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Tag: Ethereum 2.0

Ethereum 2.0: Upcoming Upgrade Will Not Eradicate High Gas Fees

The growing anticipation of the Merge of the Ethereum network's Beacon Chain with the current Proof-of-Work (PoW) mainnet to usher in the Proof-of-Stake (PoS)...

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Can Ethereum 2.0 Overtake Bitcoin as the Market Leader?

Bitcoin and Ethereum 2.0 collectively contribute to the cryptocurrency industry to an exceeding extent. However, undeniably Bitcoin is the utmost preferred cryptocurrency with...

What is Lido? $LDO Liquid Staking

Lido is a liquid staking platform running on multiple blockchains, allowing users to remain liquid while staking their coins. The centralized financial...

Ethereum eyes fresh yearly lows vs. Bitcoin as bulls snub successful 'Merge' rehearsal

Ethereum's native token Ether (ETH) resumed its decline against Bitcoin (BTC) two days after a successful rehearsal of its proof-of-stake (PoS) algorithm on its...

Why Upcoming Ethereum (ETH) Merge May Crash ETH Prices?

Ethereum merge is simply the transition of the network’s current system of proof-of-work (PoW) to proof-of-stake (PoS). After the Merge, rewards will go to...

Institutional Investors Racked Up $274M Worth of Assets Amid Market Crash

The week beginning May 5 and ending May 11 witnessed one of the biggest crashes in the history of cryptocurrency. While the crash was...

Cloudflare Set To Launch Ethereum Validator Nodes in Support of “The Merge”

The 12-year-old web security company, Cloudflare, announced on May 17 that it would be launching its next series of experiments for advancing web3. This...
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How Proof-of-Stake Is Playing A Critical Role In The Blockchain Ecosystem

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The Proof-of-Stake (PoS) consensus mechanism has emerged as the most viable solution to Bitcoin and Ethereum’s energy problem. The world’s two most popular blockchains have long been criticized for their enormous power consumption, with one recent study from U.K. financial site MoneySuperMarket estimating that each Bitcoin transaction costs in excess of $100 in terms of [...]

The post How Proof-of-Stake Is Playing A Critical Role In The Blockchain Ecosystem appeared first on Blockonomi.

The Weird Relationship Between Ethereum’s Price And Vitalik Buterin

As Ethereum saw a 16% increase from a rally that took the coin to $3,000 on Monday, someone might have spotted an unusual link between Ether’s highs and times where the Ethereum Founder’s name, Vitalik Buterin, was trending on Google Searches worldwide. Ethereum And Google Trends “The last time Vitalik surged on Google Trends, $ETH pumped 2x from April-May,” a Twitter user noted while showing a recent surge of the founder’s name: To see if this could actually be taken into account as a possible indicator, we compared different moments in time in which Vitalik Buterin has surged on Google Trends and the price action that followed. In the following chart we can see the most relevant moments during 2022: And tracing back to 2021, we can further see this price action (yellow arrows still point at moments in which ‘Vitalik Buterin’ surged on Google Trends): But does it really mean the price has increased after people get interested in googling Vitalik? The trending searches most likely followed these news: Buterin revealing he has burnt 505 trillion SHIB tokens in January 2022; similar SHIBA related news in October 2021; earlier in the same month he trended after calling El Salvador’s decision of making Bitcoin a legal tender “reckless”; then on August of the same year, it was the five-year anniversary of Ethereum and he addressed several issues and the complexity of Ethereum 2.0; on May 2021 Vitalik became a billionaire as Ether hit $3k. The most recent spike in searches is most likely due to the article on Vitalik released by TIME Magazine, which features the Ethereum founder on the cover and is titled “The Prince of Crypto Has Concerns.” The article’s writer, Andre Chow, called him “one of the most fascinating and arguably important people on earth,” and on Vitalik’s side, he expressed several concerns about the decentralized finances (DeFi) and NFTs spaces. “Ultimately, the goal of crypto is not to play games with million-dollar pictures of monkeys, it’s to do things that accomplish meaningful effects in the real world.” After comments such as this one and the intriguing public figure of Vitalik (often portrayed as a myth of a modern genius), it is only natural for a spike on Google Searches. Related Reading | What This Pattern Spells For Ethereum In The Coming Weeks, Pullback In The Cards? However, going back to the possibility of this to push Ether’s price up 2x, we further noticed that for the mentioned April-May case there do not seem to be any big surges for Vitalik’s name until May 13th, which was already after Ether hit an all-time high of $3,456.57 around May 4. Alongside this uptrend of May 2021, it would be more relevant to take into account Bitcoin’s upward movement at the moment and a growing institutional interest in Ethereum. But Will ETH Go Up? As NewsBTC reported before, ETH is currently outperforming, and this is probably linked to the upcoming updates of the network as the Mainnet is ready to perform The Merge after it was recently deployed on the last testnet, meaning an official switch to proof-of-stake consensus. There has been a lot of excitement about reaching the final phase of these updates, and it is clear that as the final phase is set to begin around mid-2022, many people are paying attention to the network and its coin. Related Reading | Vitalik Buterin On How To Eliminate Ethereum Network Congestion And High Fees A pseudonymous trader noted that “ETH is currently at the resistance of $3040 which is an important level for ETH to break in order to rally higher. A rejection will drop the price back to $2.9k to $2.8k.” Moreover, there seems to be an inverse head and shoulders forming, and as the coin approaches the neckline, it will need an uptrend next week to trigger the bullish pattern. A downtrend remains possible. BTC Takes A Tumble? On a similar note, Blockware Solutions recently shared a chart that showed Google searches for ‘Bitcoin’ taking a tumble and tweeted: “While the rest of the world ignores Bitcoin, hodlers continue to stack the most scarce asset on the planet.” However, if we search ‘Bitcoin’ (the red line below) on the Google Trends analyzer and compare it to ‘Ethereum’ (the blue line), we see the following action:   And even if we add in ‘Vitalik Buterin’, ‘Bitcoin’ searches still seem to remain higher than anything Ethereum-related. Here we can see ‘Bitcoin’ represented by the blue line, ‘Ethereum’ by the yellow line, and ‘Vitalik Buterin’ by the red line.  

The Week Begins: All Eyes On Ethereum

Ethereum

More than 2 million Ethereum, worth around $5.8 billion, was reportedly burnt since the last update. The burns started following Ethereum Improvement Proposal 159, or EIP 1559, from the London hard fork. EIP 150 does not limit the total supply of Ether, instead, kicking off a mechanism that destroys an amount of Ether in circulating [...]

The post The Week Begins: All Eyes On Ethereum appeared first on Blockonomi.

Ethereum, buoyed by Merge upgrade, is currently outperforming Bitcoin

The promise of migration to a Proof of Stake network for Ethereum is positively affecting its price performance.

The post Ethereum, buoyed by Merge upgrade, is currently outperforming Bitcoin appeared first on CryptoSlate.

Market Analysis Report (22 Mar 2022)

Goldman Sachs Conducts OTC Crypto Options Trade | World’s Largest Hedge Fund to Back Crypto Fund | 2 Million ETH Has Been Burned Ahead of Ethereum 2.0 Rollout

Almost $6B In ETH Were Burned As Ethereum 2.0 Edges Closer

Almost $6B in ETH were burned as Ethereum 2.0 gets closer and now there are more than 2 million coins destroyed in the burn mechanism introduced last year so let’s read more in today’s latest ethereum news. Ethereum’s burn mechanism is more popular than ever as the second biggest network has officially destroyed almost $6B […]
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