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Post-upgrade review: what’s next for Ethereum?Ethereum’s network keeps evolving When the ethereum network enabled withdrawal of staked Ether (ETH) and related rewards on 12 April 2023, several upgrades were made into the blockchain. Many investors wonder why the ‘Shanghai upgrade’ was rebranded as ‘Shapella upgrade’. This was due to the fact that software upgrades were made both on the execution layer of the blockchain (the Shanghai upgrade) and on the consensus layer of the blockchain (Capella upgrade). The execution layer is an environment where applications and smart contracts reside and where transactions within and between applications are processed. The consensus layer, on the other hand, is a place where the network rules are enforced. This layer became active with the introduction of Proof-of-Stake (PoS) consensus mechanism. The combination of these upgrades is called ‘Shapella’. It is typical for the Ethereum network that it keeps evolving and improving. In fact, Ethereum’s inventor, Vitalik Buterin, has stated that after the completion of the Merge, the network is only 50% complete. Staking yield varies On 30 May 2023, Ethereum’s annual staking yield was estimated at 5.6%1. The estimated yield varies depending on the amount of validators, the amount of transactions, whether maximum extractable value (MEV) technology is used, and how ETH is staked: via solo home staking, staking-as-a-service, via liquid staking pools or via centralised exchanges. The number of validators has increased to a total of almost 593,000 validators2. One could assume that when the validator number increases, the annual percentage yield (APY) might go down, but transaction fees and MEV technology, on the other hand, might increase the yield. MEV is about prioritising the transactions and outsourcing the block production to third parties to maximise the yield. As more use cases are being developed, and more ETH is being used, the transaction portion of the yield might increase. Number of validators keeps increasing, making the network more secure The more validators there are the more secure the network is, although there comes a point when additional validators no longer add value in terms of security but add to the cost of securing the network. In fact, Ethereum developers are planning to cap the number of validators to make sure they do not overpay for economic security and to have plenty of new ETH for staking and for collateral purposes behind decentralised stablecoins. It also appears necessary to restrict the growth of validators as some future upgrades on Ethereum, such as single slot finality, require every validator to respond in seconds. To have a million validators might make this process technically challenging3. The largest individual new validators since the unstaking event come from liquid staking providers Lido Finance (19%) and Rocketpool (4%) and centralised exchange provider Coinbase (7%). Over 50% of new validators are unidentified4. Validators wanting a full exit has dropped significantly After withdrawal of staked ETH and related rewards were allowed, the Ethereum network limited the number of full validator exits to maintain the stability and security of the network. The number of full exits was limited to seven validators per epoch, which is 6.4 minutes, meaning that a maximum of 1,575 validators could exit the network per day5. Although there was an initial flurry of exits, on 30 May 2023, just 53,028 ETH or approximately $101 million of ETH was waiting for a full exit. This number is down 6x from early May when over 350,681 ETH was waiting for a full exit from the network. The number of validators that have exited fully so far is approximately 10% and, at the moment, the number of validators waiting for a full exit is just 1,642, down from 10,920 validators in early May6. A big part of exited validators come from Kraken, and was expected, as Kraken has settled a lawsuit with the Securities and Exchange Commission in the US and promised to stop offering its staking-as-a-service product to US customers. Other large exits have come from Binance, Coinbase, and Huobi7. It also looks as though 50% of ETH waiting for withdrawal has come from Kraken8. The feared downside price pressure on ETH did not materialise and, in fact, the price of ETH has not changed much since unstaking. The price is flat since 12 April 2023, although the price has varied somewhat during this time period. ETH, however, has had a meaningful run since the beginning of 2023, and is up by more than 50% this year9. Increasing amount of staked ETH shows the attraction of staking yield for investors Since the Merge in September of last year, the amount of ETH staked has increased by 60% to a total of over 21.6 million from 13.5 million of ETH staked last September. This number includes the ETH rewards10 and is close to 16% of the total ETH in circulation. The number of validators has increased as well by 40% since the Merge last September to 593,000 from 420,000. We expect the staking ratio to increase further and to at least double in the next year or so. Increased amount of staking activity and the increasing number of validators are positive signs for the Ethereum network and show that staking yield is part of the attraction for investing in Ethereum. Slow transaction processing and high costs remain to be resolved The Shapella upgrade does not solve the problem of network congestion or high gas/transaction fees, which became a problem during the last bull market of 2021-2022. Several other layer 1 networks, such as Solana, were actively developed and promoted during this time, because Ethereum’s gas fees rose to exceedingly high levels during high demand periods. For the moment, the network’s ability to handle transactions remains limited to 15-30 transactions per second. Up until recently, to address the capacity limitation problem, the Ethereum developers have talked about implementing sharding later this year. Sharding is a term whereby the network is split into smaller ‘shards’ to increase capacity. What seems to have taken precedence recently, instead, is to work together with layer 2 networks and to increase the Ethereum’s network capacity via Proto-Danksharding. Short-term scalability is expected to be achieved via Proto-Danksharding Proto-Danksharding is a way to address the scalability problem on the Ethereum blockchain. It uses layer 2 rollups (optimistic rollups, zero-knowledge rollups) to move transactions off-chain, bundle them up, and verify them back as a single transaction on the Ethereum’s layer 1 blockchain. If there is a problem with a transaction, this transaction can be reconstructured on Ethereum’s layer 1 network. This need to post the transaction data back to the layer 1 network is expensive because data is posted on all Ethereum nodes and is expected to live on the chain forever. Proto-Danksharding aims to solve this problem by attaching data ‘blobs’ into the network temporarily. Blobs would be large portable bundles that could contain cheap transaction data. These blobs would not be accessible to Ethereum Virtual Machine’s (EVM) environment and would be automatically deleted after a fixed time period. This would enable layer 2 rollups to send transaction data back to layer 1 much more cheaply and pass these savings on to users resulting in cheaper transactions. Sources 1 Source: Ethereum 2 Source: Ethereum 3 Source: Tim Beiko & Justin Drake, Ethereum Foundation, April 2023. 4 Source: Nansen 5 Source: Ethereum 6 Source: Nansen 7 Source: Rated Network Explorer. 8 Source: Nansen 9 Source: Nansen 10 Source: Nansen
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by aneekaguptaWTE
DOTBTC 2023 outlook Polkadot price actionTime to look at my favourite altcoin and it's pretty dismal perfomance over the last year agaisnt BTC I've outlined my basic outlook on the weekly chart using candle stick closes and Log fibs. Coincidentally its touched the .886 retrace to the T. Typical sign of weak altcoins to retrace all the way back to the .886 level. I'm pretty confident the bottom for DOT/BTC is in based on this and the fact that its nearly an 80% correction from ATH vs BTC My mid term outlook is bullish (for a change) Looking at best case scenario retrace up to .618 from ATH placing it at the .0004830 sat region I've marked out 3 different TP below and above this level respectively as I've become accustomed to DOT usually underperforming against market competitors. So my TP is more conservative vs others. With the exception of TP3 being higher as I see this as an ATH for this market cycle Some thoughts on DOT Personally this is my favourite altcoin of them all. Admittedly one should not have emotion when it comes to trading as we're all here to make money and not love My bias is fundamentally based and I will probably always keep staking my DOT from my ledger for years to come Point 1 - Its not a security, this gives institutional interest and clarity on adding it to their basket or portfolio Point 2 - Highest DEV activity compared to other L1 : Link : www.thecoinrepublic.com Point 3 - Interoperability (future proof) Point 4 - Staking offline (my personal favourite) Point 5 - Gavin Wood (some food for thought for the ETH maxi's) There are more use cases to be made however one can only consider an argument valid if you can argue from both ends, So my concern for this project is as follows: Point 1 - Concensus mechanism too slow. One of my dear friends informed me they wanted to launch TAO on their parachain but it was too slow for their timeline, in turn they self funded the crowdloan Point 2 - Inflation. As great as APR is with Staking this shows inflation in the ecosystem and given that DOT has no FINITE market cap it can dampen price action in future I'll be adding my DOT/USDT analysis to this post and updating it over time. As this is afterall my favourite ))
Long
by Andy1GP
1
Ethereum Price Outlook - Feb 15th 2023Given the recent price action of Ethereum and the markets, it seemed reasonable to check out how the asset's been doing lately - especially since the price of $ETH is rubbing against a long-term overhead horizontal resistance. Ethereum on the Daily Resolution In the chart above, we can see the price recently testing the EMA-50 (successfully) before heading directly up to re-test the overhead horizontal resistance at $1660 or so. In just under a month, the price of Ethereum has bumped against this overhead horizontal resistance four times. Momentum Indicator Overlays Support an Entry on the Daily If we look at our various custom coded momentum indicators (which are overlaid on top of the price chart itself), we can see that they're near unanimous in signaling 'entry'. Librehash Reversion Ribbon V2 What we're going to see below should spark some intrigue for readers. As one can see above, the Librehash Reversion Ribbon V2: 1.) Has re-colored all of the candles red. 2.) The ribbon is showing a recent convergence of the ribbon (from 'red' to what should eventually be 'green' when the ribbon changes colors once it faster moving average crosses back over the slower one ). In laymen's terms, this exemplifies a major shift in sentiment for this asset (Ethereum). 3.) The color of the ribbon itself shifted from dark red to lighter red. This shift occurred on February 10th, 2023 (less than 5 days ago before we saw this shift in sentiment reflected in the price). 4.) The ribbon dipped just below the histogram, but it appears to be curving back upward, currently in a trajectory to cross back above the histogram (zero line). Balance of Power RSI This is a custom momentum indicator that we've created for the purpose of tracking the underlying buy/sell pressure for a given asset. The biggest benefit conferred by this indicator is its ability to track underlying shifts in buying/selling activity well before other indicators can (like the RSI(14)). In the photo above, we can see that the inflection point for this indicator was on February 13th, 2023. In this case, the indicator was not premature in its signal as it aligned with the pivot in price action that occurred on that same day as well. Balance of Power RSI on the Weekly Resolution While the Balance of Power RSI on the daily resolution isn't too insightful, the weekly resolution provides us with a great look at an underlying shift from bullish exuberance to gradually increased bearish price action (selling). Upon closer look we can see the shift in the Balance of Power RSI's trend (overall direction; think 'line of best fit'). Closer observation reveals that the 'second high' (localized) is lower than the first one. Let's look at the other momentum indicators vs. the Balance of Power RSI over the same timeframe. Librehash RSI(14) Cryptomedication Volatility RSI Which One Do We Trust? As we can see from the charts above, the Balance of Power RSI strongly contradicts the Librehash RSI & Cryptomedication Volatility RSI. In this case, we're going to place more weight on the Balance of Power RSI than the latter two indicators due to the fact that its specifically designed to track underlying changes in sentiments well ahead of other indicators. Conclusion We're going to abstain from entering into a position on Ethereum here. It is likely that the price will continue to increase in the short term, but we can't see enough upside over the medium term to justify entry into a 'long' position at the time of writing. We're also not going to be crazy enough to advocate for a short since the prevailing market sentiment seems to be overwhelmingly bullish at this point (compared to where it was toward the beginning to mid-Fall 2022).
INDEX:ETHUSD
by librechain
$TYRANT Fable Of The Dragon 👑🐉💫💖🕊️ The live Fable Of The Dragon price today is $0.468304 USD with a 24-hour trading volume of $1,125,701 USD. We update our TYRANT to USD price in real-time. Fable Of The Dragon is down 16.77% in the last 24 hours. The current CoinMarketCap ranking is #2695, with a live market cap of not available. The circulating supply is not available and a max. supply of 10,000,000 TYRANT coins. $TYRANT is a 0% Tax token is based on Vitalik's Twitter profile description linking to an animated 12-minute Tyrant Dragon Fable film. Our mission is to help fuel anti-aging research around the world through special programs, donations and community.
Long
by BADQOMOCAWGOWLD
3
$SHIBUSDT Going to the Moon!What is Shiba Inu (SHIB)? Shiba Inu (SHIB) is a meme token which began as a fun currency and has now transformed into a decentralized ecosystem. During the initial launch, 50% of the supply was allocated into Vitalik Buterin's ethereum wallet. The price of SHIB has soared from as low as $0.000000000056 to an all time high of $0.000084, that is a 150,000 times increase within 8 months. As a result of that, Vitalik proceeded to donate 10% of his SHIB holdings to a COVID-19 relief effort in India and the remaining 40% is burnt forever. That donation was worth about $1 billion at that time, which makes it one of the largest donation ever in the world.
Long
by BADQOMOCAWGOWLD
#ETH starting to look like a bullish scenario could be unfolding#ETH So we broke down on the most recent trend line, there was a pretty big divergence - technically we are looking like a longer term retest here. This is looking pretty bullish to set up a buy around $1370 tbh - naturally there is some big things going on in the market that could cause a much bigger drop, although stagger some entries I feel from about that region. The volume profile is showing not much demand between 1479 to 1364 which is making me feel it will sink to about that price region before seeing true support
Long
by Kryptochristian
3
$ETH will dropJust my opinion but from what I see, the price of ETH will drop in the next few days, let's remember that we are less than three days away from the eth merge; from what I see in many posts, this is something that has people in uncertainty about the price, some saying that the price will go up like foam, and some saying that the price will fall like a snowball, the reality is that nobody can know exactly where the price will move, but at least today I see a double top pattern (see 1hr chart), SSL Channel with a downtrend and MA21 crossing above the candlesticks. This is something very normal after a rise like the one we saw days ago, market rises like this don't continue their course, only the rises with fundamentals behind them are the ones that are maintained, we will see what the merge holds for the price of ETH.
BITSTAMP:ETHUSD
by icheeetah
Looking at the macro for ETH (Bearish ascending wedge) Looking at ETH on the Line-Chart set to weekly, we can see a familiar pattern similar to the BTC wedge I've posted previously: ETH has 3 choices at this current moment: - Unexpected wave of bullish momentum propels it to the upside breaking the upper TL sparking a parabolic rally - Slow depreciation in value to the lower support TL before rallying again - Major selloff sparking a breakdown & freefall Will update when direction has been decided. INDEX:ETHUSD COINBASE:ETHUSD BINANCE:ETHUSD BINANCE:ETHBTC COINBASE:ETHBTC INDEX:BTCUSD BITSTAMP:BTCUSD COINBASE:BTCUSD BINANCE:BTCUSD BINANCE:BTCUSDT COINBASE:BTCUSDT
INDEX:ETHUSD
by RandomOracle
5
$QOMUSDT Shiba Predator0xa71d0588EAf47f12B13cF8eC750430d21DF04974 SHIBA FLIPPED DOGE NOW WE FLIP SHIBA You are the Team Yes, we are all QOM and we are all the team. For this to work, “a thousand flowers must blossom” and we all must do our part Just like Shiba, there are no team tokens If you want to do something then do it, if someone asks for a hand out you can tell them that Shiba never paid for a thing. Trust The Process Flipping Shiba will take Diamond Hands. Don’t be short-sighted with QOM, there is a long road ahead of us. HODL Ask not what QOM can do for you, ask what you can do for QOM QOM started this with a contract deploy and a group, but it is really up to you (QOM also) to see what you can add. Work for you meal, add what you can and tell your frens. This is an army. It is new and small, but that also means we have advantage.
QLong
by BADQOMOCAWGOWLD
$ETHUSDT Next Target PT 8k and higherKey Takeaway: Previously, if a customer uses a Crypto.com Visa card to pay for anything, their digital currency held in a cryptocurrency wallet had to be converted to a fiat currency. The cryptocurrency wallet deposited traditional fiat currency into a bank account set to be wired to Visa at the end of the day to settle transactions. Visa's move meant that it now uses the Ethereum blockchain to strip out the need to convert digital currency into traditional money for the transaction to be settled. The firm partnered with digital asset bank Anchorage to oversee the first payment, with Crypto.com sending USD Coin directly to Visa’s Ethereum address at Anchorage. Ethereum is a global, open-source platform for decentralized applications. In other words, the vision is to create a world computer that anyone can build applications in a decentralized manner; while all states and data are distributed and publicly accessible. Ethereum supports smart contracts in which developers can write code in order to program digital value. Examples of decentralized apps (dapps) that are built on Ethereum includes token, non-fungible tokens, decentralized finance apps, lending protocol, decentralized exchanges, and much more.
Long
by BADQOMOCAWGOWLD
4
$KISHUUSDT Kishu Inu$KISHU.X Kishu Inu Target PTs 0.00000001706832-0.0000000320031 and higher (PT 0.00033422864193 if it goes Parabolic) Timeline: Fall 2022-Summer 2023 Returns 32-60X (626,618X if it goes Parabolic) Dark Pool buy on 7/26/2021 at BSP RAW Buy Pressure 500 Where can Kishu Inu be traded? You can trade Kishu Inu on Gate.io, OKX, and Uniswap (v2). Popular trading pairs for Kishu Inu in the market includes KISHU/USD, KISHU/CAD, KISHU/EUR, KISHU/PHP, KISHU/INR, and KISHU/IDR. "KISHU INU was created in April 2021 with the goal of being a decentralized meme project with true purpose. KISHU’s mission is to bring popular cryptocurrency concepts to the mainstream. Unlike older, comparable projects, KISHU introduces holders to next-gen concepts such as participation rewards, NFTs, decentralized exchanges, and more. Within the first month of its launch, KISHU made history by surpassing a $2 billion market cap and over 100,000 holders. This was an unprecedented milestone for a project of its kind, and proved the world’s belief in the project."
KLong
by BADQOMOCAWGOWLD
1