Latest Ethereum news

  • Bitcoin, Ethereum, Dogecoin Drop As Crypto Sentiment Hits 'Rock Bottom' — Do 'Weak Hands' Present Opportunities?
  • Pharma Bro Martin Shkreli: Ethereum’s Vitalik Buterin 'Brilliant' But Also 'Full of Shit'

    Fresh out of prison, the polarizing former pharmaceutical executive has no shortage of opinions about the crypto industry.

  • Ethereum Classic Breaks From This Pattern: Here's How To Plan Your Entries, Exits
  • An Ethereum Wallet For Gamers? Here's What's Going On With GameStop Stock Today

    GameStop Corp (NYSE: GME) shares are trading slightly lower Monday. The stock initially surged in pre-market trading following a cryptocurrency wallet announcement, but it pulled back at the open and turned negative during Monday's regular trading session.  On Monday morning, GameStop announced the launch of its new digital asset wallet, which will allow gamers to store, send, receive and use crypto and NFTs across decentralized apps without having to leave their web browsers. Related Link: GameStop Launches Wallet For Cryptocurrencies, NFTs The GameStop Wallet is a self-custodial Ethereum (CRYPTO: ETH) wallet. A wallet extension is available for download on Alphabet Inc's (NASDAQ: GOOG) Chrome Web Store. GameStop said the wallet extension will also enable transactions on the company's NFT marketplace, which is expected to launch in GameStop's fiscal second quarter. GME 52-Week Range: $77.58 - $344.66 According to data from Benzinga Pro, the stock was down 0.78% at $94.90 at press time. Photo: JJBers from Flickr. © 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • French Luxury Brand Balenciaga to Accept Bitcoin, Ethereum as Payment

    The luxury fashion brand is also privately designing a long-term metaverse business strategy.

  • RT 721starter: Top 5 NFT Collections on the @Ethereum #Blockchain🔥 by sales volume (Of All Time)   ⬇️ A #721FM THREAD ⬇️  1. 🤖Axie Infinity - @AxieInfinity (US$4,071,196,397) [twitter.com] [pbs.twimg.com]
  • Crypto Whale Just Moved $30M Worth Of Ethereum (ETH) Off Bitfinex

    What happened: An Ethereum (CRYPTO: ETH) whale sent $30,991,163 worth of Ethereum off Bitfinex. The ETH address associated with this transaction has been identified as: 0xd41cdb2a35a666e8e1f9f53054e85091b67e13af Why it matters: Whales typically send cryptocurrency from exchanges when planning to hold their investments for an extended period of time. Storing large amounts of money on an exchange presents an additional risk of theft, as exchange wallets are the most sought-after target for cryptocurrency hackers. Ethereum whales that run their own validator nodes (costing 32 ETH each) must send their Ether to the Ethereum 2.0 beacon chain, which is then locked up until the launch of Ethereum 2.0 in 2022. According to Glassnode, only 17.14% of the total supply remains liquid across all centralized exchanges. The removal of ETH from an exchange reduces potential sell side pressure, allowing the price of Ether to increase more easily. See Also: Best Crypto Apps 2021 and Best Crypto Portfolio Trackers Price Action: Ethereum is up 3% in the past 24 hours. See Also: How To Buy Ethereum Public Blockchain data sourced from Whale Alerts Twitter. This article was generated by Benzinga's automated content engine and reviewed by an editor. © 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

    Benzinga

    13h

  • Someone Just Sent $58M In Ethereum To An Anonymous Wallet

    What happened: $58,694,570 worth of Ethereum (CRYPTO: ETH) was just moved between 2 anonymous cryptocurrency wallets in a single transaction. This mysterious person's Ethereum wallet address has been identified as: 0xf3d0b270651dccfeddad41b42aa6d1876200117a $58 million worth of Ethereum was sent to an unknown recipient, with Ethereum wallet address: 0x794d28ac31bcb136294761a556b68d2634094153 Why it matters: Cryptocurrency whales that own millions of dollars in Ethereum tend to move markets single-handedly. If the whale decides to exit this Ethereum position, there could be enough market impact to push down the price of ETH. It takes about $15 to $30 million of sell pressure to move the price of Ethereum down 2% on any given exchange. You can view more details about the transaction here According to Glassnode, there are 80,300 Ethereum wallets with over $100,000 in ETH. See Also: Best Crypto Apps 2021 and Best Crypto Portfolio Trackers Price Action: Ethereum is up 3% in the past 24 hours. See Also: How To Buy Ethereum Public Blockchain data sourced from Whale Alerts Twitter. This article was generated by Benzinga's automated content engine and reviewed by an editor. © 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

    Benzinga

    13h

  • Anonymous Crypto Wallet Moves $81M Worth Of Ethereum

    What happened: $81,546,848 worth of Ethereum (CRYPTO: ETH) was just moved between 2 anonymous cryptocurrency wallets in a single transaction. This mysterious person's Ethereum wallet address has been identified as: 0xf9225f3288f6cb0d0f80a5561e73102565e8bd8c $81 million worth of Ethereum was sent to an unknown recipient, with Ethereum wallet address: 0xdbfc4549b325b6f00013a3861b87aab6696fdbee Why it matters: Cryptocurrency whales that own millions of dollars in Ethereum tend to move markets single-handedly. If the whale decides to exit this Ethereum position, there could be enough market impact to push down the price of ETH. It takes about $15 to $30 million of sell pressure to move the price of Ethereum down 2% on any given exchange. You can view more details about the transaction here According to Glassnode, there are 80,300 Ethereum wallets with over $100,000 in ETH. See Also: Best Crypto Apps 2021 and Best Crypto Portfolio Trackers Price Action: Ethereum is up 3% in the past 24 hours. See Also: How To Buy Ethereum Public Blockchain data sourced from Whale Alerts Twitter. This article was generated by Benzinga's automated content engine and reviewed by an editor. © 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

    Benzinga

    13h

  • Ethereum Classic's Price Increased More Than 11% Within 24 hours
  • Ethereum Name Service Hits All-Time High in Monthly Revenue—And May’s Not Over

    Besides raking in more than $8 million in revenue, Ethereum Name Service has seen record-breaking metrics across the board.

About Ethereum

Ethereum is a digital coin launched in mid-2015 by Vitalik Buterin. In terms of demand and level of capitalization, it is the second-largest cryptocurrency, exceeded only by Bitcoin. According to Coinmarketcap, Ethereum market capitalization is over $361 billion. Both the platform and the cryptocurrency are in high demand among software developers. In addition, Ethereum's blockchain is used as a platform for creating decentralized applications.

The platform has shown tremendous growth over the years. From 2016 to early 2022, the price of the coin has risen by over 27,000% (from around $11 to over $3,000).

Ethereum uses the Proof-of-Work consensus. The PoW mechanism provides the ability of a network node to verify that a miner adding a new block to the blockchain has actually completed the calculations. PoW protects the blockchain from unauthorized influences, provides a fair reward to the miner, and ensures the real value of the cryptocurrency, protecting the rate from a sharp drop.

However, despite its advantages, it has a number of disadvantages that led to major changes, which the network is undergoing at the moment. Under the Ethereum 2.0 upgrade, the network is set to transition from the Proof-of-Work algorithm to Proof-of-Stake. 

What is Ethereum 2.0 and when will it be released?

Ethereum 2.0 is a global network upgrade, intended to change the structure of the ecosystem significantly.  

Why are changes needed?

As the user base grows, the scalability of decentralized networks based on the Proof-of-Work (PoW) consensus mechanism suffers. This is due to the ever-increasing difficulty of mining and limited bandwidth. The network is already almost overcrowded and not ready for more mass use. Because of this, transactions are gradually becoming slower and the cost of the transaction fee is increasing.

The difficulty lies in the fact that many blockchain projects are based on the Ethereum network, which is why the load on the network is constantly increasing. With a high load on the blockchain, caused also by the hype around DeFi, transactions can freeze and not be confirmed by miners for a long period of time. As a result, this can lead to unavailability of decentralized services.

To solve the scaling issue, the Ethereum leadership proposed changes to the network structure:

  • Switch to the Proof-of-Stake consensus algorithm (currently the system works according to the Proof-of-Work algorithm). At the same time, validators, not miners, will maintain the blockchain network. Validators don’t need powerful computers. A regular laptop or PC that meets the minimum requirements is enough.

  • Introduction of a deflationary mechanism. Initially, Ethereum was an inflationary cryptocurrency with unlimited emission. But in 2021, the London hard fork (EIP-1559) was launched with a cryptocurrency burning mechanism. Therefore, now part of the coins from each user commission is destroyed. So far, 1985868.6 ETH has been burned since the launch of the hard fork.
  • Reduce commissions and increase throughput. It is expected that due to the increase in throughput, the cost of fees will decrease significantly.

Release date

Ethereum has planned several updates to improve the security, scalability, and reliability of the network. All of them will be deployed at different times:

  1. Beacon Chain - live

The update brought staking to Ethereum. Staking ensures the health of the blockchain and makes it possible to store coins on the Proof of Stake algorithm. 

In addition, Beacon Chain has become the basis for a future update.

  1. The Merge - estimated in 2022

The Merge will help transition from Proof-of-Work to Proof-of-Stake by “merging” the current mainnet with the Beacon Chain.

  1. Shard chains - estimated in 2023

Shard chains will come into operation after the merger of the main network with Beacon Chain. They will load the network on 64 new chains. As a result, each node in the network will process not the entire block, but its components. This will guarantee faster transactions and scalability of the network. 

Does Ethereum have a cap?

Unlike Bitcoin, Ethereum does not have a maximum limit for issuing coins. Currently, over 119 million Ethereum coins are in active circulation. However, there are still some restrictions on the Ethereum supply. Only 18 million ETH can be issued per year, a quarter of the total Ethereum supply. 

According to Ethereum founder Vitalik Buterin, this restriction gives everyone a fair chance to acquire coins. 

Is Ethereum mining profitable?

In 2022, Ethereum mining may be very profitable. You can view the hash rate of your video card and estimate the profitability using the mining calculator.

Some of  the advantages of Ethereum mining include:

  • maximum income received from mining
  • longer video cards service life
  • decentralization and smart contracts
  • ability to create applications on the blockchain

One of the main indicators that determine the profitability of mining is the price of a coin. Even though the price of ETH has been fluctuating, it continues to be one of the most profitable cryptocurrencies for mining.

Ethereum's prediction shows that the price could break through the first resistance level and trade at $3,381 by the end of March.

How do I buy ETH?

​​There are several ways to buy Ethereum in 2022:

Centralized exchanges

Exchanges provide an opportunity to buy a cryptocurrency for traditional currency. They control all transactions and often require identity verification.

Decentralized Exchanges (DEX)

DEXs don’t store funds and their users’ personal data on the servers. They operate on a distributed ledger and only act as a platform for matching requests to buy or sell user assets.

Electronic wallets

Many e-wallets allow buying cryptocurrencies with a debit or credit card, bank transfer, or even Apple Pay.