Review of this week｜Solana becomes the third largest public chain by market value; Ethereum Dencun upgrade is expected to run on the Goerli test network on January 17
BlockBeats will compile industry news highlights for the week of 12.18-12.24 in this article, and recommend in-depth articles to help readers better understand the market and industry trends.
Weekly News Recap
SOL's price has risen by over 100% in the past 30 days, making it the third largest public chain by market value; DePIN and meme projects have also seen significant gains
Solana has become one of the key words in the crypto market this week, with its token SOL rising all the way to over $110 this morning, with a gain of over 100% in the past 30 days. This week, SOL's total market value surpassed BNB for the first time, currently ranking fourth in the cryptocurrency market value rankings. In addition, multiple meme ecology projects have been launched on Solana, which has triggered market fomo sentiment. At the same time, this week's DePIN concept, such as Helium's Mobile, HONEY (Hivemapper), etc. Meme projects such as Silly, OMNI, Analysoor (which have already started to empower) have seen significant declines in the two days of SOL's sideways trading due to the lack of strong value support. Users should be aware of the risks when participating.
Meanwhile, the price of Solana is closely related to FTX's debt. FTX and Alameda previously transferred 13.22 million SOL (666 million US dollars) to the trading platform from October 24, 2023 to December 14, 2023. Currently, there may be 2 million SOL (192 million US dollars) available for sale at any time. In addition, a total of 40.5 million SOL (about 4 billion US dollars) will be linearly unlocked each month, most of which will be completed in 2025. After FTX's bankruptcy, SOL has accumulated a 550% increase, from $17.66 to $98, which means that potential profits for FTX's debtors exceed 3 billion US dollars. Related reading: "Detailed explanation of current popular DePIN projects: Honey, DIMO, and Helium (Mobile)", "Silly hits new highs, MEME surges on Solana and Avalanche", "Helium Mobile, which has risen tens of times, becomes the leader of DePIN with a return of 2 days per month and 28 days of income".
"Ethereum Killer" Strikes Back, Ethereum Value Theory Revisited
Recently, with the hotness of the Bitcoin ecosystem, many users have chosen to liquidate Ethereum and DeFi-related coins and instead hold BTC inscriptions. There is also a saying that "the butt decides the head", the more people get on the Solana train, the more bullish it will be. At the same time, the topic of Ethereum killers has been raised again. Many KOLs and OGs have expressed their opinions on these market changes. Related reading: "Will Ethereum's Spring Come When Everyone is Liquidating ETH and DeFi Coins?", ""Ethereum Killer" Strikes Back, An Article Summarizing Solana's "Call to Action" in the Community", "www.theblockbeats.info"
Binance New Coin Mining Fair Mode Launches the 41st Project, Using BNB, FDUSD, TUSD to Mine NFPrompt (NFP)
Binance New Coin Mining Fair Mode has launched its 41st project. Users can deposit BNB, FDUSD, and TUSD into the NFP mining pool on the Launchpad website after 08:00 on December 20th (GMT+8) to receive NFP rewards. NFP can be mined for a total of 7 days. Fair Mode is a new mode launched by Binance Launchpool. Tokens issued under this mode will have a significantly increased initial circulation (all Launchpool tokens will be released before listing), aiming to protect the community and retail investors and maximize user benefits. In addition, it will permanently block some allocations from entering circulation to further reduce inflationary pressure. For more details, please refer to the exploration of token economic models and development. According to Binance's announcement, NFPrompt (NFP) is an AI-driven user-generated content (UGC) platform for Web3 creators. Related reading: "What are the characteristics of Binance's latest Launchpool project NFPrompt?" and "Interpreting Binance Lauchpool's new mode: a change to the token economic system".
Injective's first NFT project INJS announces temporary halt to minting plan
This week, Injective's first NFT project INJS was scheduled to be minted. However, due to insufficient communication between INJS and Injective, the official Injective Twitter account advised users not to participate in the minting process. INJS subsequently announced a delay in minting. 24 hours later on December 20th, INJS announced a restart with a fairer minting process that would ensure smooth blockchain operation and prevent congestion. INJS tokens would be minted through multiple rounds, with each round lasting for 1,500 blocks. However, just after the first round of minting ended, the INJS team released a statement saying that "there were a large number of cases where bots were able to obtain INJS tokens through the fair distribution model on the Injective Chain, while genuine community members were unable to mint tokens. This is extremely unfair, so we have to stop the issuance of INJS." As a result, the minting plan for Injective's first NFT project INJS has been shelved.
Bounce is about to launch a new IDO, and two project teams will collaborate to release a single token
Bounce Launchpad has announced the launch of a token issuance strategy called "Two Birds, One Stone". This innovative strategy involves two different teams collaborating to release a single token, and the identities of these two projects are currently being kept confidential. This unique token issuance will utilize AUCTION and BitStable Finance (BSSB)'s stablecoin DAII for participation. The issuance process includes two different auction pools on Bounce Launchpad: one for AUCTION staking and the other for DAII staking.
UniSat will support ARC20 assets starting from December 26th and open trading on December 28th
On December 21st, the UniSat team announced the specific timeline for the listing of ARC20 assets. Due to the technical complexity and additional security considerations encountered during development, UniSat has decided to roll out Atomicals in stages, starting with support for ARC20 assets. UniSat Wallet will begin supporting ARC20 on December 26th, followed by the opening of ARC20 asset trading on UniSat Marketplace on December 28th, and finally UniSat Inscribe will provide services for ARC20 assets on December 30th. The UniSat team emphasizes that to ensure the security of user assets, please avoid sending non-ARC20 Atomicals assets to UniSat Wallet at this time. Other assets that fully support the Atomicals protocol will be gradually introduced in future updates.
Avalanche popular inscription AVNE suspected of "running away", casting account not yet opened and account has been frozen
On December 22nd, AVNE, the first rune token of the first rune protocol ANC20 in the AVAX ecosystem, announced that it would start minting. After the news was released, the community was highly enthusiastic, but on the day of minting, the project X platform account was suddenly frozen and the team lost contact. The reason is currently unknown.
ETHW Core Team Disbands, Existing Servers Will Temporarily Transfer to OneDao for Transitional Maintenance
On December 19th, Ethereum fork network EthereumPoW (ETHW) released a statement announcing the dissolution of its core development team. The statement pointed out that, based on achieving majority consensus, the decision was made to dissolve the core development organization. This includes dissolving the ETHW Core development team to achieve complete autonomy, adhering to Proof of Work (PoW) as the basic consensus of the chain, and committing to long-term maintenance, while embracing decentralized governance and becoming a public chain without central control. In addition, the ETHW statement also mentioned that existing servers will temporarily transfer to OneDao for transitional maintenance until a long-term ecological partner is determined.
Ethereum developers plan to run Dencun upgrade on Goerli test network on January 17th
On December 22nd, Ethereum developers are intensively testing the Dencun upgrade for next year. During a bi-weekly meeting, developers discussed their goals and plan to run Dencun on the Goerli test network on January 17th. This upgrade is expected to reduce the cost of the second layer Rollup and expand the blockchain by adding data "blobs". Developers are developing a testing schedule for the Dencun upgrade, planning to run it on the Sepolia test network on January 31st, on the Holesky test network on February 7th, and then deploy the changes to the main network by the end of February. They also remind that these dates may change due to the result of the test network fork.
Frame announces token airdrop is now open for application, mainnet and FRAME to launch simultaneously on January 31, 2024
On December 20th, Frame, an Ethereum L2 network, announced that users who have traded NFTs and paid royalties on the Ethereum network in the past two years are eligible to apply for the initial airdrop of FRAME tokens, which is now open for application. The mainnet and token of Frame will launch simultaneously on January 31, 2024, and the FRAME token will not be transferable until the next chapter begins. In addition, Frame announced the completion of its initial financing, with Electric Capital and community members leading the investment, and angel investors and advisors including dingaling, 9GAG CEO Chen Zhancheng, and Azuki project founder Zagabond.
Dmail airdrop and token distribution will take place in Q1 2024
On December 20th, Dmail Network, a multi-chain Web3 infrastructure, announced that "there have been many speculations around the native token and airdrop plan within the community. We can now confirm that the airdrop and token distribution will take place in the first quarter of 2024."
This Week's Popular Articles
一个月 2 天回本 28 天收益，涨超数十倍的 Helium Mobile 成 DePIN 龙头 Translation:
A month to recover the cost in 2 days, 28-day returns, and Helium Mobile, which has risen by tens of times, becomes the DePIN leaderOn December 18th, $MOBILE became one of the most discussed tokens in the cryptocurrency industry community. $MOBILE, issued by the project Helium, which was once known as a "star public chain", has been in circulation for a year and a half. With the empowerment of Solana and the narrative stacking of DePIN, $MOBILE has achieved great success, while Helium has finally seen the dawn of successful transformation with the help of the Solana ecosystem and $MOBILE.
Detailed explanation of the current popular DePIN projects: Honey, DIMO, and Helium (Mobile)
DePin is the abbreviation for a centralized physical infrastructure network. At the end of 21, IOTEX referred to this track as MachineFi. By the end of 2022, Messari introduced the new concept of DePIN, considering it as one of the most critical investment tracks in the crypto industry for the next decade. The core concept of DePin is to incentivize users to deploy hardware devices using tokens to provide real-world goods and services or digital resources.
Messari 2024 Investment Forecast: Bearish on ETH, Bullish on AI, DePIN, and DeSci
In this year's investment trend forecast, Messari expressed a strong optimism towards Bitcoin, while being bearish on Ethereum and considering the "sound money" narrative (referring to sustained inflation leading to sustained growth) as baseless. Compared to Solana, Ethereum does not have overwhelming advantages. In addition, Messari is bullish on the combination of AI and cryptocurrency. Based on the disclosed analyst positions, many people hold tokens such as AKT and TAO, and Messari is also optimistic about the emerging narratives of DePIN, DeSoc, and DeSci.
除了暴涨的 AUCTION，市场上还有哪些值得关注的「金铲子」？
Translation:
In 2020, benefiting from the innovative promotion of DeFi Summer, a group of CEX successively launched "new coin mining" function. Compared with spot trading, the cycle of listing new coins is shorter and the investment return rate is more amazing. Therefore, platform coins were once known as the "golden shovel" for obtaining new assets. Currently, Mingwen has successfully entered the secondary market from the primary market, and further thinking is how to use the market heat of Mingwen to continuously empower the Bitcoin ecological financial infrastructure. BlockBeats has sorted out a new batch of "golden shovels" in the current market, especially the continuous injection of capital leverage into the Bitcoin ecology.
Essential Knowledge and Tools for On-Chain Dogecoin Transactions
Most of the "local dog" projects in the cryptocurrency industry are short-lived, with a lifespan of 1-3 days. Only a few of them can achieve a hundredfold or even thousandfold increase in value and become "golden dogs" by being listed on major exchanges. Nevertheless, there are still many people who can profit a hundredfold from these "local dog" projects every year, indicating that success in this field requires expertise. Investing in "local dogs" is essentially a game of probability.
Solana has new NFTs, what is Solmap that the community is talking about?
On December 21st, the NFT trading platform Magic Eden saw the appearance of an NFT series called "Open Solmap" on its 24-hour trading chart. As of the time of writing, the floor price of Open Solmap has reached 0.77 SOL, with over 230k land plots and more than 17,780 holders.
都在清仓 ETH 和 DeFi 币，以太坊的春天还会到来吗？
Translation:
Are ETH and DeFi coins being cleared out, will Ethereum's spring still come?
Recently, with the hot trend of the Bitcoin ecosystem, many users have chosen to liquidate Ethereum and DeFi-related coins and instead hold BTC inscription. Regarding this phenomenon, cryptocurrency blogger BITWU.ETH expressed his opinion on X. BITWU.ETH: "This morning, I casually scrolled through Twitter and saw at least three friends say they temporarily liquidated Ethereum and DeFi coins. What signal is this? The market often goes in the opposite direction. I believe that the stronger this sentiment becomes, the closer we may be to buying Ethereum."
A Look at 5 Bitcoin Layer2 Projects Worth Paying Attention To
Previously, Jademont, the founder of Waterdrip Capital, stated that there will be at least 10 Bitcoin Layer 2 networks launched next year, which will greatly promote the development of Bitcoin's ecological infrastructure in terms of traffic. Recently, Adam Back, the CEO of Bitcoin technology company Blockstream, publicly stated that the high fees brought by inscription transactions have promoted the adoption and innovation of Bitcoin Layer 2. He believes that "trying to stop (inscription), they will do it in a worse way." This statement from the Bitcoin OG has also led many crypto users to believe in the narrative of Bitcoin Layer 2.
Interpretation of Binance Launchpool's new model: a revolution in token economic systems
On December 19th, Binance's new coin mining Fair Mode launched its 41st project. Fair Mode is a new mode launched by Binance Launchpool. The tokens issued under this mode will have a significantly increased initial circulation, aiming to protect the community and individual investors and maximize user benefits. In addition, it will permanently prevent some allocations from entering circulation to further reduce inflationary pressure. In response to this, KOL in the cryptocurrency field, Riiver, published his own analysis and interpretation on X.
多条公链直接被「打崩」，铭文狂欢还能维持多久？
Multiple public chains are directly "crashed", how long can the Mingwen carnival last?
Modular blockchain Celestia has launched its first inscription project CIAS, but the community has discovered the possibility of CIAS project code plagiarizing COSS inscription code. After CIAS officially opened mint, it received over 120,000 visits from more than 1 million people within an hour. Subsequently, its team announced that RPC had encountered a fault and announced the suspension of mint. We do not know whether CIAS is an official inscription project launched by Celestia, but from CIAS, we can see that various public chains are also taking action on inscriptions.
How can Ethereum's Layer2 solutions compete with Solana?
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