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.
The decrease in the burn rate has pushed the number of circulating coins to its highest level since early March, currently averaging 120,000 ETH.
While the expiration of the 375,000 BTC and ETH options, with a combined valuation of close to $3 million, may influence market dynamics, the overall impact is uncertain.
USDe aims to rival the likes of Tether’s USDT and Circle’s USDC, the top two stablecoins by market capitalization.
The recent 20 percent rise of Ethereum price against the United States dollar has rejuvenated calls for anticipated altseason.
WisdomTree Physical Bitcoin (BTCW) and WisdomTree Physical Ethereum (ETHW), will give investors access to Bitcoin and Ethereum while being fully backed by the actual assets.
Despite the competition, Ethereum’s ecosystem benefits from a rich developer community and a vast array of dApps that drive its value and utility.
The Ethereum network is staking a substantial portion of Ether’s supply, unlike Bitcoin. On-chain data indicates that staking contracts lock over 27% of the total Ether supply, generating yield for their owners.
Rumors surrounding the possible approval of ETH have been more intense lately.
Ethereum spearheaded the altcoin rally, driven by renewed optimism about the approval of spot ETH ETFs by the US SEC.
The open interest for the monthly expiry of Ethereum options has surged to $3.2 billion with the call-to-put ratio favouring the buy options.
An Ethereum whale deposited 15,000 ETH to crypto exchange Kraken sparking speculations of a major dump ahead of the spot Ethereum ETF decision ahead this week on May 23.
Most of the losses came from traders who had taken long positions, hoping for a rise in the value of BTC and Ether.
Coinbase said that the market is underestimating the odds and timings of a potential spot Ethereum ETF approval, thereby leaving sufficient space for upside surprises.
While Bitcoin appears relatively balanced between long and short positions, Ethereum price weakness has dampened market confidence.
The general interest in Bitcoin skyrocketed following the approval of eleven spot BTC ETFs in the United States in January this year. The lower chances of approval of a spot ETH ETF in the United States are not helping Ether’s case.