Over the weekend, Ethereum, the second largest digital asset, took a hit as its price fell significantly, triggering broader negative sentiment around the crypto asset and the factors that could be responsible for the dip. Delving into the matter, popular crypto analyst and trader Michael Van De Poppe has offered insights on the recent price […]
The memecoin took a massive hit after Buterin sold his entire 17 billion Neiro airdrop, but in a weird turn of events, it pumped soon after.
The crypto market’s turbulence has intensified, with Bitcoin plummeting to $54,000, marking a 7.31% intraday drop and a 17% decline over four days. This sharp descent has pushed BTC below its 200-day EMA, with a downtick in the 50-day EMA signaling a looming death cross. Ethereum has also faced significant losses, falling to $2,350, a …
The cryptocurrency industry recently experienced a substantial reduction in its overall market capitalization as prices plummeted sharply over the weekend. This downturn was particularly notable as Bitcoin, the leading cryptocurrency by market value, fell below the $60,000 mark on Saturday, August 3. Ethereum, the second-largest cryptocurrency, also faced significant losses, dipping below $3,000 and reaching […]
Crypto analyst CrediBULL Crypto provided a market analysis on Pepe (PEPE), Ethereum (ETH), and XRP. Based on his analysis, PEPE could hit a new high soon enough, seeing how it has ranged since hitting a new all-time high (ATH) in May. A Price Rally For PEPE On The Horizon CrediBULL Crypto mentioned in an X […]
Spot Ether ETFs were supposed to set the gold standard for ETH investing. Unfortunately, they still aren't allowed to offer staking.
Ethereum (ETH) recently dropped below the critical and psychological support level at $3,000, raising concerns for ETH bulls. This development comes amid the continued decline in revenue generated on the Ethereum network. Related Reading: Crypto Analyst Warns That Bitcoin Could Crash To $42,000 If This Happens Ethereum Crashes Below $3,000 Ethereum is down below $3,000, with this downtrend believed to be due to several factors. One is the outflows, which the Spot Ethereum ETFs have been experiencing since they began trading on July 23. Data from Farside Investors shows that these funds again experienced a net outflow of $54.3 million on August 2. These funds haven’t had the desired impact on ETH’s price that they were expected to have, with Ethereum down over 10% since they began trading. Data from Soso Value shows that these funds have suffered cumulative net outflows of $510.7 million since they launched. Grayscale’s Ethereum Trust (ETHE) has been individually responsible for these outflows, with $2.12 billion flowing out of the fund since its launch. This has put significant selling pressure on ETH, leading to its recent downtrend. ETH’s price has also dropped below $3,000 thanks to the downtrend in the broader crypto market led by Bitcoin. Ethereum was bound to suffer a significant decline following Bitcoin’s drop as data from the market intelligence platform IntoTheBlock shows that both assets currently have a strong price correlation. Ethereum’s drop below $3,000 is undoubtedly worrisome for investors, considering how much lower it could drop. However, ETH has quickly reclaimed the $3,000 level these past three months whenever it drops below this crucial support zone. As such, this time may not be any different, especially with data from IntoTheBlock indicating a strong demand for Ethereum at this price level. If Ethereum fails to hold this range, the second-largest crypto token risks dropping to as low as $2,700, a more crucial support zone for ETH considering that 11.11 million addresses bought the token at an average price of $2,647. Ethereum’s Revenue Drops To New Lows Data from Token Terminal shows that Ethereum’s revenue has dropped to new lows, down by 40.4% in the last 30 days and 44.8% annually. Fees earned on the network have not been impressive either. Over the last 30 days, Ethereum users have paid $92.97 million in fees, a 32.8% decline and 38.3% at an annual rate. This drop in Ethereum’s revenue and fees can be attributed to the decline in the network’s active daily users. Further data from Token Terminal shows a 9.8% drop in Ethereum’s monthly active users. The same goes for the weekly and daily active users, with 20.1% and 15.3% drops, respectively. Related Reading: ARB Market Plummets 14%, But New Developments Could Reverse The Trend At the time of writing, Ethereum is trading at around $2,979, down over 5% in the last 24 hours, according to data from CoinMarketCap. Featured image from Pexels, chart from TradingVIew
Amidst this bearish market sentiment, traders and investors look at accumulating massive Ethereum (ETH) as it experienced a notable price drop. Today on August 3, 2024, an on-chain analytic firm lookonchain made a post on X that the smart trader with a 100% win rate purchased a notable 2,424 ETH worth $7.22 million. Smart trader …
Decentralized smart contract platform Fantom has undergone a transformation, rebranding itself as Sonic Labs in preparation for the upcoming launch of Sonic, an Ethereum Virtual Machine (EVM). The rebrand was officially announced via X on August 1, with Sonic Labs now fully operational across all platforms. Fantom’s Transformation Into Sonic Labs This rebranding marks a […]
The biggest ETH liquid staking protocol has enhanced its offering for large investors, many of whom are already its customers.
The biggest ETH liquid staking protocol has enhanced its offering for large investors, many of whom are already its customers.
In this ongoing bearish market sentiment, Ethereum (ETH) the world’s second-biggest cryptocurrency badly impacted as it experienced a notable 7% price drop. With this massive decline, ETH is now moving below the 200 Exponential Moving Average (EMA), indicating that it has entered in a downtrend. ETH below 200 EMA The 200 EMA is a technical …
The sell-off in the global stock markets is casting a bearish shadow on the cryptocurrency markets, signaling near-term weakness.
The sell-off in the global stock markets is casting a bearish shadow on the cryptocurrency markets, signaling near-term weakness.
The Ether price has declined 10% since the approval of spot Ether ETFs, with open interest depreciating by over $250 million over the past 24 hours.
Despite Grayscale’s Ethereum Trust experiencing cumulative outflows exceeding $2 billion, daily net inflows into U.S. spot Ethereum ETFs have turned positive. Many crypto analysts believe that Ethereum ETF will soon follow the Bitcoin path. Here’s what you need to know. BlackRock’s ETHA ETF Shows Positive Momentum Spot Ether ETF flows have been erratic this week, …
In recent times, Hong Kong has been continuously making it to the headlines in the crypto space for several reasons. One of the reasons as of today is that Futu Securities International, the largest online broker in Hong Kong introduced retail cryptocurrency–Bitcoin and Ethereum–trading to its platform. According to the latest report from South China […]
Two market experts recently revised their predictions for Ethereum, with one claiming that the second-largest crypto token could rise to as high as $100,000. Interestingly, these ultra-bullish predictions align with some predictions made by financial institutions. Ethereum To Rise To $50,000 Ethereum maximalist Adriano Feria predicted in an X (formerly Twitter) post that Ethereum could reach $50,000 in this market cycle. He made this bold prediction in response to Ethereum developer Eric Conner’s prediction that ETH will reach $35,000 this cycle. Conner had initially predicted that ETH would rise above $20,000 in this bull run but eventually revised his price target because of the “ETH hate” he was receiving following his prediction. Related Reading: This PEPE Holder Cohort Is The Reason Price Is Struggling To Reclaim $0.00002 Meanwhile, Feria followed Conner’s footsteps and upped his ETH price target, predicting the crypto token to reach $100,000. He explained that the hate ETH was getting made him realize that “99% of the people in the world are completely sidelined, and institutions have barely gotten their feet wet.” Feria added that those holding ETH are truly the “world’s elite” because ETH’s bull case should send the crypto token to $100,000. The analyst suggested that Ethereum has yet to enjoy mainstream adoption, and it could send its price to the $100,000 target when that happens. This includes the entry of institutional investors into the Ethereum ecosystem, which is already happening thanks to the Spot Ethereum ETFs. Feria is also confident in his prediction and remarked that he wasn’t joking. He noted that some financial institutions have come up with bull targets close to his price target of $100,000. One of the financial institutions that the analyst might have been referring to includes VanEck, which gave a bull case price target of $154,000 for ETH by 2030. Why ETH Rising To $50,000 Is Possible Crypto investor Jesse Eckel recently made a bullish case for Ethereum, explaining why Ethereum will not only reach but surpass the $50,000 price target. He alluded to VanEck’s prediction that Bitcoin can reach $52 million by 2050. He claimed that ETH is “objectively better money than BTC, ” meaning that the former could easily attain unprecedented heights since VanEck predicts that the flagship crypto will be worth millions of dollars. Related Reading: Hedge Fund Manager Says Bitcoin Price Will Reach $428,000 If This Happens Eckel further remarked that Ethereum is currently the “backbone” of onchain finance. He claimed that ETH would “continue to grow as a legitimate form of money” as everything becomes tokenized and trillions of dollars move onchain. The investors also noted how almost every layer-2 network launches under the Ethereum ecosystem. With such massive adoption on the horizon for ETH, Eckel predicts that Ethereum can even rise to as high as $23 million based on VanEck’s prediction for Bitcoin. At the time of writing, Ethereum is trading at around $3,170, down over 4%, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
Spot Ether ETFs could amass as much as $10 billion in assets under management within their first year of trading said Katalin Tischhauser, Head of Investment Research at Sygnum Bank and a former executive at Goldman Sachs. She predicted that Bitcoin ETF inflows would be in the $30 billion to $50 billion range for the …
Spot Ethereum ETFs (Exchange-Traded Funds) have registered their first green day after a four-day negative streak. A week after its launch, the massive outflows, led by Grayscale’s Ethereum Trust (ETHE), have outshined the remarkable start of the ETH-based investment products. Ethereum ETFs Performance Outshined By Outflows The approval of spot Ethereum (ETH) ETFs was surrounded […]
In a recent flare-up on X, notable voices from both the Ethereum and Solana communities clashed over various criticisms directed at the Solana blockchain. Flip Research, a X handle aligned with pro-Ethereum viewpoints, outlined several perceived flaws in SOL’s architecture and operation, raising questions about the blockchain’s reliability, usability, and future potential in institutional settings. […]
Positive ETF flows may stabilize Ethereum's price, potentially reversing recent declines and mirroring Bitcoin's post-ETF launch recovery.
The post Ethereum ETF flows turn positive as BlackRock fund logs $118 million inflows appeared first on Crypto Briefing.
Regardless of both their maturity in the market, Bitcoin and Ethereum rivalry persists. According to recent insights from QCP Capital, a global digital asset trading firm and market maker, Ethereum appears to have now shown potential for larger price fluctuations compared to Bitcoin. QCP reveals that the volatility premium between these two major cryptocurrencies has seen a notable increase, with Ethereum leading in potential price swings. ETH to see Larger Price Swings than BTC Delving further into the insights shared, QCP Capital disclosed that it has observed Ethereum’s volatility premium over Bitcoin expanding to 8%, up from 4% just last week. This widening gap, according to QCP highlights a growing trend where Ethereum is expected to outpace Bitcoin in terms of price volatility. Particularly, the analysis suggests that Ethereum could offer more lucrative opportunities for those willing to capitalise on its market movements. Related Reading: Ethereum’s Breakout Moment: Here’s Why ETH Could Skyrocket to $15,000 Soon Furthermore, besides the impending surge in volatility, Ethereum’s market behaviour continues to diverge from that of Bitcoin, with its performance holding relatively steady even amid broader market shifts. Analysts from QCP Capital have pointed out that despite recent market uncertainties, including significant movements of Bitcoin by the US government, ETH has managed to sustain its market position more effectively than its counterpart. The analysts noted: ETH spot has performed relatively well compared to BTC following Trump’s speech, with ETHBTC gaining 5% since, despite its fourth consecutive day of spot ETF outflows. Why the strength in ETH? The market might be becoming immune to headline outflow figures due to the rotation from more expensive ETHE to the cheaper ETFs. They note that if the current trend of outflows from instruments like the Grayscale Ethereum Trust begins to slow, and inflows into Ethereum ETFs pick up, “could ETH break significantly higher?” Suggesting a trade idea, the QCP Capital analysts added: While we maintain a range-trading outlook for BTC as re-iterated yesterday, we favor accumulating ETH at its current discount, as volatility has picked up slightly. Ethereum and Bitcoin Market Performance While both Ethereum and Bitcoin have seen a negative performance in price over the past week, there remains a notable difference when being specific. For instance, over the past week, Bitcoin has decline by 1.4% however, Ethereum on the other hand has plunged 4.2% over the same period. Meanwhile, in the past 24 hours, Ethereum has seen an increase of 1.2% bringing its price to trade at $3,314 while Bitcoin still remains in the red down by 1.4% over the same period to trade at a price of $66,292, at the time of writing. Related Reading: Research Firm Predicts Bitcoin Game Theory In Global Adoption Race According to prominent crypto analyst Micheal Van De Poppe, the crucial level for ETH/BTC is 0.0515. If that price mark breaks, Van De Poppe predicts that then “it’s party time” as this would be the “strong first signs of the week.” For the first time, since the launch of the #Ethereum ETF, price rallied back upwards during U.S. hours. Crucial levels are 0.0515 BTC. If that breaks, it’s party time. Strong first signs of the week. pic.twitter.com/DysOtKMQpJ — Michaël van de Poppe (@CryptoMichNL) July 30, 2024 Featured image created with DALL-E, Chart from TradingView
Movement Labs joins Polygon’s AggLayer to boost blockchain interoperability and protect developers against 90% of auditor-prioritized attack vectors.
As Ethereum celebrates its ninth anniversary, we reflect on its transformative journey and share nine key insights from leading executives.
Justin Sun, the renowned entrepreneur and founder of Tron, has invited another scoop, with a second significant move involving Ethereum (ETH). Popular on-chain analytics provider Spot On Chain reports that Sun has allegedly transferred a large percentage of his Ethereum (ETH) deposit from Lido to Poloniex, a major crypto exchange. This has led to widespread …
Ethereum price struggled to clear the $3,400 zone and corrected gains. ETH is firm near $3,280 and might attempt another increase in the near term. Ethereum started a downside correction from the $3,400 resistance. The price is trading near $3,280 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support at $3,280 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start another increase unless there is a close below the $3,250 support zone. Ethereum Price Holds Firm While Bitcoin Dips Ethereum price extended its increase above the $3,250 zone. ETH even cleared the $3,350 resistance zone and tested the $3,400 level. Recently, there was a downside correction from the $3,395 high, but it was less compared to Bitcoin. The price declined below the $3,350 support zone. It declined below the 50% Fib retracement level of the upward move from the $3,201 swing low to the $3,395 high. Ethereum is now trading near $3,280 and the 100-hourly Simple Moving Average. There is also a key bullish trend line forming with support at $3,280 on the hourly chart of ETH/USD. The trend line is close to the 61.8% Fib retracement level of the upward move from the $3,201 swing low to the $3,395 high. If there is a fresh increase, the price could face resistance near the $3,350 level. The first major resistance is near the $3,400 level. The next major hurdle is near the $3,440 level. A close above the $3,440 level might send Ether toward the $3,500 resistance. The next key resistance is near $3,550. An upside break above the $3,550 resistance might send the price higher toward the $3,720 resistance zone in the near term. More Losses In ETH? If Ethereum fails to clear the $3,350 resistance, it could continue to move down. Initial support on the downside is near $3,280. The first major support sits near the $3,250 zone and the trend line. A clear move below the $3,250 support might push the price toward $3,180. Any more losses might send the price toward the $3,120 support level in the near term. The next key support sits at $3,080. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $3,250 Major Resistance Level – $3,350
Ethereum spot exchange-traded funds (ETFs) that debuted in the US last week have taken the cryptocurrency market at large by storm with considerable inflows into these products. According to a recent report by CoinShares, the advent of these spot ETFs has attracted $2.2 billion, marking a pivotal moment for Ethereum and its investors. Related Reading: […]
After a drab week characterized by Bitcoin, Ethereum, and Solana prices either dumping or moving sideways, prices bounced off strongly by the end of last week. Of note, losses in Ethereum were arrested as prices recovered, rising from around $3,000. At the same time, Bitcoin and Solana pushed higher, closing in on $70,000 and $200, respectively. Interest In Bitcoin, Ethereum, And Solana Spikes According to Santiment data, despite weakness across the scene, there were hints of strength at the tail end of last week. Of note was renewed interest, where Solana, Bitcoin, and Ethereum saw a marked spike in trading volume. Related Reading: Fantom (FTM) Regains Momentum After Weeks Long Bleed – Will This Continue? When trading volume surges, it often suggests that market participants are curious and willing to engage, especially if prices are rising. Since these top coins were firm, rejecting losses, especially from Friday, July 26, buyers were in the equation, looking to capitalize. As Santiment analysts noted, how Bitcoin, Ethereum, and Solana perform tends to impact the general market. If Ethereum rallies, for example, it would benefit the broader layer-2 and 3 ecosystems. This will push meme coins and even decentralized finance (DeFi) activity even higher. There were multiple factors behind this interest. In Bitcoin’s case, shifting regulatory perspective on the world’s most valuable coin and increasing endorsement from politicians, especially in the United States, could explain why more are willing to learn about the coin. The Impact Of Trump, Spot Ethereum ETFs, And SOL Flipping BNB Over the weekend, Donald Trump, the former president and the presidential candidate in the upcoming November election, delivered a keynote address at the recently concluded Bitcoin conference in Nashville. Trump expressed his support for Bitcoin, saying he would make America the home of crypto. Meanwhile, eyes were on Ethereum following the approval of spot ETFs by the United States Securities and Exchange Commission (SEC). Though the derivative product began trading at leading bourses, including the NYSE and Cboe, inflows remain low. If anything, Farside data showed that by Friday, spot Ethereum ETFs had posted outflows for three consecutive days. Outflows from Grayscale’s ETHE chiefly drove this. Even amid this unexpected development, BlackRock’s spot Ethereum ETF product saw over $87 million inflows on July 26. Related Reading: Donald Trump Reveals Plans For US Government’s 213,239 Bitcoin If Elected Traders also tracked Solana after the coin flipped BNB as the third most valuable cryptocurrency, excluding stablecoins. According to July 29, SOL commanded a market cap of $88.5 billion, while BNB stood at $86.5 billion, according to CoinMarketCap data. Over the past few weeks, SOL has been edging higher. To put in the numbers, SOL is up 56% from July lows. It will likely register fresh Q3 2024 highs if buyers breach $200. Feature image from DALLE, chart from TradingView
The latest in blockchain tech upgrades, funding announcements and deals. For the period of July 25-31.