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Ethereum News
Jason Hamlin, Ecosystem InsightsWhen EIP-1559 was introduced to Ethereum last month, it was supposed to slow down the rate at which the supply of ETH grows. But over the last 24 hours, the supply of ETH isn't growing at all. It's shrinking. $ETH decrypt.co/80222/more-ethereum-has-been-burned-than-minted-past-24-hours
Ethereum News
Jason Hamlin, Ecosystem InsightsA bug affecting older versions of a major Ethereum client is causing those nodes to split from the main network. This affects around 54% of Ethereum nodes. $ETH Read More: www.theblockcrypto.com/post/115822/bug-impacting-over-50-of-ethereum-clients-leads-to-fork
Ethereum News
Jason Hamlin, Ecosystem InsightsBlockchain analytics firm CryptoQuant reported that Ethereum reserves on trading platforms dropped from 26.29 million ETH to 19.22 million ETH year-on-year (YoY), indicating that traders' preference to hold their tokens increased. In addition, 92,595 ETH have been burned to date following Ethereum's London hard fork upgrade. Traders view these metrics as bullish for the Ethereum price. $ETH cointelegraph.com/news/ethereum-supply-shock-exchange-eth-reserves-continue-to-fall-after-a-26-drop-in-2021
Ethereum News
Jason Hamlin, Ecosystem InsightsVisa has bought a digital avatar in the form of a non-fungible token (NFT) for $150,000 in Ethereum to support the burgeoning investment realm and further build its “collection of historic commerce artifacts.” The financial institution bought CryptoPunk #7610. A total of 10,000 CryptoPunks have been minted and are considered to be original NFTs. The one Visa bought is one of 3,840 “female” punks. $ETH www.bloomberg.com/news/articles/2021-08-23/cryptopunk-nft-prices-visa-buys-digital-avatar-7610-for-150-000-in-eth
Ethereum News
Jason Hamlin, Ecosystem InsightsThe Ethereum 2.0 staking contract has become the largest holder of the ETH with 6.9 million ETH ($21.3 billion worth). Wrapped ETH (WETH) comes in second, holding 6.7 million ETH ($20.6 billion). $ETH www.coindesk.com/ethereum-2-staking-ether-holder
Ethereum News
Jason Hamlin, Ecosystem InsightsEthereum's London hard fork has activated at block 12,965,000 and EIP-1559 is now active. This latest backward-incompatible hard fork also marked the rollout of five new Ethereum Improvement Proposals (EIPs). EIPs 1559, 3554, 3529, 3198, and 3541 are code upgrades that aim to improve the Ethereum network’s user experience and value proposition. The adjustment changes the way transactions are processed on Ethereum by providing clear pricing on transaction fees in ether paid to miners to validate transactions and "burning" a small amount of those tokens. The burned tokens will be permanently taken out of circulation. EIP 1559 will also introduce greater block size variance, meaning block sizes can fluctuate up to two times the current maximum limit during times of high network congestion. Over $1 million in ETH has already been burned (as gas fees) in less than 2 hours. $ETH www.coindesk.com/ethereum-hotly-anticipated-london-hard-fork-is-now-live
Ethereum News
Jason Hamlin, Ecosystem InsightsEthereum is outperforming other cryptocurrencies this year and total exchange volume has shot up 1,461% to $1.4 trillion. This is mainly down to institutions having more interest in decentralized finance. $ETH decrypt.co/77102/ethereum-trading-volume-growth-outpacing-bitcoin
Ethereum News
Jason Hamlin, Ecosystem InsightsBlockchain investment firm QR Capital is to list an ethereum exchange-traded fund (ETF) on Brazil’s stock exchange after winning approval from the markets regulator. $ETH www.coindesk.com/first-latin-american-ethereum-etf-to-list-on-brazil-stock-exchange
Ethereum News
Jason Hamlin, Ecosystem InsightsSwiss Bank Sygnum Becomes First Bank to Offer ETH 2.0 Staking $ETH Read More: beincrypto.com/sygnum-becomes-first-bank-to-offer-eth-2-0-staking/
Ethereum News
Jason Hamlin, Ecosystem InsightsJPMorgan Says Ethereum Upgrades Could Jumpstart $40 Billion Staking Industry $ETH www.forbes.com/sites/emilymason/2021/07/01/jpmorgan-says-ethereum-upgrades-could-jumpstart-40-billion-staking-industry/