For years, various blockchain projects were rumored to be future “Ethereum killers,” projects that would unseat Ether from its throne and usurp its title as the top digital asset. That day seems to have come, though it appears it was an inside job. Lido-staked Ethereum (stETH) and other liquid staking derivatives are primed to render Ether (ETH), as an asset, obsolete.  The transition from proof-of-work (PoW) to proof-of-stake (PoW) allows everyday decentralized finance (DeFi) users to… Source link

Ethereum’s [ETH] co-founder, Vitalik Buterin, recently commented about the king of altcoin’s next steps. While attending the 2022 Messari mainnet event virtually, Vitalik said that the surge was the next move after its successful translation to Proof-of-Stake (PoS). Meanwhile, this was not the first time the crypto head mentioned the surge. On the day of the Merge, Vitalik also pointed out the same thing. However, Vitalik seemed to have expanded more on the details than… Source link

Grayscale Bitcoin Trust (GBTC), a cryptocurrency fund that currently holds 3.12% of the total Bitcoin (BTC) supply, or over 640,000 BTC, is trading at a record discount compared to the value of its underlying assets. Institutional interest in Grayscale dries up On Sep. 23, the $12.55 billion closed-end trust was trading at a 35.18% discount, according to the latest data. GBTC discount versus spot BTC/USD price. Source: YCharts To investors, GBTC has long served as a great alternative to gain… Source link

This week in coins. Illustration by Mitchell Preffer for Decrypt. The prices of crypto market leaders Bitcoin and Ethereum dipped on Wednesday following news that the United States Federal Reserve was hiking interest rates by another 75 basis points to stem the effects of inflation.  Back in June, when the Fed first raised interest rates by 75 basis points this year, many remarked that the hike was the steepest of its kind from the central bank since 1994.  In July, the Fed called another… Source link

Now that the Ethereum merge is complete, Vitalik Buterin thinks other blockchains like Dogecoin and Zcash should follow suit.  “As proof of stake matures, I expect it to just increase in legitimacy more and more over time,” Vitalik said over video chat at the Messari Mainnet conference on Friday.  “I hope that Zcash moves over. I am also very hopeful that Dogecoin is going to evolve over to proof of stake at some point soon,” he added. Earlier this month, Ethereum executed its… Source link

Following what has been a turbulent week of trading, bitcoin prices consolidated to start the weekend. The token rose marginally above the $19,000 level on Saturday, hovering near a three-month low in recent days. Ethereum was also consolidating in today’s session, as prices moved back above $1,300. Bitcoin Bitcoin (BTC) rose marginally above $19,000 on Saturday, as markets continued to digest this week’s heightened level of volatility. Following a low of $18,617.55 on Friday, the… Source link

In the midst of the bearish market cycle, Ethereum (ETH), the second largest cryptocurrency by market cap, has dropped nearly 30% from its September peak of $1,789. Most of the investors and traders expected September to be the most important month of the year for ETH, but the currency couldn’t hold on to the claim. At the time of writing, Ethereum (ETH) is selling at $1,325 with a loss of 1.10% over the last 24hrs. Though the currency didn’t fall at its 2022 lows, ETH’s 30% drop has… Source link

“What do you think of the merge?” I recently innocently asked William “Wills” de Vogelaere, co-founder of Spankchain and probably half a dozen other protocols in the grisly underworld of Ethereum. I was, of course, referring to the long-awaited software upgrade which booted Ethereum’s miners and replaced them with a cohort of environmentally friendly stakeholders on September 15.  “You mean Ethereum’s delusion?” de Vogelaere rejoined bitterly.  “Oho!” I thought. This could… Source link

Commodities: Energy sold off as well, with WTI crude oil falling 5.4%. Natural gas declined 3.4%, while European Brent crude and gasoline (RBOB) fell 4.4% and 4.7%, respectively. Despite its safe-haven reputation, gold fell 1.8%. Copper, used as a barometer of economic conditions, decreased 3.6%. Source link

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com. Ethereum is the second most valuable crypto project behind Bitcoin. The protocol enables the development of several decentralised solutions and apps and directly impacts music, gaming, entertainment, and decentralised finance (DeFi). However, it has not enjoyed a smooth sail in this year’s… Source link