Ethereum News by Thebittimes.Com

The Mumu the Bull price has soared 16% in the past 24 hours to trade for $0.000009509 as of 08:00 a.m. EST. It comes after a steep downtrend, with token holders lauding the reversal after arguing that the correction had been a ‘buy the dip’ opportunity. FOR EVERYONE IN THE BACK, Dips are for buying not crying $MUMU #MUMUSOL BE BRAVE, BE A BULL. Stay bullish my friends @mumu_bull pic.twitter.com/okv8UZ4FRG — wavesnstuff (@wavesnstuff) April 22, 2024 Despite the surge, the altcoin is facing resistance due to a descending trendline, which has capped the altcoin’s upside potential since around mid-March. At the bottom, however, MUMU enjoys solid support offered by the horizontal line at $0.000004761. The outlook shows a falling wedge pattern, and as this technical formation fills up, the MUMU price may be due for a breakout. For the layperson, a falling wedge pattern is a bullish chart pattern characterized by a series of lower highs and lower lows convergi...

The US pressing sanctions on developing countries is making them cut ties with the dollar and look for alternative avenues. BRICS is filling in the void and helping other developing nations to survive without using the US dollar for trade. Sanctions might prove costly to the US as the world is looking at de-dollarization to strengthen its local currencies and native economies. Also Read: What De-Dollarization? US Dollar Bulldozes BRICS Currencies On the heels of de-dollarization and sanctions, a new country has officially ditched the US dollar for oil trade. The decision comes straight from the BRICS playbook of using local currencies for cross-border transactions and not the US dollar. Read here to know how many sectors in the US will be affected if BRICS ditches the dollar for trade. Also Read: BRICS : India Accused of Dumping US Dollars To Keep Rupee From Falling BRICS: Venezuela Ditches the US Dollar For Oil Trade Source: M...

The Bitcoin Market reached a new peak, soaring to $70,199 on the Coinbase exchange, marking a significant achievement. This uptick demonstrates that buyers are currently dominating the market. However, the inability to keep the price above $70,000 reveals that at every new high, there’s resistance, indicating sellers are taking advantage of these levels to sell off. The price jump was accompanied by an increase in Bitcoin’s spot trading volume, highlighting renewed interest from retail investors. On March 5, the daily spot trading volume for Bitcoin escalated to $46.26 billion across centralised exchanges, the most substantial figure seen in the past year. Following this uptrend, it appears some investors are inclined to secure their gains. According to Glassnode, there’s been an uptick in Bitcoin being moved to Coinbase, nearing the highs observed in 2022, suggesting a potential readiness among some to sell. Daily cryptocurrency market performance. S...

The winds of change are swirling around Ethereum (ETH), the world’s second-largest cryptocurrency. While the Ethereum network itself is buzzing with activity, the price of ETH has taken a tumble in recent days, leaving investors scratching their heads. Related Reading: All Quiet On The Bitcoin ETF Front – Should You Be Paranoid? A glimmer of hope emerged with Tether’s (USDT) recent movement. Tether, the issuer of the world’s most popular stablecoin pegged to the US dollar, transferred a whopping $318 million worth of USDT from its treasury wallet directly to exchanges on the Ethereum network. Source: X This outflow suggests potential anticipation of increased demand for USDT, which could, in turn, signal rising investor interest in the broader cryptocurrency market. Historically, Tether has mint...

In a groundbreaking move, the Omni Network has clinched a $600 million deal with Ether.Fi promises to redefine the landscape of decentralised finance (DeFi) and blockchain interoperability. This partnership, leveraging the restaking capabilities of EigenLayer , not only aims to fortify the security and efficiency of the Omni Network but also marks a significant step towards a more secure, scalable, and interconnected Ethereum ecosystem . Enhancing Network Security Through Collaboration Omni is proud to announce a commitment of $600M of staked ETH from @ether_fi to secure the Omni Network. This first-of-its-kind deal positions us at the forefront of the growing restaking ecosystem. pic.twitter.com/dbjgMBqaS8 — Omni Network (@OmniFDN) March 4, 2024 The collaboration between Omni Network and Ether.Fi , underpinned by a substantial $600 million worth of Ether, is set to bolster the security mechanisms of both networks. By reallocating these funds to Eigen...

Network fees on Bitcoin (BTC) have plummeted just days after reaching a record daily average of $128 during the fourth Bitcoin halving on April 20. Bitcoin’s average fee for a medium-priority transaction stands between $9 and $10 as of April 22, according to mempool.space . Bitcoin Fees Top Ethereum’s Gas Costs Leading up to the halving , network fees on Bitcoin soared to over 24 times that of Ethereum (ETH). The Bitcoin network also clocked approximately $78.3 million in fees during the halving, shows Crypto Fees . During this same period, an eye-watering 37.7 Bitcoin worth $2.4 million was paid to the Bitcoin miner ViaBTC at block height 840,000. This led to block 840,000 becoming the most sought-after block in Bitcoin’s 15-year history. Meme coins and non-fungible tokens (NFTs) were responsible for the majority of the demand at block 840,000. Enthusiasts competed to inscribe rare satoshis on the network via the Runes protocol, which is a new token standard tha...

With Bitcoin finally completing its fourth-year halving cycle, many users are aggressively competing for halving blocks, paying exorbitant amounts of fees to mine a single block.  Bitcoin Mining Pool Pays Over $2.4 Million In Block Fees Earlier today, the 840,000th block was added to the Bitcoin blockchain, triggering the onslaught of the highly anticipated halving event . While the price of BTC did not witness a dramatic change following the halving, transaction fees spiked to unprecedented highs.  Related Reading: Ripple CEO Walks Back $5 Trillion Crypto Marker Prediction, Unveils New Target Amidst the massive competition, a mining pool identified as ViaBTC had successfully mined the 840,000th Bitcoin block. Cumulatively, BTC users had spent a staggering $37.7 BTC in mining fees, equivalent to $2.4 million, recording the highest fee ever paid for a Bitcoin block.  ...