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Information about Ethereum (ETH)
Ethereum is a decentralized open-source blockchain system that features its own cryptocurrency, Ether. ETH works as a platform for numerous other cryptocurrencies, as well as for the execution of decentralized smart contracts.
Ethereum was first described in a 2013 whitepaper by Vitalik Buterin. Buterin, along with other co-founders, secured funding for the project in an online public crowd sale in the summer of 2014. The project team managed to raise $18.3 million in Bitcoin, and Ethereum’s price in the Initial Coin Offering (ICO) was $0.311, with over 60 million Ether sold. Taking Ethereum’s price now, this puts the return on investment (ROI) at an annualized rate of over 270%, essentially almost quadrupling your investment every year since the summer of 2014.
The Ethereum Foundation officially launched the blockchain on July 30, 2015, under the prototype codenamed “Frontier.” Since then, there has been several network updates — “Constantinople” on Feb. 28, 2019, “Istanbul” on Dec. 8, 2019, “Muir Glacier” on Jan. 2, 2020, “Berlin” on April 14, 2021, and most recently on Aug. 5, 2021, the “London” hard fork.
Ethereum’s own purported goal is to become a global platform for decentralized applications, allowing users from all over the world to write and run software that is resistant to censorship, downtime and fraud.
News
Keith O’Brien, while working at Rippling, took $5,000 in Ethereum per month to provide Deel with sensitive insights about Rippling’s business strategies.
O’Brien mentioned that Deel’s CEO, Alex Bouaziz, encouraged him to act as a ‘spy’ akin to James Bond, promoting the corporate espionage.
Before confessing, O’Brien destroyed evidence and contemplated fleeing to Dubai when faced with legal scrutiny regarding his activities.
Scheduled for May 7, 2025, Ethereum’s Pectra upgrade addresses prior testnet issues, promising improved scalability and flexibility in transaction fee payments with multiple tokens alongside ETH.
The upgrade will significantly increase validator staking limits and introduce account abstraction, allowing users to settle gas fees with stablecoins in addition to ETH.
Ethereum’s recent price struggles were marked by decreased network activity and a notable increase in supply. Experts highlight that the current inflation rate of 0.73% is not a major concern, signaling a focus on market sentiment and macro trends rather than short-term fluctuations in supply and transactions.
Despite March’s challenges, the upcoming month for ETH may hinge on broader market developments rather than immediate supply changes. Analyst Gabriel Halm emphasizes the importance of network activity and macroeconomic factors in determining Ethereum’s trajectory this April.
Ethereum (ETH) is under pressure, with forecasts suggesting a 15% drop to 1,500 USD if it breaches the support level of 1,770 USD. Intraday traders are predominantly shorting ETH, indicating strong bearish sentiment.
The recent U.S. Tariffs have negatively impacted cryptocurrencies. A crypto whale recently withdrew 2,774 ETH, suggesting opportunistic accumulation despite the bearish market outlook.
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