“Bring Back Tone Vays” — a news podcast with the ForkLog editors and friends about the week’s main industry events.
Episode topics: Ethereum infrastructure news, pressure on crypto mixers, migration of Russian users from Binance, and an analysis of the current rally in the market..
Participants: Vasily Smirnov, Alex K.
Special guest: Vlad Koen, trader, macroeconomics specialist in the crypto market
Host: Aremefe
Ethereum News
- Smart accounts with support for ERC-4337 faced a decline in user numbers and low transaction activity, according to Stackup co-founder John Raising;
- According to a study by Salus Security cofounder Mirror Tanga, ZKP technology could be deployed on the Ethereum mainnet, reducing the need for Layer 2 networks;
- Ethereum co-founder Vitalik Buterin published an essay in which proposed a new take on using Plasma scaling technology. He argues that the use of zero-knowledge proofs would spare the solution from a number of technological problems.
Pressure on crypto mixers
The California-based Bitcoin platform Swan Bitcoin warned users of permanent blocking for using crypto mixers.
According to platform representatives, banks and custodians have changed their policies in line with FinCEN rules issued by the U.S. Treasury. The agency describes crypto mixers as “money-laundering hubs” and says they threaten U.S. national security.
Migration of Russian users from Binance
According to Wu Blockchain, in October Russian users ranked first in terms of visits to cryptocurrency exchanges Bybit, HTX and Deribit. On Bybit and HTX, the share of visitors from Russia was 17% of total visits, on Deribit — 16%. Binance’s Russian clients accounted for 5% of traffic.
Excessive rally
The rally in the cryptocurrency market appears excessive and could reverse sharply after the anticipated approval of a Bitcoin ETF. JPMorgan concluded.
“Care should be taken due to the high likelihood of encountering the buy-the-rumor/sell-the-news effect after SEC news,” they wrote.
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