Developer consensus supports Ethereum withdrawals in upcoming Shanghai upgrade

On September 20, CryptoSlate published an article on the upcoming Shanghai upgrade, stating Ethereum withdrawals would not likely be activated. The post Developer consensus supports Ethereum withdrawals in upcoming Shanghai upgrade appeared first on CryptoSlate.

Timeline of Ethereum

Ethereum (ETH), dubbed as the ‘leader of all altcoins' has long carried the burden and pressure of supplanting Bitcoin (BTC) as the king of all cryptocurrencies. To this date, it hasn't succeeded or has come close into completing that mission.

On September 15, the Ethereum network successfully completed its transition from proof-of-work (PoW) to proof-of-stake (PoS), a change that is expected to increase sustainability and reduce energy usage by 99.95%. However, contrary to popular expectations, the merger didn't have any effect on the Ethereum price; instead, the price plunged after the merger.

The ethereum (ETH) options market shows continued strong appetite for bullish bets on ETH among traders, despite falling spot prices. The question now is if this is a sign that smart money is positioning for a future rally, and if now is a good time to start dollar-cost averaging (DCA) into ETH.

The Merge has skewed demand-supply dynamics in favor of the bulls. But, the strengthening correlation with Nasdaq means big gains may remain elusive in case of broad based risk aversion.

Ethereum's volatility has been quite extreme and Ether's price increased steadily starting in the second month of the year. ETH rapidly increased beyond $1,800 prior to the Merge. The excitement surrounding Ethereum's switch from PoW to PoS may have helped the rise to some extent.

Ethereum (ETH) co-founder Vitalik Buterin always seems to be looking a step into the future – or three. While layer 2 (L2) is currently still developing, Buterin contributed to the layer 3 (L3) discussion, arguing that these could serve a different purpose(s), leaving scalability to L2s.

Asset manager 21Shares has launched two new product lines aimed specifically at the bear market to give investors more options during the downturn. The post 21Shares launches Ethereum exchange-traded product tailored to the bear market: Exclusive appeared first on The Block.

Ethereum developer Alex Stokes on Wednesday said the EIP-4895 has been updated in preparation for deployment in the next planned Ethereum Shanghai upgrade. The update supports validator withdrawals from the Beacon Chain to the EVM through a new “system-level” operation.

Whale addresses are moving nearly $300 million worth of Ethereum (ETH) and XRP in just 24 hours this week, according to data from crypto transaction-tracking platform Whale Alert. In one of the largest transactions, Whale Alert reports that an unknown wallet transferred 38,781 Ethereum worth more than $52 million to another unknown wallet on Monday.

Scalability trilemma implies that to scale, blockchains usually need to sacrifice one of their three fundamental cornerstones — security or decentralization, or transaction throughput.