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2022-09-13 06:33:02 Ethereum’s Merge upgrade is only days away

Ethereum (ETH) Merge upgrade, the focus is now on how the asset and general digital currency sector will respond to the transition to the Proof-of-Stake (PoS) protocol and how Ethereum’s price will react and if the migration will be smooth. According to Sotiriou, after the transition, some of the notable challenges.

Notably, a section of the crypto community has maintained that for the Merge’s impact to be felt, the September 15 event must be successful. At the same time, the analyst acknowledged that the Merge is a complex technical event that will affect Ethereum and the general cryptocurrency sector. However, he pointed out that the long-term benefits outweigh the short-term concerns. The projection is also backed by mainstream players, including the Bank of America.

Source

https://t.me/Cash_Blockchain_News Open / Comment

2022-09-12 05:52:02 Payments Firm Bolt Scraps Deal to Acquire Crypto Company Wyre

California-based online payments company Bolt is pulling out of an agreement to buy crypto provider Wyre. The news of the scrapped deal, which was agreed to earlier this year, comes amid plunging valuations in the crypto and fintech sectors. Bolt Financial, a U.S. technology company headquartered in San Francisco, said Friday,

The deal was considered one of the largest crypto business acquisitions this year. After a funding round in January, Bolt was last valued at $11 billion. The report notes, however, that high tech valuations have since come under increased pressure as investor sentiment was hit by recession fears and negative developments in the equity markets. Industry valuations have dropped significantly in the crypto sector as well during the market slump in the past months.

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2022-09-11 10:47:02 Ethereum ready for The Merge as last shadow fork completes successfully

Ethereum (ETH) developers confirmed the successful completion of the prerequisites — shadow forks — required for the highly anticipated blockchain upgrade, The Merge. Shadow forks help developers stress test synchronization assumptions to ensure network safety during permanent upgrades.

Nearly six months in, Ethereum research and engineering company Nethermind confirmed that the transition in Mainnet-Shadowfork-13 — the last shadow fork — was successful, signaling the readiness of the network for migrating to a proof-of-stake (PoS) consensus mechanism. The testnet allowed Ethereum developers to practice running nodes, deploying contracts and testing the infrastructure, among other functionalities. As a result, shadow forks allow developers to gauge the implications of network upgrades before they happen.

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2022-09-10 06:44:02 Bitcoin soars more than 10% as it trades above $21,000

Cryptocurrency prices rose across the board on Friday, with bitcoin jumping as much as 10% and ether rising more than 6%. At the time of writing, bitcoin is changing hands at roughly $21,100 per Coinbase data, which represents a rise of 9.2% over the past 24 hours. Meanwhile ether is trading above $1,700, up 6.4% in the past day.

The Ethereum blockchain is moving to a proof of stake consensus mechanism some time between Sept. 10 and Sept. 20. The long-anticipated upgrade spurred traders to take bets on the second largest cryptocurrency by market cap in August. The Block identified in July that ether derivatives trading was surging ahead of The Merge. Cryptocurrencies have begun to trade in correlation with equities, having incrementally followed them since January.

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2022-09-07 05:05:11 $33 Million Worth of Staked ETH Removed from Curve by Three Arrows Capital Wallet

A wallet associated with 3AC has removed $33 million worth of stETH from Curve’s liquidity farming pool. For the first time in roughly 10 days, one of the wallets associated with the troubled cryptocurrency hedge fund, Three Arrows Capital, has moved some funds. The transaction can be tracked here.

On-chain data reveals that the address removed $33 million worth of stETH (staked ETH) from the Curve liquidity pool, alongside roughly $2 million worth of BTC. Data from Etherscan reveals that an address associated with Three Arrows Capital has removed some $33 million (20,945 stETH) from the Curve Liquidity Farming Pool contract. The address (ending in 58143) also removed 202 wrapped BTC (WBTC) worth about $4 million in liquidity. There doesn’t seem to be any reasoning behind the move.

Source

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2022-09-06 08:14:02 Ethereum Founder Launches PoS Book Ahead Of Merge

The Ethereum upgrade consists of a category of projects. These projects aim to improve the blockchain’s security, scalability, and sustainability. At the moment, each of these projects is still under development. Notwithstanding, every one of them will be deployed at a time already slated.

Setting the foundation of the future Ethereum upgrade is the Beacon Chain. This project represents the launching of Ethereum staking. The Beacon Chain was the drive into the latest system of the network, according to the community. Sharding, the final stage of the upgrade, aims to enlarge the network’s capacity. At the end of the Sharding project, the Ethereum network can accommodate more data. It can also work seamlessly with L2s to mitigate the amount and network charges. This is because he believes that the proof of stake concept is still confusing to many.

Source

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2022-09-05 09:33:02 Ethereum Classic Hashrate Touches New All-Time High

Ethereum Classic has been seeing some of the largest growth with the news of the Ethereum Merge. Where other cryptocurrencies were seeing single-digit gains, Ethereum Classic had seen double-digit gains that pushed its price well past the $40 mark at one point.

Through all of the excitement of the mid-August market recovery, Ethereum Classic had seen tremendous support from the crypto market. As its gains rose, so did the activity on the network, and the hashrate quickly hit a new all-time high in mid-August. However, the gains had begun to shed, and ETC had lost its footing in the $40 territory, now trending just above $30. Despite this, the activity on the network has not slowed. There has instead been an increase in hashrate, and it has reached a brand-new all-time high.

Source

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2022-09-04 11:16:02 Binance Halts Deposits and Withdrawals of Defunct Terra Ecosystem Tokens

Binance, says in the recent past it supported the deposits and withdrawals of Shuttle Bridged LUNC via the Terra Classic and Ethereum networks. Binance says it has also supported Shuttle Bridged USTC via the BNB Smart Chain (BEP20), Ethereum network (ERC20), Polygon network and Terra Classic network.

The exchange has informed its users of forthcoming changes due to the impending shutdown of the Shuttle Bridge. First, starting on Sept. 7, deposits and withdrawals of Shuttle Bridged LUNC and USTC made using the Ethereum network (ERC20), BNB Smart Chain (BEP20) and Polygon network, respectively, will be halted indefinitely. Users can still use the Terra Classic network to deposit and withdraw their LUNC and USTC tokens, nevertheless. Spot and margin trading for LUNC and USTC, as well as relevant services on Binance Earn.

Source

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2022-09-03 04:05:02 Bitcoin Sideways Action at $20K Goes on as Celsius Network (CEL) Skyrockets 28%

Despite the choppy price action, Bitcoin managed to remain above $20K, while a lot of the altcoins are charting slight gains. During the past day, most of the cryptocurrencies managed to recover slightly from the previous choppy price action. This resulted in the total market capitalization reclaiming the coveted $1 trillion level.

The past 24 hours were relatively calm for Bitcoin. The cryptocurrency reclaimed the important $20K level, albeit not so convincingly. At the time of this writing, it is trading at around $20,100 (on Binance). It’s worth noting, though, that BTC did drop to $19,500 once again. It appears that this level provides serious support because the cryptocurrency dipped toward it on a few occasions, and it prevented any further sell-offs each time. The cryptocurrency skyrocketed by a whopping 28% over the past 24 hours in a market that’s relatively flat.

Source

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2022-09-02 10:21:02 Indonesia plans to set up its crypto bourse by the end of 2022

The government of Indonesia returned to its plan to set up a digital assets exchange, publicly announced first time back in 2021. A so-called “crypto bourse” is planned to be established by the end of 2022. According to DealStreetAsia, Indonesia’s deputy trade minister Jerry Sambuaga confirmed during the NXC International Summit 2022 in Bali.

CEO of Tokokrypto, one of the 25 licensed crypto exchanges in Indonesia with a large share owned by Binance, Pang Hue Kai, called a bourse project a catalyst for the Indonesia crypto ecosystem. The first announcement of the national crypto bourse in Indonesia appeared in December 2021. At that time, a joint venture was said to be launched by the venture-capital arm of state-owned telecom company PT Telkom Indonesia and one of the world's largest crypto exchanges, Binance.

Source

https://t.me/Cash_Blockchain_News Open / Comment