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Last week, Ethereum's ability to process more transactions got a boost when validators decided to raise the gas limit for the first time since late 2021, and notably, the first time since the network's Merge. Despite this increase, Vitalik Buterin believes that the ETH gas limit should be raised even more.
Where's the momentum Ethereum's price so dearly craves?
The crypto market has experienced a notable rebound in activity this week. The uptick is reflected in the global crypto market cap, which has surged by 2% over the past seven days.
According to leading on-chain data platform Glassnode, Solana's seven-day average transaction fees have outpaced Ethereum's since Jan. 9, highlighting its growing network activity and sustained demand. While SOL's transaction fee dominance weakened in February, the weekly difference remains above $3 million, indicating sustained relative strength over ETH, Glassnode noted.
Today, over $2.5 billion worth of Bitcoin (BTC) and Ethereum (ETH) options contracts will expire, raising concerns about potential volatility in the cryptocurrency markets. As a significant amount of these contracts nears expiration, traders are closely monitoring how the event will impact the price of these assets.
TL;DR Today, more than $2.5 billion in Bitcoin and Ethereum options expire, potentially creating volatility in the crypto market and causing price fluctuations. Bitcoin and Ethereum prices are approaching “max pain” levels, which could trigger significant price movements, impacting traders.
With thousands of distributed apps, NFT initiatives, and DeFi ecosystems, Ethereum(ETH) has remained the pillar of the crypto scene. However, as its price trend points towards a possible jump to $12,000, investors are searching for ways to maximize their gains beyond simply owning Ethereum.
Vitalik Buterin has argued that increasing Ethereum's L1 gas capacity is necessary to support transaction inclusion and application development when most activity occurs on L2. In a new blog post, Buterin outlined calculations suggesting that a roughly 10× expansion in L1 capacity would preserve key network functions even as applications migrate to Layer 2 solutions.
Raising Ethereum's gas limit would improve censorship resistance, reduce costs when routing assets between L2s and provide a safety net in case of disasters, Buterin said.
Hong Kong continues to strengthen its position as a major crypto hub. Local authorities recently confirmed that Bitcoin (BTC) and Ethereum (ETH) can now be used to prove the wealth of investors applying for an investment visa.
Ethereum's Pectra upgrade is already live on Ephemery, a testnet of the blockchain network, in preparation for an April mainnet launch. On Feb.
AAVE, one of the leading decentralized finance (DeFi) platforms, has been experiencing notable developments in its ecosystem. Over the past year, the platform has witnessed significant growth, with net deposits exceeding $20 billion.
Ethereum (ETH) remains under pressure, struggling to reclaim the $2,800 level after shedding 21% of its value since January 31 as bearish sentiment grips the market.
Ethereum's recent performance has left investors uneasy, as the Long-Term Holder Net Unrealized Profit/Loss (NUPL) indicator shows growing anxiety among ETH holders. This metric suggests that many long-term investors are seeing their unrealized gains diminish, which could lead to further market pressure.
The fourth day of consecutive outflows for bitcoin ETFs saw a loss of $156.69 million, with significant withdrawals from Fidelity's FBTC and ARK 21Shares' ARKB. In contrast, ethereum spot ETFs attracted $12.92 million in inflows, led by Blackrock's IBIT and Fidelity's FETH. Bitcoin ETFs Shed $650.
TL;DR Ethereum's Pectra upgrade enters the testing phase, with mainnet launch expected by late April 2025. Initial tests on Holesky (Feb. 24) and Sepolia (Mar. 5) to ensure software functions correctly before mainnet implementation. Pectra introduces technical enhancements to boost scalability, security, and user experience, gaining cautious optimism from the crypto community.
Ethereum developers have confirmed that the highly anticipated Pectra upgrade will undergo testing on the Holesky and Sepolia networks on February 24 and March 5, respectively. If these tests run smoothly, the upgrade is scheduled to go live on the Ethereum mainnet on April 8.
Ethereum (ETH) bounced off the $2,500 level on Wednesday and shows signs of continuing this bull reversal attempt while altcoins undergo correction. This shift in dynamic could suggest that Ethereum price is attempting to revisit $4,000.
Bitcoin (BTC) rebounded after dropping to a low of $95,346 late on Thursday to reclaim $97,000. However, price action remains sluggish, and market sentiment is mixed.
This week, we examine Ethereum, Ripple, Cardano, Binance Coin, and Solana in greater detail. Ethereum (ETH) There are good signs that Ethereum may have bottomed here and a reversal is just beginning after a difficult start in February.
Ethereum developers have confirmed that the highly anticipated Pectra upgrade is set to go live on the Ethereum mainnet around April 8, 2025, following successful testnet deployments.
Ethereum price remains under $3,000, with Ed Hindi from Tyr Capital noting that the market has reached peak bearishness.
Ethereum's Pectra upgrade is set for February 24 on Holesky testnet, with a mainnet rollout expected by April 8, 2025.
On-chain data shows the retail investors have been liquidating their Bitcoin wallets recently, but buying into XRP and Ethereum.
