Crypto Strategist Warns Ethereum Rival Fantom Could See More Sell-Offs if Immediate Support is Lost
Altcoin Sherpa, a well-known crypto strategist, has cautioned that Fantom (FTM), an Ethereum challenger that has already dropped by 65% this year, could experience further sell-offs if it loses its immediate support at $0.15. Altcoin Sherpa believes that FTM is overvalued and underused compared to its competitors. He also predicts that Ethereum's value will continue to decline against Bitcoin (ETH/BTC) until it reaches support at 0.053 BTC, which is approximately $1,454. Altcoin Sherpa expects the altcoin markets to rally once ETH/BTC reaches its downside target.
The Annualized Inflation Rate of ETH Rose to 0.447%
Ultra Sound Money data shows that ETH's annualized inflation rate has risen to 0.447%, with an inflation of 10,301 coins in the past seven days.
Ethereum client Hyperledger Besu launches Besu version 23.10.0
Ethereum client Hyperledger Besu has announced the release of version Besu 23.10.0, which is recommended for all mainnet/public network users. It includes many performance improvements, bug fixes, and a new transaction pool that can build more efficient modules with fewer resources. <br>
Since February, Ethereum whales have sold more than 5 million ETH, equivalent to approximately US$8.5 billion.
Well-known on-chain analyst Ali posted on X Platform stating that since February 2023, Ethereum whales have taken advantage of the price surge to sell or redistribute over 5 million ETH, equivalent to about $8.5 billion. The analyst noted that it is worth noting that this selling trend is still continuing, and there is currently no indication that the whales are turning to hoard ETH.
ETH fell below 1550 USDT, down 4.53% in 24H
OKX market data, ETH has fallen below 1550 USDT and is currently priced at 1558.7 USDT, with a 24-hour decline of 4.53%.
Portfolio Insights: EigenLayer
EigenLayer is already working on developing new products such as EigenDA, that provides a hyperscaled data availability layer for Ethereum to unlock higher bandwidth while optimising for cheaper and more consistent fees.
Ethereum Staking Reaches Milestone as 23% of Total Supply is Locked Up
Binance, a major cryptocurrency exchange, has confirmed that around 23% of the total Ethereum supply is now staked, which equates to approximately $45 billion. This trend reflects the growing number of users who are locking up their ETH holdings to participate in various Ethereum-based protocols and earn rewards. The surge in Ethereum staking can be attributed to several factors, including the promise of improved scalability and reduced energy consumption with Ethereum 2.0, the rise of decentralized finance (DeFi), and the transition to a Proof of Stake (PoS) consensus mechanism. While Ethereum staking offers financial incentives, users should carefully consider the potential risks and implications on liquidity and price volatility.
ETH supply increased by nearly 30,000 coins in the past 30 days, worth $47.9 million
According to data aggregator Ultrasound.money, the global supply of ETH has surged by nearly 30,000 ETH in just the past 30 days, equivalent to approximately $47.9 million. The sharp increase in ETH circulation is mainly due to a significant decrease in transaction volume on the Ethereum network: NFT transactions have significantly decreased, as have DeFi activities. Recently, Ethereum's gas fees have dropped very low, with the current average network transaction fee at 7 gwei, or $0.24.
OKX Ventures: EIP-7514 protocol upgrade will bring a more democratic and organic economic system to Ethereum
OKX Ventures stated on the X platform (formerly Twitter) that the current ETH collateralization ratio has reached 22.81%, with a total ETH collateralization of about 27 million coins. ETH collateralization currently faces high centralization risks, but future upgrades such as the EIP-7514 protocol that limits the number of validators, as well as incentives provided by Eigenlayer for decentralized collateralization, will bring a more democratic and organic economic system to Ethereum.
Justin Sun withdrew 32,500ETH from Binance 1 hour ago and deposited 32,600ETH to Lido Finance
Data tracked by Scopescan shows that Justin Sun withdrew 32,500 ETH ($53 million) from Binance through four transactions one hour ago and deposited 32,600 ETH ($53.1 million) into Lido Finance.
Ethereum's Off-Exchange Holdings Reach Record Highs as Supply Dynamics Shift
The supply dynamics of Ethereum have shifted significantly, with 110,000 ETH worth $181 million moving off exchanges in a single day. This marks the most substantial movement away from exchanges since August 21st and reflects a growing trend among Ethereum holders. Currently, the amount of Ethereum held outside of cryptocurrency exchanges has reached an all-time high of 115.88 million ETH, while the supply of Ethereum available on exchanges has dwindled to its lowest level in approximately 5.5 years. This trend suggests strong HODLer sentiment and reduced selling pressure, but it's important to acknowledge the potential for market volatility.
A giant whale withdrew 20,000 ETH from Lido Finance and deposited it all into Binance
TheDataNerd monitoring shows that 40 minutes ago, the whale 0xbcb withdrew 20,000 ETH (worth $32.4 million) from Lido Finance and quickly deposited it all into Binance. It is worth noting that two months ago, Sun Yuchen deposited 5,000 ETH (worth $9.22 million) into Houbi through this wallet. The price of ETH then fell by 12% in the following week.
Vice President of Galaxy Digital: The most pressing issue on Ethereum is the growth of validator size
Christine Kim, Vice President of Research at Galaxy Digital, said that if interest in Ethereum staking does not slow down significantly in the coming months, the size of the Ethereum validator set could pose a problem for the blockchain.
22,343 ETH transferred from unknown wallet to Coinbase
According to data, at 00:42 today Beijing time, 22,343 ETH (valued at approximately $37,220,616) was transferred from an unknown wallet to Coinbase.
Options Contracts With a Nominal Value of US$3.2 Billion in BTC and US$1.8 Billion in ETH Will Expire and Be Delivered Today
September 29th, the data for the current cycle options showed that 118,000 BTC options are about to expire, with a put-to-call ratio of 0.58 and a maximum pain point of $26,500, with a nominal value of $3.2 billion. Additionally, 1.11 million ETH options are about to expire, with a put-to-call ratio of 0.46 and a maximum pain point of $1,650, with a nominal value of $1.8 billion.
Ethereum developers: Holesky testnet has been launched
Terence.eth, an Ethereum developer, posted on X platform that the largest validator set in the history of the Holesky test network has been activated and the final outcome will be coming soon. Currently, some node operators are waiting to go online.
US Treasury adds crypto wallet linked to international crime syndicate to sanctions list
The Office of Foreign Assets Control (OFAC) under the United States Department of the Treasury has included a crypto wallet allegedly linked to a major international crime syndicate in its list of Specially Designated Nationals. The US Treasury has sanctioned 10 individuals, including those associated with the Sinaloa Cartel, with Mexican national Mario Alberto Jimenez Castro being added to the list through an Ethereum wallet. <br>
Cartesi launches DApp Honeypot on Ethereum, allowing challenges to the protocol’s code security
Decentralized operating system Cartesi launched its first DApp Honeypot on the Ethereum mainnet. The design of this DApp is to allow developers and hackers to challenge the code security of the Cartesi protocol in exchange for bounty rewards.
The Honeypot DApp will be used to stress test the basic code of Cartesi on its mainnet, allowing Cartesi's technology to launch and subsequently be used for other DApps. The first person to crack the Honeypot will receive approximately 1,772,889 Cartesi tokens (about $265,000) with no additional conditions.
In the backend code of the Honeypot DApp, there is an algorithm that only allows depositors' accounts of the Cartesi Foundation to withdraw funds. Participants face the challenge of cracking the password and withdrawing funds to their own accounts.
A Giant Whale Sold 3,999 ETH and Exchanged It for 6.32 Million Stablecoins 4 Hours Ago
As monitored by on-chain analyst Yu Jin, a whale sold 3,999 ETH for 5.04 million DAI, 560,000 USDT, and 720,000 USDC (6.32 million USD) via Uniswap four hours ago, with an average selling price of 1,582 USD. The whale currently holds 2,970 ETH (4.72 million USD).
Ethereum Co-Founder Vitalik Buterin Deposits Over $3.9 Million Worth of ETH to Centralized Exchanges in September 2023
Blockchain analysts have identified several transactions from a wallet linked to Ethereum co-founder Vitalik Buterin in September 2023, totaling over $3.9 million. One transaction worth an estimated $632,000 was sent from Buterin's wallet to Coinbase. Buterin has reportedly deposited a total of 2,421 ETH, valued at $3.94 million, to various centralized exchanges over the past 10 days. The source of a transfer of 2,000 ETH worth $4.9 million to the address associated with Buterin's transactions is a better-known address belonging to Buterin than the middle address that has been transferring funds to exchanges.
