| Ethereum London hard fork may be activated on August 4; Goldman Sachs predicts that the market value of ETH will surpass BTC in the future (July 8)

Azuma

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@azuma_eth

2021-07-08 08:00 (UTC+8)

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The total circulation of stablecoins on Ethereum has exceeded $74 billion, a record high.

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The total circulation of stablecoins on Ethereum has exceeded $74 billion, a record high.

headlines

Ethereum London hard fork may be activated on the mainnet on August 4

Goldman Sachs report: Ethereum is the blockchain with the highest "practical use potential", and ETH may become the dominant digital value store

Goldman Sachs said in a note to clients on Tuesday that ethereum is the blockchain with the highest "real use potential," suggesting its native token ETH could become the dominant digital store of value. Therefore, Goldman Sachs predicts that in the next few years, the total market value of ETH may exceed that of Bitcoin. Analysts point to bitcoin's first-mover advantage giving it a stronger brand, but argue that bitcoin lacks some of ethereum's use cases and has slower transaction speeds. Due to concerns about hard money and network security, Bitcoin does not yet offer the same level of functionality as Ethereum. As a "younger" network, Ethereum is also able to grow at a faster rate than Bitcoin. Bitcoin has grown by 261% over the past year, while ETH has grown by 856% over the same period. (Cointelegraph)

Leveraged funds that trade bitcoin futures on the CME continued to cut short positions initiated earlier this year. According to data released by the U.S. CFTC on Friday, as of the week of June 29, leveraged funds held a net short position of 10,000 contracts, down from about 30,000 in December and the lowest since September last year. Matt Blom, head of global sales and trading at Eqonex, said: "This may have more to do with leveraged funds using CME futures to hedge their long positions in Grayscale Bitcoin Trust (GBTC) shares. , and without adding further trades due to persistent negative premiums, we see a decline in demand for using these derivatives.” (CoinDesk)

New Israeli President Isaac Herzog to Receive NFT of Presidential Oath Before Inauguration

The Knesset has released an NFT of the original presidential oath to be presented to incoming President Isaac Herzog before his inauguration. While the president is in office, he will be responsible for the safekeeping of the NFT, which will be stored in an encrypted hardware wallet disconnected from the Internet. (The Block)

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digital currency

Data: The total circulation of stablecoins on Ethereum exceeded $74 billion, a record high

According to DeBank data, the total issuance of stablecoins on Ethereum has exceeded 74 billion U.S. dollars, setting a record high. Currently the top three Ethereum stablecoins are USDT ($28910301960), USDC ($24736864530), and BUSD ($10880980670).

Data: The 24-hour trading volume of Uniswap V3 is 1.04 billion US dollars

According to the data of Okey Cloud Chain masters, as of 16:00 today, the 24-hour transaction volume of DEX on Ethereum was 2.46 billion US dollars, a month-on-month decrease of 8.1%. Among them, the top three DEX protocols by trading volume are Uniswap V3 with USD 1.04 billion, Uniswap V2 with USD 327 million and 1inch with USD 288 million.

Digital bank N26 is cooperating with leading encryption exchanges to develop new trading functions, and plans to launch the service by the end of the year
Berlin-based digital bank N26, valued at $3.5 billion, is planning to launch a cryptocurrency trading tool as part of a new market move. A spokesperson for N26 said the company is working with “leading crypto exchanges” to launch new products. However, it is unclear which partners the new bank will work with. The spokesperson added: “We plan to provide crypto functionality through the market environment, integrating crypto exchange experience elements into N26’s banking and budgeting functions.” According to German media Finance FWD, by the end of this year, N26 customers will be able to trade Bitcoin. coins and other cryptocurrencies. The spokesperson also said that N26 is currently expanding its "market support team" to facilitate the development of encrypted products.

According to previous news, N26 raised another US$100 million in early May, bringing its total D-round financing announced in 2019 to US$570 million, and its valuation remains at US$3.5 billion. The investment is backed by existing investors including Tencent and Peter Thiel's Valar Ventures. To date, the company has raised 744 million euros (about 879 million U.S. dollars) through equity investment. (The Block)

Lido pledged nearly 600,000 ETH, becoming the largest depositor of ETH2.0

Nansen CEO Alex Svanevik tweeted that Lido Finance, the pledge liquidity solution, currently has 596,224 ETH pledged on ETH 2, making it the largest depositor of ETH2.0.

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Celer's latest expansion solution Layer2.finance v1.0 testnet is online, adding liquidity mining function

According to official news, Celer Network's latest expansion plan Layer2.finance v1.0 (L2F v1.0) test network is now online (testnet.l2.finance), adding liquidity mining functions. Celer said that when the L2F v1.0 mainnet is launched, it will simultaneously support and deploy on other blockchains such as BSC and other Layer2 rollup chains, and access to various DeFi protocols on the chain. The previous L2F v0.1 version already supports Compound, AAVE and Curve.

Blockchain industry

The "14th Five-Year Plan for the Development of High-tech Industry in Hainan Province" was issued: to optimize and strengthen blockchain and other digital industrial chains

On July 7, the "14th Five-Year Plan for the Development of High-tech Industries in Hainan Province" has been approved by the Hainan Provincial Government and has been issued recently. The operating income of the digital economy industry reached 400 billion yuan. In addition, the "Plan" also mentioned that it is necessary to accelerate the research and development of blockchain technologies such as distributed ledgers, asymmetric encryption, consensus mechanisms, and smart contracts, and build blockchain infrastructure such as blockchain public service platforms and computing power public service systems. Taking blockchain and other applications as the direction, we will actively strive to create various pilot projects such as digital trade. (Official website of Hainan Provincial People's Government)

Investment and Financing

DeFi investment platform Zerion completes $8.2 million Series A financing, led by Mosaic Ventures

Zerion, a DeFi investment platform, completed its Series A financing of US$8.2 million, led by Mosaic Ventures, with participation from Placeholder, Digital Currency Group, Lightspeed Venture Partners, and Blockchain.com Ventures. Zerion plans to expand its user base, bring new features to its platform, and expand its team. (The Block)

Cryptocurrency index community Index Cooperative raises $7.75 million led by Galaxy Digital and 1kx

WiV Technology, a blockchain platform focusing on the wine industry and NFT, has completed $1.5 million in financing, with participation from RedCave Ventures, Daniel Maegaard, SuperNatural, 1010 Capital, StableNode, and Tokenization. The funds will be used to accelerate the development of its tokenized wine platform develop. (Bitcoinist)

Wine blockchain platform WiV Technology completes US$1.5 million in financing, RedCave Ventures and others participate in the investment

The gamified NFT platform StarryNift has received strategic investment from LD Capital and others, and will conduct a limited edition blind box pre-sale in early July

Gamification NFT platform StarryNift launched its integrated gamification platform and digital collectibles launch platform (Launchpad). StarryNift announced that it has received strategic investment from LD Capital, Monday Capital, Sparkland Capital, Blockwall Capital, CoinGecko Ventures, and Gate Labs. Jihan Wu, founder of Bitmain, and Pranav Sharma, founder of Woodstock Fund, became its individual investors and advisors.

Accomplice VC Partner Ash Egan Opens Fund Acrylic Ventures Has Raised $55M to Invest in Early-Stage Crypto Projects

Accomplice VC partner Ash Egan is opening his own fund Acrylic Ventures. Egan has raised $55 million for his fund to invest in early-stage encryption projects. Cendana, Digital Currency Group, Bison Trails founders and others participated in the investment. (CoinDesk)

NFT ecological aggregation agreement xNFT will establish a $20 million digital art innovation fund

According to official news, the NFT ecological aggregation protocol xNFT will establish a $20 million NFT innovation fund, which will be used for NFT global creator incentives and Metaverse global developer incentives.

Borderless Capital established a $10 million fund HNT.Fund, which will be used for HNT staking and mining

Borderless Capital, an Algorand-focused venture capital firm, has established a $10 million fund, HNT.Fund, for mining and staking HNT. One of the goals of HNT.Fund is to create a Wrapped HNT on Algorand to enable the use of HNT in DeFi and CeFi applications. Participants in the fund include former Twitter COO Adam Bain and Polygon co-founder Sandeep Nailwal. (CoinDesk)

South Korea's Samsung and KB Asset Management have successively launched the Metaverse Fund

Industry observers said that South Korea has recently set off a metaverse investment boom. Two South Korean asset management companies have launched metaverse funds to help investors invest in beneficiary stocks such as Facebook, Apple, Microsoft, Roblox, Naver and Hybe. Some brokerages have also followed suit. KB Asset Management launched Korea's first Metaverse Fund on June 14, investing in 30-50 stocks listed in Korea, the US, China and Japan. With a net worth of 9.8 billion won ($8.7 million), the fund returned 4.08 percent. About two weeks later, Samsung Asset Management also launched the Metaverse Fund, investing in 40-50 global stocks such as Facebook, PayPal, Roblox, Square, and Naver. U.S. stocks account for 78% of the portfolio, and its net asset value has reached 10.2 billion won a week after its launch. In addition, IBK Securities Co., Ltd. has partnered with MetaCity Forum to create a blockchain-based metaverse and opened branches in it to provide financial services to customers through this technology.

ArkStream Capital, a cryptocurrency fund, invested in nearly 20 projects in the second quarter of 2021. The official release of the 2021 Q2 Encryption Investment Quarterly Report (3), the introduction of investment projects in this issue includes the investment reports of Handle.Fi, DeepDAO, Evanesco Network, Pontem Network, and Unbound Finance, a total of 5 projects. For details, click the "Original Link".

global policy

Russian Prosecutor General Says Government Is Working on New Laws to Allow Government to Seize Cryptocurrencies

Russian Attorney General Igor Krasnov has claimed that the government is working on a set of amendments to the country’s criminal code that would allow authorities to confiscate cryptocurrencies obtained from illegal activities, local news agency TASS reported. . Speaking at a meeting of European state prosecutors’ offices on Wednesday, Krasnov emphasized that cryptocurrencies like Bitcoin (BTC) are increasingly being used for corruption and bribery. Cryptocurrencies are also a vehicle for money laundering and misappropriation of budgetary funds. The criminal use of cryptocurrencies presents serious challenges to our nation. Russia’s adoption of the “Digital Financial Assets” (DFA) encryption law has played a key role in addressing this issue, but new amendments to the penal code will bring additional protections. This will allow the application of restrictive measures and the confiscation of virtual assets. (Cointelegraph)

Spanish Congress Passes Anti-Fraud Law: Users Must Disclose Crypto Assets Inside and Outside Spain

The Spanish Congress approved the Senate's revised anti-fraud law last month, which established a series of controls on cryptocurrencies and cash. Spanish citizens must now disclose their cryptocurrency holdings both at home and abroad. Second, the law imposes limits on cash spending to better control capital flows. Introduced in 2018 and only recently implemented, the law imposes stiff fines on citizens who fail to produce crypto assets in a timely manner. Citizens can pay up to 150% of the fine if they fail to file the report within the specified deadline. However, the EU is expected to propose a resolution on the issue on July 15, which could jeopardize the implementation of the new Spanish law. (News. Bitcoin)

Iranian Vice President: Bitcoin Miners Must Shut Down to Ensure No Power Outages in Important Areas

Iran's first vice president, Eshaq Jahangiri, said all bitcoin mining operations must stop production "completely" to ensure no power outages in critical areas. He claimed that the ongoing power crisis should end by the end of August. It is understood that on July 5, people in many cities held protests against the recent power outage in Iran. Iranian President Hassan Rouhani (Hassan Rouhan) apologized for this and called on the people to cooperate to solve the problem. In May, Iran banned bitcoin mining until Sept. 22 due to excessive electricity consumption, but some miners are still operating illegally. (U. Today)

Central Bank of New Zealand: Explore the potential of CBDC and cash coexistence and the challenges posed by cryptocurrencies

New Zealand's central bank deputy governor Christian Hawkesby confirmed on Wednesday that the Reserve Bank of New Zealand Te Pūtea Matua will publish a series of papers from August to November to solicit feedback on future payment and storage issues such as CBDC, cryptocurrencies and stablecoins. He said the RBNZ needed to consider how to build a resilient and stable cash and monetary system, and how best to respond to digital innovations in money and payments. Some of these papers will look at exploring the potential of CBDCs to co-exist with cash, the challenges posed by new forms of electronic money such as encrypted assets (such as BTC) and stable coins (such as Facebook-led projects), and the need to reform the cash system in order to Continue to meet the needs of users.

The Bank of Jamaica (BOJ) will roll out its central bank digital currency (CBDC) on a pilot basis at various financial institutions starting in August. Bank of Jamaica Governor Richard Byles said all technical aspects of the system are currently being studied and a sandbox is set up at the bank to house the entire infrastructure. The rollout of the Jamaican digital currency, which was supposed to begin in May, will begin with a pilot at the National Commercial Bank (NCB), according to local news reports. In addition, the Jamaica central bank plans to recruit more banks to join and gradually expand the pilot to the full launch of its central bank digital currency. Last week, the governor said that CBDCs, unlike more privately-based cryptocurrencies, would only be sold to licensed commercial banks, deposit-taking institutions (DTIs) and payment service providers authorized by the Bank of Jamaica. (Coinnounce)