Bitcoin dynamics
📊 The latest data shows that publicly listed and soon-to-be-listed mining companies are rapidly increasing their market share. In Q2 2024, these 18 mining companies collectively accounted for 32.5% of Bitcoin production, a significant increase from 21.1% in the same period last year. Among them, MARA, Cango, IRE, and CleanSpark had the most notable expansions, driving the overall share increase.
🌏 The Philippine Congress has proposed a new bill to establish a 'strategic Bitcoin reserve' to strengthen the nation's position in the global financial landscape.
💰 The asset size of the spot Bitcoin ETF hit a record high at the end of Q2, reaching $134.6 billion. Institutional investors disclosed positions totaling $33.6 billion through 13F filings, showing that mainstream capital continues to increase.
📉 Matrixport reminds in its latest weekly report that despite Bitcoin reaching new highs, short-term momentum is volatile, and the market is still oscillating within a range. The coming weeks may become critical points for determining market direction.
Ethereum progress
🧩 The Ethereum Foundation has released protocol update 002 — the Blob expansion plan. This plan aims to enhance L2 data availability, supporting scenarios such as real-time payments, DeFi, social media, and AI applications. Core improvements include:
The Fusaka upgrade introduces the PeerDAS architecture, increasing the number of block blobs from 6 to 48;
Blob parameter hard fork (BPO) gradually increases mainnet capacity, with expected throughput improvements of up to 8 times;
Glamsterdam Upgrade (Expected mid-2026) will further expand data availability.
🌐 The European Central Bank is exploring running the digital euro on public chains like Ethereum. If realized, this move would become an important milestone in the development of digital currencies in the EU.
🔮 BitMine Chairman Tom Lee believes that Ethereum has a 50% chance of surpassing Bitcoin's market value in the future, comparing this potential turning point to the 'dollar detaching from the gold standard.'
📊 Data shows that Ethereum ETF reserves have exceeded $30 billion, while 69 treasury companies cumulatively hold nearly $20 billion in ETH, with institutional holdings continuing to rise.
Other project highlights
💡 Ripple has partnered with SBI Group to launch the stablecoin RLUSD in Japan in 2026.
💡 MetaMask has officially launched the native stablecoin mUSD, supported by Bridge and M0 infrastructure.
💡 A recent report from a U.S. bank indicates that stablecoins have disruptive potential in cross-border P2P payments, which may drive hundreds of billions in U.S. Treasury demand in the future.
💡 Vigil Labs AI has completed a $5.7 million seed round funding and is building a 'bionic trader' AI platform.
💡 Chamath Palihapitiya has established a new SPAC, focusing on investments in DeFi and three other major areas.
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The blockchain industry is entering a period of deep evolution, from mining centralization to Ethereum's scalability roadmap, and then to the intersection of stablecoins and AI innovations. The next phase of competition may be even more exciting.
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