ETH Weekly | ETH2.0 contract collateral exceeds 2 million pieces; Uniswap becomes the largest Gas consumer in Ethereum (12.21-12.27)

Author | Qin Xiaofeng

Produced | Odaily

Produced | Odaily

1. Overall overview

1. Overall overviewOKLink data shows that as of 24:00 on December 27, the Ethereum 2.0 deposit contract address has received 2,067,970 ETH. In addition according toFlipside Crypto Team

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)

(data from Tokenview)

(data from Tokenview)

Tokenview dataIt shows that the number of transfers on the chain dropped sharply last week, and the number of large-value transfers of "above 5,000 ETH", "above 10,000 ETH" and "above 50,000 ETH" decreased by 15.9%, 19.2% and 75% month-on-month respectively. The frequency of changes is reduced.

 OKlink dataOKlink data

3. Ecology and technology

3. Ecology and technology

1. Technological progress

1. Technological progress

OKLink data shows that as of 24:00 on December 27, the Ethereum 2.0 deposit contract address has received 2,067,970 ETH.

according toaccording toFlipside Crypto Team

According to recent statistics, Ethereum 2.0 verifiers can currently obtain 0.002792 ETH per day. If calculated at a price of US$613 per ETH, this amount is roughly equivalent to more than US$1.71 per day.

Assuming each Ethereum 2.0 validator holds 32 ETH, 0.002792 ETH means a daily rate of 0.008725%. Converting based on this data, the compound annual interest rate for each Ethereum 2.0 validator holding 32 ETH is about 3.2%. (Ethereum World News)

According to official news, Ethereum 2.0 client Lighthouse development team Sigma Prime released Lighthouse v1.0.5. This release includes important fixes such as subnet discovery and dependency updates, in addition to support for redundant BN connections and macOS binaries. Sigma Prime recommends that all users update to this version.

2. Voice of the Community

2. Voice of the Community

(1) Co-founder of EthHub: The Ethereum Improvement Proposal EIP-1559 will be implemented soon, and a lot of ETH will be destroyed at that time

EthHub co-founder Eric Conner tweeted that the Ethereum improvement proposal EIP-1559 is about to be implemented. Then we burn a lot of ETH. We will have zero to negative issuance with security. It is reported that EIP-1559 attempts to reduce transaction costs by introducing a fixed fee and destruction mechanism, which was first proposed by Vitalik in 2018. This proposal is a mechanism to optimize the Ethereum transaction mechanism, aiming to make the transaction fees on the Ethereum network more predictable and solve the problem of the current "pay-as-you-go" charging model. Additionally, the fee structure for EIP 1559 will automatically adapt to network needs.

(2) Hudson Jameson will step down as the community manager of the Ethereum Foundation after the hard fork in Berlin

Ethereum Foundation community manager Hudson Jameson, who helped coordinate the Ethereum Core Developers meeting (AllCoreDevs), has decided to step down from the role after the Berlin hard fork, and ethereum developer Tim Beiko will take over. Hudson Jameson said in an interview that he will continue to stay at the Ethereum Foundation and will help in the transition of Ethereum 2.0, but the functions will be less than now.

Mike Novogratz, founder of Galaxy Digital, said that few encrypted assets can stand the test of time and become a durable store of value other than Bitcoin. He added, however, that he increasingly believes the ethereum community will help people reshape the future of finance. (CryptoNews)

3. Project trends

3. Project trends

(1) DeversiFi and Loopring form the L2 Squared alliance to improve second-layer solutions

Decentralized exchanges DeversiFi and Loopring announced a partnership to form the L2 Squared alliance to improve scalability solutions based on layer-two technologies.

The L2 Squared Alliance will run an educational campaign explaining how the technology works and what advantages it has over common Ethereum use cases, and drive more wallet integrations. On a technical level, the consortium will work on developing composability standards between Layer 1 and Layer 2 and between different Layer 2 systems. (Cointelegraph)

According to official news, Brantly Millegan, Director of Operations of the Ethereum Domain Name System (ENS), said that the ENS App now supports adding 109 addresses on the blockchain to the ENS domain name record, which means that users can set up an ENS domain name to receive 109 addresses. Native tokens on blockchains, and tokens or assets issued on those blockchains.

4. Borrowing

Defipulse4. Borrowing

The data shows that the value of locked-up collateral on the chain dropped from US$16.77 billion to US$13.309 billion last week, a decrease of 20.6% in the week; %. Specifically, the amount of ETH mortgages rose from 7.182 million to 7.305 million last week, an increase of 1.7%.

image description                         

(data from etherchain.org)

etherchain.org(data from etherchain.org)

According to data from OKLink, as of December 22, the gas cost of Ethereum during the year totaled about 1.4555 million ETH, an increase of 679% from 2019, accounting for 30% of the new supply of Ethereum throughout the year.

4. News

4. News

(1) Uniswap is currently the largest Gas consumer on Ethereum

According to CoinDesk, Uniswap has been the most expensive decentralized application (DApp) since November 13, followed by Tether, which accounts for 11% of Ethereum’s total fees.

(2) Grayscale Cryptocurrency Trust Fund is temporarily closed to new investors

Grayscale Investments LLC announced last Monday that its bitcoin, bitcoin cash, ethereum, ethereum classic, litecoin and Grayscale Digital Large Cap funds are currently not accepting new investors. Grayscale is said to periodically close its cryptocurrency trust for so-called “private placements.” GBTC has done this repeatedly throughout the fourth quarter of 2019, so Monday's pause is not unusual. Even though it is temporarily closed to new investors, Grayscale will still be able to secure additional capital from existing investors until it reopens to new investors again. A sharp slowdown in GBTC inflows could increase the chances of a Bitcoin price correction, JPMorgan analysts said on Monday. (CoinDesk)

(3) The U.S. government will try Ethereum developer Virgil Griffith in September next year

Judge P. Kevin Castel of the U.S. District Court for the Southern District of New York stated that a full trial of Ethereum developer Virgil Griffith will be held in September 2021.

In previous news, on November 29 last year, the U.S. Attorney's Office for the Southern District of New York and the FBI announced that they had arrested and charged Ethereum developer Virgil Griffith for violating U.S. sanctions. He was charged by the federal government with illegally traveling to North Korea in April and making a presentation at the "Pyongyang Blockchain and Cryptocurrency Conference." (CoinDesk)

(4) Data: The annual transaction volume of the Dex protocol on Ethereum exceeds 100 billion US dollars