The research firm considers ETH an attractive investment opportunity, citing rising investor interest relative to Bitcoin.
Investor sentiment has recently shifted away from Bitcoin and toward Ethereum, based on fund flow data from CoinShares.
XRP has made a historic comeback as the third-largest coin by market cap, the number of “XRP” Google searches breaking above “crypto.”
The Ethereum Foundation (EF) has announced a substantial financial commitment, investing “tens of millions” of dollars into advancing zero-knowledge Virtual Machines (zkVMs), a cutting-edge technology poised to enhance scalability and security within the Ethereum ecosystem. Justin Ðrake, a researcher at the Ethereum Foundation, revealed the investment via a post on X: “The EF is investing […]
Ether has outperformed Bitcoin in futures yields, signaling more potential ETF inflows that could catalyze a rally above $4,000 before Jan. 20.
Layer 2s could be “cannibalistic” for Ether’s price potential, despite their scalability benefits, according to industry watchers.
Bitcoin regains some ground following Tuesday's slide.Ether teases a return to $3,500.Traders are piling into ETH derivatives.
After the 2024 US election, Bitwise and other asset managers seem to have been testing the regulatory waters for previously unapproved spot cryptocurrency ETFs.
Bitcoin has fallen over 6% in the last 24 hours.Indicators suggest BTC could drop to as low as $90,000.Ether outperforms the broader market.
Ethereum has seen a surge in blob usage, averaging over 21,000 blobs this month, matching March's record activity.The Dencun upgrade allows Layer 2 solutions to efficiently bundle transactions and post them to Ethereum.Blob fees spiked, leading to the burning of over 166 ETH worth $560,000 in the past week.
ETH advanced 4% during the day, outperforming BTC's 1.5% loss and slight gains of the broader market benchmark CoinDesk 20 Index.The ETH/BTC ratio hit its weakest level in three years last week, but has rebounded since and is poised for more gains, observers noted.Bitcoin is likely to move sideways until year-end, said Paul Howard, senior director of Wincent.
Bitcoin returns to $98,000.Crypto futures saw $500 million in liquidations amid volatility.Brokers raise price targets for MicroStrategy.
Analysts are eyeing a potential $20,000 cycle top for the Ether price, which is expected to gain momentum in the first half of 2025.
Ethereum (ETH) is gaining prominence as Bitcoin maintains its recent highs. Despite the fact that ETH is currently 36% below its all-time high of $4,878 from 2021, analysts anticipate that the second-largest cryptocurrency by market capitalization may be preparing for a significant shift. Related Reading: XRP Gains Momentum: Whale Activity Points To $15 Breakthrough Ethereum’s ecosystem is a hive of activity, with a surge in institutional investments, rising ETF interest, and increasing transaction volumes. From the 1.1 million recorded three months ago, the daily transaction volumes on Ethereum have climbed to 1.22 million, a notable rise according to the most current statistics from IntoTheBlock. Bitcoin has been the star of this rally, but what about Ethereum? Historically, Ethereum has been one of the first assets to benefit from profit rotations after Bitcoin’s move. Currently, Ethereum’s on-chain activity shows evenly spaced potential resistance levels, but in… pic.twitter.com/amkbZmtEyo — IntoTheBlock (@intotheblock) November 21, 2024 Despite the fact that the increase is not substantial, it indicates that network usage is consistent. This consistent activity serves as the foundation for Ethereum’s long-term value and underscores its ongoing significance in the crypto sector. Institutional Investors Place Bets In the past week, institutional buyers bought more than $1.4 billion worth of Ethereum (ETH), which caused a stir in the crypto community. During the same time frame, $147 million has been put into Spot Ethereum ETFs. This shows that people are becoming more optimistic about the future of ETH. #Ethereum whales have bought over 430,000 $ETH in the last two weeks, worth over $1.40 billion! pic.twitter.com/n7iTTADuax — Ali (@ali_charts) November 14, 2024 The activity surge continues; trading volumes for Ethereum ETFs reached a record $1.63 billion last week, representing a 44% weekly increase. According to analysts, this increase is consistent with the patterns observed in Bitcoin ETFs, which experienced an initial period of stagnation, followed by a period of sustained growth. In response, Ethereum’s price went through the roof, rising by 25%, which was the biggest weekly gain in six months. Many people see these changes as signs that Ethereum is gaining speed, which could possibly lead to more benefits. Shifting Landscape: Layer 2 Solutions While there are positives, growth in Ethereum’s network sends out a mixed signal. New ETH addresses created are lower than those seen in previous bull markets. The reason for this is seen by experts as Layer 2 options such as Base. Because these technologies are built on top of Ethereum’s infrastructure, transfers can happen more quickly and for less money. This makes it less important to directly connect to the main Ethereum chain. Nevertheless, Ethereum’s significance has not been eclipsed by Layer 2 growth. Tokens continue to be indispensable in the decentralized finance (DeFi) and NFT ecosystems. In reality, this expansion strengthens Ethereum’s fundamental function while simultaneously increasing its scalability and accessibility. Related Reading: Upbit Listing Sends BONK Skyrocketing 67% For A Fresh ATH In Memecoin Mania ETH is becoming less correlated with BTC. The 180-day BTC-ETH Pearson correlation is at a three-year low. A 10% rise in #Bitcoin could result in only a 3% gain for #Ethereum. Just because BTC is strong doesn’t mean you should buy ETH. Each asset is now following its own path. pic.twitter.com/4Dn4QoInXo — Ki Young Ju (@ki_young_ju) November 19, 2024 Ethereum Dissociates From Bitcoin Ethereum’s autonomy from Bitcoin is becoming increasingly apparent. The 180-day correlation between the two cryptocurrencies has plummeted to a three-year low, falling below 0.5. This change, according to analysts, indicates that Ethereum is now more influenced by its distinctive market dynamics than by the price fluctuations of Bitcoin. The necessity of independently assessing Ether’s potential is increasing as it continues to pursue its own course. Ethereum is demonstrating that it is more than just Bitcoin’s counterpart — it is forging its own path in the crypto world, whether through the adoption of Layer 2 solutions, institutional interest, or increasing ETF activity. Featured image from DALL-E, chart from TradingView
The latest price moves in bitcoin (BTC) and crypto markets in context for November 22, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
Despite millions of selling pressure, Ether is staging a breakout to above $3,700 due to an emerging bull flag, according to market analysts.
Ethereum (ETH) price is finally moving after a week of sideways movement. In the last hour, the second-largest crypto has seen a 5% surge to retest the key $3,200 level. Some market watchers believe ETH is about to move toward Q1 highs and kickstart the altseason. Related Reading: Crypto Community’s Revenge: Solana Memecoin Rug-Pulled By Gen Z Trader Hits $80 Million Market Cap Ethereum Retests Key Support Level Ethereum has been heavily criticized for its performance against Bitcoin (BTC), with investors worrying that ETH might not run to new highs this cycle. ETH’s price action has moved sideways while the flagship crypto continues its price discovery mode. On Thursday morning, BTC neared the $100,000 mark after hitting its latest all-time high (ATH) above $98,000, while ETH continued hovering in the mid-zone of its $3,000-$3,200 one-week price range. However, Ethereum has seen a remarkable 5% pump to trade above the $3,200 mark for the past hour. The second-largest crypto rose above $3,200 a week ago for the first time in over three months, hitting the $3,400 mark before retracing 5%. Over the past week, ETH attempted to reclaim the $3,200 resistance as support but failed twice to achieve it. Today, the cryptocurrency’s jump has propelled its price past the key resistance toward the mid-range of the $3,300 zone, reigniting a bullish sentiment toward Ethereum. Analyst Crypto Yapper asserted that the $3,200 is “the next big breakout” for Ethereum, as it has been a major rejection point for the last week. The analyst highlighted that after ETH’s consolidation, the next move was a retest of this level, which could see the crypto breakout toward the $3,500 mark if successfully reclaimed. However, failing to turn this resistance into support could likely see ETH’s price lose the $3,000-$3,100 support and move toward the $2,600 level, a major resistance before this month’s breakout, before attempting to reach $3,500. ETH’s Breakout To Kickstart The Altseason Crypto analyst Rekt Capital noted that ETH is breaking out of a short-term bull flag today. Per the post, the King of altcoins broke out of a three-week bull flag formation after surpassing $3,200. A confirmation of the breakout “would see ETH revisit the $3,700 above,” forecasted the analyst. Similarly, crypto analyst Zayk pointed out that the cryptocurrency displayed a two-week bullish pennant formation in the 4H timeframe. A successful breakout from the bullish pattern above the $3,200 mark could target a 15% rally to $3,700. Related Reading: Aptos Following SUI’s Lead? Analyst Says APT’s ‘Explosive Breakout’ Targets $20 Crypto trader Daan stated that investors should wait to see if Ethereum’s current momentum sustains. However, he considers that the next impulse for ETH/BTC is “likely to have some legs and go for some proper relief.” This run could see the ETH/BTC trading pair move back toward the 0.04 mark, which it traded at two weeks ago. This move would display a 20% surge from the current levels, which “should absolutely send the overall altcoin market and bring BTC Dominance down a decent amount.” As of this writing, the ETH’s price holds above $3,350, trading 2% below last week’s high. Featured Image from Unsplash.com, Chart from TradingView.com
The latest price moves in bitcoin (BTC) and crypto markets in context for November 21, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
As a result of the reverse share splits, the Grayscale Bitcoin Mini Trust ETF and Grayscale Ethereum Mini Trust ETF are set to see 5x and 10x price increases, respectively.
The latest price moves in bitcoin (BTC) and crypto markets in context for November 20, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
Smart money sentiment around Ether is significantly positive. Is it a sign that ETH’s rally will continue?
The latest price moves in bitcoin (BTC) and crypto markets in context for November 19, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
The market assigns a very low probability of ether challenging its year-to-date high of around $4,000 by the end of December.
The latest price moves in bitcoin (BTC) and crypto markets in context for Nov 18, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
The total cryptocurrency market hits a new all-time high of $3.025 trillion as bitcoin consolidates around $92,000.
The latest price moves in bitcoin (BTC) and crypto markets in context for Nov. 15, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
The latest price moves in bitcoin (BTC) and crypto markets in context for Nov. 14, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
Bitcoin dominance continues its uptrend and hits new highs as ETF inflows soar.
Not endorsed by Donald Trump, Senator John Thune defeated Elon Musk-supported Senator Rick Scott to become the new Senate majority leader.
The latest price moves in bitcoin (BTC) and crypto markets in context for Nov. 13, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.