Catch the latest news and trends of Ethereum with our Ethereum news. Explore Ethereum stories and reports that explain the latest global developments in one place with our news section. Launched in 2015, the main objective of Ethereum was to enhance the use cases of cryptocurrency and blockchain beyond the scope of Bitcoin. This concept was envisioned by programmer Vitalik Buterin in 2013.

As per the Ethereum website, "Ethereum is a decentralized platform that runs smart contracts." The development of this technology actually began in early 2014 through a Swiss company, Ethereum Switzerland GmbH (EthSuisse). It was envisaged as a "global computer" that enables developers to publish and execute apps powered by smart contracts. 

Ethereum has a native cryptocurrency called Ether (ETH) that not only provides an incentive structure similar to Bitcoin (BTC) in securing and maintaining the network, but it is also used as "gas" to run smart contract transactions. This serves as a security measure to protect the network from inefficient code and malicious actor attacks.

Anyone can deploy permanent and immutable decentralized applications on Ethereum, with which users can interact. Furthermore, it also allows users to create and exchange non-fungible tokens or NFTs, which are one-of-a-kind tokens that represent ownership of an associated asset or privilege recognized by a variety of institutions. 

Also, many other cryptocurrencies use the ERC-20 token standard on top of the Ethereum blockchain and have used it for initial coin offerings. Overall, Ethereum aims for a vast number of use cases, including permissionless financial services, crowdfunding opportunities for new organizations, and much more. 

Our Ether news section gives a  comprehensive outlook on Ethereum so that you don't have to search for news elsewhere. How will Ethereum evolve to meet the growing needs of the world? Will it surpass the expectations, or will more advanced technology surpass Ethereum? Stay tuned to this space as we bring all the latest stories so that you stay informed. 

Ethereum News

The crypto community celebrates Ethereum&#8217;s 8th birthday, marking eight years since the Ethereum Foundation launched its network.



In 2015, former Ethereum Foundation CCO Stephan Tual published a blog, announcing the rollout of the network. After eight years, Ethereum became the second largest cryptocurrency following Bitcoin with a value of $1,865 at the time of writing. Ethereum&#8217;s market capitalization exceeded $225.8 billion with more than 1,900 monthly active developers, according to CoinMarketCap.



<a href="https://upyo.com/en/news/tags/ethereum" target="_blank" rel="noreferrer noopener">Ethereum</a> was co-founded by prominent figures such as Vitalik Buterin, Gavin Wood, Charles Hoskinson, Anthony Di Iorio, and Joseph Lubin.



Founder of Mythos Capital Ryan Sean Adams tweeted that Ethereum has a secured value of $400 billion, $3.6 billion in annualized profits, and a total of 17.8 million blocks of uncensorable digital property.



Also, Binance CEO Changpeng Zhao posted a tweet on X recalling the time that Buterin stayed with him in Tokyo in the months leading up to the launch of Ethereum, saying: &#8220;But then again, if I had bought ETH then, I might not have had the need or drive to start Binance. Who knows?&#8221;



Ethereum has credit for the boom made by the decentralized apps in 2017 and the explosion of decentralized finance (DeFi) protocols and development in 2020. In addition, Ethereum gave the opportunity for NFTs to flourish.



It is worth mentioning that Forex Suggest said in its report that Ethereum recorded a significant reduction in CO2 emissions, amounting to 8,824 tons in 2022, compared to 21.95 million tons in 2021.



This massive decline in emissions is attributed to the Merge move, done by the blockchain to reduce energy consumption by 99%.



In Forex Suggest’s 2021 report, Ethereum was the second-most polluting cryptocurrency. Nevertheless, in 2022, it came behind Litecoin, Polygon, and Cardano in terms of CO2 emissions.

Ethereum

Crypto

Crypto Community Celebrates Ethereum’s 8th Birthday

The biggest cryptocurrency in terms of total market value, Bitcoin, remained the most polluting cryptocurrency in 2022, according to a new report by Forex Suggest, the World&#8217;s Local Forex Platform.



Titled &#8220;Global Impact of Crypto Trading,&#8221; the report, which measures the environmental impact of crypto in the last year, said around 86.3 million tons of CO2 emissions in 2022 were caused by Bitcoin, compared to 56.8 million tons in 2021, with increase of 65%, <a href="https://www.scmp.com/tech/tech-trends/article/3206593/bitcoin-remains-most-polluting-cryptocurrency-2022-while-ethereum-massively-reduced-emissions-report" target="_blank" rel="noreferrer noopener">according to South China Morning Post</a>. More than 430 million trees are needed to offset Bitcoin&#8217;s emissions.



However, Ethereum, the second-largest cryptocurrency in total market value, recorded a significant reduction in CO2 emissions, amounting to 8,824 tons in 2022, compared to 21.95 million tons in 2021. This massive decline in emissions is attributed to the Merge move, done by the blockchain to reduce energy consumption by 99%.



In Forex Suggest&#8217;s 2021 report, Ethereum was the second-most polluting cryptocurrency. Nevertheless, in 2022, it came behind Litecoin, Polygon, and Cardano in terms of CO2 emissions.



Litecoin replaced Ethereum in the last year&#8217;s report, coming in second place with CO2 emissions of 525,212 tons due to a large number of transactions. The total emissions of Litecoin need over 2.6 million to offset them. Polygon and Cardano came in fourth and fifth place, recording 128,272 and 11,249, respectively. Both need around 700,000 trees to remove their emissions.



It is worth mentioning that Bitcoin had broken the $20,000 mark this week for the first time in two months, recording $21,043 at the time of writing, upping its market capitalization by 4.33%. Also, Ethereum increased about 17% this week to record $1,553 for the first time since November 9 at the time of writing.

Cryptocurrencies

Blockchain

Ethereum Records Significant Decline in CO2 Emissions in 2022

The crypto industry lost more than $3.94 billion in 2022, a report by Immunefi, Web3&#8217;s leading bug bounty platform, revealed.&nbsp;



According to Immunefi&#8217;s&nbsp;<a rel="noreferrer noopener" href="https://www.globenewswire.com/Tracker?data=XwA-llMfYgKggrH9oq5iaYNJDMXKZpovyaE3Y1sRXY8X7u-el_lxck8UpMfON8Xb9cXD54ncT5uMcNmrRbSpRPH5MQI89IkUXK3OKy1FVlGa1DZRBpKf9yvrmFv1TNUHoXf_ZIgNg5EwEJDezQEdYl2qhskDZS4zm2cN-Z4eEQr7XZ_gRaijf-7pUXj7Q3T_IZRW0QIwlMGb1h2ZN5xW59tiBwaUSeG7Ag5iSYfxWrJ3RCwYT9Q8k1kJCkXNhxhNakPaiXvQcE77bhrNKqciz8qgxtgvWxAS6loLhF9YA9dWTrO6P0pnwf9iExPLtpKo2hWh_3_nn4itfGfYxf-8RGEMnzO0NizPcJiX0QyW-OirW2X1CkTP6OaJ-3mMp2I8PgsEtt31UmAcjhDOvr-AExRA3c0aI4RbnORAGoh3f18B1fkhLdGdGGO--kWzY2M5Ch31siOiOMaTKAYcqzI5Qg==" target="_blank">Crypto Losses in 2022 Report</a>, hacks were the main reason for these losses, accounting for 95.6%, while rug pulls, scams and fraud represented only 4.4% of the total losses. Because of hacks, the crypto industry lost over $3.77 billion in 2022 in 134 specific incidents, <a href="https://cointelegraph.com/news/3-9-billion-lost-in-the-cryptocurrency-market-in-2022-report" target="_blank" rel="noreferrer noopener">according to Coin Telegraph</a>.&nbsp;



These abovementioned figures represented a 58.3% increase compared to 2021. In 2021, the crypto industry lost around $2.384 billion only due to the hacks.&nbsp;



Immunefi revealed that decentralized finance (DeFi) was the most targeted sector, accounting for 80.5% in losses, compared to centralized finance (CeFi) which suffered a loss of 19.5%. In 2022, DeFi lost $3.180 billion across 155 incidents, a number that represents a 56.2% hike compared to 2021, as DeFi suffered $2.036 billion in total losses in 107 incidents.&nbsp;



Regarding the affected blockchains, the report found that BNB of Binance and Ethereum blockchains were the most targeted chains in 2022, accounting for 63.3% of attacks on the chains. BNB was more affected than Ethereum with 65 incidents, representing 36.1%. while Ethereum represented 27.2% of the attacks with 49 incidents.&nbsp;



The report also mentioned that the crypto industry lost more than $1.620 billion in the fourth quarter of 2022, a 45% increase compared to the crypto losses in the same period in 2021 (around $739 million). In addition, hacks were the main reason for the losses and DeFi was the main target of the attacks.&nbsp;



In this regard, CEO of Immunefi Mitchell Amador said such figures give impetus to protect the crypto community from harm and build trust by proactively identifying and addressing vulnerabilities



&#8220;Looking at the losses suffered by the community in 2022 is a reminder of the importance of prioritizing security and implementing robust and consistent measures moving into 2023,&#8221; Amador added.&nbsp;

Crypto Industry Lost Around $4 Bln in 2022, Report Says

DeGods and Y00ts, two of the most popular NFT collections on Solana, are expected to leave the platform by the next year to migrate to Ethereum and Polygon.



DeGods will move to the Ethereum blockchain, while Y00ts will bridge to Polygon. The migration will finish by the first quarter of 2023, according to Coin Desk.



The team behind the two NFT projects revealed that their move came to boost their sales and give them more capacity to develop on additional blockchains.



In a Twitter space, Rohun Vora, known as&nbsp;<a target="_blank" href="https://twitter.com/frankdegods" rel="noreferrer noopener">Frank</a>, the founder of the two projects, said: &#8220;There’s an argument to be made that [DeGods] has capped out on Solana. It’s hard to accept, but it’s been tough to grow at the rate we want to grow. If Ethereum is where we have to go to keep growing, it’s what we have to do.&#8221;



Vora pointed out that bridging to Ethereum and Polygon, which will occur through the cross-chain bridge, is the most effective way to make the two NFT collections reach a larger audience among the NFT collectors. He also added that the NFTs holders are free to keep their digital collectibles on Solana if they want as the migration would be optional, not mandatory.&nbsp;



Following the news, the sales of DeGods hiked, which gave a push for its floor price to reach around 566 SOL, according to Magic Eden. While the floor price of Y00ts became 153.9 SOL. It is worth noting that the sales of the two NFT collections represent nearly 70% of all Solana NFT sale volume.&nbsp;



The Solana market is currently suffering because of its links with Sam Bankman-Fried and the fall of the FTX. The Solana token declined from $31 in November to $11.7 at the time of writing.&nbsp;

Degods

DeGods, Y00ts Collections to Leave Solana to Ethereum, Polygon

After a challenging year for the crypto industry due to several reasons, crypto lovers still have hope that 2023 would be better for cryptocurrencies.&nbsp;



This came at an end-of-the-year poll conducted by CoinMarketCap, which asked the participants about the future of the crypto industry in the next year whether it will be bullish or bearish,<a href="https://finbold.com/over-80-of-crypto-enthusiasts-believe-2023-will-be-bullish/" target="_blank" rel="noreferrer noopener"> according to Finbold</a>.&nbsp;



The results were surprising. According to the poll, 83.11% of voters believed that 2023 would be bullish for the crypto market, while 16.89% of voters believed that 2023 would be bearish despite signs of recovery beginning to emerge aftermath of the bankruptcy of FTX and BlockFi.&nbsp;



<a href="https://beincrypto.com/crypto-wallets-users-grew-by-over-6-in-2022-huobi/" target="_blank" rel="noreferrer noopener">In another research by Huobi</a>, the number of crypto wallet users increased in 2022 to reach 85 million, with an increase of 6.3%. The research mentioned that the crypto wallets gained $1.398 billion in 2022 as total revenue with expectations that the earnings would reach $3 trillion in the next decade.&nbsp;



Huobi also reported that crypto wallets face three key challenges, which are user-friendliness, security, privacy, and regulation.



It is worth mentioning that the total number of cryptocurrencies exceeded 22,000 for the first time in history, according to CoinMarketCap. The figure is now standing at 22,057 at the time of writing.&nbsp;



Earlier Bitstacker.com revealed that over 5,000 new cryptocurrencies were introduced this year till December 3. The data was based on the total number of crypto coins tracked by CoinMarket.com on the first day of each month.



Despite the introduction of thousands of new cryptocurrencies, Bitcoin (BTC) is still on the top, accounting for 39.3% of the crypto market, followed by Ethereum (<a target="_blank" href="https://finbold.com/cryptocurrency/ethereum/" rel="noreferrer noopener">ETH</a>), with 18.6% dominance. In addition, the total market capitalization of the crypto industry decreased from $2.2 trillion on January 1 to $0.87 trillion at the time of writing, a decline of 60.44%, or $1.33 trillion, from the beginning of 2022.&nbsp;

cryptocurrencies (1)

Over 80% Believe 2023 Will Be Bullish for Crypto Industry

Despite fluctuations and the crypto bear market, the total number of cryptocurrencies exceeded 22,000 for the first time in history, according to CoinMarketCap. The figure is now standing at 22,038 at the time of writing.&nbsp;



Earlier Bitstacker.com revealed that over 5,000 new cryptocurrencies were introduced this year till December 3. The data was based on the total number of crypto coins tracked by CoinMarket.com on the first day of each month.



Now, the total cryptocurrencies launched this year till the time of writing recorded 5,794, with an increase of 35.68% over the year, <a href="https://finbold.com/number-of-cryptocurrencies-surpass-22000-milestone-amid-2022-bear-market/" target="_blank" rel="noreferrer noopener">Finbold reported</a>.&nbsp;



According to CoinMarketCap.com’s data, there were 16,238 cryptocurrencies on January 1, 2022. Whereas there were 21,159 cryptocurrencies on November 1 this year. Despite the increasing numbers, the month-on-month percentage change is declining, registering 1.67% between September and November, while it was 6.25% between January and February.



Despite the introduction of thousands of new cryptocurrencies, Bitcoin (BTC) is still on the top, accounting for 39.3% of the crypto market, followed by Ethereum (<a target="_blank" href="https://finbold.com/cryptocurrency/ethereum/" rel="noreferrer noopener">ETH</a>), with 18.6% dominance. In addition, the total market capitalization of the crypto industry decreased from $2.2 trillion on January 1 to $0.87 trillion at the time of writing, a decline of 60.44%, or $1.33 trillion, from the beginning of 2022.&nbsp;



The crypto tracking website, CoinMarketCap, surveyed crypto enthusiasts about the situation of the crypto industry in 2023, and 80% of them said the next year will be bullish for the cryptocurrencies.&nbsp;



<a target="_blank" href="https://www.bitstacker.com/crypto-winter-wipes-out-70-of-bitcoin-millionaires/" rel="noreferrer noopener">Another study by Bitstacker</a>&nbsp;found that the crypto winter caused a drop of 70% in Bitcoin millionaires, as about 72,000 Bitcoin millionaires became no longer millionaires after holding less than $1 million worth of Bitcoin.



Using the WayBackMachine web archive tool, Bitstacker revealed that the study noticed a decline of over 73.19% in Bitcoin millionaires in November 2022 compared to January 2022. In January 2022, there were 99,092 Bitcoin millionaires, which dropped to 26,564 in November this year.



This indicates a fall of over 72,528 Bitcoin addresses holding more than $1 million in Bitcoin. However, the study showed that there are 3,577 accounts that held over $10 million in Bitcoin at the time of conducting the research. While there are more than 34 million addresses that had at least $1 in Bitcoin.

Total Number of Cryptocurrencies Surpassed 22,000 for 1st Time

The prices of the biggest two cryptocurrencies in terms of market value, Bitcoin and Ethereum, slightly increase against the backdrop of the release of the latest Consumer Price Index (CPI) report.



CPI measures the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services. The CPI increased 0.1% in November compared to 0.4% in October, a matter which indicates that the inflation is cooling.



Bitcoin (BTC) increased by more than 3% over the past 24 hours and is now trading at roughly $17,700. While Ethereum jumped by about 6% over the past 24 hours to hit around $1,320 in trading. Other cryptocurrencies like XRP, Dogecoin, and Polygyn achieved gains also by 4%, 5%, and 4%, respectively.



<a href="https://www.coindesk.com/markets/2022/12/13/bitcoin-as-november-inflation-data-shows/" target="_blank" rel="noreferrer noopener">According to Coin Desk</a>, crypto traders are monitoring the US Federal Reserve whether will increase the interest rate, which is expected to be raised by half a percentage point on Wednesday, a matter which lowers the market value of high-risk/high-return assets such as cryptocurrencies.



Earlier this month, a CNBC report found that Americans’ views on cryptocurrencies have sharply deteriorated after a series of problems, collapses, and bankruptcies in the crypto scene.



The survey revealed only 8% of the American public has a positive view toward cryptocurrencies in November, decreasing from 19% in March. While 43% of Americans have a negative view of cryptocurrencies from 25% in March and those who are neutral became 18% from 31% in the same period.



This year witnessed the launch of about 5,000 new cryptocurrencies.

Bitcoin and Ethereum

Bitcoin, Ethereum Jump After Release of CPI Report

The global crypto market saw a state of optimism once again after its total capital market exceeded $1 trillion, <a href="https://dappradar.com/blog/october-blockchain-industry-report?fbclid=IwAR3q2DYUJdobgpjiI5x6ZHD8yQWlNLTtTHTAHerOsD-s_j1ThAKIK-ECios" target="_blank" rel="noreferrer noopener">according to Dappradar</a>.



In its report, Dappradar said in terms of cryptocurrencies, Dogecoin was the luckiest cryptocurrency regarding its performance. Dogecoin closed at $0.12 this month, with a 50% increase since the beginning of the month. The growth was driven by Elon Musk&#8217;s acquisition of Twitter worth $44 billion.



<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="652" src="https://adminblog.upyo.io/wp-content/uploads/2022/11/Dogecoin-Performance-1024x652.png" alt="" class="wp-image-2336" srcset="https://3.111.63.208/wp-content/uploads/2022/11/Dogecoin-Performance-1024x652.png 1024w, https://3.111.63.208/wp-content/uploads/2022/11/Dogecoin-Performance-300x191.png 300w, https://3.111.63.208/wp-content/uploads/2022/11/Dogecoin-Performance-768x489.png 768w, https://3.111.63.208/wp-content/uploads/2022/11/Dogecoin-Performance.png 1088w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



Regarding the NFTs, the trading volume of NFTs was down by 30% from September, recording $662 million, the lowest amount registered this year. Moreover, the value of total sales declined by 30% month-over-month.



Nevertheless, the report mentioned a growth in the number of unique traders by 18% to 1.11 million, saying it shows that new people are becoming more interested in entering the NFT industry and that the demand is still high.



In terms of cryptocurrencies, Ethereum continues its downward trend in the NFT trading volume. In October, it registered $324 million with a decline of 21%, the lowest NFT trading volume registered since June 2021. Also, Solana&#8217;s trading volume decreased by 49%, recording $66 million.



According to the report, due to the NFTs hype, more companies begin to look to NFTs as a way to collect money, however, companies should be aware of legal requirements that limit the use of NFTs for fundraising.



Dappradar pointed to the increasing competition among the NFT marketplaces in October.



<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="699" src="https://adminblog.upyo.io/wp-content/uploads/2022/11/NFTs-Trading-Volume-1024x699.png" alt="" class="wp-image-2338" srcset="https://3.111.63.208/wp-content/uploads/2022/11/NFTs-Trading-Volume-1024x699.png 1024w, https://3.111.63.208/wp-content/uploads/2022/11/NFTs-Trading-Volume-300x205.png 300w, https://3.111.63.208/wp-content/uploads/2022/11/NFTs-Trading-Volume-768x524.png 768w, https://3.111.63.208/wp-content/uploads/2022/11/NFTs-Trading-Volume.png 1088w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



Opensea was dominant with a percentage of 47.8. The trading volume of NFTs declined by 8.3%, compared to August, registering as the NFT trading volume plunged by 12.1%, recording $313 million month-over-month. This is the lowest trading volume recorded since July 2021.



While the X2Y2 marketplace, which came in second place, boosted its dominance on NFTs trading volume this month, recording 27.7% (+8.4%). Despite the increasing dominance, the NFT trading volume month-to-month declined by 38.82% ($181 million). It is worth mentioning that X2Y2 debuted an NFT loan feature that aims to attract more users without imposing any charges.



Also, Magic Eden bolstered its dominance in October by 2.3% compared to August, registering 9.4%. However, the trading volume of NFTs declined by 52.07% ($61 million) month-over-month.



The report concluded that despite fluctuations in the global market, NFTs and their marketplaces are still showing strong signs of resilience.

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