Ethereum
Price analysis 12/23: BTC, ETH, BNB, XRP, DOGE, ADA, MATIC, DOT, LTC, UNI
Bitcoin (BTC) is on track to end the year with a loss of about 65%. This would mark the third negative year for Bitcoin with the other two being 2014 and 2018. In comparison, the S&P 500 has fared much better but that is also down close to 20% in 2022. Although cryptocurrency prices have seen deep cuts this year, traders have continued to plow money into the space. An online survey conducted by Blockchain.com shows that 41% of the respondents bought crypto this year and 40% plan to purchase crypto in the next year. Daily cryptocurrency market performance. Source: Coin360 However, a sustained recovery in risk-assets may happen only after inflation shows signs of cooling. That would raise expectations of a pivot by the United States Federal Reserve from its aggressive monetary ...
zkEVM could be the endgame for blockchain infrastructure
Very few projects have come close to matching the security and decentralization of the Ethereum network. However, the inherent overhead of maintaining these two critical features has left Ethereum burdened by low throughput and prohibitively high costs. As a result, alternative layer-1 blockchains (L1s) — which normally sacrifice security and decentralization to provide scale — have emerged to nip away at Ethereum’s market share. However, with Ethereum Virtual Machine (EVM)-equivalent scaling solutions bringing high throughput and low transaction fees to Ethereum itself, the question is: Do we really need these alternative L1 networks? Despite a rocky year for the industry, Ethereum is still as strong as ever The risks of sacrificing security and decentralization have been largely material...
Price analysis 12/21: BTC, ETH, BNB, XRP, DOGE, ADA, MATIC, DOT, LTC, UNI
As the year comes to an end, investors will be keenly watching for a Santa Claus rally on Wall Street as many believe that if the rally does not happen, the next year may either remain flat or turn negative. Jurrien Timmer, director of global macro at asset management giant Fidelity Investments, tweeted on Dec. 19 that the United States equities markets may remain “sideways” and choppy in 2023. He expects “one or more retests of the 2022 low, but not necessarily much worse than that.” Daily cryptocurrency market performance. Source: Coin360 The cryptocurrency market has been largely correlated with the S&P 500 in 2022. Unless both markets decouple, the sideways or negative action in the equities markets may not bode well for the cryptocurrency market. Analysts remain divided on t...
What’s in and what’s out for Ethereum’s Shanghai upgrade
Ethereum core developers have opted to prioritize the enabling of staking withdrawals via the Shanghai upgrade first before implementing The Surge-related Ethereum Improvement Proposal (EIP)-4884. As reported by Cointelegraph, the next key milestone on Ethereum’s roadmap is the Shanghai upgrade, which will enable withdrawals for ETH stakers/validators from the Beacon Chain — among other things. EIP-4884 is also important and was initially expected to be packaged in with Shanghai, introducing “proto-danksharding” to significantly enhance Layer 2 rollup scalability (The Surge) ahead of the full implementation of the major Sharding upgrade late next year. However, according to Ethereum core developer Tim Beiko at the latest Ethereum Core Developers Meeting on Dec. 8, the ultimate co...
Nifty News: Winamp adds NFT support, Atari gets physical and more
NFT music on Winamp Old school classic PC-friendly media player Winamp has rolled out support for Ethereum and Polygon-based music nonfungible tokens (NFTs) in the latest update of its desktop player. Winamp has been around since 1997 and was one of the most popular media players for PC users but has since been overtaken by Windows Media Player and Apple’s dominant iTunes. It has a reputation for supporting a wide range of media files, and in the latest update announcement on Dec. 7 the Winamp team noted that NFT support is officially live and ready to go. @winamp I have fond memories of Winamp from back in my youth. Are we ever going to see a official integration with @Spotify? I’d love some sweet early 2000’s visualizations with my beats — Sjoerd Stottelaar (@sjoerds) Decembe...
Thanks to Ethereum, ‘altcoin’ is no longer a slur
Altcoin originally meant “Bitcoin alternative” because, in the early stages of cryptocurrency development, every blockchain-based currency was seen as a sort of Bitcoin (BTC) knockoff. Cryptocurrencies back then were mainly used for payments, such as Litecoin (LTC), XRP (XRP) and Peercoin (PPC). Altcoin was used as a catchall term for cryptocurrencies other than Bitcoin. That’s changed since 2011. With the emergence of more than 20,000 cryptocurrencies, each linked to different types of crypto projects and tokens. We have also seen the dexterity of coins stretch across sectors of public chains, decentralized finance (DeFi), layer 2, decentralized autonomous organizations (DAOs), stablecoins and more. If “altcoin” refers to non-Bitcoin cryptocurrencies with the same characteristics as...
Vitalik Buterin on the crypto blues: Focus on the tech, not the price
Ethereum co-founder Vitalik Buterin has shared some sage advice for traders feeling the blues of the crypto bear market: Focus on the tech rather than the price. The Ethereum co-founder made the recommendation in response to a Dec. 3 post from self-described crypto investor CoinMamba, echoing what many crypto investors are likely feeling at the moment. After 9 years in crypto I’m kinda exhausted. I want to move on and do something different with my life. Tired of all these scammers and fraudsters.. — CoinMamba (@coinmamba) December 3, 2022 “After 9 years in crypto I’m kinda exhausted. I want to move on and do something different with my life. Tired of all these scammers and fraudsters,” CoinMamba said. The crypto industry has continued to be bombarded with unsavoury news since&...
Price analysis 12/2: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, DOT, LTC, UNI
Non-farm payrolls in the United States rose by 263,000 in November, exceeding economists’ expectations of an increase of 200,000. Analysts believe that the numbers remain hot and do not allow much scope for the Federal Reserve to slow down its aggressive rate hikes. This is contrary to Fed Chair Jerome Powell’s remarks delivered at the Brookings Institution where he said that the central bank could reduce the pace of rate hikes “as soon as December.” That triggered a sharp rally in risk assets. After the latest jobs report, the market participants will closely watch the Fed’s comments and decision in its Dec. 13 and Dec.14 meeting. Daily cryptocurrency market performance. Source: Coin360 The Fed’s decision may also affect Bitcoin (BTC), which remains in a firm bear grip. Co...
ApeCoin risks 30% crash after APE staking debut in December
The multi-week ApeCoin (APE) market rally is nearing exhaustion owing to a mix of technical and fundamental factors. Fundamental — ApeCoin Staking launch In the past two weeks, APE’s price is up over 50% after bottoming at around $2.60. The APE/USD rebound came in line with similar recovery moves elsewhere in the crypto market. But, it outperformed top assets, including Bitcoin (BTC) and Ether (ETH), as traders pinned their hopes on ApeCoin’s staking debut. The ApeCoin Staking feature will debut on Dec. 5 at apestake.io, according to its developer Horizon Labs. It will allow users to lock their APE holdings into four staking pools — ApeCoin pool, BAYC pool, MAYC pool, and Paired pool — that will allow them to earn yield periodically. The feature announcement has resulted ...
Price analysis 11/25: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, DOT, LTC, UNI
FTX’s collapse dealt a major blow to the already fragile sentiment among cryptocurrency investors. Although a quick recovery is unlikely, Blockchain analysis firm Chainalysis said that the crypto universe could emerge stronger from this crisis. Chainalysis’ research lead Eric Jardine arrived at the conclusion after comparing FTX’s fall to that of Mt. Gox. Another calming statement came from Bloomberg Intelligence exchange-traded fund analyst James Seyffart, who said that there was a “99.9% chance” that the Grayscale Bitcoin Trust (GBTC) held the Bitcoin (BTC) it claimed. He added that GBTC was “unlikely” to be liquidated. Daily cryptocurrency market performance. Source: Coin360 The negative events of the past few days do not seem to have scared away the small investors who remain on an acc...
ApeCoin geo-blocks US stakers, two Apes sell for $1M each, marketplace launched
United States-based ApeCoin (APE) holders could miss out on staking rewards after the U.S. was added to a list of regions geo-blocked from using an upcoming APE staking service. Blockchain infrastructure company Horizen Labs, which is building the site on behalf of the ApeCoin decentralized autonomous organization (DAO), revealed the news in a Nov. 24 update regarding ApeStake.io on Twitter, saying “unfortunately, in today’s regulatory environment, we had no good alternative.” Ape Staking Update: Big thanks to the talented community devs for their helpful improvements. Bug Bounty AIP delayed us a bit, so we shortened the pre-deposit period by a week to keep our original 12/12 go-live. Alternate front-end sites going live. See card. pic.twitter.com/mgmP7X3SwQ — Horizen Labs (@HorizenLabs) N...
Price analysis 11/16: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, DOT, UNI, LTC
The collapse of FTX cryptocurrency exchange has created a liquidity crisis in the crypto space, which could extend the crypto winter through the end of 2023, according to a research report by Coinbase. According to analysts, the FTX implosion could keep the institutional investors at bay because they are even more likely to tread cautiously for some time. The crisis has negatively impacted several crypto-focused companies who have assets stuck on FTX following the company’s bankruptcy filing on Nov. 11. Investors also fear the contagion could spread, causing further damage to the cryptocurrency ecosystem. Daily cryptocurrency market performance. Source: Coin360 Although several investors were rattled by the collapse of FTX, billionaire venture capitalist and serial blockchain in...
