Ethereum Celebrates 9th Anniversary
It has been nine years since the Ethereum mainnet launched and the first genesis block was created. Developers and participants of the network are celebrating this important day by congratulating each other. On July 30, 2015, Stefan Tual, then CCO of the Ethereum Foundation, published a blog post officially announcing the launch of the blockchain.
In the nine years since, the Ethereum network has become one of the leading ecosystems in the industry, with its native token becoming the second-largest cryptocurrency by market capitalization, reaching $403 billion.
Happy Birthday, Ethereum!
Tether's Profit Report for the First Half of the Year
Tether, the issuer of the stablecoin USDT, achieved a record net profit of $5.2 billion during the period from January to June. The report stated that operating profit was approximately $1.3 billion, primarily from interest income on U.S. Treasury bonds. Direct investments in these instruments exceeded $80.9 billion, reaching $97.6 billion when considering cash and other equivalents (including repurchase agreements).
In this metric, Tether surpassed countries like Germany, the UAE, and Australia, ranking 18th. In terms of the speed of purchasing U.S. Treasury bonds, the company ranked third, behind the UK and the Cayman Islands. The press release indicated that management sees potential for achieving a leading position.
The remaining net profit of approximately $3.9 billion was gained from increases in the value of Bitcoin ($4.7 billion) and gold ($3.8 billion) positions. As of March 31, Tether's equity increased from $11.37 billion to $11.9 billion. Excess reserves decreased from $6.26 billion to $5.3 billion.
The company reinvested profits into strategic projects such as ecosystem development, AI infrastructure, P2P communication, renewable energy, and mining, totaling $3.5 billion (up from $4.7 billion as of March 31). Tether did not disclose details. The issuer also reported that super collateralized loans increased from $4.7 billion to $6.6 billion in the second quarter. The issuance of USDT in the second quarter increased by $8.3 billion, reaching $118.4 billion.
Solana Surpasses Ethereum in DEX Monthly Trading Volume
In July, the Solana ecosystem surpassed Ethereum for the first time in decentralized exchange trading volume, reaching $55.8 billion, compared to Ethereum's $53.8 billion. This figure does not include layer two solutions. Total protocol fee revenue approached $80 million, reaching a record $2.3 million on July 31.
Bitcoin Mining Difficulty Increases by 10.5%
The latest recalculated result shows that the mining difficulty of the first cryptocurrency increased by 10.5%, reaching a record 90.67 T. The average hash rate during this period since the last adjustment was 933.84 EH/s, with block intervals shortening to less than seven minutes. According to Glassnode data, the 7-day moving average of computational power peaked at around 637 EH/s. According to the hash rate index, the hash price immediately dropped to $48.25 per PH per day after the difficulty update.
First Transaction by Ethereum ICO Participant in 9 Years
On July 30, an Ethereum ICO participant activated their assets for the first time in nine years, transferring 2,000 ETH (approximately $6.6 million) to two new addresses. These tokens were received on July 30, 2015, when the price of Ethereum was around $0.31, more than 10,000 times lower than the current quote. The user first made two test transfers of 1 ETH each, after which they sent transactions of 10, 100, 1,000, and approximately 738 ETH to one of the new addresses, and sent 100 and 50 ETH to the other new address.
Pantera Capital: Women in the Crypto Industry Earn More Than Men
A study by Pantera Capital shows that women working in the cryptocurrency industry earn more than men. The survey, conducted in June and July with 502 cisgender Americans, found that for every dollar earned by men, women earned a median base salary of $1.15. In contrast, women in non-crypto companies earned only 84% of what men earned.
The study also found that the Web3 industry is one of the highest-paying sectors, second only to doctors and executives. The average weekly base salary for women in this field exceeds $3,000.
The authors of the study noted that the sample size is limited, and it is not appropriate to conclude that men earn less in the Web3 industry solely based on gender bias, as the number of women in the field is still small. Additionally, a survey by Pantera Capital last year found that only 3% of blockchain employees are paid in cryptocurrency.