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Ethereum core developers convened yesterday for a progress report on pivotal network upgrades and new privacy functionality. The biweekly All Core Devs call highlighted testnet advances and demonstrations of zero-knowledge technology to enable confidential transactions of Ethereum. First, developers celebrated last week’s successful launch of the Holesky testnet after an initial failed attempt. Holesky replaces the aging Goerli testnet to support more robust testing of planned improvements like sharding. Also read: SEC Charges Ex-Goldman Sachs Employee With Insider Trading With Holesky now live, the focus shifts to Devnet 9 and Devnet 10—short-term test environments—to stress test upgrades ahead of mainnet deployment. The temporary testnets will validate the Dencun hard fork, which implements proto-danksharding to improve Ethereum’s scalability. .@ ETH ereum ACDE 171 happened earlier today, covering Dencun devnets, 4788 audits, Holesky's launc...

Ethereum DeFi TVL Shrinks by $7.84B in One Year Ethereum, the time-tested pioneer in the DeFi realm, has experienced a tumultuous journey with regard to its Total Value Locked (TVL). Though it has shown resilience in the face of shifting market tides, Ethereum’s position has faced formidable challenges from rising stars in the space like Optimism (OP), Tron (TRX), Solana (SOL), and Polygon (MATIC) among others. advertisement Since June 2022, Ethereum’s dominance in the DeFi sector has been increasingly contested. Layer-2 solutions like Polygon have seen a considerable surge in TVL, thanks in large part to their ability to provide faster and cheaper transactions. This has inevitably impacted Ethereum’s position, prompting a reevaluation of its supremacy in the DeFi landscape. According to the latest data on the DeFi space by DefiLlama, the network’s TVL has since June 15 lost $7.84 billion. Ethereum DeFi TVL | Source DefiLlama If the rout...

In May, the average transaction fee spiked to new yearly highs on the Ethereum blockchain. The situation has significantly cooled down. However, the number continues to hover above average. Source: Etherscan Also Read: Ethereum: 67% of New NFTs Minted Are Profitable Fees paid by users typically serve as a proxy for network usage. Even though market conditions remain to be sluggish, users have not abandoned the Ethereum network. Over 100k transactions have been consistently taking place on the blockchain on a daily basis. In fact, participation by both new and existing users has surged by 58% and 17% respectively over the past week. On the price front, ETH has managed to rise from one narrow band to another. Even though it has shed more than 1% value over the past day, it was trading above its short-term EMAs [red, orange], and trying to establish a base around them at press time. ETH/USDT by TradingView Also Read: Solana’s Retention Rate Lowest Among Ethereum, ...

The total crypto market valuation has been stagnant in the $1.1 trillion to $1.2 trillion bracket of late, with prices of most top assets noting merely 1% to 2% movements on the weekly. Bitcoin’s YTD earnings continue to be positive, owing to 2023’s bullish start. As analyzed in an article yesterday, investors fetched the most returns in January and March. Notably, the banking turmoil ended up being a blessing in disguise for Bitcoin and helped it climb up in both valuation and dominance. Chalking out the same, a recent K33 Research report underlined, “The Bitcoin dominance has increased by 6% year to date and currently sits at 48%, with a majority of the increased dominance originating from the March banking turmoil.” Despite the rise, BTC’s dominance is still sitting “miles below” the dominance of 2019 to 2020, as illustrated below. Source: K33 Research Also Read: Bitcoin To Break 2023’s Bullish Streak In May? Stablecoins step up According to the report, rotation fro...

Ethereum, the second-largest cryptocurrency by market capitalization, is gaining popularity among investors as an alternative to Bitcoin. Many often wonder, “How do I buy Ethereum with cash?” But did you know that there are ways to buy Ethereum with cash? In this article, we’ll guide you through the process of buying Ethereum with cash, step by step. We’ll also cover selecting the right Ethereum wallet that supports cash purchases, payment methods for buying Ethereum with cash, and how to sell Ethereum and convert it back to cash. So let’s dive in! Source: CNN A Step-by-Step Guide to Buying Ethereum With Cash Step 1: Enter the amount you want to spend. The first step in buying Ethereum with cash is to decide how much you want to spend. This will help you determine the amount of Ethereum (ETH) you can purchase. Keep in mind that the price of Ethereum can fluctuate, so be prepared to adjust your investment accordingly. Step 2: Select Ethereum (ETH). Once you’ve deter...

Ethereum’s Shapella upgrade was highly anticipated by the entire community. Investors have been able to withdraw their staked ETH through this development. However, fear was instilled in many as it was speculated that selling pressure would surge. But the situation is taking a different direction. Recent reports reveal that Ethereum staking withdrawals have reached the third “round.” Yet, ETH staking deposits have come close to matching the withdrawals. Analytics firm Nansen noted that on April 24, 61608 ETH in principal and reward withdrawals made up the latest significant round of withdrawals. Alongside this, 63,009 ETH deposits were made at the same moment, according to Nansen. Source It should, however, be noted that Kraken accounted for most of these withdrawals. This is in light of the Securities and Exchange Commission’s charges against the exchange in February 2023. Therefore, Kraken will be closing down its s taking services. Consequently, a large portion of the early ETH...

The current state of the cryptocurrency market is predominantly positive, with many assets experiencing noteworthy gains throughout the week. Ethereum (ETH) saw a significant rise in value thanks to the Shapella development. There were concerns that ETH’s staking protocol could lead to a surge in withdrawals and a drop in value. But, contrary to those expectations, ETH’s value increased and surpassed the $2,000 mark. Moreover, the selling pressure seems to be low. This is due to the fact that the Shapella upgrade will not cause a sell-off due to the current state of staked ETH holdings. Also read: US House Committee Unveils Draft Version of Stablecoin Bill 60% of all staked Ethereum held at loss According to the latest research report from April 2023, 60% of all staked ETH is held at a loss. These also include the holdings at Lido DAO. The possibility of a sell-off is nullified, as approximately 30% of staked ETH is at an average loss of over $1,000. Due to the ...

Most crypto assets have been shedding value of late. Recent pessimistic developments like Silvergate’s shut down, have only deepened the market’s wounds further. On Thursday, the aggregate valuation of all the assets stood below the $1 trillion mark, at $995.17 billion to be precise. Bitcoin’s price has been hovering below the $22k threshold, while Ethereum tumbled below $1.6k. Unlike the top two’s 2% depreciation, other Alt coins from the market like Shiba Inu and Cardano have shed 3%-6% of their respective values over the past day. The mid-term landscape also seems to be similar. Blockchain Center‘s Altcoin Season Index pointed out that the market is currently no where close to its “Altcoin Season.” According to the thumb rule, if 75% of the top 50 coins outperform Bitcoin in a period of 90 days, it is considered to be an Altcoin season. The press time reading of 24 and the pendulum oscillating towards “Bitcoin Season,” ...