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Polygon Launches zkEVM Mainnet Beta, Will It Reduce Costs Of Ethereum Transactions?

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Polygon Labs has recently made a major announcement that is set to impact the Ethereum network’s future positively. The protocol has launched Polygon zero-knowledge proof Ethereum Virtual Machine (zkEVM) on mainnet Beta, a permissionless and public network allowing users to transact and build. 

According to the announcement, to further support the protocol’s development, Polygon zkEVM is now completely open-source. With this launch, Polygon is allegedly helping to pave the way for the next chapter of Ethereum’s development and offering developers and users a new tool for building decentralized applications.   Read more...

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Ethereum Price Plummets As Whale Transfers $33 Million ETH To Binance

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Ethereum price’s meteoric rise was abruptly interrupted Saturday as a sizable amount of the digital asset was transferred to Binance exchange. 

The transfer, which occurred at 1:30 AM Eastern Time, sent shockwaves through the market and raised concerns of a potential sell-off, causing ETH to lose a significant portion of its market value. Despite its earlier gains, the largest altcoin by market cap is now facing uncertainty as investors nervously await further developments.

Ethereum Price Rattled By Sudden Whale Move

Following a prolonged period of consolidation, Ethereum’s price broke out on March 10, and the altcoin has been off to an impressive start ever since, leading to a sharp increase in its value.  Read more...

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Playboy Accepts Ethereum As NFT Payments And Ends Up Losing $5 Million

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Playboy, founded by the late Hugh Hefner, announced a staggering impairment loss of $ 5 million on its Ethereum holdings from last year. The company attributed the loss to the prolonged crypto winter that had a significant impact on the broader market, causing a decline in cryptocurrency prices.

During the pinnacle of the crypto market in October 2021, the company unveiled its “Rabbitar” NFT project. According to TradingView data, Ether, the native coin of Ethereum, has lost over 60% of its value since then.  Read more...

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Ethereum Shanghai Upgrade Completes Final Dress Rehearsal

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The Ethereum Shanghai Upgrade is inching closer to reality as developers announce that the hard fork is undergoing rigorous testing on the Goerli public testnet.

This upgrade marks the next phase in Ethereum’s evolution, following its successful transition to a proof-of-stake consensus mechanism after The Merge. 

With new features and improvements, the Ethereum Shanghai Upgrade promises to further solidify its position as a leading blockchain platform.

Ethereum Shanghai Upgrade Now Deployed On Goerli Testnet

The final dress rehearsal for Ethereum’s upcoming significant upgrade, “Shapella,” has been conducted on the Goerli testnet.  Read more...

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KuCoin Lawsuit Could Set Dangerous Precedent For Ethereum

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The New York District Attorney General (NYDA), Letitia James, filed a lawsuit against crypto exchange KuCoin. According to a document filed with the Supreme Court of the State of New York against two companies running the trading venue in the U.S., PhoenixFin and Mek Global Limited.

The lawsuit accuses KuCoin of offering unregistered securities and commodities in New York. These digital assets are the former native token of Terra’s collapsed ecosystem, LUNA, its algorithmic stablecoin UST, and Ethereum (ETH), the second crypto by market capitalization.  Read more...

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Bottom Signal? Bitcoin, Ethereum Profitability Hit Three-Month Lows

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With the prices of digital assets such as Bitcoin and Ethereum falling in the last week, investors are now moving their coins at a loss for the first time since December. Could this signal a bottom for the digital assets?

Bitcoin, Ethereum Profitability Falls To 2023 Lows

Bitcoin’s fall from above $ 25,000 to the $ 21,000 level last week dragged the coin’s profitability down with it. Given this, Santiment notes that investors in these two digital assets are beginning to move their coins at a loss once more.  Read more...

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Ethereum Shanghai Moves Forward, But Core Dev Sees “Road Yet Long”

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On the verge of the launch of the Shanghai Capella testnet by Ethereum developers this week, the Consensus Layer (CL) client teams discussed the progress of testing the upgrade on an All Core Developers Consensus Call (ACDC).

Ethereum’s development team began testing a Maximum Extracted Value (MEV) Boost, an open-source middleware run by validators to access a competitive block-building market. The MEV-Boost allows validators to access blocks from a marketplace of builders.

Built by the research organization, Flashbots, as an implementation of the Prosperity Builder Separation (PBS) for the proof-of-stake blockchain supporting the Ethereum network.  Read more...

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Ethereum Rally A Bull Trap? Here’s What Taker Buy/Sell Ratio Says

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Is the latest Ethereum rally a bull trap or the start of a fresh bull market? Here’s what the ETH-taker buy-sell ratio says about it.

Ethereum Taker Buy/Sell Ratio Has Fallen Below 1 Recently

An analyst in a CryptoQuant post pointed out that the recent sentiment has been bearish according to the metric. The “taker buy-sell ratio” is an indicator that measures the ratio between the taker buy and taker sell volumes in the Ethereum futures market.  Read more...

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Why Ethereum Dominance Could Be In “Grave” Danger

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Ethereum is the second-largest cryptocurrency ranked by market cap. A recent Merge “upgrade” to a proof-of-stake consensus mechanism and other changes raised discussion of a possible “flippening” — a situation where Ethereum unseats Bitcoin as the top cryptocurrency in the market. 

Instead, Ethereum’s dominance could be in “grave” danger, if an ominous-sounding Japanese candlestick pattern is a prelude of what’s to come across the crypto market. 

Lagging Performance Against Crypto Leaves ETH.D Exposed To Danger

While Ethereum might be up by 90% from its bear market low compared to Bitcoin’s 50%, when comparing year-to-date returns BTC’s 50% gain against USD beats ETH’s mere 40%. From this metric alone, it’s obvious that Ethereum has been lagging behind Bitcoin.   Read more...

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Ethereum Co-Founder Vitalik Buterin Donates $150,000 To Victims Of Turkey, Syria Earthquake

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Vitalik Buterin, co-founder of Ethereum, has shown his kindness and support for individuals affected by the recent earthquake in Turkey and Syria by making a sizeable donation.

According to numerous news sources, Buterin gave approximately $ 150,000 worth of Ether to Ahbap Earthquake Support to assist with the recent natural disaster in the two countries.

Ethereum Co-Founder Reaches Out To Help

Vitalik transmitted a total of 99 ETH, or approximately $ 150,000, from his wallet address “vitalik.eth” to a wallet branded “Ahbap Yardm,” according to Etherscan transaction data.  Read more...

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Bullish: Shiba Inu Becomes Largest Token Holding Among Top Ethereum Whales

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Shiba Inu has gained ground tremendously over the past week as its price continues to see double-digit gains. With this newfound momentum has come renewed interest from investors and Ethereum whales are notably taking advantage of SHIB’s growth during this time.

Ethereum Whales Boost Shiba Inu To Top Holding

The year 2022 actually saw the price of Shiba Inu fall over 80% from its all-time high, triggering immense bearish sentiment among its investors. During this time, the 5,000 largest Ethereum whales, who had collectively held over $ 1 billion worth of SHIB at one point, would reduce their holdings drastically. This saw Shiba Inu’s position as the largest token holding by dollar value among these large investors eradicated over time.  Read more...

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Visa Push On Ethereum Could Boost The Altcoin In This Level

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According to Coingecko data, Ethereum is the second most popular cryptocurrency with a market valuation of $ 197 billion. As a result, the Ethereum network became popular with DeFi, as the largest protocols were constructed on top of it. This piqued the interest of digital payments giant Visa, which recently announced its support for Ethereum as a payment settlement method.

The move could set up another rally for Ethereum (ETH) which, at the time of writing, is up nearly 30% in the monthly time frame, based on data today, January 7th. 

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Shiba Inu Rises Another 4%, Becomes Most Traded Token Among Top 100 Ethereum Whales

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Shiba Inu has seen 4% gains in the past 24 hours as the meme coin becomes the most traded token among the top 100 Ethereum whales.

Biggest Ethereum Whales Are Actively Trading SHIB

As per data from the crypto whale tracker service WhaleStats, Shiba Inu has been the number one traded coin among the 100 biggest Ethereum whales today.

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Wrapped Bitcoin (WBTC) Supply On Ethereum Has Fallen 35% Since Last Year’s Peak

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Data suggests the wrapped Bitcoin (WBTC) supply on Ethereum has dropped by around 35% since the LUNA/UST collapse last year.

101,550 BTC Has Exited Wrapped Bitcoin Supply Since All-Time High

According to data from the on-chain analytics firm Glassnode, about 285,000 BTC was locked into the WBTC supply at an all-time high (ATH) last year. WBTC is a tokenized version of Bitcoin on the Ethereum blockchain that is backed 1:1 with actual BTC, and thus always trades at the same price as the crypto.  Read more...

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NFTs Make Comeback As Gas Dominance On Ethereum Rebounds To 22%

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Data shows the non-fungible token dominance on Ethereum has rebounded to 22%, suggesting that NFTs may be making a comeback.

NFT Dominance On Ethereum Has Climbed Up Recently

According to the latest weekly report from Glassnode, the NFT dominance on Ethereum had dropped to only 13% just a while ago. The “dominance” here is based on the percentage of the total gas usage on the ETH network that a particular transaction type is consuming right now.  Read more...

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Ethereum DeFi Suffered 76% Decline In Total Value Locked This Year

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Data shows the bear market has also hit Ethereum decentralized finance (DeFi) hard, as the total value locked in the sector has declined by 76%.

Total Value Locked In Ethereum DeFi Now Only Around $ 23.1 Billion

Decentralized Finance (or DeFi as it’s most commonly known) includes all types of financial services that are done on the blockchain. Like other entities on the blockchain, DeFi is public and doesn’t involve any centralized party to get things done (as transactions are peer-to-peer).  Read more...

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