After a period of strong selling pressure, the world's second-largest cryptocurrency has just experienced a rebound. Ethereum (ETH) is currently trading 5% higher at a price of $1248, with a market cap of $150 billion.
The recent price increase in ETH is the result of increased whale activity on Ethereum. Over 600 ETH transactions worth more than $100,000 have taken place on the Ethereum blockchain in the last 24 hours.

Since the dip purchase on December 16, ETH whale transactions have reached all-time highs. On-chain data provider Santiment explained:

“As the price of altcoins has increased, Ethereum has quietly recovered above $1,260 for the first time in three weeks. Though not quite at the level of the large whale dip buying on December 16th (ETH's local price bottom), whales are regaining popularity.”

The year 2022 ended with one of the worst crypto winters in market history. ETH and several other altcoins experienced price corrections of up to 70% in the last year. Coming into 2023, the Ethereum co-founder has expressed his confidence in the platform.

Vitalik Buterin Discusses Ethereum's Bright Future
While we are entering an era of major global economic uncertainty, Ethereum co-founder Vitalik Buterin has expressed his confidence in the platform's future development.

The Ethereum co-founder has stated that the Ethereum Improvement Protocol (EIP) 4884 will be launched later this year. In response to a post by former Coinbase technology officer Balaji Srinivasan, Vitalik Buterin stated that he was looking forward to reaching the "basic roll-up" milestone defined in the ETH roadmap.

However, Vitalik also highlighted other areas where crypto needs fixing and solutions. This includes making average user accounts safer, as well as scaling, privacy, and user experience. Vitalik Buterin is sure that decentralized finance (DeFi) will play an important role in the future financial system.

Also read: Pi Price Prediction for 2023: Is it Safe to Buy Pi Coin?

BTC.com, a major cryptocurrency mining pool, has suffered a cyberattack resulting in a significant loss of company and client funds.
On December 3, attackers stole around $700,000 in client assets and $2.3 million in company assets. The mining pool's parent company, BIT Mining Limited, made the official announcement on December 26.

The cyberattack was reported to law enforcement officials in Shenzhen, China, by BIT Mining and BTC.com. Following that, the local authorities initiated an inquiry into the occurrence, collecting evidence and asking for assistance from relevant Chinese agencies. As per the announcement, the initiatives have already assisted BTC.com in recovering part of the assets.

BIT Mining stated that it will make significant attempts to retrieve the stolen digital assets and that it has also deployed technologies to better block and intercept hackers.

Despite the incident, BTC.com continues to provide mining pool services to consumers.

BTC.com, one of the largest cryptocurrency mining pools in the world, offers multicurrency mining services for numerous digital assets such as Bitcoin and Litecoin. BTC.com now offers a blockchain browser in addition to mining services. BIT Mining, its parent company, is a publicly-traded company on the New York Stock Exchange.

According to BTC.com data, the firm's mining pool is the seventh-largest in the world, accounting for 2.5% of total mining pool distribution for the last seven days and having a hash rate of 5.80 exahashes per second (EH/s). Its total contribution is greater than 5% of the total hash rate.

Crypto market rally after a long time consolidating in range. Today, Bitcoin jumps high with a strong volume and tears MA21 and MA50 and claims $20,000 mark. Bitcoin had taken resistance from $20,400. The global crypto market cap breaks the psychological $1 trillion level, the prices of top two coins – Bitcoin (BTC) and Ethereum (ETH) – turned Green.

The future digital currency of Hong Kong has been prototyped thanks to a partnership between the BIS Innovation Hub Hong Kong Centre, the Hong Kong Monetary Authority (HKMA), and the Hong Kong Applied Science and Technology Research Institute, according to the Bank for International Settlements (BIS).
Read more :- https://www.coingabbar.com/en/crypto-currency-news-english/project-aurum-digital-currency-prototype-hong-kong

The total value locked (TVL) in decentralised finance (defi) has been range-bound between $50 billion and $65 billion during the past 125 days, or nearly four months.
Read More :- https://www.coingabbar.com/en/crypto-currency-news-english/decentralized-finances-current-situation-still-poor

Crypto Market in Neutral.
Crypto market moved in tight range with low volume due to weekend. Yesterday, Bitcoin bounce from its support of $18,600 and shaped a hammer candle in day TF. Bitcoin will take resistance from MA21 at $19,400. The global crypto market cap continues down to the psychological $1 trillion level, the prices of top two coins – Bitcoin (BTC) and Ethereum (ETH) – turned Green.
Read More :- https://www.coingabbar.com/en/crypto-currency-news-english/crypto-market-hrs-update-news-oct-crypto-market-low-volume

With the anticipated interest rate increase from the US Fed, the cryptocurrency market's negative attitude increased, and the price trends of the majority of the main crypto coins were uncertain.
The XRP coin is no different, as evidenced by the fact that its price oscillates between two immovable barriers. Therefore, a break through either of the range levels will have an impact on Ripple's future trajectory (XRP)

The XRP price fell back to a 50% Fibonacci retracement level as a result of the current slump. A prolonged correction is encouraged by sellers when the 20- and 200-day EMAs cross in a negative fashion. The $4.5 billion intraday trading volume for XRP indicates a 123% increase.

Over the course of a month, the price of the XRP coin has been oscillating between the $0.55 and $0.45 barriers, signalling a range-bound rally. This phase of consolidation serves to support prices following the extraordinary spike in September.

The altcoin has also challenged both of the aforementioned obstacles twice, showing that traders are paying attention to them and may be able to influence the market price. With a negligible intraday drop of 0.04%, the price of XRP is currently trading at 0.4433.

The coin, however, experienced a spike in selling earlier today, which prompted traders to break through both the $0.45 support level and the 50% Fibonacci retracement level. The price, however, recovered the lost ground and exhibited a long-tail rejection candle as the market sentiment subsided.

Additionally, the prices may rise by 21.5% to once again target the $0.55 level because to the renewed bullish trend.

On the other hand, a collapse below the $0.45 support will lengthen the price decline if the market attitude deteriorates.
Read MOre : -https://www.coingabbar.com/en/crypto-currency-news-english/price-dip-opportunity-xrp-dollar-support

Japan's crypto authority further relaxes the country's crypto restrictions, making it easier to list virtual currency.
Read More :- https://www.coingabbar.com/en/crypto-currency-news-english/japan-relaxes-crypto-tokens-listing-regulationstop-cryptocurrency-news