Golden Weekly is a weekly blockchain industry summary column launched by Golden Finance, covering the week's key news, market and contract data, mining information, project dynamics, technological progress and other industry dynamics. This article is a project weekly, taking you to see the progress of mainstream projects and star projects this week.
Bitcoin
Fidelity: Bitcoin's volatility has been lower than Netflix in the past two years
Fidelity Digital Assets said in a research report that Bitcoin (BTC) has long been seen as a highly volatile asset, but its volatility is declining and will continue to decline as the cryptocurrency matures.
Analyst Zack Wainwright wrote that new assets usually take time to experience price discovery, mature, and then enter lower volatility. When the United States abandoned the gold standard in the 1970s, even gold showed high volatility. The report said that Bitcoin has shown signs of maturity in its 15 years of existence, and its volatility has reached a new annual low.
Fidelity said that Bitcoin's volatility has been lower than Netflix in the past two years.
Bitcoin network high priority transaction fees rise to 472 Sat/byte
Mempool data shows that the current Bitcoin network high priority transaction fees are temporarily reported at 472 Sat/byte, and the medium priority transaction fees are temporarily reported at 454 Sat/byte.
Bitmex former CEO: Bitcoin trading price will be between $60,000 and $70,000 before August
Bitmex former CEO Arthur Hayes predicts that by August, Bitcoin will fluctuate between $60,000 and $70,000. Hayes explained that the slow addition of billions of dollars of liquidity each month will suppress negative price movements from now on. While I don't think cryptocurrencies will immediately fully realize the inflationary nature of the recent U.S. monetary policy announcement, I expect prices to bottom out, fall, and then begin to slowly move higher.
David Marcus: If Bitcoin can meet the speed of AI, it will become the native currency of AI
David Marcus, former president of PayPal and current CEO of Lightspark, shared insights on the convergence of AI and Bitcoin during the Microstrategy World 2024 event in Las Vegas. He believes that Bitcoin can eliminate the inefficiencies and frictions inherent in fiat currencies and predicts that AI agents will adopt this digital native medium for value exchange.
Marcus claims that Europeans will not accept the theoretical medium for AI agents to exchange value in the US version, and vice versa. What is the most neutral form of digital native network currency? It is Bitcoin. Marcus pointed out that if Bitcoin can meet the speed of AI, it will basically become the native currency of AI.
BlackRock: Sovereign wealth funds, pension funds, etc. will enter Bitcoin ETFs in the coming months
Robert Mitchnick, head of digital assets at BlackRock, said in an interview that financial institutions such as sovereign wealth funds, pension funds and endowment funds may begin trading spot ETFs in the coming months.
Robert said that many interested companies, whether we are talking about pensions, endowments, sovereign wealth funds, insurance companies, other asset managers, family offices, are conducting ongoing due diligence and research dialogues, and BlackRock is playing a role from an educational perspective.
Ethereum
133rd Ethereum ACDC meeting: goal to complete devnet in 7-10 days
Ethereum developers held the 133rd ACDC conference call. First, an overview of the latest research on the Ethereum protocol confirmation rules, then Pectra updates, discussions around EIP-7547 and CFI status, and the decision to put it on hold for the time being. Updates to the v1.5.0-alpha.1 specification release. Regarding the implementation update of devnet-0, most teams are progressing smoothly, but there are also some unexpected complexities, and the goal is to complete the devnet in 7-10 days.
Some reflections on the complexity, inclusion process, and scoping of EIPs. Next, EIP-7684 is introduced to reduce the phenomenon of "deposit fronting". The teams are busy with the implementation of devnet-0, but it can be used as a thread in the coming months to refine specific mitigation measures and formally propose EIPs.
Finally, discussing PeeerDAS, the client team has made progress in implementation, and open issues around the number of regulatory per data sample and the synchronization assumption of sampling ("track or not track") have agreed that in the initial PeerDAS testnet, clients can implement the tracking strategy that best suits them, as this is entirely a local decision. It is hoped that a specific strategy will be agreed in production, but there seems to be disagreement on the best approach at present.
In addition, the next ACDC will be cancelled because the client team is busy participating in the interoperability event. The next ACDC will be held at 22:00 on May 30.
Australia is expected to approve spot Bitcoin and Ethereum ETFs by the end of 2024
Australia will follow the footsteps of the United States and Hong Kong and launch a Bitcoin ETF. ASX Ltd., which handles about four-fifths of the country's stock trades, expects to approve the main board's first spot Bitcoin ETFs by the end of 2024, according to people familiar with the matter who asked not to be named.
Sydney-based BetaShares is working to launch a product on the Australian Stock Exchange, a spokesman said in an interview. Another local company, DigitalX Ltd., said in its half-year results in February that it had applied. Justin Arzadon, head of digital assets at BetaShares, said U.S. inflows prove digital assets are here to stay. Arzadon added that the company has reserved ASX tickers for spot Bitcoin and spot Ethereum ETFs.
Michael Saylor: SEC will designate Ethereum as a security and reject spot ETF applications in the summer
MicroStrategy executive chairman and co-founder Michael Saylor believes the SEC will classify Ethereum as a security this summer and reject related spot ETF applications submitted by several asset managers, including BlackRock.
Saylor made the prediction in a social media post while speaking at the MicroStrategy World 2024 conference on May 2. He further predicted that other cryptocurrencies "below the stack" would also receive unregistered names, including BNB, SOL, XRP, and ADA. Saylor asserted that Bitcoin alone has received full institutional recognition. He called BTC a general-purpose institutional-grade crypto asset and said there won't be another.
TD Cowen: US SEC is unlikely to approve spot Ethereum ETF before 2025
Investment bank TD Cowen said it expects the legal battle between Consensys and the US SEC to last for several years, and they still believe that the US SEC is unlikely to approve spot Ethereum ETF before 2025.
An Ethereum ICO participant address pledged 1959 ETH to the Ethereum beacon chain after 8.8 years of dormancy
According to the on-chain data analyst @ai_9684xtpa, the dormant pre-mining address (ETH ICO participant address) that became active again after 8.8 years has transferred the 1959 ETH it holds to the new address 0x1D3...31115 multiple times in the past two hours, and then all of them were pledged to the Ethereum beacon chain. At present, these 1,959 ETH have made a floating profit of 5.81 million US dollars.
Other projects
Payment giant Stripe integrates Avalanche network
Payment giant Stripe announced the integration of Avalanche network, allowing users to seamlessly access crypto products and decentralized applications, such as decentralized trading platforms and NFT platforms running on Avalanche, which also means that users can purchase AVAX directly through mobile applications without going through exchanges.
io.net founder: apologize to the community for the attack, and will still launch IO tokens as planned
Solana Ecosystem DePIN Protocol io.net founder and CEO Ahmad Shadid released a post-analysis of the April 27 incident report on social media and said that in the past 120 hours, io.net has worked hard to expel witch attackers from the network, launched multiple security patches, and established a new security model to prevent future accidents. The network infrastructure is now fully operational and operating normally.
In addition, Ahmad Shadid said, "io.net is a team of more than 100 people who are cleaning up fake GPUs and making the indicators displayed in the user interface clearer. io.net puts security and stability first, and io.net operates in a transparent manner. Our business team is currently coordinating the restart of the network, prioritizing supplier relationships, and restoring the supply of the network as soon as possible. We will still launch IO Cloud v2 and IO tokens as planned. This attack is a painful lesson for me, and I apologize to the community. Most of the criticisms io.net has received are reasonable, and the network will continue to be improved based on community feedback.
Moonbirds: The Moonbirds universe is being built and will join Mythics with commercial copyright
Moonbirds tweeted that the Moonbirds Universe is being built, and Moonbirds will join Mythics in the form of commercial copyright. At the same time, new art directions and 3D images will be introduced for animation, Otherside and other fields, led by Colin Hesterly.
Data shows that Moonbirds floor price rose to 0.742 ETH, with a single-day increase of 27.49% and a seven-day increase of 48.7%
Aave Labs releases V4 roadmap governance proposal: planned to be released in mid-2025
Aave Labs has announced three governance proposals to guide the development of its Aave V4. The protocol said in a post on its governance forum on Wednesday that the Aave V4 roadmap, which is in an advanced research stage, proposes several improvements to the Aave lending platform, such as improving support for its native GHO stablecoin and reducing transaction fees. The proposal also reveals the developers' plan to automatically calculate the protocol's borrowing rate and part of the DAO governance process.
The release of Aave V4 is scheduled for mid-2025. The launch of this upgrade is part of a broader initiative called "Aave 2030," which aims to significantly reform the protocol in the same way by 2030.
Binance Web3 wallet adds features such as ARC-20 integration and Taproot support
According to the official announcement, Binance Web3 wallet has added ARC-20 token integration in Binance Inscriptions Marketplace, Taproot support for Bitcoin addresses, and several new network integrations such as B² Network, Base, BEVM, Sui, Solana, etc.
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