Last week, the core developers of Ethereum blockchain came with patches for Prysm Labs and Teku clients. As both of these blockchains were facing finality issues. In a tweet, a Ehereum developer has noted that the Beacon chain was having some “confirming transactions issues.” However, the new blocks could be proposed, while the un-identified issue prevented their finalization.
Notably, this outage continued for almost 25 minutes. Then just after that day, a similar issue once again occurred that prevented block finalization for more than an hour. Regarding the recent finality issues on the Ethereum beacon chain, the self-described Ethereum Beacon Chain community health consultant also shared a video.
Furthermore, Ben Edgington, the Founder and product Lead of the Teku ETH2 Client also noted about the issue in his tweet. As he wrote, “Lots of people asking how much ETH was burned by yesterday’s inactivity leak. Back of envelope (assumes 8 epoch leak, 65% validators offline): About 28 ETH (c. 0.0006 ETH/offline validator). However, attestation rewards were zero for the duration, so that’s ~50 ETH not issued.”
Ethereum (ETH) Price Analysis
At press time, the price of Ethereum (ETH) was trading at $1803.3, with a 0.40% surge in the last 24-hours. Similar to Bitcoin (BTC), ETH also shows bearish trends in its weekly and monthly price analysis. The second most traded cryptocurrency by market cap dropped by nearly 5% in recent 7-days, while noted almost 11% decrease in 1-month, according to Tradingview.
In the last 24-hours, ETH noted its low at $1788.48 while high was at $1810.38. It has 24-hour trading volume of $4.39 Billion, and has a current market cap of $221.54 Billion.
As shown in the above chart, the current trading price of ETH is above from its 100-day EMA. As the bulls just started showing their dominance, they try to push the ETH price upside. Meanwhile, this push may take the price near to its 50-day EMA. The RSI also started traveling upside in recent hours, as bulls started showing their strength.
It must be noted that currently, most of the cryptocurrencies are showing a bearish trend. According to CoinMarketCap, the global crypto market cap is $1.12 Trillion, a 0.01% decrease over the last day. Additionally, the total crypto market volume over the last 24 hours is $20.89 Billion, which makes a 37.14% decrease.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
Source: https://www.thecoinrepublic.com/2023/05/14/beacon-chain-update-on-ethereum-network-eth-price-analysis/