ethereum – pressnews

Crypto weekend slump compounds jitters of investors already on edge

10Jun

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Technology

Crypto weekend slump compounds jitters of investors already on edge

[ad_1] A sharp weekend crypto selloff led by a slump in smaller digital tokens set off a fresh wave of anxiety among investors, following a week in which a crackdown by the US Securities and Exchange Commission on the sector gained significant pace.Altcoins including Cardano's ADA tumbled as much as 25% on Saturday before paring a sliver of the decline, while tokens including Solana's SOL, Polygon's MATIC and Avalanche's AVAX posted double-digit percentage drops. Bitcoin, the largest digital asset, slid about 3% as of 11 a.m. in New York. Second-ranked Ether earlier shed 5.6% to hit its lowest level since late March. The crypto market is notorious for big swings during weekends, when activity is typically thinner and even small trades can make an impact. This time around, investors were...

Why Crypto Is Watching Ethereum’s ‘Shanghai’ Upgrade

10Apr

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Technology

Why Crypto Is Watching Ethereum’s ‘Shanghai’ Upgrade

[ad_1] The Ethereum network is set to undergo a technical revamp on April 12 that will allow users to withdraw tens of billions of dollars of its native token, Ether. Known as the “Shanghai” upgrade, it's a necessary step after the world's most commercially important crypto platform shifted to a less power-hungry process for ordering transactions. Investors burned by recent turmoil in crypto markets will be wondering if, presented with their first opportunity to withdraw their tokens, some Ether holders will run for the hills. 1. What is Ethereum?It's a computer network that hosts what are known as smart contracts — self-executing software agreements in which a chain of actions can flow from defined conditions and contingencies. Since it was introduced by crypto entrepreneur Vitalik But...

Billions Worth of Crypto Trades at Risk as Bank Shutdowns Take Toll

13Mar

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Technology

Billions Worth of Crypto Trades at Risk as Bank Shutdowns Take Toll

[ad_1] The digital-asset market is coming off of a turbulent year featuring a number of high-profile blowups. Now, two shutdowns in the banking industry — SVB Financial Group's Silicon Valley Bank and Silvergate Capital Corp. — have set off a fresh set of stresses. SVB's failure triggered a knock-on effect in the crucial market for stablecoins after digital-asset giant Circle Internet Financial Corp., one of the biggest issuers of the widely used tokens known for their perceived safety, revealed it had $3.3 billion of reserves with the bank. The news caused Circle's token, USD Coin, to slip below its intended 1-for-1 peg with the dollar, sending a shock through the market. As concerning as USD Coin's de-peg was, it is the shutdown of crypto-friendly bank Silvergate...

Cryptocurrencies Fall Amid Concern Over Regulatory Crackdown

11Feb

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Technology

Cryptocurrencies Fall Amid Concern Over Regulatory Crackdown

[ad_1] The decline in cryptocurrencies gained momentum Thursday as signs of a regulatory crackdown on the industry and a broader pullback from risk assets weighed on investor sentiment. Bitcoin, the largest digital coin by market value, fell as much as 4.9%, its worst performance since the end of January, data compiled by Bloomberg show. The token traded around $21,900 as of 3:30 p.m. in New York, after hovering above $23,000 earlier this week. Others also lost ground, with Ether dropping more than 5%. Dogecoin and Avalanche, meanwhile, each fell more than 8%. The drops followed news that exchange Kraken will pay $30 million to settle Securities and Exchange Commission allegations that it broke US securities rules with its crypto-asset staking products and will discontinue them as...

Ethereum Co-Founder Warns Against Singapore’s Crypto Regulations

20Nov

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Technology

Ethereum Co-Founder Warns Against Singapore’s Crypto Regulations

[ad_1] Singapore’s ambition to become a hub for digital assets might not work, Vitalik Buterin, co-founder of the Ethereum, said. Singapore's ambition to become a hub for digital assets might not work out because of its skeptical approach toward cryptocurrencies, Vitalik Buterin, co-founder of the Ethereum blockchain platform, said. The city-state's “willingness to make a distinction between blockchain usage and cryptocurrency is like one of those weird things,” he said in a video interview with The Straits Times, published on Sunday. “The reality is if you don't have cryptocurrency, blockchains that you're going to have are just fake and nobody's going to care about them.” Singapore is seeking to clamp down on retail-investor access to crypto trading to reduce risks to consumers from...

Ethereum Insiders to Get Fee Cuts That Others Won’t in Upgrade

6Nov

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Technology

Ethereum Insiders to Get Fee Cuts That Others Won’t in Upgrade

[ad_1] When the Ethereum blockchain undergoes its next major upgrade, some key participants will likely see fees decline. When the Ethereum blockchain undergoes its next major upgrade, some key participants will likely see fees decline while they'll remain the same for other users of the most commercially important cryptocurrency network. The so-called Shanghai software update projected for next year is expected to give users who pledge, or stake, the network's native Ether cryptocurrency the ability to free up their coins at some point from special digital wallets used to order transactions on the network. But a number of other small changes are being tucked in with this main one. One of them, called WARM Coinbase -- which has nothing to do with crypto exchange Coinbase Global -- ...

Europe’s ‘First’ NFT Vending Machine Gets Cold London Reception

5Nov

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Europe’s ‘First’ NFT Vending Machine Gets Cold London Reception

[ad_1] A neon purple vending machine dispensing nonfungible tokens for £10 ($11.18) a pop has materialized in the middle of London, drawing frosty stares from passers-by in the British capital. A neon purple vending machine dispensing nonfungible tokens for £10 ($11.18) a pop has materialized in the middle of London, drawing frosty stares from passers-by in the British capital. The glowing gadget is the 21st century iteration of the first coin-operated machines seen in the city in the 1880s, doling out postcards. Sited at the Queen Elizabeth II Centre in Westminster, it will be available between Nov. 3-4 for the NFT. London conference, which brings together the local crypto community for debates and workshops. Fans have not been put off attending the event even though NFT trading vol...

NFT Bargain-Hunting Is in as Crypto Bust Craters Prices

16Oct

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Technology

NFT Bargain-Hunting Is in as Crypto Bust Craters Prices

[ad_1] NFT sales plunged 67% sequentially in the third quarter as speculators and celebrities made an exodus. A year ago, Daniel Maegaard, one of the higher-profile collectors of nonfungible tokens, was spending tens of thousands of dollars on CryptoPunks featuring funky-looking people or apes. In the last few months, he's been buying NFTs that typically sell for less than $2,000. The shift is indicative of the metamorphosis taking place in the market for the once-coveted digital images promoted by the likes of Justin Bieber and Madonna. NFT sales plunged 67% sequentially in the third quarter as speculators and celebrities made an exodus, leaving the sector mostly to the dedicated long-term believers in the various potential use cases, and collectors betting that the plunge in pric...

Bitcoin Mining Surges to a Record as Merge Opens Up Capacity

11Oct

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Technology

Bitcoin Mining Surges to a Record as Merge Opens Up Capacity

[ad_1] The amount of computing power dedicated to Bitcoin mining surged to a record. The amount of computing power dedicated to Bitcoin mining surged to a record as more companies made use of the energy and data center space freed up after the upgrade of the Ethereum network, likely further compressing profit margins. Mining difficulty, a measure of Bitcoin miners' computing power for the blockchain, has jumped by 13.6% in the two-weeks ended Monday. That was also the largest bi-weekly adjustment since last May. The increase is in part thanks to the decline of Ether mining, analysts said. Known as the Merge, Ethereum's technical upgrade has replaced as many as one million powerful computers with Ether holders to validate transaction data encrypted by the network and reduce its ca...

Ether Outlook Darkens in Charts Capturing Hangover After the Merge

20Sep

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Technology

Ether Outlook Darkens in Charts Capturing Hangover After the Merge

[ad_1] The fanfare over a revamp of the Ethereum blockchain is still echoing across the cryptoverse but that’s doing little to stem a slide in Ether. The fanfare over a revamp of the Ethereum blockchain is still echoing across the cryptoverse but that's doing little to stem a slide in Ether.The network's native token is down 10% since the most commercially important digital ledger last week implemented an upgrade to slash energy use. The second-largest virtual coin had rallied from mid-June on hype around the software update known as the Merge, but that's fizzling now the shift is done. It's down some 63% this year, a bruising period for cryptocurrencies. Crypto and many other assets are also quivering ahead of what's likely ...