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Ethereum

The Ethereum blockchain was built to serve as a single source of truth backed by a public transaction database and to function as a platform for a variety of decentralized applications ranging from financial services to games. Ether is the native token for the Ethereum ecosystem.

The Ethereum blockchain is preparing a significant upgrade, called the Ethereum Merge, tentatively scheduled for Sept. 13-16, 2022.

The Merge reflects a shift in Ethereum’s protocol in which the blockchain will move from a “proof-of-work” to “proof-of-stake” system.

Miners validate transactions by solving complex calculations before a new block can be added to the chain. This is the mechanism that Bitcoin ($BTC) runs on.

Miners are replaced by “validators,” who stake the ETH they own to validate new blocks on the chain. Avalanche ($AVAX) and Solana ($SOL) are proof-of-stake.

The Ethereum Foundation reports that moving to a proof-of-stake model will reduce the blockchain’s energy consumption by more than 99%.

Ether ($ETH) is Ethereum’s native crypto asset, while Ethereum is the underlying blockchain. No disruptions to ETH are expected following the Merge.

Unlike Bitcoin, the founder of Ethereum is publicly known. Vitalik Buterin published Ethereum’s introductory paper in 2013 and launched the project in 2015.

The Ethereum blockchain was built to serve as a single source of truth backed by a public transaction database and to function as a platform for a variety of decentralized applications ranging from financial services to games.

The Ethereum Foundation

*This content is for educational purposes and is not investment advice.

In 23 days the Ethereum network will transition to a proof-of-stake (PoS) consensus algorithm after operating as a proof-of-work (PoW) blockchain since July 30, 2015. While the change may not mean much to ethereum users and traders, what's changing under the hood is a very big deal.

What Is The Merge? A Brief Explanation of Ethereum's Transition From Proof-of-Work to Proof-of-Stake

What happened: On Monday a total of 1,191.61 Ether (CRYPTO: ETH) worth $1,951,020, based on the current value of Ethereum at time of publication ($1,637.30), was burned from Ethereum transactions. Burning is when a coin or token is sent to an unusable wallet to remove it from circulation.

1,191 ETH Worth $1M Was Just Burned

Bitfinex is courting the possibility of a proof-of-work Ethereum network after the merge and is now offering both ETHW and ETHS tokens.

Bitfinex Preps for Merge Eventualities, Offering Ethereum 'Chain Split Tokens'

Despite warnings on Crypto Twitter, NFT project SudoRare has disappeared from social media along with more than $800,000 in user funds.

NFT Project SudoRare Disappears With Roughly 520 Ethereum in User Funds

The number of weekly deposits to Ethereum's Beacon Chain is at its lowest level ever with just a few more weeks until the merge event.

Weekly Ethereum Staking Deposits Hit Record Low Just Weeks Before Merge

Users can now swap native crypto assets on the Thorswap platform without needing to use a third-party bridge. The post Thorswap launches cross-chain swaps for majority of Ethereum tokens appeared first on The Block.

Thorswap launches cross-chain swaps for majority of Ethereum tokens

Bitcoin

Crypto markets were back in the green on Tuesday, as bearish pressure marginally eased during today's session. Ethereum rallied back above $1,600 earlier in the day, less than 24 hours after nearing a breakout below $1,500. Bitcoin was also higher, moving past the $21,000 level.

Bitcoin, Ethereum Technical Analysis: BTC, ETH Marginally Higher Following Monday's Declines

On August 22, 2022, an unknown hacker tried to break the NEAR/ETH Rainbow Bridge. However, the hack was blocked, protecting users' money. It also cost the criminal around 5 ETH (~$8,000).

A Hacker Fails to Perform a Bridge Hack, Losing 5 ETH

Automated security processes caused the attackers to lose money while trying to submit a fabricated transaction on the Rainbow bridge.

Hackers Lose 5 Ether While Trying to Attack Near Protocol's Rainbow Bridge

The crypto strategist who nailed Bitcoin's (BTC) 2018 bear market bottom is predicting a strong year-end performance for Ethereum (ETH).

Analyst Who Called 2018 Bitcoin Bottom Predicts Strong Ethereum Rally by End of 2022 – But There's a Catch

Dogecoin

Dogecoin (CRYPTO: DOGE) co-founder Billy Markus and popular DOGE news account Mishaboar shared their opinions on independently developed bridges between DOGE and Ethereum (CRYPTO: ETH). What Happened: In a series of tweets on Monday, Mishaboar said that developers creating DOGE-ETH bridges should primarily aim to be transparent with the community.

DOGE Proponents Express Hope And Concerns Related To Dogecoin-Ethereum Bridges

Bitcoin (CRYPTO: BTC), the world's oldest cryptocurrency, continued its slump, moving below the $21,000 level this morning amid a sharp decline in the U.S. stocks on Monday. The second-most valued cryptocurrency, Ethereum (CRYPTO: ETH), also traded lower, falling below the $1,600 level this morning.

Bitcoin, Ethereum Drop Below These Major Levels, Here Are Other Crypto Movers That Should Be On Your Radar Today

Traders have been jumping in and out of Ethereum (CRYPTO: ETH) trades over the last month as the Merge to Proof-of-Stake approaches. What Happened: Open interest in ETH dropped sharply over the weekend as the asset's price fell to a low of $1,535, noted analysts in Kaiko's weekly crypto market overview report.

Derivatives Data Show Ethereum (ETH) Traders Are Bullish At This Price Level

Another cryptocurrency liquidity crisis is now underway at decentralized NFT lending protocol BendDAO.  What Happened: BendDAO gives out loans in Ethereum (CRYPTO: ETH) to users who deposit their NFTs on the platform.

BendDAO's Ethereum (ETH) Reserves Fall From $29M To $25K In 2 Days In Latest Liquidity Crisis: Here's What Happened

Major coins were mixed Monday evening as the global cryptocurrency market cap declined 1.4% to $1 trillion. Price Performance Of Major Coins Coin 24-hour 7-day Price Bitcoin (CRYPTO: BTC) -0.3% -11.2% $21,409.06 Ethereum (CRYPTO: ETH) 0.6% -14.7% $1,621.16 Dogecoin (CRYPTO: DOGE) -1.6% -10.9% $0.07 Top 24-Hour Gainers (Data via CoinMarketCap) Cryptocurrency 24-Hour % Change (+/-) Price Chiliz (CHZ) +18.4% $0.22 EOS (EOS) +16.35% $1.83 Curve DAO Token (CRV) +6.1% ​​$1.09 See Also: How To Get Free Crypto Why It Matters: Cryptocurrencies traded relatively stable on a day the S&P 500 and Nasdaq tumbled 2.1% and 2.55%, respectively.

Bitcoin, Ethereum, Dogecoin Mixed Amid Wall Street Rout: Analyst Sees Bullish News For Crypto From Key Data This Week

Ethereum regained investor support on Monday after slumping in recent days.

Ethereum Merge Drama Continues as Traders Pile Out, Then Back In

A widely followed crypto analyst says that macro conditions could spell trouble for the leading smart contract platform Ethereum (ETH). In a new video update, DataDash host Nicholas Merten tells his 515,000 YouTube subscribers that macro factors could overshadow the hype surrounding Ethereum's upcoming merge to a proof-of-stake consensus mechanism.

Ethereum (ETH) Could Get Hammered by Macro Conditions, According to Crypto Analyst – Here's Why

A crypto investing veteran is offering insights on the road ahead for the two largest crypto assets by market cap. In a new interview with CNBC's Squawk Box, CoinShares chief strategy officer (CSO) Meltem Demirors explains that there's an overall summer lull in crypto because many aren't actively trading while on vacation.

CoinShares Executive Meltem Demirors Predicts What's in Store for Bitcoin (BTC) and Ethereum (ETH) in Q3

The declining NFT market is forcing a lending protocol that leverages them to propose big changes.

How Ethereum NFT Lending Service BendDAO Aims to Solve Its Liquidity Crisis

What happened: On Sunday a total of 603.23 Ether (CRYPTO: ETH) worth $954,105, based on the current value of Ethereum at time of publication ($1,581.65), was burned from Ethereum transactions. Burning is when a coin or token is sent to an unusable wallet to remove it from circulation.

603 ETH Worth $954K Was Just Burned

Arca's director of research lays out the case for buying ETH ahead of the Merge.

Is Ethereum's Merge Priced-In?

Ethereum's long-awaited transition to Proof-of-Stake will finally take place later this summer, but there are concerns over how it will affect ETH's price. Find out about the benefits of Merge from an investor's point of view. The post The Investor's Guide to the Ethereum Merge appeared first on Bitcoin Market Journal.

The Investor's Guide to the Ethereum Merge

Ethereum's long-awaited transition to Proof-of-Stake will finally take place later this summer, but there are concerns over how it will affect ETH's price. Find out about the benefits of Merge from an investor's point of view. The post The Investor's Guide to Ethereum Merge appeared first on Bitcoin Market Journal.

The Investor's Guide to Ethereum Merge

Ethereum extended recent declines to start the week, as the token briefly fell below a key support point in today's session. Monday's sell-off saw the majority of the cryptocurrency top 100 in the red, with the global market cap down 1.61% as of writing. Bitcoin also slipped, once again falling below $21,000.

Bitcoin, Ethereum Technical Analysis: ETH Below $1,600, BTC Under $21,000 to Start the Week

The token of the open-source blockchain platform EOS was the top gainer last week — the coin shot up 13.8% in the period, outperforming gains clocked by Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), and Dogecoin (CRYPTO: DOGE).  Top Gainers of Week Ending Aug. 22, 2022 (Data via CoinMarketCap) Cryptocurrency 7-Day % Change (+/-) All-Time High Value/Date Reached % Change (+/-) Since All-Time High EOS (EOS) +13.8% $22.89 On April 29, 2018 -93.3% Chiliz (CHZ) +7.65% $0.89 On March 13, 2021 -78.7% USDD (USDD) +0.4% $1.03 On May 4, 2022 -3.2% Fork Sets The Buzz The EOS Network Foundation announced recently that it had combined resources with partners such as Wax and UX Network to form a “coalition of blockchains.

News for Ethereum Crypto (ETH)