HOMINERS
Bitcoin.
Bitcoin Miners’ Reserves Fall to About 1.832 Million BTC, Lowest Since May
Cryptocurrency miners’ bitcoin reserves fell to their lowest point since May following a large number of withdrawals this week, CryptoQuant data shows, signaling mounting selling pressure, with miners’ reserves measuring the number of tokens held in the wallets of affiliated miners and potentially signaling the prelude to a sell-off as tokens move to cryptocurrency exchanges. Bitcoin miners currently hold a reserve of around 1.832 million BTC, down from a high of 1.845 million in October. This comes after AliCharts noted in a social media post that miners have sold 3,000 bitcoins (BTC) in the last 24 hours, equivalent to about $129 million.
Victory Securities’ Virtual Asset Business Averages $10 Million in Monthly Turnover, Bitcoin Investments Make Up 80% of the Total
Chen Peiquan, executive director of Victory Securities, disclosed data showing that since the company launched its virtual asset trading service, the average monthly turnover has reached 10 million U.S. dollars, and its virtual asset business has already made a profit, and he believes that next year the relevant customers will maintain a multiple growth rate. Chen Peiquan said that investors are mainly investing in bitcoin, accounting for about 80% of its overall virtual asset investment. Chen Peiquan also revealed that next year, Victory Securities will integrate its stock and virtual asset platforms to make it a one-stop platform for investors to buy and sell virtual assets, and next year, Bitcoin will be halved every four years, coupled with the possibility of the Federal Reserve starting the interest rate reduction cycle, I believe that the virtual assets will usher in a bull market again.
The Valkyrie Bitcoin Miners ETF is up 314% for the year and is the best-performing non-leveraged ETF in the U.S. for 2023
Valkyrie’s Bitcoin Miners ETF (WGMI) is up about 399% in 2023, James Seyffart, an ETF analyst at Bloomberg, said in a post on social media. Despite the two-day drop, it’s still up 314% for the year, making it the best-performing non-leveraged ETF in the U.S. for 2023.
Coinbase Bitcoin Reserves Hit Lowest Level Since 2015
Coinbase’s bitcoin balance fell sharply, with about 30,000 bitcoins leaving the platform in a few days, the largest bitcoin withdrawal since May of this year, according to Glassnode, CryptoQuant and Coinglass. The decrease brings the platform’s bitcoin holdings to an estimated 411,000, the lowest level since 2015.
Prospect of Bitcoin Spot ETF Approval Sparks Traders’ Assessment of Possible Profit Taking
Bitcoin has retreated as traders are assessing how the crypto market might react if regulators approve the first bitcoin spot ETFs. Bitcoin has risen 156 percent this year, in part because investors are betting that the ETFs will boost new demand for bitcoin. A key question is whether the actual approval of these products will spur some profit-taking. In other words, uncertainty remains about potential market interest in spot bitcoin ETFs planned by the likes of BlackRock and Fidelity Investments.
Bitcoin Mining Difficulty Totals 27 Adjustments in 2023, 74% Difficulty Increase for the Year
According to Bitcoin.com, bitcoin mining difficulty has undergone 27 adjustments this year, with 20 increases and 7 decreases, representing an annual increase of about 74%, with the largest difficulty increase of 10.26% occurring on January 16th, the smallest increase of 0.12% occurring on August 9th, and the largest decrease of 3.59% occurring on January 3rd, and the smallest decrease of 3.59% occurring on August 9th, and the smallest decrease of 3.59% occurring on August 3rd. 3; the smallest drop of 0.49% occurred on February 12; the 27th and final adjustment of the year took place on December 24th. According to btc.com, the first bitcoin mining difficulty adjustment in 2024 is expected to take place around January 4, when the difficulty may rise by 2.25% to 73.62 T. The first bitcoin mining difficulty adjustment in 2024 is expected to take place around January 4, when the difficulty may rise by 2.25% to 73.62 T, according to btc.com.
Ether.
Vitalik Buterin Publishes Blog Post Discussing Ether Vision
Vitalik Buterin, the founder of Ether, published a blog post titled Make Ethereum Cypherpunk Again, in which Vitalik states that the deeper vision behind the cryptocurrency is that of comprehensively building a freer and more open society and economy in which the different parts-technology, society, and the economy-fit into each other. The early vision of “web3” was this same type of vision, moving in a similarly idealistic but slightly different direction. Unfortunately, since about 2017, these visions have faded from view. Very few people are talking about consumer crypto payments, the only real non-financial application being used on chain at scale is ENS, and there’s a big ideological divide, with much of the non-blockchain decentralized community seeing the crypto world as a distraction rather than a like-minded spirit and a powerful ally. Having lived through that era, I think the culprit for this shift is rising transaction fees. To read the original article, please click on the original link.
Grayscale: ethereum rally should be seen as evidence of further crypto market recovery
Grayscale officials posted on social media that ETH generated strong returns (80%+) in 2023, but lagged behind BTC and certain other smart contract blockchain tokens.The ratio between the ETH and BTC price indices recently reached its lowest level since mid-2021. In fact, most smart contract platform tokens have risen less than Bitcoin this year, with ETH largely in line with this peer group. The FTSE Gray Smart Contract Platform CryptoSector Index is up about 94% in 2023, only slightly higher than ETH’s gains. Although ETH lags behind Bitcoin and certain other crypto assets in 2023, it still outperforms traditional asset classes. As a result, we believe that ETH’s rally should be viewed as evidence of an expanding cryptocurrency recovery.
SEC Delays Resolution on ARK Invest, VanEck’s Spot Ether ETFs
The SEC has delayed its resolution of ARK Invest/21Shares, VanEck’s spot Ether ETF filing, which was originally due December 26, with a new resolution date of late May 2024, according to a filing update posted by Bloomberg analyst James Seyffart.
Delegate Founder: ethereum seems to have lost some of its roots when it comes to security
Delegate founder foobar had a discussion on Platform X about Ether, and foobar said that Ether seems to have lost some of its roots when it comes to security. More relays succumbing to OFAC, LST models beating separate pledgers, etc., so fixing the execution layer may be necessary for EVM to win. Sure, and with enough confidence that ETH will fix some of the problems by 2026, but this isn’t 2013, and the world can’t be expected to stand still for three years while we delve into PBS execution tickets and L1’s inability to escalate EVMs necessary to stay on top using a concurrent execution layer centered around EOA. Another narrative of failure is that L2 should have been the testing ground for the new EIP. But this hasn’t happened; instead, L2 is lagging behind L1 in EIP adoption, so Ethernet needs to play a bigger role in driving these improvements, and a successful L2 upstream will drive the entire ecosystem. However, the difficulty/cost of aggregation is not the main bottleneck, it’s the swamp of EVM infrastructure around it that must be coordinated in parallel to enable EIP-3074 support the main bottleneck is the wallet. So if m*tam*sk wants to get on board, L1 needs to lead the way.
Lido Strategy Consultant: One of the biggest strategic mistakes Ether can make is trying to compete as an execution layer
Hasu, a Lido strategy consultant, tweeted that Rollups now account for 20% of Ether’s revenue and are growing rapidly. This is a testament to the need for “opaque modifications” that Ether cannot easily provide on its own. One of the biggest strategic mistakes Ether can make is to try to compete as an execution layer instead of focusing on what it can uniquely provide: security. Agreeing on all of these issues, Ether Roadmap 2024-26 does a lot to address them. To me, this just shows that getting security right is extremely difficult. No other chain has done a better job in these areas other than introducing centralization.
Moody’s: public blockchains like ethereum will become more connected to traditional infrastructure over time
Moody’s believes that public blockchain networks such as Ether and traditional infrastructure will become more interconnected over time, which will enhance blockchain use cases and foster industry growth. Asset tokenization converts assets such as funds, real estate or artwork into digital tokens that can be stored and transferred using DLT. Progress has been made over the past year. The total value of real-world assets tokenized on the public blockchain has increased from $1 billion to $2 billion in the past 12 months, and Ether is currently hosting the vast majority of these. One factor hindering tokenization adoption is the lack of a reliable form of digital cash, which leads market participants to settle transactions off-chain or use stablecoins.
Data: 2023 Bitcoin Overtakes Ether in Market Capitalization, NFTs and Miners
According to data archived by CMC, BTC closed December 2022 with a market dominance of 40.1%, compared to ETH’s 18.4% share. Currently, BTC’s market share has soared to 51.5%, while ETH has dropped slightly to 16.6%. Currently, Bitcoin’s market capitalization stands at a whopping $856 billion, while Ether’s market capitalization stands at $275 billion, which makes BTC’s market capitalization about 3.11 times that of ETH. The latest data from cryptoslam.io shows that Bitcoin overtook Ether in terms of NFT sales in November 2023 and maintained its lead for the next 30 days. In those 30 days, Bitcoin-based NFT sales reached $761,951,324, while Ether sales reached $387,167,225. Additionally, Bitcoin continues to outperform Ether in terms of fee generation. In the last 24 hours alone, BTC miners collected $39,480,534 in fees from on-chain transactions, well above the $551,880 collected by ETH validators.
Other Projects
Polkadot Founder: Four Infrastructures Coming Soon, Elastic Scaling Expected in 2024
Polkadot founder Gavin Wood said that Agile Coretime, On-Demand Parachains, Ethereum Snowbridge, and Kusama Bridge are coming soon. Additionally Elastic Scaling is expected to be realized in 2024. Additionally, the new forkless block generation consensus algorithm Sassafras has taken shape and is expected to be available on the testnet in 2024.
Hashkey Cloud and SuperMeta Enter Partnership to Build Liquidity Restaking Benchmarks
Hashkey Cloud, HashKey’s Web3 infrastructure services provider, has announced a partnership with Liquidity Restaking Solutions, and HashKey Cloud will be joining its “Super Operator” guild, which is said to be working together in the area of digital asset management and building liquidity benchmarks. HashKey Cloud will also join its “Super Operator” guild, and the two companies are said to be collaborating on digital asset management and building the Liquidity Restaking benchmark.
Distributed Ledger Technology Platform Grape Closes $35 Million Funding Round
Grape, the Layer1 distributed ledger technology (DLT) platform, has closed a $35 million funding round with participation from LDA Capital, a global alternative investment group, which plans to use the funds to accelerate the project’s start-up.
Galxe Announces Partnership with BRC20 Inscription Turtsat to Deepen Community Engagement
Galxe, the Web3 community platform, has announced a partnership with BRC20 Inscription Turtsat, which will allow Turtsat to expand its reach and deepen community engagement through Galxe. This strategic partnership brings exclusive opportunities for Turtsat and the Galxe community, including rewards such as licensed lists.https://www.hominers.com/
BakerySwap: Will Launch Third Launchpad Program Next Week
BakerySwap said in a post on Platform X that it will launch its third Launchpad program next week, which is funded by Binance Labs, has an FDV of only $630,000, and can only be participated in using BAKE and 1CAT.
Telcoin Releases Update on Theft: Fixes Deployed, No Keys, Backend Systems or User Data Compromised
Blockchain payment app Telcoin has issued an update on the theft, Telcoin says we have determined the root cause of the theft, which was not an issue with the Telcoin wallet code itself, but rather an issue with the implementation of an agent for the wallet on Polygon, primarily affecting wallets that never initiated a transaction. We have deployed a fix to stop further exploitation. We plan to restore all wallets to their previous balances (for all affected assets) before reopening the application service, which may take some time. No keys, backend systems or user data have been compromised. We will provide an update as soon as possible and thank everyone for their patience and support.The Telcoin team is very grateful for the help provided by the blockchain security community and we will publicly thank them once we have completed our investigation. Golden Finance previously reported that blockchain payment app Telcoin experienced a large number of suspicious token operations on Polygon, with the suspicious address suspected of stealing over 300 million TEL tokens and exchanging them for MATICs.At this time, officials have stated that they have been made aware of the situation with the Telcoin app, and are temporarily freezing the app’s use while the issue is being investigated. BTC Asic Miner
BGD Labs: aave Governance v3 is now live
BGD Labs announced on the X platform that Aave Governance v3 is now live. In Governance v3, AAVEs, stkAAVEs, and AAVEs stored in Aave v3 ethereum have voting rights, and the proxy dynamics are exactly the same as in Governance v2, except that all proxies have been reset to 0 upon system activation.Additionally, voting/proxies can now be done directly through any instance of the Governance smart contract or user interface.
Decentralized storage platform CESS closes $8M funding round with participation from HTX Ventures
Decentralized storage platform Cu
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