gate Research Institute: BTC probes the $90,000 level, and the total staking amount of ETH 2.0 beacon chain reaches 34 million ETH

Summary

• BTC has fallen 2.62% in the past 24 hours, with a low price of $90,800, approaching the $90,000 mark.
• Recently, MEMEFI, which has been listed on major exchanges, has performed well, with a daily increase of 85.22%, leading the altcoin zone.
• ETH Ethereum stake total exceeds 34 million ETH, with Lido taking the lead
• Arkham data shows that Trump holds over 5.4 million USD of encryption assets, with Ether accounting for the highest proportion
• Integrated public chain Supra announced that it will launch Mainnet and start TGE on November 27th.

Market Review

According to gate market data, as of 0:00 on November 27th (UTC+0)【1】:

• BTC - The BTC price has dropped by 2.62% in the past 24 hours, with the current price at $93,125.1, the highest price in the past 24 hours at $96,000, and the lowest price at $90,700.0. The BTC price has fallen from its high, currently in a downtrend within a 1-hour time frame, forming support around 90,720, with the Trading Volume gradually dropping. The market may enter a period of oscillation in the future.

• ETH - The price of ETH has dropped by 3.83% in the past 24 hours, with the current price at $3,251.53. The highest price in the past 24 hours was $3,461.84, and the lowest price was $3,251.85. After a pullback from $3,500 to $3,314, the price of ETH has been in a range-bound market. It has formed strong support near $3,251 and is expected to continue entering the pump channel once it stabilizes.

• ETF - According to SoSoValue data, on November 26, the total net outflow of the US BTCSpot ETF exceeded 122 million US dollars, and the total net outflow of the US ETHSpot ETF was 40.67 million US dollars.【3】
• US Stock Three Major Indexes - S&P 500 Index pump 0.57%, NASDAQ Index pump 0.62%, Dow Jones Index pump 0.28%.【5】
• Spot Gold - The spot gold price is at $2,629.86 per ounce, down 0.13% on the day.
• Fear and Greed Index - The Fear and Greed Index has dropped from 79 to 75, indicating that the market is in a greedy state. 【6】

Popular Tokens

According to gate market data [7], combined with the volume and price performance in the past 24 hours, the popular altcoins are as follows:

MEMEFI - The single-day increase is about 85.22%, with a market capitalization of 1.32 billion US dollars. MEMEFI is a community-driven multi-functional Token mainly used for Web3 applications and Telegram advertising networks within the MemeFi ecosystem. The Token is used in games for rewards, character development, payment of microtransactions, and discounts on advertising network services. [8]

MEMEFI recently listed on multiple exchanges, and the listing expectation has sparked investors' interest, driving the price pump. At the same time, well-known investment institutions such as AC Capital's investment in MemeFi have strengthened market confidence in the project, further promoting the price rise.

AI16Z - The single-day increase is about 50.8%, with a market capitalization of 2.43 billion US dollars. AI16Z is an innovative project that combines artificial intelligence and blockchain technology. It simulates Marc Andreessen's venture capital role and provides investment advice and interactive experiences for community users through self-operating Wallet and chatbot DegenAI. The project operates in the form of a Decentralized Autonomous Organization (DAO) and creates unique interactive scenarios and Token value for users.

Recently, the founder of AI16Z updated the community with multiple Favourable Information messages, including plans to launch AI16Z DAO autonomous trading functionality next week, further enhancing the Decentralization and operational capabilities of Token. In addition, the team is exploring the establishment of a legal entity with a16z and first-tier CEX to pave the way for the subsequent launch of an exchange, and is also in talks with potential partners such as the ETH Foundation and Magic Eden to expand the ecosystem. These significant developments not only enhance the market's confidence in AI16Z, but also significantly pump up its price. [9]

ZULU - Single-day increase of about 11.74%, with a market capitalization of 2.43 million US dollars Zulu Network is the first native BTC DePIN layer that combines the security of BTC with the flexibility of EVM. It focuses on AI and DePIN application optimization, providing users with stake assets and income opportunities.

Recently, the price of Zulu Network's token $ZULU has pumped nearly 12%, mainly due to a 5-day promotion launched by a well-known Centralized Exchange (CEX). The promotion encourages users to deposit, trade $ZULU, and invite friends to join, attracting a large number of market followers through the reward token pool. In addition, this activity further enhances the volume and liquidity of $ZULU, consolidating its position in the DePIN ecosystem. These favourable information boost market confidence and drive the price of $ZULU to rise rapidly. [10]

Highlight Data

ETH Ethereum stake total exceeds 34 million ETH, with Lido dominating The total stake of the ETH Beacon Chain reaches 34,707,046 ETH, accounting for 28.31% of the total supply of ETH. Among them, Liquidity stake protocol Lido dominates the market with a stake of 9,732,029 ETH, accounting for 28.04% of the total, and the number of validators reaches 304k. Coinbase ranks second with 3,662,947 ETH (10.55%). Since the Shanghai upgrade, the net inflow of stake is 16,541,056 ETH, indicating a continued demand for stake in the market.【11】

Lido's market share approaching thirty percent reflects the importance and market acceptance of Liquiditystake. However, this high degree of centralization may bring risks of inadequate Decentralization. At the same time, the rise of ETH stake indicates users' confidence in network earnings and stability.

Bitcoinon-chainvolume surged, hitting a new high for the year The on-chain volume of Bitcoin has experienced significant fluctuations since the beginning of the year. The volume maintained a range of 40-50 billion US dollars in the early part of the year and reached a phase high of 80 billion US dollars in late February, then began to decline, dropping to a low point of about 40 billion US dollars in May. However, since October, the volume has been noticeably climbing and recently approached 100 billion US dollars, reaching a new high for the year. [12]

The surge in on-chainvolume indicates increased market activity and the flow of large amounts of funds. The recent pump may be driven by the breakthrough pump in BTC price, improved market sentiment, and more institutional funds entering. In addition, year-end market may be affected by macroeconomic factors.

The daily issuance of Tokens on the Pump.fun platform is high, but the success rate of projects is relatively low In the past 24 hours, Pump.fun platform has launched a total of 42,168 Tokens, with only 587 Tokens successfully "graduating". This indicates that the platform has a very high token issuance volume, but a relatively low success rate for projects, around 1.2%.【13】

To be able to launch successfully on Raydium (i.e., achieving a market cap of over $69,000, i.e., reaching the 'graduation' criteria)

As a low-threshold, one-click Token issuance tool, Pump.fun platform reflects the strong demand from users to create Tokens through its rapidly rising Token quantity. However, only a small number of Tokens have successfully 'graduated', indicating that most projects have not received sufficient market recognition or actual value. This high traffic and low success rate phenomenon may result in uneven Token quality on the platform.

If we want to improve the success rate of Token in the future, perhaps we can introduce a stricter review mechanism to optimize the overall ecological quality and enhance market attractiveness.

Solana network fees generated $70 million in transaction fee revenue last week, reaching a new all-time high According to Artemis data, last week, Solana network's fee income reached 70 million USD, setting a historical record and demonstrating the strong momentum of its ecosystem. The recent memecoin craze has been a major driving force, attracting a large number of users to flock to the network. Decentralization applications like Moonshot not only support Apple Pay deposit, but also further drop the barrier of entry for ordinary users. In addition, the Pump.fun platform, which introduces over 40,000 new Tokens per day, has significantly increased the trading frequency, providing significant support for fee income.

It is worth mentioning that half of these fees (about 35 million US dollars) are fed back into the value of $SOL Token through the destruction mechanism, directly creating returns for holders. Solana's unique economic model tightly binds the rise of fees with the Token ecosystem, providing stable intrinsic motivation for its long-term development. It is expected that Solana's total revenue in 2024 is expected to exceed 300 million US dollars, further consolidating its market position as a mainstream public chain.

The size of the US Treasury market is $2.5 billion, with on-chain RWA asset value exceeding $13 billion According to the data from rwa.xyz, with the deep application of Blockchain technology, the tokenization of the US Treasury market has reached a scale of 2.5 billion dollars, and the total value of on-chain RWA (Real World Assets) has exceeded 13.4 billion dollars, demonstrating the amazing potential rise in this field. RWA combines TradFi assets with Blockchain technology, achieving efficient, transparent, and decentralized asset management through Smart Contracts. The successful case of tokenizing US Treasury bonds indicates that Blockchain technology is gradually penetrating the TradFi system.

This trend also reflects the increasing trust of institutional investors in Block chain assets. By putting low-risk, high-yield assets such as US Treasury bonds on the chain, investors can not only enjoy security, but also gain greater flexibility from DeFi. This development also brings new impetus to the Block chain industry, and the future RWA market is expected to become an important area driving the large-scale application of Block chain.

Hotspot Comments

Trump holds over $5.4 million in encryption assets, with the highest proportion in ETH According to Arkham data, the current total value of encryption assets held by Trump is $5,417,277, with the main assets being ETH and WETH. He holds 495.664 ETH, worth about $1.7 million, and 478.787 WETH, worth about $1.64 million, together accounting for over 60% of his total investment. In addition, he also holds 579,290 Trump Tokens (worth about $1 million) and smaller amounts of tokens such as TROG, GUA, and USDC. Trump's encryption asset portfolio shows a preference for the Ethereum ecosystem. The high holdings of Trump Tokens indicate his support for personal brand-related assets. [16]

Uniswap v4 launches the largest bug bounty program in history, with a maximum of $15.5 million Uniswap Labs recently launched a bug bounty program worth $15.5 million to encourage developers and security researchers to conduct in-depth audits of its v4 core contracts. This initiative not only demonstrates Uniswap's commitment to platform security but also provides an important incentive for the community to discover and report potential vulnerabilities. According to the official announcement, rewards for reporting significant vulnerabilities will be allocated based on the risk level of the vulnerability, with bounties for critical vulnerabilities reaching up to $15.5 million. This is undoubtedly one of the largest bug bounty programs in the blockchain industry. The program covers all deployed contracts of Uniswap v4 core and ensures strict confidentiality in the vulnerability disclosure process to avoid any harm to the platform.

This vulnerability Bounty Program is not only an incentive for developers and security researchers, but also reflects Uniswap's determination to improve platform security. With the continuous rise of Decentralized Finance (DeFi) applications, security has become one of the most followed issues for users. Through this form of Bounty Program, Uniswap Labs can attract security experts from around the world to join, timely discover and fix potential vulnerabilities, thereby improving the overall security and reliability of the platform. For the encryption industry, this open security review mechanism is undoubtedly a positive signal, indicating that blockchain projects always prioritize security while pursuing innovation. [17]

Integrated public chain Supra announced that it will launch Mainnet and initiate TGE on November 27. Supra Mainnet, the integrated public chain, officially launched on November 27th, marking a new stage for its Web3 ecosystem. As the first vertically integrated L1 public chain, Supra provides innovative features such as MultiVM and native Oracle Machine, and has completed a $38 million financing. Since the launch of the testnet in August, Supra has processed over 9 million transactions, attracting 510,000 users. The $SUPRA Token will be released on gate on November 27th. Supra's launch will provide developers with an efficient and flexible development environment, accelerating the implementation of Web3 applications. In the future, Supra will continue to attract top developers worldwide to build a thriving Web3 ecosystem.

Financing Information

According to RootData data, a total of 5 projects publicly announced financing in the past 24 hours, with a total financing amount exceeding 24.16 million US dollars. The highest single financing amount reached 10 million US dollars, involving zones such as AI, infrastructure, etc. Here are the specific financing details: 01928374656574839201

Talus Network - Talus Network has completed a $6 million seed round of financing, with participation from Polychain Capital, Foresight Ventures, and others. Talus Network is a high-throughput blockchain protocol that focuses on supporting decentralized AI agents, aiming to promote the integration of AI and encryption fields through blockchain infrastructure.

Balance - Balance has completed a $10 million financing round with investors such as Animoca Brands and Amber Group. Balance is committed to building a secure and stable global social and gaming network using AI and blockchain technology. The platform provides users worldwide with better services through AI-driven blockchain technology.

Schuman Financia - Completed a $7.36 million seed round financing, with participation from RockawayX, Lightspeed Faction, etc. Schuman Financial is a company dedicated to building blockchain financial infrastructure under EU regulation, focusing on transferring euro-denominated financial services to on-chain. The company recently launched EURØP, a euro stablecoin that complies with MiCA regulations. This stablecoin is fully backed by cash and equivalents, pegged to the euro at a 1:1 ratio. It aims to simplify global digital payments, on-chain forex trading, and the tokenization of real assets.

Airdrop Opportunity

Portal — Portal is a Decentralized Finance project based on BTC, dedicated to enabling anonymous, zero-knowledge transactions through Cross-Chain Interaction Decentralization exchange (DEX). Its unique atomic swap technology eliminates intermediary risks, avoiding security vulnerabilities associated with minting Token packages (such as wBTC, WETH) or bridging. Portal has raised $42.5 million and recently launched a testnet, offering users the opportunity to earn rewards through LiteNodes.【20】

Participation Method:

1. Download and install Portal DEX Wallet, create or import Wallet.
2. Connect the wallet to the Portal account, and set up the Twitter and Discord associations.
3. Complete all tasks to get rewards.
4. Share the referral link with fren and invite them to participate.
5. Complete Zealy tasks and earn points. [21]
6. Open Wallet, apply for test tokens and engage in exchange interaction.

Note: Airdrop plans and participation methods may be updated at any time. It is recommended that users follow the official channels of Portal to obtain the latest information. At the same time, users should participate cautiously, pay attention to risks, and conduct sufficient research before participating. gate does not guarantee the subsequent Airdrop rewards distribution.
Reference:

1. Gate.io,
2. Soso Value,
3. CoinGecko,
4. Investing,
5. Investing,
6. Gate.io,
7. Gate.io,
8. X,
9. X,
10. Gate.io,
11. Dune,
12. The block,
13. Dune,
14. Artemis,
15. RWA.xyz,
16. X,
17. X,
18. X,
19. Rootdata,
20. X,
21. Zealy,

Click link to go now.

Disclaimer Investing in the cryptocurrency market involves high risks. It is recommended that users conduct independent research and fully understand the nature of the assets and products they are purchasing before making any investment decisions. gate is not responsible for any losses or damages caused by such investment decisions.