😬 ‘Massive Dumping’ by Ethereum Miners Punishes ETH
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Shift to Proof of Stake Roils ETH Market But Perhaps Only for the Short Term
By Samuel Haig
DISMAY Ever since The Merge took place on Sept. 15 investors have looked on in dismay as Ether lost a fifth of its value over the next four days. What was going on? Many traders expected some profittaking and sell-the-news market action, but the historic upgrade was supposed to usher in a vibrant new era for Ethereum, not a spasm of bearish selling.
MINERS Now, one of the causes for the selloff may be emerging — Ethereum miners are dumping ETH at record levels, according to data from OKLink.
Crypto Supporters Decry Move to Treat Ethereum Same as Stocks and Bonds
BATTLE The Merge may be complete, but the battle for legally defining Ethereum 2.0 is just beginning. Hours after Ethereum completed its historic transition to Proof of Stake technology, a top U.S. regulator said cryptocurrencies that use this approach should probably be defined as securities.
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Manifold Finance Purchased The Domain For $850K Two Weeks Ago
By Owen Fernau
CONTROL Ethereum Name Service (ENS) has regained control of the eth.link domain, according to the project’s Twitter account. Nick Johnson, the founder of ENS, describes eth.link as a decentralized application (dapp) built on top of ENS which allows the internet’s Domain Name System (DNS) to access information stored in ENS.
Ecosystem Of Blockchains Unveils Interchain Security
ON THE RISE Even as the price of Ether has sunk this week despite a successful Merge, another blockchain ecosystem is on the rise.
ETH Issuance Has Dropped By 97%
By Owen Fernau
MONEY Proponents hoping to immediately proclaim Ether to be an “ultra sound” form of money can’t celebrate just yet.
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A Step-by-Step Primer on the DeFi Derivatives Platform
RISKY MARKET Synthetix operates in one of the riskiest markets in finance — crypto derivatives. These are financial instruments that even professionals find difficult to manage and may punish ill-prepared retail investors. In some nations such as the U.K., regulators have prohibited the sale of crypto derivatives to retail investors.
One topic that often re-emerges in layer-2 scaling discussions is the concept of "layer 3s".
ETHPoW, the proof-of-work blockchain forked from Ethereum that went live shortly after Ethereum’s transition to proof-of-stake (PoS) last week, has fallen victim to a replay exploit that resulted in an extra 200 ETHW tokens being siphoned by the attacker.
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New PoW Ethereum Fork Plunges 75% Amid Flurry of Problems The Merge may have launched without a hitch but ETHPoW, the Proof of Work fork of Ethereum aimed at die-hard miners, is off to a troubled start.
Exchanges Resume ETH Transfers After Successful Merge Centralized crypto exchanges have re-enabled withdrawals and deposits of Ether and related tokens on Thursday, after a brief pause due to uncertainty surrounding the Merge, Ethereum’s biggest upgrade in its seven-year history.
ETH Plummets Post-Merge as DeFi Chugs Along Maybe the Merge was a sell-the-news event after all. ETH has fallen just under 10% in the past 24 hours, while Bitcoin, the world’s largest cryptocurrency, has only dropped 2%. The DeFi Pulse Index (DPI), the largest index focused on DeFi, is down 6%.
🧑💻 ✍️ Stories in The Defiant are written by Owen Fernau, Aleksandar Gilbert, Samuel Haig, and yyctrader, and edited by Edward Robinson, yyctrader and Camila Russo. Videos were produced by Robin Schmidt and Alp Gasimov. Podcast was led by Camila, edited by Alp.
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Ethereum Miners Struggle to Find Their Footing After The Merge
By Samuel Haig
FALLOUT The fallout from The Merge for Proof of Work mining outfits has been swift and profound. As expected, many former Ethereum miners appear to be shutting down their hardware following the execution of its historic upgrade last Thursday.
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