According to Odaily, Taiko has announced significant progress in optimizing its protocol since the mainnet launch. The team has successfully reduced L1 gas costs by over 30% while maintaining contract upgradability. As they continue to refine gas optimization strategies, the focus is now shifting to new features and improvements. Key development areas identified include enhancing L2 EIP-1559, introducing transaction preconfirmation, implementing new transaction types such as Sponsored Transactions, supporting Cancun EVM, enabling contract use of calldata as DA, and improving minimum tier selection. Additionally, the Ontake upgrade will incorporate these features and improvements, with testing on the Hekla testnet planned before October and a mainnet upgrade scheduled for Q4 this year.

In a recent post on X, renowned cryptocurrency analyst Willy Woo shared his insights on five macro signals for Bitcoin, identifying three bullish indicators and two bearish factors. Here’s a closer look at his analysis:Bullish IndicatorsEnd of Miners Capitulation:Woo considers the end of miners' capitulation a reliable bullish indicator. With miners no longer offloading their holdings, this suggests a stabilization and potential upward momentum for Bitcoin.Hash Rate Recovery:The Bitcoin network's hash rate is recovering, coinciding with the deployment of next-generation mining hardware such as the M66s and S21 Pros. Woo notes that the hash rate is set to increase significantly, indicating network strength and miner confidence.Puell Multiple:The Puell Multiple, which measures miners' relative profit to past revenues, has hit a crucial macro bottom. This two-part signal suggests:Macro bottoms occur when mining profitability is at its lowest.A signal bottom happens post-Bitcoin halving, when miner earnings are halved, setting the stage for a bull run.Woo asserts that miners are now poised to earn substantial profits, making it a good time to invest in mining operations.Bearish IndicatorsIncrease in Coins Entering Exchanges:A significant amount of Bitcoin, notably 50,000 BTC from Mt. Gox, is being moved to Kraken. This influx is being front-run by other large transfers, potentially increasing selling pressure.Ethereum Spot ETF Launch:The imminent launch of the Ethereum spot ETF could divert capital from Bitcoin ETFs to Ethereum ETFs. The extent of this shift is uncertain but represents a bearish risk for Bitcoin.Overall OutlookWoo concludes with an optimistic view, believing that the bullish factors outweigh the bearish ones. He notes that breaking the $73,000 level could trigger a short squeeze, propelling Bitcoin to $77,000 and beyond, entering a phase of price discovery.This comprehensive analysis by Woo provides a nuanced view of the current market dynamics, highlighting the interplay between fundamental strength in mining and potential short-term pressures from increased exchange inflows and the new Ethereum ETF.