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12 septembrie 2022 / Unchained Daily / Laura Shin

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Bucăți zilnice✍️✍️✍️

• Security firms PeckShield and CertiK a spus that a hacker laundered $500,000 through Tornado Cash.
• FTX Ventures will lua a 30% stake in Anthony Scaramucci-led investment firm SkyBridge Capital.
• The price of LUNA, the token of the Terra blockchain, Trandafir almost 200% since Friday.
• MicroStrategy may vinde $500 million worth of stock to buy Bitcoin.
• Bolt sprijinit off on a $1.5 billion deal with Wyre, a crypto payment provider.
• Ethereum staking yield ar putea be lower than expected after the Merge.
• Vitalik Buterin, the creator of Ethereum, a arătat up at the Kyiv Tech Summit to show support for Ukraine.
• Fundația Algorand raportate a $35 million exposure to troubled crypto lender Hodlnaut.
• The number of NFTs minted on the Solana blockchain atins un maxim din toate timpurile.
• Meta is being împins by senators to fight crypto scams on social media. (Disclosure: I write a Bulletin newsletter.)
• Crypto VC firm Paradigm culcat legal arguments against the US OFAC sanctions on Tornado Cash.

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Astăzi în Crypto Adoption...

• DBS, Singapore’s largest bank, a anunțat a partnership with The Sandbox to create a metaverse experience.

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Colțul $$$...

• Revolving Games, a Web3 game developer, ridicat $25 million in a funding round.
• Community Labs, a software development company and venture studio focused on data storage, închis a $30 million strategic investment.

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Ce este Poppin '?

by Juan Aranovici

Ethereum will transition from proof of work to proof of stake some timp between Wednesday night and Thursday morning, and most likely it will trigger a lot of volatility in the markets.

The Ethereum Merge is one of the most awaited events in crypto history, and its success could mark the beginning of a new era. Some have been arguing that, if it succeeds, it could be the catalyst for the end of this bear market. A successful Merge would strengthen the network’s position as the go-to blockchain for investors and users. As a consequence, since the largest part of DeFi lives on the Ethereum blockchain, many DeFi tokens and protocols will benefit from the Merge.

However, an unsuccessful Merge (which is improbable given the number of successful tests) could crash the crypto markets. Preston Van Loon, Ethereum core developer, talked about whether there is a contingency plan for this situation and the likelihood of the Merge failing on last Friday’s show.

In the past months, crypto prices have been tightly correlated with the stock market, which has been strongly influenced by macroeconomic conditions. Conform to Chainalysis, the Merge might be the trigger for the ETH price to decouple from other cryptocurrencies like BTC because staking makes ETH more similar to a bond or a commodity with a carry premium.

The amount of ETH held on exchanges has been declining over the past year, and according to nod de sticlă, the percentage of ETH exchange balances is near its lows. The low supply on exchanges could mean that prices could rise quickly if there’s increased demand.

În plus, conform de date from The Block, the aggregated open interest for Ethereum futures is on an upward trend. Open interest refers to the total number of futures contracts held by market participants at the end of the trading day, and the rising number reflects positive investor sentiment.

However, another thing to keep an eye out for is the possibility of Ethereum’s proof of work fork. Since not everyone has been on board with Ethereum’s upgrade, some have been pushing for an Ethereum network that keeps the proof of work consensus mechanism. There’s a lot of uncertainty around this issue, and it’s not even clear if the fork will emerge on time. For instance, Coinbase is cerând clarification of the fork chain and its activation.

There are some exchanges that have already listed the ETHPoW token. According to CoinMarketCap, the token is trading at $29, less than 2% of Ethereum.

Though the Merge seems like it could have a large effect on the ETH price, that could be dampened since the Consumer Price Index will be eliberat on Wednesday morning. If the inflation rate continues to be high, it could push the Fed to increase interest rates, which would have negative consequences on all markets, thus muting the impact of the Merge on the price of ETH.

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Citiri recomandate

1. Justin Bons on Bitcoin
2. Pintail on post-Merge MEV
3. Tincho Abbate on Racheta piscină

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Pe pod ...

Preston Van Loon, cofounder and Ethereum core developer at Prysmatic Labs, talks about the Merge, its impact on an environmental level, and why he is a plaintiff in the lawsuit against the Treasury Department over Tornado Cash. Show highlights:

• ce este fuziunea la nivel tehnic și care va fi impactul acesteia
• dacă mecanismul de consens pentru dovada mizei face rețeaua mai descentralizată și mai sigură
• ce se întâmplă dacă fuziunea eșuează și dacă există un plan de urgență
• de ce Preston a fondat Prysmatic Labs și cum funcționează Prysm
• care sunt următorii pași pentru Ethereum și la ce lucrează comunitatea
• dacă Preston crede că o dovadă de lucru Ethereum furk ar avea succes
• când și cum vor fi rezolvate taxele mari și problemele de scalare ale Ethereum
• de ce Preston s-a alăturat procesului împotriva Trezoreriei SUA pentru sancțiunile Tornado Cash
• cum ar sărbători Preston o fuziune Ethereum de succes

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