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Ethereum, the worlds second-largest blockchain, has set out to carry out one of the biggest updates in crypto history. The blockchain network plans to carry out a Pectra upgrade, with the promise of bringing faster speeds, smoother interactions, and a more user-friendly experience across the network. Ethereums Pectra upgrade officially launched on the 7th of […]
The Ethereum Cancun upgrade may also include several other Ethereum Improvement Proposals (EIPs), such as EIPs 4758, 6046, 6190.
Ethereum (ETH) has completed a major software upgrade, Dencun, that promises to make utilizing the network ecosystem more cost-effective. This update specifically targets Layer 2 (L2) networks, such as Arbitrum (ARB), Polygon (MATIC), and Coinbases Base, which are interconnected with Ethereum. With Dencun, transaction costs on these networks have significantly decreased, with fees dropping from [...]
The post Dencun Upgrade Officially Deployed On Ethereum Mainnet, ETH Price Holds Steady Below $4,000 appeared first on Crypto Breaking News.
The Merge describes the merger of Ethereum's existing mainnet, which employs proof-of-work, and a separate proof-of-stake blockchain dubbed Beacon Chain.
Continue reading The Merge: an Introduction to Ethereum’s PoW to PoS Transition at DailyCoin.com.
Is it good to buy Ethereum before the merge? In this article, we go over what the merge is for Ethereum and why it might be risky to buy ETH.
We can now confirm that the Bellatrix upgrade is set for September 6th, with the Merge officially beginning on September 15.
The release of the 2.0 mainnet-ready clients just went live, those running 2.0 nodes are instructed to complete all required upgrades by Sept 6th, when the Bellatrix upgrade will happen.
After this, all that's left is the ACTUAL merge to Ethereum 2.0!
Out of all the milestones behind us, I have to say the the most impressive was seeing how the community came together to meet the requirement of 524,000 Ether deposited in the 2.0 contract in order to launch, and seeing that surpassed by over 400%.
It's safe to say the crypto community is beyond ready for this to happen.
What do you need to do?If you have no idea what any of the above means, you probably don't need to do anything.
Everyone who is simply HODLing some Ethereum can relax, everything will happen automatically.
If you do know what the above means, you probably don't need us to explain anything - the only thing I've seen some people unaware of is that you'll need to have BOTH an execution client (like Besu) and consensus client (like Teku) - so make sure you do, or you'll be pretty useless to the network post-merge.
The Upgrade After the Upgrade...Once ETH2.0 is live, there's already one major change set to happen sometime in 2023...possibly 2024.
As mentioned already, a huge drop in the amount of computing power needed comes with the initial change to ETH 2.0, the following upgrade makes an equally drastic change to the amount of storage space needed.
Combine these two factors, and the doors open for phones and various other low-power computers to run Ethereum. The more devices participate, the more secure the network is.
It's called 'sharding'. In simple terms, if you wanted to operate a node (which is basically the new way to mine Ethereum) it still requires downloading the entire Ethereum ledger, the database of all transactions in the history of Ethereum. Thousands of computers maintaining this record is how 1 person trying to cheat immediately stands out, and fraudulent transactions are rejected.
Currently to mine Ethereum you'll need around 120GB disk space if running Windows, and half that if running Linux. While not a huge amounts for a computer, it's more than most mobile devices.
But with sharding, the database gets split among all the computers on the network. With a network the size of Ethereum, there's no additional security risk as a copy of every portion of the database will still exist on thousands of computers.
For those who want to get more involved...With all the excitement around ETH 2.0, many people are looking to do more, like staking their coins and starting to earn more ETH for participating.
As mentioned, nodes replace miners in ETH2.0 - and many people have an old laptop sitting in a box somewhere that is powerful enough to run one. Because they require significantly less computing power, they also use a significant less amount of electricity. Under the current system of miners, that same laptop probably wouldn't mine enough to cover the electricity costs.
You may be thinking "that sounds great" you may even have an old laptop in the closet collecting dust - well, the bad news is that in order to launch a node there's a requirement to own 32 ETH ($50,000 worth at time of publishing).
The upside is, you won't need to dust off that old laptop - you can participate in a pool. This is where any number of people, dozens, hundreds, whatever, all contribute their ETH towards reaching the required 32 to launch node, with profits split depending on the total percentage someone contributes. Many major exchanges will be running pools, some, like KuCoin are already accepting deposits and paying rewards.
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Author:
New York News Desk
Breaking Crypto News
Many crypto investors are asking why is Ethereum up while other cryptos still are in consolidation mode? The answer is a fundamental one.
“The usefulness has run its course,” the OpenEthereum team wrote regarding its popular software, “we look forward to the next phase of clean, green and massively scalable blockchain infrastructure.”
Is Ethereum up? In this Ethereum price prediction article, we analyze the potential move of Ethereum and assess where might prices reach.
Will we witness another Ethereum 10K price before ending 2022? In this Ethereum price prediction article, we're going to analyze Ethereum.
Ethereum is the most popular smart contract platform and the second-largest cryptocurrency worldwide. The further development of the network is one of the most exciting topics in the crypto world. Because despite its size and influence, Ethereum has some problems to solve. Ethereum 2.0 update is to be created.
Ethereum has had problems with high transaction fees, scalability, and in some cases, the security of the network for years. The conversion to Ethereum 2.0 should remedy this. We present Ethereum 2.0 and tell how far the development is in the transition.
What is Ethereum?Ethereum is the second-largest cryptocurrency after Bitcoin. The network was founded in 2015 by Vitalik Buterin. With Ethereum, he wanted to create a platform for decentralized, collaborative applications. The network uses the native token Ether (ETH) for transactions. Due to the growth of the Ethereum network, the value of the Ether token has increased massively in recent years.
Ethereum is characterized by its smart contract functions, which provide the basis for decentralized applications (dApps) on the Ethereum blockchain. Ethereum pioneered smart contracts, making it the blockchain of choice for developers of decentralized applications for years.
Now is a good time to invest in Ether ahead of the launch of Ethereum 2.0. Buy the cryptocurrency on the crypto exchanges Binance and Bitfinex !
What are Ethereum problems?Ethereum changed the crypto world with the introduction of smart contracts. But the blockchain also has to contend with some problems. Ethereum relied on the Proof-of-Work consensus mechanism. In this article, you will learn more about it. To sum up, Proof of Work has the disadvantage that as the network grows, transaction speeds decrease and transaction fees increase.
Ethereum has struggled with rising gas fees in recent years. Over time, the high fees made the blockchain less attractive for developers of decentralized applications. New blockchains such as Cardano, Solana, or Avalanche rely on the proof-of-stake consensus mechanism and are therefore much more scalable. Furthermore, the security on the Ethereum was good, but not excellent.
What should Ethereum 2.0 Update improve?Ethereum had to address the problems in order not to fall behind the modern blockchains. Due to its pioneering position in smart contracts, Ethereum continues to be a leader in NFTs and DeFi. However, blockchains such as Solana and Terra are massive competitors of the Ethereum blockchain.
In addition to other small improvements, Ethereum 2.0 has one important task in particular: the switch from Proof of Work to Proof of Stake. This conversion has taken place over the last few months through various upgrades that Proof of Stake was to introduce step by step.
What are the phases of Ethereum 2.0?There are roughly 3 phases in the development of Ethereum 2.0:
According to Ethereum, the launch of Ethereum 2.0 should take place in the second quarter of 2022, in June to be precise. At the moment the developers are only working on the last step, merging the beacon chain with the old Ethereum chain. At the end of this process, Proof of Work should be a thing of the past. In addition, the new blockchain should be safer, faster, and more scalable.
At the moment the development team is trying to replicate bugs in the testnet. However, the disturbances in the test net are probably of a minor nature, so the launch in June 2022 should not be at risk. A successful launch could give the Ether course a huge boost in the second and third quarters.
You can now buy ether cheaply on the crypto exchanges Coinbase and Kraken .
Store Of Value Ethereum Bitcoin© Cryptoticker
The crypto market recovered quite fast after last week's crypto crash. We did warn in this previous article about how cryptos might show weakness for a couple of days, but will recover soon afterwards just like what happened during the COVID-19 crash. Today, Ethereum price jumped 15% edging the psychological price of $3,000. Why is Ethereum up? Should you buy Ethereum today? Let's tackle everything in this Ethereum price prediction article.
Why are Cryptos up?A few days ago, the US and many EU countries agreed to ban Russian banks from the SWIFT system. This comes as one of the sanctions that were imposed on Russia for breaking into Ukrainian territories. What other alternatives are there to bypass those financial sanctions? Well, cryptocurrencies!
If Russia was to pay anyone without going through regulatory bodies, they can do so via cryptos easily. Iran is another sanctioned country that also used cryptocurrencies back when the US imposed sanctions when Trump was in office. Russia's economy is more than 10x times bigger than Iran's. When Russia starts turning to cryptos, it'll create a significant volume, thus definitely moving crypto markets accordingly.
Fig.1 Total Crypto market 1-day chart showing the jump on the Swift Ban news - TradingView Ethereum Price Boom 15%, what happened?Following the SWIFT ban, cryptocurrencies started to move higher. Ethereum, which lost significantly in value with the crypto crash, reached a very strong support area. In a previous article, we clearly highlighted why Ether was on the verge of an explosion from a fundamental perspective. Today, we see the "spot-on" results ;)
Fig.2 ETH/USD 1-day chart showing the important areas of ETH - TradingViewThe price action of Ethereum follows the perfect "Day Trader" approach. Ether price was simply testing 3 key areas of support:
Traders who managed to catch those areas knew where to place their buy and sell trades. When prices reached $2,600 and the SWIFT ban happened, traders directly placed orders, speculating that cryptos value will increase. In turn, Ethereum which is the second-largest crypto by market cap followed.
Where will Ethereum price reach next?Now that Ether price managed to reach $3,000 again, there are many important areas to look into. At a first glance, once might think the next areas are obvious. Not only should prices represent psychological prices, but they should also show a price action history around them. For Ethereum, those next targets are as follows:
If the crypto market continues to go higher, the above-mentioned areas would most probably be reached. That's why day traders can decide to place take-profits around those areas. The $2,800 represented a good buy price. If prices reach those areas we can say a new uptrend is coming, pushing prices to the long-awaited price of $5,000.
Where to Buy Ethereum?Ethereum is a popular blockchain and its native token Ether can be found on many exchanges. It is always a good idea to only deal with safe and secure exchanges. That's why we at CryptoTicker suggest using the following:
EU bonds Ethereum© CryptotickerIn the Ethereum 2.0 smart contract, which makes its depositors validators of the network, 6,805,325 5 ethers (ETH) are deposited, amounting to more than USD 21 billion -- more than the reserves of at least 120 countries.
Nearly 206 thousand addresses have deposited 6.8 million ETH, and each had to "lock" a total of 32 ethers in the smart contract.
According to the data provided by the World Bank, many Latin American countries are included among these nations. El Salvador, Cuba, Nicaragua, Bolivia, Ecuador, Costa Rica, Honduras, Paraguay, Venezuela, the Dominican Republic, Uruguay, and Guatemala all have reserves that range between USD 3 billion (El Salvador ) and USD 18 billion ( Guatemala )
APR is currently 6% and this figure is expected to decline as new validators add their ETH.
While there's many higher interest yielding crypto products, most people staking ETH believe the token itself will soon explode in value, and view this as gaining an extra 6% while HODLing.
Ethereum is up over 18% in just the last week.
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Author: Fernando Perez
Latin America Newsdesk
On-chain data shows an Ethereum metric is giving a bullish signal as the cryptocurrency’s price has broken past the $2,400 barrier during the past day. Ethereum Has Continued To Leave Exchanges Recently In a CryptoQuant Quicktake post, an analyst explained the recent relationship between the Ethereum price and data of the exchange netflow indicator. The “exchange netflow” here refers to a metric that keeps track of the net amount of the asset entering or exiting out of the wallets of all centralized exchanges. The indicator’s value is calculated by subtracting the outflows from the inflows. Related Reading: Analyst Reveals Potential Trigger For A 32% Cardano (ADA) Rally When the flow has a positive value, the inflows are overwhelming the outflows right now, and a net number of coins is moving into the custody of these platforms. One of the main reasons investors might deposit their tokens on the exchanges is for selling-related purposes. This trend can potentially have bearish implications for the asset’s price. On the other hand, the negative indicator implies the holders are making net withdrawals from these platforms. Such a trend suggests the investors may be accumulating for the long-term, which would naturally be bullish for the cryptocurrency’s value. Now, here is a chart that shows the trend in the Ethereum exchange netflow, as well as its 14-day exponential moving average (EMA), over the last few months: The value of the metric seems to have been quite red in recent days | Source: CryptoQuant As highlighted by the quant in the above graph, the Ethereum price has observed an overall bullish trend in the last few months as the 14-day EMA exchange netflow has mostly been inside the negative territory. There have been some spikes in the positive region. With these net deposits, the cryptocurrency has usually encountered some degree of resistance, implying that these transfers added to the selling pressure in the market. Recently, the indicator has assumed red values for more than a week straight, suggesting that investors have been constantly making net withdrawals. The scale of the negative spikes has also been quite significant this time, meaning that some whales are involved. Off the back of this potential accumulation from the investors, Ethereum has observed its recovery below the $2,400 level. Since the netflow has continued to be quite negative recently, it’s possible that this rally isn’t all the coin would see; there may still be potential for further upside. Related Reading: Bitcoin Coinbase Premium Is Negative: What It Means For Price Recovery Spikes back into positive territory may be to watch for; however, if the pattern followed in the past few months is to be believed, they may cause the cryptocurrency to hit at least a local top. ETH Price At the time of writing, Ethereum is trading at around $2,420, up more than 6% over the past week. Looks like the price of the asset has shot up over the last few days | Source: ETHUSD on TradingView Featured image from DrawKit Illustrations on Unsplash.com, charts from TradingView.com, CryptoQuant.com
Ethereum (ETH) has made significant strides in its 2024 roadmap with the successful launch of the Dencun upgrade on the final Holesky testnet. This is seen as a crucial step towards deploying the upgrade on the mainnet, signaling Ethereum’s progress in improving transaction efficiency, and scalability and reducing transaction fees by up to 90%. As a result, ETH has surged 2.9% in the last 24 hours, breaking its previous downtrend. Ethereum Dencun Upgrade The Dencun upgrade was first activated on the Sepolia testnet in January 2024, following its deployment on the Goerli testnet. This upgrade aligns with Ethereum’s broader strategy to enhance scalability and reduce transaction costs for its users. Related Reading: Cardano Founder Takes Jab At Solana After Major Outage Introducing the concept of “proto-danksharding,” Dencun aims to decrease transaction costs for layer-2 blockchains and address scalability challenges, paving the way for the eventual implementation of “danksharding” for further benefits. Once fully implemented, Dencun is expected to significantly increase Ethereum’s transaction processing capacity, potentially enabling the network to handle over 100,000 transactions per second. According to the networks development team, this scalability enhancement is crucial for supporting the growing ecosystem of decentralized applications (dApps) and users on Ethereum. Furthermore, Dencun will have notable technical improvements, such as the introduction of ‘blobs,’ which reduce the cost of rollups on the Ethereum mainnet by compressing transaction data off-chain. By caching data needed for short-term transaction verification, blobs aim to minimize storage and processing requirements, further enhancing the network’s transactional capabilities. Anticipation For ETH’s Market Impact The successful implementation of the Dencun upgrade holds the potential for significant implications on ETHs market value, driven by a combination of factors. Firstly, the upgrade’s enhanced network capabilities, including boosted transaction processing capacity and reduced costs, are expected to attract more developers and users to the Ethereum ecosystem. With improved scalability and lower transaction fees, Ethereum could become a more attractive platform for building dApps and conducting transactions. This increased utility and demand for Ethereum could have a positive impact on its market value as more participants seek to acquire ETH tokens. The perceived reliability and forward momentum resulting from the successful implementation of Dencun may attract more investors to consider Ethereum as an investment opportunity. The increased interest and demand for ETH tokens driven by this positive sentiment can contribute to potential price appreciation. Lastly, the anticipation of Dencun’s benefits and the reactions to its successful implementation may lead to short-term price volatility, with investors adjusting their positions based on their expectations of how the upgrade will impact Ethereum’s functionality and market position. Related Reading: Microstrategy Buys More Bitcoin: Heres How Much Profit It Holds Now All of these developments could have a significant impact on ETH’s price trajectory and position the token in a long bullish trend, if this momentum continues to be capitalized on, the next barrier at $2,450 could be easily surpassed, potentially sending ETH to new highs. While the long-term implications remain to be seen, this is a positive development for ETH bulls as the network has lacked significant catalysts and has been involved in a significant price correction for the past 3 weeks. With activations on the Sepolia and Goerli testnets already completed, the final testnet deployment, Holesky, was initially scheduled for February 7, 2024. However, it has now been rescheduled for March 2024. Featured image from Shutterstock, chart from TradingView.com
JPMorgan Chase has discussed three main catalysts driving crypto prices over the coming months. The global investment bank’s analysts believe that the Bitcoin halving event and the next major upgrade of the Ethereum network are largely priced in. JPMorgan on Catalysts Affecting Crypto Prices Global investment bank JPMorgan Chase has provided its insights into three [...]
The post JPMorgan Says Bitcoin Halving and Ethereum Upgrade Are Largely Priced In appeared first on Crypto Breaking News.
Featuring Ethereum Improvement Proposal (EIP) 1559, the London hard fork introduced significant changes to Ethereum’s transaction fee mechanism. Users now pay a base fee that is subsequently burned, effectively removing ether from circulation forever. This approach significantly impacted the token’s supply, resulting in a monthly burn rate of approximately 146,000 ETH. The London Hard Fork [...]
The post Ethereum Monthly Burn Surpasses 146,000 ETH As Total Clears $6.5 Billion appeared first on Crypto Breaking News.
Ethereum has found a lot of resistance after $2,100 as bears are ramping up their activities once more. The digital asset saw a good run last week following the Shapella upgrade given that withdrawals from the Ethereum Beacon contract were not as high as expected. However, the ETH withdrawals have increased over the weekend and [...]
The post Bears Drag Ethereum Below $2,100 Support As ETH Withdrawals Cross $2 Billion appeared first on Crypto Breaking News.
Ethereum's Shapella upgrade went live earlier in the week, along with this game a large amount of previously locked tokens becoming available for trading - all these coins potentially hitting the open market had some predicting a sell-off.
Those Who Were Predicting a Sell-Off Appear to Have Been Wrong...Concerns about a potential sell-off come from those who locked up their ETH coins for staking now gaining access to their ETH again, making them tradable - these locked coins total 15% of the total ETH supply.
If just half wanted to sell, it wouldn't have been pretty.
The upgrade has been followed by two days of price gains for ETH - up nearly 10% since the upgrade went live.
Many who said a full blown 'sell-off' was unlikely were still ready to see at least a small dip in Ethereum's price, and thinking a small dip would happen does make sense based on standard supply and demand expectations - instead, Ethereum's been on the rise since the upgrade happened 2 days ago.
The reason even we were predicting a small price decrease was that many people would be taking a loss - these people purchased in the Aug 2021 - April 2022 timeframe when sales were highest and so was ETH's $3000+ price. We assumed these people would continue holding on to their tokens for now, they see it slowly coming back up to those prices and would rather avoid taking a loss.
In previous years it feels like just the fear of a potential sell off would then actually trigger that sell off, this feels like the market is maturing. As more people get familiar with the cryptocurrency and its uses, they'll become more comfortable holding onto their tokens, even during periods of potential volatility.
Overall, another strong week for crypto!
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Author: Mark Pippen
London News Desk
Breaking Crypto News
Ethereum's Shapella upgrade went live earlier in the week, along with this came a large amount of previously locked tokens becoming available for trading - all these coins potentially hitting the open market had some predicting a sell-off.
Those Sell-Off Predictions Appear to Have Been Wrong...Concerns about a potential sell-off from those who locked up their ETH coins for staking now gaining access to their ETH again, making them tradable.
These locked coins total 15% of the total ETH supply - if just half wanted to sell, it wouldn't have been pretty.
The upgrade has been followed by two days of price gains for ETH - up nearly 10% since the upgrade went live.
Many who said a full blown 'sell-off' was unlikely were still ready to see at least a small dip in Ethereum's price, and thinking a small dip would happen does make sense based on standard supply and demand expectations - instead, Ethereum's been on the rise since the upgrade happened 2 days ago.
The reason even we were predicting a small price decrease was that many people would be taking a loss - these people purchased in the Aug 2021 - April 2022 timeframe when sales were highest and so was ETH's $3000+ price. We assumed these people would continue holding on to their tokens for now, they see it slowly coming back up to those prices and would rather avoid taking a loss.
In previous years it feels like just the fear of a potential sell off would then actually trigger that sell off, this feels like the market is maturing. As more people get familiar with cryptocurrency and its uses, they'll become more comfortable holding onto their tokens, even during periods of potential volatility.
Overall, another strong week for crypto!
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Author: Mark Pippen
London News Desk
Breaking Crypto News
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