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In a recent flurry of significant digital asset transfers, Ethereum (ETH) investors with considerable financial reserves, colloquially known as whales, have moved approximately $140 million of the cryptocurrency into leading exchanges such as Coinbase, Kraken, and OKX.

According to data from the Ethereum blockchain, first reported n by whale monitoring service Whale Alert, underscores a trend among notable ETH investors, with several transactions worth millions of dollars moving to exchanges after the supply of the second-largest digital asset by market capitalization fell on exchanges in June.

One transaction involved a transfer of 20,000 ETH (valued at just over $38 million) from Arbitrum (ARB), a layer-2 scaling solution, to the popular San Francisco-based digital asset exchange, Kraken.

In another striking move, a transaction amounting to $48.3 million (equivalent to 25,264 ETH) was sent from an unidentified wallet to Coinbase, the largest cryptocurrency exchange platform in the U.S. based on transaction volume.

On top of that, another cryptocurrency whale moved 30,000 ETH (worth nearly $57.7 million) to OKX, a Seychelles-registered digital currency exchange. Notably, these large transactions come as major financial powerhouses that collectively manage an astounding $27 trillion in assets are making inroads into the world of Bitcoin and cryptocurrency after a race to list the first spot Bitcoin exchange-traded fund (ETF) in the United States kicked off.

A recent report from Goldman Sachs citing on-chain data, the supply of the largest cryptocurrency by market capitalization, Bitcoin, tumbled on exchanges by 4%, approaching levels recorded in December 2022. This was the lowest level witnessed since November 2020, immediately prior to the 2021 bull market.

Goldman Sachs report also noted that Ethers supply on exchanges dropped by 5.8%, reaching a level that hasnt been seen since May 2018. This propensity towards self custody is propelled by a convergence of factors, the banking giant stated. These include spot exchanges facing regulatory headwinds, and cyber hacks and theft remaining a concern.

For Ether specifically, Ether staked Ether withdrawals have resulted in investors preference to stake ether, instead of passively holding on exchanges.

Featured image via Unsplash.

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Ethereum ($ETH) Whales Move $140 Million to Crypto Exchanges - CryptoGlobe

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The cryptocurrency market is constantly evolving, with investors seeking new opportunities that offer groundbreaking innovation and potential for significant returns. As investors look to reallocate their funds, one token that has captured their attention is InQubeta (QUBE). Lets delve into the features and potential of InQubetas platform, highlighting why it is positioned to outperform Ethereum (ETH) and become a must-have asset in every investors portfolio.

InQubeta is an AI-focused cryptocurrency that leverages blockchain technology to revolutionize the AI industry. With its unique approach, InQubeta aims to connect investors with the most promising AI startups and projects, fostering growth and innovation in this rapidly expanding field. By providing a fair and transparent system for reviewing startup applications, InQubeta ensures that only the best projects receive funding, creating a community-driven ecosystem of excellence.

One key advantage that sets InQubeta apart from Ethereum is its laser focus on AI. While Ethereum is a general-purpose blockchain platform that hosts a wide range of applications, InQubeta specializes in providing AI startups with the necessary resources and support to thrive. This targeted approach allows InQubeta to tap into the immense potential of the AI industry, which is projected to reshape various sectors, including healthcare, finance, and technology.

InQubeta introduces a unique crowdfunding mechanism using fractionalized non-fungible tokens (NFTs). This groundbreaking approach allows investors to participate in the success of AI startups by owning fractional shares of their NFTs. By fractionalizing ownership, InQubeta enhances liquidity and accessibility, enabling investors of all sizes to engage in the AI market. This innovation benefits investors and provides AI startups with an alternative fundraising avenue, facilitating their growth and development.

InQubeta prioritizes security and trust to provide a safe environment for investors and startups alike. The platform has undergone rigorous auditing by leading smart contract auditing firms, Hacken and Block Audit, ensuring that the system is free from vulnerabilities and susceptible to hacks. This commitment to security instills confidence in users, mitigating risks associated with the investment and utilization of the platform.

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As the AI industry continues to expand, InQubeta is well-positioned to experience substantial growth in the long term. The ongoing presale has been a success, with more than $900,000 raised so far, and theres an expectation that it could surpass $1 million in the coming weeks.

With its specialized focus on AI startups, the platform attracts both investors seeking exposure to this emerging market and innovative entrepreneurs looking for funding and support. This symbiotic relationship creates a vibrant ecosystem that fuels the development of groundbreaking AI solutions, further increasing the value and potential of InQubeta.

InQubetas unique combination of AI and blockchain technology positions it as a strong contender to outperform Ethereum and become a top cryptocurrency investment. The platforms laser focus on the AI industry, its fractionalized NFT crowdfunding mechanism, and its commitment to security and trust make it an attractive choice for investors seeking exposure to the potential of AI innovation. As the AI industry continues to flourish, InQubeta is poised to play a vital role in shaping its future, making it a must-have asset in every investors portfolio.

Visit InQubeta Presale

Crypto News Flash Disclaimer: This publication is sponsored. Crypto News Flash does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should conduct their own research before taking any actions related to the company. Crypto News Flash is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.

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InQubeta (QUBE) On Track To Show Better Returns Than Ethereum ... - Crypto News Flash

How do the two biggest coins compare? | Credit: Shutterstock

Key Takeaways

Vitalik Buterin highlighted fundamental differences between the core design of Bitcoin and its smart contract pioneering predecessor Ethereum having trade-offs during a widely-tuned-into Twitter Space on July 6 .

Buterin, who co-founded Ethereum alongside eight other influential cryptocurrency developers, spoke at length with Bitcoin advocates Eric Wall and Udi Wertheimer about the technical and cultural nuances of either protocol.

I think theyre definitely different experiments in terms of the culture and unavoidable trade offs that theyre making and thats something that Ive only really come to realize over time.

Buterin believes there is great value in Bitcoin and Ethereum continuing to co-exist, while admitting he had separated the technical and cultural aspects as best he could

When I was starting with Ethereum I was looking at them as a kind of technical

systems and cultural systems somewhat separately. I had my beliefs on culture, that maximalism is crazy.

Buterin said he had focused on taking a system from Bitcoin, which was fairly basic, and creating a more programmable system that mirrors how computers evolved.

With technological and cultural aspects intermingled in the development of both Bitcoin and Ethereum, Buterin highlighted the inevitable trade-offs of these systems.

There are points at which you have to make certain choices. Like if you make a system that supports more functionality, then any kind of functionality that you support ends up having risks, right?

Buterin said that extensive functionality requires protocol complexity, but functionality itself can introduce risks to a blockchain system.

Thats an example of something that we saw during the last few years.

Ethereum, which originally employed Bitcoins proof-of-work consensus algorithm, shifted to proof-of-stake consensus in 2022 during the highly anticipated Merge.

The change in its core consensus protocol saw stakers introduced as the new miners of the network. Staking 32 ETH is required to be a validator, which then receives rewards for processing transactions and maintaining the network.

The change also caused a split within the Ethereum community as Buterin highlighted, referring to the Ethereum DAO fork of 2016 which caused a fork in the chain, leaving ETH as we know it today and Ethereum Classic (ETC) as two separate chains.

A lot of the people who were in favor of a more purist approach toward immutability ended up

going to Ethereum Classic and people who are much stronger proof of work proponents.

Buterin believes that many of the subtle choices made by both protocols in terms of functionality end up providing value and continue to co exist.

Theres just like a lot of these subtle choices that both platforms have made that like really go beyond the question of being general purpose or not trying to be general purpose?

Highlighting a plethora of differences between Bitcoin and Ethereum which ended up in either protocols choosing different trade offs down the line.

The result of all this is that we have these two different experiments that seem to me to be valuable. Im happy that theyre both continuing to exist.

Buterin added that both protocols can also be considered more honorable than overinflated scams that the cryptocurrency space has been littered with over the years.

I do think that there is a kind of core commitment to values in there that I think is valuable for the space to actually provide something that matters to people.

Another central theme emphasized by Buterin was the need for blockchain to move beyond its current limitations by prioritizing scalability:

We need to find ways to scale up blockchain systems to handle a larger number of transactions without sacrificing security or decentralization.

This sentiment echoes the growing consensus within the industry, as developers and innovators strive to enhance the capabilities of blockchain networks.

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Ethereum, Bitcoin Choose Different Tradeoffs But Both Are Valuable ... - CCN.com

Description

High-profile cryptocurrency founder Justin Sun drew attention today by making a significant transfer of Ethereum (ETH) coins. Data from the on-chain analytics platform Lookonchain reveals that Sun moved a staggering 23,000 ETH, equivalent to approximately $43 million, to Poloniex, a cryptocurrency exchange he owns. This kind of substantial funds movement isnt out of character for Read more

High-profile cryptocurrency founder Justin Sun drew attention today by making a significant transfer of Ethereum (ETH) coins. Data from the on-chain analytics platform Lookonchain reveals that Sun moved a staggering 23,000 ETH, equivalent to approximately $43 million, to Poloniex, a cryptocurrency exchange he owns.

This kind of substantial funds movement isnt out of character for Sun. As the founder of Tron and owner of multiple leading Web3.0 firms, he has his fingers in many pies in the crypto space. However, his recent movement of funds has led to speculations about its possible reasons.

There are speculations that Sun may be preparing to liquidate gradually, hoping to capitalize on Ethereums recent price surge. An investigation of his associated wallet address reveals that Sun is an active participant in the Decentralized Finance (DeFi) ecosystem, frequently partaking in staking activities that yield regular rewards. Since Poloniex supports staking, this latest move might be a strategy to stake the funds on his platform.

An alternate possibility relates to liquidity management at Poloniex. As Sun has direct oversight of the trading platform, ensuring sufficient liquidity to meet all customer orders is a priority. This recent Ethereum transfer could bolster the platforms liquidity reserves.

Despite these speculations, the fear of a massive sell-off spurred by Suns recent move might be unjustified. Indeed, Sun holds a whales share of various digital currencies, including Ethereum. However, even if he were to offload the entire 23,000 ETH, it might not significantly impact Ethereums market, which boasts a market capitalization of over $224 billion. Consequently, the potential fallout from such a sell-off might not be as severe as some fear.

As Suns significant Ethereum transfer has the crypto world buzzing, questions are being asked about whether its a savvy market strategy or an attempt to manage liquidity on his exchange. Only time will tell.

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Tron founder, Justin Sun, moves $43 million worth of Ethereum ... - Cryptopolitan

Polygon spin-off Avail unveiled its data attestation bridge to Ethereum, Friday, as it seeks to carve out a niche in Ethereums rollup-centric scaling roadmap.

Layer-2 rollups currently use Ethereum mainnet for posting their transaction data, which represents the majority of the transaction cost to users. These costs are expected to come down significantly following the next Ethereum upgrade Dencun later this year, which will implement EIP-4844.

Further scaling gains should be found higher up the stack, on layer-3 networks envisioned such as Arbitrum Orbit, or zkSyncs hyperchains. Thats where Avails solution will likely come in, Anurag Arjun, Avails co-founder, told Blockworks in an interview.

With computation with something like [zero-knowledge proofs], you are able to compress proofs, youre able to do recursive proofs and make it small, but with data, you cannot do it, Arjun said.

Right now, some early attempts make use of what are known as data availability committees (DACs), but in the future Avail or Celestia could provide a better alternative because they use a technique known as data availability sampling (DAS). Ethereums own implementation of DAS is still likely years away.

By enabling rollup constructions to run in validium, optimistic chains, and volition modes, we are not only reducing costs but also paving the way for a more inclusive and efficient layer-2 and layer-3 ecosystem, Arjun said in a statement.

There are some trade-offs in terms of security, but for the kinds of use cases that are most likely to require layer-3s, the cost, performance, and privacy concerns will make off-chain data availability options worth it, according to zkSync co-founder Alex Gluchowski.

Its very cheap, but you only have a partial inheritance of Ethereum security, Gluchowski said.

Avail opted to become an independent company outside of the Polygon product suite so that it could service all kinds of rollups, not only those from Polygon.

We wanted it to be more credibly neutral in that aspect because Avail is a general purpose base layer, Arjun told Blockworks.

The transition, completed about three months ago, saw Arjun leave his operational role at Polygon, which will now be one customer of many for the new firm.

Polygons PoS chain, which Polygon recently announced would morph into a zkEVM validium, will initially make use of its own validator set to provide data availability, but it could also use Avail in the future, Arjun said.

Avail is built using Polkadots Substrate technology due to its use of nominated proof-of-stake (nPOS) and tendency to facilitate wide distribution of stake.

Arjun observed from his experience with Tendermint consensus used by the Polygon PoS chain that there is a concentration of stake with a majority controlled by eight to 10 validators.

A new staking token, AVAIL, will facilitate a permissionless validator set of up to 1,000 validators.

Other than that, there is no connection to the Polkadot ecosystem. They may be able to help Polkadot build zk rollups on a Polkadot parachain using Avail, Arjun said, but this idea is very new and will require a lot of further development.

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Avail offers to bridge the data availability gap for Ethereum rollups - Blockworks