headlines
Starknet: StarkGate 2.0 has been launched on the mainnet
According to official news, Starknet announced that the StarkGate 2.0 mainnet has been launched and now supports functions such as one-click withdrawal, withdrawal limit, and fast withdrawal. In addition, it also provides license-free bridging and smart deposit services.
SP: Spot Ethereum ETF may increase concentration risk in Ethereum
U.S. approval of proposed ethereum exchange-traded funds that plan to incorporate staking could increase concentration risks for ethereum, according to analysis by SP Global Ratings.
SP analysts Andrew ONeill and Alexandre Birry said in a report released on Tuesday: US spot Ethereum ETFs that incorporate staking may become large enough to change the concentration of validators in the Ethereum network, regardless of whether For better or worse. Therefore, it is critical to understand how the choices of ETF issuers drive concentration risk.
Analysts predict that the U.S. Securities and Exchange Commission will approve a spot Ethereum ETF as early as May this year — the first deadline to approve such a fund. Several companies, including giants like BlackRock and Fidelity, have filed for spot Ethereum ETFs. Some of these applicants, notably Ark Invest and Franklin Templeton, also aim to generate additional revenue by staking the underlying Ethereum.
Polygon partners with StarkWare to launch major ZK technology upgrade Circle STARK
Polygon and StarkWare have joined forces to launch Circle STARKs, a major technological upgrade to current zero-knowledge proofs (ZK).
Industry news
Fed meeting minutes showed that Fed officials said demand may be stronger than (previously) assessed and policy rates may have reached their peak this cycle. Most officials noted the risks of cutting interest rates too quickly. Some officials see a risk that inflation progress could stall.
DCG opposes subsidiary Genesis proposed settlement with New York Attorney Generals Office
Digital Currency Group (DCG) opposes a proposed settlement between subsidiary Genesis and the New York Attorney Generals Office. Genesis Global reached an agreement with the attorney generals office earlier this month to resolve allegations that it defrauded investors, but parent company DCG claimed it was not an appropriate settlement.
DCG argued in objections filed in the U.S. Bankruptcy Court for the Southern District of New York that Genesis cannot violate absolute priority by taking value from junior creditors and reallocating it to senior creditors under the guise of a settlement .”
Jason Brown, a former co-chief deputy in the Attorney Generals Office and a former senior federal prosecutor in New York, supported DCGs opposition, claiming in court filings that details of the settlement may not have been handled properly.
Project News
MATIC completes the token unlocking and transfer and enters full circulation status
According to monitoring by on-chain analyst Ember, 273 million MATIC (approximately US$253 million) were transferred from the Matic vesting contract to the Matic Foundation address 11 hours ago. This is the last token unlock transfer of Matic, and since then MATIC has entered full circulation.
Rekt Fencer: Lava Network will airdrop to testnet users in Q1 2024
Encryption research institute Rekt Fencer posted on the X platform that modular blockchain infrastructure developer Lava Network has confirmed that it will airdrop LAVA tokens to testnet users in the first quarter of 2024.
ETF related
According to SoSoValue data, yesterday (February 21, Eastern Time), the total net outflow of Bitcoin spot ETFs was US$35.66 million. After 17 trading days of net inflows, today is the first time that Bitcoin spot ETFs have appeared since January 25. Net outflow in a single day. Yesterday, Grayscale ETF GBTC had a single-day net outflow of US$199 million. The Bitcoin spot ETF with the largest single-day net inflow yesterday was BlackRock ETF IBIT, with a single-day net inflow of US$96.52 million. The net inflow has continued to decrease for 4 consecutive trading days. The current total historical net inflow of IBIT has reached 56.2 One hundred million U.S. dollars. Followed by Fidelity ETF FBTC, with a single-day net inflow of approximately US$71.74 million, and the current total historical net inflow of FBTC reaches US$3.9 billion. As of press time, the total net asset value of Bitcoin spot ETFs is US$37.13 billion, the ETF net asset ratio (market value as a proportion of Bitcoins total market value) reaches 3.71%, and the historical cumulative net inflow has reached US$5.14 billion.
Character*Voice
Vitalik Buterin posted on the The trade-off between bug risk needs to be reconsidered. If L1 has a consensus failure, although the core developers may have a busy day to fix it, eventually the system can return to normal. In contrast, when L2 fails, users may face permanent A large amount of money is lost. Therefore, it is worthwhile to add some complexity to L1 to reduce the code burden of L2 and make it relatively simple.”
Arthur Hayes, co-founder of BitMEX, wrote that the importance of narrative in the encryption market often exceeds the technology itself, because investors usually rely on the evaluation of others and the spread of the story to make investment decisions.
Arthur Hayes said that as the chief investment officer of Maelstrom, he is actually more like the chief narrative officer. His job is to tell and spread stories that can arouse widespread discussion in order to achieve success in the encryption market. The better and more concise the story, the faster it will spread. The more widely a story spreads, the value of the tokens associated with that story will grow.
In addition, Arthur Hayes said that the U.S. Bitcoin spot ETF and the expected launch of the Ethereum spot ETF will push up the prices of these two assets. He already holds Bitcoin and Ethereum and may buy more, but overall Attention is shifting to altcoins.
Projects he plans to talk about in detail in the coming months include: dYdX, GMX, Pendle, Krav, Elixir, Flare, Ethena and Axelar.
