The overall cryptocurrency market has experienced notable selling pressure following the release of the United States CPI data. Amid this market downturn, the legendary and veteran trader Peter Brandt has gained significant attention from the crypto community as he shared a bearish outlook for Ethereum (ETH). Peter Brandt’s Ethereum Price Prediction Recently, Peter shared a …
The overall cryptocurrency market has experienced notable selling pressure following the release of the United States CPI data. Amid this market downturn, the legendary and veteran trader Peter Brandt has gained significant attention from the crypto community as he shared a bearish outlook for Ethereum (ETH). Peter Brandt’s Ethereum Price Prediction Recently, Peter shared a …
Ethereum's projected price surge in 2024 could significantly enhance its role in decentralized finance, despite mixed ETF sentiment.
The post Analysts forecast Ethereum to reach $6,000 in 2024 appeared first on Crypto Briefing.
Recently, a panel set by the British Columbia Securities Commission (BCSC) found crypto exchange ezBtc responsible of defrauding users of CAD 13 million in Bitcoin (BTC) and Ether (ETH) between 2016 and 2029. The exchange’s founder misappropriated the funds and caused “actual loss” to investors. Related Reading: $365 Million Crypto Scam: South Korean CEO Indicted […]
The EOF proposal is a series of smaller EIPs that include measures aimed at updating and improving the Ethereum Virtual Machine (EVM), the programming environment that executes smart contracts on the blockchain, and arguably Ethereum’s secret sauce that made it different from Bitcoin and other early distributed networks at the time it launched in 2015.
Over the last year or so, since crypto prices began bouncing strongly from late Q3 2024, interest has spiked, drawing attention to low-fee and scalable alternatives to Ethereum. These blockchains, mainly Solana, allow users to deploy smart contracts cheaply, all while remaining trustless and, to some extent, reliable. Bot Activity Is Not After All Bad–Here’s […]
As historically proven, the start of an altcoin season, or ‘altseason,’ a period marked by the strong performance of alternative cryptocurrencies relative to Bitcoin, often begins following a significant increase in BTC’s price. This phenomenon has been elaborated recently by Arthur Hayes, the co-founder of BitMEX and Chief Investment Officer at Maelstrom Fund, who has now shared the specific time when the alt season for this cycle could begin. Related Reading: Is Now the Time to Buy Bitcoin? Top Analysts Predict $150K Surge On The Horizon Bitcoin And Ethereum: Key Price Targets To Kickstart Altcoin Season In Hayes’ latest substack blog post “Water, Water, Every Where,” the BitMEX co-founder suggests that certain key price marks for Bitcoin and Ethereum hold the key to altcoins commencing their next major rally. Hayes emphasizes that for altcoins to embark on a bullish trend, Bitcoin and Ethereum must surpass significant psychological barriers. According to the BitMEX co-founder, Bitcoin must break above $70,000, and Ethereum must exceed $4,000 to set the stage for a broader altcoin rally. These levels are seen as crucial for restoring investor confidence and enabling a flow of capital into smaller-cap coins. Hayes particularly noted: Alt szn will return only after Bitcoin and Ether decidedly break through $70,000 and $4,000, respectively. Solana will also climb over $250, but the crypto market-wide wealth effect of a Solana pump is nowhere near as potent as with Bitcoin and Ether, given the relative market caps. The combination of a dollar liquidity-inspired Bitcoin and Ether rally into year-end will create a strong foundation for the return of a sexy shitcoin soiree. The Potential Catalysts In addition to his alt season start-off forecast, the BitMEX co-founder disclosed some potential catalysts that could play a major role in these upcoming market rallies. Hayes connected these imminent market movements to macroeconomic factors, specifically the issuance of US Treasury bills (T-bills). He argues that these could introduce new liquidity into the crypto markets, propelling Bitcoin towards the $100,000 mark within this cycle. This anticipated flow of funds is expected to benefit Bitcoin and have a significant positive impact on Ethereum and, by extension, the broader altcoin market. Related Reading: Ethereum Price Gains Strength, Outpaces Bitcoin With An 8% Surge Hayes also commented on the upcoming US election and the likely impact on the crypto market. Referring to it as “a coin toss,” the BitMEX co-founder said that with the election in early November and Yellen being at “peak manipulation in October, there will be no better time for liquidity this year.” He added: Therefore, I shall sell into strength. I will not liquidate my entire crypto portfolio but take profits in my more speculative momentum trades. At the end of the note, the BitMEX co-founder touched on the US debts and reiterated his $1 million prediction on Bitcoin, noting: Once the US debt ceiling charade is over, liquidity will gush from the Treasury and possibly the Fed to get markets back on track. Then, the bull market will begin for realz. $1 million Bitcoin is still my base case. Featured image created with DALL-E, Chart from TradingView
Ethereum and Solana registered net inflows last week despite a price correction among most cryptocurrencies. According to the most recent Digital Asset Fund Flows Weekly Report published by CoinShares, the cumulative inflows into these investment products reached an impressive $176 million over the week. This positive trend was consistent across all regions, with each registering […]
After enduring a significant downturn at the beginning of the past week, Ethereum (ETH), the second-largest cryptocurrency, has staged a modest recovery, reclaiming the crucial $2,600 level and setting its sights on the $3,000 milestone once again. The August 5 crash, which saw Ethereum’s price plummet to $2,112, marked the year’s largest market slump. However, the digital asset has since bounced back, 8% in the last seven days, hinting at the possibility of a more sustained bullish trend. Massive Ethereum Liquidations Trigger Bullish Signals According to a recent report by market analytics firm CryptoQuant on the ETH’s price action, the chart below highlights a substantial liquidation of long perpetual positions on the futures market experienced during last week’s crash. The firm notes that in sustained bull markets, such a significant liquidation event is often followed by a major price rally as the futures market stabilizes and spot buying pressure takes over. Related Reading: Legendary Fibonacci Extension Reveals When Bitcoin Will Reach $109,000 “The recent cascade has triggered massive long liquidations, reaching levels not seen since November 2022,” the firm noted. “This substantial liquidation likely indicates a cooling of the futures market, where many leveraged positions have been flushed out. Such a development can set the stage for renewed interest in the futures market.” With the futures market potentially resetting, CryptoQuant believes that if demand returns, Ethereum could be poised for another impulsive bullish surge in the longer term that could send prices above previous all-time high levels. ETH’s Price Path To $3,000 Crypto analyst Caleb Franzen echoed a similar prediction for ETH’s price in a social media post on the X platform (formerly Twitter), suggesting that if Ethereum can take out the $2,725 level, it could signal a strong move higher. Franzen’s analysis of the 4-hour candles and market structure indicates a series of higher lows and a bullish reading on the supertrend indicators, further fueling the optimism surrounding Ethereum’s future performance. Related Reading: Bitcoin Investors Again Show Extreme Fear As BTC Slips To $59,000 However, with ETH currently trading at $2,645, the first resistance on the ETH/USDT weekly chart, located at the $2,700 level, has proven to be the first hurdle for the second-largest cryptocurrency to overcome in recent days. In a scenario where the current rally extends into the coming weeks and the ETH price tackles the level highlighted by Franzen, the $2,900 and $2,990 resistance walls would be the last obstacles to reclaim the $3,000 level. Conversely, the token will need to secure and consolidate above the $2,550 level to prevent further declines toward the next support on the daily chart, currently located at the $2,345 level following its 25% correction. Featured image from DALL-E, chart from TradingView.com
As Ethereum’s presence in smart contracts nears the 40% threshold, the scarcity of this cryptocurrency is becoming more evident. However, recent market trends paint a complex picture for ETH enthusiasts. Ethereum’s Growing Scarcity The increasing allocation of Ethereum into smart contracts signifies a tightening supply. With nearly 40% of ETH now locked in these contracts, …
On 12th August, Fidelity’s “FETH” recorded the highest inflow of $4 Million, followed by Bitwise’s “ETHW” with $2.9 Million, and Franklin’s “EZET” with $1 Million. Notably, Grayscale’s “ETHE” has recorded a neutral outflow for the first time over the past 24 hours. Moreover, 5 out of 9 ETH ETFs have recorded a neutral flow. Conversely, …
Ethereum is pushing higher, as shown in the daily chart. After last week’s dip and recovery, the second most valuable coin is up nearly 25% from August lows. If buyers take charge today, clearing and closing above $2,600, as is currently the case, it could anchor the base of another uptick toward $3,300 in a […]
The S&P 500 Index is extending its recovery, boosting buying in Bitcoin and select altcoins in the near term.
Ethereum has struggled greatly underneath the bearish pressure that has been mounted on the crypto market over the last few weeks. The ETH price suffered multiple crashes that sent it toward $2,000 once more, shattering the expectations for a new all-time high in the third quarter. However, this decline may only be short-lived as one crypto analyst has suggested that the Ethereum price could be getting ready for another rally that could push it toward its previous highs. Ethereum Looking Promising On 1-Week Chart Crypto analyst RLinda has posted a promising analysis on the Ethereum price on the TradingView website. This analysis focuses on the ETH price on the one-week chart, which has maintained bullishness despite the crash. This follows the continuous accumulation from the low $2,000s level as the price recovers. Related Reading: Bitcoin Exchange Outflows Soar To Yearly High – Could This Fuel A Return To $70,000? The crypto analyst highlights that Ethereum is seeing buyback from the market following the crash. This suggests bullishness among investors despite the price remaining low at this point. As for the chart, the analyst points out that “a very promising technical situation is forming on W1.” RLinda proposes that there could be a number of promising conditions forming if the ETH price were to return to its global sideways range. In this case, the crypto analyst believes that Ethereum could be seeing a good cause to jump toward the $4,000-$4,800 range. Amid all of this, the crypto analyst maintains that the background for Ethereum is still quite bullish. “The liquidation (strong downward movement) and the subsequent active buyback indicates that the market is free of unnecessary traders and the train can now move in the right direction, it remains to get to the key station before departure,” RLinda stated. Key Levels To Watch The Ethereum price being bullish is positive for the cryptocurrency. However, there are still various important levels to watch that serve as important levels for the cryptocurrency to achieve this goal. This includes both support and resistance levels along the way. Related Reading: Celsius Takes Legal Action Against Tether In $2.4 Bitcoin Collateral Controversy In this case, RLinda places significant attention not he $2,717-$2,817 resistance area. Mainly, these areas serve as the most important resistance levels in this drive upward. According to the analyst, beating this resistance and forming support will provide the ETH price a promising liquidity target above $4,000. A full rundown of the resistance levels is $2,717 and $2,817, while the major support levels from here include $2,518, $2,425, and $2,400. RLinda believes that the whales’ Ethereum buyback shows that major players are still bullish. “After Friday’s test and pullback, the price is back to the level, which increases the chances of a breakout,” the crypto analyst said in closing. Featured image created with Dall.E, chart from Tradingview.com
The overall market has experienced a significant price drop across all the major cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) in recent days. Amid this market downturn, Ethereum (ETH) the world’s second-biggest cryptocurrency has formed a bullish price action pattern on the 4-hour time frame. Ethereum’s Ascending Triangle Pattern In the past week, …
The median price to send an Ethereum transaction hit 1.9 gwei on the weekend, with low-priority transactions priced even lower.
Ethereum price started a downside correction from the $2,700 zone. ETH is now consolidating and struggling to stay above the $2,500 support. Ethereum started a downside correction below the $2,650 and $2,620 levels. The price is trading below $2,650 and the 100-hourly Simple Moving Average. There was a break below a connecting bullish trend line with support at $2,620 on the hourly chart of ETH/USD (data feed via Kraken). The pair could rise again if it stays above the $2,550 support zone. Ethereum Price Trims Gains And Revisit $2,550 Ethereum price struggled to extend gains above the $2,700 resistance zone. ETH started a downside correction below the $2,650 level like Bitcoin. There was a move below the $2,620 and $2,600 levels. The price declined below the 23.6% Fib retracement level of the upward move from the $2,311 swing low to the $2,722 high. Besides, there was a break below a connecting bullish trend line with support at $2,620 on the hourly chart of ETH/USD. Ethereum price is now trading below $2,650 and the 100-hourly Simple Moving Average. However, the bulls are trying to protect more downsides below the $2,500 support zone. If there is another increase, the price might face hurdles near the $2,600 level and the 100-hourly Simple Moving Average. The first major resistance is near the $2,625 level. A close above the $2,625 level might send Ether toward the $2,700 resistance. The next key resistance is near $2,720. An upside break above the $2,720 resistance might send the price higher toward the $2,880 resistance zone in the near term. More Downsides In ETH? If Ethereum fails to clear the $2,625 resistance, it could continue to move down. Initial support on the downside is near $2,520 and the 50% Fib retracement level of the upward move from the $2,311 swing low to the $2,722 high. The first major support sits near the $2,500 zone. A clear move below the $2,500 support might push the price toward $2,450. Any more losses might send the price toward the $2,320 support level in the near term. The next key support sits at $2,250. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $2,500 Major Resistance Level – $2,625
Cronos is currently riding the bullish wave, seeing significant gains despite the momentum of the general market slowing down. According to Coingecko, the token is up more than 12% since last week, going against the grain of the general market momentum. Related Reading: Ethereum Vs. Solana: Legendary Trader Peter Brandt Reveals The ‘Clear Winner’ This week, Cronos has spurred investor interest as it creates momentum for its upcoming Cronos zkEVM mainnet alpha launch on August 15th. Cronos zkEVM Set To Launch With Major Partners The official Cronos X account has announced that the mainnet of its upcoming Cronos zkEVM will be released in its alpha stage on August 15 next week. This will be the platform’s dedicated layer 2 for Ethereum, leveraging Ethereum’s security while maintaining Cronos chain interoperability. The Cronos zkEVM public mainnet (alpha) launch date is targeted for August 15. Cronos’ newest, future-proof blockchain network is almost ready to go live. On Aug 15, users will be able to connect their wallet, bridge funds, and use a large and growing number of dapps. What are… https://t.co/aYOdM7FKAS pic.twitter.com/UM3zPWJfO3 — Cronos (@cronos_chain) August 8, 2024 Cronos also secured multiple launch partners for the zkEVM, each of which will help in improving user convenience as the developers work out the L2’s kinks in the first couple of months. Partners like the Earn Network and Pyth Network will enable users to use the alpha mainnet with little to no hiccups. Eli5DeFi also released a post explaining the advantages of the upcoming layer 2. With Cronos zkEVM’s high throughput, native account abstraction, shared liquidity, and native yield-bearing assets, the platform is set to have a great time on launch day. As the @cronos_chain mainnet launch approaches, let’s revisit what sets Cronos zkEVM apart. Dive into our full breakdown in the previous post! Learn more here ⬇️https://t.co/lXeHxKBRH9 https://t.co/ZOhxuwTAnh pic.twitter.com/xVtfye8BnU — Eli5DeFi (@eli5_defi) August 8, 2024 Launch Week Might Post Some Gains For CRO CRO bulls are currently attempting to break through the $0.0950 ceiling after rising yesterday due to the positive on-chain news. Right now, the token will have a strong upward momentum once next week starts. Macro-wise, the market still has significant influence on CRO despite the network’s announcement. As of writing, the market has plateaued as it returned to pre-dip levels. This relative stability can turn either good or bad for CRO and the general market. Its relatively significant correlation with Bitcoin might shed some light on how it will perform which in turn gives CRO a relationship with traditional finance. With the market keeping a positive position on the state of the economy, it might seem logical that a strong increase in prices in private equity might translate to gains on CRO and the crypto market as a whole. Related Reading: XRP Market Cap Explodes By 23% In A Day As Whale Appetite Soars As the market posts modest gains after the rebound, CRO is on a great position to capture value and momentum moving in and out of its network and the momentum of the general market. Investors and traders should be informed that investing on CRO now before the update is for the long term as anything can happen on the market and on the day of launch of the Cronos zkEVM. However, if the bullishness continues we might see the token breach above $0.1223 in the long term. Featured image from Forbes, chart from TradingView
A crypto analyst has reignited the debate between Ethereum (ETH) and Solana (SOL), evaluating which cryptocurrency was more superior. Considering recent market trends and performances of both altcoins, the analyst has finally identified a clear winner in the competition. Solana Wins Battle Against Ethereum In a recent X (formerly Twitter) post, legendary crypto trader and analyst, Peter Brandt drew a comparison between Solana and Ethereum, spotlighting their fundamental characteristics, strengths and weaknesses. Based on his analysis, Brandt suggests that it was inevitable that one will be recognized as the clear winner or superior blockchain and cryptocurrency. Related Reading: Ethereum Vs. Solana: Legendary Trader Peter Brandt Reveals The ‘Clear Winner’ Sharing a price chart of Solana/Ethereum, the analyst offered a critical view of Ethereum, highlighting several vulnerabilities that are plaguing the blockchain. Despite being the second largest cryptocurrency by market capitalization, Brandt has described ETH as a difficult network to use, likely attributing this to its slow transaction speeds. He stated that Ethereum was expensive, cumbersome, and flawed. Moreover, the analyst has cast doubts on Ethereum’s claim to decentralization, suggesting that the blockchain was not as decentralized as it presents itself to be. On the other hand, Brandt praised Solana for its numerous strengths and noteworthy characteristics. The analyst points out that Solana’s ability to offer high speed transactions at a fraction of the cost of Ethereum was impressive. Brandt also disclosed that Solana’s network was easier to use, making it more accessible to developers and users. Additionally, the analyst highlights that Solana maintains a strong technical base, possibly referring to the blockchain’s unique Proof Of History (PoH) consensus mechanism. From the analyst’s perspective, Solana’s strong fundamentals and superior functionalities gives it a significant edge over Ethereum. He concluded his analysis with a bold prediction, stating that Solana could gain 100% in value relative to Ethereum in the months ahead. This underscores the analyst’s belief that Solana could potentially outperform Ethereum in the market. While Brandt’s comparison of Ethereum and Solana may suggest a bias against Ethereum, the analyst has clarified that he actually does not dislike ETH. ETH Forms Death Cross While SOL Surges To $160 A crypto analyst identified as ‘KickEx’ revealed in an X post that Ethereum and Bitcoin are forming a death cross on their respective price charts. The analyst notes that ETH’s recent market crash has led to the formation of a worrisome technical pattern. Related Reading: CryptoQuant CEO Says Bitcoin Price Could Reach New ATH If It Holds This Level KickEx has disclosed that if the death cross pattern plays out, Ethereum may experience a massive price decline in the liquidity range of around $2,000 per coin. At the time of writing, the cryptocurrency is trading at $2,682, reflecting a 10.84% increase, according to CoinMarketCap. While Ethereum’s price faces a potentially bleak future outlook, Solana has been performing relatively well in the market. The cryptocurrency recently hit the $160 price level, marking a rise of over 10%. Although the cryptocurrency has since retreated to $157, Solana continues to show strong bullish signals amidst market downtrends. Featured image created with Dall.E, chart from Tradingview.com
DeFi's resilience amid market turmoil underscores its potential to operate autonomously and maintain stability without central intervention.
The post DeFi protocols show resilience despite this week’s macro crash: IntoTheBlock appeared first on Crypto Briefing.
According to data from financial information platform Farside Investors, the Ethereum ETFs witnessed a total net outflow of $2.9 million on August 8. On the day, Grayscale’s ETHE and Fidelity’s FETH experienced outflows of $19.8 million and $2.6 million, respectively. Grayscale mini ETF ETH had an inflow of $5.0189 million, and BlackRock ETF ETHA had …
Ethereum co-founder Vitalik Buterin has transferred 3,000 ETH, valued at around $8 million, to a multi-signature safe wallet attracting around 0.1 ETH in gas fees (about $270). The reason for the transfer is unknown and speculated to be a donation. When a user questioned the high gas fees on the network, Buterin underscored security over …
On 08th August, Blackrock’s “ETHA” recorded the highest inflow of $11.7 Million, followed by Grayscale’s “ETH” with $5 Million. Further, Bitwise’s “ETHW” has added $2.8 Million. Notably, 21 Shares, VanEck, Invesco, and Franklin have recorded a neutral flow. On the other hand, Fidelity’s “FETH” recorded an outflow for the first time at $2.6 million. Grayscale’s …
Users of Arbitrum orbit chains, layer-3 solutions for Ethereum built on top of the platform’s technology stacks, can now pay gas fees using USDC. The move comes even as ARB, the native token of the Ethereum layer-2, continues to post lower lows, pushing losses to nearly 80% since January 2024 highs. Arbitrum Orbit Chains Support USDC For Paying Gas Fees In a press release, the decision to integrate bridged USDC aims to reduce gas fees and attract more developers. As of August 8, USDC is one of the top stablecoins by market cap. CoinMarketCap data shows that Circle, the stablecoin issuer, has minted over $34.5 billion of the token, mainly on Ethereum and its layer-2s. Related Reading: 3 Reasons Why Ethereum Is Struggling Today: Will ETH Break $2,000? It should be noted that USDC is also supported in other ecosystems, including Solana and the BNB Chain. Currently, over $1.6 billion USDC has been bridged to Arbitrum. By allowing users to pay gas fees using USDC, Arbitrum said they would be saved from the pain of enduring volatility typical in ETH. Depending on demand, gas fees tend to fluctuate, rising by several folds when there is congestion in the mainnet. This volatility tends to impact user experience significantly. As such, some users opt for alternative platforms like Solana or Avalanche, where gas fees are relatively low. Since USDC is pegged to the greenback, it is stable. Accordingly, regardless of the decentralized app they use on Arbitrum’s orbit chains, users can predict gas fees, making it easier to budget and, more importantly, manage finances. Pushing Adoption, ARB Down 80% In 8 Months In the press release, Arbitrum added that this integration will free orbit chain users from holding multiple tokens, further enhancing user experience. Related Reading: More Pain Ahead: Analyst Warns Of Imminent Bitcoin Plunge Below $54,000 To Fill CME Gap Circle also announced a grant program for projects looking to be built on Arbitrum. This may spur the adoption of USDC on the orbit chain. Despite the integration, ARB, the native token of Arbitrum, remains under intense selling pressure. As of August 8, the downtrend remains, and ARB is down nearly 80% from January 2024 highs. Even though prices have been consolidating, as evident in the daily chart, bulls need to push higher, clearing $0.60. However, a clean break above 40.80, or July highs, could spark demand. This surge may revive demand in the medium to long term. Feature image from DALLE, chart from TradingView
The transfer involving the NomadBridge exploiter and Tornado Cash highlight the ongoing battle between privacy and regulation in the cryptocurrency industry.
As visible from their daily chart performances, Bitcoin, Ethereum, and other top altcoins are not free from bearish pressures. Bitcoin and Ethereum, despite being the most liquid, are still down double digits in the past trading week. As bulls push higher, traders closely monitor how prices will react at immediate liquidation zones. Institutions Choosing Ethereum […]
The NYSE American has asked the SEC for approval for it to list and trade options for three Ether ETFs from Bitwise and Grayscale.
Following a dramatic 10% drop in the price of Bitcoin, which momentarily settled below $50,000 before recovering to about $54,000, Bitcoin exchange-traded funds (ETFs) suffered large outflows on Tuesday, totaling almost $168 million. This is the second straight day of significant withdrawals, resulting in $405 million in weekly total outflows. Related Reading: Crypto Market Recovery […]
Bitcoin’s recovery bounce is losing steam, indicating that the bears remain active at higher levels.
A crypto educator and influencer account on X has alerted that “China is Dumping ETH”. As per data from lookonchain, possibly 789,533 ETH worth $2 billion, is being transferred from dormant wallets inactive for 3.3 years. Notably, these funds are coming from the Plus Token Ponzi 2. Chinese police had seized $4.2 billion worth of …