ETH Weekly Report | The Ropsten test network is expected to merge around June 8; 330,000 ETH has been transferred to the exchange wallet in the past two weeks (5.9-5.15)
Author | Qin Xiaofeng
Editor | Hao Fangzhou
Produced | Odaily
1. Overall overview
Author | Qin Xiaofeng
Editor | Hao Fangzhou
1. Overall overview
Second, the secondary market
1. Spot market
According to data from on-chain analytics platform Santiment, large amounts of Ethereum tokens are flowing into exchanges. Over the past two weeks, 330,000 ETH (worth nearly $825 million) has been transferred to cryptocurrency exchange wallets, and the increase in inflows may indicate increased selling pressure due to reduced demand.
In terms of the secondary market, the current ETH price may continue to consolidate in the short term, with support at $2,000, $1,800, and resistance at $2,230.
According to OKX market data, the price of ETH once fell to US$1,800 last week, and closed at US$2,062 during the week, a month-on-month decrease of 18%.
2. Large transaction
OKlink dataThe daily chart shows that the price is currently consolidating at $2,000. In the short term, the price may rebound to around $2,300, but it is difficult to continue upward. There is a high probability that it will consolidate at $2,000-$2,300 for a period of time; if the market goes down, it is expected to It found support near the previous low of $1,800, and once it falls below it may further fall to around $1,500.
3. Rich list address
OKlink dataIt shows that the number of transfers on the chain increased sharply last week, and the "over 1000 ETH", "over 2000 ETH" and "over 5000 ETH" increased by 131%, 25% and 126% month-on-month respectively.
3. Ecology and technology
1. Technological progress
It shows that the current ETH network pledge rate is 10.63%; in addition, from the perspective of the address distribution of positions, exchanges accounted for 9.26%, DeFi projects accounted for 18.36%, and large addresses (top 1000 addresses excluding exchanges and DeFi projects) Accounting for 39.88%, other addresses accounted for 32.5%.
2. Voice of the Community
1. Technological progress
Ethereum core developer Tim Beiko: The Ropsten testnet is expected to be merged around June 8
Tim Beiko, the core developer of Ethereum, once again stated that the Ropsten test network is expected to be merged around June 8, and two new beacon chains will be launched before that. Also expect a client release in about two weeks, along with information on what stakers, node operators, tooling/infrastructure providers need to do to upgrade.
2. Voice of the Community
(2) V God and others jointly published the paper "Decentralized Society: Searching for the Soul of Web3"
3. Project trends
The paper notes that today's Web3 revolves around describing transferable financialized assets, but many core economic activities, such as unsecured lending and building a personal brand, are built on enduring, non-transferable relationships. The paper thus details how non-transferable “soulbound” tokens (SBTs) representing “soul” commitments, credentials, and affiliations encode the trust web of the real economy. At the same time, SBT supports applications such as community wallet recovery, anti-sybil governance, and new markets with decomposable and shared rights. The paper refers to this richer, more diverse ecosystem as a "decentralized society" (DeSoc). Key to this sociability are decomposable property rights and enhanced governance mechanisms that reward trust and cooperation while protecting the network from capture, extraction and domination. With this enhanced sociability, Web3 can sidestep the hyper-financialization of today in favor of a more transformative, diverse future that increases returns across social distance.
Ethereum co-founder Vitalik Buterin (V God) donated USDC worth $4 million to the University of New South Wales (UNSW) in Australia to support the research and development of epidemic detection tools. The funds, equivalent to approximately A$5.3 million, come from the Balvi Filantropic Fund, which was created by V God in partnership with the Shiba Inu project and Crypto Relief, with the goal of assisting in the fight against the new crown epidemic. The new funding will further support the development of the OISNT-based EPIWATCH tool, which uses artificial intelligence and open source data to create early warning signals of outbreaks. (Cointelegraph)
Opn (formerly SYNQA), the parent company of blockchain payment company Omise, announced the completion of round C+ financing of approximately US$120 million (approximately 15.5 billion yen), with the participation of Bank of Mitsubishi UFJ, Mars Growth, and JIC Venture Growth Investments. At present, the total financing amount of Opn has exceeded 222 million US dollars.
It is reported that Opn was established in 2013, focusing on online payment, blockchain technology for financial technology applications and digital transformation solutions. It owns the NFT issuance and sales platform Opn Mint and the payment infrastructure Opn Payments.
(2) The StarkNet cross-chain bridge StarkGate Alpha is launched on the main network, and users can transfer assets from Ethereum to StarkNet Alpha
Official news, Ethereum Layer 2 developer StarkWare announced that StarkGate Alpha, the first version of StarkNet Bridge, is launched on the main network, and users can now transfer assets from the Ethereum main network to StarkNet Alpha.
Opn (formerly SYNQA), the parent company of blockchain payment company Omise, announced the completion of round C+ financing of approximately US$120 million (approximately 15.5 billion yen), with the participation of Bank of Mitsubishi UFJ, Mars Growth, and JIC Venture Growth Investments. At present, the total financing amount of Opn has exceeded 222 million US dollars.
It is reported that Opn was established in 2013, focusing on online payment, blockchain technology for financial technology applications and digital transformation solutions. It owns the NFT issuance and sales platform Opn Mint and the payment infrastructure Opn Payments.
According to previous reports, in June 2020, SYNQA, the parent company of Omise, completed the C round of financing of US$80 million, led by SCB 10X and SPARX Group. (Coinpost)
Boba Network, the second-layer expansion network of Ethereum, has officially used BOBA as the Gas Token, but ETH is still the default Gas Token, and users can choose to change it to BOBA Token.
(4) 14 projects of the Arbitrum Odyssey Ecological Experience Award Program have been finalized
The Arbitrum development team, Offchain Labs, released the Arbitrum Odyssey voting update. A total of 14 projects have been voted by the community to become part of the Arbitrum Odyssey activities, including Bridge, trading platform and payment gateway tasks in the first week, Yield Protocol and Hashflow in the second week, and then respectively Aboard Exchange and TofuNFT (week 3), Uniswap and Apex (week 4), 1inch and Izumi/Yin Finance (week 5), Dodo and Swapr (week 6), TreasureDAO and Battlefly (week 7), Ideamarket and Sushi (week eight).
(5) Boba Network has enabled BOBA as Gas Token
Boba Network, the second-layer expansion network of Ethereum, has officially used BOBA as the Gas Token, but ETH is still the default Gas Token, and users can choose to change it to BOBA Token.
(6) Ethereum side chain SKALE releases Calypso NFT Hub
(7) Arweave ecological storage solution Bundlr Network integrates zkSync
4. Borrowing
DefipulseAccording to official news, Arweave’s ecological storage solution Bundlr Network is integrated with Ethereum’s second-layer solution, zkSync. zkSync developers can access Web3 data storage on Arweave, and zkSync users can use any token (including Ethereum) to pay for data uploads. And upload data under 100kb for free for developers.
4. Borrowing
5. Mining
(data from etherchain.org)
etherchain.orgFrom the perspective of individual projects, the top three lock-up values are: Maker $14.52 billion; Aave $8.38 billion; Curve $5.17 billion.
4. News
5. Mining
image description
(data from etherchain.org)
The data shows that last week, the average computing power rose by 1.93% month-on-month, temporarily reporting 1108TH/s; the average mining difficulty rose by 1.9% month-on-month, temporarily reporting 14293T; the activity on the chain rose by 11.6% month-on-month, and the total mining revenue rose by 3% month-on-month. According to the OKLink blockchain browser, the average gas fee began to rise at 15:00 on May 11, reaching 503 Gwei at 21:00 on the same day.
4. News
(1) In the past two weeks, 330,000 ETH was transferred to the exchange wallet, worth nearly 825 million US dollars
(2) Percentage of Ethereum addresses in profit drops to 21-month low
