Category Archives: Ethereum
Ethereum: MetaMask wallet among top stakers – The Cryptonomist
After the Shapella update on 12 April, the MetaMask wallet has become one of the main interfaces used by Ethereum users to put their ETH in staking.
There has even been a single MetaMask wallet address that was discovered to have staked as many as 62,240 ETH in a single day, worth more than $110 million.
The reason for this boom is simple: thanks to the Shapella update it is now also possible to withdraw ETH put into staking, whereas before they were not withdrawable.
So before Shapella, anyone who wanted to put ETH in staking had to accept the idea that they could no longer withdraw them indefinitely, but after Shapella this limitation simply disappeared. Now anyone who puts ETH in staking can request its withdrawal at any time.
The unlocking of staked ETH led to fears that withdrawals would be many, and that much of the ETH withdrawn might end up being put up for sale causing the price to fall.
This happened only minimally, as according to data from beaconcha.in there have since been only five days of sustained withdrawals, with a peak of 392,000 ETH withdrawn on 15 April. Since the total amount of staked ETH was over 18 million, the volume of withdrawals turned out to be very small, percentage-wise.
Moreover, deposits have increased specifically since 13 April, because now that ETH staked can be withdrawn, one of the main limits to this kind of use of ETH is gone.
It is worth mentioning, however, that the post-Shapella day with the largest deposits of ETH staked, 24 April, saw a total of 126,000 ETH staked, which is less than one-third of the record number of withdrawals on 15 April.
Indeed, overall, the total amount of ETH staked was reduced from over 18 million to just over 17.9 million, or a very small percentage ending balance.
It is worth noting that almost half of those 126,000 ETH staked on 24 April were ETH from the single MetaMask wallet mentioned above.
Note that Metamask does not have its own node on which it allows staking.
ETH staking is in fact done by depositing tokens on a validator node, but Metamask is a wallet and not a node manager.
This wallet enables ETH staking using external service providers, including the worlds largest Ethereum staking pool, namely Lido.
Right now more than 23.5% of all ETH staking is on Lido, followed in second place by Coinbase with less than 10%. So Lido is not only the largest Ethereum staking pool in the world, but it even has more than twice as many ETHs in staking as the second.
In third place is Binance with 3.8%, and in fourth place is Kraken with 3.6%.
Also worth noting is that over 40% of the ETHs staked do not appear to have been deposited on a staking pool, but were probably staked directly on user-owned nodes.
Metamask does not appear in this ranking, simply because it is not a staking pool, but only an interface that allows the use of staking pools such as Lido.
It is worth adding that a few days ago Metamask published a post on its official blog informing users how they can proceed with the withdrawal of ETH placed in staking.
Since Shapella, the price of Ethereum has experienced two significant declines.
The first on 19 April, and the second on 21 April. However, between yesterday and today, the price went up a bit.
It is worth noting that precisely on 19 and 20 April, after three days of reduced withdrawals, the ETH withdrawn from staking had begun to rise again.
On the 21st the withdrawals actually stopped, and the price stopped falling. The 24th was another day of sustained withdrawals, but the price of ETH fell only slightly.
On the 25th the withdrawals almost stopped, and the price of ETH rebounded. Moreover, on 25 April there was also a sharp increase in ETH staking deposits. Against 31,000 ETH withdrawn there were 126,000 ETH deposited.
So at this stage the balance between ETH put into staking and ETH withdrawn from staking does indeed seem to be influencing the price.
Perhaps it is not a direct influence, but mediated by the sentiment of speculators who observe that data to work out their buying or selling strategies.
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Ethereum: MetaMask wallet among top stakers - The Cryptonomist
Bitcoin (BTC) and Ethereum (ETH) sink while RenQ Finance (RENO) Remains Popular among Whales | Bitcoinist.com – Bitcoinist
Bitcoin (BTC) and Ethereum have dominated the cryptocurrency market for a long time, but the state seems to have changed recently. With the rise of alternative coins, the market has become more competitive, and investors are looking for better investment opportunities. In this context, RenQ Finance (RENQ) has emerged as a popular choice among investors, particularly the whales.
One of the main challenges of Bitcoin (BTC) is regulation. Bitcoin (BTC)s network operates decentralized and permissionless, making it challenging to comply with laws and regulations in different jurisdictions. This exposes Bitcoin (BTC) to legal risks and challenges, such as bans, restrictions, taxes, and lawsuits.
Another challenge of Bitcoin (BTC) is scalability. Bitcoin (BTC)s network can only process about seven transactions per second, which is far from enough to meet the growing demand from users and traders. This leads to high fees, congestion, and delays, deterring potential adopters and investors.
A third challenge of Bitcoin (BTC) is competition. Bitcoin (BTC) faces fierce competition from other cryptocurrencies offering similar or better features. These include Ethereum, Binance Coin, Cardano, Solana, Polkadot, and more. These cryptocurrencies claim to have faster, cheaper, and more scalable networks than Bitcoin (BTC).
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Ethereum (ETH) is another cryptocurrency struggling to maintain its value recently. The market value of Ethereum (ETH) has been on a steady decline, and it has been unable to recover from the fall.
One of the main struggles of Ethereum (ETH) is scalability. Ethereums network can only process about 15 transactions per second, which is far from enough to meet the growing demand from users and developers. This leads to high fees, congestion, and delays, deterring potential adopters and investors. To solve this problem, Ethereum (ETH) is undergoing a significant upgrade called Ethereum 2.0, which will transition the network from a proof-of-work (PoW) consensus mechanism to a proof-of-stake (PoS) one and introduce sharding and rollups to increase throughput and efficiency.
Another struggle of Ethereum is competition. Ethereum (ETH) faces fierce competition from other blockchain platforms offering similar or better features, such as Binance Smart Chain, Solana, Cardano, Polkadot, and Avalanche. These platforms claim to have faster, cheaper, and more scalable networks than Ethereum (ETH), attracting many developers and users looking for alternatives.
Ethereum (ETH) struggles have led investors to look for other investment opportunities, and RenQ Finance (RENO) is the preferred choice for many.
RenQ Finance (RENO) is a relatively new cryptocurrency, but it has gained significant popularity among investors, particularly whales. According to recent reports, large-scale investors have shown much interest in RenQ Finance (RENO), believing it has excellent potential for long-term growth. The whales seem to have shifted their focus from the traditional giants like Bitcoin (BTC) and Ethereum to this new and promising cryptocurrency.
RenQ Finance (RENO) has a robust community and development team focused on offering new solutions to typical DeFi challenges, such as high transaction fees, slow transaction times, and restricted interoperability. Since its inception, RenQ Finance (RENO) has witnessed substantial development and continues to draw investors and users interested in the possibilities of DeFi and sophisticated AI technologies.
RenQ Finance (RENO) allows users to exchange cryptocurrencies without the need of third-party involvement. It allows users to swap cryptocurrencies without depending on centralized exchanges in a trustless, safe, and transparent manner.
RenQ Finance (RENO) has emerged as a safe and reliable investment option for many investors as a blockchain platform that offers users advanced decentralized finance (DeFi) solutions. RenQ Finance (RENO) is built on the Ethereum network and offers various DeFi services like staking, lending, and borrowing. The platform is designed to be user-friendly, and it is easy to use for both new and experienced investors.
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Disclaimer:This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of Bitcoinist. Bitcoinist does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.
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Bitcoin’s Six-Week Hot Streak Ends as Institutions Turn to Ethereum – Decrypt
Bitcoin outflows hit $53.1 million last weekmeaning that, for the first time in six weeks, more funds flowed out of digital asset investment products than in.
Profit-taking is largely to blame, especially considering there were few macroeconomic triggers that could influence BTC's price, says a new report from digital asset investment firm CoinShares.
And that would suggest that meaningfully staying above the psychologically significant threshold of $30,000 could be a tough nut to crack for bulls. As of Monday morning, Bitcoin was sliding towards $27,000 and down 9% from the last week, according to CoinGecko.
Overall, digital asset investment products saw total outflows of $30 million in the seven days through April 21with CoinShares XBT, ProShares, and 3iQ the hardest-hit providers. The providers all manage exchange-traded products pegged to cryptocurrencies, an indirect way for institutional investors to get exposure to crypto markets without actually holding it.
But the devil's in the details. According to CoinShares head of research James Butterfill, there's one cryptocurrency that's bucking the trend in a big way.
Basking in the glow of the successful "Shapella" upgrade, Ethereum actually enjoyed inflows of $17 million last weekputting it far ahead of major altcoins, like Solana, Cardano, XRP, and Litecoin, which were mostly flat.
This indicates investors are feeling confident now that validators on Ethereum's proof-of-stakenetwork can withdraw staked ETH if they so wish.
Butterfill also revealed that inflows into ETH-based funds came solely from Europe, which is fresh from approving much-welcomed, landmark legislation on cryptocurrencies.
All of this comes as regulatory uncertainty in the U.S. casts a long shadow over American crypto firmswith the SEC's crackdown potentially prompting investors to sit on the sidelines.
There was also a clear continental divide when it came to Bitcoin.
"Regionally, the profit-taking was almost solely from North America, which saw outflows totaling $54 million," Butterfill wrote. "This was offset by the continued optimistic sentiment in Germany which saw inflows totalling $29 million."
That optimism in Germany has undoubtedly been driven by the country's friendly tax regime, which states that cryptocurrency offloaded after 12 months isn't subject to capital gains.
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Bitcoin's Six-Week Hot Streak Ends as Institutions Turn to Ethereum - Decrypt
Bitcoin Price & Ethereum Prediction: BTC and ETH Up Nearly 4 … – Cryptonews
Bitcoin (BTC), the most popular cryptocurrency in the world, has recently halted its downward trend and gained momentum by surpassing the $28,000 mark. BTC surged by more than 4% and is currently trading at $28,438.
In the meantime, the prices of various alternative cryptocurrencies, such as Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Solana (SOL), and Litecoin (LTC), have seen a positive trend in their values, and their prices have increased, which is a good sign for investors who hold these cryptocurrencies.
However, the reason behind this upward rally is not clear, but it can be linked to the increasing support for decentralized finance, especially after the recent banking crisis. Hence, the upward surge of BTC has had a positive impact on the entire cryptocurrency market, with other digital assets like ETH also showing a similar upward trajectory.
Furthermore, the Q1 earnings reports of two major companies, Alphabet (the parent company of Google) and Microsoft, were relatively positive, resulting in a positive response from investors. This was seen as one of the contributing factors to the slight increase in the price of Bitcoin (BTC).
Apple has quietly removed the Bitcoin white paper from the latest beta version of its operating system upgrade. The white paper had been shipped with every copy of MacOS for the past five years, and it was found within Virtual Scanner II in macOS.
However, the removal has caused speculation in the crypto community about the reasons behind it, with some suggesting that Apple's move could have negative implications for Bitcoin's price. However, it is unclear whether this will have a significant impact on the cryptocurrency market.
It is worth noting that the development comes as a California court has ruled that Apple violated state competition laws by preventing developers from using alternative in-app payment methods, potentially creating more opportunities for the use of cryptocurrencies.
Bitcoin has bounced back from recent selling pressure and is up more than 3%. However, the recovery comes amid concerns over the collapse of First Republic Bank, which is working on unloading between $50 billion and $100 billion in debt instruments as part of its "strategic options".
As we know, Bitcoin showed strong performance during the US banking crisis, and the recent surge in BTC price suggests that crypto is breaking free from its correlation with traditional market forces.
Additionally, on-chain data provider Santiment reports that Bitcoin's social dominance remains relatively high, indicating a potential quick rebound in prices. This was seen as another key factor that could boost BTC prices.
The current Bitcoin price is $28,425, and the 24-hour trading volume is $18,8 billionD. Bitcoin has increased by over 4% in the previous 24 hours. Bitcoin's price outlook has turned positive, breaking free from a sideways trading range and forming a bullish pattern. Immediate support is likely around 28,200, with the overall trend remaining bullish.
A suggested strategy is to consider a long position above 28,200, targeting 28,700 or 29,350, while setting a stop loss below 28,000.
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Ethereum, the second-largest cryptocurrency, is experiencing a downward trend after surpassing the $1,950 mark. If Ethereum manages to close above $1,950, it may ignite an upward movement with the possibility of reaching $2,050 or even $2,120.
Nevertheless, if Ethereum is unable to close above the $1,925 level, its price might decline to $1,925.
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Stay up-to-date with the newest ICO projects and altcoins by regularly checking the expert-curated list of the top 15 most promising cryptocurrencies to watch in 2023, as suggested by industry experts at Industry Talk and Cryptonews.
Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.
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Bitcoin Price & Ethereum Prediction: BTC and ETH Up Nearly 4 ... - Cryptonews
Ethereum: Majority of ETH Withdrawals Controlled by Two Entities – U.Today
Tomiwabold Olajide
Over three-quarters of Ethereum (ETH) withdrawals linked to just two entities
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On-chain analytics firm Nansen provides an analysis of ETH principal withdrawals and the entities behind the move.
It should be recalled that the Shapella upgrade, which enables withdrawals from the ETH beacon chain, was triggered on April 12.
According to Nansen, Kraken and Coinbase account for the majority (78.3%) of the principal withdrawals at 870,688 ETH.
It reports that the third round of principal withdrawals happened within the last 24 hours, and there was also a substantial amount of deposits that kept the total ETH locked at a higher low than the previous wave. It gives the current figure of total ETH locked as 18,629,009 ETH.
Per the information Nansen sharedon April 24, 894,671 ETH are waiting for full exit, which is about 4.7% of the total ETH on the Beacon chain, inclusive of reward. A total of 27,809 validators are waiting for a full exit.
Meanwhile, the total ETH locked hit a new all-time high since the Shapella upgrades on April 24 at 18,879,775 ETH locked. The total ETH locked in this context refers to all ETH that "is out of circulation," which includes ETH staked on the Beacon chain, ETH deposited to the Beacon contract but not validated yet and rewards on the Beacon contract.
In similar news, Binance recently announced it was rebranding ETH 2.0 Staking to ETH Staking and introducing Wrapped Beacon ETH (WBETH) on the ETH Staking service, effective April 27. WBETH is a new liquid staking token, where 1 WBETH represents 1 BETH and the total staking rewards accrued by the BETH token on ETH Staking.
According to CoinShares, digital asset investment products saw outflows totaling $30 million last week, ending a six-week run of inflows.
Ethereum, on the other hand, saw inflows totaling $17 million last week, suggesting there is increasing confidence among investors following the implementation of the Shapella upgrade.
After crossing back under $2K last week, Ethereum's network saw its fees explode to their highest level since May 2022. Though still relatively high, fees have been discounted by 35% since, on-chain analytics firm Santiment reported.
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Ethereum: Majority of ETH Withdrawals Controlled by Two Entities - U.Today
This Week in Coins: Market Slumps as Bitcoin and Ethereum Drop Over 10% – Decrypt
This week in coins. Illustration by Mitchell Preffer for Decrypt.
There was a limit to cryptos growth this week as the market is still pricing the effects of another possible interest rate hike from the Fed. These indications led to a strengthened dollar, but halted the crypto rally of the previous week, which was spurred on when Ethereums Shapella upgrade went live.
This weeks news was a veritable feast of regulation stories in both the United States and the European Union, with the drama in Washington centered on the SECs ongoing crackdown on crypto businesses1,500 to date in fact, according to a tweet on Monday by chair Gary Gensler, who is commemorating his second year as the top U.S. securities regulator.
Bitcoin and Ethereum both fell this week. Bitcoin held its head occasionally above the $30K mark but ultimately began to fall on Wednesday, spiraling down to its current level of $27,340, a 10.3% drop from last week.
Ethereum had a similar trajectory and occasionally kept its head above $2,100 till midweek, before sinking to $1,851, a seven day loss of 11.7%.
Many of the top thirty cryptocurrencies by market cap posted losses of a little over 10%, including XRP, which is worth $0.456866, Cardano (ADA) trades for $0.392358, Dogecoin (DOGE) is $0.079389, Polygon (MATIC) is $1.01, Solana (SOL) changes hands at $21.45, Polkadot (DOT) trades at $5.91, Litecoin (LTC) is $86.36, Avalanche (AVAX) is $17.16, Uniswap (UNI) trades for $5.48, Cosmos HUB (ATOM) is $10.91, and Stellar (XLM) sits at $0.093942 at the time of writing.
The U.S. Securities and Exchange Commissions (SEC) crackdown on crypto businesses led headlines on Monday when the agency sued yet another big crypto business for alleged failure to comply with securities laws, Seattle-based exchange Bittrex.
In its lawsuit, the SEC named six cryptocurrencies that Bittrex was allegedly offering as unregistered securities: OMG Network (OMG), Dash (DASH), Monolith (TKN), Naga (NGC), Real Estate Protocol (IHT), and Algorand (ALGO).
The drama continued apace on crypto Twitter where a clip of Gensler praising Algorand made the rounds. Its from a 2019 talk Gensler gave at the MIT Sloan Idea Exchange, a conference hosted by the school when Gensler was a professor in global economics and management there.
Several Republican lawmakers reacted to the SECs regulation-by-enforcement strategy by submitting a letter of condemnation to the House Financial Services Committee on Tuesday. At the hearing, Rep. Tom Emmer grilled Gensler and said, Youve been an incompetent cop on the beat, before claiming the SEC chair was pushing American firms into the hands of the CCP (Chinese Communist Party).
On Wednesday, the Committee turned its attention to stablecoins. Republicans and Democrats clashed over a proposed bill, currently called the To be added Act of 2023. Democrat Maxine Waters said that she had never finished negotiations with Republican Patrick McHenry and that lawmakers are now starting from scratch. Democrat Stephen Lynch also criticized some of the proposed legislation.
Good news came from Texass legislature on Friday. The Texas House of Representatives approved a bill requiring local crypto exchanges to maintain reserves sufficient to fulfill all obligations to customers.
The European Union was ultimately where the most progress was made with crypto legislation this week. The European Parliament passed the Markets in Crypto Assets (MiCA) bill with 517 votes in favor and 38 against, with 18 abstentions, at a meeting in Strasbourg on Thursday.
The legislation means the blocs 27 member states will now take a unified approach to crypto. Companies have a year and a half to familiarize themselves with the rules. The stablecoin legislation wont come into effect until July 2024 and the rest of the legislation wont be implemented until January 25.
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This Week in Coins: Market Slumps as Bitcoin and Ethereum Drop Over 10% - Decrypt
Ethereum (ETH) And Litecoin (LTC) Prepare For Upgrades … – The Crypto Basic
Ethereum (ETH) is getting set for its next big upgrade after the September Merge, with the coming Shanghai upgrade. Litecoin (LTC) is another project heading for a blockchain upgrade with another halving event. The Merge failed to spur the price of Ethereum (ETH) and the market trend will determine the path of Litecoin (LTC). Analysts currently prefer the outlook for Uwerx which has niche crypto potential and is expected to see its price soar in the year ahead.
Ethereum (ETH) was the big focus of the crypto market in August and September last year after the project announced a long-awaited move to Proof-of-Work mining. The move made the project 99.9% more energy efficient but developers said late on that it would not solve the issues with gas fees and transaction speeds. The Merge happened around 15 September, but the price failed to push higher after the FTX collapse.
Ethereum (ETH) currently has $28 around billion in Total Value Locked on the chain but that is down from $100 billion at the peak. Ethereum (ETH) has also suffered a big drop in NFT sales over the last year. The next upgrade for Ethereum (ETH) will be the Shanghai hard fork, which is set to release staked tokens and remain locked following the September upgrade. There is a risk that some of those tokens could be sold and weigh on the price.
Litecoin (LTC) is awaiting another halving event later in the year, with the third of its kind happening on August 3. A crypto halving is when mining fees are cut in half for newly minted coins. The halving also cuts the supply in half and is designed to reduce inflationary effects on the token. The market assumption is that these events are bullish, but Litecoin (LTC) has not been able to hold onto previous gains.
Recent analysis for Litecoin (LTC) has also hinted at some potential selling in the coin. Data provider Santiment has warned investors that Litecoins (LTC) price may drop due to an increase in selling activity among larger investors. According to the report, the recent coin distribution for Litecoin (LTC) was seen as a profit-taking move, and investors are probably using the rally to sell out of the project on the recent market gains. Litecoins (LTC) plan to be a mass-adopted payments token has not materialized and investors should forget about big gains in Litecoin (LTC) in 2023.
Uwerx is a new project that is looking to bring a real-world marketplace to the blockchain. Freelance working is becoming more important to the economy and Uwerx will add benefits for employers and workers. The project will begin life as the only blockchain platform and can see first-mover benefits that will put a rocket under its token price.
Uwerx is currently in a token presale and is still under the radar of many investors but that can change in 2023 with marketing efforts and exchange listings.
Uwerx successfully passed an audit with InterFi Network and SolidProof and investors can be sure that it is a safe project, with a 25-year lock-up period on development funds after the presale ends, adding further confidence.
Uwerx has impressed analysts and some are expecting the coin to rocket from the presale price of $0.0075 to $2.80 by Q1 2024. Investors are currently enjoying an additional presale bonus of 25%
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Ethereum (ETH) And Litecoin (LTC) Prepare For Upgrades ... - The Crypto Basic
Ethereum up 20% in April while Markets Pro sees 379% gain in one day – Cointelegraph
Cointelegraph Markets Pro stunned traders on April 8 with a massive 379% gain from a single alert. The AI-powered crypto trading platform detects market-moving events as they happen. One of the indicators pointing to these events is the VORTECS Score.
On April 7, OG Fan Token (OG) was getting ready for a remarkable rally. OG Fan Token is a cryptocurrency created for esports clubs to interact easier with their fans. In partnership with the blockchain mobile application Socios.com, the OG esports club powered by the Chiliz (CHZ) token aims to enhance the sporting experience. OGs rally this week was followed by an interest spike in fan tokens likeManchester City Fan Token (CITY) andFC Barcelona Fan Token (BAR).
The token was trading at $2.90 when its VORTECS Score a historical snapshot comparison between current and past market conditions for individual coins rose above 75. Over the next 24 hours, OGs price skyrocketed to $13.90. Thats a remarkable jump of 379%!
Five days later, traders could have captured additional gains as OG took off again. On April 13, a VORTECS Score of 80 lit up. Over the next 24 hours, the token saw a rapid rise of 40%.
Anyone with access to Markets Pro had a chance to capture these gains, which stand in stark contrast to Ethers (ETH) performance so far in April. Ethereum had the historic Shanghai Capella upgrade, allowing token withdrawals to be made from the deposit contract.
The upgrade effectively unlocked $36.4 billion in staked ETH and drove the coins price from $1,775 at the start of April to as high as $2,132 a lackluster gain of just over 20%.
Cointelegraph Markets Pro, on the other hand, delivered multiple alerts that led to significant gains in the underlying tokens associated with those alerts. A summary of these results is provided in the weekly VORTECS Report. Since March 26, a number of winning trade opportunities have stood out.
RPL was one of many high VORTECS assets this week! On April 13, a strong score of 80 was flashing when the asset was trading at $42.18. The price soon began a sharp ascent, peaking at $60.97 on April 17! Thats an increase of 45%!
A green score of 75 also briefly flashed on April 15 when RPL was trading at $52.53. Traders who bought this price point couldve seen a 16% gain in just two days!
RPL is the utility and governance token of Rocket Pool, a liquid staking protocol on Ethereum. The project is the first Ethereum staking pool that is fully decentralized.
SXP appeared on the Tweet, Trade, and Most Active On-Chain 24hr charts from March 2831. At the time of its appearance on March 28, it was trading at $0.29, and on April 3, it peaked at $0.764. Thats a whopping increase of 163%!
SXP is the native token of Swipe, a cryptocurrency wallet ecosystem that allows easy exchanges of fiat money on different transactions and trading platforms.
ICX topped the Trading Volume chart on April 2 when it was trading at $0.282. Just three days later, its price rose to $0.464, an impressive increase of 76%!
ICX is the native token of Icon, a blockchain network that aims to create a digital economy in which the Icon Network hosts other blockchain-based networks.
Cointelegraph Markets Pro delivered more than 204 alerts that led to double-digit gains in 2022. That is an average of four winning alerts per week and 17 winning alerts per month. This year, the crypto trading platform continues to alert members to these kinds of potential winning trades regardless of market conditions.
With new upgrades to the platform, Markets Pro 2.0 now includes not only the legacy AI indicators, such as the VORTECS Score and NewsQuakes alerts, but also a diversified range of new indicators including Top Exchange Inflows, Top Exchange Outflows, and Most Active On-Chain.
The additional indicators offer members of the Markets Pro community an opportunity to find more trading opportunities than ever before.
See how Cointelegraph Markets Pro delivers market-moving data before this information becomes public knowledge.
Cointelegraph is a publisher of financial information, not an investment adviser. We do not provide personalized or individualized investment advice. Cryptocurrencies are volatile investments and carry significant risk including the risk of permanent and total loss. Past performance is not indicative of future results. Figures and charts are correct at the time of writing or as otherwise specified. Live-tested strategies are not recommendations. Consult your financial adviser before making financial decisions.
All ROIs quoted are accurate as of April 24, 2023.
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Ethereum up 20% in April while Markets Pro sees 379% gain in one day - Cointelegraph
Former Ethereum miner CoreWeave raises $221M in Series B – Cointelegraph
On April 20, specialized cloud provider CoreWeave announced that it had secured $221 million in a Series B funding round, putting the company on track to expand operations and increase capacity in various emerging technologies.
The raise was led by Magnetar Capital with contributions from NVIDIA and rounded out by Nat Friedman and Daniel Gross. In November 2021, CoreWeave secured a $50 million investment from Magnetar Capital.
According to CoreWeave, the money will be used to expand its cloud infrastructure for computational workloads such as artificial intelligence, machine learning, visual effects, rendering, batch processing and pixel streaming. The firms CEO and co-founder, Michael Intrato, said NVIDIAs support would help the company continue to scale.
Founded in 2017, CoreWeave uses cloud technology to scale graphics processing unit (GPU) computational resources that the company claims are 35 times faster and 80% less expensive than competitor solutions. The firm started as an Ethereum miner, utilizing GPUs to verify transactions on the former proof-of-work blockchain.
In September 2022, Ethereum completed its much-anticipated Merge upgrade, transitioning the network into proof-of-stake from the previous proof-of-work protocol. The move rendered the practice of Ethereum mining and, subsequently, Ethereum mining GPUs obsolete. That said, CoreWeave ceased its Ethereum mining operations long before the Merge was completed.
Magazine: Heres how Ethereums ZK-rollups can become interoperable
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Former Ethereum miner CoreWeave raises $221M in Series B - Cointelegraph
Hong Kong Welcomes Chinese Banks, As Bitcoin Dips; Ethereum … – Analytics Insight
Hong Kongs push to become a crypto hub has opened up new opportunities for Chinese state-affiliated banks and crypto companies despite a blanket ban on crypto-related activities in mainland China. Meanwhile, the Big Both of crypto, Bitcoin and Ethereum are facing their own changes after the Shanghai Upgrade. Next in the market, is the brand new Signup token, inching closer to its launch, but not just yet. Read till the end to know more!
Chinese banks have shown interest in building partnerships and onboarding regulated crypto companies in Hong Kong. Since crypto trading has been banned in the mainland since 2021, state-affiliated banks in China have shown interest in building partnerships and onboarding regulated crypto companies in Hong Kong. These banks are looking to leverage the provinces development to tap into the ever-expanding world of cryptocurrency.
After the restriction of a security crackdown and COVID regulations, Hong Kong is emerging as a financial hub for cryptocurrency in China. The Hong Kong government seems to be serious about this development, as confirmed by Xiao Feng, chairman of the exchange HashKey. This exchange itself was visited by 13,000 people on its first day at the recent Hong Kong Web3 Festival.
Much to the dismay of optimistic watchers, Bitcoin (BTC) witnessed a dip below the $30k level: decrease of 1.12% on the $29,996 mark. The coin surged through the week by 5%, peaking at $31,005 on Friday, before fluctuating over the weekend. Meanwhile, after a continued 12% week-long surge post the Shanghai upgrade, Ethereum (ETH) is at the $2101 mark, a 134% increase since the lowest value in June last year.
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With more than 4500 sign-ups already in the Millionaires club, you could also join the exclusive group. Simply provide your email address, and they will alert you when they start on Uniswap. This could be the email that changes your life!
In conclusion, the crypto space seems to be on its way to include the Chinese community of investors as well. SignUpToken.com is leveraging blockchain technology to provide financial safety to users and is positioning itself as the next big crypto in the market. Ethereum and Bitcoin have shown opposite trends after the Shanghai Upgrade, which is a testament to the volatile nature of the market. Investors must sign up now for SignUpToken.com and benefit from its referral system by inviting their friends. With SignUpToken.com, users can be part of the next big thing in crypto.
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Hong Kong Welcomes Chinese Banks, As Bitcoin Dips; Ethereum ... - Analytics Insight