ETH Weekly | V God predicts that the supply of ETH is 40 million less than the original estimate; developers expect Eth2.0 to go online in November (6.15-6.21)
Author | Qin Xiaofeng
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Produced | Odaily
1. Overall overview
1. Overall overview
Second, the secondary market
Second, the secondary market
1. Spot market
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(ETH daily chart, picture from OKEx)
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2. Fund flow
(data from BiNuNiu)
(data from BiNuNiu)
In terms of capital, capital fluctuated greatly last week, with the largest net inflow on Tuesday, exceeding US$15 million; and the largest net outflow on Monday, close to US$90 million.
(data from Tokenview)
(data from Tokenview)
Tokenview dataTokenview data
It shows that the number of transfers on the chain rose slightly last week, the number of large-value transfers of "above 5,000 ETH" and "above 50,000 ETH" increased by 5% and 3% month-on-month, respectively, but the number of transfers of "above 10,000 ETH" increased by 50% month-on-month ;The frequency of giant whale account changes has increased, and the market may change in the near future, so pay close attention to the giant whale's transfer situation.CompoundLast week, there were a total of 6 transfers of "above 50,000 ETH", with a maximum transfer amount of 100,000 ETH, which was transferred to an unknown address twice to
Smart contract; there is a transfer of 60,000 ETH between two top 300 addresses on the rich list, which is suspected to be hoarding coins; there is a transfer of 50,000 ETH, which is a transfer between Binance internal wallet addresses; another 97,500 ETH The transfer is between an unknown address.Okey Cloud Chain3. Ecology and technology
3. Ecology and technology
1. Development and technology
(1) The Ethereum research group Matter Labs has deployed the Layer 2 extension tool zkSync
(2) Reddit invites developers to submit Ethereum expansion proposals for their encryption projects
(3) ETH miners voted to increase the gas limit to 12.5 million
On June 19, Bitfly (the parent company of Ethermine mining pool) officially tweeted that Ethereum miners are voting to increase the gas limit of the Ethereum network from 10 million to 12.5 million. In theory, the move means the ethereum network is now processing 44 transactions per second instead of 35, another milestone for the community. The current Ethereum network Gas upper limit is 10 million. The previous community proposal, EIP 1559, focused on changing the Ethereum fee market.Peter SzilagyiHowever, Ethereum core developers
However, he voiced his opposition to "increasing the gas limit to 12.5 million", Peter believes that Ethereum miners don't care about the long-term health of the network at all. As the gas limit increases, the blockchain size will become larger, which makes it more difficult and expensive to sync and run a full node, while also causing some DoS issues.
On June 17, Ethereum core developer Péter Szilágyi tweeted that the latest version of the Ethereum client Geth will be released soon, and a function will be added to the new version, that is, transactions with a fee greater than 1 ETH will be rejected. But the client will still broadcast such remote transactions. Regarding the release of this function, some netizens asked whether it was set because of the sky-high transaction fee on the Ethereum chain that appeared last week, to which Péter Szilágyi gave an affirmative reply. (Twitter)
2. Voice of the Community
(1) V God: The supply of Ethereum is 40 million less than the original white paper estimate
On June 17, Vitalik Buterin tweeted that the supply of Ethereum was 40 million less than estimated in the original white paper. This, he argues, disproves the theory that Ethereum is ruled by an inflationary technocrat. (Cointelegraph)
(2) Ethereum developers: If all goes well, ETH 2.0 will be launched in November
June 17. Ethereum multi-client testnet developer Afri Schoedon said that if all goes well, ETH 2.0 will be launched in November. A more optimistic statement is that if the work is accelerated, it can be launched in October. But also be mentally prepared, if there is a place in the specification that needs to be fixed, and all clients have to implement the new specification again, then it may not be online until 2021. I personally feel that ETH 2.0 will not be launched in December.
(3) Bitfinex Chief Technology Officer: Ethereum 2.0 is likely to be the focus of hackers
Eliézer Ndinga, a research associate at the investment firm 21Shares, said: "The transition from the current Ethereum blockchain to Ethereum 2.0 requires users to transfer their ETH between blockchains, which may cause problems for users who try to do this themselves. Certain risks, although exchanges and other custodians may help in the process.” (Cointelegraph)
3.DEX
according toDAppTotal.com DEXaccording to
The data on the special page shows: 17 DEX projects based on the Ethereum network have been counted. The transaction volume on the chain in the past week totaled 322,200 ETH (about 74.1 million U.S. dollars), a decrease of 9.4% from the previous week; the total number of transaction users on the chain in the past week was 30,750. down 11.3%.
according to
4.Dapp
according toDappreview data, Dapps on the ETH chain added 41 Dapps last week, and the cumulative number of developments reached 4,391; "399Energy", the new Dapp with the largest transaction volume in seven days, has a transaction volume of more than 421 ETH (about 97,000 US dollars). 399Energy is a capital project based on Ethereum. It obtains income through solicitation, which is extremely risky, so stay away as much as possible.
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(data from etherchain.org)
etherchain.org(data from etherchain.org)
The data shows that the average computing power increased by 2.41% month-on-month, temporarily reported as 187.1 TH/s; the average mining difficulty increased by 2.62% month-on-month, temporarily reported as 2351 T; the activity of miners picked up slightly, and the new addresses increased by 1.57% month-on-month; the total mining revenue The chain fell by 14.45%, but it was still higher than the 7.3% in the previous two weeks.
In addition, in response to the previous sky-high fees, each mining pool has also made the latest progress:
On June 15, the Ethermine mining pool stated that it had decided to allocate 10,668 ETH handling fees to the miners because the transaction sender did not take the initiative to contact them.
On June 18, F2Pool decided to refund 90% of the abnormal handling fee (2079 ETH), and the remaining 10% (231 ETH) will be used for the one-week zero-fee mining activity of ETH, and the shortfall will be borne by F2Pool.
(Mining difficulty changes)
4. News
1. Data: The number of addresses with a balance greater than 0.01 ETH continues to refresh
2. Opinion: The annualized rate of return of stablecoins for Ethereum DeFi users soars, and multiple risks need to be vigilant
On June 19, former Bloomberg reporter Camila Russo said that in the past 7 days alone, the total value of locked assets in DeFi has increased by 40%, and some Ethereum users’ stable currency yields (annualized yields) have exceeded 100% in the past week. %.
However, the high yields offered by DeFi applications are not without risks. MultiCoin Capital encryption analyst and investor Tony Sheng pointed out that investors who try to seek high stablecoin yields face five major risks:
Smart contract loopholes in lending agreements;
Smart contract loopholes in the underlying assets, whether USDC, USDT or altcoins;
Liquidation events that result in lenders losing their cryptocurrency, which can be triggered by large fluctuations in the price of Ethereum or other cryptocurrencies;
Failures in protocol economic design, which may be caused by inappropriate incentives;
User error.
3. Six institutions including ConsenSys Codefi and Binance pilot Ethereum 2.0 Staking service
