Crypto Guides, Knowledge & Insights

This Week's Noteworthy Events(July 15, 2024-July 21, 2024)

Ethereum Spot ETF May Launch This Week　　Several prominent individuals believe that the Ethereum spot ETF could launch this week.　　Bloomberg ETF analyst Eric Balchunas predicts that the U.S. SEC may approve the spot Ethereum ETF on July 18.　　Nate Geraci, president of The ETF Store, posted on X: “I would be shocked if a spot Ethereum ETF does not begin trading within the next two weeks. It could launch as early as late next week, but more likely the week of July 15.”　　Singapore crypto investment firm QCP Capital expects the Ethereum spot ETF to start trading around July 15.DOGS Announces Donation of Raised Telegram Stars to Charity, Event Ends on July 15　　The TON ecosystem meme project DOGS announced on its official channel that the event for purchasing DOGS points using Telegram Stars will end on July 15, and all proceeds from the Telegram Stars will be donated to charity. The specific charity will be chosen through community voting.　　Previously, it was reported that the DOGS mini-program launched a new feature allowing users to purchase DOGS points with Telegram Stars, with 1 Telegram Star buying 1 DOGS point.South Korean Crypto Exchange GDAC to Terminate Services on July 16　　South Korean crypto exchange GDAC announced that

2024-07-15Deep Dive

Why Did the MEME Project DOGS from TON Explode in Popularity Overnight?

Overnight, a project called DOGS exploded in popularity due to its airdrop to Telegram users.　　According to the information, the DOGS Community was created on July 4th and released its first message on July 9th. In just two days, it surpassed one million users.　　The DOGS Telegram channel provides a detailed introduction: This dog, named Spotty, is the project‘s mascot. The team stated at the end of the message: “Why choose DOGS？ This is not just another meme coin. It is the meme coin best suited for Telegram, embodying the spirit and culture of a vibrant community. Bringing Spotty’s legacy into the cryptocurrency world, we aim to create something fun, community-driven, and unique.”　　The character Spotty was inspired by the mascot created by TONs founder, Pavel Durov. Some media claim that DOGS was launched by the creator Blum with the support of Notcoin. Currently, points can be earned, which should be convertible to tokens later.　　Users only need to open the DOGS Mini APP, and the bot will automatically analyze their Telegram account. The older and more active the account, the more points it earns. Telegram Premium accounts can also earn extra points. Additionally, inviting friends to join will grant extra points.　　The specific factors

2024-07-11Deep Dive

Is Altcoin Season Coming? Key Sectors to Watch

The first half of 2024 ended with corrections and consolidation in the crypto market. BTCs market share fluctuated between 50% and 54%, while altcoins underperformed. Altcoins invested in by VCs and facing significant unlocks were particularly resisted by the market.　　As the market continued to correct and consolidate, many altcoins lost almost all their gains from the past six months. Historically, during bull markets, altcoins surged after BTCs rise and consolidation. The lack of an altcoin surge this time suggests that the bull market may not have truly begun.　　Despite the markets consolidation due to Mt.Gox repayments and selling pressure from the German government, the potential approval of an ETH ETF and a Federal Reserve rate cut remain promising. These factors are seen as significant drivers for market movement.　　If an altcoin season emerges, which sectors should be watched？ Here are some insights based on market trends and future prospects, representing the views of WikiBit analysts without investment advice.Ethereum Sector　　The most noteworthy aspect of Ethereum this year isnt its technical development but the potential approval of a spot ETF. Approval of a spot ETF would mean more traditional funds could legally and compliantly purchase ETH, driving its price up.　　To understand the outlook for

2024-07-09Deep Dive

This Week's Noteworthy Events(July 8, 2024-July 14, 2024)

SEC Requests Revisions on S-1 Form for ETH Spot ETF Issuers by July 8　　According to The Block, the SEC has returned the S-1 form to potential Ethereum spot ETF issuers with minor comments, asking for revisions to be resubmitted by July 8. This implies at least one more round of filing before the ETF can begin trading.　　Bloomberg analyst James Seyffart mentioned that Bitwise Invest has resubmitted a revised Ethereum ETF S-1 form and expects more issuers to do so this week. Analysts believe the Ethereum spot ETF product may list as early as late next week or the week of July 15.　　Another Bloomberg analyst, Eric Balchunas, commented, “No one really knows why the SEC is taking so long to process these forms. Given the few comments, trading should begin soon. But there might be some issue slowing the process, or its just people on summer vacation. All signs point to listing this month, with more details to come next week.”EOS Staking Program to Launch on July 8 with an Initial 250 Million EOS　　The EOS Network Foundation (ENF) announced on its official blog that, based on the new EOS tokenomics, the EOS staking program will launch on July 8, with an

2024-07-08Deep Dive

CertiK Security Report: $1.19 Billion Lost Due to Security Incidents in H1 2024

Certik, a Web3.0 security agency, has released its quarterly Web3 security report, “Hack3d: Q2 and H1 2024 Web3.0 Security Report.” The report states that in Q2 2024, there were 184 on-chain security incidents resulting in losses of $688 million, representing a 37% increase in losses compared to Q1 2024. The report also highlights that in H1 2024, there were 408 security incidents with total losses amounting to $1.19 billion.Q2 Security Incident Data　　Phishing and private key compromises were the main causes of asset losses in Q2. Out of the $688 million lost in 184 incidents, $99,328,507 was recovered from 7 separate incidents.　　Top 10 Projects by Loss Amount in Q2:　　1. DMM Bitcoin: $304,700,000　　2. BtcTurk: $90,000,000　　3. Phishing Victim (0x1e22): $68,597,540　　4. Lykke: $23,052,860　　5. Gala Token: $21,613,470　　6. Sonne Finance: $20,000,000　　7. UwULend: $19,700,000　　8. Rain: $14,277,950　　9. Phishing Victim (5Fmwfk): $11,522,660　　10. Phishing Victim (0x2154): $10,167,780H1 Security Incident Data　　Phishing and private key compromises were also the main causes of asset losses in H1 2024. Out of the $1.19 billion lost in 408 incidents, $177,728,142 was recovered from 17 separate incidents.　　Top 10 Projects by Loss Amount in H1:　　1. DMM Bitcoin: $304,700,000　　2. Chris Larsen: $112,500,000　　3. BtcTurk: $90,000,000　　4. Phishing Victim (0x1e22): $68,597,537　　5. Munchable: $63,000,000　　6. BitForex: $55,745,130　　7. Play Dapp: $32,350,000　　8. FixedFloat: $26,176,240　　9. Lykke:

2024-07-04Deep Dive

How MegaETH, Backed by Vitalik, Innovates in L2 Space

Since the announcement of the modular open-source frameworks Op Stack by Optimism and Arbitrum Stylus by Arbitrum, the development barriers for Layer2 and Layer3 have significantly lowered, leading to a surge in application projects building their own Layer2 solutions for high-frequency needs.　　Despite the proliferation of Layer2 solutions, it is rare to see a Layer2 project secure $20 million in seed funding from top-tier capital. MegaETH has done so, with a $20 million seed round led by Dragonfly and participation from Figment Capital, Robot Ventures, and Big Brain Holdings. Angel investors include Vitalik, Cobie, Joseph Lubin, Sreeram Kannan, and Kartik Talwar.Real-Time Blockchain　　Creating more chains doesnt inherently solve blockchain scalability issues. Current L1/L2 solutions face common challenges:Low transaction throughput on all EVM chainsLimited ability for complex applications to run on-chain due to scarce computational resourcesInfeasibility of applications requiring high update rates or fast feedback loops due to long block times　　MegaETH aims to address these issues by specializing nodes to achieve real-time settlement and processing. MegaETH claims to be the first “Real-Time Blockchain,” capable of handling over 100,000 transactions per second with sub-millisecond latency.Implementation Method　　MegaETH achieves real-time settlement and processing through node specialization, which reduces consensus overhead by separating transaction execution tasks from

2024-07-03Deep Dive

Tokens with High Unrealized Profits from VC Investments

In the current market, high FDV (Full Diluted Valuation) and low circulating supply token issuance, which started gaining popularity with the FTX exchange, has become mainstream and is favored by VCs. Despite rapid price increases driven by market fluctuations this year, such gains are clearly unsustainable.　　VCs hold substantial unrealized profits with high FDV and low circulation tokens. As these tokens unlock, they flood the market, driving prices down, while market cap remains stable or even increases. The influx of high-valuation tokens outpaces net inflow capital.　　According to a Binance Research report, approximately $155 billion worth of tokens is expected to be unlocked from 2024 to 2030. Without corresponding increases in buyer demand and capital flow, a large influx of tokens will cause sell pressure.　　Tokens with high FDV and low circulation are labeled as “dangerous” by the market.Importance of Tokenomics Design　　Contributors (including teams and early investors) typically receive a proportion of tokens as compensation, locked according to specific vesting schedules. While contributors deserve fair compensation as early developers, its crucial to balance the interests of all stakeholders, especially post-TGE (Token Generation Event) public market investors.　　The circulating ratio at TGE is critical. If too many tokens are locked, it affects liquidity, negatively impacting

2024-07-02Deep Dive

This Week's Noteworthy Events (July 1, 2024-July 7, 2024)

The ASI (AGIX+OCEAN+FET) token merger plan is set to begin on July 1st　　The Artificial Superintelligence Alliance has announced significant updates regarding the ASI token merger.　　Phase one starts on July 1, 2024, with AGIX and Ocean deposits and withdrawals closing across exchanges in preparation for migration. However, FET deposits, withdrawals, and trading will continue as usual. The migration platform from AGIX and OCEAN to FET will be available on the SingularityDAO DApp, allowing holders to convert their tokens to FET at specific rates.　　Phase two involves cross-chain deployment of ASI tokens, upgrading the FET network to the ASI network, opening migration contracts from FET, AGIX, and OCEAN to ASI, launching EVM and other bridges, and transitioning the trading platforms from FET to ASI spot markets.io.net: Ignition Rewards Programs third season begins July 1st　　io.net has announced that the claiming period for Seasons 1 and 2 of the Ignition Rewards Program will end on June 18, 2024, at 11:00 UTC. Users with eligible wallets must claim their rewards before the window closes. The claiming period for Season 3 will commence on July 1, 2024, at 13:00 UTC (21:00 Beijing time).ETHFI DAO announces a proposal for Season 3 and an airdrop, set to launch July

2024-07-01Deep Dive

Solana's Social Media Battle Begins: Will Blinks Drive Mass Adoption?

On June 25th, Solana released a new protocol called Blinks (Blockchain Links), which quickly gained support from over ten top protocols in the Solana ecosystem, including Tensor, Phantom, and Jupiter.　　Solana introduced Blinks as a way to connect Solana with the Web2 internet. Essentially, Blinks can generate links for any on-chain operation, allowing project teams or users to create their own Blinks and share them on social media. These links create interactive card-style interfaces that users can directly interact with using their wallets.　　Solanas founder, Toly, stated that Blinks can turn Web2 into Solanas L2 while ensuring economic security. This indicates Solanas strategy to leverage the massive traffic of social media platforms to shorten the path for Web2 users to enter Web3, promoting the transition of Web2 users to Web3. Implementation Path　　As mentioned, Blinks convert on-chain operations into links using a core technology stack called Actions. Actions is a protocol that creates and delivers Solana transactions via URLs, allowing Solana to be shared anywhere. Blinks is a client that detects Actions URLs and expands them into a full experience.　　The technology behind Actions and Blinks was developed in collaboration with Dialect. The team has already integrated Actions and Blinks directly into Twitter and

2024-06-28Deep Dive

Blast's First Airdrop Arrives: Why Are User Reviews Mixed?

Previously, ZKsync and LayerZero faced significant user dissatisfaction due to their airdrop rules. Yesterday, Blast initiated its airdrop and listed on multiple exchanges. Blasts high visibility on various monitoring platforms showcases its popularity. Compared to ZKsync and LayerZero, user reviews for Blasts airdrop are polarized.Airdrop Details　　Yesterday, Blast officially opened its airdrop claims and revealed its tokenomics. The total supply of BLAST is 100 billion, with 50% allocated for community airdrops. The first phase of the airdrop comprises 17% of the total supply.　　Airdrop Allocation:　　The first airdrop will distribute 17% of the total BLAST supply (17 billion tokens) among users. This 17% is broken down into:7% for Blast Points7% for Blast Gold Points3% for Blur Foundation　　For the top 0.1% of users (approximately 1000 addresses), airdrops will be linearly released over six months, contingent on meeting monthly points thresholds, encouraging continuous interaction.　　Additionally, the 3% allocated to the Blur Foundation will be distributed as follows:0.5% to Q3 traders, 0.5% to BLUR stakers0.5% to Q4 traders, 1% to BLUR stakers0.5% reserved for the Blur teamReasons for Mixed Reviews　　Blasts airdrop followed ZKsync and LayerZero, leading to higher market tolerance for its rules. The announcement of no sybil hunt for addresses further garnered support from “airdrop hunter

2024-06-27Deep Dive

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