Bitdao Reveals Modular Ethereum L2 Called Mantle, Public Testnet to Launch in 2023

On Wednesday, one of the world's largest decentralized autonomous organizations, Bitdao, announced the soft launch of a modular Ethereum layer two (L2) network called Mantle that claims to bolster lower fees and fast transactions. According to the Bitdao team, Mantle's public testnet is scheduled to release in 2023.

Timeline of Bitdao, Ethereum

On Tuesday (29 November 29), crypto analytics startup Santiment, which provides tools that make “powerful OnChain, Social & Financial analysis accessible to anyone”, commented on Ethereum's recent price action. Santiment based its prediction on the fact that on 28 November 2022 “Ethereum's active addresses surged to its highest level in over 6 weeks.

Macro expert and former Goldman Sachs executive Raoul Pal said Ethereum (CRYPTO: ETH) has outperformed every major asset gaining over 98,000% in the last five years. What Happened: Pal told his 991,000 followers on Twitter that “even with a 65% pullback”, ETH continues to be the best-performing asset.

The decentralized blockchain oracle network Chainlink (LINK/USD), which is built on top of Ethereum (ETH/USD) as a means of enabling the transfer of tamper-proof data from off-chain sources on on-chain smart contracts, will introduce staking. Chainlink's team made an announcement on November 30, 2022, that they will launch Chainlink Staking v0.1.

ETH's number of daily active addresses surged to a monthly high in the last three days. The transaction volume was relatively low which suggested the lack of a strong whale presence.

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Ethereum (CRYPTO: ETH) was trading over 4% higher on Wednesday heading into Fed Chair Jerome Powell's Brookings Institution speech. After Powell suggested the central bank could begin easing back on its interest rate hikes starting as early as next month, the S&P 500 jumped about 2% and Ethereum began to climb higher in unison, to trade up over 6% from Tuesday's 24-hour closing price.

Ethereum price analysis shows rising signs as the market shows massive upside potential. The bulls have regained their control of the Ethereum market, which will change the course of the market for the better, and ETH now expects the bullish period to take over in the next few days.

What happened: On Tuesday a total of 1,163.02 Ether (CRYPTO: ETH) worth $1,471,230, based on the current value of Ethereum at time of publication ($1,265.01), was burned from Ethereum transactions. Burning is when a coin or token is sent to an unusable wallet to remove it from circulation.

Phantom wallet recently announced that it was enabling functionality for assets on Ethereum and Polygon The wallet's multi-chain strategy would focus on NFTs Phantom, a Solana-focused cryptocurrency wallet, announced it would move to other chains on 29 November. This action followed the recent difficulties Solana had had following the demise of FTX.

Ethereum whales and sharks have been accumulating Ether (ETH) at a record rate since the FTX crash, Santiment reported on November 30. The post Ethereum accumulation trend hits new highs following FTX implosion appeared first on CryptoSlate.