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Binance Pool launches Bellscoin (BEL) merged mining, allowing users to mine Litecoin (LTC) and earn rewards in LTC, Dogecoin (DOGE), and BEL. (Read More)
According to Steno Research, Ethereums (ETH) days of underperformance against the wider crypto market might be numbered following the US Federal Reserves (Fed) decision to cut interest rates. Its Time For Ethereum To Shine Again Regarding price appreciation, ETH hasnt had a particularly impressive 2024. While Bitcoin (BTC) and altcoins like Solana (SOL) and Tron (TRX) have witnessed considerable price gains, ETH is still trading at its January 2024 price levels. Notably, the second largest digital asset by market cap has tumbled 48% against Bitcoin since the Ethereum merged on September 15, 2022. Related Reading: Ethereum Price Reaches $2,500 Again: Will The Uptrend Hold? For the uninitiated, the Ethereum merge was a major milestone for the leading smart contract platform as it not only changed its consensus mechanism from Proof-of-Work (PoW) to Proof-of-Stake (PoS) but also razed down the issuance of new ETH from 4% to 1% annually. As a result, there has been a net negative ETH supply growth with more ETH being burned through transaction fees than issued to stakers. Ethereums unimpressive performance against Bitcoin can be confirmed from the following chart, where the ETH/BTC trading pair has fallen to 0.04, eroding all its gains against the flagship cryptocurrency since April 2021. However, a recent report by Steno Research opines that its time for Ethereum to come back. According to the report, the Feds decision to slash interest rates might be the fuel that propels ETHs price surge in the coming months. The report references ETHs performance during the last altcoin season, where it more than doubled in value compared to BTC in less than two months. This sudden growth was powered by a sharp increase in on-chain activity stemming from rising interest in ecosystems such as decentralized finance (DeFi), non-fungible tokens (NFT), and higher issuance of stablecoins. In a post on X, Mads Eberhardt, Senior Cryptocurrency Analyst at Steno Research, said: Lower interest rates -> More on-chain activity -> Greater Ethereum transactional revenue -> Lower ETH supply growth -> Higher ETH price. Let’s go. Several Reasons For Ethereums Underperformance Additionally, the report mentions that Ethereum exchange-traded funds (ETFs) will likely outperform Bitcoin ETFs. Discussing the major reasons why BTC has overshadowed ETH until now, Eberhardt notes: The impact of U.S. spot ETFs for both bitcoin and ether, the persistent buying pressure from MicroStrategy (MSTR), and a notable decline in Ethereum’s transactional revenue in recent months. Related Reading: Ethereum In 2021 Vs. 2024: Fractal Suggests Major Breakout In Q4 Despite the headwinds it has faced, investor confidence in Ethereum continues to be strong. In a recent report, crypto exchange Bitwises CIO called Ethereum the Microsoft of blockchains, hinting it might come back by year-end after the November US presidential elections. ETH trades at $2,543 at press time, up 4.3% in the past 24 hours. Featured image from Unsplash, Charts from Etherscan.io and Tradingview.com
Two years after Ethereum's Merge, the network faces scalability and fee challenges despite environmental benefits. (Read More)
Two years post-Merge, Ethereum's transition to Proof of Stake faces challenges from Layer 2 solutions and faster blockchains like Solana and Avalanche. (Read More)
Cudos joins the ASI Alliance pending a community vote, potentially enhancing its decentralized AI and cloud computing capabilities.
Microsoft and OpenAI face similar scrutiny as Europe and the UK seek to identify the line between investment and acquisition.
Bitfarms will acquire Stronghold Digital Mining in a stock-for-stock merger valued at $125 million, expanding its energy portfolio significantly. (Read More)
Into The Cryptoverse founder Benjamin Cowen says if supply keeps increasing it will "revert" to similar levels before the Ethereum Merge in September 2022.
The initial phase of the ASI token merger sees AGIX and OCEAN tokens integrate into Fetch.ais FET with limited exchange support.
The now-rebranded Fetch.AI (FET) regained the $1.4 price range amid the market recovery and is currently testing the $1.5 resistance level. Over the weekend, the AI token saw a nearly 40% recovery and seems to be preparing for a breakout. Market watchers have predicted short and long-term targets for the token after the Artificial Superintelligence [...]
The post FET Surges 12% Ahead Of ASI Token Merger Phase 2, Can It Hit $5? appeared first on Crypto Breaking News.
SingularityNET, Fetch.ai, and Ocean Protocol officially started their ASI token merger, starting with AGIX and OCEAN being merged into FET.
The post Token merger of SingularityNET, Fetch.ai, and Ocean Protocol goes live appeared first on Crypto Briefing.
SingularityNET announces the merger dates for FET, AGIX and OCEAN into the new ASI token, aiming to create a unified decentralized AI network.
Arkham CEO Miguel Morel is set to speak at Merge Madrid, discussing crypto markets and the future of on-chain intelligence. (Read More)
Coinbase said it will not facilitate the migration of assets related to the ASI token merger, diverging from other major exchanges.
The post Coinbase opts out of ASI token merger migration appeared first on Crypto Briefing.
Binance announces support for Fetch.ai, Ocean Protocol, and SingularityNET token merge into ASI. (Read More)
Communities of developers are leveraging technology to address global emergencies, from wildfires to refugee support. (Read More)
Many crypto projects have integrated AI as part of their everyday routine since the introduction of LLMs last year.
Key Takeaways: An emergency DAO vote has been announced by Lido contributors following the detection of a compromised oracle key operated by Chorus One. The affected key, responsible for critical data reporting functions, was flagged after an alert showed a sudden depletion in its ETH balance. Subsequent investigation traced the issue to a probable private […]
The United Kingdom (UK) has proposed a new draft regulation for cryptocurrencies, aiming to establish a safe harbor for crypto companies operating in the country. The regulation seeks to provide clarity and legal certainty to the crypto industry, which has been facing regulatory uncertainties and challenges in recent years. The proposed regulation aims to create [...]
Bitcoin enthusiasts are gearing up for a potential surge to $100,000 as the cryptocurrency market shows signs of decoupling from traditional financial assets like gold. Recent trends suggest that Bitcoin is on a bullish trajectory, and traders are getting ready to capitalize on this momentum. The correlation between Bitcoin and gold has been a topic [...]
The post Get Ready for Bitcoin Rally to $100K as ‘Decoupling’ and ‘Gold Leads BTC’ Trend Emerges appeared first on Crypto Breaking News.
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