Author | Qin Xiaofeng
Editor | Hao Fangzhou
Produced | Odaily
1. Overall overview
Author | Qin Xiaofeng
Editor | Hao Fangzhou
Produced | Odaily
On September 6, data on the chain showed that the Bellatrix upgrade had been activated on the beacon chain Epoch 144896. According to the Ethereum Foundation blog, the merger of Ethereum is activated in two stages. The first stage, named Bellatrix, is carried out at Epoch 144896 on the beacon chain; the second stage, named Paris, reaches TTD on the execution layer. Merge is triggered at 58750000000000000000000.
Second, the secondary market
1. Spot market
In terms of the secondary market, the current ETH price may continue to consolidate in the short term, with support at $1,750 and resistance at $1,800 and $2,000.
(ETH daily chart, picture from OKX)
Second, the secondary market
According to OKX market data, the price of ETH once fell below $1,500 last week, and then rebounded to above $1,700, closing at $1,768 during the week, a month-on-month increase of 13.3%.
OKlink dataimage description
The daily chart shows that the price is currently consolidating at $1,750, and may step back on the 5-day moving average of $1,750 in the short term; the upper resistance levels are $1,800 and $2,000, which are previous highs and have strong resistance.
OKlink dataIt shows that the number of on-chain transfers rose slightly last week, with above 1000 ETH, above 2000 ETH and above 5000 ETH rising by 10%, 13.8% and 3.3% month-on-month, respectively. The trading enthusiasm of giant whales rose slightly.
3. Ecology and technology
1. Technological progress
OKlink data
It shows that the total amount of pledged ETH in the entire network is 13,522,095 ETH, an increase of 115,679 ETH from last week; from the perspective of the distribution of holding addresses, exchanges accounted for 11.05%, a decrease of 0.01% from the previous month; DeFi projects accounted for 16.11%, a decrease of 0.21% from the previous month %; large addresses (the top 1,000 addresses and excluding exchanges and DeFi projects) accounted for 39.12%, up 0.14% month-on-month; other addresses accounted for 33.74%, down 0.08% month-on-month.
3. Ecology and technology
On September 6, data on the chain showed that the Bellatrix upgrade had been activated on the beacon chain Epoch 144896. According to the Ethereum Foundation blog, the merger of Ethereum is activated in two stages. The first stage, named Bellatrix, is carried out at Epoch 144896 on the beacon chain; the second stage, named Paris, reaches TTD on the execution layer. Merge is triggered at 58750000000000000000000.
2. Voice of the Community
According to several core developers of the Ethereum network, the spike in block leakage rate can be traced back to operators who have not yet performed client software upgrades. Nodes that have not yet updated will cause block leakage. The more leaky blocks on the proof-of-stake blockchain will be triggered. According to Van Der Wijden, the 9% of blocks missed this morning can be attributed to a combination of nodes missing updated software (5%) and nodes that were partially updated but not connected to the execution layer (4%). (Decrypt)
(2) The last shadow fork before the merger of the Ethereum mainnet has been completed
2. Voice of the Community
3. Project trends
Analysis: Merged Ethereum’s staking yield will be lower than expected
The merger of Ethereum is about to happen, and one of the discussions is around the expected return of Ethereum once it switches to PoS. The expected return of 12% may be overestimated. This data is mainly based on historical data that has undergone huge changes in the past year, such as staking The amount of ETH, and according to the current network usage and pledge data, the pledge yield of Ethereum after the merger will be lower than expected.
Selini Capital SIO Jordi Alexander released his forecast for Ethereum staking Annualized Yield (APY) in 2023 based on current data. He expects that by 2023, Ethereum validators will earn about 3.2% APY, which includes block rewards, MEV, and transaction tips. (The Block)
3. Project trends
The all-currency blockchain browser Tokenview.io officially launched the ETH 2.0 Beacon Chain (Beacon Chain) browser. The browser beacon.tokenview.io supports verifier information, block list, epoch, and ETH2 deposits data query. The Beacon Chain will introduce PoS and validators in Ethereum and will eventually merge with the mainnet. The beacon chain browser launched this time is the 125th blockchain browser supported by Tokenview.
This standard was proposed by Solv Protocol, which defines semi-homogeneous token (SFT) for the first time, a unique and powerful self-describing ability like NFT, and a homogeneous token that can be split and has high liquidity. A new on-chain asset carrier with a sex advantage. The ERC-3525 standard allows developers to create advanced financial assets, such as new financial products such as bonds, options, and asset-backed securities (ABS), broadening the scope and span of financial products on the chain.
(2) X2Y2 will permanently suspend the smart contract on the Ethereum fork chain ETHW
X2Y2 said that for Ethereum’s upcoming merger on block 15540293, X2Y2 will suspend the smart contract of the market 15 minutes in advance, and on the forked ETHW, X2Y2’s smart contract will be suspended forever. If all systems are functioning properly, X2Y2 will re-enable the Ethereum market shortly after the merger.
(4) F2pool will close the ETH mining pool when PoW mining is terminated
https://twitter.com/ (4) BendDAO will suspend all functions 3 hours before the merger
(5) ETHW: refuse to merge the contract freezing code into the main code base, and will not limit the ETHW contract pool in any way
On September 8, the Ethereum fork project EthereumPoW (ETHW) issued an open letter to the Ethereum community, stating that it had finally decided to reject the proposal to merge the contract freeze code into the main code base, and insisted that it would not limit the power of ETHW in any way. contract pool.
(6) The Maker protocol will only support the PoS chain after the merger of Ethereum is completed
(7) Uniswap: does not support any Ethereum fork, and will operate normally during the merger
4. Borrowing
DeFiLlama On September 8, Uniswap Labs recently stated that it will support The Merge and has no plans to support any Ethereum fork in the web-side application. The shift from Proof-of-Work (PoW) to Proof-of-Stake (PoS) is an important building block for scaling the Ethereum ecosystem and immediately reducing its environmental footprint.
(8) StarkNet Alpha 0.10.0 version is launched on the mainnet
StarkWare, the Ethereum scaling solution, announced that StarkNet Alpha 0.10.0 is on the mainnet.
etherchain.orgThe data shows that the value of locked collateral on the chain rose from US$59.16 billion to US$60.27 billion last week, an increase of 1.8% a week; the net increase of US$460 million in the previous week was a net increase of US$1.11 billion last week, a month-on-month increase of 141%. Specifically, the number of ETH mortgages dropped from 21.75 million to 19.93 million last week, a drop of 8.3%. From the perspective of individual projects, the top three lock-up values are: MakerDAO $8.58 billion; Lido $7.63 billion; Uniswap $5.43 billion.
4. News
image description
The data shows that the average computing power last week decreased by 3.7% month-on-month, temporarily reporting 905.4TH/s; the average mining difficulty decreased by 1.4% month-on-month, temporarily reporting 12294T; the activity on the chain increased by 2.8% month-on-month, and the total mining revenue decreased by 0.8% month-on-month .
(1) Argentine Freemasons will launch NFT collections on Ethereum
The Argentine Masonic organization Grand Lodge of Free and Accepted Masons announced that it will launch a collection of NFTs called CryptoMasons on Ethereum. The NFT was created by seven artists, and the collection includes 77 pieces. According to the project party, the choice of this number takes into account the cultural background, and 7 is a number with special significance for Freemasonry. The exact release date of the NFT has not yet been determined, and the project party said that most of the profits will be used for charity. (investing)
(2) Since September, more than 88,000 ETH have been outflowed from the addresses of Ethereum miners
According to data from the OKLink multi-chain browser, since September, miners’ addresses on Ethereum have transferred more than 88,000 ETH, which is worth about 130 million U.S. dollars based on current market prices.
