Ethereum Financial News

The bitcoin (BTC) and crypto market came under heavy selling pressure on Monday, fueled by fears in nearly all global risk markets related to high inflation and what the US Federal Reserve (Fed) might do to tame it. At the same time, the drama surrounding crypto lending platform Celsius(CEL) is adding fuel to the fire.

After months of falling prices, Bitcoin’s price on June 13 dropped to $24,000, which was an 18-month low. The overall market cap for Bitcoin stood at $457.12 billion, according to coinmarket cap.

Bitcoin (BTC) faced continued selling pressure before the June 13 Wall Street open as Ether (ETH) revisited multi-year lows.

Bitcoin has fallen to its lowest level for a year and a half, trading around $25,344 at the time of writing, according to data from CoinGecko.

"We are taking this necessary action for the benefit of our entire community in order to stabilise liquidity and operations while we take steps to preserve and protect assets," the company wrote in a memo to users.

Cryptocurrency lending firm Celsius Network will pause withdrawals and transfers between accounts due to "extreme market conditions", the company said on Monday, in the latest sign of pressure in the crypto industry.

Ethereum (ETH) developers have decided to once again delay the “difficulty bomb,” a special code in Ethereum that eventually makes it impossible to mine ETH tokens, by another two months. 

Ethereum network developers have decided to delay the difficulty bomb, a major step leading up to the highly anticipated Merge upgrade for the layer-1 blockchain.

Crypto staking and lending platform Celsius may be dealing with its rumored liquidity crisis by unstaking $247 million worth of Wrapped Bitcoin from Aave and sending it to FTX exchange.

The undisputed rulers of the NFT world are Ethereum [ETH]-based NFTs. In recent times, Solana-based NFTs have also managed to establish a decent position. However, the Klaytn-based NFT project Puuvilla Society seems to be the latest entry in the NFT space.

As the cryptocurrency market embarks on another round of capitulation, an era of touching newer lows appeared to have been ushered in for most altcoins. Yesterday, the market capitalization for the global cryptocurrency market dropped to $1.19 trillion, from an all-time high of $3.08 trillion in November, 2021. In the last 24 hours, an 8% decline was registered. 

Recent developments in the market have reduced the pain tolerance of crypto investors that were already reeling from the May crash. What does the future of crypto assets look like now as global indexes begin to tremble further?

Shiba Inu [SHIB], one of the most popular meme coins around, has grabbed significant attention of late. Be it 2021 or 2022, the meme coin has seen decent developments within this crypto-sea full of competitors. However, regardless of this, why isn’t SHIB able to paint the same picture for its price?

Ethereum's native token Ether (ETH) entered its "oversold" territory this June 12, for the first time since November 2018, according to its weekly relative strength index (RSI).

Bitcoin (BTC) saw further losses on June 12 as thin weekend trading volumes fueled an ongoing sell-off.

Ethereum [ETH], the world’s largest altcoin, might be losing its plot despite anticipation around the Merge. Rather, one can say that the token is seeing a delayed plot. Ethereum core developer Tim Beiko recently opined that the merge to proof-of-stake (PoS) would happen between August and November. This announcement follows more bad news for Ethereum enthusiasts hoping for the completion of the Ethereum 2.0 Merge in August.

Gordon Goner, the pseudonymous co-founder of Yuga Labs, issued a warning about a possible incoming attack on their social media accounts under the Yuga Labs umbrella after receiving “credible information” that an insider from Twitter would help bypass the security of the accounts.

Ethereum blockchain is coming under criticism for potentially taking too much control of the network as it undergoes a closely-watched software upgrade. The DeFi, or decentralized finance, platform Lido Finance has become the largest provider of staking services for Ethereum, a practice that allows owners of the Ether cryptocurrency to earn passive income without having to sell their tokens. The staked coins are used to help validate transactions and secure the network in exchange for rewards, based in part on the amount of new tokens minted and fees collected. The practice is also popular among users of leading exchanges such as Coinbase, Kraken and Binance. With more than 4 million Ether deposited through Lido, or 32% of the total amount of the token being staked, the concentration is raising red flags. One entity holding a huge amount of Ether could raise security risks for the network, critics say. Ethereum is moving to what’s billed as a less-energy intensive process known as proof-of-stake from its current proof-of-work mechanism. Under the system upgrade known as the Merge, so-called solo-staking requires setting up dedicated hardware and holding a minimum amount of 32 Ether, valued at about $54,000, based on current prices. Staking services like Lido don’t have those requirements and make staking easier for small investors.

NFT culture. It transformed memes from a mere mode of presenting humorous content and added to their gambit — monetary value. Still confused? Today, you can indeed buy and sell memes and earn lucrative profits. According to recent market reports — the world-famous “Doge” meme NFT was sold for $4 million. Another example highlighting the amount of money one can make in such trades is the “Overly Attached Girlfriend”, which was bought for $411,000 in Ethereum.

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Ethereum [ETH]’s much-awaited “Merge” is here. And it is here to create the much-anticipated shift in paradigm i.e. the shift from Proof-of-Work (PoW) to Proof-of-Stake (PoS). Much has been said about ETH’s merger, however, how has the token faired amid the ongoing changes to the network? Let’s find out…