Project Weekly | Bitcoin miners totaled $916.6 million in May

**Golden Weekly is a weekly blockchain industry summary column launched by Golden Finance, covering key news, market and contract data, mining information, project dynamics, technological progress and other industry trends for the week. This article is the project weekly, showing you the progress of mainstream projects and star projects this week. **

Bitcoin

Data: OrdinalsThe total amount of inscriptions has exceeded 100010,000

Jinse Finance reported that according to the latest data from Dune Analytics, the total number of minted inscriptions of the Bitcoin NFT protocol Ordinals has exceeded 10 million, reaching 10,018,046 at the time of writing. The cumulative fee income reached 1,578.4611 BTC, worth about 44,143,173 US dollars.

Ordinals** Founder Announces Handover of Project Control to a Developer**

Jinse Finance reported that Casey Rodarmor, founder of the Bitcoin NFT protocol Ordinals, said on Twitter that he resigned as the chief maintainer of the protocol and handed over control of the project to a developer named Raph. I haven't been able to give Ordinals the attention they deserve, and Raph has agreed to serve as lead maintainer. Raph's work on Ordinals will be funded entirely by donations. Although Rodarmor's title has changed, he will still be involved in the project. Raph explained in an interview that Rodarmor just didn't want to be the public persona the Ordinals are currently.

Data: The total revenue of miners on the Bitcoin network in May reached 9.166 billion US dollars

According to news from The Block on June 2, the total income of miners on the Bitcoin network reached 916.6 million US dollars in May, a month-on-month increase of 13.7%. It is worth mentioning that the Bitcoin NFT craze sparked by Ordinals has driven a surge in the transaction fee income of miners. In May, the total income of miners through transaction fees exceeded 120 million US dollars.

Bitcoin mining difficulty increased3.4% to 51.23T, a record high

On June 1st, BTC.com data showed that the difficulty of Bitcoin mining ushered in an adjustment at block height 792288, and the mining difficulty increased by 3.4% to 51.23 T, setting a new record high. The current average computing power of the entire network is 376.23 EH/s.

Data: Bitcoin transaction fees soar to highest level in two years

Jinse Finance reported that according to Tokenview data, Bitcoin transaction fees soared to the highest level in two years in May.

Bitcoin network mining emissions dropped to below 300grams**/**kWh for the first time, a record low

Jinse Finance reported that according to relevant data disclosed by Bitcoin ESG analyst Daniel Batten, Bitcoin network mining emissions fell below 300 g/kWh for the first time, setting a record low. It is worth mentioning that it took Bitcoin just over three years to halve network emissions, and the rate of emission reduction is faster than other industries, demonstrating the progress of the blockchain network in terms of sustainable development. (cryptoslate)

Bitcoin Miners Earn Transaction Fees at Highest Level in Over Two Years

Jinse Finance reported that according to The Block's data dashboard, the transaction fee income collected by Bitcoin miners surged in May, reaching the highest level in more than two years. As of May 29, the share of mining revenue from transaction fees was 14.3%. That's up more than 11% from April and the highest level since April 2021.

Bitcoin network has been ranked among the top 10 blockchains in NFT total sales, and the current total sales are 3.31 million US dollars

On May 29th, according to data from Cryptoslam, the current Bitcoin network has surpassed BNB Chain to rank 10th in the blockchain ranking of total NFT sales. At press time, total Bitcoin network NFT sales totaled approximately $331,021,670.

**Bitcoin market value ranks **13th in the global asset market value ranking

Jinse Finance reported that according to companiesmarketcap data, as of now, the market value of Bitcoin is 586.44 billion U.S. dollars, ranking 13th in the global asset market value ranking, while Tesla's current market value is 532.92 billion U.S. dollars, slipping to 13th. Other top ten assets/companies by market capitalization are: Gold ($12.841 trillion), Apple ($2.759 trillion), Microsoft ($2.475 trillion), Saudi Aramco ($2.059 trillion), Alphabet ($1.586 trillion) , Silver ($1.319 trillion), Amazon ($1.232 trillion), Nvidia ($963.18 billion), Berkshire Hathaway ($700.59 billion), Nvidia ($654.42 billion), Mate ($671.53 billion Dollar).

Ethereum

Ethereum network is currently destroyed336.0210,000****ETH

Jinse Finance reported that according to Ultrasound data, up to now, the Ethereum network has destroyed a total of 3,360,283.34 ETH. Among them, OpenSea destroyed 230050.62 ETH, ETHtransfers destroyed 286906.16 ETH, and UniswapV2 destroyed 181738.69 ETH. Note: Since EIP-1559 was introduced in the upgrade of Ethereum London, the Ethereum network will dynamically adjust the BaseFee of each transaction according to the transaction demand and block size, and this part of the fee will be directly burned and destroyed.

Ethereum pledge pool has continued to grow for 20 days in a row, with nearly 59 million active validators**

Jinse Finance reported that Glassnode data shows that the Ethereum pledge pool has continued to grow for 20 consecutive days, with nearly 590,000 active validators, raising the daily popularity limit from 1800 to 2025. As a result, the over 76,000 validators currently waiting in the activation queue will now activate within 37 days instead of the previous 42 days.

**Data: 5month NFT sales on the Ethereum chain exceeded 3.5 million US dollars, a record of nearly ***7 *MONTHLY LOW

Jinse Finance reported that according to data from cryptoslam, the total sales of NFT on the Ethereum chain reached $359,191,810.56 in May, the lowest level since October 2022 and a new low in 2023. In addition, the number of NFT sales on the Ethereum chain in May was 909,551, including 156,049 independent buyers and 113,170 independent sellers.

Ethereum programming languageVyperreleasedv0.3.9version

On May 30th, the Ethereum programming language Vyper released version v0.3.9, which is a patched version for v0.3.8, which fixes the code size regression of blueprint contracts and the degradation of Gas performance at runtime in v0.3.8 The problem.

other projects

Injective** community is voting on Avalon mainnet upgrade proposal**

According to news on May 29, according to the official Twitter and governance website, the community of Injective, the Cosmos ecological smart contract platform, is voting on the Avalon mainnet upgrade proposal. This upgrade will bring L1 scalability optimization, "sub-second level" ( sub-second) block time, PoS delegation transformation, if passed, it is expected that the upgrade will be carried out later this week. At present, the support rate for this proposal is 99.61%, and the voters have reached a quorum, and the voting will end on June 1.

dYdX**: Will launch multi-platform applications and open source front-end code base and related deployment scripts**

On May 31st, the decentralized perpetual contract agreement dYdX issued a document introducing how the v4 architecture and front-end work, saying that its web front-end provides an intuitive UI/UX for traders who do not want to interact with v4 programmatically. It is building three Frontend: a web app, an iOS app, and an Android app, plus Typescript and Python SDKs for advanced users/institutions. dYdX stated that it will open source all front-end code bases and related deployment scripts, allowing anyone to easily deploy dYdX front-ends through their own domain/hosting solutions.

Avalanche The number of monthly active users has exceeded 100 10,000, a record high

According to the news on May 31, according to Avascan data, the number of active users of Avalanche in May was about 1.07 million, which was the first time since Avalanche’s mainnet was launched that it exceeded 1 million.

Circle** has removed all U.S. Treasuries from its USDC backing reserve**

Golden Finance reported that stablecoin issuer Circle Internet Financial has removed all U.S. Treasury bonds from its USDC-backed reserves as part of precautionary measures to prevent the possible impact of the looming U.S. debt ceiling showdown.

The contract deployment private key of LSD** protocol unshETH has been leaked, the withdrawal has been suspended urgently and the hacker has been contacted**

According to news on June 1, the LSD protocol unshETH tweeted that at around 22:00 on May 31, one of the deployment private keys of the unshETH contract was leaked. For the sake of caution, the official has urgently suspended the withdrawal of unshETHETH. According to our security model, unshETHETH deposits (TVL up to 35 million US dollars) are protected by multi-signature + time lock and are not at risk. In addition, some subsidiary protocol contracts (farms, cross-chain bridges, etc.) have been attacked, and we are cooperating with white hat security experts from Coinbase, Stargate, Paladin Blockchain Security, Github, and ogle to ensure the safety of user funds and predict the scope of impact will be restricted. At the same time, the official has contacted the hacker to try to negotiate the return of funds and contract ownership to limit the impact on existing users. Jinse Finance previously reported that according to a number of KOL tweets, there is a security problem in the vault of the LSDFi project unshETH, reminding users to transfer funds out. The reason is that the contract owner has been tampered with. The project official has been notified, but the official has not yet responded.

Orbiter Finance**: Discord has been hacked, please do not click any links**

On June 1st, Orbiter Finance, a layer 2 cross-Rollup bridge, tweeted that Discord was hacked and is trying its best to solve it. Please don't trust any content in the Discord server and don't click on any links.

Data: The total amount of Litecoin transfers on the chain yesterday continued to rise****56.27%

News on June 1, according to Tokenview data, the total amount of Litecoin transfers on the chain yesterday reached 142 million LTC, an increase of 56.27% from the previous day. The Litecoin halving is expected to be 62 days away. At that time the block reward will be reduced from 12.5 LTC to 6.25 LTC.

Circle** will launch the native USDC on Arbitrum*****************************************************************************************

According to the news on June 1, Circle will start launching native USDC on Arbitrum on June 8, 2023. Arbitrum said that the token will become the official version of USDC recognized within the Arbitrum ecosystem and will eventually replace the current circulation of USDC from Ethereum. USDC bridge version. Arbitrum announced that ahead of the native USDC launch on June 8, Arbitrum will be renaming the Ethereum bridge version of USDC to USDC.e on the block explorer.

LINA** The total amount of open interest has reached 180 million US dollars, exceeding its market value**

Jinse Finance reported that according to Coinglass data, the total open interest of LINA has reached 180 million US dollars, exceeding its market value of 140 million US dollars.

**NFTPlatformUniverse**has stopped development, will open source code on GitHub

On June 2, 0xngmi, the founder of DefiLlama, tweeted that when checking some NFT markets, he found that the NFT platform Universe was closed last month, and now the website has become an error page. And Universe tweeted on May 17 that the project will stop development in May (but anyone can take over), and all undisclosed source code content will be made public on GitHub.