Ethereum advocates are bubbling with anticipation over the upcoming London hard fork, which is scheduled to take place at block height 12,965,000 on Thursday. Data from Cointelegraph Markets Pro and TradingView shows that the price of Ether (ETH) rallied from a low at $2,450 in the early hours on Wednesday to an intraday high at $2,772 for an 8.2% gain on the day. One of the most common occurrences in the crypto market is a large price run-up ahead of a major news announcement or protocol upgrade, which is subsequently followed by a price dump, as those who got in …
Mainstream adoption of cryptocurrency continues to reach new highs in 2021 thanks to the growth of popular sectors like decentralized finance (DeFi) and nonfungible tokens (NFTs). The explosive growth seen over the past year would not have been possible without the Ethereum network, which saw the price of Ether (ETH) break out to a new all-time high on April 27 following the successful launch of the "Berlin" upgrade on April 15. Data from Cointelegraph Markets and TradingView shows that the price of Ether has rallied 27% over the past five days from a low of $2,107 on April 25 to …
Floyx, a Malta-based social media platform for the crypto community, is trying to prevent crypto impersonation scams by developing a novel system. Floyx CEO Kamil Kępiński explained to Cointelegraph that the platform can prevent malicious actors from impersonating firms and projects with a novel account system. As Cointelegraph reported on multiple occasions, scammers commonly try to trick people out of their crypto assets by pretending to be major firms and celebrities. In July 2018, billionaire entrepreneur and engineer Elon Musk himself said that he is impressed by the scam accounts: “I want to know who is running the Ethereum scambots! …
The excitement around Ethereum’s (ETH) upcoming upgrade, The Merge, which involves the merger of two blockchains — Mainnet Ethereum and Beacon Chain — has unknowingly spurred rumors across the community. Termed the most significant upgrade in the history of Ethereum, The Merge does indeed mark the end of proof-of-work (PoW) for the Ethereum blockchain. However, here are five misconceptions that stand out among the rest. Misconception 1: Ethereum gas fees will reduce after The Merge Ethereum’s impending upgrade will reduce Ethereum’s infamous gas fees (transaction fees) is one of the biggest misconceptions circulating among investors. While reduced gas fees tops …
While Ethereum devs promised no downtime during The Merge, one of the most anticipated Ethereum upgrades, members of the crypto community decided to take proactive measures to ensure the safety of investor funds. In this effort, crypto exchange FTX announced to halt all Ether (ETH) trades on various blockchains until the September upgrade concludes. The Merge upgrade will permanently transition the Ethereum blockchain from proof-of-work (PoW) to a proof-of-stake (PoS) consensus mechanism — aimed at reducing energy consumption and introducing sharding capabilities. According to Ethereum developers, the Merge is designed to transition to PoS with zero downtime owing to the …