Ethereum's Network Activity Remains Flat Despite Price Rise, Staking Deposits Increase Since Shapella Launch
Despite a rise in price, Ethereum's network activity has not seen a significant increase. However, staking deposits have increased since the launch of the Shapella Upgrade, as many Ethereum holders are looking to enjoy staking yields instead of cashing out in the market. The total number of transfers to all centralized exchanges has remained flat.
Metis Warns Users Not to Buy METIS on BNB Chain After PolyNetwork Hack
Metis, a layer-2 platform on Ethereum, has warned users not to purchase METIS on the BNB Blockchain following the recent PolyNetwork hack, which resulted in the theft of $5.5 million in assets.
Slowing Network Activity Despite Ethereum's Price Growth: Glassnode Insights
Crypto analytics service provider Glassnode has highlighted a lack of correlation between Ethereum's recent price growth and its on-chain activity. Despite lower transaction fees, network activity has slowed, with gas prices rising by just 28% compared to 78% during the Shanghai upgrade event in April.
Institutional Investors Show Increased Interest in Bitcoin and Ethereum-Backed Financial Instruments, According to New Report
According to a report by CCData, institutional investors have been actively trading various financial instruments linked to Bitcoin and Ethereum, including spot trading volumes, derivatives trading, and CME Futures Contracts.
Demand for Liquid Staking Surges in Solana Ecosystem as Ethereum Remains DeFi King
Demand for liquid staking has surged by 91% in the Solana ecosystem, with protocols like Marinade Finance, Lido, Jito, JPool, and Socean holding $187 million in staked SOL tokens by the end of June. This comprises most of the $270 million currently locked in Solana's DeFi ecosystem. However, Ethereum remains the king of DeFi with $26 billion out of $44 billion locked across the industry.
Coinbase Product Director Finds $320K Worth of Crypto for Unaware Owner
Coinbase product director Conor Grogan discovered over $320,000 worth of cryptocurrency for an individual who was unaware of its existence. Grogan explained that during the Ethereum blockchain fork in 2016, those with onchain funds would have been credited an equal amount of ETH for their ETC, but many were unaware of this.
Bankrupt Celsius Network Moves $70 Million Worth of Altcoins Following Court Approval for Sale in Bitcoin and Ethereum
Celsius Network, a bankrupt crypto lender, has moved around $70 million worth of altcoins to different wallets following court approval to sell them for Bitcoin and Ethereum.
Crypto Startup Axiom Launches Mainnet Alpha Mode for Smart Contracts with ZK Proofs to Detect Deepfakes
Axiom, a crypto startup, has launched its mainnet in alpha mode. The protocol allows developers to write smart contracts on Ethereum that can retrieve data from the blockchain network and perform intensive computations on it.
Pendle Expands to Binance Smart Chain to Capture New Users and Boost Revenues
Pendle, a platform for Ethereum and Arbitrum-based liquid staking derivatives (LSD), is expanding to the BNB Chain network to attract new users and generate revenue. Liquid staking is a rapidly growing sector in decentralized finance (DeFi) and the potential for LSD-based financial products is largely untapped. Pendle offers users yields in the form of tradable digital tokens, with some strategies providing up to 82% annualized yields on ether (ETH) and ether derivative tokens. The platform aims to establish the liquidity foundation for LSD in these ecosystems to allow other protocols to build on top. Despite a general bear market, Pendle's locked value of tokens has grown almost 300% since the beginning of the year.
Taiwanese Officials Targeted with Bitcoin and Ethereum Bribery Cases Ahead of 2024 Elections
Taiwan's justice ministry has warned that corruption cases involving Bitcoin (BTC) and Ethereum (ETH) are on the rise in the country. The ministry stated that cryptocurrencies are now being used as "election bribery tools" ahead of the general elections in January 2024.
