This Week In Ethereum

Your weekly update of everything going on in Ethereum

Top Ethereum News of the Week

Ethereum devs confirm the Mainnet Merge will go live between September 15th/16th!

TTD is set at: 58750000000000000000000

Tim Beiko | timbeiko.eth 🐼 @TimBeiko

58750000000000000000000

The US Treasury santions Tornado Cash

Eric Geller @ericgeller

Breaking: @USTreasury sanctions leading cryptocurrency mixer Tornado Cash, which officials say has helped hackers launder >$7 billion since its creation in 2019. North Korea used it to launder proceeds from its record-breaking $620m Ronin heist. home.treasury.gov/news/press-rel…

It's now more expensive to attack Ethereum than Bitcoin

Taha Zafar * tahaz.eth 🦇🔊 @taha_crypto1

Now, it's more expensive to attack Ethereum than Bitcoin. Post merge, it won't even be recognizable. Funny thing is that the cost calculating website crypto51.app was made by a Bitcoin maxi who tinkered the parameters a couple of time too to keep his religion on top.

Vitalik releases idea for stealth addresses for ERC721s

vitalik.eth @VitalikButerin

Idea: stealth addresses for ERC721s. A low-tech approach to add a significant amount of privacy to the NFT ecosystem. So you would be able to eg. send an NFT to vitalik.eth without anyone except me (the new owner) being able to see who the new owner is.

ethresear.chERC721 Extension for zk-SNARKsI feel like you can accomplish this with much lighter-weight technology. Just use regular stealth addresses: Every user has a private key p (and corresponding public key P = G * p) To send to a recipient, first generate a new one-time secret key s (with corresponding public key S = G * s), and pu…

StarkWare announces launch of new recursive validity proof that allows 60 million NFTs to be minted in a single transaction 

Crypto-Gucci.eth ᵍᵐ🦇🔊 @CryptoGucci

StarkWare co-founder announces the launch of its new recursive validity proof technology that allows 60 million NFTs to be minted in a single transaction 👀 cointelegraph.com/news/60-millio…

cointelegraph.com60 million NFTs could be minted in a single transaction — StarkWare co-founderStarkWare has launched new recursive zk-Rollup technology that could significantly upscale the Ethereum network, says co-founder Eli Ben-Sasson.

Stats

The ETH/BTC ratio goes over 50% and hits highest level since January

ETH has outperformed BTC by over 65% since June 18th

mhonkasalo 🫡 @mhonkasalo

BTC & ETH price action from June 18th bottom. Ratio at the highest level since mid-January.

ETH goes back over $2K for the first time since May

There is now $6.1 billion locked in Layer 2’s on Ethereum. That’s an 71% increase over the past 30 days

@takenstheorem shows blocks before/after/recent since EIP-1559 went live

Ethereum number of addresses holding 10K+ ETH hits 1 month high

Ethereum number of addresses holding 1K+ ETH hits 7 month high 

Ethereum number of addresses holding 100+ ETH hits 16 month high

Ethereum News

Tornado Cash developer arrested in Amsterdam

Decrypt @decryptmedia

Dutch Police Arrest Alleged Tornado Cash Dev, More Arrests 'Not Ruled Out': Financial Crimes Unit ► decrypt.co/107314/dutch-p…

decrypt.coDutch Police Arrest Alleged Tornado Cash Dev, More Arrests ‘Not Ruled Out’: Financial Crimes Unit - DecryptA suspected developer of Ethereum mixing service Tornado Cash has been arrested in the Netherlands, with more arrests “not ruled out.”

• Jim Cramer says it's time to buy Ethereum on CNBC

• Circle freezes 75,000 USDC belonging to Tornado Cash users

• Wall Street investors are betting ETH will double by Sept. 30

• Vitalik was the opening keynote speaker at ETHMexico

• Interactive brokers customers can now trade Ethereum and other crypto 24 hours a day

• Tether announces it will support Ethereum PoS after the Merge and not a potential Proof-of-Work fork

• Chainlink says they will only support the main Ethereum chain after the Merge. No PoW forks will not be supported

MakerDAO is considering a $3.5 billion ETH market buy, converting all USDC from the peg stability module into ETH. Vitalik says that's a risky and terrible idea

vitalik.eth @VitalikButerin

@bantg Errr this seems like a risky and terrible idea. If ETH drops a lot, value of collateral would go way down but CDPs would not get liquidated, so the whole system would risk becoming a fractional reserve.

• Ethereum whale transactions peak at 2-month high

• Uniswap is the leading DEX with 65% volume share

• Institutions have now flocked to Ethereum for 7 weeks in a row

• Taiwan turns to Ethereum IPFS tech to Thwart Chinese Cyberattacks

• Worldwide Web3 announces partnership with Immutable and Starkware

• Circle announces it will fully and solely support the Ethereum PoS chain post-merge

• Buenos Aires, the capital of Argentina, will deploy Ethereum Validator Nodes in 2023

Rainbow wallet now allows creating and customizing your ENS profile

Rainbow @rainbowdotme

Rainbow now makes creating and customizing your ENS Profile fun and easy. Upload a PFP and cover photo, add your handles and links, and organize your NFT showcase. Web3’s link-in-bio, easier than ever with Rainbow 🌈

• ETHLatam goes live

• vitalik.ca now has dark mode

• ETH gas fees fall to lowest levels in 2 years

• OKX announces they will support the Ethereum Merge

• Polygon introduces the Gnosis Bridge for Gnosis Safe

• Vitalik plays down the impact of Ethereum forks after the Merge

• Polynomial Protocol launches the next generation of Earn Vaults on Optimism

Arbitrum Nova goes live

Arbitrum @arbitrum

A new dawn is upon us🌄 ✨Arbitrum Nova is now live and open to the public ✨ Nova is a new chain built on the Arbitrum AnyTrust technology and optimized for social and gaming applications that require ultra-low fees and high security medium.com/offchainlabs/i…

medium.comIt’s time for a new dawn, Nova is open to the public!Tl;dr — Nova is now open to the public! Reddit is launching their community points system on Nova. Bridge to Nova here! Learn more about…

• Curve Finance was comprimised

• Polygon is now home to over 37K dApps

• DeFi Saver DFS Automation for Aave V3 on Arbitrum goes live

• Orbiter Finance makes bridging to StarkNet easier with integration with Argent

• CoW Swap handles over $100M volume and hits highest daily market share in its history

• Arbitrum and OptimismFND are now the 4th and 6th largest smart contract chains by total value locked

• Anchorage & Angel List partner to allow investors to use USDC to fund their special purpose vehicles (SPVs) and funds of choice via the Ethereum network

There is now 140 million DAI on Optimism

Maker @MakerDAO

Dai on Optimism 👀 From 30 million to 140 million in 5 days.

• Solidity releases version 0.8.16

• Index Coop introduces the Flash Mink SDK

• SushiSwap is launching on Arbitrum Nova

• RabbitHole new LensProtocol quest is live

• DeBank will not support any Ethereum PoW chains after the Merge

• Six Degree creates an Ethereum on-chain macro metrics dashboard

• The founder of IsmToys meets Vitalik and gives him physical versions of popular NFTs

CASΞY @caseykcaruso

Gas consumption tells many stories, from the rise of DEXs to the rotation of capital from DeFi to NFTs. I coded up a viz to explore the top gas guzzlers on Ethereum with data from @nansen_ai. Some insights below but even better, see what you can find! gasguzzlers.wtf

• MUX now supports Arbitrum

• Poloniex announces trading for potential ETH hard fork tokens

• L2BEAT releases update where their website is now being updated on an hourly basis

• Lido adds wallet integration for Ambire Wallet

• @caseykcaruso shows off the top Gas Guzzlers on Ethereum

• Silo Finance announces the deployment of their lending protocol on Ethereum

• Ren introduces Ren 2.0

• ETHGlobal announces the 8 Metabolism Finalists

• 1inch partners with KuCoin Wallet

• The Encode x Wintermute MEV Hackathon with Flashbots starts August 15

The Merge

The Goerli Testnet Merge was successful!

Crypto-Gucci.eth ᵍᵐ🦇🔊 @CryptoGucci

Goerli Testnet Merge is now live on Proof of Stake and was confirmed successful! Up next: The Ethereum Mainnet Merge!!! The Merge is coming 🔜🐼

TTD has been set for the Mainnet Merge

vitalik.eth @VitalikButerin

The terminal total difficulty has been set to 58750000000000000000000. This means the ethereum PoW network now has a (roughly) fixed number of hashes left to mine. bordel.wtf predicts the merge will happen around Sep 15, though the exact date depends on hashrate.

I released a Summary of the Ethereum Goerli Testet Merge Transition

Crypto-Gucci.eth ᵍᵐ🦇🔊 @CryptoGucci

The Ethereum Goerli Testnet Merge transition was successfully yesterday! Here’s a quick summary of everything you need to know 🐼 cryptogucci.substack.com/p/summary-of-t…

cryptogucci.substack.comSummary of the Ethereum Goerli Testnet Merge Transition 🐼The Ethereum Goerli Testnet Merge is now live!

Bankless hosts the Goerli Merge live stream

Merge Community Call #6 went live

@0x_Lucas releases The Biggest Threat to the Merge on Bankless

@TimBeiko talks about the Merge at ETHVancouver

@christine_dkim releases Ethereum Dev Call Summary

@benjaminion_xyz releases What’s New in Eth2

Consensus Layer Call #93 went live

Nethermind releases guide on how to setup and run Nethermind after the Merge

Articles and Threads

@TrustlessState releases The Ethereum Watershed

DavidHoffman.eth 🦇🔊🏴 @TrustlessState

I just published on @BanklessHQ "The Ethereum Watershed" Post-Merge, the process for building a block resembles a Watershed. Each transaction is unique! But they quickly converge upon the same inevitable outcome All transactions flow towards $ETH Dive in! 🧵Thread!👇🧵

• Binance releases An Introduction To ERC-20 Tokens

• @dennis_qian releases Monday DeFi Market Alpha

• Immutable releases Ground Up Guide: zkEVM, EVM Compatibilty & Rollups

• Loopring releases Q2 Quarterly Update

• @Swagtimus releases StarkNet Roundup #29

• @takenstheorem releases Layer 2 Playgrounds

• Blocknative releases Ethereum Block Building: Prepare for the Post-Merge Future

@Montana_Wong releases What is the Triple Halvening and how this will drastically affect every ETH holder

Montana Wong @Montana_Wong

Ethereum is about to experience a once-in-a-lifetime phenomena called the "Triple Halvening" after the upcoming Merge. What this is, and how this will drastically affect every ETH holder 👇

• @DeFiSurfer808 releases Optimistic Arbitrum

• Swell Network releases Swell Ether, NFTs, and vaults

• StatefulWorks announces the first artists in New Home of the Heart

• @lodestar_eth releases The Road Ahead for Ethereum Light Clients

• a16z releaes Measuring SNARK Performance

• @vargastarup releases 10 best resources for scaling dApps using STARKs

• @spencernoon releases OurNetwork #133

@StarkWareLtd releases Recursive STARKs

StarkWare @StarkWareLtd

STARKs 🐺 StarkEx 🚀 Cairo 🦅 SHARP 🤝 StarkNet ✨ Our next milestone is live on Mainnet: Recursive Proving of General Computation medium.com/starkware/recu…

medium.comRecursive STARKsThe very first recursive proofs of general computation, now live on Ethereum Mainnet

• @CryptoHayes releases thread about ETH futures

• Gitcoin releases Introduction to Gitcoin Passport

• Messari Crypto releases The State of Aave Q2 2022

• @WeekInEthNews releases Latest Week in Ethereum News

• 0xNurstar releases Recap of the previous Day on StarkNet thread

Twitter Spaces

Block Gurus Ethereum Beacon Chain, Staking, and more w/ @superphiz @5459_eth & @CryptoGuy_777

MEV and the Merge w/ @sassal0x & @0xjim

Optimism Bedrock AMA w/ @annieYke @kevinjho_ @trianglesphere & @protolambda

Collective Shift - Ethereum; Scaling Wars; Upcoming Narratives w/ @sassal0x

Liquity - Decentralized Stablecoins Matter w/ @ameensol @ChrisBlec & @DeFi_Dad

Podcasts

Show Me The Crypto Understanding The Ethereum Merge

Bankless The Network State w/ @RyanSAdams @TrustlessState & @balajis

Epicenter MEV-Boost w/ @crainbf @FelixLts @thegostep & @_vshapovalov

Unchained On The Chopping Block w/@hosseeb @rleshner & @tomhschmidt @hasufl & @runekek

Polygon Alpha Podcast w/ @Crypto_Texan @Riiijo & @harshrajat

Optimism for NonTechies w/ @ori_pomerantz

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If you missed This Week In Ethereum last week, make sure to check it out👇

Crypto-Gucci.eth ᵍᵐ🦇🔊 @CryptoGucci

New This Week In #Ethereum is out! - CME Group announces ETH Euro Futures - Coinbase announces institutional ETH staking - Proposed legislation will treat ETH as a commodity - ETH flips BTC in Options Open Interst for first time ever + more

cryptogucci.substack.comThis Week In EthereumYour weekly update of everything going on in Ethereum

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This concludes This Week In Ethereum. I’ll be back again next week with the best alpha in the Ethereum ecosystem!

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Stay gucci frens.

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This newsletter is for educational purposes only and is not financial or investment advice. Always make sure to do your own research and stay gucci.