Perspectives Article: How Long Will Grayscale Keep Selling? Can Ethereum Keep Dancing?
Last week, we mentioned that Grayscale has been continuously selling its Bitcoin holdings since the ETF was approved. However, the amount being sold has decreased. From selling $500-600 million per day, it has now dropped to only $187 million as of January 31st. Meanwhile, Bitcoin has risen by 5.48% this week, and the overall net inflow of funds into ETFs has turned from a loss to a gain. Fidelity Investments and BlackRock have seen the highest net inflow. Perhaps we can expect the strong selling pressure to have come to an end.
Currently, the ETH/BTC exchange rate has been continuously declining, with Bitcoin outperforming Ethereum in recent times. Apart from the delayed Constantinople upgrade (which is also limited to Layer 2), what other stories can be told about Ethereum?
One of the hottest concepts recently is Restaking, which allows Ethereum to stack beds and increase the utilization of funds.
How crazy is it? The locked volume of the Eigenlayer protocol alone has reached 2 billion, ranking 11th overall, and it has only officially allowed staking for less than two months.
Currently, it seems that regardless of the price performance, Eigenlayer’s Total Value Locked (TVL) will continue to grow. Clearly, the market is still very bullish on this model, and Ethereum has once again become a gold rush.
Industry News Highlights of the Week:
FTX Loses Money! But Won’t Restart
The bankrupt cryptocurrency exchange, FTX, plans to fully compensate its cryptocurrency customers in the bankruptcy liquidation. Furthermore, FTX’s lawyers have stated that due to the lack of buyers, FTX will give up on the plan to restart the cryptocurrency exchange.
Solana’s Trading Aggregator, Jupiter, Distributes Airdrops
According to CoinGecko data, within 24 hours of airdrop distribution, Jupiter has generated a trading volume of approximately $1.313 billion, accounting for 26.6% of the total DEX market trading volume, surpassing even Uniswap.
Federal Reserve Maintains Interest Rates
The Federal Reserve has announced its first interest rate decision for 2024, keeping the benchmark rate unchanged at 5.25%-5.50%, in line with market expectations.
Perspectives Article: The views presented are diverse and do not represent the stance of “WEB3+”.
Proofreading Editor: Gao Jingyuan
