Overview
Ethereum's "Muir Glacier" hard fork successfully activated on January 2 at block height 9,200,000. This upgrade delayed the difficulty bomb, ensuring network stability for several years. Meanwhile, ETH prices show long-term bullish trends, with resistance levels at $150 and $161.
Market Analysis
1. Spot Market
Last week, ETH prices rose steadily, closing at $137.24—a 3.9% weekly gain. Key observations:
- Prices surpassed the 30-day moving average for the first time in 50 days.
- Next resistance points: 60-day MA ($150) and 100-day MA ($161).
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2. Capital Flows
- Net outflows totaled $3.27 million, down 260% week-over-week.
- Largest single-day inflow: $10+ million** (Friday); outflow: **$13+ million (Tuesday).
3. Large Transactions
- "50,000+ ETH" transfers dropped by 66%, with only one notable transaction (384,000 ETH).
Ecosystem Updates
1. Technical Developments
- Vitalik Buterin suggested a direct merge of Eth 1 and Eth 2 chains, eliminating the need for a bidirectional bridge.
- Moloch DAO launched v2, enabling multi-token functionality and improved governance.
2. DEX Performance
- Weekly trading volume across 17 Ethereum-based DEXs: 140,320 ETH ($18.94 million), down 29%.
- AirSwap led declines (-38.48%), while TokenJar surged (+36.89%).
3. Mining Metrics
- Average hash rate: 169.3 TH/s (+9.2%).
- Post-fork, block time shortened to 13.3 seconds, with daily rewards exceeding 13,000 ETH.
Key News
- Muir Glacier Activation: Difficulty bomb frozen for 4 million blocks.
- DeFi Dominance: 75% of active DeFi apps run on Ethereum.
- MetaMask Relisted: Google Play restored MetaMask after compliance review.
- Analyst Predictions: ETH could rally to $240 by mid-January.
FAQs
Q: What was the purpose of the Muir Glacier hard fork?
A: To delay the difficulty bomb, ensuring stable block times for years.
Q: How does the Eth 1 and Eth 2 merge affect token holders?
A: ETH and BETH will unify into a single token post-merge.
Q: Why did DEX trading volumes drop?
A: Seasonal liquidity shifts and reduced speculative activity.
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