After two weeks of heavy redemptions, U.S.-listed spot Bitcoin ETFs turned positive again, led by Fidelity and Ark, even as global fund flows remain uneven.
[Trader Eugene: Uniswap Activating Fee Switch is a Positive Development for the DeFi Industry] On November 12, trader Eugene Ng Ah Sio stated that discussions surrounding Uniswap's activation of the fee switch exhibit a 'missing the forest for the trees' phenomenon. He believes that pro-crypto regulatory frameworks are reshaping value accumulation strategies at the protocol level, which benefits token holders and sets a precedent for the DeFi industry. He also pointed out that as insider selling gradually comes to an end, market participants will be able to evaluate protocols more reliably based on fundamentals, and the crypto market may exhibit more characteristics of traditional stock markets in the future.
[Number of Ethereum Validators Drops to April 2024 Levels] The number of Ethereum validators has decreased by approximately 10% since July, falling back to April 2024 levels. This marks the first sustained decline in validators since Ethereum transitioned to the Proof-of-Stake mechanism. As of November 11, the daily active number of Ethereum validators fell below 1 million for the first time since April 28, reaching 999,203. The exit queue waiting time hit a record high of 17.6 days, while the waiting time to join as a validator rose to 22 days. Approximately 1.2 million ETH are waiting to be staked, which may be related to the decline in staking rewards.
[Bitdeer Ohio Mining Farm Fire Causes Two Buildings to Collapse, No Casualties] On November 12, Bitdeer Chairman Jihan Wu confirmed that a fire occurred at the company's newly built mining farm in Ohio, causing two of the 26 buildings to collapse. No casualties were reported. Currently, the senior management team has arrived at the site and will conduct an investigation.
[Crypto KOL's $1 Million MegaETH Token Allocation Revoked for Violating Lock-Up Rules] Crypto KOL IcoBeast had their $1 million MegaETH token allocation revoked after publicly stating their intention to hedge their MegaETH token distribution, which violated the rules associated with the one-year lock-up period. MegaETH Chief Strategy Officer Namik Muduroglu posted on X, emphasizing that participants in the MegaETH sale who lock up their tokens for one year must adhere to the following rules: tokens cannot be resold or transferred, and no transfers, resales, or hedging transactions that violate applicable laws are allowed. Muduroglu stressed that the token sale was oversubscribed by 28 times, and allocating tokens to participants planning to sell immediately is meaningless. Priority will be given to investors willing to hold the tokens.
[Plasma to Transfer Custody of XPL Tokens to Anchorage Within 48 Hours] Stablecoin infrastructure project Plasma announced that it will transfer XPL tokens to Anchorage, a federally chartered crypto bank in the United States, within 48 hours to complete the custody transition. All tokens will continue to follow the established unlocking schedule.