ETH Weekly | The Ethereum Sepolia test network has been merged; the number of Ethereum independent wallet addresses has exceeded 200 million (7.4-7.10)

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

In terms of the secondary market, the current ETH price may continue to consolidate in the short term, with a support level of $1,150 and a resistance level of $1,260.

(ETH daily chart, picture from OKX)

According to OKX market data, the price of ETH once rebounded to $1,276 last week, and closed at $1,163 during the week, a month-on-month increase of 10.7%.

2. Large transaction

OKlink dataThe daily chart shows that the price is currently consolidating at $1,100-$1,200, and the support level is $1,140; if the support is valid, the price may test the $1,200 mark again in the short term, and the upper resistance level is $1,270.

3. Rich list address

OKlink dataIt shows that the number of on-chain transfers dropped slightly last week, with "above 1000 ETH", "above 2000 ETH" and "above 5000 ETH" falling by 13.5%, 12.5% ​​and 10.2% month-on-month respectively, indicating that the trading enthusiasm of giant whales has declined slightly.

3. Ecology and technology

1. Technological progress

3. Rich list address

OKlink data

3. Ecology and technology

2. Voice of the Community

1. Technological progress

On July 6, the Ethereum Sepolia testnet completed the merger, and Ethereum will be closer to the merger of the main blockchain later this year.

3. Project trends

According to previous news, the Ethereum Foundation issued a test network Sepolia merger announcement saying that Sepolia is ready for the merger and will transition to the PoS network when the total terminal difficulty (TTD) is 17,000,000,000,000,000, which is expected to happen within a few days. If the Sepolia merger does not find any problems, once the client test is completed, Goerli, another EL testnet of Ethereum, will run through the Merge of the Prater CL testnet. After Goerli/Prater has successfully transitioned and stabilized, the Bellatrix upgrade on the mainnet beacon chain will select an epoch and set the difficulty value for the mainnet transition.

2. Voice of the Community

V God slams Bitcoin developers for attacking PoS consensus mechanism

Ethereum founder Vitalik Buterin has defended the proof-of-stake (PoS) mechanism amid allegations that the protocol does not provide decentralized consensus. The attack on PoS was initiated by Bitcoin developer Jimmy Song, who pointed out that the protocol does not solve the Byzantine generals problem. (Finbold)

3. Project trends

(1) Tokenlon, a decentralized exchange, opens the limit order function in Arbitrum, the second layer network of Ethereum

Tokenlon, a decentralized exchange based on the 0x protocol, has opened the limit order function on Arbitrum, the second-layer network of Ethereum. Tokenlon will aggregate the liquidity of Uniswap and Sushiswap. In the future, it plans to add professional market makers. In addition, the repeater will soon open source , anyone can become a relayer to match orders and earn transaction fees.

(2) ZigZag will launch Invisib L3, a privacy trading plug-in based on StarkNet

The ZK Rollup order book DEX ZigZag on zkSync, the second-layer solution of Ethereum, will launch Invisib L3, a privacy trading plugin based on StarkNet, allowing users to maintain anonymity when trading on ZK Rollups. Invisib L3 can hide the order, prevent others from tracking the user's address (maker and taker) and amount, and also allow users to hide the source when transferring funds, aiming to become a viable alternative to Ethereum's existing privacy solutions.

(3) Immutable X will launch the ETH offramp function in the third quarter, which can sell Ethereum as legal currency on L2
According to the official Twitter, the NFT Layer 2 solution Immutable X has cooperated with the cryptocurrency payment service provider MoonPay to launch the ETH offramp function. Developers can directly sell Ethereum on L2 as legal currency. Developers of platforms based on Immutable X can use this function embedded in the platform. Currently, this feature is only available to users in the US, UK, and Europe, and it will be launched on the Immutable X Marketplace in the third quarter.

(4) Ethereum expansion project AltLayer will airdrop OG badge NFT on July 28

The Ethereum expansion project AltLayer announced that it will airdrop OG badge NFTs to early users. There are a total of 1,000 OG badges in this event, of which 400 will be minted and distributed during this event, and the remaining 600 OG badges will be reserved for future distribution. OG badge NFT holders will get the first use right to release new products or new features in the future, and 20 OG badge holders will also get a limited edition product package, and will get priority when participating in the project in the future, and will be the default Whitelisted for any future non-NFT airdrops. According to previous news, on July 1, AltLayer completed a $7.2 million seed round of financing, led by Polychain Capital, Jump Crypto and Breyer Capital.
(5) Crema Finance hackers return over $7.8 million worth of stolen cryptocurrencies

Crema Finance hackers have negotiated to return more than $7.8 million worth of stolen cryptocurrency. The hacker transferred 6064 ETH (approximately $7 million) and 23967.9 SOL (approximately $870,000) to the Solana and Ethereum wallets of the Crema Finance team through four transactions.

According to a negotiated agreement between the two parties, the hacker was allowed to keep 45,455 SOL (approximately $1.65 million) as a bounty. Additionally, Crema Finance labeled the hacker a "white hat." This means that Crema Finance is unlikely to take any legal action against the anonymous attacker. Crema Finance stated that the follow-up compensation plan will be released within 48 hours. (The Block)
(6) Semaphore, the Ethereum ecological zero-knowledge protocol, releases version V2

According to official news, the Ethereum ecosystem has launched a V2 version of Semaphore, a zero-knowledge protocol for developers. The update includes no longer needing to have an EdDSA private key, so as to achieve simpler circuits and more efficient zero-knowledge proof generation; The identity commitment and the hash function of the Merkle tree were migrated from MiMC to Poseidon, which halved the proof time and improved Gas efficiency; contract modularization, three new JavaScript libraries, etc.

Semaphore was first proposed by Ethereum community members Kobi Gurkan, Koh Wei Jie, and Barry Whitehat. The V1 version was released in 2019, which allows Ethereum users to prove their group membership and send messages such as votes without revealing their original identities. or a signal of support. Semaphore aims to provide Ethereum developers with powerful yet simple tools to build DApps using private credentials.
According to official news, STEPN announced that it will build Realm 3 on Ethereum and call it "APE Realm", and APE Realm will start casting in a few hours.

4. Borrowing

DefipulseStarkNet said that because a new leaner StarkNet Alpha version will be deployed, starting over with a new state. This means that in the new instance, all contracts and accounts need to be redeployed, and assets need to be migrated from the old StarkNet Alpha to the new one.

5. Mining

(data from etherchain.org)

etherchain.orgThe data shows that the value of locked-up collateral on the chain fell from US$50.02 billion to US$45.84 billion last week, a week-to-week decrease of 8.3%; the net decrease of US$2.89 billion in the previous week was a net decrease of US$4.18 billion last week, a month-on-month decrease of 44%. Specifically, the number of ETH mortgages dropped from 4.681 million to 3.921 million last week, a drop of 16.2%. From the perspective of individual projects, the top three lock-up values ​​are: Aave $6.09 billion; Lido $4.9 billion; Curve $4.6 billion.

4. News

5. Mining

image description

(data from etherchain.org)

The data shows that last week, the average computing power rose by 0.3% month-on-month, temporarily reporting 920TH/s; the average mining difficulty increased by 1.2% month-on-month, temporarily reporting 11761T; due to the postponement of the difficulty bomb, the total block generation increased by 15%, and the activity on the chain The month-on-month increase was 11%, and the total mining revenue increased by 12% month-on-month.