Vitalik: New EVM Chains Should Be Innovative and Faithful to Ethereum, Avoid Blindly Copying
On February 5, Ethereum co-founder Vitalik Buterin noted in a post that many new EVM-compatible chains either copy existing architecture or connect to Ethereum via an optimistic bridge with a one-week delay. This approach is like blindly copying Compound’s governance model—comfortable in the short run, but it stifles innovation long-term, pushing the ecosystem into a dead end. If a new chain has no optimistic bridge to Ethereum (i.e., a standalone L1 alternative), the situation is even worse. What the ecosystem actually needs are projects that bring new features: privacy protection, app-specific efficiency, or ultra-low latency, for example.
An “Ethereum connection” needs to align with real functionality. Take prediction markets: apps can issue and settle markets on L1, manage user accounts, but execute transactions on a rollup or L2-like system—with L1 validating signatures and market state. Architectures that deeply integrate with L1 should be prioritized over just formal bridges
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「Abraxas Capital」 continues to add to its short position on gold, with holdings across two addresses now totaling $18.8 million
February 5th: Per HyperInsight monitoring (https://t.me/HyperInsight), Abraxas Capital’s main address (0x5b5) continued to expand its short position in xyz:GOLD (the gold mapping contract) as spot gold traded around $4,867. The position size now stands at $9.18 million, with an average entry price of $4,786 and a liquidation price of $6,785.
Additionally, its subsidiary address (0xb83) currently holds a 5x leveraged short position in xyz:GOLD, with an average entry price of $4,887.
Abraxas Capital was once Hyperliquid’s largest contract whale. Since November, the address has been continuously realizing profits, with its position size plummeting from a peak of $920 million to roughly $60 million today.
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DWF Founder: Cryptocurrency Market Has Almost Reached a "Bottom," Behind-the-Scenes M&A Activity Is Very Active
**DWF Labs Founder: Crypto Near Bottom; Key Market Trends Unpacked**
Feb 5: DWF Labs founder Andrei Grachev said in a post the crypto market is nearly at its bottom, with Bitcoin potentially seeing a ~15% price fluctuation. This doesn’t guarantee only upside, but it will attract more capital to the space.
While professional investors keep deploying funds—especially into real-world assets (RWA) and projects with "large-scale, bold visions"—direct market buy-in is scarce. Grachev notes launching new projects to gain traction is far easier than reviving old ones, so most altcoins will rally post-bear market. Only projects with tangible business/commercial progress will rise naturally with future market growth.
Retail volume (dubbed "fool’s trading") now flows mostly to PumpFun, with some to Polymarket—but this won’t reshape the market. When recovery starts and prices climb, these traders will follow whales’ current buys and the new tokens Grachev highlighted.
Behind-the-scenes
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CZ Counters FUD Spreaders: Billions of Dollars in Net Inflows to Binance in the Past Month
On February 5, Binance founder CZ took to social media to note: "Binance has seen net fund inflows totaling billions of dollars over the past 1 day, 7 days, and 30 days. However, those spreading panic have experienced the opposite outcome."
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Current mainstream CEX, DEX funding rate displays a weakening bearish market sentiment
February 5: Bitcoin continues to decline, with the key $70,000 level at risk, according to Coinglass data. Funding rates across major centralized (CEX) and decentralized (DEX) exchanges suggest bearish sentiment is easing (see attached image).
Note from BlockBeats: Funding rates are set by crypto exchanges to align contract prices with underlying asset prices, typically for perpetual contracts. They facilitate fund transfers between long and short traders—exchanges do not charge this fee. The rate adjusts traders’ holding costs or profits to narrow the gap between contract and underlying prices. A 0.01% rate is the baseline: above 0.01% signals bullishness, while below 0.005% signals bearishness.
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