Following Ethereum (ETH) co-founder Vitalik Buterin’s recent post on the benefits of staking and further network decentralization, Cardano (ADA) co-founder Charles Hoskinson poked fun at it amid accusations that Ethereum was copying Cardano.

Ethereum (ETH) has faced a slight drop over the past 24 hours, with its price currently at $2,608, representing a 2% decline​(CoinGecko)​(Binance). This comes after a period of increased volatility, and Ethereum continues to underperform compared to Bitcoin, reflecting broader market hesitations. Ethereum’s trading volume saw a surge of nearly 79%, driven by whale activity, which deposited 3,510 ETH into the Kraken exchange​(Blockonomi).

Ethereum underwent a significant upgrade called Shanghai in April. It was supposed to make the network faster and more eco-friendly. But, a new report from JP Morgan says it hasn’t made as significant an impact as expected. This has led to talks about why Ethereum isn’t performing as well as hoped after the Shanghai upgrade, even though it was a massive milestone for the platform. The switch from proof-of-work to proof-of-stake called the Merge, was supposed to help Ethereum grow and reach an ATH.

Cardano founder Charles Hoskinson has taken a critical stance against Ethereum, labeling it a “dictatorship” heavily influenced by its co-founder, Vitalik Buterin. Hoskinson claims Buterin holds too much sway over Ethereum’s development, turning the decentralized network into a system that relies on one individual for key decisions.

ETH slightly rebounded and was up 1.89% in last 24 hours to $1,585

Ethereum has experienced notable turbulence in the past 24 to 72 hours. The cryptocurrency is currently trading around $2,400, showing signs of continued bearish pressure. Recent large-scale transactions, including a 35,000 ETH sale by the Ethereum Foundation and movements by hackers, have added to market instability. The Ethereum Foundation’s sale of ETH has raised concerns, signaling potential bearish sentiment in the short term, while a hacker transferring 3,000 ETH to a privacy service further spooked the market.

The Foundation periodically sells tokens to cover costs, creating a temporary sell-off event in markets.

Macro guru Raoul Pal says that the top smart contract platform Ethereum (ETH) is set to outperform Bitcoin (BTC) as the crypto markets enter into a new “spring” phase.

In the last 12 hours, Ethereum (ETH) has held steady at around $2,300, showing minimal price movement. Its 24-hour trading volume remains high, at approximately $13.5 billion, reflecting ongoing strong market activity​(CoinGecko)​(CoinMarketCap).

NEW YORK--(BUSINESS WIRE)--VanEck today announced the upcoming launch of the VanEck Ethereum Strategy ETF (EFUT), an actively managed ETF designed to seek capital appreciation by investing in Ether (ETH) futures contracts. EFUT does not invest in ETH or other digital assets directly.

Ethereum continues to see an impressive rise in staking activity, with nearly 29% of the total ETH supply now staked, a significant jump from earlier this year. This surge is a strong signal of growing long-term confidence among investors, particularly following Ethereum's shift to a proof-of-stake (PoS) model. This increase in staked ETH reduces the available supply, which could help drive upward pressure on prices over time​(The Currency analytics).

Rain Lõhmus, founder of LHV Bank, told Estonian media last month that he’s not made much effort to recover the funds but is willing to pay someone who can.

A significant portion of the stolen funds has been transferred into the fully automatic cryptocurrency exchange FixedFloat.

An address associated with failed crypto lending platform Celsius has moved millions of dollars worth of Ethereum (ETH) to an exchange, according to on-chain data.

Ethereum (ETH), boasting its position as the second most dominant cryptocurrency by market capitalization, is held by a staggering 242,686,839 unique addresses. Fast forward to September 3, 2023, and a mere ten ether addresses command a whopping 34.18% of its entire supply. Let’s dive in for an insightful glimpse into the top ten ETH wallets and the powerhouses steering today’s vast ether reserves.

Market Overview (Past 24-72 Hours): Ethereum has been facing significant challenges as it trades around $2,440, down approximately 0.3% in the last 24 hours. The past month was particularly tough for Ethereum, marked by a sharp decline in network fees, which have fallen to their lowest levels in years. This drop is largely attributed to the growing adoption of Layer-2 solutions, which have diverted activity away from Ethereum’s main network. Additionally, the underwhelming performance of Ethereum ETFs has further shaken investor confidence . With $477 million in outflows in August alone, it was Ethereum’s worst month since 2020​ ( CryptoNews , ZebPay ).

Conspiracy theory or one of the biggest scandals in crypto? The term “ETH Gate” has been on the lips of every XRP supporter in recent months and, increasingly, the broader cryptocurrency community. At the heart of this issue is the US Securities and Exchange Commission’s (SEC) decision to classify Ethereum (ETH) as a non-security, contrasting sharply with its ongoing legal action against Ripple and the XRP token.

Over the past 12 hours, Ethereum (ETH) has seen moderate bullish momentum, currently trading at around $2,696. Despite fluctuations, Ethereum is showing resilience by holding above key support levels, with its 50-day moving average at $2,476 acting as a strong foundation for potential growth​ (thecurrencyanalytics) (Crypto Futures Market Data).

Ethereum's price spike could be herald of good tidings

Ether was trading near a six-month low, just above $1,500 at time of publication, according to CoinGecko, as its overall share of the crypto market has declined 2 percentage points since January to 17%. (Meanwhile, Bitcoin is approaching 50% market dominance.)