Bitcoin Breaks $90,000 to Set New High | Decentralized Finance Industry Biweekly Report

Important Developments in the DeFi Industry

Bitcoin创历史新高

This week, Bitcoin performed strongly, briefly breaking through $90,000, setting a historical new high and once again refreshing its market capitalization ranking. Bitcoin's market capitalization has surpassed Meta, firmly ranking as the ninth largest asset in the world. Analysts believe that the recent strong rebound of Bitcoin reflects an increasing market demand for crypto assets, while U.S. policies are becoming more favorable towards cryptocurrencies, adding momentum to the subsequent price trend.

SynFutures launches a new model for perpetual contracts

With the expansion of the Base ecosystem, SynFutures has launched a new perpetual contract platform, Perp Launchpad, to lower the entry barrier to the perpetual contract market with a "one-stop launcher" model. The platform attracts a large number of on-chain users, especially participants in the Restaking and Meme coin sectors, with a low Gas environment, deep incentives, and efficient liquidity management, providing a convenient trading pair release channel for new tokens.

The UK's first pension fund directly invests in Bitcoin

Recently, a pension fund in the UK made its first direct investment in Bitcoin, becoming the first of its kind in the country, with private keys managed by five independent institutions. The fund allocated 3% of its assets to Bitcoin and plans to launch a Bitcoin employee benefits program. This marks an expansion of pension fund investments in crypto assets, no longer limited to indirect methods such as ETFs.

EigenLayer advisor changes spark controversy

Ethereum Foundation members Dankrad Feist and Justin Drake announced their resignation from the EigenLayer advisory role, raising questions within the community. The two stated that this move is aimed at avoiding conflicts of interest, but there are still ongoing debates about Ethereum's neutrality within the community. Balancing interests in a rapidly evolving ecosystem remains a significant challenge.

TON hamster game user drop raises concerns

The once-popular Telegram game "Hamster Rush" is facing challenges. Data shows that the game's monthly active users have dropped from 300 million in August to 41 million, a decrease of 86%. The game token HMSTR has also plummeted 76% in a short period. Analysts believe that the game's failure to deliver on promises and delays in rewards have led to a loss of user confidence.

Ethereum launches the Mekong testnet in preparation for the Pectra upgrade

The Ethereum development team has launched the Mekong temporary test network for the upcoming Pectra upgrade. This testnet is designed to experiment with specific code changes and assess their impact on the network. Mekong includes all proposed Ethereum Improvement Proposals (EIP), focusing on enhancing user experience and network efficiency.

Solv Protocol leads Bitcoin staking standardization

With the increasing demand for Bitcoin staking, Solv Protocol has launched the staking abstraction layer (SAL) to lead market standardization. SAL provides a unified technical framework for staking, addressing the difficulties of decentralization and liquidity management in Bitcoin staking, allowing users to easily participate in cross-chain staking and earn rewards.

UniFi Layer2 Solution Innovation Exploration

Puffer Finance's UniFi Layer2 solution, centered around Based Rollup and the native AVS verification system, is designed to create a new generation Layer2 architecture. This Rollup As A Service model, based on the functionalities of the Ethereum mainnet, enhances the security and decentralization of Layer2 while expanding the market potential of Based Rollup and AVS services.

Aerodrome has become the main liquidity engine on the Base chain.

Aerodrome, as the main DEX on Base, combines innovative liquidity engines from various DEX models. Through the veAERO incentive mechanism and automated market makers, it enhances capital efficiency and addresses the liquidity and growth challenges of traditional DEXs. With close cooperation between Base and Coinbase, Aerodrome's usage rate has rapidly increased, and its market share now accounts for 63% of Base.

Decentralized Finance Data Overview

• TVL remained stable, with little change compared to last week.
• The total market value of stablecoins reached $178.22 billion, with a 7-day increase of 3.04%.
• The DEX market Uniswap remains in the top position, with impressive trading volume on the Solana chain.
• Aptos(APT) will unlock approximately 11.31 million tokens on November 11, accounting for 2.18% of the circulating supply.

Market Trend Insights

As Bitcoin hits new highs, the market anticipates that capital overflow will drive other sectors. Currently, in the DeFi ecosystem, the Restaking narrative is cooling down, and the market is shifting towards Meme asset issuance led by pumpfun. The Meme frenzy on Solana has caught the attention of the entire market, and other chains are following suit. The Base chain has seen strong net capital inflows recently, which is worth noting.

The Perp Launchpad launched by SynFutures on Base provides a contract market for low-market-cap Meme projects, promoting liquidity and capital efficiency, and can be seen as a new variant track. Investors can pay attention to the performance of native coins on the Perp Launchpad, but should be aware of the high risks associated with the combination of Meme and contracts; proper risk control is essential for long-term survival.