Vitalik Keeps Tabs on ZKSync Upgrade Progress as Token Price Surges Over 75% in a Day

On November 5th, based on market data, both the Japanese and South Korean stock markets witnessed sharp declines today. The Nikkei 225 index dropped by 2.50% to 50,212.27 points. The KOSPI index in South Korea decreased by 2.85% to 4,004.42 points. During today's Asia session, the South Korean stock market took the lead in losses with a decline of more than 6%, resulting in a cumulative decline of more than 7% in two days, marking its worst performance since August 2024. After a 5% drop in the Korea Composite Stock Price Index 200 futures, the Korea Exchange triggered a circuit breaker for the KOSPI index. The Nikkei 225 index fell below the 50,000-point mark for the first time since October 27th.

November 5th: SoftBank and OpenAI jointly initiated a joint venture named SB OAI Japan and are planning to go public in 2026. Sam Altman mentioned that forming a joint venture with SoftBank is a significant step that will expedite the vision of bringing advanced artificial intelligence to some of the world's most prominent companies. (Jinse)

On November 5th, based on strategicethreserve data, Bitmine (BMNR) ranked first in Ethereum institutional holdings. It is currently holding approximately 3.4 million ETH, which is worth about $11.32 billion. In the past 30 days, its holdings have increased by 20%. The average cost is $4,037, and there is an unrealized loss of about $2.4 billion. SharpLink (SBET) ranked second in Ethereum institutional holdings. It is currently holding 860,000 ETH, worth about $2.86 billion. In the past 30 days, its holdings have increased by 2.5%. The average cost is $3,609, and there is an unrealized loss of about $170 million. It is worth noting that the mNAV (Multiple Net Asset Value) of the two companies is currently 0.99 and 0.87 respectively. The current market value of Bitmine is $11.236 billion, and the current market value of SharpLink is $2.297 billion. Both are lower than the value of their Ethereum holdings.

On November 5th, Monad Co-founder Keone Hon announced that at 21:30 (UTC+8) today, the Monad testnet will upgrade from the behavioral revision version MONAD_SIX [v0.11.6-tn1] to MONAD_SEVEN [v0.12.0]. The following behavioral changes are included in this upgrade: Opcode/Precompiled Contract Pricing (the gas cost for cold storage access is increased; the cost for certain precompiled contracts is increased). Monad will complete all expected behavioral changes before the launch of the mainnet, and the full changelog will be released soon.

On November 5th, KobeissiLetter issued a market analysis indicating that nearly all asset classes are declining today, and all intraday rebound attempts are being sold off, resulting in widespread profit-taking. Nevertheless, there has been no alteration in fundamentals. Even the healthiest bull markets encounter several downturns. Although the S&P 500 index has an annual average return of 10%, it experiences at least three declines of 5% or more each year. The current scenario is that the capital expenditure of the seven giants of the US stock market will reach more than $500 billion annually. The interest rate reduction cycle has also arrived, and monetary easing has become a fact. Additionally, the artificial intelligence revolution is accelerating. Short-term declines should be regarded as noise and ignored.

On November 5th, based on HTX market data, due to Upbit's listing of the MMT KRW trading pair, MMT experienced a short-term spike reaching $1.5 and is currently trading at $1.42.