The price of Ethereum’s native token, Ether (ETH), is currently trading at a 15-month low compared to Bitcoin (BTC). This comes as a significant development, as it is the lowest point since Ethereum switched to proof-of-stake (PoS) consensus mechanism. The question now arises: will this downward trend for Ethereum continue throughout the remainder of 2023?
Ethereum
Ether (ETH) price experienced a significant decline between Oct. 6 and Oct. 12, reaching a seven-month low at $1,520. Despite a slight rebound to $1,550 on Oct. 13, it is evident that investor confidence and interest in Ethereum have been waning. This downtrend is supported by various metrics, and it raises concerns about the future
In a significant move to broaden its accessibility, Uniswap, the world’s largest decentralized cryptocurrency exchange, recently announced the launch of a closed beta version of its Android mobile app. This development comes after the exchange had been exclusively available on PC and iOS devices, limiting its reach to a specific user base. With the introduction
Extending its presence in the decentralized finance (DeFi) industry, Tangible protocol launched the real estate-backed stablecoin USDR. However, the recent events have revealed vulnerabilities in the stability of the coin’s peg to the U.S. dollar. A rush of redemptions led to a drain of liquid assets, including Dai (DAI), from USDR’s treasury. As a result,
Circle, the stablecoin issuer, has recently announced its venture into minting USD Coin (USDC) natively on the Ethereum layer-2 scaling protocol, Polygon. This move allows users and developers to access USDC without the need for bridging it from Ethereum to another blockchain. Circle Mint and Circle’s developer application programming interfaces (APIs) now fully support Polygon-based
Despite gaining around 35% in 2023, Ethereum’s native token, Ether (ETH), has consistently failed to decisively retake the $2,000 mark. This resistance level has proven to be a strong barrier, with multiple bearish rejections hindering its progress. This situation mirrors the bearish rejection experienced in 2018-2019 near $425, suggesting that Ethereum is currently in a
The recent major upgrades in the Ethereum network, namely the Merge and Shanghai, have inadvertently led to a rise in Ethereum staking. However, a new report by JPMorgan has shed light on the alarming cost associated with this growth – higher centralization and lower staking yields. This analysis, conducted by JPMorgan’s team of analysts led
In a shocking turn of events, the StarsArena Web3 app on Avalanche recently fell victim to a malicious attack, resulting in the loss of a significant sum of funds. This incident, which came to light through social media reports on October 5th, has raised serious concerns among users and the broader cryptocurrency community. A Devastating
Blockchain analytics investigators have made a startling discovery. They have uncovered an individual who is allegedly involved in a cryptocurrency laundering operation. This operation is specifically targeting stolen tokens from recent high-profile exchange hacks. The investigations, spanning the summer months of 2023, have shed light on the methods employed by these hackers and their connection
Friend.tech, a decentralized social media platform built on Coinbase’s layer-2 protocol, Base, has recently experienced significant growth in terms of revenue and total value locked (TVL). According to data from Dune Analytics, Friend.tech’s revenue has surged to 10,663 Ether (ETH), while its TVL has exceeded 30,000 ETH as of October 2nd. Friend.tech was launched in
