Ethereum Financial News

As the Ethereum (ETH) merge slated for September 15 is a stone’s throw away, Blockchain.News conducted an exclusive interview with Anil Sawrup, the head of sales at Moneycorp Americas, to get more insights about what this much-anticipated event has to offer. 

Bitcoin reclaiming the $20,000 mark, its major support and psychological level. Bitcoin fell below $20,000 on Sunday as part of a wider cryptocurrency-market retreat, amid concern about the Federal Reserve's rate-hike path, Reuters reported. Fed Chair Jerome Powell's speech at the Jackson Hole conference spooked the traders across the world of all riskier asset classes. Despite the recovery, the total market cap of the crypto space remained below the $1 trillion mark. The global cryptocurrency market cap was trading higher at the $980.62 billion mark, rising more than 3 per cent in the last 24 hours. However, the total trading volume dropped about 20 per cent to $64.88 billion.

Ethereum investment products increased by 2.36% to $6.81 billion in assets under management (AUM) throughout August, outperforming Bitcoin products which saw a 7.16% drop off to $17.4 billion. 

Ahead of the rapidly approaching Ethereum (ETH) Merge on Sept. 15, Ethermine, the world’s largest Ethereum mining pool has unveiled a new staking pool for users. Notably however, it is not available to U.S. miners

Onboarding several chains into its staking solution may be one of the best steps Lido Finance [LDO] could have taken.

Ethereum, the largest altcoin is scheduled to welcome the much-anticipated Merge this September.

On Aug. 30, global investment bank UBS increased its view on the risk of the United States entering a recession within one year to 60%, up from 40% in June. According to economist Pierre Lafourcade, the latest data showed a 94% chance of the economy contracting, but added that it "does not morph into a full-blown recession."

Apart from a decline in its price in the past few days, leading alt Ether [ETH] also saw a decline in on-chain activity in the last week.

Ether (ETH) is the second largest crypto by market capitalization and the absolute leader in decentralized applications by deposits. Becoming a victim of its own success, the network experienced a fee hike in November 2021 when the average transaction costs surpassed $50. 

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. 

As we close in on the Merge, Ethereum is facing a crucial junction on its course. The Merge preparations are doing very well on the network as the ETH 2.0 deposit contracts continue to register new all-time highs (ATHs).

 

The Metaverse is quickly becoming one of the most important places for companies and individuals looking to expand their reach. New findings from research firm MarketsandMarkets predict that the Metaverse market size will grow from $61.8 billion in 2022 to $426.9 billion by 2027. 

With the Ethereum Merge on the way, the risk research and analysis team Block Analitica proposed a temporary pause in Ether (ETH) borrowing to mitigate the risks which may lead to a decentralized finance (DeFi) implosion in the Aave lending protocol during the Merge. 

Ethereum layer-2 scaling solution Arbitrum is set to undergo one of its most significant upgrades on Wednesday, set to increase transaction throughput, slash transaction fees and simplify cross-chain communication between Arbitrum and Ethereum.

crypto prices dropped on an average of 12%. This sudden drop pushed the global crypto market to its lowest point in the month of August. For the first two weeks, the market rose for about 4-5%, which is not so great but still gave a sign of relief to investors, but this sudden drop could turn out to be fatal. By the end of the week, on Sunday, the market stabilized a little bit, but the losses over the weekend still stood up high and the day ended without getting bullish. Over the analysis of the International exchange books, the buy-side is thin. This phase of the market cannot turn around in just a few days with such conditions. As expected, Monday was also served by a weak market. During the day, about one-third of the coins in the Top 100 gained around 1-2% whereas, coins and tokens based on metaverse and attention on browser lost around 5% in their prices.

The layer-2 scaling solution Synthetix undertook some important developments this month. Often described as a “blue chip” DeFi project, Synthetix was one of the first projects to launch on the Ethereum network. And, now the platform showed its true colors given the received response from users.

Ethereum layer 2 solution, Arbitrum is looking to rediscover its lost mojo in the crypto market. The roll-up solution is about to undergo a major Nitro upgrade which is scheduled for next week. But Arbitrum is already seeing a huge uptick in daily transactions as it crossed 180,000 again this week.

Between 22 and 28 August,  Chainlink, the widely used oracle network, noted 14 integrations of four of its services across two chains, its latest adoption update revealed.

The United States equities markets are attempting to stabilize after the carnage on Aug. 26. On similar lines, Bitcoin (BTC) is also witnessing a see-saw battle near the psychological level of $20,000 with both the bulls and the bears vying for supremacy. 

Ethereum [ETH] witnessed a major decline below the $1,600 zone against the U.S. dollar. ETH even declined below $1,500 at press time on CoinMarketCap. Now any recovery of more than $1.5k could face hurdles but again, surpassing the line remains a possibility.