Ethereum CEO Discusses Scalability Sollution For Ethereum Network

Ethereum founder and CEO Vitalik Buterin in a recent letter proposed the plan of using the ZK-SNark feature to improve the Ethereum network's scalability. In a letter, he also mentioned Balaji Srinivasan, the former CTO of Coinbase, Kraken, and Binance, for discussion.

Timeline of Ethereum

Crypto analytics firm Santiment claims that Ethereum (ETH) whales haven't been deterred by the market's bearish price action. Santiment notes that whale and “shark” addresses holding between 100 and 100,000 ETH have increased their holdings by 3.5% in the past 12 days.

The FTX drainer wallet linked to a possible hack of the now-bankrupt crypto exchange continues to swap more tokens for ether. The post FTX drainer consolidates ether holdings to reach $302 million appeared first on The Block.

Recently, at COP27, one of the world's largest gatherings on climate action, a group of Web3 companies convened by ConsenSys and Allinfra, joined civil society leaders and the UNFCCC Climate Innovation Hub, “to announce the creation of the Ethereum Climate Platform (ECP).

Following the bankruptcy of crypto exchange FTX, this statement comes at the wrong time for Solana, which was among the top 5 largest cryptocurrencies by market size only weeks ago. With a 25.

Tether, the issuer of the USDT stablecoin, said it was conducting a chain swap to move 1 billion USDT from Solana to Ethereum. The post Tether says it's moving 1 billion USDT from Solana to Ethereum appeared first on The Block.

What happened: On Thursday a total of 1,604.83 Ether (CRYPTO: ETH) worth $1,935,372, based on the current value of Ethereum at time of publication ($1,205.97), was burned from Ethereum transactions. Burning is when a coin or token is sent to an unusable wallet to remove it from circulation.

Ethereum's resilience has been one of the significant talking points during the recent market crash as opposed to Bitcoin, ETH's price has not created a new lower low. However, more downside could be expected if the price fails to break a key resistance level.

Everything is dropping in the wake of FTX's bankruptcy but Solana's plunge has been extreme. The crypto market is suffering deep losses following the dramatic collapse of the FTX exchange.

Ethereum (ETH) is barely moving as it sinks near current support. Ether has been stuck between levels of $1,070 and $1,350 since November 9. Sellers have failed to exert more selling pressure below current support after the initial breakdown on November 9.

The ethereum price has risen to $1,216.65, marking a 12% increase from lows recorded on Thursday, when the FTX collapse caused a major market selloff. Its current price also represents 2% rise in the past 24 hours, although the second-biggest cryptocurrency has fallen by 20% in the last 14 days, as its ongoing upgrades struggle to counteract ongoing pessimism.