Lodestar Proposals for next Electra/Cancun Fork
With the implementation of Deneb/Cancun almost complete, client teams were asked to provide suggestions on inclusions to the next Electra/Cancun hard fork. This blog post is to outline the combined consensus of Lodestar’s main contributors, inspired by the writings of Paradigm’s Reth team and commendation of this method at AllCoreDevs Execution Meeting 179.
On Block Sizes, Gas Limits and Scalability
There has been much discussion about raising Ethereum’s block gas limit recently.Some argue for bigger blocks based on Moore’s law, some based on a personal gut feeling, some are just trolling around and others are afraid that other chains like Solana will outpace Ethereum when it comes to widespread user adoption.
Client diversity on Ethereum's consensus layer
Ethereum has multiple interoperable clients developed and maintained in different languages by independent teams. This is a major achievement and can provide resilience to the network by limiting the effects of a bug or attack to only the portion of the network running the affected client. However, this strength is only realized if users distribute roughly evenly across the available clients. At present, the vast majority of Ethereum nodes run a single client, inviting unnecessary risk to the network.
Ethereum moves back above $2,200
Aaccording to OKX market data, Ethereum rebounded above $2200 and is now priced at $2216.35, with a 24-hour decline narrowing to 6.48%.
Ethereum drops below $2,200
Ethereum fell below $2200 and is now trading at $2188.48, with a 24-hour drop of 8.48%. <br>
The ETH whale with a 100% winning rate since November sold 12,715 ETH
According to on-chain analyst @ai_9684xtpa, in the past two hours, an ETH whale with a 100% win rate since November sold 12,715 ETH (worth $28.25 million) at an average price of $2,221, resulting in a loss of $2.02 million. Currently, the whale still holds 7,001 ETH and has a Maker health score of 1.12.
ETH briefly broke through $2,400 and then fell back, down 3.16% in 24H
According to the market data from Eu Yi OKX, ETH fell after a short-term breakthrough of 2400 USDT, and is now reported at 2395.74 USDT, with a 24-hour decline of 3.16%.
Ethereum recovers and briefly breaks through $2,400
According to OKX market data, Ethereum rebounded and briefly broke through $2400, currently priced at $2396, with a 24-hour decline narrowing to 3.1%.
Ethereum Foundation Engages in Major ETH Swap as Price Falls Below $2,400
The Ethereum Foundation has reportedly swapped over $1.5 million worth of ETH for DAI stablecoin, selling 700 ETH on Cow Protocol and acquiring 1.68 million DAI tokens. This move comes as the price of Ethereum dropped below $2,400 and major ETH whale activity suggests a further sell-off. In the past five hours, ETH worth $122.15 million has been dumped across various exchanges, including Binance and Coinbase. Despite a short-term bearish downturn, ETH is trading above the 50-day and 100-day EMAs, indicating a bullish sentiment in the long term.
Nethermind fixes a critical bug in Ethereum client
The development company Nethermind has fixed a severe error in the Ethereum execution client that caused block processing failure for validators. According to the company's Technical Director, Daniel Cadela, the consensus error affected software versions 1.23 to 1.25. All node operators need to update to version 1.25.2. The error was first reported by GitHub user wga22, who stated that the Nethermind execution client had an error when verifying transactions. Although this event affected a small portion of Ethereum nodes, it sparked a new discussion about the network's dependency on large clients such as Geth.
Multiple whales accumulated a total of 26,841 ETH
According to Lookonchain monitoring, whales are accumulating ETH, with a total of 26,841 ETH (US$64.5 million). Address 0x55C1 withdrew 7,779 ETH (US$18.7 million) from Binance 2 hours ago. Addresses 0xDa17 and 0x278f (possibly the same person) withdrew 8,077 ETH (US$19.4 million) from Bitfinex. Address 0x5a11 withdrew 3,228 ETH (US$7.8 million) from Binance. 6 new wallets withdrew 7,756 ETH (US$18.7 million) from Binance and Kraken.
The Ethereum Foundation converted 700 ETH into DAI and transferred it to the 0x9eE address used to fund the disbursement of funds.
As monitored by on-chain analyst Yu Jin, half an hour ago, the Ethereum Foundation sold 700 ETH at a price of $2,406 and exchanged it for 1,684,445 DAI at the address used to fund the funding withdrawal. Path: Ethereum Foundation transferred ETH → 0xbC9 address → sold for DAI at 0xd77 address → used for funding withdrawal at address (0x9eE).
Ethereum briefly fell below $2,400, down 2.85% in 24 hours
According to OKX market data, Ethereum briefly fell below $2400, currently priced at $2404, with a 24-hour decline of 2.85%.
A certain whale sold 645 ETH an hour ago and has a remaining position of 20,841 ETH.
According to Chain Analysis analyst @ai_9684xtpa that in the past six hours, an ETH whale with a win rate of 100% since November has cumulatively purchased 2580 ETH (valued at $6.26 million) with an average cost of $2425. An hour ago, the whale sold 645 ETH at an average price of $2431. Currently, the address holds a total of 20,841 ETH (valued at $50.45 million), with an average purchase cost of $2380 and a floating profit of $850,000.
A giant whale withdrew 7,779 ETH from Binance 1 hour ago
According to Spot On Chain monitoring, a whale that has gained a total profit of $14.6 million from ETH has obtained more tokens during the recent downturn. One hour ago, the whale 0x55c withdrew 7,779 ETH ($18.9 million) from Binance at a price of about $2,430, close to the local bottom. It is worth noting that the whale deposited 9 million USDT into Binance 5 days ago.
Justin Sun has transferred approximately $60 million worth of crypto assets from Binance since December 18 last year
According to Lookonchain monitoring, Justin Sun has withdrawn $60 million worth of assets from Binance starting from December 18, 2023. The assets include: 17,433 ETH ($43 million); 68,999 AAVE ($6.7 million); 6.564 billion SHIB ($6.3 million); 61,249 LINK ($957,000); 27.16 billion FLOKI ($885,000); 1.7 million MANA ($826,000); and 100,100 BAND ($168,000).
Open interest in ETH contracts across the network dropped to $8.415 billion
Coinglass data shows that the total open position of ETH futures contracts on the entire network is 3.4035 million ETH, equivalent to $8.415 billion, with a 24-hour decrease of 3.32%.
The address associated with PulseChain pledged 2,607 ETH to Mantle 20 minutes ago, equivalent to approximately US$6.46 million.
20 minutes ago, the PulseChain related address pledged 2,607 ETH worth $6.46 million to Mantle, as monitored by @ai_9684xtpa. This part of the ETH was transferred multiple times from the PulseChain address nine months ago (April 13, 2023), with a cost basis of $1,917 and currently a floating profit of $1.45 million.
Ethereum Attestation Service EAS launches “Attestation Fellowship” builder program
Ethereum Attestation Service EAS has announced the establishment of the "Attestation Fellowship" builder program on X platform. The program lasts for 6 weeks, and selected teams can launch proof products, including knowledge tracing, reputation systems, data markets, content authenticity, voting systems, audit verification, mortgage loans, RWA verification, etc. Early founders or teams who have not yet received financing can submit applications before February 18th. About 10 teams will officially enter the program at the end of February. It is reported that the program does not provide direct investment and does not guarantee any investment from partners.
Galaxy researcher: The probability of Dencun being deployed on the Ethereum mainnet at the end of March is 60%
According to Christine Kim, a researcher at Galaxy, it is estimated that there is a 60% possibility of Dencun being deployed on the Ethereum mainnet by the end of March, given the enthusiasm of Ethereum core developers for its release after the Goerli fork this week. The possibility of the Ethereum mainnet upgrading earlier in late February is not high, at around 30%. In addition, if developers discover unexpected and serious errors during the Dencun upgrade in Sepolia or Holesky, it may still be postponed until April or later.
