Inventor of Ethereum’s ERC-20 Token Standard Plans New Blockchain ‘LUKSO’ for Creative Types
Fabian Vogelsteller, an Ethereum veteran who helped the invention of ERC-20 in the early days, is taking on a new venture – a blockchain to succeed where he says others have failed, in catering to creative, fashion-oriented and art-world types.
Ethereum Price Turns Bullish Ahead of Next Week’s Shanghai and Capella Upgrade
With one week to go until the Ethereum (ETH) Shanghai and Capella upgrades on April 12, all eyes are on Ether. The second largest cryptocurrency by market capitalization shrugged off rumors and regulatory action against exchanges to hit a 7-month high of $1,922 on April 5.
Ethereum Projects Unite To Protect Users From MEV-Induced High Prices
Over 27 prominent Ethereum projects joined hands to launch MEV Blocker, a solution that aims to tackle and minimize the amount of value extracted from their users, a.k.a maximally extractable value (MEV) — Ethereum’s invisible tax.
Ethereum Breaks $1,900 As Sharks Continue Accumulation
Ethereum has broken the $1,900 mark as on-chain data shows that "sharks" have been accumulating more of the asset. According to data from on-chain analytics firm Santiment, the sharks have been constantly adding to their holdings since last summer. The sharks are entities that hold at least 100 and at most 10,000 ETH, worth approximately $191,000 at the lower bound and $19,100,000 at the upper end. The Ethereum Supply Distribution of the sharks has been riding an uptrend for quite a while now, with these investors accumulating a total of 2.27 million ETH, about $4.3 billion at the current price, in the last nine months. Generally, accumulation from the sharks can be a bullish sign for the price of the coin, and the recent buying has taken the asset above $1,900 for the first time since August 2022.
BNB Chain and Ethereum Begin Hosting PancakeSwap V3
Decentralized exchange platform PancakeSwap has launched V3 on the BNB Chain and Ethereum, offering higher efficiency and flexibility compared to V2. The trading fee has been reduced by 25 times, while there has been a 4,000-fold increase in capital efficiency. Liquidity providers have more flexibility in setting the fee structure, with a range of four different fee structures available. The PancakeSwap treasury and liquidity providers will each receive an appropriate share of the trading fee, and arrangements are in place to ensure that a portion goes towards burning CAKE tokens. V3 aims to further cement PancakeSwap's position on the BNB Chain while gaining the top rank on the Ethereum chart. The platform also has two more features in the pipeline: Position Manager and VIP Trading Reward Points.
Bitcoin Whales Push ‘Choreographed’ BTC Price As Ether Nears $2K
Bitcoin (BTC) saw renewed momentum and headed back towards $29,000 on April 5, with data showing whale orders guiding price action. Binance order book data showed large-volume "whale" traders buying, potentially pushing the market higher in the short term. However, some analysts warned that the same traders could be artificially pushing the market higher to sell closer to $30,000. Meanwhile, largest altcoin Ether (ETH) looked primed for an attack on $2,000, having gained nearly 5% in the past 24 hours. Trading suite Decentrader noted that funding rates had already been hinting at the upside to come for ETH/USD, and analysts were optimistic about altcoins in general.
March 2023 Monthly Recap
March proved to be a tumultuous month for the crypto industry, given the increasing collective scrutiny from regulators that many in the industry have dubbed ‘Operation Choke Point’.
Ethereum Shots Up to 8-Month High, Ripple Gains 5% Daily
Bitcoin recently soared to almost $29,000 after a brief dip following news of Interpol issuing a Red Notice on Binance's CEO, which turned out to be fake. Despite failing to continue upwards and challenge $29,000, bitcoin is still up 2% on the day amid bullish on-chain signs and sits north of $28,500. Ethereum is up almost 6%, charting an eight-month high above $1,900, ahead of the long-anticipated Shanghai upgrade. XRP has also surged by 5.3%, while Avalanche and Uniswap are notable gainers from the top 20 altcoins, having surged by over 6%. The total crypto market cap has added around $30 billion in a day and is above $1.2 trillion on CMC.
Ethereum's Shanghai Upgrade Could Bring $2.4B Selling Pressure to Ether: Observers
With Ethereum's upcoming Shapella hard fork, which will allow users to withdraw their "staked ether", there are concerns that holders may rush to exchanges to liquidate their tokens, resulting in a couple of billion dollars of selling pressure. The fear is that 1.1 million ETH related to partial reward withdrawals could face the market, while bankrupt crypto lender Celsius may liquidate its staking balance of 158,176 ETH to recover at least a portion of creditors' funds. San Francisco-based cryptocurrency exchange Kraken is also likely to unstake all ETH staked by US investors. However, the expected supply boost of more than $2 billion amounts to just 20% of ether's average daily trading volume, and the selling pressure will likely be distributed over several days, allowing buyers to match the selling pressure. Additionally, a large share of ether stakers are long-term investors and are unlikely to liquidate their holdings after the upgrade.
