Total DeFi TVL increased by 45% in February UniSat: Development of Cursed Inscription completed

Headlines

▌DappRadar: DeFi’s total TVL increased by 45% in February

Crypto intelligence platform DappRadar in the latest The monthly analysis of DeFi pointed out that the total TVL of DeFi increased to $159 billion in February, an increase of 45% from 1 month, which also represents the highest level of TVL recorded in the field since May 2022. TVL refers to the amount of funds deposited into a protocol smart contract and is often used to measure the health of the cryptocurrency ecosystem.

▌UniSat: Completed development work related to Cursed Inscription

UniSat stated on social platform X that the UniSat App is undergoing security review and Google Play review process . In addition, UniSat has launched a proposal for self-minting and burning functions to lay the technical foundation for the issuance of stablecoins on the BRC-20 protocol. UniSat has completed the development work related to Cursed Inscription and is now in the testing phase and will be launched soon.

Quotes

As of press time, according to coinmarketcap data:

The recent transaction price of BTC was 69,244.39 US dollars, with fluctuations during the day. Frame+1.53%;

ETH Recent The transaction price was US$3946.00, and the intraday increase or decrease+0.89%;< /p>

BNB’s recent transaction price was US$490.79, with intraday changes +1.15%;

ORDI’s recent transaction price was US$77.82, with an intraday increase or decrease-1.11%;

The recent transaction price of DOGE was US$0.1764, with intraday gains and losses+6.02%;

SOL’s recent transaction price was US$146.94, with an intraday increase or decrease+0.87%.

Policy

▌Coinbase provides five-point spot Ethereum ETF application reasons to the US SEC: It can be attributed Classified as Commodity-Based Trust Shares

This week Coinbase met with U.S. Securities and Exchange Commission (SEC) officials to discuss rule changes to launch a spot ether exchange-traded fund (ETF), according to the U.S. A meeting document shared by the Securities and Exchange Commission shows that Coinbase provided five reasons for applying for a spot Ethereum ETF, including: 1. Shares of the spot Ethereum ETF can be classified as commodity-based trust shares; 2. The reasons for the US Securities and Exchange Commission’s approval of spot Bitcoin ETP have the same or greater effect on Ethereum; 3. Ethereum’s mechanism can significantly limit ETH’s susceptibility to fraud and manipulation; 4. The performance of the Ethereum spot market has highly demonstrated that the market is resistant to fraud and manipulation; 5. As with Bitcoin, the exchange’s comprehensive surveillance sharing agreement with the Chicago Mercantile Exchange (CME) will help monitor fraud and manipulation.

▌XRP lawyer John Deaton received support from crypto market participants for his U.S. Senate campaign

Golden Finance reported that Fox reporter Eleanor Terrett said that XRP Attorney John Deaton has received significant support from crypto market participants for his U.S. Senate campaign. The market is now betting that Deaton will gain support from political action committees, especially Fairshake. Deaton has now started a cryptocurrency-based fundraising campaign, and pro-cryptocurrency voters want politicians to embrace and understand digital currencies with an open mind and better legislation. Deaton’s campaign will see cryptocurrency donations throughout the campaign, and Deaton has received significant support from the entire cryptocurrency industry, with high-profile backers like Anthony Scaramucci also weighing in.

Blockchain Applications

▌The Aave community voted to pass the "Aave v2 Ethereum reserve coefficient "Adjustment" Temperature Check Proposal

Golden Finance reported that according to the Snapshot governance page, the Aave community voted to pass the "Ethereum v2 reserve coefficient adjustment" temperature check proposal. The proposal shows that it is recommended to increase the Aave v2 Ethereum Reserve Factor (RF) periodically to encourage users to migrate to Aave v3.

▌Uniswap: v4 version will be launched soon

According to official news, Uniswap announced that the v4 version will be launched soon. As previously reported, the first phase of the Uniswapv4 release is code freezing (in progress), including core code completion, testing, Gas optimization, security enhancements, and the finalization of peripherals; the second phase is audit and test network, with multiple audit companies Comprehensive audit and community audit competition, at the same time, v4 will be deployed to the test network and final adjustments to the code will be made; Phase 3 is the launch push, and v4 will be pushed to the Ethereum main network in the third quarter.

▌Solana Lianchuang: The competitor of cryptocurrency is not the traditional financial system, but the Web2 monopoly

Solana Labs Co-founder Anatoly Yakovenko posted on the

Cryptocurrency

▌Two Giant Whales 8 2.77 million ARB were jointly deposited into Binance hours ago

According to Spot On Chain monitoring, two giant whales 0x141 and 0xc99 jointly deposited 2.77 million ARB into Binance about 8 hours ago ( US$5.94 million), reportedly achieving a profit of US$3.29 million.

▌Data: Justin Sun’s address recharged 7 billion FLOKI to Poloniex

According to on-chain analyst @ai_9684xtpa monitoring, about 15 minutes ago, Justin Sun’s address 0x176 ...0a132 deposited 7 billion FLOKI to Poloniex, worth US$1.75 million. Currently, Justin Sun still holds 21.6 billion FLOKI, with a total value of US$5.45 million; FLOKI has increased by 688% in the past month, and its current price is US$0.0002516.

▌RNDR broke through 12 US dollars

The market showed that RNDR exceeded 12 US dollars and is now trading at 12.02 US dollars. The intraday increase reached 11.9%. The market fluctuated greatly. Please do a good job in risk control.

▌El Salvador’s Bitcoin profit reached US$74 million

According to Bitcoin News on social media Bitcoin profits reached $74 million (+60%).

▌ NFT sales have increased significantly in the past week, and Bitcoin-based NFT sales have occupied the top spot

In the past week, NFT sales have increased significantly, with total transaction volume It was US$442.02 million, an increase of 11.62% from the previous seven days. Leading this growth were Bitcoin-based NFTs, which topped the sales charts across 22 different blockchains, with sales of Uncategorized Ordinals and Nodemonkes on the Bitcoin blockchain reaching $41.46 million and $37.02 million respectively. Dollar. Ethereum-based collectibles trading followed closely with the second highest sales. Other blockchains, including Solana, BNB Chain and Mythos Chain, are also seeing active NFT sales. Blast Blockchain had the most significant weekly growth, surging 196.64% to reach $5,306,912 in sales.

Important economic developments

▌Economist: The U.S. unemployment rate unexpectedly rose, and the possibility of the economy falling into recession increased strong>

The U.S. unemployment rate unexpectedly rose to 3.9% from 3.7% in February, leaving economist and strategist David Rosenberg increasingly concerned that a sudden recession could hit the U.S. economy. "The unemployment rate is now 0.5 percentage points higher than the cycle low in January 2023, which undermines the soft landing narrative, because once the unemployment rate rises this much from the low, a recession is likely to come," Rosenberg said. Previous Sam's Law proposed by Federal Reserve economist Claudia Sahm shows that when the moving average of the three-month unemployment rate in the United States, minus the low unemployment rate in the previous 12 months, exceeds 0.5%, the economic recession begins. This situation is consistent with all recessionary stages. By that rule, it's currently 0.27 percentage points above a one-year low, so the unemployment rate must continue to move higher to trigger recession indicators.

▌Santiment: Bitcoin and Ethereum outperform S&P 500’s weekly gains

Santiment reports that Bitcoin and Ethereum outperformed the S&P 500's weekly gains, rising 10% and 14.7% respectively, while the S&P 500 rose just 0.5%.

Golden Encyclopedia

▌What determines the price of Bitcoin?

Market forces of supply and demand influence the price of Bitcoin. When there are more sellers, prices usually go down and vice versa. Bitcoin prices are also affected by factors such as media reports, investor sentiment, and regulatory news, leading to rapid price fluctuations. Supply and demand market dynamics that affect the prices of other goods and services also determine the price of Bitcoin.  

Disclaimer: As a blockchain information platform, Golden Finance publishes articles for information reference only and not as actual investment advice. Please establish a correct investment philosophy and be sure to increase your risk awareness.