Etherium

Ethereum fork a success as Sepolia testnet gears up to trial the Merge
Etherium

Ethereum fork a success as Sepolia testnet gears up to trial the Merge

The difficulty bomb-delaying Gray Glacier hard fork went live on Ethereum on Thursday without a hitch, according to the network’s core devs including Ethereum Foundation’s Tim Beiko.The Sepolia testnet is also set to run through its Merge trial over the next few days and is the second last testnet to go through the trial before the official Merge. According to Etherscan, the Gray Glacier hard fork was initiated on block number 15050000 at roughly 6:54 am EST on Thursday. The hard fork will now delay the difficulty bomb by roughly 700,000 blocks or 100 days, giving devs until mid-October to complete the long-awaited Merge. Ethereum Foundation community manager Tim Beiko promptly went to note on Twitter later on Thursday that at 20 blocks past the fork, all monitored notes remained in s...
Ethereum $1K price support in danger as Q2 comes to a close
Etherium

Ethereum $1K price support in danger as Q2 comes to a close

Ethereum's native token Ether (ETH) fell on the final trading day of Q2/2022, trading in sync with riskier assets amid persistent fears of higher inflation and rising interest rates. And it could result in further declines heading into Q3.ETH price breakdown underwayETH's price plunged nearly 5% this June 30 to $1,044 following a four-day losing streak. The ETH/USD pair has also broken below its interim rising trendline support, which in conjugation with a horizontal trendline resistance to the upside, constitutes an "ascending triangle" pattern.Ascending triangles are bearish continuation patterns when they occur after a sharp downtrend. Therefore, a breakdown out of an ascending triangle typically results in the price falling further lower, typically by as much as the structure's maximum...
Crypto market crash wipes out millions from North Korea’s stolen crypto funds
Etherium

Crypto market crash wipes out millions from North Korea’s stolen crypto funds

North Korea leads the world in crypto crime, with over 15 documented instances of cyber theft amounting to $1.59 billion in stolen funds. However, the recent crypto market turmoil has wiped out millions of dollars from the country’s stolen crypto portfolio.The crypto market rundown that started in May wiped out hundreds of billions of dollars from the crypto industry, where most of the crypto assets fell by over 70% from their top. As a result majority of stolen crypto funds by the Democratic People's Republic of Korea (DPRK) hackers have registered a significant plunge as well.A report from Coinclub.com indicates that North Korea has deployed 7,000 full-time hackers to raise funds through cyberattacks, ransomware and crypto protocol hacks. The $600 million Ronin bridge hack in April was a...
Anchorage launches Ethereum staking for institutional investors
Etherium

Anchorage launches Ethereum staking for institutional investors

Anchorage Digital, a San-Francisco-based digital platform that owns the first federally chartered crypto bank, will open an option for institutions to stake Ethereum (ETH). This move comes in anticipation of the Ethereum network’s long-promised shift from proof-of-work (PoW) to the proof-of-stake (PoS) protocol. Anchorage announced on Tuesday its intention to introduce ETH staking — a practice of earning rewards for serving as a transaction validator in the Ethereum blockchain — for institutions. Diogo Mónica, co-founder and president of Anchorage Digital, called staking a win-win for institutional investors and the ecosystem:“By paving the way for institutions to stake their Ethereum, we’re providing heightened legitimacy to market-tested assets—and in the process, eliminating a...
Community reacts after SEC’s Gensler affirms BTC’s commodity status
Etherium

Community reacts after SEC’s Gensler affirms BTC’s commodity status

United States Securities and Exchange Commission Chair Gary Gensler riled up Crypto Twitter on Monday after affirming that Bitcoin (BTC) is a commodity. Questions were raised about its impact on Grayscales’ proposed Bitcoin exchange-traded fund (ETF) and why Ether (ETH) wasn’t mentioned.Speaking to Jim Cramer on CNBC’s Squawk Box on Monday, the SEC chair said that while many crypto-financial assets have the key attribute of a security, Bitcoin is the “only one” that he was comfortable publicly labeling as a commodity:“Some, like Bitcoin — and that’s the only one I’m going to say because I’m not going to talk about any one of these tokens, but my predecessors and others have said they’re a commodity.”Grayscale Bitcoin ETFThe remarks kicked up chatter about Grayscale’s application to convert...
Harmony hacker sends stolen funds to Tornado Cash mixer
Etherium

Harmony hacker sends stolen funds to Tornado Cash mixer

The funds from Harmony’s Horizon Bridge have begun to move into the Tornado Cash Ethererum mixer, signaling that the attacker has no intention of accepting the $1 million bounty offered.The decision to obfuscate the ill-gotten gains answers questions about whether the Harmony team’s offer of just 1% of the $100 million in crypto funds stolen on Friday would be enough to convince the exploiter to return them.#PeckShieldAlert ~6k $ETH (~$7.1m) into @TornadoCash from @harmonyprotocol exploiters Intermediary address: 0x432...47ae pic.twitter.com/AR9dmJRQet— PeckShieldAlert (@PeckShieldAlert) June 27, 2022A total of 18,036.3 Ether (ETH), worth about $21 million, was moved out of the Horizon Bridge exploiter’s primary wallet at 03:10 am EST on Tuesday. These funds were then divided equally three...
Institutional crypto asset products saw record weekly outflows of $423M
Bitcoin, Etherium

Institutional crypto asset products saw record weekly outflows of $423M

Digital asset investment products saw record outflows totaling $423 million last week, with institutional investors from Canada representing nearly all of the carnage. According to the latest edition of CoinShares’ weekly “Digital Asset Fund Flows” report, Canadian investors offloaded a whopping $487.5 worth of digital asset products between June 20 and June 24. The total outflows for the week were partially offset by $70 million worth of inflows from other countries, with United States-based investors accounting for more than half of the inflows with $41 million. Outside of the U.S., investors from Germany and Switzerland accounted for inflows totaling $11 million and $10.4 million apiece. In comparison, Brazilians and Australians also pitched in with minor inflows of $1.6 million and $1....
Final Capitulation — 5 reasons why Bitcoin could bottom at $10,000
Etherium

Final Capitulation — 5 reasons why Bitcoin could bottom at $10,000

Bear markets have historically been challenging to navigate for traders and the conventional set of "reliable" indicators that determine good entry points are unable to predict how long a crypto winter might last.Bitcoin’s (BTC) recent recovery back above the psychologically important price level of $20,000 was a sign to many traders that the bottom was in, but a deeper dive into the data suggests that the short-term relief rally might not be enough proof of a macro-level trend change.Evidence pointing to the need for caution was provided in a recent report by cryptocurrency research firm Delphi Digital, which suggested that “we need to see a little more pain before we have conviction that a market bottom is in.”Despite the pain that has already been felt since Bitcoin’s price to...
Harmony offers $1M bounty, but is it big enough?
Etherium

Harmony offers $1M bounty, but is it big enough?

The Harmony layer-1 blockchain project team has offered a bounty equal to just 1% of the $100 million in crypto stolen from the Horizon Bridge hack last week. Harmony tweeted on June 26 that the team had committed $1 million for the return of the funds that were stolen from the Horizon Bridge on Thursday. It added, “Harmony will advocate for no criminal charges when funds are returned.”We commit to a $1M bounty for the return of Horizon bridge funds and sharing exploit information. Contact us at whitehat@harmony.one or ETH address 0xd6ddd996b2d5b7db22306654fd548ba2a58693ac. Harmony will advocate for no criminal charges when funds are returned.— Harmony (@harmonyprotocol) June 26, 2022However, concerns have been raised that the modest bounty sum may not be enough to incentivize the att...
How low can Ethereum price drop versus Bitcoin amid the DeFi contagion?
Bitcoin, Etherium

How low can Ethereum price drop versus Bitcoin amid the DeFi contagion?

Ethereum's native token Ether (ETH) has declined by more than 35% against Bitcoin (BTC) since December 2021 with a potential to decline further in the coming months.ETH/BTC weekly price chart. Source: TradingViewETH/BTC dynamicsThe ETH/BTC pair's bullish trends typically suggest an increasing risk appetite among crypto traders, where speculation is more focused on Ether's future valuations versus keeping their capital long-term in BTC. Conversely, a bearish ETH/BTC cycle is typically accompanied by a plunge in altcoins and Ethereum's decline in market share. As a result, traders seek safety in BTC, showcasing their risk-off sentiment within the crypto industry.Ethereum TVL wipe-outInterest in the Ethereum blockchain soared during the pandemic as developers started turning to it to cre...