Category Archives: Ethereum
Token2049: Crypto experts highlight Ethereum blockchain problems – crypto.news
At the Token2049 conference, blockchain experts debated the Ethereum chains current problems.
Experts from the blockchain industry discussed the latest innovations and development opportunities during a panel discussion at the Token2049 conference in Dubai.
The discussion participants also touched upon the Ethereum blockchain, which is considered the dominant smart contract platform. According to the panelists, Ethereum has scalability problems due to low transaction throughput, leading to high gas fees and network congestion. New blockchains are designed to become more scalable by increasing transaction speeds.
Experts recognized developers interest in developing Ethereum due to its first-mover advantage and brand recognition. However, some argue that many layer 1 alternatives can better serve different use cases than Ethereum in its current form.
Raj Gokal, co-founder of Solana, noted that developers and most Ethereum users also have Solana wallets. In addition, he said the growth of transaction volume on Solana exceeded Ethereum indicators.
Were doing well, but Ethereum is not.
Emin Gun Sirer, founder and CEO of Ava Labs, noted that the Avalanche blockchain was never positioned as an Ethereum killer. Despite these concerns, Ethereum has several advantages, including creating blockchains according to the developers rules.
We allow other people to launch their own blockchains according to their own rules. This is something that Ethereum is just fundamentally incapable of.
In conclusion, Monads Keone Hon noted that Ethereum ultimately needs much better performance to reach hundreds of millions of users.
Last November, Ethereum Co-Founder Vitalik Buterin announced his intention to redesign the network. Buterin outlined a general strategy that he will use to improve Ethereum (ETH) staking and solve performance problems arising about addresses. The last point has been a serious problem for the network in recent years.
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Token2049: Crypto experts highlight Ethereum blockchain problems - crypto.news
Ethereum Surges To Profitability On DeFi Boom, Eyes $1 Billion Annual Revenue – Blockchain Magazine
Ethereums blockchain network is experiencing a surge in profitability driven by a rise in Decentralized Finance (DeFi) activity. The network raked in $365 million in Q1 2024, putting it on track for a potential $1 billion in annual income. This marks a significant leap from its first profitable year in 2023, where it netted $623 million. The key factor behind this growth is a 155% year-on-year increase in transaction fees, fueled by the booming DeFi sector.
Ethereums blockchain network is experiencing a windfall, thanks to a surge in activity within the Decentralized Finance (DeFi) space. This newfound profitability has analysts predicting a potential $1 billion in annual revenue for the network by the end of 2024.
Soaring Transaction Fees Drive Growth
The first quarter of 2024 saw Ethereum rake in an impressive $365 million, putting it firmly on track to achieve this ambitious target. This marks a significant leap from its first profitable year in 2023, where the networks total earnings reached $623 million.
The driving force behind this remarkable growth is a staggering 155% year-on-year increase in transaction fees. This surge can be directly attributed to the DeFi sectors explosive popularity.
DeFi Boom Fuels Ethereums Engine
Decentralized Finance, or DeFi for short, refers to a financial system that operates without the need for traditional intermediaries like banks or financial institutions. DeFi applications leverage blockchain technology to provide a wide range of financial services, including lending, borrowing, trading, and asset management.
The DeFi space has witnessed phenomenal growth in recent times, attracting a vast pool of users and capital. This increased activity has led to a surge in traffic on the Ethereum network, as DeFi applications are predominantly built on top of it. As a result, transaction fees on the Ethereum network have skyrocketed, contributing significantly to its newfound profitability.
Also, read Whats New With Ethereum Layer 2 Past & Presesnt
With the DeFi sector showing no signs of slowing down, analysts are optimistic about Ethereums future earnings potential. If current trends hold, the network is well on its way to surpassing the $1 billion mark in annual revenue by the close of 2024. This achievement would solidify Ethereums position as a leading player in the ever-evolving blockchain landscape.
However, its important to remember that the cryptocurrency market is inherently volatile. Unforeseen circumstances could impact DeFis growth trajectory, potentially affecting Ethereums profitability. Nevertheless, the current outlook for Ethereum is undeniably positive, with DeFi acting as a major catalyst for its financial success.
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Ethereum Surges To Profitability On DeFi Boom, Eyes $1 Billion Annual Revenue - Blockchain Magazine
Bitcoin (BTC) Dominance Hits 52.86%, Ethereum (ETH) Tests $3,000 Support, and Furrever Token (FURR) Secures … – Yahoo Finance
Furrever Token
New York, NY, April 17, 2024 (GLOBE NEWSWIRE) -- In a turbulent weekend for the financial markets, cryptocurrencies felt the strain of geopolitical tensions, with Bitcoin(BTC), Ethereum(ETH), and Furrever Token(FURR) each navigating the upheaval in distinctive ways. Bitcoin showed resilience despite significant losses, Ethereum struggled to maintain key support levels amidst declining prices, and Furrever Token capitalized on the volatile market environment, boosting its presale figures significantly as investors looked for promising opportunities in the lead-up to the Bitcoin halving.
Despite a Dip Over the Weekend, Bitcoin's (BTC) Market Dominance Reaches a New High Since April 2021
This past weekend saw a downturn in asset values as traders adjusted their portfolios in response to conflicts in the Middle East. By late Saturday, it appeared that most assets had reached their lowest points.
Over the weekend, while the stock market was closed and unable to react to the escalation involving an Iranian drone targeting Israel, the cryptocurrency market was active and responsive.
The general trend saw a decrease in asset prices as traders reevaluated their positions and reduced exposure to higher-risk investments. Bitcoin, despite being the least affected among major cryptocurrencies, dropped from a high of over $70,000 on Friday to just above $63,000 by the end of Saturday, marking an 11.6% decrease.
Bitcoin's resilience was notable compared to other cryptocurrencies. Coinglass reported that long liquidations on centralized exchanges totaled over $757 million on Saturday, with Bitcoin accounting for $261 million of those liquidations.
Cryptocurrencies like Bitcoin are considered less risky compared to more speculative ones such as Dogecoin, which experienced nearly a 30% drop from its peak on Friday to its trough on Saturday.
There was a modest recovery across most assets after hitting what seemed to be a floor late on Saturday. Theoretically, Bitcoin could have seen a surge during this turmoil, as it is often considered a "safe haven," akin to gold. Recently, gold has seen significant gains due to the Middle East conflict, potentially benefiting Bitcoin, frequently dubbed "digital gold."
However, with the stock market closed, cryptocurrencies like Bitcoin had to absorb the full impact of the market's reaction. Despite these challenges, Bitcoin still emerged as a top performer.
Over the weekend, Bitcoin's market dominanceits market cap's proportion relative to the total cryptocurrency market caprose to 52.86% on Sunday, marking the highest point since April 2021.
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This increase in dominance comes after a low in February when Bitcoin's dominance fell to 43% due to a surge in altcoins, representing the smallest share since March 2023. This reversal underscores Bitcoin's renewed strength in the market, achieving its most substantial market share in three years.
Ethereum (ETH) Remains Above the $3,000 Support Level
Ethereum(ETH) has recently faced challenges as its price has seen a decline of 21% between April 9 and April 14, reaching a 50-day low. Despite recovering some losses, Ether continues to struggle, especially after failing to break through the $3,200 resistance on April 14. Currently trading at $3,066, Ether has experienced a daily decrease of 1.46%. This ongoing instability raises concerns about the sustainability of its $3,000 support level.
In the derivatives market, there is a notable shift in sentiment among professional traders, indicating a decrease in risk appetite. This sentiment is reflected in the ETH options market, where the delta skew metric has reached its highest bearish level in over two months, suggesting a growing demand for downside protection.
Amidst this market uncertainty, there is cautious optimism regarding the approval of a spot Ether ETF in May, although analysts remain mixed due to the conflicting signals from on-chain and derivatives data. Senior Bloomberg ETF analyst Eric Balchunas pointed out the low likelihood of ETF approval given the lack of critical feedback from the SEC during recent meetings.
Comparatively, Ether's downturn has been more pronounced than other major cryptocurrencies like Binance Coin (BNB) and Tron (TRX), but less so than that of Solana (SOL). It should be noted that Ethereum's network total value locked (TVL) has surged to its highest in 13 months on April 15, reaching 16.4 million ETH, which is a 14.8% increase month-over-month.
Despite these challenges, the anticipation of a decision on the spot Ether ETF in May could still provide a positive impact on Ether's price and on-chain activity. However, the increasing risk aversion among professional traders, as evidenced on April 16, suggests that the potential for further price corrections below $2,900 should not be overlooked.
Furrever Token (FURR)s Presale Raises Over $800,000 as Bitcoin Halving Approaches
Furrever Token(FURR) is distinguishing itself as a strong contender, demonstrated by an impressive presale that has already exceeded $800,000. As the crypto community braces for the Bitcoin halving, FURR is strategically positioned to capitalize on the increased interest and investment that typically accompany this event.
Offering a compelling entry at just $0.000564 per token, Furrever Token has attracted a wide array of investors, drawn by the potential for significant returns. This vibrant investment interest is bolstered by FURR's dynamic community, which includes over 4,100 active members on its Telegram channel, providing robust support and fostering lively discussions that enhance the tokens market presence.
As the market anticipates the Bitcoin halving, Furrever Token is not just riding the wave but actively preparing to leverage this period of heightened activity. The team behind FURR is pushing forward with strategic partnerships and innovative features aimed at boosting the token's adoption and enhancing its value. These efforts are designed to align FURRs trajectory with the broader market dynamics expected post-halving, ensuring that the token remains appealing to both new and existing investors.
With its strong presale performance, active community engagement, and strategic market initiatives, Furrever Token is poised for significant growth. As it continues to navigate the evolving cryptocurrency landscape, FURR stands out as a promising investment opportunity, ready to benefit from the upcoming market momentum and deliver substantial returns to its holders.
For further information or any assistance regarding Furrever Token, reach out only through the official channel atsupport(at)furrevertoken.com to avoid potential scams. Secure the Most Exclusive Presale Opportunity of 2024 Today!
Furrever Token Official Website|Visit Furrever Token Presale
Join Official Telegram Group | Follow Official X Account
Disclaimer: The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities.
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Furrever Token Foreseen to Deliver ROI Comparable to Bitcoin (BTC) and Ethereum (ETH)’s Success in 2024 – Yahoo Finance
Furrever Token
New York City, NY, April 17, 2024 (GLOBE NEWSWIRE) -- The markets have been bleeding out over the past couple of days, with bothBitcoin(BTC) andEthereum(ETH) experiencing a 2% dip in their prices. However, amidst this downturn,Furrever Token(FURR) has emerged as a bright spot, surpassing the significant milestone of $800,000 during its sixth presale stage. This contrast highlights the dynamic nature of the cryptocurrency landscape, where while some major players face temporary setbacks, newer projects like FURR demonstrate resilience and potential for growth.
Bitcoin Faces Geopolitical Headwinds Amidst Price Volatility: Dipped 3.4% Since Yesterday
Bitcoin's recent attempt at recovery was abruptly halted yesterday afternoon following renewed geopolitical risks, causing the digital asset to turn downwards once again. The largest cryptocurrency witnessed a 3.4% decline, retracing its gains from the previous day and closing around the $63,400 mark. Today, Bitcoin briefly dipped to the $61,000 range before bouncing back to the $63,000 zone with the opening of the European session. Amidst continued volatile movements in the Bitcoin market, significant liquidations persist in futures crypto trading, with $274 million worth of positions closed in the past 24 hours, 200 million of which were long positions, indicating investors' maintained optimism despite the downward trend.
Externally-driven news dominates the Bitcoin market, with a brief upward movement towards $66,000 seen after the Hong Kong news yesterday, but this positive development was short-lived. However, investors are keeping a close eye on the upcoming halving event scheduled for April 20th, anticipating its potential impact on Bitcoin's supply dynamics and market sentiment.
Ethereum Faces Crucial Support Levels Amid Market Turmoil
Amidst a widespread selloff in the cryptocurrency market, Ethereum (ETH) faces scrutiny as its price dips by 2% to approximately $3,059, according to coinmarketcap.com. With attention turning to critical support levels, renowned crypto analyst Ali Martinez highlights a pivotal zone between $2,000 and $2,430, where 9.37 million addresses collectively hold nearly 53 million ETH. Martinez's analysis underscores the significance of this range in determining Ethereum's price direction amidst market volatility.
Despite the downturn, optimism persists within the crypto community, buoyed by recent regulatory approvals such as Hong Kong's green light for Bitcoin and Ethereum ETFs. Moreover, the anticipation surrounding the upcoming Bitcoin Halving event adds intrigue, although concerns over short-term volatility linger. As investors navigate uncertain terrain, Martinez's insights offer valuable guidance, emphasizing the importance of monitoring market dynamics and expert analyses.
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Amidst the price dip, Ethereum's one-day trading volume remains near the flatline at $22.42 billion, with the ETH price down 7.48% over the last 24 hours and nearly 16% over the last seven days. The Ethereum Futures Open Interest has also declined by 6.01% to $10.91 billion, indicating ongoing market turbulence.
Furrever Token (FURR): Riding the Wave of Market Downturn with Resilience
Despite the broader market downturn, Furrever Token (FURR) stands out as a beacon of resilience, navigating the choppy waters of the crypto landscape with unwavering momentum. Surpassing the significant milestone of $800,000 during its sixth presale stage, FURR demonstrates a remarkable ability to thrive amidst market volatility. This success can be attributed to the project's unique value proposition, centered around infusing the crypto space with an irresistible dose of cuteness. By leveraging the universal appeal of adorable cat imagery, FURR offers users a one-of-a-kind experience that transcends traditional use cases, capturing hearts and garnering enthusiastic support from its growing community.
At the heart of FURR's appeal lies its commitment to creating a whimsical and heart-warming crypto ecosystem. From cute cat-themed stickers and emojis to captivating visuals, every aspect of the project is meticulously designed to evoke joy and foster a sense of camaraderie among users. This emphasis on community building extends beyond mere aesthetics, as FURR actively cultivates a warm and inclusive environment where members can connect, share experiences, and revel in the shared love for all things adorable.
Central to FURR's success is the active engagement of both its team and community members. With a shared vision and a passion for spreading happiness through crypto, the FURR community is united in its pursuit of creating a more enjoyable and fulfilling experience for all participants. Whether through lively discussions on social media channels or collaborative efforts to support the project's growth, every member plays a vital role in shaping the future of Furrever Token.
As of now, FURR is trading at a price of $0.00048 and holds the potential for up to 15X returns, offering investors an enticing opportunity to capitalize on its unique value proposition and strong community engagement.
Is Furrever Token (FURR) Legit?
Furrever Token (FURR) boasts legitimacy with an audited smart contract, a planned PancakeSwap launch, and no buy/sell tax. Team token lock-up and community-driven governance further enhance credibility. With nearly 4,000 Telegram members, support@furrevertoken.com is the sole trusted email address for communications, safeguarding against potential scams.
Secure the Most Exclusive Presale Opportunity of 2024 Today!
Furrever Token Official Website|Visit Furrever Token Presale
Join Official Telegram Group | Follow Official X Account
Media Contact: Robert Smith https://furrevertoken.com/ support@furrevertoken.com
Disclaimer:The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities.
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EY launches new blockchain solution to manage business contracts on Ethereum – Crypto Briefing
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EY has launched a new blockchain-based contract management tool, EY OpsChain Contract Manager (OCM), on the Ethereum public chain. The OCM is designed to help businesses execute complex agreements securely, efficiently, and at a lower cost, the company shared in a press release on Wednesday.
As noted, the OCM uses smart contracts on the Ethereum public blockchain to automate contract execution and enforce agreed-upon terms. It also uses zero-knowledge proofs (ZKPs) to keep confidential data private.
With the new solution, EY aims to eliminate the challenge of managing business agreements across numerous operational and technological divisions within and outside organizations. Traditionally, managing complex contracts across different parties and systems can be slow, expensive, and error-prone.
By utilizing EY OCM, companies can synchronize data with business partners and uniformly enforce key business terms, such as standardized pricing and volume discounts, the company noted. The solution is expected to create a secure and transparent environment for all parties involved.
According to the team, EYs solution can integrate with existing enterprise systems via a standardized API, supporting a wide range of business contract types.
In other words, enterprises of all sizes can use OCM to manage various types of business contracts. Early adopters are currently testing the system with complex Power Purchasing Agreements that incorporate market prices and strike prices.
Paul Brody, EY Global Blockchain Leader, highlights the efficiency of contract automation. He stated:
Weve identified from past client work that contract automation can improve accuracy while cutting cycle times by more than 90%, and overall contract administration costs by nearly 40%. With our zero-knowledge privacy technology, we have industrialized this capability, and we can now get these benefits at a fraction of the up-front cost. Deploying on a public blockchain is not only cheaper, but also much more scalable, helping enable many-to-many integrations on an open platform with no one company having an unfair advantage by controlling the network.
The latest move follows EYs debut of a beta version of Nightfall in September 2021 in collaboration with Polygon. Nightfall is a privacy protocol that employs an Optimistic Zero-Knowledge Roll-Up to facilitate private transactions on Ethereum.
Nightfall concentrates on enabling private transactions for enterprises on Ethereum, addressing concerns like network congestion and high transaction costs. Its primary use is safeguarding transaction privacy while benefiting from the public Ethereum blockchains security features.
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Crypto Briefing may augment articles with AI-generated content created by Crypto Briefings own proprietary AI platform. We use AI as a tool to deliver fast, valuable and actionable information without losing the insight - and oversight - of experienced crypto natives. All AI augmented content is carefully reviewed, including for factural accuracy, by our editors and writers, and always draws from multiple primary and secondary sources when available to create our stories and articles.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
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EY launches new blockchain solution to manage business contracts on Ethereum - Crypto Briefing
Hong Kong SFC approves Bitcoin and Ethereum spot ETFs – Crypto Briefing
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Several prominent asset management companies, including China Asset Management (Hong Kong), Bosera Capital, and HashKey Capital Limited, have announced that their applications for Bitcoin and Ethereum spot exchange-traded funds (ETFs) have been approved by the Hong Kong Securities and Futures Commission (SFC). This approval allows investors to directly use Bitcoin and Ethereum to subscribe for corresponding ETF shares.
China Asset Management (Hong Kong), an asset management company in the Hong Kong market and an overseas subsidiary of China Asset Management, has received approval from the SFC to provide virtual asset management services to investors. The company now plans to issue ETF products that can invest in spot Bitcoin and spot Ethereum.
To facilitate this endeavor, China Asset Management (Hong Kong) has partnered with OSL Digital Securities Co., Ltd., a leading player in the virtual asset industry, and BOC International Prudential Trusteeship Ltd., a prominent custodian. Together, they are actively researching and deploying strategies to offer these innovative investment products to their clients.
China Asset Management, established in Hong Kong in 2008, was among the first batch of Chinese asset management companies to expand overseas. Its parent company, China Asset Management, is one of the largest fund companies in China, with total assets under management exceeding US$266 billion as of December 31, 2023.
Over the past 16 years, China Asset Management (Hong Kong) has developed a strong local investment research team and offers a diversified range of products, including long-term stock and bond funds, hedge funds, ETFs, leveraged/inverse products, and separate accounts. The company is committed to providing investment advisory services to individual and institutional investors across Hong Kong, Greater China, Asia Pacific, Europe, and the United States.
In addition to China Asset Management (Hong Kong), Harvest Global Investments has also announced that the SFC has approved in principle their Bitcoin and Ethereum digital asset spot ETF products.
The approval of these spot ETFs by the Hong Kong Securities and Futures Commission marks a significant milestone in the integration of traditional finance and the rapidly growing digital asset space. It demonstrates the increasing acceptance and legitimization of cryptocurrencies as an investable asset class and is expected to attract more institutional and retail investors to the market.
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The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
Crypto Briefing may augment articles with AI-generated content created by Crypto Briefings own proprietary AI platform. We use AI as a tool to deliver fast, valuable and actionable information without losing the insight - and oversight - of experienced crypto natives. All AI augmented content is carefully reviewed, including for factural accuracy, by our editors and writers, and always draws from multiple primary and secondary sources when available to create our stories and articles.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
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Hong Kong SFC approves Bitcoin and Ethereum spot ETFs - Crypto Briefing
Bitcoin and Ethereum spot ETFs may hit Hong Kong markets as early as Monday: Bloomberg – Crypto Briefing
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Major Chinese asset managers are on the brink of launching spot Bitcoin and Ethereum exchange-traded funds (ETFs) in Hong Kong, possibly as early as Monday, Bloomberg reported on Friday, citing anonymous sources familiar with the matter. The timeline, however, remains tentative, sources noted.
Harvest Fund Management Co.s international division and a joint venture between Bosera Asset Management (International) Co. and HashKey Capital are the two potential ETF issuers, Bloombergs sources said.
As noted, the two entities plan to roll out their ETFs by the end of the month, pending approval from the Securities and Futures Commission (SFC) and finalizing listing arrangements with Hong Kong Exchanges & Clearing Ltd.
The report follows news earlier this week that prominent Chinese asset managers have applied for spot Bitcoin ETFs through their Hong Kong subsidiaries. According to Bloomberg, on April 9, SFC granted Harvest and China Asset Management clearance to provide virtual-asset-related fund management services.
The potential approval of Hong Kong-listed spot Bitcoin ETFs could unlock up to $25 billion in demand from mainland China as qualified Chinese investors may be allowed to access the funds through the Southbound Stock Connect program, said Matrixport in a Friday report.
A likely approval of Hong Kong-listed Bitcoin Spot ETFs could attract several billion dollars of capital as mainland investors take advantage of the Southbound Stock Connect program, which facilitates up to 500 billion RMB (HK$540 billion and $70 billion) per year in transactions, said Matrixport. Based on the (potential) available capacity, this might result in up to 200 billion Hong Kong dollars of available capacity for those HK Bitcoin ETFsor US$25 billion.
The Southbound Stock Connect program sets a yearly limit of HK$540 billion for Chinese investment in Hong Kong-listed stocks. However, 360MarketIQs data shows the quota hasnt been fully used in the past three years, leaving around HK$100-200 billion annually unused capacity.
Matrixport suggested that this unused quota could be directed towards the Bitcoin ETF if approved.
After the debut of US spot Bitcoin ETFs, global investors have seen Hong Kong as the next hub for crypto ETFs due to the countrys regulatory environment.
In late December last year, the SFC and the Hong Kong Monetary Authority (HKMA) issued new rules addressing the possibility of investment funds, brokerages, and asset managers offering crypto ETFs. The move was seen as preparation for upcoming crypto ETF products.
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The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
Crypto Briefing may augment articles with AI-generated content created by Crypto Briefings own proprietary AI platform. We use AI as a tool to deliver fast, valuable and actionable information without losing the insight - and oversight - of experienced crypto natives. All AI augmented content is carefully reviewed, including for factural accuracy, by our editors and writers, and always draws from multiple primary and secondary sources when available to create our stories and articles.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
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3 metrics hint that the Ethereum (ETH) price correction is not over – Cointelegraph
After rallying to $4,091 leading into the Dencun upgrade, Ether (ETH) has underperformed over the last month compared to Bitcoin and the broader crypto market, leading traders to doubt whether the altcoins downtrend is over.
To put this into context, Bitcoins (BTC) price fell by 18% during the same period, while the total cryptocurrency market capitalization dropped by 16%.
A number of market and technical indicators show that ETH may witness a deeper correction before embarking on a sustained recovery.
Ether is up 8% so far in March but has underperformed Bitcoin as well as other top layer 1 tokens. BTC price has rallied 21% over the last 30 days, while other top-cap layer 1 tokens, such as BNB Chains BNB and Solanas SOL, have rallied 44% and 76%, respectively, over the same timeframe.
The ETH/BTC ratio declined throughout March, reaching its lowest since January.
Currently, there are a handful of reasons for ETHs underperformance in March, including Bitcoin-specific factors in 2024. U.S. spot Bitcoin ETFs have largely been a success since their approval by the Securities and Exchange Commission on Jan. 11. In addition, the upcoming Bitcoin supply halving, which has historically preceded a parabolic uptrend in crypto prices, has added to BTCs tailwinds.
Moreover, there has been a decline in Ethereums network activity (in specific metrics) over the last week. Data from Glassnode shows that daily active addresses on Ethereum have dropped from 622,963 addresses on March 20 to 546,484 on March 26.
Although Ethereum remains the network to beat in the layer 1 sector, Solana has recently captured its market share in this segment in terms of on-chain activity and stablecoin transfer volume.
Related: Munchables hacker returns $62.8M Ether without ransom
Ethers latest attempt at recovery was rejected by supply congestion from the $3,600 level. This is an indication that this area presents a stubborn barrier in ETHs recovery path.
The significance of this resistance zone is reinforced by data from IntoTheBlock. Its In/Out of the Money Around Price (IOMAP) model reveals that this area is within the $3,534 and $3,639 price range, where roughly 1.17 million addresses previously bought approximately 4.97 million ETH.
If this resistance level sees a high volume of activity from the sellers in the short term, Ethers price is expected to sink deeper.
After reaching a 27-month high of $4,093 on March 12, ETH price pulled back as bears booked profits and the wider crypto market corrected. The price has since recovered to the current price of $3,511
Despite the recovery, a bear flag can be seen on the daily chart, which hints at the continuation of the downtrend.
Ether bulls are counting on support from the flags lower boundary at $3,497. A daily candlestick close below this level would signal a bearish breakout from the chart formation, projecting a decline to $3,060. Such a move would represent a 26% descent from the current price.
The relative strength indexs (RSI) position around 50 also indicated that the bears were selling on the latest rally to $3,600.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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3 metrics hint that the Ethereum (ETH) price correction is not over - Cointelegraph
Bitcoin (BTC) Clearly Beating Ethereum, but in Unexpected Way – TradingView
Bitcoin has been more up and down than Ethereum ETHUSD recently, but not just in price. It is actually moving up and down more. This means Bitcoin's volatility has been substantially higher than Ethereum's, which is not usual.
In the last 30 days, Bitcoin's volatility has gone up to 60%. This is more than Ethereum since February. It looks like Bitcoin is going through bigger price changes, and this might actually be good for it as risk demand stays high. It could mean more traders are paying attention to Bitcoin than Ethereum.ETHUSDT Chart by TradingView
When we look at how Bitcoin's price has been changing, we see that it has been close to the important price of $66,519. This is a price where Bitcoin has managed to not go lower before. If Bitcoin stays above this price, it might be getting ready to try to go higher toward $69,350. If Bitcoin goes higher than this, it could start going up a lot again.
Ethereum is different. It has been more steady and has not had as big price changes as Bitcoin. Ethereum's price that is important to watch is around $2,979.5. If Ethereum's price does not go lower than this, it might start to go up again, maybe even toward $3,502.6. But because Ethereum has not been as up and down as Bitcoin, it does not seem as risky or exciting to traders right now.
Bitcoin's high volatility could be a crucial signal for investors. But this also means Bitcoin could be riskier to buy because its price is less predictable and might cause some serious losses among investors.
Right now, it looks like Bitcoin is getting more attention than Ethereum because it offers way more risk exposure. Ethereum keeps on growing slowly and shows a dynamic somewhat similar to stocks.
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Bitcoin (BTC) Clearly Beating Ethereum, but in Unexpected Way - TradingView
Consensys Urges The SEC To Recognize Ethereum’s Advanced Safeguards – TradingView
Key points:
Consensys, a leading blockchain software technology company, has asked the U.S. Securities and Exchange Commission (SEC) to recognize the advanced safeguards inherent in Ethereums design. The company proposed this in response to the SECs request for comments on the potential approval of Ethereum ETF applications.
In line with the applications, the SEC asked whether Ethereums Proof of Stake (PoS) raises unique concerns of fraud and manipulation that the agency should consider. Responding to the question, Consensys noted such concerns are wholly without merit.
The blockchain company published a letter explaining how Ethereums PoS implementation meets and exceeds the security of Bitcoins Proof of Work (PoW). According to Consensys, Bitcoins PoW underlies Bitcoin-based ETFs that the SEC has already approved for trading.
In the comment letter, Consensys noted that the Ethereum PoS has strong built-in anti-fraud and anti-manipulation mechanisms. The company highlighted how this implementation surpasses Bitcoins PoW consensus model by being more resistant to tampering.
Some of Consensys highlights include Ethereums faster block finality and the blockchains distributed and randomized validation process that prevents pronounced stakeholder control. Consensys highlighted other Ethereum properties, like the total cost of attack, slashing penalties, and increased security alongside environmental benefits, as elements for Ethereums prevention mechanism against fraud and manipulation.
Furthermore, Consensys noted that the blockchains decentralized community and transparency enhance its security protection. The blockchain company emphasized the advanced safeguards inherent in Ethereums design. It cited that such safeguards will meet and exceed the exemplary security and resilience safeguards underlying Bitcoin-based ETPs already approved by the SEC.
Consensys publicized plans to onboard billions of users to web3. The blockchain firm is furthering this mission through public advocacy on the pending Ethereum ETF approval. Hence, the comment letter is a step towards driving progress and providing relevant information to the public.
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Consensys Urges The SEC To Recognize Ethereum's Advanced Safeguards - TradingView