Ethereum Financial News

America’s biggest exchange Coinbase (COIN) announced to delist of Ripple's XRP, Bitcoin Cash (BCH), Ethereum Classic (ETC), and Steller (XLM) from its wallet product, citing “low usage.”

Is the crypto market on the verge of breaking out of the doldrums? That’s not certain, but the asset class looks healthier than last week. Most cryptocurrencies are above where they were last week, with green across the board. However, there’s no guarantee that the tokens will continue upward. What is notable is that a handful of assets clearly outperformed the market last week.

Barring a few exceptions, which we detail below, the crypto market continues to drop. Bitcoin briefly fell below the $16,000 mark, leaving investors anxious. The past few days have revealed more of the financial mismanagement at FTX, consequently keeping investors away from centralized exchanges.

The stolen crypto from one of the industry’s largest exploits is on the move once more, with on-chain data revealing that another $46 million in stolen funds has just been transferred from the hacker’s wallet.

The new year has arrived, but it doesn’t yet look as if the cryptocurrency market has the energy to lift itself out of its doldrums. However, the crypto market comes with quick shifts of fortune, so investors may find themselves in a better position sooner than they expect in 2023.

In this article

Bitcoin blockchain, sparking a debate among those who say the digital representations add a much-needed fresh use case and the purists concerned about deviating too far from the origins of the peer-to-peer cryptocurrency network. Nonfungible tokens such as the now infamous Bored Apes and CryptoPunks are one of the driving forces that made Ethereum the most commercially important blockchain, where users can mint and trade digital assets that have been worth millions of dollars.

Bitcoin (BTC) rose 1.2% to $23,150, whereas Ethereum (ETH) was just below the $1,600 level. BTC volume in the last 24 hours stood at approximately $22.39 billion, falling 16.25% in the last 24 hours. «Bitcoin has been forming higher lows and higher highs, which may be an indication of a bullish trend. The 50-day moving average has crossed above the 200-day moving average, which could be a signal of a bull market. Additionally, the relative strength index (RSI) remains in the bullish territory above 50, indicating that there is still buying pressure in the market,» Rajagopal Menon, Vice President at WazirX said. Other top crypto tokens were also trading higher on Wednesday. Cardano rose 4.32%. XRP, Dogecoin, Polygon and Litecoin were also trading with gains. The global cryptocurrency market cap was trading lower around $1.05 trillion, rising 1.01% in the last 24 hours.

As GameFi markets bleed out, one project is making huge shockwaves in the sector.

Ether (ETH), the cryptocurrency that powers the smart-contract-enabled Ethereum blockchain, fell under $1,500 and hit its lowest level in nearly a month in the $1460s on Monday. At current levels in the $1,480s, the world’s second-largest cryptocurrency by market capitalization was last trading about 2.0% lower on the day, with losses from earlier monthly highs in the $1,700s now over 13%. That still leaves the cryptocurrency up around 25% on the year, though gains such as these can quickly be given back in crypto markets.

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Bitcoin has continued its downward trend and has now slid below $22,000, while the global cryptocurrency market cap is on the verge of falling below the $1 trillion mark. Most cryptocurrencies, including Bitcoin and Ethereum, have seen drops in the past few days. 

A crackdown by the United States securities regulator on crypto staking could have unintended consequences for decentralized finance (DeFi), according to the head of business development at Lido DAO.   

Ethereum co-founder Vitalik Buterin has now made at least two substantial contributions to help the victims of last week’s devastating earthquake in Turkey and Syria.

Recently reported planned enforcement action against Paxos by the United States Securities and Exchange Commission (SEC) over Binance USD (BUSD) has many in the community questioning how the regulator could see a stablecoin as a security.

The ill-gotten crypto from one of the industry’s largest exploits is on the move again, with on-chain data showing another $46 million of stolen funds has just shifted from the hacker’s wallet.

Brazilian bank Banco do Brasil is offering a new and convenient option for taxpayers to settle their dues using cryptocurrencies.

The price of Bitcoin and Ethereum took a downward turn this week, sliding amid reports that Kraken has settled with the US Securities and Exchange Commission and will now not offer its staking-as-a-service product to companies without regulatory approval.

The Ethereum Foundation team announced another milestone on the road to the Shanghai upgrade, with the Shapella fork on the Zhejiang testnet moving into the final pre-launch sequence, according to a blog post on Feb 10.

The United States Securities and Exchange Commission (SEC) is ramping up pressure on the crypto sector. On Feb. 9, the SEC reached a $30 million settlement with Kraken over the centralized staking program offered to its users.

In the latest episode of NFT Steez, Thomas Webb, the founder of the interoperable avatar game Worldwide Webb, discusses the integration of interoperability in Web3 and the Metaverse.