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Evan Cheng, a tech expert, CEO of Mysten Labs, slammed the Ethereum Virtual Machine (EVM) as a “fundamentally broken” design. Cheng suggested the only fix to the EVM’s “design tech debt” would be “shooting it in the head and start over.” Notably, Evan Cheng previously worked at Apple and, then, as Head of Research and Development at Novi and Technical Director of Meta – showing an impressive tech curriculum, now in charge of developing the Sui Network (SUI), an Ethereum (ETH) competitor. In a video, shared by Mysten Labs co-founder Adeniyi Abiodun, the CEO technically explains why the EVM design is broken. At the same time, Abiodun supported his colleague, writing this is why they “never prioritized EVM compatibility when building Sui.” Picks for you Are traders heavily shorting Bitcoin? 29 mins ago ...

A closely followed crypto strategist believes that one red-hot memecoin may have more upside potential. Pseudonymous analyst Altcoin Sherpa tells his 217,600 followers on the social media platform X that PepeCoin (PEPECOIN) could retrace to a key level before resuming an uptrend. “Strong PepeCoin is doing well right now, showing a lot of strength. To be determined if this is going to continue momentum, but watch out for the 200-day EMA (exponential moving average) around here. $2.30ish would be a decent entry in the short term. I have a bag.” Source: Altcoin Sherpa/X PepeCoin is trading for $2.97 at time of writing, a gain of more than 27,000% since October 13th, 2023 when it was worth $0.01088. Next up, the analyst compares the price chart of Synapse (SYN), a protocol that aims to enable secure cross-chain communication, to the price chart of the smart contract platform Sui Network (SUI). He suggests SYN may be forming a similar SUI pattern and cou...