#EIP 4844

[christophbergmann]

Nach dem Dencun-Upgrade: Dauertiefpreise auf Ethereum-Rollups

Nach dem Dencun-Upgrade: Dauertiefpreise auf Ethereum-Rollups Vergangene Woche wurde das Dencun-Upgrade auf Ethereum aktiviert. Mit EIP-4844 vergünstigte es den Betrieb von Rollups. Wie erhofft sanken die Gebühren auf diesen drastisch. Wird damit Vitalik Buterins Ideal vom "Internet of Money" wahr?

Vergangene Woche wurde das Dencun-Upgrade auf Ethereum aktiviert. Mit EIP-4844 vergünstigte es den Betrieb von Rollups. Wie erhofft sanken die Gebühren auf diesen drastisch. Wird damit Vitalik Buterins Ideal vom “Internet of Money” wahr? Continue reading Nach dem Dencun-Upgrade: Dauertiefpreise auf Ethereum-Rollups

[unpluggedfinancial]

The SEC Approves Ethereum ETFs: A New Era for Institutional Adoption

The U.S. Securities and Exchange Commission (SEC) has recently approved the first batch of spot Ethereum (ETH) ETFs, marking a pivotal moment for Ethereum and the broader cryptocurrency market. This approval is anticipated to usher in increased institutional adoption and liquidity, setting the stage for potentially significant price movements and technological advancements within the Ethereum ecosystem.

Key Implications of the ETF Approval

1. Institutional Adoption and Market Liquidity: The approval of Ethereum ETFs is a critical development that could lead to a surge in institutional investment. This influx of institutional funds is expected to enhance market liquidity, making Ethereum a more attractive asset for both retail and institutional investors. By allowing investors to gain exposure to Ethereum through regulated financial products, the ETFs reduce the barriers to entry and provide a more secure investment avenue.

2. Potential Price Surge: Market analysts predict a substantial increase in Ethereum's price due to the ETF approval. Standard Chartered analysts foresee Ethereum's price potentially doubling, reaching $4,000 or higher by the end of the year if the ETFs perform well and attract significant investment. This optimistic outlook is driven by the expectation that the ETFs will boost demand for Ethereum, thus driving up its price.

3. Technological Advancements: Alongside the regulatory advancements, Ethereum is also making strides in technological innovation. The implementation of roll-up technology and EIP-4844 are poised to significantly increase the network's transaction capacity and efficiency. These upgrades are crucial for maintaining Ethereum's competitiveness, especially as it faces stiff competition from other blockchains like Solana.

Trading Strategies for the Evolving Landscape

The approval of Ethereum ETFs presents new opportunities and strategies for traders and investors. Here are a few approaches to consider:

1. Volatility Management: Given the potential for increased volatility around the ETF approval dates, strategies such as dynamic hedging and dollar-cost averaging could be beneficial. These methods help manage risk and capitalize on price fluctuations.

2. Market Sentiment Analysis: Understanding and exploiting market sentiment is crucial, especially in a market influenced by speculation about institutional adoption and ETF approvals. Using tools like artificial intelligence and machine learning to analyze social media, news outlets, and other sources for sentiment indicators can provide valuable insights for trading decisions.

3. Contrarian Investing: Taking positions against the market consensus when sentiment analysis suggests extremes of optimism or pessimism can be a profitable strategy. This approach, often summarized as "buy the rumor, sell the fact," involves making trades based on anticipated market reactions to news events.

4. Timing Regulatory Decisions: Staying informed on regulatory developments is essential. Strategically timing trades around the expected decision dates for ETF approvals can help investors capitalize on market movements triggered by anticipation and reaction to such news.

The Path Forward for Ethereum

The approval of Ethereum ETFs is a monumental step forward, but it also underscores the ongoing challenges and opportunities within the Ethereum ecosystem. As Ethereum continues to evolve, addressing scalability, security, and privacy concerns will be crucial for sustaining its growth and adoption. The network's ability to navigate the competitive landscape, marked by rivals like Solana and Cardano, will play a significant role in shaping its future.

As we move through 2024, Ethereum stands on the brink of transformative growth. The convergence of regulatory advancements, technological upgrades, and increasing institutional interest sets the stage for Ethereum to solidify its position as a leader in the blockchain and decentralized finance space.

For those interested in the future of Ethereum and the broader cryptocurrency market, staying informed and adaptive to the rapidly changing landscape will be key to navigating this exciting new era.

By understanding the implications and opportunities presented by the approval of Ethereum ETFs, investors and enthusiasts can better position themselves to take advantage of this significant development in the cryptocurrency world.

[argumate]

On March 13, the Dencun hard fork activated, enabling one of the long-awaited features of Ethereum: proto-danksharding (aka EIP-4844, aka blobs).

proto-danksharding--

[coineagle]

Ethereum vs Solana: Is there a Mass Exodus of ETH Developers?

Key Points

Concerns about scalability issues within Ethereum are leading developers to explore alternatives like Solana.

Max Resnick, a prominent Ethereum developer, has recently moved to the Solana ecosystem.

Max Resnick’s move from Ethereum to Solana is indicative of a larger trend within the developer community.

Ethereum’s scalability issues, high gas fees, and slow transaction speeds are driving developers to seek more efficient alternatives.

Emergence of Solana

Solana is becoming a strong contender in the DeFi space, thanks to high-profile shifts like that of Resnick.

This trend raises questions about Ethereum’s once dominant position in the DeFi ecosystem.

Resnick’s shift is not merely a career change, but a reflection of the broader dissatisfaction within the Ethereum community.

This open criticism and exploration of other blockchain ecosystems indicates that Ethereum’s dominance could be more vulnerable than previously assumed.

Ethereum’s Struggles and Solana’s Growth

Ethereum’s ability to compete with Solana’s innovation depends on its response to its scalability issues.

Solana’s lower fees and faster transaction speeds are outpacing Ethereum’s performance.

Data post-October 2024 highlights Solana’s significant growth in decentralized exchanges, while Ethereum continues to grapple with high gas fees and network congestion.

Despite these challenges, Ethereum’s strength lies in its robust development ecosystem and extensive institutional backing.

Recent upgrades such as EIP-4844 aim to address these limitations.

The crux will be whether Ethereum can implement its scaling solutions quickly enough to counter Solana’s growing momentum, particularly as developer interest in alternative ecosystems continues to increase.

If Ethereum is unable to adapt swiftly, its competitive advantage could significantly diminish.

[dwcrypto]

The Future of Ethereum: What’s Next After Ethereum 2.0?

Ethereum has long been one of the most influential and widely used blockchain platforms in the cryptocurrency world. After the highly anticipated Ethereum 2.0 upgrade (also known as Eth2), many in the blockchain community are now asking: What comes next for Ethereum? In this article, we will explore the key upgrades Ethereum 2.0 brought to the table and look ahead at the next steps for the platform’s evolution.

What Is Ethereum 2.0?

Before diving into the future, it’s important to understand what Ethereum 2.0 (Eth2) entails. Ethereum 2.0 is a series of upgrades aimed at improving the scalability, security, and sustainability of the Ethereum blockchain. The major change introduced with Ethereum 2.0 was the transition from the Proof of Work (PoW) consensus mechanism to Proof of Stake (PoS). This move is designed to make Ethereum more energy-efficient, reduce transaction costs, and enhance the network’s ability to process more transactions per second (TPS).

The main phases of Ethereum 2.0 include:

The Beacon Chain (Phase 0): Launched in December 2020, this established the Proof of Stake mechanism and allowed validators to stake ETH on the new network.

The Merge (Phase 1.5): In September 2022, Ethereum merged its original PoW chain with the PoS Beacon Chain, officially ending mining and transitioning fully to PoS.

Shard Chains (Phase 2): This phase will introduce shard chains, splitting the Ethereum blockchain into smaller, more manageable pieces to dramatically increase the network’s scalability.

With Ethereum 2.0 now fully integrated, what lies ahead for the Ethereum ecosystem?

What’s Next After Ethereum 2.0?

While Ethereum 2.0 is a monumental shift, there are still many upgrades and improvements planned for the future. Here’s a look at what’s next in the Ethereum roadmap:

1. Sharding and Scalability

The biggest change coming to Ethereum after Ethereum 2.0 is sharding. Sharding is the process of dividing the Ethereum network into smaller pieces, or “shards,” each of which processes its own transactions and smart contracts. This will increase the scalability of Ethereum by allowing the network to process many more transactions in parallel.

Sharding is expected to address one of Ethereum's most significant challenges—scalability. As Ethereum’s usage grows, the blockchain can become congested, leading to slow transaction times and high fees. Sharding will help alleviate this by distributing the load across multiple shards, which will significantly improve throughput and lower gas fees for users. GCB Exchange is an ideal platform for users who want to trade Ethereum and other cryptocurrencies seamlessly, as it’s built to handle the increased scalability that sharding will bring.

2. Ethereum Improvement Proposals (EIPs)

While Ethereum 2.0 has made vast improvements, the network is continually evolving with Ethereum Improvement Proposals (EIPs). These are suggestions made by the Ethereum community to improve various aspects of the blockchain. Some of the most notable future EIPs include:

EIP-4844 (Proto-danksharding): This proposal aims to bring proto-danksharding to Ethereum, a short-term solution to enable cheaper rollups before full sharding implementation.

EIP-4488: Aiming to lower the cost of data availability for layer 2 solutions, this proposal would provide a temporary boost to Ethereum's scalability and improve Ethereum's throughput.

The continued development of these EIPs will help shape the future of the network, bringing about improvements in both performance and user experience, and platforms like GCB Exchange are well-positioned to take advantage of these future improvements.

3. Layer 2 Solutions: Optimism and ZK-Rollups

While sharding will provide a major scalability boost, Layer 2 solutions such as Optimistic Rollups and Zero-Knowledge (ZK) Rollups will play a crucial role in Ethereum’s future.

Optimistic Rollups and ZK-Rollups are technologies that process transactions off the Ethereum main chain, reducing congestion and lowering fees. Optimistic rollups assume transactions are valid by default and only verify them when challenged, while ZK-rollups use cryptographic proofs to validate transactions instantly.

These Layer 2 solutions are already in use on the Ethereum network and will continue to grow in importance as Ethereum expands. They are essential for improving Ethereum’s scalability, reducing gas fees, and increasing the speed at which transactions are processed. GCB Exchange supports many of these advanced Layer 2 solutions, allowing users to trade Ethereum with minimal fees and faster transaction times.

4. Ethereum as the Backbone for Web3 and Decentralized Finance (DeFi)

Ethereum’s transition to a fully decentralized and scalable network will further solidify its position as the backbone of Web3 and DeFi ecosystems. Web3 aims to create a decentralized internet where users have control over their data and assets. Ethereum, with its smart contract capabilities, is perfectly suited to support Web3 applications.

The growing popularity of DeFi (Decentralized Finance) applications, which allow users to access financial services without intermediaries, also depends heavily on Ethereum’s infrastructure. As Ethereum scales and becomes more efficient, DeFi platforms will be able to reach more users, offer faster transactions, and lower fees—unlocking greater potential in the decentralized finance space. GCB Exchange offers a variety of DeFi-related services, ensuring users can easily participate in the decentralized financial ecosystem while keeping their assets secure.

5. Ethereum and the Rise of NFTs

Another area where Ethereum’s future looks promising is in the field of NFTs (Non-Fungible Tokens). Ethereum remains the dominant blockchain for NFTs, with the majority of NFT projects being built on the network. As Ethereum 2.0 and beyond evolve, the NFT ecosystem will continue to thrive, offering new possibilities for artists, gamers, and creators across various industries.

NFTs could potentially expand beyond digital art and collectibles into other sectors such as gaming, virtual real estate, and identity verification. Ethereum’s continuous improvements will allow for more efficient and user-friendly NFT creation and trading, solidifying its role as the NFT platform of choice.

6. Sustainability and Energy Efficiency

Ethereum’s switch to Proof of Stake (PoS) through Ethereum 2.0 was a critical step towards reducing its energy consumption and environmental impact. While Bitcoin’s energy-intensive mining process remains a point of criticism, Ethereum’s PoS mechanism significantly reduces its carbon footprint.

Looking forward, Ethereum’s development team and broader ecosystem will likely continue to focus on sustainability, potentially incorporating additional green technologies into its operations. Ethereum’s commitment to environmental responsibility will likely influence the future of the blockchain space and attract more environmentally conscious investors and developers.

Conclusion: Ethereum’s Bright Future

Ethereum has already undergone one of the most transformative upgrades in blockchain history with Ethereum 2.0. As the network continues to evolve, Ethereum’s roadmap promises even greater scalability, efficiency, and decentralization. The introduction of sharding, improvements through EIPs, the rise of Layer 2 solutions, and Ethereum’s continued dominance in Web3, DeFi, and NFTs, ensure that Ethereum’s future remains as bright as ever.

Ethereum’s ongoing upgrades will solidify its position as the leading blockchain platform and a core component of the decentralized web. As Ethereum matures and adapts to the changing demands of the crypto ecosystem, the future looks promising for developers, investors, and users alike. Whether you’re trading Ethereum or exploring the new DeFi landscape, GCB Exchange offers a secure, scalable, and user-friendly platform to navigate the evolving crypto world.

[blockinsider]

Ethereum Layer 2 TVL Skyrockets with 205% Surge, Reaching Unprecedented Levels in 2024

Key Points

Ethereum Layer 2 platforms’ total value locked (TVL) has seen a 205% increase, reaching a record high of $51 billion.

Arbitrum and Base are the two major contributors to this growth, with TVLs of $18.3 billion and $11.4 billion respectively.

Despite facing criticism, the Ethereum ecosystem has shown impressive performance. This success is largely due to the Layer 2 platforms, which have seen their cumulative total value locked (TVL) grow by a staggering 205% this year, reaching a record high of $51 billion. This growth indicates a rising investor interest in Ethereum-native assets.

In November 2023, the Ethereum Layer-2 TVL was just $16.6 billion. It has since surged by an impressive 205%, crossing the $51 billion mark according to the current data from L2BEATS.

Role of Ethereum Layer 2 Solutions

Ethereum Layer 2 solutions have been instrumental in improving the network’s scalability. They achieve this by offloading transactions onto secondary chains, which lessens the load on the Ethereum mainnet and reduces the chance of network congestion. This also results in shorter wait times and lower transaction costs.

However, there are concerns within the industry that Layer 2 solutions could potentially be “cannibalistic.” This refers to the possibility that they could decrease revenue for the Ethereum mainnet and limit Ether’s price growth.

Major Contributors: Arbitrum and Base

The two primary contributors to the Ethereum Layer 2 TVL exceeding $51 billion are Arbitrum and Base. Arbitrum, the leading Layer 2, alone holds over $18.3 billion in TVL, accounting for a significant 35% of the total TVL.

The Coinbase L2 network Base is the second-largest network, with a total of $11.4 billion in TVL. This represents 22% of the cumulative total L2 TVL. Arbitrum’s TVL rose by over 12%, while Base saw an 11.4% increase in the week leading up to November 28.

On November 26, Base recorded a record 106 transactions per second (TPS) as its TVL surpassed the $10 billion mark for the first time. Furthermore, Base recently exceeded 1 billion total transactions, largely driven by the ongoing memecoin frenzy during this bull cycle.

Impact of Dencun Upgrade on L2 Fee Stabilization

Following the Ethereum Merge event in 2022, when the Ethereum blockchain transitioned into a PoS network, it underwent a significant upgrade known as Dencun in March 2024.

Nick Dodson, co-founder and CEO of Fuel Labs, noted that this upgrade played a crucial role in stabilizing fees across Layer 2 networks. He stated, “On the point of EIP-4844, a lot of people talk about the fee reduction, but it’s more about fee stabilization. It’s actually more about expanding capacity and scale and not so much lowering fees.”

Several Ethereum Layer 2 networks, including Starknet, Optimism, Base, and Zora OP Mainnet, experienced a 99% reduction in median transaction fees following the upgrade’s implementation.

The Ethereum price is showing strength once again, recovering over 15% from the lows of $3,000 last week. The Ethereum futures open interest on CME exchange has also reached a new all-time high, indicating bullish sentiment among investors. The next major milestone for ETH would be $4,000 before it sets the path for a new all-time high.

[coinmystique]

Ethereum introduced a significant improve known as “Deneb-Cancun” or “Dencun” some time in the past. Reportedly, it was supposed to repair the scalability points whereas implementing an enchancment proposal named EIP-4844. Nevertheless, the event crew not too long ago revealed that the much-awaited improve might get delayed. Earlier than moving into the nitty-gritty of it, let’s be taught what Dencun actually is.What Makes Dencun So Important?As talked about above, the improve will assist Ethereum to be extra scalable. It'll deliver modifications throughout the community’s two mainnet layers: the execution layer and the consensus layer. Whereas the previous will supervise good contract execution, the latter will handle consensus through staking. Furthermore, the improve will likely be carried out in a categorized vogue. The one which will likely be utilized to the execution layer will likely be known as Cancun. However, the consensus one will likely be referred to as the moniker Deneb.  Thus, collectively they're known as Deneb-Cancun. Essentially the most notable function of this improve is the Ethereum Enchancment Proposal 4844. Also referred to as proto-danksharding, this proposal will speed up the community’s scalability. Furthermore, it would take the present capabilities of Layer 2 options forward. The EIP-4844 will activate the retrieval of off-chain information and non permanent storage by Ethereum nodes. By doing so, it would deal with the storage and information necessities of assorted blockchain purposes. Additionally, builders predict that EIP-4844 will deliver down the transaction prices on Layer 2 rollup options. Applications like Arbitrum and Optimism will profit from this replace. What's the Motive Behind the Delay?On September 21, Ethereum’s consensus-layer crew held a gathering to debate the launch plan for Dencun. The moderator of the assembly, Tim Beiko from the Ethereum Basis, expressed considerations in regards to the delay. He stated that the improve lacks publicity to public testnets like Holesky, Goerli, and Sepolia. He additionally underlined the importance of Dencun’s launch earlier than Devconnect, an Ethereum-focused developer convention slated for November 2023. Beiko stated that if Dencun isn’t launched earlier than the convention, its mainnet activation might not occur this yr. In accordance with him, it might affect another plans of the community as effectively. However, he took cognizance of the present scenario and accepted the upcoming eventuality. He stated that there are lots of technicalities to reckon with and the time isn't ample. So, most likely, the Dencun’s deployment on the mainnet will occur after Christmas. Moreover, he defined that Dencun’s seamless deployment will rely on various factors. From the readiness of shopper groups to consensus layers and software program code, the whole lot must be excellent. Moreover, all of them need to be examined on public testnets. This train will take loads of time. At present, the improve work goes by way of the “devnet phase”. In the course of the conclave, builders talked a couple of localized developer community known as “Devnet 9”. The builders need to use this framework to evaluate the performance of Dencun. The testing on Devnet 9 will most likely occur subsequent week earlier than it goes to the general public testnet part. Whereas the improve might get delayed, customers would fairly wait than use subpar functionalities.   Nancy J. Allen is a crypto fanatic and believes that cryptocurrencies encourage folks to be their very own banks and step except for conventional financial alternate programs. She can be intrigued by blockchain know-how and its functioning.Newest posts by Nancy J. Allen (see all)Supply: https://www.thecoinrepublic.com/2023/09/23/much-awaited-dencun-upgrade-of-ethereum-maybe-behind-schedule/

[p5ravin]

BNB Smart Chain's BEP-336 Upgrade Poised to Compete with Ethereum's EIP-4844

The Binance Smart Chain (BSC) is gearing up for a major upgrade with the implementation of the BEP-336 proposal, a move that aims to enhance the functionalities and capabilities of the BSC ecosystem. Dubbed as BSC's answer to Ethereum's EIP-4844, the BEP-336 upgrade is expected to bolster BSC's competitiveness and position it as a formidable rival to Ethereum in the decentralized finance (DeFi) space.

The BEP-336 proposal, which stands for Binance Smart Chain Enhancement Proposal 336, introduces several key improvements and features to the BSC network, including:

Enhanced Scalability: One of the primary objectives of the BEP-336 upgrade is to improve the scalability of the BSC network. By optimizing transaction throughput and reducing latency, the upgrade aims to accommodate a higher volume of transactions, thereby enhancing the overall user experience for DeFi applications and decentralized exchanges (DEXs) built on BSC.

Lower Transaction Fees: The BEP-336 upgrade also addresses concerns related to high transaction fees on the BSC network. By implementing optimizations and improvements to the underlying blockchain infrastructure, the upgrade seeks to reduce transaction costs, making it more cost-effective for users to interact with DeFi protocols and conduct transactions on BSC.

Interoperability: Another key aspect of the BEP-336 proposal is to enhance interoperability between the Binance Smart Chain and other blockchain networks. Through the implementation of cross-chain compatibility features, BSC aims to facilitate seamless asset transfers and interoperability with Ethereum and other blockchain ecosystems, fostering greater connectivity and liquidity across decentralized finance platforms.

Security Enhancements: The BEP-336 upgrade includes security enhancements designed to fortify the resilience and robustness of the BSC network against potential threats and vulnerabilities. By implementing advanced security protocols and measures, BSC aims to enhance the trust and reliability of its infrastructure, attracting more users and developers to the platform.

The BEP-336 upgrade is poised to position Binance Smart Chain as a more competitive alternative to Ethereum, particularly in the rapidly growing DeFi sector. With Ethereum facing challenges related to network congestion and high gas fees, BSC's scalability improvements and lower transaction costs could appeal to developers and users seeking a more efficient and cost-effective blockchain platform for DeFi applications.

The comparison between BSC's BEP-336 upgrade and Ethereum's EIP-4844 underscores the intensifying competition between different blockchain networks vying for dominance in the DeFi space. While Ethereum remains the leading platform for DeFi development, BSC's rapid growth and technological advancements pose a formidable challenge to Ethereum's market dominance.

In conclusion, the implementation of the BEP-336 upgrade represents a significant milestone for the Binance Smart Chain ecosystem, signaling its ambition to rival Ethereum as a leading blockchain platform for decentralized finance. With enhanced scalability, lower transaction fees, and improved interoperability, BSC aims to attract more users and developers to its platform, driving further innovation and growth in the DeFi space.

[blockchainfeed]

Bitcoin developer Eric Wall analyzed potential limitations of post-Dencun L2s #Blockchain #Crypto

[christophbergmann]

Wie eine Extraspur für Linienbusse: Ethereum-Upgrade "Dencun" verbessert Skalierung durch "Proto-Dunksharding"

Wie eine Extraspur für Linienbusse: Ethereum-Upgrade "Dencun" verbessert Skalierung durch "Proto-Dunksharding"

Am 13. März soll “Dencun” live gehen: Das Ethereum-Upgrade wird unter anderem Proto-Dunksharding einführen. Dies wird die Gebühren auf Rollups senken – und den ersten Schritt zu vollem Sharding einleiten. Continue reading Wie eine Extraspur für Linienbusse: Ethereum-Upgrade “Dencun” verbessert Skalierung durch “Proto-Dunksharding”

[nigeriabitcoincommunity]

Dencun Upgrade: Up to 90% Reduction on Layer 2 Fees!

The Ethereum blockchain underwent a significant milestone on March 13th, 2024 – the long-awaited Dencun upgrade. Did you notice how fees on Ethereum’s L2 networks have significantly dropped? That’s thanks to Dencun! This update tackles a major hurdle for Ethereum: transaction fees. While there were several improvements in Dencun, the most important one is called EIP-4844, or…

[coineagle]

Ethereum dApp Usage Soars: Will it Propel ETH Beyond the $3,200 Mark?

Key Points

Ethereum’s decentralized application (dApp) ecosystem has seen a 38% increase in activity over the past month.

Despite the increase in network activity, Ethereum’s price action has remained subdued, trading around $3,114.

Ethereum’s dApp Volume Surges

Ethereum’s decentralized application (dApp) ecosystem has experienced a significant increase in activity, with a 38% volume increase in the past month.

This surge indicates a renewed interest in DeFi, NFTs, and gaming sectors. However, it is still uncertain whether this on-chain activity will lead to a bullish breakout for Ethereum’s price.

The Ethereum network has been active with increasing gas usage, transaction volumes, and dApp engagement. Yet, the price action remains cautiously optimistic.

On-chain Activity and Price Action

Recent data from DappRadar showed a steady rise in Ethereum dApp usage. Transaction volumes reached $3.54 billion as of the 19th of November 2024, and the number of daily unique active wallets surged to 78.53k, indicating growing participation in the ecosystem.

Over the last 30 days, the dApp volume increased to nearly $150 billion, marking the highest volume. The data also showed a 37.67% increase over the past month, making Ethereum’s increase the most impactful.

DeFi protocols have largely contributed to this growth, benefiting from a higher total value locked (TVL) as lending and trading activities gain momentum. NFT marketplaces and blockchain-based gaming platforms have also significantly driven transactions.

Despite the network activity increase, Ethereum’s price action has remained subdued, trading around $3,114. The technical outlook has revealed mixed signals as well.

Notably, the 50-day moving average of $2,687 is above the 200-day moving average at $2,957, indicating an overall bullish trend. However, the MACD shows a slight bearish divergence, pointing to weakening momentum.

The RSI at 59.35 reflected neutral conditions, suggesting that Ethereum’s price could move in either direction in the near term. Ethereum must break above critical resistance at $3,200 to sustain its bullish trajectory. On the downside, the $3,000 support level is crucial, as a breach could lead to a prolonged consolidation phase or even a short-term correction.

The significant increase in Ethereum’s dApp volumes underscores strong network demand. However, translating this activity into sustained price growth depends on several factors.

The continued expansion of DeFi and NFT sectors could enhance Ethereum’s intrinsic value, driving investor interest. Additionally, ecosystem upgrades such as EIP-4844 (Proto-Danksharding) are expected to improve scalability and network efficiency, potentially boosting Ethereum’s appeal.

However, challenges remain. High gas fees could deter further user participation, limiting the ecosystem’s growth. Broader macroeconomic conditions and fluctuations in Bitcoin’s price could also weigh on Ethereum’s ability to capitalize on its network activity.

[drewssam]

Coinbase Supports Ethereum’s Next Upgrade, Eip-4844

Coinbase announces its support for Ethereum's forthcoming upgrade, EIP-4844, aimed at drastically reducing layer 2 rollup costs and enhancing on-chain activity efficiency. Dubbed the "Surge," this upgrade follows Ethereum's recent "Merge" and focuses on scalability enhancements like sharding and rollups to facilitate smoother network operations.

Coinbase expresses enthusiasm for the Surge, anticipating its positive impact on reducing transaction fees and enhancing throughput, thereby fostering wider crypto adoption and advancing the transition to web3.

EIP-4844 introduces "proto-danksharding," enhancing data availability for rollups to lower fees and increase transaction throughput. Danksharding simplifies transaction data handling for validators, improving efficiency compared to previous sharding schemes.

Coinbase collaborated with OP Labs and the Ethereum Foundation since May to develop, implement, and test EIP-4844. Notable progress includes full specification, implementation in Prysm and Geth clients, and ongoing preparations for the KZG ceremony and Devnet v1 launch.

The team aims to further refine specifications, expand implementation across clients, and deploy a fully functional testnet in the coming months. Coinbase underscores the importance of safely deploying EIP-4844 to mainnet expeditiously for optimal benefits.

[blockinsider]

Ethereum Supply Surge Raises Inflation Worries: 73 Days of Uninterrupted Growth

Key Points

Ethereum’s supply has been increasing for 73 consecutive days, sparking concerns about inflation.

The EIP-4844, which was part of the Dencun upgrade, is believed to be the cause of this inflation.

Ethereum (ETH) appears to be moving away from its deflationary trajectory after experiencing its longest period of inflation since transitioning to a proof-of-stake model in September 2022. Since mid-April, over 112,000 ETH have been added to the overall supply of the world’s second-largest cryptocurrency, according to data from ultrasound.money. This has led to questions about the network’s long-term sustainability.

EIP-4844’s Impact on Ethereum’s Inflation

The Dencun upgrade, which took place in March, is being blamed for this inflation. The upgrade included nine Ethereum Improvement Proposals (EIPs), with EIP-4844 being the most notable. EIP-4844 introduced “blobs”, a mechanism that separates and temporarily stores transaction data, reducing fees on Ethereum’s layer 2 networks like Arbitrum and Optimism. This proposal is believed to be the cause of the inflation.

EIP-4844 was successful in reducing transaction fees, but it appears to have had unintended consequences. Since its implementation, the total amount of ETH burned on the mainnet has significantly decreased. Ethereum’s proof-of-stake mechanism traditionally burns a portion of transaction fees, reducing the total supply over time. However, the new data storage method seems to have disrupted this burning mechanism, leading to the current inflationary trend.

Understanding the Overall Supply

Despite the growing supply trend, it’s important to note that the total ETH supply has actually decreased significantly since the Merge. More than 1.5 billion ETH have been burned, with only 1.36 billion added. This means that there has been a net reduction of roughly 345,000 ETH (over $1.1 billion).

The long-term impact of EIP-4844 on Ethereum’s supply dynamics is unclear. However, it is likely that developers will implement adjustments to the burning mechanism in future upgrades to ensure a healthy balance between transaction fees and supply control.

[marytum]

Ethereum L2 Solution Eclipse Completes $50 Million Funding Round

Another player has entered the crowded Ethereum Layer 2 (L2) arena.

On March 11, 2024, Ethereum L2 solution Eclipse, which utilizes the Solana Virtual Machine (SVM), announced the completion of a $50 million Series A funding round, led by Placeholder and Hack VC, bringing its total funding to $65 million.

What innovative features and highlights does it bring to the Ethereum L2 landscape? Let's summarize.

Eclipse: Standing on the Shoulders of Giants Eclipse combines the best parts of modular stacks:

Settlement: Ethereum — Eclipse settles on Ethereum (i.e., the built-in verification bridge will be located on Ethereum) and uses ETH as its gas token.

Execution: Solana Virtual Machine (SVM) — Eclipse runs a high-performance SVM as its execution environment.

Data availability: Celestia — Eclipse publishes its data to Celestia for scalable data availability (DA).

Proof: RISC Zero — Eclipse utilizes RISC Zero for ZK fraud proofs (without intermediate state serialization).

Ethereum Settlement Eclipse's mainnet's verification bridge on Ethereum will be directly built into Eclipse. Eclipse nodes will use this bridge to determine the "canonical chain." The bridge enforces correct sequencing for Eclipse. Eclipse nodes must also run Ethereum full nodes. The bridge validates all Eclipse transactions, preventing invalid state submissions. Additionally, it can survive and resist censorship even in certain failure scenarios, such as if the sequencer fails or starts censoring on L2, users can force-in their transactions via the bridge.

Eclipse recognizes the importance of Ethereum-native assets, so Eclipse will use ETH as the gas token. Eclipse's mainnet has no plans to have its own token.

Eclipse Chooses Solana VM A virtual machine is software that can run programs. Specifically, a virtual machine executes blockchain smart contracts. Why did Eclipse choose to use Solana VM?

Performance: Ethereum and other EVM blockchains operate with only one program running at any given point, known as "single-threaded." Solana VM is a highly parallel runtime, capable of running multiple programs simultaneously if there are multiple cores, significantly improving throughput.

Security: Certain languages (such as Rust) can more easily prevent many errors that Solidity cannot prevent. For example, Ethereum smart contracts are susceptible to so-called reentrancy attacks.

Community: Popular blockchains like Ethereum and Solana have fostered vibrant developer communities around EVM and SVM, respectively. This means better tools and developer support compared to newer virtual machines like Move VM or Fuel VM.

Ease of use: Languages like Solidity are easier to write code in, and not all bytecode supports compilation from Solidity.

In summary, Eclipse's mainnet chooses to run on Solana Virtual Machine (SVM). However, it can also support programs built for Ethereum Virtual Machine (EVM) using Neon EVM. In the future, Eclipse plans to add other bytecode formats based on dApp requirements. Existing tools for EVM (such as Truffle or Remix) or SVM (such as Solana CLI or Seahorse Lang) can be used.

Eclipse Utilizes Celestia for DA

The current bandwidth of Ethereum does not support the target throughput and fees of the Eclipse mainnet. Even after EIP-4844 (also known as "Proto-danksharding"), which provides approximately 0.375 MB of blob space per block (with a limit of about 0.75 MB per block), the situation remains unchanged. For basic compressed ERC-20 transfers (approximately 154 bytes per transaction), this translates to about 213 transactions per second (TPS) for all rollups. For compressed swaps (approximately 400 bytes per transaction), this equals about 82 TPS for all rollups.

In contrast, Celestia is set to launch 2 MB blocks later this year. Once enough Data Availability Sampling (DAS) light nodes come online and the network stabilizes, Blobspace is expected to increase to 8 MB shortly after launch. DAS light nodes serve two crucial functions: enabling users to self-verify Eclipse block data availability and contributing to the secure scaling of the entire network. Celestia's DAS light nodes have supported encrypted economic security attributes and highly scalable DA throughput since day one, making it the clear choice for today's Eclipse mainnet. Eclipse also intends to monitor Ethereum's progress in DA scaling post-EIP-4844 and will evaluate the possibility of migrating to Ethereum DA if it benefits users.

Fraud proofs use RISC Zero. While the Eclipse mainnet deploys optimistic rollup, it is concurrently developing zero-knowledge rollup. For optimistic rollup, the sequencer orders transactions and publishes the generated state root with bounties to the Ethereum layer 1. Validators can re-execute transactions, and if there are disagreements, validators can challenge the state root through settlement. If validators are correct, rewards are granted. Eclipse utilizes RISC Zero to create ZK fraud proofs without the need for intermediate state serialization.

[tokenlivenews]

Bitcoin Surpasses Silver in Market Cap, Sets New All-Time High

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Bitcoin Surpasses Silver in Market Cap, Sets New All-Time High

Discover how Bitcoin has surpassed Silver in market cap and set a new all-time high, explore the advantages and implications of this milestone.

This week brought forth significant milestones in the realm of cryptocurrency, with Bitcoin leading the charge by reaching unprecedented heights.

Bitcoin‘s price soared to new all-time highs, surpassing Silver in market capitalization. This remarkable achievement underscores Bitcoin‘s growing dominance and its status as a formidable asset class.

Additionally, Bitcoin exchange-traded fund (ETF) products witnessed substantial net inflows amounting to $1.77 billion. This influx of capital reflects increasing investor confidence and interest in Bitcoin as a viable investment vehicle.

In Ethereum-related developments, the much-anticipated Dencun upgrade is slated to occur on March 13, 2024. This upgrade, named after the amalgamation of its components Deneb and Cancun, brings forth significant enhancements to Ethereum‘s network, including the introduction of ephemeral data blobs with EIP-4844, aimed at reducing transaction fees on Layer 2.

Moreover, noteworthy revelations emerged regarding Bitcoin holdings attributed to Tesla and SpaceX. Arkham Intelligence uncovered Tesla’s estimated holdings of 11.51K BTC and SpaceX’s holdings of 8.29K BTC, marking a significant disclosure in the cryptocurrency landscape.

In another notable event, MicroStrategy made headlines by acquiring approximately 12,000 BTC, amounting to a staggering $821.7 million investment. This strategic move further solidifies MicroStrategy’s commitment to Bitcoin as a long-term store of value.

Meanwhile, the Optimism Foundation conducted a private sale of 19.5 million $OP tokens, subject to a two-year lockup period. This sale, originating from the Unallocated section of the OP Token treasury, signifies a pivotal step in the Foundation’s operational endeavors.

Furthermore, Pantera Capital initiated efforts to raise funds for the acquisition of discounted $SOL tokens from the bankrupt FTX exchange. The Pantera Solana Fund aims to secure up to $250 million worth of $SOL tokens at a substantial discount, offering investors an opportunity to participate in this strategic venture.

Despite initial expectations for the fundraising round to conclude by the end of February, Pantera successfully secured a portion of the desired funds, signaling strong investor interest in the cryptocurrency market.

As Bitcoin continues its ascent to new heights and the cryptocurrency ecosystem evolves, these developments underscore the growing significance and potential of digital assets in the global financial landscape.