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%....
“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....
Bitcoin takes a break after record price-setting Sunday while some traders are plowing BTC into ETH.
While Cardano and Polkadot are extending their staking dominance, Tezos has plummeted from the top ten by staked capitalization. The stakes have been upped for Cardano and Polkadot, with the two networks continuing to dominate the staked capitalization rankings.According to data from StakingRewards, Cardano is currently the top blockchain in terms of staked value, with roughly $26.4 billion worth of ADA allocated to securing the network. With Cardano’s entire capitalization tagging $36.6 billion, 73% of circulating ADA are being staked.StakingRewards estimates Cardano stakers are earning....