Solana’s DeFi Rise Challenges Ethereum’s Dominance
The aim of this article is to delve into the factors underpinning Ethereum’s long standing dominance in the DeFi realm and to examine how Solana has made significant strides in recent times, though whether this can be sustained remains uncertain.
Ethereum supply staked reaches 25% in past week
According to data from IntoTheBlock shows that the amount of Ethereum supply staked in the past week reached 25%, with a large portion flowing into re-staking protocols.
CoinShares' CSO: Ethereum Narrative Struggles with Rise of Rival Layer-1s
According to CoinShares CSO Meltem Demirors, the narrative surrounding Ethereum has been hindered by the emergence of alternative layer-1 blockchains, making it less likely for crypto newcomers to choose Ethereum as their entry point into the digital asset ecosystem. Demirors believes that Ethereum's complicated scaling roadmap and lack of a strong narrative may be contributing factors. While the Ethereum community is strong, it lacks the die-hard brand loyalty displayed by Bitcoin maximalists. Demirors questions whether Ethereum can maintain market share as more layer-1 blockchains with faster, cheaper, and more intuitive user experiences emerge.
Linea mainnet has been bridged and transferred 394,740 ETH
According to Dune data, Linea mainnet has bridged 394,740 ETH with 929,505 transactions and 422,273 interacting addresses.
Ethereum traders target $3K, but historical data raises a few red flags for ETH price
ETH bulls call for $3,000 as the next stop for Ether, but the altcoin corrected by 46% the last time it traded above this level.
Kraken reports surge in data requests, most from U.S. law enforcement
Cryptocurrency exchange Kraken revealed a significant increase in data requests received in 2023. Among the main findings, Kraken disclosed that 28.2% of the requests came from US law enforcement agencies, accounting for a large portion of the total number of queries. Kraken provides services to a vast clientele of over 9 million in 190 countries/regions. The company revealed that it received 4,923 data requests in 2023, a significant increase from previous years. Kraken stated that it has a responsibility to comply with laws and regulations while prioritizing the protection of customer privacy. The company also claimed that it adheres to strict policies and procedures to ensure data disclosure complies with applicable laws and regulations.
Connext is online on Base, users will be able to stake native ETH through EigenLayer
Layer2 interoperability protocol Connext has announced that it has gone live on Base. Renzo Protocol users will be able to re-stake native ETH on EigenLayer on Base without interacting with Ethereum. In addition, users can also receive ezPoints and EigenLayer re-staking points.
ether.fi: Tokenomics and breaking news to be announced next week
Ether.fi, a liquidity re-staking protocol, has announced that it has staked 450,000 ETH and the number is still growing. The team will announce some token economics and other significant information next week.
A newly created address purchased 37 Moonbirds NFTs 4 days ago, with an average purchase price of approximately 1.08 ETH.
On February 17th, as reported by Blur market information, an address starting with 0xb5fc received 70 ETH from Bybit four days ago and made a large purchase of Moonbirds NFTs. On February 13th alone, they bought 37 Moonbirds NFTs with an average purchase price of about 1.08 ETH. The address then used some of the Moonbirds NFTs for collateralized borrowing and continued to buy Moonbirds and related NFT series.<br>As of the time of writing, the address currently holds 80 Moonbirds NFTs, 71 Moonbirds: Mythics, 28 Moonbirds Oddities, and 13 Mythics: Egg.<br>In today's news, Yuga Labs, the development team of Bored Ape Yacht Club, announced that they have acquired the development team of Moonbirds.
Ethereum L2 TVL exceeded US$25 billion, an increase of 10.97% in the 7th day
L2BEAT data shows that the current total locked value (TVL) of Ethereum Layer 2 is $25.34 billion, with a 7-day increase of 10.97%. The top five locked values are: Arbitrum One TVL is $12.25 billion, with a 7-day increase of 12.11%; OP Mainnet TVL is $6.5 billion, with a 7-day increase of 15.45%; Manta Pacific TVL is $1.76 billion, with a 7-day increase of 13.81%; Base TVL is $0.843 billion, with a 7-day increase of 6.89%; Metis TVL is $0.732 billion, with a 7-day increase of 10.34%.
A whale withdrew 11,999 ETH from Binance 2 hours ago
According to Scopescan monitoring, a whale withdrew 11,999 ETH (approximately $31.84 million) from Binance two hours ago (before the current ETH price increase).
Deribit: BTC and ETH options with a notional value of over $1.5 billion will expire and be delivered this Friday
According to Deribit data, nominal value of over $966 million in BTC options and $543 million in ETH options contracts will expire and settle this Friday (February 16th). The maximum pain point price for BTC is $45,500, and for ETH it is $2,350.
A giant whale deposited 23,232 ETH, equivalent to approximately US$61.12 million, to the pledge service provider P2P.org
As monitored by @ai_9684xtpa, in the past 4 hours, the whale address starting with 0xD7F has received a total of ETH from 8 addresses and deposited 23,232 ETH worth $61.12 million into the staking service provider P2P.org.
SAND, LINK, and COMP rank at the top of the Smart Money 24-hour inflow list
According to Nansen 2 data, the Smart Money 24-hour fund inflow tracking list on the Ethereum network is as follows:
The open position of ETH contracts across the entire network is $8.38 billion
According to Coinglass data, the total open position of ETH futures contracts on the entire network is 3.42 million ETH, equivalent to approximately 8.38 billion US dollars. Among them, Binance's open position for ETH contracts is 1.13 million ETH (equivalent to 2.77 billion US dollars), ranking first.
Last week, the number of new addresses on Ethereum hit its highest level since December 2022, approaching 100,000
According to The Block data, the number of new addresses on Ethereum (7DMA) rose to 99,280 last week, the highest level since December 2022. Unlike the transaction peak caused by NFTs, the number of new addresses seems to have some sustained growth, hovering around 70,000 for most of 2023.
Ethereum’s Dencun Upgrade
We are on the cusp of a significant evolution in the Ethereum blockchain ecosystem with the much-anticipated Dencun upgrade. This update marks a substantial advancement, bolstering Ethereum's capabilities by addressing some of the ecosystem's most pressing challenges, such as unlocking Layer-2 scalability and augmenting security for node operators and validators.
Intent based bridge between L2s and Ethereum powered by multi-proof storage proofs
Bridges are generally insecure and economically inefficient. They exhibit an asymmetry between users and bridge operators, where users can easily lose funds. We propose a bridge design that is simple, modular, and utilizes multi-storage proofs and the native messaging system between Ethereum and Layer 2 networks (L2s) as a fallback mechanism.
On Increasing the Block Gas Limit
Ethereum’s block size hasn’t been changed since EIP-1559.With a focus on the rollup-centric roadmap in the medium, or possible long term future one might argue that the way block space is used hasn’t been optimized for rollups yet. With the introduction of EIP-4844, we’re taking a big step towards making Ethereum more rollup-friendly. However, the capacity of Beacon blocks and the size of their individual parts have remained mostly unchanged.
Ethereum Layer 2 TVL is now at $21.3 billion, down 1.07% on the 7th
According to L2BEAT data, the total value locked (TVL) for Ethereum Layer2 is currently 21.3 billion US dollars, with a 7-day decrease of 1.07%. The top five locked amounts are: Arbitrum One (10.67 billion US dollars, 7-day increase of 1.38%); OP Mainnet (5.21 billion US dollars, 7-day decrease of 2.31%); Manta Pacific (1.53 billion US dollars, 7-day decrease of 11.02%); Base (0.733 billion US dollars, 7-day increase of 2.77%); Metis (0.615 billion US dollars, 7-day decrease of 12.27%).
