Category Archives: Ethereum
Ethereum killer Cardano rolls out version 8.1.1, likely to catalyze ADA price recovery – FXStreet
Cardano (ADA), one of the largest competitors of the Ethereum network, was recently labeled a security by the US Securities and Exchange Commission (SEC). The SECs crackdown resulted in a steep decline in ADA price, and the altcoin has been struggling to wipe out its losses since June 5.
The Ethereum killer blockchains community of developers has released a new version of Node 8.1.1 on the mainnet and invited Staking Pool Operators (SPOs) to upgrade to the release. This development is likely to fuel a recovery in ADA price.
Also read: Cardano, MATIC and Solana attempt to recover amidst exchange delisting and SEC crackdown
Early on June 20, Cardano developers launched Node version 8.1.1 on the ADA blockchains mainnet. According to the Github release, the upgrade is mainnet-ready and has significant improvements over the previous version. Developers have strongly urged all SPOs to update to 8.1.1.
The update has been marked as a minor release and fixes previously identified issues for peer-to-peer technologies- running on the Cardano blockchain.
Richard McCrackn is a well-known figure in the Cardano community who tweeted details of the new release to his 60,300 followers. McCrackn broke down the details of the technical update and notes that version 8.1.1 is a significant improvement over 8.0.0. It contains performance upgrades and corrects previously identified concerns.
Despite the SECs regulatory crackdown on Cardano, the community of developers are busy building and improving the competing blockchain. This signals confidence in the developer community, and technical updates typically act as catalysts for the tokens recovery in the short term.
ADA price declined from $0.3793 on June 5 to $0.2591 on Binance at the time of writing. ADA price dropped by 31.7% between June 5 and June 20, a steep decline for the Ethereum killer token.
While Cardano price eyes recovery, technical updates to the ADA blockchain are likely to act as a catalyst. The recent rollout of a new version of the Node could fuel a recovery in the altcoin. The closest resistance for ADA price is the 10-day Exponential Moving Average (EMA) at $0.2726.
ADA/USDT one-day price chart from Binance
Once the ADA price begins its recovery, the $0.3537 level that acted as support throughout May is the next target for the altcoin.
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Ethereum killer Cardano rolls out version 8.1.1, likely to catalyze ADA price recovery - FXStreet
Why Bitcoin- And Ethereum-Related Stock Greenidge Generation (GREE) Is Exploding Higher – Greenidge Gener – Benzinga
June 21, 2023 11:28 AM | 1 min read
Greenidge Generation Holdings Inc (NASDAQ:GREE) shares are trading higher by 11.29% to $3.45 Wednesday morning on heavy volume. The stock is trading higher amid strength in the price of Bitcoinfollowing BlackRock's Bitcoin ETF application.
What Happened?
The cryptocurrency market is experiencing a notable upswing driven by several favorable developments, including the introduction of EDX Markets, a newly established exchange supported by prominent financial entities such as Charles Schwab, Fidelityand Citadel Securities.
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These influential players from the finance industry are lending their backing to EDX Markets, contributing to the positive momentum within the market.
See Also:What's Going On With Nikola (NKLA) Shares
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What Else?
Greenidge Generationowns and operates a vertically integrated cryptocurrency data center and power generation company. With a higher Bitcoin price, the profitability of Bitcoin mining improves.
Miners like Greenidge Generation incur costs for electricity, equipmentand operational expenses. When the price of Bitcoin is higher, the revenue generated from mining can surpass these costs, leading to increased profitability.
According to data fromBenzinga Pro, GREE has a 52-week high of $48.90 and a 52-week low of $1.55.
2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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Ethereum Layer 2 Optimism beats MATIC to the curb, sees massive spike in active addresses – FXStreet
The competition among Ethereum Layer 2 scaling solutions has intensified after the US Securities and Exchange Commissions (SEC) crackdown. Polygon networks MATIC was the largest Layer 2 scaling solution before the SEC labeled the token as a security.
Crypto intelligence trackers have recorded a decline in daily user activity on the MATIC network, while Optimism (OP) observed a significant increase. This signals OP is likely dethroning MATIC in terms of daily activity and user adoption.
Also read: Cardano, MATIC and Solana attempt to recover amidst exchange delisting and SEC crackdown
Based on data from Polkadot Insider, a tracker for crypto activity of several projects, Optimism added 77.1% new daily active users over the past month. In the same timeframe, MATIC suffered a loss of 23.4% daily active users.
Growth in daily active addresses across several blockchains
The declining activity on the MATIC network can be attributed to the Securities and Exchange Commissions labeling the asset as a security. Since MATIC was tagged as a security, the token suffered delisting from social trading platforms like eToro and exchanges like Robinhood.
During the same time, Optimism released a key technical development, the Bedrock update. The Bedrock upgrade cut deposit confirmation times by 90%, fueling a bullish sentiment among OP users and driving the tokens adoption.
Over the past 30 days, MATIC and OP prices declined nearly 30%. However, Optimism beats MATIC in user activity, signaling a faster recovery in the Layer 2 token rather than Polygon.
Since Monday, OP price has rallied over 6% while MATIC has failed to score gains in the same timeframe.
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Ethereum Layer 2 Optimism beats MATIC to the curb, sees massive spike in active addresses - FXStreet
Cryptocurrencies Price Prediction: Bitcoin, Ethereum & Cryptocurrencies European Wrap 21 June – FXStreet
Bitcoin price has increased 74% in the last six months, and recent developments suggest more gains are on the way. Specifically, the BTC dominance shows a bullish outlook while the short-term picture remains optimistic.
Bitcoin price rallied past $28,900, wiping out recent losses stemming from the Securities and Exchange Commissions crackdown on cryptocurrencies. Rising institutional interest in spot Bitcoin Exchange Traded Funds (ETFs) and news on regulation of cryptocurrencies in Europe and Southeast Asia has acted as a catalyst for the assets recovery.
The market capitalisation of cryptocurrencies rose 5.7% in the last 24 hours to 1,134 trillion. Bitcoin was the engine of growth, but buyers quickly expanded to some altcoins. Bitcoin is up 7.6%, Ethereum is up 4.7%, and the top altcoins are up from a modest 1.9% (XRP) to 9.4% (Litecoin).
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.
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Chainlink & Ethereum: Powering DeFi’s Future With Caged Beasts – Blockchain Reporter
Welcome to a world where traditional finance collides with the transformative power of blockchain technology. In this article, we will dive into the exciting domain of decentralized finance (DeFi) and explore the prospects of three key players: Chainlink (LINK), Ethereum (ETH), and the intriguing Caged Beasts (BEASTS).
Discover how Chainlinks partnership with SWIFT is pushing the boundaries of blockchain interoperability, why Ethereum is revolutionizing DeFi, and the narrative behind Caged Beasts. Join us on this journey as we unravel the potential of DeFi and its impact on the financial industry.
Chainlink (LINK), a leading web3 infrastructure provider, has entered into a groundbreaking partnership with SWIFT, the global financial messaging service. This collaboration aims to link private and public blockchains, creating better blockchain interoperability in the banking sector.
By leveraging Chainlinks Cross-Chain Interoperability Protocol (CCIP), SWIFT and an association of banks are exploring the seamless integration of tokenized assets with blockchain technology. This institutional interest in accommodating customer needs through authorized and public blockchain networks reflects the growing significance of Chainlink in the world of finance.
Ethereum (ETH), the trailblazer of smart contract platforms, has set the foundations for the world of decentralized finance (DeFi). With its rock-solid infrastructure, Ethereum empowers developers to unleash their creativity and build decentralized applications (dApps) that use smart contracts.
Ethereums native cryptocurrency, Ether (ETH), serves as the fuel propelling these dApps, enabling users to dive into a sea of financial opportunities within the Ethereum ecosystem. Its adaptability and scalability have positioned Ethereum as a leading player in the DeFi arena, paving the way for decentralized exchanges, lending protocols, and the explosive universe of non-fungible tokens (NFTs).
Ethereums significance in the future of DeFi cannot be overstated. As DeFi continues to develop, Ethereums ability to support complex smart contracts and its strong network effect will play a crucial role in the ecosystems growth. Its programmability allows for the creation of innovative financial instruments and decentralized applications, fostering a vibrant and dynamic DeFi landscape.
Caged Beasts (BEASTS) is one of the most promising presale community tokens in DeFi right now. Caged Beasts introduces a world-building concept that merges a captivating narrative with the potential for financial growth. Symbolizing caged liquidity, the project tells the story of Rabbit 4001, a tortured creature driven by vengeance to become a mad scientist. Injecting caged animals with mutagens, Rabbit 4001 transforms them into powerful, cybernetic beasts on the brink of breaking free. This imaginative world captures its community, sparking engagement and excitement.
With 75% of funds locked until the release date, Caged Beasts introduces a unique mechanism that aligns the growth of locked funds with the gradual evolution of caged animals. When these funds are released, investors will see first-hand a realization of the metaphorical growth of these caged animals.
Additionally, Caged Beasts commitment to marketing and community development is evident through the allocation of 25% of funds to a dedicated marketing wallet, ensuring the projects visibility and fostering growth.
The future of decentralized finance is unfolding before our eyes. With Chainlinks partnership with SWIFT, the dominance of Ethereum in DeFi, and the captivating allure of Caged Beasts, we are witnessing the transformative power of blockchain technology in the financial industry.
As DeFi continues to evolve and disrupt traditional finance, these entities are poised to play significant roles in shaping the landscape of decentralized finance. Embrace the possibilities, explore the potential, and prepare for a future where financial freedom is within reach.
Ready to embark on this thrilling journey with Caged Beasts? Register your email on their website, https://cagedbeasts.com/, and be part of a narrative that intertwines imagination with the potential for financial success.
For more information on Caged Beasts (BEASTS):
Website: https://cagedbeasts.com
Telegram: https://t.me/CAGEDBEASTS
Twitter: https://twitter.com/CAGED_BEASTS
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Chainlink & Ethereum: Powering DeFi's Future With Caged Beasts - Blockchain Reporter
Litecoin adoption outdoes Ethereum; LTC reacts by – AMBCrypto News
Litecoin [LTC] has outperformed Ethereum [ETH] in a key metric, as per Glassnode. Notably, LTCs total addresses reached 200.7 million at press time,while ETHs figure stood at 181 million, which gave the former a lead of over 20 million addresses.
Realistic or not, heres LTCs market cap in BTCs terms
Other metrics also revealed that the blockchains performance was something to rejoice over. For instance, daily active addresses also spiked, reflecting increased usage. Besides that, LTCs velocity was up.
An increase in the metric meant that LTC was used in transactions more often within a set time frame. Moreover, daily on-chain transaction volume in profit also increased last week.
Though the blockchains network activity was on the rise, its price action did not follow the same trend, as it increased marginally last week. According to CoinMarketCap, LTCs price has risen by over 1% in the last seven days.
At press time, it was trading at $77.43, with a market capitalization of over $5.6 billion.
However, LTCs whale activity remained high, as per Santiments chart. Sentiment around LTC also improved last week, as evident from its weighted sentiment and social volume.
Interestingly, Coinglass data revealed that LTCs sideways trajectory might soon change. Litecoins Open Interest has registered a decline since the beginning of June.
A decline in that metric usually means that the ongoing price trend may end soon. Therefore, the possibility of LTC registering gains seemed likely.
How much are 1,10,100 LTCs worth today?
LTCs daily chart pointed out quite a few bullish market indicators, suggesting a price hike in the coming days. For instance, LTCs MACD displayed the possibility of a bullish crossover. Litecoins Relative Strength Index (RSI) also registered an uptick.
Its Money Flow Index (MFI) also followed the same trend, increasing the chances of a northbound price movement in the coming days.
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Litecoin adoption outdoes Ethereum; LTC reacts by - AMBCrypto News
Ethereum Blockchain Explorer Etherscan Unveils ChatGPT … – Cryptonews
Source: Pixabay
Artificial intelligence continues to demonstrate its value within the blockchain ecosystem. Etherscan, a prominent Ethereum blockchain explorer, has introduced AI integration in its recently launched Code Reader beta version.
In a statement on June 19, Etherscan announced that the Code Reader would utilize the OpenAI API to fetch and interpret source codes of smart contracts.
The beta version of the code reader harnesses the power of AI to effortlessly understand and analyze various smart contract source codes, offering users a comprehensive learning experience.
Blockchain explorers are online search engines that enable users to view transactions and other information on blockchain networks.
Some well-known blockchain explorers include SolScan for the Solana blockchain, Etherscan for Ethereum, Blockchain.com for Bitcoin, and BlockScout for EVM-based blockchains.
In its announcement, Etherscan noted that its newly unveiled Code Reader could accelerate Smart contract research and development.
It gives users a comprehensive understanding of how to integrate selected smart contracts with decentralized applications (dApps)
Besides the advantages of this new integration, Etherscan also highlighted its limitations.
According to the blockchain explorer, the code reader only accepts OpenAI API Keys with sufficient usage limits. It warned that the answers may not be precisely accurate since they are AI-generated.
The blockchain explorer added a disclaimer, warning users to fact-check and verify the AI-generated responses and not to rely on them for evidence or bug bounties.
This aligns with the issues associated with AI chatbot hallucinations.
Hallucination relates to AI chatbots' tendency to generate false information not backed by real-world data when responding to prompts.
Etherscan called for suggestions from users on possible adjustments or improvements.
This is very much a Beta releaseplease let us know what youd like us to add or improve, Etherscan added.
Etherscan isnt the first blockchain-based platform to integrate AI tools.
On June 14, Alchemy, a leading blockchain developer, launched a ChatGPT-based tool dubbed AlchemyAI. AlchemyAI comprises a GPT-4 plugin for blockchain exploration.
Alchemys product manager, Elan Halpern, said in an interview that the firm's objective in launching the plugin is to cater to and train a model using a web3 development-specific ChatGPT.
Also, on April 25, Solana Labs announced the launch of an open-source ChatGPT plugin. Solana Labs said the plugin would allow users to perform various tasks via the ChatGPT user interface.
The ChatGPT plugin offers users the convenience of checking wallet balances, transferring tokens, and purchasing NFTs on the Solana blockchain.
The introduction of this tool by Etherscan aims to streamline user navigation within the ecosystem. It is important to note that Etherscan's AI-powered Code Reader operates in a distinct manner compared to ChatGPT plugins.
While ChatGPT plugins are integrated on the chatbot's website, the Code Reader operates directly on the Etherscan platform using an OpenAI API Key.
It is worth mentioning that utilizing the Code Reader incurs an additional cost separate from a ChatGPT Plus subscription.
Other GPT-4 plugins utilized for blockchain analysis include Sic, DefiLlama, and CheckTheChain.
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Ethereum Blockchain Explorer Etherscan Unveils ChatGPT ... - Cryptonews
Why Ethereums price rise is not cause for celebration yet – AMBCrypto News
The Binance and Coinbase episode with the US Securities Exchange Commission caused havoc in the crypto industry. It caused a decline in the supply of Bitcoin [BTC] and Ethereum [ETH] on Binance, suggesting that investors were losing confidence in CEXes.
Read Ethereums [ETH] Price Prediction 2023-24
Glassnodes latest tweet revealed that after the SEC incident, investors actively withdrew their ETH and BTC from Binance. As per the tweet, Ethereums balance on Binance was around 4.56 million to 4.2 million.
This indicated that they were losing faith in the CEX. In order to keep their holdings safe, investors were moving their assets to self-custody, or DEXes. This was evident from Dunes data.
After a decline, ETHs volume on DEXes registered an uptick, as per the chart ETHs DEX volume has increased on multiple projects such as Curve [CRV], Uniswap [UNI], and more since 11 June.
It was interesting to see that ETH generated the highest revenue in Q1, driven by its high usage and gas fees. According to Messaris recent tweet, Ethereums revenue was $457 million, almost 2.8 times the combined revenue of all other featured L1s.
However, things changed in the second quarter of this year. Token Terminals data revealed that ETHs revenue had declined. After spiking on 5 May 2023, Ethereums revenue plummeted sharply, which was not good for the blockchain.
Though ETHs revenue declined, the tokens price moved the other way. According to CoinMarketCap, ETHs price has increased by nearly 2% in the last 24 hours. At the time of writing, it was trading at $1,665.31, with a market capitalization of over $200 billion.
As per CryptoQuant, Ethereums Relative Strength Index (RSI) was in an oversold position. This might have increased buying pressure and pushed up the tokens price. Ethereums exchange reserve was also green, suggesting that the token was not under selling pressure.
Is your portfolio green? Check the Ethereum Profit Calculator
A look at ETHs daily chart suggested that the uptrend might continue as the market indicators looked bearish. The MACD displayed a bullish upperhand in the market.
Ethereums Chaikin Money Flow (CMF) also registered a downtick. Additionally, its Exponential Moving Average (EMA) Ribbon also pointed out that the bears were leading the market, as the 20-day EMA was below the 55-day EMA.
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Why Ethereums price rise is not cause for celebration yet - AMBCrypto News
If You Bought Your Dad $100 In Bitcoin, Dogecoin And Ethereum Last Father’s Day, Here’s How Much He’d Hav – Benzinga
June 18, 2023 8:51 AM | 1 min read
If youre struggling with what to get your dad for Fathers Day, a gift of cryptocurrency is an option. Heres a look at whether a gift of crypto on Fathers Day last year would have been a good investment.
What Happened: Fathers Day is celebrated on the third Sunday in June. The holiday was inspired by Mothers Day, which got its start years earlier.
Fathers Day was first celebrated in 1910but didnt become an official holiday until 1966. The holiday was recognized by President Woodrow Wilson in 1916. President Calvin Coolidge also encouraged states to observe the holiday in 1924.
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In 1966, President Lyndon B. Johnson made Fathers Day an official holiday.
Last year, Fathers Day was celebrated on June 19, 2022. Heres a look at how a $100investment in each of thethree leading cryptocurrencies at that time would be worth now.
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Related Link: How To Buy Cryptocurrencies
Investing $100 Each IntoBitcoin, Dogecoin, Ethereum: Heres how much Bitcoin (CRYPTO: BTC), Dogecoin (CRYPTO: DOGE) and Ethereum (CRYPTO: ETH)could have been bought at theirhighs on June 19, 2022.
Bitcoin: 0.0048
Dogecoin: 1,600.72
Ethereum: 0.0875
Investing $100 in each cryptocurrency last Fathers Day would be worth the following based on prices at the time of writing:
Bitcoin: $127.21, +27.2%
Dogecoin: $99.56, Flat
Ethereum: $151.21, +51.2%
A $300 gift consisting of the top three cryptocurrencies would be worth $377.98 today, an increase of 26.0%.
While the cryptocurrency market has been extremely volatile in recent years, investments in three of the most well-known cryptocurrencies would have generated a positive return sincelast Fathers Day.
Read Next: Celebrate Father's Day With The Latest Cannabis Products, Extracts, Vapes, Beverages & More
Photo: Shutterstock
2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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Bitcoin and Ethereum Dominance Surge as Altcoin Struggle: Crypto Market Analysis – Coinpedia Fintech News
The global cryptocurrency market has seen remarkable shift in recent times as Bitcoin (BTC) and Ethereum (ETH) dominance surges, leaving many Altcoins struggling to maintain their value.
As BTC and ETH strengthen their market position, Altcoins face a challenging environment, with Stablecoins benefiting from the ongoing trend.
This analysis examines the current crypto market landscape, highlighting the dominance of BTC and ETH and the struggles faced by Altcoins.
Read on for more exciting details!
Bitcoin, the leading cryptocurrency, has seen a surge in dominance, capturing 46.81% of the total crypto market capitalization, equivalent to $523 billion. This substantial market share demonstrates BTCs resilience and continued appeal to investors.
Ethereum, the second largest cryptocurrency, has also experienced a significant boost, with a market cap of $208.14 billion, solidifying its position as a dominant force in the market.
These developments indicate the continued trust and confidence in both BTC and ETH, driving their upward trajectory.
Also Read: BTC Price: Arthur Hayes Reveals Timeline for Bitcoins Next Rally
While BTC and ETH soar, Altcoins face substantial losses, struggling to maintain their value and market capitalization.
Cardano (ADA) and Chainlink (LINK) are among the altcoins that have witnessed negative price movements. ADA currently holds a market cap of $9.12 billion, while LINKs market cap stands at $2.64 billion. These figures reflect the challenges faced by many Altcoins in the current market climate, with investors flocking towards BTC and ETH as more secure investment options.
Stablecoins, designed to maintain a stable value often pegged to fiat currencies, have seen increased market share lately. Collectively, stablecoins hold a market cap of $130 billion, representing an 11.6% share of the total cryptocurrency market cap. Notable stablecoins such as Tether (USDT), USD Coin (USDC), and others have gained traction as investors seek a more reliable store of value amidst market volatility.
Notably, a popular tweet posted by DonAlt backs the aforesaid observation, with the assistance of data and analysis, about the growing influence of Stablecoins.
Bitcoin, with a current price of $26,594.42 per BTC, has experienced a slight decline of -0.19% in the last 24 hours. Ethereum, on the other hand, displays a positive trend, with a 24-hour increase of +0.48% and a price of $1,734.57 per ETH. Stablecoins like Tether and USD Coin maintain stability, with Tether exhibiting no change and USD Coin showing a slight increase of +0.03% in the past 24 hours. Meanwhile, Altcoins, Cardano, and Chainlink, face challenges, with ADA showing a -2.84% price decrease and Link experiencing a -1.46% decline.
In short, while BTC and ETH continue to solidify their position, Altcoins struggle to keep up, facing significant losses. Stablecoins, on the other hand, have gained market share, presenting an alternative for investors seeking stability.
For more such interesting crypto news articles, staytuned to Coinpedia!
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