[Comparative to Zaobao] Ethereum 2.0 will undergo the first hard fork upgrade to HF1; Uniswap will become the first decentralized exchange with a cumulative transaction volume of more than 100 billion US dollars; a total of 175 million US dollars will flow into Ethereum-related investment products last week

Blockchain news you need to know every morning:

[Ethereum 2.0 will upgrade HF1 with its first hard fork]

Vitalik Buterin, one of the co-founders of Ethereum, announced plans for the first hard fork of the new Ethereum 2.0 beacon chain on Monday. The hard fork, tentatively named HF1, will allow developers to make several key upgrades to the beacon chain, aimed at general testing before introducing deeper changes. The biggest actual change in this hard fork is support for lightweight clients, which have extremely low resource requirements and can run on mobile devices. This will allow support for “trust-minimized wallets,” which can validate the blockchain themselves rather than rely on external service providers.

[Uniswap became the first decentralized exchange with a cumulative transaction volume of more than 100 billion US dollars]

Decentralized exchange Uniswap reached a major milestone on Monday, with a cumulative transaction volume exceeding $100 billion. Uniswap CEO Hayden Adams tweeted today that Uniswap became the first decentralized exchange to process over $100 billion in transactions. According to Dune Analytics data, as of February 15, Uniswap's cumulative transaction volume was US$101.5 billion.

[A total of 175 million US dollars flowed into Ethereum-related investment products last week]

As the price of Ethereum, the second-largest cryptocurrency by market capitalization, rises, more and more capital flows into Ethereum-related investment products. Meltem Demirors, chief strategist at investment firm CoinShares, said in an interview with Fox Business News that institutional investors are entering the Ethereum market violently. According to Demirors, CoinShares tracks the total amount of institutional capital flowing into Ethereum from some crypto companies and investment vehicles. He mentioned, “At CoinShares, we have a total of $4 billion in assets under management, mostly Bitcoin. We tracked the flow of funds allocated by investors to publicly listed investment instruments on a weekly basis. Of the capital inflows last week, 80% went to Ethereum investment products, about US$175 million. We have never seen such institutional interest.”

[Crypto market falls, Bitcoin regains strong support level of $48,000]

Over the past 24 hours, the crypto market has fluctuated. The main cryptocurrencies showed a V-shaped trend. Bitcoin recovered the support level of 48,000 US dollars after falling below 46,000 US dollars, Ethereum rebounded above 1,800 US dollars, and BTG, the hard fork of the Bitcoin blockchain, ranked first with an increase of about 22%. The current total market capitalization of the cryptocurrency market is $1,511,727,155,684, and the 24-hour trading volume is $341,717,206,663. Bitcoin accounts for 59.75% of the market. In the past 24 hours, 5 of the top 20 cryptocurrencies by market capitalization have risen, and 34 of the top 100 cryptocurrencies by market capitalization have risen. The overall cryptocurrency market is in a downward trend. The top 3 gainers were Bitcoin Gold (21.29%), DigiByte (20.47%), and Kusama (20.34%). The top 3 declines were: Carboncoin (-23.58%), Creditcoin (-12.07%), and Reserve Rights (-10.85%).

[Pantera Capital CIO: DeFi is the future of finance]

Joey Krug, co-chief investment officer of blockchain-focused investment firm Pantera Capital, said in the latest monthly newsletter that he is “99.9% convinced that DeFi is the future of finance.” In his article, he talked about the blockbuster GameStop events on Wall Street over the past few weeks and explained how the various problems will be overcome by decentralized finance (DeFi). He said, “The great thing about DeFi is that it is global, the fees are relatively low (once Ethereum is successfully expanded), there are few intermediaries, and it is transparent and fair to everyone. Transactions are settlement. It got rid of rigged systems and replaced it with shared public infrastructure that cannot be manipulated. No broker can increase collateral requirements because there are no brokers.”

[US SEC Member Hester Peirce: Clear Crypto Regulatory Rules Are Imminent]

US Securities and Exchange Commission (SEC) commissioner Hester Peirce believes that as institutions make major inroads into the crypto sector, clear crypto regulation rules are imminent. According to Reuters, she believes that as companies like Tesla and Mastercard actively embrace the cryptocurrency asset class, clear cryptocurrency rules are needed now more than ever. Peirce also shared her views on last month's GameStop stock incident. She said that it is still too early for regulators to draw policy-decisive conclusions from this incident, but she supports a new generation of traders participating in the market.

[Musk supports large Dogecoin owners to sell tokens and will develop ElonCoin “when necessary”]

Elon Musk, founder of automaker Tesla, mentioned Dogecoin again on Monday. He also said in response to netizens that he would launch his personal token ElonCoin “when necessary.” Musk believes that the current distribution of Dogecoin is too concentrated, so he said he is willing to support the current Dogecoin giants to sell their tokens. He tweeted, “If Dogecoin's major holders are willing to sell most of their tokens, I'll fully support them. Too much concentration is the only problem with Dogecoin, in my opinion.” His tweet once sparked fears about a sell-off in the market. According to comparative data, Dogecoin once fell from $0.063 to below $0.05 on Monday, but then rebounded slightly.

Author Amy Liu

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