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1. Hot topics: Coinbase, Nillion, $LINK, MORPH 2. On-chain fund flows: 11m inflows to Ethereum, 23.8m outflows from Ethereum 3. Biggest rises and falls: $MASK, $LUCE 4. Top news: Meme trading tool ABOT announces it will gradually shut down its business

Featured News

1.Meme trading tool ABOT announced that it will gradually close its business

2.GRASS broke through 1.1 US dollars and the price of the currency hit a new high

3.Ethervista (VISTA) rose nearly 70% in 24 hours, approaching its historical high

4.Russia will lift the ban on Bitcoin mining tomorrow and plans to build mining and artificial intelligence facilities in BRICS countries

5.Jito has reached the limit of re-pledge deposits and will open more quotas in the second phase

Trending topics

Source: Overheard on CT (tg: @overheardonct), Kaito

COINBASE: Today, Coinbase became the focus of discussion due to its third-quarter earnings report. Although revenue was lower than expected, the company announced a $1 billion stock buyback and invested $25 million to support crypto-friendly policies. In addition, Coinbase has launched instant crypto deposits and withdrawals in cooperation with Visa to further promote the popularity of cryptocurrencies. Although the financial report performance has raised some questions, Coinbase's expansion of on-chain influence and political influence is still attracting attention.

NILLION: Nillion has attracted much attention due to its $25 million financing led by Hack VC, bringing the total financing to $50 million. The project focuses on "blind computing", supports data processing without disclosing the content of the data, and shows great potential at the intersection of blockchain and AI. The support of investors such as Hashkey highlights its transformative potential in industries such as AI, finance and healthcare.

$LINK： Chainlink released the Chainlink Runtime Environment (CRE) at SmartCon 2024. The platform upgrade realizes a modular and scalable architecture across thousands of chains, which is expected to transform Web3 application development. At the same time, new products such as CCIP v1.5 and the Cross-Chain Token (CCT) standard have also been highly praised, further consolidating its leadership in blockchain interoperability.

MORPH：Today, the launch of the MORPH mainnet was widely welcomed by the crypto community, marking the official launch of its consumer-oriented Ethereum Layer 2 solution, which adopts a decentralized sorting and hybrid verification system. The community is full of expectations for its potential large-scale application and believes that it will have a significant impact on the blockchain ecosystem.

Threads&Tweets

1.DEX trading volume hits a record high again, @richwgalvin

2.AI agent revolution: 2 trends you need to know, @Defi0xJeff

Featured articles

1.《The strategy of "issuing bonds to buy coins" has not changed, why did the MSTR premium suddenly soar? 》

BlockBeats

For the surge in MSTR, most people in the market still interpret it as "leveraged Bitcoin". However, this does not seem to explain why MSTR's premium suddenly soared when the fundamentals of "issuing bonds to buy coins" remained unchanged. After all, MicroStrategy has been buying coins for so many years, and has never seen such a high premium. In fact, in addition to "issuing bonds to buy coins", the recent surge in MSTR's premium is also due to MicroStrategy's other secret weapon, which not only has a huge impact on MSTR's fundamentals, but has even been called MicroStrategy's "unlimited money printing machine" by many analysts, making MSTR "more valuable the more it is sold."

2.《Talking about Ethereum's current "dilemma" from the perspective of the primary market: How to have more innovation and value capture? 》

Lao Bai, ABCDE Investment Research Partner

My only worry is whether ETH is content with the status quo, willing to let innovation and value capture happen in L2, and L1 itself can do DA and settlement with peace of mind (while facing competition from projects such as Celestia), and the coin price has been so calm. But I don't have an answer myself. It is an established fact that ETH L1 is currently weak in value capture for L2, and L1's GAS and TPS are indeed not enough to carry Mass Adoption type applications. The old Defi + possibly the new RWA track alone does not seem to be enough for everyone to see ETH rush to the peak of 10,000 US dollars. If in the next few years, BTC is 150,000-200,000, Solana is 500-1,000, and ETH is still hovering around 3,000-4,000, the confidence and status accumulated in the past 10 years will surely be slowly eroded.

3.《The Fat Wallet Thesis》

Delphi Digital

This article aims to accomplish three things. First, we will outline three structural trends that will continue to commoditize the protocol layer and the application layer respectively. Second, we will explore various ways that wallets can monetize their proximity to end users, including order payment flow (PFOF) and selling application distribution as a service (DaaS). Finally, we will explore why two alternative front-ends - Jupiter and Infinex - may eventually beat wallets in the competition for end users.