Kategorie: Ethereum News

Ethereum news about the ETH blockchain and its crypto ecosystem.

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Ethereum’s significant $7M burn; new memecoin identified as promising Dogecoin contender

Ethereum, the second-largest cryptocurrency by market capitalization, recently made headlines with a significant burn of $7 million worth of Ether (ETH). This monumental burn, involving 3,219.96 Ether, underscores Ethereum’s transition towards becoming a deflationary currency. 

Let’s delve into the details of this burn and its implications for the Ethereum network.

Understanding Ethereum’s burn mechanism

The concept of burning in the cryptocurrency realm refers to the process of permanently removing coins or tokens from circulation by sending them to an unusable wallet. In Ethereum’s case, this burn occurred as a result of transactions, where a variable base fee, introduced through Ethereum Improvement Proposal 1159 (EIP-1159), is now included in each transaction.

EIP-1159, implemented on August 5th, 2021, overhauled Ethereum’s fee model by introducing this variable base fee. This fee adjusts according to the current demand for block space and is subsequently burned, reducing the overall supply of Ether in circulation.

Ethereum’s transition to deflationary currency

Before implementing EIP-1159, Ethereum issued a new Ether at a rate of 4% per year. However, with the introduction of this upgrade, the burn mechanism has the potential to outpace the issuance of new Ether, leading to a decrease in the overall supply of ETH. This gradual reduction in supply positions Ethereum to potentially become a deflationary currency in the long run.

Experts anticipate that as Ethereum continues its transition to Ethereum 2.0, which is expected to reduce the issuance rate of new Ether to around 0.5-1% per year, the burn rate could surpass the token’s issuance. This scenario would further solidify Ethereum’s status as a deflationary asset, potentially impacting its long-term value and market dynamics.

Rebel Satoshi emerges as a promising contender

Amidst Ethereum’s significant burn event, attention turns to emerging cryptocurrencies poised to capitalize on market trends and investor sentiment. Rebel Satoshi (RBLZ) has garnered attention as a promising contender in the competitive cryptocurrency landscape, particularly in the realm of meme coins and as a potential alternative to Dogecoin.

Rebel Satoshi, built on the Ethereum network, distinguishes itself with a unique value proposition that resonates with investors seeking alternative meme coins with growth potential. Rebel Satoshi has demonstrated early investor confidence and support with a presale that has already sold over 100 million RBLZ and raised over $1.5 million.

Why invest in Rebel Satoshi?

Rebel Satoshi presents a compelling investment opportunity for crypto enthusiasts looking to diversify their portfolios and capitalize on emerging trends in the cryptocurrency market. 

With a presale approaching $2 million and built on the Ethereum network, known for its robust security and reliability, Rebel Satoshi stands out as a compelling choice for those seeking the best meme coin to invest in.

Final thoughts

As Ethereum continues its journey towards becoming a deflationary currency, investors are presented with unique opportunities to explore emerging cryptocurrencies like Rebel Satoshi. With its innovative approach and strong foundation on the Ethereum network, Rebel Satoshi offers investors a chance to participate in the evolving crypto market and potentially reap substantial rewards.

In conclusion, Ethereum’s $7 million burn signals a significant shift in its economic model; while Rebel Satoshi emerges as a promising project for those keen on what altcoins to buy. Rebel Satoshi presents robust security and reliability, offering investors an exciting avenue for potential growth and investment opportunities. This is why top crypto analysts regard it as the best meme coin.

For the latest updates and more information, visit the official Rebel Satoshi Presale Website or contact Rebel Red via Telegram.

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LayerZero and Delegate launch Clusters, a multichain naming protocol

  • LayerZero announced its LayerZero V2 upgrade three days ago with enhanced cross-chain interoperability with Universal Messaging and Modular Security.
  • Clusters introduces a multichain naming protocol for seamless blockchain address management.
  • Delegate’s expertise in address management ensures security and reliability in the Clusters ecosystem.

LayerZero Labs, in collaboration with Delegate, has announced the launch of Clusters, a groundbreaking multichain naming protocol designed to streamline user interaction across various blockchain networks.

With this innovative solution, users can maintain a consistent identity and manage their blockchain addresses seamlessly, transcending the limitations of individual chains such as Ethereum, Polygon, Avalanche, and Solana among other EVM chains.

The Clusters Protocol 

Clusters is set to revolutionize the landscape of blockchain naming protocols. Unlike traditional solutions like the Ethereum Name Service (ENS), Clusters offers a cross-chain, multi-wallet naming protocol, catering to the needs of multichain enthusiasts.

LayerZero’s technology serves as the backbone of Clusters, facilitating seamless message flow between different blockchains. It is important to note that Cluster will benefit from the recent LayerZero V2 upgrade which brings on board advancements in cross-chain interoperability and application development with the key feature being Universal Messaging, enabling the seamless transmission of diverse message types across over 20 blockchain networks.

LayerZero’s integration allows Clusters to maintain accuracy across millions of names and billions of wallet addresses, ensuring a smooth and reliable user experience. Moreover, LayerZero’s Permissionless Execution feature empowers individuals to participate in the operation of the protocol, promoting decentralization and community involvement.

On the other hand, with its experience in managing blockchain addresses through Delegate Cash, Delegate brings a wealth of expertise to the development of Clusters. Delegate’s technology has already secured nearly $1 billion worth of assets across thousands of wallets, providing users with confidence in the security and reliability of the Clusters ecosystem. Major NFT projects, including Yuga Labs and Azuki, have already integrated with Delegate’s technology, underscoring the platform’s relevance and adoption within the blockchain community.

By providing a universal naming protocol that spans multiple chains, including Ethereum, Avalanche, Plygon, Solana, and other EVM-based networks, Clusters addresses critical issues such as address fragmentation, wallet management complexity, and domain squatting. This innovative solution enables users to maintain a consistent identity and interact seamlessly with decentralized applications and protocols across diverse blockchain ecosystems.

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Spot Ethereum ETFs approval likely on May 23: Standard Chartered

  • Standard Chartered Bank says the SEC could approve spot Ethereum ETFs on May 23, the final deadline for applications currently before the regulator.
  • Ethereum price could surge to over $4,000 by then, the bank said in a report.

The US Securities and Exchange Commission (SEC) is likely to give a nod to the first spot Ethereum ETF in May, the Standard Chartered Bank said in a report on Tuesday.

In particular, the bank’s analysts see the regulator approving the ETH spot ETFs on May 23. According to the bank’s note shared with clients and reported on by The Block, the May date is the final deadline for applications before the SEC.

“We expect pending applications for ETH U.S. spot ETFs to be approved on May 23, the final deadline for the first of the ETFs under consideration — the equivalent date to Jan. 10 for BTC ETFs,” Geoffrey Kendrick, Head of Forex and Digital Assets Research at Standard Chartered Bank, said.

ETH price could surge to $4,000

The SEC recently delayed spot Ethereum ETF applications for BlackRock and Fidelity. However, should the regulator approve the ETF proposals before it, the price of Ethereum could skyrocket. In the lead up to the approval, Standard Chartered sees a potential spike to $4,000.

“If ETH prices perform similarly to how BTC prices performed in the lead-up to BTC ETF approval, ETH could trade as high as $4,000 by then.”

Bitcoin price rallied following BlackRock’s spot Bitcoin ETF application, surging from around $25k to hit a a high of $49k. While prices are back to lows of $43k, after rebounding from around $38.6k last week, the market is bullish as the next BTC halving approaches.

Ethereum surged after BlackRock filed for a spot ETH ETF in November, reaching highs above $2,700. The leading altcoin’s price is currently near $2,375, up 3% in the past hour as the altcoin market looks to bounce alongside the benchmark cryptocurrency.

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Binance Labs invests in Ethereum liquid restaking protocol Puffer

  • Binance Labs has invested an undisclosed amount in Ethereum restaking protocol Puffer.
  • Puffer Finance will use these funds to develop its Layer 2 network and to bring ETH staking and restaking rwards to BNB Chain users.
  • Binance Labs on Monday, January 29, denied claims it had participated in a $15 million funding round for SkyArk Chronicles.

Binance Labs, the venture capital and incubation arm of crypto exchange Binance, has made a strategic investment in Puffer Finance, a decentralised liquid restaking protocol on EigenLayer.

Although Binance Labs hasn’t disclosed the invested amount, it revealed in its announcement that Puffer will use the investment to develop its open-source technologies. 

Today’s announcement comes a day after Binance Labs released a statement distancing itself from claims that it had led a $15 million funding round for gaming platform SkyArk Chronicles.

Puffer to use investment on its L2 and restaking rewards

One of the project areas to see funding from the investment will be Puffer’s actively validated services (AVSs) on a Layer 2 network. Puffer will run its upcoming L2 as an AVS on EigenLayer AVS, Binance Labs said on Tuesday.

“As Puffer continues to develop, our unique approach, supported by collaborations with eminent researchers, elevates validator profitability, contributing to Ethereum’s decentralization and securing its infrastructure with EigenLayer,” Amir Forouzani, founder of Puffer, said in a statement.

“We are incredibly excited about laying a robust foundation for the future of decentralized trust, ensuring a resilient and thriving ecosystem for years to come,” Forouzani added.

Also set to receive a boost from Binance’s venture arm is Puffer’s liquid restaking technology that will see the protocol’s native liquid restaking token go live on the BNB Chain. The target here is to bring ETH staking and restaking rewards to users on the BNB Chain.

Puffer has previously received investment funding from various venture firms, both during its pre-seed and seed round. Among investors in the protocol’s $5.5 million seed round were Lemniscap, Lightspeed Faction, Brevan Howard Digital, Animoca Ventures, Canonical Crypto and Bankless Ventures.

The project also secured a grant from the Ethereum Foundation for its first innovation – a remote signing tool dubbed Secure-Signer. Validators on the Ethereum network can tap into this tool to reduce risk of slashing.

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Market focus shifts to Ethereum ETFs after Bitcoin; high expectations for Quant and InQubeta

As the initial excitement surrounding Bitcoin ETFs approved by the US Securities and Exchange Commission (SEC) subsides, investors are redirecting their attention to the potential launch of an ETH spot ETF.

This shift in focus sets the stage for Ethereum’s ascendancy. Meanwhile, top crypto coins like Quant (QNT) and InQubeta (QUBE) have emerged as promising contenders in the crypto arena.

Focus shifting to Ethereum ETFs

The initial buzz following the SEC decision on Bitcoin ETF is fading, evidenced by Bitcoin’s recent drop. According to insights from crypto trading firm QCP Capital, the narrative has pivoted towards the prospect of an Ethereum spot ETF, contributing to Ethereum’s recent surge.

QCP Capital shared that they saw $9.8 billion in trading volume covering all 11 ETFs recently. The Grayscale Bitcoin Trust (GBTC) played a big part, contributing a hefty $4.6 billion to that impressive total. However, since its conversion from a Trust to an ETF, GBTC has seen outflows of $1.17 billion.

Ethereum, represented by the ETHBTC pair, is displaying an upward trend. The medium-term outlook anticipates Ethereum continuing to outperform Bitcoin, driven by the shifting narrative toward potential ETH spot ETF approvals.

Quant (QNT): bridging the gap between blockchains

Quant (QNT) is emerging as a good crypto to buy in blockchain interoperability, offering a comprehensive solution to facilitate seamless integration and communication between diverse blockchain networks. Using its Overledger technology, Quant functions like a bridge, allowing different blockchains, older systems, and centralized networks to communicate seamlessly.

Quant has been staying above $110 in recent days, and what makes it attractive to big institutional players is its ability to work in industries like healthcare, supply chain management, and finance. Quant’s Overledger technology boosts operational efficiency, security, and transparency across different sectors.

As institutions recognize the value of blockchain interoperability, Quant’s technology becomes an enticing solution for navigating the complexities of diverse networks.

InQubeta (QUBE): presale performance sparks investor excitement

In AI investment opportunities and the coolest NFT offerings, InQubeta has become a standout performer, capturing the attention of investors with its unique propositions.

InQubeta’s ongoing presale, currently in Stage 7, offers QUBE tokens at an attractive price of 0.0224 USDT. The platform is gaining serious traction after pulling in a whopping $8.4 million, with over 732 million tokens already grabbed by early investors.

InQubeta’s triumph stems not just from its clever strategy but also from its AI integration. The platform helps AI startups showcase their offerings by listing equity-based NFTs, offering QUBE holders a fresh, affordable avenue to dive into exciting AI opportunities. 

The presale started with QUBE being valued at $0.007, and since then, it has experienced a significant rally, reaching its current price. Projections are pointing towards an additional boost, with expectations set at $0.0308 after the presale ends.

Early investors have already seen their profits soar by 220%, and indications from InQubeta’s crypto ICO performance hint that the platform might undergo an impressive 100x surge in value. After completing the remaining presale stages, the platform’s strategic listing on Uniswap and CoinGecko positions it for increased trading volume and adoption, potentially driving QUBE to new heights throughout the year.

Conclusion

After the Bitcoin ETFs, all eyes are now on Ethereum ETFs. At the same time, altcoins like QNT and QUBE are taking their place among the best cryptos to buy now. Quant, the bridge between blockchains, solves problems for big institutions. InQubeta is making waves with its successful ventures into AI investments and NFT offerings, making it a standout among new DeFi projects.

InQubeta (QUBE) is calling on investors to jump into its community and be part of its game-changing journey. Check out their site or connect with them on Twitter to stay in the loop and discover the awesome opportunities InQubeta is bringing to the table.

If interested in purchasing QUBE, visit InQubeta Presale and/or join the InQubeta Communities for updates.

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