Ethereum Updates

Summary: The top 10 Ethereum whales have been moving their ETH from exchanges to non-custodial wallets Exchanges have seen a 20.5% decrease in ETH for the past 2 months The movement of Ethereum out of exchanges is proof that whales and retail investors are confident regarding ETH’s long term value The price of Ethereum has

Quick take: The amount of ETH and BTC locked in DeFi currently stands at $4.78 Billion This amount represents 43% of the total value locked in DeFi The number of ETH locked in DeFi has increased by 194% in 2020 The number of BTC locked in DeFi has increased by 10,000% The hype surrounding DeFi

Summary: Social media platforms such as Twitter, Reddit and Telegram can be used to gauge investor and trader sentiment in the crypto-verse According to the latest quarterly report by eToro, Ethereum’s Tweet volume surged by 54% due to DeFi Similarly, Tron experienced a 228% Twitter growth due to DeFi However, Bitcoin still dominated in Q3

Quick take: Grayscale currently manages a total of $6.3 Billion in digital assets Its Ethereum trust is worth $869.7 Million This figure is approximately 2% of Ethereum’s market cap indicating Grayscale holds a similar percentage of ETH’s circulating supply The team at Weiss Ratings predicts an 18% spike in Ethereum’s value once ETH2.0 is released

Quick take: Tradingview has added charts for trading pairs on the Uniswap protocol Typing ‘UNISWAP:’ into the Tradingview search box populates the top 100 symbols by Liquidity Uniswap continues to dominate the Decentralized Exchange industry Traders and investors using the UniSwap Protocol can now chart their favorite trading pairs on TradingView. Users of TradingView need

Summary: The number of unique Ethereum daily addresses interacting with the ETH network has continued to decline since July The decline has accelerated since mid-September Back in August, Crypto analyst Timothy Peterson had predicted that Ethereum’s network activity was in a decline and could lead to ETH losing half its value The number of daily

Summary: Ethereum continues to dominate the DeFi ecosystem In Q3 2020, Ethereum held 96% of DeFi’s total transaction volume Dapps that account for the majority of the total transaction volume were Uniswap, MarkerDay and Curve The team at DappRadar has released Q3’s Decentralized Finance Report in which they analyze Dapp activity on the several blockchains

In summary: The top 5 NFT marketplaces on Ethereum have surpassed a 24-hour trade volume of $1 Million Such a high trade volume was usually reached after a week of NFT trading NFTs (Non-Fungible Tokens) are gaining popularity in an era of digital ownership As Bitcoin and Ethereum continue on their bullish climb towards $11k

Quick take: The team at Bloomberg has predicted that Ethereum could lose the number 2 spot to Tether (USDT) by next year Increasing demand and adoption of stablecoins is the major force behind Tether’s rise Stablecoins are a precursor of CBDCs and will most likely be more enduring than altcoins Ethereum has had a relatively

Quick take: Popular DeFi tokens such as YFI, COMP, SUSHI and CRV are down by over 60% since their all-time high values DeFi tokens continue to correct due to the current crypto market environment The overall market cap of DeFi related digital assets has dropped by 25% in the last 24 hours Trading volume in

Quick take: Ethereum’s mean hash rate has hit a new all-time high of 250 Terahash per second Ethereum’s hash rate has grown by 80% since the beginning of the year This is as a result of increased interest in DeFi MetaMask also hit a new milestone of 1 Million monthly active users thanks to DeFi

In summary: The Filecoin Mainnet will launch at epoch 148,888 estimated to occur on October 15th ConsenSys Codefi has added support for Filecoin to accelerate the adoption of the Network This will be by enabling users with hosting needs to find the best storage prices from reputable miners Additionally, the DeFi bridge by Codefi will

Quick take: DappRadar has released its Q3 DApp Industry Report Ethereum’s transaction volume grew by $109 Billion in Q3 when compared to Q2 Ethereum continues to dominate as the blockchain with the most DApp activity The team at DappRadar has released the Q3 Dapp Industry report which analyses the performance of 13 blockchains in the

Quick take: The average number of daily active Ethereum addresses has risen from 338,375 to 389,947 in the past 12 days During this time period, Ethereum’s network has grown by 13.2% The increased network activity is one reason Ethereum has its eyes set at $400 The month of October kicked off on a good note

Quick summary: The popularity of DeFi and Decentralized Exchanges since June 2020, has led to Ethereum experiencing high ETH fees Miners are reaping big from these Ethereum transactions thus attracting new miners to the network The value of Ethereum will continue to benefit positively from the demand to pay transactions with ETH The team at

Quick take: Multiple Ethereum based projects affected by the KuCoin have intervened Some have frozen their ERC20 tokens with others initiating hardforks  The KuCoin hack amount has increased to $203 Million and could continue climbing Almost immediately after the KuCoin hack, the team at Tether announced that it had frozen a total of $33 Million