Ethereum

The sugar high of the Ethereum merge on Thursday led into a dour weekend of red for both the newly miner-free ETH and top crypto Bitcoin.

But a lot hinges on the next move announced by the U.S. [first "replay attack"](https://blocksecteam.medium.com/reveal-the-message-replay-attacks-on-ethereumpow-64e4feee991c) targeting the Ethereum and the recently hardforked EthereumPoW blockchains. Bitcoin's total market cap was back below $375 billion on Sunday, a threshold last breached on Sept. As for Bitcoin, its total market cap was headed back toward its six-week low of $18,661 on Sept. The declines echo a similarly down previous week in which Bitcoin, meanwhile, fell to $19,414 on Friday, and saw a brief rally take it above $20,000 on Saturday.

The merge will not significantly improve speed or gas fees for users, but future upgrades will target overall network improvement.

[CryptoJobsNow](https://jobs.bsc.news/)! [Ethereum Community Conference](https://bsc.news/post/vitalik-buterin-announces-roadmap-for-ethereum-after-the-merge) in July, Vitalik Buterin outlined the post-merge roadmap for Ethereum. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release. This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Blockchains like Bitcoin and Ethereum that use a Proof-of-Work model have faced sustained [regulatory](https://bsc.news/post/a-year-in-review-bitcoin-its-regulation-over-2021) scrutiny because of the alleged high energy demands and environmental pollution. Vitalik Buterin estimates the Merge would achieve up to 55% of Ethereum's overall network development. The Merge finally happened around 6.30 am, prompting Vitalik Buterin to [tweet](https://twitter.com/VitalikButerin/status/1570306185391378434?s=20&t=3pX2YBGRuMGRkVmBqKP4_w) triumphantly, The official position of the Ethereum Foundation is that there is no new coin: ETH remains ETH. The switch from POW to POS increased Ethereum's rate of block generation by a marginal 10%. Would regular users be affected by the change? The event transitioned the Ethereum blockchain from Proof-of-Work to a Proof-of-Stake consensus mechanism. Everyone who helped make the merge happen should feel very proud today," Buterin said.

Ethereum is trending lower after 'the Floppening'. There were plenty of sell-the-news warnings, but is that what's causing a Merge hangover?

In fact, Polkadot (DOT) has dropped out of the top 10 with a near double-digit loss. It has indeed been a pretty brutal weekend and start to the week for ETH hodlers. It’s not like the Merge wasn’t a positive event, though. And that’s the notional day Ethereum surpasses Bitcoin as the world’s biggest cryptocurrency by market cap. Any traders/speculators who were specifically buying ETH pre-Merge to capitalise, might now be cashing out and selling off that ETH. But is that really what’s causing the extended hangover?

Ethereum price is losing support and picking up bearish momentum Ethereum price warrants concern Ethereum price is developing more bearish signals as.

This outlook could change quickly due to the bearish scenario that has been cooking for quite a while. Bitcoin price has not only swept key swing lows, as noted in last week’s articles, but it has also reached its first recovery level target. Bitcoin price has single-handedly crashed the entire crypto market as it tumbled below a crucial support level. The author makes no representations as to the accuracy, completeness, or suitability of this information. Cardano price has been repeating this liquidity fractal pattern since June 18 and triggered one just a few hours ago. The author has not received compensation for writing this article, other than from FXStreet. Said price action would result in a 46% increase from the current Ethereum price. The author will not be held responsible for information that is found at the end of links posted on this page. It also does not guarantee that this information is of a timely nature. The 1,250 level has additional confluence as the 200-week moving hovers in the same territory. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. The decline comes at an interesting time as the market sentiment has been quite bullish with speculation that the Merge would bring fruitful returns.

The much-anticipated Ethereum merge went ahead yesterday without incident. It was a momentous event as the blockchain switched from one way of running a ...

This divide and process method will reduce the load on the blockchain. These sub-chains will process transactions independently and relay the information to the main chain. This is a multi-stage update that will improve the scalability and performance capacity of the blockchain. In Ethereum’s case or any blockchain for that matter, it refers to the creation of sub-chains (shards) that will have their own nodes and processing power. Until the Shanghai update occurs, these tokens and rewards will remain locked with the blockchain. Justin Drake, a researcher at the Ethereum Foundation even compared the move to PoS to “switching out the engine from a running car.”

In a recent interview, Changpeng Zhao ("CZ"), the Co-Founder and CEO of Binance, said that users of the Ethereum network should not have unrealistic ...

- “On a PoS blockchain, transactions that go through consensus are final… That allows PoS incentives to be far more granular, further increasing security.“ It’s a long process.“

Although some exchanges and applications have backed Ethereum's forked version (ETHW), its low price has made mining difficult for miners.

ETHW runs on the older proof of work consensus mechanism, where complicated computer equations are solved to gain rewards in the form of Ethereum tokens. According to Investopedia, FTX recorded a trading volume of about $47 million at one point in ETHW trading. In the past seven days, the token dropped 83.16 per cent, while Ethereum (ETH) was down 24.78 per cent in the same period. The company said it appointed an agent to acquire the tokens before selling them and distributing the cash proceeds to shareholders, possibly within 180 days. According to Coinmarketcap data, ETHPoW (ETHW) was down by 36.58 per cent in the last 24 hours to Monday morning. Grayscale, which has invested in Ethereum, received more than three million ETHPoW token rights after the merge.

Ethereum, the second largest cryptocurrency by market capitalisation has dipped more than 15% since the highly anticipated “Merge” which completed on Sept ...

“The data suggests that a critical mass of new users who put capital into cryptocurrency during periods of price growth tend to stay even when prices decline, allowing the ecosystem to consistently grow on net across market cycles,” it added. Asia has dominated crypto adoption globally, with six of the top 10 countries in Chainalysis’ 2022 Global Crypto Adoption Index based in Asia. Chiliz received regulatory approval to operate in Italy on Aug 18.

The company behind the Web3 domain service and Virgil Griffith sued GoDaddy in September alleging the domain registration platform falsely announced ...

CoinDesk is an independent operating subsidiary of [Digital Currency Group](https://dcg.co/), which invests in [cryptocurrencies](https://dcg.co/#digital-assets-portfolio) and blockchain [startups](https://dcg.co/portfolio/). [strict set of editorial policies](/ethics/). District Court for the District of Arizona, said the eth.link registration was set to expire on July 26, 2023. In a complaint filed against GoDaddy in the U.S. 3., two days before it was supposed to go on sale again. [eth.link](http://eth.link), is back online as of Monday, and according to [GoDaddy records](https://uk.godaddy.com/whois/results.aspx?checkAvail=1&tmskey=&domain=eth.link), the address is now registered with another domain registrar [Dynadot LLC](https://www.dynadot.com/domain/whois?domain=eth.link), set to expire in July 2023.

The world's second-biggest blockchain has recorded heavy losses since it transitioned to a Proof-of-Stake consensus mechanism early Thursday. ETH was trading ...

Besides the Ethereum Merge itself, the broader crypto market and its place in the current macroeconomic climate can go some way to explaining why ETH is down. It’s likely that the market will need time to process the impact of such a major change, similar to how Bitcoin only tends to appreciate in value months after its “halving” events. The entire asset class became the subject of scrutiny in 2021 over the environmental impact of Proof-of-Work mining and the climate issue has arguably been a significant barrier in preventing mass adoption. [ultrasound.money data](https://ultrasound.money/), the circulating ETH supply has increased by about 3,000 ETH since the Merge, down from the 53,000 ETH it would have paid out under Proof-of-Work. September has historically been a weak month for crypto prices, and the recent market action has added to the pain for crypto hopefuls following months of selloffs. Coinbase going public on the Nasdaq was another example of a “sell the news” event; many market participants hoped that the U.S. While ETH holders had placed hopes on the Merge serving as a catalyst for bullish price action for Ethereum’s native asset, the event appears to have suffered from the “sell the news” effect. “Buy the rumor, sell the news” is a popular turn of phrase in financial markets. ETHW, the native token for the Proof-of-Work Ethereum chain launched following the Merge, has According to [CoinGecko data](https://www.coingecko.com/en/coins/ethereum), it’s down 25.1% over the past week. - Ethereum has successfully shipped the Merge after years of anticipation, but ETH is down. [showed weakness](https://cryptobriefing.com/with-inflation-8-3-ethereum-risks-sell-the-news-merge/) in the lead-up to the event, taking a hit Wednesday as the U.S.

The crypto leader Bitcoin has dipped to a three-month low, while Ethereum nosedived more than 8% during the day. The hype around Ethereum Merge has subsided ...

The Ethereum Name Service NFT project has regained control of the Web domain name “after securing an injunction from an Arizona court.

“The eth.link domain has been returned to us fully pending the outcome of the court case. “Domain Name Services were restored to ensure the domain value remains. ENS owners can also use the eth.link as a gateway to access their “dot eth” (.eth) address as a typical browser website. According to True Names Ltd, GoDaddy wrongfully assumed the eth.link domain was expired and sold it to a third party. The court ruled: True Names Ltd accused GoDaddy of breaching a domain name registration contract.

The Merge could have been a disaster of epic proportions last week. A failed or buggy overhaul of the Ethereum blockchain would've likely crashed digital asset ...

Today's price action in the world of cryptocurrencies has once again reflected the bearish sentiment of a broad swath of growth investors. As of 10 a.m. ET, ...

Whether this is a result of pervasive bearish sentiment or broader issues around centralization in general in the crypto world is unclear. Some of the negative sentiment that's been building around Ethereum appears to be tied to higher-than expected centralization within proof-of-stake nodes on the more energy-efficient blockchain. That said, in recent days, these two proof-of-work tokens have given up most of their August gains, as investors appear to be selling indiscriminately right now. ET, Ethereum ( [ETH](/quote/crypto/eth/) -2.84%), Ethereum Classic ( [ETC](/quote/crypto/etc/) -7.91%), and Ravencoin ( [RVN](/quote/crypto/rvn/) -6.65%) plunged 6.7%, 10.5%, and 7.9%, respectively, over the past 24 hours. After all, Ethereum did more than double from June's low to August's high (approximately around the time we got confirmation that Ethereum's The Merge would take place in September). [CRYPTO: ETH](/quote/crypto/eth/)

Last week, hot off the heels of the Merge, a complicated plan to swap Ethereum's infrastructure without interrupting the multibillion-dollar cryptocurrency ...

CoinDesk is an independent operating subsidiary of [Digital Currency Group](https://dcg.co/), which invests in [cryptocurrencies](https://dcg.co/#digital-assets-portfolio) and blockchain [startups](https://dcg.co/portfolio/). [strict set of editorial policies](/ethics/). Is it worth having a stable and censorship-resistant payments system that's accessible to anyone in the world, even if it uses as much energy as a medium-sized country? It’s likely that after this weekend’s [crypto market rout](https://www.coindesk.com/data/) even more machines were turned off. Proof-of-work mining is an activity driven by pretty simple supply-and-demand curves: The inputs are the cost of electricity (and hardware) and the price of a network’s token. This movement was taken as a serious affront by many in the Bitcoin community, which sees proof-of-work mining as a cornerstone of Bitcoin's security, decentralization and market neutrality. Not that it should: Although proof-of-work mining is energy intensive, Bitcoin could counterintuitively help fund the build-out of net-zero or renewables infrastructure. EWG plans to spend a further $1 million on propaganda meant to inspire or force the hand of the Bitcoin community to reduce the network's energy consumption. But it’s premature to say that all the specialized EtHash ASIC hardware that once mined ether (ETH) will be turned off forever. But judging by the figures shortly after the Merge, it seems these chains – including Ethereum Classic, Ravencoin and the newly forked Ethereum Proof-of-Work – will not be profitable enough to continue paying for their Proof-of-stake, Ethereum’s new algorithm for processing transactions, would use approximately 99% less power than the proof-of-work (PoW) system Ethereum used to run. [discussed](https://twitter.com/drakefjustin/status/1534819967111241728) by Ethereum researcher Justin Drake, was picked up by U.S.

Illustration of graph with man placing huge growth indicator into place. Image Credits: erhui1979 / Getty Images. Four days ago, just a few minutes before 3 ...

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ENS parent company True Names Ltd., along with previous eth.link owner Virgil Griffith, filed a lawsuit against GoDaddy, Dynadot, and Manifold Finance earlier ...

In a locked [thread](https://discuss.ens.domains/t/ens-and-eth-link-for-your-eyes-only/14398) on the ENS forums, Manifold co-founder Sam Bacha explained why his company “ [sniped](https://twitter.com/foldfinance/status/1566200320375476225?s=20&t=cItGD9-8EpfAteJHuzP6gA)” the name. (Bacha did not immediately respond to Decrypt’s request for comment following the injunction.) Losing access to the eth.link domain disrupted the service for ENS and its users. But the crisis has been averted. This EthLink service enables “.eth” domain users to create viewable websites for themselves with their ENS names and make them accessible from a standard browser. The U.S. [Virgil Griffith](https://decrypt.co/97624/ethereum-dev-virgil-griffith-gets-five-years-in-prison-for-north-korea-trip), filed a lawsuit against GoDaddy, Dynadot, and Manifold Finance earlier this month. “Our injunction was successful and the name has been returned to us,” the ENS wrote on Twitter Sunday night. Our injunction was successful and the name has been returned to us. GoDaddy allegedly transferred the ENS’s eth.link name to domain name registrar Dynadot before its expiration date and put the name up for auction in what the ENS called a “ [breach of contract](https://cases.justia.com/federal/district-courts/arizona/azdce/2:2022cv01494/1309358/19/0.pdf?ts=1662790988)” that violated an agreement to “ [respect, acknowledge, and protect](https://www.scribd.com/document/592846369/Complaint#from_embed)” the eth.link name. ENS uses the eth.link domain to connect “.eth” names to the Domain Name System, or DNS, which is what web browsers use to connect to websites. [ENS](https://decrypt.co/resources/ethereum-name-service-ens-explained-guide-learn)) has regained control of the [eth.link](https://eth.link/) domain name after winning an injunction in its [lawsuit against domain provider GoDaddy](https://decrypt.co/109297/ethereum-name-service-creator-sues-godaddy-over-expired-domain), the ENS announced late Sunday.

In a similar case, prominent domain registration platform GoDaddy encountered trouble in the crypto-verse for a dainty mistake that caused a major crisis.

said in the complaint that the eth.link registration was initially supposed to expire on July 26, 2023. In addition, GoDaddy later sold the domain to At the time that ENS was introduced, Virgil Griffith was employed by the Ethereum Foundation. It should be noted that didn’t include the expense of legal representation. However, GoDaddy declared the expiry on July 26, 2022, claiming to have seen uncertainty regarding the year. In a similar case, prominent domain registration platform GoDaddy encountered trouble in the crypto-verse for a dainty mistake that caused a major crisis.

In this photo illustration, an Ethereum logo seen displayed on an android smartphone. Avishek Das/SOPA Images/LightRocket via Getty Images. By Andrew R.

[showed](https://www.nytimes.com/live/2022/09/13/business/inflation-cpi-report) that inflation in the U.S. Last week, as it became increasingly clear that the merge would be successful, many fans of Ethereum bought into the token based on the belief that the transition boded well for its long-term success. Some crypto-focused lawyers, however, say that there’s a long road from Gensler’s comments to Ether being classified as a security.“The arguments about a token turning into security are actually not that strong,” says Collins Belton, a prominent crypto lawyer and managing partner of legal firm Brookwood. The Federal Reserve’s decision about a potential hike is [expected to be released this Wednesday](https://finance.yahoo.com/news/stock-market-week-ahead-federal-reserve-meeting-rate-hike-september-18-162530690.html). (Read more here about the [merge’s importance](https://time.com/6211294/ethereum-merge-preview/).) But on Monday, investors woke up to the token’s price at its lowest point since July. “From the coin’s perspective…that’s another indicia that under the Howey test, the investing public is anticipating profits based on the efforts of others,” Mr. For years, Ethereum leaders have argued that the token is sufficiently decentralized, and regulators have mostly stayed away. And the market responded in turn: the Dow Jones Industrial Average fell more than 1,200 points, making it the [ index’s worst day](https://time.com/6213122/dow-falls-inflation-high/) since June 2020. [Ethereum ‘merge’ will change crypto forever](https://fortune.com/2022/08/19/everything-to-know-about-the-ethereum-merge/),” crowed Fortune. [successfully transitioned ](https://time.com/6213329/ethereum-merge-done/)to Proof of Stake after a painstaking eight-year development process. Over the last few years, tokens like Bitcoin and Ether have risen and fallen in correlation to larger market trends. But while the developers of the merge promised many changes—including a sharp decrease in energy consumption and increased security—a short-term price increase was not one of them.

At least, that's the post-merge conclusion of Glassnode, a crypto market intelligence provider that foresaw the selloff within Ethereum's futures and options ...

A put option is the same, but for selling an asset. In the perpetual futures market, funding rates are regular payments between traders who are speculating on Ethereum’s short-term future price. A positive funding rate means that traders holding long positions are paying those with short positions, and indicates that the market is generally bullish about an asset’s future price. Leading up to the merge, Leading up to the event, Glassnode noted, ETH was one of very few assets performing well given this year’s bearish macroeconomic climate. [foresaw](https://decrypt.co/107003/ethereum-traders-preparing-buy-sell-merge) the selloff within Ethereum’s futures and options markets last month.