Category: Cryptocurrency News

submitted by /u/scott240sx [link] [comments]

Keep on going Harmony. submitted by /u/ElectricalAd4028 [link] [comments]

Despite the Ethereum burn introduced with the London hard fork, miners are still making a good amount of revenue from mining. For ETH, the balance held by miners had been dropping since 2016. This was mostly a combination of poor market conditions and miners selling their holdings to fund their mining activities. With low prices, the total dollar value of miners’ ETH holdings had dropped. This number picked back up in 2021. Following the bull run which began in 2020, the price of Ethereum has gradually recovered. And by extension, the dollar value of the miner’s ETH holdings had begun to climb. Current metrics show that the value of ETH held by miners has hit a five-year high. The last time that miners held this much value in ETH had been in 2016. Related Reading | Polygon Founder Says Ethereum Is Set To Replace Bitcoin As The Global Standard Miners’ ETH Holdings Reach New Peak Data analytics firm Sentiment published a report showing the current ETH balances of miners. According to the report, miner ETH balances currently sit at 532.75K ETH, leading to a total balance of more than $1.85 billion. #Ethereum is up to $3,480, the coin's highest price in 16 days. Notably, miner balances have continued to skyrocket. 532.75k $ETH is the largest balance held by miners since July 13, 2016. The value of these coins is $1.85B, easily an #AllTimeHigh. https://t.co/zf2g4ypqiJ pic.twitter.com/atPnYLhAgc — Santiment (@santimentfeed) October 5, 2021 ETH price balances above $3,600 | Source: ETHUSD on TradingView.com The last time ETH miner balances had reached this amount had been in July 2016, shortly after the Ethereum blockchain went live. ETH’s value has grown much higher since the report was published, putting current balance values even higher. This is the highest the value of miner ETH balances has ever been. Additionally, miners have been holding on to their bags. Refusing to sell until the market becomes more favorable. Ethereum Price Recovering To Record Levels The recent growth of ETH has contributed greatly to the increase in the value of the miner ETH balances. This, coupled with increasing hold sentiment among miners, has put miner balances on record levels. But miner balances are not the only ones experiencing a return to record levels. Ethereum price had suffered had in the bloody month of September. This had crashed the price of the digital asset down below $3,000, bottoming out at close to $2,600, a one-month low for the asset. Related Reading | Investors Expect Ethereum To Outgrow Bitcoin, According To CoinShares Survey Now, with current recovery trends, the price of ETH is set to break a new record level. ETH’s recent breakout has positioned the price of the asset well above $3,600. And indicators point to the bull rally pushing the price of the digital asset above $4,000. End-of-year predictions from market analysts have placed the asset at a $5,000 price mark, with bitcoin hitting $100K. It is still too early to tell if Ethereum will hit the price targets set for it by analysts. But the asset is now trading in the green and continues to be favored among crypto investors. ETH’s price is trading at $3,616 at the time of writing. Chart from TradingView.com

The venture seeks to utilize sustainable energy practices throughout the operation process.

As if banks aren’t making enough money with fees ($3 to use a bank machine should be criminal). I’m being charged $14.95 a month as a monthly fee for an account I forgot about. Recently got a message from the bank saying I have a negative $85 balance so they are sharing me ANOTHER $25…
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I actually approve of the scalability of the upcoming ETH2, but I'm curious as to how anyone is able to update a blockchain currency without precluding that there is an owner of the network who decides what happens to it. submitted by /u/getintheVandell [link] [comments]

Blockchain has been one of the greatest advancements we’ve witnessed in the past few decades and maybe even in history. Bitcoin creator Satoshi Nakamoto created it with a view to upend traditional financial institutions and remove the middleman from the majority of transactions. Based on a trustless system where ‘miners’ authenticate transactions through a consensus mechanism, Bitcoin revolutionized the way we use and think about money. Since then a host of technologies have been developed based on the groundwork made by the anonymous Satoshi. Now, Bitcoin, Ethereum, Binance, and many others are now household names in many places. The road to actualization has been rocky and cryptocurrency’s popularity has allowed for new developments within and outside the space. One such innovation is decentralized finance(DeFi). As crypto has gotten increasingly popular, it has also become very centralized with a few big players taking up most of the liquidity and market share. DeFi is the revolt against that. Rather than relying on centralized exchanges, it puts the power back in the hands of the individual users. In place of these intermediaries, it uses programs called smart contracts to automate these transactions and ensure trustlessness. Problems with Decentralization The problem with this decentralization is that it has become fragmented. With new projects popping all over the place, the Defi space can sometimes seem like whack-a-mole. The low barrier to entry means anyone can create a project on any blockchain and with such a plethora of choices native to multiple chains, liquidity becomes a problem. With the number of users constantly migrating into crypto to test its offerings, you would think that liquidity would be a foregone conclusion. However, the popularity of particular centralized exchanges means that they usually get the majority of the new traffic and DeFi is left short-handed. The liquidity problem now slowly begins to become more apparent. The problem is not that there is not enough liquidity but that the liquidity is not efficiently distributed. Some platforms have enough and some are constantly struggling to keep their head above water. Successful Fundraise of $3.2 Million Pontoon Finance’s liquidity mirroring protocol is addressing the liquidity fragmentation issue that hinders the mass adoption of DeFi. In order to provide a relatively better user experience, Pontoon Finance is working towards bringing cross-chain liquidity mirroring along with trustless bridges to make it easier for users to transact seamlessly across various chains. It aims to ease the interactions of users with DeFi applications and diverse blockchain networks. Through its decentralized relayer networks, it aims to make the transactions cost-effective and trustless. Names such as Amesten Capital, X21, Morning Star Ventures, Black Edge Capital, Draper Dragon Funds, Ex Network, and GenBlock are just some of the few that have thrown their backing behind the multichain liquidity project, Pontoon. That support has also been backed up with $3.2 million worth of capital as Pontoon continues its vision of making multichain liquidity a reality. Along with this, they have also gained support in the form of advisors such as Ravindra Kumar the Co-Founder of Frontier Wallet, Sandeep Nailwal the Co-Founder of the popular Polygon Network, Joel John of Ledger Prime, and others. Advanced Roadmap with Incentivized Testnet and Upcoming IDO So far Pontoon is still in its early stages. It is currently working towards auditing its smart contract code and forming strategic partnerships with credible projects in the space. Currently, it has the incentivized testnet ready which would emerge very soon and has finalized its decision to conduct its IDO on cross-chain tool suite, Hot Cross. A successful testnet is paramount for startups and showing a working prototype of your product could bolster investor confidence attracting even more investments and bolstering your project. The project will also be announcing its whitepaper shortly on its social channels. Should the IDO be successful, it could buttress the investments already received, pushing the project’s goals closer to the finish line.

A confluence of at least three different bearish indicators appears on Ethereum’s multi-timeframe charts, suggesting that its ongoing bull run risks exhaustion.

Over the last few days, cryptocurrency advocates have been discussing the Sat Symbol initiative, a goal that aims to get a specifically designed symbol to represent the smallest unit of bitcoin and also get the symbol widely adopted. The Sat Symbol has been promoted by a number of crypto luminaries but others have offered alternative […]