Ethereum Financial News

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Ethereum [ETH], at the time of writing, was exchanging hands at $1,341. As of 22 September, the alt concluded a 30% retracement from its September high of $1,789. A far cry from what many investors expected from its most important month of the year. On the bright side, the alt was trading at a steeper discount and flashing recovery rally signs.

Having first outlined plans to test a host of CBDC technical options last year, in May Norges Bank brought in vendor Nahmii to help with its sandbox project.Now, the open source code has been made available on GitHub, allowing for the testing of basic token management use cases, including minting, burning and transferring ERC-20 tokens.In addition to deploying the appropriate smart contracts and access controls, the Norges Bank sandbox includes a custom frontend and network monitoring tools.The sandbox network sits behind basic authentication and is only accessible by users with the appropriate credentials, meaning transactions are private.Nahmii says more complex and interesting use cases, such as batch payments, security tokens and bridges will soon follow.

Ethereum Classic [ETC] has been bearing the brunt of the much-awaited ETH Merge. Echoing the sentiment of bears, it is expected that the price of ETC will take a down swing considering its current performance. However, even with ETC’s declining volume and marketcap, ETC witnessed a spike in its social media dominance and sentiment.

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.

Cardano's Vasil upgrade has been completed. The much-awaited set-off will enable increased network capacity, higher throughput, and lower transaction costs on the peer-reviewed, proof-of-stake blockchain platform.

Barring the US dollar-pegged stablecoins, all top crypto tokens were trading in the red on Friday. Ethereum slumped another 6 per cent, whereas Cardano, Dogecoin and Polygon tumbled more than 3 per cent each. The global cryptocurrency market cap was trading quite lower at $907.27 billion, dropping more than 2 per cent in the last 24 hours. However, the total trading volume zoomed almost 33 per cent, close to $90.85 billion.Expert takePrashant Kumar Founder weTrade said that crypto markets were choppy as they reacted to the US Federal Reserve’s decision to hike interest rates by 75 basis points.

Crypto mixer Tornado Cash has returned to the software development platform GitHub after several weeks of being banned on the website.

Bitcoin barely held the $19,000 mark, whereas Ethereum was again trading in the red. Any surprise from the US Fed may lead to another selloff in the crypto space, experts believe. XRP was a standout gainer with a 9 per cent rise, whereas Dogecoin, Shiba Inu and Cardano added 2 per cent each. Bitcoin, Polygon and Avalanche dropped over a per cent each. The global cryptocurrency market cap was trading marginally lower to $926.78 billion, dropping about half a per cent in the last 24 hours. However, the total trading volume dropped over 9 per cent, close to $67.86 billion.

Ethereum [ETH], the largest altcoin witnessed a major rejection near the $1,420 mark as of 22 September. ETH went down by over 20% in a week despite the Merge hype. There further remained a risk of a drop below the $1,220 support. Various narratives such as “sell the news” began surfacing soon after the Merge went live.

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.

Cryptocurrencies have been in a bear trend since mid-August after they failed to break above the $1.2 trillion market capitalization resistance. Even with the current bear trend and a brutal 25% correction, it has not been enough to break the 3-month-long ascending trend.

Much to the disappointment of expectations from some angles, a price uptick did not accompany the Ethereum [ETH] Merge. In some corners, the ETH NFT market should have at least brought a positive effect.

In this week's episode of Market Talks, we welcome Yashu Gola, a Mumbai-based financial analyst and technology journalist with a strong focus on bitcoin, smart contracts, exchange assets, NFTs, commodities, and global stocks. Yashu has been covering the cryptocurrency industry since 2014 and does not expect to stop anytime soon.

On the first day after the Merge, the decentralized finance (DeFi) community is settling into the seemingly uneventful transition of the Ethereum network from proof-of-work (PoW) to proof-of-stake (PoS). However, it has yet to be seen the benefits that hard forks will bring to PoW supporters.

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.

 

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.

Fantom (FTM) is known for its speed and inexpensive layer-1 blockchain. Like other blockchains (for example, Solana (SOL) and Avalanche (AVAX)) that scale better than their counterpart, it has been dubbed an “Ethereum killer.” After raising $40 million in funds, Fantom launched its mainnet in December 2019. Since then, it has grown to become one of the most popular blockchains, sitting in the top 10 blockchains by total value locked (TVL) with $1.3 billion in TVL. 

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