Headlines
▌UXD: Will Sell All Cryptocurrency Assets Except Stablecoins and Invest in USDC and US Treasury Bonds
LianGuai reports that the algorithmic stablecoin protocol UXD Protocol announced on social media that a proposal to restrict the insurance fund to low-risk assets such as USDC, tokenized US Treasury bonds, and UXD/USDCLP tokens has been approved. The team will sell all cryptocurrency assets (excluding stablecoins) and invest in USDC and US Treasury bonds. LianGuai previously reported that the algorithmic stablecoin protocol UXD Protocol released a governance proposal to restrict the insurance fund to low-risk assets such as USDC, tokenized US Treasury bonds, and UXD/USDCLP tokens.
▌Vitalik: Concerned about Potential Risks Faced by Node Operators Due to Governance of Liquidity Staking Pools Using DAO Method
LianGuai reports that Vitalik Buterin, co-founder of Ethereum, expressed concerns about the selection of node operators for decentralized autonomous organizations (DAOs) monopolizing liquidity staking pool. In a blog post, Buterin warned that the governance of node operators (who are ultimately responsible for the funds in the pool) using the DAO method may expose them to potential risks from malicious actors. Buterin stated that through the DAO method, if such a staking token dominates, it would result in a single, potentially vulnerable governance tool controlling a significant portion of Ethereum validators. Buterin emphasized that one possible solution to this problem is to promote and encourage ecosystem participants to utilize various liquidity staking providers. This would reduce the possibility of any one provider becoming too large and posing systemic risks.
- Weekly preview | Multiple Ethereum futures ETFs will be launched in the United States; Sui (SUI) will unlock approximately 34.62 million tokens worth over $16 million.
- LianGuai Daily | Bitwise launches two Ethereum futures ETFs; Brazil launches digital identity card based on private blockchain
- Exploring the Rise of Telegram Bots A New Era of Cryptocurrency Interaction
▌After Su Zhu’s Arrest, Open Exchange Token (OX) Market Cap Drops Over 30 Million USD
LianGuai reports that the arrest of Su Zhu, co-founder of Open Exchange (OPNX), in Singapore has caused a sharp drop in the value of the exchange’s OX token. According to Alphanomics, news of Zhu’s arrest prompted the selling off of OX tokens worth around 1 million USD. The sudden wave of selling, coupled with the negative sentiment surrounding the arrest, caused OX to plummet to a historical low of around 0.01 USD. Although it has rebounded slightly to 0.01462 USD, the value of the token has still dropped by over 80% from its all-time high. Additionally, the sharp decline in token value resulted in a market cap decrease of over 30 million USD. At the time of writing, its market cap is approximately 57 million USD.
Market Updates
According to coinmarketcap data as of the time of writing:
BTC recent trading price is 25,946.8 USD, with a daily change of +0.73%;
ETH recent trading price is $1591.95, with a daily change of +0.93%;
BNB recent trading price is $211.4, with a daily change of +1.15%;
XRP recent trading price is $0.47802, with a daily change of +1.34%;
DOGE recent trading price is $0.061133, with a daily change of +0.46%;
ADA recent trading price is $0.2469, with a daily change of +0.61%;
SOL recent trading price is $18.2, with a daily change of +1.35%.
Policy
▌Hong Kong Police: Accumulated frozen funds in the JPEX case close to HKD 100 million
LianGuai reports that according to Assistant Commissioner of Police (Crime) Chung Wing Man of the Hong Kong Police Force, Hong Kong and Macau jointly conducted an operation from Tuesday to Thursday (September 26th to 28th), during which they recovered and froze approximately HKD 24 million in assets. The total amount of frozen assets is close to HKD 100 million. The investigation has gradually entered the core part of the JPEX fraud network and has identified more central figures. The police will continue to find the mastermind behind the scenes and track down the stolen money. (Sing Tao Daily)
▌Hong Kong Police: Key figures of the JPEX case have been identified and some individuals who have left Hong Kong will be arrested through international cooperation mechanisms
LianGuai reports that according to the latest progress report from the Hong Kong Police on the JPEX case investigation, the investigation has gradually entered the core part of the JPEX fraud network and has identified more central figures. The police will continue to find the mastermind behind the scenes and track down the stolen money. However, it is still uncertain whether the mastermind is an individual or a group of people. The police can only disclose that the target individuals have been identified. However, some individuals have left Hong Kong, and the police will arrest them through international cooperation mechanisms. Senior Superintendent of the Cyber Security and Technology Crime Bureau of the Hong Kong Police, Cheng Lai Ki, stated that due to the criminal group destroying a large number of documents and data and the involvement of “thousands” of electronic wallets, coupled with the transfer of related cryptocurrencies to multiple electronic wallets and different overseas cryptocurrency trading platforms within a short period of time, the investigation faces certain difficulties. (Sing Tao Daily)
Blockchain Applications
▌The first nuclear Bitcoin mining facility in the United States uses 91% zero-carbon energy
LianGuai reports that according to a post by Bitcoin Archive on social media, the first nuclear-powered Bitcoin mining facility in the United States uses 91% zero-carbon energy.
▌Joint statement of the third China-Germany High-Level Financial Dialogue: Agreement to enhance exchanges in the field of digital finance, including the development of CBDC
LianGuai News, the joint statement of the third China-Germany high-level financial dialogue: both sides agree to strengthen exchanges in the digital finance field on topics such as the development of central bank digital currencies.
Cryptocurrency
▌A total of three transactions totaling 10 billion XRP unlocked from Ripple’s custody
LianGuai News, according to Whale Alert monitoring, within the past 30 minutes, a total of 10 billion XRP (worth over 500 million USD) has been unlocked from Ripple’s custody in three transactions.
▌In September, the sales volume of NFTs on Ethereum was approximately 140 million USD, the lowest record since February 2021
On October 1st, according to Cryptoslam data, the sales volume of NFTs on Ethereum in September was approximately 141,414,491.74 USD, the lowest record since February 2021. The data also shows that the total transaction volume of NFTs sold on Ethereum in September was about 756,000 (including 115,561 unique buyers and 98,751 unique sellers), the lowest record since August 2021.
▌Five market makers on Worldcoin hold approximately 35.72 million WLD tokens on the chain
LianGuai News, according to on-chain analyst Yu Jin’s monitoring data, when Worldcoin (WLD) went live in July, it lent a total of 100 million WLD tokens to five market makers for liquidity provision. It was stipulated that when the three-month period expired, the market makers would need to return the tokens or buy them at a price ranging from 2 USD to 3.12 USD. The three-month period (October 22nd) is less than a month away, but the recent on-chain activities and WLD holdings of these five market makers are as follows: Wintermute recently withdrew 1.93 million WLD tokens from Binance addresses in the past half month; after Amber Group transferred 19.5 million WLD tokens to various CEXs in July, there have been no recent operations to withdraw WLD tokens from CEXs; Flow Traders recently withdrew 2.45 million WLD tokens from multiple CEX addresses in the past half month; after Auros Global transferred 11.5 million WLD tokens to various CEXs in July, there have been no recent operations to withdraw WLD tokens from CEXs; GSR Markets recently withdrew 4.01 million WLD tokens from multiple CEX addresses in the past month.
▌Genesis is considering launching a new proposal that may allow asset distribution within Genesis Estate
LianGuai News, cryptocurrency exchange Gemini released the latest news about its relationship with Genesis, a subsidiary of Digital Currency Group (DCG). Gemini stated that as early as August, the company reached a “principle agreement” with DCG and the Unsecured Creditors Committee (UCC) regarding DCG’s investment in Genesis assets. The company stated that this agreement did not receive full support from the broader industry in principle, as experts believed that the agreement was not sufficient. As this transaction was marked as a “dead end” from the beginning, creditors are now pressuring DCG to launch a plan to help Genesis repay its debts as much as possible. Gemini stated that due to the current pressure from creditors, DCG has not yet accepted the revised terms, which will expire on October 6th. Looking ahead, the cryptocurrency exchange stated that Genesis is considering launching a new proposal that will bring more investment from DCG or allow for the distribution of assets within Genesis Estate, and it will allow creditors to recover the remaining deficit through lawsuits against DCG.
▌10KSwap: LP issue has been fixed, data can be displayed normally
On October 2nd, 10KSwap announced on X platform that the LP issue has been fixed and the data can be displayed normally. The previous data loss issue was caused by faults in certain APIs. Previously reported by LianGuai, according to feedback from a community user, 10KSwap, a DEX on Starknet, had a problem where LP could not be displayed and users were unable to retrieve LP.
▌NFT sales have declined for the sixth consecutive week, down 9.91% compared to the previous week
According to LianGuai, despite the recent rise in the crypto market, NFT sales have declined for the sixth consecutive week. The NFT sales this week amounted to $72.76 million, a decrease of 9.91% compared to the previous week. However, the number of NFT buyers increased by 17.77% to reach 569,407. In the past week, the number of NFT sellers also increased by 15.82% to reach 714,889. In cross-chain NFT sales, Ethereum ranked first with sales of $37.27 million, accounting for 51.22% of NFT transactions this week. Despite being in the lead, Ethereum-based NFT sales have slightly declined by 1.16% compared to the previous week. Mythos ranked second in terms of NFT sales, with sales reaching $7.83 million, a sharp increase of 13.12% since last week. Polygon ranked third this week in NFT sales with sales of $7.12 million. Solana ranked fourth with $5.86 million, and Immutable X ranked fifth with sales of $5.47 million. In addition, this week’s top NFT series was dominated by Mythos’ Dmarket, with sales of $7.76 million. Following closely behind was Immutable X’s compilation “Gods Unchained,” ranking second with revenue of up to $5.22 million.
Important Economic News
▌The U.S. Senate passed a short-term spending bill to avoid a government shutdown
According to LianGuai, the U.S. Senate has enough votes to pass a bill to avoid a government shutdown, and voting is still ongoing. The U.S. Senate has passed a short-term spending bill to avoid a government shutdown and it will be sent to Biden for signing.
▌Biden signs short-term spending bill to avoid a U.S. government shutdown
According to LianGuai, the U.S. White House: Biden has signed a short-term spending bill to avoid a U.S. government shutdown.
LianGuai Encyclopedia
▌Fork
Refers to the situation where two blocks pointing to the same parent block are generated simultaneously, with some miners seeing one block and other miners seeing the other block. This results in two blockchains growing simultaneously. Typically, as miners on one chain get lucky and that chain grows, all miners will switch to that chain, and the fork will mathematically resolve itself within about four blocks.
Disclaimer: LianGuai, as a blockchain information platform, publishes articles that are for informational reference only and should not be considered as actual investment advice. Please establish the correct investment concept and be sure to increase risk awareness.
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