Ethereum: The Programmable Blockchain Platform
Ethereum is a decentralized blockchain platform that was created in 2015 by Vitalik Buterin. Ethereum is often referred to as the world computer because it enables developers to build decentralized applications (dApps) on top of its blockchain network.
Ethereum’s Shanghai Upgrade Will Permanently Alter ETH Economics
An Ethereum transformation is on the horizon, and no one is sure how the market will respond. In time the “Shanghai” upgrade may be remembered as a uniquely bullish event for ether (ETH), the world’s second-largest cryptocurrency by market value.
Bitcoin Dominance Reaches 45% Amid Price Surge and Regulatory Uncertainty
Bitcoin's dominance has reached 45%, its highest level since May 2021, as the cryptocurrency's price has surged 82% since the beginning of January. This increase in dominance is unusual as it typically rises when other crypto prices decrease. Digital asset investment products saw inflows totaling $57 million last week, with bitcoin representing 98% of those inflows.
ETH Lags BTC Ahead of Major Upgrade
Volumes have increased recently, with Tether Gold commanding the majority of volumes, bucking the previous dominance of Pax Gold. Tether Gold jumped from just a 1% market share of volumes to 85% of volumes last week in what looks to be methodical transactions.
a16z Crypto Releases Open-Source Tools for Developers in the Crypto Ecosystem
The engineering team at a16z crypto has released a set of open-source tools for developers, builders, and users in the crypto ecosystem.
Ethereum Is Burning ETH at a Rate of $5.5 Billion per Year As Shapella Upgrade Approaches
According to reports, Ethereum is burning ether at a rate of $5.5 billion per year, ahead of the high-profile "Shapella" upgrade. Ethereum began burning ether 613 days ago when it implemented EIP-1559, which burns a portion of fees generated through transactions. However, the blockchain's total supply hasn't decreased, as the total supply of ether has increased by 3.23 million coins since EIP-1559 went live. The ether supply began to shrink after Ethereum implemented its high-profile switch from proof-of-work to proof-of-stake consensus mechanism, known as "The Merge." Since The Merge took place 208 days ago, the total supply of ether has dropped by 82,924 coins.
Bitcoin Climbs Past $30K, Ethereum Approaches $2K
Bitcoin (BTC) surpassed $30,000 on April 11, its highest point since June 2022, and was trading at $30,073 with a market cap of $581.7 billion. Ethereum (ETH) gained 3.1% over the past day to trade at $1,917 with a market cap of $230.9 billion ahead of the Shanghai upgrade scheduled for April 12, which is expected to create selling pressure on ETH. The total crypto market cap rose over 4% to $1.24 trillion, and the total crypto market trading volume reached $47.26 billion. Solana (SOL) recorded the highest gains, rising 9.66% over the past day, while BNB, Cardano, and XRP prices climbed by 4% or more over the past 24 hours. The rise in crypto prices comes ahead of key inflation data due to be released later this week, with traders hoping for a pause in Fed interest rate hikes to boost crypto prices further.
Cointime News Wrapup-Afternoon: China's Douyin Displays Bitcoin Prices in Search Results, as Hong Kong Shows Support for Web3 Ecosystem
Afternoon version
Ethereum Shanghai Upgrade Unlocks US$34 Billion in Ether, What Does it Mean for Crypto Prices?
Ethereum is set to upgrade the software network on Wednesday with new features and improvements to efficiency, cost, and security. The main feature of the upgrade is the EIP-4895, which allows users to withdraw their staked Ether, or tokens deposited to support the operations of a blockchain in return for a passive income, usually in the form of more tokens. With about 18 million Ether – or about 15% of the total supply – staked into the network, concerns emerged that holders could rush to sell Ether to lock in profits, which would drive prices lower. However, on-chain data provider CryptoQuant doesn’t expect a flood of Ether sales. Other benefits of the upgrade include Ethereum’s capacity to handle more transactions per second, decreased transaction costs, and improved security and efficiency of smart contracts. The staking landscape will be transformed, and Ethereum will become the benchmark yield for crypto. (forkast)
Web3 Transactions Startup Fire Raises $3.5 Million from Atomic to Make Web3 Safer and Simpler
Fire is a free extension that simulates web3 transactions, a startup focused on making web3 safer and simpler, has raised $3.5 million in funding from Atomic.
