Evening Must-Read | Layer2 attack on the city strategy pool, Ethereum’s king of public chains throne is more secure

Evening Must-Read | Layer2 attack on city strategy pool secures Ethereum's throne as king of public chains

1. Analysis of the Fastest Growing Stablecoin FDUSD

What is the fastest growing stablecoin? It’s not crvUSD or GHO, but FDUSD issued by First Digital Labs. In the past 7 days, the supply of FDUSD has grown by 91%, reaching a total supply of 265 million on the Ethereum network. Click to read more

2. Crypto+AI: The Narrative of the Next Bull Market

If there’s one thing I’ve learned from years of experience in the crypto market, it’s that this market is largely driven by narratives. I break it down from the smallest atomic unit to a larger macro perspective. Click to read more

3. A Summary of August Token Unlocking Information: Which Ones Are Worth Paying Attention To

There will be a total of 23 unlocking events in August this year. Among them, SAND, AVAX, APT, and other larger-scale unlockings are worth our attention. Click to read more

4. Bloomberg Analyst: Layer 2 Strategies Make Ethereum’s “King of Public Chains” Throne More Stable

Looking at the two-year cycle, Ethereum’s network activity has declined, and the Ethereum economy is expected to hit bottom in the fourth quarter of 2022 and recover at the same pace as the new bull market cycle. As expected, the rapid growth of L2 has eroded the network activity of L1, but its impact on network finances is not as significant as anticipated. Click to read more

• Eths and other inscriptions continue to trade at a premium, is Ethscriptions Summer coming soon?
• Ethena Labs Founder Stablecoins need to focus on liquidity rather than decentralization
• SEC’s Terraform ruling provides implications for handling the Coinbase case

5. Data Analysis: Was BTC’s Rise This Year Due to Binance’s $3.5 Billion Pump?

On March 8th, due to the collapse of Silvergate, Binance lacked a large-scale channel for deposits and withdrawals, so it began converting its USDC reserves into BTC and ETH. Between March 12th and May 1st, Binance purchased about 100,000 BTC and 550,000 ETH, totaling approximately $3.5 billion. Although it may seem fine on the surface, it becomes very interesting when we look at the BTC trend during this period. During this time, Binance purchased $3.4 billion worth of BTC and ETH. BTC rose from $22,000 on March 12th to $29,000 on May 1st. There are several questions involved here: Did Binance actively convert USDC to BTC/ETH? Was BTC’s rise this year influenced by Binance’s $3.5 billion pump? Click to read more

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