About Ethereum

Ethereum is a decentralized blockchain network providing global smart-contract functionality and decentralized application (dApp) integration. Ethereum is known for its native token Ether (ETH) and is the second-largest cryptocurrency by market capitalization.

The open-source distributed computing platform that powers the ETH network permits active participants to establish digital ledgers publicly ensuring:

As the need for blockchain grows, Ethereum remains a top choice for developers to leverage their DeFi technologies, relying on the blockchains multi-functional and multi-layered ease of access.

Some of the major use-cases of Ethereum so far have been:

These are just a handful of the applications conceived for Ethereum.

Ethereum set the standard for smart contracts, with its network currently servicing more than 1.45 million smart contracts on its blockchain. Smart contracts provide a decentralized protocol to facilitate and verify negotiations that cannot be tampered with or manipulated.

These programmable and self-executing contracts offer transparency since participants are free to view and audit the transaction logs. In addition, the permissionless capabilities of these smart contracts mean that anyone can deploy one.

Apart from smart contracts, Ethereum serves a major role in other areas of decentralized finance (DeFi). Through the use of the networks decentralized apps (dApps), users essentially become their own banks with elevated speed, transparency, and security.

This means there is no need to open accounts or provide personal information. You can get a loan, lend crypto, buy derivatives, and trade using Ethereums decentralized services. Some examples of its DeFi use cases include:

The NFT market gained immense traction in 2021 as tokenized digital items were made available using Ethereum. The networks blockchain provided the necessary platform to run NFT marketplaces whereby users can mint and trade their creations.

In addition, most NFT markets require ETH to conduct trades on the platform. Although other blockchains now provide NFT functionality, it was Ethereum that started it.

ETH remains the leader for NFT integration due to the blockchains highly-secure network and its connection to an entire growing market that gives NFT users maximum exposure.

Ethereum was founded by Canadian programmer Vitalik Buterin, co-founder of Bitcoin Magazine, and Joe Lubin, founder of blockchain software company ConsenSys. Along with Gavin Wood, Charles Hoskinson, and Anthony Di Lorio, an idea to revolutionize blockchain technology beyond a means of virtual payments gave rise to Ethereums legendary inception.

Vitalik, who published Ethereums white paper and introduced it to the public in 2014, spent much of his early days studying mathematics, economics, and programming. His passion for code later expressed itself during his travels when he visited other developers who shared the same enthusiasm.

After being awarded a $100,000 grant from venture capitalist Peter Thiel, he devoted his remaining time and energy to creating Ethereum. The official Ethereum blockchain network went live in 2015 along with its native token Ether (ETH) which followed an $18 million crowd sale.

The goal behind the creation of a new blockchain was to provide a decentralized platform to encourage developers and users to build their own peer-to-peer apps. Using Ethereums network, smart contracts and dApps began to revolutionize the financial sector.

This new way of doing business omitted the need for financial intermediaries and eventually led to the Ethereum Virtual Machine (EVM) Ethereums underlying operating structure. In 2016, due to a system manipulation resulting in $50 million of Ether being stolen, the network experienced a hard forkchanges to the protocolwhich resulted in two separate blockchains, with Ethereum Classic serving as the original.

Since then, seven more hard forks would ensue. Today, much of Ethereums praise comes from the NFT market since it is the main blockchain network that enables users to mint and trade their NFTs.

Ethereums susceptibility to price swings shouldnt come as a surprise considering the extreme volatility of the crypto market. However, a close study of the coins overall price trend certainly proves the long-range potential of the second largest cryptocurrency.

Ethereum made its debut in the market with a token launch price of $0.31 and reached an astounding all-time high (ATH) above $4,880 in November 2021.

During the course of Ethereums price trajectory, the market experienced a couple of bull cycles as well as some catastrophic crashes. When 2017s bull cycle soared ETHs price to $826, Ethereums first major spike was marked.

After a continuous stride of peaks and valleys, ETH gained even more traction in the following year in January, when it reached another ATH of $1,396 before tumbling down and closing the year off at only $141.

However, it wasnt until 2021 when the NFT market exploded, that Ethereum was to receive mass adoption. Ethereums smart contract capabilities fully enabled the minting and trading of NFTs, and because NFT users needed ETH to trade on the platforms, this alone allowed the token price to skyrocket to a whopping $4,0000.

The Ethereum blockchain currently runs on a proof-of-work (PoW) consensus protocola protocol in which computer nodes expend copious amounts of computational power to come to a consensus on the network. The high energy consumption has led to slower and more costly transactions. In an effort to keep the network sustainable and environmentally friendly, a consensus merge is now underway to allow the blockchain to run on a proof-of-stake (PoS) protocol instead.

The merge is a solid representation of Ethereums urgency to provide a more robust architectural infrastructure for a next-generation scaling system. This upgrade, referred to as Ethereum 2.0, aims to resolve the issues surrounding high gas fees and slow transaction speeds that crypto mining operations are implicating.

With the blockchain operating on a proof-of-stake network, proposed validators will handle the validation process followed by an attestation of the other contributing nodes. This ensures consensus without the need to run computational functions as is currently done on a PoW. Moreover, the new consensus model is predicted to reduce energy consumption by 99.95%.

In addition to supporting a more sustainable network, PoS incentivizes the ethereum staking validators for their work by rewarding them with cryptocurrency. In the same fashion, validators are penalized for malicious behavior, giving them more reason to run the system efficiently.

Ethereum co-founder Vitalik Buterin has expressed legitimate approval for the proof-of-stake mechanism, stating that an attack on a PoS is far less harmful and easier to recover from than an attack on a PoW.

Ethereums core developers involved in making the transition a success know that a merge of this magnitude is far too complex, and will require many steps until completion. To increase the number of validators and ensure transactions are processed securely, the Ethereum mainnet needs to merge with the Beacon Chainthe formal consensus layer of PoS which currently holds more than 375,000 active validators.

The Beacon Chain is a separate network that runs parallel to Ethereum and will be responsible for coordinating block activity and selecting validators. Furthermore, the merge will be accompanied by the 2023 introduction of shard chains that should provide extra storage layers for cost efficiency and speed. As per when this all will take place, the merge is currently projected to take effect around September 15, 2022.

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Ethereum Price: ETH/USD & Live Charts

Ethereum co-founder Vitalik Buterin believes that solo validators that choose not to include certain transactions should be tolerated to stop the Ethereum community from becoming the morality police.

Vitalik Buterin made the comment in reply to a Twitter poll from latetot.eth, discussing a hypothetical scenario whereby a validator censors a transaction that doesnt align with their beliefs.

The thread, published on Oct. 17, asked what should happen if a solo validator, in a country at war with another, decides not to process a block because it includes donations to the opposing military force.

According to Ethereums co-founder, the answer for a censorship case should be aligned with the level of transgression.

The post attracted notable attention, as Vitalik explained in the thread that any other answer would potentially lead to turning the Ethereum community into morality police:

In Ethereum proof-of-stake (PoS), validators decide what transactions to include in their blocks if any. PoS is a modern consensus method that powers decentralized finance (DeFi) projects and cryptocurrencies.

Also answering the thread, Martin Kppelmann, co-founder of Gnosis and a long-time Ethereum decentralized application developer, said he agreed with tolerating the validator in that situation while warning about how MEV-boost censorship rising in Ethereum following the Merge.

Although the thread discusses a hypothetical scenario, concerns about censorship in the Ethereum network surged last week, with 51% of Ethereum blocks being compliant with the United States Office of Foreign Assets Control (OFAC) standards as of Oct. 14, as MEV-Boost relays take over market share one month after the Merge.

Related:Ripple wants to bring Ethereum smart contracts to the XRP Ledger

MEV-Boost relays are centralized entities acting as trusted mediators between block producers and builders. All Ethereum PoS validators can outsource their block production to other builders. Due to Ethereums upgrade to a PoS consensus, MEV-Boost has been enabled to a more representative distribution of block proposers, rather than a small group of miners under proof-of-work (PoW).

As noted in a recent opinion piece, Slava Demchuk, CEO and co-founder of AMLBot, the Ethereum upgrade could bring modifications in Anti-Money Laundering (AML) and Know Your Customer (KYC) practices in the crypto industry. He stated:

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Ethereum solo validators that censor blocks should 'be tolerated' Buterin - Cointelegraph

1. The 'Merge' did not fix Ethereum  Financial Times
2. Ethereum price in danger of a 15% pullback as ETH supply in loss hits 4-month high  FXStreet
3. Ethereum Price Is Unstoppable and Why Break Above $1,400 Seems Imminent  NewsBTC
4. Pay No Attention to the Price of Bitcoin and Ethereum  Decrypt
5. 2 key Ethereum price indicators point to traders opening long positions  Cointelegraph
6. View Full Coverage on Google News

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The 'Merge' did not fix Ethereum - Financial Times

Big Eyes Coin (BIG) is growing each day rapidly in its presale, and the crypto community is excited as it looks to explode before Christmas.

The question on everyones mind is, will Big Eyes (BIG) bring the bulls back and reach the top of the rankings with other high-ranking cryptocurrencies like Ethereum (ETH) and Solana (SOL)?

Lets see if we can predict Big Eyes (BIG) rise to fame and what the next few months will bring.

The Big Eyes Coin (BIG) is a meme coin currently growing in the 5th stage of its presale. It has raised 7.5 million at the time of writing and is set to race through its presale stages with an average of 500k per day.

The meme coin is a community token created with the aim of bringing purpose and value into the wider crypto ecosystem. This coin has got people interested and engaged from within and without the world of crypto, starting with its charitable drive to save the oceans.

The Big Eyes Coin team has earmarked 5% of its total supply of 200,000,000,000 tokens to donate to a charity that is currently working to protect and preserve our oceans and the sealife within them.

These tokens will be held in a visible charity wallet so everyone can rally around a cause that centers their future and that of the planet.

Big Eyes Coin (BIG) is making it super easy to be a part of positive, sustainable action; with its low entry barriers to investing and tax-free shopping, everyone can invest and at the same time support the continued efforts to save our natural resources.

The timing of Big Eyes Coin (BIG) presale and subsequent launch is significant. It coincides with the Merge, which saw Ethereum (ETH) update 2.0 to proof-of-stake (PoS) systems.

This highly anticipated switch to PoS means that cryptocurrency has finally managed to adapt its systems to create a much more sustainable mining alternative.

This shift was initially started by Solana (SOL), but now that other older blockchains have also updated to PoS, there is no longer a barrier between sustainably conscious investors and crypto.

This Merge has therefore welcomed a whole new potential market to the crypto community, and Big Eyes (BIG) sustainable core values are already attracting large swathes of investors who are now at ease with the wider crypto ecosystem.

With this influx of new potential investors, its likely that Big Eyes (BIG) will thrive. It has a long way to go before it reaches the heights of Ethereum (ETH), but with its core sustainable values and cute meme qualities, it is likely to shine in a market full of new buyers with sustainable standards.

Solana (SOL) was created to be more efficient and scalable than its predecessor Ethereum (ETH). Based on the proof-of-stake (PoS) and proof-of-history (POH), this cryptocurrency can manage 250 transactions per second. This makes it very attractive to businesses that want to streamline their global operations and finances.

With inflation and costs rising, cryptocurrencies like Solana (SOL) will thrive because they can decrease costs and save people time and money, two very valuable commodities.

Big Eyes (BIG) is also keen to save people money wherever possible and create wealth for everyone. Big Eyes (BIG) has therefore canceled taxes on shopping and fees. This will help more people invest and more people join the community.

There are some really good signs that Big Eyes will succeed in the current market because of its sustainable core values and community focus. I think a lot of people wont be surprised when Big Eyes Coin races up the crypto rankings.

Big Eyes is currently offering a bonus code to use when purchasing BIG tokens. Use this code to get more BIG: BEYES821

Big Eyes Coin (BIG)Presale | Website | Telegram

DisclaimerAll the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

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Will Big Eyes Coin Reach Heights of Ethereum and Solana? - BeInCrypto

What happened

The incredibly unpredictable price action seen in the cryptocurrency sector is once again in full focus today. In aggregate, the crypto market has moved meaningfully in tandem today, with the overall market rising a little more than 1.5% over the past 24 hours, as of 1:45 p.m. ET.

That said, megacap tokens Bitcoin(BTC -1.84%), Ethereum(ETH -2.50%), and Cronos(CRO -0.87%) remain in focus for most investors, given the size and importance of these key blockchain projects. As of 1:45 p.m. ET, these three tokens surged 1.8%, 2.8%, and 4.4%, respectively, over the past 24 hours.

Interestingly, Bitcoin's move (which was the smallest of the three) follows an 85-minute window on Monday in which no blocks were produced. A difficulty adjustment appears to be tied to this issue, which raised eyebrows in the crypto world.

Other top tokens like Ethereum and Cronos have their own individual catalysts and headwinds. This week, it was announced thatXRPis beginning to test a side chain compatible with Ethereum smart contracts. And Cronos has been benefiting from recent gaming-related updates, which have investors intrigued in this blockchain project's growth potential.

That said, the potential for further interest rate hikes by the Federal Reserve continue to provide headwinds for all risk assets. This makes the price action in these top tokens even more difficult to understand.

There's some very wonky thinking that appears to be taking hold in the markets right now. Given last week's hotter-than-expected CPI and PPI prints, most investors initially took the view that this would lead to more rate hikes, which are bad for risk assets. Cryptos, equities, and bonds sold off immediately on the news.

However, the past few days have seen some bullish momentum return, as some appear to be taking the view that more rate hikes in the near term could lead to a recession in the medium term. Such a recession could result in lower interest rates sooner than expected.

This second-derivative sentiment appears to be at play once again today, with the majority of near-term catalysts appearing to represent net negatives for cryptos still.

The difficulty of forecasting monetary policy decisions remains extremely high, and with most experts failing to see the inflation we're now battling, one could argue that any sort of forward-looking forecast is likely to be incorrect. Such is the nature of forecasts.

That said, the idea that we could be due for lower interest rates in the medium term, as the Federal Reserve breaks something, is one that's starting to gather steam. For risk assets such as cryptos, a return of cheap(er) capital to the system could be the catalyst to drive valuations another leg higher. We'll have to see what happens in the months and quarters to come, but suffice it to say, there's plenty for investors to digest right now.

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Crypto Surges: Is Now the Time to Buy Bitcoin, Ethereum, and Cronos? - The Motley Fool

Joe Lubin, the Ethereum co-founder and CEO of crypto software giant ConsenSys, is confident that the metaverse will one day encompass the full human experience. But hes equally confident that day is still years away.

I think [using the metaverse today] is a little bit like logging on to the internet in 1994, Lubin told Decrypt in an exclusive video interview earlier this month. Where you would dial the internet, and I used to go get a coffee and breakfast and then Id come back, and my email would be downloaded.

Though Lubin acknowledges that the user experience currently offered by metaverse projects is comparably clunky, hes adamant that the metaversea future, immersive version of the internetwill become as ubiquitous as email.

The experience of being in Web3 isn't as compelling as it will be pretty soon, Lubin said. That's when the masses will be there.

The ConsenSys CEOs comments come during a period of unprecedented interest in the metaverse from some of the most powerful companies in the world. Meta, formerly Facebook, has fully reoriented its efforts towards dominating the metaverse; Apple and Disney are quietly exploring the space; even traditional brick-and-mortar brands like WalMart are diving in, head-first.

Despite forays into virtual worlds by mega-corporations and web3-native companies alike, however, the metaverse still has yet to catch on as the accessible, entertaining, and smooth-functioning virtual haven it was initially promised to be.

For example, despite going all-in on the metaverse, Meta has only staggering losses in the tens of billions to show for its work. A report surfaced earlier this month that the division responsible for building Metas virtual reality platform, Horizon Worlds, has entered a quality lockdown until the end of the year, as the platform is so unpopular and difficult to navigate that even Metas own employees wont use it.

Some have attributed these early bumps in the road to the simple fact that technology needs to spend a few years catching up to the ambitions of metaverse builders before immersive online worlds can truly flourish. Lubins Ethereum co-founder Vitalik Buterin has stated that while he believes the metaverse will one day dominate commerce and culture, he doesnt believe any of the existing corporate attempts to intentionally create the metaverse are going anywhere.

Lubin similarly thinks that current understandings of the metaverse, and attempts at building it, may not end up working out the first time around. But that doesnt mean hes any less bullish on the promise of platforms that facilitate an immersive online existence.

Call it the metaverse, we will spend a lot of our time online, Lubin said. And our money and our work and our activities will be realized in either augmented reality or virtual reality, or at least with tools that enable us to live rich and hopefully compelling experiences online.

(Disclosure: ConsenSys is one of22 strategic investorsinDecrypt.)

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Ethereum Co-Founder Joe Lubin: Today's Metaverse Is Internet Circa 1994, But the Masses Are Coming - Decrypt

Ethereum Classic price continues to sink deeper into the abyss, with declines from its most recent high at $45.66 seemingly unstoppable. The PoW (proof-of-work) token may have lost its charm, with investors pulling the rug immediately after the Ethereum Merge in September.

ETC has annihilated various key support areas at $35.00, $30.00 and $25.00 in its futile hunt for solid support. Ethereum Classic price now depends on near-term buyer congestion at $22.00 to validate a falling wedge pattern ahead of a foreshadowed move to $27.30.

The Stochastic RSI on the daily chart reveals that Ethereum Classic bulls are in the process of reclaiming control. First, they defended support at $22.00 and later pushed above $23.00 amidst highly oversold conditions.

A falling wedge is a bullish reversal pattern drawn by connecting an assets lower highs and lower lows using trend lines. As selling pressure gradually decreases into the patterns apex, the price tends to break above the upper level of resistance. A strong trend to the upside starts building as the price breaks above the wedge.

ETC/USD daily chart

Ethereum Classic price will be poised for a 15% bullish recovery if it leaps above the upper trend line resistance. Traders hoping for long positions in ETC will find this a strong buy signal.

The TD Sequential indicator has recently flashed a buy signal on the same daily chart. A red nine candlestick represents the call to buy into ETC while it gears up for a trend reversal. Bear in mind that buy orders are recommended if the low of the sixth and seventh candles is exceeded by that of the eighth and ninth bars in the count; see the chart below.

ETC/USD daily chart

Ethereum Classic price recovery might be a pipe dream on the other side of the fence, considering the drop in on-chain volume. Apart from minor sporadic spikes, the volume of transactions (335 million) on the Ethereum Classic blockchain is a meager reflection of the 5.47 billion in July 2022.

Ethereum Classic on-chain volume

A careful observation of this metrics impact on ETCs performance shows that such an extended drop inhibits price growth. Therefore, Ethereum Classic price may struggle with the expected uptrend. Investors hoping for another run to $45.66 may have to exercise patience as ETC navigates the stubborn bear market forces.

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Tug of war intensifies as Ethereum Classic price grinds closer to a 15% breakout - FXStreet

Bitcoin (BTC) price is in the process of breaking out from a descending wedge. If successful, it would be expected to increase to $22,500. Ethereum (ETH) is trading in the upper portion of a corrective pattern. An eventual breakout is expected.

Even though the XRP price is trading inside a neutral pattern, the preceding trend indicates that an eventual breakout is expected.

BTC price has been falling underneath a descending wedge since reaching a high of $25,211 on Aug. 25. The descending wedge is considered a bullish pattern, meaning that a breakout from it is expected.

So far, the BTC price has reached a low of $18,125 on Sept. 21. The low seemingly caused a breakdown from the $18,800 horizontal support area.

Nevertheless, Bitcoin price regained its footing shortly afterward and reclaimed the support area, rendering the preceding breakout as only a deviation (green circle). This is a sign that often precedes movements in the other direction.

Moreover, the price of Bitcoin created a bullish hammer candlestick on Oct. 13 (green icon), further supporting the possibility of a breakout.

Finally, the bullish divergence trend line in the daily RSI is still intact, and the indicator is in the process of moving above 50.

If a Bitcoin price breakout occurs, the closest resistance area would be at $22,500.

So, there are numerous signs that suggest the most likely BTC price prediction is an upward movement toward $22,500.

ETH price has been falling underneath a descending parallel channel since Aug. 14. Similar to the descending wedge, the descending parallel channel usually leads to breakouts.

While decreasing inside it, the ETH price fell to a low of $1,190 on Oct. 13. While it initially seemed that this had caused a breakdown below the $1,280 horizontal support area, the Ethereum price reclaimed the area shortly afterward and created a long lower wick (green icon).

Afterward, ETH price moved above the middle of the channel. This is a sign that an eventual breakout is expected.

Additionally, the daily RSI is in the process of breaking out from its bearish trend line (green line), validating the possibility of an upward movement.

In a similar fashion to Bitcoin price, there are several signs that point to an Ethereum price breakout:

Unlike BTC and ETH, XRP price is trading inside a symmetrical triangle, which is considered a neutral pattern. However, since the pattern is transpiring after an upward movement and breakout from an ascending parallel channel, a breakout from it would be the most likely scenario.

Additionally, the growing hidden bullish divergence in the RSI (green line) is another sign that a breakout is expected.

If one occurs, the next closest resistance area would be at $0.64. This is both a Fib and horizontal resistance area.

A decrease below the wave C low of $0.44 (red line) would invalidate this possibility and indicate that XRP price is correcting instead.

While the price prediction is less bullish than those for BTC and ETH, the hidden bullish divergence and the preceding breakout from the channel support the continuation of the upward movement.

For BeInCrypto latestBitcoin(BTC) analysis and crypto market analysis,click here

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DisclaimerAll the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

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Bitcoin, Ethereum and XRP Price Prediction: On the Verge of Collapse - BeInCrypto

Ripple users may be able to interact with Ethereum-compatible decentralized applications (DApps) in the future following the launch of a test phase of Ripples new XRP (XRP) Ledger sidechain.

The launch of the sidechain was shared in a Tweet by blockchain development firm Peersyst Technologies on Oct. 17, noting that the new sidechain is compatible with Ethereum Virtual Machine (EVM).

This means that Ripple users could eventually have access to DApps like Uniswap (should it port over) and Web3 wallets such as MetaMask and XUMM Wallet.

The new sidechain also comes with a cross-chain bridge built to transfer XRP and other assets between the EVM-supported sidechain and the XRP Ledger Devnet.

According to RippleX software engineer Mayukha Vadari, the release means developers no longer have to choose between XRPL or EVM-compatible blockchains.

Developers will also be able to access XRPLs fast low-cost transactions and bring Solidity-based smart contracts onto XRPL, he said.

The XRP-based EVM-compatible sidechain was custom-built by the Tendermint protocol and aims to process 1000 transactions per second (TPS).

Vadari noted that the first phase of the EVM sidechain is now currently available for testing on the XRPL Devnet. Phase two will see the EVM-compatible sidechain transition to a permissionless chain with improved scalability.

Vadari said the aim is to achieve block times similar to that of the XRP Ledger for the second phase, which looks set to roll out in early 2023.

The end goal is phase three: a permissionless EVM sidechain and bridge available on the XRPL Mainnet, she added.

Related: Evolve or die: How smart contracts are shifting the crypto sectors balance of power

The news didnt appear to affect the price of Ripples XRP token too much, which is currently priced at $0.476 and is up 23.86% for the month.

The latest announcement comes amid a nearly two-year-long lawsuit against Ripple by the U.S. Securities Exchange Commission (SEC), which has arguably affected the adoption and development of the global settlement network.

Ripple also continues to make moves in the central bank digital currency(CBDC) spacesince it first piloted a CBDC Private Ledger for banks in March 2021, having most recently partnered with The Royal Monetary Authority of Bhutan in Sept. 2022.

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Ripple wants to bring Ethereum smart contracts to the XRP Ledger - Cointelegraph

Two of the biggest cryptocurrencies that rank just below Bitcoin are homophones of sorts. For quite some time, Ether (ETH) and Tether (USDT) became a cause for confusion for early cryptocurrency enthusiasts. Tether, however, is not only spelled differently and is an independent project but it is also not a typical cryptocurrency like Bitcoin or Ether. USDTs value must always match with that of the US dollar due to the 1:1 peg, which makes it a stablecoin.

Another question that many ask is whether Tether is based on Ethereums blockchain. Every cryptocurrency, including stablecoins, needs a distributed ledger to operate on. Does Tether use Ethereums network or does it have its own blockchain protocol? Let us explore the Tether ecosystem to find answers and understand the core characteristics of the stablecoin.

Tethers ecosystem comprises tokens but is not an independent blockchain. In Bitcoin, Ether, and other cryptocurrencies like Solana and Cardano, the cryptocurrency comes with a native blockchain protocol. Tether, however, is a plain stablecoin ecosystem where new tokens are issued with a claim that every USDT is backed by adequate reserves.

Tether is said to have begun with Bitcoins blockchain as its transport protocol. Here, tokens could be moved on the Omni Layer, but soon the use of Ethereums blockchain was favoured. Notably, Ethereum bills itself as a network for developers seeking to deploy decentralised products. One such product is ERC-20 tokens, and Tether falls in the same group. In fact, it is the biggest ERC-20 token by market cap. Tethers ecosystem also advises users to carefully undertake the transfer of tokens since it also uses other blockchains aside from Ethereum as a transport protocol.

Data provided byCoinMarketCap.com

Ether is the primary cryptocurrency of Ethereums mainnet with its utility as a payment token. Tether, on the other hand, is not a native cryptocurrency of any blockchain protocol. It is a token that can be issued on any blockchain network, including Ethereum, Algorand, and Solana. Tether bills itself as a digital token for quick payment transfers using blockchain, with a 1:1 value peg with the US dollar.

Tether uses blockchain technology to support the movement of USDT tokens from the sender to the recipient, with both having a specific address within the network. This blockchain can be Ethereum or any other, including Bitcoin. Tether now issues tokens pegged not only to the US dollar but also to other fiat currencies, including the Chinese yuan and the euro.

Risk Disclosure: Trading in cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory, or political events. The laws that apply to crypto products (and how a particular crypto product is regulated) may change. Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading in the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed. Kalkine Media cannot and does not represent or guarantee that any of the information/data available here is accurate, reliable, current, complete or appropriate for your needs. Kalkine Media will not accept liability for any loss or damage as a result of your trading or your reliance on the information shared on this website.

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Is Tether (USDT) built on Ethereum blockchain? - Kalkine Media

In June 2021, Kim Kardashian published an Instagram story informing her approximately 330 million Instagram followers about the EthereumMax (EMAX) crypto token. The Securities and Exchange Commission (SEC) charged Kardashian, claiming she violated the anti-touting provision of the Securities Act when she failed to disclose she received $250,000 in exchange for her promotion of the unregistered security.

The charges incited a public debate is the requirement to disclose the amount paid to promote an investment opportunity important?

Whats new? Celebrities and social media influencers have long enjoyed a lucrative revenue stream in promoting and endorsing services and products ranging from clothing to beauty products, and even supplements and medications. The Federal Trade Commission (FTC) regulates endorsements by requiring various acts and disclosures, including whether a financial relationship exists between the endorser and the company, whether a post was paid for and even by requiring an endorser to personally try a product before endorsing it. Still, the FTC does not go so far as to require endorsers to disclose the amount they were paid to promote a product.

Related: The SEC is bullying Kim Kardashian, and it could chill the influencer economy

So, whats different here? This time, the product is an investment opportunity falling under the watchful eye of the SEC. As is required by the FTCs Endorsement and Testimonial Guidelines, Kardashian made sure to include disclaimers such as #Ad and even this is not financial advice, but thats not sufficient under the SECs regulations, which also required Kardashian to disclose that she was paid $250,000 by EthereumMax to tout the token.

The SECs charges in response to Kardashians seemingly compliant post revealed what appears to be the beginning of the federal agencies heightened regulation and required transparency in connection with endorsements, specifically of highly speculative assets. The charges also beg the question just how much transparency is important?

Some will argue that Kardashians #Ad and this is not financial advice disclosures which would suffice under the FTCs requirements are enough to place her followers on notice that she is a biased, interested promoter of EthereumMax, and that the SECs anti-touting provisions requirement to disclose the exact amount of consideration is senseless. In other words, merely disclosing that she was paid $250,000 to promote the token would not have made a material difference to her followers in their decision to invest.

However, whether or not a particular disclosure is material to a potential investor is a question best answered by the investor in question. The SECs existence is predicated on protecting the investing public. To do so, potential investors should receive as much information as possible to assist them in their decision-making.

Although the difference between celebrities receiving $100,000 versus $200,000 for a social media post may not appear material to investors, a $1,000,000 check may alter potential investors perception about a celebritys inclination to make statements that conflict with or disregard their true beliefs, experience or even lack of knowledge. This tipping point in judgment may differ from investor to investor; therefore, such information should be disclosed and freely evaluated by the investing public.

The trend toward broader disclosure is prevalent. The FTC recently proposed an amendment to its Endorsement Guidelines on Digital Advertising to address the growing influencer market. Of relevance is Section 255.5, Disclosure of Material Connections, which proposes the clear and conspicuous disclosure of material connections that may materially affect the weight or credibility of the endorsement, including business, family, or personal relationships; monetary payments; the provision of free or discounted products or services to the endorser; early access to the product; or the possibility of winning a prize, of being paid, or of appearing on television or in other media promotions.

Related: Federal regulators are preparing to pass judgment on Ethereum

With such disclosures, the appeal of investing in the same companies as their favorite celebrities and influencers might be lost if fans realized the only connection between a celebrity and a promoted product was a hefty check. On the other hand, if followers are aware of a material connection between a celebrity and an endorsed product, they may be even more inclined to invest. Regardless, the argument remains the more information disclosed to the investing public, the more educated their decision-making can be.

SEC Chairman Gary Gensler wasted no time making media appearances to echo the same, warning the general public that celebrities incentives arent typically aligned with consumers best interests. In the SECs press release, Gensler emphasized that celebrities and influencers must be mindful that the law requires them to make heightened disclosures to protect individuals who may rely on them for financial advice.

Celebrities wield significant influence on their fan bases. Many who endorse investment opportunities do not have sufficient expertise to ensure that the investment is appropriate and complies with U.S. securities laws. As a result, celebrities such as Kardashian have the power to influence millions of individuals to make uninformed decisions solely based on their admiration, trust and loyalty.

Kardashians $1.6 million settlement is a reminder that the SEC has an exceptionally high interest in regulating highly speculative asset classes like crypto tokens and will continue to press charges against those with a great deal of influence for unlawfully touting crypto securities. The investing public should beware and always conduct their independent due diligence. The SEC should continue to require broad disclosures from endorsers to allow for and support such due diligence.

Gai Sher is senior counsel in the innovation and technology practice group and the corporate & business and entertainment & sports practice groups at Greenspoon Marder LLP. Originally from Israel, she attended Syracuse University for her undergraduate degrees before obtaining a Juris Doctor from Northeastern Universitys School of Law.

Ariela Benchlouch is a law clerk in Greenspoon Marder's innovation & technology practice group. With a background and passion for entertainment law, music, fashion, media, and blockchain technology, she previously held legal intern roles at LAA Sports & Entertainment and PlayOne NFT.

This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the authors alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

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Kim Kardashians Ethereum Max ad violated the SECs anti-touting provision - Cointelegraph

Silvergate Capital Corp SI shares are trading lower by 15.70% to $59.68 during Tuesday's session after the company reported worse-than-expected third-quarterEPS and sales results.

What Happened?

Silvergate Capital reported quarterly earnings of$1.28per share which missed the analyst consensus estimate of$1.34.The company also reported quarterly sales of$89.34 millionwhich missed the analyst consensus estimate of$100.35 millionby11%. This sales figure representsa73%increase over sales of$51.70 million in the same period last year.

Alan Lane, president and chief executive officer of Silvergate, commented, "Silvergate delivered another quarter of strong performance, achieving record net income available to common shareholders of$40.6 million. While volumes on the Silvergate Exchange Network (SEN) decreased this quarter compared to the overall industry, we remain confident in the power of our platform and the opportunities for expansion within the network."

"We continued to see demand for our SEN Leverage product and growth in our new customer pipeline, a testament to the strength of our platform against a challenging backdrop in the broader digital asset industry," Lane stated.

See Also:As China Weakness, PC Market Downturn Take Toll On Semiconductor Sector Ahead Of Q3 Results, Analyst Recommends These Chip Stocks

According to data fromBenzinga Pro, Silvergate Capitalhas a 52-week high of $239.26 and a 52-week low of $50.65.

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Why Bitcoin- And Ethereum-Related Stock Silvergate Capital Is Getting Hammered - Silvergate Capital (NYSE - Benzinga

An Ethereum (ETH)-based altcoin is rallying following news that top US crypto exchange Coinbase has added the project to its listing roadmap.

Lido DAO (LDO), a staking service for Ethereum and other blockchain projects, has seen more than a 16% price increase in the days following Coinbases announcement via Twitter.

For transparency purposes, Coinbase adds projects to its listing roadmap as a precursor to making them available for trade on its exchange and announces the additions via Twitter.

Lido DAO and its ERC-20 token LDO aims to allow users to stake ETH without locking assets or maintaining infrastructure. When staking on the platform, users receive Staked Ether (stETH) on a 1:1 basis representing their staked ETH, and stETH balances can be used like regular ETH to earn yield or rewards.

At the time of the Coinbase announcement three days ago, the price of LDO was changing hands near $1.25. At time of writing, LDO is trading at $1.46, an almost 17% increase in price.

The Ethereum-based altcoin has a market cap of $1.01 billion, and is about 80% down from its all time high of $7.30.

Coinbase CEO Brian Armstrong previouslysaid the exchange would list as many crypto assets as possible after meeting simple standards.

Its kind of like Amazon or something like that where a product might have three stars or it might have five stars, but if it starts to get one star consistently, its probably fraudulent or defective or something and maybe Amazon will remove it. Otherwise, you want to let the market decide what these things are

My belief is theres gonna be millions of these assets over time, and so I hope it doesnt make news every time we add one in the future, basically.

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Ethereum-Based Altcoin Project Jumps After Crypto Exchange Coinbase Adds It to Listing Roadmap - The Daily Hodl

Crypto analytics firm Santiment says that virtual reality blockchain Decentraland (MANA) is quietly flashing an on-chain signal that has previously foreshadowed exponential rallies for the altcoin.

According to Santiment, MANAs profit/loss ratio, which compares the amount of coins sitting at a loss to those at a profit, is sitting at three-year lows.

The last time the profit/loss ratio was at the current level, MANA exploded 610%, as per Santiments data.

Decentraland is a fairly under-the-radar ERC20, non-fungible token (NFT) and virtual reality asset that saw its market cap shrink in 2022.

The profit/loss ratio of MANAs transactions is at its lowest level in three years. Those following six weeks saw its price rise +610%

At time of writing, the Ethereum-based altcoin is trading for $0.63, down over 89% from its all-time high of $5.85. A 610% gain for MANA would mean a rally all the way up to the $4.47 range.

Santiment also has its radar on leading oracle network Chainlink (LINK). According to the firm, LINKs price movements as of late are being preceded by massive spikes in social media activity.

Chainlinks market cap dropped ~5% Friday before bouncing just as the days trading (UTC time) closed. Three social dominance spikes appeared for LINK, indicating traders were making moves. The latest occurred just as the price began rising again.

Looking at Ethereum (ETH), Santiment says that ETH whales and sharks have been pushing down the price over the last five weeks. Based on the firms data, Ethereum addresses holding between 100 and one million ETH triggered both the relief rally in August and the correction of last month.

Ethereums shark and whale addresses (holding 100 to 1M ETH) have dropped 3.3 million ETH in just the past five weeks. This equates to about $4.2 billion in dumped coins. The assets price vs. Bitcoin has ebbed and flowed based on behavior of these key stakeholders.

At time of writing, ETH is trading for $1,308, up 1.66% in the last 24 hours.

Featured Image: Shutterstock/solarseven/Dario Lo Presti/Andy Chipus

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Ethereum-Based Altcoin Flashing Signal That Preceded 610% Rally: Crypto Analytics Firm - The Daily Hodl

According to a new Messari report, USDC was observed to be losing traction in the stablecoin market. BUSD on the other hand, was witnessing some growth. With new coins entering the stablecoin market and the ever-growing competition, it may become difficult for USDC to maintain its standing in the market.

One indicator of things not going USDCs way would be its dominance on Ethereum [ETH]. USDCs dominance on the ETH network fell 5% since July. Meanwhile, BUSDs dominance over the same network increased by the same 5% in the same time frame.

The USDC dominance, in early July 2022, had peaked and captured 44% of the Ethereum network. However, it slipped down to 39% at the time of press according to Messari. However, despite losing out on its dominance on the Ethereum network, the stablecoin managed to perform relatively well on Layer2 chains.

As can be seen from the image below, USDC grew significantly on L2 rollups, such as Arbitrum and Optimism. USDCs dominance on the OP network stood at 58%, while on Arbitrum stood at almost 75%.

Even though there was high dominance of USDC observed on both of these protocols, one of the reasons for the growth in the protocol could be attributed to the fact that simply fewer stablecoins were used on these L2s.

Taking a look at USDCs network growth on multiple networks could also give us an insight into the stablecoins future. As can be seen from the image below, the network growth on all three networks (Blue: Ethereum, Green: Optimism and Red: Polygon) declined over the past month.

This indicated that the amount of new addresses that transferred a USDC for the first time declined. This implied that new addresses were losing interest in the stablecoin.

However, over the past few days, there was an uptick in USDCs network growth on the Polygon network a good sign for USDC.

Despite USDCs fluctuating dominance, it was observed that it still maintained lead in terms of transfer volume. As can be seen from the image below, USDC accounted for 54.5% of the stablecoin transfer volume at press time.

At the time of writing USDC also stood second in terms of market capitalization at $45 billion. Its volume also registered a growth of 10.39% in the last 24 hours.

Even though BUSD showed some improvements, the stablecoins market cap was at 21 billion and still had a long way to go to catch up with USDT and USDC.

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What USDCs diminishing dominance on Ethereum means for the stablecoin - AMBCrypto News

Last weekend saw the lowest trading volumes in months with the risk of creating strong price swings with large orders from a few traders.

Just as happened on Thursday 13 or Friday 14 October, a few leveraged orders caused a sharp increase in volatility then recovered over the weekend with prices falling back into the narrow trading range that for the entire week has caged prices within slightly more than $1,000 for Bitcoin and only $190 swings between the extreme low and high points for Ethereum.

A technical condition that is further driving down the volatility index that has slipped to its lowest levels in the last quarter.

Sentiment as measured by the Fear&Greed index also returns for the umpteenth time the 10th in the past 2 months to test the lowest threshold that opens to the Extreme Fear range indicating how tense nerves remain among crypto market participants.

The trend of the last few days does not change the overall technical picture with prices trying to recover the psychological threshold of $20,000.

The technical threshold to follow is the 20,500 area. Only a breach of this resistance level, accompanied by buying volumes, would begin to give a first sign of a desire to reverse the trend.

Similar technical structure for ETH with the advantage of having a better margin of safety in case of any descent.

Unlike Bitcoin, the price slide of the past few days did not go below the levels of the annual lows marked last June, confirming the safety zone where the price rebounded again by climbing back above $1,330, a step away from the relative highs recorded last week ($1,340).

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Analysis of Bitcoin (BTC) and Ethereum (ETH) - The Cryptonomist

After the move to PoS, the SEC wants to impose the Know Your Customer practice on Ethereum staking.

Over the past two years, the cryptocurrency industry has had to endure numerous attacks both from the US political world, but especially from the SEC, the US financial market regulator led by Gary Gensler, which has put many cryptocurrency companies under fire.

The sensitive issue revolves around treating cryptocurrencies as securities, which, since they are not regulated, would violate the SECs own established principles for securities.

Clearly, the most striking case is the one in which the SEC is engaged in a trial, which has been going on for about two years now, against Ripple, accused of having sold in 2020 securities without having the authorization to do so. The case finally seems to be coming to a head, considering that Ripple has asked the court for an abbreviated judgment, after having achieved a series of trial successes, which seem to have put the SECs back against the wall.

But Ripple is only the most sensational case, but there are many other instances in which the SEC has tried to put a spoke in the wheels of the development of the crypto sector in the world of finance, such as when it continues to ban the issuance of spot ETFs, and that is, directly parameterized on the prices of the underlying Bitcoin.

In this regard, in recent months Grayscale has sued the Gensler-led exchange authority, challenging the latters decision to deny its request to convert the Grayscale Bitcoin Trust (GBTC) into a spot Bitcoin ETF.

Just as some exchanges such as Binance had to undergo investigations again by the SEC for an alleged violation of the regulatory regime on the sale of unauthorized tokens. Similarly, the SEC sued the company BlockFi for selling a crypto lending product. In February, the company settled the dispute by paying a $100 million fine.

But now the indiscretion coming from some industry observers and analysts is that the US authoritys next target could be Ethereum after its new Merge update, which could pose some issues again on the selling side of securities.

Immediately after the new update went live that initiated the Proof of Stake consensus system instead of the Proof of Work system, SEC Chairman Gary Gensler said that these types of cryptocurrencies that use this system should be considered securities for all intents and purposes and should be treated as such from a regulatory perspective.

Gensler pointed to the profit that would be derived from PoS, which would be a profit made from the effort. This fact would be one of the crucial points of the famous Howey test, used by the SEC to determine whether an asset is an investment product, and therefore must be subject to the rules set by the SEC.

Staking, according to the SEC Chairman, would be for all intents and purposes comparable to lending services, and therefore should be carefully subjected to the strict rules set by the financial authorities to avoid risks of fraud and criminal acts.

And that is why the US authorities would like all Ethereum validators to be subject to Know Your Customer (KYC) and AML regulations, which would be the anti-money laundering regulations.

The large presence of Ethereum blockchain nodes on US soil would also bring Ethereum under US jurisdiction, which is why it is very likely that the authorities will soon require all companies and developers working on the blockchain to comply with the rules set forth by KYC, which is designed to protect financial institutions from fraud, corruption, money laundering and terrorist financing. Know Your Customer involves several steps to

It may be very complicated that companies such as crypto companies can easily fulfill such procedures, considering the nature of disintermediation and decentralization that characterizes them.

Then again, once crypto companies manage to comply with these rules, it will become much easier for some institutional investors to approach the cryptocurrency market.

But going back to the SEC in recent months, they seem to be very concerned about the development of DeFi, which in large part makes use of Ethereums very own blockchain, and here the change made by Ethereum could offer the US authority the casus belli to attack the sector and succeed in regulating it to avoid distortions that could, in its view, jeopardize the stability of the traditional financial system.

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Ethereum PoS: the SEC wants to enforce Know Your Customer on staking - The Cryptonomist

The Bored Ape Yacht Club (BAYC) is an exclusive community for holders of the ape and mutant themed NFT collections on Ethereum's blockchain. Commonly referred to as the Bored Apes, only 10,000 generative art pieces will ever be in existence.

What happened: Bored Ape #7250 just sold for 82.00 ETH ETH/USD ($107,412 USD). The value of Bored Apes is typically determined by the Ape's attributes, with the laser eyes, crown, and golden fur traits being the most coveted.

Here are a list of its attributes and how many others have the same trait:

Why it Matters: Bored Apes are the ultimate store of culture for NFT collectors. The NFT collection has gained huge influence in 2021, with an ever growing list of top tier celebrities making apes their profile pictures on Twitter. With the recent explosion in popularity surrounding the Metaverse, rare blockchain-based avatars are all the rage for those looking to flex online.

Being a member of the Bored Ape Yacht Club is not just about flexing online. Yuga Labs, the creators of the Bored Apes throw exclusive parties often with free private performances from members of the club such as Lil Baby. Other notable celebrities in the club include Post Malone, Stephen Curry, Dez Bryant, and Jimmy Kimmel.

Yuga Labs also created another NFT collection known as the Mutant Apes, which also provides membership to the elusive club. There are a total of 20,000 Mutant Apes, and the price floor is historically lower than the Bored Apes.

See Also: NFT Release Calendar and Best NFT Projects of 2021

Data provided by OpenSea.

Checkout the full Bored Ape Yacht Club collection

You can learn more about this NFT here.

This article was generated by Benzinga's automated content engine and reviewed by an editor.

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This Bored Ape NFT Just Sold For $107,412 in ETH - Ethereum (ETH/USD) - Benzinga

Within two weeks, decentralised stablecoin issuer Frax Finance will make its liquidstakingtechnology on Ethereum publicly available.

The launch will enable users to stake ether (ETH) and get Frax Ether (frxETH), a liquid derivative token designed to unleash the value of staked tokens. The derivative will reflect ethers price and be freely transferable on other DeFi protocols.

Frax Ether is a liquid ETH staking derivative. Image: Frax Finance

Everything will be fully available publicly within two weeks, barring anything unforeseen, but the full system is already live, and is already proposing blocks, Frax core developer Jack Corddry told The Block.

Frax has completed a security audit of its liquid staking token in preparation for its mainnet launch. The project has also installed a Curve pool, allowingfrxETHto be exchanged for ETH with minimal or no slippage.

Frax Finances stablecoin relies on collateral and algorithmic techniques to maintain a 1:1 peg with the U.S. dollar. Dollar. Its stablecoin is partially supported by hard collateral, notablyUSD Coin (USDC), and partially by FXS, Frax Finances native governance token.

Fraxs decentralised liquid staking product will compete with protocols like Lido Finance and RocketPool. The Frax team stated, Get ready for the most interesting ETH liquid staking derivative released by a major stablecoin issuer.

Additionally, Frax Finance operates the decentralised exchange Fraxswap and the financing platform Fraxlend.

First, customers stake their ETH using Frax ETH Minter, a function that mints the liquid derivative related to the deposited ETHs underlying value.

Frax will leverage its customers ETH to generate and distribute a staking income via spinning Ethereum validators. By allowing individuals to delegate their assets to the protocol, this method aims to simplify the process of establishing validators.

Users must swap the first derivative token (frxETH) for Staked Frax Ether (sfrxETH), a second token that will accrue staking yield from Fraxs Ethereum validators.

This second token will earn interest and increase in value over time relative to ether. The interest can be collected by the conversion of sfrxETH tofrxETH.

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Frax Finance To Launch Liquid Staking Protocol on Ethereum - Coin Culture

What happened

The news in the crypto market continued to get worse after Tuesday's de-peg of TerraUSD (UST 14.19%) from the U.S. dollar, as well as the drop in Bitcoin (BTC -11.41%). This has effectively caused a cascade of selling and has led to outright panic in some circles. And even the most useful crypto assets are down big Wednesday.

At noon ET, the value of Ethereum (ETH -18.91%) had fallen 3.6% in the prior 24 hours, Solana (SOL -31.57%) had dropped 19.9%, and Cardano (ADA -29.73%) was down 13.2%.

Image source: Getty Images.

The biggest news of the day was that the TerraUSD stablecoin lost its peg to the dollar. That token's value fell to as little as $0.30 or so, and as of late Wednesday afternoon, was still only at $0.63. This crisis in what was viewed previously as a safe asset has created a cascade of impacts and drops in the prices of nearly all major tokens. According to Coinglass.com, $859 million worth of cryptocurrency positions have been liquidated in the last 24 hours alone, and if prices continue to fall, that number will likely go higher.

When such big tumbles occur, broad panic can set in. That's what we're seeing Wednesday with relatively smaller market cap tokens, like Solana and Cardano. Selling leads to more selling, and because those tokens have no tangible assets to fall back on, there's no clear floor underneath their prices.

Ethereum, which is a top token for use in smart contracts, was actually holding up relatively well, which shows some of the strength in leading cryptocurrencies on a relative basis.

It doesn't help that the stock market is also dropping this week. The quarterly earnings reports that companies have been delivering haven't been as strong as some investors expected, and that's leading to a further "risk off" trade in the market. Cryptocurrencies are highly risky, so in this environment, there are naturally going to be a lot of sellers.

It certainly looks like all-out panic is setting into the crypto market. Investors are getting liquidated in some cases, and some of the investment theses behind cryptocurrencies are falling apart.

What's special about Ethereum, Solana, and Cardano is that they're all utility tokens, allowing developers to build applications on top of their blockchains. And billions of dollars are flowing into the cryptocurrency development ecosystem, which will lead to innovations over the next decade or more. In time, that should drive values higher, although we don't know when those upsides might be seen.

I think we're starting to see the panic in the market reach a peak, and similar moments have typically been buying opportunities for great long-term assets. In cryptocurrency, I think the lasting tokens and blockchains will be those that developers use most to provide digital or real-world utility for users. These three cryptocurrencies are on the top of that list.

That said, there's likely to be more volatility ahead, and this may not be the bottom. So, investors buying now should be prepared, because these are long-term investments, and in the near term, trading in crypto can be unpredictable, as was demonstrated again this week.

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Why Ethereum, Solana, and Cardano All Plunged Today - The Motley Fool