Ethereum News Today
Ethereum is a public blockchain network that gave rise to the most popular altcoin; ether (ETH). The Ethereum platform was developed by Russian programmer Vitalik Buterin in July 2015 and it features smart contracts as well as an open-source nature that avails its users the choice of designing their programs without the interference of third parties or middlemen.
Ethereum’s Ether (ETH) was built on the ERC-20 protocol and it is ranked the 2nd digital currency based on market capitalization which currently stands at over 18.8 trillion USD. The coin serves as the network fees to miners on the Ethereum platform.
On its launch in 2015, there were 72 million ETH tokens pre-mined after its ICO raised over 16 million dollars in 2014. On 13th January 2018, ETH reached an all-time high of over 1,432 USD. Few months after its launch in 2015, ETH’s price dropped to its all-time low of 0.4209 USD on 21 October 2015.
Eth News
Interestingly, users can also create their custom tokens on the Ethereum blockchain network. This unique feature as seen the platform often referred to as the leading decentralized Apps (dApps) and smart contracts platform. Decentralized Apps are run and implemented precisely as programmed after it is set out on the Ethereum network; this makes it hard to censor and reduces their vulnerability to attacks. Ethereum emphases on running software design codes of dApps.
When it comes to decentralized finance in the dApps industry, Ethereum boasts of leading all other blockchain platforms in the number of applications developed. Ethereum has made significant attempts to solve the scalability issues in the crypto space in recent years and appears to be making progress in that regard.
Stay up to date with the latest ethereum news and information on Coinspeaker as we bring you breaking news on ethereum price, market capitalization, wallets, dApps, smart contacts, and its blockchain.
Benjamin Cowen foresaw ETH price dropping to $1200 as the 2024 pattern mirrored 2019 trend.
The Buterin-linked wallet has transferred 760 ETH in exchange for 1.835 million USDC at an average price of $2,414 per ETH.
Ethereum price has suffered bearish sentiment in the past five months amid a low accumulation rate from institutional investors as observed by spot Ether ETF cash flows.
Following the Ethereum ETF launch, the average 5% market depth for ETH pairs on US-based centralized exchanges has dropped by 20% and currently stands at around $14 million.
Issues around financial accountability by the Ethereum Foundation have elicited strong comments from community members.
Nick Forster, founder of Derive, outlines three crucial factors for Ether to break its all-time high: Trump’s victory in the 2024 U.S. election, aggressive Federal Reserve rate cuts, and a rise in global liquidity.
Ethereum revenues took a hit in 2024, dropping below $100 million in May from a high of +$500 million in March.
Artemiy Parshakov, Head of Staking at P2P.org, points out that increased network participation lowers individual staking rewards, which leads to anticipated reductions in APRs for traditional staking.
Vitalik Buterin’s past movements of ETH have often had market-wide implications. For instance, in May 2021, his donation of over $1 billion worth of different cryptocurrencies to an India Covid-19 Relief Fund led to a substantial decline in Ethereum price.
The expiring options could lead to increased market activity and heightened volatility due to the large volume of contracts.
In addition to these significant sell-offs, there is evidence of waning interest in Ethereum-related investment products.
The Ethereum co-founder reiterated that airdrops are designed to incentivize community members, not crypto farmers. They are a means of rewarding community members’ contributions to the project and also serve as a strategy to be reasonably egalitarian.
SSV Network and Ether.fi launched a Learn & Earn campaign to promote decentralized restaking on Ethereum.
Top Ethereum investors led by Jump Trading have been on a selling spree in the last few weeks, thus increasing bearish sentiment.
Several technical indicators combined with fundamental aspects have shown that Ethereum price has low midterm bullish sentiment.