Celo announces transition to layer-2 network on Ethereum

C Labs, the development team behind the Celo blockchain, has unveiled a proposal to transition from being an independent layer-1 blockchain to a layer-2 solution on Ethereum. The decision was announced on Twitter, following extensive research and discussions with members of both communities.

Timeline of Celo, Ethereum

ETH locked in the ETH 2.0 deposit contract reaches a new peak of 25,937,766 ETH Despite some validators withdrawing, many continue to deposit or increase their ETH holdings The number of nonzero wallets for ETH hits an all-time high of 102,913,926,

As Ethereum (ETH) moves to consolidate the gains from previous days and weeks, the second-largest cryptocurrency by market capitalization might be in for a further decline before bullish continuation, giving interested investors an opportunity to accumulate it in time.

Ethereum Price Analysis: For nearly a month the Ethereum price has shown a silent recovery under the influence of a broadening channel pattern. Despite the recent volatility in the crypto market the ETH price has strictly resonated within the diverging trendlines of this pattern, accentuating the significant influence of this setup.

At the Ethereum Community Conference (EthCC) in Paris, Ethereum co-founder Vitalik Buterin gave an insightful presentation on the history and evolution of “account abstraction” on the Ethereum blockchain. Account abstraction is a feature in Ethereum that aims to make the system more flexible and easier to use.

Despite tens of billions raised and lost in the name of disruptive crypto innovations, the alternative technology has yet to produce a breakthrough product, even in video gaming. Mysten Labs' CEO says that's because nobody's done it right yet.

While most crypto market watchers remain focused on Bitcoin's ongoing struggle with $31,000, Ethereum recently closed above the psychologically important $2000 level for the first time in weeks. Now poised to close lower for four straight days, let's take an evidence-based approach and determine whether four consecutive days lower for Ether is historically bullish or bearish going forward.

Ethena, a blockchain startup for Ethereum-backed stablecoins, has reportedly secured $6 million in a seed funding round. Axios reported on Monday that the startup's funding round was led by Dragonfly Capital, a leading Web3 venture firm. Other prominent investors to back Ethena in the round were crypto platforms Deribit, Bybit, Gemini, OKX, and Huobi.

The development team behind the independent Celo blockchain says benefits could accrue from transitioning to the Ethereum ecosystem, in terms of greater liquidity, improved security and more compatibility.

Ethena, a crypto start-up, has achieved a significant milestone by securing an impressive $6 million in seed funding, according to a report from Axios. The funding round, led by prominent investment firm Dragonfly, demonstrates growing interest in Ethena's cutting-edge stablecoin project.

Unstoppable Domains, a digital identity platform, is expanding its Web3 offerings by introducing support for Ethereum Name Service (ENS) domain endings. This move will allow holders to establish their digital identity on the Ethereum (CRYPTO: ETH) blockchain using .eth domain endings, Coindesk reported.