Breaking down Ethereum 2.0 and its sweeping impact on crypto markets By Christine Kim Research Associate August 4, 2021 Sponsored by ETH Price -4.97% $2,478.01 Market Cap $289.80B Volume (24H) $27.05B (As of 8/3/2021 @ 21:01 UTC. ETH price % change over 24 hours.) If you were forwarded this newsletter and would like to receive it, sign up here.
Ethereum Improvement Proposal (EIP) 1559 will be live tomorrow morning, according to block time estimations.
I’m your host, Christine Kim. Reply to this email any time with your thoughts, comments or queries. And between reads, chat with me on Twitter.
Welcome to another edition of Valid Points.
– Christine
Pulse check
The following is an overview of network activity on the Ethereum 2.0 Beacon Chain over the past week. For more information about the metrics featured in this section, check out our 101 explainer on Eth 2.0 metrics. Disclaimer: All profits made from CoinDesk’s Eth 2.0 staking venture will be donated to a charity of the company’s choosing once transfers are enabled on the network.
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New frontiers In order to maintain backward compatibility with wallets and blockchain services that facilitate transactions on Ethereum, the implementation of Ethereum Improvement Proposal (EIP) 1559 retains a field for these services to specify a gas price.
A message from CoinDesk The dynamic crypto mining industry has been even more active following China's crackdown. The global hashrate has largely shifted to North America, making the U.S. a key mining hub where institutions now take central stage.
Validated takes Ether has notched a 12-day winning streak in the run-up to the London upgrade. BACKGROUND: Blockchain data firm IntoTheBlock noted $2,598 and $2,753 as key resistance levels on the path toward $3,000. (Article, CoinDesk)
– Teddy Oosterbaan
Factoid of the week
A message about CoinDesk State
Even though many countries in the Middle East restrict or outright ban activities related to blockchain technology, the region is having its crypto moment. From Dubai’s first-of-its-kind Bitcoin Fund listing to the Bank of Israel’s trial of a digital shekel, interest is picking up in the region as crypto companies work closely with regulators in the Middle East and North Africa (MENA) to gain some clarity about oversight of digital currencies.
Join us as we jet-set through the Middle East on our #CryptoState2021 virtual tour and explore how different markets are thinking about crypto, their roadblocks and challenges, and crypto’s impact on the region.
Register for the Crypto State: Middle East virtual tour on Aug. 11.
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Valid Points incorporates information and data about CoinDesk’s own Eth 2.0 validator. All profits made from this staking venture will be donated to a charity of our choosing once transfers are enabled on the network. For a full overview of the project, check out our announcement post.
You can verify the activity of the CoinDesk Eth 2.0 validator in real time through our public validator key, which is: 0xad7fef3b2350d220de3ae360c70d7f488926b6117e5f785a8995487c46d323ddad0f574fdcc50eeefec34ed9d2039ecb.
Search for it on any Eth 2.0 block explorer site!
I'll be extending today's conversation on Ethereum 2.0 with Consensys’ Ben Edgington in a CoinDesk podcast series called “Mapping Out Eth 2.0.” New episodes air every Thursday. Listen and subscribe through the CoinDesk podcast feed on Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica, IHeartRadio or RSS.
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