The cryptocurrency industry offers many attractive strategies for long-term investors, including staking. Staking allows you to earn rewards while you retain ownership of your assets. This is particularly true on Solayer, a prominent staking platform for Solana ($SOL). Recently, Solayer experienced a surge of activity from a certain group of investors—whales—who have been directing capital into Solana’s ecosystem. One whale, identified by the address H1zFM…kcEAe, pledged 39,344 $SOL (worth $7.61 million) onto the platform in just the past 24 hours. H1zFM…kcEAe now ranks as the fourth largest individual staker on Solayer. With the Solana network’s growth, whales are staked on

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Solana-based restaking and liquid staking could follow the explosive growth trajectory of Ethereum’s liquid staking ecosystem.

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Ethereum price followed the broader crypto market sell-off, but its longer term price weakness is driven by network-specific factors.

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ETH price struggles to find reasons to rally after the network’s DApp volumes drop and Ether languishes near the $2,250 support.

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The Re-Staking ecosystem is experiencing rapid growth, with Eigen Layer at the forefront. As of June 14, 2023, Eigen Layer boasts a total value locked (TVL) of $15.03 billion, dominating the market with 69% of its TVL in WETH. Its early launch and successful $150 million fundraising have solidified its market position. A newcomer to the scene, Symbiotic, launched on June 11, 2024, has already raised nearly $1 billion in TVL. This meteoric rise is fueled by $5.8 million in fundraising, with WSTETH accounting for 74% of its TVL. The rapid growth of Symbiotic underscores its potential and the increasing

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EigenLayer, an Ethereum protocol, is reshaping the landscape of restaking by introducing innovative features that streamline the process for users.  Unlike traditional staking methods that require a minimum of 32 ETH, EigenLayer enables users to deposit liquid staking tokens like Lido stETH, Rocket Pool ETH, and Coinbase Wrapped Staked ETH, simplifying the restaking process significantly. EigenLayer is a pioneering protocol on Ethereum that revolutionizes the concept of restaking. Restaking refers to the ability to utilize staked ETH on other protocols, thereby earning protocol fees and rewards while assuming additional slashing risks. This innovative approach… pic.twitter.com/p2EzJGWQwo — Slim Daddy𓃵 ₿ (@felixreads)

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Despite a slight recovery, Ethereum price has been marked by significant sell-offs in the past 24 hours, with the token currently trading above the $2300 mark. In a notable transaction, a large whale identified as 0x6f6…1723d initiated a sell-off of $WBTC and $ETH amounting to US$7.14 million. The whale withdrew 33.6 WBTC and 2,500 ETH from Aave and Lido, respectively, before selling them on the chain. The proceeds from the sale were then used to repay the loan in Aave. Additionally, recent reports indicate that Cumberland DRW received 1,000 ETH, valued at 2.3 million US dollars, from the Alameda Research

The post Ethereum Experiences Price Volatility Amid Sell-Off Reports, Records New Staking High appeared first on The Merkle News.

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Lazarus members posed as engineers and fooled exchange employees into downloading difficult-to-detect malware.

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