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Ethereum

The Ethereum blockchain was built to serve as a single source of truth backed by a public transaction database and to function as a platform for a variety of decentralized applications ranging from financial services to games. Ether is the native token for the Ethereum ecosystem.

The Ethereum blockchain is preparing a significant upgrade, called the Ethereum Merge, tentatively scheduled for Sept. 13-16, 2022.

The Merge reflects a shift in Ethereum’s protocol in which the blockchain will move from a “proof-of-work” to “proof-of-stake” system.

Miners validate transactions by solving complex calculations before a new block can be added to the chain. This is the mechanism that Bitcoin ($BTC) runs on.

Miners are replaced by “validators,” who stake the ETH they own to validate new blocks on the chain. Avalanche ($AVAX) and Solana ($SOL) are proof-of-stake.

The Ethereum Foundation reports that moving to a proof-of-stake model will reduce the blockchain’s energy consumption by more than 99%.

Ether ($ETH) is Ethereum’s native crypto asset, while Ethereum is the underlying blockchain. No disruptions to ETH are expected following the Merge.

Unlike Bitcoin, the founder of Ethereum is publicly known. Vitalik Buterin published Ethereum’s introductory paper in 2013 and launched the project in 2015.

The Ethereum blockchain was built to serve as a single source of truth backed by a public transaction database and to function as a platform for a variety of decentralized applications ranging from financial services to games.

The Ethereum Foundation

*This content is for educational purposes and is not investment advice.

In this week's issue of The Protocol, we highlight layoffs hitting key firms as well, and how blockchain projects are competing for new mandates – specifically big Ethereum layer-2 developers like OP Labs, Polygon and Matter Labs vying to provide the technology for the Celo blockchain's new network

The Protocol: Which Ethereum Layer-2 Project ISN'T Competing to Land Celo?

Bitcoin

Ether futures ETFs saw lackluster demand since going live on Monday, registering only 0.2% of bitcoin futures ETFs' 2021 launch volume.

Ether futures ETFs fail to impress: K33 advises rotating back to bitcoin

Bitcoin marginally rebounded on Wednesday, after the cryptocurrency collided with a key support point in yesterday's session. Markets have consolidated Tuesday's losses, with the global crypto market cap up 0.7% as of writing this. Ethereum remained under the $1,700 level.

Bitcoin, Ethereum Technical Analysis: BTC Rebounds From Key Price Floor on Wednesday

Dogecoin

Major cryptocurrencies experienced a significant decline as concerns rose over the possibility of higher interest rates stalling the housing market and potentially pushing the economy into a recession.

Bitcoin, Ethereum, Dogecoin Tumble Amid Recession Worries: Analyst Says 'Uptober Has Been Temporarily Postponed'

Ethereum Layer 2 developer StarkWare has delayed the first unlocks of its native StarkNet (STRK) token to April 2024.

Ethereum Layer 2 StarkWare delays first token unlocks to April 2024

The latest price moves in bitcoin (BTC) and crypto markets in context for Oct. 3, 2023. First Mover is CoinDesk's daily newsletter that contextualizes the latest actions in the crypto markets.

First Mover Americas: Slow Start for Ether Futures ETFs

Since 2020, applications for liquid staking on the Ethereum blockchain have seen steady growth, and as of the first week of October 2023, a total of 23 liquid staking derivatives (LSD) platforms hold 12.4 million ether, valued at over $20 billion. Currently, the top three LSD protocols hold sway over 11.

Lido, Coinbase, and Rocket Pool Corner 89% of Ethereum's Booming $20 Billion Liquid Staking Market

Pepe

Bitcoin (CRYPTO: BTC) traded lower, with the cryptocurrency prices falling below the $28,000 level on Tuesday. Ethereum (CRYPTO: ETH) also moved lower, falling below the key $1,700 mark this morning.

Ethereum Falls Below $1,700; Pepe, Sui Among Top Losers

A Bitcoin (CRYPTO: BTC) ETF is looking very likely, with the world's leading crypto asset manager, Grayscale, as a possible front-runner to be approved by the SEC. In the meantime, Grayscale is lengthening its lead by applying to convert the Grayscale Ethereum Trust (ETHE) to a spot Ethereum exchange-traded fund (ETF).

EXCLUSIVE: Tim Draper Reflects On Bitcoin ETF As Grayscale Announces New Ethereum Fund

Bitcoin retreated from a multi-week high on Tuesday, after cryptocurrencies entered overbought territories. Traders have seemingly opted to capture recent profits, ahead of key data points later this week. Ethereum slipped below $1,700. Bitcoin Bitcoin (BTC) edged below the $28,000 level during today's session, as traders moved to secure Monday's gains.

Bitcoin, Ethereum Technical Analysis: BTC, ETH Plunge, as Profit Takers Swoop In

Cryptocurrency price analysis brought by Coinidol.com. The Ethereum (ETH) price is currently held at its high of $1,765 as bears signal short selling.

Ethereum Bounces Above $1,700, Bears Signal Short Selling

UBS Asset Management has announced the launch of a tokenized Variable Capital Company (VCC) fund through a live pilot.

UBS Launches Tokenized Fund on Ethereum as Part of Monetary Authority of Singapore's Project Guardian

Nine new Ethereum (ETH) futures exchange-traded funds (ETFs) launched on October 2.

Ethereum Futures ETF Launches to Muted Volumes

Major cryptocurrencies faced a downfall as the U.S. 10-year yield surged to its highest level in over 16 years.

Bitcoin, Ethereum, Dogecoin Tumble As US 10-Year Yield Touches 16-Year Highs: Analyst Says, 'Fake Satoshi' Account Opens Window To Buy The Dip

Bitcoin slumped below $28,000, and ether dipped below $1670.

Bitcoin Slumps Below $28K as Yields Spike; Ether Futures ETFs Fizzle on Lukewarm Investor Interest

Several exchange-traded funds ETFs focusing on Ethereum (CRYPTO: ETH) futures were introduced to the market. This marked a significant milestone as these are the inaugural ETFs centered on Ethereum futures, coming nearly two years post the introduction of the first Bitcoin (CRYPTO: BTC) futures ETF, The Block reported.

Crypto Investors Rejoice As Ethereum Futures ETFs Finally Launch

Swiss multinational investment bank and financial services company UBS is launching a “tokenized money market fund” pilot program on Ethereum (ETH). In a new blog post, UBS Asset Management announces what it calls the “first blockchain-native tokenized VCC fund pilot” in Singapore.

Banking Giant UBS Launches Tokenized Money Market Fund Pilot on Ethereum (ETH)

Among the more popular of the new ETFs today, VanEck's Ethereum Strategy ETF (EFUT) traded just shy of 25,000 shares at a price roughly averaging $17 per share.

Ether Futures ETFs See Low Volume in First-Day Trading

Crypto markets are spiking as the launch of three major Ethereum (ETH) futures exchange-traded funds (ETFs) debut. Announcements today from VanEck, ProShares and Bitwise confirm the launches of futures ETFs based on the price of ETH. Says ProShares' CEO Michael L.

Crypto Markets Rise As Ethereum Futures ETFs From VanEck, ProShares and Bitwise Launch

Ethereum co-founder Vitalik Buterin discussed potential enhancements to the Ethereum (CRYPTO: ETH) protocol. Amidst the technical details, the core message was clear: Ethereum might be undergoing significant changes, especially in the realm of staking.

Vitalik Buterin Hints At Major Changes For Ethereum, Especially Staking

Grayscale Investments, the largest digital asset fund manager by assets under management (AUM), has filed to convert its Ethereum Trust into a spot ether exchange-traded fund (ETF). The news follows ether futures ETFs from Vaneck, Bitwise, and Proshares launching on Monday.

Grayscale Moves to Convert Ethereum Trust to Spot ETF Amid Surge in ETH Futures ETF Launches

Three ether futures ETFs launched on Monday. The total volume was far lower than ProShares' bitcoin product.

Ether futures ETFs see low volumes of trading in first few hours

Nine Ethereum futures ETFs started trading today, but demand has been lower so far than at the ProShares Bitcoin Strategy ETF launch in 2021.

Ethereum Future ETFs Start Trading in US for First Time

If approved, the conversion would likely help drop the hefty discount on Grayscale's Ethereum trust.

Grayscale Files to Convert Ethereum Trust Into Spot ETF

UBS (NYSE: UBS) cut jobs last month at its Credit Suisse subsidiary. After trimming forces in the asset management division, UBS Asset Management is now looking forward to its first live pilot program of tokenized money market fund on Ethereum.

News for Ethereum Crypto (ETH)