Down and down goes bitcoin price. A resolution of the debt ceiling drama should have boosted the cryptocurrency’s price. But last weekend’s round of profit taking for investors turned out to be a brief respite. As of this writing, the cryptocurrency is changing hands for $26,881.68, unchanged from a day earlier. While the price is… Read More Notes 6/1: Bitcoin Price, LDO Liquidity
When it was launched, the vision for Ethereum was simple. It was to be a smart contract platform with low fees that settled transactions occurring on other applications. That simple vision has transformed into a corporate juggernaut today. Investors and stakeholders use the venue to boost staking rewards and prices for worthless tokens. Examples include… Read More Ethereum’s Latest Bad Idea: Restaking
Lido’s stETH token has a liquidity problem. Lido uses the token to ensure liquidity for staked ether locked at validators. Thus, stETH acts as an ether substitute in transactions on decentralized finance (DeFi) even as the actual token resides inside a staking smart contract. The promise here is that stETH price will mirror that of… Read More Notes 5/24: Lido’s stETH Liquidity Problem
Bitcoin price moved slightly higher on news that Hong Kong’s Securities and Futures Commission (SFC) will begin accepting applications from exchanges to offer cryptocurrency trading to retail investors from June 1 onwards. As of this writing, the cryptocurrency is changing hands at $27,299.15, up 1.2% from its price yesterday. An Asian Bull Run? According to… Read More Notes 5/23: Bitcoin Price and Asian Bull Runs, Ether Deposits
Bitcoin price rallied past the $27,000 mark yesterday morning but is back in the $26,000 range today. As of this writing, the cryptocurrency is changing hands at $26,923, down 1.2% from a day earlier. Amid regulatory crackdowns and investor defections in the United States, there is a sliver of positive news from Asia. CoinDesk reports… Read More Notes 5/19: Bitcoin Price Is Stagnant, Ether Use Cases Dwindle While its Staking Rewards Multiply
Staking platform Lido’s pile of $12 billion worth of ether came online yesterday after the platform commenced staking withdrawals. Lido is Ethereum’s biggest staking platform, accounting for approximately 32% of all staked ether as of this writing. Mass withdrawals from the platform could have had a catastrophic effect on ether price from individuals selling their… Read More Notes 5/16: Lido Begins Withdrawals, Aragon DAO Drama
Bitcoin price is rebounding after last week’s lows. The cryptocurrency fell below $26,000 over the weekend but has recovered sharply. As of this writing, it is changing hands at $27,428.55, up 1.2% from a day earlier. The cryptocurrency’s price action has defied rational explanations in the past and this time is no exception. Choose Your… Read More Notes 5/15: Bitcoin Price Rebounds, Ethereum Staking Reaches Record Levels, and the Magic of Lido
Bitcoin price rose yesterday after the release of positive consumer price inflation (CPI) data and sparked hopes that it was making another bid for the $30,000 mark. But the slight increase in its price turned out to be false narrative. A familiar one of declining prices took over shortly afterwards. As of this writing, the… Read More Notes 5/12: Bitcoin Price, Ethereum Staking, and Withdrawing Ether from Lido
In traditional finance markets, May is typically a month to sell and go away. Translated, this means that traders exit markets and prices drop. Before its trading volumes metastasized, crypto was an uncorrelated asset. It bucked conventional trading wisdom and rose in May for some years and fell in line during the others. With their… Read More Notes 5/2: Bitcoin Price in May, Ether’s Fantastic Yields
One of the few success stories of the debilitating crypto winter this year has been a surge in prices and valuations of tokens for staking platforms. Even as prices for top cryptocurrencies crashed, those for staking platforms have zipped higher on the back of enthusiasm for Ethereum’s Shapella upgrade. The upgrade, which enables investors to… Read More The Future of Liquid Staking Derivative (LSD) Tokens
The first batch of profit-taking from Ethereum’s native token ether’s staking program has ended. Prices for the second largest cryptocurrency by market capitalization rose, briefly pushing past the $2100 mark, after Ethereum’s Shapella upgrade. The upgrade, which enabled withdrawals of staked ether, is the final step in the blockchain’s move to a Proof of Stake… Read More Notes 4/23: Ether Prices and Rewards
After the successful completion of Ethereum’s Shapella upgrade, the percentage of total ether staked on its network has declined to 14.5% from 15.6% earlier. The number of active validators on Ethereum’s blockchain has fallen slightly, by 0.1%, to 562,168, as of this writing, from yesterday. This means that an insignificant percentage of validators have fully… Read More Notes 4/13: Ethereum Unstaking, Ether Prices, and CZ Profile
The Shapella upgrade happening later today is a lucrative event for investors because they will finally be able to unstake their tokens, and associated rewards offered through Ethereum’s staking programs. But investors with staking rewards aren’t the only winners from the event. Investors in Lido, the world’s biggest staking service, are also booking profits. The… Read More What Does The Future Hold For Ethereum’s Biggest Staking Service?
Ether prices should be pumping this week in anticipation of the Shapella upgrade occurring on April 12. The upgrade, which makes it possible for investors to unstake their tokens, is supposed to catalyze prices by enabling investors to sell their ether or stake it, once again, on the cryptocurrency’s network. But the expected price bump… Read More Notes 4/10: Ether Capital