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Over the past few days, Ethereum, the second-largest cryptocurrency, has been experiencing a tug-of-war between its bulls and bears. However, the bulls seem determined to make significant gains and surpass the major resistance level of $2000, while the bears are putting up a tough fight and driving down the price. Nevertheless, there has been a […]
The second biggest cryptocurrency, Ethereum, has been generating buzz in the past few days as the market rebounded. At the time of writing, the global cryptocurrency market is up 2%, according to CoinGecko’s latest data. This has presented a bullish signal for investors, which is certainly the reason for Ethereum’s recent price ascent. The latest [...]
The post Ethereum Poised To Breach $2,000 Ceiling In Coming Months – Here’s Why appeared first on Crypto Breaking News.
Ethereum (ETH), the second-largest cryptocurrency by market capitalization, has experienced a significant increase in deposits on centralized exchanges (CEX) over the past two months, with $383 million of Ethereum (ETH) deposited into these cryptocurrency exchanges, according to data from IntoTheBlock. One of the largest deposits came from a single address, about 61,216 ETH since the […]
Ether erases gains from Shanghai upgrade as Bitcoin faces a 10% drop in a week. Discover the factors behind these price movements.
The post News Bit: Ethereum Price Update: Ether Loses Shanghai Gains as Bitcoin Slumps 10% appeared first on BitPinas.
Core developers of Ethereum have launched the first mainnet shadow fork to determine the preparedness of the ETH staking withdrawal feature. This marks a step forward in enabling users to access more than $26 billion worth of staked ETH in March as planned. Announcing the same, Marius Van Der Wijden, an Ethereum Foundation software developer, claimed […]
Ethereum (ETH) core developers successfully launched the shadow fork for the Shanghai update on January 23.
The post Ethereum developers deploy Shanghai upgrade ‘shadow fork’ appeared first on CryptoSlate.
Trackers on January 18 show that the native token of Rocket Pool, RPL, rallied 55% and is among one of the top performers in the top 100 coins by market capitalization. Rocket Pool is Rallying after Binance Listing The surge coincides with RPL’s listing on Binance, the world’s largest cryptocurrency exchange by trading volume. The token is paired against USDT, the stablecoin issued by Tether Holdings, which is also the most liquid in crypto circles, and BUSD. Related Reading: Optimism Sees Spike In USDC And USDT Transactions Eclipsing $1 Billion However, the surge registered earlier today has since been reversed. Data showed that the project’s market cap is $675.1 million, and RPL is up 9% versus the USDT. At the same time, it outperforms bitcoin (BTC) and ethereum (ETH), adding roughly 10% versus the top most liquid cryptocurrencies. Listing on Binance opens the token to more liquidity, allowing traders and investors who might not be familiar with the intricacies of DeFi trading to purchase the token. Before being availed on Binance, RPL was available for trading in most decentralized exchanges, including Uniswap, Bancor, and Balancer. However, RPL had been listed in exchanges within the United States, including Huobi, Coinbase, Kraken, and MEXC Global. Hard work of the @Rocket_Pool team paying off with a @binance listing today. A project we have remained bullish on for many years with $RPL up 100x since first covering. The next market cycle is now about decentralising all layers of the $ETH stack. ??????? — Alex Saunders ????????? (@AlexSaundersAU) January 18, 2023 By springing to spot levels and clearing immediate liquidation zones, printing new monthly highs, it can be interpreted that the community received the listing positively, expecting more developments in the next few months. This can be especially the case considering the market’s state and Rocket Pool’s role in Ethereum. Related Reading: Why Are Liquid Staking Cryptocurrencies Seeing Double-Digit Gains? After the slumps of 2022, RPL, like most crypto and DeFi tokens, fell from record highs. As an illustration, RPL tanked 76% from April highs, bottoming up in mid-June before rallying to spot levels. Despite the blips of early November, triggered by market-wide fears of FTX and Alameda’s collapse, RPL is back to April’s territory. Improving Macroeconomic Factors and Shanghai Upgrade The sharp reversal and change in fortunes for RPL can be attributed to various fundamental factors. At the top of the list, possibly explaining the rise across the financial markets is shifting macroeconomic factors. Statistics indicate that inflation is falling from multi-year highs, influencing central banks’ decisions on implementing their monetary policies. The confidence amongst investors and traders spilled over the crypto, helping pump BTC and altcoins, including RPL. Rocket Pool has more tailwinds because of the upcoming Shanghai Upgrade in Ethereum and what the protocol inherently solves. Rocket Pool allows ETH holders to stake, slashing capital and hardware requirements, which can be otherwise prohibitive. ETH holders can stake as low as 0.01ETH to a node operator and earn annual rewards. In Rocket Pool, a node operator must hold 16 ETH. Once Ethereum permits users who had locked their coins in the Beacon Chain to withdraw, some may delegate coins via Rocket Pool. This expectation supports RPL and other staking service providers, including Lido DAO. As NewsBTC reported, Lido DAO’s native token, LDO, has been rising in recent weeks, spearheading the broader market recovery. Featured image from Flickr, Charts from TradingView.com
The Ethereum co-founder expects to reach a new milestone for rollups this year.
Ethereum’s upcoming Shanghai upgrade is scheduled to go live on March 2023, ETH core developers revealed at a recently concluded meeting. The Ethereum Foundation published a pre-Shanghai testnet for the official release on October 14, 2022. The Ethereum Improvement Proposals [EIPs], commonly known as “Shandong,” is to be tested and polished on this testnet before […]
Ethereum (ETH/USD) developers have an opportunity to start working on the next upgrade for the proof-of-stake network, thanks to the launch of a test network that would make this possible.
On Monday, it was announced that core developers at Ethereum had unveiled “Shandong” the testnet, for the blockchain network’s Shanghai upgrade.
The testnet is set to allow developers test their protocols before Shanghai goes live – the first upgrade for Ethereum post-merge that’s estimated to take place in 2023.
Ethereum Improvement Proposals (EIPs)As the testnet launches, Ethereum developers are looking at multiple improvement proposals for Shanghai. Among these Ethereum Improvement Proposals (EIPs) are considerations regarding network efficiency, scalability and gas prices.
One of the EIPs, EIP-4895, looks at Ether staking – particularly, staking of native coin ETH and how those who sent coins to the Beacon Chain can withdraw their staked funds.
As it stands, those who sent ETH to the Beacon Chain cannot withdraw their assets or earned rewards. According to Glassnode, the total value in the ETH 2.0 deposit contract hit a new all-time high today, clocking over 14.2 million ETH.
?? #Ethereum $ETH Total Value in the ETH 2.0 Deposit Contract just reached an ATH of 14,279,287 ETH
View metric:https://t.co/SzbMPqvPaJ pic.twitter.com/ioTRYqWj92
The post Ethereum launches testnet for upcoming Shanghai upgrade appeared first on Invezz.
Ether (ETH), the native cryptocurrency of Ethereum, a decentralized blockchain with smart contract functionality, attracted only US$0.3 in digital asset investment product inflow last week despite the Shapella Upgrade last Wednesday. There was also “little activity” in altcoins except Polygon, which saw US$2.1 million of outflows last week.
The Shapella Upgrade, also called the Shangial Upgrade, is an hard fork that enabled ETH stakers on Ethereum to withdrawal their staked ETH from the Beacon Chain, a blockchain launched on Ethereum in December 2020. The upgrade is the latest major upgrade to the Ethereum blockchain sincethe Merge in September last year.
ETH Investment Inflows Lower than Pre-Upgrade
According to the latest Digital Asset Fund Flows report by CoinShares, Europe’s largest digital asset investment and trading group, Bitcoin continues to be the almost sole focus of investors as investment inflows into the digital assets reached US$104 million last week.
In the week before the Upgrade, CoinShares observed that ETH got only “relatively minor” investment inflows, with the figure coming in at US$0.6 million. In other words, the inflow last week is even smaller than the pre-Upgrade week. Bitcoin during the week generated US$56 million of inflows, representing 98% of all inflows in that week.
Meanwhile, total inflows into digital asset investment products last week reached US$114 million. CoinShares report notes that the figure shows continued improvement in investor sentiment towards digital assets.
However, the improving sentiment comes at a time of very low volumes in the Bitcoin market, the report noted. Furthermore, inflows into digital assets over the last one month totaled US$345 million, the report said.
“We believe this is a flight to safety by investors fearful of the ongoing traditional finance challenges. Opinion remains divided though, with short bitcoin seeing inflows totaling US$14.6m last week,” CoinShares explained.
ETH Sees Price Rise, Token Withdrawal Tops 1M
Meanwhile, after the Shapella Upgrade last Friday, ETH topped $2,000, reaching its highest point since August 2022. In a survey conducted by cryptocurrency exchange OKX before the Upgrade, 63% of respondents (who are members of Ethereum) said they expect ETH price to peak at over US$5,000 by the end of 2023.
As of press time, Ethereum went down by 2.27% in the last 24 hours, according to CoinMarketCap. However, the native cryptocurrency still maintains its over $2,000-plus milestone. The market cap of the currency also currently stands at about $248.6 billion.
Meanwhile, ETH withdrawals topped 1 million tokens on Sunday, four days after the April 12, 2023, upgrade. As of press time, beaconcha.in data's shows that 1.05 ETH has been withdrawn from the Ethereum-based Beacon Chain, with 541, 725 withdrawals processed.
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This article was written by Solomon Oladipupo at www.financemagnates.com.The long-awaited Ethereum’s Shanghai hard fork now has a target date of April 12, thanks to its core developers. The deadline- 10:27:35 UTC on April 12, epoch 620,9536 will be formally announced by developers on GitHub. The Shanghai upgrade will ultimately allow validators to withdraw their staked ether as well as any incentives received from […]
Following the market bounce this week, Ethereum (ETH) has been one of the most profitable tokens with better market performances than most altcoins, including Cardano(ADA), Dogecoin (DOGE), and Solana (SOL). The second-largest cryptocurrency by market cap began the week trading around the price region of $1,588 before rising by about 12% to almost hit the [...]
The post Ethereum Maintains Bullish Form As Developer Confirms Date For Shanghai Upgrade appeared first on Crypto Breaking News.
Let's take a look at the top Ethereum layer 2 coins and how they might be impacted by the Ethereum Shanghai Upgrade.
Featured SpeakerDeep Dive: EthereumProtocol VillageAustin Convention CenterJoin an hour long exploration of the advancements defining the Ethereum community in 2023.Omkar Godbole is a Co-Managing Editor on CoinDesk's Markets team.Featured SpeakerDeep Dive: EthereumProtocol VillageAustin Convention CenterJoin an hour long exploration of the advancements defining the Ethereum community in 2023.Ether rose to $1,994 on Thursday, reaching the
The post Ether Nears $2K After Shanghai Upgrade, Outshines Bitcoin appeared first on BTC Ethereum Crypto Currency Blog.
Ethereum's Shanghai upgrade has led to concerns among investors, particularly regarding a potential sell-off of tokens unlocked after the upgrade, causing uncertainty in the market. Meanwhile, Bitcoin's dominance rate continues to rise and is currently at the highest level since July 2021. (Read More)
The Ethereum Shanghai upgrade promises to make Ethereum more scalable, faster, and more secure.
The analytics firm backed up its prediction, stating only 253 validators have signed up to fully exit their staked Ether position.
The Shanghai upgrade is set to take place on April 12 at 11:27 PM UTC.
Justin Sun, the co-founder of Tron, withdrew 30,000 ETH, worth roughly $56 million, via two addresses via Lido, a liquidity staking service provider, on July 10, Lookonchain reveals. Following his move, his Ethereum stake via Lido is down to 263,294 ETH, or $491.6 million at spot rates. Justin Sun Unstakes From Ethereum Lookonchain, a blockchain analytics platform, notes that between February 25 and 27, Sun staked 288,100 ETH, or $538 million, and earned 5,194 ETH, or $9 million. This translates to average daily earnings of 38 ETH, or $72,000, going by the annualized percentage yield (APY) of around 4.87% offered by Lido on Ethereum stakers. Related Reading: Narrow Bitcoin Price Range Suggests Explosive Move Ahead The reasons behind Sun’s withdrawal of 30,000 ETH from Lido are unclear. It could indicate his intention to sell some of the ETH, transfer to a different staking platform, or even run his private Ethereum validator node. Despite this transfer, Sun remains one of the largest stakers at Lido, accounting for over 9% of the total ETH staked. While Sun’s decision to unstaked and transfer coins may be a cause of concern, ETH prices are firm when writing on July 10 and edging closer to $1,900. Contrary to fears ahead of the Shanghai upgrade in mid-April, the number of users staking ETH remains upward. Trackers show that over 21 million ETH has been locked by over 657,000 validators as of July 10. With the Shanghai upgrade implemented, ETH holders who had staked at least 32 ETH in the Beacon Chain from December 2020 can withdraw their assets. Despite earlier fears that more coins will be withdrawn and sold in the spot markets, impacting ETH prices, more validators and more coins have been locked on the Beacon Chain and other staking solutions. Will The SEC Dampen Coin Staking? Lido, the leading staking provider for ETH, is the largest decentralized finance (DeFi) protocol by total value locked (TVL), according to DeFiLlama. As of July 10, Lido managed over $14.6 billion of assets, most of which are ETH. Over $14.5 billion of ETH have been delegated and locked through Lido infrastructure. In Lido, users can stake ETH and other supported coins without needing lock-up periods or meeting high requirements, making it an attractive option for some investors. In lawsuits filed against crypto exchanges Binance and Coinbase in early June, the United States Securities and Exchange Commission (SEC) alleged that some proof-of-stake coins, including Cardano’s ADA and Algorand’s ALGO, were unregistered securities. Related Reading: Solana (SOL) Tallies 10% Gains On Weekly Chart – Will It Cross $25? Following this assessment, their prices tanked, even impacting ETH. This is partly because Ethereum is now a proof-of-stake network after transiting from a proof-of-work algorithm and uses the same consensus system as those employed by competing smart contract platforms accused of issuing unregistered securities. The situation is worsened by Gary Gensler’s failure to clarify whether ETH is a utility like Bitcoin. Cover image from Canvas, chart from Tradingview
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