Ethereum

Coinbase Launches Ethereum Staking for US Institutional Investors

Leading cryptocurrency Exchange Coinbase has launched Ether(ETH) staking services for institutional investors in the United States, as the Ethereum network nears the long-awaited Merge.

This means that U.S. institutional buyers can now join other Coinbase Prime clients to stake Ethereum using Coinbase Prime accounts. They will also be eligible for a yield after the Merge which is expected before year end.

Coinbase Now Offers Ethereum Staking to U.S. Clients

Coinbase Prim is the crypto solution for institutional investors. It offers them access to various services including offline storage and advanced trading.

According to the announcement, when customers stake their ETH on Coinbase, the exchange automatically uses ETH2 to represent the staked crypto asset.

” The price of ETH is the same as ETH2. Coinbase stated that once the upgrade to Ethereum is complete, both ETH and ETH2 tickers will be combined into one ticker: ETH.

The exchange stated that institutions using Coinbase Prime could also have access to supported staking services such as Solana and Polkadot for Cosmos, Tezos and Celo.

ETH Developers Nearly Ready for PoS Transition

The merge crypto slang is used to describe Ethereum’s transformation from a proof of work (PoW), consensus algorithm, to a proof of stake (PoS). This upgrade will reduce Ethereum’s energy consumption and improve security and scalability.

The Merge is the formal adoption by ETH 2.0 of the Beacon Chain. Final testing is ongoing for the upgrade.

Last week, the network developers announced the details of the final preparations, noting that the Merge will be simulated on the testnet between August 6 and 12. If the test is successful with no significant issues, the Merge is expected to be implemented on September 19.

Over 13.8 Million ETH Staked

With the Merge only a couple of months away, Ether holders have deposited more than 13.8 million ETH on the staking deposit contract on the Beacon Chain.

At the time of writing, the total amount of staked tokens in the address was 13,877,800 ETH, valued at $21.9 billion at current prices.

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Ethereum

Ethereum Layer 2 Arbitrum One Surpasses 1 Billion Transactions

Arbitrum One, the Ethereum Layer 2 optimistic rollup, has surpassed 1 billion transactions this week. This feat was accomplished by Arbitrum One within three years of its mainnet launch in August 2021.

As of October 1st, Arbiscan recorded a total of 1.003 billion transactions.

In comparison, Coinbase’s Layer 2 network, Base, has logged 755 million transactions so far, while OP Mainnet trails with 347 million.

Notably, Arbitrum One also leads in total value locked (TVL) among Layer 2 solutions, currently sitting at $14.3 billion, with Base at $7.32 billion and OP Mainnet at $6.57 billion, according to the data compiled by L2Beat.

Earlier last month, stablecoin issuer Paxos announced its plans to launch its products on Arbitrum One. The main objective behind the partnership is to further institutional integration onto the Arbitrum network and bring real-world assets on-chain.

Via Arbitrum, the company intends will tap into Ethereum’s deep liquidity at higher speeds and low cost and engage Arbitrum’s active DeFi ecosystem.

While weighing on choosing Arbitrum One as the first Layer 2 chain to integrate with Paxos, Walter Hessert, the company’s Head of Strategy, commented,

“We are excited to partner with Arbitrum to bring more real-world assets on-chain. Arbitrum is known for its speed, security and scalability, which is critical to driving long-term adoption of digital assets across industries. In the next three years, the adoption of stablecoins by both retail and institutional users will explode and Paxos will drive that paradigm shift.”

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Ethereum

Sui Bridge Launches on Mainnet, Connecting Ethereum and Sui

The Sui Foundation has introduced the Sui Bridge on mainnet, enabling secure asset transfers between the Ethereum and Sui networks. This bridge focuses on simplifying the movement of assets across chains, starting with ether (ETH) and wrapped ether (WETH). Sui Rolls Out Bridge for Asset Transfers Between Ethereum and Sui According to the foundation’s blog [……
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Ethereum

Coinbase Sees Strong Q4 for Bitcoin, Fueled by US Rate Cuts, China Stimulus

Coinbase Institutional’s report highlights optimism for the crypto market, driven by expectations of U.S. rate cuts and China’s monetary stimulus, which could boost bitcoin’s performance in Q4 2024. While bitcoin remains strong, ethereum faces challenges with rising transaction fees and limited impact from U.S. spot exchange-traded funds (ETFs…
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