Guosheng Blockchain: DeFi ecology, Ethereum 2.0 lock-up pushes the price of ETH to a new high

Summary

The Ethereum EIP1559 proposal has been basically completed or will be launched this summer. The amount of Ethereum 2.0 mortgages continues to increase, the DeFi ecosystem continues to be active, and the price of Ethereum has hit a record high. According to Trustnodes report, Ethereum developer Tim Beiko said that the Ethereum improvement proposal EIP-1559 has been basically completed, and now only needs to be tested for block size, which is expected to be launched this summer. Beiko said that the proposal has already been implemented in the Besu, Geth and Nethermind clients, while the OpenEthereum client has not yet started. EIP-1559 attempts to reduce transaction fees by introducing a fixed fee and burn mechanism. EIP 1559, first proposed by Vitalik in 2018, is expected to make the fee market on the Ethereum blockchain more predictable and ease congestion. Recently, the DEFI ecosystem is very active, and the currency index continues to hit new highs. According to the data of defipulse, the total lock-up volume of the DeFi market exceeds 26 billion US dollars. The top three ecological projects are Maker, Aave, and Uniswap. On the other hand, the ETH mortgaged on the Ethereum 2.0 beacon chain has exceeded 2.2 million, accounting for about 2% of the total circulation. Driven by ecological applications such as DEFI and Ethereum 2.0, a large amount of eth has been locked, so the price of Ethereum continues to hit new highs, reaching a maximum of $1,475, with a market value of around $162 billion.

Risk warning: Uncertainty in regulatory policies, blockchain infrastructure development is not up to expectations.

Risk warning: Uncertainty in regulatory policies, blockchain infrastructure development is not up to expectations.

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1. The defi ecology and Ethereum 2.0 jointly push up the price of ETH, and the digital currencies of central banks in various countries continue to advance

The digital currencies of the central banks of various countries continue to advance steadily. According to Cointelegraph, the Bank of France successfully piloted a central bank digital currency (CBDC) in December last year, and for the first time used the technology to settle monetary fund shares on a private blockchain platform. Recently, the Bank of France announced that investors bought and sold simulated shares worth 2 million euros ($2.4 million) using the CBDC. The pilot project uses distributed ledger technology provided by SETL, a regulated blockchain service provider in the United Kingdom that also offers a CBDC stablecoin. SETL's IZNEZ record-keeping platform is used to track movement of fund shares. According to the Securities Times, major cities such as Beijing, Shanghai and Shenzhen have accelerated the pilot work of digital renminbi. On January 23, the fourth meeting of the 15th Beijing Municipal People's Congress opened. Beijing Mayor Chen Jining clearly stated in the government work report that Beijing will accelerate the construction of financial technology and professional service innovation demonstration zones this year, and promote digital currency pilots. application. In the "Government Work Report" on January 24, Shanghai Mayor Gong Zheng stated that he will continue to promote the opening up of the financial industry, continue to gather a group of functional and headquarters-based institutions, and promote the digital renminbi pilot. Ma Xingrui, Governor of Guangdong Province, said in his government work report on January 24 that he supports Shenzhen in building a high-level factor market system, building a natural resource asset trading platform, promoting the construction of a global ocean center city, and creating a digital currency innovation pilot zone.

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2. News related to governments of various countries: The Thai Stock Exchange will launch a digital asset trading platform in the second half of the year

Russia: The Sberbank of the Russian Federation may launch the stable currency Sbercoin this spring. Russia’s largest state-owned bank, Sberbank, has submitted an application to the Central Bank of Russia in early January to launch a blockchain platform for its Sbercoin stablecoin. The registration process usually takes no more than 45 days, so Sberbank may launch its blockchain platform and stablecoin this spring; there is still a problem that has not been fully resolved, namely the taxation of digital financial assets.

China: The China Securities Association launched the "China Securities Chain", and the first application has been run on the chain. "China Securities Chain" is a securities industry alliance chain built on the basis of blockchain technology, which aims to give full play to the characteristics of blockchain technology such as traceability, non-tampering, security and credibility, to help technology supervision, service business innovation, and promote data sharing and data governance to build a new infrastructure for the securities industry. The association has released its first application on the "China Securities Chain" - the electronic draft supervision system for investment banking business. By providing a standardized interface, the manuscript supervision system is connected with the internal electronic manuscript management system of each securities company, promoting the standardization of electronic manuscript submission for investment banking business, and fulfilling the self-discipline management duties of the association. At the same time, the draft supervision system provides supervisory auxiliary tools for specific business scenarios such as random checks of draft documents, realizes online random checks of relevant electronic drafts, verifies the originality and integrity of draft documents, and provides comprehensive information such as submission management, supervisory spot checks, verification and verification, etc. Process support to promote underwriting sponsors to perform their duties and responsibilities under the background of the registration system. The association will further promote the application of "China Securities Chain" in the securities industry, support the deep integration of securities services and technology, and help the digital transformation and technology empowerment of the securities industry.

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3. Industry chain-related trends: BTC mining revenue decreased by 12.3% month-on-month

(The following source website data was updated to January 24)

Last week, BTC added 2.13 million transactions, a month-on-month decrease of 5.4%; ETH added 8.3 million transactions, a month-on-month decrease of 0.1%.

Last week, the average daily income of BTC miners was $3,360, a month-on-month decrease of 12.3%; the average daily income of ETH miners was $14.6643 million, a month-on-month increase of 10.5%.

Last week, the difficulty of BTC mining on the entire network was 20.82T, an increase of 0.2% month-on-month; the next difficulty adjustment date is February 6, 2021, and the estimated difficulty value is 21.04T (+1.02%); The difficulty is 4.27T, a month-on-month increase of 3.3%.

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4. Last week’s market review: Chainext CSI 100 fell 5.58%, and the Internet of Things & traceability performed best in the sub-sectors

risk warning

risk warning

Regulatory policy uncertainty. At present, the blockchain is in the early stage of development, and there are certain uncertainties in the supervision of blockchain technology, project financing and tokens in various countries around the world, so there are uncertainties in the development of industry company projects.

Regulatory policy uncertainty. At present, the blockchain is in the early stage of development, and there are certain uncertainties in the supervision of blockchain technology, project financing and tokens in various countries around the world, so there are uncertainties in the development of industry company projects.