xtremely

Ethereum co-founder Vitalik Buterin published the proposal "The Extremely Lean Chain," demonstrating how to radically compress the state requirements of the Ethereum consensus chain in the context of the "Lean" upgrade. This plan shifts responsibility to validators, who manage and periodically prove their state through ZK proofs, thereby eliminating the processing burden for each epoch and potentially supporting millions of validators.The core mechanisms include: removing the validator public keys from the on-chain state, storing only the deposit tree index; canceling real-time reward and penalty processing, with validators generating daily STARK proofs of their participation and updating balances; completely re-randomizing validator identities daily, achieving strong anonymity through ZK-STARK, with withdrawal addresses exposed only at the time of withdrawal and not publicly linked to deposits or on-chain activities. Vitalik stated that based on upgrades such as single-slot finality and quantum-resistant signature aggregation, the state requirement per validator could be compressed from approximately 180 bytes to 6 bytes. The daily proof cost for a single validator requires processing about 5400 Merkle branches, which can be completed within 1 hour on ordinary hardware, and the on-chain burden can be reduced through aggregated proofs. Additionally, this design can achieve a "virtually free" single secret leader election function, with 1 day as the conservative cycle length and 1 hour as the lower limit.

CryptoQuant analyst Darkfost pointed out that Bitcoin's Sharpe ratio has once again reached an extreme negative territory, slightly rebounding after falling below -20. The Sharpe ratio is used to measure the relationship between investment risk and return, with a negative value indicating higher risk relative to current returns, which aligns with Bitcoin's third consecutive quarter of decline (with the latest quarter down 16.1%).Historically, such extremely pessimistic periods often last for several weeks to months and correspond to a new bottom-building phase, followed by a price restart. The analyst stated that the data suggests we are currently approaching this phase, but it is important to note that this observation belongs to a long-term time frame.

According to analyst Darkfost's data, Bitcoin has retraced and fallen below the 4% percentile of the Power Law model, entering an extremely undervalued range, a valuation level that has historically been present only 4% of the time. Darkfost emphasizes that this is a suitable time for long-term position building, not a short-term price prediction.

A source familiar with SK Hynix said on Thursday that the company informed investors this week that it is benefiting from strong demand for advanced storage semiconductors required for artificial intelligence data center operations, and its proposal for a U.S. listing has received "very positive" feedback.Reports indicate that the South Korean memory chip manufacturer has secretly submitted an application this year, planning to list in the United States. Sources indicated in March that this move could raise up to $14 billion. Additionally, as the review by the U.S. Securities and Exchange Commission is still ongoing, no specific updates regarding the listing process can be provided at this time.

CryptoQuant stated that Bitcoin's recent trend is similar to the bear market rebound phase in March 2022, with market demand still weak and sentiment indicators having fallen back into the "extremely pessimistic" range.The report pointed out that Bitcoin's recent rebound was blocked near the 200-day moving average at around $82,400, and then it fell back to around $76,000. CryptoQuant believes this trend is similar to that in March 2022: at that time, Bitcoin rebounded 43% from its low but also encountered resistance at the 200-day moving average and re-entered a downward trend.Julio Moreno, head of research at CryptoQuant, stated that during a bear market, the 200-day moving average is usually a key dividing line between "rebound markets" and "trend continuation." If Bitcoin cannot effectively break through this moving average, it may indicate that the bear market structure has not yet been broken.

The Spark strategy chief monetsupply.eth tweeted criticism of Aave's decision to unfreeze the core Ethereum WETH market, arguing that this decision is poorly considered under current conditions. After the unfreezing, it will allow LST/LRT holders to establish extremely high-yield looping positions, resulting in continuous liquidity shortages for aEthWETH, making it difficult for ordinary users to withdraw normally.Taking weETH looping as an example: weETH is currently trading at a 0.5% discount, and if it returns to par within a month, the implied yield is about 6%. Combined with the basic staking yield, the total yield can reach 8%. Meanwhile, the maximum borrowing rate for core ETH on Aave is 5.15%, allowing loopers to earn an additional 2.85% yield; weETH can be leveraged up to 14 times, resulting in a maximum annualized yield of about 45%.He believes that this essentially provides LST/LRT loopers with a "free lunch," while further deteriorating the user experience for aWETH holders and stablecoin borrowers.

Gate's "Racing the Future" outdoor crossover exhibition held at K11 MUSEA's waterfront promenade in Victoria Harbour, Hong Kong, is gaining momentum, with media day and public opening generating significant attention. On the first day of the media day, hundreds of stars, KOLs, and media attended, with the highlight being the unveiling of a giant driver helmet for Max Verstappen, sparking a wave of interest both on-site and online.After opening to the public on the 18th, the number of visitors significantly increased, with over ten thousand attendees on the first day. A large crowd continued to gather along the Victoria Harbour, creating a vibrant exhibition atmosphere. The exhibition prominently features the F1 Red Bull Racing Team's brand new car and core equipment for 2026, and through immersive interactive experiences, it visually presents the engineering of racing and speed culture, attracting many visitors to stop, participate, and take photos.It is reported that Gate will also hold the "Gate 13 Blue Carpet Ceremony" on April 20, where the F1 Red Bull Racing Team's display car will be unveiled along with brand collaboration showcases. That evening, Gate will host a high-end anniversary dinner at the Rosewood Hong Kong, with platform founder and CEO Dr. Han in attendance. Over 300 representatives from top industry institutions and partners are expected to be invited for networking.Gate Live will start the live broadcast of the blue carpet ceremony on April 20 at 17:30 (UTC+8), and will simultaneously broadcast the Gate 13 anniversary high-end dinner event at 20:00 (UTC+8), inviting several industry guests to participate in discussions and interactions, providing frontline perspectives and the latest insights.

According to Jin Shi reports, Federal Reserve's Paulson stated that it is extremely important to keep long-term inflation expectations stable.

Coinbase Institutional published an analysis on platform X, pointing out that amidst recent geopolitical turmoil disrupting traditional financial markets, sentiment in the crypto market may be shifting, especially with Bitcoin showing relatively strong performance.Since the beginning of this year, Bitcoin's performance has outpaced the U.S. stock market, and market views suggest that the crypto market may be gradually emerging from a "period of extreme pessimism." The latest macro data indicates that U.S. non-farm employment growth is cooling, challenging the previous narrative that "the labor market remains resilient." Meanwhile, Bitcoin's value proposition as a relatively independent asset may be further enhanced in the eyes of institutional investors. Additionally, the rise in systematic leverage ratios reflects an improvement in participation in the crypto market. However, the market remains cautiously optimistic, with investors still waiting for further confirmation of the trend and continuously monitoring whether market participation can support a sustained upward trend.

OpenAI founder Sam Altman released a content summary after the latest AMA. In response to what would happen if the U.S. government attempted to nationalize OpenAI or other AI projects, Sam Altman stated that he could not predict the outcome. While it may be more appropriate for the government to lead the development of AGI in the long term, nationalization does not seem highly likely given the current trajectory of development.However, he emphasized that establishing a close collaborative relationship between the government and AI companies is "extremely important." People often take the "assurances" regarding safety for granted, but they tend to underestimate the significant investment and effort required behind them. He believes this is generally a good thing, but more respect and understanding are still needed.

According to market news, BitMine purchased a total of 40,000 ETH from FalconX and BitGo on Monday, worth $84 million, at a trading price of approximately $2,090.As of last weekend, BitMine held 4,325,738 ETH, with a total value of $914 million. The company has currently achieved 72% of its goal to acquire 5% of the circulating supply of Ethereum. Additionally, BitMine has staked about 67% of its ETH holdings, generating an annual income of $202 million.Tom Lee stated that the best investment opportunities in cryptocurrency often arise after a decline. Given the strengthening fundamentals of Ethereum, this market correction presents an attractive entry point, and the current ETH price does not reflect its high utility as a core of future finance.Regarding BitMine's significant unrealized losses, Tom Lee pointed out that this is an expected component of the Ethereum treasury strategy during market downturns, as the company aims to achieve excess returns through a complete market cycle.

Web3 asset data platform RootData announced through the X platform that its 3rd and 4th transparency bounty activities have received over 670 pieces of community feedback.RootData stated that during the review, multiple AI-generated data entries were found, and after rigorous verification, most will be marked as invalid, mainly involving token unlocks and key calendar data. RootData encourages participants to make good use of AI tools, but they must adhere to a rigorous and realistic data attitude to ensure the accuracy and reliability of the information.It is reported that the ongoing bounty activities of the platform focus on Binance spot and contract projects, as well as the 2026 listings of second-tier exchanges such as HTX, Bitget, Gate, and Bybit, promoting the transparency and credibility of the crypto ecosystem through community collaboration. For more details, see:《Phase 3: Dig Deep into Binance Spot & Futures Projects Transparency Over the Past Year》《Phase 4: Review the Transparency of Exchange Listings in 2026》

BitMEX co-founder Arthur Hayes posted that if the relevant news is true, it would be "extremely bullish" for Bitcoin (BTC). He analyzed that the logical premise is: the Federal Reserve creates bank reserves through "money printing," then sells dollars to buy yen, thereby indirectly intervening in the yen exchange rate.Hayes pointed out that if the Federal Reserve is indeed manipulating the yen, its balance sheet will show growth in the "foreign currency denominated assets" category, which can be verified in the H.4.1 report published weekly. This viewpoint stems from the recent largest single-day increase in the yen in nearly six months, with the market speculating that Japanese authorities may be preparing to intervene in the exchange rate, while some traders claim that the New York Fed has conducted "rate checks" with major banks, raising associations with the Federal Reserve's involvement.

Fitch Ratings warns that due to price volatility, structural complexity, and counterparty risk exposure, Bitcoin-backed securities carry a high market value risk, as these instruments rely on Bitcoin as collateral, and their liquidation trigger mechanisms may amplify losses.The bankruptcies of previous cryptocurrency lending institutions and the extreme volatility of Bitcoin (such as the 49% crash in March 2020) highlight the importance of adopting conservative financing strategies and sound risk management.

According to Jinshi, former U.S. Treasury Secretary Yellen stated that the investigation by Federal Reserve Chairman Powell is "extremely concerning," and the market should pay attention to the independence of the Federal Reserve.

Vitalik Buterin posted on the X platform that enhancing bandwidth is safer and more reliable than reducing latency. With the help of PeerDAS and ZKP, Ethereum's scalability can increase by thousands of times, and this does not conflict with decentralization. However, latency is constrained by physical laws and real-world environments, especially when supporting global home nodes, censorship resistance, and anonymity.He pointed out that reducing latency to a range of 2-4 seconds is a reasonable goal, while applications requiring higher real-time performance (such as AI-driven ones) will rely on L2 and "city chains" for localized scaling.

According to the “RootData 2025 Web3 Industry Annual Report”, the financing layout shows a strong tendency towards "TradFi", with the CeFi sector leading with a total of $27.12 billion, and the average single financing amount is 8.7 times that of infrastructure.In contrast, the Web3 native sectors such as NFT, DAO, and social entertainment account for only 0.5% in total, collectively entering a marginalized phase. Funds are accelerating towards regulated-friendly projects with clear cash flows (such as RWA and compliant CeFi).

OKX founder and CEO Star responded to the DeBot security incident on the X platform, stating: "The theft of wallets is due to several common situations. The centralized risk of private keys in DEX Bot-like products involves related products uploading user private keys to servers, stored in plaintext or decryptable forms. Once a hacker intrusion occurs, the risk level is effectively equivalent to that of an exchange, so the security standards for such products must meet exchange-level standards; otherwise, the risk is extremely high. There are also risks from code vulnerabilities in self-custody wallets or malicious intent, user terminal devices being compromised or data leaks, and structural reliance of automated strategies on private key custody."Star further stated that the correct evolution direction for wallet security is that the security of private keys and usability are not opposing relationships.