Ethereum News

According to data from the official website of Ethereum, the ARP of ETH pledged on the Ethereum beacon chain has dropped again, currently at 3.8%.

Historical data shows that the indicator fell below 4% on November 14, the second time this month it fell. Currently, the total amount of pledged ETH on the Ethereum beacon chain is 16,244,637 ETH, and the total number of validators is 479,543.

The recent WBTC/BTC de-anchoring caused doubts among members of the encryption community. The community took the opportunity to publish a spoof article mocking WBTC, “WETH has de-anchored from ETH, and poorart.weth announced that it has filled its $2 billion shortfall by raising funds.” The contract directly encapsulates the token of ETH, and the contract level can realize 1:1 exchange.

Poordart.weth, co-founder of the Wrapped Ethereum (WETH) Foundation, also joked, “Unfortunately, the rumors are true. The entire project will be returned to the community (except the treasury), and I will go to a non-extradition country to recuperate my spirit.” Justin Sun also joined in, stating that “As a member of the cryptocurrency industry, I have personally discussed with Vitalik Buterin that together we will invest $2 billion in the WETH Foundation to restore all funds.”

Dune data shows that Alameda Research, which has filed for bankruptcy, is the largest minter of WBTC. Twitter user Castaneda stated that Alameda has acted as a merchant at Wayback Machine Checkpoint since at least September 28, 2020, but Alameda can only mint WBTC, not custody BTC. Now Alameda is no longer listed as a merchant, and the Alameda custodian wallet cannot be found on the audit page.

By checking the wallet of its previous custodian, it was found that the wallet was emptied, and the last 5,000 BTC were withdrawn on November 11, shortly after the FTX crash. Castaneda emphasized that it does not believe this poses any systemic risk, as custodians still maintain the necessary reserves to ensure a 1:1 ratio between WBTC/BTC. WBTC still looks solid, with price swings that appear to be driven more by market panic than insolvency.

According to data from blockchain analysis company Glassnode, 179,250 BTC have flowed out of exchanges in the past month, worth more than $2.8 billion, reaching the highest level in more than four years.

According to the analysis of encrypted data company Santiment, since November 24, 2018, the supply of Bitcoin on encrypted exchanges fell below 7% for the first time, accounting for 6.95%.

According to the metaverse patent ranking compiled by Tokyo-based research firm Cyber Creative Institute, since 2016, LG has filed the most metaverse patent applications, climbing from 11th place in 2010-2015 to first place.

Samsung Electronics came in second. Huawei, which did not make the top 20 in previous surveys, has now jumped to fourth place with a large number of patents related to image and display processing. Meta is third, Microsoft is fifth, and Intel and Apple are among the six U.S. companies in the top ten.

Sony is the only Japanese company to make it into the top 10, coming in at number six. Taken together, the top 20 companies submitted a total of 7,760 metaverse patents, of which the United States accounted for 57%, followed by South Korea with 19%, and China with 12%. Japanese companies accounted for 8%.

According to coingecko data, after Argentina defeated Mexico on November 27, the fan token ARG continued to fall, and has now dropped to $4.18, a drop of 14.7% in the past 24 hours, and a drop of 51.1% during the World Cup.

ARG hit an all-time high of $9.19 on November 18 before the start of the World Cup, but it plummeted after Argentina lost to Saudi Arabia, and has been on a downward trend ever since.

According to data from Dune Analytics, the cumulative lock-up volume of ERC-20 Token on the Ethereum Layer 2 network Arbitrum chain exceeded $5 billion, reaching $5.188 billion at the time of writing.

As of now, the total lock-up volume on the Arbitrum chain is 3.157 billion US dollars, the total number of contracts created on the chain is 1,007,716, the total number of transactions has reached 68.78 million, and the total number of accounts created on the chain is 2.01 million, of which the number of active accounts is 158.6 ten thousand.

According to Coinmarketcap data, about $3.5 billion worth of stablecoins have been redeemed in the past 14 days. Among them, the supply of USDT, the stablecoin issued by Tether, has dropped from more than $67 billion to $65 billion, which means that since the collapse of FTX, investors Approximately $2 billion in USDT has been redeemed.

This concern has also spread to Binance-backed BUSD, whose supply has dropped from over $23 billion to around $22.5 billion, a loss of $500 million. DAI was also affected, with its supply falling from $5.7 billion to $5.2 billion.

Israel’s Tel Aviv Stock Exchange (TASE) hopes to launch a new digital currency trading platform within the next few years.

The exchange will come to fruition between 2023 and 2027 and will offer customers new blockchain-based trading services so they can participate in the crypto space. In a recent statement, TASE mentioned: TASE will facilitate the implementation of innovative technologies, including DLT, tokenization of various digital assets and smart contracts.

TASE intends to study a number of potential action plans, including converting existing infrastructure to innovative technologies, deploying innovative technologies to dedicated platforms, providing a package of services and products for digital assets, etc.

Binance CEO CZ said at a Binance event in Athens that the industry is in a healthier state after a bad 2022 and he expects better things to come in 2023.

However, CZ declined to make any specific predictions. According to CZ, our trick is to monitor the industry, and then no matter what the trend is, we will try to support it, and FTX is more like Madoff. It’s lying, it’s a Ponzi scheme, but just because FTX happened doesn’t mean every other business is bad.

The PRADA Crypted website, an encryption division of the luxury goods giant PRADA, disclosed that it will launch a new Timecapsule NFT series on December 1, 2022. This is the seventh Timecapsule NFT series released by the brand. This time, 50 pieces will be issued, and holders can purchase them. Limited edition merchandise available for a limited time 24 hours only.

According to OpenSea data, the current floor price of PRADA Timecapsule is 0.75 ETH, and the transaction volume is 25 ETH.

The recent de-anchoring of WBTC/BTC has aroused doubts from members of the encryption community. Twitter user Castaneda pointed out that according to the mechanics of the WBTC ecosystem, when a merchant wishes to create new WBTC, it must first provide real BTC to the custodian, who then mints the new WBTC and provides it to the merchant. When merchants wish to recover BTC, they must destroy the same amount of WBTC, thus ensuring that their WBTC amount does not exceed BTC.

Alameda has acted as a merchant at Wayback Machine Checkpoint since at least September 28, 2020, but Alameda can only mint WBTC, not custody BTC. Now Alameda is no longer listed as a merchant, and the Alameda custodian wallet cannot be found on the audit page.

Castaneda said that by checking the wallet of its previous custodian, it was found that the wallet was emptied, and the last 5,000 BTC were withdrawn on November 11, shortly after the FTX crash.

Castaneda emphasized, “However, we don’t think this poses any systemic risk because what is really important is that the custodians still maintain the necessary reserves to ensure a 1:1 ratio between WBTC/BTC. While people can still use 1 WBTC is exchanged for 1 BTC, but it is possible to arbitrage when there is a discount. According to our assessment, WBTC still looks stable, and price fluctuations seem to be caused more by market panic than insolvency.”