German Bitcoin address balance has been exhausted, Ethereum gas fee dropped to 2gwei

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

The German government's Bitcoin address balance has been exhausted

According to Arkham monitoring, the German government's Bitcoin address balance has been exhausted, and 3846.05 BTC (about US$223.81 million) have just been sent to Flow Traders and 139Po (possibly institutional deposits/OTC services). The current Bitcoin balance in the address is 0.

US Congressman: Bitcoin and digital assets are the future

US Senator Cynthia Lummis wrote on the X platform that Bitcoin and digital assets are the future. The main personal agenda includes: banning the retail of central bank digital currencies; clearly protecting self-hosted Bitcoin wallets; and restoring the dominance of the US dollar in the 21st century. Earlier, she said on a FOX news show that "having Bitcoin reserves can help the dollar remain strong."

XLink, a Bitcoin cross-chain bridge, has joined the Core Ignition airdrop incentive program

On July 11, XLink, a Bitcoin cross-chain bridge developed by AlexLab, has joined the Core Ignition airdrop incentive program. From July 10 to 28, users can use XLink Bridge to bridge and deposit aBTC into Colend and Glyph to get 5x Sparks multipliers and additional dApp rewards such as APY and transaction fees, as well as a tiered points system including XLink points, G points and Colend points for upcoming airdrops.

UK regulators remind the public to be wary of fake lawyer Bitcoin scams

The UK Solicitors Regulation Authority (SRA) has issued a warning about a new scam that involves fake lawyers sending emails asking for Bitcoin payments. The scam email contains a Bitcoin wallet link that may contain malware. It falsely uses the name "Patrice Joyce" and claims to be associated with legitimate firms Attwaters Solicitors LLP and Attwaters Jameson Hill Solicitors. However, the SRA confirmed that they do not authorize a lawyer named Patrice Joyce. The SRA advises individuals to perform due diligence when receiving suspicious correspondence. This includes contacting the law firm directly through a reliable means to verify the authenticity of the email and checking the SRA's records to confirm the authorization of the individual or law firm.

Goldman Sachs Global Head of Digital Assets: The Launch of Spot Bitcoin ETF is a New Dynamic in the Crypto Space

Mathew McDermott, Global Head of Digital Assets at Goldman Sachs, said the launch of the spot Bitcoin ETF is "a new dynamic in the cryptocurrency space."

Lugano, Switzerland encourages Bitcoin payments for daily expenses

Bitcoin journalist Joe Hall recently visited Lugano, Switzerland, to verify its reputation as the world's friendliest crypto city. Lugano is known for its progressive acceptance of digital currencies and its leading position in Bitcoin trading. Hall visited the city’s Bitcoin School and interviewed Blockstream CEO Adam Back and Tether CEO Paolo Ardoino about the future of Bitcoin and Lugano’s role in crypto innovation. He also tested the feasibility of using only Bitcoin for daily expenses in Lugano, including dining and shopping, and found that Lugano not only supports Bitcoin payments, but also actively encourages this payment method, demonstrating that a Bitcoin-based lifestyle is completely feasible here.

Bitcoin’s correlation with the U.S. stock market falls to a multi-month low

According to data from The Block, the 30-day Pearson correlation between Bitcoin and the Nasdaq and Bitcoin and the S&P 500 fell to -0.84 and -0.82, respectively, the lowest since November 2023. The Block’s data is consistent with a recent report from Bloomberg, which said that the 90-day correlation coefficient between Bitcoin and the Nasdaq 100 fell to 0.21 on Tuesday, a multi-month low.

Bernstein: Bitcoin miners are partners in building AI data centers

Brokerage firm Bernstein said in a research report on Tuesday that Bitcoin miners are attractive partners to help build artificial intelligence (AI) data centers due to their available power and operational capabilities. The report pointed out that Bitcoin miners have obtained a large amount of power supply and currently control about 6 gigawatts (GW) of power access, which will reach 12GW by 2027. Miners are in a leading position in the "large-load power interconnection queue" and can therefore help potential partners save time in obtaining energy supply. Bernstein said that it is expected that the top five Bitcoin miners in the United States will continue to consolidate their scale and increase Bitcoin's global hash rate to about 25%, and choose to turn to artificial intelligence in the medium term. The hash rate is a proxy for industry competition and mining difficulty. The broker remains bullish on Bitcoin and predicts that the asset will reach $200,000 by 2025, $500,000 by 2029 and more than $1 million by 2033, and said its confidence has increased following the successful launch of a spot Bitcoin exchange-traded fund (ETF) in the United States in January.

Ethereum

Ethereum network gas fee drops to 2 gwei

Etherscan data shows that the current Ethereum network gas fee has dropped to 2 gwei.

Franklin Ethereum Trust Submits 8-A12B Application

Franklin submitted its 8-A12B application for the Franklin Ethereum Trust to the US SEC.

Vitalik: Ethereum network should respond to 51% attacks in a more automated way

Ethereum co-founder Vitalik Buterin advocated for pushing the Ethereum network to be better prepared for 51% attacks in his keynote speech at the ETHCC in Brussels. He believes that an automated response to such attacks should be prepared, which will reduce the pressure on the social layer. A potential response to such an attack is for honest validators to move to a fork of the chain, and the current plan will rely heavily on social consensus, with community members working together to agree on the fork. However, Buterin believes that it would be better if the network could be better prepared for such a response. He said that this response is largely automated and planned in advance. Buterin also advocated for increased adoption of light clients in the Ethereum infrastructure layer, especially wallets. He said that they should also support verification of zk-EVM to provide further support for Layer 2 networks. In addition to this, he also believes that the protocol should be further simplified to make life easier for developers and users.

Ethereum ETF issuers may follow Bitcoin and set the fee rate between 0.19% and 0.3%

The spot Ethereum ETF of asset management companies Invesco and Galaxy will charge investors a management fee of 0.25%, slightly higher than the 0.20% disclosed by VanEck last month. Analysts believe that the management fee is used by the issuer to pay for the maintenance costs of the fund, such as marketing expenses, wages and custody services. Most issuers of spot Bitcoin ETFs choose a fee rate between 0.19% and 0.30%, and Ethereum ETF issuers may do the same.

Six US spot Ethereum ETF applicants have submitted S-1 document updates

Six US spot Ethereum ETF applicants have submitted S-1 document updates, including Fidelity, VanEck, Franklin, 21Shares, Grayscale, and BlackRock.

Other projects

Solana Ecosystem NFT Project RETARDIO Market Value Surpasses DeGods

Golden Finance reported that according to Degen News’ post on the X platform, Magic Eden platform data showed that the NFT project RETARDIO has surpassed the NFT project DeGods market value.

Meme project DOGS’s built-in Telegram Stars purchase function has aroused community doubts

On July 12, Telegram’s native Meme project DOGS currently has a built-in Telegram Stars purchase function, with an exchange rate of 1:1, while Telegram Stars can be purchased directly with fiat currency. According to reports, Telegram Stars are virtual items that allow users to purchase digital goods and services from robots and applets within the Telegram ecosystem, and give gifts to content creators on the Telegram platform. This move has caused widespread discussion in the crypto community, saying that this may be an official sale of coins, and the total amount of tokens can be issued indefinitely, which has aroused community doubts. Solana Blink concept NFT project SEND IT has exceeded $1 million in transaction volume in the past 24 hours. Golden Finance reported that according to Cryptoslam data, Solana Blink concept NFT project SEND IT has exceeded $1 million in transaction volume in the past 24 hours, currently reaching about $1.069 million, an increase of 171.32%, and the on-chain transaction volume is close to 20,000, of which the number of NFT buyer addresses is about 1,800 and the number of seller addresses is close to 3,000. So far, the total sales amount of SEND IT on the chain has reached $1.929 million, with a transaction volume of about 215,000.

The built-in Telegram Stars purchase function of the Meme project DOGS has aroused community doubts

On July 12, Telegram's native Meme project DOGS now has a built-in Telegram Stars purchase function, with an exchange rate of 1:1, and Telegram Stars can be purchased directly with legal currency. It is reported that Telegram Stars is a virtual item that allows users to purchase digital goods and services from robots and applets within the Telegram ecosystem, and give gifts to content creators on the Telegram platform. This move has caused widespread discussion in the crypto community, saying that this may be an official sale of coins, and the total amount of tokens can be issued indefinitely, which has aroused community doubts.

Terraform Labs will sell its four projects

Golden Finance reported that the bankrupt cryptocurrency company Terraform Labs is considering selling its four businesses as part of a $4.5 billion deal with U.S. securities regulators that will terminate its business operations, including: portfolio tracking platform Pulsar Finance, crypto wallet platform Station, code-free decentralized autonomous organization (DAO) management platform Enterprise, and its smart contract automation protocol Warp. Terraform Labs added that the sale is to "maximize value for creditors and other stakeholders" and is part of its "broader and gradual closure of the business in accordance with the terms of the settlement with the U.S. Securities and Exchange Commission."

Goldman Sachs to launch three tokenization projects by the end of the year

Golden Finance reported that Mathew McDermott, global head of Goldman Sachs digital assets, said that Goldman Sachs intends to expand its cryptocurrency products, including launching ambitious initiatives in the field of tokenization; Goldman Sachs plans to launch three tokenization projects with major clients by the end of this year, including its first project in the United States.