Ethereum Weekly (2/24/23)
Ethereum Weekly - Edition 12
Welcome to the latest edition of Ethereum Weekly!
Ethereum (ETH) had a sideways week on low volatility gaining $5 week-over-week as it awaited the release of the consumer sentiment data in the US. The report, released by the University of Michigan, was expected to show increasing confidence despite ongoing inflationary concerns.
Today the release of the core personal consumption expenditures price index rose 0.6% in January and 4.7% from the prior year. These figures were well above economists’ expectations which drove the markets lower to close the week. Ethereum fell about $50 almost immediately, reacting the same to the data as most assets. The Dow fell almost 3% for the week, its worst performance of the year so far, with the S&P 500 down 2.7%. As stocks go, so does crypto.
The latest figures could suggest that the Fed will, after all, keep raising interest rates, and therein lies the problem. A continued policy of tightening by Jerome Powell and company is bad news for most investors. Add this to growing regulatory concerns over staking crypto, and Ethereum could be in for choppy waters to close out the quarter.
The Crypto Greed and Fear Index highlighted below sits at 53 in the "Neutral" range and down 18 points from where it was at last week.
Ten Must-Read Ethereum and Altcoin Articles This Week
The SEC’s Crackdown on Ethereum Staking Has a Silver Lining (CoinDesk)
Coinbase new blockchain seen as ‘massive confidence vote’ for Ethereum (Cointelegraph)
What Investors Should Look Out For Ahead Of Ethereum Shanghai Upgrade (Bitcoinist)
Ethereum Shapella upgrade gets new date, making way for un-staking ETH (Cointelegraph)
What the Ethereum Shanghai Upgrade Will Mean for ETH Liquidity (CoinDesk)
This Ethereum Layer-2 is on Fire – Here's What That Means (Crypto News)
Thinking of Buying Solana? Buy Ethereum Instead (The Motley Fool)
'Stupid money' Ether investor loses over $2M in six months — 3 lessons to learn (Cointelegraph)
Why Ethereum Dominance Could Be In “Grave” Danger (Bitcoinist)
Ethereum Price Statistics (as of 2/23/2023, daily close)
Ethereum Price = $1,650
Last Week =$1,645
Weekly High = $1,664
Weekly Low = $1,635
Market Cap = $197,104,057,893
Market Cap Dominance =17.342%
All-Time High = $4,878.26 on November 10, 2021
statistics provided by CoinGeckoEthereum Fun Fact of the Week
Ethereum was formed in 2016 after the Ethereum DAO was hacked and about one-third of DAO funds were transferred to a different wallet. Holders who didn't make the move held their ETH on the original chain which is Ethereum Classic.
Ethereum Staking Statistics
Validators = 525,506
Block Time = 12.09 seconds
Staking Ratio = 14.6%
Total Supply = 122,373,866
statistics provided by StakingRewards
Crypto Fear & Greed Index
index provided by Alternative
What is Ethereum?
Ethereum (ETH) is a digital cryptocurrency that is known for being a blockchain technology that operates decentralized apps (dapps) such as decentralized finance (DeFi), non-fungible tokens (NFTs), stablecoins, lending, and more. First proposed by Vitalik Buterin who published a whitepaper in 2013 and went live as a network in July 2015, Ethereum claims it is not controlled by a centralized authority but that can be questioned. Ethereum went through the "merge" in 2022 moving from a proof-of-work to a proof-of-stake mechanism becoming much more environmentally friendly.
For more on Ethereum, please read the Top Things You Should Know About Ethereum (ETH) on Publish0x written by MuyAsk
For more on the Ethereum Whitepaper, please read the I Finally Read the Ethereum Whitepaper on Publish0x written by CryptoMasterMiner
Find Ethereum on Ethereum.org, Reddit, Twitter, Instagram, Facebook
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Thank you for reading Ethereum Weekly!
Resources
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