#eth

The TVL of Coinbase's blockchain has surged to $146 million following its mainnet launch, surpassing StarkNet's TVL of $112 million. What's particularly striking is that roughly 87% of Base's TVL is held in ETH. However, the network's throughput still has room for improvement, with its TPS standing at roughly 5.81. For comparison, here are the TPS figures of other L2 solutions: Optimism — 6.88 Arbitrum One — 7.26 zkSync Er — 10.72

Renowned business analyst Adam Cochran recently shared insights concerning Huobi's financial state and its potential insolvency. Key takeaways from Adam's analysis: Investigation Underway: Both Huobi and Tron are facing scrutiny, with their staff being questioned by the police. Unusual Asset Distribution: After Justin Sun's introduction of wrapped USDT (stUSDT), a whopping 98% of user assets intended for Tether bond redemptions ended up in the wallets of Huobi and Justin Sun. Discrepancy with USDT Balance: Huobi's reported USDT balance is just $63 million, but their users hold a staggering $631 million worth of USDT. Something doesn't add up here. ETH Holdings in Question: It appears that Huobi is holding all of its users' ETH as stETH, raising eyebrows about their handling of customer assets. Binance Making Moves: Meanwhile, Binance is actively selling USDT and purchasing DAI, possibly indicating a shift in market dynamics. Outdated Reserves Page: It's been a whole month since Huobi last updated its reserve page, and discrepancies between the reported figures and wallet balances need clarification.

A Twitter debate has erupted, speculating that Sam Bankman-Fried (SBF) might be involved with the BALD memcoin rugpull. Blockchain analysts delved into the developer’s on-chain history and discovered a connection between the wallet address deploying the BALD token and ETH funding from wallets linked to FTX and Alameda Research. An anonymous DeFi commentator suggested that this link might indicate SBF’s attempt to recover some losses. Data editors found that the same wallet address had made numerous transfers (400) to blacklisted USDT addresses and appeared to have strong connections with Alameda Research.

The Telegram trading bot, Unibot, is rapidly gaining popularity, thanks to its seamless integration with the decentralized exchange Uniswap and ETH payouts to token holders. As the UNIBOT token soared to $170 its user base has surged to 6,500, and the daily trading volume has averaged $5.5 million.

A former top trader on Binance sent 2,500 ETH (worth nearly $5 million) to a dead wallet address. In a surprising comment on his last year's unfortunate trade, he said, "Cannot be happier. Being ultimately bankrupt is the best thing that can happen to me. Anyway, number has no meaning in another dimension. Now is the defining moment." Other users describe him as a rather eccentric individual with a significant fortune. What could have led him to take this intriguing step?

The team behind the largest token on the Base blockchain, Bald, has withdrawn a substantial amount of liquidity from LeetSwap, removing 7,000 ETH and 142 million BALD tokens in a significant transaction. The price of BALD has plummeted to as low as $0.015, experiencing a decline of over 84%. In the past few days, BALD had seen a gain of over 30,000%, even without having an official website or active presence on social media.

Sotheby’s Gen Art Program, featuring works by the 99-year-old artist Vera Molnár, made a sensational debut, with all pieces selling within an hour above the base price of 1.5 ETH. The auction culminated in 631 ETH, equivalent to $1.2 million. Molnár’s artworks present intricate algorithmic transformations, converting hand-drawn variations of letters N, F, and T into captivating black-and-white graphics with mesmerizing color combinations.

NFT royalties on Ethereum hit an eye-popping 699,816 ETH, roughly translating to $1.8 billion. However, data analytics firm Nansen's deep-dive analysis points to an unsettling trend. Despite sustained NFT volumes in 2023, royalties for this year only constitute 9.4% of the total payout, a stark contrast to 2022, which accounted for over 64% of the total ETH paid. The culprit behind this disparity is the downward trend in effective royalty rates, which fell from 2.5% in 2022 to a scant 0.6% by July 2023. Some NFT projects such as Yuga Labs, behind popular initiatives like Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC), are among the few benefiting, receiving 9.4% of all royalties.