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Ethereum 2.0 Testnet Kintsugi Goes Live in Preparation for Merge
Kintsugi is a public testnet for people to experiment with Ethereum 2.0 before the merge to proof of stake.
By Jeff Benson
3 min read
Dec 20, 2021
In brief
Ethereum developers have released several short-lived testnets to experiment with the merge.
The release of this "longer-lived public testnet" should be one of the last steps before Ethereum 2.0 is functional.
Ethereum developer teams have been hard at work preparing for Ethereum 2.0, the proof-of-stake platform designed to make the blockchain's transactions faster, cheaper, and less energy-intensive.
But while ETH2 isn't ready quite yet, its first major testnet is, providing the public with a look into how the network may soon function.
Tim Beiko, who coordinates the Ethereum core developers, announced the Kintsugi testnet today on the Ethereum Foundation blog. Kintsugi is a Japanese word for using gold to repair broken objects without attempting to hide the damage; the word evokes a sense of transparency about something's history.
Tim Beiko | timbeiko.eth ??
@TimBeiko
Over the past few months, client teams have been working tirelessly to implement a new set of merge milestones. They are now live on a new testnet: Kintsugi ??!
Here's how you can join the testnet and help with testing: https://blog.ethereum.org/2021/12/20/kintsugi-merge-testnet/ ??
Christmas came early??!
While the Ethereum network in its current state isn't broken, it is a victim of its success. After pioneering decentralized finance applications, NFTs, and even blockchain-based games, network transaction costs are scaring off some users. Swapping assets on a peer-to-peer basis or bidding on digital collectibles on-chain requires part of the network's energy—to push transactions through relatively quickly, people must pay higher fees or wait until there's less activity on the blockchain.
Ethereum 2.0 solves for that. It moves the network from a proof-of-work system like Bitcoin's, which has "miners" validate transactions, to a proof-of-stake system that lets people secure the network by locking up some of their ETH into the protocol. While both miners and stakers get rewards, Ethereum's proof-of-stake system also scales up the space available on the network.
Developers have already made strides toward Ethereum 2.0.
Phase 0 of the upgrade went live last December with the launch of the Beacon Chain, which will eventually be used to bridge the current network to the new one. And billions of dollars in ETH have already been staked to the new network.
To prepare for the merge, developers have introduced four short-lived testnets designed to simulate how the network will work once it goes to proof of stake. Kintsugi is here to stay, however, and designed not just for in-the-know developers to use but all members of the public.
"Although client development and UX continue to be refined, we encourage the community to start using Kintsugi to familiarize themselves with Ethereum in a post-merge context," wrote Beiko.
Most are hoping that things are in good enough shape to make "#testingthemerge" a quick process, so that other testnets—such as Görli and Rinkeby—can be used to simulate the transition.
"Once these have upgraded and are stable," Beiko wrote, "next up is Ethereum mainnet’s transition to proof of stake."
https://decrypt.co/88889/ethereum-testnet-kintsugi-goes-live-preparation-merge
Don't say that!
Im still making em.
The Weeknd Releases Ethereum NFTs via Tom Brady's Autograph Platform
His record-breaking “Blinding Lights” single inspires a series of seven NFTs to be auctioned on OpenSea.
By Andrew Hayward
3 min read
Dec 20, 2021
In brief
* The Weeknd is launching NFTs via Tom Brady’s Autograph platform, in
collaboration with Billboard and The Infinite.
* The seven Ethereum NFTs will be auctioned starting today via OpenSea.
The Weeknd (a.k.a. Abel Tesfaye) recently celebrated a major milestone when his hit single “Blinding Lights” marked 90 weeks on Billboard’s Hot 100 chart—an all-time record. Now he’s celebrating the record with a series of limited-edition NFT collectibles released through Tom Brady’s Autograph platform and the OpenSea marketplace.
The seven Ethereum NFTs mark a collaboration between the artist, Autograph, music industry publication Billboard, and collectible cards startup The Infinite. The Weeknd recently released physical trading cards inspired by the milestone via his official website.
The NFTs are currently listed on OpenSea, and auctions for each will begin this afternoon and run into Thursday. Six of the NFTs feature footage from the “Blinding Lights” music video, while the other shows The Weeknd on the cover of Billboard. All seven NFTs have been digitally signed by the artist.
The Weeknd’s first NFTs on Autograph—co-founded by Brady, the NFL icon—have been expected since the musician joined the company’s board of directors in October. He will help launch Autograph’s music collectibles vertical, following the platform’s initial sports focus and gradual expansion into entertainment (including licensed film NFTs).
“The same way that we had Tom Brady, Tiger Woods, and our other athletes lead the sports vertical into the world,” Autograph CEO Dillon Rosenblatt told Decrypt last month, “we see The Weeknd leading our music vertical and pulling in people that are close to him ... and then building out a similar group of true thought leaders in the space, led by Abel.”An NFT is a blockchain-backed token that proves ownership for a digital item. Ethereum is currently the leading platform for NFT collectibles, and the market has ballooned throughout 2021, with an estimated $22 billion in trading volume so far this year.
Previous Autograph drops have been minted on Polygon—a layer-2 scaling solution for Ethereum that cuts down on fees and energy consumption—and released exclusively through the DraftKings Marketplace. The Weeknd’s first drop bucks both trends, albeit with a significantly smaller collection size than other Autograph drops.
Autograph was founded in April and released its first NFTs in August featuring Brady, the seven-time Super Bowl champion and increasing crypto and NFT advocate. Since then, the platform has launched NFT collectibles from fellow athletes like Woods, Simone Biles, Tony Hawk, Wayne Gretzky, and Naomi Osaka.
While today’s drop marks The Weeknd’s first project with Autograph, he has already released NFTs on another platform. Back in April, he launched digital collectibles on Nifty Gateway, generating more than $2 million from the sale.
https://decrypt.co/88839/the-weeknd-releases-ethereum-nfts-via-tom-bradys-autograph-platform
You Already Know! $ETH $ETHE Premium World Computer! @SaturnProtocol CHAiNLiNK’d Coca Cola! ALT season 2021! 2022 Too! HaHa! Florida Convict Music! X Dealer! https://open.spotify.com/track/4xAk8Lw82G3YoVSOdVAsBx?si=29140ebd458a4b54
Yes, I think a trading range of $5,000 to $8,000 in 2022.
Back to business. 4500 by year end, 5k in early 2022.
Small Ethereum investors increase exposure as ETH loses $4K level
YASHU GOLA
6 HOURS AGO
The number of Ethereum addresses holding less than 0.01 ETH and 0.1 ETH has been climbing since early November against an ongoing price correction.
Ethereum's native token Ether (ETH) has dropped by over 18% after establishing an all-time high around $4,867 on Nov. 10, now trading near $3,900. Nonetheless, the plunge has not deterred retail investors from buying the token in small quantities.
According to data gathered by Glassnode — a blockchain analytics platform, the number of Ether addresses holding less than or equal to 0.01 ETH reached a record high level of 19.95 million on Dec. 4, the day ETH dropped to as low as $3,575 (data from Coinbase).
Meanwhile, the number of Ethereum wallets with balances of at least 0.1 ETH also kept climbing despite Ether's correction from $4,867 to $3,575, eventually hitting a new all-time high of 6.37 million on Dec. 12.
As a result, the number of Ether addresses with a non-zero balance also reached a new record high of nearly 70 million on Dec. 12. In contrast, addresses holding less than or equal to 1 ETH dropped alongside prices, indicating that they were less interested in buying Ether's sessional dips.
Bounce ahead?
The army of retail investors buying Ether in small quantities marches ahead as the ETH price drops toward a support confluence.
Notably, Ether plunged Monday by over 5% to near $3,900 in a selloff inspired by similar corrections across the cryptocurrency space. Nonetheless, ETH price reached an area that has been lately attracting buyers.
The first support came from the lower trendline of the descending channel pattern — the blacked range shown in the chart above. Meanwhile, the purpled 100-day simple moving average (100-day SMA) and the red pullback area — as it has been since Oct. 20 — raised Ether's potential to retrace upward in the near term.
While smaller retail investors seem to have been accumulating Ether, their larger counterparts look conflicted.
For instance, Glassnode data shows a marginal recovery in the buying interest by the Ethereum wallets with balances of at least 1,000 ETH. Still, overall, their numbers have gone down from near 7,200 to below 6,350 in 2021.
Exchanges' Ether balances
More upside cues come from Ether's declining balances across all the crypto exchanges.
The number of coins held by exchanges recovered from nearly 14 million ETH to 14.13 million ETH since Dec. 9 — which coincided with an almost 10.50% price drop — but its long-term trend remains skewed to the downside.
A lower ETH balance across exchanges hints at traders' intention to hold their coins or stake them in the pools of decentralized finance (DeFi) projects to earn yields instead of trading them for other assets.
DeFi's total value locked (TVL) sits at a new all-time high above $250 billion, according to data provided by Defi Llama, out of which Ethereum's TVL came out to be over $180 billion.
"However, Ethereum's dominance over DeFi activity has taken a big hit in H2 2021," reminded Delphi Digital, a crypto-focused investment firm, adding that:
"As the multi-chain narrative plays out, capital has moved to ecosystems like Solana, Terra and Avalanche."
High gas fees have been the main reason behind investors seeking potential "Ethereum killers."
For instance, a decentralized exchange swap costs $70 on Ethereum but $1 on Terra and Solana, although some analysts anticipate that Ethereum's full transition from proof-of-work to proof-of-stake next year would solve the high gas problem.
"Ethereum's price will rise at a much faster rate than Bitcoin, due to the move to proof-of-stake," noted Tom Higgins, CEO at asset management platform Gold-i.
https://ih.advfn.com/stock-market/COIN/ETHUSD/crypto-news/86793891/small-ethereum-investors-increase-exposure-as-eth
https://cointelegraph.com/news/small-ethereum-investors-increase-exposure-as-eth-loses-4k-level
White Castle Goes Crypto, Scoops Ethereum Name and Seahams NFT
Another well-known brand has joined the crypto space, with restaurant chain White Castle registering an ENS domain name and buying up a buzzy new NFT.
By Liam J. Kelly
2 min read
Dec 10, 2021
American fast-food chain White Castle took to Twitter to announce that it had just registered with the Ethereum Name Service (ENS).
ENS has been compared to the crypto version of the Internet’s Domain Name System (DNS). Like purchasing a domain, White Castle now owns the whitecastleofficial.eth address.
Instead of a string of numbers and letters, people could now hypothetically send cryptocurrencies to the address “whitecastleofficial.eth.”
On the same day, the restaurant’s Twitter account also updated its avatar to that of a “Seahams” NFT.
Etherscan shows that the address which owns the White Castle ENS name and the NFT began its crypto adventure on December 8. The address used crypto exchange Coinbase to facilitate most of its transactions.
White Castle’s entrance into the crypto sector is also just the latest in name-brand inductees.
White Castle joins brands embracing crypto
2021 has been a breakout year for brand adoption of cryptocurrencies and non-fungible tokens (NFTs), with the likes of Budweiser, Nike, and Taco Bell embracing crypto and NFTs in their marketing campaigns.
Taco Bell, for example, launched a series of taco-themed collectibles as NFTs back in March. Shortly after they launched, they were quickly sold out. Likewise, Budweiser has launched 1,936 NFTs of different images of the brand's logos over the course of the firm’s history. The cost of each jpeg ranges from $499 to nearly $1,000 a pop.
As for White Castle, its crypto play has resulted in at least one sale. Shortly after the restaurant announced its entrance into the industry, Brantly Millegan, the director of operations at ENS, tweeted that he would “buy some White Castle as soon as [he could].”
https://decrypt.co/87991/white-castle-goes-crypto-scoops-ethereum-name-seahams-nft
The live Ethereum price today is $4,203.69 USD with a 24-hour trading volume of $26,919,122,293 USD.my friend sent me these stats on my FM WhatsApp account. We update our ETH to USD price in real-time. Ethereum is down 2.27% in the last 24 hours. The current CoinMarketCap ranking is #2, with a live market cap of $498,897,631,532 USD. It has a circulating supply of 118,680,946 ETH coins and the max. supply is not available.
Ethereum transaction energy use equals 2.5 miles in a Tesla Model 3: Report
COINTELEGRAPH RESEARCH
5 HOURS AGO
One Ethereum transaction uses enough energy to power a house all day, but how much does the fiat financial system use?
According to Cointelegraph Research’s original investigation into the most energy-efficient blockchains for nonfungible tokens (NFT), the Ethereum network is currently using more energy than Costa Rica does during an entire year. To put this into perspective, a single transaction on Ethereum uses roughly 30 kilowatt-hour, which is equivalent to powering a house in the United States for a whole day. 100 Ethereum transactions is equivalent to driving approximately 390 kilometers in a Tesla Model 3. However, Ethereum’s upcoming move to Eth2 will change all of this for the better.
In contrast, a transaction on Tezos takes 0.0016 kWh or less than the energy required to charge an Apple Tablet for 10 minutes. 100 Tezos transactions is equivalent to driving 10 km in a Tesla Model 3. The energy use of the entire Tezos network is approximately equivalent to two households in the U.S. for the whole year. One question, though, is how competing blockchains such as Tezos, Polkadot and Solana will perform on the market once Ethereum transitions to Eth2.
(I removed the 3rd paragraph, as it was a repeat of the 1st!)
Blockchain energy consumption has been subject to intense debate. While NFTs are present on several blockchains, the new research report only compared energy consumption on two chains. Energy consumption is directly related to a blockchain’s consensus mechanism, where Ethereum represents proof-of-work (PoW) and Tezos is used as an example of proof-of-stake (PoS).
Download the full report here, complete with charts and infographics.
The results show that the Ethereum blockchain is significantly more energy-intensive than an alternative PoS chain such as Tezos. In 2021, transactions on Tezos have been more than 35,000 times more energy-efficient than those on Ethereum.
When addressing the issue of energy consumption, one, first of all, needs to distinguish transaction costs and the costs of maintaining the network. Naturally, a PoW system such as Ethereum will be more energy-intensive than a PoS blockchain such as Tezos.
The PoW vs. PoS debate
A PoW blockchain network depends on a large number of individual miners contributing to the network’s hash power in order to secure the network. Thus, the energy consumption of Ethereum, for example, is not directly related to the number of transactions. Each transaction only contributes marginally to the total energy consumed.
However, when comparing energy consumption across blockchains, it needs to be scaled by a metric that captures how extensively a network is used. Therefore, the total energy consumption is divided by the number of transactions that a network performs within a day. For Ethereum, the total energy consumption is a product of the average daily hash rate and an estimate for hardware efficiency. Finally, the results are annualized for comparability.
For Tezos, a slightly different strategy was followed, as energy consumption in a PoS network does not depend on hash rate. The calculation comes down to the total energy consumption for each day and multiplying it by the number of active delegates — that is, the number of active bakers by the daily energy consumption of a baker.
The results support previous findings on the vastly different energy consumption of PoW vs. PoS blockchains. It can be estimated that in August 2021, the creation of an NFT on Tezos was roughly equivalent to using a hairdryer for two seconds, while creating an NFT on Ethereum amounted to using it for more than 20 hours.
All about efficiency
For now, the Ethereum blockchain is not as energy efficient as PoS alternatives leaving aside potential security concerns when comparing PoW and PoS blockchains. Thus, minting an NFT on Ethereum appears to be less environmentally friendly compared to less energy-intensive alternatives. However, Ethereum’s move toward a PoS algorithm will likely lead to a substantial decrease in energy usage, which is going to change the situation for the better.
This article is for information purposes only and represents neither investment advice nor an investment analysis or an invitation to buy or sell financial instruments. Specifically, the document does not serve as a substitute for individual investment or other advice.
https://cointelegraph.com/news/ethereum-transaction-energy-use-equals-to-2-5-miles-in-a-tesla-model-3-report
The US Dollar is backed by Hopes and Dreams. Because it has an Economic value attached.
We are going to see a point where Cryptocurrency like ETH and BTC will become an inflation hedge and a wealth store. We are in fact, already there.
Ethereum isn't "backed" by Currency, it IS Currency.
I just bought a used car recently and I jokingly asked the dealership owner if he accepts Ethereum payments. He's like if that's how you wanna pay I'll give you my ETH address
I could have bought the car with ETH. How is it not "money".
Granted the guy probably would have held the ETH for a few months then sold at an upswing, or sold immediately to get the USD but he can do what he wants at that point. My ETH was as good as USD to him.
Three Arrows buys 156K ETH in the weeks after CEO ‘abandoned ETH’
KEIRA WRIGHT
13 HOURS AGO
Only a few weeks ago, CEO Zhu Su was blasting ETH on Twitter for high gas fees and accessibility issues. Now, his company is buying the dip.
Crypto hedge fund Three Arrows Capital (3AC) has bought more than half a billion dollars worth of Ether (ETH) in the time since CEO Zhu Su publicly slammed the cryptocurrency on Twitter. Do the purchases mean he’s changed his mind, or was he just taking advantage of a market crash to buy the dip?
In an anti-ETH tirade between Nov. 20 and Nov. 22, Zhu tweeted about why he had “abandoned Ethereum despite supporting it in the past.” The thread came in response to a tweet from Synthetix founder Kain Warwick, who’d called out people who have “sold out in pursuit of profit maximization.” During the tweet storm, Zhu claimed that Ethereum culture “suffers massively from the Founders’ Dilemma” and that “everyone is already far too rich to remember what they originally set out to do.”
However, after attracting wide attention, he made a U-turn, saying he wanted to “soften” his original stance and that “I love Ethereum and what it stands for.”
In the 17 days or so since the threads, approximately 156,400 ETH or $676.37 million has been transferred to a wallet that blockchain analytics firm Nansen has associated with 3AC.
Almost all the funds entering the wallet during this period were transferred from Binance, FTX exchange or Coinbase.
Zhu confirmed the transactions earlier today in response to a tweet from Chinese blogger Wu Blockchain, saying that although Ethereum’s layer one is still “unusable for newcomers,” he’d still “bid hard on any panic dump like this weekend.”
The wallet shows 3AC made the majority of its purchases during the weekend price crash.
When the anti-ETH tweets emerged, many Twitter users believed he was trying to pump rival project Avalanche (AVAX), which 3AC has invested in. In response to a user asking if the ETH purchases meant he’d dumped his AVAX holdings for ETH, he said that he has “never sold AVAX” and simply “bought this ETH from whoever was financially illiterate enough to sell this weekend.”
In early November, Three Arrows Capital was announced as an investor in Blizzard, a fund to promote the development of AVAX. Following Zhu’s initial tweets, AVAX pushed out Dogecoin (DOGE) from its spot as the 10th-largest crypto by market capitalization. Zhu tweeted a graph of AVAX’s growth captioned “top 10” in the hours before his U-turn.
At 23:34 UTC on Tuesday, 93,791.894 ETH was moved from the wallet belonging to 3AC to an address that appears to belong to a major trader. Smaller amounts have been moved to other addresses, including 500 ETH moved to an apparent NFT investment wallet.
https://cointelegraph.com/news/three-arrows-buys-156k-eth-in-the-weeks-after-ceo-abandoned-eth
Please define "actual money". You think dollar bills are "money"?
FX Empire
Ethereum Price Prediction – Bulls Eye $4,500. A Breakout from $4,250 Key, however
Bob Mason
Mon, December 6, 2021, 7:54 AM
Ethereum Morning Session
At the time of writing, Ethereum was down by 3.02% to $4,076.
Vitalik Buterin outlines ‘endgame’ roadmap for ETH 2.0 https://cointelegraph.com/news/vitalik-buterin-outlines-endgame-roadmap-for-eth-2-0 via @Cointelegraph $ETH $ETHE Premium World Computer Ethereum MainNet GOLD Bulls! Shout Out UniBright Baseline Protocol $UBT ALT season
We see youre a amateur. Lol
Vitalik Buterin outlines ‘endgame’ roadmap for ETH 2.0
December 06 2021 - 11:15AM
Cointelegraph
The Eth2 launch process began in November 2020. The network’s switch to proof-of-stake is expected to make ETH a deflationary asset.
https://ih.advfn.com/stock-market/COIN/BTCUSD/crypto-news/86736325/vitalik-buterin-outlines-endgame-roadmap-for-e
SAM BOURGI
2 HOURS AGO
Vitalik Buterin outlines ‘endgame’ roadmap for ETH 2.0
The Eth2 launch process began in November 2020. The network’s switch to proof-of-stake is expected to make ETH a deflationary asset.
Ethereum co-founder Vitalik Buterin has outlined his vision for a “plausible roadmap” for Eth2, presenting a future where the largest smart-contract platform can increase its scalability while meeting high standards for trustlessness and censorship resistance.
In a Monday post titled “Endgame,” Buterin presented a thought experiment for how the average big blockchain — defined by very high block frequency, high block size and thousands of transactions per second — can still be considered sufficiently trustless and censorship-resistant. The obvious trade-off for this level of scalability is the centralization of block production. Buterin’s solutions, as presented in the blog post, do not address the centralization issue, but still provide a roadmap for implementation.
With respect to the solutions, Buterin suggested “a second tier of staking, with low resource requirements,” to carry out distributed block validation; “introduce either fraud-proof or ZK-SNARKS to let users directly (and cheaply) check block validity” directly; and “introduce data availability sampling to let users check block availability [and] add secondary transaction channels to prevent censorship.”
With these updates, “We get a chain where block production is still centralized, but block validation is trustless and highly decentralized, and specialized anti-censorship magic prevents the block producers from censoring,” Buterin explained.
Related: Vitalik Buterin proposes calldata limit per block to lower ETH gas costs
Buterin said block production would remain centralized even with the implementation of so-called “rollups,” which are layer-two solutions that execute transactions outside of the main Ethereum chain. (Interestingly, Buterin presented a rollup-centric roadmap for Ethereum in October 2020).
“No single rollup succeeds at holding anywhere close to the majority of Ethereum activity. Instead, they all top out at a few hundred transactions per second,” he said. While it may appear that rollups could contribute to distributed block production, decentralization may not last because of the possibility of cross-domain maximal extractable revenue, or MEV. As the name implies MEV refers to the maximum amount of value that can be earned from block production in excess of standard block rewards and gas fees.
The Ethereum co-founder concluded that there’s a high probability that block production will end up centralized regardless of the path to scalability that the network takes. The benefit of Ethereum’s rollup-centric roadmap is that it’s open to all futures, he said.
Excitement surrounding Ethereum has been building since November 2020 when the protocol first embarked on its long transition to proof-of-stake. The highly anticipated London hard fork, which puts ETH on track to become a deflationary asset, was implemented in August of this year. The hard fork introduced EIP-1559, which aims to reform the network’s fee market. As Cointelegraph reported, over 1 million ETH has already been burned since the EIP-1559 came into effect.
https://cointelegraph.com/news/vitalik-buterin-outlines-endgame-roadmap-for-eth-2-0
Tell that to the feds who keep printing paper money. Both useless
Ethereum will continue to crash to darn near worthlessness
'Tether' is rapidly printing billions of tether (USDT) supply. Fake.
None of this scam is backed by any actual money.
GET OUT WHILE YOU STILL CAN
Is That You Cathie! $ETHE Add More $ETH Premium ALT season Cosmos!
$ETHE @39.66 RSI 7! A Big Volume Spike MoMo INTL 250 @39.60 and anything lower would be another Screaming Buy… @50 @55 @73.50 on the Ask Level 2 Add More $ETH Premium MainNet Bulls! Shout Out Unibright and Baseline Protocol $UBT ALT season’ing!
The Coinbase Notifications Are Hilarious Ethereum Is Down Ha! $ETH $ETHE Premium World Computer GOLD And It’s still a Bull Run! 2021
Agreed… It’s been one year of a Bull Run, I don’t really expect much more unless we get that etf or Cathie does something with Tesla which it seems she is as it’s only 10% of her holdings now, perhaps she is buying more of ethe gbtc now or plans to soon, I can’t complain since the Ethereum split it’s gone up slow and steady and I still haven’t sold, I will when she does though
Don't aspect anything till AFTER the holiday's.
I expect Grayscale to get the etf soon for that and can’t wait!
Bitcoin almost done with the consolidation
$UBT The Baseline - Wednesday December 1 2021 Noon US Eastern Baseline Protocol UniBright UBT SEALS! Community #Online ENTERPRiSE ETHEREUM MainNet https://baseline-protocol.org Open Source $ETH $ETHE Premium Pattern GOLD Baseliners
Agreed, the dominance from Bitty is looking good for the Ethereum “Flippening” again! HaHa Perhaps we get the same play into the eoy/new year for the alts too, this time we have more adoption and Cathie Wood is in, so we’ll see what she does with Tesla as well
Another Epic Fail...
Looks bullish
$ETHE RSI 18! MoMo CDEL On The Bid Big Volume Spike! Add More $ETH Premium World Computer GOLD Bulls Shout Out to UniBright Baseline Protocol and Chico Crypto! Ethereum MainNet To Da MOON! ALT season
Eth2 devs put out call to community to help test out the Merge https://cointelegraph.com/news/eth2-devs-put-out-call-to-community-to-help-test-out-the-merge via @Cointelegraph @Grayscale Go Grayscale! Premium ALT season 2021! $ETH $ETHE
ETH 2.0 could bring 50K-100K tps lower gas fees and that burn rate is getting really impressive'
yup
emit...
Sold your mining rigs too early?
Lol going up like nuts now rookie
It is for sure the next best thing. U r simply buying software like a Microsoft when investing in ether
Damn. New world order is real. People complaining means, ethereum is the next DOT COM BOOM. CHEERS
'Eth' and all cryptos. GET OUT WHILE YOU STILL CAN.
Thank me later. This virus mutation will wipe out people's usage for this scam of an asset class. The show is over. protect yourselves.
ALL THE MONEY IN THE WORLD HAS BEEN MADE IN THIS JOKE. SELL WHILE IT STILL HAS ANY VALUE
I believe that SHIB has been good for ETH's business and price, please read below:
Ethereum Tests All-Time High as On-Chain Activity Grows, SHIB Burns ETH
Fredrik Vold
The price of ethereum (ETH) briefly touched a new all-time high on Friday, with key on-chain metrics growing faster than competitors over the past month. Meanwhile, the current meme coin craze is also contributing to ETH’s value proposition, with shiba inu (SHIB) now consuming more gas than even major stablecoins.
At 11:13 UTC, ETH was still up almost 5% over the past 24 hours to trade at USD 4,335, after earlier today briefly reaching north of the 4,400 mark for the first time ever.
The new all-time high (USD 4,416, per Coingecko) came as on-chain data compiled by Kraken Intelligence showed that the number of active Ethereum addresses has grown 5.8% since last month. The growth for Ethereum came as the other smart contract platforms Cardano (ADA) and Polkadot (DOT) saw a decline in the number of active addresses on their platforms of 8.9% and 3.3%, respectively. Meanwhile, Bitcoin (BTC) outperformed them all with a 9.7% growth.
Similarly, the number of transactions made over the Ethereum network also grew since last month, with an increase of 2.3% (the monthly average number of transactions - 1.2m). That compares to a growth in the number of transactions of just 1.5% for Polkadot, and a decline of 9.5% for Cardano. BTC saw an increase of almost 9% (to 272,000 transactions).
Not surprisingly, new highs for ETH also excited investors. Right around the same time as ETH hit its all-time high, the founder & CEO of Real Vision, Raoul Pal, said that he is “more than irresponsibly long ETH right now.”
“I now have leverage but via calls. This is by far and away the biggest personal position of my entire life by a factor of 10 (or more),” Pal said, adding in his timeframe for when he expects the major moves in ETH to be seen:
“My view horizon for this part of the trade is 6 to 9 months.”
However, as reported, per CoinShares data, last week, ETH saw investment outflows for a 3rd consecutive week. The firm said they believe it "is minor profit-taking as the price closes-in on all-time highs." At the same time, BTC saw 99% of all inflows totaling USD 1.45bn last week after BTC futures ETFs debuted last week in the US.
Meanwhile, it’s also worth noting that the rising price for ETH has coincided with the recent craze surrounding shiba inu, dogecoin (DOGE), and other meme coins, with the former being an Ethereum-based ERC-20 token.
As a result of this, all transactions made with Ethereum-powered SHIB also contributes to the burning of ETH tokens, which in theory should help push up its price. At press time on Friday, the SHIB token ranked as the 7th largest ETH destroyer, even ahead of the major stablecoin USDC and just below the popular wallet MetaMask’s Swap Router, blockchain data showed.
Token burning on Ethereum was introduced with the EIP-1559 upgrade on August 5 this year, with an aim to make ETH less inflationary than it was before. Since activation, ETH 671,259 (USD 2.9bn) have been burned, making up more than half of the new tokens issued over the same period, according to data from WatchtheBurn.com.
Meanwhile, as reported, the Altair hard fork, the first mainnet upgrade to Ethereum's beacon chain, went live this past Wednesday. The update is considered a "low stakes warm-up" to the upcoming Merge, when the current Ethereum mainnet, which is secured by a proof-of-work (PoW) consensus mechanism, "merges" with the beacon chain proof-of-stake (PoS) system.
https://cryptonews.com/news/ethereum-tests-all-time-high-as-on-chain-activity-grows-shib-burns-eth.htm
Sooo weird those are my two top holdings
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