The Ethereum Merge is about five weeks away and as the count down to the main event narrows, the phrase, “buy the rumor, sell the news” is expected to play out. This means we should expect an increase in the demand for ETH within the next four weeks. A look at ETH’s on-chain metrics reveals that this is already happening. Whales are scooping up ETH Whales holding large amounts of ETH have notably increased their balances, especially in the last four weeks. This is… Source link

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Alex Dovbnya Former BitMEX CEO Arthur Hayes believes that the price of Ethereum could soar higher after the merge upgrade Arthur Hayes, the former CEO of the BitMEX cryptocurrency exchange, claims that the current Ethereum futures term structure may point to a significant rally after the merge. Backwardation described a term structure where futures contracts trade lower compared to the cryptocurrency spot price. While it might be seen as a reason to be bearish on the price of Ethereum,… Source link

Monero [XMR] performed impressively over the last 24 hours with a 6.28% uptick. On the previous day (10 August), the XMR price was $159 as per CoinMarketCap. At press time, it was trading at $168.16, drawing attention and possibly on its way to another solid performance like it did in July. Before now, Monero had been involved in several proposals—making moves to transition from one network to another. Additionally, the private cryptocurrency made its network upgrade a… Source link

Ether’s (ETH) impressive 85% gain in the past 30 days has surprised even the most bullish investors, and it makes the $800 range seen in mid-July seem like ages ago. Bulls now hope to turn $1,900 to support, but derivatives metrics tell a completely different story, and the data suggests that professional traders remain highly skeptical. Ether 1-day price index, USD. Source: TradingView It’s important to remember that the leading cryptocurrency, Bitcoin (BTC), gained 28% in the same… Source link

Bitcoin (BTC) continued toward $25,000 on the Aug. 11 Wall Street open amid news that the world’s largest asset manager had launched a BTC product. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Silbert on BlackRock: “Here comes Wall Street” Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it spike to $24,921 on Bitstamp as United States stocks trading got underway. While going on to consolidate slightly below the highs, the pair inspired confidence in market… Source link

The world’s first and largest cryptocurrency is making gallant steps towards the greens in a recent outturn of events. Bitcoin is experiencing a sharp rise in price within its market. Recent trading activities got BTC’s price to hit the $24,000 mark. This creates a positive record for the top cryptocurrency across the industry. Though Bitcoin is making a tremendous improvement in value, its number of active addresses seems to be downtrend. The sudden growth in price for BTC likely has… Source link

The latest hardfork on Monero will bring key improvements in terms of network efficiency and performance. Binance said it will support the hardfork by handling all technical requirements involved for all users holding XMR in their Binance accounts.  Privacy blockchain network Monero has announced that it will undergo a network upgrade this week on August 13. This will be nothing but a hardfork in… Source link

Noelle Acheson, head of market insights at Genesis Global Trading, shared a similar opinion, saying the core CPI appears stick and the so-called Fed pivot may be months away. “The data yesterday does not mean the Fed will ease up on rate hikes, not until they see a trend of core CPI moderation, which is probably months away,” Acheson said. Source link

Bitcoin might be down, but the leading crypto remains ever-present in the financial world. Despite its high volatility, thousands of investors dream of owning a minimum of 1 Bitcoin in their respective wallets. Now that BTC slumped in price compared to 2021, it is more affordable to investors in these bearish conditions. On-chain market intelligence and analytics platform Glassnode published a report that shows investors are flocking toward Bitcoin amid volatile markets. As of today, the… Source link