Category: Cryptocurrency News

https://www.theblockcrypto.com/post/115822/bug-impacting-over-50-of-ethereum-clients-leads-to-fork submitted by /u/carl_von_linne [link] [comments]

Ethereum has resumed its upwards trends in the past hour, as the U.S. Federal Reserves Chair Jerome Powell hints at an extension on their economic stimulus policies. At the time of writing, ETH’s price trades at $3,252 with a 4.4% profit in the daily chart. The bulls returned to the market after almost 3 months of bearish price action. The implementation of EIP-1559, the Ethereum migration to a Proof-of-Stake blockchain, the growth in the DeFi sector, and more seemed to have contributed to the current rally. Via Twitter, pseudonyms analyst CroissantETH shared the many factors that will contribute to Ethereum’s future appreciation in the short and long term. The analyst claimed that ETH is “on its way to becoming a multi-trillion dollar asset”. As a first point, Croissant pointed to the rise in total value locked (TVL) in the DeFi sector. This metric stood at $16 billion at the beginning of 2021 and recently reached an all-time above $85 billion, monitored DeFi Pulse recorded. Ethereum is the most important network in this sector, as it hosts most of the main DeFi protocols, such as Uniswap, Curve, SushiSwap, MakerDAO, Aave, and others. Per its total value locked, the network could occupy the 20th position amongst the largest banks on the planet. As a consequence of this explosive growth, more people are sending their ETH funds into smart contracts. Around 26% percent of ETH’s supply sits at these entities, with a potential continuation of the trend. This dynamic contributes to Ethereum and its deflationary supply. Investors have many incentives to take out their ETH from the market to yield farm on smart contracts, maximize their returns on a DeFi protocol, or stake it on Eth 2.0 deposit contract. Croissant said: The amount of $ETH being staked for ETH 2.0 is now worth upwards of $23B. That’s approximately 6.1% of all $ETH. This is expected to increase significantly after the merge to PoS Ethereum To Benefir From Imminent Supply Shock? In addition, the newly implemented EIP-1559 has been burning millions of dollars in ETH. Over 100,000 ETH have been burn due to this new fee model. Croissant added: IP-1559 has been nothing short of astounding. It introduced fluctuating burns to $ETH acting like a dividend for all users, while simultaneously making tx fees smoother & faster for the network. Additional data suggest a constant drop in the amount of Ethereum available on exchanges, a metric usually associated with bullish price action when trending downwards. As seen below, the ETH balance across all exchange platforms is at 2019 levels. Croissant said: The balance of $ETH held by centralized exchanges continues to drop, nearing levels not seen since three years ago… This indicates that many holders are not aiming to sell soon, and it may be a catalyst of its own if it happens to continue In general, Ethereum’s on-chain activity is up and has surpassed that of its competitors. This translates into the amount of daily value settle on this network estimated at $24 billion in contrast with Bitcoin’s $8.5 billion. The Ethereum ecosystem already dominates some of the most popular crypto trends, from DeFi to NFTs. However, there are many more, such as Gaming and layer two applications, that could create a bigger bullish push beyond previous ATHs and higher.

Dan McDermitt from TheChartGuys says Bitcoin’s growth over the past month has been impressive but a “major catalyst” is needed if BTC is to reach a new all-time high.

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

I'll round off the Moon to $0.3 for ease of calculation. I'm from India and 1 moon here is equal to 22 indian Rupees. Well for my non Indian friends, I'll tell you what 1 moon can buy you here in india. 1 Moon = 3 Samosa (indian Snack), Enough for 1 meal. 1 Moon=…
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While I don’t have 32 eth, I’m hearing people below that requirement can stake. Is it true that there’s a risk for having my eth stolen? I read something about a hack but just watching everyone stake has me jelly submitted by /u/Environmental_Work63 [link] [comments]

Huge BaseFeePerGas, 950 Gwei in peak!! Insane 🤪 But I like to watch how it's BURN 😁🔥 In block #13108616 burned 25.4 ETH wich is $82k+ burned in ~13 sec…. U can watch Ethereum burn-in live here: https://1559.live/ ​ https://preview.redd.it/hrgpyvbgpxj71.png?width=410&format=png&auto=webp&s=df8497c86cd6bbcdaef46c9b6e952a43c5aa2589 submitted by /u/slvDev_ [link] [comments]

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

Bitcoin is the leading investment for MacroStrategy, a division of software company, MicroStrategy. Michael Saylor, who heads up this firm, has always been a BTC maximalist. Saylor has both a personal and institutional stake in the digital asset. MacroStrategy has continued to up its investment in the digital asset since it first started investing. So has its CEO, Michael Saylor. Saylor has never been shy about expressing his support for BTC. The CEO regularly talks about the asset on his Twitter page. Usually encouraging people to consider investing in the digital asset. Now, Saylor has taken to his Twitter account once again to show support for the digital asset. Related Reading | ARK Invest CEO: Bitcoin In “Capitulation Phase,” Still Set For $500k Talking about what is the best store of wealth presently, Saylor had previously put out a poll to his followers on the platform. The options in the poll ranged from well-known modes of investments, alongside BTC. The poll came out in the overwhelming majority for the pioneer cryptocurrency. The safest place to store your wealth over the long term: — Michael Saylor⚡️ (@michael_saylor) August 18, 2021 Following the completion of the poll, Saylor posted a reply to the poll. According to Saylor, bitcoin still remains the safest bet to invest in. The CEO called inflation a safe be. Then said that bitcoin was a safe haven. #Inflation is a safe bet. #Bitcoin is a safe haven. https://t.co/yvzLqwYfYI — Michael Saylor⚡️ (@michael_saylor) August 26, 2021 Related Reading | Why Breaking $49K Is Important For Bitcoin To See Another All-Time High This mostly points to BTC being proposed countless times by investors in the market. The year over year of returns on BTC has far exceeded the growing inflation rate of the U.S. dollar. Hence being a comfortable hedge against inflation. While simultaneously returning profits for the investors. BTC has far outperformed both the S&P, NASDAQ, and gold in its short time being live. U.S. Senator Cynthia Lummis had earlier in the year proposed bitcoin as a way to fight against growing inflation by backing up the U.S. dollar with BTC. MacroStrategy’s Bitcoin Investment At the time of this writing, Saylor’s firm MacroStrategy owns over 100,000 BTC. Amounting to over $5 billion in value. The cost basis for these coins is $2.9 billion. This shows that MacroStrategy has seen 1.8x returns on their initial investments in BTC, according to this report from Bitcoin Treasuries. Another not well-known fact about MicroStrategy is the fact that its board of directors is paid in bitcoin. CEO Michael Saylor believes that bitcoin will be the most disruptive technology of our lifetime. Thus, has made his firm revolve around the digital asset. BTC price recovers from dip | Source: BTCUSD on TradingView.com BTC is currently trading above $48K at $48,238. This is after a dip that had dragged the price of the asset back down to the $46K range. Currently, bitcoin looks to be in an upward trend that will see the asset test $50K before the weekend runs out. Chart from TradingView.com