The OKEx Intelligence Bureau Industry Weekly Report will take you to quickly review industry trends and clarify industry trends.

Table of contents:

• Market overview

• cryptocurrency market

• Polkadot ecology

• Market overview

• industry voice

Market overview

cryptocurrency market

industry voice

1. Cryptocurrency market

Market overview

According to CoinGecko data, as of 15:00 on October 16, 2020, the total market capitalization of the cryptocurrency market was US$362 billion. The market panic and greed index is 52, and the level is neutral; the USDT premium rate is -0.237105%, and the average OTC price is ¥6.69.

According to OKEx spot, as of 15:00 on October 16, BTC was temporarily quoted at $11,328, and OKB was temporarily quoted at $5.11. The long-to-short position ratio of the OKEx BTC contract is 0.83, and the short side is dominant in the market; the total contract position is 858 million USDT.

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1. Cryptocurrency market

1. The Filecoin mainnet was launched, and the price of FIL tokens rose sharply

According to data from the Filscout website, on the evening of October 15th, Beijing time, Filecoin reached the block height of 148888, and the mainnet has been officially launched. Subsequently, Filecoin officially issued a document stating that the Filecoin main network has been officially launched, and so far, the network is running stably. To ensure that the network is functioning properly, the Filecoin network has now entered a post-launch monitoring period. As of 11:00 on the 16th, the non-small market shows that the price of FIL tokens is 66 US dollars.

[Interpretation] For Filecoin investors, this is a grand event that has been waiting for two years. The launch of the Filecoin mainnet will indeed bring a lot of benefits to the entire Filecoin ecosystem. But it also faces some problems and challenges. For example, many miners and miners are currently in dispute and dissatisfaction with the official rules formulated by Filecoin, and the legal supervision issues that Filecoin will face afterward.

2. The creation of the Ethereum 2.0 beacon chain is expected to be realized within six weeks

According to news from dailyhodl on October 15, Danny Ryan, the head of the Ethereum 2.0 project, said at the launch of the test network Zinken that the current goal of Ethereum 2.0 is to launch in 2020. Previously, on October 13, ConsenSys researcher and Ethereum 2.0 developer Ben Edgington revealed that Ethereum plans to conduct another Zinken testnet test in mid-October, and the deposit contract will be deployed within a few days, with the goal of achieving it within six weeks. Beacon chain genesis.

[Interpretation] The Ethereum single-client test network Sapphire, Topaz and Onyx networks have been tested for a long time, and the Medalla test network launched in August currently has more than 50,000 validators participating. The ETH2.0 testnet Zinken has been launched and is performing well. According to beaconcha.in data, as of October 13, more than 136,000 simulated ETH or GöETH have been put on the test network, and the number of valid validators has reached 4,269.

3. The Taproot/Schnorr upgrade proposal has been officially implemented on Bitcoin Core

On October 15, according to the code submitted by Bitcoin core developer Pieter Wuille on GitHub, the Taproot/Schnorr soft fork upgrade proposal (BIP340-342) was officially implemented on Bitcoin Core on the morning of October 15. After the proposal is activated, it will bring better transaction capabilities to Bitcoin while increasing the privacy features of the network.

[Interpretation] Taproot/Schnorr is a long-awaited technical upgrade proposal. In January 2018, Bitcoin Core developer Greg Maxwell first proposed Taproot, and in May 2019, another Bitcoin Core developer, Pieter Wuille, officially set it up as a soft fork bundled with Schnorr. This scheme can make all transactions indistinguishable to the eyes of ordinary users, which is expected to bring much-needed privacy protection features to the Bitcoin protocol.

[Interpretation] The prosperity of ERC-20 represents the value creation ability of Ethereum.

2. Polkadot Ecology

5. The price of Ethereum Gas is the lowest value in the past 3 months, down 93% from the highest point

On October 12, Blockchair data showed that the median Gas price of the Ethereum network yesterday reached the lowest value of about 36 Gwei in the past three months, which has dropped by 93% compared to the historical high value. Historically, the single-day median of the Ethereum network Gas price was the highest on September 17 this year, about 545 Gwei, when Uniswap released the governance token UNI.

[Interpretation] The current DeFi is on the other side of the parabola. The frequency of ETH usage has decreased, and the handling fee will naturally decrease.

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2. Polkadot Ecology

1. Interlay will launch Polkadot's first Bitcoin-anchored currency "PolkaBTC" in early 2021

On October 15, according to Polkadot’s official news, Interlay will launch Polkadot’s first trustless Bitcoin-anchored currency, PolkaBTC, in early 2021. This is also an important step for Polkadot to become a truly interoperable blockchain ecosystem. . Interlay has previously published detailed technical specifications and a working PoC implementation. After the success of the pilot project, it is planning to complete the BTC Parachain in the first quarter of 2021 through the follow-up funding of the Web3 Foundation. The first Alpha testnet is scheduled for November 2020, with a feature-ready Beta in January 2021.

[Interpretation] Interlay is an interoperability project funded by the Web3 Foundation. On June 22, 2020, it launched a trustless bridge from Bitcoin to Polkadot - "BTC Parallel Chain", allowing users to Mint 1:1 Bitcoin-backed assets on PolkaBTC. PolkaBTC can be widely used in Polkadot's decentralized finance, including decentralized exchanges, stablecoins, and lending protocols.

2. Vice President of Parity: In the next 2 to 5 years, the blockchain market will create DeFi products with higher value

On October 12, at the Crypto Tonight event, Fabian Gompf, vice president of Polkadot development company Parity, said that the blockchain market has experienced many short-lived products, but the trend in the next 2 to 5 years will revolve around decentralized financial infrastructure, Create DeFi products that are truly highly available, safe and able to carry more value.

[Interpretation] At present, there are many categories of Polkadot ecological projects, such as Token, Pallet, Oracle, NFT, DAO, Bridge, Data, Privacy, Smart Contracts, Exchange, Scali, etc. This is clearly the new world of DeFi.

[Interpretation] One of the most notable features of the Polkadot network is the ability to perform "upgrades on the chain", which ensures accelerated iterative updates of applications within the network.

3. DeFi dynamics

4. Polkadot core developers released a new testnet for Wasm smart contracts

On the evening of October 15th, Polkadot officially tweeted that Polkadot core developer Robin Freyler has released a new Canvas UI, testnet and interface for the Wasm smart contract.

[Interpretation] The Wasm smart contract is also one of the ultimate goals of the ETH2.0 network, but it will take two to three years to fully implement it. At present, this function has entered a new testnet stage on Polkadot, and progress is rapid.

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3. DeFi dynamics

1. OKLink: Uniswap's total lock-up volume exceeds 3 billion US dollars

According to data from KLink on October 16, as of 11:30 today, the current total lock-up volume of DeFi protocols on Ethereum is about 13.04 billion US dollars. Among them, the top three are Uniswap V2 with USD 3.06 billion, up 1.61% month-on-month; Maker with USD 2 billion, up 0.29% month-on-month; and Curve, USD 1.28 billion, down 3.38% month-on-month.

[Interpretation] Billions of assets are locked in DeFi, which reflects the strong "value capture" ability of decentralized finance.

2. Survey: More than 70% of the respondents believe that the trading volume of DEX will not exceed that of centralized exchanges within two years

According to news from Cointelegraph on October 16, a recent survey by CryptoCompare showed that despite the growing trading volume and activity in the DeFi field, centralized exchange operators did not regard the emergence of decentralized trading platforms (DEX) such as Uniswap as a major concern. as a threat. CryptoCompare is said to have asked 26 leading exchanges about the “likelihood of DEX liquidity surpassing centralized exchanges within two years.” More than 70% of respondents said that due to the lack of liquidity, the trading volume of decentralized exchanges will not exceed that of centralized exchanges, and only 7.7% of respondents think this is a possible event, while 19.2% people remain neutral.

[Interpretation] In the field of blockchain, DEX and CEX are actually complementary. DEX is efficient, compliant, healthy, and rich, while CEX is safe and secure, with strong development momentum. Investors can choose different types of platforms according to their personal demands.

[Interpretation] BTC and ETH are equivalent to the hard currency of the DeFi ecosystem. The larger the proportion, the healthier the development of DeFi. The proportion of 44% is a very healthy data.

4. Industry voice

4. Data: Ethereum Miner Revenue Has Tripled Since March

According to cryptobriefing news, data shows that since the Bitcoin block reward was halved in May, the income of Bitcoin miners has dropped by 30%. And since March, ethereum miners have tripled their revenues as the DeFi boom pushed transaction fees to new highs. By the end of the year, total annual mining revenue for Bitcoin and Ethereum will reach $4.6 billion and $2.2 billion, respectively.

[Interpretation] All this is due to the huge traffic injected into the Ethereum network after the popularity of DeFi. This is a rigid demand.

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4. Industry voice

1. Co-founder of BitGo: Grayscale and others bought more BTC in Q3 than newly mined, and the price may rise

On October 16, BitGo co-founder Ben Davenport said on Twitter that 84,000 BTCs were mined in Q3, but the purchases of CashApp, Square and Microstrategy alone accounted for 169% of that figure. 70% of the data. Given the lack of volatility in the price, it feels like there is one big seller in the market and when it sells out the price will skyrocket.

[Interpretation] According to the digital asset investment report released by Grayscale on October 14, it received a total investment of US$1.05 billion in the third quarter, and the average weekly investment of Grayscale Bitcoin Fund was US$55.3 million. This year, in addition to the eye-catching Grayscale institutions, listed companies on Wall Street have also bought a large number of BTC. According to the latest data from BitcoinTreasuries.org, as of now, there are 15 listed companies or publicly traded products holding Bitcoin. More than 601,400 bitcoins. Whether it is an institution or a listed company, the deployment of Bitcoin is a multi-dimensional benefit to the market.

2. Morgan Creek founder: Cryptocurrency will eventually push the world into a bankless society

On October 15, according to Cointelegraph, Morgan Creek Capital (Morgan Creek Capital) founder Mark Yusko said that a "silent revolution" driven by cryptocurrencies such as Bitcoin will eventually lead to the world entering a bankless society. But he also explained that it's not like banks will disappear entirely. People still need banks to process loans, digital currencies or digital fiat currencies with crypto at their core. But people are moving towards a world without borders globally, where nation-states will become less important and global systems will become more important, where people can be citizens of the world rather than of a single nation-state.

[Interpretation] A "silent revolution" driven by cryptocurrencies such as Bitcoin will eventually lead the world to enter a bankless society.

3. Director of Loopring Business Development: The current level of competition in the field of Ethereum L2 exceeds that of L1