Ether (ETH) price is down 37.5% in the last seven days and recent news reported that developers decided to postpone the network's migration to a proof-of-stake (PoS) consensus. This upgrade is expected to end the dependency on proof-of-work (PoW) mining and the Merge scalability solution that has been pursued for the past six years. Competing smart contracts like BNB, Cardano (ADA) and Solana (SOL) outperformed Ether by 13% to 17% since June 8 even though there was a market-wide correction in the cryptocurrency sector. This suggests that the Ethereum network's issues also weighed on the ETH price. The "difficulty bomb," …

Since 2020, miners on the Ethereum blockchain have extracted around $600 million from other investors by miners, according to a new report by the Bank for International Settlements (BIS) focusing on common malpractice in the crypto mining industry. The June 16 bulletin, “Miners as intermediaries: extractable value and market manipulation in crypto and DeFi,” suggests three key takeaways from the BIS' research on the functioning of the Ethereum protocol. The first is hardly surprising, which observed that Ether (ETH) and the decentralized finance (DeFi) protocols built on it “rely on validators or "miners" as intermediaries to verify transactions and update …

Crypto startups have a significant role to play in the development of the entire blockchain industry. However, while many business owners have big ideas that aim to change the world, some fail to invest to develop the most critical aspects of a business, resulting in employees quitting. After being hired by a crypto startup, Roland Guirdonan from Chad, Central Africa, thought he had lucky as he accepted his first job offer in the crypto world. He later realized that while it seemed like a dream job, it was more of a nightmare that he needed to run away from. In …

Billionaire crypto investor and owner of the Dallas Mavericks Mark Cuban says the current market downturn reminds him of a well-known adage uttered by Warren Buffett. Cuban sees a parallel between the rise and fall of cryptocurrency markets and projects, and the 91-year-old Oracle of Omaha’s aphorism states that, “Only when the tide goes out do you discover who's been swimming naked.” Cuban’s observation was revealed during a Thursday interview with Fortune in which he discussed what he sees as flawed business models of some crypto projects that have fallen on hard times over the past two months. “In stocks …

According to price data from CoinGecko compiled by CoinGoLive, the current bear market has seen a whopping 72 out of the top 100 tokens fall more than 90% from their all-time highs. The larger-cap coins are faring better than most. Among the top 10 cryptocurrencies by market capitalization, nine have dipped less than 90% during the current market downturn. Bitcoin (BTC), the largest crypto, is down 70.3% from its November 2021 high of $69,000. In second place is Ether (ETH), which is down 78% from its high of $4,878. Others in the top 10 include Binance’s BNB, Cardano’s ADA, Solana’s …

The internet continues to exist as the backbone of society at large. The only drawback is that the traditional internet model relies on all devices being connected to nodes that centralize information, redistributing it to form a flow. Consequently, centralization can lead to a lack of privacy and a single point of failure for all websites that rely on it. Blockchain changes this by creating a distributed network, where all devices store all the information on the web. Although the technology is still new, its aspirations are large and its computational needs are growing. Ethereum (ETH) has attempted to overcome …

Ethereum's native token Ether (ETH) slumped on June 16, suggesting that its relief rally, coinciding with the Federal Reserve announcing it will hike the benchmark rate by 0.75%, is at risk. Ether bulls trapped? Ether's price slipped by 9.2% to around $1,120 per token a day after it rebounded by 23% after dropping to almost $1,000, its worst level since January 2021. The ETH/USD pair's upside move, followed by a sharp correction, appeared in tandem with U.S. stocks, confirming that it traded like a risk-asset. The decline means that Ether has shed 77% of its value since November 2021 and …

Ankr, one of the industry’s fastest RPC providers and web3 developer toolsets, has announced that it will become a remote procedure call provider for Optimism. Optimism is an open-source layer-2 scaling solution for Ethereum that focuses on speed and efficient transactions across the network. It has caught the eyes of many in recent months, including Ethereum co-founder Vitalik Buterin. This is a great example of why I'm so proud of @optimismPBC for adding non-token governance (the Citizen House). Optimism explicitly has goals *other* than just "make OP go up", and the only way to do that long-term is with explicit …

Bitcoin (BTC) plummeted close to the crucial support of $20,000 as traders panicked and dumped their holdings, fearing an aggressive rate hike by the United States Federal Reserve on June 15. Another reason for the sell-off could be fears of possible contagion if lending platform Celsius and crypto venture capital firm Three Arrows Capital (3AC) go belly up. Data from on-chain analytics platform CryptoQuant showed 24-hour exchange inflows of 59,376 Bitcoin on June 14, the highest inflows since November 30, 2018. The Bitcoin miners also joined other investors in sending Bitcoin to the exchanges. The Bitcoin Miners to Exchange flow …

Not only is the number of nonfungible token (NFT) collections growing at a phenomenal rate, but so are the NFT marketplaces. Previously, NFT marketplaces were mainly decentralized applications (dApps) on various blockchains, but nowadays, crypto exchanges are also seeing the benefits of having their own NFT marketplace. This includes Coinbase, the exchange with the most users worldwide, which, of course, cannot lag behind the competition. Related: What are DApps? Everything there is to know about decentralized applications The American crypto exchange was founded in 2012 and was initially mainly involved in the buying and selling process of cryptocurrencies. Over the …

Some of the highest-profile investors in crypto believe that a crypto market bottom is fast approaching and the timing is right to buy — although one still warns of catastrophic outcomes should prices fall below established support levels. Billionaire Mike Novogratz, founder, chairman and CEO of digital asset merchant bank Galaxy Digital Holdings, told a Morgan Stanley conference on Monday that cryptocurrencies may be close to a bottom, with Ether (ETH) likely to hold at $1,000 and Bitcoin (BTC) at around $20,000 to $21,000. The bottom for crypto would be realized faster than that of United States stocks, which could …

Ether (ETH) price nosedived below $1,100 in the early hours of June 14 to prices not seen since January 2021. The downside move marks a 78% correction since the $4,870 all-time high on Nov. 10, 2021. More importantly, Ether has underperformed Bitcoin (BTC) by 33% between May 10 and June 14, 2022, and the last time a similar event happened was mid-2021. Even though Bitcoin oscillated in a narrow range two weeks before the 0.082 ETH/BTC peak, this period marked the “DeFi Summer” peak when the Ethereum network’s total value locked (TVL) catapulted to $93 billion from $42 billion two …