What are the forces that increase or decrease the ETH supply in the market? When are more ETHs created and when are they burnt? Does it depend on the network usage? The amount of validators? submitted by /u/mredda [link] [comments]
In addition to a 0.75% basis point hike, the Federal Reserve also set its 2022 target interest rate at 4.4%, leading Bitcoin analysts to forecast further downside for BTC.
Jesse Powell will reportedly be succeeded as CEO by chief operating officer Dave Ripley, who has been with the crypto exchange since 2016.
Data shows the Ethereum Proof-of-Work forks have sharply fallen down in the few days following the merge. Ethereum PoW Forks Have Fallen 66% In Just Five Days According to the latest weekly report from Arcane Research, the ETH PoW forks have performed very poorly against ETH since the merge. The much talked-about event transitioned Ethereum to a Proof-of-Stake consensus mechanism, essentially obfuscating the use of miners on the network. However, some communities that were in favor of the old PoW-based system decided to create forks as the merge came approaching. These new forks still rely on mining for reaching consensus on the network and have therefore naturally attracted the stranded ETH miners. Related Reading: Bitcoin Long-Term Holder Dumping May Have Been Behind Revisit Below $19k Here is a chart that shows how some of the most popular forks (ETC, ETHW, and ETF) have compared versus Ethereum in the last five days: Looks like the worst performer out of these was ETF | Source: Arcane Research’s The Weekly Update – Week 37, 2022 As you can see in the above graph, Ethereum has been struggling since the merge, registering around 17% in negative returns. The PoW forks, however, have been even worse. ETHW has noted losses upwards of 66%, while ETF investors have been yet deeper into the red with their holdings going down by more than 72% during the period. The best of this bunch was Ethereum Classic, being down “only” 25% in the last five days. This performance was much better than the other two forks, but still noticeably lower than ETH’s returns. Related Reading: Investing In Uniglo (GLO), Bitcoin (BTC), And Ethereum (ETH) Is The Shortest Road To Your First One Million Dollars The report notes that this wasn’t something unpredictable as the forks were expected to struggle with amassing any meaningful adoption and to view almost no significant DeFi activity. The current selling pressure in these cryptos is likely coming from Ethereum holders selling off their airdrops, as per the report. ETC saw a large amount of ETH miners connecting to the network, leading to a hashrate, and hence a difficulty, explosion for the coin. Since Ethereum Classic’s miner revenues are less than $1 million per day, while they were more than $20 million for ETH, mining the crypto isn’t viable on the same scale as ETH’s in the long term. ETH Price At the time of writing, Ether’s price floats around $19.1k, down 5% in the last seven days. Over the past month, the crypto has lost 10% in value. The below chart shows the trend in the price of the coin over the last five days. The value of the crypto seems to have failed to recover from the plunge a few days back | Source: BTCUSD on TradingView Featured image from Kanchanara on Unsplash.com, charts from TradingView.com, Arcane Research
The U.S. Federal Reserve raised the federal funds rate on Wednesday afternoon by three-quarters of a percentage point. The central bank’s move follows the consumer price index (CPI) report last week that showed U.S. inflation jumped last month by 8.3% per annum. Fed Raises Federal Funds Rate by 75bps anticipates ‘Ongoing Increases’ On September 21, […]
Ryo Matsubara, representative director of Oasys, told Cointelegraph that Japanese gaming giants have a long-term vision for blockchain gaming.
submitted by /u/Crypto-Jim33 [link] [comments]
PayPal is promoting that you can send ETH to external wallets, this is a lie. They are holding thousands of users ETH for ransom. DO NOT USE PAYPAL. See my whole thread on the topic below in the paypal subreddit. https://www.reddit.com/r/paypal/comments/xk9iit/do_not_purchase_crypto_on_paypal/?sort=new submitted by /u/Riledup2020 [link] [comments]
submitted by /u/ChemicalGreek [link] [comments]
The firm is also in the process of testing a digital euro together with the European Central Bank.
