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Energy use is down, and staking is up, but technical concerns still mark the road ahead for the second-largest cryptocurrency by market cap. One year after its historic transition to proof of stake, Ethereum has seen a massive reduction in energy use and a marked improvement in access to the network, however, a number of technical issues still mark the road ahead. The Merge was executed on Sept. 15, 2022 — an event that saw the Ethereum mainnet merging with a separate proof-of-stake blockchain called the Beacon Chain. The most noticeable improvement to Ethereum post-merge was the seismic shift from an energy -guzzling proof-of-work (PoW) consensus mechanism to PoS, which saw the Ethereum network drastically reduce its total power consumption. According to data from The Cambridge Centre for Alternative Finance, the Ethereum network has seen its energy use drop more than 99.9% from the approximately 21 terawatt hours of electricity it used while running under PoW. The Merge has reduced...

Crypto traders are actively investing in projects launching on zkSync as the hype around its potential governance token airdrop increases. The total amount of funds bridged to zkSync reached $115 million within 10 days of the public mainnet launch as users rush to farm the airdrop of the Ethereum rollup’s expected native token, per L2BEAT data. The zkSync era mainnet was launched one day after the March 24 Arbitrum airdrop. The median airdrop for eligible wallets was 1,250 ARB, earning its owners around $1,500 in free money. As users rushed to farm the next airdrop, zkSync has emerged as one of the most popular airdrop plays for the market. The new Zero-knowledge proof (ZK) based Layer-2 is also giving an opportunity for developers to establish an economic moat within the fresh ecosystem by gaining a first-mover advantage. Moreover, these projects also become eligible for an expected airdrop of the platform’s native token, similar to Arbitrum. DeFi Liquidity on zkSync skyrockets The t...

BTC, ETH, MATIC, HBAR and EOS are likely to pick up momentum if they cross above their respective overhead resistance levels. The market witnessed a major banking crisis in March as Silicon Valley Bank and Signature Bank failed and Silvergate Bank entered liquidation as the result of dire financial distress. In Europe, the government brokered a forced takeover of Credit Suisse by UBS. Still, the United States equities markets and the European stock markets closed the month on a positive note. The cryptocurrency market was also shaken by volatility, but Bitcoin (BTC) gained about 23% in March. Going forward, the picture looks encouraging for Bitcoin bulls in April and data from Coinglass suggests that the month has largely favored the buyers. Crypto market data daily view. Source: Coin360 Although altcoins reacted positively to Bitcoin’s rise, the rally has not been equal across the board. This suggests that market participants have been selective in their purchases. As a result, trad...

Some crypto tokens will perform better than stocks in 2023 as they become less sensitive to macroeconomic factors, according to CIO at Arca Jeff Dorman. Digital assets will largely decouple from traditional equity Markets in 2023, says Chief Investment Officer at Arca, Jeff Dorman. Discussing his outlook for 2023 in a recent interview with Cointelegraph, Dorman argues that as the global economy enters a recession this year, equities will be negatively affected while some crypto tokens will perform well: the value of the latter, he explained, is determined not only by macroeconomic factors but also by their utility within the respective ecosystems, which would remain unaltered in a recession. “You're going to see a lot of stocks get punished under the weight of restructurings and under the weight of lower revenues and lower cash flows. And you're actually going to see a lot of tokens do really well”, Dorman explained.  Crypto's decoupling process from equities may not ...