Weekly Reports: A Deep Dive into Crypto and NFT alphas
If you're looking to keep up with the fast-moving world of crypto and NFTs, The Alpha Report has got you covered.
Our weekly updates are put together by folks deep in the crypto scene, giving you a clear picture of what's happening without overwhelming you.
Learn about Ethereum Classic
Ethereum Classic News
The Landscape
Over the past few years, Decentralized Autonomous Organizations (DAOs) have become commonplace in cryptocurrency. Whether you discovered crypto through meme coins, NFTs, or DeFi, chances are you’ve interacted with a DAO somehow.
DAOs are organizational structures for businesses or communities where control is spread via the distribution of tokens rather than hierarchy. They’re typically online communities focused on a specific goal.
DAOs take many forms; some are light-hearted, like a group of s...
Coins
Barry Silbert, the founder and CEO of Digital Currency Group (DCG), has sold some of his Grayscale Ethereum Classic Trust (ETCG) shares, according to a recent SEC filing.
DCG is one of the largest crypto conglomerates on the market and counts Grayscale Investments, the trust’s issuer, as one of its subsidiaries.
According to the filing, Silbert has moved to liquidate nearly 120,000 ETCG shares, worth an aggregate market value of approximately $755,295 dollars. This also appears to be the first t...
Coins
As the crypto bear market continues to pull the price of digital assets lower, Ethereum Classic and Ravencoin, both potential post-merge havens for proof-of-work miners, are seeing double-digit losses.
The price of Ethereum Classic has fallen 23.4% in the week following the merge. The proof-of-work hardfork of the now proof-of-stake Ethereum saw the price of its coin drop from $38.93 on September 15, 2022, the day of the merge, to $29.39 today, according to data from CoinGecko.
Ethereum Classic'...
Business
After Ethereum’s successful merge, miners began switching their rigs to other blockchains.
Ethereum Classic (ETC), a hard fork of Ethereum executed following the 2016 DAO hack, saw its network hash jump nearly 300% from 66.54 terra hashes per second (TH/s) last night to 265.43 TH/s today, per data from 2miners.
The tremendous increase in hash rate can likely be attributed to the Ethereum merge earlier today.
Hash rate of ETH over the past 24 hours. Source: 2miners.
After the merge, Ethereum no...
Business
As Ethereum’s long-awaited upgrade nears, miners appear to be switching their rigs over to Ethereum Classic.
Ethereum is set to end mining on its network tonight following the merge, which transitions the network to proof of stake. Meanwhile, the “original” Ethereum chain—Ethereum Classic, which forked back in 2016—has hit an all-time high hash rate of 65.49 terahashes per second (TH/s), according to 2miners.com data.
Hash rate refers to the computational power used to mine a cryptocurrency. A...
Markets
Merge-related cryptocurrencies, including Ethereum (ETH), Ethereum Classic (ETC), and Lido Finance (Lido), have posted severe losses over the past 24 hours.
Ethereum dropped 8.82% over the past 24 hours and trades at around $1,515 after bouncing off from its support at $1,500 earlier today.
Ethereum is now down 68.95% from its all-time highs of $4,891.70 recorded in November 2021, per data from CoinMarketCap.
On a weekly note, ETH is down 4%, hitting a new weekly low after the months-long bull r...
Coins
Ethereum Classic (ETC), a hard fork of Ethereum executed following the 2016 DAO hack, hit an all-time high record hash rate of 48.82 terra hashes per second (TH/s) yesterday, per data from 2miners.
ETC, the native token of the Ethereum Classic network, has since jumped nearly 12% over the past 24 hours and trades at around $35.6, according to data from CoinMarketCap.
The coin has surged over 60% in the past 90 days from $21.40 to $35.6 today.
Hashrate is the total computational power used to m...
Coins
Holders of Ethereum Classic (ETC) are cautiously watching the mining activity of its blockchain, as the approaching merge of Ethereum (ETH) and its transition to the proof-of-stake consensus mechanism puts more attention on the six-year-old cryptocurrency.
The drastic jump in activity may signal a shift in focus for cryptocurrency miners. It could also reduce the risks of a so-called "51% attack" on ETC, which have been levied against the blockchain in the past.
The hash rate of the Ethereum Cla...
Coins
This week in coins. Illustration by Mitchell Preffer for Decrypt.
Despite the ongoing cypto bear market, many top cryptocurrencies posted double-digit percentage gains over the week.
Bitcoin had no such luck. Bitcoin only rose 5.5% over the last seven days and currently trades for $24,460 according to CoinMarketCap.
Ethereum rallied much harder. The No. 2 cryptocurrency and leading blockchain for high-functionality smart contracts is up 16% in the past week to $1,984 at the time of writing, a...
Coins
With anticipation building for the Ethereum merge next month, the price of Ethereum Classic (ETC) hit a four-month high of $42.29 per coin today, an increase of 15 percent in 24 hours, before settling slightly lower for the day, according to CoinMarketCap.
Ethereum Classic is a hard fork of the Ethereum blockchain co-founded by Vitalik Buterin and Gavin Wood. While both Ethereum forks point to 2015 as their launch, the Ethereum blockchain was rolled back and relaunched in 2016 after the hack of...
Coins
As Ethereum takes its final steps toward the merge—the network’s much-hyped move to proof of stake—an influential crypto miner is looking to create a movement to resist that transition.
Chandler Guo, a well-known Chinese crypto miner, has launched a campaign to fork the Ethereum blockchain and create a spinoff, proof-of-work version, according to a Twitter post last week.
In Ethereum’s current proof-of-work model, so-called “miners” can generate ETH by directing huge amounts of computer power at...
Coins
Ethereum Classic, a non-forked version of Ethereum, is enjoying a hefty rally early Wednesday morning.
Following the infamous DAO hack of 2016, Ethereum split into two blockchains: Ethereum, the second-largest cryptocurrency by market capitalization, and Ethereum Classic. The newly created chain is the currently used Ethereum network, and the hacked chain continues to operate as Ethereum Classic.
Importantly, the latter will not be merging to a proof-of-stake (PoS) consensus mechanism in Septem...
The Coins
Ethereum Classic is a smart contract platform and cryptocurrency. Ethereum Classic (ETC) shouldn’t be confused with Ethereum (ETH), even though they were the same until an argument led to divorce. Below we explore what led to the split.
What is Ethereum Classic?
Ethereum Classic is very similar to Ethereum because it shares a common origin. It's a blockchain that allows other applications to be built atop it. These decentralized applications, or dapps, use code known as smart contracts so that p...
Coins
XRP and Ethereum Classic both blew up 10% today, despite a 0.52% drop in the global market capitalization of cryptocurrencies.
XRP commands $59.13 billion of crypto’s $2.10 trillion global market cap, making it the seventh-largest cryptocurrency, according to data aggregator Nomics. It trades at a price of $1.27, having blown up 10.19% overnight. It peaked at $1.32 on Sunday, its highest price since May.
XRP’s rally has been building momentum over the last few days. On Friday it posted a 6% inc...
Markets
The wider cryptocurrency market continued to rise for a second straight day, with Ethereum Classic surging and Dfinity’s Internet Computer token again posting some of the largest gains.
Ethereum Classic (ETC), the cryptocurrency that split from the larger Ethereum blockchain following the infamous The DAO hack in 2016, is up more than 31% over the last 24 hours, data from CoinGecko shows, to a current price of $57, with its seven-day price increase topping 41%.
On Monday, Ethereum Classic develo...
Coins
Digital Currency Group (DCG) on Monday announced it would buy $50 million worth of ETCG—a stock owned by its subsidiary, Grayscale, that is a proxy for owning Ethereum Classic.
"DCG plans to use cash on hand to fund the purchases and will make the purchases on the open market, at management’s discretion," said the company in a statement announcing the purchase.
Grayscale is best known for its flagship product, the Grayscale Bitcoin Trust, which owns a massive amount of Bitcoin that it has packa...
Coins
Barely a week after setting its former all-time high of $44.80, Ethereum Classic has more than trebled in value. At 7 pm yesterday, the coin set an ATH of $157.30.
Though the price has since dipped to $142.18, Ethereum Classic has bulldozed its way into the top 20 cryptocurrencies by market capitalization.
At the start of the year, ETC was worth between $5 and $6. The coin has since steadily grown in value, but the bulk of its explosive price movement occurred over the past week.
Today, the co...
Coins
Ethereum Classic’s price surged overnight, sending the token into uncharted territory. In the last week, it has demolished its April 15 high of $38.43, ascending all the way to $97.24 today, according to data from Nomics.
But, depending on the exchange you use, you might be paying a lot more. On Coinbase, the price went as high as $149.75 before settling down into the $127 range—a full $35 more than on Binance and $12 more than on trading app Robinhood.
While the large price discrepancy is lik...
Coins
While the global market capitalization of cryptocurrencies took a 0.22% hit today, Ethereum Classic (ETC) has come out on top, surging 12.23% to reach an all-time high price of $44.80.
Meanwhile in a show of camaraderie, Ethereum (ETH) is also weathering the storm. It’s up 1.5% to trade at $2,877 a coin, no doubt hungrily chasing its own all-time high of $3,000.
Ethereum… Classic?!
Ethereum Classic is the original version of Ethereum. Ethereum, the more popular blockchain, forked from Ethereum...
DeFi
This isn’t a bridge to nowhere.
Ethereum Classic users will now have the option of a new bridge to the $13 billion DeFimarket with the launch of Wrapped Ethereum Classic tokens (WETC).
ETC users, who were previously unable to access the full array of non-custodial financial services available to ETH users, will now be able to stake their ETC holdings to gain entry into the world of decentralized finance, which currently exists predominantly on Ethereum.
The launch of WETC is aimed to provide...
