Coinbase-incubated Base is gearing up for a mainnet launch as the Ethereum layer 2 ecosystem heats up. Path to Base mainnet includes a certain set of objectives to be met. The official timeline for the mainnet launch has not been revealed yet, but Optimism’s upcoming Bedrock upgrade remains a crucial factor. Base Mainnet The Base...Read More
Ethereum co-founder Vitalik Buterin has warned against ‘”overloading” Ethereum’s social consensus – which, if discouraged or resisted – could bring “high systemic risks to the ecosystem.” While admitting the “natural urge” to try to extend the Ethereum blockchain’s core functionality, Buterin added that such actions could end up making the consensus layer more fragile. Risks...Read More
Bitcoin and Ethereum, the two largest cryptocurrencies, are showing signs of future price increases, according to a report by Santiment, an on-chain data vendor. The report states that investors are actively withdrawing their Bitcoin and Ethereum holdings from crypto exchanges and moving them to secure cold storage wallets. This trend suggests that investors are becoming...Read More
Global payments giant Visa has deployed experimental smart contracts on Ethereum’s Goerli testnet to pilot gasless transactions through account abstraction. The two sets of smart contracts, dubbed Paymaster, will simplify user interaction with the Ethereum network by performing complex tasks and managing transaction costs on behalf of other accounts. Visa Tests Paymaster for Frictionless Transactions...Read More
Lido Finance – which is the largest liquid staking protocol on Ethereum – upgraded to version 2 earlier this week. The move essentially enabled liquid staking users, meaning, the holders of staked ether (stETH), to withdraw stETH to ETH from Lido at a 1:1 ratio. The latest data suggest that only 0.42% of the withdrawals...Read More
Optimism, a popular layer-2 blockchain, is set to release its long-awaited Bedrock upgrade on June 6th at 16:00 UTC. The Bedrock release – which is a complete rewrite of an entire rollup stack – is expected to be the largest upgrade ever released on OP Mainnet with a focus on reducing fees and improving Ethereum...Read More
Market-leading liquid staking platform Lido has enabled staked ETH withdrawals. The move came as Lido launched the V2 upgrade live to mainnet on May 15. The upgrade is the largest yet for the protocol, and it has two major components: “Lido V2 introduces two major components, with the most user-facing aspect being Ethereum withdrawals. This...Read More
The Beacon Chain – which serves as the consensus layer for the Ethereum network – experienced technical issues on two separate occasions last week, causing it to stop finalizing blocks. While blocks were being proposed, they were not validated during a 25-minute window. The two incidents were recorded on May 11th and 12th when more...Read More
On May 11, MetaMask revealed that it had added PayPal as a payment option for Ethereum purchases. However, the new payment channel is only available to U.S. users. “MetaMask is the first web3 wallet to enable users to buy ETH using PayPal, a leader in the digital payment space,” it said. The integration also supports...Read More
The number of ETH sitting on crypto exchanges continues to decrease and is now down to its lowest position since public trading began almost a decade ago. However, that has not stopped the price of the second-largest cryptocurrency from further dropping to a new 6-week low. CryptoPotato reported in late March that the Ethereum supply...Read More
While the debate surrounding Ethereum’s high gas fees have been a major pain point, the latest spike comes amidst the PEPE memecoin hysteria that has put tremendous pressure on the network once again. Traders are paying thousands of dollars for a transaction as Ethereum’s gas fees surged above a one-year high. In the latest development,...Read More
In recent weeks, the Ethereum community has been grappling with an issue causing concern for many users – the rapidly increasing gas consumption on the network. Gas fees are charged for processing transactions on the Ethereum blockchain, and they have been rising at an alarming rate. Ethereum Gas Fee Hits 12-Month High According to data...Read More
Polygon announced that Polygon Bridge is now available for Polygon zkEVM. The development comes a month after the launch of the zero-knowledge rollup on Mainnet Beta. The symbolic first transaction on Polygon zkEVM Mainnet Beta was performed by Ethereum co-founder Vitalik Buterin. Polygon zkEVM Mainnet Beta is designed to be an all-purpose Ethereum scaling protocol...Read More
A wallet that participated in Ethereum’s initial coin offering (ICO) in 2016, which remained dormant since then, has finally woken up after seven years and seven months. According to a tweet by on-chain analysis firm Lookonchain, the address transferred one ether (ETH) to a new address about 13 hours ago, marking its first transaction. The...Read More
The Merge represented the Ethereum network’s transition from proof-of-work to proof-of-stake. 218 days later, more than 103,092 ETH has been eliminated from the supply of the world’s largest altcoin. At current prices, this amounts to a little over $197 million. Deflation on the network is on the rise as the supply declined by 0.146% per...Read More
Following a lull this week, staked Ethereum withdrawals have ramped up again. The pending withdrawal queue is being processed, and a large chunk of it is down to the Kraken crypto exchange. On April 20, Nansen researchers observed that the second wave of full withdrawals was underway. They added that Kraken had over 330,000 ETH...Read More
Societe Generale’s crypto arm – SG Forge – has announced the launch of a stablecoin pegged to the euro on Ethereum, dubbed EUR CoinVertible. The latest offering will be accessible to only those institutional investors qualified on the basis of Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures. The EURCV Stablecoin According to the...Read More
On April 19, the VC giant announced Magi, a new rollup client for the Ethereum layer-2 ecosystem, Optimism. It stated that client diversity is important for Ethereum, and it is critically important for layer-2 and rollups. “Multiple independent client implementations can help ensure the safety and liveliness of the network,” the firm noted. Magi is...Read More
Ethereum successfully implemented a long-awaited tech upgrade on April 12. Also known as Shapella – this upgrade enabled withdrawals for the first time from the proof-of-stake blockchain. A week later, the amount of staked Ether has now exceeded the number of ETH being withdrawn for the very first time. According to the on-chain analytic platform...Read More
Prominent derivatives marketplace Chicago Mercantile Exchange (CME) Group has announced adding daily expirations for Bitcoin (BTC) and Ether (ETH) futures options contracts. Pending regulatory review, the two new additions will have expirations Mondays through Fridays. Bitcoin and Ether Daily Expiries According to the official press release, CME Group will offer new expiries for options on...Read More
According to the Token Unlocks dashboard, just over a million ETH has been withdrawn from the Beacon Chain following the Shapella upgrade on April 12. However, the staking balance has not decreased by one million because 370,000 were deposited in the same period. Therefore, the current staking balance has declined by 640,000 ETH, according to...Read More
Arthur Hayes – co-founder of BitMEX – believes the altcoin season (a time frame during which the alternative coins outperform Bitcoin and reduce its dominance in the crypto market) is already here. Assets like Ether (ETH), Arbitrum (ARB), and Dogecoin (DOGE) have marked substantial gains in the past 24 hours, whereas BTC has been relatively...Read More
In the run-up to Ethereum’s highly anticipated Shanghai upgrade, the second-largest cryptocurrency by market cap is struggling to maintain its momentum, hovering around the $1.9K mark. Investors and traders seem to demonstrate a classic “sell the news” behavior as the upgrade draws near, with traders taking profits before the event unfolds. Ethereum Shows Strong On-Chain...Read More
With Ethereum’s long-awaited Shapella upgrade just around the corner, it seems very few network users plan to put the protocol change to immediate use. Data from IntoTheBlock shows that just 0.6% of Ethereum validators are planning to withdraw their stake after the hard fork. As tweeted by the market intelligence provider on Tuesday, just 3,614...Read More
With the much-awaited Shapella (Shanghai) upgrade just hours away, the value of staked Ethereum with unrealized losses has decreased significantly. But it is the largest stakers who have suffered the greatest losses. Unrealized Losses on Ethereum Beacon Chain According to Glassnode, the net unrealized loss on the Ethereum Beacon Chain now stands at $4.7 billion,...Read More
Hackers drained almost $13 million worth of digital assets from the South Korean cryptocurrency platform GDAC. This is the latest in a string of setbacks the industry went through. The Latest Victim The exchange’s team notified its users on April 9 that hackers exploited the Gdac Hot Wallet and transferred a significant amount of cryptocurrencies...Read More
ETH continued to trade below the significant $2,000 despite a bullish week’s finale. Fed Fear and regulatory headwinds continue to be obstacles. On April 12, 2023, Ethereum will undergo a hard fork known as Shanghai, which would upgrade the protocol to Shapella. With this upgrade, the Ethereum network will see a number of enhancements, including...Read More
The crypto market is excited as Ethereum, the second-largest cryptocurrency by market cap, gears up for its highly anticipated Shanghai upgrade. However, as the date for the upgrade approaches, some investors are concerned that the Ethereum price may experience a “sell the news” event. As the hype around the upgrade builds, many investors are buying...Read More
The blockchain security company – PeckShield – outlined that wrongdoers siphoned $211.5 million worth of cryptocurrencies last month via 26 attacks. The Euler Finance exploit accounted for the bigger part of the amount after hackers stole $197 million in staked ETH, USDC, wrapped BTC, and DAI. March Was Not All Sunshine and Roses The revival...Read More
Vitalik Buterin encouraged the deployment of Zero-knowledge Ethereum Virtual Machines (zk-EVMs) on the Ethereum mainnet. In a blog post, Buterin stated that the zk-EVMs would speed up Ethereum’s verification process without affecting the network’s decentralization and security. zk-EVMs to Interact With Ethereum’s Multi-Client Philosophy According to the Russian-Canadian programmer, Ethereum maintains its security and decentralization...Read More
