Ethereum’s Layer 2 TVL Nears $30 Billion as ETH-Related Tokens Surge
Ethereum's price approaches $3,300 amidst significant growth in its DeFi ecosystem as the market looks ahead to its upcoming Dencun
Ethereum is a blockchain-based platform that allows developers to build decentralized applications (dApps) using smart contracts.
These are computer codes that facilitate the exchange of money, property, shares, content, or anything that has value. It’s pre-programmed and predefined, meaning that once the trigger conditions are executed, the result manifests automatically.
Ethereum has a native cryptocurrency, which is called Ether (ETH). ETH is currently the second-largest cryptocurrency by market cap.
The project’s whitepaper was published back in 2013 by Vitalik Buterin, Ethereum’s Co-Founder. In January 2014, Ethereum began the official development of the platform. A few months later, in August, the team managed to raise $18.4 million through a token sale. The ETH token was released during the summer of 2015.
Like Bitcoin, Ethereum was initially developed to work using the Proof-of-Work (PoW) consensus algorithm. However, the team is working to transition to Proof-of-Stake, which is supposed to take place in 2020.
Ethereum's price approaches $3,300 amidst significant growth in its DeFi ecosystem as the market looks ahead to its upcoming Dencun
Rasmussen noted that the Ethereum ETF anticipation and the upcoming March Dencun upgrade are impacting ETH's performance.
Ethereum layer-2 network Blast has reached a new milestone in terms of total value locked and it has yet to
Bloomberg's James Seyffart also notes that the SEC may approve Ethereum ETF faster, leveraging Bitcoin's regulatory groundwork.
Ethereum prices are at their highest levels since April 2022 with the asset reclaiming the psychological $3,000 level again.Â
ETH hit its highest price in almost two years, XRP was predicted to rise in the near future, while Shiba
MicroStrategy's X account was hacked to promote a fake Ethereum-based token and airdrop, leading to the loss of over $400,000
Check out in which nations XRP is more popular than ETH (in terms of Google searches).
The firm may add other cryptos to its treasury in the future if regulators determine that they are not securities.
The VC firm makes another major investment in an emerging crypto protocol, which brings Ethereum’s economic security to layer 2.