ETH Weekly | The monthly sales of NFT on Ethereum is the lowest in 16 months; the number of newly registered domain names in ENS in September hit a record high (10.1-10.9)
Author | Qin Xiaofeng
Editor | Hao Fangzhou
Produced | Odaily
1. Overall overview
Author | Qin Xiaofeng
1. Overall overview
In terms of the secondary market, the current ETH price may continue to consolidate in the short term, with a support level of $1,300 and a resistance level of $1,400.
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 $1,300 and a resistance level of $1,400.
(ETH daily chart, picture from OKX)
Second, the secondary market
1. Spot market
etherchain.orgAccording to OKX market data, the price of ETH once rebounded to $1,380 last week, and closed at $1,326 during the week, up 2.5% month-on-month.
(ETH daily chart, picture from OKX)
OKlink dataThe data shows that in the past week, the Ethereum network produced 50,071 blocks, which was basically the same as last week; the number of active addresses per week was 3,445,308, a month-on-month increase of 6.25%; the block reward income was 3,243 ETH, a month-on-month decrease of 6%, mainly It is due to the decrease of network transaction fees - after Ethereum switched to POS, block rewards come from network transaction fees; the weekly ETH destruction volume reached 11,396, a month-on-month increase of 32%, mainly due to XEN mint.
4. Rich list address
OKlink dataIt shows that the number of on-chain transfers dropped sharply last week, with "above 1,000 ETH", "above 2,000 ETH" and "above 5,000 ETH" falling by 45.8%, 47.7%, and 46.1% month-on-month respectively. The trading enthusiasm of giant whales has dropped significantly.
3. Ecology and technology
1. Technological progress
OKlink data
It shows that the total amount of pledged ETH in the entire network is currently 14,183,751 ETH, and the pledge rate is 11.85%. From the perspective of the distribution of holding addresses, exchanges account for 10.57%, DeFi projects account for 17.47%, and large addresses (top 1,000 addresses excluding transactions exchanges, DeFi projects) accounted for 38.89%, and other addresses accounted for 33.09%.
1. Technological progress
2. Voice of the Community
According to a recent tweet by Ethereum founder Vitalik Buterin, the Ethereum account abstraction proposal EIP-4337, which was jointly initiated in September 2021, has recently released a new version, adding signature aggregation including the BLS signature algorithm. The signature aggregation function allows builders and batch submitters to also aggregate signatures (such as BLS, SNARKs), greatly reducing the data on the chain.
V God said that ERC-4337 provides something truly valuable and necessary for account abstraction, which can provide a "decentralized fee market" for user operations using smart contract wallets. We are slowly and accurately realizing the actual path of account abstraction. The newly added signature aggregation function in this release can reduce data costs for rollups, which will also become one of the driving forces for the adoption of ERC-4337.
It is reported that Account Abstraction (Account Abstraction) is to reduce complexity and improve effectiveness by omitting unnecessary details in the Ethereum account system (eliminating the need for EOA and special handling of smart contract wallets).
2. Voice of the Community
(1) V God: Partial block auctions can be used to deal with the centralization risk of block builders
Vitalik Buterin, the co-founder of Ethereum, said that some block auctions can be used to limit the power of builders to deal with the risk of centralization, and mainly introduced two possible methods: Inclusion lists and Proposer Suffixes:
Another way to build this is to allow proposers to create a suffix for blocks. The builder sees no information about the proposer's intent when building the block, and the proposer is able to add any transactions the builder missed to the end. Doing so reduces incentive compatibility issues, and while it may be an additional burden on the proposer, between getting a response from the builder and having to publish the block, the proposer will get some MEV opportunities.
3. Project trends
(2) Coinbase: Support Ethereum EIP-4844, which can greatly reduce L2 fees
As previously reported, on March 21, V God shared answers to frequently asked questions about EIP-4844 (also known as proto-danksharding) technology on his personal social media platform. Vitalik said that Proto-danksharding will replace darksharding, which is 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.
(1) AltLayer, an Ethereum expansion project, launched an Alpha developer network
(2) N Suite under double jump.tokyo joins the zkSync ecosystem and will provide its customers with secure private key management
Japanese crypto game start-up double jump.tokyo announced a partnership with zkSync, an Ethereum L2 scalable solution, and its N Suite will also be included in the zkSync ecosystem. Hirofumi Aoki, director of N Suite, said that using zkSync will reduce transaction costs, increase transaction speed and enhance user experience. N Suite's targets and potential customers are mainly NFT project parties, who have been looking for scalable networks to deploy their projects, integrate The zkSync ecosystem can unlock a large number of use cases and accelerate business expansion. N Suite is a series of business tools in the NFT/Web3 field, providing products to help efficient business operations, such as NFT casting, encrypted asset transfer, and smart contract deployment.
Maximum extractable value (MEV) operator Flashbots is currently used to create 39% of ethereum blocks, up from 12% on Sept. 15, though it continues to review transactions related to Tornado Cash. According to previous news, Hasu, the head of Flashbots strategy, tweeted in August this year that Flashbots will cooperate with the enforcement actions of the Office of Foreign Assets Control (OFAC) of the US Department of the Treasury to blacklist addresses related to Tornado Cash. (The Block)
(4) Loopring will use 16% of the protocol funds to sponsor liquidity mining in the fourth quarter
Loopring stated that it will readjust the Loopring DAO to manage various on-chain protocol parameters, including the distribution of protocol fees, the distribution of DAO funds, etc. During the fourth quarter of 2022, Loopring will use 16% of the protocol funds accumulated in the past few months to sponsor liquidity mining activities; in addition, a new LRC token economics proposal will be proposed, or LRC staking will be reintroduced. A certain percentage of protocol fees is allocated to users who choose to stake LRC on Loopring L2.
(5) Data: The number of newly registered domain names in ENS in September exceeded 430,000, a record high
(6) Infura abandons the Optimism Kovan and Arbitrum Rinkeby testnets
(7) Lido announces support for Optimism and Arbitrum
Coinbase Cloud announced a series of new developer features for Coinbase Wallet, including testnet faucet, seamless network switching, dedicated testnet asset view, advanced settings, etc. Among them, testnet faucet allows users to acquire Ethereum in the Coinbase Wallet plugin Görli and Rinkeby testnet ETH, you can get 0.5 testnet ETH on the two networks every 24 hours.
4. Borrowing
DeFiLlama Fuel Labs, the developer of Fuel, the modular execution layer of Ethereum, launched the Fuel Grants Program, which will provide grants ranging from $10,000 to $150,000 to developers and creators based on Fuel, including protocol development, application and integrations, infrastructure, developer tools, audits, community (marketing and education), events and hackathons, etc.
4. News
(10) The average weekly transaction volume of StarkNet exceeds that of BTC, and STARK Token will be released in the next few months
StarkNet is one of the Layer 2 solutions for Ethereum (ETH) network technology. Its co-founder Eli Ben-Sasson revealed in a latest interview with The Defiant Podcast that the ecosystem processes up to 6 million transactions per week, which has exceeded bitcoin network. In addition, in order to promote the decentralization of the protocol, the StarkWare team will release STARK Token in the next few months, aiming to integrate utility and governance assets, such as gas fees, protocol referendums, pledge mechanisms, and other data availability solutions. (u.today)
The data shows that the value of collateral locked on the chain fell from $31.77 billion to $31.55 billion last week, a 1% drop for the week. Specifically, the number of ETH mortgages dropped from 24.23 million to 23.86 million last week, a drop of 1.5%. From the perspective of individual projects, the top three lock-up values are: MakerDAO $7.64 billion; Lido $5.89 billion; Curve $5.55 billion.
(1) Data: In September, NFT sales on the Ethereum chain were about 320 million US dollars, the lowest record in the past 16 months
Cryptoslam's latest transaction data shows that in September 2022, NFT sales on the Ethereum chain will be $320,176,268.20, setting a record low in the past 16 months. In addition, in September, the number of NFT transactions on the Ethereum chain was 769,156, including 153,410 independent buyers and 164,949 independent sellers. Historical data shows that the highest record of NFT sales on the Ethereum chain occurred in January 2022, and the transaction volume of that month was close to 4 billion US dollars.
