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Crypto News: Huge pile of Ethereum claimed by whale after 4 years

Crypto News: Huge pile of Ethereum claimed by whale after 4 years

Welcome to another new crypto news summary. All the important news and events within the world of cryptocurrency from last week are summarized for you below so that you are completely up to date again before you head into the weekend.

Do you want to know what news there was within the world of cryptocurrency this week? Then read on quickly!

Huge pile of Ethereum claimed by whale after 4 years

A huge mountain of Ethereum (ETH) that has been stuck for years on Ethereum Name Service (ENS), which is a domain name service for Ethereum addresses, has finally been claimed by a whale named 'darkmarket.eth'. The wallet in question has been inactive since November 2021, but this week it returned to action on the blockchain.

A lot of ether is still locked in this old registry today, this was also the case for darkmarket.eth. Lookonchain announced on Twitter that darkmarket.eth has claimed a total of 39,172 ETH, at the current ETH rate this equates to a value of almost $74 million.

Nick Johnson, founder of ENS, revealed through a tweet that tens of thousands of ethers are still locked up on the protocol.

PancakeSwap performs update and rewards users

The popular decentralised exchange PancakeSwap (CAKE) was brought to life on the BNB Chain in 2020. Since then, PancakeSwap can be accessed on as many as 6 blockchains, including Ethereum (ETH) and Polygon zkEVM. PancakeSwap's native token, CAKE, now gains additional utility as holders will receive a share of the trading fees generated.

The launch of PancakeSwap's 'Revenue Sharing Pool' was announced on 30 July. Holders of CAKE can stake it to receive five per cent of the trading fees paid from all PancakeSwap v3 pairs on a weekly basis. These v3 pairs account for between 80 and 90 per cent of all trading volume on the DEX.

The Revenue Sharing Programme will start from 9 August and applies to all blockchains that PancakeSwap runs on. Users with CAKE tokens in their possession were already able to stake them in order to receive a return, but with this update, the tokens can generate more returns at the bottom line.

Bitcoin Ordinals development enters new phase

Bitcoin (BTC) Ordinals is expanding the network's capabilities through inscriptions on the blockchain. To take the development of the protocol to the next level, a non-profit organisation has been launched by the team behind Bitcoin Ordinals.

Earlier this week, the launch of the so-called 'Open Ordinals Institute' was brought out. This non-profit organisation, based in California, will support the development of Bitcoin Ordinals by funding the core group of developers, including the project's pseudonymous lead administrator, Raph.