Ethereum News Daily TheBitTimes.com

Ethereum is scheduled to implement the Shapella hard fork or Shanghai upgrade in eight days. This update will enable stakers to unlock their staked ETH. However, some investors are concerned about the potential for a significant sell-off of Ether on exchanges. While the sell-off fear persists on one side, another fear about what could happen with the SEC post-upgrade has also surfaced. The SEC has ramped up its scrutiny of the cryptocurrency realm ever since the fall of the FTX exchange. Also read: Bitcoin: MicroStrategy Buys 1045 BTC for $29.3 Million Things have become even worse as the SEC tries to label all cryptocurrencies, except Bitcoin, as sec urities. Enabling staked Ethereum withdrawal could elevate backlash Lara Gatz, who is a new partner in the global regulatory enforcement practice of Reed Smith LLP and a former federal pro sec utor with the Department of Justice, stated how Ethereum could face backlash for enabling the withdrawal of staked Ether. ...

Other clients also reported the same issue. VanDerWijden said the team found that Go Ethereum (Geth) client nodes facing difficulty syncing with the Zhejiang testnet. advertisement “The last 4 and a half stressful hours of debugging culminated in this amazing bug fix. We got reports that geth nodes wouldn’t sync the Zhejiang devnet correctly. The issue was that if a block body was empty (no tx, no withdrawals) we wouldn’t initialize it correctly.” However, developers believe the problem can be fixed with a patch as it’s fairly easy to test. In addition, core developer Tim Beiko asserts an additional Hive test is proposed for ensuring the issue is resolved correctly. Interestingly, Ethereum core developers think the issue likely will not impact the Sepolia upgrade scheduled on February 28 at 4 AM UTC. The client releases for the upgrade and blog on the same will be announced early next week. Trending Stories ...

Traders are contemplating what will happen to ETH price and staked Ether derivatives after the next network upgrade opens withdrawals for stakers. The crypto market witnessed the DeFi summer of 2020, where decentralized finance applications like Compound and Uniswap turned Ether (ETH) and Bitcoin (BTC) into yield-bearing assets via yield farming and liquidity mining rewards. The price of Ether nearly doubled to $490 as the total liquidity across DeFi protocols quickly surged to $10 billion. Toward the end of 2020 and early 2021, the COVID-19-induced quantitative easing across global markets was in full effect, causing a mega-bull run that lasted almost a year. During this time, Ether’s price increased nearly ten times to a peak above $4,800. After the euphoric bullish phase ended, a painful cool-down journey was exacerbated by the UST-LUNA crash which began in early 2022. This took Ether’s price down to $800. A ray of hope eventually arrived in the third quarter as the market experien...