Inventor of Ethereum's ERC-20 Token Standard Plans New Blockchain ‘LUKSO' for Creative Types

Fabian Vogelsteller is launching his new project, a layer 1 blockchain “LUKSO,” and validators will be able to join the network through the Genesis Validator Smart Contract Deposit.

Timeline of Erc20, Ethereum, Lukso

While Ethereum (ETH) has tread carefully amid the various sentiments about the crypto market, a large investor seems to be close to dumping its ETH holdings on the market. Earlier today, the on-chain analysis platform Lookonchain revealed some enormous transactions going on behind the scene of Ethereum.

Ether breaks $1,900 for the first time in over seven months, ahead of the Ethereum Shanghai hard fork that will allow stakers to withdraw their ETH. The recent price increase may be driven by expectations of the Federal Reserve easing its quantitative tightening efforts and increased demand for Ether due to more flexible staking options.

Ethereum has secured a multi-month high ahead of the Shanghai upgrade, rising close to 3% in the last 24 hours. Following a week-long bullish run, Ethereum's price has reached an eight-month high, hovering just below the $2,000 mark.

27 Ethereum projects have launched MEV Blocker, a solution to reduce maximally extractable value (MEV), or Ethereum's invisible tax. MEV Blocker is a free tool developed to counter MEV bots that hijack transactions and inflate prices for users.

ZkEVM (zero-knowledge Ethereum Virtual Machine) technology can potentially revolutionize Ethereum's scalability, and the competition among zkEVM projects tells a gripping story of innovation, rivalry, and aspiration.

Bitcoin (CRYPTO: BTC) moved higher, with the cryptocurrency prices trading above the key $28,500 level on Wednesday. Ethereum (CRYPTO: ETH) also moved higher, trading above the key $1,900 mark this morning.

An analyst known for correctly calling Bitcoin (BTC) bottoms believes Ethereum (ETH) is setting up for a massive explosion. Psuedonymous analyst Bluntz tells his 222,100 Twitter followers that Ethereum appears to be mirroring Bitcoin's market structure in early 2019, when BTC broke out from an ascending triangle pattern.

The Ethereum (ETH) ecosystem is experiencing a surge in momentum as the Shanghai Upgrade approaches, scheduled for April 12th. However, the rate of staking on the beacon chain has declined, with the amount of ETH locked at around 17.9 million by about 562k validators.

In the weekly time frame chart, the Ethereum coin price showcased a completion of a symmetrical triangle pattern. During March's third week, the coin price breached the pattern resistance trendline as a sign of trend reversal, followed by a consolidation phase which we witnessed in the last three weeks.

After bottoming out in June 2022 at about $880, the price of ETH has more than doubled. This, despite several unfavourable developments such as the demise of FTX, a rise in interest rates, and stricter U.S. regulations.