[Weekly Readings] Tornado Cash Brings a Turbulence While ETH's Future Is Brighter

HuobiPublicado em 2022-08-20Última atualização em 2022-08-22

Resumo

Tornado Cash Brings a Turbulence While Eth's Future Is Brighter

1.ETH

[ETH] ETHPoW Many not Success Due to These Causes

An ETHW fork will face significant challenges due to the complexity of DeFi and proliferation of asset-backed tokens.

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[ETH-flexive] Arthur Hayes: Buy ETH in the Dip! | Ethereum's Merge Prediction And Its Market Trends

My attempt at applying Soros’ theory of reflexivity to the ETH merge increased my confidence. I questioned what I should do leading into the merge, and after putting these thoughts down on proverbial paper, I know what to do. Buy The Fucking Dip!

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Dogecoin About To Explode? DOGE Mimicking Bitcoin Prior to BTC’s Massive 2019 Rally, Says Crypto Trader

A widely followed crypto analyst and trader is predicting that meme token Dogecoin (DOGE) could...

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[ETH Merge] ETH2's Decentralization Is under Questioning by the Crypto OGs

ETH2.0 may not keep its decentralization promise

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[ETH]The Merge Has not Priced in! Here Is Why

The Merge is not priced in!

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Ether To See Rare “Triple Halvening” After the Merge — How This Will Drastically Affect Every ETH Holder

With the Ethereum Merge just around the corner, the crypto community has expectations for the Ethereum ecosystem post-Merge. Entities within the space are already making preparations for the eventual launch of the upgrade. In light of this, an ex-blockchain engineer has highlighted the phenomenon proponents should expect.

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2.Legislation

Tornado Cash's Sanctions Are ‘Unprecedented’ by US Treasury, Warns Congressman

With just 28 legislative days left this year, “it’s unlikely that any crypto legislation is going to move,” Rep. Tom Emmer said on CoinDesk TV’s “First Mover” show.

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[Legislation]Crypto Banks Could Access To U.S. Legacy Banking System?

According to a press release, the U.S. Federal Reserve (Fed) might provide crypto banks and other entities with access to...

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Tornado Cash DAO shuts down as it “can’t fight the US” and keep contributors safe

With just 28 legislative days left this year, “it’s unlikely that any crypto legislation is going to move,” Rep. Tom Emmer said on CoinDesk TV’s “First Mover” show.

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3.DeFi

[Stablecoin]MakerDAO Set To Convert USDC Funds To ETH, Is This A Good Idea?

The crypto community has been on alert since the crash of LUNA, ETH, and USDT. Investors depend on stablecoins to...

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4.GameFi

[GameFi]Function over fun? Analyst says P2E games don’t need to be ‘fun’ to retain users

Play-to-earn games struggle to retain users, which is exactly why one analyst says they need to focus on function over fun.

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5.Tokenomics

What’s the Best Token Model?

Token economics is an important part of cryptocurrencies.

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6.Social Fi

a16z: What Can Web3 World Learn from Web2 Social Networks

Social networks tend to elevate content that it expects will get attention. Doing so incentivizes a particular type of behavior that lends status to the users performing said behavior. Typically, there’s a status indicator that people have to try and accumulate. It comes in various forms – karma, follower/like counts, XP, the verified badge, leaderboards, etc.

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Leituras Relacionadas

Analysis of the Latest Portfolio Adjustment by the "Top Player" in the U.S. Stock Market: $9 Billion Short on NVIDIA, Shifting Focus to Power and Memory Sectors

AI investor Leopold Aschenbrenner has made a significant portfolio shift, taking a $9 billion nominal short position against top AI infrastructure stocks like NVIDIA, ASML, and Oracle. Simultaneously, he is redirecting capital towards what he sees as the next critical bottlenecks in the AI boom: power, memory, and data center networking, alongside private investments in AI model companies like Anthropic. This move is interpreted not as a call that the AI bubble has burst, but as a rotation within the infrastructure stack. The analysis highlights NVIDIA's recent $25 billion bond issuance as a potential signal, questioning why a cash-rich company would seek external debt despite high profits and increased dividends/buybacks. The core investment thesis is that the initial, crowded "picks and shovels" trade in semiconductors is maturing. The next wave of capital is expected to flow into the physical and logistical constraints of AI expansion: electricity supply, memory chip capacity, data center construction, and enabling technologies like optical networking (fiber) for high-bandwidth communication, where copper remains crucial for short distances. Aschenbrenner's substantial (approx. 20% of fund) private stake in Anthropic is noted as a key part of his strategy—investing directly in the "mine" (AI models) rather than just the "shovels." The discussion concludes that while certain segments may be overvalued, the overarching AI infrastructure demand driven by real product usage remains robust. The most promising long-term investments are seen in essential, non-sexy infrastructure—particularly energy and power companies—whose demand is viewed as a global constant irrespective of AI's cyclicality.

marsbitHá 15m

Analysis of the Latest Portfolio Adjustment by the "Top Player" in the U.S. Stock Market: $9 Billion Short on NVIDIA, Shifting Focus to Power and Memory Sectors

marsbitHá 15m

BIT Research: Liquidity is Disappearing, Will Bitcoin Replay the Bottoming Pattern of 2022?

The crypto market is currently in an adjustment phase driven by policy expectations and liquidity shifts. Despite a brief rebound fueled by geopolitical easing and SpaceX's strong IPO performance, unexpectedly hawkish signals from new Fed Chair Kevin Warsh have removed anticipated easing support. Concurrently, stablecoin liquidity is shrinking, with insufficient new capital inflows, pushing the market into a typically quiet summer period. Pricing lacks catalysts for a sustained rally. Daily trading volume has significantly contracted, stablecoin growth has slowed markedly, and the supportive effect of Strategy's (formerly MicroStrategy) STRC preferred stock-financed Bitcoin purchases is fading. Amid policy uncertainty, seasonal weakness, and liquidity contraction, Bitcoin faces near-term downward pressure. Warsh's hawkish pivot and refusal to provide a clear policy outlook have increased risk premiums, historically unfavorable for Bitcoin. Technically, the trend remains bearish below $73,700, with $62,446 as critical support. A break below could accelerate declines, though a prolonged consolidation phase, similar to 2022's bottoming process, is possible. Liquidity is a core constraint. Current daily volume is around $500 billion, roughly 25% of the peak during the July-Oct 2025 rally. The 12-month growth rates for USDT and USDC have fallen to ~20%, with 6-month growth near zero, indicating weak new inflows. Bitcoin ETF and Strategy-driven inflows have also weakened, with a 30-day rolling net outflow. With inflation at 4.2% above the Fed's target, combined hawkish policy, seasonal factors, and liquidity shortages challenge Bitcoin's ability to hold above $60,000. However, this adjustment phase may be forming a cyclical low this summer, potentially setting the stage for the next bull cycle.

marsbitHá 43m

BIT Research: Liquidity is Disappearing, Will Bitcoin Replay the Bottoming Pattern of 2022?

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Mining Companies' High-Stakes Bet on AI: Valuations Enter a Phase of Divergence, Uphill Battle Ahead

Crypto miners are facing increasing pressure amid weak digital asset markets, pushing many to pivot towards AI infrastructure as a new growth avenue. Leveraging existing assets like power resources, land, and cooling systems, miners can convert facilities for AI compute at lower costs. This transition narrative has fueled significant stock rallies, with some miners' shares outperforming Bitcoin year-to-date. Market valuations have diverged, with pioneers like CoreWeave reaching a multi-billion dollar valuation, while others lag. The shift is driven by AI's explosive demand for data centers and compute, with clients willing to pay premiums for power and space. However, the transformation is capital-intensive, requiring massive funding for GPU procurement and facility upgrades, with an estimated short-term funding gap of $50 billion. Miners are raising capital through convertible bonds, Bitcoin sales, and securing long-term AI contracts to finance the build-out. While AI offers greater long-term potential than mining, success hinges on execution, timely project delivery, and securing quality tenants, moving the valuation focus from power capacity to cash flow and return metrics.

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Mining Companies' High-Stakes Bet on AI: Valuations Enter a Phase of Divergence, Uphill Battle Ahead

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Who Makes the Best Use of Claude Code? The Answer Might Not Be Programmers

Claude Code Usage Report Summary (Based on ~400k sessions) Core Finding: In agentic programming with Claude Code, a clear division of labor has emerged: humans primarily decide *what* to build (planning decisions), while Claude decides *how* to build it (execution decisions). Key Insights: 1. **Effectiveness is not limited to programmers.** In code-generation tasks, success rates for users in non-technical fields (law, finance, management, research) are nearing those of software engineers. What matters most is the user's domain expertise and understanding of the problem to be solved. 2. **Domain expertise drives success and efficiency.** Sessions where users exhibited "expert" proficiency in the task's domain saw verified success rates double compared to "novice" sessions. Experts also delegated more work per instruction, with Claude executing more actions and producing more output. 3. **AI is amplifying, not replacing, domain knowledge.** Claude Code lowers the *implementation* barrier, not the *judgment* barrier. The value of knowing the "what" and "why" is increasing relative to just knowing the "how" to code. 4. **Usage is evolving.** Over a 7-month period (Oct '25 - Apr '26), the share of sessions for debugging halved, while use for software operations, data analysis, and non-code writing roughly doubled. The estimated economic value of typical tasks increased by ~25%. Conclusion: The data suggests coding agents are making programming background less critical for completing technical tasks. However, they reward and amplify deep domain understanding. The ability to successfully direct an AI agent stems more from mastery of a specific field than from coding skill itself. The primary gains come from being competent in a domain; deep specialization adds only marginal additional advantage. This may signal a shift where software creation becomes integrated into various professions.

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Who Makes the Best Use of Claude Code? The Answer Might Not Be Programmers

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Strategy's Preferred Stock STRC Unpegs by 11%, Can Its Perpetual Motion Machine Keep Spinning?

The preferred stock STRC issued by Strategy (MicroStrategy) has depegged over 11% from its $100 target par value, raising questions about the sustainability of the company's capital flywheel strategy. STRC, a perpetual preferred stock designed to trade around $100, serves as a key engine for Strategy's expansion, allowing it to raise fiat currency via at-the-market offerings to buy Bitcoin without diluting common shareholder equity. Its depegging, despite dividend rate hikes, suggests market concerns extend beyond yield to the core stability of Strategy's model. Analysts point to potential leveraged unwinding and, more critically, worries about Strategy's liquidity. While the company cites its massive Bitcoin holdings as covering decades of dividends, a recent small BTC sale—a first—has shaken confidence in its "never sell" narrative. If STRC remains discounted, impairing Strategy's fundraising ability, fears may grow that the company could be forced to sell Bitcoin to meet obligations, potentially turning a major market buyer into a seller and exerting significant downward pressure on Bitcoin's price.

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Strategy's Preferred Stock STRC Unpegs by 11%, Can Its Perpetual Motion Machine Keep Spinning?

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