What Is the Ethereum Virtual Machine
As the world’s most popular blockchain for smart contracts, Ethereum owes much of its success to the Ethereum Virtual Machine (EVM).
Crypto Evening Briefing: Ethereum Gas Fee Jumped Due to Memecoin Frenzy With Mixed Comments on Network Usability
Ethereum's gas fees have reached a new multi-month high due to a growing memecoin frenzy, resulting in a surge in daily revenue for the network.
ApeCoin Community Approves $1M Donation to Ethereum Development
The ApeCoin community has donated $1 million to support the ongoing development of the Ethereum blockchain. The community-led initiative, titled "I don't hate apes, I just want them to fund public goods," received a majority of votes in favor of the donation. ApeCoin is a cryptocurrency linked to the Bored Ape Yacht Club, a collection of unique digital ape NFTs. The proposal includes donating $300,000 to ETHGlobal and allocating the remaining $700,000 towards organizing 11 ApeCoin hackathons and supporting at least five public good initiatives. The proposer of the donation, ex-ApeCoin special council member Maariab, stated that Ethereum benefits from shared responsibility and collective appreciation, and the ApeCoin community should support the ecosystem.
Ethereum Gas Fee Jumped Due to Memecoin Frenzy With Mixed Comments on Network Usability
Ethereum's gas fees have reached a new multi-month high due to a growing memecoin frenzy, resulting in a surge in daily revenue for the network. However, the high fees have also caused congestion and difficulties processing transactions. Memecoins such as TROLL, APED, and BOBO have become top gas spenders, replacing ETH, WETH, and USDT. The surge in daily fee revenue for Ethereum, which is 28 times that of Bitcoin, has highlighted the network's growing usability, according to Ethereum proponents. However, some have pointed out that the extensive usage is limited to a few thousand users gambling on memecoins. The soaring gas fees have been blamed on a Maximal Extractable Value (MEV) trading bot called jaredfromsubway.eth, which has been front-running memecoin trades on a massive scale using the sandwich trading technique, pocketing millions of dollars while congesting the network.
How To Configure Ethereum Node?
A node in Ethereum consists of two components: execution client and consensus client.
Societe Generale Launches Euro-Pegged Stablecoin on Ethereum
Societe Generale-Forge (SG-Forge), the digital asset arm of French banking and financial services firm Societe Generale, has launched a euro-pegged stablecoin called EUR CoinVertible. The stablecoin is only available to institutional qualified investors through eligible market platforms and has been designed to bridge the gap between traditional capital markets and the digital assets ecosystem. SG-Forge said that the stablecoin complies with major market standards and has been developed in line with the upcoming European digital assets regulations known as the Markets in Crypto-Assets framework. The firm hopes that stablecoins built under a banking-grade structure will increase trust and confidence in the native crypto ecosystem.
Ethereum (ETH) Price Drops Under $2,000 As Dormant Whales Dump
The price of Ethereum (ETH) has dropped below $2,000 amid a significant sell-off in the broader cryptocurrency market. As of press time, Ethereum is trading down 6.30% at $1,955, with a market cap of $233 billion. This recent development is attributed to dormant Ethereum whales who had purchased a large amount of supply in 2018 and dumped the entire 150,000 ETH on April 18.
Ethereum Price Drops Under $2,000 As Dormant Whales Dump, Here’s Why It Can Recover Fast
The Ethereum (ETH) price has fallen below $2,000 due to a massive whale dump by dormant Ethereum whales who purchased a massive supply in 2018. However, on-chain data provider Santiment believes that the recent ETH price drop won't last long, and there's a high chance that the ETH price may recover back to $2,000 and more. Santiment reports that when dormant assets move, they can indicate major price shifts, usually in a positive direction. The mean dollar invested age has also been moving downwards over the last week, which is historically better for a bull setup. The recent dump of 150K ETH isn't a terrible sign as each address has made just one large accumulation. Ethereum has delivered a solid performance this year, with the ETH price up by 70% year-to-date. (coingape)
Blockchain & The Current Inflation
Inflation is a phenomenon that affects the purchasing power of money. It occurs when the general level of prices for goods and services rises over time, reducing the value of each unit of currency. Inflation can have various causes, such as excessive money supply, rising demand, supply shocks, or government policies.
Bitcoin, Ethereum Technical Analysis: BTC Nears Breakout Below $29,000 on Wednesday
Bitcoin fell to a one-week low on Apr. 19, as markets moved into consolidation following a recent bull run. Following today’s red wave, prices neared a breakout below the $29,000 level earlier in the session. Ethereum also declined, falling below $2,000.
