火星财经加密日报 | PancakeSwap代币CAKE最大供应量将由7.5亿枚降至4.5亿枚；Avalanche基金会拟购买其链上Meme类代币

Mars Crypto Daily Dec. 29, 2023

1. Today's news

According to The Block, Ethereum Layer 2 scaling solution zkSync has surpassed the Ethereum mainnet in terms of transaction volume in the past month. According to L2Beat data, zkSync has processed 34.7 million transactions in the last 30 days, surpassing the Ethereum mainnet's 34.2 million transactions in the same period. It was followed by Arbitrum, which processed 31.4 million transactions in the last 30 days. The spike in transaction volume for zkSync is attributed to the popularity of inscription activity, a feature that was originally created on Bitcoin and later expanded to EVM networks, including most Layer 2 chains. On December 16, when sync inscriptions launched on the web, zkSync experienced its largest spike in monthly transactions, processing a total of 5.3 million transactions that day, of which 4.6 million were inscription-related transactions.

According to Dune's latest data, the cumulative fee income of the Bitcoin NFT protocol Ordinals inscription minting exceeded 5,142 BTC, or about $221,168,342, and the total number of inscriptions minted reached 52,280,276.

According to the official announcement, the Avalanche Foundation announced its intention to recognize and encourage the culture and interest symbolized by meme-like tokens through the "Culture Catalyst" special program, creating a collection through the purchase of selected meme-like tokens based on the Avalanche chain. This move is intended to complement the Avalanche Foundation's ongoing engagement in the Avalanche ecosystem, including NFTs, RWAs, and other types of crypto assets, broadening its portfolio to cover more comprehensive possibilities. The collection's selection process is based on several key criteria, including factors such as the number of holders, liquidity thresholds, project maturity, fair start principles, and overall social sentiment.

Greeks.live macro researcher Adam released the December 29 option delivery data on the X platform:

- 178,000 BTC options expiring soon, with a Put Call Ratio of 0.67, a maximum pain point of $33,000, and a notional value of $7.59 billion;

- 1.49 million ETH options are about to expire, with a Put Call Ratio of 0.51, a maximum pain point of $1,900, and a notional value of $3.47 billion.

"Today is the annual delivery date, with a total of $11 billion of options expiring and delivery, higher than the total position of $9.8 billion last year, and more than twice the annual delivery volume at that time," it noted.

The market always goes into a state of low volatility at the end of the year, and this year is no exception, but thanks to the ETF expectations in January next year, the current overall IV level is not low. ”

According to DefiLlama data, the total market capitalization of stablecoins reached $130.679 billion, of which the USDT market value reached $91.496 billion, with a market share of 70.02%.

According to recent court documents, FTX sought court approval to offer to compensate customers with an estimated value of $16,871 per BTC, $1,258 per ETH, and $16 per SOL. The move drew strong criticism from FTX's creditors, who described it as another theft and urged people to oppose the plan.

FTX debtors argue that this valuation reflects a "fair and reasonable" price for the cryptocurrencies. This move is essential to prevent any obstacles in the bankruptcy process, adding: "It is neither practical nor necessary to liquidate each individual claim for digital assets, and it would unnecessarily delay Chapter 11 cases. In addition, FTX estimates that AVAX's compensation price is $14.19 per coin, while stablecoins USDT, TUSD, and BUSD are a few points below their $1 peg price. FTX creditors advised customers who wanted to object to the motion to write to the judge in charge of the bankruptcy case. Simon Dixon, CEO of BnkToTheFuture, said FTX's customers "should stand up to this initiative." Clients who disagree with the motion will have time to oppose the plan until January 11, 2024.

Dune data shows that in the past week, the BONK trading bot generated 70% of the total trading volume of the DEX bot, generating about $4.8 million in fee revenue during the period. In addition, as of press time, BONK bot's fees in the last 24 hours are comparable to those generated by DeFi protocols Aave and Curve.

James Seyffart, an analyst at Bloomberg ETF, said that ARK Invest and 21Shares have once again submitted a revised S-1 filing for its spot Bitcoin ETF.

以太坊创始人Vitalik Buterin发文《Make Ethereum Cypherpunk Again》。

The article points out that the deeper vision behind cryptocurrencies is to build a more free and open society and economy across the board, in which the different parts – technological, social, and economic – fit together.

The same was true of the early vision of "Web3", moving in a similarly idealistic but slightly different direction. However, since around 2017, these visions have faded into obscurity. There is very little talk of consumer crypto payments, the only non-financial application that is actually used on a large scale on-chain is ENS, and there is a big ideological divide where much of the non-blockchain decentralized community sees the crypto world as a distraction rather than a like-minded spirit and strong ally. In many countries, people do use cryptocurrencies to send and save money, but they usually do so through centralized means...... Having lived through that era, Vitalik believes that the main culprit for this shift is the rise in transaction fees.

In 2023, there are actually a lot of positive developments regarding the core challenges of scaling, as well as the various "side quests" that are critical to building a truly viable future for cypherpunk:

- Rollups are starting to really exist;

- The development of second-generation privacy solutions such as Railway and Nocturne following the regulatory crackdown on Tornado Cash;

- Account abstraction is starting to catch on;

- Light clients that have been forgotten for a long time begin to really exist;

- Zero-knowledge proofs, a technology that was once thought to be decades away, is now here, increasingly developer-friendly, and on the cusp of being available for consumer applications.

The growing realization that unfettered centralization and over-financialization can't be what "crypto" is all about, and that the key technologies mentioned above are finally coming to fruition, together present an opportunity for the industry to take things in different directions. That said, at least a portion of the Ethereum ecosystem should actually be the permissionless, decentralized, censorship-resistant, open-source ecosystem that the industry built in the first place.

The PancakeSwap community has voted on a proposal to reduce the maximum supply of CAKE from the current 750 million to 450 million.

More than 28,000 BTC (worth $1.19 billion) were withdrawn from centralized exchanges on Wednesday (December 27), the largest one-day outflow in BTC since December 14, 2022, Glassnode data showed. According to analytics firm CryptoQuant, Coinbase is the custodian of 9 of the 12 proposed BTC spot ETFs in the United States. More than 18,000 BTC flowed out of the Coinbase platform on Wednesday, leading the crypto community to speculate whether institutional on-chain activity is linked to Bitcoin spot ETFs. （CoinDesk）

Yesterday's news, according to data from Glassnode, CryptoQuant and Coinglass, Coinbase's Bitcoin wallet balance fell sharply, with about 30,000 bitcoins flowing out of the platform in a few days, the largest Bitcoin withdrawal since May this year. Recent outflows have brought Bitcoin holdings on the Coinbase platform to 411,000, the lowest since 2015.

2. Selected Articles

Ten years ago, Berlin's Bitcoin Kitz had more than a dozen shops accepting Bitcoin payments, as well as the Room 77 restaurant and bar. Gavin Wood's vision for "web3" technologies, including Whisper, Swarm, zero-knowledge proofs, and more, aims to build a freer and more open society and economy. Ethereum provides a platform to experiment, incubate, and receive secure technologies, and Zupass is an Ethereum-based privacy system that can be used for voting, payments, and more. The Ethereum community takes incentives seriously and has a strong social layer that lives up to its diverse spirit and vision.

The Solana community's Silly Dragon Meme appeared, representing the spirit and culture of the community, and then the SILLY token was born, becoming a new option for community members seeking a digital currency associated with Silly Dragon. The value of the BONK token given away by Saga mobile phone exceeds the selling price, which has promoted the meme season of the Solana community, and the price of SILLY has generally shown an upward trend since its release.

The fourth halving of Bitcoin is just around the corner, and the block reward is expected to drop from 6.25 BTC to 3.125 BTC on April 23, 2024. New innovations such as the Impervious browser, the Taro asset protocol, the OmniBOLT lightning token, etc., have significantly improved the expansion of Bitcoin in all dimensions, and it is expected that they will eventually lead to Bitcoin. The addition of ETFs, the Ordinals wave, and other variables is also driving the evolution within the Bitcoin ecosystem.

The Layer 2 network is actively developing, launching features such as Token List and Law of Chains, improving technology, supporting multiple languages, reducing gas costs, BNB Chain releasing the TVL incentive program, and ConsenSys reshaping its Layer 2 network ConsenSys zkEVM is Linea, Blast is a platform built specifically for NFTs, ZKFair is online on the testnet and mainnet, and ZKF tokens will be distributed by airdrop, and the claim will officially start at 11:00 on January 1, 2024.

Robin Linus has proposed a BitVM initiative to bring smart contracts to the Bitcoin blockchain. OP_NOTOP_BOOLANDTaproot Tree can etch the logic circuit into the Taproot script of a series of tree-like UTXO transactions to form a "contract-like" logic circuit that can handle certain computing tasks. Taproot Assets can achieve secure settlement, and Metatrust can provide guarantee for the safe implementation of the BitVM ecosystem.

3. Project Interpretation

There will be 10 noteworthy trends and projects in 2024, such as zk rollup, rollup middleware, interoperability, data availability, parallelized EVM, Bitcoin ecology, decentralized machine Xi, decentralized social, distributed validator technology, and Ethereum restaking, which will improve the scalability, security, and efficiency of blockchains, and change the direction of blockchain development.

Unibot announced that it will partner with Jupiter and Birdeye to launch a dedicated bot designed for Solana's high-speed on-chain transactions, KAVA token inflation will be permanently reduced to zero, and DODO will suspend the release of vDODO rewards at 13:00 to ease inflation and enhance long-term stability.

4. Investment and financing

HIVE Digital Technologies announces the successful closing of a C$5.00 buyout private placement of 5,000,000 special option options for a total proceeds of C$25,000,000. The underwriters elected to exercise an additional 15% special option, increasing the total proceeds to C$28,750,000. The financing will be used to scale up Bitcoin mining, working capital, and general corporate purposes. The underwriters receive a 6.0% cash commission and broker options equivalent to 6.0% of the total number of stock options. The underlying securities will be subject to a statutory restriction period of four months and one day.

BRC20.com宣布完成150万美元融资，Bitcoin Magazine母公司BTC Inc资产管理部门UTXO Management领投，Zanshin Capital Management、Unbroken Chain、OneBlock Capital、Sora Ventures、OWL Ventures、Bitcoin Frontier Fund、Hamble和New Tribe Capital等参投。 据悉，BRC20.com计划推出一款移动应用，允许用户用手机跨链、交易和质押BRC-20代币。

Cumulus Encrypted Storage System (CESS), a decentralized storage platform, raised about $8 million from more than 13 venture capital firms. HTX Ventures、Infinity Ventures Crypto、DWF Labs、Mentha Partners、Vespertine Capital、Web3 Foundation、Singchain Investment、7 O'Clock Capital、Solr DAO、FishDAO、OneBlock+、 Winkrypto and the Polkadot Ecological Research Institute participated. According to its filing, CESS is both a blockchain network and a decentralized storage system. It allows files to be stored on multiple nodes and identified by their hashes. The new funding will be used to "drive technological advancement, expand global business, and strengthen CESS's position in the decentralized infrastructure space."

Tonka Finance, an inscription asset lending platform, announced multiple rounds of fundraising through the ecological token TOKA in the form of Fair Launch, achieving its $2.5 million fundraising goal and over-raising. Tonka Finance will return the over-raised funds to the participants in the original way.