Crypto Market Downturn Cools Ethereum's On-Chain Activity, Data Shows

Enthusiasm in the crypto market died down when hit by the recent sustained market downturn, as clearly shown by Ethereum's (CRYPTO: ETH) on-chain fundamentals. What Happened: Ethereum is seeing significantly less use than it has on average over the last two years.

Timeline of Ethereum

An altcoin project built on Ethereum that has been relatively quiet for some time is in the middle of an explosive rally as it outperforms the rest of the crypto markets. Stratis Platform is an Ethereum-based, decentralized blockchain platform aimed at enabling Microsoft developers to build applications on top. The Stratis code is based on The post Ethereum Altcoin Project Rockets 160% Following Announcement of New NFT and Gaming Developments appeared first on The Daily Hodl.

What happened: On Monday a total of 3,779.50 Ether (CRYPTO: ETH) worth $4,495,824, based on the current value of Ethereum at time of publication ($1,189.53), was burned from Ethereum transactions. Burning is when a coin or token is sent to an unusable wallet to remove it from circulation.

A transition to a fully proof-of-stake (PoS) consensus mechanism, dubbed "the merge" by cryptocurrency enthusiasts, won't fix Ethereum's (CRYPTO: ETH) issues, according to CoinDesk citing a Morgan Stanley analyst report. What Happened: A switch to PoS will not address the network's scalability issues pertaining to its low transaction throughput and high transaction costs.

ETH has managed to remain above the $1,200 level on Tuesday, despite an increase in price uncertainty in crypto markets. BTC fell below $21,000 in today's session, as the global crypto market cap fell by as much as 2% earlier today. Bitcoin Following a marginally bearish start to the week, downward pressure intensified in today's

Ethereum (ETH) has recovered steadily after slumping below $1,000 earlier this month, as traders rushed in to accumulate the token at lower levels. ETH is trading at $1,225- up nearly 27% from a low of $897 touched earlier this month.

Harmony hackers started laundering the stolen ETH from the Horizon bridge and sent $36 million of the $100 million to a mixing service so let's read more today in our latest cryptocurrency news. The hackers responsible for stealing $100 million in altcoins from the Harmony Horizon bridge started laundering the funds according to PeckShield.

MThe Ethereum network is scheduled to undergo the Gray Glacier upgrade at a block height of 15,050,000 — expected to occur on June 30 at approximately 11:00 BST. The post What does the Gray Glacier upgrade mean for the Ethereum Merge?

Ethereum price analysis shows that more buyers are willing to consolidate their positions near $1,000 support zone. The hourly timeframes show low volumes but the price is not dropping below $1,100 despite repeated attempts by the bears.

A new report from Morgan Stanley has revealed that if Ethereum switches to a proof-of-stake (PoS) consensus as planned, it will do away with the need for miners, reducing the demand for graphics processing units (GPUs), and significantly lower energy needs. Ethereum Miners Could Find Alternatives, Says Morgan Stanley GPU usage may decrease if Ethereum

The hacked XCarnival protocol was recently hacked after an attacker used a flaw in the smart contracts which showed released NFT as available for collateral to be used for borrowing as we reproted in our latest cryptocurrency news. the hacked XCarnival platform described itself as a metaverse Asset Bank and lost over 3087 ETH to