Ethereum has been on a rally for the past week, moving from a two-month low at $1,700 to its current level at $3,223. Several factors have pushed the crypto market into a new rally, but most seem to gravitate around ETH and its ecosystem. After the implementation of EIP-1559, Ethereum’s native token became a deflationary
Ethereum
Ethereum is the second-largest cryptocurrency in the market. Its popularity has led to a number of integrations to make transactions easier for its users. Even upgrades like ETH 2.0 are working towards this same goal. Ethereum wallets are not hard to get or operate, as long as one understands how cryptocurrencies work. But instead of
On-chain data shows massive Ethereum outflows of 60k ETH on spot exchanges. Such deeply negative netflows could be a bullish signal for the coin. Ethereum All Exchanges Netflow Shows Huge Negative Spike As pointed out by a CryptoQuant post, the Ethereum all exchanges netflow showed a negative spike yesterday as 60k ETH exited exchanges. The
Ethereum has resumed its upwards trends in the past hour, as the U.S. Federal Reserves Chair Jerome Powell hints at an extension on their economic stimulus policies. At the time of writing, ETH’s price trades at $3,252 with a 4.4% profit in the daily chart. The bulls returned to the market after almost 3 months
Proof-of-stake protocols were designed to encourage users to lock up their coins, but synthetic assets are circumventing that design to allow double-dipping in DeFi. One of Forbes’ 30 Under 30 in Asia, Tushar Aggarwal wears many hats: He started the crypto podcast Decrypt Asia, works as a venture scout with LuneX Ventures, and runs Persistence,
The amount of Ether (ETH) held by all cryptocurrency exchanges has declined dramatically in the previous 12 months. Blockchain analytics firm CryptoQuant reported that Ethereum reserves on trading platforms dropped 26.29 million ETH to 19.22 million ETH year-on-year (YoY), indicating that traders’ preference to hold their tokens increased. At least the Ether price performance in
American tech giant Microsoft has won a blockchain-related patent for techniques for implementing a cross-chain token management system. The United States Patent and Trademark Office (USPTO), the agency granted the patent to Microsoft’s subsidiary Microsoft Technology Licensing on Aug. 24. Filed in February 2019, the patent describes a “ledger-independent token service,” or a software service
Recently, the Ethereum network reached a new staking milestone. On Aug. 17, the Ethereum 2.0 staking contract became the single largest holder of Ether (ETH), surpassing Wrapped Ether (WETH). According to data from Etherscan, the Eth2 deposit contract now holds over 7.14 million Ether tokens, valued at $23 billion at the time of writing. This
The wider crypto market has a wait-and-see feel to it on Aug. 25 as the price of Bitcoin (BTC) dipped to $47,360 before rebounding off the lower support of the ascending channel to reclaim the $48,000 level. Despite the swift turnaround, analysts are still wary and well-known financial analyst John Bollinger warned investors that it
Ether (ETH) will face a critical $820 million monthly options expiry on Friday, Aug. 27. That will be the first time that $3,000 and higher options will have a real fighting chance, even though bulls seem to have missed a good opportunity to dominate the expiry because they were too optimistic about Ether’s price potential.
The United States Securities and Exchange Commission is likely to approve a Bitcoin (BTC) futures exchange-traded fund (ETF) by the end of October, according to Bloomberg ETF experts. Bloomberg ETF analysts Eric Balchunas and James Seyffart issued an investor note on Tuesday suggesting that last week’s abrupt withdrawals of Ether (ETH) futures ETF proposals by VanEck and
Ether (ETH) price rallied 32% leading up to August 23, and despite testing the $3,000 support multiple times, the level has held firmly. Meanwhile, Bitcoin (BTC) could not sustain the $50,000 mark, at least in the short-term. According to Cointelegraph, pro traders are not yet inclined to add bullish positions according to derivatives metrics. Surprisingly,
Ethereum makes up a large part of crypto-asset manager Grayscale’s portfolio. In a recent report, it shows that Grayscale now has over 3 million ETH in its asset under management (AUM), amounting to more than $10 billion. This makes the asset manager one of the largest holders of Ethereum in the space. Related Reading | Crypto
Bitcoin (BTC) rallied above the psychological hurdle at $50,000 today for the first time since May 15. The sharp rally of the past few days has turned the sentiment bullish with many expecting the resumption of the bull run. Morgan Creek Digital co-founder Anthony Pompliano told CNBC on Monday that Bitcoin could make a blow-off
Vitalik Buterin, creator of Ethereum commented through Bloomberg on Square and Facebook’s blockchain efforts. Recall that Jack Dorsey, CEO of Twitter and Square, revealed his plans for a DeFi platform based on Bitcoin in July. He said the platform would be a competitor to Ethereum. Reacting to Dorsey’s announcement, Buterin stated his skepticism for the
With decentralized finance and nonfungible tokens seeing a meteoric, rise it’s easy to believe crypto apps are finally breaking through. But is there actually real user growth, or is it just the same influencers moving from one hyped market to the next? We sought to answer this puzzle and identify what it means for the