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Rhythm Morning Post｜Ethereum Dencun upgrade will be activated on the Holesky test network; Multicoin Capital participates in Glif’s US$4.5 million financing

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GM! A list of important information in the encryption industry last night and this morning on February 7th

Selected News:

1. Ethereum Dencun upgrade is about to be activated on the Holesky testnet.

2. Solana network has re-blocked.

3. Starknet v0.13.1 is about to be released, and transaction costs will be significantly reduced.

4. DCG opposes the bankruptcy plan of its subsidiary Genesis.

5. Filecoin ecosystem liquidity staking platform Glif has completed a $4.5 million financing round, with participation from Multicoin Capital and others.

Price Observation

GTC short-term rise more than 15%, currently reported at $1.264

On February 7th, influenced by the news that Bithumb will list Gitcoin (GTC), GTC surged more than 15% in the short term, currently trading at $1.264.

Transaction Tracking

MicroStrategy increased its holdings by 850 bitcoins in January, and as of February 5th, its holdings have increased to 190,000 bitcoins.

On February 7th, MicroStrategy (MSTR.O) announced that as of February 5th, 2024, the company holds 190,000 bitcoins at a total cost of $5.93 billion, with a cost per bitcoin of $31,224. The company also stated that in January of this year, it spent $37.2 million to acquire an additional 850 bitcoins. Since the end of Q3 2020, the company has purchased an additional 31,755 bitcoins, making it the largest quarterly increase in the past three years and the 13th consecutive quarter of bitcoin accumulation on its balance sheet.

Grayscale transferred 1767 BTC to Coinbase Prime

On February 6th, according to Arkham data, Grayscale's associated address transferred 1767 BTC to the Coinbase Prime Deposit address at 22:08 on February 6th, worth approximately $75.78 million. Additionally, 899.9 BTC was transferred to a new address, which is suspected to be Grayscale's new custody address.

Binance Labs deposited 750,000 PERP to Binance at an average price of $1.05

On February 6th, according to Spot On Chain monitoring, Binance Labs deposited 750,000 PERP tokens (approximately $784,000) into Binance at a price of $1.05 about 50 minutes ago. Binance Labs is an investor in Perpetual Protocol and has not transferred PERP tokens for two years. Currently, its address still holds 3 million PERP tokens (approximately $3.14 million).

Project Updates

Bithumb will list Gitcoin (GTC)

On February 7th, Bithumb will list Gitcoin (GTC).

Aave's stablecoin GHO resumes anchoring

On February 7th, Stani Kulechov, the founder of Aave, announced that after 6 months, the stablecoin GHO with over-collateralization has achieved anchoring. For the Aave community, this has been a long journey. Previously, on January 25th, Aave DAO approved two changes related to its stablecoin GHO, aimed at improving its own product anchoring stability and supporting a wider Ethereum ecosystem.

The Ethereum Dencun upgrade is about to be activated on the Holesky testnet.

On February 7th, the Ethereum Dencun upgrade is about to be activated on the Holesky testnet, less than 12 hours from now. This is the final testnet fork before the mainnet, and the mainnet date should be confirmed at tomorrow's AllCoreDevs conference call (all signs point to early to mid-March). EIP-4844 is coming soon.

Stablecoin and lending protocol HAI will airdrop governance token KITE on February 12th.

On February 7th, Reflexer Finance's stablecoin protocol HAI will conduct an airdrop before its launch on the Optimism mainnet next week. HAI will distribute 22.3% of its governance token KITE to 18,034 eligible wallets. The airdrop will take place on February 12th, and HAI will launch on the Optimism mainnet on February 20th. Eligible users include Reflexer Protocol users, individuals who have used the HAI testnet, and Optimism governance participants who hold more than 50 OP tokens and have voted multiple times.

除稳定币协议之外，HAI 还是借贷平台和 DAO。KITE 持有者可以决定平台上包含哪些抵押品类型、更改协议参数并参与拍卖。

Translation: Apart from stablecoin protocols, HAI also functions as a lending platform and DAO. KITE holders have the power to decide which types of collateral are included on the platform, modify protocol parameters, and participate in auctions.

Puffer added 5 community multi-signature members, including Bankless co-founders

On February 7th, Puffer Finance announced that its development has been guided and supported by industry leaders and friends. It is now announced that Ethereum Foundation researcher Justin Drake, Bankless co-founder David Hoffman, staking community leader Ladislaus, The Daily Gwei founder Anthony Sasson, and ETH Chinese site domothy have joined the Puffer community's multi-signature. The operation of the multi-signature has a 7-day time lock, allowing the community multi-signature to veto any contract upgrades by the team. User assets are safest under the guidance of some of the most suitable members.

Farcaster Degen Collection NFT minting completed

On February 7th, according to on-chain data, the Farcaster Degen Collection (FDC) NFT minting has been completed with over 20,000 users participating in the Premint. Only the top 5000 users who meet certain criteria are eligible for minting. The top 10 users include Jesse Pollak, founder of Base Chain, senior developer David Furlong and limone.eth, and Toady Hawk, founder of The Nounsquare.

CeFi Information

DCG opposes bankruptcy plan of its subsidiary Genesis

On February 6th, according to Reuters, Digital Currency Group (DCG) opposed the bankruptcy plan of its subsidiary Genesis Global Capital, stating that Genesis proposed to pay its customers more than their legal rights. DCG believes that the amount paid by Genesis to its customers and creditors should not exceed the value of the cryptocurrency at the time of bankruptcy filing in January 2023. DCG stated that Genesis' proposal to provide additional expenses to its customers to address the issue of rising prices of assets such as Bitcoin and Ethereum violates US bankruptcy law.

DWF Labs launched PoS nodes on Conflux network

On February 6th, DWF Labs launched Proof of Stake (PoS) nodes on the Conflux network to further solidify its belief and support in the project's long-term value in BTC asset innovation. By committing resources to stake and operate specialized institutional PoS nodes, DWF Labs is contributing to the security, stability, and sustainable ecosystem growth of the network.

DWF Labs has launched a PoS node that will support Conflux's mission to innovate within the Bitcoin ecosystem, particularly with the upcoming BTC Layer 2 (L2) solution. Conflux's PoS consensus method combines key sharing based on verifiable secret sharing (VSS) to ensure decentralized management of Bitcoin assets.

Viewpoint Data

GBTC 18th trading day outflow of $73 million

On February 7th, according to BitMEX Research data, on the 18th trading day of the spot Bitcoin ETF (as of February 6th), GBTC had a fund outflow of $73 million. Since January 11th, 2024, the total outflow of GBTC has been $6.149 billion, with 147,792 BTC outflowed.

预计美联储将获得信心以在今年晚些时候进行降息 Translation:

It is expected that the Federal Reserve will gain confidence to cut interest rates later this year

On February 7th, Mester of the Federal Reserve stated that it is expected that the Federal Reserve will gain confidence to cut interest rates later this year. When the Federal Reserve cuts interest rates, it may take gradual steps.

"Mujiejie": The approval of the spot Bitcoin ETF means that the trend of "BTC replacing gold" is still continuing.

On February 7th, Cathie Wood, CEO of asset investment management company ARK Invest, also known as "Wood Sister", stated that Bitcoin is replacing gold, and the emergence of spot Bitcoin exchange-traded funds (ETFs) proves that this trend is continuing. The impact of the first spot Bitcoin ETF is similar to that of the first gold ETF, and data shows that since the first gold ETF was launched in November 2004, the price of spot gold has soared by more than 250% in seven years.

BitDeer produced 330 bitcoins in January, a 123% increase from the same period last year.

On February 7th, BitDeer released its January operating data. The company produced 330 bitcoins that month, a 123% increase from the same period last year. It is expected to begin land preparation work for a 221 MW data center in Ohio, USA in February, which is expected to be completed by 2025. In addition, BitDeer will continue to advance the construction of the 175 MW submerged cooling data center at the Tydal mining facility in Norway, which is expected to be completed by mid-2025. The company plans to launch a high-performance cloud service platform based on SuperPOD in the first quarter of 2024.

US Treasury Secretary Yellen: Welcome Congress' efforts to create regulatory framework to address stablecoins' risks to the financial systemOn February 7th, US Treasury Secretary Yellen stated that the gaps in digital asset regulation have been identified and that congressional action will be helpful. Congress is encouraged to create a regulatory framework to address the risks that stablecoins pose to the financial system. The Financial Stability Oversight Council has not yet taken action to designate specific non-bank institutions as systemically important.

Financing Express

Bitcoin infrastructure Omega completes $6 million financing, with participation from Bankless Ventures and others

On February 7th, Omega, a Bitcoin ecosystem infrastructure, announced the completion of a $6 million financing round. The round was participated by Lightspeed Faction, Bankless Ventures, Wave Digital, and others. The new funds will be used to help launch Omega's Bitcoin Web3 infrastructure, which is the first decentralized solution that allows Bitcoin holders to generate income using the value of their layer 1 BTC without bridging, wrapping, or synthesizing, thus allowing native Bitcoin to be used for DeFi.

A small payment startup company Code has completed a $6.5 million seed round of financing, led by M13 and USV

On February 7th, according to Axios, Code, a startup company specializing in small payments, completed a $6.5 million seed round of financing, led by M13 and Union Square Ventures (USV). Code has launched an application to facilitate small online payments. The code is based on the Kin (KIN) cryptocurrency, which is valued at one-thousandth of a penny, and is designed to make it easy to spend small amounts of money. In addition, the team has released a developer platform and is about to launch a new blogging tool that allows anyone to earn rewards through writing.

Filecoin ecological liquidity pledging platform Glif completes $4.5 million financing, with participation from Multicoin Capital and others

On February 6th, according to CoinDesk, Filecoin's ecological liquidity pledge platform Glif completed a $4.5 million financing round, with participation from Multicoin Capital and others. This funding will help Glif expand its "liquidity leasing" facility, which centers around the revenue-generating liquidity pledge token iFIL. It also lays the foundation for an upcoming points program, which will reward Glif users based on the accumulated value of their iFIL tokens, with the points potentially implying a potential token airdrop.

Bitcoin trading platform LN Markets completes seed round financing, with participation from Lemniscap and othersOn February 6th, the Bitcoin trading platform LN Markets completed its seed round of financing, with the specific amount yet to be disclosed. This round of financing was participated by Lemniscap and others. LN Markets also jointly launched the over-the-counter derivative trading platform DLCMarkets with Lemniscap, targeting financial institutions. By utilizing Discreet Log Contract (DLC), DLC Markets provides a timely alternative to centralized clearing in the financial industry.

Hedera and Saudi Investment Department sign a $250 million cooperation agreement to develop technology solutions for local companies

On February 6th, the open-source equity proof blockchain Hedera announced a five-year partnership agreement worth $250 million with the Saudi Ministry of Investment. As part of the partnership agreement, the Hashgraph Association launched the DeepTech Venture Studio to develop technology solutions for local Saudi companies, including artificial intelligence and blockchain.