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In a daring forecast, the co-founders of the well-known cryptocurrency analytics firm Glassnode, operating under the X account Negentropic, have predicted that Solana (SOL) could surpass Ethereum (ETH) by an impressive 500%. Jan Happel and Yann Allemann, the masterminds behind Glassnode, conveyed their positive outlook on Solana ’s potential to outperform Ethereum. They drew inspiration from a recent interview featuring macroeconomist Henrik Zeberg and Global Macroinvestor CEO Raoul Pal. Positive Projections for Solana The optimistic perspective on Solana from Glassnode’s founders emerged during a discussion regarding the potential for a substantial rally in the SOL/ETH chart. In an interview exploring risk-adjusted returns, the co-founders were asked about their preferences for a $10,000 investment over 12 months. This came with a focus on Ethereum and Solana. Pal and Zeberg, after analyzing Solana’s recent performance trend, expressed confidence in its signific...

The security platform released a report categorizing Web3 exploits in 2022, concluding that nearly half came from “infrastructure” or centralized elements. A new report from blockchain security platform Immunefi suggests that nearly half of all crypto lost from Web3 exploits is due to Web2 security issues such as leaked private keys. The report, released on November 15, looked back at the history of crypto exploits in 2022, categorizing them into different types of vulnerabilities. It concluded that a full 46.48% of the crypto lost from exploits in 2022 was not from smart contract flaws but was rather from “infrastructure weaknesses” or issues with the developing firm’s computer systems. Categories of Web3 vulnerabilities. Source: Immunefi. When considering the number of incidents instead of the value of crypto lost, Web2 vulnerabilities were a smaller portion of the total at 26.56%, although they were still the second-largest category. Immunefi’s report excluded exit scams or...

The US Securities and Exchange Commission (SEC) is expected to approve the creation of an Ethereum Futures ETF by October of this year. Indeed, there are currently almost 12 applications that have been submitted. Subsequently, a positive decision could arrive in just a few months.  Bloomberg reported that the decision would be imminent and would undoubtedly have a positive effect on the market. Specifically, the report noted that the regulator is expected to deny the applications of nearly a dozen companies. Among them are ProShares, Bitwise, and Valkyrie.  Source: CoinLive Also Read: Valkyrie Files for an Ether Futures ETF with SEC Ethereum Futures ETF Approval Expected by SEC The rise of exchange-traded funds in the digital asset space in the past few months has been a notable development. Spot Bitcoin ETF applications have seemingly run rampant among a host of companies. Among them are traditional finance entities as well as digital asset firms.  Now, the ...

Ethereum co -founder , Vitalik Buterin, has lauded X’s new Community Notes feature, highlighting its alignment with core blockchain values despite its non- crypto currency origins. In December 2022, the social media giant formerly known as Twitter, now X, launched Community Notes. Since then, it has steadily grown in prominence, establishing itself as a cornerstone tool for the platform. Open-source in nature, Community Notes allows anyone to participate as a contributor. Though still recognized as being in its developmental pilot phase, the feature plays a central role in a burgeoning community dedicated to identifying and correcting misinformation on the microblogging platform. What do I think about Community Notes?https://t.co/9A0PnanndM — vitalik.eth (@VitalikButerin) August 16, 2023 Vitalik Buterin remarked on the striking parallels between the tool and some blockchain projects. He praised its decentralized essence, the emphasis on community engagement, and its t...

With the global crypto market cap consolidating around $1.15 trillion, Ether’s price has been hovering around $1800 over the past week. As a result, the market is neither greedy nor fearful. At press time, the Ethereum F&G Index flashed a neutral reading of 46. From the beginning of 2023 until now, Ethereum’s realized price has consistently hovered between $1,500 and $1,600. At press time, it was on the brink of $1700 . The realized price is technically one of the most reliable on-chain Analysis metrics. The price is arrived at by dividing the sum of all coin values at the time when they were last moved by the circulating supply. Usually, the realized price has acted as a support during bear markets. On the other hand, whenever the market price has dropped below the realized price, it has swiftly bounced back, suggesting the market sees Ethereum as undervalued during those moments. Consequentially, this resilience indicates an underlying confidence in Ethereum’...

Proponents say PayPal’s PYUSD could see Ethereum become the money layer of the internet, while opponents argue that it’ll act like a poorly designed CBDC. Paypal’s new Ethereum-based stablecoin, PYUSD has been seen as bittersweet news for the crypto community . While it could finally see Ethereum find its place in mainstream adoption, it could also spell trouble for de central ization and personal control of assets, warns the community . The new stablecoin, Paypal USD, was launched on Aug. 7 and is issued by Paxos Trust Co. — the firm behind Binance USD (BUSD). It’s built on Ethereum and “designed for digital payments and Web3,” with the firm saying it will soon be available to United States customers. The launch has been seen as a boon for Ethereum adoption. Ethereum bulls Anthony Sassano and Ryan Sean Adams believe the ERC-20 stablecoin will push the blockchain closer towards becoming the money layer of the internet. This is the Ethereum contract address for PayPal's stablecoin....

Attorney Deaton has called on crypto community members to re-evaluate Sygnum Bank’s recommendation about investing in Bitcoin, Ethereum, and XRP. Crypto-Law.US founder Attorney John Deaton has called on the crypto community to re-evaluate Sygnum Bank’s recommendation about investing in Bitcoin (BTC), Ethereum (ETH), and XRP. In a February 2021 tweet, Attorney Deaton noted that Sygnum Bank’s Head of Management urged the public to increase their exposure to “tokens of the future.” According to Deaton, the bank listed the top three assets at the time- BTC, ETH, and XRP – as the tokens of the future. He noted that the Sygnum Bank exec described Bitcoin as the future asset for the store of value and wealth. Additionally, the bank classified Ethereum as the future asset for “infrastructure play.” Lastly, Sygnum described XRP as the technology of the future for payments. Two years after his tweet, Attorney Deaton asked crypto enthusiasts to state whether the bank was right ...

According to cLabs, the Celo transition would include leveraging OP Stack as the architecture to become an Ethereum L2 blockchain. CLabs, the organization responsible for developing the Celo blockchain, is seeking to return to the Ethereum ecosystem by transitioning from an independent EVM-compatible layer-1 blockchain to an Ethereum layer-2 solution.  According to a proposal discussion on Celo's governance forum, the transition would include leveraging OP Stack as the architecture to become an Ethereum L2 blockchain, eliminating the need to monitor tooling and libraries composability through upgrades, thus "making it easy for Celo developers to utilize the full gambit of Ethereum tooling/libraries." Other key differentiating factors would include an off-chain data availability layer operated by Ethereum node operators and protected by restaked Ether (ETH), along with transforming current validators into decentralized sequencers for L2. Layer-1 and Layer-2 blockchains d...

The first increase in trading volume in months was driven by market volatility following the SEC's lawsuits against Binance and Coinbase, as well as improving sentiment via BlackRock's ETF filing. The combined spot and derivatives trading volume on centralized exchanges (CEXs) climbed 14.2% in June to $2.71 trillion, according to CCData's monthly exchange report. Binance, Binance.US, and Coinbase all saw their market share decline in the past month. As per the report, the first rise in trading volume in three months was backed by BlackRock's exchange-traded fund (ETF) filing and regulators' complaints against crypto exchanges Binance and Coinbase in the United States. Binance saw a surge in withdrawals following the Securities and Exchange Commission (SEC) lawsuit on June 5. As a result, its market share dropped the most among CEXs, by 1.40% to 41.6%, while Binance.US saw a marginal share decline of 0.86% to 0.36%. Coinbase's market share declined the least a...

Positive Ethereum and Arbitrum network developments and the eventual improvement in crypto investor sentiment could lend a boost to ARB price. While Arbitrum’s governance token ARB has been in a consistent downturn since the airdrop in late March, its ecosystem shows healthy growth.  A recent Nansen report shows that Arbitrum’s activity improved after the airdrop, stabilizing “at a level higher” than before the airdrop. The daily active users, gas fees and transaction count maintained consistent higher levels on the Ethereum rollup since April 2023. The gap between the number of active users on Arbitrum and Optimism widened after the Aribtrum airdrop, closing in on Ethereum. Daily Active Users of Arbitrum, Ethereum and Optimism (past 6 months). Source: Nansen The trading volume on Arbitrum-based decentralized exchanges paint a similar picture, showing an evident rise in volume after the airdrop. The trading volume of DEXes on Arbitrum. Source: DeFiLlama Moreover, Nansen’s report sh...

Crypto Liquidation Breaches $162 Mln Coinglass data depicts that more than 46K traders were liquidated in the last 24 hours, while, the total liquidations recorded stands at around $162.2 million. However, the single largest liquidations order of ETHUSDT valued at $11.57 million was registered on the Binance crypto exchange. advertisement It is important to note that $142.4 million, 87% of the total liquidation over the last 24 hours turned out to be long positions set by the traders. This suggests that the traders were betting on an upward movement in the crypto market. However, Ethereum (ETH) recorded the most of the liquidation (approx worth $60.5 million). Bitcoin (BTC) price declined by more than 4% in the last 24 hours as the biggest crypto dropped below the crucial $25K level. Bitcoin is trading at an average price of $24,856, at the press time. BTC dominance decreased to stand around 47.57%. Recommended Articles ...

Also Read: Cardano Whales Scoops 560 Million ADA; Something Big Coming Up? $34 Billion Worth Of Ethereum Locked In The cryptocurrency market is in a recovery phase for now. However, it is expected that the traders affected by the recent market downturn might seize the opportunity to withdraw their staked tokens. IntoTheBlock reported that the Shapella fork will enable Ethereum staked to be withdrawn by validators. This will allow $34 billion worth of locked ETH to enter the market. It mentioned that withdrawals of staked ETH will see a delay to be processed in order to mitigate an exodus and worse security for Ethereum. Read More Ethereum News Here… Also Read: Binance Futures Users Affected; CZ Replies Recommended Articles Crypto Presale Projects For 2023 To Invest; Updated List Must Read Best...

2023 has been the year of change so far. The crypto industry witnessed the focus shift from Bitcoin [BTC] to BRC-20 tokens and Shiba Inu [SHIB] to PEPE. Similarly, the primary focus of the Ethereum [ ETH ] network seems to be limited to staking at the moment. Ethereum has propelled staking to the forefront of the crypto industry. As a result of this growing interest in staking, there has been a notable drop in the overall supply of ETH held on exchanges. According to recent data, the percentage of Ethereum’s supply on exchanges has reached 14%, marking the lowest level in seven years since July 2016. Source The current data suggested that about 16.04% of the total Ethereum supply is currently being staked. As reported by OKLink, the current staked amount of ETH stands at around 19.29 million. Since the Shanghai upgrade, only 3 million ETH have been unstaked. This indicated that most of the ETH has remained locked in the network. The decrease in the Ethereum balance ...

Moreover, total ETH deposits post-Shanghai upgrade is 6 million ETH, while total withdrawals accounts for only 3 million, as per Nansen deposit contract data. advertisement ETH Balance on Deposit Contract. Source: Etherscan Moreover, Ethereum (ETH) balance on the crypto exchanges has reached a new five-year low. CryptoQuant data indicates that the total amount of ETH held in crypto exchanges dropped to critical levels. ETH on exchanges now stands at almost 16 million, reaching levels not recorded since July 2018. In fact, it has declined 50% since the all-time high. Interestingly, Nansen data indicates ETH locked has also reached an all-time high of 22.4 million. ETH locked means all ETH that is out of circulation, it includes ETH staked on the Beacon Chain, ETH deposited to the Beacon contract but not validating yet, and rewards on the Beacon chain. Typically, an increase in the amount of ETH locked and staking led to a decrease in the overall supply ...