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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.

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

Bitcoin

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

Dogecoin

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.

Bitcoin, Ethereum Technical Analysis: BTC Nears $31,000, as ETH Hits 11-Month High

A leading analytics firm says that leading smart contract platform Ethereum (ETH) is flashing a bullish signal after the Shapella upgrade. Santiment says that a significant number of traders betting against ETH after Wednesday's upgrade could trigger a bigger move to the upside. “Another thing to keep an eye on is perpetual contract funding rates.

Ethereum Flashing Bullish Signal After Shapella Upgrade, Says Analytics Firm Santiment – But There's a Catch

Shiba Inu

Singapore-based crypto exchange Bitrue has been hit by a security breach, draining a hot wallet of $23 million in various assets.

Hacker Robs Crypto Exchange Bitrue of $23M in Ethereum, SHIB, Other Assets

Bitrue said the affected wallet contained “less than 5%” of overall reserves.

Crypto Exchange Bitrue Drained of $23M in Hack of Ether, Shiba Inu, Other Tokens

More than 7 million transactions have been conducted on the network since launch, which can process 3.5 transactions per second, data shows.

Ethereum Layer 2 Network zkSync Era Jumps to Nearly $250M in Locked Value

Propelled by the latest Shanghai upgrade, the price of Ethereum has recaptured the $2,100 mark last seen in May 2022.

Ethereum Soars to Eleven-Month High Post-Shanghai Upgrade

The Ethereum price (ETH) has reached the symbolic figure of $2,000.

Ethereum Nears $2,200, But Could Face Resistance

Ether Options Trading Volume Surpasses Bitcoin As Shanghai Upgrade Drives Demand for Bullish Bets

Shapella's stable rollout likely drove positive sentiment to Ethereum staking-based protocols.

Ether, Dogecoin Lead Crypto Market Bounce; Lido's Staked Ether Breaks Into Top Ten

Following Ethereum's Shapella upgrade, the price of ether is only increasing — but $2.2 billion in ETH awaits withdrawal.

News for Ethereum Crypto (ETH)