Cryptostreet

  What is the Ethereum Merge? The Ethereum Merge is the complete conversion of the Proof-of-Work consensus mechanism to Proof-of-Stake in the Ethereum network. The beacon chain, on which Proof-of-Stake was first introduced, was connected to the Ethereum mainnet. As a result, the entire Ethereum network has been running on proof-of-stake since the merge. The merge is probably the most important step when updating from Ethereum to Ethereum 2.0. With the introduction of Proof-of-Stake, the Ethereum network is much more efficient, cost-effective and sustainable. The Ethereum merge finally took place on September 15 without any problems. What are the consequences of the Ethereum merge? As a result of the Ethereum merger, the network will become much more efficient in the long term. The energy consumption in the Ethereum network drops by 99.9%. Furthermore, the transactions are getting faster and the network should become much more sustainable in the future. The Ethereum Merge is now bri...

  While the strong US dollar is currently putting massive pressure on the stock market, commodity market and foreign currency market, Bitcoin ( BTC ) is able to hold its ground at 19,000 - 20,000 US dollars, which is why the media cannot avoid talking about the market-leading cryptocurrency. The New York Times points out, among other things, that the Bitcoin price has increased by almost 6.5% in the last seven days despite these circumstances. Fortune Magazine , meanwhile, notes that BTC is significantly stronger against other currencies like the Japanese yen, Chinese yuan and gold in the current environment, not to mention the weak British pound and euro. Fiat currencies like the euro and pound have been struggling to keep up against the US dollar (USD) lately, which is why business journalists are all the more impressed that Bitcoin is the only one holding up relatively well. The news portal Provocative even rhetorically asks in a headline whether it is "time to bet everything o...

  AVAX price returned to support around USD 16. The Avalanche price then rose to around USD 18.4 and was rejected in a bearish manner. AVAX Price Prediction: Could AVAX Drop Below $14? Most recently, we wrote in the last AVAX price forecast : “ Against BTC, the AVAX price is about to reach the golden ratio support at around 0.00085 BTC. The AVAX course could bounce off very strongly from this. AVAX finds significant support between USD 13.7 and USD 16.3 at the latest.  On the upside, the golden ratio around USD 29 acts as the key resistance. A bullish break ends the correction.” The AVAX price returned to the low point at around USD 16 and bounced off it strongly. Subsequently, the Avalanche price rose to the 0.382 Fib resistance at around $18.4 where AVAX got a bearish rejection. With that, AVAX could return to around USD 16 again. On the other hand, if AVAX bullishly breaks the resistance, there is significant golden ratio resistance at around USD 20 at the 50-day EMA. The M...

  The climate debate about Bitcoin has received new explosives through a study by the University of New Mexico . Scientists have examined the environmental footprint of mining using certain sustainability criteria. The result is sobering. Where does the energy come from? The trigger for the constant criticism of the Bitcoin life cycle assessment is the energy consumption, which has increased over the last few years. The reason for this is the power-intensive mining, in which blocks are attached to the blockchain and new Bitcoin is "mined". The energy sources used and the resulting CO₂ emissions are problematic. Bitcoin lobbyists argue that the share of renewable energies has increased. According to the Bitcoin Mining Council, it is already at 58 percent . However, the results of the study contradict this. Climate damage from mining is increasing The core thesis: The climate damage caused by Bitcoin has not decreased in recent years, but increased. "We found no evidence t...

  What is the Shiba Inu Coin? The Shiba Inu coin is a relatively young cryptocurrency that falls under the group of meme coins. These are purely fun currencies that make fun of other coins. The Shiba Inu is a parody of the Dogecoin , the first meme coin ever. However, meme coins have become serious objects of speculation in recent years and have seen extremely high increases in some cases.  The Shiba Inu Coin has an aggressive looking Shiba Inu dog as its symbol. The Shiba Inu is also the well-known symbol of the Dogecoin, which is a well-known meme of a confused-looking dog. From being a pure parody of the Dogecoin, the Shiba Inu Coin has evolved into a serious coin for investing through massive social media distribution and strong price increases. How has the Shiba Inu course moved in the last few months? In 2021, we have seen massive gains in the Shiba Inu course. The Shiba Inu price exploded to an all-time high of 0.000088 US dollars at the end of October. Then, however, t...