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Ethereum layer 2 Scroll unveils loyalty program to reward early adopters and active users – Crypto Briefing

April 19, 2024 | Author: admin

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Ethereum layer 2 Scroll unveils loyalty program to reward early adopters and active users - Crypto Briefing

Ethereum Poised for $1 Billion Profit in 2024 as DeFi Surges – Crypto Times

April 19, 2024 | Author: admin

Ethereum is well-positioned to achieve $1 billion after netting an income of $365 million in the first quarter of 2024, alongside a year-on-year quarterly revenue growth of 155%. The networks Q1 2024 income represents a nearly 200% increase from the $123 million profit recorded in Q4 2023, according to analyst Michael Nadeaus report from The DeFi Report.

Ethereum fees, charged for user transactions when making a payment, increased 155% compared to Q1 2023 since the figure jumped to $1.17 billion. This is higher than the revenue of the previous quarter, that is 80% more than its figure of $900 million.

Ethereum was introduced to the market in 2015 but gained a profitable year in 2023, yielding $623 million in profits. Nadeau credited the networks becoming more decentralized and having lower Flipping Fees to the change to Proof-of-Stake Validators in September 2022, which greatly reduced the incentive payments to 20% of the original value per block.

Nadeau noted that Bitcoin and Ether tend to be quite correlated, with Bitcoin outperforming early in bull markets as the most recognizable cryptocurrency. In contrast, Ether and altcoins tend to outperform in the later stages of the cycle.

The analyst highlighted the introduction of U.S. spot Bitcoin ETFs, the upcoming Bitcoin halving, and a period of innovation as key drivers for a positive outlook in the next few years. Additionally, Ethereums solid financial results and the boost from industry developments suggest its set to continue its profitable trend in the future.

Also read: Dormant Ethereum Wallet Gains $7M Profit.

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Ethereum Poised for $1 Billion Profit in 2024 as DeFi Surges - Crypto Times

ETH price nears 3-year lows vs. Bitcoin Will an Ethereum ETF stem the tide? – Cointelegraph

April 19, 2024 | Author: admin

The price of Ether (ETH) in Bitcoin (BTC) is nearing a three-year low. However, several key technical indicators are flashing bullish, and some analysts are anticipating potential gains ahead for ETH/BTC.

Ethereum price in USD terms has more than doubled in price since switching to proof-of-stakein September 2022. But the picture is very different when priced in Bitcoin as the ETH/BTC pair is down roughly 33% since the Merge.

More recently, ETH/BTC has continued slumping, losing over 9% in the past month with a drop to 0.048 BTC. The last time the trading pair was this low was in May 2021, according to Tradingview data.

Ether price fell over 11% during the past week to $3,239, pushing the relative strength index (RSI) to 44 on the daily time frame, down from the 85 reached on March 11. This suggests that Ether is no longer in "overbought" territory.

The RSI is a popular momentum indicator used to measure whether an asset is oversold or overbought based on the magnitude of recent price changes.

Traders should keep an eye on the $3,200 psychological mark, which would liquidate over $97 million worth of leveraged short positions. A move further down to $3,170 would liquidate over $329 million worth of short leverage across all exchanges, according to Coinglass data.

Ether price has been underperforming Bitcoins price this year in U.S. dollar terms. Bitcoin is up 49% year-to-date (YTD), while Ether is up 36%. Over the past three months, BTC rose 56% while ETH rose 28%, Tradingview data shows.

Related: 'China is about to start bidding' Will Hong Kong Bitcoin ETFs spark the halving rally?

The last time the ETH/BTC ratio was around 0.048 BTC was at the beginning of May 2021 before ETH price fell two consecutive months in a row, declining 2.5% during May and over 15% to $2,276 by the end of June 2021.

Yet, Ether price could be setting up for a rally, thanks to theapproval of Bitcoin and Ether exchange-traded funds (ETFs) in Hong Kong, according to Andrey Stoychev, the head of Prime Brokerage at Nexo. He told Cointelegraph:

The current Ether price levels could represent a good buying opportunity, said Stoychev:

The focus on Bitcoin ETFs, combined with the high transaction costs on the Ethereum network, has taken the spotlight off Ether, according to Jonathan Caras, the head of communication at Levana perpetual futures protocol.

Caras added that Ether will need a significant catalyst, like an Ethereum ETF, to make a comeback. He told Cointelegraph:

Related: How high can Bitcoin go? New BTC price prediction sees cycle top at $180K

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

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ETH price nears 3-year lows vs. Bitcoin Will an Ethereum ETF stem the tide? - Cointelegraph

Telos Foundation partners with Ponos Technology to develop advanced Ethereum Layer 2 network – InvestorsObserver

April 19, 2024 | Author: admin

Telos Foundation partners with Ponos Technology to develop advanced Ethereum Layer 2 network

2024-04-19 05:00:28 ET

The Telos Foundation, known for its influential contributions to blockchain technology, announced today at TOKEN2049 in Dubai its strategic partnership with Ponos Technology, a leading firm specializing in Zero Knowledge Proof (ZKP) research and development.

This collaboration is set to pioneer the development of an end-to-end optimized, hardware-accelerated Ethereum Layer 2 (L2) network, leveraging Teloss proprietary technology, SNARKtor , a decentralized recursive proof aggregator.

The initiative will adopt a hardware-software co-design approach, which is crucial for achieving the scale of performance required for Ethereums massive user base.

Ponos Technology brings its expertise in ZK proving solutions, particularly through FPGA acceleration, which enhances computation by integrating co-designed hardware and software modules.

This approach is expected to significantly improve scalability, data protection, and interoperability across Ethereum platforms.

Slobodan Lukovic, CEO and co-founder of Ponos Technology, highlighted the transformative potential of ZKP technology, drawing parallels to the evolution of AI.

Just like steady advancements in AI, enhancements in algorithms and hardware will commoditize ZKPs, paving the way for widespread adoption across numerous industries due to increased efficiency and security.

In addition to Ponos Technology, Telos is expanding its development network by partnering with several top-tier organizations in the blockchain realm.

These include Digital M.O.B., known for their work on high-profile projects like MetaMask and MakerDAO; ATKA, a Paris-based web3 incubator with a track record of fostering successful projects; and Cometh, led by Jerome de Tychey, President of ETH France and a new technical EVM advisor to Telos.

John Lilic, Telos Executive Director and a prominent figure in the blockchain industry, will coordinate the project. He emphasized the necessity of a hardware-software co-design to achieve next-level zkEVM performance.

Our approach with Ponos Technology and our expanded partner network is crafted to deliver a high-performance, hardware-accelerated zkEVM L2. This is crucial for supporting scalable and secure applications on Ethereum.

Telos, established in 2018 without an ICO or token sale, continues to drive innovation with its two primary networks, Telos EVM and Telos Zero.

The Telos team is eagerly preparing for EthCC in July, where they will unveil the first-ever demo of SNARKtor live from Brussels, setting the stage for the official launch of the Telos L2.

The post Telos Foundation partners with Ponos Technology to develop advanced Ethereum Layer 2 network appeared first on Invezz

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Telos Foundation partners with Ponos Technology to develop advanced Ethereum Layer 2 network - InvestorsObserver

Ethereum A buy opportunity ahead of Bitcoins halving could emerge IF – AMBCrypto News

April 19, 2024 | Author: admin

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AMBCrypto's content is meant to be informational in nature and should not be interpreted as investment advice. Trading, buying or selling cryptocurrencies should be considered a high-risk investment and every reader is advised to do their own research before making any decisions.

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Ethereum A buy opportunity ahead of Bitcoins halving could emerge IF - AMBCrypto News

Why Ethereum is at a real risk of falling below $3,000 – AMBCrypto English

April 19, 2024 | Author: admin

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Why Ethereum is at a real risk of falling below $3,000 - AMBCrypto English

Bitcoin Fees Surpass Ethereums | News – ihodl.com

April 19, 2024 | Author: admin

Bitcoin has been generating higher fees than Ethereum for three consecutive days, indicating a possible preparation for the upcoming Bitcoin halving and the introduction of Runes in Bitcoin.

According to Crypto Fees, last April 17, Bitcoin miners collected $7.47 million in fees, outpacing Ethereum miners, who received $7.31 million.

This trend continued on April 15 and 16, when Bitcoin miners earned $9.98 million and $5.91 million respectively, outpacing Ethereum stakers by $3.5 million and $1.1 million.

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However, based on 7-day average fees, Ethereum maintains a slight lead with $8.55 million versus Bitcoin's $7.57 million.

With the next halving scheduled for tomorrow, the rewards for miners will be halved from 6.25 BTC to 3.125 BTC.

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Bitcoin Fees Surpass Ethereums | News - ihodl.com

Degen Chain Tops Ethereum TPS Charts with 37.1 TPS in 24 Hrs – Crypto Times

April 19, 2024 | Author: admin

An Ethereum layer-3 blockchain, Degen Chain, broke the record for transaction per second (TPS) rate by achieving 37.12 TPS in the last 24 hours, surpassing its base blockchains 30.81 TPS. This 68.56% increase resulted in processing 3.2 million transactions in a day, according to L2BEAT data.

Despite its high TPS, Degen Chain saw low trading volume at $819,600, with an average transaction value of $0.27, contrasting sharply with Ethereums $1,867 and Bases $170 averages.

Experts caution against overreliance on TPS as a scalability metric, noting its failure to consider transaction complexity. Degen Chains success is attributed to its Degen (DEGEN) token, initially a tipping token on Farcaster.

The platform now boasts $4.1 million in locked value, with the DEGEN tokens market cap at $345 million. Degen Chain is hailed as an ultra-low-cost layer 3 blockchain, leveraging Arbitrum Orbit and Bases settlement layer for scalability.

Degen Chains success, despite low trading volume, showcases the potential of its DEGEN token and its innovative approach to layer-3 blockchain technology.

Also Read: Ethereums Vitalik Buterin Makes Waves with 100 ETH Railgun Deposit

Ethereum liquid staking protocol Puffer Finance raises $18M in Series A – Cointelegraph

April 19, 2024 | Author: admin

Puffer Finance, a liquid staking project built on Ethereum restaking protocol Eigenlayer, has secured $18 million in a Series A funding round to launch its mainnet.

According to the April 16 announcement, the round was led by Brevan Howard Digital and Electric Capital, with key investments from Coinbase Ventures, Kraken Ventures, Lemniscap, Franklin Templeton, Avon Ventures (a VC fund affiliated with Fidelity Investments' parent firm), Mechanism, Lightspeed Faction, Consensys, Animoca, GSR and other angel investors.

According to data from DefiLlama, shortly after its early test phase in February, Puffer Finance surpassed a total value locked (TVL) of $1.2 billion. To date, the protocol has raised a total of $23.5 million in venture capital funding.

Following this round, Puffer secured a strategic investment from Binance Labs, enhancing its position within the Liquid Restaking ecosystem, Puffer Finance said in its announcement, alluding to technological advancements in tandem with its mainnet launch.

Puffer Finances technology allows Ethereum validators to reduce their capital to just 1 Ether (ETH), down from the 32 ETH required for individual stakers. In addition, users who stake Ether via Puffer receive Puffer liquid restaking tokens (nLRTs), which can then be used to farm yields in other decentralized finance protocols simultaneously with their Ethereum staking rewards.

The process, known as liquid staking, has been long practiced by other blockchains, such as Cosmos, and has only recently moved to Ethereum after the Merge upgrade that shifted the network to proof-of-stake. We aim to significantly reduce the barriers for home validators to participate, while delivering the most advanced liquid restaking protocol, Amir Forouzani, core contributor at Puffer Labs, said in a press statement.

On March 6, Cointelegraph reported that EigenLayer shot passeddecentralized finance lending protocol Aave in TVL, with $10.4 billion worth of crypto committed to the protocol after temporarily removing a cap on how much users could stake.

Dune Analytics data shows EigenLayer has over 107,900 unique depositors, with DefiLlama stats showing that 74% of staked tokens are Wrapped Ether (wETH) and Lido Staked Eth (stETH). Liquid staking protocols are currently the largest DeFi protocol category with nearly $55 billion in locked value across about 160 protocols buoyed mainly by Lido, the largest protocol by locked value at $35 billion.

Related:Restaking protocol EigenLayer partially launches on Ethereum mainnet

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Ethereum liquid staking protocol Puffer Finance raises $18M in Series A - Cointelegraph

Telos & Ponos Unveil Ethereum L2 Partnership at TOKEN2049 – Crypto Times

April 19, 2024 | Author: admin

In a momentous announcement at TOKEN2049, Telos revealed a groundbreaking collaboration with Ponos Technology to develop a hardware-accelerated zkEVM L2 Ethereum network. Led by Executive Director John Lilic, the unveiling marks a significant milestone for Telos.

While formally introduced at TOKEN2049, the teams have been quietly laboring on this initiative, combining hardware and software expertise to forge a novel approach to network construction.

This innovative method promises enhanced zkEVM performance at scale, reducing latency, and boosting cost and energy efficiency.

Spearheaded by Telos Head of ZK Technology, Alberto Garoffolo, the network will harness the power of SNARKtor, a decentralized recursive proof aggregator.

John Lilic said, Fundamentally, Ethereum will need to take a hardware-software co-design approach in order to realize zkEVM performance at tremendous scale. Thats the approach were taking with Ponos Technology and our growing partner network as we build a hardware-accelerated zkEVM L2.

In addition to Ponos, a coalition of key partners is joining forces to develop, distribute, and raise awareness of the network.

Among them are Digital M.O.B., renowned for their Ethereum prowess with projects like MetaMask and MakerDAO; ATKA, a Paris-based web3 incubator known for nurturing projects like Morpho and Mangrove; and Cometh, led by ETH France President Jerome de Tychey, who now advises Telos on technical EVM matters.

Despite the immense promise of ZK technology, developers have faced challenges in achieving both rapid speeds and top-notch security at scale.

Also Read: EY Automates Contracts Using ZK-Proofs on Ethereum

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Telos & Ponos Unveil Ethereum L2 Partnership at TOKEN2049 - Crypto Times

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Ethereum layer 2 Scroll unveils loyalty program to reward early adopters and active users – Crypto Briefing

Ethereum Poised for $1 Billion Profit in 2024 as DeFi Surges – Crypto Times

ETH price nears 3-year lows vs. Bitcoin Will an Ethereum ETF stem the tide? – Cointelegraph

Telos Foundation partners with Ponos Technology to develop advanced Ethereum Layer 2 network – InvestorsObserver

Ethereum A buy opportunity ahead of Bitcoins halving could emerge IF – AMBCrypto News

Why Ethereum is at a real risk of falling below $3,000 – AMBCrypto English

Bitcoin Fees Surpass Ethereums | News – ihodl.com

Degen Chain Tops Ethereum TPS Charts with 37.1 TPS in 24 Hrs – Crypto Times

Telos & Ponos Unveil Ethereum L2 Partnership at TOKEN2049 – Crypto Times

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