What Are Chances of Cosmos (ATOM) Being Standout Ethereum Killer?

Cosmos (ATOM), one of the cryptocurrencies dubbed an “Ethereum killer,” was created to address the issues of slowness, high transfer rates, and environmentally hazardous blockchains. Furthermore, cryptocurrency aims to reduce the complexity and difficulty of blockchain technology for developers.

Timeline of Cosmos, Ethereum

Quick Take Ethereum continues to be the largest DeFi ecosystem by far, and has consequently endured significant impacts from the collapse of FTX and Alameda The decrease in liquidity across a large majority of DeFi protocols has been palpable, with some of the withdrawals appearing to have been performed by Alameda directly Meanwhile, both staked ETH and liquid-staked ETH continue to rise as new estimates emerge for the upcoming Ethereum Shanghai upgrade in 2023, which would unlock the ability for validators to withdraw their staked ETH

Ethereum core developers revealed on a call on December 8 that the network's next, highly-anticipated hard fork, Shanghai, allowing users to withdraw staked ETH, might go live as early as March next year.

According to a recent Ethereum Core development meeting on Dec. 8, developers disclosed that the next Ethereum hard fork, called Shanghai, could be implemented by March 2023. It's been suggested that the Shanghai hard fork will be able to manage the network's staked ethereum withdrawals.

What happened: On Thursday a total of 2,317.77 Ether (CRYPTO: ETH) worth $2,955,807, based on the current value of Ethereum at time of publication ($1,275.28), was burned from Ethereum transactions. Burning is when a coin or token is sent to an unusable wallet to remove it from circulation.

Ethereum (ETH) Price Prediction News: While Ethereum (ETH) price continues to hover around the $1,300 level, key in chain indicators are increasingly showing a bullish pattern in coming weeks. It is close to three months now since the Ethereum Merge has been executed in September 2022.

Ethereum's price is currently facing crucial resistance, and the current focus is to surpass it. A successful breakout from this level could potentially result in bullish momentum in the near term.

Ethereum (ETH) has failed to rise above key resistance at $1,300 despite rising around 4% over the past 24 hours. At press time, the second largest cryptocurrency by market cap was trading at $1,289.

Ethereum core developers have agreed on a tentative deadline for the blockchain network's next upgrade dubbed Shanghai. It's the latest in Ethereum news after the success of the Merge in September, and coincided with a bump in the price of ether.

Ethereum (ETH) developers will prioritize the withdrawal of staked ETH in the Shanghai upgrade scheduled to hold as early as March 2023. The post Ethereum up 4% after staked ETH withdrawal revelation appeared first on CryptoSlate.

Cryptocurrency Price Today 9 Dec: Crypto prices are showing recovery with the top coins showing a jump in the last 24 hours. The FTX debacle seems to be settling down, however, the market is still bearish.