MetaMask Launches "Buy Crypto" Feature to Simplify Cryptocurrency Transactions

MetaMask, a popular cryptocurrency wallet and decentralized application provider, has recently introduced a new "Buy Crypto" feature. This new addition enables users to purchase cryptocurrencies directly from within its Portfolio Dapp using fiat cash. With the introduction of this feature, MetaMask aims to provide its users with a more convenient way of buying cryptocurrencies through a variety of payment methods.

Access to the new "Buy Crypto" function is available to users in over 189 countries and includes access to more than 90 tokens distributed over eight different networks. Users can access this functionality by connecting their wallets to the Portfolio Dapp or clicking on the "Buy" button in the MetaMask extension wallet. After selecting the desired payment method, token, and network, the function generates a personalized price estimate for each transaction.

MetaMask has formed strategic alliances with various companies to expand its user base. In 2022, the company entered into a partnership with PayPal to enable users to buy and transfer ether (ETH) via PayPal's website. Moreover, MetaMask recently announced its connection with MoonPay, allowing users in Nigeria to purchase cryptocurrencies via quick bank transfers.

The launch of the "Buy Crypto" feature by MetaMask is expected to revolutionize the cryptocurrency industry. With its user-friendly interface and multiple payment options, it aims to attract more users to its platform, leading to an increase in the adoption of cryptocurrencies worldwide.

Takeaways:

MetaMask has introduced a new "Buy Crypto" feature that enables users to purchase cryptocurrencies using fiat cash.

The feature is accessible to users in over 189 countries and includes access to over 90 tokens distributed over eight different networks.

The function generates a personalized price estimate for each transaction based on the user's location and any applicable regional legislation.

MetaMask has formed strategic alliances with various companies, including PayPal and MoonPay, to expand its user base.

Conclusion:

MetaMask's "Buy Crypto" feature aims to provide users with a more accessible and convenient way of purchasing cryptocurrencies. With its multiple payment options and personalized price estimates, it is expected to attract more users to its platform, leading to an increase in the adoption of cryptocurrencies worldwide.

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Ethereum Shapella Update Triggers Staker Withdrawals, Raises Concerns and Optimism

The recent Shapella update on the Ethereum network has caused stakers to withdraw thousands of ETH worth millions of dollars. While some analysts predicted a decline in the market value of ETH, the price has remained above $2,000, leading to cautious optimism among investors.

Withdrawals of over 270,000 ETH have been recorded since the update, with Lido, Figment, and Celsius Network being the leading withdrawal addresses. Lido also dominates the staking market with over 5 million staked ETH, followed by Kraken and Figment.

However, there are concerns about the future of the staking market, as Kraken faces a lawsuit by the CFTC, and Celsius faces insolvency issues. These concerns raise questions about the overall impact on ETH's value.

Despite liquidations amounting to over $73 million in the last 24 hours, funding rates stand at over 0%, indicating that investors anticipate a future price increase.

Key takeaways:

The Shapella update caused staker withdrawals of thousands of ETH worth millions of dollars.

Lido dominates the staking market with over 5 million staked ETH.

Kraken and Celsius face concerns about the future of the staking market.

Despite liquidations, funding rates indicate investor optimism for a future price increase.

Conclusion:

The Shapella update on Ethereum has caused staker withdrawals, leading to concerns and optimism among investors. While the future of the staking market remains uncertain, funding rates suggest that investors remain positive about the future value of ETH.

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10 Crypto Trading and Investing Mistakes to Avoid

With the rise of cryptocurrency investments, it is essential to be aware of the potential mistakes that can lead to significant losses. In this article, we will discuss ten common crypto trading and investing mistakes to avoid stable returns.

Overconfidence

Emotional Investing

Lack of Patience

Holding all your assets in one location

Ignoring Technical Analysis

Not Using Stop-loss Orders

Not Conducting Fundamental Analysis

Lack of Crypto Knowledge

Complicated Strategies

Not Forming Your Own Opinion

Takeaways:

Always practice proper portfolio management and diversification to avoid overconfidence in investments.

Do not let emotions drive investment decisions, especially during market fluctuations.

Crypto investments require patience and a long-term view.

Store assets in multiple locations for added security.

Technical analysis can help identify trends and potential market movements.

Use stop-loss orders to protect investments during market downturns.

Conduct fundamental analysis to determine the worth of a project or token.

Learn about how crypto works before investing to avoid speculation.

Avoid complicated trading strategies if you are not familiar with the market and the tools you use.

Trust your judgment and form your own opinions based on well-thought-out decisions.

Conclusion: Crypto trading and investing can be profitable, but it is essential to avoid these ten common mistakes to ensure stable returns. By practicing proper portfolio management, conducting thorough research, and avoiding emotional investing, you can protect your investments and minimize potential losses. Remember to stay patient, diversify your portfolio, and trust your judgment based on facts and sound analysis.

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Ethereum has seen notable inflows since the Shapella upgrade.

So far, only $3.6 billion has been withdrawn, with most outflows coming from Kraken.

Only a fraction of validators have chosen full withdrawals.

Ethereum stakers have withdrawn 1,976,138.58 ETH ($3.6 billion) in staked ETH since developers enabled withdrawals in the Shapella upgrade in April.

ETH rewards make up 80% of the withdrawals, with roughly 3% of stakers exiting the through principal deposit outflows.

Lido Finance Staked About 6 Million ETH

There has been a notable increase in ETH staked since the Shapella upgrade, also known as the Shanghai upgrade, was completed at 22:42UTC on April 12.

This trend suggests Ethereum users see the asset as a long rather than a short-term investment.

In the last 24 hours, net deposits saw 47,974 ETH ($87 million) staked on Ethereum’s Beacon Chain. The ETH staked through principal deposits accounts for 93.6% of 18.9 million in locked ETH. Almost 97.3% of staked ETH is not liquid.

7-Day ETH Deposits and Withdrawals | Source: Nansen

Liquid staking service Lido Finance has staked almost six million ETH on the Beacon Chain. Lido, Rocket Pool, and other liquid stakers offered investors unwilling or unable to lock up 32 ETH on the Beacon Chain a chance to invest in Ethereum.

After Lido, crypto exchanges Coinbase, Binance, and Kraken have staked the most ETH with 2.3 million, 852,512, and 799,200.

Low Principal Withdrawals Ensure Ethereum Security

Developers opened deposits on the Beacon Chain in December 2020. Aspiring validators could migrate their node software to validator status by sending 32 ETH to the Beacon Chain’s deposit smart contract. The network would reward them for securing the network by successfully confirming and broadcasting transactions.

Full withdrawals remove the 32 ETH and any accrued rewards and revoke the node operator’s validator credentials. Around 15,395 validators have started full withdrawals. These represent about 2.6% of node operators responsible for securing the network. 

So far, most withdrawal requests have come from the institutional staking operator Kraken. There are currently 554,266 active validators, according to beaconcha.in.

Principal ETH Withdrawals | Source: Nansen

Validators wishing to exit must wait in the “exit queue” before entering a withdrawal period, determined by the number of simultaneous withdrawal requests. A high withdrawal request volume will mean longer waiting times.

The Ethereum network has so far handled about 2,211,600 withdrawals.

The current price of ETH at publication is $1,831.65. The altcoin surged to about $2,100 post-Shapella.

source: beincrypto

#ETH #Ethereum #eth2.0 #shapella

Disclaimer

The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

SOL/USDT Technical Analysis: Bullish Flag Breakout and Potential for 100% Growth

SOL/USDT is currently trading at $24.20, and after the recent breakout of a bullish flag pattern, the cryptocurrency is in a bullish mode. The analyst had already given an entry around $20, which is already up by 12%.

The analyst predicts that the price may retract to around $21-$22, which could be a good entry point. After this retracement, the analyst expects the price to fly towards $30 or $40, which is approximately 100% growth from the breakout level.

Here are the technical analysis details:

Entry: $21-$22 Targets: $30/$40 Stop Loss: Any 4-hour candle close below $20.50

It's important to remember to manage risk in every trade and to conduct your own research before investing in any coins. This information is not financial advice.

Takeaways:

SOL/USDT has broken out of a bullish flag pattern, indicating a bullish mode.

The analyst suggests an entry point of $21-$22, with potential targets of $30 or $40.

The stop loss is any 4-hour candle close below $20.50.

Risk management is crucial in every trade, and individual research is recommended.

Conclusion:

SOL/USDT has recently broken out of a bullish flag pattern, and the analyst predicts potential growth of up to 100% from the breakout level. However, it's important to manage risk and conduct individual research before investing. The suggested entry point is $21-$22, with potential targets of $30 or $40, and the stop loss is any 4-hour candle close below $20.50.

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The second largest crypto blockchain Ethereum is preparing for a new upgrade that will reduce transaction fees on the network. The upgrade tagged “Dencun” will also introduce more use cases for #Ethereum . 

Notably, Ethereum Foundation made the announcement of Dencun upgrade just three weeks after the #shapella upgrade.

With the upcoming Dencun upgrade, Ethereum network users can now transact with lower fees. 

Introducing Dencun Upgrade – What You Need To Know

The upcoming Dencun upgrade will feature Ethereum Improvement Proposals (EIPs). These are proposals that aim to bring changes to the network. The Ethereum community usually reviews the proposals to accept or reject them.

If the community accepts the EIPs, they become a part of the Ethereum network codes. The Dencun upgrades have four proposals, including EIP-1153, EIP-6475, EIP-4844, and EIP-6748. 

The first proposal is EIP-4844 or Proto-Danksharding or The Surge. The Surge aims to bring in “data blobs” for Layer 2 solutions to post transaction and proof data instead of CALLDATA. 

The blobs offer lower gas costs since they’re never stored on the blockchain permanently. The blob aims to lower the transaction fee on Ethereum. 

Other Dencun Proposals Bring Diverse Changes

The second important proposal for review is the EIP-6780. This proposal is to deactivate the SELFDESTRUCT opcode but still preserve its functionality. EIP-6780 proposal will allow the creation and erasure of contracts in a single transaction but not delete the contract code or storage.

The third proposal is EIP-1153 which will bring two new opcodes, TSTORE and TLOAD, to the network. The developers aim to provide transient storage that will be cleared once a transaction ends. This will add more use cases, from re-entry locks to single-transaction ERC20 approvals.

The fourth proposal is EIP-6475: SSZ Optionals. This change supports EIP-4844 since it defines one of its SSZ elements in the transaction format. The aim is to facilitate forward compatibility with SSZ objects that will be introduced to the network. 

While the four proposals above remain the major ones, the development team has others that might be considered too. One of the probable ones is EIP-2537: Precompile for BLS12-381 curve operations.

#eth2.0

Bitcoin Halving

Bitcoin Halving: What It Is and What it means for the Crypto Market

Bitcoin halving is an event that takes place approximately every four years and has a significant impact on the crypto market. As the name suggests, it is a process of reducing the amount of Bitcoin that is created and released into the market. It is an important event in the cryptocurrency world and has been a major factor in the price of Bitcoin in the past.

What is Bitcoin Halving?

Bitcoin halving is a process that occurs every 210,000 blocks, or approximately every four years. It is a process of reducing the amount of Bitcoin that is created and released into the market. The process is designed to reduce the rate of inflation of the cryptocurrency and ensure its value is maintained.

When Bitcoin halving occurs, the amount of new Bitcoin released into the market is reduced by half. This means that the number of new coins created each year, or the inflation rate, is reduced by 50%. This is done to ensure that the value of Bitcoin is maintained and to prevent it from becoming too volatile.

How Does Bitcoin Halving Affect the Crypto Market?

The effects of Bitcoin halving on the crypto market are far-reaching. The most significant impact is on the price of Bitcoin. As the amount of new Bitcoin released into the market is reduced, the demand for Bitcoin increases, driving up its price. This is because investors believe that the reduced supply will lead to an increase in the price of Bitcoin.

The halving also affects the mining process. As the amount of new Bitcoin created is reduced, miners are incentivized to mine more efficiently. This increases the difficulty of mining, which in turn increases the cost of mining. This can be beneficial for miners, as it can lead to higher profits.

What Is the Impact of Bitcoin Halving on the CryptoMarket?

The impact of Bitcoin halving on the crypto market is significant. As the amount of new Bitcoin created is reduced, the demand for Bitcoin increases, driving up its price. This is beneficial for investors, as it can lead to higher profits. The halving also has an effect on miners. As the difficulty of mining increases, miners are incentivized to mine more efficiently. This can lead to higher profits for miners. Overall, Bitcoin's halving is an important event in the crypto market. It helps to maintain the value of Bitcoin and can lead to higher profits for investors and miners. It is an event that should be monitored closely by those involved in the crypto market

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Over $100 Million in ETH Re-enters Circulation as Staking Withdrawals Begin

Following the launch of Ethereum 2.0, which allows users to stake their ETH and earn rewards, over $100 million in ETH has re-entered circulation as staking withdrawals begin. In this article, we will examine the current state of the Ethereum 2.0 staking ecosystem and explore the implications of these withdrawals.

👉 1

Staking Contract Sees Significant Outflows In the hours after withdrawals opened, the staking contract has seen significant outflows, with an average of roughly 10,000 ETH per hour leaving the contract. The total outflow currently stands at -66,815 ETH worth $128 million, or .3% of the 18.1 million ETH total.

👉 2

Large Validators and Rewards Withdrawals Of the 19.2 million ETH on the beacon chain, 705,155 ETH from over 19,000 validators is currently awaiting withdrawal. Major entities such as Huobi (38k ETH) and Kraken (22k ETH) are large, looming withdrawals. Notably, the majority of withdrawals are addys withdrawing their rewards, not their rewards + full stake.

👉 3

Staked ETH to Trend Down? At the current pace of withdrawals, it’s reasonable to assume the total amount of staked ETH will trend down. However, there remains strong inflows as well, with over 15k ETH staked on a 24-hour basis. It will be interesting to watch for when inflows meet equilibrium with outflows.

👉 4

$LDO Continues to Dominate In the meantime, $LDO , the governance token for Lido, a popular ETH staking service, continues to dominate. Its price has seen significant growth in recent weeks, reaching an all-time high of $9.27.

Takeaways:

Over $100 million in ETH has re-entered circulation as staking withdrawals begin

The staking contract has seen significant outflows, with an average of roughly 10,000 ETH per hour leaving the contract

Large validators such as Huobi and Kraken are among those making significant withdrawals

The majority of withdrawals are for rewards only, not the full stake

The total amount of staked ETH may trend down, but there are still strong inflows as well

$LDO continues to dominate, with significant growth in recent weeks

Conclusion:

As Ethereum 2.0 continues to evolve, the staking ecosystem will continue to experience fluctuations. These withdrawals may indicate a shift in sentiment among stakers, or they may simply be a temporary blip. Regardless, it will be interesting to watch how the ecosystem evolves in the coming weeks and months.

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