Ethereum 2.0 staking has seen significant growth, and a major milestone has been reached. As such, the deposit contract for staking Ethereum on the Beacon Chain reached an all-time high of 47.36 million ETH this week. Interestingly, this accounts for 33.9% of the entire Ethereum supply. ETH2 Staking Milestone According to the data shared by...Read More
Lido Finance – the leading liquid staking protocol on Ethereum – has reached a significant milestone in its development by tapping one million Ethereum validators. This essentially represents a massive scale of participation in Ethereum 2.0 staking. Such a large number of validators is expected to improve the security and resilience of the network, making...Read More
Ethereum’s Shapella hard fork was a controversial upgrade that ignited fears of selling pressure. But the latest data tells a different story. In January 2024, Intotheblock’s data revealed the highest Ethereum staking rate, reaching approximately 30 million ETH staked, accompanied by a staking participation rate of over 24%. This milestone suggested a preference for staking...Read More
The EthereumPoW (ETHW) announced its decision to dissolve the organization after in-depth discussions and based on a consensus among the majority, thereby fulfilling the commitments made during the initial fork. According to the official blog post, the entity said the decision aligns with its plans to transition to complete decentralization. EthereumPoW Embraces Autonomy The “unanimous”...Read More
Leading cryptocurrency exchange Gemini has announced the launch of its Ethereum (ETH) staking program in the United Kingdom. Dubbed Gemini Staking Pro, the product will enable institutions and high-net-worth individuals to run validators on the Ethereum blockchain. The development aligns with Gemini’s expansion plans, as the staking program is already live in the United States...Read More
This year, Ethereum’s network officially transitioned to a Proof-of-Stake consensus algorithm, leaving Proof-of-Work forever behind. One of the multiple implications The Merge has had on the protocol is that there are no longer Ethereum miners. Validators secure the network now, and the path to becoming one is supposed to be tremendously simplified – deposit 32...Read More
Scaling Ethereum has undoubtedly been one of the hottest topics in the past months. The network’s transition to a proof-of-stake consensus algorithm in September 2022 was a huge milestone in this regard, as it opened the door for many different scaling solutions to be implemented. While Ethereum developers are working on ways to scale the...Read More
Open source and decentralized protocol ssv.network DAO has launched a $50 million Ecosystem Fund dedicated to supporting the development of Distributed Validator Technology (“DVT”) based applications. According to a press release shared with CryptoPotato, the project secured the funds from various industry investors, including DCG, OKX, HashKey, NGC, Everstake, HackVC, GSR, Chorus.One SevenX, and 1kx....Read More
Ethereum’s Shanghai upgrade seems to be just around the corner. The core change that will be implemented after it’s through will be that ETH stakers will be able to withdraw their cryptocurrency currently locked in the ETH 2.0 smart contract. At the time of this writing, the Beacon Deposit Contract holds almost 16 million ETH,...Read More
Ethereum’s transition to Proof-of-Stake has undoubtedly been the most significant technical accomplishment in the blockchain industry in 2022 and perhaps even beyond. To facilitate the process, those who wished to secure the Beacon chain had to deposit a minimum of 32 ETH to become validators. The economic incentive to do so was (and still is)...Read More
Days before the estimated date of Ethereum’s transition to Proof-of-Stake (PoS), the protocol went through the last shadow fork. Ethereum research and engineering company, Nethermind, took it to Twitter to reveal that the network went through the last shadow fork before The Merge. Transition in Mainnet-Shadowfork-13 (the last shadowfork before The Merge) was successful for...Read More
Ethereum, the world’s second-largest cryptocurrency, is all set to discard its energy-intensive proof-of-work consensus mechanism sometime next week. While ETH’s price could potentially decouple from other cryptocurrencies post Merge, staking yields is expected to catalyze institutional adoption, Chainalysis said in its latest report. On the other hand, it may be a difficult road for the...Read More
On September 7th, Binance.US announced the launch of an Ethereum Staking service, offering its users an initial annual percentage yield (APY) of 6%. According to the Binance.US blog post, this new feature will allow users to start staking ETH using a minimum of 0.001 ETH (approximately $1.62). An amount much more accessible than the 32...Read More
With the much-anticipated Ethereum Merge only days away, Bobby Ong, co-founder and COO of major cryptocurrency data aggregator CoinGecko, has shared some ways on how ETH holders can best take advantage of the upcoming event. In a tweet thread on Monday (September 5, 2022), Bobby Ong said that one of the best ways for existing...Read More
With the mining era slowly coming to an end, the world’s largest Ethereum mining pool – Ethermine – has launched a staking pool service for users. To become a validator on the Ethereum network, users must invest 32 ETH. But Ethermine’s new service, dubbed – Ethermine Staking – offers a workaround. It aims to let...Read More
Binance – the world’s largest crypto exchange – has released a statement explaining how it will ensure a smooth transition to a proof of stake (POS) Ethereum next month. In particular, it covered how it will compensate users in the event of an Ethereum fork, during which two different blockchains and versions of ETH could...Read More
The Ethereum Foundation has confirmed that the long-awaited Merge is expected to come sooner than previously expected. “Following years of hard work, Ethereum’s proof-of-stake upgrade is finally here! The successful upgrade of all public testnets is now complete, and The Merge has been scheduled for the Ethereum mainnet.” According to a new blog post, the...Read More
Coinbase has announced plans to add support for Coinbase Wrapped Staked ETH (cbETH) on the Ethereum network. The cryptocurrency exchange is allowing customers who stake ETH to receive a liquid representation of their staked-ETH – Coinbase Wrapped Staked ETH. cbETH is an ERC20 utility token that will be introduced right before the Ethereum blockchain’s Merge...Read More
Ethereum 2.0 client Teku has released version v22.8.1, considered as another major step toward the Merge. As per the official announcement, it is a required update that keeps the Bellatrix upgrade on track for September 6th that will kick off the long-awaited process of the Merge and set everything in motion. All mainnet nodes will...Read More
In his latest blog post, former BitMEX CEO Arthur Hayes broke down how he expects Ethereum traders to react before and after the merge. Based on the technicals of the upgrade, he suspects that Ethereum will rally after a successful transition in September, similarly to how Bitcoin rallies during its periodic halving cycles. The Theory...Read More
Coinbase – the largest cryptocurrency exchange in the United States – will temporarily suspend Ethereum-based deposits and withdrawals during September’s “merge” upgrade. The exchange posted a blog post on Tuesday explaining what to expect from both Coinbase and Ethereum following the network’s long-awaited transformation. Ensuring a Smooth Transition Per Coinbase’s announcement, the suspension – which...Read More
The Merge will mark Ethereum’s transition to a proof-of-stake consensus algorithm and is arguably the most significant event in the cryptocurrency industry for 2022. As previously reported, the date for it was set for September 19th, but it appears that it might come sooner than expected. During a call, core developers such as Terence Tsao...Read More
Proponents of the Ethereum fork are gearing up to eliminate the pivotal EIP-1559. An Ethereum miner, which gained allies from many prominent figures and firms in the industry, has now published an open letter to the community. The Twitter account of the proposed chain-split fork – EthereumPoW – said that the once “almighty” Ethereum Foundation...Read More
The timing of the Merge has been the bone of contention for the Ethereum ecosystem. Developers expect it around September 19, even as the timeline is not concrete. But, with the details before the final testing phase of the event revealed, derivative trades have flipped bullish. CoinShares Head of Research James Butterfill, for one, believes...Read More
Tether – the issuer of the world’s largest stablecoin, USDT – has confirmed its support for the upcoming Ethereum Merge. This puts both USDT and USDC on the same page, quelling doubts about a potentially combative hard fork in September. In an announcement on Tuesday, Tether emphasized that it is important not to cause confusion...Read More
FTX has revealed that it does not have any plans to halt or settle ETH futures prior to the highly-anticipated, Merge. In a recent announcement on Tuesday, the crypto derivatives exchange revealed that its Ethereum futures and perpetual contracts (ETH-0930, ETH-1230, ETH-PERP) will track the proof of stake Ethereum after the Merge. It further added,...Read More
Leading cryptocurrency exchange Coinbase has launched Ether (ETH) staking service for institutional investors in the United States as the Ethereum network moves closer to the long-awaited Merge. This means that U.S. institutional investors can now join other institutional clients on Coinbase to stake ETH using Coinbase Prime accounts and claim their yield after the Merge,...Read More
Though Ethereum’s long-awaited Merge upgrade is on the horizon, it’s far from the last developmental milestone on the smart contract platform’s roadmap. Crypto analyst Miles Deutscher recently published a Twitter thread explaining the five key phases the network must move through before reaching completion. The Merge and the Surge The five developmental phases – as...Read More
Ethereum is prepping for the much-anticipated Merge. Delays and setbacks aside, the total value locked in ETH 2.0 deposit contract continues to record new highs. As of July 5, the number of staking ETH 2.0 deposit contract addresses exceeds 13,000,000. However, a vast majority of Ethereum 2.0 stakers are now firmly underwater on their position....Read More
Ethereum’s public testnet Sepolia is now the second major testnet to implement the long-awaited Merge upgrade. This brings the entire protocol a step closer to changing its consensus mechanism from proof of work (POW) to proof of stake (POS). The upgrade involved “merging” the existing Sepolia POW chain with the POS-based beacon chain. The beacon...Read More
