Encryption Morning Report: ETH has fallen below $3,000 this morning, DappRadar announces it will cease operations.

Author: Shenchao TechFlow

Market dynamics yesterday

BTC dropped below 92,000 USD this morning, and ETH fell below the 3,000 USD mark.

HTX market shows that BTC dropped below 92,000 USD this morning, currently reported at 92,151 USD; ETH dropped below the 3,000 USD mark, currently reported at 3,031 USD.

Federal Reserve Vice Chairman: The risk of rising inflation may have decreased, and the Federal Reserve's Beige Book to be released next week will provide a reference for economic outlook.

According to Jinshi Data reports, Federal Reserve Vice Chairman Jefferson spoke about the economic outlook and monetary policy, stating that the labor market shows that supply and demand are gradually cooling. As monetary policy approaches neutral interest rates, caution is needed in moving forward. The upward risks of inflation may have decreased, and the impact of tariffs could be temporary. Next week's release of the Federal Reserve's Beige Book will provide a reference for economic perspectives.

The Trump Organization plans to develop a “tokenized resort” project in the Maldives in partnership with Saudi partners.

According to Bloomberg, the Trump Organization plans to collaborate with Saudi Arabian partners to develop a luxury resort in the Maldives and intends to tokenize the hotel development project.

According to a joint statement released by the two companies on Monday, Trump International Hotel Maldives will include 80 ultra-luxury beachfront villas and overwater villas, and the project will be built in collaboration with Dar Global Plc.

Vitalik Buterin released the Kohaku privacy framework, promoting the upgrade of Ethereum's privacy protection.

According to The Block, Ethereum founder Vitalik Buterin officially announced a privacy protection framework named Kohaku at the Devcon conference. This open-source toolkit is designed to enhance the privacy and security of the Ethereum ecosystem, providing modular components that allow developers to build secure, privacy-focused wallets without relying on centralized third parties. Kohaku has integrated protocols such as Railgun and Privacy Pools, allowing users to compliantly hide funds and provide “proof of innocence”.

At the same time, the Ethereum Foundation has established a privacy team consisting of 47 researchers, engineers, and cryptographers, dedicated to making privacy an “essential attribute” of Ethereum. Buterin emphasized: “Privacy is freedom,” and Ethereum is on a “path to privacy upgrades,” aiming to provide “real-world privacy and security.”

DappRadar announces it will soon cease operations due to financial difficulties.

According to an official disclosure from DappRadar, the decentralized application data platform DappRadar has announced that it will shut down its platform services. The company stated that operating a platform of this scale is no longer financially sustainable in the current environment and, after exploring various options, has been forced to make the difficult decision to cease operations.

DappRadar was established in 2018, initially inspired by CryptoKitties, and aims to help users discover and understand the decentralized application ecosystem. During its seven years of operation, the platform has assisted millions of users in discovering decentralized applications and has collaborated with hundreds of blockchains and thousands of developers and projects. Its data has been cited by journalists, used in research papers, and shared globally.

The company stated that it will begin to gradually shut down the platform in the coming days, stop tracking blockchain and decentralized applications, and close related services. Arrangements regarding DAO and RADAR tokens will be communicated separately through DAO channels.

GoPlus: Multiple x402 projects have high-risk vulnerabilities, including excessive authorization, signature replay, honeypot traps, and infinite minting.

According to a report by GoPlus Security, the agency conducted security risk scans on over 30 x402 ecosystem projects and found that several projects had serious security vulnerabilities.

The scan results indicate that the main types of risks include excessive authorization, signature replay, honeypot traps, and infinite minting, among others. Among them, the transferERC20 function of the FLOCK project allows the owner to withdraw any amount of tokens from the contract; the crosschainMint function of the x420 project allows for unlimited minting; the manualSwap function of the PENG project allows the owner to withdraw ETH from the contract.

Several security incidents have occurred previously, including an excessive authorization vulnerability attack on 402bridge on October 28, resulting in the malicious transfer of USDC from over 200 user accounts; on November 12, Hello402 faced infinite minting and liquidity issues.

Aave Labs will launch a consumer app in the Apple App Store, offering a minimum annual yield of 5%.

According to Fortune, the decentralized lending protocol Aave Labs has announced plans to launch a consumer-facing application in the Apple App Store and has opened a user waiting list.

This application is similar to a savings account but offers higher returns, allowing users to earn a minimum interest income of 5%. It supports deposits through bank accounts or debit cards. The product operates based on stablecoins and the Aave protocol, aiming to provide decentralized financial services to ordinary users while avoiding the use of technical terms like “stablecoin” and “protocol”.

Ant International has signed a strategic cooperation memorandum with UBS, and the two parties will collaborate in the field of blockchain cross-border payment settlement.

According to the South China Morning Post, Ant International has signed a strategic cooperation memorandum with UBS, and the two parties will cooperate in the field of blockchain cross-border payment settlement.

According to the agreement, Ant International will use UBS Digital Cash, the blockchain payment platform launched by UBS last year, for global fund management operations to enhance efficiency, transparency, and security. The two parties will also explore joint innovation in tokenized deposits, including a “connectivity solution” involving Ant's proprietary blockchain platform.

Kelvin Li, the Global General Manager of Ant International Platform Technology, stated that both parties share a common belief in the potential of these technologies to transform cross-border payments.

Strategy spent over $800 million last week to increase its holdings by 8,178 BTC, bringing the total position to 649,870 BTC.

According to Bitcoin News, Strategy has acquired 8,178 Bitcoins for $835.6 million, with an average purchase price of $102,171 per coin. After this acquisition, Strategy currently holds a total of 649,870 Bitcoins, with a total acquisition cost of $48.37 billion and an average cost price of $74,433 per coin.

BitMine increased its holdings by over 50,000 ETH last week, with total holdings exceeding 3.55 million ETH.

According to PRNewswire, BitMine Immersion Technologies today announced that its total scale of crypto assets + cash + “potential investments” has reached $11.8 billion. As of 7:30 PM Eastern Time on November 16, the company's crypto asset holdings include 3,559,879 ETH, 192 BTC, $37 million worth of Eightco Holdings equity, and $607 million in unencumbered cash.

The total amount of SOL held by Forward Industries, a company listed on the US stock market, has risen to 6.9 million.

According to Business Wire, Forward Industries (NASDAQ: FWDI) has released its monthly fund update. As of November 15, the company holds 6.9 million Solana (SOL).

Since its establishment, the company has purchased 6.8345 million SOL at an average cost of $232.08 per coin, with a total cost of approximately $1.59 billion. Its validator infrastructure has achieved an annualized return of 6.82%, and almost all of its SOL holdings have been staked.

Market Dynamics

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