Ethereum
Bitcoin loses support above $42,000 as crypto markets turn red
Bitcoin is trading below $42k for the first time in almost three weeks Altcoins led by Ether have shed some of the gains from the rally at the end of March A sharp fall in the prices of the majority of the top cryptocurrencies on Monday has pushed the total crypto market capital below $2 trillion. The dip, which started late yesterday, continued overnight and has been the theme throughout the day. Red is the order of the day The market leader, Bitcoin, glided under $42,0oo earlier today and was last observed trading at $41,030. These figures reflect a downward movement of 3.7% on the day and 10.85% over the week. Market data shows BTC/USD hasn’t retouched the current level since March 22. Ether price has moved down 6.25% in the last 24 hours and the token appears likely to fall below $3,00...
Monero defies crypto market slump with 10% XMR price rally — what’s next?
Privacy-focused cryptocurrency Monero (XMR) rallied by nearly 9.5% in the past week compared with the crypto market’s decline of 8.5% in the same period. What’s more, the XMR/USD pair has broken above a strong, multi-month resistance trendline, hinting at more upside ahead. XMR price action XMR’s price was down by a modest 0.87% on April 10 from its two-month-high of $245 established a day before. However, the cryptocurrency still outperformed its top rivals, including Bitcoin (BTC) and Ether (ETH), on a weekly timeframe. Speculations about entities using Monero to bypass sanctions could have boosted its appeal among investors. Meanwhile, The American research group Brookings warned last month that Monero, the first in the line of privacy coins, could...
Price analysis 4/8: BTC, ETH, BNB, SOL, XRP, ADA, LUNA, AVAX, DOT, DOGE
Bitcoin (BTC) and most major altcoins are attempting to defend the immediate support levels, indicating that bears sense an opportunity and are looking to take control of the price action. The short-term price action does not seem to worry the long-term Bitcoin bulls who expect a massive return in the next few years. While speaking at the Bitcoin 2022 conference in Miami, ARK Invest CEO Cathie Wood reiterated her Bitcoin price target of $1 million by 2030. Meanwhile, telecom billionaire Ricardo Salinas said during the conference that BTC and Bitcoin equities form 60% of his liquid investment portfolio. That is a massive increase from his Bitcoin exposure in 2020, which formed just 10% of his liquid assets. Daily cryptocurrency market performance. Source: Coin360 While the long-term may be ...
Vitalik Buterin quietly donates $5M ETH to aid Ukraine as total tracked crypto donations reach $133M
As told by Aid for Ukraine, a joint initiative created by the Ukrainian government, FTX, Everstake and Kuna to rally crypto donations for the country, Ethereum (ETH) co-founder Vitalik Buterin made $5 million worth of ETH donations to Ukraine in early April. According to the entity, despite the large donation sum, Buterin did not make an announcement regarding the transaction. It was eventually linked to him via the Ethereum Name Service domain name “vitalik.eth,” which served as the origin of the transfer. .@VitalikButerin donated almost $2.5M in $ETH to @_AidForUkraine 2 days ago, and didn’t say a word! He’s also donated $2.5M to @Unchainfund. Thanks for your enormous help, Vitalik, and thank you for creating @ethereum! The #Ethereum community is pic.twitter.com/H...
Boba Network to prioritise Ethereum’s computational constraints with a $45M funding
The $45 million Series A round was completed in the fourth quarter of last year via a token sale The hybrid computing platform aims to resolve the ignored scalability aspect of Ethereum – its computational limitations Ethereum overlay solution Boba Network has announced that it completed a $45 million Series A raise during Q4 of 2021. With a valuation of $1.5 billion, Boba has joined the ranks of unicorns within this nascent space. Without a lead investor, the hybrid computing platform enjoyed broad participation, with investors ranging from industry-native venture funds to celebrity figures. Infinite Capital, Crypto.com, Kinetic Capital, Huobi, Hack VC, BitMart, Will Smith, Keisuke Honda, and Paris Hilton were all involved. The network said that funding for the Series was secured via a to...
3 reasons why Ethereum price can hit $4K in April
Three market catalysts suggest that Ethereum’s native token Ether (ETH) is well-positioned to reach $4,000 this month. Google searches for “Ethereum merge” spike Internet users’ interest in Ethereum’s upcoming network upgrade, dubbed “the Merge,” surged substantially in the week ending April 2, Google Trends’ data shows. Searches for the keyword “Ethereum Merge” reached a perfect Google Trends score of 100 on a 12-month timeframe with most traffic coming from the U.S., Singapore, Canada, and Australia. Internet trend score for the keyword ‘Ethereum Merge.’ Source: Google Trends Merge, also called ETH 2.0, refers to the Ethereum network’s full transition to Proof-of-Stake (PoS) from Proof-of-Work (PoW),...
Vitalik Buterin is worried about Ethereum — Here’s how the community responded
Ethereum co-founder Vitalik Buterin expressed his concerns about the blockchain’s future in a recent interview, and attendees of the recent ETHDubai event voiced mixed sentiments toward his perspective on crypto’s perils. In an interview with Time magazine, Buterin pointed out some of his worries regarding the network, including it being populated by players who are only after profit and deviate from the original vision of an egalitarian platform. “If we don’t exercise our voice, the only things that get built are the things that are immediately profitable,” he said. The recent ETHDubai event at Le Meridien Dubai. Commenting on Buterin’s woes, Sergej Kunz, co-founder of 1inch Network, expressed that he disagrees highly with the Ethereum co-founder. Kunz said that while there are ...
Ethereum worth more than Turkish lira and Norwegian krone
A little over two weeks ago, I wrote about the value of ETH versus fiat money, with an emphasis on the Russian ruble. ETH is up 35% during this period, so a good time to look back. Ethereum in 27th place As can be seen from Coinmarketcap’s data, Ethereum is ranked number 27 by market value. This is 13 spots below bitcoin, which has not moved a single spot in the same time period. Ethereum is four spots higher than two weeks ago. Ethereum is under the Polish zloty, which is still number 26. But ETH has gained territory against the Chilean peso, the Norwegian krone and the Turkish lira. These fiat currencies are now worth less than Ethereum, and that is a big win. Russian ruble is crawling back up In total, there are 101 currencies on Coinmarketcap’s list, with Bitcoin bein...
AVAX traders anticipate a new ATH even as Avalanche DApp use slows
Avalanche (AVAX) jumped 43.8% between March 14 and March 31 to a $97.50 daily close, which is the highest level since Jan. 5. This layer-1 scaling solution uses a proof-of-stake (PoS) model and has amassed $9 billion in total value locked (TVL) deposited on the network’s smart contracts. AVAX token/USD at FTX. Source: TradingView Subnet adoption propels the recent price rally Some analysts attribute the rally to Avalanche’s incentive program to accelerate the adoption of subnets which was announced on March 9. According to the Avalanche Foundation, subnets enable functions that are only possible with “network-level control and open experimentation.” The program will allocate up to four million AVAX, worth roughly $340 million, to fund decentralized applications focused on gaming, nonfungib...
Price analysis 4/1: BTC, ETH, BNB, SOL, XRP, ADA, LUNA, AVAX, DOT, DOGE
Bitcoin (BTC) has clawed back much of the losses that took place in January and now the focus of traders shifts to April, which has historically been a strong month for the cryptocurrency. According to Coinglass data, Bitcoin has closed April in the red on onlthree occasions and the worst monthly loss was a 3.46% drop in 2015. Although history favors the bulls, the Whale Shadows indicator has noticed that more than 11,000 Bitcoin has left a wallet in which it had been lying dormant for seven to ten years. The movement of similar-sized quantities from dormant accounts has generally resulted in a major top, according to independent market analyst Phillip Swift. Daily cryptocurrency market performance. Source: Coin360 Along with keeping an eye on the crypto markets, traders should ...
Traders predict $3,800 Ethereum, but multiple data points suggest otherwise
Investors tend not to complain about a price rally, except when the chart presents steep downside risks. For example, analyzing Ether’s (ETH) current price chart could lead one to conclude that the ascending channel since March 15 is too aggressive. Ether price at FTX, in USD. Source: TradingView Thus, it is only natural for traders to fear that losing the $3,340 support could lead to a retest of the $3,100 level or a 12% correction down to $3,000. Of course, this largely depends on how traders are positioned along with the Ethereum network’s on-chain metrics. For starters, the Ethereum network’s total value locked (TVL) peaked at ETH 32.8 million on Jan. 23 and has since gone down by 20%. TVL measures the number of coins deposited on smart contracts, including decentralized fi...
Ethereum is like the best and worst parts of New York: Grayscale
Digital asset manager Grayscale has published a report on smart contract platforms in which it likens the Ethereum (ETH) blockchain to the best and worst parts of New York City. The report examines the granddaddy smart contract network Ethereum in comparison to newer competing blockchains such as Solana (SOL), Avalanche (AVAX), Polkadot (DOT), Cardano (ADA) and Stellar (XLM). The report comes in the wake of the firm launching a crypto fund dedicated to smart contract platforms excluding Ethereum. In a section titled “digital cities,” Grayscale analyzed Ethereum, Avalanche and Solana. The firm compared Ethereum to the Big Apple, noting that they both share similarities with issues that arise from their stature: “Ethereum is like New York City: it is vast, expensive, and congested in certain...
