News of cryptocurrencies of the 3rd week of February 2023

Almost 70% of ETH stake holders are at a loss 

Source: Dune Analytics

As a result of a Binance Research study, it turned out that since December 2020, 69% of the 16.5 million in ETH that were sent to stacking have been at a loss. That is, the price of the coin is currently lower than when these coins were sent to stacking. Experts are already assessing the likely consequences after the Shanghai update, which will allow you to withdraw coins from staking.

Bitcoin reached $25,000 and rolled back 

This week, the Bitcoin exchange rate reached $25,000, but then rolled back a little. Despite a good start to 2023, Bitcoin is still 60% below its all-time high of $69,000, which was recorded on November 10, 2021. At the moment, the exchange rate is hovering around $ 24700.

The Race between Platforms to Scale Ethereum is Heating Up 

Ethereum scaling technologies are becoming increasingly popular. So, Polygon Labs is working on zkSync Era. Projects like zkSync Era combine transactions and then send them to the first-level Ethereum blockchain. Developers strive to achieve the ability to apply zero-disclosure proof and support absolutely all Ethereum projects. In addition to zkEVM, there is another scaling technology, on the basis of which Arbitrum and Optimism work, Optimistic Rollups.

The Tron network has a record network fee  

A week ago, there was an update in the Tron network, as a result of which the network fee doubled. This was done in order to interfere with low-value contracts that take time to execute. Now the amount of energy consumption by smart contracts dynamically changes depending on the resources that are used for execution. Prior to the upgrade, contracts with the lowest fee, including fraudulent smart contracts, spent about 85% of CPU execution time on the Tron network. Recalculation of the commission does not harm other decentralized applications, but increases the cost of processing low-value and suspicious transactions.

BUSD loses Investors 

In the fall of 2022, Binance reduced support for the USDP, TUSD and USDC stablecoins and merged them into BUSD. The other day Paxos announced the termination of the issue of new BUSDS on the instructions of the Department of Financial Services of the State of New York. Binance released stablecoins using the same BUSD branding on other blockchains that were supposed to be secured by one-to-one Ethereum BUSD issued by Paxos. However, records show that they were not always fully supported in the past. In addition, Paxos received a Wells notification from the SEC, which claims that the BUSD stablecoin is a security. Against the background of what is happening, BUSD's market capitalization fell from $16.1 billion to $13.7 billion. Meanwhile, the capitalization of USDT increased by $2.37 billion.

The number of Bitcoin addresses with a non-zero balance has updated the absolute maximum

The number of Bitcoin addresses with a non-zero balance has updated the absolute maximum, exceeding the number of 44 million.

0.75 BTC was paid for recording the image of a brick in the Bitcoin blockchain

The user paid 0.75 BTC ($18,400) for recording the image of a brick in the Bitcoin blockchain via the Ordinals protocol. Earlier, the deployment of Ordinal NFT in the Bitcoin blockchain caused controversy in the crypto community. Some are sure that this undermines the initial idea of Satoshi Nakamoto, and that Bitcoin is not the place for NFT.

The new CEO of Twitter

Elon Musk introduces the new CEO of Twitter, saying that he is much better than Parag Agrawal. Musk fired Agarwal as soon as he took over the company in a $44 billion deal. Musk shared a photo of his shiba inu dog Floki sitting on the CEO's chair. As a result, the FLOKI token grew by 40%, DOGE and SHIBA — by 5%.

Recent posts