Category: Cryptocurrency News

The Ethereum community has been anticipating the move from the Proof-of-Work (PoW) to the Proof-of-Stake mechanism. Luckily for everyone, the Merge will soon occur, and reports show that the developers are approaching the final test phase before the significant event. Tim Beiko, the lead developer on Ethereum, disclosed these details on July 28. According to him, the testnet transition will take place on the Goerli testnet, a close simulation of the Ethereum mainnet. 📢📢📢 Goerli/Prater Merge Announcement 📢 📢📢 Prater will run through the Bellatrix upgrade on August 4th, and merge with Goerli between August 6-12th: if you run a node or validator, this is your last chance to go through the process before mainnet 🚨https://t.co/JAz5AJe12B — Tim Beiko | timbeiko.eth 🐼 (@TimBeiko) July 27, 2022 This version is known as Prator, and the date will be between August 6 and 12. The network upgrade will be called Paris, but another upgrade, Bellatrix, will position Prater well for the Goerl Merge. According to Beiko, the date for the Bellatrix upgrade will be on August 4. However, the lead developer also stated that validators and those who run nodes on Ethereum should pass through the process to prepare thoroughly for the mainnet move to PoS. Final Preparations Before Moving To PoS According to the information released, the network has to complete one more testnet. The developers have completed many devnets, merges, and shadow forks on deprecated testnets. For instance, early in July, the developers ended the ninth shadow fork testing the MEV boost feature. In the announcement, the lead developer stated that node operators must update their execution and consensus layer clients in tandem. But for stakers and holders of Ethereum, there’s nothing to do now. Those to take action are the testnet participants and node operators. Related Reading: Ethereum Barrels Past $1,700 – Next Target: $2,000 Regarding the significant Merge, the community already knows it will take place on September 19, as the developers previously announced. But if there is an issue with the Goerli testing phase, the date might be pushed forward again. Merge Becomes The Most Significant Ethereum Upgrade Since Ethereum started operating on July 30, 2015, this is the highest upgrade on the network. But the plans to migrate to the Poof-of-Work mechanism have been ongoing for some years. Unfortunately, the developers have had many delays, which haven’t been okay with the community. Thankfully, September 2022 will mark the end of the frustrations. For instance, traders have staked 13.1 million ETH on Beacon Chain, worth $21.5 billion. Even though these stakers earn 4.6% APY in Ether, withdrawing the gains will only occur many months after the Merge. Related Reading: Polkadot (DOT) Grinds 15% Higher Amid Sustained Buying The announcement also brought another price surge for ETH as it gained by 15% on July 28 to sell at $1,667 during the morning hours of the Asian trading session. This position shows a 47% increase over two weeks, even though it has yet to reach its 2021 highest price point. Featured image from Pexels, chart from TradingView.com

New legislation introducing tighter restrictions on payments with large sums of cash will enter into force in Israel on Monday. The goal, as stated by the country’s tax authority, is to improve the fight against organized crime, money laundering, and tax evasion. Critics doubt the law will achieve that. Authorities in Israel Go After Cash […]

On-chain data shows the Ethereum exchange inflows have declined to low values recently, a sign that could be bullish for the crypto’s price. Ethereum 7-day MA Exchange Inflows Have Gone Down In Recent Weeks As pointed out by an analyst in a CryptoQuant post, the ETH price has been reversing up as the PoS merge comes near. The “exchange inflow” is an indicator that measures the total amount of Ethereum moving into wallets of all centralized exchanges. When the value of this metric shoots up, it means a large number of coins are being deposited into exchanges right now. Since investors usually transfer to exchanges for selling purposes, such a trend can be bearish for the price of the crypto. On the other hand, low values of the indicator can suggest holders aren’t sending in many coins to exchanges at the moment. Depending on whether they are also withdrawing or not, this trend could be either bullish or neutral for the value of ETH. Now, here is a chart that shows the trend in the Ethereum 7-day moving average all exchanges inflow over the past six months: The 7-day MA value of the metric seems to have been going down in recent days | Source: CryptoQuant As you can see in the above graph, the Ethereum exchange inflows sharply rose up in June and hit a peak. The price simultaneously suffered a big hit due to the selloff. Following this surge, the indicator’s value started to observe a decline. Around when the ETH developers announced the 19th September date for the PoS merge, the coin’s price started making recovery as the inflows continued to trend down. Now the metric finds itself at pretty low values. There has only been one dip below the current values in 2022, which was back in March. These rock-bottom inflow values can imply Ethereum might see more bullish momentum in the near future as long as the selling pressure remains muted. The chart also displays data for the “open interest,” another on-chain indicator that measures the amount of positions currently open in the derivatives market. It looks like the ETH positions have recently seen some growth. An active futures market can result in higher volatility due to excess of leverage, and in this year so far, high open interest hasn’t been constructive for the crypto’s price. ETH Price At the time of writing, Ethereum’s price floats around $1.7k, up 12% in the last week. Over the past month, the crypto has gained 56% in value. The below chart shows the trend in the price of the coin over the last five days. Looks like the value of the crypto has moved sideways recently | Source: ETHUSD on TradingView Featured image from Bastian Riccardi on Unsplash.com, charts from TradingView.com, CryptoQuant.com

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Apecoin DAO community members have approved a governance proposal that will fund a Bored Ape Yacht Club (BAYC)-centric news publication called the Bored Ape Gazette with $150,000 for the first year. While the Bored Ape Gazette has been in operation since June 1, 2021, the site’s operator promises to “keep the community better informed” with […]

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About Seven years ago from today the first ethereum block was mined on the blockchain, the genesis block. It's been sevens years and seven years full of development with their own ups and downs as the infamous DAO hack that had ETH in shambles. But Ethereum grew out of it, devs including Vitalik Buterin improved…
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PRESS RELEASE. July 30, 2022 – Changeangel.io is making its crypto exchange service more attractive to current and prospective users by adding convenient and lucrative Cashback and Affiliate program. Created by cryptocurrency entrepreneurs and developers, Changeangel.io is a quick and a non-custodial way to exchange over 100 coins. “Apart from the security that comes from […]

Does all ERC20 tokens work on polygon L2, or is it just Matic. I don’t see much point because to get on the L2 you have to pay regular fee, so where is the fee reduction part? submitted by /u/WorldSpark [link] [comments]