In a Reddit “ask me anything”, ETH 2 researcher, Justin Drake, cast doubt over whether Ethereum’s highly anticipated Phase 0 can realistically launch this year.
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4chan forum post leads to huge surge in the price of “Special Love Potions” on Ethereum and some unintended consequences.
The Ethereum network is under heavy strain. A combination of increased stablecoin usage, yield farming and a resurgence of ponzi schemes have pushed Ethereum’s capacity to the absolute limit.
Ethereum has seen a new wave of entrants looking to establish their own decentralized prediction markets. Despite being one of the original use cases for the Ethereum network, there has yet to be a dominant player in the space with adoption struggling to take hold.
Tomorrow marks 900 days since Ether traded at its all time high of $1385.02. Today the cryptocurrency rests 80% down from this high, occasionally showing faint signs of life before stalling for the umpteenth time.
For many of the crypto veterans, the recent mania surrounding yield farming has been reminiscent of old times. Transaction fees are through the roof, tokens are skyrocketing to irrational valuations, and now, like clockwork, people are starting to exploit protocols and users amid all the noise.
Hundreds of millions of dollars are funnelling into decentralized finance, bootstrapping the system with liquidity and rewarding users with fees and tokens in the process.
The launch of Compound’s native token – COMP – has led to a resurgence in the platform’s usage.
Tougher regulation and a healthy dose of investor skepticism has meant that Initial Coin Offerings will never again drive the buying frenzy that was seen in 2017/18. But that doesn’t mean something else won’t take it place.
The running theme in recent months is that Ethereum has never been better positioned for a price rally, with fundamental metrics reaching and crossing over into new all time highs.