Why Does Yuga Labs Want To Launch Its Own ‘Ethereum Killer'?

The recent Yuga Labs NFT launch on the Ethereum blockchain has crippled the network after demand surpassed all expectations. In total, more than $500 million had been raised in a matter of 24 hours.

Timeline of Ethereum

The price of ethereum (ETH) might reach a new all-time high of USD 6,872 in 2022 before correcting to USD 5,783 by the end of the year, according to a once again less optimistic average estimate by a panel of fintech & crypto industry players. 

Ethereum price analysis is bearish today as we have seen another clear lower high set and rejection for further upside at the $2,850 resistance. Therefore, ETH/USD is likely ready to drop even lower and break past the previous low later this week.

10% of Ethereum's supply is locked in Consensys layer deposit contracts which allow for ETH to be moved from the ETH magnet to the Beacon Chain so let's read more today in our latest Ethereum news. Ethereum's consensus layer deposit contract contains over 12 million ETh and over 10% of Ethereum's supply.

Ethereum's burning protocol has hit a new all-time high (ATH) after the huge sale of tokenized land plots in Yuga Lab's Otherside Metaverse project. According to WatchTheBurn, today's Ethereum burn rate has exceeded 69,000 ETH accounting for a total ETH issuance of 61,600. This is the new single-day historical record high since EIP-1559 came into …

ETH recovered but it still has to clear major key resistance at $2850 to continue higher in the near term so let's have a closer look at today's latest Ethereum news. ETH recovered after the $2800 level in a new recovery wave with the price consolidating above $2820 and the 100 hourly simple moving average.

Ethereum's scalability woes come under the spotlight once more following the release of the latest Bored Ape Yacht Club NFT collection. The post Ethereum user spends $44,000 in gas fees to mint Bored Ape ‘Otherside' NFTs appeared first on CryptoSlate.

Crypto insights firm Santiment says that deep-pocketed Ethereum investors have started aggressively accumulating ETH after four months of inactivity. The market intelligence firm says that whales holding between 1,000 and 10,000 Ethereum have suddenly added a combined 142,000 ETH, worth about $407,415,040 at time of writing. The accumulation spike comes after a nearly four-month-long stagnation The post Ethereum Whales Have Accumulated $407,415,040 in ETH in Just 10 Days: Analytics Firm Santiment appeared first on The Daily Hodl.

The revenues accrued by the Ethereum network rose by 46% from $1.6 billion to $2.4 billion during the first quarter of 2022. Contributing to the growth in the network's revenues were non-fungible token (NFT) marketplace sales, which rose by more than 19,000% during the period under review. ETH Inflation Rate Drops to 0.51% Ethereum's revenues

There were many disgruntled Ethereum users over the weekend following a Yuga Labs nonfungible token (NFT) launch which caused gas prices to surge to new highs. The post Ethereum Gas Fees Spike to New Highs on Latest NFT Hype appeared first on BeInCrypto.

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. Ethereum (ETH) left its short-term investors fairly dissatisfied after failing to uphold the marks of its Point of Control (POC, red) at $3,000.