Ethereum

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Ether (ETH) bulls like a positive spread between its spot and ETH futures prices because the so-called contango reflects optimism about a higher rate in the future. But as of Aug. 1, the Ethereum futures curve slid in the opposite direction. Ethereum quarterly futures in backwardation On the daily chart, Ethereum futures quarterly contracts, scheduled to expire in December 2022, have slipped into backwardation, a condition opposite to contango, wherein the futures price becomes lower than… Source link

Ethereum is in the final stages of its consensus mechanism shift, and the mining process would become redundant post the Merge, eliminating miners from the ecosystem. For now, it seems like The Merge is on track to take place in September. Quite recently, Tim Beiko, the lead developer at Ethereum, shared details about the final testing phase of the upgrade. As outlined in a recent article, for the last testnet PoS transition, Ethereum’s Goerli will merge with Prater, and the same is… Source link

Fidelity’s lead macro strategist Jurrien Timmer says that Bitcoin (BTC) and Ethereum (ETH) have reached a point where they are likely impervious to competition. In an interview with Raoul Pal on Real Vision, Timmer compares Bitcoin and Ethereum to US tech giant Apple and its massive presence and dominance over its industry. “Per Metcalfe’s law, the bigger the network gets, the more exponentially the valuation of that network becomes. And I’ve used the example of Apple… Source link

A widely followed crypto analyst says that Ethereum (ETH) could pull off an unexpected rally back to its highs around $4,800 when hype over the ETH 2.0 merge builds up. The pseudonymous analyst known as Kaleo tells his 530,000 Twitter followers that ETH has the best chance of any crypto asset to run to all-time highs despite the broader downtrend in the digital asset market. Kaleo says that as Ethereum’s merge to proof-of-stake approaches, a narrative of the “flippening”… Source link

The Ethereum “Merge” has become a hot topic among top crypto analysts after the incident that led to the collapse of the Ethereum network in the sale of Otherside by Yuga labs, with nearly $200M lost as gas fees. Related Reading: Proof of Work Vs Proof of Stake – Laneaxis The Ethereum merge, also known as Ethereum 2.0, is the upgrade of the existing execution of the Ethereum layer 1 from proof-of-work (PoW) to proof-of-state (PoS), Beacon chain. POW was first used by the early… Source link

Data shows the Ethereum supply locked in the ETH 2.0 staking contract was holding unrealized losses amounting to almost $15 billion just a few days back. Realized Price Of ETH 2.0 Deposits 44% More Than Normal Supply As per a special report released by Glassnode and CoinMarketCap, the Ethereum locked into the 2.0 contract is holding heavy losses right now. A relevant metric here is the “realized cap,” which is a method of calculating the capitalization by… Source link

This week in coins. Illustration by Mitchell Preffer for Decrypt Last week’s market-wide positive price action was sustained this week as leading cryptocurrencies continued making significant gains. Bitcoin, as of this writing, had added 8.5% to its market value to sell for $24,214, and Ethereum fans enjoyed an even greater rally, with their favorite coin blowing up 12.5% to $1,714. Much of the buzz around Ethereum is down to the fact the network is laying the groundwork for a major… Source link

Following strong gains on Friday, bitcoin was consolidating under a key resistance level to start the weekend. Bulls opted to secure gains as price uncertainty heightened in crypto markets, which as of writing are down 1% on the day. Ethereum was also marginally lower in the session. Bitcoin After strong gains on Friday, bitcoin (BTC) was trading marginally lower on Saturday, as prices fell below a key resistance point. Following yesterday’s high of $24,294.79, which saw prices… Source link

The Ethereum blockchain is on the verge of one of the most crucial technical updates since its inception, moving from proof-of-work (PoW) to proof-of-stake (PoS), also called Ethereum 2.0, or Eth2.  Ethereum devs gave Sept. 19 as the perpetual date for the merger of the current PoW chain to the PoS chain. The Merge is expected to be deployed on the Goerli testnet in the second week of August. After the successful integration of the Goerli testnet, the blockchain will initiate the Bellatrix… Source link