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Share link:In this post: Solana’s daily economic activity surged to an all-time high of $7.9 million on October 22nd. A chart from Blockworks reveals that the network’s real economic activity has exponentially increased since the end of September. Most of the activity comes from tips (Jito) and priority fees, while base fees and vote fees account for the smallest share of the economic activities.
Share link:In this post: The blob competition lasted for a short time, and it may be due to the Scroll airdrop event. L2s may change their behavior and their usage of Ethereum if blobs become too expensive. The event briefly raised L1 rent for the most active chains, with the biggest increase for Scroll and Base.
Bernstein analysts predict bitcoin will reach $200,000 by the end of 2025, calling the forecast “conservative.”
Share link:In this post: JPMorgan economist Haibin Zhu thinks China’s latest economic measures won’t provide the big stimulus needed to revive the slowing $18 trillion economy. Investors and analysts are skeptical, as Beijing’s focus remains on manufacturing and exports instead of boosting domestic demand. China’s property sector is still struggling, with house prices falling and weak government measures failing to make an impact.
- 08:26Ethereum Foundation Researcher: The BeamSNARKs algorithm will help Ethereum transition to the 3.0 era by accelerating ZKP for BeamChainOn November 29, Ethereum Foundation researcher Justin Drake published a paper revealing details about the BeamSNARKs algorithm. BeamSNARKs is an enhanced ZK (Zero-Knowledge) algorithm that allows the prover to demonstrate the truth of their claims to the verifier without exposing underlying data or requiring interaction. For Ethereum, Moonchain's implementation of BeamSNARKs represents a transformative development in two key areas: privacy and scalability. In terms of privacy, BeamSNARKs enables transaction or computation verification without exposing sensitive data, thereby supporting confidential transactions and private smart contracts among other use cases. It is reported that Beam Chain is an indispensable consensus layer improvement for the era of Ethereum 3.0. This was part of a proposal by Justin Drake at DevCon to redesign Ethereum. It is expected that it will take several years for Ethereum to fully transition from PoS (Proof-of-Stake) era to ZK era, at which point Ethereum itself will have full ZK capabilities.
- 08:19The month Trump won the election, the financial market flourished1. In November, spot gold may record its largest monthly decline in over a year after Trump's victory in the U.S. election, with prices having already fallen about 3% so far this month.2. In November, Bitcoin surged by 37%, nearing the $100,000 mark; Bitcoin ETFs are expected to set a record for monthly fund inflows and have attracted $6.2 billion so far this month. The last time such an increase and inflow of $6 billion occurred was in February when funds poured into newly listed Bitcoin ETFs.3. In November, the Nasdaq 100 Index is poised to post its biggest monthly gain since June due to Tesla's surge of 33% and continued AI hype boosting Nvidia despite anticipated slowdown in revenue growth.4. The yen rose to a six-week high on Friday as data showed inflation rates in Tokyo were higher than expected, supporting bets on Bank of Japan raising interest rates next month. It is expected to rise about 3% this week which would be the largest weekly increase since late July.5. This week the dollar index is expected to fall by 1.5%, potentially marking its biggest weekly drop since mid-August and closing down for the second week out of nine; it has risen approximately 1.7% this month.6.In November, influenced by US tariff risks, political turmoil in Germany and France as well as regional economic downturns,the euro against USD could register its largest monthly decline since early-2022 slightly above 3%. Additionally Mexican peso fell more than 1% against USD while pound sterling dropped nearly two percent.7.In November driven by hopes that Trump administration will relax regulations ,the US bank stock index has soared up by13%, recording best single-month performance over past year.However European bank stocks fell five percent due to weak economy increasing bets on rate cuts8.In November there wasn't much change in the yield of US 10-year Treasury bonds, but it was trending upwards. The yield on German 10-year bonds fell more than 20BP and is set to record its largest monthly decline since 2024 due to weak economic activity, Trump's tariff threats and escalating Russia-Ukraine conflict. Japan's 10-year bond yields are set for their biggest monthly increase since May partly because yen weakened after Trump's election victory which stimulated speculation about a rate hike next month.
- 08:12Switzerland's Bern state explores using Bitcoin mining to absorb surplus electricity and stabilize the power gridAccording to Decrypt, the Swiss canton of Bern's parliament passed a proposal with 85 votes in favor and 46 against, to explore using Bitcoin mining to absorb excess electricity and stabilize the power grid. The proposal was put forward by a cross-party Bitcoin parliamentary group on March 14, 2024, and was approved despite government opposition. The proposal requires the government to submit reports on three key aspects: identifying unused energy areas in Bern, assessing the feasibility of cooperating with Swiss mining companies for Bitcoin mining, and analyzing its potential to stabilize the power grid during periods of electricity supply fluctuations.