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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.

This decentralized, global team of developers is ignoring the urge to be the first to scale Ethereum. For its holistic approach to build broadly and transparently, Scroll is one of CoinDesk's Projects to Watch 2023.

Scroll Aims to Be the Turtle That Wins the Ethereum Scaling Race

One of the first projects to integrate the intriguing new mechanism of Account Abstraction has already gotten Visa on board to secure payments processing for crypto transactions. That's why StarkNet is a 2023 Project to Watch.

StarkNet Aims to Enhance Scalability, Privacy and Security on Ethereum

Nearly $2 billion worth of Ethereum (ETH) is set to be unstaked after the top smart contract platform's Shapella update went live last week. In a new report, crypto analytics platform IntoTheBlock finds that 868,631 of staked ETH, worth more than $1.8 billion at time of writing, are currently in queue waiting to be withdrawn.

Over $1,800,000,000 in Ethereum Waiting To Be Unstaked Following Shapella Update: IntoTheBlock

The price of ether (ETH) has been resilient following the Shanghai Fork (aka Shappela) last week, Coinbase (COIN) said in a research report Friday.

Ether's Strong Price Action May Continue Until the End of the Month: Coinbase

Significant withdrawals after the Shanghai upgrade and the dollar's strength may be weighing on the second-largest cryptocurrency.

Ethereum Tapers Gains After 12% Rise Post-Shanghai

Former Goldman Sachs executive Raoul Pal says that there's one big overlooked opportunity in the Ethereum (ETH) ecosystem. The macro guru tells his nearly one million Twitter followers that CryptoPunks, one of the biggest non-fungible token (NFT) projects in existence, are starting to look appealing.

Former Goldman Sachs Executive Details Big Crypto Opportunity in Ethereum (ETH) ‘Mega Trend'

Some traders are restaking the ether withdrawn since the Shapella upgrade, quashing bearish price forecasts.

Over 1M Ether Withdrawn After Shapella Fails to Dent Risk Appetite

Deposited ether since Ethereum's Shanghai hard fork went live, meanwhile, stands at 373,040 — creating a net staking balance of -646,210.

1 million ether has been withdrawn since Ethereum's Shanghai hard fork

Bitcoin

Dogecoin

Major coins traded mixed on Sunday evening as investors digested the news of softening U.S. economic data.

Ethereum, Dogecoin Rise Even As Bitcoin Drops Below $30K: Why This Analyst Thinks Apex Crypto Can Hit All-Time High This Year

ALSO: In his latest Money Reimagined column, CoinDesk Chief Content Officer Michael Casey writes that to prevent the potentially destructive impact of AI, we need open-source innovation and collective governance that is possible through blockchain protocols and Web3, not the monopoly defaulting structure of Web2.

First Mover Asia: Ether Price Hits Fresh 11-Month High

Beyond the numbers, there were many reasons why this was a good week in coins.

This Week in Coins: Bitcoin Recovers $30K as Ethereum's 'Shapella' Goes Live

ARK Invest CEO Cathie Wood says that Bitcoin (BTC) and Ethereum (ETH) are serving as flight to safety assets as the world's economy becomes increasingly disrupted.

Bitcoin and Ethereum Acting As Flight to Safety Amid Global Order Disruption, Says Cathie Wood

Following the Shapella hard fork on April 12, 2023, approximately 332,368 ether, valued at around $699 million, has been withdrawn. Despite these withdrawals, liquid staking protocols like Lido, Rocketpool, and others have experienced an increase in ether deposits over the last 30 days.

Liquid Staking Protocols See Increase in Monthly ETH Deposits Despite Withdrawals Post-Shapella Hard Fork

Ethereum remained above $2,100 to start the weekend, despite crypto markets moving into consolidation. Following this week's gains, traders have seemingly started to secure gains, with the global market cap down by 0.52% as of writing this. Bitcoin has fallen below yesterday's peak above $31,000.

Bitcoin, Ethereum Technical Analysis: ETH Remains Above $2,100 to Start the Weekend 

Four days after the Shanghai upgrade and there are still more than 100,000 validators that need to update if they want to leave the network.

$598M in Ethereum Still Waiting on Updated Withdrawal Credentials: Nansen

Polygon

A crypto investor who pocketed millions of dollars from trading Polygon (MATIC) is going long on a competing Ethereum (ETH) layer-2 project. New data from blockchain-tracking firm Lookonchain reveals that a deep-pocketed trader who started buying MATIC last July when it cost just $0.50 has recently purchased $2.

Trader Who's Made Over $3,000,000 on Polygon Since July Goes Long on Rival ETH Layer-2 Project: On-Chain Data

The price of ether has increased following Ethereum's Shapella upgrade — which Grayscale believes is "a bullish event."

Ethereum's pending withdrawals top $3 billion after ‘bullish event,' Shapella

By its nature, bitcoin is a stable thing, and because it doesn't change, it isn't exactly the talk of the town, Michael Safai said.

Bitcoin Is the 'Boring, Old Grandpa' Right Now Compared to Ether: Dexterity Capital Manager Partner

BTC and ETH have risen about 8% and 12%, respectively over the past seven days. While BTC has driven the market this year so far, the Shapella upgrade has boosted ETH trading, according to an analyst.

Bitcoin Holds Steady Near $30.5K, Ether Circles Around $2.1K

Bitcoin (CRYPTO: BTC) spiked up about 2% higher at one point during Friday's 24-hour trading session before running into a group of sellers who knocked the crypto down near to flat. The crypto has been consolidating mostly sideways near the $30,000 mark since Tuesday, trying to make a run above the level but lacking volume.

A Look At Bitcoin, Ethereum, Dogecoin Into The Weekend: Can Bitcoin Maintain $30,000? Ethereum $2,000?

The rebalancing comes as ether rallies off a successful Shapella upgrade.

Olympus DAO Votes to Buy More ETH for Treasury Backing OHM Token

Arbitrum

Bitcoin (CRYPTO: BTC) moved higher, with the cryptocurrency prices trading above the $30,600 level on Friday. Ethereum (CRYPTO: ETH) also moved higher, hitting the key $2,100 mark this morning.

Ethereum Hits $2,100 Following Economic Data; Rocket Pool, Arbitrum Among Top Gainers

Amid concerns over mass withdrawals, in the last 24 hours, roughly 94,800 Ethereum has been deposited to the network.

$198M in Ethereum Staked to Network in Last 24 Hours

The latest price moves in bitcoin (BTC) and crypto markets in context for April 11, 2023. First Mover is CoinDesk's daily newsletter that contextualizes the latest actions in the crypto markets.

First Mover Americas: Ether Steals the Show, Alts Follow Suit

Bitcoin moved towards the $31,000 mark on Friday, ahead of upcoming retail sales data from the United States. Sales are expected to remain flat, whilst overall consumer sentiment is forecasted to rise to 62.7, from a reading of 62.0. Ethereum extended recent gains, hitting an eleven-month high in the process.

News for Ethereum Crypto (ETH)