Ethereum 2.0 confirmed for Dec. 1 launch just hours before deadline
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1 Monat ago
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Eth2’s beacon chain genesis has been confirmed for Dec. 1 following the transfer of 524,288 Ether (ETH) from 16,384 validators into the Eth2 deposit contract since it went live on Nov. 4.
Despite early concerns stemming from low staking participation, transfers to the deposit contract rapidly increased over the past day, with more than 200,000 ETH sent to the contract in the past 14 hours.
Ether sent to deposit contract over time: Dune Analytics
Ethereum 2.0’s beacon chain genesis is now set to take place on the earliest possible launch date of Dec. 1, with genesis taking place seven days after the required deposit contract’s threshold was met.
While genesis participants will not be able to withdraw their coins until ETH 2.0 reaches Phase 1.5 — which will merge the Ethereum mainnet with Eth2’s beacon chain and sharded environment — many hodlers are waiting for third parties to launch withdrawal-enabled staking services, despite the potential risk of exit scams.
The deposit contract’s threshold was met with roughly nine hours to go until its deadline.
We did it! Ethereum’s proof of stake chain will launch on December 1st.
%. We have now reached the minimum necessary for chain launch, including the pending transactions pic.twitter.com/kPGNX6qqk6
Crypto enthusiasts could make $122K per year mining Ethereum with this setup
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3 Minuten ago
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Dezember 29, 2020
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Simon Byrne has taken at-home crypto mining to a whole new level as he looks to capitalize on Ethereum’s (ETH) enormous price potential.
As first reported by Anthony Garreffa, Byrne has set up an ETH mining rig consisting of 78 GeForce RTX 3080 graphics cards. Although the RTX 3080 is marketed toward high-end PC gamers, crypto miners are using these powerful specs to enhance their capabilities.
With each card using roughly 300W of power, Byrne’s setup uses 23.4KW of energy. And that doesn’t even factor in associated costs like AC. All said, his electricity bill is estimated to run up to around $2,166 per month.
The RTX 3080 launched in September at a price of $699, but supply shortages have caused the per-unit cost to swell to $1,199. At the shortage price, that’s a price tag of $93,522 for Byrne’s setup.
Still, these costs could be offset by the operation’s mining capability. One GeForce RTX 3080 graphic card has a hash rate of around 83MH/s using Ethash, which should generate roughly 0.22236870 ETH per month, according to Garreffa. All 78 cards would therefore generate 17.3 ETH per month, which is equivalent to around $12,352 at today’s prices.
Stripping away the electricity costs, that’s roughly $10,200 per month or $122,000 per year. And that’s not factoring in Ethereum’s price potential during the next bull market.
Ether’s price zipped past $700 over the weekend, the first such move since mid-2018. The return of altseason, as some have predicted, could send ETH’s price even higher over the medium term as investors cycle from Bitcoin to other large-cap cryptocurrencies.
Bitcoin price rally cools down as Polkadot gains 34% in first week of ‘altseason’
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11 Stunden ago
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Dezember 29, 2020
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Bitcoin (BTC) fell below $26,000 on Dec. 29 as fresh fallout from Ripple’s threatened U.S. lawsuit was felt throughout crypto markets.
Cryptocurrency market overview. Source: Coin360
BTC price dips as Coinbase halts XRP trading
Data from Cointelegraph Markets, Coin360 and TradingView showed BTC/USD hitting lows of $25,830 during Tuesday trading.
$27,000 support failed to hold overnight, sparking a retest of lower levels which now center on $26,000. At the weekend, Bitcoin hit all-time highs of $28,400 before swiftly reversing.
The latest losses come as XRP, the fourth-largest cryptocurrency by market cap, hits $0.23 thanks to major U.S. exchange Coinbase opting to suspend trading from next month. The reason is a lawsuit from the U.S. Securities and Exchange Commission (SEC), which threatens to classify XRP as an unlicensed security and make trading it all but impossible.
“There is going to be a rangebound construction, after which 2021 will most likely break out again,” Cointelegraph Markets analyst Michaël van de Poppe summarized about Bitcoin’s short-term perspectives in a video update on Monday.
Analyst braced for altseason
Van de Poppe is eyeing altcoins as next in line to see major gains. XRP notwithstanding, the market is already showing signs of life, with Ether (ETH) climbing above $700 for the first time since May 2018 this week.
Another winner on Tuesday was Polkadot (DOT), now the seventh-largest token by market cap, which saw a 22.5% daily rise, capping weekly performance of nearly 34%.
For Van de Poppe, the next “impulse wave” on Bitcoin in 2021 should take the market to $40,000 or $50,000, but “until then, altcoins will most likely do well.”
He additionally pointed to a likely top in Bitcoin market cap dominance, which at almost 70% should soon give way to altcoin presence. December tends to see BTC dominance peaks, with 2017, the time of Bitcoin’s first attempt to crack $20,000, a notable comparison.