This year’s 500% accumulated gain took Ether’s (ETH) price to a $4,380 all-time high on May 12, and this rally was even more robust than the late-2017 move. The famous bull market, or bubble, depending on how you see it, took Ether’s price on a 390% rally from $290 in November 2017 to $1,420 in mid-January 2018.  Maybe this year’s mega rally was a DeFi and NFT bubble that will take another two years to reclaim its peak, but it seems premature to make a prediction now. However, some analysts,… Source link

The ethereum network runs the ether cryptocurrency. Photo by Yuriko Nakao/Getty Images) The hotly anticipated London upgrade to the ethereum network, which will change how fees work and start to destroy ether coins, is on track to launch on August 4, developers have said. Named the “London hard fork”, the upgrade has already started to be rolled out on test versions of the ethereum blockchain. But ethereum developer Tim Beiko confirmed on Wednesday that the upgrade was ready and should… Source link

The Ethereum price has been finding reasons to rally lately even as the broader cryptocurrency market stalls. The second-biggest cryptocurrency is up more than 3% in the last 24-hour period and has advanced by more than 10% in the last week. Investors are increasingly finding reasons to be bullish — including the launch of decentralized exchange (DEX) ShibaSwap and a bullish report out of Wall Street — and they are running with both catalysts. ShibaSwap Strengthens ETH Demand ShibaSwap was… Source link

Reuters China clampdown could spur fresh short-selling of U.S.-listed shares, says S3 Short interest in a group of such stocks has fallen from $50.6 billion to $43.5 billion this year and short interest as a percentage of float fell from 5.67% to 3.81%, reflecting a closing out of some positions that were in the red after a market rally in January and February, Ihor Dusaniwsky, S3’s managing director of predictive analytics said in a report. The shorts, bets that shares will fall in the… Source link

Ethereum Ethereum rallied by 5.67% on Tuesday. Reversing a 5.42% slide from Monday, Ethereum ended the day at $2,321.84. A mixed start to the day saw Ethereum fall to an early morning intraday low $2,195.02 before making a move. Steering clear of the first major support level at $2,130, Ethereum rallied to a late morning intraday high $2,350.00. Ethereum broke through the first major resistance level at $2,295 before a pullback to $2,250 levels. Finding support, however, Ethereum broke back… Source link

Goldman Sachs said in a note to clients on Tuesday that the blockchain with the highest “real use potential” is Ethereum, suggesting its ETH could become the dominant digital store of value. As such, Goldman predicts the total market capitalization of ether (ETH) could overtake the total market cap for Bitcoin (BTC) in the coming years, according to a report in Business Insider.  “[Ether] currently looks like the cryptocurrency with the highest real use potential as Ethereum, the platform on… Source link

Bitcoin traded sideways on Tuesday as market participants digested the latest regulatory crackdown from China. On Monday, the People’s Bank of China (PBOC) reiterated its long-held anti-crypto stance, warning institutions against providing services to crypto-related companies.  China’s announcement preceded choppy price moves around $34,000, which left traders with little sense of direction. Bitcoin trading remains in a tight range and the price is down about 6% over the past week. Latest… Source link

Ethereum cryptocurrency owners have now staked more than $14 billion worth of their tokens on the Ethereum 2.0 network, Etherscan data shows. It marks a rise from around $13.5 billion staked on Monday, as reported by Markets Insider, which highlights the pace of the shift towards Ethereum 2.0. Ethereum 2.0 represents a fundamental change in how the Ethereum blockchain works. Staking explained In order to remain decentralized—that is, operating without a central authority—cryptocurrency… Source link

Bitcoin and ether are the two biggest cryptocurrencies. Yuriko Nakao Major upgrades to the ethereum network could help ether gain a reputation as a store of value, in a potential challenge to bitcoin, Danish investment bank Saxo has said. Developers on the ethereum network have launched an update that will change the way transaction fees work. After each transaction, part of the fee will be “burned”, destroying ether and limiting its supply. The changes, which are known as the “London… Source link

Bitcoin remains in a horrendously low-volume period of price action as volatility slumps to its lowest levels since November 2020. At the time of writing, Bitcoin was trading at $34,300 having ground out the lower time frame range between $33,000 and $36,000 with numerous stabs at both the upside and downside. All higher time frames continue to paint a bearish view on Bitcoin, with the recent daily death cross heaping pressure on the bulls, who are slowly but surely running out of ideas as… Source link