In today’s bitcoin and cryptocurrency news, uncover that Ethereum is not yet complete, but the next update may be on the horizon. Hopefully, the high cost of using the Ethereum network will be alleviated in Shanghai. Ethereum must undergo constant development if it is to maintain its competitive edge. In addition, Cryptocurrency is a hot topic. People thought it was easy money. Due to the strictness of several governments, the prices of many cryptocurrencies from bitcoin have fallen. Meanwhile, billionaire cryptocurrency investor and FTX founder Sam Bankman-Fried has dropped hints that Cardano (ADA) may soon be listed on the exchange. With no spot listing on the FTX exchange, the Altcoin is the only top-25 cryptocurrency that does not have one. Lastly, data shows that cryptocurrency exchanges are making money off of increased trading volume, despite the fact that cryptocurrency prices are now in the red.
The Upcoming Ethereum Upgrade Will Happen Soon. Consider the Possible Outcomes
Original Source: Ethereum’s Next Upgrade Is Scheduled. Here’s What It Might Accomplish.
Ethereum engineers are working on the next upgrade after The Merge.
Mid-September, Ethereum (ETH 13.83%) received one of the most critical blockchain updates. The update switched from a clumsy, energy-intensive approach called proof of labor to proof of stake. This update is one of many planned for Ethereum.
The Merge has captivated bitcoin investors and blockchain users for months due to its complexity. Ethereum developers were doubted. The Merge has created the groundwork for further changes that should help Ethereum serve additional uses and gain value.
The Ethereum Foundation announced the next update on Oct. 14. Shanghai will offer crucial capabilities to Ethereum by September 2023.
These upgrades start with a list of updates before being pared down. Currently, there are seven possible possibilities, but that number will likely drop as testing occurs and developers choose the most practicable and required.
New Shanghai features
Three Ethereum Improvement Protocols (EIP) updates could be part of Shanghai.
First possible update: a reduction in gas or user fees for Layer 2 solutions. Polygon, Arbitrum, and Optimism have been popular as Ethereum has expanded. These Layer 2 solutions make Ethereum faster and cheaper to use, and they’re likely to get even cheaper.
Two EIPs aim to lower gas expenses connected with Layer 2 solutions. Developers will likely test both and then pick which to implement. Ethereum transactions will be cheaper for its users.
One of the other major upgrades in Shanghai will be the withdrawal of staked ether tokens. As part of The Merge, miners were replaced with validators, and to become a validator, you had to stake 32 tokens. At today’s prices, that’s more than $40,000. Until Shanghai is exposed, staked ether is locked as collateral and cannot be withdrawn or sold. To keep validators satisfied and guarantee they continue supporting the networks, this EIP will definitely be included in the future upgrade.
Last but not least is a planned enhancement to smart contract functionality. Because smart contracts are the backbone of decentralized autonomous organizations (DAOs), non-fungible tokens (NFTs), and decentralized finance (DeFi), improving its operability to keep up with developer requests is crucial for Ethereum to remain competitive.
Instead of waiting for smart contract code to be approved, developers may now validate their code during the construction process.
Ethereum developer Tim Beiko stated this will give two key benefits. First, it will isolate code and data, allowing Layer 2s handle smart contract code quicker. The new smart contract feature should cut gas prices even further.
The Current Price of Ethereum, a Cryptocurrency, is $1,484.08
Original Source: Cryptocurrency Update: Ethereum cryptocurrency is currently trading at $1,484.08
The bitcoin market is hot currently. People saw it as the quickest way to become rich. Due to the strictness of various governments throughout the world, the prices of numerous cryptocurrencies from bitcoin have fallen. However, several cryptocurrencies are still rising. Some cryptocurrencies with rates less than 2 dollars (150 rupees) have offered good profits. Tell us the latest rate of Cardano cryptocurrency compared to Bitcoin, Dogecoin, XRP, and Ethereum.
The bitcoin cryptocurrency is presently trading at $20,262.01 on CoinDesk. It’s currently up 4.79 percent. The market cap of bitcoin is $388.80 billion. In the last 24 hours, the greatest price of bitcoin was $ 20,406.04 and the minimum was $ 19,247. Bitcoin has given a negative return of 56.16 percent since January 1, 2022. The all-time high price of bitcoin was $68,990.90.
Ethereum is presently trading at $1,484.08 on CoinDesk. It’s currently gaining 10.29 percent. The market cap of Ethereum is $177.62 billion. In the last 24 hours, the maximum price of Ethereum was $1,524.20 and the minimum price was $1,340.09. Ethereum has produced a negative return of 59.59% since January 1, 2022. The all-time high price of Ethereum is $4,865.57.
The XRP cryptocurrency is currently trading at $0.46009032 on CoinDesk. It’s now gaining 1.91 percent. At this rate, the XRP cryptocurrency is worth $46.0 billion. In the previous 24 hours, the greatest price of XRP was $ 0.47 and the minimum was $ 0.44. XRP has given a negative return of 44.08 percent since January 1, 2022. The all-time high price of XRP is $3.40.
Sam Bankman-Fried Reveals the Latest on the FTX Listing of Cardano (ADA)
Original Source: Sam Bankman-Fried Provides Update for Cardano (ADA) Listing on FTX
Sam Bankman-Fried, founder of FTX, said Cardano (ADA) could earn a spot listing. The Altcoin is the only top 25 crypto without an FTX listing.
FTX adds Cardano (ADA) Soon
A crypto enthusiast complained on Twitter that FTX has refused to feature Cardano’s native ADA token among its trading coins, claiming the exchange regards Cardano as a threat to everything it wants to control.
Sam Bankman-Fried, CEO of FTX, said he was prepared to bet ADA would be listed on the platform soon. He added that spot ADA is “on our roadmap.” SBF tweet:
No way, we have mST1XOz1mv Adding spot ADA is on our roadmap — SBF (@SBF FTX) Oct. 23, 2022
Bankman-Fried said the lack of ADA was a practical issue, not a criticism. Before making any modifications, the FTX CEO said, “we still need strong Cardano validator parsing for deposits/withdrawals.”
Does ADA need the listing?
Crypto analytics firm Sentiment has highlighted that ADA is substantially undervalued and that its price has been progressively declining since August 2021.
The listing could bolster the floundering ADA; it’s unclear when FTX will provide support for ADA spot trading, but Bankman-Fried said it could be in three months.
The Merge Has Led to a Dramatic Increase in the Volume of Cryptocurrency Exchanges
Original Source: Crypto exchange volumes surge amid The Merge
According to research, bitcoin exchanges are benefitting from increased trading activity even while prices are falling.
The seven-day daily moving average for cryptocurrency trade volumes rose from $18.1 billion on September 6 to $28.6 billion on September 16.
Trading volume has grown when Ethereum transitions to proof-of-stake. Last week was The Merge transition.
According to data, ETH traders dominated the volume growth on FTX.US, which accounted for 43% of all exchange volume in the last 24 hours.
ETH’s 24-hour price is $1,468.23, a 2.6% gain from the previous day. Over the past month, it’s fallen 20%. The Ethereum 2.0 release is a major advance in crypto. The September Merge would be needed if phase 2 of the PoS migration was successful.
The Beacon Chain began the process in 2020. In phase 3, sharding and other scalability capabilities will be included. This will also reduce the blockchain’s energy usage. The Merge may also encourage “buy the rumor, sell the news” trading.
Ethereum merge is underway. In this case, whales are moving ETH before the cutoff. Ethereum’s move from Proof-of-Work to Proof-of-Stake is called The Merge (PoS). This upgrade merges Ethereum and Beacon chains. This will be one of Ethereum’s biggest modifications since its launch. Recently, the Ethereum Foundation said the Merge may happen sooner than intended.
Mainnet PoS will switch from September 10 to 20. It’ll happen after the Bellatrix update. According to research, top non-exchange Ethereum addresses have reduced ownership.
According to research, the value of Ethereum assets held in non-exchange addresses has dropped 11%. Whale on-exchange address holdings also grew 78%.
Summary of today’s Bitcoin and Cryptocurrency news
Overall, Vitalik Buterin says Ethereum has reached 55% of its potential. If so, Ethereum’s all-time high of almost $5,000 could be the beginning. At $1,350, Ethereum seems like a no-brainer given its long-term value.
In addition, CoinDesk’s XRP price is $0.46009032. Gaining 1.9%. XRP’s market cap is $46.0 billion. XRP’s 24-hour high was $ 0.47 and low was $ 0.44. Since January 1, 2022, XRP has returned 44.08 percent. XRP peaked at $3.40.
Meanwhile, Bankman-Fried said the lack of ADA wasn’t intentional and was a logistical issue. The FTX CEO said the exchange must “ensure good Cardano validator parsing for deposits/withdrawals” before making any changes.
Lastly, according to research, Ethereum assets held in non-exchange addresses have dropped 11%. Meanwhile, whale on-exchange address holdings rose 78%.
