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ETH – Ethereum

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May 2022

Ethereum passes US$2,000 mark as crypto market rises

Ethereum gained over 10% in 24 hours to reach US$2,000 on Tuesday morning in Asia after spending the better part of a week below the mark. Ethereum was trading at US$1,985 at press time. See related article: Bitcoin, Ethereum, crypto at 2022’s lowest point Fast facts The world’s second-largest cryptocurrency hit a low of US$1,721 […]

Iagon’s Ethereum-Cardano bridge launches for USDC transfers

The world’s second-largest stablecoin USDC and ERC-20 IAG tokens can now be bridged from Ethereum to the Cardano network through Iagon’s cross-chain bridge powered by the Milkomeda sidechain. See related article: Wormhole to bridge Polkadot, Kusama to Ethereum, Solana Fast facts A cross-chain bridge allows for crypto assets of one blockchain to be converted for […]

Chinese stock image agency VCG tests NFT marketplace

Visual China Group (VCG), China’s largest stock image provider, has started a non-fungible token (NFT) marketplace that lets users outside of mainland China pay with Ether. See related article: China’s diktat against NFT flipping spawns an ingenious industry Fast facts The platform, dubbed “Vault by 500px,” went live with a beta version on Wednesday, and […]

China’s BSN to launch overseas public chain without crypto support

China’s state-backed infrastructure Blockchain-based Service Network (BSN) announced on Tuesday that it is preparing the launch of BSN Spartan on Aug. 31, a new international network for non-cryptocurrency public chains. See related article: Resist the temptation on NFTs, Chinese state-backed developer says Fast facts “We’re not against public chains, but we’re against crypto,” BSN developer […]

Bitcoin, crypto drop as stocks slump in the US

Bitcoin’s increasing correlation with risk assets meant it got caught up in the overnight market selloff in the U.S. Investors dumped shares of Target and Walmart after the American retailers cautioned about possibly taking a margin hit from not being able to pass on price increases to customers. See related article: Has Bitcoin become a […]

OpenSea delists Solana Okay Bears knockoff Not Okay Bears

Solana-based non-fungible token (NFT) collection Okay Bears copycat “Not Okay Bears” has been delisted from marketplace OpenSea after recording millions of dollars in sales. See related article: Okay Bears NFTs record sellout helps Solana net US$2B in sales Fast facts Not Okay Bears are mirror images of the 10,000 versions of the original, and have […]

Terra’s LUNA sacrifice; Australian crypto ETFs launch

Terra’s sacrifice of LUNA pushes the UST up to US$0.84. Meanwhile, South Korea plans the institutionalization of crypto.

Bitcoin, Ethereum, crypto at 2022’s lowest point

Bitcoin’s price has dipped to its lowest point since December 2020 amidst bearish cryptocurrency market sentiments to trade at US$28,652, according to CoinMarketCap data at press time. See related article: Terra LUNA’s sacrifice pushes UST to US$0.84 Fast facts The crypto bear run extended on Thursday, as China’s inflation rose by 1.5% in April from […]

How Yuga Labs’ NFT sale failed to put its community first

The ‘virtual land’ sale that broke Ethereum was also a fiasco for buyers. Should Yuga Labs have seen it coming and taken preventative action?

Australia’s first Bitcoin and Ethereum spot ETFs go live

Australia’s first three cryptocurrency exchange-traded funds (ETF) launched on the Cboe exchange on Thursday, bringing Bitcoin and Ethereum products to the stock market. See related article: Launch of three crypto ETFs in Australia delayed Fast facts One of the funds, the Cosmos Purpose Bitcoin Access ETF (CBTC) from Cosmos Asset Management, tracks the Purpose Bitcoin […]

Three Australian crypto ETFs to debut on Thursday after delays

Australia’s first cryptocurrency exchange-traded funds (ETFs) are set to go live on Thursday May 12 on the country’s Cboe exchange after delays kept the financial products off the market for two weeks. See related article: Launch of three crypto ETFs in Australia delayed Fast facts Three funds were initially announced for listing in late April […]

UST loses dollar peg as Terra market cap slumps

Terra’s dollar-pegged stablecoin, terraUSD (UST), “depegged” for the second time this week, dropping to as low as US$0.6841 in Tuesday morning trading in Asia, according to CoinMarketCap. It has since recovered slightly. See related article: What are stablecoins, and why are some governments so afraid of them? Fast facts Terra’s price also dropped by over […]

DeFi TVL lowest since October, Terra leads losses

The total value locked (TVL) in decentralized finance (DeFi) protocols has dropped from US$217.82 billion to US$179.5 billion in the past 30 days, reaching its lowest point since October 2021, according to DefiLlama data. See related article: DeFi wizard Cronje’s departure sends TVL sinking Fast facts Terra’s Anchor Protocol played a significant role by dropping […]

Bitcoin, crypto market dive to lowest mark since February

Almost US$250 billion has been wiped from the cryptocurrency market since Thursday, with Bitcoin tumbling below US$35,000 on Monday for the first time since February. See related article: Bitcoin falls with Nasdaq’s worst performance since 2020 Fast facts Fellow market leader Ethereum was trading at US$2,532 at press time. Terra LUNA was among the biggest […]

Bitcoin falls with Nasdaq’s worst performance since 2020

The Nasdaq Composite had its worst drop since June 2020, closing Thursday down 4.99% the day after the U.S. Federal Reserve announced the sharpest interest rate hike since 2000. See related article: Bitcoin flirts with US$40K as Fed stamps highest rate hike in 22 years Fast facts The cryptocurrency market joined the selloff, losing over […]

Otherdeeds NFT sale puts Ethereum scalability in glaring spotlight

Top blockchain and crypto news: Otherdeeds debacle stings with gas fee spike. Algorand scores World Cup deal. Will China be forced to embrace Bitcoin?

Ethereum’s year-end price outlook lowered

A panel of 36 industry experts revised down the year-end price target set for the world’s second-largest cryptocurrency by more than 11%, according to a report by Finder, an Australian fintech. See related article: Ethereum price expected to hit $7,609 in 2022: report Fast facts Ethereum’s price is expected to rise to US$5,783 by the […]

Yuga Labs Otherside NFTs top US$285 mln; over US$175 mln in ETH gas guzzled

Yuga Labs’ long-awaited metaverse project Otherside debuted on Saturday in a non-fungible token (NFT) land sale to generate US$285 million but also clogged the Ethereum network to cost investors millions in gas fees. See relates article: Bored Apes creator to launch new metaverse ‘Otherside’ Fast facts Traders snapped up a limited supply of 55,000 “Otherdeeds” […]

April 2022

Ethereum’s revenue falls by 44% as average gas fee drops 88% on quarter: Q1 report

Ethereum’s network revenue from gas fees totaled US$2.4 billion in the first quarter of 2022, down 44% from US$4.34 billion in Q4 2021, while 87% of the revenue, or around US$2.1 billion worth of ETH tokens, were burned, according to Bankless’ Q1 report of the blockchain. See related article: Amount of Ether burnt since EIP […]

Okay Bears NFTs record sellout helps Solana net US$2B in sales

A record sellout of Okay Bears NFTs helped Solana emerge as a viable alternative to Ethereum, the preferred platform for most NFTs.

More than US$500 mln of crypto longs liquidated so far this week

At least US$516 million worth of long positions in cryptocurrencies have been liquidated this week, according to data from Coinglass. See related article: Bitcoin long positions worth $1.5 billion liquidated amid crypto crash Fast facts The crypto liquidation comes as the Nasdaq closed at its lowest since late 2020. Bitcoin accounted for more than US$142 […]

A fast one from down under: Australia approves BTC, ETH ETFs

While the cryptocurrency industry continues to wait with bated breath for a spot-traded Bitcoin exchange-traded fund (ETF) to be approved in the U.S., three separate crypto funds were given the green light in Australia this week.  Australia’s ETFS Management (AUS) Ltd., or ETF Securities, launched a Bitcoin and an Ethereum fund, in partnership with Switzerland-based […]

Coinbase’s NFT market enters beta for select customers

Coinbase’s non-fungible token (NFT) platform launched its beta version for select customers on Wednesday. See related article: Coinbase and Binance move to diversify; Stablecoins under scrutiny Fast facts Only a few customers of the three million on the waitlist can access the beta market, but it is also open for public view. The beta platform […]

Australia to list crypto spot ETFs; WazirX founders leave India

Bitcoin and Ethereum ETFs are coming to Australia. Meanwhile, Dogecoin Day has fans hyped.

Bitcoin and Ethereum spot ETFs landing in Australia next week

Australia’s mass retail appetite for cryptocurrency is about to be tested as two Bitcoin and one Ethereum spot exchange-traded funds (ETFs) have been approved for listing. See related article: New Australian ETF grants exposure to Bitcoin mining sector Fast facts All three ETFs are set to go live on Cboe (formally Chi-X) Exchange on April […]

Virgil Griffith jailed; Indian exchanges disable UPI

Welcome to The Daily Forkast – April 13, 2022 – Presented by Megha Chaddah. Coming up on today’s show: Former Ethereum developer Virgil Griffith gets 63 months in prison. Coinbase snafu sets cat among the crypto pigeons in India. Huawei becomes latest of China’s tech giants to issue NFTs.  We’ll have more on those stories […]

Bitcoin follows blue chips south amid market turmoil

Top blockchain and crypto news: Market contagion hits crypto. Ethereum developer pays price for bad Korea move. China whacks more crypto miners.

Former Ethereum developer Virgil Griffith gets 63 months in prison

Former Ethereum developer Virgil Griffith was sentenced to prison and fined US$100,000 for violating international sanctions against North Korea by speaking at a cryptocurrency conference in the Hermit Kingdom in April 2019. See related article: North Korea hacked US$400M of crypto in 2021, says Chainalysis Fast facts At the conference, Griffith explained blockchain technology’s use […]

Cryptos slump over inflation, Shanghai lockdown and war concerns

Bitcoin and Ethereum were down more than 5% each in Asian trading hours as cryptocurrency markets slumped in lockstep with traditional assets.

Ethereum PoS move is now being tested on a mainnet shadow fork

A shadow fork of the Ethereum mainnet went live on Tuesday, bringing it a step closer to the transition from proof of work (PoW) to a proof-of-stake (PoS) consensus mechanism for the Ethereum 2.0 upgrade. See related article: Can Ethereum’s proof-of-stake transition save the planet? Fast facts The Ethereum Foundation is currently working on a […]

March 2022

Wormhole to bridge Polkadot, Kusama to Ethereum, Solana

Polkadot parachain Acala and its Kusama-based counterpart Karura are integrating with cross-chain bridge Wormhole, bridging its decentralized finance (DeFi) ecosystems with eight major Layer 1 blockchains.  See related article: Polkadot is top crypto held by VCs and hedge funds in Q4 2021 Fast facts The Wormhole integration will bridge Acala and Karura to Ethereum, Solana, […]

Can Ethereum’s proof-of-stake transition save the planet?

Ethereum’s transition to proof-of-stake promises to dramatically lower energy consumption, curbing greenhouse gas emissions that would require an annual offset by a forest roughly the size of Belgium.

Axie Infinity blockchain Ronin hacked for over $600M

Ethereum sidechain Ronin, where play-to-earn blockchain game Axie Infinity runs, has been hacked for over US$600 million in crypto, making it one of the biggest hacks in crypto history. See related article: Axie Infinity becomes first NFT series to break $4B in sales Fast facts Ronin said the hacker compromised four of their own validator […]

Ukraine’s NFT museum of Russian conflict goes live

Ukraine’s Ministry of Digital Transformation launched the Meta History Museum of War on Friday, a museum hosted on the Ethereum and Polygon networks that chronicles the country’s war with Russia through non-fungible tokens (NFTs). See related article: Zelenskyy legalizes cryptocurrency in Ukraine Fast facts “Disinformation is used by Russia on a par with deadly military […]

Bitcoin, crypto market on the rise along with global markets

Volatility has been the name of the game in the past few months, but experts tell Forkast that may be coming to an end.

Ethereum Classic surges on 79% weekly rally

Ethereum Classic (ETC) is leading the crypto market’s weekly rally by gaining 79.2% over the past seven days, a time frame in which all but five non-stable tokens in the top 100 by market cap landed in the green.  See related article: How Ethereum Classic’s 51% attacks reveal risks to Bitcoin and Ethereum Fast facts […]

The Flippening: When will Ethereum overtake Bitcoin?

Ethereum’s market value passing up Bitcoin’s may not be a matter of if, but when. Dr. Kosrow Dehnad and Joe Duncan offer a predictive model.
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Ethereum moves closer to proof-of-stake after Kiln 

Ethereum’s merge on the Kiln testnet on Wednesday was a success, as the blockchain passed the final public test before its highly anticipated transition from a proof-of-work (PoW) consensus mechanism to proof-of-stake (PoS), which is expected to happen by the end of Q2, 2022. See related article: The best of Ethereum 2.0 is yet to […]

ConsenSys raises $450M in Series D, raises valuation to $7B

Ethereum software developer ConsenSys announced on Tuesday it has raised US$450 million in Series D funding, bringing its valuation to US$7 billion. See related article: New Cosmos, Mastercard projects to boost Ethereum scalability Fast facts The latest funding round was led by ParaFi Capital, with investors including Temasek, SoftBank Vision Fund 2 and Microsoft. The […]

Which altcoins will take center stage in 2022?

Investors believe Bitcoin will stand its ground this year but in the altcoins world, some rising stars are brimming with potential.

Russian accounts frozen in Korea; China’s Two Sessions beckons

Crypto donations on the rise for Ukraine as Russian aggression continues. Meanwhile in Asia, China’s Two Session’s are set to begin – could Ukraine and crypto be a part of the agenda?

Bitcoin shores up Ukraine fighters amid Moscow’s money meltdown

Top blockchain and crypto news: Digital currency battling Russian invasion. Ethereum remains NFT projects’ chain of choice. China to lock up crypto traders.

Nvidia hackers threaten to unleash Ethereum mining limiter disabler

The ransomware outfit behind Nvidia’s data breach last week is looking to sell what it claims to be a driver that unlocks Ethereum mining limitations on the chipmaker’s graphic cards. See related article: China customs seizes 49 second-hand crypto mining rigs for export Fast facts The hacker group Lapsus$ allegedly stole 1TB of data from […]

Russian ruble plunges; Ukraine DAO aids civilians

Sanctions on Russia have prompted a resurgence in the Crypto market as the Russian ruble takes a nosedive. And as the attack on Ukraine continues, a decentralized autonomous organization is created to support Ukrainian civilians who have joined military efforts.

February 2022

Will Bitcoin and Ethereum make a comeback in 2022?

Russia’s war on Ukraine is battering crypto prices, but what does the more distant future hold for BTC and ETH? Fintech experts offer predictions.

Ethereum reaches 1 million NFT buyers as gas fees sink

The total number of unique non-fungible token (NFT) buyers on the Ethereum blockchain crossed the 1 million customers milestone on Sunday as the network’s gas fees slid to its lowest since August.  See related article: Ethereum price expected to hit $7,609 in 2022: report Fast facts NFT sales on Ethereum increased by 36.06% in the […]

Top NFT game Axie Infinity generated $1.3B in revenue last year

Top non-fungible token (NFT) game Axie Infinity generated US$1.3 billion in revenue over the past year, reaching a daily peak of US$17.5 million on Aug. 6, 2021, according to a new report from blockchain analytics firm Nansen. See related article: Axie Infinity becomes first NFT series to break $4B in sales Fast facts Axie Infinity […]

Jump in NFT demand reflects crypto prices, right? Wrong

An asset bought and valued in crypto becomes decoupled from crypto prices, a split that reflects the differences between crypto investors and NFT buyers.

LooksRare trails OpenSea in sales volume as developers cash out $30M

Trading volumes on non-fungible token (NFT) marketplace LooksRare dropped by more than half its daily volume since developers withdrew roughly US$30 million of its native LOOKS token and cashed out in wrapped Ether (wETH) Fast facts LooksRare was averaging daily sales volumes of around US$550 million but fell more than 50% overnight in early February […]

OpenSea CEO: $1.7M phishing not from the NFT marketplace

OpenSea CEO Devin Finzer has responded to an apparent phishing scam that targeted its users in a US$1.7 million theft of popular non-fungible tokens (NFTs) such as Bored Ape Yacht Club and Azuki.  Fast facts “As far as we can tell, this is a phishing attack. We don’t believe it’s connected to the OpenSea website. […]

Crypto market rebound is short-lived as Russia tensions loom

Investor relief at last week’s slight market rebound gave way to concerns over military tensions in Ukraine, sending crypto and traditional markets reeling.

Bitcoin leads market-wide downturn as Russia fears rise

Bitcoin led a market-wide sell-off Thursday night Asia time by losing almost 8% coming into business hours Friday Asia time, and was trading at US$40,578 at press time. See related article: Is Bitcoin’s rocky start to 2022 a sign of things to come? Fast facts All other major tokens were down around the same amount, […]

Ethereum price expected to hit $7,609 in 2022: report

Ethereum’s price is expected to reach US$7,609 this year, although it is expected to end the year at around US$6,500, according to Australian fintech Finder’s panel of 33 crypto specialists.  Fast facts In the long term, the panel predicted that Ethereum’s price will reach US$10,810 by the end of 2025, and US$26,338 by the end […]

Year’s biggest rally pushes crypto market cap above $2 trillion

After a poor start to the year, the market needed some good news. Industry watchers urge caution.

Solana DeFi avoids meltdown as Wormhole loss replaced

Jump Crypto announced that it replaced 120,000 ETH Friday morning Asia time to its cross-chain bridge Wormhole after a US$325 million exploit left wrapped Ether (wETH) in the Solana ecosystem unbacked. Fast facts The hacker was able to exploit Solana’s verification system to mint 120,000 wETH, and use it to funnel at least 93,750 ETH […]

Will blockchain’s future be cross-chain or multi-chain?

Vitalik Buterin caused an uproar over his recent criticisms of blockchain bridges. Here is a rebuttal in support of this nascent technology.

Another NFT marketplace launches ‘vampire attack’ against OpenSea

Mark Cuban-backed non-fungible token (NFT) marketplace Mintable launched a self-described vampire attack against top marketplace OpenSea by selling popular collectibles at a loss. Fast facts Singapore-based Mintable conducted a fire sale of nine Mutant Ape Yacht Club NFTs by selling them 1 to 2 ETH below their floor price on Jan. 26, while another was […]

January 2022

Crypto market suffers mauling as bears go berserk

Top blockchain and crypto news: Market chills make investors shiver. Hacking storm at OpenSea. Has Beijing tamed NFTs?

OpenSea NFT marketplace hacked for 332 ETH

OpenSea NFT marketplace has suffered a front-end attack with the exploiter withdrawing 332 ETH (US$800,000), as reported by security and data tracker PeckShield. Fast facts PeckShield noted the issue overnight Asia time, revealing the attacker received 10 ETH from Ethereum mixer TornadoCash, which was then wrapped to wETH to carry out the attack. The non-fungible […]

Crypto market tumbles amid uncertainty over Russia and Ukraine

Bitcoin and Ethereum fall below psychologically important levels as rising uncertainty clouds markets. Is the Fed also depressing crypto’s prospects?

Fantom overtakes Binance Smart Chain in DeFi TVL

Fantom has overtaken Binance Smart Chain (BSC) to become the third-largest blockchain in decentralized finance (DeFi) as measured by total value locked (TVL), according to DeFiLlama. Fast facts Fantom’s TVL bucked the global crypto market downtrend and increased more than 60% to US$12.2 billion over the past week, as of publishing time. Fantom is an […]

NFTs and music: Is the fan outcry over NFTs’ environmental impact warranted? | Part 4

K-pop fans are waging online campaigns against their favorite artists over NFTs, denouncing the technology’s carbon footprint. How polluting are NFTs?

Bitcoin price falls below $40K for second time in two weeks

The price of Bitcoin dropped below US$40,000 on Friday for the second time in two weeks, in the face of headwinds from the Russian central bank’s call to ban crypto trading. Fast facts Bitcoin lost up to 11% on Friday morning Asia time and was trading at US$38,599 at press time, according to CoinMarketCap. The […]

Polygon upgrade ignites token burn to make MATIC more valuable

Polygon’s upgrade, which piggybacks off Ethereum’s EIP-1559, makes MATIC deflationary while allowing users to estimate gas fees more accurately.

Cardano ADA beats Bitcoin as Ethereum alternative: Twitter poll

Cardano’s ADA edged out Bitcoin as the currency of choice in a Twitter poll posted by Ethereum creator Vitalik Buterin on a hypothetical future without ETH. Fast facts Buterin asked his 3.1 million followers on Friday what currency, aside from Ethereum, they would prefer to be used in 80% of all global transactions by 2035, […]

How to invest in cryptocurrency

If you’re intrigued about Bitcoin’s price history or Ethereum’s all-time highs, you might be wondering if you’re missing out on financial gains. To explore how to get started in investing in cryptocurrency, Forkast has created a quick explainer video on what to do and the options. What you’ll learn: What are the two types of […]

Bitcoin and Ethereum futures ETFs may be in the cards for India

India may soon get its first Bitcoin and Ethereum futures exchange traded funds (ETFs) pending approval by a financial regulator.  Fast facts India INX, the international arm of BSE (formerly Bombay Stock Exchange) and Torus Kling Block Chain IFSC have jointly sought regulatory approval for a Bitcoin and an Ethereum Futures ETF, according to a […]

New NFT marketplace challenges OpenSea’s dominance

New non-fungible token (NFT) marketplace LooksRare has outsold market leader OpenSea just a day after launch, reaching US$275.5 million in sales volume in the past 24 hours. Fast facts This compares with almost US$120 million in sales volume for OpenSea over the same period, according to DappRadar. Like its main competitor, LooksRare, which launched on […]

Is Bitcoin’s rocky start to 2022 a sign of things to come?

The 2022 crypto market has had a tough start as Bitcoin and Ethereum dipped below significant price points. But crypto experts say it’s not all doom and gloom.

Bitcoin’s biggest test may come at next TradFi sell-off

Traditional equities and global markets are due for a correction. Valkyrie CEO Leah Wald wonders whether Bitcoin would hold strong in a global sell-off.

Flash crash hits crypto market, but prices steady throughout Asia trading day

Bearish concerns over Federal Reserve rate hikes show a continued correlation with traditional markets, but industry watchers see changing dynamics at play.

Bitcoin, Ethereum price level sluggish while NFT sales volume surges

The crypto market leaders are trading sideways so far in the new year. But NFT trading volume has exploded, with strong Q1 performance expected.