Ethereum (ETH) has remained stagnant at around $1,850 for several weeks, following Bitcoin's trajectory since the beginning of 2023. Despite this, data shows that the top 10 Ethereum addresses have continued to accumulate the cryptocurrency, now holding 34.6% of the total supply. However, since the Merge event in September 2022, ETH has lacked a major catalyst for price growth.

On August 10th, it was announced that the Ethereum zkWASM execution layer Fluent testnet is about to be launched. Applications for the early builder program have already been accepted. Fluent uses ZK Rollup technology to address performance and cost limitations, while reducing the learning curve for developers by using the Web Assembly (Wasm) virtual machine. It is also compatible with EVM and supports developers to build DApps using Rust, TypeScript, Solidity, and other languages.

On August 10th, the total amount of Ethereum staked on Lido has surpassed 8 million, reaching 8,022,346 ETH or approximately 14.855 billion USD at the time of writing. The Ethereum staking rewards paid out have reached 383,914 ETH or approximately 710 million USD, with the current Ethereum staking APR at 3.8%. Additionally, the total value of staked tokens on the Lido platform is approximately 15 billion USD.

Coinbase is set to launch its Base Network, a new Ethereum-compatible side chain that will utilize Optimism Rollups for faster transaction processing. While this may result in slightly slower transaction speeds, it will also provide a more secure process as transactions must be validated on chain. The launch of Base Network comes as a solution to Ethereum's congestion during high transaction volume periods.

PayPal's launch of the Ethereum-based stablecoin PYUSD has generated mixed reactions within the crypto community. While it presents an opportunity for Ethereum to gain mainstream adoption, concerns have been raised about potential threats to decentralization and personal asset control. The stablecoin, issued by Paxos Trust Co., aims to facilitate digital payments and Web3 applications. Some view this development as a positive step towards Ethereum becoming the monetary layer of the internet.

Paypal has introduced a new stablecoin named PYUSD, which is based on Ethereum. The crypto community has mixed reactions to this announcement, with some viewing it as a positive step towards Ethereum's mainstream adoption, while others are concerned about its potential impact on decentralization and personal control of assets. PYUSD is designed for digital payments and Web3, and will soon be available to US customers. However, some smart contract auditors have raised concerns about the centralization attack vector in the smart contract, and others have compared it to a censorship-enabled central bank digital currency.

The SEC has reportedly shared a list of 48 cryptocurrencies that it considers to be securities, according to a tweet by Chinese journalist Colin Wu. Notably, Bitcoin and Ethereum are not on this list. The SEC has been cracking down on cryptocurrencies, claiming that most digital tokens are unregistered securities. Ripple Labs and its XRP token were the first target of the SEC's securities agency, with the company accused of selling XRP as unregistered securities to investors.

According to reports, approximately $73.5 million worth of cryptocurrencies on Ethereum were stolen in the Curve Reentrancy exploit. As of now, 73% of the stolen funds ($52.3 million) have been returned.The remaining $19.7 million worth of cryptocurrencies on Ethereum have not yet been returned by the initial exploiter of the Curve CRV-ETH vulnerability (0xb752...b324).

The price of Bitcoin is currently hovering around $29K and there is speculation about what it will take to push it past $30K. Despite this, there are new developments in the crypto world and DeFi is still relevant. The article also includes CSS code for a responsive widget container and media queries for different screen sizes.

Base, the Ethereum Layer 2 scaling solution, is launching its mainnet on August 9, allowing developers to deploy applications and opening bridges for selected tokens. To celebrate the launch, Base is organizing "Onchain Summer," a month-long festival featuring art, music, gaming, and advocacy, with collaboration from major brands.

The MEV bot that drained over 6,000 Ether from the Curve Finance pETH-ETH pool has returned most of the funds to the JPEG'd deployer. The bot's address sent a message on the Ethereum blockchain to prove their email address was associated with the frontrunning bot, which led to negotiations and the partial return of funds. However, all other exploited funds are still under the control of the attacker who initiated the exploit, and the Curve team is attempting to get the rest of the funds returned. This is an ongoing story and more information will be provided as it becomes available.

The upcoming Cancun-Deneb upgrade on the Ethereum blockchain will enhance scalability and security. The Cancun upgrade includes 5 EIPs, including the eagerly awaited Proto-DankSharding, which will lay the groundwork for the full implementation of DankSharding. Other EIPs aim to decrease data storage costs, enhance cross-chain bridges and stake pools, and eliminate code that could terminate smart contracts.

The use of cryptocurrency has grown significantly in recent years, with many large companies adopting blockchain technology. While Bitcoin remains the most valuable and popular digital currency, other cryptocurrencies like Ethereum and Tether have also made an impact. This has resulted in more online platforms and physical stores accepting crypto payments, making transactions faster and more convenient for consumers.

ProShares has filed an application with the U.S. Securities and Exchange Commission (SEC) for an exchange-traded fund (ETF) focused on bitcoin and ethereum.According to the filing, the Bitcoin & Ether Equal Weight ETF will measure "the performance of holding long positions in the nearest maturing monthly bitcoin and ether futures contracts."If approved, the fund will measure "the performance of holding long positions in the nearest maturing monthly bitcoin and ether futures contracts."

According to a recent Web3 Development Report by Alchemy, web3 developer activity continued to grow in Q2, with Ethereum and crypto wallet SDKs seeing 26.8 million and 11.1 million installations, respectively. While the crypto market remains shaky due to regulatory pressure and economic uncertainty, the increase in developer activity is a promising sign for the industry.

Altcoin Sherpa, a pseudonymous trader, has identified Maker (MKR), an altcoin based on Ethereum, as having the potential to surge by almost 30% from its current price. The trader believes that MKR has shown "immense strength" in the current market environment and could reach above $1,700 if it overcomes the resistance level of around $1,330.

Optimism, a Layer 2 scaling solution built on top of Ethereum, has surpassed Arbitrum in daily transactions despite having a smaller total value locked. The growth in daily transactions has been attributed to increased use from Coinbase and Worldcoin, and the network is set to implement zero-knowledge proof systems. However, Arbitrum still dominates in decentralized finance applications such as Uniswap and AAVE. Optimism's ecosystem is set for advancements with proposals to implement zero-knowledge proof systems, and the increase in daily active addresses is promising for its continuous growth. Please note that this article is for general information purposes only and should not be taken as legal or investment advice.

The Twitter account of Ethereum developer Tim Beiko was suspected of being hacked to post a phishing link related to an ETH airdrop. Users were warned not to click on any suspicious links. This incident joins a recent string of Twitter account hacks in the crypto community, prompting security experts to remind users to enable two-factor authentication with Google Authenticator.

New Bitcoin City, a platform built on the Bitcoin blockchain, has launched games that offer payouts on wins and NFT auctions. The developers aim to expand the usage of Bitcoin beyond trading and investments and make it more generalized. The platform also includes a marketplace and uses a layer 2 network called NOS to combat Bitcoin's slow transactional speeds. The introduction of BRC-20 standards has allowed developers to issue tokens and build DeFi applications on Bitcoin, leading to the development of digital artwork and meme coins. The developers believe that combining the best of both worlds, Ethereum and Bitcoin, is the way forward.

According to a popular crypto analyst, Dogecoin (DOGE) may experience a significant downward movement after its strong performance last month. The analyst, known as Rekt Capital, believes that DOGE appears bearish after failing to break through the resistance of a falling wedge pattern. In the worst-case scenario, DOGE could drop to the diagonal support of the pattern at around $0.055. Rekt Capital also shares insights on Bitcoin, Ethereum, and TomoChain, stating that BTC is still bullish, ETH needs to stay above $1,863 to rally above $2,000, and TOMO may be poised for a correction after closing below its high timeframe resistance at $1.60.