Decrypt • Dec 05, 23
Ethereum DEX Matcha Aims to Make It Easier to Trade Assets Across Chains
Matcha has just released cross chain swaps to help users move their assets from chain to chain.
Ethereum is a decentralized computing platform that uses ETH (also called Ether) to pay transaction fees (or “gas”). Developers can use Ethereum to run decentralized applications (dApps) and issue new crypto assets, known as Ethereum tokens.
Ethereum (ETH) is a decentralized, open-source that aims to become a global platform for and strives to enable users worldwide to write and run software resistant to censorship, downtime, and fraud. As the nonprofit Ethereum Foundation puts it, it "Is for more than payments. It's a marketplace of financial services, games, and apps that can't steal your data or censor you." Ethereum is the second-biggest by after as of 2023 and a decentralized computing platform that can run a wide variety of applications — including a universe of (or DeFi) apps and services. This platform is powered by its native cryptocurrency, Ether, which is used within the Ethereum network for various operations, making it an integral part of the system.
Ethereum operates through a network of computers that aim to work together as a supercomputer. The network, in its capacity, validates and processes transactions through a system known as . Miners, participants in the network, solve complex mathematical problems to confirm transactions, which are then added to the Ethereum blockchain. Ethereum's core innovation, the Ethereum Virtual Machine (EVM), allows for the execution of . These are self-executing contracts with the terms of the agreement directly written into lines of code, eliminating the need for a third party. Ethereum also hosts other cryptocurrencies using its compatibility standard, making it a vital player in the blockchain ecosystem.
Ethereum's potential use cases extend beyond the simple transfer of value. Its platform enables the development of a wide range of decentralized applications () that operate on its blockchain. These dApps can offer services ranging from games to digital identity systems and from supply chain tracking to complex financial instruments. Ethereum also enables the creation and exchange of non-fungible (NFTs), unique digital assets that can represent ownership of a variety of items and content.
In 2013, a 19-year-old computer programmer (and Bitcoin Magazine co-founder) named Vitalik Buterin released a whitepaper proposing a highly flexible blockchain that could support virtually any kind of transaction. Buterin, along with other co-founders, including Gavin Wood, secured funding for the project with the sale of $18 million in pre-launch tokens in 2014. In July 2015, the first public version of the Ethereum blockchain was launched, and smart contract functionality began to roll out on the Ethereum blockchain. Since its launch, Ethereum has undergone several planned upgrades, known as milestones, which improve the system's functionality, performance, and security. These upgrades are decided by consensus within the community and aim to represent the ongoing development and forward-thinking nature of the Ethereum project. In 2022, Ethereum went through a major upgrade, switching from proof-of-work to proof-of- to become a more secure and energy-efficient blockchain.
Ethereum, like Bitcoin, is an open-source project that is not owned or operated by a single individual. Anyone with an internet connection can run an Ethereum or interact with the network. However, Ethereum differs from Bitcoin in its ability to build and execute smart contracts. Smart contracts enable a vast ecosystem of applications on Ethereum, such as (which are pegged to the dollar by smart contract), decentralized finance apps (collectively known as DeFi), and other decentralized apps (or dApps). Until recently, Ethereum and Bitcoin were both secured by "miners" running specialized hardware to solve difficult math problems. In September 2022, Ethereum mining was phased out, and Ethereum transitioned to Proof-of-Stake. Ethereum is now secured by a global network of running Ethereum's software while (understand "locking") a certain amount of ETH tokens. Validators earn rewards generated in Ether (ETH) for participating in the process and can have their stake slashed if they violate the rules of the protocol. Anyone with an ETH stake and computer meeting the requirements can become a validator.
Coinbase makes it easy and secure to stake your ETH. Through Coinbase's built-in staking feature, anyone can stake their ETH (as much or as little as you'd like) in just a few taps. In your , navigate to the ETH asset page. You'll see a prompt to stake your ETH. If you want to sell or send your ETH staked on Coinbase, you can do so by converting it to cbETH, Coinbase's Wrapped Staked ETH token. The price of cbETH is determined by the market and may lose value. cbETH is available in select regions.
Like Bitcoin, Ethereum's price is based on a global marketplace of supply and demand. Its price can be volatile in the short term as demand overwhelms supply and vice versa.
By creating an account on Coinbase or an increasing number of other reputable financial technology companies, you can buy, send, and receive Ethereum.
Assets with the biggest change in unique page views on coinbase.com over the past 24 hours.
Of all the assets on Coinbase, these 12 are the closest to Ethereum in market cap.
113,746 unique individuals are talking about Ethereum and it is ranked #4 in most mentions and activity from collected posts. In the last 24 hours, across all social media platforms, Ethereum has an average sentiment score of 0 out of 5. Finally, Ethereum is becoming less newsworthy, with 55 news articles published about Ethereum. This is a 38.78% decrease in news volume compared to yesterday.
On Twitter, people are mostly neutral about Ethereum. There were 38.1% of tweets with bullish sentiment compared to 5.88% of tweets with a bearish sentiment about Ethereum. 56.02% of tweets were neutral about Ethereum. These sentiments are based on 129822 tweets.
On Reddit, Ethereum was mentioned in 0 Reddit posts and there were 0 comments about Ethereum. On average, there were more upvotes compared to downvotes on Reddit posts and more upvotes compared to downvotes on Reddit comments.
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Stake It or Leave It: What does Ethereum’s Shapella upgrade mean for ETH holders?
Noteworthy numbers: The percentage of Ethereum stakers that are currently in profit.
The price of Ethereum has risen by 10.64% in the past 7 days. The price increased by 2.16% in the last 24 hours. In just the past hour, the price shrunk by 1.30%. The current price is $2,268.05 per ETH. Ethereum is 53.63% below the all time high of $4,891.70.
The current circulating supply is 120,230,295.784 ETH.
The current market cap of Ethereum is $273.81B. A high market cap implies that the asset is highly valued by the market.
The all-time high of Ethereum is $4,891.70. This all-time high is highest price paid for Ethereum since it was launched.
Over the last 24 hours, the trading volume of Ethereum is $14.20B.
The current circulating supply of Ethereum is 120 million.
The median time that Coinbase customers hold Ethereum before selling it or sending it to another account or address is 52 days.
Ethereum ranks 2 among tradable assets on Coinbase. Popularity is currently based on relative market cap.
Currently, 84% of Coinbase users are buying Ethereum. In other words, 84% of Coinbase customers have increased their net position in Ethereum over the past 24 hours through trading.
Certain content has been prepared by third parties not affiliated with Coinbase Inc. or any of its affiliates and Coinbase is not responsible for such content. Coinbase is not liable for any errors or delays in content, or for any actions taken in reliance on any content. Information is provided for informational purposes only and is not investment advice. This is not a recommendation to buy or sell a particular digital asset or to employ a particular investment strategy. Coinbase makes no representation on the accuracy, suitability, or validity of any information provided or for a particular asset. Prices shown are for illustrative purposes only. Actual cryptocurrency prices and associated stats may vary. Data presented may reflect assets traded on Coinbase’s exchange and select other cryptocurrency exchanges.