headlines
▌ The total market value of cryptocurrencies is back above $1 trillion
Jinse Finance reported that according to data from CoinGecko, the total market capitalization of cryptocurrencies rebounded to US$1.04 trillion, up 6.5% in the past 24 hours.
quotes
As of press time, according to coinmarketcap data:
The latest transaction price of BTC is 22133.14 US dollars, with an intraday increase and decrease of +8.54%;
The latest transaction price of ETH is 1587.76 US dollars, with an intraday increase and decrease of +8.49%;
The latest transaction price of BNB is 289.30 US dollars, with an intraday increase and decrease of +5.47%;
The most recent transaction price of OP is US$2.36, with an intraday increase and decrease of +27.62%;
The latest transaction price of DOGE is US$0.07073, with an intraday increase and decrease of +8.00%;
The latest transaction price of SSV is US$36.35, with an intraday increase and decrease of +15.73%;
MATIC’s recent transaction price was US$1.27, with an intraday increase and decrease of +21.43%.
policy
▌Fed announces new emergency program, SVB depositors will have access to all funds on Monday
Golden Finance reported that the Federal Reserve announced a new emergency bank term financing plan, and depositors of SVB Silicon Valley Bank will be able to use all funds on Monday. The Fed said it was prepared to respond to any possible liquidity pressures. The new program will provide emergency loans for up to a year. Taxpayers will not bear any losses related to the SVB resolution.
▌Revised Russian Crypto Mining Act Proposes Imprisonment for Tax Evasion Miners, Up to 4 Years in Prison
Legislators of a bill aimed at regulating Russia’s growing crypto mining industry are now planning to resubmit it and consider amendments with severe consequences for miners who do not comply, Golden Finance reports. According to amendments to the penal code drawn up by the ministry, if miners fail to report income worth more than 15 million rubles (nearly $200,000) twice within three years, they face up to two years in prison, a fine of up to 300,000 rubles, or even a long-term fine. up to two years of forced labor. If the amount of unreported assets exceeds 45 million rubles equivalent in fiat currency (nearly 600,000 U.S. dollars), the penalties are more severe, with up to four years in prison, a fine of up to 2 million rubles, and forced labor for up to four years.
Blockchain application
▌The Sandbox: The ERC-4337 standard will be explored in the coming months
Jinse Finance reported that The Sandbox posted on social media that it is optimistic about the deployment of the ERC-4337 standard by the Ethereum Foundation, especially the smart contracts based on this standard will involve account abstraction and new accounts, allowing projects to pay transaction gas fees for users or allow The user selects a token for payment. The Sandbox currently supports this feature, and The Sandbox plans to explore the ERC-4337 standard in the next few months to simplify the blockchain game user experience.
cryptocurrency
▌Blur’s Ethereum destruction exceeded 10,000 ETH
Jinse Finance reported that according to data from Ultrasound.money, the NFT market aggregator Blur’s destruction of Ethereum has exceeded 10,000 ETH, up to 10,003,83 ETH, surpassing Genie and Polygon (Matic). In addition, the current total amount of ETH burned on the Ethereum chain is approaching 3 million pieces, reaching 2,994,241.71 ETH at the time of writing, and the current burning rate is 3.56 ETH/min.
▌USDC and DAI both rebounded above $0.98
Jinse Finance reported that CoinGecko data shows that the price of USDC has risen above US$0.98 and is currently at US$0.987856. DAI price has also recovered above $0.98 and is currently trading at $0.987856. Golden Finance previously reported that the Federal Reserve announced a new emergency bank term financing plan, and depositors of SVB Silicon Valley Bank will be able to use all funds on Monday.
▌BTC broke through $22,000 in the short term
Jinse Finance reported that the market showed that BTC once broke through $22,000 in the short term, and is now reported at $21,800.9, with an intraday increase of 7.12%. The market fluctuates greatly, so please do a good job in risk control.
▌Dr. Jordan Peterson: Bitcoin can solve the problem of bank failure in the United States
Jinse Finance reported that Dr. Jordan Peterson expressed his opinion on the bank failure in the United States, saying that Bitcoin can solve this problem.
▌The head of the Russian Federal Financial Supervisory Service: Cryptocurrency trading volume in Russia is close to 13 billion US dollars
Jinse Finance reported that Yury Chikhanchin, director of the Russian Federal Financial Supervisory Service (Rosfinmonitoring), reported to Russian President Vladimir Putin on the current operation of the agency. He said that the turnover of Russian crypto assets is growing, and Russian cryptocurrency transactions The amount is close to 13 billion US dollars. Regulators are monitoring the activities of more than 25,000 participants in cryptocurrency exchanges. The service also identified about a dozen financial organizations that offered them assistance.
▌A user redeemed 320,000 APEs from the APE pledge contract and transferred them to Binance for sale, and lost $370,000 due to the price drop of APEs
Jinse Finance reported that, according to a tweet from BitcoinEmber, an observer on the chain, half an hour ago, a user redeemed 320,000 APEs (worth about $1.23 million) from the APE pledge contract and transferred them to Binance for sale. The user raised 320,000 APE from Binance to participate in the pledge near the highest point of this round of APE market (January 26, the price of APE was $6.12). Although he obtained 35,523 APE ($177,000) after 44 days of pledge Gains, but he ended up losing $550,000 due to the drop in the price of APE.
▌Coinbase business director: Pulsechain Sacrifice wallet exchanged 153.7 million DAI with 155 million USDC
Jinse Finance reported that Coinbase Business Director Conor tweeted that the largest USDC net outflow seen on the chain belonged to the Pulsechain Sacrifice wallet, and they exchanged 153.7 million DAI with 155 million USDC over the weekend. They should be using MakerDAO’s PSM directly, Pulsechain ended up taking $1.4 million in slippage, they don’t need to.
▌ETH breaks through $1,500
Jinse Finance reported that the market showed that ETH broke through $1,500 and is now at $1,501.02, an intraday increase of 4.16%. The market fluctuates greatly, so please do a good job in risk control.
important economic developments
▌The Federal Reserve: The Treasury Department will provide US$25 billion in emergency loan support, and Signature Bank has been closed
Jinse Finance reported that the Federal Reserve stated that the Treasury Department will provide US$25 billion in emergency loan support. The US banking system is still resilient and its foundation is still solid. To provide liquidity to U.S. depository institutions, each Federal Reserve bank will provide advances to eligible withdrawals, certain types of securities will serve as collateral, and the Fed will use a variety of tools to support households and businesses. The Federal Reserve stated that Signature Bank has been closed and the New York Department of Financial Services has taken over Signature Bank. All depositors of Silicon Valley Bank and Signature Bank will be fully protected, but shareholders and certain unsecured bondholders will not be protected. New York’s Department of Financial Services said it was working closely with other regulators. The Federal Reserve is closely monitoring conditions across the financial system and will take additional measures as appropriate.
Golden Encyclopedia
▌Byzantine failures – Byzantine generals problem
The Byzantine Generals Problem is a fundamental problem in peer-to-peer communication posed by Leslie Lambert. The implication is that attempting to achieve consensus by means of message delivery over an unreliable channel with message loss is impossible. Therefore, research on consistency generally assumes that the channel is reliable, or this problem does not exist.
Disclaimer: As a blockchain information platform, Jinse Finance publishes articles for informational reference only and not as actual investment advice. Please establish a correct investment philosophy and be sure to raise your risk awareness.