EOS EVM Mainnet Launch Improves Interoperability Between EOS and Ethereum

The EOS Network Foundation has launched the EOS EVM mainnet, which emulates Ethereum's Virtual Machine and aims to improve interoperability between EOS and Ethereum. This allows for the deployment of decentralized applications (DApps) written in Solidity, offering access to lower fees and faster transactions of the EOS network.

Timeline of Eos, Ethereum

Bitrue, a Singapore-based crypto exchange, has officially announced that it has been hit by a security breach, which allowed hackers to drain one of its hot wallets of $23 million in various crypto assets.

The price of Ethereum's native token, ether, is on a roll following the successful roll-out of the long-awaited Shapella hard fork on Wednesday. Ether recaptured the $2,100 mark on Friday — a level not seen since May 2022— and subsequently reduced Bitcoin's crypto market share.

Ethereum price analysis shows a strong bullish trend in the past few days as ETH has managed to move back toward a high of $2,074. The strong bullish momentum is expected to continue and take Ethereum up to reclaim its previous highs.

Lido Finance, a liquidity staking protocol supporting the various protocols, including Ethereum and Solana, remains as the most dominant decentralized finance (DeFi) application as of April 14.

The price of Ethereum has surged to an 11-month high despite the withdrawal of nearly 240,000 ETH. The withdrawals did not have any negative impact on the Ethereum price trend as the crypto asset is on a surge spree.

During his recent appearance on Laura Shin's "Unchained" podcast, Tim Beiko discussed the impact of Ethereum's Shapella upgrade on the network's decentralization and validator staking.

In the weekly time frame chart, the Ethereum price shows a bullish breakout from a famous chart pattern called the symmetrical triangle pattern. Under the influence of this pattern coin prices usually narrow within two converging trendlines and offer a significant direction rally upon the breakout of the trendlines.

Due to substantial post-Shapella supply increases, Ethereum's cryptocurrency, Ether (ETH), topped $2,100 for the first time since May 2022. On Wednesday, Ethereum programmers successfully delivered the “Shapella” version, which is a combination of the names of Ethereum's consensus (Shanghai) and execution (Capella) layers.

Crypto exchange Bitrue said the hackers picked off less than 5% of the value custodied in one of its hot wallets.The platform lost $23 million in cryptocurrencies like ETH, QNT, GALA, SHIB, HOT, and MATIC.Withdrawals are temporarily suspended until April 18 for security reasons and all affected users will receive full compensation, the crypto exchange said.  Major crypto exchange Bitrue suffered a “brief exploit” on one of its hot wallets, the digital asset trading venue shared in a tweet on Friday.

CryptoSlate's latest market report dives deep into on-chain metrics before and after the Shanghai upgrade to see whether it could be inconsequential or mark a turning point for the Ethereum network.