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Consensys, a Web3 software company, is laying off 20% of its workforce due to economic and regulatory challenges. Despite these setbacks, Consensys says it remains committed to its vision for Web3 and plans to continue supporting the Ethereum project.
Cryptocurrency markets are surging on Tuesday amid Donald Trump's rising election odds, positive broader economic factors and subsiding geopolitical tensions. Cryptocurrency Price Gains +/- Bitcoin (CRYPTO: BTC) $72,870.84 +4.4% Ethereum (CRYPTO: ETH) $2,662.43 +5.8% Solana (CRYPTO: SOL) $179.25 +1.3% Dogecoin (CRYPTO: DOGE) $0.1731 +10.4% Shiba Inu (CRYPTO: SHIB) $0.00001902 +6.8% Notable Statistics: IntoTheBlock data shows large transaction volume increased by 112.3% and daily active addresses grew by 18.2%.
For years, Ethereum has established itself as the second-best competitor to Bitcoin regarding technology, innovation, and use cases. If many consider Bitcoin as ‘digital gold,' Ethereum would be ‘digital silver.
Ethereum's significant outflows and positive technicals signal potential for a sustained bullish rally.
The "mini" trusts spun off from Grayscale's legacy Bitcoin and Ether funds in July.
Telegram-based Toncoin (TON) has seen significant growth since its inception, and the current trends show that it could dethrone Ethereum in holders count. CryptoQuant analysis shows that Toncoin has attracted massive investors, with TON holders increasing from 7.12 million to 108 million between 15 March 2024 and 17 October.
Investors are optimistic once again as the hope of the Ethereum price rallying to $5,000 hit the crypto market. In a recent report, Ethereum co-creator Vitalik Buterin spoke at length about upcoming solutions to Ethereum's (ETH) staking, block production issues, and prevent centralization of proof-of-stake to Ethereum L1.
Long-term Ethereum (ETH) holders have displayed strong confidence in the cryptocurrency's potential for continued price growth, especially compared to short-term investors. BeInCrypto noted this trend after analyzing market sentiment using on-chain data.
A software provider for the Ethereum network, Consensys Inc. let goes 162 positions which make up 20% of the firm's workforce.
GalaSwap evolves into GalaConnect, offering seamless Ethereum bridging, dynamic fees, and enhanced account management within the GalaChain ecosystem, as reported by Gala News.
American crypto asset manager Grayscale Investments has announced that two of its major regulated funds, the Bitcoin and Ethereum Mini Trusts have hit a major milestone. As contained in a press release, the products have accumulated $750 million since their debut in July.
In response to promising signals in the crypto market, major investors ("whales") are massively accumulating Ethereum. This trend, coupled with a significant increase in new wallets, suggests bullish potential for the second-largest cryptocurrency by market capitalization.
TL;DR The staked ETH market has cooled off in 2024, with staking rewards declining. Competition for ETH staking has increased, driven by new protocols with higher yields. USDT experiences a devaluation following rumors of a DOJ investigation, while the correlation between BTC and ETH stabilizes.
Grayscale Investments announced on Tuesday that its newly launched Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) exchange-traded products (ETPs) have attracted significant investor interest, recording inflows exceeding $750 million since their respective launches in July 2024. What Happened: The Grayscale Bitcoin Mini Trust (NYSE:BTC) and Grayscale Ethereum Mini Trust (NYSE:ETH) are promoted as the world's lowest-fee ETPs in their categories, with annual expense ratios set at 0.15%.
The amount of Ethereum (ETH) being held on cryptocurrency exchanges has recently plunged by around $750 million after massive withdrawals of the second-largest cryptocurrency by market capitalization from these platforms.
Cryptocurrencies and regulation: the standoff between Consensys and the SEC leads to drastic staff cuts
Data from Farside Investors reveals interesting figures in the Ethereum ETF sector of the cryptocurrency market. Fidelity Investments has come out on top again in its daily report of institutional interest in the world's leading altcoin.
While October has certainly been a rough month for Ethereum, the past week underscores a turning point in sentiment as exchanges see $750 million in ETH withdrawals. The post ETH Price Set for Rally? Massive $750M Ethereum Outflow Hints at Bullish Sentiment appeared first on Cryptonews.
Toncoin's holder count is rising fast, suggesting it may soon overtake Ethereum.
Consensys will focus core offerings like crypto wallet MetaMask and Ethereum layer-2 network Linea, a spokesperson told Decrypt.
Vitalik Buterin responded to criticism regarding the current state of Ethereum's Layer 2 user experience. Many said it needed to be more cohesive and simplified.
Price action in Ethereum has attracted the attention of investors and analysts alike, as it trades near a critical support level at $2,600. Analyst Ali Martinez has pinpointed this region as the critical threshold that Ethereum will cross before it makes its next significant move.
Analysts said Ethereum's staking yields are now lower than those of other major Layer 1 protocols, which offer yields between 7% and 21%.
Vitalik Buterin outlines Ethereum's “The Splurge,” focusing on quantum resistance.
