Beacon chain
Ethereum price dips below the $1.8K support as bears prepare for Friday’s $1B options expiry
Ether’s (ETH) performance over the past three months has been less than satisfying for holders and the 50% correction since April 3 caused the altcoin to test the $1,800 support for the first time since July 2021. Ether/USD 1-day chart at Kraken. Source: TradingView Due to the volatility in stocks, investors had been seeking shelter in the United States dollar and on May 13, the DXY index reached its highest level in 20 years. DXY measures the USD against a basket of major foreign currencies, including the British pound (GBP), the euro (EUR) and the Japanese yen (JPY). Moreover, the five-year U.S. Treasury yield reached its highest level since August 2018, trading at 3.10% on May 9 and signaling that investors demand larger returns to compensate for inflation. In a nutshell, macroeco...
Eth2 is no more after Ethereum Foundation ditches name in rebrand
The Ethereum Foundation has removed all references to Eth1 and Eth2 in favor of calling the original blockchain the “execution layer” and the upgraded Proof of Stake chain the “consensus layer.” Ethereum’s long-awaited transition from a Proof-of-work mining model to a Proof-of-Stake (PoS) consensus mechanism is expected to go live around in the second or third quarter of this year. Announcing the change the foundation cited a number of rationales including a “broken mental model for new users,” scam prevention, inclusivity and staking clarity. In a Jan.24 blog post, the Ethereum Foundation noted that the branding of Eth2 failed to concisely capture what was happening to the network via its series of upgrades: “One major problem with the Eth2 branding is that it creates a broken mental mode...
