ETH breaks through the $3400 mark

Odaily Planet Daily News: The US Internal Revenue Service (IRS) has issued a temporary relief measure expected to benefit CeFi exchange users by 2025. This relief measure addresses concerns raised by the final version of Rule 6045 on custodial brokers, which will take effect on January 1, 2025 and requires the use of first in first out (FIFO) accounting methods for digital assets, unless preferred methods such as highest in first out (HIFO) or Spec ID are selected. Shehan Chandrasekera, head of tax strategy at Cointracker, explained the issue, emphasizing that "as of January 1, 2025, almost all CeFi brokers are not yet ready to support Spec ID." This lack of preparation will force many cryptocurrency holders to default to FIFO accounting, which may lead to higher tax burdens during asset sales. He described, "In a bull market environment, this can be disastrous for many taxpayers as you unintentionally sell the assets you purchased earliest (often with the lowest cost base) while unknowingly maximizing your capital gains The temporary relief from the US Internal Revenue Service allows taxpayers to continue using their own records or tax software to identify specific units being sold. The exemption period is only applicable to CeFi transactions from January 1, 2025 to December 31, 2025. After this date, taxpayers will need to formally choose an accounting method with their broker. Chandrasekera also emphasized the importance of synchronizing tax software with broker settings. （(Bitcoin.com)）

OKX - FARTCOIN is currently priced at $0.9985, with a 24-hour increase of 17.81%. 24-hour transaction volume of 500 million US dollars, up 36.61%, for reference only

According to Forbes, as of December 2024, Africa currently accounts for 3% of the global Bitcoin mining hash rate, with Ethiopia alone contributing 2.5% of production, more than double the total production of the entire African continent in 2023, and entirely through renewable energy. According to data from the Ethiopian Electric Power Company (EEP), Ethiopia has earned over $55 million in revenue from electricity sales generated through Bitcoin mining this year alone, accounting for 18% of its total revenue. Following Ethiopia's approval of Bitcoin mining earlier this year, the local Bitcoin mining business has significantly increased, with over $1 billion reported to be spent on mining infrastructure in 2024. Other countries such as Kenya have also joined the ranks of African countries, keen to use Bitcoin mining to promote economic growth, provide electrification for communities, and manage green energy projects. Africa is a popular location for global Bitcoin miners because it has the cheapest green energy in the world, such as the price of 3.2 cents per kilowatt hour in Ethiopia.

Odaily Planet Daily News: According to Dune Analytics data compiled by Hildobby, Ethereum has averaged over 21000 blob per day in the past two months, highlighting users' increasing preference for L2 scaling solutions. Meanwhile, the cost of blob publishing process will fluctuate according to network demand. According to GrowthPie's data, blob related fees on Ethereum have reached approximately $4 million in the past month. These fees paid in ETH will be destroyed, permanently removing these tokens from circulation and affecting their supply. Essentially, the popularity of blob has had a significant impact on the Ethereum ecosystem, particularly its ETH destruction rate. According to Ultrasound.money, in the past week, blob has become the main source of Ethereum destruction, destroying 453.24 ETH, exceeding the maximum DEX Uniswap destruction amount on the Ethereum chain during the same period (396 ETH). However, Uniswap remained the largest ETH destroyer in the past 30 days, contributing 4681 ETH and destroying 1068 ETH through blob. （CryptoSlate）

Today, 5 cryptocurrency projects are unlocking tokens: SUI unlocks approximately 64.19 million pieces (about 270 million US dollars), accounting for 0.642% of the total supply, with a current circulation of 3.0 billion pieces and a total of 1 billion pieces; ZETA unlocks approximately 53.88 million pieces (approximately $29.8 million), accounting for 2.566% of the total supply. The current circulation is 630 million pieces, with a total of 2.1 billion pieces; AI unlocks approximately 23.2 million pieces (about 13.32 million US dollars), accounting for 2.321% of the total supply, with a current circulation of 280 million pieces and a total of 1 billion pieces; ENA unlocks approximately 12.86 million pieces (approximately 11.95 million US dollars), accounting for 0.086% of the total supply. The current circulation is 2.06 billion pieces, with a total of 15 billion pieces; MAV unlocks approximately 36.2 million pieces (approximately 7.29 million US dollars), accounting for 1.81% of the total supply, with a current circulation of 530 million pieces and a total of 2 billion pieces; If the unlocked tokens flow into the market or there is a tendency to sell, please pay attention to the market changes after the tokens are unlocked.