Transaction URL: https://etherscan.io/tx/0x49b45bb0a4aca92c0ed86273a0c4d7fd3e3df708410c154f6044a46be10589ad
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It’s still very much a bull market for Base. But that hasn’t exactly converted to major profits just yet.
The Ethereum layer-2 is setting new records for transaction counts and unique active addresses every other day — recording over four million transactions per day from more than one million unique addresses right now.
Both those metrics can be easily boosted by Sybil bots and whatnot, but in any case, volumes on Base DEXs Aerodrome and Uniswap are holding steady, while some others across other blockchains have fallen.
The blue line on the chart below shows the weekly transaction count for Base. The orange one plots the combined count for rival networks Arbitrum, Optimism and…
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“Someone needs to be the keeper and reiterator of the vision. There’s a ton of work to do. When you have to walk a thousand miles and have only taken the first step, it feels like a long way. It really helps if there is someone saying, ‘We are one step closer, and the goal is not a mirage.’” -Steve Jobs
Stacy Herbert, Director of the National Bitcoin Office (ONBTC) of the Office of the President of El Salvador, shared the above quote with me, while beaming with both pride and resolve, at the onset of my interview with her.
It’s clear that Herbert is on a mission, a mission that started in 2010 when she and her partner, Max Keiser, first discovered Bitcoin and became some of the…
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The US national debt has surged to $35.347 trillion as of September 9, 2024, experiencing a substantial increase of $1.357 trillion this year alone. Despite the growing dollar amount, the debt’s value in Bitcoin terms has intriguingly decreased, showcasing Bitcoin’s strength against the dollar. Initially equivalent to 761.325 million BTC at the year’s start, it now stands at 644.071 million BTC, even as the debt climbed in dollar terms.
This shift highlights Bitcoin’s significant appreciation, with the BTC/USD exchange rate moving from a peak of over $70,000 down to $56,800 recently. The volatile yet upward trajectory of Bitcoin against the US dollar suggests an increasing recognition of Bitcoin as a robust store of value amidst rising national debt figures.
Analysts observe that while dollar-denominated debt follows a consistent upward trend, the decreasing BTC equivalent underscores a broader shift in asset valuation preferences. This trend provides valuable insights for both investors and policymakers, reflecting a pivot towards digital assets in financial strategies and economic planning.
Ellipsis Labs has launched the private testnet for Atlas, a blockchain aiming to combine the high performance required by financial institutions with the transparency and security offered by DeFi.
Atlas is optimized for financial applications that require low transaction costs, high availability, fast pre-confirmations and frequent oracle updates, prerequisites for what the team calls “verifiable finance.”
The platform is expected to attract use cases like spot and programmable orderbooks, margin trading, orderbook-based lending and efficient credit markets, building upon the team’s experience as developers of the Phoenix DEX on Solana.
Phoenix, an orderbook-based spot exchange…
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Jeff Garzik, a veteran Linux contributor and early open-source developer who contributed to the Bitcoin project from 2010 to 2017, has released a series of new videos detailing his time working with Bitcoin’s anonymous inventor Satoshi Nakamoto.
Joining the project in July 2010, Garzik contributed to early software releases, entering notable pull requests including the first proposal to raise the block size limit, as well as the first proposal to eliminate subsidies for free transactions. Under Satoshi’s time as maintainer, Garzik had pull requests accepted, including for work separating the mining code from the Satoshi client.
Most notably, the new videos find Garzik sharing…
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Recent data highlights a massive $750 million Bitcoin withdrawal from exchanges on September 10, marking the largest single-day outflow since May. According to IntoTheBlock, this move reflects a growing investor confidence, with Bitcoin prices stabilizing around $57,000. Analyst Juan Pellicer suggests this trend points to an anticipated price increase, as assets shift from exchanges to more secure private storage.
The surge primarily involves institutional players, indicated by the substantial $2.95 billion transaction volume noted the previous day. This pattern, combined with increased moves to self-custody due to security concerns, underscores a strategic transition towards cold storage. Historically, such outflows have often preceded notable rises in Bitcoin prices, due to tightened supply and sustained demand.
Pellicer confirms this historical trend, highlighting a clear supply-demand dynamic. As Bitcoin moves off exchanges, reduced supply on trading platforms could naturally lead to price escalations, especially if demand remains constant or rises. This pattern was evident earlier in May when a significant outflow preceded a spike in Bitcoin’s price to $71,000 within a week.