Whale Withdraws $36.86 Million Worth of Ethereum From Binance Amidst Uncertainty Surrounding the Exchange
A newly created wallet address on the Ethereum network has withdrawn 20,000 ETH tokens worth $36.86 million from Binance exchange. It is unclear whether the funds were consolidated after buying Ethereum based on the Fear, Uncertainty and Doubt (FUD) surrounding the industry.
Optimism Price Analysis: Bearish Pressure and Potential Downward Trend for Ethereum Layer-2 Scaling Solution
Optimism is a layer-2 scaling solution for Ethereum that utilizes Optimistic rollups to increase transaction speed and reduce costs. The OP token, which was airdropped to early users, has gained popularity in the Ethereum community, with a current price of $1.42 and a market capitalization of $302.38 million.
Arbitrum Sequencer Bug Causes Temporary Transaction Pause for an Hour
Arbitrum, a popular Ethereum layer-2 scaling solution, experienced a temporary pause in transaction processing due to a bug in its sequencer's batch poster. The incident lasted for only an hour and did not significantly affect the price of the ARB token.
VanEck Predicts Ethereum’s Annual Revenue To Reach $51 Billion by 2030, With Potential Token Price of $11.8K
Investment firm VanEck has predicted that Ethereum's annual revenue could rise from $2.6 billion to $51 billion by 2030, potentially leading to a token price of $11.8k. The valuation methodology includes cash flow projections, deductions for validator fees and taxes, and the use of a free cash flow multiple. Ethereum's potential as a store-of-value asset is explored, considering its programmability, cross-chain capabilities, and the concept of "Security as a Service". As Ethereum continues to evolve and capture market share, its role as a leading smart contract platform and a potential store-of-value asset becomes increasingly prominent in the crypto landscape.
Massive Ethereum Whales Hold Record $59.6 Billion Worth of ETH: Santiment
According to crypto analytics firm Santiment, the largest non-exchange Ethereum whales have been accumulating the second-largest crypto asset throughout 2021. The top 10 non-exchange Ethereum addresses now hold a record high of 31.8 million ETH, worth over $59.6 billion. Santiment attributes this to the increasing movement of Ethereum into self-custody and DeFi options.
Aave Companies Nears Final Phase of Decentralized Stablecoin Rollout on Ethereum Mainnet
Aave Companies is in the final phase of implementing its decentralized GHO stablecoin, which is currently operational on Ethereum's Goerli testnet. The stablecoin will require two rounds of on-chain votes from the Aave community before it can be launched on the Ethereum mainnet.
Rocket Pool Empowers Users To Stake ETH On Ethereum Layer-2 ZkSync Era
Rocket Pool, a long-standing Ethereum liquid staking protocol, has successfully deployed on the zkSync Era platform, highlighting the increasing recognition of Layer-2 solutions and positioning Rocket Pool as a pioneer in utilizing zkSync Era's capabilities for enhanced efficiency and scalability. The move signifies Rocket Pool's commitment to embracing cutting-edge advancements and enhancing the overall efficiency of the Ethereum network.
Blockchain Technology Stuck in "Monolithic Layer-1 Loop," Says Celestia Labs Co-Founder
The slow adoption of new internet technology due to the need for hardware replacement is comparable to the slow adoption of blockchain technology. Celestia Labs co-founder, Mustafa Al-Bassam, suggests that constantly creating new layer-1s is unsustainable and proposes using rollups to build on top of networks. Ethereum's development is currently focused on a "rollup-centric roadmap" to achieve scaling.
Bitcoin surges 5.56% to $27,171, Ether rises 4.72% on Tuesday
Illustrative souvenir tokens of Bitcoin are seen plunging into water in this image captured on May 17, 2022. As of 19:57 GMT on Tuesday, Bitcoin has gained 5.56% to reach $27,171, which is $1,432 more than its previous closing price. The world's largest and most well-known cryptocurrency has risen by 64.7% from its low of $16,496 on January 1. Meanwhile, Ether, the coin associated with the Ethereum blockchain network, has increased by 4.72% to $1,896.1, adding $85.4 to its previous closing price.
Optimism Completes Bedrock Upgrade, Moves Closer to Becoming a "Superchain"
Optimism, a layer 2 scaling solution for Ethereum, has completed its Bedrock upgrade, bringing the blockchain closer to its goal of becoming a "Superchain" of interoperable mini-blockchains. The upgrade, which is also known as a hard fork, aims to improve the functionality of the chain by reducing deposit-confirmation times from 10 minutes to 1 minute and lowering gas fees by 40%. The upgrade also improves proof modularity for its OP Stack, an open-source platform for developers to build customizable blockchains with Optimism, and makes Optimism into a multi-client ecosystem, which helps strengthen the blockchain by reducing the possibility of network downtime. The native token for Optimism, $OP, saw a 10% increase in value following the Bedrock upgrade.
