Large Ethereum Transfer to Everstake Raises Attention (imported from Binance News)
According to ChainCatcher, data from Arkham reveals that at 16:42, a total of 23,999 ETH was transferred from an anonymous address, beginning with 0x4825, to Everstake. This significant movement of Ethereum has caught the attention of the crypto community.
Bunni Attacker Deposits 2295.8 ETH into TornadoCash (imported from Binance News)
According to BlockBeats, an address linked to the Bunni attacker has deposited 2295.8 ETH into TornadoCash. This transaction follows a previous incident on September 2, when the Bunni team suffered a vulnerability attack resulting in a loss of approximately $8.4 million. The team has since announced plans to disband in October.
BlackRock’s Bitcoin Trust Experiences Prolonged Withdrawals Amid Stable BTC Prices (imported from Binance News)
According to Foresight News, Bloomberg reports that BlackRock’s iShares Bitcoin Trust Fund has seen its longest streak of weekly withdrawals since its launch in January 2024. Despite stable Bitcoin prices, institutional demand for BTC remains subdued. Data compiled by Bloomberg indicates that over $2.7 billion has been withdrawn from the exchange-traded fund (ETF) over the five weeks leading up to November 28. On Thursday, an additional $113 million was redeemed, suggesting the ETF is heading towards a sixth consecutive week of net outflows.
Solana Protocols Face Outages Due to Cloudflare Disruption (imported from Binance News)
According to PANews, a significant service disruption at Cloudflare has led to user interface outages for several major Solana protocols, including Jupiter, Raydium, and Meteora. The incident has affected the accessibility of these platforms, causing inconvenience for users.
SpaceX Transfers 1083 BTC to New Address (imported from Binance News)
According to BlockBeats On-chain Detection, SpaceX has transferred 1083 BTC, valued at $99.81 million, to a new address after a week. The new address, identified as bc1qy…xv5g9, received 800 BTC, worth $73.71 million, and has not yet moved the funds. The tokens transferred to the new address a week ago also remain untransferred.
Ethereum Network Recovers After Validator Participation Drop (imported from Binance News)
According to Cointelegraph, the Ethereum network experienced a significant drop in validator participation following the Fusaka network upgrade. This decline was attributed to a bug in the Prysm consensus client, which disrupted a portion of the network’s voting process. The issue arose when version v7.0.0 of the Prysm client generated outdated states while processing old attestations, as explained by Prysm core developer Terence Tsao. This flaw hindered the proper functioning of nodes, prompting developers to suggest a temporary workaround using the “–disable-last-epoch-targets” flag.
Beaconcha.in network data revealed that during epoch 411,448, the network’s sync participation was at 75%, with voting participation at 74.7%. This marked a 25% decrease in voting participation, bringing it dangerously close to the threshold required to maintain network finality. However, by the time of writing, the network had largely recovered, with the current epoch (411,712) showing nearly 99% voting participation and 97% sync participation. Before the incident, voting participation typically exceeded 99%.
The decline in voting participation corresponded with the proportion of validators using the Prysm client, which was estimated at 22.71% before the incident and dropped to 18% afterward. This suggests that the attestation failure was primarily concentrated among Prysm validators. Despite the recovery, the Ethereum Foundation and Prysm developer organization Offchain Labs had not responded to Cointelegraph’s request for comment at the time of publication.
The incident highlighted the potential risks of losing network finality, which occurs if voting participation falls below two-thirds of the total staked Ether (ETH). In such a scenario, while blocks can still be produced, the chain is no longer considered finalized. This could lead to layer-2 bridges freezing, rollups pausing withdrawals, and exchanges increasing block confirmation requirements due to the heightened risk of chain reorganization. A similar incident occurred in May 2023, when the Ethereum mainnet lost finality twice within 24 hours due to bugs in the Prysm and Teku clients.
Client diversity remains a concern for Ethereum, as a bug in a single client could potentially halt network finality. Current data from MigaLabs indicates that Lighthouse accounts for 52.55% of consensus nodes, with Prysm at 18%. This represents a shift from before the incident, when Lighthouse was below 48.5% and Prysm around 22.71%. Ethereum educator Anthony Sassano noted that if the bug had affected Lighthouse instead, the network would have lost finalization.
Ethereum’s Fusaka Upgrade Promises Cost Reduction and Efficiency Enhancement (imported from Binance News)
According to PANews, the Ethereum Fusaka upgrade is drawing attention for its engineering-focused improvements, aimed at reducing costs and enhancing efficiency without introducing new paradigms or concepts. Unlike previous upgrades such as the transition from PoW to PoS or the Dencun upgrade, Fusaka focuses on practical optimizations to address specific issues.The upgrade significantly reduces Layer 2 (L2) costs, primarily associated with data availability (DA) expenses for publishing data to Layer 1 (L1). Fusaka achieves this through an eightfold expansion using Blob technology and PeerDAS random sampling verification, cutting L2 costs substantially. While some believe that reducing L2 fees alone is insufficient to boost ecosystem activity, the upgrade’s impact on specific application chains could stimulate growth in areas like real-world asset infrastructure and payment ecosystems.Additionally, the normalization of Blob fees and the introduction of a minimum Blob base fee (EIP-7918) aim to reignite expectations for ETH burning. Despite the Dencun upgrade leading to a temporary shift from deflation to mild inflation, Fusaka ensures that ETH continues to burn even when Blob demand is low, potentially returning to pre-Dencun burn levels and reinforcing Ethereum’s narrative as a global settlement layer.The upgrade also increases the gas limit to 60 million, enhancing L1 throughput. While Ethereum’s TPS improvements may seem modest compared to other blockchains, the shift from a Rollup Centric strategy to a dual-track approach of L1 settlement and L2 execution offers greater flexibility and potential.Furthermore, PeerDAS lowers the validator threshold by 85%, promoting decentralization and addressing concerns about institutional control over Ethereum. This lightweight implementation of Ethereum’s sharding concept reduces node burdens, enhances scalability, and removes technical barriers for institutional participation, potentially leading to greater involvement from traditional finance giants like Fidelity and BlackRock.Overall, the Fusaka upgrade positions Ethereum as a more mature, stable, and efficient blockchain, capable of institutional expansion, dual-track development, and capturing micro-deflationary value. The question remains whether this enhanced $ETH is worthy of renewed trust.
Hong Kong Company Invests in Stablecoin Research Center Collaboration (imported from Binance News)
According to ChainCatcher, Hong Kong-listed company Cast Empire Holdings has announced an investment of HKD 1.7 million to establish a stablecoin research center in collaboration with Hong Kong Polytechnic University. The center will focus on comprehensive research and development of regulatory-compliant stablecoins and real-world asset (RWA) tokenization. Key objectives include developing an RWA framework aligned with Hong Kong’s upcoming Stablecoin Bill and Virtual Asset Policy Declaration 2.0, as well as promoting innovations in AI-driven tokenization and real-time asset valuation models.
Binance’s New Book Aims to Simplify Crypto Literacy (imported from Binance News)
Binance Blog published a new article, introducing Binance’s latest educational initiative, the ABC’s of Crypto. This beautifully designed, illustrated A-Z book aims to demystify crypto jargon and definitions, making them accessible to a global audience. Available in 15 languages and both digital and limited-edition print formats, the book is part of Binance’s broader mission to enhance crypto literacy worldwide. As the world’s largest crypto exchange, Binance continues to lead in crypto education, offering a unique approach that combines learning with the charm of a bedtime story.
The ABC’s of Crypto is a vibrant, hardbound alphabet book that reimagines the world of Web3 for everyone, from crypto-curious millennials to parents introducing their children to digital literacy. Each letter of the alphabet is creatively illustrated with crypto-related themes, such as Bitcoin-style mountains and gold coins, making it both a conversation starter and a learning tool. The book’s design is intended to be a chic addition to any modern household, serving as a stylish crypto conversation piece while educating readers about the future of money.
Behind the book’s playful exterior lies a deeper mission. Binance, known for its extensive educational resources, aims to make crypto literacy a fundamental part of everyday life. As Binance Co-CEO Yi He explains, the book is a message of crypto literacy to the world, emphasizing the growing importance of digital assets in daily life. With nearly 300 million registered users globally, Binance is committed to making basic crypto literacy a necessity rather than a luxury. The ABC’s of Crypto is a strategic move to provide foundational knowledge as digital assets become increasingly integrated into global finance.
The book is now live in 15 languages, making it one of the most accessible crypto literacy tools available. A digital version can be accessed via the Binance iOS and Android apps, while limited-edition hard copies are available exclusively to registered Binance users. This initiative is part of Binance’s broader educational efforts, which include the Binance Academy, Learn and Earn campaigns, and comprehensive research reports. By offering these resources, Binance aims to inspire a new generation of Web3 participants, encouraging them to explore the world of crypto with curiosity and confidence.
Whether you’re a parent introducing your child to crypto basics, a Gen Z investor, or simply someone who appreciates beautifully designed books, the ABC’s of Crypto is an invitation to unlock the future of digital finance, one letter at a time.
Bitcoin Transfers Involving Anonymous Addresses and Cumberland DRW (imported from Binance News)
According to ChainCatcher, Arkham data reveals that at 16:14, 55 BTC, valued at approximately $3.2255 million, was transferred from an anonymous address starting with 168Bve to Cumberland DRW. Subsequently, Cumberland DRW moved 34.92 BTC to another anonymous address beginning with bc1qkg.
