proof-of-work
Ethereum balance on crypto exchanges falls to lowest levels since 2018
The amount of Ethereum‘s native token Ether (ETH) kept with crypto exchanges has fallen to its lowest levels since September 2018, signaling traders‘ intention to hold the tokens in hopes of a price rally in 2022. Notably, nearly 550,000 ETH — worth around $1.61 billion — have left centralized trading platforms year-to-date, according to data provided by Glassnode. The massive outflow has reduced the exchanges‘ net-Ether balance to 21.72 million ETH, down from its record high of 31.68 million ETH in June 2020. Ethereum balance on all exchanges as of March 18, 2022. Source: Glassnode Biggest weekly ETH outflow since October 2021 Interestingly, over 30% of all Ether‘s withdrawals from exchanges witnessed in 2022 appeared earlier this week, data from IntoTheBlock shows. In detail, over 180,00...
European Parliament postpones crypto bill vote over proof-of-work
The parliament of the European Union is delaying a vote on a framework aimed at regulating cryptocurrencies amid concerns over proof-of-work mining. In a Friday Twitter thread, European Parliament economics committee member Stefan Berger said the government body had canceled a vote on the Markets in Crypto Assets, or MiCA, framework scheduled to take place on Monday. Berger said parliament needed to clarify “the question of proof-of-work” in discussions with stakeholders to ensure a proper legal framework, adding that some might misinterpret the proposal as a ban on crypto. “The discussion about MiCA indicates that individual passages of the draft report can be misinterpreted and understood as a [proof-of-work] ban,” said Berger. “It would be fatal if the EU Parliament sent the wrong signa...
