Market Wrap: Bitcoin Fails to Break $15.9K; Over 50K ETH Staked on Eth 2.0 Co...
Bitcoin’s price closed in on $16,000 before losing steam while over $20 million in ether is already staked for the Ethereum 2.0 upgrade.
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Bitcoin’s price is climbing for the third straight day as more of the cryptocurrency is locked into the Ethereum network.
Since the completion of the Ethereum Merge, sentiment among the community has remained positive. There had been no withdrawal mechanisms coded into the hard fork, which meant that the feared dump of millions of ETH into the market did not happen. What had happened is that the amount of ETH that was being staked on the network had continued to grow, now getting close to another important milestone for the network. Staked ETH Almost At 14 Million By the time the Merge was to be implemented, there had been more than 13 million ETH already staked on the network. This represented more than 11%....
Bitcoin takes a break after record price-setting Sunday while some traders are plowing BTC into ETH.
“Our hope is that cbETH will achieve robust adoption for trade, transfer, and use in DeFi applications,” said the crypto exchange. Coinbase has launched a new asset in which Ether tokens are staked and wrapped through the crypto exchange.In a Wednesday announcement, Coinbase said it will be listing Coinbase Wrapped Staked ETH (cbETH) on the Ethereum network as an ERC-20 token, allowing customers to use their staked Ether (ETH) while earning rewards on the exchange. According to its website, users can withdraw the tokens to Coinbase, stake them, and then wrap the ETH2 into cbETH, with the....
Here is Bitcoinist’s Bitcoin Market Wrap. It is been a relatively quiet week for Bitcoin, market-wise. Bitcoin has only fluctuated a couple percentage points every day, with usually a net difference of 1-3% daily. If we take a look at more traditional investments, 1-3% of the variation is a lot, but for Bitcoin in its current state, that is pretty stable. If we take a look at those same “traditional investments” they are down as well. For example, oil is under $2 per gallon in most states in the US, silver is under $17 an ounce, and gold is down $30 today, same with platinum.