Coin Bureau on Potential Effects of Ethereum's Move to Proof-of-Stake on $ETH Price

Earlier this week, the host of the popular crypto market commentary show Coin Bureau discussed the pros and cons of Ethereum's recently-completed Merge upgrade. As you probably already know, on September 15, Ethereum completed its Merge upgrade, marking its transition from proof-of-work (PoW) to proof-of-stake (PoS).

Timeline of Ethereum

Since the highly anticipated Merge event, Ethereum has performed poorly and was a turning point for the cryptocurrency sector. The Merge happened at the worst conceivable time, despite the expectation that it would increase investor confidence.

Ethereum's [ETH] circulating supply has dropped considerable since the much-awaited Merge. According to data from ultra sound money, the supply of the leading altcoin has increased by just 5,000 and an annualized inflation rate of 0.19% since 15 September.

The Ethereum hard fork token (ETHW) has been popular after playing off the popularity of the Ethereum Merge. The fork was carried out in a bid to keep Ethereum in its original proof of work mechanism, and the ETHW token resulted from it.

Earlier this week, the Securities and Exchange Commission (SEC) buried a very broad and very big jurisdiction claim 69 paragraphs down in a lawsuit about a 2018 initial coin offering (ICO) it claimed was an unregistered securities offering. The case involves an ICO for SPRK tokens issued by the Sparkster blockchain project.

Ethereum and the larger market continued to see red signals in terms of price after witnessing short-term gains. However, despite the cautionary tales and price headwinds, stakers and holders continued to build the post-Merge Ethereum castle.

Nounlets are a new collection out of the CC0 NFT project Nouns. There are only 100 Nounlets, each representing 1% ownership of one Nouns NFT.  The post The first Nounlet, a new collection out of NounsDAO, sold for 4.2 ETH appeared first on The Block.

Nounlets are a new collection from the Tessera. There are only 100 Nounlets, each representing 1% ownership of one Nouns NFT.  The post The first Nounlet just sold for 4.2 ETH appeared first on The Block.

At the end of last week, the White House followed up on its March executive order with the "First-Ever Comprehensive Framework for Responsible Development of Digital Assets."  It was a historic moment for the U.S. crypto community, which is finally beginning to receive some guidance from the Federal Government regarding digital assets.

Ethereum – the world's second largest digital currency by market cap and the number one competitor to bitcoin – allegedly experienced its turn from proof of work (PoW) to proof of stake (PoS) just over a week ago.

Over the last quarter, the underlying risks of CeFi have become evident to the global crypto community. While the accessibility, fixed interests, and cross-chain services of CeFi are unmatched by DeFi services, its lack of transparency and control is significantly concerning for the users.