ETH Weekly Report | The price of Grayscale Ethereum Trust fell by half from the high point; PayPal Finance launched the Ethereum mining pool (6.22-6.28)
Author | Qin Xiaofeng
Author | Qin Xiaofeng
Produced | Odaily
1. Overall overview
1. Overall overviewNic CarterCryptocurrency asset manager Grayscale’s Ethereum Trust (ETHE) hit a monthly bottom of $82.5 last week, down 65% from its yearly high of $239 reached around June 4. Additionally, its premium (relative to the underlying asset’s spot ETH price) has also fallen to 356% from 948% in early June. Co-founder of research institution Coin Metrics
Second, the secondary market
Second, the secondary market
1. Spot market
image description
(ETH daily chart, picture from OKEx)
(ETH daily chart, picture from OKEx)
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(data from BiNuNiu)
(data from BiNuNiu)
In terms of capital, capital fluctuated greatly last week, with the largest net inflow on Monday, exceeding US$20 million; and the largest net outflow on Wednesday, exceeding US$45 million.
(data from Tokenview)
(data from Tokenview)
Tokenview dataTokenview data
Last week, there were a total of 25 transfers of "more than 50,000 ETH", the largest transfer amount was 789,000 ETH, which was due to the change of PlusToken's defrauded funds; in addition, the top 100 addresses on the rich list sent 6 new addresses (each 80,000 ETH) Inwarded a total of 480,000 ETH; Bittrex wallet transferred 80,000 ETH to 5 different new addresses, totaling 400,000 ETH; there were two transfers totaling 250,000 ETH, which were between Binance internal wallet addresses; the remaining transfers were unknown .
OKlink data3. Ecology and technology
3. Ecology and technology
1. Development and technology
(1) Ethereum 2.0 Altona v0.12 testnet will be launched on June 29
(2) Ethereum 2.0 progress: the deposit contract has been rewritten from Vyper to Solidity language and re-verified
Ethereum developers are seeking more funding from the community for Ethereum Improvement Proposal EIP 1559. In this regard, the community fund of Gitcoin, an open source software funding platform, will provide bonuses and incentives for testers who participate in EIP 1559. The Gitcoin Community Fund was purportedly launched yesterday, with more than 36 Ether and $16,216 worth of stablecoin DAI in the project’s pool. Gitcoin will make some donations. (Decrypt)
2. Voice of the Community
(1) Vitalik: Improving the gas limit in the short term is the only way to expand capacity
(2) Messari analyst: There is no immediate reason why ETH must rise when DeFi tokens soar
Watkins pointed out that some DeFi tokens, such as Compound or Balancer, can be purchased directly from Coinbase or Uniswap for U.S. dollars, thus eliminating the need for an "Ethereum bridge" in 2017. He added: "In the past two years, Ethereum has transformed from a piggy bank for ICO projects to a rapidly growing digital economy." Watkins also said that utility is the core driver of any currency. For example, the reasons why the US dollar is more valuable than the Venezuelan bolívar include overall utility, global acceptability, and fundamental value. With key events like ETH 2.0 on the horizon, it doesn't look like Ethereum's utility will be replaced anytime soon. (CryptoSlate)
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 448,500 ETH (approximately 98.67 million U.S. dollars), an increase of 39.1% from the previous week; up 10.8%.
according to
4.Dapp
according toDappreview dataimage description
5. Mining
(data from etherchain.org)
etherchain.orgThe data shows that the average computing power decreased by 1.12% month-on-month, temporarily reporting 185 TH/s; the average mining difficulty decreased by 1.7% month-on-month, temporarily reporting 2311 T; the activity of miners continued to increase, and new addresses increased by 18% month-on-month; the total mining revenue The month-on-month increase was 3.79%, but it was still lower than the 11.2% in the previous two weeks.
4. News
1. Data: The total number of non-zero addresses in Ethereum reached a new high
On June 28, Glassnode data showed that the total number of non-zero addresses in Ethereum hit a new high, reaching 42,472,084. The previous high of 42,468,719 was on June 27, 2020.
2. Ethereum network transaction fees have surpassed Bitcoin transaction fees for two weeks
3. Grayscale Ethereum Trust price has fallen 65% from June highs
Cryptocurrency asset manager Grayscale’s Ethereum Trust (ETHE) hit a monthly bottom of $82.5 last week, down 65% from its yearly high of $239 reached around June 4. Additionally, its premium (relative to the underlying asset’s spot ETH price) has also fallen to 356% from 948% in early June.Nic CarterCo-founder of research institution Coin Metrics
4. Miners execute a large number of small transactions, and the number of daily transactions on the Ethereum network exceeds 1 million
With the rise of stablecoins and DeFi tokens, the number of daily transactions on the Ethereum network is approaching all-time highs. This is allegedly related to some miners performing a large number of small transactions.
Recently, Ethereum’s daily transaction volume surged to 1.1 million, its second highest since reaching 1.35 million in early 2018. At the same time, miners also have some unusual behavior. According to Trustnodes, the Ethermine mining pool executed more than 13,000 transactions in 24 hours for 0.05 ETH worth roughly $11.70 or less. Miners like SparkPool and Nanopool also flood the network with small transactions for short periods of time. (Cointelegraph)
5. The PayPal Finance Ethereum mining pool was officially launched and the first block was dug out
On June 24, the Ethereum mining pool under PayPal Finance was officially launched, and the first Ethereum block was officially dug out at block height 10327266. The message on the block was "BABELPOOL/HELLO_ETH".
