▌Bloomberg analyst: 9 Ethereum futures ETFs may be approved at the same time next Monday
Golden Finance reported that Bloomberg analyst James Seyffart posted on social media that assuming the SEC speeds up processing of all applications before the government shutdown, there are currently 9 potential Ethereum futures ETFs (including 4 Bitcoin + Ethereum combos) (a futures ETF), the SEC may accelerate the approval of the launch of these ETFs on Monday (given that there is a precedent for the approval of Ethereum futures ETFs).
▌Vitalik: It is reasonable to “encapsulate” certain functions in the Ethereum protocol and follow the minimum viable encapsulation route
According to news on September 30, Vitalik Buterin, co-founder of Ethereum, published an article discussing whether Ethereum should ‘encapsulate’ more content in the protocol. The article points out that creating minimalist software can easily adapt to the different needs of users and avoid the curse of software bloat. However, blockchain is not a personal computing operating system, but a social system. This means that it makes sense to encapsulate certain functionality in the protocol. In many cases, these other examples are similar to what we saw in the account abstraction. But we also learned some new lessons: – Encapsulating functionality can help avoid centralization risks in other areas of the stack; – Encapsulating too much may overextend the trust and governance burden of the protocol; – Encapsulating too much may The protocol is too complex; – Encapsulating functionality may be counterproductive in the long term because user needs are unpredictable. Additionally, liquidity staking, ZK-EVM, and precompiled examples show the possibility of a middle path: minimal viable enshrinement. The protocol does not need to encapsulate the entire functionality, but can contain specific parts that address key challenges, making the functionality easy to implement without being too paranoid or too narrow. Examples include: – Rather than encapsulating a complete liquidity staking system, it is better to change the staking penalty rules to make trustless liquidity staking more feasible; – Rather than encapsulating more precompilers, it is better to encapsulate EVM-MAX and/or SIMD , to make a wider class of operations easier to implement efficiently; – EVM verification can simply be encapsulated, rather than the entire concept of rollups.
As of press time, according to coinmarketcap data:
BTC’s recent transaction price was US$25,946.8, with an intraday increase or decrease of +0.73%;
ETH’s recent transaction price was $1,591.95, with an intraday increase or decrease of +0.93%;
BNB’s recent transaction price was $211.4, with an intraday increase or decrease of +1.15%;
XRP’s recent transaction price was $0.47802, with an intraday increase or decrease of +1.34%;
DOGE’s recent transaction price was $0.061133, with an intraday increase or decrease of +0.46%;
ADA’s recent transaction price was $0.2469, with an intraday increase or decrease of +0.61%;
SOL’s recent transaction price was $18.2, with an intraday increase or decrease of +1.35%.
▌SEC delays decision on VanEck Spot Bitcoin ETF
According to news on September 30, the SEC has postponed a decision on VanEck’s spot Bitcoin ETF application. The regulator said it was launching additional procedures to determine whether the proposed ETF should be approved or disapproved. The SEC requires commentators to provide opinions, and they have 21 days to submit written information, opinions and arguments; there is also a 35-day rebuttal period, which means that the approval process will drag on for at least several months. In addition, the SEC stated in response to WisdomTree’s spot Bitcoin ETF application: “The launch of the proceedings does not indicate that the Commission has reached any conclusions on any of the issues involved.” The SEC also added that it hopes to have new opinions on the proposed supervision-sharing agreement with Coinbase. view.
▌Brazil launches blockchain-based Crypto ID card
Golden Finance reported that the Brazilian government recently announced that more than 214 million Brazilians will soon use blockchain technology for Crypto identification. Rio de Janeiro, Goiás and Paraná will be the first states to issue identity documents on-chain via a private blockchain developed by Brazil’s national data processing service Serpro. A decree issued on September 25 said that by November 6, identity documents should be issued nationwide through blockchain technology. Serpro President Alexandre Amorim said that the immutability and decentralization of blockchain make it an ideal technology for the country’s Crypto identification project. Blockchain technology plays a key role in protecting personal data and preventing fraud, providing Brazilian citizens with A more secure Crypto experience, using the b-Cadastros blockchain platform can significantly enhance the security and reliability of the national identity card project.
▌Circle announces the launch of Circle Research and Perimeter Protocol
Jin Finance reported that Circle announced the launch of Circle Research and Perimeter Protocol. Among them, Circle Research’s focus areas include cryptography, cryptocurrency standards, zero-knowledge proof (ZKP) technology and smart contract development, developing insights and reference materials at the forefront of the industry. Perimeter Protocol is a set of smart contracts built by Circle Research based on open standards that enables the seamless exchange of capital on a secure, open and public network. Perimeter Protocol allows developers and builders to access a vetted open source protocol that they can freely use to use USDC’s unique credit applications.
▌ProShares announced that it will launch the Ether Strategy ETF and two strategy ETFs on October 2
Golden Finance reported that ProShares announced that it will launch the Ethereum Strategy ETF (EETH) on October 2, which is the first ETF to target the performance of Ethereum. At the same time, ProShares also launched the equally weighted strategy ETF (BETE) and the market capitalization weighted strategy ETF (BETH) for Bitcoin and Ethereum. Each hopes to provide performance that corresponds to the mixed returns of Bitcoin and Ethereum. The ProShares Bitcoin and Ethereum Equal Weight Strategy ETF (BETE) rebalances the 50/50 weighting between the two cryptocurrencies monthly. The ProShares Bitcoin and Ethereum Market Cap Weighted Strategy ETF (BETH) is rebalanced monthly based on the market cap of Bitcoin and Ethereum. All three ETFs will be available to investors through brokerage accounts, with no cryptocurrency custodian, trading account or wallet required. The ETFs will be listed on the New York Stock Exchange. It is reported that ProShares launched the first Bitcoin-linked ETF BITO in 2021, and in 2022, ProShares launched the first short-selling Bitcoin-linked ETF BITI. The launch of EETH, BETE and BETH brings ProShares’ cryptocurrency ETF offerings to five.
▌The total trading volume of cryptocurrency options in the past 24 hours was $2.47 billion
Golden Finance reported that the cryptocurrency options trading platform Deribit posted on social media that the total cryptocurrency options trading volume in the past 24 hours was US$2.47 billion. This represents 3.7% of global 24-hour perpetual trading volume across all exchanges. Historically, this ratio has never been higher. Cryptocurrency options trading is building momentum.
▌USDC circulation decreased by US$300 million in the past week
Jin Finance reported that as of September 28, 2023, Circle has issued a total of US$800 million USDC and redeemed US$1.1 billion USDC in the past seven days, and the circulation has decreased by US$300 million. The total circulation of USDC is US$25.5 billion, with reserves of US$25.6 billion, including US$1.8 billion in cash and US$23.9 billion held by the Circle Reserve Fund.
▌The total number of ETH 2.0 pledges has exceeded 29.7326 million
Jin Finance reported that data shows that the total number of ETH 2.0 pledges has exceeded 29.7326 million, reaching 29,732,630, which is worth approximately US$48.104 billion at the current market price. In addition, the total number of ETH 2.0 pledge addresses currently exceeds 979,200, reaching 979,196.
▌Bitcoin miners are reducing transaction backlog amid dwindling number of new minted inscriptions
Golden Finance reports that the transaction backlog is decreasing as Bitcoin miners face a reduction in the number of newly minted inscriptions. Since the number of transactions reached almost 700,000 on September 6, 2023, Bitcoin miners have been steadily clearing the memory pool of unconfirmed transactions. Transaction. Currently, the number of unconfirmed transactions has dropped to just over 153,000 pending transactions.
Important economic developments
▌BRICS countries consider new payment system to challenge SWIFT
Golden Finance reports that the BRICS countries, a global economic alliance, are considering introducing a new global payment system. The system can bypass the universally recognized banking protocol SWIFT. According to the Russian state-funded media TASS, the finance ministers of the BRICS countries are currently evaluating the feasibility of this unified payment network. It is worth noting that its impact and potential will be formally discussed at the upcoming BRICS summit next year.
When a single individual or group exceeds half of the computing power, this individual or group can control the entire cryptocurrency network. If they have some malicious ideas, they may issue some conflicting transactions to damage the entire network.
Disclaimer: As a blockchain information platform, Golden Finance publishes articles for information reference only and not as actual investment advice. Please establish a correct investment philosophy and be sure to increase your risk awareness.