ETH Weekly | Stallone will launch his personal NFT project SLYGuys on Ethereum; Opensea will build an NFT market on Solana (3.28~4.3)

Author | Qin Xiaofeng

Editor | Hao Fangzhou

Produced | Odaily

1. Overall overview

Author | Qin Xiaofeng

secondary title

Second, the secondary market

1. Spot market

Ethereum miners earned a total of $1.29 billion in March, an increase of 7.2% month-on-month. Ethereum miner revenue has been declining since November 2021, when it totaled $2.07 billion. In March, Ethereum miners earned roughly 1.08 times more than Bitcoin miners. Most of these revenues come from block subsidies ($1.21 billion), with only a small portion coming from transaction fees ($78.27 million) and uncle block rewards ($58.23 million). Transaction fees fell to 5.9% of total revenue.

In terms of the secondary market, the current ETH price may pull back slightly in the short term, with support levels at $3,200, $3,000, and resistance at $3,500.

According to OKX market data, the price of ETH once rose above $3,500 last week and closed at $3,499 during the week, a month-on-month increase of 10.3%.

2. Large transaction

OKlink dataThe daily chart shows that the price stands firm at $3,000. In the short term, the price may continue to test the $3,500 mark, which is also the 120-day moving average, but there is strong resistance; the lower support levels are $3,200 and $3,000.

3. Rich list address

OKlink dataIt shows that the number of transfers on the chain rose slightly last week, and the "above 1000 ETH", "above 2000 ETH" and "above 5000 ETH" increased by 9%, 26% and 36% respectively from the previous month.

3. Ecology and technology

1. Technological progress

3. Rich list address

OKlink data
It shows that the top 300 ETH holdings currently hold a total of 53.11% of ETH, a month-on-month decrease of 0.07%; in addition, the entire position distribution presents an elliptical structure, and the proportions of each part are: 1st to 100th, accounting for 39.51%, Decreased by 0.08% month-on-month; No. 101-300, accounting for 13.6%, up 0.01% month-on-month; No. 301-500 accounted for 5.97%, down 0.02% month-on-month; No. 501-1000, accounting for 7.19%, up 0.05 month-on-month %; after the 1001st place, accounting for 33.74%, up 0.03% month-on-month.
3. Ecology and technology

1. Technological progress

Fairyproof released a research report on the EIP-4844 proposal proposed by V God. The report stated that this EIP introduces major changes in the implementation of the Ethereum client and aggregation solutions. Although it may not introduce obvious vulnerabilities, the newly introduced blob Transactions can cause two mempool problems.

2. Voice of the Community

The first is that blob transactions have a variable intrinsic gas cost, which makes the mempool vulnerable, since a transaction may be eligible for inclusion in one block, but may not be eligible for inclusion in the next. To prevent such attacks, the EIP recommends broadcasting only transactions with "gas at least twice the current minimum", greatly increasing the chances of a legitimate transaction being included in a block. The second is that blob transactions have large data volumes at the mempool layer, which exposes the mempool to DoS attacks. The EIP proposes to increase the "minimum increment of mempool replacement from 1.1x to 2x" to increase the attacker's cost and thus reduce their attack attempts. As far as security is concerned, developers must address these issues in the code.

Additionally, users should be aware that these two recommendations are in response to attacks on mempools, and if they are implemented, it means that non-malicious users will need to pay gas fees that comply with these recommendations if they want their transactions to be processed in a timely manner, the report said. According to previous news, V God of Ethereum proposed a new sharding proposal: EIP-4844.

(2) The Ethereum client Geth releases version v1.10.17, including a number of preparations for the merger

On March 30, the Ethereum client Geth released version v1.10.17. This release contains several preparations for The Merge. Additionally, preparations for changing the state layout, receipt converter tool, etc. have been added.

(1) V God: I hope that Ethereum will realize the two visions of "functionality and simplicity" at the same time

3. Project trends

On March 30, Vitalik Buterin posted that the biggest challenge for Ethereum comes from the balance between two visions: a pure and simple blockchain that values ​​security and simplicity, and a blockchain for building High-performance and functional platform for advanced applications.

Buterin said his personal dream is to try to realize these two visions at the same time: a basic layer, where the specification is smaller every year than the previous year; a strong developer-friendly advanced application ecosystem centered on the second layer protocol. It will take a long time to achieve such an ideal world, and a clearer recognition that this will take time, we need to think about the road map step by step, which may help us a lot. V God believes that there is a path to achieve improved functionality and simplicity, although it may be more tortuous.

(2) Ethereum developers: UST is bad for Ethereum and will threaten the solvency of all Ethereum DeFi

Ethereum developer Ryan Berckmans tweeted that if we rely on UST anchors on a large scale, it may eventually threaten the solvency of all Ethereum DeFi. UST is an algorithmic stablecoin with a high risk of a death spiral. In order to avoid this death spiral, UST buys BTC with retail profits; also bridges to Ethereum through cross-chain multi-signature (similar to Ronin cross-chain bridge stolen); and is trying to bridge its liquidity with other high-quality stable coins, death spiral Risks create risks for other stablecoins and DeFi. For these reasons, Ryan believes that UST is bad for Ethereum. Moreover, it is detrimental to the kind of sustainable growth that proves to the world that Ethereum is ready to become a global settlement layer.

3. Project trends

(1) Cere Network, a decentralized data cloud platform, will integrate Boba Network, an Ethereum scaling solution

According to official news, Cere Network, a decentralized data cloud platform, recently announced a partnership with Boba Network, a layer-2 scaling solution for Ethereum. The integration of Boba Network and Cere Network will bring improved decentralized data cloud solutions to Boba Network developers and users. Following Boba Network’s integration in early April, Boba Network-based projects will have direct access to Cere Freeport, a secure digital asset library and solution suite for NFT-backed assets.

(2) Stallone will launch his personal NFT project SLYGuys

Movie star Sylvester Stallone announced that he will launch the NFT community PlanetSLY on Ethereum, and will release the first batch of NFT series called SLYGuys, with a total circulation of 9,997 pieces. It is expected to be sold to the public in April this year. Stallone himself will Digitally sign and number twenty-five of the rarest NFTs in the series.

(3) Opensea will establish an NFT market in Solana

Opensea officially stated that it will build an NFT market based on Solana and will support the Metaplex collection standard when it goes online. Opensea stated that existing Solana NFT projects need to use specific tools to migrate projects to the latest version of the aforementioned standard, and the NFT listing will eventually be automatically listed on OpenSea after completion. This means that Solana will become the fourth blockchain network deployed by OpenSea after Ethereum, Polygon and Klaytn.

(4) DEX aggregator Matcha’s cumulative transaction volume on Polygon exceeds $1 billion

Matcha, a DEX aggregator, tweeted that the cumulative transaction volume of Matcha users on the Polygon network has exceeded $1 billion. Polygon became the second network to achieve this record on Matcha after Ethereum.

(5) Centrifuge Release Roadmap: The real-world asset pool will be launched and expanded

According to official news, Centrifuge, a decentralized lending protocol based on real-world assets, released a protocol roadmap. Next, it plans to start and expand real-world asset pools on Centrifuge Chain, replacing Tinlake smart contracts on Ethereum; in Centrifuge, RWA ( Real real assets) build more liquidity, optimize legal structure, KYC process and onboarding process; build trust in real-world assets by building governance knowledge and tools for members of the Centrifuge ecosystem to accurately assess the risk of assets in the agreement and ensure Correctly set interest rates; expand CFG usage scenarios, including fee mechanism, pledge mechanism, etc.

(6) AirSwap releases multi-chain protocol AirSwap V3, including transaction and reward protocol

According to AirSwap, V3 means that new tools and software packages can implement peer-to-peer swaps and start trading immediately, and it will also be more efficient for transactions between any ERC-20 or ERC-721 tokens. In addition, for community users, the V3 reward protocol has also been updated, all rewards on the chain will be converted into a single token, and protocol fee discounts will be given based on the amount of AST pledged. The new V3 protocol has been adopted by aggregators such as AirSwap, AirSwapOTC, AirSwapCLI, and MetaMask Swaps and several market makers.

4. Borrowing

Defipulse(7) IOST announced the launch of EVM-compatible Ethereum cross-chain project Entroverse

4. Borrowing

5. Mining

(data from etherchain.org)

etherchain.orgFrom the perspective of a single project, the top three locked positions are: Maker 15.89 billion US dollars; Aave 11.97 billion US dollars; Curve 10.59 billion US dollars;

4. News

5. Mining

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(data from etherchain.org)

The data shows that last week, the average computing power rose by 0.3% month-on-month, temporarily reporting 1009TH/s; the average mining difficulty increased by 2% month-on-month, temporarily reporting 12996T; the activity on the chain decreased by 6.5% month-on-month, and the total mining revenue rose by 3.7% month-on-month; According to Etherscan data, the Ethereum network Gas fee dropped to 10 gwei at one point.

4. News

(1) Data: The holdings of the top 10 Ethereum wallets account for 23.7% of the total supply of ETH
On-chain data aggregator Santiment says the top 10 Ethereum whale wallets have increased their ETH balances since 2021, with these wallets increasing their ETH balances by 4.3% compared to March 2021, bringing their total to the current Ethereum 23.7% of circulating supply, very close to the 5-year highs these wallets first breached in late January.

(2) Long-term holders of Ethereum have accumulated more than 4 million ETH in the past few weeks, worth $12.6 billion

According to data from market intelligence firm IntoTheBlock, long-term Ethereum holders have been accumulating ETH over the past few weeks. In a new report, the firm said long-term Ethereum investors took the plunge earlier this year and bought more than 4 million ETH, worth $12.6 billion, in a matter of weeks. As prices plummeted in late January, addresses that had held ETH for more than a year increased their positions by more than 4 million ETH in a matter of weeks, causing their holdings to reach yearly highs. (The Daily Hodl)

(3) Google searches for "Ethereum merger" hit an all-time high

According to Google Trends data, the search volume of "Ethereum Merge" (Ethereum Merge) hit a record high, of which Canada had the largest number of searches for "Ethereum Merge" in the past year, and the peak occurred during March 13-19; Australians In second place, Singaporeans came in third, Americans in fourth, the UK and the Netherlands in fifth and sixth respectively.

In addition, Google revealed that the search volume of keywords such as "proof of stake" (PoS) and "Ethereum 2.0 release date" have also increased significantly recently. (Decrypt)

(4) CME Announces Micro Bitcoin and Ethereum Options

On March 28th, CME Group (CME) announced the launch of micro-bitcoin and ethereum options. (Golden Ten)