Crypto and Asian Markets Strong as White House Averts Debt Ceiling Crisis, China's Web3 Policy Outlined in Whitepaper
Bitcoin and Ethereum prices have surged by 5.2% and 4.9%, respectively, following the White House's announcement of a deal to avoid a debt ceiling crisis. The CoinDesk Market Index (CMI) has also risen by 4% to 1,209, while the Nikkei 225 in Japan and Australia's ASX 200 have opened strongly on the news.
Detecting Financial Crime in Ethereum's DeFi Ecosystem through Staking Rewards
Ethereum has switched to a proof-of-stake blockchain after its Merge event in September, with validators staking their Ether to confirm transactions. The Shanghai upgrade in March allowed stakers to withdraw their locked Ether and introduced fixed-income assets to the network.
Opensea and Uniswap lead Ethereum's staggering $6.1 billion burn rate
Since the implementation of Ethereum Improvement Proposal (EIP) 1559, Ethereum's London hard fork has burned over 3.33 million ether, valued at $6.1 billion, in the past 21 months. The burn rate is currently around 3.51 ether per minute, with OpenSea contributing to the destruction of 230,050 ETH since August 5, 2021. The primary driver of this burning is traditional transfers of ether, with conventional ether transactions alone resulting in the destruction of 285,576 ether. Other notable contributors include Uniswap v2 and Tether's ERC20 transactions. The burning phenomenon demonstrates the significant economic activity and transformative power of decentralized finance, which will likely continue as Ethereum evolves and undergoes further upgrades.
Ethereum Layer Two Data Fees Reach All-Time High, Arbitrum Leads Market Share
The usage of layer two (L2) solutions on the Ethereum blockchain has led to a surge in data fees, with Arbitrum being the most popular L2 project. Optimistic rollups have contributed more to Arbitrum's market share than zero-knowledge (ZK) rollups. While zkSync has gained a significant portion of the fees, Polygon's zkEVM has lost market share and has a lower total value locked (TVL) performance compared to its competitors. Adpushup triggers for two different ads are included in the code, with unique identifiers, and are queued for later execution. The adpushup object is defined as a window property and will use the existing object if it already exists.
Crypto Analyst Says Ethereum Is Facing a "Moment of Truth" as Bitcoin's Next Move Hangs in the Balance
Crypto analyst Justin Bennett, who has a large following on Twitter, believes that Ethereum is at a critical point and a sustained break above $1,835 could lead to a rise to $1,890 next week. Meanwhile, Bitcoin is also facing an important moment as bulls attempt to recapture the $26,500-$26,700 area. Bennett says that today's close will be crucial for Bitcoin, and if it can retest the $26,500-$26,700 levels, it will move back to support. However, if it fails to do so, BTC could head towards $25,000.
JPMorgan Predicts Bitcoin Could Reach $45,000 Due to Rising Gold Prices and Halving Event
JPMorgan strategists predict that Bitcoin could reach its former trading price of $45,000 due to the rising price of gold, as Bitcoin and gold have often been regarded as alternative investments by investors. The current surge in Bitcoin's price comes after a fall that dropped its price below its previously ranging market price of $28,000. JPMorgan highlights the bullish trajectory observed during previous halving events in 2016 and 2020, indicating the potential for a similar outcome following the next halving. However, the bank suggests that Ethereum may face some selling pressure in the near term, extending beyond the Shanghai upgrade until mid-year.
Bitcoin, Ethereum, XRP, Cardano, and Binance Coin Experience Growth in Last 24 Hours
According to Coinmarketcap rankings, buyers have returned to the market. Bitcoin's price has increased by 1.67% in the last 24 hours and is continuing its upward trend. Ethereum is also following Bitcoin's growth, with its rate accumulating strength after retesting support at $1,737. XRP has outperformed both Bitcoin and Ethereum, with its rate slowly moving closer to the $0.4854 resistance on the daily time frame. Cardano was the least gainer, with its rate increasing by only 0.87%.
Ethereum Balance On Crypto Exchanges Fell 5-Yr Low
Investors are withdrawing more Ethereum (ETH) from crypto exchanges than depositing, resulting in a five-year low balance of ETH on exchanges. The increase in ETH staking after the Shanghai upgrade on April 12 is the reason behind this trend. The decline in the total amount of ETH held on exchanges to almost 16 million, the lowest level since July 2018, suggests a potentially bullish momentum for the cryptocurrency due to less selling pressure. Additionally, the upgrade has brought stability, leading to lower volatility and trading volumes for ETH price.
Gas Optimization Techniques for Smart Contract Development on Ethereum Blockchain
Efficient and cost-effective smart contract development on the Ethereum blockchain requires optimizing gas usage. Solidity, the programming language used for Ethereum smart contracts, offers various gas optimization techniques such as careful contract design, data storage, and code execution. By implementing these strategies, developers can significantly improve the performance and cost-effectiveness of their smart contracts.
Ethereum Price Recovery Hindered, Needs to Clear $1,820 for Decent Rise
The price of Ethereum has seen a recovery wave above $1,780 against the US Dollar, but needs to clear the $1,820 level to start a decent rise in the near term. Currently, Ethereum is consolidating below the $1,820 resistance area and trading below the 100 hourly simple moving average. A major bearish trend line is forming with resistance near $1,818 on the hourly chart of ETH/USD, and the pair could start a decent rise if there is consolidation above the $1,820 resistance. However, if Ethereum fails to surpass the $1,820 resistance, it could start another bearish wave, with an initial support near the $1,785 level.
