Ethereum Financial News

Ethereum's native token, Ether (ETH), is not immune to downside risk in September after rallying approximately 90% from its bottom of around $880 in June.

Ethereum [ETH]’s price action may have delivered a slight upside so far since the end of August. Its price action seems less excited than anticipated especially now that the Merge is less than two weeks away. Is it because of lack of enough buying pressure or is there something more to this performance?

Ethereum maximalists are already calling this the biggest event in crypto this year. They believe this will pave the path towards ‘the flippening’ – when Ethereum overtakes Bitcoin as the largest cryptocurrency by market capitalisation. September is here, and the Merge is just weeks away. Let’s understand the event in detail and prophesize what’s ahead. What is the Merge?The Merge is the transition of Ethereum (ETH) blockchain to the Proof-of-Stake (PoS) consensus mechanism. This shift was planned at the inception of the blockchain in 2014 itself. PoS is energy-efficient, and the Merge will instantly cut 99 per cent of Ethereum’s carbon emissions, according to the Ethereum Foundation. This will make ETH a strong candidate for institutional investors like Tesla who have stayed away from Bitcoin (BTC) on concerns about its energy use. It will also have implications on the tokenomics of ETH. The Merge will result in a 90 per cent net drop in the annual issuance of ETH. This means that, over time, ETH’s supply will remain stable (or even decrease; making ETH deflationary) giving a fillip to its investors. All retail investors will also be able to stake their ETH for passive rewards once the Merge is successful.

Bitcoin holding above the key psychological level of $20,000. The asset class seems increasingly likely to remain in the same price rut until the release of inflation numbers later this month and Federal Reserve's meeting outcome, said analysts. Barring Tron and US dollar-pegged Tether, all other tokens were trading higher on Friday. Polygon zoomed over 5 per cent, whereas Polkadot gained 3 per cent. Ethereum and Cardano gained more than 2 per cent each. The global cryptocurrency market cap was trading higher at the $990.26 billion mark, dropping more than a per cent in the last 24 hours. However, the total trading volume dropped about 8 per cent to $62.76 billion.

Ethereum [ETH] co-founder Vitalik Buterin has taken another dig at Bitcoin [BTC]. In a recent interview with Noah Smith, the Russian-Canadian crypto creator made a statement. This was not the first time that Vitalik claimed superiority over the number one cryptocurrency in market value. 

Markets are scary right now, and while the situation is likely to worsen, it doesn’t mean investors need to sit out and watch from the sidelines. In fact, history has proven that one of the best times to buy Bitcoin (BTC) is when no one is talking about Bitcoin.

Sovereign identity has been a hot topic in blockchain and cryptocurrency, especially with the rise of the creator economy. Currently, there are two types of digital identities. One is federated and centralized whereby data is in the control of the service provider. Self-sovereign digital identity is often cited as a human right that can reclaim agency using blockchain technology, but what frameworks exist that aid in governing it?

Nonfarm payrolls rose by 315,000 jobs in August, down from the July increase of 526,000 jobs. The report was just below the Dow Jones estimate of 318,000 jobs and the slowest monthly gain since April 2021. The S&P 500 rose in response to the report, but later erased its gains, indicating that bears continue to sell on rallies.

 

 

If Bitcoin is crypto's answer to gold, Ethereum is the closest thing it has to its own internet. Anyone who wants to mint a new token, launch a crypto app, or spend $150,000 on a Bored Ape nonfungible token, or NFT, probably uses the Ethereum network. More than $3bn in transaction volume flows through Ethereum daily, traded in the network's native token, Ether. About $60bn in crypto assets sit on its blockchain through third-party apps. Aside from Bitcoin, no other network is more critical to crypto's infrastructure or its future.

Lido Finance [LDO]  the market leader for Ethereum liquid staking (with over 80% of the market share) is creating headlines. Now, one of the biggest “shareholders” of Ethereum has seen a strong price increase in the last 24 hours. So what really triggered this rally, and can it sustain the gains?

Major cryptocurrencies were trading in the red early on September 2. The global crypto market cap stood at $981.86 billion, a 0.09 percent increase over the last day. The total crypto market volume over the last 24 hours reached $62.41 billion, making a 9.77 percent decline.

A glimpse of the NFT market showed that neither Ethereum [ETH] nor Solana [SOL] was the best performing chain over the last 24 hours. Surprisingly, Binance Coin [BNB] took center stage out of the top three, according to CryptoSlam.

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Many Ethereum [ETH] investors may expect the Merge day to bring good tidings. However, this anticipation may need to be followed with a rethink of the situation.

 

Ethereum [ETH] mining has been the most profitable option for miners in the recent past. However, with the upcoming Merge, there has been a lot of speculation about ETH miners jumping ship.

In this week's episode of Market Talks, we welcome professional trader Dan McDermitt — a partner and senior analyst at ChartGuys .com.

The focus of the crypto community may now be shifted to the Ethereum [ETH] Merge event as August comes to a close. In the wake of this, a few Proof-of-Work (PoW) cryptocurrencies existing on the Ethereum blockchain have been tipped to profit from the transition.

A new NFT and metaverse project is being built on the Ethereum blockchain — with a cutting-edge difference that could set it apart from rivals.