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How Daniel Roseberry became the internet’s favorite fashion designer – The Washington Post

October 10, 2023 at 9:00 a.m. EDT

American fashion designer Daniel Roseberry, the creative director of the French haute couture house Schiaparelli. (Alejandra Loaiza/for The Washington Post)

Designer Daniel Roseberry, creative director of the Parisian couture house Schiaparelli, is a simple man behind some of the strangest clothes anyone is making today.

Plain-spoken and cinema-star handsome, his fashion fantasy world is sweeping, uncomplicated and bubblegum. The clothes that come out of it are irresistible to anyone who learned about fashion not by attending fashion shows or reading magazines or wearing extraordinary garments, but by inhaling images of ridiculous and extravagant runways of the 1990s and 80s online.

His designs rise to the wildest dreams of his stans. In his Spring 2024 collection, for example, there was a black fringe top that fanned out at the neck like overly mascaraed lashes, a column skirt ruched down the center with a white life-size lobster at its crotch and Kendall Jenner in a bouffant with her hands on her hips. (The looks were so rich that the stans seem to find Jenner a letdown: its not serving, went the general consensus.)

Such outrageous clothes have made him the internets favorite fashion designer. Search his name on X, the platform formerly known as Twitter, and youll find countless posts singing his praises: daniel roseberry can do no wrong, bro daniel roseberrys MIND! he does it again!!! and, most frequently, some variation of the following: he is genius and a daddy.

Fashion fans pore over images of his new shows like the Beyhive pines for visuals and Swifties hunt for Easter eggs an affinity he embraces.

What I am trying to do is to create the fashion equivalent of pop music, Roseberry says, perched on a creamy sofa in the salon of Schiaparellis Paris couture house on the Place Vendome, the day after his ready-to-wear show last month. My mantra recently has been, What is the hook? If this look was a song, how do I get it to be as visually captivating or catchy or universally appealing as a Taylor Swift song?

He calls young fashion fans absolutely like, my number one priority. Nine times out of 10, whenever I get stopped on the street, its a student. Any theyre the ones who Im thinking about. Like, what would they love to see? Because their love of fashion is so pure.

Roseberry, 38, says he wants his fashion to be universal. What he doesnt mean is palatable but ridiculous, opulent, triumphant, fantastical. Like the hit songs he venerates, his clothes are ubiquitous despite the fact that his primary output, his handmade couture clothes, are made for just a handful of clients and even if youve never heard his name or that of the brand he designs for, youve almost certainly seen his work, and probably been perplexed, repulsed, seduced, delighted or all of the above. In an era defined by a beguiling abundance of fashion, his clothes may be the only ones that embody both the self-seriousness and hilarity of high fashion.

At President Bidens January 2021 inauguration, Lady Gaga performed in a fitted navy cashmere jacket and voluminous red skirt with a comically huge gold dove pin, a custom Schiaparelli look.

In January of this year, at the couture show in Paris, musician Doja Cat had her entire body covered in red paint and tens of thousands of crystals. The idea was, well hed run out of money. Halfway through designing the collection, whose theme was Dantes Inferno, he realized he didnt have the budget to design a devil.

Really, I started to strategically say, Okay, actually the front row is an extension of the show now. Our press budget is a different budget. He reached out to Dojas team and in an hour, he said, they were like, Done. Were doing this. Doja arrived nearly six hours before the show began to have herself covered in crystals by makeup artist Pat McGrath.

On a viewership level and an engagement level, he says, that was insane.

Most infamously, at that same show, he dressed Kylie Jenner in a fitted black gown with a life-size (and frighteningly lifelike) lions head on the bust. Naomi Campbell and Irina Shayk walked in the show in similar ensembles depicting a wolf and snow leopard, respectively.

The looks went viral, with a number of outlets questioning whether they were in poor taste. Some critics read them as goofy satires of fashions obsession with fur and other unethical materials; others denounced them as horrifying or just ugly. The hysteria continued for days, with several outlets claiming that the dresses promoted trophy hunting.

Roseberry anticipated shock and surprise, but not the vitriol: T.B.Q.H not at all, he says. Though some couture customers placed orders for the pieces, the owners of the house Italian fashion magnate Diego Della Valles Tods Group, which acquired the brand in 2007 had them placed in storage, and declined to fill the orders. They didnt want to reignite the drama, Roseberry says.

He thinks the controversy stemmed from their realism that if theyd been five percent more cartoonish or had been covered in diamonds, they would not have been a problem. It was the fact that they were so f---ing perfect.

I am so proud of them, he continues. Because in my mind, we touched on something that was truly taboo. Remember that meme that was like, a gold dress or a blue dress? It was like that. It wasnt about gender. It wasnt about race. It wasnt about class. It was literally there was nothing there. Nothing! But still, it was so appalling to certain people, and other people were so sensationalized. They loved that we caused a harmless scandal.

The dresses encapsulate Roseberrys brilliance: He has somehow combined two of the lowest common denominators in fashion memes and celebrity into a fabulous art form.

Roseberry emerged at a moment when high fashion and celebrity converged, and haute couture went pop. Designers spent much of the 1990s and 2000s politely courting actors and musicians, working with stylists to carefully reduce their runway creations to something more obvious and flattering.

But Roseberry had a prescience that couture, even if it caters to just a handful of clients, could speak to the masses, by creating viral runway spectacles and convincing celebrities to partake. These days, the ideal, especially for anyone famous under 40, is not to look sober, slim and tasteful in your Armani column gown, but to wink at and bait the online audience that is eager to mint memes from a designers output.

It was on the top of my list when I started to bring some sense of awe back to the red carpet, he says. I really wanted to install something that felt a bit reckless.

More recently, Roseberry has cultivated a ready-to-wear business that capitalizes on the mania around his couture. (His show in September, as a part of Paris Fashion Week, was ready-to-wear; couture is shown during a separate set of fashion weeks in January and July.)

Those clothes sell on Schiaparellis site and at a shop-in-shop at Bergdorfs and Neiman Marcus, the luxury stores parent department store.

Theres been an incredible, incredible response to it, says Linda Fargo, the snow-haired fashion director of Bergdorf Goodman. His bags and jewelry sell as reliably as his dresses and evening jackets.

I dont think in my career Ive seen this kind of appetite and excitement over something thats very unique. This is not wallflower clothing were talking about, Fargo says. These are statement pieces. And theyre statements that are not for everyone.

What makes Schiaparelli stand out is not merely its shock value but the exceptional quality, Fargo says. It is one of the rare lines that merges the technique and feeling of couture with ready-to-wear, she explains. Its rather scarce. You dont see these pieces everywhere.

Because his clothing is so crazy grotesque, shocking, freakish but also just plain beautiful observers have a tendency to project big ideas onto Roseberrys work where there arent any. Perhaps that is a source of its power and appeal that it stands up to any level of intellectual scrutiny you want to apply to it.

Natasha Lyonne began wearing Roseberrys clothes around the time of the release of Russian Doll, her explosive, boundary-melting artwork about a woman who dies over and over again that plunked the ambition of a Louis Buuel film into a streaming Netflix series.

Really what youre talking about is world-building, Lyonne says. How do you break space-time and how do you do it in a way that is comedic, but that sort of transcends that, so that people can meet you at whatever level youre at? There are jokes and existential inquisitions for viewers versed in quantum physics and a beautiful relationship for those who arent.

I see what Daniel does as very similar, she says. If you want a gorgeous, incredibly crafted garment that will make a womans body look incredible, then there is the perfect outfit for you. But if you want to wear that garment a level deeper and be in the mind of Andr Breton as youre walking around, then by golly, youre welcome to do that.

On the surface, at least, Roseberrys madness goes back to the houses founder, Elsa Schiaparelli. Fashion designers are often judged within their industry by the degree to which they reinterpret the codes of their founder: Does the current head of Saint Laurent capture Yves Saint Laurents androgynous cool? How does Hedi Slimane modernize the bourgeois tastefulness of Celines original designs? Yet Roseberry has a much different relationship to the woman behind the house he oversees, which she founded in 1927 and ran in the very space on the Place Vendome where Roseberry now works.

Ive never read her memoir, he says, referring to her 1954 book, Shocking Life.

I know very little about her isms. I cannot quote her except for one, which I love. She said, No one knows how to say Schiaparelli, but everyone knows what it means. That really stuck with me.

Their origin myths couldnt be more different. He grew up in an evangelical Christian family in Plano, Tex., and joined the house from Thom Browne, where he was design director.

Schiaparelli was an Italian aristocrat who palled around with Surrealists and Dadaists. Schiaparelli was considered a rival and foil to Coco Chanel; while Chanel was radically reducing womens fashion to align it with the modernist movement sweeping art and literature, she was more interested in how fashion could subvert the very conceits of tastefulness, flattery and glamour.

If Roseberrys clothes are surrealist, it is in their unexpected jumble of imagery an effect that seems more a reflection of the way images are transmitted in the 21st century than genuine avant-garde design.

Roseberry is more innocent even intent on protecting a naivet that allows him to produce his works of gleeful madness.

I dont go to fashion parties because I know that the cool crowd, they would be so disappointed if they met me. Because I am not I am, I am so not cool like that. And Elsa strikes me as a person who was like that. She was quotable. She was fabulous, he says. She was like, intimidating. And I dont really emotionally connect with people like that. I connect with the tender side.

He still seems to design from the place of a young person sitting in their room, music blasting, posters on the walls, bathed in their influences, their imagination running wild. When the output is shaped primarily not by the pursuit of originality but by enthusiasm. If he likes something he sees from another designers archive Jean Paul Gaultiers cone bras, say, or Christian Lacroixs operatic volumes hell simply use it in his own collections, like a pop star covering her idols hits. If runway gags feel cynical from other designers, Roseberrys read like mischief and play. I think it comes from a really tender place in me, and thats the hardest place to access and the hardest place to preserve.

Im always thinking what would a little kid want to reach out and touch? he continues. And that just feels so deep to me. So deep. So much deeper than the highbrow over-intellectualized fashion that other people do. Its also something that feels like a uniquely American kid culture experience. And when you recontextualize those things like Janet [Jackson], Michael [Jackson], Jurassic Park, Taylor [Swift] in the context of couture, theres a chemical reaction. And I think its very similar to Elsa being some wackadoo Italian coming in and taking a p--- all over the au courant Chanel-isms of the day.

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Hubbard Excitons Caltech Physics Discovery Could Lead to … – SciTechDaily

Caltech researchers have discovered Hubbard excitons, which are excitons bound magnetically, offering new avenues for exciton-based technological applications.

In art, the negative space in a painting can be just as important as the painting itself. Something similar is true in insulating materials, where the empty spaces left behind by missing electrons play a crucial role in determining the materials properties. When a negatively charged electron is excited by light, it leaves behind a positive hole. Because the hole and the electron are oppositely charged, they are attracted to each other and form a bond. The resulting pair, which is short-lived, is known as an exciton [pronounced exit-tawn].

Excitons are integral to many technologies, such as solar panels, photodetectors, and sensors. They are also a key part of light-emitting diodes found in televisions and digital display screens. In most cases, the exciton pairs are bound by electrical, or electrostatic, forces, also known as Coulomb interactions.

Now, in a new study published in Nature Physics, Caltech researchers report detecting excitons that are not bound via Coulomb forces but rather by magnetism. This is the first experiment to detect how these so-called Hubbard excitons, named after the late physicist John Hubbard, form in real time.

In materials known as antiferromagnetic Mott insulators, electrons (orbs) are organized in a lattice structure of atoms such that their spins point up (blue) or down (pink) in an alternating pattern. This is a stable state in which the energy is minimized. When the material is hit with light, an electron will hop to a neighboring atomic site, leaving a positively charged hole where it once resided (dark orb). If the electron and hole move further apart from each other, the spin arrangement between them becomes disturbedthe spins are no longer pointing in opposite directions to their neighbors as seen in the second paneland this costs energy. To avoid this energy penalty, the electron and hole prefer to remain close to each other. This is the magnetic binding mechanism underlying the Hubbard exciton. Credit: Caltech

Using an advanced spectroscopic probe, we were able to observe in real-time the generation and decay of magnetically bound excitons, the Hubbard excitons, says study lead author Omar Mehio (PhD 23), a recent graduate student at Caltech who worked with David Hsieh, the Donald A. Glaser Professor of Physics at Caltech. Mehio is now a postdoctoral fellow at the Kavli Institute at Cornell.

In most insulators, oppositely charged electrons and holes interact with one another just as an electron and a proton bind to form a hydrogen atom, Mehio explains. However, in a special class of materials known as Mott insulators, the photo-excited electrons and holes instead bind through magnetic interactions.

Omar Mehio. Credit: Caltech

The results could have applications in the development of new exciton-related technologies, or excitonics, in which the excitons would be manipulated through their magnetic properties.

Hubbard excitons and their magnetic binding mechanism demonstrate a drastic departure from the paradigms of traditional excitonics, creating the opportunity to develop a whole ecosystem of novel technologies that are fundamentally unavailable in conventional excitonic systems, Mehio says. Having excitons and magnetism strongly intertwined in a single material could lead to new technologies that harness both properties.

To create the Hubbard excitons, the researchers applied light to a type of insulating material known as an antiferromagnetic Mott insulator. These are magnetic materials in which the electron spins are aligned in a repeating, stable pattern. The light excites the electrons, which jump to other atoms, leaving holes behind.

In these materials, when an electron or hole moves through the lattice, they leave in their wake a string of magnetic excitations, Mehio says. Imagine you tie one end of an elastic rope around your friend, and the other end around yourself. If your friend runs away from you, you will feel the rope pull you in that direction and you will begin to follow. This scenario is analogous to what happens between a photo-excited electron and the hole it leaves behind in a Mott insulator. With Hubbard excitons, the string of magnetic excitations between the pair serves the same role as the rope connecting you to your friend.

David Hsieh. Credit: Caltech

To demonstrate the existence of the Hubbard excitons, the researchers used a method called ultrafast time-domain terahertz spectroscopy, which allowed them to look for the very short-lived signatures of the excitons at very low-energy scales.

Excitons are unstable because the electrons want to go back into the holes, Hsieh explains. We have a way of probing the short time window before this recombination occurs, and that allowed us to see that a fluid of Hubbard excitons is transiently stabilized.

Reference: A Hubbard exciton fluid in a photo-doped antiferromagnetic Mott insulator by Omar Mehio, Xinwei Li, Honglie Ning, Zala Lenari, Yuchen Han, Michael Buchhold, Zach Porter, Nicholas J. Laurita, Stephen D. Wilson and David Hsieh, 14 September 2023, Nature Physics.DOI: 10.1038/s41567-023-02204-2

The study was funded by the Army Research Office, the David and Lucile Packard Foundation, the National Science Foundation, Caltechs Institute for Quantum Information and Matter (an NSF Physics Frontiers Center), Caltech, the German Research Foundation, the Gordon and Betty Moore Foundation, and the Slovenian Research Agency. Other authors include Xinwei Li, Honglie Ning (PhD 23), and Nicholas Laurita, all formerly of Caltech; Caltech graduate student Yuchen Han; Zala Lenari of the Jozef Stefan Institute in Slovenia and UC Berkeley; Michael Buchhold of the University of Cologne in Germany (and a former Caltech postdoc); and Zach Porter and Stephen Wilson of UC Santa Barbara.

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Challenging Long-Held Assumptions: New Research Reveals How … – SciTechDaily

Researchers discovered the significant impact of nuclear spin on biological processes, specifically oxygen dynamics in chiral environments. This breakthrough could revolutionize biotechnology, quantum biology, isotope separation, and NMR technology. Credit: PNAS

A research team led by Prof. Yossi Paltiel at the Hebrew University of Jerusalem with groups from HUJI, Weizmann, and IST Austria recently conducted a study unveiling the significant influence of nuclear spin on biological activities. This discovery challenges long-held assumptions and opens up exciting possibilities for advancements in biotechnology and quantum biology.

Scientists have long believed that nuclear spin had no impact on biological processes. However, recent research has shown that certain isotopes behave differently due to their nuclear spin. The team focused on stable oxygen isotopes (16O, 17O, 18O) and found that nuclear spin significantly affects oxygen dynamics in chiral environments, particularly in its transport.

Prof. Yossi Paltiel, Hebrew University. Credit: Hebrew University of Jerusalem

The findings, published in the prestigiousProceedings of the National Academy of Sciences (PNAS), have potential implications for controlled isotope separation and could revolutionize nuclear magnetic resonance (NMR) technology.

Prof. Yossi Paltiel, the lead researcher, expressed excitement about the significance of these findings. He stated, Our research demonstrates that nuclear spin plays a crucial role in biological processes, suggesting that its manipulation could lead to groundbreaking applications in biotechnology and quantum biology. This could potentially revolutionize isotopic fractionation processes and unlock new possibilities in fields such as NMR.

Researchers have been studying the strange behavior of tiny particles in living things, funding some places where quantum effects change biological processes. For example studying bird navigation quantum effects may help some birds find their way in long journeys. In plants efficiently using sunlight for energy is affected by quantum effects.

This connection between the tiny world of particles and living beings likely goes back billions of years when life began and molecules with a special shape called chirality appeared. Chirality is important because only molecules with the right shape can do the jobs they need to in living things.

The link between chirality quantum mechanics was found in spin, which is like a tiny magnetic property. Chiral molecules can interact differently with particles based on their spin, creating something called Chiral Induced Spin Selectivity (CISS).

Scientists have found that spin affects tiny particles, like electrons, in living processes involving chiral molecules. They wanted to see if spin also affects larger particles, like ions and molecules which supply the base for biological transport. So, they did experiments with water particles that have different spins. The results showed that spin influences how water behaves in cells, entering at different speeds and reacting in a unique way when chiral molecules are involved.

This study highlights the importance of spin in the processes of life. Understanding and controlling spin could have a big impact on how living things work. It might also help improve medical imaging and create new ways to treat illnesses.

Reference: Nuclear spin effects in biological processes by Ofek Vardi, Naama Maroudas-Sklare, Yuval Kolodny, Artem Volosniev, Amijai Saragovi, Nir Galili, Stav Ferrera, Areg Ghazaryan, Nir Yuran, Hagit P. Affek, Boaz Luz, Yonaton Goldsmith, Nir Keren, Shira Yochelis, Itay Halevy, Mikhail Lemeshko and Yossi Paltiel, 31 July 2023, Proceedings of the National Academy of Sciences.DOI: 10.1073/pnas.2300828120

The research was a collaborative effort among scientists from various institutions, including the Institute of Earth Sciences and Life Sciences in Hebrew and the Weizmann Institute, with the study led by the Department of Applied Physics at Hebrew University.

Funding:NMS acknowledges the support of the Ministry of Energy, Israel, as part of the scholarship program for graduate students in the fields of energy. ML acknowledges support by the European Research Council (ERC) Starting Grant No. 801770 (ANGULON).

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Research shows how topology can help create magnetism at higher temperatures – Phys.org

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Researchers who have been working for years to understand electron arrangement and magnetism in certain semimetals have been frustrated by the fact that the materials only display magnetic properties if they are cooled to just a few degrees above absolute zero.

A new MIT study led by Mingda Li, associate professor of nuclear science and engineering, and co-authored by Nathan Drucker, a graduate research assistant in MIT's Quantum Measurement Group and Ph.D. student in applied physics at Harvard University, along with Thanh Nguyen and Phum Siriviboon, MIT graduate students working in the Quantum Measurement Group, is challenging that conventional wisdom.

The open-access research, published in Nature Communications, for the first time shows evidence that topology can stabilize magnetic ordering, even well above the magnetic transition temperaturethe point at which magnetism normally breaks down.

"The analogy I like to use to describe why this works is to imagine a river filled with logs, which represent the magnetic moments in the material," says Drucker, who served as the first author of the paper. "For magnetism to work, you need all those logs pointing in the same direction, or to have a certain pattern to them. But at high temperatures, the magnetic moments are all oriented in different directions, like the logs would be in a river, and magnetism breaks down.

"But what's important in this study is that it's actually the water that's changing," he continues. "What we showed is that, if you change the properties of the water itself, rather than the logs, you can change how the logs interact with each other, which results in magnetism."

In essence, Li says, the paper reveals how topological structures known as Weyl nodes found in CeAlGean exotic semi-metal composed of cerium, aluminum and germaniumcan significantly increase the working temperature for magnetic devices, opening the door to a wide range of applications.

While they are already being used to build sensors, gyroscopes, and more, topological materials have been eyed for a wide range of additional applications, from microelectronics to thermoelectric and catalytic devices. By demonstrating a method for maintaining magnetism at significantly higher temperatures, the study opens the door to even more possibilities, Nguyen says.

"There are so many opportunities people have demonstratedin this material and other topological materials," he says. "What this shows is a general way that can significantly improve the working temperature for these materials," adds Siriviboon.

That "quite surprising and counterintuitive" result will have substantial impact on future work on topological materials, adds Linda Ye, assistant professor of physics in Caltech's Division of Physics, Mathematics and Astronomy.

"The discovery by Drucker and collaborators is intriguing and important," says Ye, who was not involved in the research. "Their work suggests that electronic topological nodes not only play a role in stabilizing static magnetic orders, but more broadly they can be at play in the generation of magnetic fluctuations. A natural implication from this is that influences from topological Weyl states on materials can extend far beyond what was previously believed."

Princeton University professor of physics Andrei Bernevig agrees, called the findings "puzzling and remarkable."

"Weyls nodes are known to be topologically protected, but the influence of this protection on the thermodynamic properties of a phase is not well understood," says Andrei Bernevig, who was not involved in the work. "The paper by the MIT group shows that short-range order, above the ordering temperature, is governed by a nesting wave vector between the Weyl fermions that appear in this system possibly suggesting that the protection of the Weyl nodes somehow influences magnetic fluctuations!"

While the surprising results challenge the long-held understanding of magnetism and topology, they are the result, Li says, of careful experimentation and the team's willingness to explore areas which otherwise might go overlooked.

"The assumption had been that there was nothing new to find above the magnetic transition temperature," Li explains. "We used five different experimental approaches and were able to create this comprehensive story in a consistent way and put this puzzle together."

To demonstrate the presence of magnetism at higher temperature, the team began by combining cerium, aluminum, and germanium in a furnace to form millimeter-sized crystals of the material.

Those samples were then subjected to a battery of tests, including thermal and electrical conductivity tests, each of which revealed a clue to the material's unusual magnetic behavior.

"But we also undertook some more exotic methods to test this material," Drucker says. "We hit the material with a beam of X-rays which was calibrated to the same energy level as the cerium in the material, and then measured how that beam scattered.

"Those tests had to be done in a very large facility, in a Department of Energy national lab," he continues. "Ultimately, we had to do similar experiments at three different national labs to show that there is this hidden order there, and that's how we found the strongest evidence."

Part of the challenge, Nguyen says, is that conducting such experiments on topological materials is typically very difficult to do and usually provides only indirect evidence.

"In this case, what we did was conduct several experiments using different probes, and by putting them all together, that gives us a very comprehensive story," he says. "In this case it's five or six different clues, and a big list of instruments and measurements that played into this study."

Going forward, Li says, the team plans to explore whether the relationship between topology and magnetism can be demonstrated in other materials.

"We believe this principle is general," he says. "So we think this may be present in many other materials, which is exciting because it expands our understanding of what topology can do. We know it can play a role in increasing conductivity, and now we've shown it can play a role in magnetism as well."

Additional future work, Li says, will also address possible applications for topological materials, including their use in thermoelectric devices which convert heat into electricity. While such devices have already been used to power small devices, like watches, they are not yet efficient enough to provide power for cellphones or other, larger devices.

"We have studied many good thermoelectric materials, and they are all topological materials," Li says. "If they can show this performance with magnetism they will unlock very good thermoelectric properties. For example, this will help them to run at a higher temperature. Right now, many only run at very low temperatures to collect waste heat. A very natural consequence of this would be their ability to work at higher temperatures."

Ultimately, Drucker says, the research points to the fact that, while topological semimetals have been studied for a number of years, relatively little is understood about their properties.

"I think our work highlights the fact that, when you look over these different scales and use different experiments to study some of these materials, there are in fact some of these really important thermoelectric and electrical and magnetic properties that start to emerge," Drucker says.

"So, I think it also gives a hint not only towards how we can use these things for different applications, but also towards other fundamental studies to follow up on how we can better understand these effects of thermal fluctuations."

More information: Nathan C. Drucker et al, Topology stabilized fluctuations in a magnetic nodal semimetal, Nature Communications (2023). DOI: 10.1038/s41467-023-40765-1. http://www.nature.com/articles/s41467-023-40765-1

Journal information: Nature Communications

This story is republished courtesy of MIT News (web.mit.edu/newsoffice/), a popular site that covers news about MIT research, innovation and teaching.

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Ether Slides as Ethereum Foundation Swaps $2.7M ETH on Uniswap – CoinDesk

Ether prices slipped some 1.5% in the past few hours as traders seemed to react to a wallet apparently belonging to the Ethereum Foundation that sold a portion of its allocated tokens.

Wallet 0x9eE457023bB3De16D51A003a247BaEaD7fce313D swapped over 1,700 ETH for $2.7 million in USDC on Monday, Arkham data shows. The wallet is tagged as a Grant Provider on blockchain tracker Etherscan and holds nearly $400,000 worth of tokens as of Monday morning.

As of writing time, the Ethereum Foundation did not publicly reveal specifics of what it intended to do with the proceeds. Traders reacted to the move nevertheless, with ETH extending losses to 1.8% in the past 24 hours to leading a slide slump among major tokens.

The Ethereum Foundation develops applications and programs for the Ethereum network, but isnt an official entity or a centralized group that controls what happens on the chain. However, it remains very influential and can impact token prices or Ethereums inherent outlook among investors or developers.

As of April 2022, it held over almost $1.29 billion in ether (ETH), which represented over 0.297% of the total ether supply at the time, and about $300 million in non-crypto investments.

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Crypto Analyst Predicts More Rallies for Ethereum-Based Altcoin, Says Crazy Moves Ahead for Bitcoin (BTC) – The Daily Hodl

A closely followed crypto strategist says more rallies are likely in sight for a low-cap altcoin running on the Ethereum (ETH) blockchain.

Pseudonymous analyst Altcoin Sherpa tells his 196,700 followers on the social media platform X that the native asset of the image-synthesizing ecosystem Render Network (RNDR) is likely due for a 33% rally from its current level.

The trader shares a chart showing how RNDR has converted its previous resistance at $1.80 into support with multiple exponential moving averages buoying the Ethereum-based altcoins uptrend.

RNDR trade going well. Going to be selling all the way up to $2.40.

At time of writing, RNDR is trading for $1.80, down over 2% in the last 24 hours.

Looking at Bitcoin (BTC), Altcoin Sherpa says that the flagship crypto could witness a notable surge in volatility toward the end of the year. The crypto strategist lays out two scenarios for Bitcoin both of which depend on how BTC reacts should it hit $30,000.

BTC: where the next high is set is extremely key. If we hit some sort of lower high around $30,000 and die, were going to go to the low $20,000, in my opinion.

If we break past $32,000, this probably goes to like $40,000.

In other words, this is how I sort of envision it going down. Probably going to be a lot of crazy moves over the next four-ish months. Should be fun.

At time of writing, Bitcoin is worth $27,980.

Generated Image: Midjourney

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Ethereum is ‘much more centralized than folks realize’: Blocknative’s Matt Cutler – Blockworks

Blocknative discontinued its MEV-boost relayer service on Ethereum last week. While other relayers do remain, a large majority of Ethereum transactions are now handled by just four entities.

Relayers are responsible for bridging transactions between block builders and proposers. Without relayers, the network would face delays in transaction confirmations, reduced efficiency and potential bottlenecks, disrupting the smooth processing of transactions.

This development not only raises centralization concerns, but also underscores one of Ethereums central obstacles post-Merge: Relayers are providing costly services without compensation.

Blockworks: Some funding approaches would solicit community donations to reward relayers while keeping the service free. Why didnt you buy into these sorts of funding models?

Cutler: Were a US-based entity, and that means OFAC SDN is a fact of life for us. We work very hard to be ecosystem aligned, and there are a lot of hard line stances as it relates to OFAC SDN compliance. A number of the public goods funding approaches that were being discussed for relays explicitly carved out relays that were OFAC SDN compliant, and I had some in-depth conversations with [Ethereum Foundation] core devs who basically felt that this was a black and white issue.

By the way, each infraction of OFAC SDN is up to a $30 million fine and up to 30 years in jail, right? And each transaction can be considered an infraction. So its like infinite liability. We were put in a sort of a rock and a hard place situation where we couldnt satisfy both.

Blockworks: Were you told OFAC compliance would keep you from receiving funds from community relayer funds that are currently in the works?

Cutler: While this was a topic of active discussion, specifically we never got that far. I think from our perspective this is really not about covering our costs. I mean, certainly the costs are substantial, but you know were trying to build a business here. And so just keeping the lights on and maybe not even paying for engineer salaries doesnt really cut it. Were trying to drive growth, right?

Blockworks: One argument made against more baked-in revenue creation for relays is that charging fees creates a slippery slope where fees increase and users find ways to circumvent relays. What would you say to this?

Cutler: There is no other part of core Ethereum infrastructure which is really funded as a public good, maybe other than consensus clients, and theyre funded pretty heavily. So why do we pass the hat for something which is operationally required?

I was always an advocate for what I call missed slot insurance. Theres many examples of relays, including Blocknative, making staking pools pull due to missed slots. My answer was there should be a hard fee with a hard benefit. The hard fee is youre gonna pay into an insurance pool, and in the event where the relay network doesnt do its job, you can expect missed slot insurance. OK, conversely, if youre using a relay which is not part of the structure, you cannot expect insurance, but this is the bargain.

Really what the network wants from the relay network is not competition. It wants utility. I flip on the light switch, and the lights come on, and I sort of understand that theres a whole set of people who might be involved in delivering the power, but I dont want to think about any of that. I dont want to hear that, like, the oil came out of the ground in Bahrain and then got put on a boat that got caught up in the Suez Canal, and you gotta call the boat company. Youre like, no, I just want the lights to go on, right? Youre receiving this massive benefit from our operations, and there should be some sort of fee structure thats associated with it.

Blockworks: To zoom out for a second, why do relayers matter for Ethereum and the worldview its trying to advance?

Cutler: The whole idea is were building the foundation of the next economy thats fundamentally more equitable than the existing system, and maybe its inevitable we recreate it, right? Thats something that is concerning to me.

At the relayer network, we now have four entities two in the US, two in Europe that relay 93% of all the blocks on Ethereum. Theres no explicit economic incentive, therefore there are implicit economic incentives that are opaque. There are all sorts of economic incentives to do things like colocation and theres all sorts of backroom deals that are possible and may even be happening right now. The network is much more centralized than folks realize and is on a trend to become more centralized. Its going in the wrong direction, and hey, Blocknative exiting, we can decide if this is a good or a bad thing or if its a non event, but theres no question its now more centralized this week than it was last week.

This interview has been edited for brevity and clarity.

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Ethereum is 'much more centralized than folks realize': Blocknative's Matt Cutler - Blockworks

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Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC to dip, taking altcoins with it – FXStreet

Bitcoin (BTC) price shows weakness as it approaches a key hurdle. Rejection for BTC could prompt altcoins like Ethereum (ETH) and Ripple (XRP) to crash lower as well.

Also read:Bitcoin Weekly Forecast: BTC bearish fractal forecasts correction to $25,000

Bitcoin (BTC) price attempted to extend the 2023 rally but failed to overcome the $25,166 to $31,804 ranges midpoint at $28,485. Currently, the Relative Strength Index (RSI) and Awesome Oscillator (AO) indicators show a slowdown in bullish momentum and the potential for a build-up of bearish momentum.

But since the momentum indicators have not flipped bearish yet, investors can expect another dead cat bounce to $30,500 before kick-starting a downtrend. This move would collect the buy-stop liquidity resting above the swing highs formed between August 8 and July 20.

Post liquidity run, BTC could trigger a sell-off that retests the $24,808 support level, a breakdown of which could send it down to the $21,351 foothold.

BTC/USDT 1-day chart

On the other hand, if Bitcoin price flips the $30,000 psychological level into a support floor, it will invalidate the bearish thesis and attract sidelined buyers. In such a case, BTC could attempt to sweep the range high at $31,804.

Ethereum (ETH) price sits above the $1,073 to $2,023 ranges midpoint at $1,551. But the RSI and AO indicators have already breached their respective mean levels of 50 and 0, suggesting a surge in bearish momentum.

Going forward, investors can expect Ethereum price to revisit the next support level of $1,309.

Read More:Ethereum price tests crucial support at $1,570 as ETH becomes a polarizing topic

ETH/USDT 1-day chart

Regardless of the bearish signs, if external factors like news or macro events produce a strong bullish spike, it could shift the winds quickly. In such a case, if Ethereum price flips the $1,727 hurdle into a support floor, it will invalidate the bearish outlook. This move could further propel ETH to retest the $2,030 hurdle.

Ripple (XRP) price trades above the $0.500 support level and could slip below it soon, considering Bitcoins position. In such a case, XRP could fall back on the $0.469 and $0.420 support levels.

With no drivers like the Ripple lawsuit to push Ripple price higher, XRP is likely to keep sliding lower. In some situations, the altcoin could eye a sweep of the sell-side liquidity resting below swing lows formed between March 22 and May 11 at $0.411 and $0.406, respectively.

The RSI is close to slipping below the mean level of 50, and AO is close to breaching the zero level, further adding proof to Ripples bearish outlook.

XRP/USDT 1-day chart

On the other hand, if Ripple price flips the $0.540 hurdle into a support level, it will create a higher high and invalidate the bearish thesis. In such a case, XRP price could be suspended for the foreseeable future between the $0.540 and $0.668 levels.

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Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC to dip, taking altcoins with it - FXStreet

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3 reasons why Ethereum price can’t break $2K – Cointelegraph

The price of Ethereums native token, Ether (ETH), has gained around 35% in 2023 so far. But its attempts to break above $2,000, a psychological resistance level, have witnessed strong bearish rejections multiple times.

Cointelegraph takes a closer look at the three likely reasons why Ethereum price has failed to decisively retake $2,000 since May 2022.

Ethereums inability to cross above $2,000 in 2023 resembles the bearish rejection near $425 from 2018 to 2019.

In both cases, Ether appears to be in a recovery phase while eying close above its 0.236 Fib line of the Fibonacci retracement graph.

From 2018 to 2019, the 0.236 Fib line was near $425 and was instrumental in limiting Ethers recovery attempts. In 2023, the same line is near $2,000, enforcing itself again as a selling area and, thus, pressuring ETHs price lower.

A strengthening United States dollar has dampened demand for Ethereum in recent months, thus reducing its ability to close decisively above $2,000.

The prevailing negative correlation between top cryptocurrencies and the dollar has been the main culprit. In 2023, in particular, the weekly correlation coefficient between Ether and the U.S. Dollar Index (DXY) has been consistently negative, as shown below.

Meanwhile, Ethereum has largely underperformed Bitcoin in 2023 due to the ongoing spot Bitcoin ETF hype. For instance, the widely-tracked ETH/BTC pair is down 20% year-to-date.

Additionally, the net capital held by Ethereum-tied investment funds has dropped by $114 million so far in 2023, according to CoinShares weekly report. In comparison, Bitcoin-based funds have attracted $168 million in the same period.

Related:Time to pull the brakes on Ethereum and rotate back to Bitcoin: K33 report

The total value locked (TVL) across the Ethereum ecosystem has dropped from 18.41 million ETH to 12.79 million ETH so far in 2023. That underscores a reduced availability of funds, resulting in lower yields for investors, as JP Morgan analysts also warned recently.

The declining TVL has accompanied a drop in the Ethereum networks gas fees, which reached a yearly low on Oct. 5.

Ethereums NFT volumes and unique active wallets have also dropped by 30% and 16.5% in the last 30 days, according to DappRadar.

That includes declines in the key metrics of popular apps, including decentralized exchange Uniswap v2, DEX aggregator 1inch Network, Ethereum staking providerLidoand others.

Ethereum price technicals meanwhile show a potential rebound toward its 50-day exponential moving average (50-day EMA; the red wave) near $1,665.

However, looking broadly, ETH/USD has been paining a bearish continuation pattern called an ascending triangle.

As a result, a break below the triangles lower trendline risks crashing the price by as much as the patterns maximum height. In this case, ETHs price can drop to $1,465 and $1,560 in October 2023, depending on the breakdown point.

In the short term, a break above the 50-day EMA could have ETHs price rise toward the triangles upper trendline near $1,730 in October 2023, coinciding with the 200-day EMA (the blue wave).

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

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3 reasons why Ethereum price can't break $2K - Cointelegraph

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Why Ethereum, Dogecoin, and Bitcoin Cash Slumped Today – The Motley Fool

What happened

A divergence appears to be building, at least in Monday's price action, between certain top cryptocurrencies and the broader equity market. While most risk assets declined in morning trading Monday in response to surging oil prices and an escalating conflict in the Middle East, equities recovered during the afternoon, with crypto assets underperforming.

As of 3 p.m. ET, Ethereum(ETH -1.11%),Dogecoin(DOGE -0.05%), and Bitcoin Cash(BCH -2.82%) had declined 3.3%, 3.6%, and 5.1%, respectively, over the prior 24 hours.

Ethereum's decline appeared to have been driven by more than just macroeconomic factors. News that the Ethereum Foundation (which supports development and innovation on the Ethereum blockchain) had swapped $2.7 million worth of Ethereum for stablecoin USDC(USDC -0.00%) on Monday sent the token lower. While swaps like this have been seen in the past, and are used by the Ethereum Foundation as a way to cover costs, sell-offs typically follow such transactions. This was the case once again on Monday.

Interestingly, both Bitcoin Cash and Dogecoin appear to be increasingly seeing intraday moves that are more correlated with the overall market. Monday's outsized moves in both these tokens indicate investors may be viewing them as ways to play momentum in either direction in the crypto sector. In other words, Dogecoin's status as a meme token and Bitcoin Cash's status as a higher-volatility token could be viewed by traders as making them opportune ways to gain leverage to broader crypto market moves in the near term.

It's rarely good news to see one of the most sophisticated developers in the crypto sector selling assets to cover its operating costs. And while that's not necessarily a novel concept for investors who follow Ethereum, the market's reaction to this sale speaks volumes about what I think could be a shifting narrative around the sustainability of this space.

For those looking at the crypto sector as a way to diversify their portfolios, investing in tokens tied to projects that continue to invest in themselves continues to be a good idea. In that regard, this move by the Ethereum Foundation may be viewed in a positive light by those who believe that most of the innovation in this sector continues to come from this blockchain.

For traders and speculators looking to play the broader moves in this sector (driven by Ethereum and Bitcoin, primarily), altcoins and higher-leverage tokens will always be around to trade. That said, if I had to pick one of these tokens to buy on Monday's decline, it would have to be Ethereum. That's partly because of the aforementioned continued reinvestment into the network's technology, as well as the fact that Ethereum has typically headed higher again in the wake of previous Ethereum Foundation sales.

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Why Ethereum, Dogecoin, and Bitcoin Cash Slumped Today - The Motley Fool

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