ProjectWeek: BTC-anchored coins on Ether hit record high

Project Weekly, taking a look at the progress of this week’s mainstream projects as well as star projects.

Project Weekly covers the week’s key news, market and contract data, mining information, project news, technical progress and other industry developments. In this article, Project Weekly takes a look at this week’s progress of mainstream and star projects.

Bitcoin
Latest Bitcoin Difficulty Downgrade Forecast Has Been Over 28%

July 3, 2012 – With about 2 hours to go before the biggest mining difficulty cut in Bitcoin history, the latest predictions show that the network-wide difficulty cut has exceeded 28% and is expected to drop to 14.35 T. The current Bitcoin network-wide arithmetic is 85.48 EH/s, the network-wide difficulty is 19.93 T, and the number of unconfirmed transactions is 46,413.

Data: Grayscale Bitcoin Trust to Unlock About 41,800 BTC This Month

Bybt data shows that the Grayscale Bitcoin Trust (GBTC) will unlock about 41,800 bitcoins in mid-to-late July, with the largest single-day unlock on July 18 (16,200). In addition, approximately 7,370 bitcoins will be unlocked by the Grayscale Bitcoin Trust in August. The Grayscale Bitcoin Trust suspended new investments in March of this year, and since then GBTC has maintained a negative premium, falling below -20% at one point in May and now rebounding to around -10%. There will be no more GBTC unlocks after September because of the 6-month lock-up rule for trust shares (in case GBTC is not opened for new investments).

BTC anchor coin issuance on ethereum exceeds 260,000 coins, a record high

According to the latest data from debank, the number of BTC anchor coins issued on ethereum exceeded 260,000, a record high. The most issued BTC anchor coin is WBTC, with 193,275 coins issued. BTC anchor coins are a special class of tokens issued on non-Bitcoin networks with prices anchored to native Bitcoin.

USDT accounts for about 53.3% of bitcoin trading

Golden Finance news, according to cryptocompare data, the current bitcoin trading situation according to the trading currency ranking, the first ranking name is USDT, accounting for 53.3%; ranked second is the United States dollar, accounting for 13.68%; ranked third is BUSD, accounting for 7.13%; ranked fourth is the Japanese yen, accounting for 4.18%; ranked fifth is the euro, accounting for 3.81%. 3.81% of the total

Lightning Network Public Channel Capacity Reaches All-Time High of 1,651 BTC

Golden Finance reports that crypto researcher Kevin Rooke tweeted today, “The Lightning Network added 250 Bitcoins to its public channel capacity in June, the largest Bitcoin inflow to the Lightning Network since March 2019. Public channel capacity is now at an all-time high of 1,651 BTC.”

Number of Active Bitcoin Addresses Drops to New Low Since April 2020

Golden Finance reports that according to data provided by blockchain analytics firm Glassnode, the seven-day moving average of the number of active Bitcoin addresses (addresses active on the network as senders or receivers) fell to 758,165 on Wednesday, the lowest level since April 2020.Charlie Morris, chief investment officer at ByteTree Asset Management, said , the decline in active user engagement indicates weak demand. The hype cycle is now over and the market is unable to attract new entrants at the same rate. In addition, the 7-day average of daily trading volume tracked by Glassnode also fell below 300,000 for the first time since March 2020.

Ether
JPMorgan: Ether’s switch to PoS consensus mechanism will increase adoption

In a recent report, two analysts at JPMorgan said that the switch to a PoS consensus mechanism for Ether will increase adoption as institutional and retail investors will take advantage of the high returns from Staking. The current annual revenue estimate generated by Staking for all cryptocurrencies is $9 billion, and the report predicts that this figure could reach $20 billion after Ether’s shift to a PoS consensus mechanism, and that annual pledged revenue for all cryptocurrencies could reach $40 billion/year by 2025. The report also notes that declining volatility in cryptocurrency prices and declining energy consumption will be important factors driving the adoption of Ether by mainstream users. (Crypto Briefing)

Data: DeFi’s total locked-in value exceeds $100 billion, up 151 times in the last 1 year

At the end of June, DeFi’s total locked-in value (TVL) reached $117.6 billion, compared to $773 million at the end of June 2020, an increase of more than 15,170% in just one year. The largest amount of money is locked up in Ether, at over $80 billion. The next largest is the Coin Smartchain (BSC) with $13.4 billion. (CryptoRank)

Data: June NFT transaction volume down 49.8% YoY

According to the data of OUKE Cloud Chain on-chain guru, the transaction volume of NFT on Ether in June totaled $103 million, down 49.8% YoY; the number of transactions totaled 71,900, down 20% YoY. Among them, CryptoPunks, Bored Ape Yacht Club, and Sorare are located in the top three of transaction hotness.

Uniswap v3 liquidity mining contract has been deployed to the main Ethernet network and all test networks

Uniswap Labs tweeted today that the Uniswap v3 liquidity mining contract has been deployed to the main ethereum network and all test networks. v3 liquidity mining is similar to v2 in that LPs can pledge their liquidity and receive a proportional reward based on their liquidity contribution. LPs can earn rewards as long as liquidity stays in range. v3 also introduces improvements in that LPs can now participate in multiple liquidity mining programs simultaneously on a single token pair, and miners no longer need to choose and switch between rewards. uniswap Labs will be releasing guidance, documentation and other infrastructure on liquidity mining in the near future.

JPMorgan: Ether Upgrade Could Drive Pledge Industry to $40 Billion

JPMorgan Chase CEO Jamie Dimon said in a report this week that pledging (staking) will become a source of revenue for both institutional and retail investors as blockchains running more energy-efficient networks than bitcoin and ethereum become more popular, Golden Finance reported. According to the report, pledging today generates about $9 billion in annual revenue for the cryptocurrency industry. The authors predict that the shift to proof-of-stake in Ether will spur adoption of alternative consensus mechanisms following the launch of the long-awaited Ether 2.0 next year and could lead to a spike in the value of pledges to $20 billion in the quarters following the launch of Ether 2.0 and $40 billion by 2025.

Other Projects
DOT to unlock 1.27 million this week, pledged 3.67 million last week

According to Subscan data, the total number of DOTs unpledged by Poca this week (June 28-July 4) is 1,272,700, and the peak of unpledging was on July 4 with 583,400 DOTs unpledged. 3,672,600 DOTs were pledged last week (June 21-June 27), and the current DOT pledge rate of Poca network is 64.1%. The line shows that the average price of DOT is now $14.78, up 0.80%.

Balancer goes online on Polygon Network

July 1 news, Balancer online Polygon, Balancer official said will cooperate with Polygon to enhance DeFi liquidity and reduce transaction fees. balancer will be in Polygon network for liquidity mining.

ETC Group to Offer Carbon-Neutral Bitcoin ETP

Crypto investment firm ETC Group will offer a carbon-neutral Bitcoin exchange traded product (ETP). This comes after Elon Musk stirred up demand for an environmentally friendly cryptocurrency fund and the European Union cracked down on highly polluting investments. The company has pledged to cover the cost of carbon neutrality and not make green alternatives more expensive. (Decrypt)

Wavefield TRON surpasses 7.7 million transactions in a single day, a record high

According to the latest data from the TRONSCAN blockchain browser, on July 1, 2021, the number of wavefield TRON transactions in a single day reached a record high of 7,764,639, surpassing 7.7 million. The current total number of Wavefield TRON transactions has exceeded 2.1 billion. Wavefield TRON data has been steadily advancing, and more transactions will be ushered in while the Wavefield ecology is gradually becoming stronger.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/projectweek-btc-anchored-coins-on-ether-hit-record-high/
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