Coinbase Cloud’s ‘Wallet as a Service’ Hits Ethereum Mainnet
Coinbase has launched a new version of its cloud product, called "Coinbase Wallet as a Service," which uses multi-party computation (MPC) and is now live on the Ethereum mainnet. The Web3 wallet solution allows end-users to explore without managing complicated recovery phrases, instead using just a username and password. The product enables various Web3 interactions through APIs and SDKs, including Coinbase's Pay SDK for purchasing digital assets and an API for integrating crypto-based payments. MPC solutions typically split the private key behind a wallet into several shards that can be split between multiple owners for safekeeping of their underlying digital assets.
Ethereum Co-Founder Vitalik Buterin Acknowledges Solana's Superiority in Scalability, Causing Temporary Price Uptrend
At a conference, Vitalik Buterin, co-founder of Ethereum, praised Solana as the most scalable blockchain, causing a buzz in the industry and suggesting that Solana may have an advantage over Ethereum in terms of scalability.
Ethereum Shows Potential for Reversal as Volatility and Trading Volume Decrease
Ethereum, the second-largest cryptocurrency by market capitalization, is showing signs of a potential reversal towards the $1,900 mark. Technical analysis indicates that the coin has found support at its current levels and with increasing buying pressure, a bullish trend could be on the horizon. Ethereum's price charts reveal a decline in volatility and trading volume, which often precedes trend reversals and signifies a market that is maturing and finding consensus among investors. However, recent data from CryptoQuant reveals a decline in staking inflows, suggesting a potential shift in investor behavior and contributing to the overall uncertainty surrounding Ethereum's short-term market outlook.
Ethereum Price Shows Positive Signs, Eyes Move Towards $1,920 Resistance
The price of Ethereum has surpassed the $1,840 resistance level against the US Dollar, indicating positive momentum and the possibility of reaching the $1,920 resistance level. Ethereum is currently trading above $1,820 and the 100-hourly Simple Moving Average, with a bullish trend line forming near $1,835 on the hourly chart of ETH/USD. If the price remains above the $1,835 and $1,820 support levels, it could continue to rise towards $2,040. However, if it fails to clear the $1,880 resistance level, it may experience a downside correction with initial support near $1,850.
Bloomberg：Ethereum's Volatility May Experience Smaller Near-Term Price Fluctuations Compared to Bitcoin
Ethereum has caught the attention of traders due to a shift in market dynamics, with volatility gauges indicating that Ether may experience smaller near-term price fluctuations compared to Bitcoin. This unexpected reversal has piqued the interest of investors who are closely monitoring the evolving landscape of cryptocurrencies. The T3 Ether Volatility Index has emerged as an indispensable tool for assessing and forecasting price volatility in the Ether market. The changing volatility of Ether has significant implications, including a potential reduction in risk aversion among investors and a need for market participants to adjust their risk management approaches and allocation of resources based on the evolving volatility landscape.
Bitcoin and Ethereum Volumes Dry Up Amid Price Struggles
Bitcoin and Ethereum are experiencing a decline in trading volume, according to on-chain data from Santiment. The combined trading volumes of BTC and ETH are currently at their lowest level in over a year, with altcoin volume also drying up.
Ethereum Restaking Could Hurt The Network, Warns Vitalik Buterin
Ethereum founder Vitalik Buterin has expressed concerns about restaking and other ventures that could overcomplicate the platform's consensus mechanism. Restaking allows users to stake assets they receive in exchange for staking ETH on platforms like Lido, but Buterin warned that it could overload Ethereum's consensus mechanism and compromise the network's security.
Ethereum On-Chain Stablecoin Trading Volume Set to be Lowest Since December 2020 Amid Memecoin Frenzy Disruption
The recent memecoin craze has had a ripple effect on Ethereum's on-chain stablecoin trading, with trading volume for USDC on track to be the lowest since December 2020. The Block's data shows that USDC trading has only reached $73.1 billion this month, less than half of April's $158.9 billion.
Ethereum's Beacon Chain Sees Significant Inflows Despite Initial Predictions of Outflows Following Shanghai Upgrade
Since staking withdrawals were enabled on April 12th, over $7.7 billion worth of Ethereum has been deposited into Ethereum's (ETH) Beacon Chain, which is a core component of Ethereum 2.0.
Anonymous Ethereum Investor Makes $688K Profit in Less Than 48 Hours with Strategic Trading Move
An anonymous Ethereum investor has made a profit of $688,000 in less than two days through a strategic crypto maneuver. The investor purchased 20.7 billion RefundCoin (RFD), a recently-introduced Ethereum-based meme coin, using 55 ETH ($100,000) and sold off their entire RFD holdings today for 435 ETH ($788,000).
