ETH

After months of anticipation, September 15, 2022 finally saw the merger of the Ethereum mainnet execution layer and the Beacon Chain’s consensus layer. The Merge finally ushers in the days of Ethereum’s proof-of-stake (PoS) consensus mechanism. This renders defunct the proof-of-work (PoW) consensus for the Ethereum network. In his celebratory and congratulatory tweet, Ethereum’s co-founder, Vitalik Buterin, said the Merge “is a big moment for the Ethereum ecosystem.” And the NFT community did not hesitate to prove this fact. https://twitter.com/VitalikButerin/status/1570306185391378434?s=20&t=Lqq0NpxNi6-KQDE65m5zMA…

Major crypto exchange Binance will halt operations involving Ether (ETH) and ERC-20 tokens during the Ethereum network’s forthcoming upgrades, according to an official release. Binance cited the possibility of a hard fork and explained that the move is to ensure the safety of user funds in such a scenario. Binance to Close Withdrawals and Deposits to Protect Customers Ethereum is set to carry out its transition to the proof-of-stake Beacon chain in September. This event, dubbed the Merge, has seen…

Whale movements and analysts suggest that ETH could dip during and after the Merge   While excitement builds towards the Ethereum Merge date which is less than a month away, market anticipation hasn’t been convincingly positive. As a matter of fact, according to recent data, sellers might be pining for the Merge rather than stacking up.  Whale Movements Suggest Possible Drop in Ether Price According to data from blockchain analytics  Santiment, previous bullish build-up prior to the Merge appears to…

Speculations of a rug pull have begun circulating after SudoRare, an AMM protocol for ERC-721s to ERC-20 swaps unexpectedly stopped running. The platform’s social media accounts are no longer active and the founders appear to have carted off 519 Ethereum tokens, about 519 ETH, about $815K. SudoRare Wallet Drained, Social Media Goes Offline Crypto analyst @sungjae_han first sounded the alarm via a tweet this morning. The post pointed out a strange transaction on SudoRare’s etherscan data. Using LooksRare (LOOKS) and…

On Thursday, MakerDAO co-founder Rune Christensen shared a proposal via the network’s official Discord server. Christensen raised the suggestion that the MakerDAO organization should swap its $3.5B  worth of USDC for Ether. However, Ethereum creator Vitalik Buterin tagged Christensen’s plan a “terrible idea” despite the potential benefits of such a move on Ethereum’s value.  Christensen To Remove USDC Exposure Rune’s actual goal is to eliminate MakerDAO’s exposure to USDC following the US Treasury’s recent sanction on crypto mixer Tornado Cash.…

Ethereum developers have established tentative, official scheduling for the merge on September 15th. On that day, the network’s consensus mechanism will change from proof of work to proof of stake.  The date was established on Thursday during an Ethereum Foundation Consensus Layer Call. Developers agreed to target either September 15th or September 16th with the upgrade. However, the timing remains an estimate, and devs stressed that the official date is not finalized yet. On Thursday, developer Tim Beiko tweeted the…

Early this morning, blockchain protocol Chainlink shared a release outlining its plans following Ethereum's merge upgrade. The platform revealed that it will cease to support the forked versions of the Ethereum chain. Chainlink Stands With the Ethereum Foundation Over the past few weeks, the Ethereum blockchain has been getting ready for its long-awaited shift to the proof-of-stake consensus mechanism. The network’s core devs have dubbed it the merge and set a tentative launch date in the middle of September. Ahead…

In a recent community meeting, Blockdaemon's Ethereum leader expressed confidence in Ethereum's potential to maintain its top spot among Layer-1 protocols. Freddy Zwanzger, the Blockdaemon officer, asserted that all 'Ethereum Killers' would fail. Ethereum Killers is a colloquial term for green chip protocols like Solana, Cardano, and Polkadot. They didn't succeed in the past, and I don't expect them to,” he added. The Ethereum ecosystem leader of Blockdaemon stated that he does not foresee Ethereum dropping from its top position…

North Korean state-backed hackers were likely behind the latest crypto attack that saw Horizon lose approximately $100 million. CNBC reported earlier today, citing analysis from blockchain researchers Elliptic and Chainalysis. Per Elliptic, there are strong indications that Lazarus Group was behind the attack. The company added that the Horizon attacker converted most of the stolen funds into Ether (ETH). Following the exploit, the hacker’s address held 85,867.25 ETH. Elliptic claims that the hacker started laundering the funds through Tornado Cash,…