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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.

Bitcoin (CRYPTO: BTC) moved lower, with the cryptocurrency prices falling below the key $61,000 level on Thursday. Ethereum (CRYPTO: ETH) also recorded losses, trading below the key $3,000 mark this morning.

Ethereum Falls Below $3,000 Following Jobless Claims Data; Pendle Becomes Top Loser

Bitcoin

Spot Bitcoin ETFs saw modest inflows on May 8, with the $11.5409 million inflow into the Bitwise ETF (NYSE:BITB) being the only non-zero balance of the day. What Happened: Notably, Grayscale's GBTC (OTC:GBTC), BlackRock‘s iShares Bitcoin Trust (NASDAQ: IBIT), the Fidelity Wise Origin Bitcoin Fund (BATS:FBTC) and Ark's ARKB (BATS: ARKB) reported neither inflows nor outflows on Wednesday.

Spot Bitcoin ETFs Clock $11M Net Inflows On Wednesday As Grayscale Shifts Focus To Spot Ether ETF

In light of recent regulatory actions, JPMorgan analysts remain confident that the SEC's scrutiny of Robinhood (NASDAQ:HOOD) Crypto will not impede the approval of spot Ethereum ETFs. What Happened: This perspective comes even as the retail brokerage faces potential enforcement from the SEC for its dealings in what are alleged to be unregistered securities, The Block reported.

JPMorgan Analysts Optimistic About Future Approval Of Spot Ether ETFs Despite Regulatory Hurdles

JPMorgan analysts say the SEC's Wells notice to Robinhood Crypto is unlikely to hinder the potential eventual approval of spot Ethereum ETFs.

JPMorgan says SEC's Wells notice to Robinhood Crypto shouldn't hinder eventual approval of spot ether ETFs

The widely followed analyst Benjamin Cowen is saying that Ethereum (ETH) is at risk of facing more downside over the coming months. In a new video, Cowen tells his 801,000 YouTube subscribers that monetary policy is likely to negatively affect Ethereum.

Analyst Benjamin Cowen Warns Ethereum ‘Still Facing Headwinds,' Says ETH Will Only Go Up if Bitcoin Does This

The price of Ethereum (ETH) has been hovering near a crucial support level at $3,010, experiencing a 2.57% drop over the past 24 hours, according to CoinMarketCap data.

Traders Increase Short Positions as Grayscale Withdraws Ethereum Futures ETF Application

Cardano

Cardano (CRYPTO: ADA), the tenth-largest cryptocurrency by market cap, defied the broader market downturn to post impressive gains in the 24-hour timeframe. What Happened: ADA spiked 4.23% in the last 24 hours to trade at $0.463 at the time of publication, according to data from Benzinga Pro.

This Ethereum Killer Is Defying Gravity Amid Downturn In Major Crypto Prices — Are We Getting Ready For A 'Parabolic Bull Run?'

Dogecoin

Leading cryptocurrencies saw a decline on Wednesday, extending the run of losses that started as the week began. Cryptocurrency Gains +/- Price (Recorded 8:45 p.m.

Bitcoin, Ethereum, Dogecoin Continue To Slip: Analyst Says King Crypto Network Fundamentals Indicate 300% Upside, Could Top Between $250K-$275K

Ethereum may never be a deflationary currency again after its latest hard fork, according to CryptoQuant.

Ethereum Is No Longer ‘Ultrasound Money' After Dencun Upgrade: Analysts

Crypto asset manager Grayscale Investments' proposal for an exchange-traded fund tied to ether futures was withdrawn last week, according to a Tuesday notice from the U.S. Securities and Exchange Commission.

Grayscale's application for ethereum futures ETF withdrawn

Cryptocurrency markets could not push into the green, as Bitcoin (CRYPTO: BTC) spot ETF outflows resumed on Tuesday. What Happened: Major cryptocurrencies are trading slightly down at the time of writing: Prices as of 4 p.m.

Bitcoin, Ethereum, Dogecoin Trade Sideways, Trader Asks: 'Does It Matter If You Buy Bitcoin At $62,000 Or $58,000'?

Crypto bank Anchorage Digital is drawing attention for suddenly accumulating massive amounts of one decentralized finance (DeFi) altcoin. Blockchain tracking firm Lookonchain says that Anchorage Digital has used 13 wallets in the past month to accumulate more than $49.4 million worth of MKR, the native token for the DeFi protocol Maker.

Institutional Crypto Firm Anchorage Digital Accumulates Eight Figures Worth of Ethereum DeFi Coin: Lookonchain

New supply of ether is growing at its fastest daily rate since the Merge as fees burned have plummeted after the Dencun upgrade.

Ethereum's Dencun upgrade is making ETH inflationary again: CryptoQuant

A new Ethereum Improvement Proposal, EIP 7702, spearheaded by Vitalik Buterin and fellow collaborators, aims to refine account abstraction on the Ethereum network, enhancing quantum resistance and compatibility with existing standards.

Ethereum Proposal by Vitalik Buterin Introduces Advanced Account Abstraction Features

Grayscale has retracted its application to list its ethereum trust, known as ETHE, as detailed in a filing with the U.S. Securities and Exchange Commission. James Seyffart, a Bloomberg analyst specializing in exchange-traded funds (ETF), expressed puzzlement over Grayscale's decision to do so.

Grayscale Withdraws Ethereum ETF Proposal Amid Skepticism Over SEC Approval

Solana

The Lehman Brothers-driven global financial crisis of 2008 showed the danger of spreading money around too much.

Restaking Is Hot in Ethereum and Entering Solana. Should We Worry?

A new report characterizes Ethereum (CRYPTO: ETH) as this cycle's underperformer in the cryptocurrency market, with ongoing challenges that are impacting its valuation and adoption. What Happened: Despite its strong historical correlation with Bitcoin (CRYPTO: BTC), Ethereum's fundamentals are seen as a potential impediment to broader investment in the cryptocurrency ecosystem, according to 10x Research.

Is Ethereum 'This Cycle's Basket Case'? 10x Research Points Out ETH's 'Only Bull Story'

Shiba Inu

Everyone's favorite memes have taken the biggest hit today as the wider market sees a moderate drawback in comparison.

Meme Coins DOGE and SHIB See Losses as Ethereum Drops 4%

Ethereum (CRYPTO: ETH) has underperformed relative to Bitcoin (CRYPTO: BTC) in the ongoing cycle, with the listing of Bitcoin spot ETFs proving to be the difference. What Happened: Bitcoin broke past its all-time high last month, spurred by significant demand for new investment vehicles that track its spot price.

Spot The Difference In YTD Returns? Why Ethereum Is Trailing Bitcoin In 2024

Vitalik Buterin and co-authors proposed EIP-7702 as an alternative to EIP-3074 to refine account abstraction on Ethereum.

Vitalik Buterin proposes EIP-7702 aiming to refine account abstraction on Ethereum

While most of the top cryptocurrencies are trading sideways or slightly down, Solana (SOL) stands out with a nearly 2.28% increase over the past day.

Solana Gains 5%, While Bitcoin and Ethereum Experience Minor Dips

The cryptocurrency market slid further Tuesday as market sentiment remained weak amid regulatory potshots taken at cryptocurrency entities.

Bitcoin Ethereum, Dogecoin Sink Further As Regulatory Woes Weigh Down Investors: Analyst Says Majority Top Market Cap Cryptos In 'Slight Buy Zones'

The crypto market maker said it has partnered with OSL and HashKey — both sub-custodians for spot bitcoin and ether ETFs in Hong Kong.

Wintermute announces liquidity support for Hong Kong spot bitcoin, ether ETFs

Looking to strengthen its market share in the Asia region, Wintermute will become a liquidity provider to the recently launched Hong Kong-listed spot bitcoin and ether exchange-traded funds.

Crypto Trading Firm Wintermute to Provide Liquidity for Hong Kong Bitcoin and Ether ETFs

The firm appears to sidestep an “approve futures, deny spot” ETF strategy that could have landed in the courts.

News for Ethereum Crypto (ETH)