Author | Qin Xiaofeng

Produced | Odaily

Produced | Odaily

1. Overall overview

1. Overall overview

Second, the secondary market

Second, the secondary market

1. Spot market

image description

(ETH daily chart, picture from OKEx)

The ETH daily chart shows that the price is supported by the 30-day moving average and is climbing along the upper line; the resistance is the $2,000 mark and the previous high of $2,041; the support is the 30-day moving average ($1,710) and the 60-day moving average ($1,580) ); In the coming week, ETH is expected to remain volatile.

2. Fund flow                                                                 

2. Fund flow

(data from Tokenview)                                       

(data from Tokenview)

Tokenview dataIt shows that the number of transfers on the chain decreased slightly last week, and the number of large-value transfers of "above 5,000 ETH" and "above 10,000 ETH" decreased by 6% and 1% month-on-month respectively; The frequency of giant whale account transactions has dropped significantly.

OKlink data1. Technological progress

3. Ecology and technology

1. Technological progress

（1）EthereumEthereum

Core developers are developing the minimum technical specifications for ETH2.0 mergers

On the Eth2 developer conference call on March 11, Danny Ryan, a researcher and developer at the Ethereum Foundation, said that he and Mikhail Kalinin of Teku, an Ethereum 2.0 client, are exploring creating a deliverable that preserves some functionality for for later use. Mikhail Kalinin proposed an "executable beacon chain" (proposed at the end of November 2020) that would simplify the complexity of the original design. Kalinin has posted a pull request on GitHub to involve developers in implementing the proposal.

At the same time, Vitalik hopes to speed up the process of merging Eth1 and Eth2. In this regard, Ryan said that there will be a public conference call with project stakeholders in the next two weeks to discuss resource allocation. In addition, Danny Ryan stated that he is working with Mikhail Kalinin on technical specifications to create a minimal merger. Ryan cautioned that this may give up some mainnet features, such as validator withdrawals. When releasing a major feature, it's a good idea to consider at least the simplest version of the upgrade, and from there to identify potential paths to enhance performance. Simplification makes network transport faster and safer. (Decrypt)

(2) The Ethereum client Geth 1.10.1 officially launched the Berlin hard fork upgrade, and the main network will be upgraded on April 14

The official Ethereum blog suggested that for the testnet, it should be upgraded to the Berlin-compatible version as soon as possible, and for the mainnet, it should be upgraded to the Berlin-compatible version before April 7. Ethereum node operators should upgrade their nodes before the hard fork blocks of the network they want to participate in. Due to the variability of block times, it is recommended to update a few days before the expected date.

2. Voice of the Community

2. Voice of the Community

(1) Ethereum miners put forward a proposal EIP-3368 for EIP-1559, intending to increase the current block reward from 2 ETH to 3 ETH

Miners put forward the proposal EIP-3368 for EIP-1559, which proposes to increase the current block reward of the Ethereum network from 2 ETH to 3 ETH, and reduce it slightly every block until 8,000,000 blocks (about 2 years) Reduced to 1 ETH reward per block.

Ethereum developer Tim Beiko said that the EIP is not currently accepted or is planned for a fork. Proposals at the moment, and seem to be the most concrete content in miner conversations over the past few weeks. The idea of ​​this proposal is to implement this EIP-3368 together with EIP-1559.

(2) Ethereum core developer eric.eth considers creating an EIP to reduce block rewards from 2 ETH to 1 ETH

It is reported that eric.eth analyzed in EIP-1234 that block rewards and transaction fees paid to miners are to ensure the security of the network. Comparing the BTC and ETH networks, converting both block rewards and transaction fees to USD and comparing them across time, the two are very close, and sometimes ETH actually pays miners more in fees than BTC. Therefore, it is difficult to compare network security and financial costs from different blockchains. So use market capitalization as a metric to analyze whether the network is overpaying miners. ETH market cap gold is 34% of BTC market cap, so payouts to miners are excessive (ETH and BTC miners get similar rewards in USD, but ETH market cap is low) and justify reducing block rewards.

3. Project trends

3. Project trends

(1) A new generation of Layer 2 switching protocol Talon Network released a technical white paper

On March 8, Talon Network officially released the technical white paper and Roadmap. Talon officially stated that as a new generation of Ethereum Layer 2 network, the bottom layer will adopt a modular structure in the future, and the underlying technology framework and strong technical partners have been determined to be adopted. It adopts a very flexible design at the product level, and the future will be very fast. Easily support other application modules, and each module can become an independent application running on the blockchain network. For example, applications such as AMM modules that support stable currency exchange, lending modules, and synthetic assets can be added by adding a microservice module Integrate into Talon Network. And Talon Network does not depend on EVM. Its programmability needs to follow the communication standard between modules. A module needs to be integrated into the main network through a protocol upgrade.

(2) The Alpha Homra liquidity mining plan on Ethereum will be extended until April 11Recently, Alpha Finance officially announced that the liquidity mining plan of Alpha Homora V1 and V2 on Ethereum will continue. The existing liquidity mining plan will end at 8:00 pm on March 12th, and the plan will be extended for another 30 days at that time, that is, the extension

It will end at 8:00 pm on April 11th, Beijing time.

(3) Whale Exchange cross-chain DEFI protocol IFSWAP will be migrated to Ethereum Layer2

According to the official announcement, the decentralized exchange Whale Exchange and the cross-chain DEFI protocol IFSWAP announced that they will migrate millions of users from EOS to Ethereum Layer 2. The migration will be completed in the third quarter of 2021 and no new tokens will be issued. Tokens deposit value on WAL and IFC.

The Ethereum privacy trading platform Tornado.Cash has added an on-chain deposit backup function, making it easier for users to manage deposited funds more securely. In previous versions, users had to manually back up and locally store their private random key notes (notes) in order to access their own deposits of tokens or Ethereum. Now Tornado.Cash has implemented on-chain encrypted backup of private notes. Users will now be prompted to encrypt notes with a "Note Account" and store them directly on the Ethereum blockchain. In addition, users can still use the local storage function.

4. Borrowing

Defipulse4. Borrowing

5. Mining

5. Mining

image description

etherchain.orgThe data shows that the average computing power increased by 2% month-on-month, temporarily reported at 439.5TH/s; the average mining difficulty increased by 0.7% month-on-month, reaching 5600 T; the activity on the chain rose by 4.5% month-on-month; network congestion continued to intensify, and the total mining revenue The chain rose 8.3%.

4. News

4. News

(1) Chip giant AMD may launch a graphics card for Ethereum mining

Rumor has it that chip giant AMD may launch a graphics card for Ethereum mining. According to a report from PC Gamer published on March 8, the Navi 12 GPU previously launched exclusively for Apple’s MacBook Pro may be repurposed to mine Ethereum. The newer version of this graphics card has no video output, which means it is not suitable for gaming, making Ethereum mining its only possible purpose. Previously, it was reported in February that NVIDIA has launched the Ethereum mining product NVIDIA CMP. (U. today)

(2) ETC Group will launch Ethereum ETP on Deutsche Börse

On March 9, ETC Group launched Ethereum ETP on Deutsche Börse, whose code is ZETH. This is the second cryptocurrency investment product launched by ETC Group after Bitcoin ETP. Previously, ETC Group launched its Bitcoin ETP in June 2020. (Decrypt)

(3) ETH miners plan to launch a 51-hour computing power transfer campaign against the implementation of EIP-1559