Tag: ethereum (eth) news

Summary: Developers finalized the 'Withdrawal-Mainnet-Shadow-Fork-1' on Thursday. The move marks the first major test phase for Ethereum's hyped Shanghai updated in March 2023. ETH Developer Marius Van Der Wijden noted configuration difficulties on Geth but said progress is underway. Ethereum developers announced a ‘shadow fork’ of the Shanghai update built to test the withdrawal of Staked Ether (ETH) from crypto's leading altcoin blockchain....

Summary: The Raydium exploiter drained a total of $4.4 million in digital assets from the Solana DEX in December 2022 before moving the funds to Ethereum's blockchain. A wallet controlled by the hack transferred $2.7 million of the stolen loot to sanctioned crypto mixer Tornado Cash on Thursday. The incident was one of several attacks on the decentralized finance ecosystem throughout last year....

Summary: The Ethereum Name Service governance proposal aims to create an extra runway for the project should the crypto market suffer another downturn. 10,000 ETH would be sold for Circle's USDC via a Gnosis auction, Wednesday's proposal suggested. ENS DAO held around $2.4 million in stablecoin and some 40,000 Ether in its treasury at press time. A member of the Ethereum Name Service...

Summary: Validators on the network increased from 428,000 around September 15 when Ethereum upgrade from proof-of-work to proof-of-stake. The news comes ahead of staked Ether withdrawals expected to roll out with the Shanghai update in March 2023. Validators have staked over 16 million ETH worth roughly $25 billion with Ether trading around $1500 on Tuesday. According to BeaconScan data, the number of validators...

Summary: Coinbase Director Conor Grogan spotted Ether transfers to the "FTX Accounts Drainer" with private notes on how to move the assets undetected. The hacker was advised to leverage less popular and more privacy-based crypto mixer protocols. The U.S. Justice Department launched an investigation into the matter after nearly $400 million was stolen from Sam Bankman-Fried's bankrupt crypto exchange. In a bizarre turn...

Summary: Ethereum developers had their weekly call to discuss what features should roll out in the next hard fork. Marius Van Der Wijden said coders were already working toward staked Ether withdrawals prior to the call. Developers will proceed with around eight Ethereum Improvement Proposals for Shanghai, the next technological upgrade. The timeline for the upgrade was unclear at press time. Developers at...

FTX hacker reportedly swapped around $50M of $Dai to $Ethereum in a state of "panic" according to intelligence firm Arkham. It is rumored that this hack is an inside job, with Kraken CEO Nick Percoco confirming that they know the identity of the attacker. According to security firm Hacken, the hacker has had to have access to the private keys to exploit FTX's...

Summary: Uniswap's trading volumes for Ether skyrocketed to $1.21 billion, beating centralized exchange Binance. $31 billion worth of transactions happened at decentralized exchange venues over the past week. "Not your keys, not your coins" crypto participants echo as FTX's crash unravels further. Decentralized cryptocurrency exchange Uniswap facilitated over $1.21 billion in Ethereum transactions as of Monday, up 80% in the past 24 hours....

Summary: Ethereum layer 2 solutions hit a landmark for weekly transactions as scaling solutions continue to make their case and grow a presence within ETH’s ecosystem. Data extracted from the on-chain aggregator Finance showed that transactions on L2 protocols exceeded 5.78 million. The dashboard recorded transactions in a seven-day period between October 27 and November 2. ETH’s layer 1 mainnet recorded 7.3 million...

Ethereum is all set to undergo another crucial upgrade dubbed "Shanghai," which will play an elemental role in determining its price in the long run. A recent meeting chaired by the Ethereum Foundation's Tim Beiko along with other developers concerning the upcoming Shanghai upgrade has led the crypto proponents to dissect the upcoming Shanghai upgrade. The upgrade will reportedly address Ethereum's scalability issues...

Ether’s price has spiked by about 15% in 24 hours, with the crypto now hovering at around $1,532. Ether had been under $1,500 for over a month. CFTC Chairman Rostin Behnam recently said that he didn’t think Ether was a security. This could have contributed to the price bump. Ether bulls also appear to be taking over. One whale moved 320,000 ETH last...

BitMEX co-founder Arthur Hayes has high hopes for Ethereum, saying that competitors like Solana would not beat it. Hayes is bullish on Ethereum because of the amount of development going on in its ecosystem, which he says is more important than transactions per second or lower gas fees. Ethereum does beat other networks on many comparisons. It holds 57% of the DeFi market...

Ethereum whales are busy accumulating ETH despite the ongoing bear market crunch According to crypto analytics firm Santiment, Ethereum whales have collectively pocketed 3.3 million worth of ETH tokens in the past month. Data acquired from crypto analytics firm Santiment has revealed staggering observations regarding Ethereum whales. The data notes that Ethereum whales are consistently accumulating large amounts of ETH despite the ongoing...

Ethereum's on-trend supply has dropped to levels significantly in the last 30 days According to Ultrasound money, Ethereum has remained deflationary for the past month. The supply of Ethereum's native token ETH has documented a drop in its on-trend supply, projecting a deflationary asset pattern. Ethereum On- Trend Supply Is Dropping. Ethereum's deflationary pattern has been an important subject of debate over the past...

Fidelity Digital Assets will allow its clients to buy, sell and transfer Ethereum from 28 October.

Ripple has started testing an EVM compatible sidechain that can bring Ethereum based smart contracts to the XRP Ledger.

Summary: The rate at which Ethereum's network churns out new Ether tokens on a daily basis has dropped by a staggering 97% following the proof-of-stake upgrade in September. Per Delphi Digital's analysis, net daily emissions have dropped from over 12,000 tokens before the Merge to under 4,000 ETH post- merge. The pattern marks a milestone in Ether's chain as the network achieved deflationary status...

Crypto analyst Moustache believes Ethereum could soon start one of the biggest bull market runs Moustache cited Ethereum's price trajectory of 2016-2017 as an example, drawing comparisons on how Ethereum's present price pattern is almost identical to its historical price data of 2016-2017 The recent bear phase of the crypto market has led several crypto analysts to predict a number of things. However,...

Summary: A public call for tender was launched by the EU Commission last week. The call is for a study geared toward developing automated monitoring systems and channels for decentralized finance. DeFi operations in the Ethereum ecosystem are the main target for the commission's so-called "embedded supervision". The U.S. Securities and Exchange Commission also hinted that oversight for Ethereum may be required after...

The DeFi economist at Consensys, David Shuttleworth, is bullish on Ethereum In an interview with Kitco, Shuttleworth noted how Ethereum processes far more transactions than Visa. In his latest interview with Kitco, the leading DeFi economist at ConsenSys, David Shuttleworth, has praised Ethereum. Shuttleworth noted how post-merge Ethereum has levelled up dramatically and can be dubbed "the foundation of the Internet." Ethereum Can...