While Ethereum was trading above $450 at press time, the ETH-BTC correlation remained tight at around 0.76, based on data from CoinMetrics. In fact, Ethereum’s price has gained by 3.69% over the past week and considering the progress of ETH 2.0’s validator nodes, it may seem obvious that many traders are long on ETH. High...Read More
Disclaimer: The findings of the following article are the sole opinion of the writer and should not be taken as investment advice The transition of Ethereum to Ethereum 2.0 is what the ecosystem is concerned about, especially since ETH did react as expected during the DeFi summer. At the time of writing, Ethereum’s price charts were...Read More
Hong Kong-based cryptocurrency exchange KuCoin aims to enter the non-fungible token market as its liquidity trading platform Pool-X will open deposits of NFT assets starting November 16th. Pool-X will launch an exchange platform designated for NFT tokens in the upcoming months. KuCoin To Launch An NFT Exchage According to the announcement from earlier today, the...Read More
Running an ETH 2.0 validator node is a lucrative prospect, at least for ETH Maximalists. It takes 32 ETH to run one on your own. Naturally, since 32 ETH is a substantial amount, many have instead turned to pools. In fact, so far, 83,872 ETH have been staked. However, what’s interesting here is that a...Read More
DeFi’s total market capitalization stood at $15.8 billion against Ethereum’s market capitalization of $51.8 billion, at press time. This means that as of mid-November 2020, DeFi’s market capitalization is already over 30% that of Ethereum’s and it won’t be long before it explodes to surpass ETH’s own market capitalization. Since its launch in 2015, Ethereum’s...Read More
The Crypto Fear and Greed Index was noting a figure of 86, at the time of writing, with the same over 80 for over a week now. Ethereum was on a strong uptrend and pulled back to a level of support while Cosmos looked set to register a small drop in price. Enjin, on the...Read More
The Ethereum community was elated by the announcement of the deposit contract on 4 November, although it had been deployed three weeks prior to the same. Along with the announcement of deposit contracts, the team also released v1.0.0 of the spec with some minor updates. According to Ben Edgington’s latest update, the funds for the...Read More
When the Crypto Twitter community reacts, it does so in a big way. And when the guys from the Bitcoin neighborhood unite, there’s nothing to stop them, especially when it comes to criticizing traditional financial institutions —whether they’re crypto-friendly or not. If this seems hard to believe, ask PayPal, who had to deal with significant...Read More
The team behind the mimblewimble-based privacy coin Beam will launch a DeFi platform enabling developers to create confidential, decentralized, and user-friendly financial applications. Dubbed BeamX, the platform will arrive on November 19th, with the first iteration being an experimental network, while the mainnet should be released in Q1 2021. Beam Announces DeFi Platform Called BeamX...Read More
In a development that has been dubbed an ‘unannounced hard fork,’ Ethereum developers introduced changes to the underlying code earlier in the day, changes that led to the Ethereum blockchain splitting. A new version valid for upgraded nodes was created and was seen as invalid by older ones that did not upgrade. The development gave...Read More
The world’s leading cryptocurrency exchange, Binance, has temporarily suspended withdrawals for ERC20 tokens. Upbit and Huobi follow suit. The issue comes after Infura – an Ethereum infrastructure provider is also experiencing problems. The team announced earlier today that they are experiencing a service outage for their Ethereum Mainnet API. In a later update, they’ve revealed...Read More
Infura, a hosted Ethereum node cluster that allows users to run applications without the need of an individual node or wallet, is experiencing downtime, at the time of writing. The infrastructure provider noted that it was experiencing a service outage that was causing a delay in the price feed to update for the Ethereum and...Read More
Bitcoin, Ethereum, and the entire crypto market seem to have stabilized for now. Bitcoin’s price has found a footing and everything is fine. As for the projects and the companies built in this ecosystem, it is a whole other thing; to be precise, there seems to be a dichotomy. Crypto’s Dichotomy As of this writing,...Read More
Trade volume on spot exchanges fell by 25%, while ETH Futures trade volume spiked. This implied that traders feared a correction. On the charts, Ethereum formed a symmetrical triangle that could see a breakout in the coming days. Tezos was in an uptrend but had not yet assailed an important level of resistance. Dash showed...Read More
ETH Futures trade volume was up by 38% in 2 days, at the time of writing, according to Skew’s charts. Not just the trade volume, but even the Open Interest was up by 8% based on Skew’s charts. On spot exchanges, the trade volume dropped by nearly 25%, but on derivatives exchanges, it climbed up....Read More
Disclaimer: The findings of the following article are the sole opinion of the writer and should not be taken as investment advice In a previous article, Ethereum’s make or break moment was explained as the cryptocurrency’s price nearly broke out of the massive bearish pattern. Since then, a lot has changed for Ethereum and this article...Read More
With Bitcoin’s price rallying, altcoins that are strongly correlated to the world’s largest cryptocurrency are set to benefit immensely from it. However, one unusual category of projects, DeFi, may benefit from Bitcoin’s rally too, despite its top projects being inversely correlated with Bitcoin. Correlation of cryptocurrency projects with BTC || Source: Cryptowatch Based on data...Read More
As the dust settles from one of the most tumultuous and divisive elections in recent history, crypto asset traders and analysts are looking for positives from the newly elected government and its leaders. America’s next leader for the coming four years, Joe Biden, has commented very little on cryptocurrencies, but that appears to be preferable...Read More
Ethereum’s price is up 13.21% in one week. What does this reveal? Well, the said price rally suggests that more retail and institutional traders would trade on spot and derivatives exchanges. However, the trade volume on spot exchanges is still oscillating around its mid-October levels. In fact, while the trade volume did climb above $300M...Read More
The last few days have brought good news for the Ethereum community. Not only did ETH rise on the charts, climbing to $441 from a value of $382 just under a week ago, but the community also welcomed the deployment of the deposit contract for ETH 2.0. Needless to say, optimism is running high, especially...Read More
The Crypto Fear and Greed Index stood at 88, after yesterday’s 90. For context, this index showed 83 and 79 on consecutive days and dropped to 40 in September when BTC dropped from near $12,000 to $9700. Ethereum was strongly bullish both technically and fundamentally and could post further gains after a minor pullback. Monero...Read More
Ethereum is one of the best performing crypto assets of the day, albeit behind its big brother. ETH prices got their initial boost on November 4 when the deposit contract was officially deployed. The asset rose 5% on the back of that to reach $405. Bitcoin is a bigger driver of momentum for ETH prices...Read More
The decentralized finance [DeFi] space has managed to carve out its position in the crypto sphere. For the better part of the year, when the crypto market had remained restrained under heavy sell pressure and other global economic turnarounds, the DeFi projects acquired great interest and led to a DeFi hype. During this period Ethereum...Read More
Ethereum 2.0 is finally undertaking fundamental strides in the developmental direction. Through months of anticipation, delayed launches, online spats with other proponents (i.e BTC maximalists), deposit contract for ETH 2.0 was finally deployed by the community. The immediate effect of the announcement was emphatic. Reports suggested that $1 million worth of ETH was locked in...Read More
A MetaMask user, attempting to swap Ethereum for a DeFi token, paid over $9,000 transaction fees while transferring only $120 worth of ETH. The user has reached out to the mining pool that processed the transaction for assistance but has yet to receive a response. A Costly ETH-DeFi Swap The user, going by the nickname...Read More
Out of Ethereum, Tezos, and Maker, only the king of altcoins has positive performance in the last month. ETH has seen a surge of 14.34% while XTZ and MKR are -15.76% and 8.49%. Let’s take a look at these coins individually and if they are bullish or bearish. Ethereum [ETH] Source: ETHUSD TradingView Ethereum 2.0...Read More
Blockchain adoption has just achieved a major milestone. The Associated Press has chosen the Ethereum blockchain to publish calls for the latest US Presidential election. The nearly 200-year-old New York-based non-profit news agency has been counting votes since its inception in 1848 and will do the same this year too by collecting, verifying votes, and...Read More
Ethereum’s creator officially announced the release of the Ethereum 2.0 deposit contract a couple of hours ago. ETHUSD markets responded with a large green candle that has pushed the network’s native cryptocurrency past the $400 mark. The question is, will this latest update help ETH outperform bitcoin once again? Ethereum 2.0 Deposit Contract Officially Released...Read More
With all eyes on the phased upgrade of Ethereum, the Foundation released an update today that the Ethereum 2.0 Phase 0 has now been set for an official launch at some time around 1 December this year. The update went on to state that the deposit contract was now live and can collect funds to...Read More
The growth of Ethereum has been experiencing a slow down compared to its journey in the first half of the year. As the crypto market deals with a much volatile period right now, ETH’s value has trended lower since the end of October and was currently at $382.10. However, the Ethereum community was met with...Read More
