Golden Web3.0 Daily Report | Vitalik outlines the Ethereum execution layer roadmap

DeFi data

1. Total market value of DeFi tokens: $49.606 billion

DeFi Total Market Cap Data Source: coingecko

2. Trading volume of decentralized exchanges in the past 24 hours: $37.51

Trading volume of decentralized exchanges in the past 24 hours. Data source: coingecko

3. Assets locked in DeFi: $935.88 billion$100 million

Top 10 DeFi Projects by Locked Assets and Total Value Locked. Data Source: defillama

NFT Data

1. Total Market Value of NFTs: $7.239 Billion

2.24 hours NFT transaction volume 1.27 billion USD

Headline

Vitalik Explains Ethereum Execution Layer Roadmap, Focusing on Two Major Changes: State Tree and Virtual Machine

March 2nd news, Ethereum co-founder Vitalik Buterin posted on social media explaining the Ethereum execution layer roadmap, focusing on two major changes: state tree and virtual machine. Regarding the state tree, Vitalik supports upgrading the current hexadecimal Merkle Patricia tree to a binary tree based on a more efficient hash function through EIP-7864. This change can shorten the Merkle branches by 4 times, reducing the bandwidth cost of client verification data; at the same time, the hash function can be changed to Blake3 or Poseidon series, significantly improving proof efficiency.

MEME Hot Topics

1. A new address adds 947.31 million PUMP, worth approximately $1.86 million

According to lookonchain monitoring, a newly created wallet "zt27jp" has withdrawn 947.31 million PUMP (approximately $1.86 million) from Bybit in the past two days.

DeFi Hot Topics

1. Over the weekend, the sudden escalation of tensions in Iran led to the closure of most markets, and Hyperliquid's token rose against the trend

This weekend, as tensions related to Iran escalated, Hyperliquid's HYPE token rose by approximately 6%. While many traditional markets were closed, traders turned to this 24/7 decentralized perpetual contract platform to hedge their risks. As tensions in Iran intensified, Bitcoin and other risk assets fell, global market risk aversion increased, and oil and gold prices rose.

Increased volatility and negative funding rates in the crypto derivatives market have prompted traders to adjust their positions. Hyperliquid, a decentralized exchange that allows traders to buy and sell perpetual contracts directly on-chain without centralized intermediaries, saw its native token, HYPE, fall to around $26.20 at the end of February due to a market correction. Following increased market volatility on Sunday, the token surged to around $32. Data shows that HYPE has risen approximately 25% year-to-date, but remains well below its all-time high of nearly $58 in September. On Saturday, the exchange's trading volume in the past 24 hours reached a near one-month high, peaking at $200 million. Trading volume subsequently declined as traders digested risk premiums in the global energy market.

2. Uniswap Founder: Financial Systems Must Always Remain Operational and Accessible

Uniswap founder Hayden Adams tweeted regarding the "Dubai Stock Exchange has closed until further notice," stating that banning trading only deprives consumers of choice.

3. Developers Challenge BIP-110 Data Limitation Proposal by Writing Images to the Bitcoin Chain Without Using Taproot or Other Methods

Slovak Bitcoin developer and Rust Bitcoin library maintainer Martin Habovštiak released a proof-of-concept that directly writes a 66kB TIFF image file to the Bitcoin blockchain in a single transaction without using OP_RETURN, Taproot, or OP_IF. This transaction is publicly verifiable on-chain and can be decoded into the complete image file. This experiment is seen as a direct challenge to Luke Dashjr's "anti-spam" soft fork proposal BIP-110. This proposal (formerly BIP-444) aims to limit the scale of on-chain data writes, which proponents argue deviates from Bitcoin's core function as "currency."