缠中禅说

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Interpretation of Cryptocurrency News

At ACDE #165, Ethereum developers discussed: Impact analysis on EIP-6466 and 6406: Progress on Cancun/Deneb testing efforts: Inclusion of builder override flags into the engine API: And inclusion of two in the EIP-4788 specification ring buffer.

EIP-6466 and EIP-6406 are code changes that update the data encoding in the two block header fields transactionsroot and receiptsroot from RLP to SSZ.

In addition, EIP-4788 introduces a new precompilation, a cost-effective smart contract operation that will expose information about CL on EL to prevent excessive usage of storage space through code changes. This feature will unlock many use cases for decentralized applications, such as staking pools and re-staking protocols, which will benefit from trust-minimized access to CL state. Ethereum Foundation researcher Alex Stokes said that the modification will be merged into the final EIP-4788 specification for implementation as soon as possible in Cancun. According to relevant news, the Cancun upgrade has been postponed to the fourth quarter. It is mainly to benefit the second layer. The trend of the second layer tokens in the second half of the year should be paid attention to!

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Interpretation of Cryptocurrency News

BlackRock has refiled documents with U.S. regulators via Nasdaq, adding new details to its proposal to create an ETF that directly invests in Bitcoin. Nasdaq filed a new document with the U.S. Securities and Exchange Commission (SEC) on Monday indicating that Coinbase Global lnc. will provide market oversight in support of the world's largest asset manager's proposed Bitcoin ETF issuance plan. Previously, the Securities and Futures Commission said preliminary documents submitted by the issuer were deemed insufficient and lacked necessary information. Several other firms also made more specific changes to their applications last week, with Fidelity Investments, Invesco, VanEck, 21Shares and WisdomTree all making changes to their applications. BlackRock has submitted another spot ETF application. There is a high probability that it will still not be approved. If it is rejected again, it will trigger a decline in the market. However, Wall Street capital has already focused on Bitcoin, and it is certain that it will pass in the future. , it depends on which world node passes, at least not now.

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Interpretation of Cryptocurrency News

Wall Street giant Fidelity is expected to submit an application for its own spot Bitcoin ETF soon, possibly as early as Tuesday, sources report. In 2021, Fidelity applied for a Bitcoin spot exchange-traded fund called Wise Origin Bitcoin Trust but was rejected by the U.S. Securities and Exchange Commission (SEC) in early 2022. BlackRock also submitted a Bitcoin spot ETF some time ago. More and more institutional giants are starting to develop spot ETFs, which shows that they are very optimistic about this market. Short-term spot ETFs will not be approved. According to relevant news, it is very likely that It may be passed at the end of the year or next year, which coincides with the time of Bitcoin production reduction. It is very likely to bring about a wave of bull market and become the trigger of the next bull market!

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Interpretation of Cryptocurrency News

TheBlock’s research team partners with Coinbase to uncover trends in cryptocurrency and blockchain investments and product plans from the largest U.S. companies and well-known consumer brands. Coinbase released a new report on June 22 called “The State of Cryptocurrency: Enterprise Adoption,” which provides the basis for the research. Since the beginning of 2020, more than half (52%) of Fortune 100 companies have begun implementing cryptocurrency, blockchain or Web3 initiatives. Among the Fortune 100, companies in technology, financial services, and retail lead Web3 adoption since 2020. In 1H23, growth in retail adoption more than offset declines in adoption among financial services companies. Citi Ventures, Google Ventures, Microsoft Ventures, and Goldman Sachs have as much private investment in cryptocurrencies as all other Fortune 100 companies combined. The influence of cryptocurrencies is growing, and more and more institutions are entering the market. The next bull market must be worth looking forward to.

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Interpretation of Cryptocurrency News

Matt Hougan, chief investment officer (CIO) of crypto index fund management company Bitwise, said that a multi-year bull market is kicking off, driven by a long-awaited wave of institutional interest. Hougan said, “(Cryptocurrency) prices have actually been rising since the FTX crash last November. Now BlackRock, the world’s largest asset manager, has taken a stance on the issue, saying Bitcoin is important and this is institutional investors Assets you want to own in the next five to one year. I think we have entered a new era of cryptocurrencies. I call it the 'mainstream era of cryptocurrencies.' I think we have entered a bull market that is just beginning and is multi-year. "

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Interpretation of Cryptocurrency News

VanEck has revised the underlying underlying of its spot Bitcoin ETF to assuage the SEC’s concerns, but an executive at the fund group said regulators should treat all such filings equally. Cboe, the exchange where the VanEck Bitcoin ETF trades, added in a Thursday filing that it expects to enter into a surveillance-sharing agreement with a U.S.-based Bitcoin spot trading platform operator. In addition, asset management giant BlackRock revealed plans to launch a spot Bitcoin ETF for the first time, attracting industry attention. Other companies such as Bitwise, WisdomTreeInvesco and Valkyrie have previously attempted to bring such products to market. This spot ETF must be a big deal, and many institutions are watching. Once the spot ETF passes, the benefits will be greater than Grayscale's entry into the market at that time. Once passed, it will definitely cause a bull market.

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Interpretation of Cryptocurrency News

Grayscale Bitcoin Trust (GBTC) rose more than 12% on Friday after BlackRock filed for a Bitcoin spot ETF last week. Additionally, the “GBTO discount,” which is the difference between the stock price and the net asset value (NAV) of Bitcoin held by GBTC, hit a monthly low of -36.61%, according to YCharts data. It is reported that Grayscale’s flagship product GBTC enables investors to trade trust shares holding Bitcoin pools. Each share is designed to track the current price of Bitcoin, allowing investors to invest in Bitcoin without actually buying and holding the asset itself. currency. Previously, the founder of Morgan Creek said that BlackRock applied for a Bitcoin redeemable trust, which may compete with GBTC. It is still unknown whether the ETF applied for by BlackRock will pass. If it passes, it will definitely have a positive impact on the market. If it does not pass, the market will still fluctuate and plummet at its own pace.

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Interpretation of Cryptocurrency News

Christine Kim, Vice President of Galaxy Research, published a document summarizing the 111th Ethereum Core Developer Consensus Meeting. The consensus layer team discussed the final scope of the Deneb upgrade, potential changes to the validator certification and aggregation period, and the increase in the maximum effective validator balance from 32 coins. It is recommended that ETH be increased to 2048 ETH. First, developers discussed which CL-centric EIPs to include in Deneb, with Teku developer Mikhail Kalinin providing an update around EIP-6988, a proposal that proposes a code change to prevent slashed validators from being forcefully ejected from dual networks. The protocol is selected as the block proposer.

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Interpretation of Cryptocurrency News

Asset management giant BlackRock has a record of 575:1 in approving its ETFs from the U.S. Securities and Exchange Commission (SEC). Historically, the SEC has approved 575 ETFs launched by BlackRock, rejecting it only once in October 2014. BlackRock has submitted a spot ETF document application to the US SEC on June 16.

Will the SEC reject big-ticket spot ETFs this time?

BlackRock may get the U.S. SEC to approve a spot Bitcoin ETF through a regulatory sharing agreement. To mitigate the impact of market manipulation, it will introduce Nasdaq into an oversight-sharing agreement with the operators of BTC spot trading platforms. Surveillance sharing agreements allow the sharing of information about market trading activity, clearing activity and customer identities, making market manipulation less likely.