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Ethereum Constantinople To Launch In Jan. 2019, ETH Surges 10%

Ethereum Constantinople Blockchain Upgrade Nearing Activation

As reported by Ethereum World News in early-October, after developing Constantinople for months, the Ethereum core development team decided to take the blockchain upgrade to the network’s Ropsten testnet. At the time, the developers believed that if the test succeeded, Constantinople, a protocol that will decrease block rewards and divert ASICs,  would be uploaded to the mainnet by October’s end.

However, upon activation of the upgrade on Ropsten, it became apparent that something was amok, as the fork stalled at block 4,299,999 for two hours, indicating that Constantinople had trouble coming out of the starting gate. Even after the testnet resumed, zero transactions were initially shown in the post-hard fork blocks.

Eventually, Afri Schoedon, a developer at Parity, took to Twitter to give the crypto community a concise update on the situation, simply explaining that a consensus issue had unfortunately occurred, catalyzing a three-way fork between Geth, Parity, and another popular Ethereum-based client. In a post-mortem of the fork, the Parity developer explained:

  • Recently added hashpower caused reduced block times and caused this hardfork to happen much earlier than expected on a Saturday which is, by all means, the worst time for a hardfork.
  • Hardfork happened only 6 days after Geth release and 1 day after Parity release, users had not enough time to upgrade.
  • There is no fork monitor available, only http://ropsten-stats.parity.io which does not reveal details about the different chains.

Keeping all these issues in mind, Schoedon, who is an active blockchain developer, claimed that the Ethereum community shouldn’t rush this pertinent upgrade.

After the event, Ethereum World News stipulated that Constantinople could activate by mid-January, the 16th to be exact. And now, in a recent Core Developer meeting, this call for a January blockchain upgrade has come true.

Through the project’s most recent bi-weekly call, it has been confirmed that Ethereum Constantinople will activate on the processing of block 7,080,000, which is slated to arrive around January 14th, per CoinTelegraph and statistics from Etherscan.

Serenity Continues To Loom 

For those who aren’t aware, the launch of Constantinople is a pertinent event in Ethereum’s long-term calendar, as the upgrade will move the long-standing project one step closer towards Serenity.

Justin Drake, a blockchain researcher, recently told Ran NeuNer that Serenity, or Ethereum 2.0, has been chugging along just fine. Drake claimed that researchers have continued to propose better and better designs for the upgraded blockchain, which would see Ethereum activate Sharding, a protocol that speeds up data processing.

Even Vitalik Buterin, a co-founder of the world-renowned project, lauded Serenity. At Devcon4, the Russian-Canadian coder noted that the blockchain overhaul may eventually facilitate “pure PoS consensus, faster times to synchronous confirmation (8-16 seconds), economic finality (10-20 minutes),” and, most importantly, a 1,000x scalability upside, which will likely discredit all fears of scalability.

ETH Posts 10% Gain Amid Market Tumult

Although the news regarding the Constantinople upgrade’s activation wasn’t confirmed as a bullish catalyst, in the past 24 hours, as per Live Coin Watch, Ether (ETH) has surged by 10.6%, beating the performance of Bitcoin by 8.62%.

This recent move, which sent the asset sky-high, brings ETH to $94.7, after falling to a more-than-year-to-date low at $82 on Thursday night/Friday morning from over-$100.

Title Image Courtesy of ian dooley on Unsplash

The post Ethereum Constantinople To Launch In Jan. 2019, ETH Surges 10% appeared first on Ethereum World News.

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Why We Might Wait a While for Coinbase to List Cardano (ADA), XRP and Stellar (XLM)

In a move that has left many crypto enthusiasts scratching their heads, the cryptocurrency exchange of Coinbase has announced that it was exploring listing another set of cryptocurrencies. This new list was announced before completion of the previous list of 5 digital assets. That list still had 2 digital assets yet to be listed on Coinbase: Cardano (ADA) and Stellar (XLM).

The exchange made the announcement via twitter as follows:

Coinbase is exploring the addition of 30+ new digital assets. It’s our goal to offer support for all assets that meet our standards and are compliant with local law.

A Total of 31 Digital Assets

Coinbase went on to announce via Medium.com that it was exploring the following new list of 31 digital assets.

Cardano (ADA), Aeternity (AE), Aragon (ANT), Bread Wallet (BRD), Civic (CVC), Dai (DAI), district0x (DNT), EnjinCoin (ENJ), EOS (EOS), Golem Network (GNT), IOST (IOST), Kin (KIN), Kyber Network (KNC), ChainLink (LINK), Loom Network (LOOM), Loopring (LRC), Decentraland (MANA), Mainframe (MFT), Maker (MKR), NEO (NEO), OmiseGo (OMG), Po.et (POE), QuarkChain (QKC), Augur (REP), Request Network (REQ), Status (SNT), Storj (STORJ), Stellar (XLM), XRP (XRP), Tezos (XTZ), and Zilliqa (ZIL).

The Observation that Coinbase Likes to List ERC20 Tokens First

In the previous list of 5 digital assets that Coinbase was exploring, it was noted that the exchange listed the ERC20 tokens of Ox (ZRX) and Basic Attention Token (BAT) first. This is in line with a March 2018 announcement by the exchange that it was supporting the Ethereum ERC20 technical standard. From a software integration point of view, Coinbase will have an easier time listing ERC20 tokens than listing Cardano (ADA), Stellar (XLM), XRP and any other coin with a different protocol.

25 Tokens In the New List

Out of the 31 digital assets mentioned by Coinbase, 6 are coins on their own networks. They include ADA, EOS, NEO, XLM, XRP and Tezos (XTZ).

This means that the other 25 are tokens that could be listed before the 6 aforementioned coins.

We can also assume that the exchange might choose to list Dai (DAI) next since it is a stablecoin. The past few months of market volatility has created a need for stablecoins for traders to hedge with during times of market turmoil.

The ‘Anomaly’ That was ZCash (ZEC)

The listing of ZEC by Coinbase a few days back caught many traders off guard. No one expected ZEC to be listed before ADA and XLM. This then led us to explore two speculative reasons as to why this was so.

Firstly, we put forth the idea that Coinbase wants to compete with the Gemini exchange by the Winklevoss Twins that already has ZEC. Secondly, we put forth the idea that ZEC was listed due to demand by institutional clients. Coinbase did a similar thing when they opened an OTC trading desk after requests from institutional investors.

The Silver Lining

However, in our attempt to explain how and when Coinbase will list XLM, XRP or ADA, we have missed the obvious: that the future holds the possibility of more digital assets being listed on the platform.

What are your thoughts on Coinbase announcing a new list of 31 digital assets before completing the earlier list of 5 that included ADA and XLM? Please let us know in the comment section below.

[Image courtesy of Shutterstock]

Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.

The post Why We Might Wait a While for Coinbase to List Cardano (ADA), XRP and Stellar (XLM) appeared first on Ethereum World News.

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BitMEX CEO’s Call For Double-Digit Ethereum Comes True: ETH At $90

Arthur Hayes: Ethereum (ETH), A “Double Digit S*hitcoin”

In late-August of this year, Arthur Hayes, the chief executive at BitMEX, the world’s foremost crypto mercantile exchange, took to his firm’s in-house blog to tout some controversial sentiment. In an extensive post, the former institutional trader began his Ethereum (ETH) bash by telling a personal story, hyperbolized to convey a point.

The BitMEX CEO discussed a s*hitcoin named Pepe Cash, an evident combination of a popular internet meme and Bitcoin Cash, and somehow, someway, related it back to Ethereum, which Hayes evidently holds a grudge against. Hayes, imbuing the op-ed with his normal swagger — unfiltered statements, crazy calls, and all — even noted that ETH could “go from a 3-digit to a 2-digit s*hitcoin.”

Backing his statement, which was inflammatory to put it lightly, Hayes drew attention to ICO-funded projects, many of which based their operations around Ethereum, venture capitalists “turned-hedge-fund-punters,” and crypto-centric funds.

Hayes’ chastising of Ether was quite extensive, but the long and the short of it is Hayes believed that there was enough prospective selling pressure to push the asset below $100, which was situated at $200 at BitMEX’s time of press.

While many proponents of Ethereum and “altcoin maximalists” laughed at the industry savant for his sentiment, lambasting the prediction (of sorts) as foolhardy, on Thursday, the asset finally showed signs of falling to double-digits.

At first, during the wee hours of Thursday morning, ETH suddenly flash crashed to $13 on Coinbase Pro — straight out of left field.

Although this move wasn’t backed by a clear catalyst, nor did Coinbase recently a statement on the matter, a number of Ether’s skeptics took to Twitter to claim that the asset’s time was up. Decentralist Kevin Pham, a zealous Bitcoin maximalist and anti-ETH fanatic, took to his Twitter following to claim that both the asset and Coinbase were a “s*hitshow.”

Others also chimed in, with Justin Sun of Tron even telling developers to “plz leave Ethereum and join Tron.” NVK, a pseudonymous crypto commentator, also expressed his/her thoughts, noting that at its core, the aforementioned project is “centralized,” before asking his followers to use Bitcoin and its recently-established Liquid Network to issue tokens.

While ETH subsequently recovered to $100, with those who bought in at the bottom making 770% near-instantly, the asset continued lower on Thursday, following BTC as it slid below $3,500. Eventually, the asset fell under $100, after putting up a fight at that key psychological, technical, and fundamental level for hours on end. As BTC continues to stumble, recently moving under $3,350 in a seemingly endless downtrend, ETH has followed suit, moving to $98 before finding itself rapidly falling to $88, where it has found itself.

So for the second time in weeks, it seems that Arthur Hayes has made a successful prediction against crypto, as the member of BitMEX’s top brass called for BTC to move under $5,000 previously.

Keeping all this tumult in mind, a number of analysts and market commentators took to Twitter to tout their thoughts. Alex Kruger, a prominent crypto-friendly macro markets analyst/investor, posted the photo above, evidently summing up Ether holders’ sentiment in a simple image.

Ethereum Believers Maintain Faith

Although the sentiment touted by traders is undoubtedly bearish, a number of diehard believers in this “world computer” project have maintained their bullish sentiment. Tom Lee, head of research at Fundstrat, recently took to Blockshow Asia to claim that Bitcoin, XRP, and Ethereum all have staying power, due to their status as established networks with purportedly bonafide use cases.

Mihailo Bjelic, a blockchain researcher, took to Twitter to claim that while ConsenSys, an Ethereum development consortium recently downsized, it remains a booming project.

ShapeShift CEO Erik Voorhees, responding to criticism regarding ETH from Peter Schiff, a Bitcoin hater, joked that “[Ether] HODLers are crying all the way to the bank… although they don’t need banks anymore, either.”

Title Image Courtesy of Pedro Gabriel Miziara on Unsplash

The post BitMEX CEO’s Call For Double-Digit Ethereum Comes True: ETH At $90 appeared first on Ethereum World News.

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BitMEX CEO’s Call For Double-Digit Ethereum Comes True: ETH At $90

Arthur Hayes: Ethereum (ETH), A “Double Digit S*hitcoin”

In late-August of this year, Arthur Hayes, the chief executive at BitMEX, the world’s foremost crypto mercantile exchange, took to his firm’s in-house blog to tout some controversial sentiment. In an extensive post, the former institutional trader began his Ethereum (ETH) bash by telling a personal story, hyperbolized to convey a point.

The BitMEX CEO discussed a s*hitcoin named Pepe Cash, an evident combination of a popular internet meme and Bitcoin Cash, and somehow, someway, related it back to Ethereum, which Hayes evidently holds a grudge against. Hayes, imbuing the op-ed with his normal swagger — unfiltered statements, crazy calls, and all — even noted that ETH could “go from a 3-digit to a 2-digit s*hitcoin.”

Backing his statement, which was inflammatory to put it lightly, Hayes drew attention to ICO-funded projects, many of which based their operations around Ethereum, venture capitalists “turned-hedge-fund-punters,” and crypto-centric funds.

Hayes’ chastising of Ether was quite extensive, but the long and the short of it is Hayes believed that there was enough prospective selling pressure to push the asset below $100, which was situated at $200 at BitMEX’s time of press.

While many proponents of Ethereum and “altcoin maximalists” laughed at the industry savant for his sentiment, lambasting the prediction (of sorts) as foolhardy, on Thursday, the asset finally showed signs of falling to double-digits.

At first, during the wee hours of Thursday morning, ETH suddenly flash crashed to $13 on Coinbase Pro — straight out of left field.

Although this move wasn’t backed by a clear catalyst, nor did Coinbase recently a statement on the matter, a number of Ether’s skeptics took to Twitter to claim that the asset’s time was up. Decentralist Kevin Pham, a zealous Bitcoin maximalist and anti-ETH fanatic, took to his Twitter following to claim that both the asset and Coinbase were a “s*hitshow.”

Others also chimed in, with Justin Sun of Tron even telling developers to “plz leave Ethereum and join Tron.” NVK, a pseudonymous crypto commentator, also expressed his/her thoughts, noting that at its core, the aforementioned project is “centralized,” before asking his followers to use Bitcoin and its recently-established Liquid Network to issue tokens.

While ETH subsequently recovered to $100, with those who bought in at the bottom making 770% near-instantly, the asset continued lower on Thursday, following BTC as it slid below $3,500. Eventually, the asset fell under $100, after putting up a fight at that key psychological, technical, and fundamental level for hours on end. As BTC continues to stumble, recently moving under $3,350 in a seemingly endless downtrend, ETH has followed suit, moving to $98 before finding itself rapidly falling to $88, where it has found itself.

So for the second time in weeks, it seems that Arthur Hayes has made a successful prediction against crypto, as the member of BitMEX’s top brass called for BTC to move under $5,000 previously.

Keeping all this tumult in mind, a number of analysts and market commentators took to Twitter to tout their thoughts. Alex Kruger, a prominent crypto-friendly macro markets analyst/investor, posted the photo above, evidently summing up Ether holders’ sentiment in a simple image.

Ethereum Believers Maintain Faith

Although the sentiment touted by traders is undoubtedly bearish, a number of diehard believers in this “world computer” project have maintained their bullish sentiment. Tom Lee, head of research at Fundstrat, recently took to Blockshow Asia to claim that Bitcoin, XRP, and Ethereum all have staying power, due to their status as established networks with purportedly bonafide use cases.

Mihailo Bjelic, a blockchain researcher, took to Twitter to claim that while ConsenSys, an Ethereum development consortium recently downsized, it remains a booming project.

ShapeShift CEO Erik Voorhees, responding to criticism regarding ETH from Peter Schiff, a Bitcoin hater, joked that “[Ether] HODLers are crying all the way to the bank… although they don’t need banks anymore, either.”

Title Image Courtesy of Pedro Gabriel Miziara on Unsplash
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BitGuild Moves the Bitizens Gaming DApp From Ethereum (ETH) to Tron (TRX)

In a tweet on the 25th of November, Justin Sun had urged Ethereum (ETH) developers to migrate their tokens and projects to the Tron (TRX) platform. His tweet went on to explain why they should do so.

In bear market, #Ethereum developers should migrate your token to #TRON immediately.

  1. 0 transaction fee, no gas in #TRX.
  2. Compatible to #ETH, 0 migration cost.
  3. 2000 TPS.
  4. #TRON dex listing.

You can easily increase your token value 100% with High liquidity.

BitGuild Migrates the Bitizens Gaming DApp from Ethereum to Tron

One such project known as BitGuild, has decided to migrate its Bitizens Dapp and the world of Bitropolis from the Ethereum network to that of Tron. The team also announced that they will be taking the portal and the Bitizens game offline to facilitate the move.

The team went to request patience as they iron out the process.

We hope you understand that this endeavor will ultimately lead to a better, stronger and more vibrant future for BitGuild and its community.

We apologize for any inconvenience, and we’re looking forward to resuming full operations as soon as possible.

Possible Reasons Why BitGuild Moved Bitizens to the Tron Network

The announcement by BitGuild did not dwell much into why they chose to move the Bitizens DApp from the Ethereum network to that of Tron. However, the Tron network has been exhibiting exponential growth since the Mainnet was launched mid this year. Once the Tron Virtual Machine was activated in October, the sky was the limit for Tron in terms of attracting developers to create DApps on its platform.

One unique feature of the Tron Virtual Machine is that it is compatible with both the Solidity programming language and the Ethereum Virtual Machine. This means that migration between the two platforms should not be too much of a hustle for an experienced developer. This is evident in the number of smart contracts that are active on the Tron network: 1,119.

There is also the additional fact that the Tron network can process up to 2,000 transactions per second. This is 80 times faster than the Ethereum network. Doing the math, the Tron network can handle 172,800,000 transactions in a day at maximum capacity.

Checking TronScan.org, we find that in the last 24 hours, the Tron network has processed 1.94 Million transactions compared to 600,000 on the Ethereum network during the same time period.

With the Tron foundation planning on integrating the zk-SNARKS privacy protocol onto the network, it is not surprising that DApps will choose its platform over Ethereum’s.

The Tron Foundation has also launched a DApp accelerator plan to make sure that the network has the best DApp developers moving forward.

What are your thoughts on BitGuild moving its Bitizens game from the Ethereum network to that of Tron? Is it a sign of things to come as projects look for networks with higher processing capabilities? Please let us know in the comment section below. 

[Image courtesy of @BitGuildPLAT]

Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.

The post BitGuild Moves the Bitizens Gaming DApp From Ethereum (ETH) to Tron (TRX) appeared first on Ethereum World News.

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BitGuild Moves the Bitizens Gaming DApp From Ethereum (ETH) to Tron (TRX)

In a tweet on the 25th of November, Justin Sun had urged Ethereum (ETH) developers to migrate their tokens and projects to the Tron (TRX) platform. His tweet went on to explain why they should do so.

In bear market, #Ethereum developers should migrate your token to #TRON immediately.

  1. 0 transaction fee, no gas in #TRX.
  2. Compatible to #ETH, 0 migration cost.
  3. 2000 TPS.
  4. #TRON dex listing.

You can easily increase your token value 100% with High liquidity.

BitGuild Migrates the Bitizens Gaming DApp from Ethereum to Tron

One such project known as BitGuild, has decided to migrate its Bitizens Dapp and the world of Bitropolis from the Ethereum network to that of Tron. The team also announced that they will be taking the portal and the Bitizens game offline to facilitate the move.

The team went to request patience as they iron out the process.

We hope you understand that this endeavor will ultimately lead to a better, stronger and more vibrant future for BitGuild and its community.

We apologize for any inconvenience, and we’re looking forward to resuming full operations as soon as possible.

Possible Reasons Why BitGuild Moved Bitizens to the Tron Network

The announcement by BitGuild did not dwell much into why they chose to move the Bitizens DApp from the Ethereum network to that of Tron. However, the Tron network has been exhibiting exponential growth since the Mainnet was launched mid this year. Once the Tron Virtual Machine was activated in October, the sky was the limit for Tron in terms of attracting developers to create DApps on its platform.

One unique feature of the Tron Virtual Machine is that it is compatible with both the Solidity programming language and the Ethereum Virtual Machine. This means that migration between the two platforms should not be too much of a hustle for an experienced developer. This is evident in the number of smart contracts that are active on the Tron network: 1,119.

There is also the additional fact that the Tron network can process up to 2,000 transactions per second. This is 80 times faster than the Ethereum network. Doing the math, the Tron network can handle 172,800,000 transactions in a day at maximum capacity.

Checking TronScan.org, we find that in the last 24 hours, the Tron network has processed 1.94 Million transactions compared to 600,000 on the Ethereum network during the same time period.

With the Tron foundation planning on integrating the zk-SNARKS privacy protocol onto the network, it is not surprising that DApps will choose its platform over Ethereum’s.

The Tron Foundation has also launched a DApp accelerator plan to make sure that the network has the best DApp developers moving forward.

What are your thoughts on BitGuild moving its Bitizens game from the Ethereum network to that of Tron? Is it a sign of things to come as projects look for networks with higher processing capabilities? Please let us know in the comment section below. 

[Image courtesy of @BitGuildPLAT]

Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.

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Ethereum Classic (ETC) Development Team Shuts Down Operations Due to Funding

In a tweet only hours old, the team in charge of development at Ethereum Classic (ETC), threw in the towel citing funding difficulties that made it hard for them to continue operations. The tweet included a screenshot of an announcement from ETCDEV’s founder and CTO, Igor Artamonov, that stated the following:

As is publicly known we have struggled with funding our operation in the last few weeks. This was partially due to the market crash, combined with a cash crunch in the company.

We appealed to investors in the ecosystem as well as external to it. We also did the community fund, but in none of these cases were we successful in securing short-term financing.

The full tweet can be found below.

Does This Mark the End of The Road for Ethereum Classic?

Further checking coinmarketcap.com, ETC has fallen 13.3% in the last 24 hours due to the news of the development team throwing in the towel. Early Monday found ETC trading at around $5.08. The digital asset is now valued at $4.52 as news continues to reach the crypto-verse about the fate of ETCDEV.

ETC had shown some much needed momentum when it was listed on Coinbase this August. However, any market gains have been eroded by the bear market. The announcement by ETCDEV might be the nail in the coffin that seals the fate of ETC in the markets.

A Polite Plea for Funding From the Community

On the 2nd of December, the team at ETCDEV had asked the ETC community if they would be willing to help fund operations at the development company. 59% of a total of 692 community members responded that they would NOT contribute to fund ETCDEV. A screenshot of the current results can be found below.

Who is the Ethereum Classic (ETC) Development Team

According to the team’s website, the ETC Development team is responsible for the following functions in the Ethereum Classic ecosystem.

ETCDEV is a leading Ethereum Classic development company with a strong focus on decentralized computing providing long term support for the ETC blockchain.

The ETCDEV team maintains Classic Geth, the main client for the ETC blockchain. We also contributed original projects, such as Emerald to help others develop on the ETC blockchain, Emerald Wallet for end users, and SputnikVM as a standalone, modular, embeddable and IoT ready EVM.

What are your thoughts on the Ethereum Classic Development Team ceasing operations due to funding?  Is this the end of ETC? Please let us know in the comment section below. 

Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.

The post Ethereum Classic (ETC) Development Team Shuts Down Operations Due to Funding appeared first on Ethereum World News.

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Crypto Market Stand Its Ground, Three of the Top 20 Coins by Market Cap See Gains

The crypto market stands its ground, with Bitcoin hovering around $6,400 and three out of 20 top cryptocurrencies by market cap in green.

Saturday, September 8: after a recent sell-off, the crypto markets is standing its ground today, with three of top 20 coins by market cap in the green and Bitcoin (BTC) hovering around $6,400 support.

Market visualization from Coin360

Market visualization from Coin360

After facing a sharp decline on the week, Bitcoin is holding its position on the market, down around 0.7 percent over the past 24 hours and trades at around $6,394 at press time. Yesterday, the major cryptocurrency dropped to as low as $6,354.

Weekly Bitcoin price chart

Weekly Bitcoin price chart. Source: Cointelegraph Bitcoin Price Index

Ethereum (ETH) keeps trading at around $210, down over 3 percent over the 24 hour period to press time.

Weekly Ethereum price chart

Weekly Ethereum price chart. Source: Cointelegraph Ethereum Price Index

Total market cap is standing its ground, currently at the $203 billion point having seen some slight fluctuations around the $204 billion point today. Total market cap had an intraday low of $202 billion and high of $205 billion.

Weekly total market capitalization chart

Weekly total market capitalization chart. Source: CoinMarketCap

After seeing a top dominance rate that surged to as high as 55.5 percent on September 6, Bitcoin currently holds 55.1 percent of the crypto markets, the total number of which constitutes 1,926 at press time.

Weekly percentage of Total Market Cap (Dominance)

Weekly percentage of Total Market Cap (Dominance). Source: CoinMarketCap

While the most of cryptocurrencies among top 20 coins by market cap are seeing slight losses, some coins have outperformed, seeing gains of over 5 percent over the past 24 hours.

Dash (DASH) is up more than 5 percent over the past 24 hours, trading at around $196 at press time. The altcoin is still down more than 9 percent over the past week, according to CoinMarketCap.

Dogecoin (DOGE), which has skyrocketed recently, is also among the leaders in terms of top 20 coins by market cap today. The digital currency is trading at $0.006 at press time, up about 5.5 percent over a 24 hour period, but at the same time almost 9 percent down over the week.

In contrast, Stellar (XLM) and Cardano (ADA) are seeing the biggest losses over the top ten crypto by market cap. The sixth top coin, XLM is down around 2 percent over the past 24 hours, trading at around $0.20. Cardano is down around 2.7 percent, trading at around $0.08 at press time.

Recently, Coinbase CEO Brian Armstrong predicted that the number of people in the crypto ecosystem will grow from the current 40 million to 1 billion in the next five years, claiming that tokens would operate together with equity as an alternative investment system.

Yesterday, Cointelegraph reported on a study by investment platform SharesPost revealing that a majority of accredited and retail investors plan to increase their crypto asset holdings over the next 12 months.

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Wha Next for Ethereum (ETH)?

Ethereum (ETH) has had a rough week in the crypto markets. On the 5th of September, right before the whole market lost close to $40 Billion in a day, ETH was valued at $280 and seemed to have considerable support at that level. Then the news hit that Goldman Sachs have decided not to proceed with plans for a Bitcoin (BTC) and Crypto trading desk. The entire market tanked. ETH fell in the markets to current levels of $219 as the news about Goldman Sachs have since been declared as fake news.

Fears of Further Decline and ICO’s Dumping ETH in the Markets

The Ethereum HODLers in the crypto community are concerned that ETH will continue falling to levels well below $200.The last time ETH went below this levels was back in mid September when it was valued briefly at $195.

With the constant rumors that ICOs are selling the ETH they raised last year and early this year to avoid further losses, the concern still lingers of the possibility of the digital asset continuing to depreciate in value. Although this claims have not been confirmed, the theory is plausible given the tonnes of crypto that was poured into ICOs from late last year to date.

Will it Go To Zero?

The extreme side of events is that ETH will plummet to zero as everyone ditches the digital asset for more stabler coins such as Stellar (XLM). There is also the theory that ETH can be replaced as the preferred ‘gas’ payment on the Ethereum network thus making the digital asset obsolete. However, the Ethereum community would not agree to such a radical overhaul of the network’s operations.

A Call for a New Ethereum Network

This then leads to a new discussion that the Ethereum network needs to evolve with the times or risk being obsolete as more efficient networks are created. These include the likes of Tron (TRX), Zilliqa (ZIL) and Neo (NEO). Of particular concern are the security vulnerabilities in Ethereum smart contracts as well as the network having congestion issues that need to be solved by increasing its throughput.

Waiting It Out

The good thing is that ETH still has fans and HODLers who are willing to wait out the current storm in the form of a bear market. There are also high hopes that the scalability issues on the network will be solved very soon further injecting the much needed life into the digital asset.

In conclusion, the digital asset of ETH is facing some trying times in the crypto markets as it has dropped 85% since its peak value of $1,400. With the bear market still in full force at the moment of writing this, there is some fear that its value could drop further. However, the long term future of ETH is still bright if its network can evolve with the times.

Disclaimer: This article is not meant to give financial advice. Any opinion herein should be taken as is. Please carry out your own research before investing in any of the numerous cryptocurrencies available.

The post Wha Next for Ethereum (ETH)? appeared first on Ethereum World News.

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What Next for Ethereum (ETH)?

Ethereum (ETH) has had a rough week in the crypto markets. On the 5th of September, right before the whole market lost close to $40 Billion in a day, ETH was valued at $280 and seemed to have considerable support at that level. Then the news hit that Goldman Sachs have decided not to proceed with plans for a Bitcoin (BTC) and Crypto trading desk. The entire market tanked. ETH fell in the markets to current levels of $219 as the news about Goldman Sachs have since been declared as fake news.

Fears of Further Decline and ICO’s Dumping ETH in the Markets

The Ethereum HODLers in the crypto community are concerned that ETH will continue falling to levels well below $200.The last time ETH went below this levels was back in mid September when it was valued briefly at $195.

With the constant rumors that ICOs are selling the ETH they raised last year and early this year to avoid further losses, the concern still lingers of the possibility of the digital asset continuing to depreciate in value. Although this claims have not been confirmed, the theory is plausible given the tonnes of crypto that was poured into ICOs from late last year to date.

Will it Go To Zero?

The extreme side of events is that ETH will plummet to zero as everyone ditches the digital asset for more stabler coins such as Stellar (XLM). There is also the theory that ETH can be replaced as the preferred ‘gas’ payment on the Ethereum network thus making the digital asset obsolete. However, the Ethereum community would not agree to such a radical overhaul of the network’s operations.

A Call for a New Ethereum Network

This then leads to a new discussion that the Ethereum network needs to evolve with the times or risk being obsolete as more efficient networks are created. These include the likes of Tron (TRX), Zilliqa (ZIL) and Neo (NEO). Of particular concern are the security vulnerabilities in Ethereum smart contracts as well as the network having congestion issues that need to be solved by increasing its throughput.

Waiting It Out

The good thing is that ETH still has fans and HODLers who are willing to wait out the current storm in the form of a bear market. There are also high hopes that the scalability issues on the network will be solved very soon further injecting the much needed life into the digital asset.

In conclusion, the digital asset of ETH is facing some trying times in the crypto markets as it has dropped 85% since its peak value of $1,400. With the bear market still in full force at the moment of writing this, there is some fear that its value could drop further. However, the long term future of ETH is still bright if its network can evolve with the times.

Disclaimer: This article is not meant to give financial advice. Any opinion herein should be taken as is. Please carry out your own research before investing in any of the numerous cryptocurrencies available.

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