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Quick Take Elon Musk and representatives of the Department of Government Efficiency, which Musk leads, have reportedly spoken with blockchain providers while exploring options for putting federal government systems on-chain, according to a Bloomberg report. Possible use cases include tracking federal spending, managing buildings, and making payments, though talks still appear to be in early stages.
Quick Take VC firm Paradigm called for Ethereum to increase its development speed in a post co-authored by the firm’s co-founder and its CTO alongside other partners. “Wherever you think Ethereum should go, surely it is better to get there faster,” the post argues.
Quick Take Solana DEX aggregator Jupiter, as part of its “Catstanbul” event, announced its acquisition of memecoin platform Moonshot, launched a $10 million fund for open-source AI development in conjunction with Eliza Labs, and introduced the ‘Jupnet’ omnichain network, currently in early testnet. Jupiter also debuted a ‘V2’ version of the platform, declaring the platform is once again in beta as new features are added for “every single part of the stack.” At the event, AI project Eliza Labs announced an
Quick Take U.S.-based spot Bitcoin ETFs have racked up nearly $40 billion in cumulative net inflows since their launch just over a year ago. A recent seven-day inflow streak has brought the ETFs to their highest value yet this week — over $123 billion in total net asset value. Nasdaq filed an amended rule filing on Friday that would allow for redemptions and creations in kind for the iShares Bitcoin Trust, the largest such ETF on the market.
Bitcoin could reach $150,000 this cycle, and if it goes above that price level, will probably come “back down through it,” says Glassnode analyst James Check.
- 10:53The difficulty of Bitcoin mining has been adjusted up by 5.61% to 114.17 T, setting a new historical highGolden Finance reports, according to CloverPool data, Bitcoin mining difficulty at block height 883,008 (Singapore time today 17:33:07) has undergone a mining difficulty adjustment, with the difficulty increasing by 5.61% to 114.17 T, setting a new historical high. The current network's average computing power over the past seven days is approximately 814.56 EH/s and it is predicted that the next difficulty adjustment will be around 114.16 T.
- 10:51In the past 7 days, Base Network has a net inflow of 144.2 million US dollars, ranking firstGolden Finance reports, according to Artemis data, in the past 7 days, Base Network has a net inflow of $144.2 million, ranking first. The Arbitrum network had a net inflow of $99.3 million, ranking second. Solana ($32.2 million) ranked third.
- 10:50Barclays: The inflation rate in the United States will increase by 0.2 percentage points in the next yearAccording to Jinshi, Michael Pond, head of global inflation-related research at Barclays, said that the price of inflation-indexed bonds reflects that the US inflation rate will increase by 0.2 percentage points in the next year, about a quarter of which is caused by gasoline.