Ethereum

Ethereum Hashrate Taps an All-Time High Amid This Week’s Crypto Market Meltdown – Mining Bitcoin News

Amid the crazy week in the world of cryptocurrencies and the Bitcoin network’s mining difficulty reaching a lifetime high at 31.25 trillion, Ethereum’s hashrate tapped an all-time high on May 13, at block height 14,770,231. Cryptocurrency miners continue to dedicate large quantities of processing power toward the second-largest crypto network in terms of market capitalization. Ethereum’s Hashrate Continues to Climb Higher Proof-of-work (PoW) ethereum miners are working harder… Source link

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Bitcoin Breaches $30K as Ethereum, Cardano, Solana Join Weekend Rally

Bitcoin, the largest cryptocurrency by market cap, briefly rose above $30,000 today after six straight weeks of market declines. As of this writing, Bitcoin was up nearly 4% to 29,980.72, according to CoinMarketCap data. Elsewhere, a weekend rally saw Ethereum gain more than 5% to $2,065.31, Cardano add more than 11% to $.553, and Solana rise over 14% to $53.24. The gains come after an unprecedented week in the crypto space, headlined by Terra’s UST and LUNA imploding. Last week saw $200… Source link

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Ethereum in danger of 25% crash as ETH price forms classic bearish technical pattern

Ethereum’s native token Ether (ETH) looks ready to undergo a breakdown move in May as it forms a convincing “bear pennant” structure. ETH price to $1,500? ETH’s price has been consolidating since May 11 inside a range defined by two converging trendlines. Its sideways move coincides with a drop in trading volumes, underscoring the possibility that ETH/USD is painting a bear pennant. Bear pennants are bearish continuation patterns, meaning they resolve after the price breaks below the… Source link

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Will the Ethereum 2.0 update reduce high gas fees?

Purpose of Ethereum 2.0 The primary goal of the Ethereum 2.0 update is to improve scalability so that the network can handle more transactions without delays or high fees.  While the full effects of the update will not be felt until it is fully rolled out, some of the possible use cases for Ethereum 2.0 include: Supporting the large-scale enterprise adoption of blockchain technology in private corporations and businesses; Creating more decentralized autonomous organizations… Source link

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Two equal chances to dominate the Web3 world

For most casual digital asset investors, the Ethereum 2.0 upgrade promises to be a game-changing event that will improve efficiency, reduce network costs and propel the entire blockchain and crypto space closer to a Web3 reality. Ethereum has been struggling with a lack of scalability and skyrocketing gas fees, and since it serves as the largest smart contract and DApp development platform, the move to a more reliable and scalable proof-of-stake (PoS) blockchain will be a welcome… Source link

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Bitcoin and Ethereum had a rough week, but derivatives data reveals a silver lining

This week the crypto market endured a sharp drop in valuation after Coinbase, the leading U.S. exchange, reported a $430 million quarterly net loss and South Korea announced plans to introduce a 20% tax on crypto gains. During its worst moment, the total market crypto market cap faced a 39% drop from $1.81 trillion to $1.10 trillion in seven days, which is an impressive correction even for a volatile asset class. A similar size decrease in valuation was last seen in February 2021, creating… Source link

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Ethereum Could Skyrocket If This One Thing Finally Happens

Ethereum (ETH -3.43%) has long played second fiddle to Bitcoin (CRYPTO: BTC) in the crypto world, despite the fact that many of the most exciting innovations in the crypto space (including the creation of NFTs and smart contracts) actually originated on the Ethereum blockchain. According to market capitalization, Bitcoin is still nearly twice as large as Ethereum, and many casual investors may keep a close eye on the price of BTC but seem to pay little or no… Source link

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Analysts say Ethereum price must hold this key level to avoid a capitulation-level move

The crypto market experienced another day of pain on May 12 as the fallout from the Terra’s LUNA and UST failure continues to ripple across the ecosystem. While the coverage for UST and its impact on Bitcoin (BTC) have been extensively covered over the past few days, the pullback has also had a significant impact on the price of Ether (ETH) as traders hastily exited the market. Data from Cointelegraph Markets Pro and TradingView shows that the past seven days of selling dropped Ether to… Source link

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Look out below! Ethereum derivatives data hints at further downside from ETH

Ether (ETH) is down 38% in three weeks and the current $2,000 level is 59% below the $4,870 all-time high that was reached in November 2021. Additional newsflow that added to the current market wide volatility were the bankruptcy fears that emerged after Coinbase, the largest U.S. exchange reported a $430 million first-quarter 2022 loss.  In the most recent 10-Q filing Coinbase included the following disclosure: “In the event of a bankruptcy, the crypto assets we hold on behalf of our… Source link

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Will Ethereum Be The First Crypto To Recover?

In yesterday’s article on Bitcoin BTC/USD, I highlighted a support level where the price is trading around that has the potential to end its decline and encourage a reversal back to the upside. The price, as of Thursday, trading below this level, but only just. I tend to look at these levels as zonal areas instead of hard levels. We will get a better idea if this level holds firm by the end of this week, or even the end of May, once we have confirmed closing prices. Fake breakouts are… Source link

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