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Bitcoin long liquidations have spiked above $30 million in the past 24 hours.Bitcoin’s price has dipped over 3% during this time, currently trading at $62,300.
Bitcoin may be preparing for trend continuation, but on short timeframes, BTC price behavior is inspiring no one.
The total crypto market cap has lost almost $100 billion daily and $150 billion since Monday.
While every other spot bitcoin ETF had inflows or no flows, GBTC’s significant outflows overpowered the market.
Quick Take Vitalik Buterin and co-authors proposed EIP-7702 as an alternative to EIP-3074 to refine Ethereum’s account abstraction. It lets EOAs temporarily act as smart contract wallets during a transaction and revert to their original state afterward.
A 3% rebound in Ether’s price would wipe $345 million in short positions amid Grayscale withdrawing its Ether futures ETF application.
Creditors with claims below $50,000 will receive a 118% compensation, according to FTX’s new compensation plan. The plan is still subject to court approval.
- 12:15Data: Over 30% of Ethereum validators indicate support for increasing the block Gas limitData compiled by Ethereum Foundation researcher Toni Wahrstätter shows that over 30% of Ethereum validators support increasing the block Gas limit—a key parameter determining the network's transaction processing capacity. Currently, the Gas limit for Ethereum is 30 million, with a third of validators suggesting that the Ethereum block Gas limit should be raised from 30 million to 40 million Gas. Validators proposing and validating blocks can modify their node configuration to indicate support for raising the Gas limit without needing a hard fork. Once more than 50% of validators agree, the block Gas limit will automatically adjust to the next agreed level, targeting at 40 million Gas. Last year, Ethereum co-founder Vitalik Buterin also suggested an increase of 33%. Recognizing the need for increased capacity led to an initiative called "Pump the Gas" last year advocating for raising the gas cap. This initiative was led by Ethereum developer Eric Connor and former MakerDAO smart contract head Mariano Conti aiming to popularize understanding about gas limits and its role in improving scalability within Etherum community. The timeline for increasing gas limits remains unclear yet after implementing proto-danksharding (blobs) during last year's Dencun upgrade which reduced urgency around lifting gas caps as blobs provided new data storage and management methods alleviating some scalability issues especially useful for Layer-2 rollups but if demand grows over time from decentralized applications on ethereum then it would become necessary to raise gas caps.(The Block)
- 12:13MicroStrategy has increased its holdings by nearly 200,000 BTC in the past 10 weeks, while BlackRock has increased its holdings by 120,000 BTC during the same periodCointelegraph revealed that MicroStrategy has increased its holdings by nearly 200,000 BTC in the past 10 weeks, far exceeding BlackRock's increase of 120,000 BTC during the same period.
- 12:12Ethereum pre-confirmation protocol Interstate receives strategic investment from Axelar CEO Sergey GorbunovEthereum pre-confirmation protocol Interstate announced that it has received strategic investment from Axelar CEO Sergey Gorbunov. The specific amount and valuation information have not been disclosed yet. The new funds are intended to support the construction of a pre-confirmation network, aiming to reduce the confirmation time for transactions on the Ethereum chain.