Former Goldman Sachs Executive: Solana Is Like Ethereum in 2018, Has the Potential To Perform Well
Former Goldman Sachs executive Raoul Pal said that Solana (SOL) is like Ethereum during the bear market of 2018 and 2019.
Pal said in an interview that SOL is his second largest cryptocurrency investment portfolio allocation and believes that it is likely to repeat the dramatic recovery from the bear market to new highs that Ethereum experienced a few years ago.
Decentralized Liquidity Staking Protocol Diva Launched on Operator Testnet
August 14th, according to official sources, the decentralized liquidity staking protocol Diva launched the Operator testnet, which is the first Ethereum liquidity staking solution supported by distributed validators (DVT). Diva Operator nodes enhance Ethereum by effectively performing validation duties, and after connecting to Ethereum, they use MPC DKG to coordinate key management with other Diva nodes and use Diva's DVT collaboration for validation.
Founder of ThreeDAO: The Layer 2 That Does Not Issue Coins Is the Best Layer 2
According to the news from DeepTechFlow, the founder of ThreeDAO, Chen Jian Jason, discussed the issue of "Layer2 segmentation weakens Ethereum's functionality" in a tweet. He emphasized that Ethereum's goal is to become the underlying chain and achieve a "lying and earning" model through Layer2.
Data: On August 12, the Single-Day Destruction Volume of Ethereum Hit a New Low Since 2023
According to data from The Block, on August 12th, the daily amount of Ethereum destroyed was only 570.54 ETH, the lowest since 2023. This is close to the low point of 498.16 ETH set on October 2, 2022.
Data: Aave's native stablecoin GHO circulation exceeds 20 million pieces
According to Etherscan data, the issuance of Aave's native stablecoin GHO has exceeded 20 million since it was launched on the Ethereum mainnet on July 15, with a current total of 20,029,456. Previously, the issuance of GHO exceeded 10 million on August 2.
Ethereum Open Interest Hits Near One-Year Low on CME
On August 12th, according to K33 Research data, open positions for Ethereum on the Chicago Mercantile Exchange (CME) hit a nearly one-year low, and open positions for Bitcoin also saw a significant decline.
Board of Directors of Hong Kong-Listed Company Boyaa Interactive Approves a Budget of US$5 Million to Purchase Cryptocurrencies to Promote Business Layout in the Web3 Field
On August 11th, according to the Hong Kong Economic Times, Hong Kong-listed company Boyaa Interactive announced that its board of directors has approved a budget of $5 million (approximately HKD 39.098 million) to purchase cryptocurrencies, mainly including Bitcoin (BTC) and Ethereum (ETH), on regulated and licensed trading platforms within the next year to promote the company's future business layout in the Web3 field.
Crypto Whales Accumulate Largest Amount of Cardano (ADA) in Nearly a Year, Says Santiment Analytics Firm
According to Santiment, affluent crypto investors have been accumulating Cardano (ADA) in large amounts, with wallets holding between $10,000 to $100,000 worth of ADA accumulating the largest amount in almost a year.
Ethereum's Top Whale Addresses Continue Accumulating Despite Lack of Catalyst
Ethereum (ETH) has remained stagnant at around $1,850 for several weeks, following Bitcoin's trajectory since the beginning of 2023. Despite this, data shows that the top 10 Ethereum addresses have continued to accumulate the cryptocurrency, now holding 34.6% of the total supply. However, since the Merge event in September 2022, ETH has lacked a major catalyst for price growth.
Fluent, the Execution Layer of Ethereum zkWASM, Will Launch a Test Network, and Applications for the Builder Plan Have Been Opened
On August 10th, it was announced that the Ethereum zkWASM execution layer Fluent testnet is about to be launched. Applications for the early builder program have already been accepted. Fluent uses ZK Rollup technology to address performance and cost limitations, while reducing the learning curve for developers by using the Web Assembly (Wasm) virtual machine. It is also compatible with EVM and supports developers to build DApps using Rust, TypeScript, Solidity, and other languages.
Data: The Total Amount of Lido Ethereum Pledged Exceeded 8 Million
On August 10th, the total amount of Ethereum staked on Lido has surpassed 8 million, reaching 8,022,346 ETH or approximately 14.855 billion USD at the time of writing. The Ethereum staking rewards paid out have reached 383,914 ETH or approximately 710 million USD, with the current Ethereum staking APR at 3.8%. Additionally, the total value of staked tokens on the Lido platform is approximately 15 billion USD.
Coinbase's Base Network Launches Publicly with NFT Giveaway
Coinbase is set to launch its Base Network, a new Ethereum-compatible side chain that will utilize Optimism Rollups for faster transaction processing. While this may result in slightly slower transaction speeds, it will also provide a more secure process as transactions must be validated on chain. The launch of Base Network comes as a solution to Ethereum's congestion during high transaction volume periods.
PayPal Launches Ethereum-Based Stablecoin PYUSD, Sparking Debate and Expectations
PayPal's launch of the Ethereum-based stablecoin PYUSD has generated mixed reactions within the crypto community. While it presents an opportunity for Ethereum to gain mainstream adoption, concerns have been raised about potential threats to decentralization and personal asset control. The stablecoin, issued by Paxos Trust Co., aims to facilitate digital payments and Web3 applications. Some view this development as a positive step towards Ethereum becoming the monetary layer of the internet.
PayPal Launches PYUSD Stablecoin on Ethereum, Raises Concerns About Centralization and Control
Paypal has introduced a new stablecoin named PYUSD, which is based on Ethereum. The crypto community has mixed reactions to this announcement, with some viewing it as a positive step towards Ethereum's mainstream adoption, while others are concerned about its potential impact on decentralization and personal control of assets. PYUSD is designed for digital payments and Web3, and will soon be available to US customers. However, some smart contract auditors have raised concerns about the centralization attack vector in the smart contract, and others have compared it to a censorship-enabled central bank digital currency.
SEC Lists 48 Cryptocurrencies as Securities, Excluding Bitcoin and Ethereum
The SEC has reportedly shared a list of 48 cryptocurrencies that it considers to be securities, according to a tweet by Chinese journalist Colin Wu. Notably, Bitcoin and Ethereum are not on this list. The SEC has been cracking down on cryptocurrencies, claiming that most digital tokens are unregistered securities. Ripple Labs and its XRP token were the first target of the SEC's securities agency, with the company accused of selling XRP as unregistered securities to investors.
Approximately $73.5M Worth of Cryptocurrencies Stolen in Curve Reentrancy Attack, Partially Recovered
According to reports, approximately $73.5 million worth of cryptocurrencies on Ethereum were stolen in the Curve Reentrancy exploit. As of now, 73% of the stolen funds ($52.3 million) have been returned.The remaining $19.7 million worth of cryptocurrencies on Ethereum have not yet been returned by the initial exploiter of the Curve CRV-ETH vulnerability (0xb752...b324).
Bitcoin's Price Stagnant at $29K, Speculation on Push to $30K Amidst Growing Volatility Pressure and Positive Momentum in New Address Creation
The price of Bitcoin is currently hovering around $29K and there is speculation about what it will take to push it past $30K. Despite this, there are new developments in the crypto world and DeFi is still relevant. The article also includes CSS code for a responsive widget container and media queries for different screen sizes.
Ethereum L2 Scaling Layer Base to Launch Mainnet on August 9
Base, the Ethereum Layer 2 scaling solution, is launching its mainnet on August 9, allowing developers to deploy applications and opening bridges for selected tokens. To celebrate the launch, Base is organizing "Onchain Summer," a month-long festival featuring art, music, gaming, and advocacy, with collaboration from major brands.
MEV bot returns most of drained funds from Curve Finance pool after Ethereum IDM negotiations
The MEV bot that drained over 6,000 Ether from the Curve Finance pETH-ETH pool has returned most of the funds to the JPEG'd deployer. The bot's address sent a message on the Ethereum blockchain to prove their email address was associated with the frontrunning bot, which led to negotiations and the partial return of funds. However, all other exploited funds are still under the control of the attacker who initiated the exploit, and the Curve team is attempting to get the rest of the funds returned. This is an ongoing story and more information will be provided as it becomes available.
Ethereum's Cancun-Deneb upgrade to enhance scalability and security
The upcoming Cancun-Deneb upgrade on the Ethereum blockchain will enhance scalability and security. The Cancun upgrade includes 5 EIPs, including the eagerly awaited Proto-DankSharding, which will lay the groundwork for the full implementation of DankSharding. Other EIPs aim to decrease data storage costs, enhance cross-chain bridges and stake pools, and eliminate code that could terminate smart contracts.
