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Ethereum News & Updates / Ethereum Getting Ready for $8,500 Price Level Up Next?

« on: November 09, 2021, 10:33:00 PM »

Optimists expect the cryptocurrency to reach $10,000.
The ETH price has been rapidly rising to new highs.
November has started well for numerous cryptocurrencies. The whole crypto market cap is nearing $3 trillion. Meanwhile, the second-largest crypto is catching the attention of crypto fans. Ethereum investors are ecstatic, while detractors are left out in the cold. The digital currency reached its ATH just before press time. The ETH price has been rapidly rising to new highs. Leaving fanatics amused by its gains. Sections expect the cryptocurrency to double in value shortly.
The leading altcoin is on a spectacular rise, reaching new milestones daily. Despite the network’s expensive gas rates at 91 gwei average and 93 gwei high, the current spike occurred. As a result, netizens anxiously await ETH 2.0’s resolution.
However, reliable sources claim that every day On-chain net exchange flow of Ethereum is up 23.1 M. A 6-month high has been reached in the quantity of ETH supply last active 1y-2y (1dMA). ETH futures short liquidations recently hit a 6-month high of $7,814,434.01 on Binance. The previous 6-month high occurred on September 1, 2021.
Moreover, the Ethereum hash rate reached at $1,014,230,266,415,220. Ethereum mining difficulty just increased to 11,028,173,704,939,400. Which is up from a week ago. At press time, the NFT space had burned about 799,386 ETH. source

Ethereum News & Updates / Ethereum Extends Rally, Why ETH Could Rally Further Above $5K

« on: November 09, 2021, 10:29:25 PM »

Ethereum extended rally and traded to a new all-time high above $4,800 against the US Dollar. ETH could continue to rise above $4,900 and $5,000 in the near term.
Ethereum gained pace above the $4,650 and $4,750 resistance levels.
The price is now trading above $4,750 and the 100 hourly simple moving average.
There is a key bullish trend line forming with support near $4,780 on the hourly chart of ETH/USD (data feed via Kraken).
The pair could extend its rally above the $4,850 resistance in the near term.
Ethereum Price Aims More Upsides
Ethereum started a fresh increase above the $4,550 and $4,600 resistance levels. ETH gained pace above the $4,650 resistance zone and the 100 hourly simple moving average.
The price even climbed above $4,750 and traded to a new all-time high. It traded as high as $4,822 and is currently consolidating gains. It is now trading well above the 23.6% Fib retracement level of the upward move from the $4,577 swing low to $4,822 high.
It is also trading well above $4,750 and the 100 hourly SMA. Besides, there is a key bullish trend line forming with support near $4,780 on the hourly chart of ETH/USD. Source

Ethereum News & Updates / Open Positions in Ether ‘Calls’ Hits 1 Million Mark as Traders Pile Onto Higher

« on: November 09, 2021, 10:27:28 PM »

Open interest in ETH call options, or bullish bets, is twice more than that in puts.Ether’s options market flows appear more bullish than ever, with the cryptocurrency eyeing the psychological level of $5,000.
Data tracked by Swiss-based analytics firm Laevitas shows there are currently 1.02 million call option contracts ($4.8 billion) open on the Deribit exchange – perhaps a record figure and twice more than the put option tally of 426,950 ($2 billion).The big gap reflects top-side bias. “[That’s] pretty bullish positioning,” Amber Group said in a Telegram chat. “skew is favoring topside as well.” Traders buy call options to bet on price increases and seek downside protection via puts when anticipating a correction. Source

Ethereum News & Updates / Ethereum Surges past $4,800 To New ATH, Crypto Analyst Says Brace For Further Up

« on: November 09, 2021, 10:24:12 PM »

Ethereum has once again broken another all-time high. The digital asset set the new record following along with bitcoin’s run that saw the latter set a record of its own above $68,000. Ethereum has been on a bullish roll lately and has not slowed down as momentum continues to stay up. This time, ETH had pushed past $4,800 to peak at $4,842.
As with any rally to a record high, the question now is where the asset ends up from here. The market is particularly bullish on Ethereum given its history of outperformance and various use cases that make it one of the most valuable blockchains in the space. Crypto analyst Benjamin Cowen has proven to share this bullish sentiment as he maps out what lies ahead for ETH in the coming months. source

Ethereum News & Updates / Ethereum Price Analysis: ETH reaches a new all-time high at $4,840, set for a re

« on: November 09, 2021, 10:22:00 PM »

Ethereum price analysis is bearish today.
ETH/USD peaked at $4,840.
Closest support at $4,650 previous support.
Ethereum price analysis is bearish today as bulls are likely exhausted after setting a strong higher high at $4,840 overnight. Therefore, we expect ETH/USD to retrace over the next 24 hours and retest the previous high at $4,650 as support.
Ethereum Price Analysis: <a class=ETH reaches a new all-time high at $4,840, set for a retracement? 1" title="Ethereum Price Analysis: ETH reaches a new all-time high at $4,840, set for a retracement? 2">
Cryptocurrency heat map. Source: Coin360
The overall market saw bullish momentum continue over the last 24 hours. Bitcoin gained 2.58 percent, while Ethereum 0.79 percent. Meanwhile, Litecoin (LTC) dominated the market, with a gain of 18 percent.
Ethereum price movement in the last 24 hours: Ethereum reaches $4,840 as bullish momentum slows down
ETH/USD traded in a range of $4,710.24 – $4,837.59, indicating moderate volatility over the last 24 hours. Trading volume has increased by 17.66 percent and totals $19.54 billion, while the total market cap trades around $564 billion, resulting in the market dominance of 19.35 percent. Source

Ethereum News & Updates / Here’s How Ethereum Could Confirm Altseason, According to Closely Followed Crypt

« on: November 09, 2021, 10:19:36 PM »

The Daily Hodl
Here’s How Ethereum Could Confirm Altseason, According to Closely Followed Crypto Analyst
Daily Hodl Staff November 9, 2021
A popular crypto analyst and trader says that Ethereum (ETH) could signal the start of a new altseason, but the second-largest crypto asset by market cap must set a new milestone first.
In a new strategy session, pseudonymous trader Credible tells his 35,100 YouTube subscribers that a fresh altseason could come to life once Ethereum takes out a massive resistance area against Bitcoin (ETH/BTC).
“So we’re looking for a monthly close above 0.077 BTC ($5,205) on the Ethereum/Bitcoin chart to be confident that we’ve broken through. Once we do that, Ethrereum will absolutely take off, and altcoins will follow right behind.
So we’re at a very key point where if Bitcoin decides to relax for a little bit and range, Ethereum can continue to pump to the upside, sending Ethereum/BTC above this area of resistance and confirming a breakout and confirming altseason essentially.”
Looking at the monthly chart of ETH/BTC, Credible highlights that the pair has been carving higher lows every time it gets rejected at the crucial resistance zone.
“Every monthly close that we’ve got right up against this resistance, unable to break through, but it’s only a matter of time before it breaks.”
Credible also says he’s bullish on Ethereum against the US dollar (ETH/USD), which he notes is a positive sign for altcoins. Source

Ethereum News & Updates / Ethereum 2.0 node count drops to a one-month low as ETH price climbs to new heig

« on: November 09, 2021, 10:17:27 PM »

The plunge points at a growing lack of interest among traders and investors to become "full validators" on its upcoming proof-of-stake blockchain.The number of Ethereum addresses holding 32 or more Ether (ETH) reached a one-month low on Nov. 9.
The number of externally owned Ethereum accounts (EOAs) holding at least 32 ETH fell to 108,949 compared to 108,965 on Oct. 22, according to data from Glassnode, a sign that traders and investors ignored the prospects of becoming validators on its upcoming proof-of-stake blockchain, dubbed Ethereum 2.0.In detail, staking in Ethereum 2.0 requires users to deposit 32 ETH into a designated smart contract address to become a full node validator. In doing so, the depositor gains the right to manage data, process transactions and add new blocks to the upgraded ETH blockchain. Source

Bitcoin News & Updates / Bitcoin dips below $67K as Tesla stock slump combines with Apple CEO denying cry

« on: November 09, 2021, 10:15:00 PM »

A close relationship with TSLA sees Bitcoin react to a 12% stock slump, while Apple adds to the sense of anticlimax despite recent BTC all-time highs.Bitcoin (BTC) fell $1,400 in half an hour during Nov. 9 after a snap sell-off hit Tesla (TSLA) stock.Tesla falls 12%, Bitcoin 2%
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD fall in line with TSLA shortly after the Wall St. open.
The pair hit $66,650 before bouncing to linger at around $67,000 at the time of writing, still up $1,000 on the day.

After hitting all-time highs of $1,245 on Nov. 5, Tesla saw turbulence after it emerged that CEO Elon Musk would sell 10% of his holdings, worth around $23 billion at the time.
Nov. 9 saw a significant acceleration of the negative mood as TSLA lost up to 12% in minutes before recovering. By contrast, BTC fell by around 2%. Source

Bitcoin News & Updates / Zimbabwe Government Denies Reports of Adopting Bitcoin as Legal Tender

« on: November 09, 2021, 10:11:46 PM »

Zimbabwe’s ministry of Information, Publicity and Broadcasting Services has confirmed that the country has no plans to adopt Bitcoin as an alternative cryptocurrency despite multiple media reports.
The nation is assured that Government is not considering introducing another currency in the economy as reported in the media. The local currency remains the Zimbabwe dollar (ZW$) and not cryptocurrency#postcabinetbriefing pic.twitter.com/w5eQhxeufM
— Ministry of Information, Publicity & Broadcasting (@InfoMinZW) November 9, 2021
The Zimbabwe dollar will remain the only currency in the hyperinflation-stricken country.
On Nov. 7, local news portal Bulawayo24 reported that the Zimbabwean government had had discussions with private sector players about making crypto legal tender.
The report was then picked up by some cryptocurrency news outlets and was shared by major crypto influencers.
El Salvador, a small tropical country in Central America, made history earlier this year by adopting Bitcoin as its official currency.
Other countries, however, are yet to follow suit. Last month, Mexican President Andres Manuel Lopez Obrador definitely ruled out adopting the flagship coin as an official currency. Source

Bitcoin News & Updates / Here’s When The Internet Breaks Down Due To Bitcoin, Anthony Pompliano Says

« on: November 09, 2021, 10:10:10 PM »

Anthony Pompliano says that the Internet could break down due to Bitcoin’s price in a specific case. Check out his post below.Someone said: ‘No. The internet breaks when comes is drained of silver and gold. Silver to $2000 gold to $50000,’ and a commenter posted this: ‘Wouldn’t it be magical if we could all just stop buying/selling at $69,420. All exchanges, just quiet at that exact price at the same time a moment of silence, where we all can just pause and take a breath, and reflect. and then all smash buy at the same time to resume trading.’
At the moment of writing this article, BTC is trading in the green, and the king coin is priced at $67,864. The king coin is racing like crazy these days. source

Bitcoin News & Updates / Bitcoin Rally Stalls; Could Find Support at $63K-$65K

« on: November 09, 2021, 10:05:05 PM »

Bitcoin (BTC) is giving up some gains after reaching an all-time high near $68,500 on Monday. The cryptocurrency is overbought on intraday charts, although support around the $63,000-$65,000 range could stabilize a pullback.
The relative strength index (RSI) on the four-hour chart is the most overbought since Oct. 20, which preceded a near-10% price decline. Still, pullbacks have been shallow over the past few weeks as buyers remain active on breakouts.
The 100-day moving average on the four-hour chart is sloping upward, indicating positive trend strength over the short term. This means buyers could eventually return on price dips into the Asian trading session. source

Bitcoin News & Updates / Bitcoin Sentiment Suggests Serious Greed, But Will A Correction Come?

« on: November 09, 2021, 10:00:17 PM »

As Bitcoin made a new all-time high above $68k, the crypto market sentiment changed to extreme greed. Periods of such sentiment have lead to corrections in the past, but will the trend be similar this time?
Bitcoin Fear And Greed Index Starts Pointing At Extreme Greed
As per the latest weekly report from Arcane Research, the fear and greed index is now pointing at extreme greed as BTC makes a new ATH.
The fear and greed index is a Bitcoin indicator that shows what the current crypto market sentiment is. The metric uses a numeric scale that ranges from zero to hundred to display the sentiment.
Values below fifty signal that the market is currently sharing fear, while values above it imply investors are becoming greedy.
If the indicator’s value goes above 75 or below 25, then it means the market is showing extreme greed or extreme fear, respectively.
Periods with extreme values suggest the market could witness a reversal soon. A correction may follow extreme greed values, and a change to uptrend may follow from an extremely fearful market. source

Bitcoin News & Updates / What Is The Final Push For Bitcoin? MicroStrategy CEO Michael Saylor’s Big Revea

« on: November 09, 2021, 09:54:41 PM »

There is no telling what exactly would be the thing that pushes bitcoin into the $2 trillion territory. For now, the asset is still one of the most valuable assets in the world with a total market cap of $1.15 trillion. Nonetheless, investors continue to look what will be the next big thing for BTC, something that will catalyze the growth of bitcoin, causing it to rally towards $100K.

One of these investors looking to the future is MicroStrategy’s CEO Michael Taylor. Saylor has always been a BTC maximalist and has seized every opportunity to evangelize the benefits of the assets. The CEO has taken both a professional and personal stance himself, holding BTC personally and through this company MicroStrategy. Continuing to be bullish on the digital asset, Saylor reveals what he believes will be the next big push for the asset. source

Polkadot Forum / Tezos vs Polkadot - Altcoin Projects

« on: July 03, 2021, 11:35:54 PM »

In this article, we will make a comparison of two projects: Tezos vs Polkadot. We will see what are the similarities and differences between them, and determine which holds the upper hand.
Projects overview
Tezos is a decentralized public blockchain for peer-to-peer (p2p) transactions and for deploying smart contracts. The founders of Tezos are Arthur Breitman and Kathleen Breitman. They published a “position paper” in 2014, where they described the idea of Tezos. Shortly after that they published the white paper. The company is based in Switzerland. The Tezos ICO is one of the biggest ICOs in 2017, where the Tezos Foundation raised $232 million.
Polkadot is a next-generation blockchain protocol that enables different blockchains to run independently within one network. The founder of Polkadot is Dr. Gavin Wood, who is also a co-founder of Ethereum. Like Tezos, Polkadot is also one of the biggest ICOs in 2017 with $150 million raised funds.Source

Cardano Forum / $30 Billion: Cardano ($ADA) Has Over 70% of Supply Staked Ahead of Major Upgrade

« on: July 03, 2021, 11:33:56 PM »

Cardano, the fifth-largest cryptocurrency network by market capitalization, now has over 70% of its circulating supply staked ahead of a major upgrade that will bring smart contracts to its network, allowing decentralized finance applications to be deployed on it.
According to data from PoolTool, first spotted by Cointelegraph, 71.66% of ADA’s circulating supply is now staked across 2,672 pools. A total of 672,217 addresses are staking their funds. Staking funds on Cardano allows users to earn passive income from their ADA without having to lock up their assets. Cardano is now by far the cryptocurrency network with the most valued being staked, as Ethereum is far behind with $11.78 billion. Next on the list come Solana with $10.79 billion and Polkadot just over $10 billion. Users on ADA get over 7% per year, while on Ethereum the rewards are of little over 6%, and on Solana 4%. On Polkadot, rewards go as high as 13.2%. The amount staked on Cardano has been rising ahead of the Alonzo upgrade, which will bring smart contracts to the network. These smart contracts will allow DeFi applications to be built on top of Cardano, allowing it to compete with Ethereum, Binance Smart Chain, Polkadot, and Solana.Source