Author | Qin Xiaofeng
Editor | Hao Fangzhou
Produced | Odaily
1. Overall overview
secondary title
In terms of the secondary market, the current ETH price may pull back slightly in the short term, with support at $2,700, $2,500, and resistance at $3,000.
Second, the secondary market
1. Spot market
On February 3, the cross-chain protocol Wormhole was hacked, and the loss amounted to 120,000 wETH (about 320 million US dollars). The hack occurred at 6:24 PM UTC on February 2. The attacker minted 120,000 wETH (WETH) on Solana, and then exchanged 93,750 wETH for $254 million at 6:28 PM UTC. ETH to the Ethereum network. The hackers have since used some of the funds to purchase SportX (SX), Meta Capital (MCAP), Finally Usable Crypto Karma (FUCK), and Bored Ape Yacht Club Token (APE). The remaining WETH is exchanged for SOL and USDC on Solana. The hacker's Solana wallet currently holds 432,662 SOL ($44 million).
In terms of the secondary market, the current ETH price may pull back slightly in the short term, with support at $2,700, $2,500, and resistance at $3,000.
According to OKX market data, the price of ETH once rebounded to over US$3,000 last week and closed at US$2,973 during the week, a month-on-month increase of 22.2%.
2. Large transaction
OKlink dataThe daily chart shows that the price is currently on the middle track of the Bollinger Band, and the price may continue to drop to $2,700 in the short term—this point is the coincidence point of the 10-day moving average and the middle track, and the support is strong; the lower support level is $2,500, 2300 US dollars and the previous low of 2158 US dollars, the upper resistance is 3000 US dollars and 3258 US dollars.
3. 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" decreasing by 30.5%, 22%, and 18.5% month-on-month respectively.
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 53.45% of ETH, a month-on-month decrease of 0.11%; in addition, the entire position distribution presents an elliptical structure, and the proportions of each part are: 1st to 100th, accounting for 39.91%, A month-on-month decrease of 0.23%; 101st to 300th, accounting for 13.54%, a month-on-month increase of 0.12%; 301st to 500th, accounting for 6.09%, a month-on-month decrease of 0.03%; 501st to 1000th, accounting for 7.13%, a month-on-month decrease of 0.01% %; after the 1001st place, accounting for 33.35%, a month-on-month increase of 0.14%.
3. Ecology and technology
1. Technological progress
(1) V God released the roadmap leading to the "path to the end of single slot"
On January 25th, V God, the founder of Ethereum, released the visionary article "Paths toward single-slot finality". Today, an Ethereum block takes 64-95 slots (about 15 minutes) to complete, which is considered to choose a medium on the decentralization/terminal time/overhead trade-off curve, in any dimension, the article said. Not a bad trade-off: 15 minutes is not too long, and comparable to confirmation times on existing exchanges, and it allows users to run nodes on regular computers, even at a deposit size of 32 ETH (vs. 1500 ETH earlier) In the case of a large number of verifiers generated. However, there are many good arguments for reducing finality time to a single slot.
Moving to single-slot confirmation is a multi-year roadmap, and even if implemented soon with a lot of development work, it will be one of the big changes coming to Ethereum later, long after proof-of-stake, sharding, and Verkle trees are fully rolled out. The implementation path is roughly as follows:
Intensify efforts to optimize authentication aggregation;
Agree on the general parameters;
Research, agree on, and specify an ideal consensus and fork selection mechanism to achieve single-slot finality;
Agree on an implementation path and execute on it.
The ultimate benefit will be significant, and the technology can be improved over time to achieve other benefits not described here (e.g., using an increased maximum number of validators to reduce the minimum deposit size). Therefore, it is worth starting as soon as possible deeper and more focused research and development on the technical challenges described in this article.
(2) Developers: Ethereum client Geth is close to being ready for the merger
Geth, the main Ethereum client currently running the PoW network, is almost ready for merge. Geth maintainer Péter Szilágyi said: "While it may not be obvious from the outside, the go-ethereum codebase is one step away from being ready for a merge. And the PR itself is done, 'just needs to be tested'."
This is expected to happen in June or July of this year, but eth2 developer Ben Edgington thinks that timeline is too aggressive. He explained: "It may be possible, but there is not enough room to deal with possible problems. We will launch the ideal merger timeline by mid-July, but we will also have contingency plans to delay if needed. Difficulty bomb. The most important thing is to get the whole thing right."
However, this is a huge effort, as the entire network will run on a new consensus and Ethereum's inflation rate will drop from about 4% per year to less than 1%.
2. Voice of the Community
(3) Vitalik proposed to introduce a new transaction format in the hard fork to improve Rollup scalability and reduce transaction fees
According to Vitalik, the plan for the recent hard fork is already under development, and the introduction of "blob-carrying transactions" will improve the scalability of Rollup. By implementing a format that will be used for sharding but not actually sharding transactions, this EIP will provide a stopgap until the transaction format is used for sharding. According to Vitalik, through this new fork, Ethereum transaction fees may be reduced to one-fifth of the current level by the end of 2022. (FXStreet)
2. Voice of the Community
In a blog post, V God of Ethereum explained the concept of non-transferable NFT with soulbounds. V God believes that soulbounds help make the game more challenging and interesting, ensuring that there are specific, powerful items that cannot be purchased with money. Additionally, these items are only obtainable after completing difficult quests, which further enhances the fun of the game. In the same sense, he believes that non-transferable NFTs can open up new possibilities and help improve the experience of Web 3, a new iteration of the Internet powered by blockchain technology. Additionally, while transferable NFTs have their place and are extremely valuable for supporting artists and charities, there is a huge and untapped design space for what non-transferable NFTs might become. Note: soulbounds are items in the popular MMORPG World of Warcraft and cannot be transferred or sold once picked up. (Crypto News)
3. Project trends
(2) Vitalik Buterin confirmed that he is helping Dogecoin transition to the PoS network
Ethereum co-founder Vitalik Buterin confirmed in a recent interview with UpOnly that he is helping Dogecoin (DOGE) transition to a PoS network. Vitalik said: "Almost every major blockchain now has a plan to transition to PoS, and Dogecoin is no exception." (Finbold)
(3) V God: NFT should not be too expensive, we should pay attention to its function
Vitalik Buterin said in the live broadcast of the Ethereum Chinese community that NFT should not be too expensive and should focus on its function.
3. Project trends
ZORA, the NFT market protocol, announced the launch of version V3, which allows creators to obtain royalties and integrates royalty registration, which means that NFT owners can configure their royalties on the Zora Marketplace Protocol. ZORA V3 is a one-way deployment, meaning that even if the platform crashes, the market will still function normally because the order book is run on-chain, not the database. In addition, the Gas fee mechanism and development tools have been optimized. The team said it also created a new ownership structure in the form of Zora Fee Switch NFTs (ZORFs), owned by the Zora DAO. ZORA V3 has been launched on the Rinkeby and Ethereum mainnets. Developers can use it in the developer tools, and users can log in to the official website.
(2) The founding team of Etherscan released the beta version of the Ethereum instant messaging application "Blockscan Chat"
Blockscan, the team that created the Etherscan blockchain explorer, has released a beta version of Blockscan Chat. The information disclosed on the website’s homepage shows that Blockscan Chat is a messaging platform where users can easily and instantly message each other through wallet-to-wallet. The website reads: "To use it, you must be connected to an Ethereum wallet such as MetaMask. Message recipients with an Ethereum address will be notified via the block explorer (the message will not be made public on the block explorer) .”
Some community users have informally referred to the tool as "Ethereum Instant Messenger". Ryan Sean Adams of Bankless said users could even use the tool to communicate with hackers, which would be useful in situations where trying to negotiate the return of funds. (Decrypt)
(3) Risk Harbor Core V2 has been launched on the Ethereum mainnet
On January 26, Risk Harbor, a DeFi risk management market, announced that Risk Harbor Core V2 has been launched on the Ethereum mainnet.
(4) The DoraHacks platform began to support privacy quadratic funding based on zero-knowledge proofs
Ethereum infrastructure developer ConsenSys announced the acquisition of the open source encryption wallet MyCrypto, which is expected to be merged with its Ethereum wallet MetaMask to improve transaction security and usability. The specific amount of the acquisition has not been publicly disclosed.
DoraHacks developer incentive platform HackerLink has completed the integration of the Dora Factory privacy voting module MACI, and began to support quadratic voting and quadratic funding rounds based on zero-knowledge proofs.
NFT development platform Pixel Vault announced on Wednesday that it has completed $100 million in financing. The investors are Velvet Sea Ventures and 01A. This round of financing will be used to develop the first multi-franchise (multi-franchise) NFT development platform, allowing artists, creators and collectors to have ownership of NFT digital content.
The Pixel Vault, which went live last May, includes real and digital comic book characters from CryptoPunks. The company has a large collection of superhero and villain NFTs, and hopes to develop it into a decentralized, studio-scale entertainment company. It is also the creator of the social and gaming platform MetaHero Universe.
Specifically, the funding will support the development of television, film and video game projects. Pixel Vault said that its primary and secondary market transactions have reached nearly 100,000 Ethereum (about 286 million US dollars). (CoinDesk)
NFT development platform Pixel Vault announced on Wednesday that it has completed $100 million in financing. The investors are Velvet Sea Ventures and 01A. This round of financing will be used to develop the first multi-franchise (multi-franchise) NFT development platform, allowing artists, creators and collectors to have ownership of NFT digital content.
4. Borrowing
DefipulseThe Pixel Vault, which went live last May, includes real and digital comic book characters from CryptoPunks. The company has a large collection of superhero and villain NFTs, and hopes to develop it into a decentralized, studio-scale entertainment company. It is also the creator of the social and gaming platform MetaHero Universe.
4. Borrowing
5. Mining
(data from etherchain.org)
etherchain.orgFrom the perspective of individual projects, the top three lock-up values are: Maker $16.89 billion; Curve $11.45 billion; Aave $10.43 billion.
4. News
image description
(data from etherchain.org)
The data shows that last week, the average computing power increased by 3.1% month-on-month, temporarily reporting 1013TH/s; the average mining difficulty increased by 2% month-on-month, temporarily reporting 12775T; the activity on the chain decreased by 2.2% month-on-month, and the total mining revenue increased by 5% month-on-month.
4. News
(1) Data: The monthly trading volume of NFT reached a new high of 6 billion US dollars in January
In January, the NFT transaction volume reached 6.13 billion US dollars, a record high. Compared to December, January NFT transaction volume increased by 129%, mainly because LookRare accumulated nearly $2 billion in transaction volume since its launch on January 10. Additionally, in addition to Ethereum-based NFTs, Solana-based NFTs also surpassed $1 billion in total sales in January. (The Block)
On February 3, the cross-chain protocol Wormhole was hacked, and the loss amounted to 120,000 wETH (about 320 million US dollars). The hack occurred at 6:24 PM UTC on February 2. The attacker minted 120,000 wETH (WETH) on Solana, and then exchanged 93,750 wETH for $254 million at 6:28 PM UTC. ETH to the Ethereum network.
Previous news on November 17, 2021, New York-based blockchain technology company ConsenSys completed a $200 million financing, with participation from HSBC, Animoca Brands, Dragonfly Capital, Coinbase Ventures, Marshall Wace, IOSG Ventures, and American hedge fund Third Point. Investment, ConsenSys valuation reached 3.2 billion US dollars.
(3) OpenSea refunds $1.8 million in Ethereum to users who lost NFTs due to "inactive listing" bug
OpenSea has repaid 750 Ethereum, or about $1.8 million, to users who accidentally sold NFTs at far below prevailing market prices due to a bug involving an "inactive list." (Decrypt) According to previous news, OpenSea failed to solve the problem, resulting in expensive NFT being sold at a low price.
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