Coincheck – 6th Sept 2024 – $HNT (Helium)
By Abhishek Chauhan
The Coin for the day is: ETH
Price: 2350$ MC: 283Bn BN Ranked 2th up by 50% in the last 1 year
So what exactly is ETH?
Ethereum was first described in a 2013 whitepaper by Vitalik Buterin. Buterin, along with 7 other co-founders, secured funding for the project in an online public crowd sale in the summer of 2014.
The project team managed to raise $18.3 million in Bitcoin, and Ethereum’s price in the Initial Coin Offering (ICO) was $0.311, with over 60 million Ether sold. Taking Ethereum’s price now, this puts the return on investment (ROI) at an annualized rate of over 270%, essentially almost quadrupling your investment every year since the summer of 2014.
In 2022, Ethereum renamed its transition from proof-of-work to proof-of-stake from Ethereum 2.0 to The Merge. The Merge went live on Sept. 15, 2022, after the merge of the Goerli testnet successfully completed on Aug. 11, 2022.
What’s Trending?
Since August 30, Ethereum’s founder, multisig has sold 950 ETH, worth $2.27 million,The 950 ETH selloff was divided into five smaller transactions of 190 ETH each, every three days. After the latest transaction, Buterin deposited the proceedings from the 950 ETH to the decentralized protocol Aave.
Besides that, why has ETH ETF volume been declining?
Scalability issue, The TPS is so low so other blockchain are being preferred, which is why fee revenue has gone down as everyone is moving to cheaper alternative chains
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