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Ethereum core contributor reveals the inside story of Tomasz's resignation: Long-standing power struggles within the Ethereum Foundation

Ethereum consensus layer core contributor Greg posted on the X platform revealing the insider details of the resignation of Ethereum Foundation Executive Director Tomasz Stańczak. He expressed that he was not surprised by this event, as there has long been power struggles within the Ethereum Foundation. The organizational inertia of "this is how the Ethereum Foundation operates" makes reforms difficult to implement. Over the past year, core figure Vitalik Buterin has been mostly absent, leading to issues such as resource inefficiency and project stagnation within the foundation.The internal reforms initially promoted by Tomasz Stańczak were not widely accepted, which may have led to his departure. In fact, he has extensive industry experience, including backgrounds in Nethermind, Flashbots, and venture capital. Although potential conflicts of interest were disclosed in advance, some community members still have doubts about this.Additionally, Tomasz Stańczak sincerely hopes to return to technical development, but he is likely to encounter resistance in the reform process at the Ethereum Foundation, which may force him to leave. In the future, it will be necessary to introduce leaders with real business experience and decision-making power to drive the organization’s effective operation.

Kyle predicts that Solana's progress will surpass any period in history, becoming the on-chain cornerstone for complex financial applications

Former Multicoin co-founder Kyle Samani predicts that in the next 18 months, advancements in the microstructure of the Solana on-chain market will surpass any other period in cryptocurrency history. Notable expectations include:Alpenglow: A major upcoming consensus mechanism upgrade for Solana, representing one of the largest protocol-level changes in Solana's history.ACE (Application Controlled Execution): Application controlled execution is a key innovation in Solana's core roadmap.MCL (Multi-Concurrent Block Production): Future upgrades for Solana will allow multiple leaders to propose blocks simultaneously, significantly increasing throughput and reducing latency, while improving transaction inclusion times and censorship resistance.PropAMMs (Proprietary Automated Market Makers): Deployed privately by professional market makers/institutions, using real-time price oracles to update quotes and actively manage liquidity, typically not accepting permissionless deposits.Aggregators: Aggregators like Jupiter and Dflow aggregate liquidity from multiple DEXs, AMMs, PropAMMs, etc., to find the optimal execution path for users, providing the lowest slippage and best prices.Conditional liquidity: Prevents market makers from being front-run, allowing them to offer tighter spreads, ultimately resulting in better trade prices and deeper liquidity.Overall improvements to SVM and the scheduler: Including optimizations for compute units, asynchronous program execution (APE), scheduling algorithm upgrades, etc., making programs run faster, more resource-efficient, and supporting higher concurrency.

Benson Sun: Bitcoin's decline reached a rare -5.65σ, occurring only 4 times in history

Cryptocurrency KOL and former FTX community partner Benson Sun posted that Bitcoin experienced an extreme drop this morning. Calculating with a 200-day lookback period, BTC's decline reached -5.65 standard deviations (σ). The Six Sigma standard in manufacturing allows for only 3.4 defects per million occurrences, which defines "almost impossible" in human industrial civilization. Yesterday's BTC volatility was just 0.35 standard deviations away from this "industrial-grade impossibility."A -5.65σ occurrence has a theoretical probability of about one in ten million under normal distribution. Despite the fat tail effect in financial markets, this level of volatility has only occurred 4 times since BTC began trading in July 2010, accounting for about 0.07% of all trading days. Even during the deep bear phases of 2018 and 2022, such a rapid decline had not occurred within a rolling 200-day period. This poses a severe challenge to quantitative strategies.Currently, most quantitative models are built on data after 2015, and historical samples exceeding 5.65σ, apart from the anomalous "312" flash crash in 2020, occurred before 2015, leaving almost no reference precedent.CoinKarma's quantitative strategy has shown a paper loss in this round of market conditions, but due to maintaining low leverage (about 1.4 times) over the long term, it remains manageable, with a maximum drawdown of about 30%. While extreme market conditions are an expensive "tuition," contracts and on-chain data will become important nutrients for future risk control models.

Data: Aave becomes the first DeFi lending protocol in history to surpass a 50% market share, with a current TVL of $3.583 billion

According to DefiLlama data, Aave's share in the DeFi lending market has surpassed 51.3%, marking the first time since 2020 that a single protocol's usage rate has exceeded 50%.The top 10 lending protocols by TVL ranking are as follows: Aave currently has a DeFi lending TVL of approximately $3.583 billion, accounting for about 51.3% market share; Morpho currently has a DeFi lending TVL of approximately $686.1 million, accounting for about 9.8% market share; JustLend currently has a DeFi lending TVL of approximately $401.5 million, accounting for about 5.8% market share; SparkLend currently has a DeFi lending TVL of approximately $381.1 million, accounting for about 5.5% market share; Maple currently has a DeFi lending TVL of approximately $272.4 million, accounting for about 3.9% market share; Kamino Lend currently has a DeFi lending TVL of approximately $240.2 million, accounting for about 3.4% market share; Compound Finance currently has a DeFi lending TVL of approximately $205.1 million, accounting for about 2.9% market share; Venus currently has a DeFi lending TVL of approximately $179.9 million, accounting for about 2.6% market share; Fluid Lending currently has a DeFi lending TVL of approximately $154.5 million, accounting for about 2.2% market share; Jupiter Lend currently has a DeFi lending TVL of approximately $113.1 million, accounting for about 1.6% market share.
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