ETH Weekly | V God Cover "Time" Magazine NFT Listed on OpenSea; Ethereum Difficulty Bomb is Expected to Come in June (3.21~3.27)
Author | Qin Xiaofeng
Editor | Hao Fangzhou
Produced | Odaily
1. Overall overview
Author | Qin Xiaofeng
Editor | Hao Fangzhou
Produced | Odaily
secondary title
1. Overall overview
Ethereum core developer Tim Beiko released the latest core developer meeting content, including the difficulty bomb, the "Shanghai" upgrade, the progress of the Ethereum executive layer, and a Protocol Guild plan for client developers:
The next Ethereum upgrade "Shanghai" is currently being drafted. The planned upgrade mainly includes EVM upgrade, activation of beacon chain withdrawals, reduction of Layer 2 fees, and other minor upgrades;
Second, the secondary market
1. Spot market
The Protocol Guild, an initiative to compensate client developers and researchers with tokens for Ethereum-based projects, has over 100 members and is about to launch a pilot.
In terms of the secondary market, the current ETH price may pull back slightly in the short term, with support at $3,000, $2,850, and resistance at $3,250.
According to OKX market data, the price of ETH once rose to around US$3,200 last week, and closed at US$3,170 during the week, an increase of 11% month-on-month.
2. Large transaction
OKlink dataThe daily chart shows that the price is above the $3,000 mark. In the short term, the price may continue to test the $3,250 mark, which is also the 120-day moving average, with strong resistance; the lower support levels are $3,000 and $2,850.
3. Rich list address
OKlink dataIt shows that the number of on-chain transfers dropped slightly last week, with "above 1,000 ETH", "above 2,000 ETH" and "above 5,000 ETH" falling by 6.15%, 5.4%, and 12.6% month-on-month respectively.
3. Ecology and technology
1. Technological progress
OKlink data
It shows that the top 300 ETH holdings currently hold a total of 53.18% of ETH, a month-on-month decrease of 0.3%; in addition, the entire position distribution presents an oval structure, and the proportions of each part are: 1st to 100th, accounting for 39.59%, A month-on-month decrease of 0.45%; No. 101-300, accounting for 13.59%, up 0.14% month-on-month; No. 301-500 accounting for 5.99%, up 0.1% month-on-month; No. 501-1000, accounting for 7.14%, up 0.08 month-on-month %; after the 1001st place, accounting for 33.71%, a month-on-month increase of 0.13%.
3. Ecology and technology
1. Technological progress
(1) V God of Ethereum proposes a new sharding proposal: EIP-4844
Vitalik Buterin, the founder of Ethereum, shared the idea of Proto-danksharding on Twitter, which focuses on the data verification scenarios of blob carrying transactions that EVM cannot execute. Proto-danksharding will replace darksharding, a sharding technique in which only one proposer chooses all transactions and all data that goes into this or that slot, instead of choosing a separate proposer for each shard. The proposed solution can be an ad-hoc variant as it includes some implementation of sharding techniques. At the same time, it leads to an increase in data usage because it requires a larger block size. The founders of Ethereum proposed to automatically delete blob data every 30 days to prevent excessive data and memory storage requirements of the network.
(2) Ethereum core developer meeting: the difficulty bomb is expected to arrive in June, and the execution layer specification is progressing smoothly
Intensive testing of the merged testnet Kiln is underway to ensure that all implementations are safe and stable. In the future, if everything is ready, The Merge will be run on existing testnets, such as Ropsten, Goerli, Sepolia, etc.
2. Voice of the Community
The Ethereum difficulty bomb is expected to arrive in June;
The work on the executable specification of the Ethereum execution layer is progressing smoothly, and the next step is to coordinate the EL+CL upgrade process;
3. Project trends
2. Voice of the Community
Vitalik Buterin, the co-founder of Ethereum, talked about speculation in the NFT market in an interview with Time Magazine. He mentioned: "The danger is that you own these $3 million Bored Ape Yacht Club NFTs, and it becomes another kind of gambling." This comment made many participants think that V God hates or looks down on some NFT projects. In this regard, V God responded to Coin Center Communications Director Neeraj Agrawal and said: "I don't hate Bored Ape Yacht Club NFT, I just want them to fund public products" .
(1) ENS launched a community proposal vote on TNL reimbursement, index price oracle and SIWE server
ENS, the Ethereum domain name service, launched three community proposal votes: EP8 (TNL reimbursement), EP9 (index price oracle) and EP10 (SIWE server).
(2) Optimism: call data compression launched on the main network on Thursday
Optimism, the second-tier expansion network of Ethereum, announced on Twitter that call data compression (calldata compression) will be launched on the main network on Thursday (March 24). Before that, if syncing from L1, DTL needs to be upgraded to at least version 0.5.20. Earlier news, Optimism announced plans to deploy call data compression to reduce costs by 30% to 40%.
(3) Palm NFT Studio announced that its secondary market will be launched in the spring of 2022
Palm NFT Studio, an NFT studio developing on Ethereum sidechains, announced that its secondary market will launch on the Palm network in spring 2022.
As previously reported, DC, a well-known American comic company, announced a partnership with Palm NFT Studio to launch the first DC official NFT series on October 5, 2021. Since then, to celebrate the release of the "New Batman" movie in 2022, AMC Theaters and Warner Bros. have also partnered with Palm NFT Studio to release limited-edition NFTs minted on the Palm network.
(4) On-chain bulk trading platform Integral launched a new decentralized trading platform SIZE
(5) Yearn Finance announced the launch of Curve Rocket Pool, a new Ethereum treasury
Official news, Yearn Finance announced the launch of Curve Rocket Pool, a new Ethereum treasury. Users can use Rocket Pool ETH (rETH) and Lido stETH (wstETH) to earn ETH pledge rewards on both sides of the Curve Finance pool.
User Yearn Zaps deposits any major token (ETH, USDC, etc.) into this treasury, and Zaps will automatically convert the deposit into rETH+wstETH in one transaction through Yearn, put it into the Curve pool and pledge it.
(6) Polygon announced the launch of Ethereum Adoption DAO to promote the adoption and implementation of new projects in the Ethereum ecosystem
Polygon invites Web3 builders to participate in the partnership, saying that while it launched the initiative, it is only one of many equal Genesis members. After the launch of the EAD, Polygon will work with other members to help promote the independence and trusted neutrality of the EAD, which will then be run by the core team and the wider DAO community.
(7) StarkNet mainnet officially launched Alpha 0.8.0 version
The Alpha 0.8.0 version update includes: a fee mechanism based on computational complexity pricing, Layer2 Ethereum faucets, adding the ability to retrieve transaction execution traces to StarkNet's API, adding Layer1 to Layer2 message cancellation, reducing sequencer execution Time required for incoming Cairo transaction streams, etc.
4. Borrowing
Defipulse(8) DeFi protocol Synthetix merges debt pools to enhance liquidity and pledge efficiency
4. Borrowing
5. Mining
(data from etherchain.org)
etherchain.orgFrom the perspective of individual projects, the top three lock-up values are: Uniswap 17.84 billion US dollars; Maker 15.37 billion US dollars; Aave 10.51 billion US dollars.
4. News
5. Mining
image description
(data from etherchain.org)
The data shows that the average computing power last week decreased by 0.5% month-on-month, temporarily reporting 1005TH/s; the average mining difficulty decreased by 1.1% month-on-month, temporarily reporting 12748T; the activity on the chain decreased by 1.5% month-on-month, and the total mining revenue decreased by 2.6% month-on-month; According to Etherscan data, the Ethereum network Gas fee dropped to 10 gwei at one point.
4. News
(1) Ethereum whales buy $89 million worth of SHIB
According to records obtained in Resource Monitor Megatransactions, an Ethereum whale purchased a large amount of SHIB. The whale’s distribution of total assets shows that his portfolio consists of 31.39% SHIB (about $89 million) and 59.62% ETH, with the rest being different cryptocurrencies like USDT and Chainlink (LINK). As reported over the weekend, Shiba Inu NFTs (Shiboshis) are down 70% year-over-year. (Crypto News BTC)
(2) CoinMetrics: The mention rate of Ethereum in SEC filings hit a record high
In its recent State of the Network (SOTN) report, CoinMetrics disclosed that institutional interest in Ethereum has a strong positive correlation with ETH’s price, as measured from the SEC’s publicly available database. The reason for the relationship was pointed to the obligation of public institutions to report investments in cryptocurrency trusts and ETFs to the SEC.
