan Stanley and UBS will both add Bitcoin ETFs to their platforms next week
According to cryptocurrency insider Andrew AP Abacus, both Morgan Stanley and UBS will add Bitcoin ETFs to their platforms next week. Citing an internal note from Morgan Stanley, Andrew said the bank "may announce" its move into Bitcoin ETFs "a few days before UBS launches."
Franklin Templeton: Ordinal drives resurgence of Bitcoin activity
Franklin Templeton's digital assets unit highlighted the rise of Ordinal Inscription in a new prospectus today. Franklin Templeton Digital Assets wrote that over the past year, there has been a resurgence in Bitcoin innovation and development activities. The positive momentum of innovation is mainly driven by Bitcoin NFTs (Ordinals), new alternative tokens (such as BRC-20 and Runes), Bitcoin Layer 2, and other Bitcoin DeFi.
Both Bitcoin and Ethereum options trading volume hit new highs in March, and CME futures open interest rose to $11.7 billion, a record high
According to TheBlock Pro data, in terms of Bitcoin and Ethereum options trading volume in March, both hit historical highs on March 29, with Bitcoin options trading volume reaching a new high of $46.75 billion, an increase of 18.5%; Ethereum options trading volume reached a new high of $20.99 billion, an increase of 23.6%. However, the open interest of Bitcoin options fell in March, a decrease of 1.9%, and Ethereum holdings also fell, a decrease of 6.6%.
In addition, the average monthly trading volume of Ethereum futures rose to $893.8 billion in March, an increase of 60.9%. The open interest of CME Bitcoin futures increased by 49.5% to $11.7 billion, a record high, and the daily avg volume increased by 114.8% to about $6.8 billion, also a record high.
Ethereum
The U.S. SEC Solicits Public Comments on Grayscale, Bitwise and Fidelity Spot Ethereum ETFs
The U.S. Securities and Exchange Commission solicits public comments on the three proposed ETFs, the Fidelity Ethereum Fund, the Grayscale Ethereum Trust Fund and the Bitwise Ethereum Trust Fund. Bloomberg analysts said that the silence of the U.S. Securities and Exchange Commission is not good news, so the optimism about the agency approving these products has declined. The SEC stated in the document on Bitwise: "The Commission is issuing this notice to solicit comments from interested parties on the proposed rule changes (as modified by Amendment No. 1)." The public comment period for the three proposed ETFs is 21 days.
The U.S. SEC filed a notice of amendment for Grayscale Spot Ethereum ETF (Conversion)
The U.S. SEC filed a notice of amendment for Grayscale Spot Ethereum ETF (Conversion), submitting Amendment No. 1 to the proposed changes to the listing and trading rules of Grayscale Ethereum Trust Fund shares.
In addition, the U.S. SEC filed a notice of filing for the Fidelity Spot Ethereum Equivalent Fund. Notice of proposed changes to the rules for listing and trading Fidelity Ethereum Fund shares pursuant to Section 14.11(e)(4) of the Exchange Rules "Commodity-based Trust Shares" Amendment No. 1.
Vitalik published an article outlining the next steps for Ethereum protocol simplification and node resource load reduction (Purge)
Ethereum co-founder Vitalik Buterin published a post entitled "Purge Instructions for the Next Steps for Ethereum Protocol Simplification and Node Resource Load Reduction".
Vitalik said that EIP-6780 in the Dencun hard fork removed most of the functionality of the SELFDESTRUCT opcode, simplifying the protocol by removing complexity and adding new security guarantees. So Vitalik marked it as an important part of the Purge, about other Purges that are happening. In addition, about what else may need to be purged,
Vitalik listed precompilation, history (EIP-4444), LOG reform, and migration to SSZ. Regarding precompilation, Vitalik pointed out that the demand for some precompilations is much lower than expected, and these precompiled functions are a huge source of consensus errors and a huge pain point for new EVM implementations.
Ethereum researcher Toni Wahrstätter published a research report on EIP-7623
Ethereum researcher Toni Wahrstätter published a research report on EIP-7623, which aims to increase the gas cost of calldata used for data availability purposes in Ethereum transactions. By setting the baseline gas price of non-zero bytes in calldata to 48 and the baseline gas price of zero bytes to 12, EIP-7623 aims to reduce the maximum block size from 3.5 MiB to about 1.9 MiB.
Wahrstätter’s research highlights a downward trend in Execution Layer (EL) payload sizes, suggesting that the existing maximum block size exceeds what is needed. The study observed that the average block size jumped fourfold from the earlier 125 KiB after the implementation of EIP-4844. The goal of EIP-7623 is to close the gap between the potential maximum block size and the average block size on the network.
The 131st Ethereum ACDC Teleconference: Discussion of EIPs that have been confirmed to be included in the Pectra upgrade
According to Christine Kim’s summary of the 131st Ethereum Core Developer Consensus (ACDC) Teleconference, it mainly includes Deneb upgrade-related (solving marginal issues such as aggravated block loss after the upgrade) and discussion of EIPs that have been confirmed to be included in the Pectra upgrade, including:
1. EIP-6110: Add the deposit information of the validator to the block structure of the execution layer to simplify the work of the consensus layer;
2. EIP-7002: The execution layer can trigger an exit;
3. EIP-7549: Move the committee index out of attestation;
4. EIP-7251: Increase the maximum effective balance.
Other projects
Telegram: Withdrawal function will be launched on Fragment in the coming weeks
Telegram has released a new reward system. Currently, public channel owners with at least 1,000 subscribers on Telegram can receive 50% of the revenue from the ads displayed on their channels. The withdrawal function will be launched on Fragment in the coming weeks. Channel owners can withdraw rewards for free or reinvest them in Telegram ads, collectible usernames, or premium giveaways. In addition, Telegram will launch a new type of ad that users can purchase with TON tokens.
Aave's new proposal proposes to adjust the risk parameters of DAI collateral, and LTV is set to 0
The Aave Chan Initiative (ACI) has launched a new ARFC proposal to adjust the risk parameters of the DAI stablecoin. The proposal proposes to adjust DAI's loan-to-value ratio (LTV) to 0% on all Aave deployments and remove sDAI incentives from the Merit program, effective from Merit Round 2 and beyond.
This move is intended to respond to MakerDAO's recent aggressive actions with the D3M program, which increased the risk of DAI as collateral by causing the DAI credit line to grow from zero to a predicted 600 million DAI in less than a month, and could increase to 1 billion DAI in the short term. Considering that only a small portion of DAI deposits are currently used as collateral on Aave, and users can easily switch to USDC or USDT as alternative collateral options, the proposal aims to mitigate potential risks without significantly affecting the user base.
Synthetix plans to launch a new governance proposal to add sUSDe LP collateral support on Arbitrum
Synthetix plans to launch a new governance proposal SIP-371, which aims to add sUSDe LP collateral support to Synthetix V3 on Arbitrum. For each liquidity provider (LP), the maximum collateral limit of LP is US$50 million. It is reported that the proposal will also be displayed for community users in the Synthetix Discord.
Binance Inscription Market Integrates ARC-20 Tokens
Binance Inscription Market has integrated Atomicals (ARC-20) tokens. Binance Web3 Wallet now supports multiple inscription tokens such as ARC-20 tokens, BRC-20 tokens and EVM tokens.
EU DLT pilot program stalled, ESMA seeks breakthrough
The distributed ledger technology (DLT) pilot system launched by the European Union has not made any progress in a year, and no infrastructure has been authorized yet. The European Securities and Markets Authority (ESMA) did not provide a progress report, but sent a letter pointing out five major problems, including cash on-chain issues, competitive challenges, and trading volume restrictions. ESMA called for a possible extension of the pilot system and the relaxation of trading volume restrictions to attract more participants. Among them, the Netherlands SME Stock Exchange NPEX is one of the potential applicants.
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