Ether
Journalist alleges Mimo Capital co-founder was behind 2016 exploit of The Dao: Report
Laura Shin, a cryptocurrency journalist and host of the Unchained Podcast, claimed to have discovered the identity of the individual behind an exploit which drained more than 3.6 million Ether from Germany-based startup Slock.it’s The DAO in 2016. According to a Tuesday Bloomberg report, Shin claimed that she had “extremely strong evidence” that Mimo Capital co-founder Toby Hoenisch was responsible for removing more than 3.6 million Ether (ETH) from The DAO in June 2016 — roughly $50 million at the time. An unknown hacker used an exploit to drain roughly a third of The DAO’s ETH supply, forcing developers to hard fork the network and leaving the illicit funds in what became the Ethereum Classic (ETC) blockchain. EXCLUSIVE: With the publication of my book today, I can finally announce: in t...
Ethereum eyes $3.5K as ETH price reclaims pandemic-era support with 40% rebound
Ethereum’s native token Ether (ETH) looks poised to hit $3,500 in the coming sessions as it reclaimed a historically strong support level on Feb. 5. Ethereum price back above key trendline ETH price rising above its 50-week exponential moving average (50-week EMA; the red wave in the chart below) means the price also inched above $3,000, a psychological support level that may serve as the ground for Ether’s next leg up. ETH/USD weekly price chart. Source: TradingView The 50-week EMA was instrumental in maintaining Ether’s bullish bias across 2020 and 2021. For instance, it served as a strong accumulation zone during the market correction in the second and third quarters last year, pushing ETH price from around $1,700 to as high as $4,951 (data from Binance). As a result, ...
Bitcoin, Ether and NFTs will ‘never become legal tender’ in India, says Finance Secretary
T.V. Somanathan, the finance secretary for the Indian government, is reportedly pushing back against the narrative that cryptocurrencies will be widely accepted in the country — by dismissing the possibility of using them as legal tender. According to a Wednesday tweet from Asian News International, Somanathan said that a digital rupee backed by the Reserve Bank of India, or RBI, will be accepted as legal tender, but major cryptocurrencies have no chance of doing so. The finance secretary added that because digital assets including Bitcoin (BTC) and Ether (ETH) do not have authorization from the government, they will likely remain “assets whose value will be determined between two people.” “Digital rupee issued by RBI will be a legal tender,” said Somanathan. “Rest all aren’t legal t...
Can Ethereum price reach $4K after a triple-support bounce?
Ethereum’s native token Ether (ETH) looks ready to continue its ongoing rebound move toward $4,000, according to a technical setup shared by independent market analyst Wolf. Classic bullish reversal pattern in the works? The pseudonymous chart analyst discussed the role of at least three support levels in pushing the ETH price up by nearly 30% from its local bottom of $2,160. These price floors included a 21-month exponential moving average, the 0.786 Fib level of a Fibonacci retracement graph drawn from $1,716-swing low to $4,772-swing high, and the lower boundary of an ascending triangle pattern. ETH/USD daily price chart featuring the three-supports. Source: TradingView Wolf noted that the triple-support scenario could push Ether price to $3,330. In doing so, ...
Polygon (MATIC) sees a strong oversold bounce after $250B crypto market rebound
Polygon (MATIC) emerged as one of the best performers among high-ranking cryptocurrencies on Jan. 26 as the price rose nearly 17% to reach an intraday high at $1.825. The gains surfaced amid a synchronous rebound across the crypto market that started on Jan. 24. In detail, investors and traders poured in over $250 billion across digital assets, benefiting Bitcoin (BTC), Ether (ETH) and many others in the process. Performance of the top-fifteen cryptocurrencies in the last 15 days. Source: TradingView Polygon, a secondary scaling solution for the Ethereum blockchain, also cashed in on the crypto market rebound. The valuation of its native token, MATIC, rose from as low as $9.77 billion on Jan.24 to as high as $13.58 billion two days later. Meanwhile, its price jumped from $1....
These 3 cryptocurrencies are taking an even bigger hit during Bitcoin’s price slump
The cost to purchase one Bitcoin (BTC) has dropped almost 10% in the last seven days and has been eyeing extended declines as it drops below $40,000, its interim psychological support, on Jan. 10. BTC/USD weekly price chart. Source: TradingView Nonetheless, the losses suffered by Bitcoin still appear less than that of some of its top crypto rivals’ performances. For instance, Cardano (ADA), the seventh-largest cryptocurrency by market valuation, has dropped by nearly 11% to around $1.15 in the last seven days. Similarly, Ripple (XRP), the eighth-largest by market capitalization, has dipped by around 10% to nearly $0.75 in the same period. Meanwhile, some cryptocurrencies listed among the top 50 digital assets have experienced bigger losses between 15% and 30% in the last week. They i...
Crypto strategist Justin Bennett sees $3,000 as Ethereum’s turning point
Bennett revealed that he intends to buy ETH at around $3,000 as he expects the market to turn around that point Crypto analyst Justin Bennett has predicted what he expects to see from Ethereum this month, even as crypto markets dwindle and continue on a downward trend. Last Friday, Bennett outlined in a video that Ethereum must recover towards a crucial level over the next few weeks, which he defined as the region around $4,000. The crypto strategist noted that he sees this as a necessity for Ether to have a chance at restoring a major bullish run. “As long as ETH is below $4,000, you have to be a little bit careful. If we do see Ethereum over the coming weeks and months reclaim this area up here at $4,000 on a weekly and monthly closing basis, then yes, I do think we’re going ...
Top 5 cryptocurrencies to watch in 2022: BTC, ETH, BNB, AVAX, MATIC
Bitcoin (BTC) witnessed a roller coaster ride in 2021 and even though BTC has corrected sharply from its all-time high at $69,000, the digital asset is still up by 60% year-to-date. During the same period, gold has dropped more than 5%. With inflation soaring in the United States and several other parts of the world, Bitcoin’s outperformance over gold shows that investors may be considering it to be a better hedge against inflation when compared to gold. During the year, the total crypto market capitalization surged to about $3 trillion, but Bitcoin’s dominance fell from about 70% at the start of the year to 40%. This shows that several altcoins have outperformed Bitcoin by a huge margin. Crypto market data daily view. Source: Coin360 As cryptocurrencies gain wider adoption, multiple...
Retailers to drive crypto payments adoption: Survey
Crypto payments might be the innovation companies are looking for. A recent survey by payment network Mercuryo revealed that 57% of respondents believe accepting cryptocurrency payments would give companies a competitive edge. Among the other standout statistics, more than one-third of businesses reported that customers had asked to pay in Bitcoin (BTC), Ether (ETH) or another digital currency. Hot on the heels of news that Dogecoin (DOGE) will trial for Tesla merchandise payments and WhatsApp began testing payments with Meta’s Novi wallet, the Mercuryo report highlights that retail payment services will continue to be a key crypto adoption driver. The report surveyed 501 senior financial decision-makers in the United Kingdom. Almost half of the sample size consisted of large businesses em...
Avalanche eyes 60% rally as AVAX price breaks out of bull flag
Avalanche (AVAX) strengthened its case for a potential upside run towards $160 in the coming sessions as it broke out of a classic bullish pattern earlier this week. Dubbed “bull flag,” the pattern emerges when the price consolidates lower/sideways between two parallel trendlines (flag) after undergoing a strong upside move (flagpole). Later, in theory, the price breaks out of the channel range to continue the uptrend and tends to rise by as much as the flagpole’s height. AVAX went through a similar price trajectory across the last 30 days, containing a roughly 100% flagpole rally to nearly $150, followed by over a 50% flag correction to $72, and a breakout move above the flag’s upper trendline (around $85) on Dec. 15. AVAX/USD daily price chart featuring Bull Flag ...
Small Ethereum investors increase exposure as ETH loses $4K level
Ethereum’s native token Ether (ETH) has dropped by over 18% after establishing an all-time high around $4,867 on Nov. 10, now trading near $3,900. Nonetheless, the plunge has not deterred retail investors from buying the token in small quantities. According to data gathered by Glassnode — a blockchain analytics platform, the number of Ether addresses holding less than or equal to 0.01 ETH reached a record high level of 19.95 million on Dec. 4, the day ETH dropped to as low as $3,575 (data from Coinbase). Ethereum addresses with balances less than or equal to 0.01. Source: Glassnode Meanwhile, the number of Ethereum wallets with balances of at least 0.1 ETH also kept climbing despite Ether’s correction from $4,867 to $3,575, eventually hitting a new all-time high of 6.37 million...
3 reasons why Ethereum price can drop below $3K by the end of 2021
Ethereum’s native token Ether (ETH) reached an all-time high around $4,867 earlier in November, only to plunge by nearly 20% a month later on rising profit-taking sentiment. And now, as the ETH price holds $4,000 as a key support level, risks of further selloffs are emerging in the form of multiple technical and fundamental indicators. ETH price rising wedge First, Ether appears to have been breaking out of “rising wedge,” a bearish reversal pattern that emerges when the price trends upward inside a range defined by two ascending — but converging — trendlines. Simply put, as the Ether price nears the Wedge’s apex point, it risks breaking below the pattern’s lower trendline, a move that many technical chartists see as a cue for more losses ahead. In doing so, t...
