Ethereum Remains The Basket Case This Bull Cycle, Further Price Dip?

Ethereum  Ang Ethereum ay Nananatiling Basket Case Itong Bull Cycle, Karagdagang Pagbaba ng Presyo?  While Ethereum (ETH) remains a central player in the crypto market, it faces mounting challenges in its quest for widespread adoption. Moreover, a recent report by 10x Research suggests that Ethereum is the “basket case” in this bull cycle. This has raised concerns about the ETH prices future trajectory as it recently lost hold on a crucial level.  Will Ethereum Price Continue To Dip?  The 10x Research report noted that despite Ethereum‘s pivotal role in facilitating DApps and the NFT market, its weak fundamentals have become a cause for concern. It negatively affects Bitcoin’s trajectory due to the correlation between these crypto behemoths. In addition, the poor fundamentals also bring doom to the Ethereum ecosystem.  During the previous cycle, Ethereum was positioned as a revolutionary force set to supplant traditional banking systems. However, its failure to swiftly address scalability issues and adapt to changing market dynamics has left it trailing behind. Whilst, Bitcoin has now assumed the mantle of digital gold, leaving ETH behind.  Meanwhile, the correlation between Bitcoin and Ethereum remains strikingly high, with an R-square of 95%. This underscores the interconnectedness of the two largest cryptocurrencies. Hence, Ethereums struggles are

2024-05-07Ethereum

Pumapasok sa Testnet ang ZK-rollup Ethereum Scaler na Miden ng Polygon

Ethereum  Pumapasok sa Testnet ang ZK-rollup Ethereum Scaler na Miden ng Polygon  Balita ng Ethereum ng Bitcoin  poligon, a prominent Ethereum layer-2 developer, has introduced an alpha version testnet of its new zero-knowledge rollup (ZK-rollup) solution named Miden amidst intensifying competition in Ethereum‘s scaling ecosystem. This move marks a significant step in Polygon’s efforts to enhance Ethereums scalability and efficiency.  Polygon Miden Alpha Testnet is Live  On May 6, in a post on X, Polygon announced the launch of the Polygon Miden Alpha Testnet, inviting developers to start testing this zero-knowledge rollup (ZK-rollup). Miden aims to expand Ethereums functionalities by leveraging advanced cryptography techniques.  Similar to other ZK-rollup solutions, Polygons Miden utilizes a form of cryptography that enables data verification or “proof” without disclosing the underlying data to the wider network. This innovation enhances privacy and scalability on the Ethereum blockchain.  Miden also incorporates client-side proving, allowing users to generate proofs for their own state transitions locally without exposing the state to the network, Polygon explained. This approach is designed to reduce network load while enhancing privacy and scalability.  Miden introduces additional functionality, such as private accounts that support private tokens and transactions, storing only the hash of the account on-chain for enhanced privacy.  Moreover, Miden implements parallel transaction

2024-05-07Ethereum

Ethereum Developers Aim to Simplify Crypto Wallet Usage with EIP-3074

crypto Ethereum  Ethereum Developers Aim to Simplify Crypto Wallet Usage with ‘EIP-3074’  Balita ng Ethereum ng Bitcoin  EIP-3074 aims to enhance Ethereum wallets by enabling smart contract control.  The proposal has received support for improving wallet UX.  Despite this, leaders caution against potential vulnerabilities.  With blockchain adoption on the rise, Ethereum developers are reviewing several Ethereum Improvement Proposals (EIPs) for the upcoming major update, Pectra. One such consideration is the EIP-3074 due to its potential to enhance the usability of crypto wallets.  Unlike those managed by smart contract code, the proposal focuses on externally owned accounts (EOAs), which users control through private keys. EIP-3074 seeks to enhance the programmability of these accounts by enabling smart contract authorization for transactions.  Furthermore, this improvement could improve user experience by enabling batching transactions and allowing third parties to cover transaction fees.  Paradigm Chief Technology Officer Georgios Konstatonopolous commented on X.  Even though Ethereums proposed update, EIP-3074, has garnered significant support for its potential to enhance wallet usability, it has also been met with skepticism within some sections of the Ethereum community.  Certain community participants are expressing doubts regarding the security implications of permitting smart contracts to manage transactions for EOAs. In addition, industry leaders have cautioned that the proposal would allow batch transactions.  Lukas Schor,

2024-05-07Ethereum

Ang mga awtoridad sa buwis sa Australia ay humihiling ng data ng kliyente mula sa mga palitan ng crypto

crypto  Ang mga awtoridad sa buwis sa Australia ay humihiling ng data ng kliyente mula sa mga palitan ng crypto  Balita ng Ethereum ng Bitcoin  The Australian Taxation Office (ATO) has recently requested personal data and transaction information from cryptocurrency exchanges, potentially involving up to 1.2 million accounts. This move aims to tighten enforcement against individuals who might be neglecting their tax obligations amidst the growing allure of digital tokens.  According to a notice issued by the ATO last month, the data is intended to assist in identifying traders who have not reported their crypto exchanges or the use of digital currency for purchases of goods and services. The ATO acknowledges the intricate nature of the crypto industry, which can contribute to a genuine lack of awareness regarding tax responsibilities.  The ATO highlighted concerns about the potential for individuals to exploit the anonymity of cryptocurrency transactions to evade tax obligations. It emphasized that the ease of purchasing crypto assets with false information could make them appealing to those seeking to circumvent tax laws.  What personal information does Australia want?  The information being sought includes personal details such as date of birth, phone numbers, and social media accounts, as well as transaction specifics like bank accounts, wallet addresses,

2024-05-07Industriya

Hedge Funds and Solana (SOL) & Ethereum (ETH) Investors See Kelexo (KLXO) as a 20X Opportunity in Revolutionary Stage 2 Presale

Ethereum  Hedge Funds and Solana (SOL) & Ethereum (ETH) Investors See Kelexo (KLXO) as a 20X Opportunity in Revolutionary Stage 2 Presale  Balita ng Ethereum ng Bitcoin  The ever-expanding realm of cryptocurrency investment continues to churn out innovative projects attracting both hedge funds and individual investors. Among these rising stars is Kelexo (KLXO), a revolutionary DeFi lending platform currently in its Stage 2 presale. Solana (SOL) and Ethereum (ETH) enthusiasts, in particular, have identified Kelexo (KLXO) as a potential goldmine, brimming with the potential for explosive growth. Lets delve deeper into the allure of the Kelexo (KLXO) Stage 2 presale and explore the factors driving excitement within the cryptocurrency community.  Hedge Funds and Solana (SOL) & Ethereum (ETH) Investors Enthusiasts Unite  The convergence of hedge fund interest and widespread adoption within the Solana (SOL) and Ethereum (ETH) communities creates a perfect storm for Kelexo (KLXO) growth. With the backing of these influential groups, the platform is poised to experience significant user acquisition and potentially redefine the landscape of DeFi lending. Kelexo (KLXO) Stage 2 presale presents a unique opportunity for investors to join this groundbreaking project on the ground floor, potentially reaping substantial rewards as the platform matures and expands its reach.  Pagsusuri ng Presyo ng

2024-05-07Ethereum

Why Ethereum (ETH) Must Not Fall Below $3,000 Again

Mga Aktibong Deposito ng Ethereum. Pinagmulan: Santiment  Furthermore, the HODLing of ETH has also grown, with the supply moving from short-term to mid-term holders. HODL waves show that wallets holding ETH for one month to a year have noted a 2.3% increase in their supply over the past month.  Moreover, addresses holding ETH for a period of one week to a month have witnessed outflows amounting to 2.2% of the circulating ETH supply. This is evidence that the ETH has moved from potential sellers to HODLers, who tend to avoid immediate dumping.  This decline in short-term holders‘ dominance proves that investors’ conviction is noting a considerable increase.  Ethereum HDOL Waves. Source: GlassnodeETH Price Prediction: $3,000 Holds  Ethereums price is hovering above the key support level of $3,000, coinciding with the 23.6% Fibonacci Retracement. The 23.6% Fib level is known to be the critical support level, and losing it diminishes the potential for recovery. Thus, keeping above $3,000 is crucial for ETH, and it is the probable outcome given the support of its investors.  If the bullishness sustains, Ethereums price could breach the 38.2% Fib level. Securing this support would enable ETH to attempt to breach the resistance block between $3,582 and $3,829.  Pagsusuri ng Presyo ng Ethereum.

2024-05-07Ethereum

MakerDAOs MKR Sell-Off Hits $31.2M Amid Token Expansion Plans

Recent reports have revealed a significant sell-off of MakerDAOs MKR tokens, totaling a substantial $31.2 million. This development comes at a pivotal moment for MakerDAO as it prepares to introduce two new tokens, NewStable (NST) and NewGovToken (NGT), aimed at enhancing stability and governance within its platform.  The news surfaced from Spot On Chain, a crypto analytics platform, where they highlighted the continuous depositing of MKR tokens to centralized exchanges (CEX). The tweet pointed out that a multisign wallet, likely belonging to MakerDAO, had deposited a significant amount of MKR tokens to Binance.  Since March 18, 2024, the wallet has deposited a total of 11,993 MKR tokens, with the most recent deposit amounting to 750 MKR tokens valued at $2.19 million. While the total deposit amount reached $31.2 million, the wallet still holds a significant amount of MKR tokens. Spot On Chain reported that the current holding of the wallet stands at 18,978 MKR tokens, equivalent to $55.2 million.  Strategic Token Expansion Plans  This flurry of sell-offs coincides with MakerDAO‘s plans to introduce two new tokens, NST and NGT, into its ecosystem. NST represents an upgraded version of Dai, MakerDAO’s flagship stablecoin, promising enhanced stability features for broader adoption. Meanwhile, NGT heralds a revamped

2024-05-07Industriya

SEC signals enforcement action to Robinhood amid crypto controversy

SEC signals enforcement action to Robinhood amid crypto controversy  Robinhood is under the scrutiny of a regulatory agency – the SEC – due to its cryptocurrency operations. The SEC staff made the representatives a Wells Notice, which disclosed a preliminary decision to suggest enforcement proceedings against RHC due to allegations of violating the 15(a) and 17A of the Securities Exchange Act of 1934.  SECs investigation and a wells notice  Robinhood has been in the SECs investigative spotlight, precisely over its cryptocurrency offerings, the custody of these assets, and its general operation. SEC has now made it clear among themselves that RHC is to be scrutinized as an enforcement of a case. These prescribed measures could entail civil injunctive measures and administrative procedures, including restraining orders, fines, and cease and desist orders, depending on remedies like restraining orders, sanctions, and limitations.  SEC on how Robinhood chooses to disperse information through its investor relations website and newsroom, which seems to be violating SEC regulations against unfair disclosure. This disagreement between the two actors reveals a bigger problem the cryptocurrency market has to address: the ever-changing regulatory environment that makes it hard for the sector to adapt.  tugon ni Robinhood  Dan Gallagher, Robinhood‘s Chief Legal, Compliance, and Corporate Affairs

2024-05-07Industriya

The Weekly Re-Org: Finishing Satoshis Work

A little under a year ago, I inihayag sa Twitter the idea of the Bitcoin Script Project. To say it was well received would be an understatement. Bitcoiners were craving something they could hang onto in the middle of the bear. Glimmers of hope were on the horizon and I intended to magnify those and hopefully rally the industry around a new technological narrative. Unfortunately, life had other plans and, to make a long story short, I quickly realized I bit off more than I could chew at the time.  The Bitcoin Script Project never saw the light of the day. At best, it was a short-lived social awareness campaign. It seeded some ideas and moved the conversation forward. At the very least, it‘s probably why I have the privilege of working on this column today. I bring this up because my experience is no different than the one of hundreds of individual who have tried to leave their mark on Bitcoin. It’s a humbling and thankless affair. Bruised egos are commonplace. Many have left far more blood, sweat, and tears than I have on this front.  Every once in a while though, stars align and our collective actions start transcending each

2024-05-07Industriya

BlockDAG’s Vesting Plan vs Ethereum DropCoin Edition

Ethereum Drops Amid Declining Prices  Despite the continuous Ethereum drop below $3,000, resulting from a 3% decrease in the last 24 hours, the influx of new wallets suggests a perplexing optimism among new investors. This recent Ethereum drop marks the steepest network expansion since October 2022, raising questions about the sustainability of such enthusiasm in the face of declining prices.  While retail investors are scooping up smaller amounts of ETH, larger investors‘ noticeable reduction in holdings could signal waning confidence among seasoned stakeholders. This scenario underscores a concerning trend: although the Ethereum drop hasn’t deterred new user onboarding, it might mask deeper market vulnerabilities, exacerbated by the allure of staking returns amidst a bearish backdrop.  Stacks (STX) Price Prediction Amid Market Volatility  The Stacks (STX) price prediction looks bearish as the token slides under $2, mirroring Bitcoins decline to below $60,000. Currently rebounding slightly to $2.14, STX is vulnerable to further drops, potentially breaking below $2.06 and approaching the 200-day moving average at just above $1.80.  This scenario reflects broader market trends, with negative Bitcoin ETF flows and persistent inflation concerns prompting a hawkish stance from the Fed. If STX falls 40% from its current level, its market cap could drop below $2 billion, highlighting

2024-05-06Ethereum
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