Lido Staked ETH (stETH) Close To Ethereum Price, Why It’s Good For Crypto

The Ethereum merge from Proof-of-Work (PoW) to Proof-of-Stake (PoS) is now roughly 30 days away after what feels like years of anticipation. While price action is the mainstay pillar of speculation, anticipation over ‘The Merge’ continues to grow – and so too does ETH’s market dominance. New data shows that Ethereum continues to gain ground […]

The crypto community has been on alert since the crash of LUNA, ETH, and USDT. Investors depend on stablecoins to hedge against price volatility in the crypto market. These stablecoins are pegged to USD, meaning each coin is worth the same as 1 USD. So, for instance, holding 1USDT or USDC is the same as […]

What’s the story around Tornado Cash? The U.S. Department of the Treasury made its case in a press release, but the question still lingers. Because, as many people have pointed out, Tornado Cash is not an institution. It’s a smart contract in the Ethereum blockchain and, according to US law, code is supposed to be […]

Total value locked (TVL) on Optimism, a layer-2 scaling solution for the Ethereum blockchain, has increased 284% in the last month, according to data from DefiLlama. Users lending and borrowing assets on Aave through Optimism’s layer-2 chain make up the vast majority of TVL. Ethereum Optimism TVL Surges In anticipation of The Merge update, which will see the blockchain switch from a proof-of-work network to one based on proof-of-stake, investors have been bidding up digital assets tied to the Ethereum ecosystem. The merge will be tested by Ethereum developers on the Goerli testnet on Thursday, August 11. If everything goes according to plan, the mainnet merging will be approved on September 19. The mainnet merge would probably be delayed if there are issues with the Goerli merge. The Merge’s anticipated launch date has been set for September 19, according to a recent Ethereum developer call. With Rollups, or off-chain computations, Optimism, an Ethereum layer-2 blockchain, aims to extend the ecosystem and expedite transactions. On Optimism, transactions are entered, and on Ethereum, they are completed. ETH/USD trades at $1,853. Source: TradingView The project is home to 35 protocols, including automated market maker Velodrome, decentralized exchange Uniswap, and derivatives exchange Synthetix. The Ethereum blockchain’s current capacity of 30 transactions per second is inadequate to manage the enormous amount of user trade orders on exchanges (including cancellations). Nevertheless, according to some analysts, the network might scale to 100,000 transactions per second with The Merge upgrade, with layer-2 solutions improving this capacity even further. Related Reading: Uniswap Price Falls Below $9 After It Met With A Sell-Off, What’s Next? Optimism blocks are constructed and executed on layer-2 while user transactions are batched up and submitted to the Ethereum layer-1. On layer-2, transactions are immediately accepted or rejected with no mempool, enabling a fast user experience. Correspondingly to the TVL development, the project’s namesake tokens have also rallied by 300% during the same period. Dai on Optimism 👀 From 30 million to 140 million in 5 days. pic.twitter.com/AQlNWvX6c9 — Maker (@MakerDAO) August 9, 2022 Goerli Testnet: A Brief The Ethereum network will be one step closer to its biggest update yet in less than 24 hours. The second-largest cryptocurrency by market capitalization has been preparing to switch from Proof-of-Work (PoW) to the significantly less energy-intensive and, in some people’s opinions, more decentralized Proof-of-Stake for years (PoS). Senior Ethereum developers stated last month that the so-called “Merge” to “Ethereum 2.0” will occur on September 19. However, there is still a challenge for developers to overcome before the “Merge” can be implemented on Ethereum’s mainnet. Developers want to implement the merging on one last testnet after completing the switch from PoW to PoS on two of Ethereum’s main testnets (Ropsten and Sepolia) in June and July. From its mid-July lows under $1,000, Ethereum has increased by more than 80%, and at last check, it was trading in the mid-1,800s. While most of this has coincided with a larger cryptocurrency market rebound amid an uptick in macro mood (Bitcoin is up over 25% from its mid-July lows), analysts have indicated that anticipation ahead of the merger has been a key tailwind driving ETH higher. Related Reading: Why Are Crypto Investors Rotating From Bitcoin To Altcoins? Featured image from iStock Photo, chart from TradingView.com

The ETHPoW fork proposal comes from the miners. It’s only logical that they want to keep Ethereum as a Proof-Of-Work chain, since all of their profit will evaporate overnight with the change to Proof-Of-Stake. The merge is supposedly only weeks away, and the Ethereum community has their hearts set on the proposed changes. Nevertheless, the […]

The U.S. government has been targeting crypto entities that they claim can enable bad actors to transact outside of the financial system, crypto exchange Tornado Cash was the latest addition. The Ethereum-based protocol was included in the Office of Foreign Assets Control (OFAC) Specially Designated Nationals and Blocked Persons List (SDN). Related Reading: Crypto Markets […]

Recent news reported the constant increase of developers in some renowned digital currencies, especially Ethereum. The effect has increased the Web3 community strength and is looking to maintain this course in the long run. The news cited that the growth is a function of the participation of developers in the major ecosystems. According to the information from Telstra Ventures, the major digital currencies involved here are Bitcoin, Ethereum, and Solana. Telstra Ventures is a known investing arm of telecommunication in Australia. Related Reading: Has Bitcoin Price Found Support At A Decade-Long Trend Line? Notably, the report also compared the level of strength of all three ecosystems. From available data, Ethereum seemed to possess a more prominent and stronger community of developers than the others. Also, the information stated that there are still opportunities available in these three digital currencies. Observations are that there is still a wide range of unfunded opportunities on the ETH network. Aside from that, it was also reported that investors were only able to use half of the 10 top projects in these ecosystems. Ethereum Leads With Active Contributors The primary metric determinant of an ecosystem that shows its strength is the number of consistent contributors the ecosystem has. Another factor is the rate of usage and how well-known the ecosystem is. The popularity and use are what draws the attention of other contributors to the digital currency network. Going further, Telstra has carried out an in-depth investigation on the active developers in all three ecosystems in the last four years. Drawing from the data obtained, the community of the Eth network increased by 24.9%. This was dated from the 1st of January 2018. Considering the current state of the crypto market, it is not out of place to say that this growth is quite surprising. As of July 2022, only 9% of the monthly contributors in the Eth network dropped after the drastic plunge in the prices of digital currencies in November. The information indicates that the current crypto winter does not affect the developers of these ecosystems. More factors also contribute to the steady increase in the contributors of this digital token. A prominent example is the anticipated Eth Merge. This event is intended to move the blockchain from its current Proof-of-Work (PoW) system to that of a Proof-of-Stake (PoS). One of the intents of the Merge is to draw more interest from contributors to the network. Currently, the total number of active contributors in this ecosystem is more than 2,500. This has been the figure at the end of each month, dating from the first half of last year. BTC And SOL Devs Growth Overview Moreover, SOL obtained a compound yearly growth rate of about 173%, which occurred during the same period as ETH. At the time, its price reached a peak of $204. But somehow, its rate dipped to about 21%, with a total number of active contributors of slightly more than 250. Related Reading: What Is FLOW Blockchain And Why Is The Price Up 100% In The Last 24 Hours? Meanwhile, BTC has had a steady 8% monthly contributors growth rate dating from its last peak in November last year. Featured image from Pixabay – Chart from TradingView.com

A recent report noted that BH Digital, a Brevan Howard Asset Management subsidiary, is taking a progressive growth measure in the crypto sector. It has successfully generated over $1 billion through institutional investments. The project intends to channel the fund to its crypto strategies and development plans. It is currently accepting more investments in continuation […]

Ethereum price was trading laterally between the $1,700 and $1,600 price mark. At the moment Ethereum was standing firm on the $1400 support line. Over the last 24 hours, Ethereum price depreciated over 4%. Bearishness started to prevail on ETH’s chart and technical outlook pointed towards the same direction. For the bulls to resurface Ethereum price needs to climb above the $1,745 price ceiling. Incase ETH manages to break past the $1,745 price mark and remains above that level, chance of revisiting $2,000 aren’t bleak. Buyers exited the market as the coin met with a sell-off on its four-hour chart. Ethereum price might trade near the $1,300 price mark in case sellers take over the market. Over the past week, Ethereum noted positive price action however, the bulls were unable to hold onto the momentum. Ethereum price is also likely to be affected considerably by the Ethereum merge that is due in the month of September. In this software upgrade, the token will move from a Proof-of-stake (PoS) consensus to Proof-of-work (PoW) consensus. This would render mining useless because validators will be in charge of securing the new network. Ethereum Price Analysis: Four Hour Chart   ETH was trading at $1,590 on the four hour chart. Currently the coin has managed to stay afloat over the $1,500 support line. Incase the number of sellers start to overpower the buyers, Ethereum price could soon fall to $1,300 on its chart. Over the last week the coin has been moving up and down between the $1,700 and $1,600 price levels respectively. Immediate price resistance for the coin was at $1,745 and for bulls to be back, it is vital ETH moves above that level. Local support for the coin was at $1,471 and a push by bears could make Ethereum price trade as low as $1,300. The amount of Ethereum traded remained low highlighting bearishness as sellers returned on the chart. Technical Analysis The altcoin captured the effects of a sell-off as the indicators point towards negative price action. The Relative Strength Index was situated below the half-line as sellers took over the market. Continued selling pressure will cause Ethereum to further lose considerable value. Ethereum price was below the 20-SMA line, this reading was considered bearish. It meant that sellers were driving the price momentum in the market. Related Reading | Polkadot Price Moves Above $8, Sets Eye On $9 Ethereum flashed sell signal on the four hour chart | Source: ETHUSD on TradingView ETH’s other indicators were in agreement with the fall in buying pressure. As Ethereum price extended losses, the coin continued to depict sell signal on its chart. Moving Average Convergence Divergence depicts the price direction and change in the same. MACD underwent bearish crossover and that gave rise to red histograms which are tied to a sell signal for the coin. Parabolic SAR identifies the current trend in the market, the reading suggested that there was a downtrend as the indicator’s dotted lines were above the candlestick. Related Reading | TA: Ethereum Eyes Fresh Rally If It Clears This Key Breakout Zone Featured image from UnSplash, chart from TradingView.com

As per the report from Telstra, Ethereum has the “largest and strongest” developer community. In July, the number of monthly active contributors on Ethereum was 4x greater than Bitcoin’s 400 contributors and 6x greater than the 350 contributors on Solana. 2022 has been one of the most brutal bear markets in the history of crypto. […]

Der Beitrag Despite market slowdown, active contributors to Bitcoin, Ethereum and Solana on the rise erschien zuerst auf Crypto News Flash.

The average ETH gas fee continues to be very low despite price increase in recent times although there is still to be Ethereum FOMO. The shortfall in Ethereum (ETH) total circulating capacity has had an impact on the transaction fees. However, a wave of uncertainty and momentum in the network could alter the situation. The

The post This Could Happen If Ethereum (ETH) FOMO Occurs In Short Term appeared first on CoinGape.

The non-fungible token (NFT) sector has experienced massive growth in terms of adoption. The digital assets have been able to breach into the mainstream media and attracted the attention of millions of new users. With the price of Bitcoin and Ethereum on a decline, the NFT sector might be taking a harder hit. However, a […]

Ethereum has been at the forefront of the crypto market recovery in recent times. This is because the price of Ethereum had rallied following an important update regarding the upcoming Merge, and the market had recovered in kind. ETH’s price had quickly grown to one-month highs and had seen its value grow beyond $1,700. This had no doubt put a good number of ETH investors ahead when it comes to profit. ETH Profitability Grows Ethereum had seen its profitability decline following the market crash that rocked June. For the first time in a year, the percentage of Ethereum holders who had been in profit had declined to below half, causing intense sell pressure in the market. However, the recovery would come just as quickly as the crash, and the majority would be flung into profit once more. Related Reading | Bitcoin Bounces Off Consolidation Range, What Lies In Store? This is currently the case where more than half of all ETH investors are currently seeing profits. According to data from IntoTheBlock, ETH investors who are in the money come out to a total of 57% at the time of writing. It has come with increased confidence in the cryptocurrency as only 41% of all holders are currently experiencing a loss, with 2% sitting tentatively in neutral territory. Another interesting metric regarding the digital asset is the number of long-term holders it boasts. With 62% of all investors have held their coins for more than a year, it means that almost all of those in profit are long-term holders, once more promoting the belief that diamond hands get rewarded the most in crypto. Ethereum Investors Take Profit With the recovery in price, there has been a lot of selling going on in Ethereum. This is understandable, given that investors would want to take some profit after the June crash. This has seen the exchange inflows increase over the last week. ETH falls below $1,700 | Source: ETHUSD on TradingView.com Exchange data shows that for the last week alone, $3.2 billion in ETH flowed into exchanges compared to the $2.9 billion that flowed out. This shows that there are more sellers than buyers in the current market, which would explain the downtrend that has seen ETH’s price decline below $1,700. Related Reading | Elevated Bitcoin Open Interest Levels Puts Market In Vulnerable Position However, it does seem like the tide is starting to turn on this front, given the ETH net flows for the past day. A total of $188 million in ETH had flowed into exchanges, while $199.8 million had flowed out. Not a large margin, but it means investors are beginning to accumulate as the price has declined. ETH is trading at $1,655 at the time of this writing. It remains the second-largest cryptocurrency with a market cap of more than $200 billion. Featured image from CoinQuora, chart from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…

Even though the concept of the Metaverse is still in its infancy, the creator of Ethereum thinks that tech giants – like Facebook – would have a hard time laying its groundwork. Vitalik Buterin, Ethereum founder, expressed his opinion on Twitter Sunday, on the future of the nascent sector and his assessment that enterprises seeking […]

Ethereum has fallen below its $1,600 support level and has displayed bearish sentiment on the chart. Broader market weakness has also contributed to Ethereum’s current price action. Bitcoin had fallen to the $20,000 price mark and altcoins depicted similar price movements. Ethereum over the last 24 hours depicted some minor appreciation on the chart. The altcoin’s technical outlook remained bearish. Buying strength had fallen over the past two days and at press time the coin ‘s movement was dominated by sellers. Continued selling pressure can pull ETH to the $1,100 price level before it starts to pick up momentum again. In case the bulls find their way back into the market, ETH might continue to consolidate on its chart and then try to rise. Buying strength also has to recover significantly for Ethereum to invalidate the bearish thesis. Over the last week, Ethereum lost 4% of its market value. Ethereum Price Analysis: Four Hour Chart   ETH was exchanging hands at $1472 at the time of writing. After Ethereum witnessed a sharp fall, it tried to recover slowly but bearish pressure was still strong in the market. Overhead resistance for the altcoin was at $1,542 and a current fall in price will drag ETH to $1,260. For bearish thesis to be negated Ethereum has to trade above the $1,600 price mark for longer than a few trading sessions. If buying strength doesn’t display consistency then Ethereum can fall to $1,100 in just a matter of time. The volume of ETH traded in the last session rose which indicated that buying strength struggled to move north on the chart. Technical Analysis The altcoin over the last 24 hours registered some increase in price, although technical outlook was bearish, buying strength tried to recover. The Relative Strength Index was below the half-line but over the last trading sessions, there was an uptick in the indicator. This meant that buying strength was recovering on the four hour chart. Despite the recovery, the price of the altcoin was below the 20-SMA line, a reading below the 20-SMA line points towards sellers driving the price momentum in the market. Related Reading | Shiba Inu Whales Trading Volume Surges 640% As SHIB Holds Critical Support The fall in price can be directly tied to a sell signal. The Moving Average Convergence Divergence depicts price momentum and reversals in the same. MACD underwent a bearish crossover and flashed red signal bars which are tied to sell signal for the coin. Directional Movement Index presents price direction and where the coin is headed next. DMI was negative as the -DI line was above the +DI line. The Average Directional Index (Red) was below the 20 mark which meant that the current price action was losing steam. Related Reading | TA: Ethereum Recovery Faces Major Hurdle, Risk of Fresh Decline Exits Featured image from UnSplash, chart from TradingView.com