Frax Finance proposes rejection of any Ethereum proof of work fork

The proposal wants the Frax DAO to agree to make its frax stablecoin redeemable purely on the Ethereum 2.0 chain post-merge. The post Frax Finance proposes rejection of any Ethereum proof of work fork appeared first on The Block.

Timeline of Ethereum, Frax

The crypto market has been in turmoil since the start of 2022 and though the market has been able to retrace, the balances on the exchange platform are increasing. Among many such currencies, Ethereum is experiencing a surge in the exchange's supply count.

The upcoming Ethereum merge to change the consensus layer from proof-of-work to proof-of-stake is likely to be a critical factor in accelerating Ethereum's ascent to institutional-grade investment The post Ethereum Merge May Help Attract Institutional Adoption appeared first on BeInCrypto.

People have been feeling the heat of falling prices throughout 2022. Even after the recent rebound, exchange balances have been rising while the top non-exchange balance continues to decrease.

Aaron Schnarch, Vp of Product, Custody at Coinbase (NASDAQ:COIN), explains that Coinbase Prime provides institutions “with an end-to-end staking experience.” Clients can “create a wallet, decide how much to stake, and initiate staking from the ETH asset page on their Coinbase Prime account.

A major non-exchange Ethereum ($ETH) whale has accumulated several altcoins in a massive buying spree that saw it add to its positions on the cryptocurrency's blockchain and saw the value of their account rise by more than $400 million.

Market participants spent 963,227 ETH (approximately $2.7b) on NFT minting on the Ethereum blockchain during H1 (first half of a calendar year) of 2022. The volume of ETH raised circulating to non-entity wallets has decreased from the previously reported 52.3% (11 months ago) to the current 45.7%.

Following yesterday's increase, the market is experiencing a slight correction, and the majority of coins are trading in the red. After Bitcoin's (BTC) decline, Ethereum (ETH), has dropped 1 percent in the last day. Now, the $1,600 level needs to be closely watched.

Investors are probably not that convinced of Mark Zuckerbergs metaverse plans for Facebook, a sentiment reflected in the decline of the companys shares in the past six months. Now, even Ethereum founder Vitalik Buterin is predicting that the social media giants metaverse plans will likely fail.

Ethereum 2.0 is one of the most important developments the crypto money industry is looking forward to. Ethereum 2.0 will change the consensus mechanism from Proof of Work to Proof of Stake.

U.S.-based crypto exchange Coinbase Global Inc (NASDAQ: COIN) is expanding its Ethereum (CRYPTO: ETH) staking offering for domestic institutional clients. What Happened: In a blog post on Monday, Coinbase said that institutions can enjoy an end-to-end staking experience on Coinbase Prime.