Ethereum

Disclaimer: The datasets shared in the following article have been compiled from a set of online resources and do not reflect AMBCrypto’s own research on the subject Ethereum [ETH], the second-largest cryptocurrency in the market, successfully completed its long-awaited switch from proof-of-work to proof-of-stake PoS recently, ushering in a new era for the network. Although there was excitement during and immediately after the Merge, as the changeover is often known, driving… Source link

Following the completion of The Merge upgrade, Ethereum (ETH) transitioned into a proof-of-stake (PoS) consensus mechanism, helping the blockchain become energy efficient and secure. However, mining data reveals Ethereum’s heavy reliance on Flashbots — a single server — for building blocks, raising concerns over a single point of failure for the ecosystem. Flashbots is a centralized entity dedicated to transparent and efficient Maximal Extractable Value (MEV) extraction, which acts as a… Source link

In a tweet two days ago, Bluntz predicted that ETH is only a 10% drop away from stabilizing. The Crypto trader is famous for accurately predicting Bitcoin’s 2018 bear market. More popular as the “smart contracter,” the strategist explained that he had been closely tracking ETH price charts since August.  “Ethereum is in the final stages of its current bearish run and will swing upward soon,” he assured his 211,000 followers. Once the token corrects its… Source link

This week in coins. Illustration by Mitchell Preffer for Decrypt. Ethereum is down bad after merge week. The long-anticipated transition to a proof-of-stake network happened on Thursday as planned. Once it did, Ethereum (ETH) dipped 8% to under $1,500, and kept falling further.  ETH begins the weekend at $1,424, down 17% over the last seven days. It took the biggest losses among the top thirty cryptocurrencies by market capitalization this week.  Market leader Bitcoin (BTC) also sank. It… Source link

Ethereum’s native token Ether (ETH) has been forming an inverse-cup-and-handle pattern since May 2021 on the weekly chart, which hints at a potential decline against Bitcoin (BTC).  ETH/BTC weekly price chart featuring inverse cup-and-handle breakdown setup. Source: TradingView An inverse cup-and-handle is a bearish reversal pattern, accompanied by lower trading volume. It typically resolves after the price breaks below its support level, followed by a fall toward the level at a length equal… Source link

It’s fair to say that Ethereum‘s (ETH -5.82%) highly anticipated Merge — whereby the cryptocurrency migrated from the resources-draining proof-of-work mining protocol to the more efficient proof of stake — went fairly smoothly. The engineers nailed the process, but investors aren’t exactly celebrating right now. The world’s second-most-valuable crypto initially sold off following the Merge. An investment losing value after a widely expected bullish event isn’t a surprise…. Source link

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The successful merge carried out by the Ethereum network this week hasn’t staved off the effects of crypto’s ongoing bear market, with Ethereum’s price down around 8% in the past 24 hours. Ethereum, the second largest cryptocurrency by market cap, is currently trading hands around $1,460, down 8.2% over the past 24 hours, according to CoinMarketCap. Over the past seven days, Ethereum shed more than 14% of its value, tumbling from $1,740.88 on Wednesday to as low as $1,448.95 in the early… Source link

Ethereum’s upgrade to proof-of-stake (PoS) may make it more vulnerable to government intervention and censorship, according to the lead investigator of Merkle Science.  Speaking to Cointelegraph following the Ethereum Merge, Coby Morgan, a former FBI analyst and the lead investigator for crypto compliance and forensic firm Merkle Science, expressed his thoughts on some of the risks posed by Ethereum’s transition to PoS. While centralization issues have been broadly discussed leading up… Source link

Equity markets also had their problems with the tech-focused Nasdaq and the S&P 500, which has a strong technology component, both declining more than a percentage point, and the Dow Jones Industrial Average (DJIA) losing about 0.5%. Investors remain skittish about inflation and the looming robustness of the U.S. central bank’s next interest rate hike at its Federal Open Reserve Committee meeting in less than a week. Observers of monetary policy widely expect a third, consecutive 75 basis… Source link