eth price

(WETH) Wrapped Ether Explained. What Is It?

ETH Price (ETH To USD) To Decrease Even More Than Recently?

FXStreet News FXStreet News 19.01.2022 16:02
Ethereum price is still under pressure from the red descending trend line. ETH price is set to break $3,018, bringing the price below $3,000. Expect a further continuation to go hand-in-hand with current financial market sentiment. Ethereum (ETH) price is cracking under the strain and targeting $3,000, with the last line of defense at $3,018 under tremendous pressure from bears. The overall downtrend, dictated by the red descending trend line, and current global market headwinds are only contributing further to downside momentum. Expect a break towards $2,695 before analysts start to speak about a break below $2,000. Ethereum price needs to defend $2,695 to avert a 45% decline Ethereum price is flashing red warning lights all over the place as bears prepare to bomb the $3,000 barrier and price action starts to drill down on the last line of defense at $3,018. Although the area is a historical level and the monthly S1 support level falls in line with this area, it is set to probably break anyway as the mix of the established downtrend and global market headwinds is likely to be too much to bear. The Relative Strength Index (RSI) is close to being oversold; it could still firmly push beyond this level as it already traded around the area back on January 08. The next level of interest for bulls, which they are likely to defend tooth-and-claw, is $2,695, which provided support around September 21 and acted as entry-level for a 75% rally. With the RSI firmly in the oversold area, this should see some pickup in demand on the buy-side. If demand is not there and bulls are reluctant to engage with large demand sizes, expect a break that would see a rapid flood of selling pressure, with the target set to $2,000 as not many elements are in between to provide solid support. ETH/USD daily chart Bulls could sweat out the current market correction and easily make a U-turn once global markets start to return green numbers. A shift in sentiment would easily see Ethereum price bounce off $3,018 and touchback at $3,391. In case ETH should close above that level, it would be set to break out of the red descending trendline, reversing the downtrend, with even more investors and bulls then joining the rally, back up towards $4,000.00.
Bitcoin Price (BTC/USD) Lost $13K Reaching $42K Less Than In November 2021. Ether (ETH) Lost 52% Among April And May's Beginning. Is this not the end of the cryptocurrency bear market? | Geco.one

Bitcoin Price (BTC/USD) Lost $13K Reaching $42K Less Than In November 2021. Ether (ETH) Lost 52% Among April And May's Beginning. Is this not the end of the cryptocurrency bear market? | Geco.one

Geco One Geco One 16.05.2022 15:12
Between 5 and 12 May 2022, Bitcoin fell by over $13,000, i.e. over 33%. It increased Bitcoin depreciation which started on 28 March, to over $21,000, i.e. 44%. In turn, counting from the peaks of November 2021, BTC decreased by over $42,000, i.e. 61%. Such a significant sale caused the exchange of the oldest virtual currency to drop from $69,000 to below $27,000, which was the lowest level since December 2020. It is noteworthy that this trend did not stop around the critical level of support of $29,000, where various types of demand reactions have occurred many times in the past. However, considering that the demand reaction that appeared last weekend was much more modest than the previous ones around this support, it seems highly probable that it will be only a temporary correction, after which the BTC rate will return to losing value. Read next: Altcoins: What Is Polkadot (DOT)? Cross-Chain Transfers Of Any Type Of Asset Or Data. A Deeper Look Into Polkadot Protocol | FXMAG.COM If this sell-off leads to a sustained drop below $24,000, we will have to prepare for a further depreciation towards $24,000 or even below $20,000. The current situation on the Ethereum quotes is also identical. The price of this cryptocurrency fell between 3 April and 12 May this year by 52%, dropping to the Tech Support area of $1,750, the lowest level since July 2021. The demand reaction that appeared last weekend was much more modest than the rebound observed in this region in May, June and July 2021. We assume that it will be only a correction, after which ETH will return to around $1,750. A permanent drop below this price level could open the door for further declines to $1,400 — around this price is another significant support around which we could expect a greater demand response. Solana (SOL) Loses Ca. 77% Looking at the Solana quotes, we notice that the price of this cryptocurrency fell between 2 April and 12 May this year by almost 77%, dropping to the area of technical support of $37, which was the lowest level since August 2021. Read next: Stablecoins In Times Of Crypto Crash. What is Terra (UST)? A Deep Look Into Terra Altcoin. Terra - Leading Decentralised And Open-Source Public Blockchain Protocol | FXMAG.COM In the second half of last week, the demand reaction appeared. Although it could signal a potential rebound towards the previously defeated support (now resistance) of $78, taking into account the general pessimism currently observed in the broad cryptocurrency market, it seems that the increases can end much earlier. The SOL rate could return to around $37 or even fall below this support if this happens. It would indicate a potential for further depreciation towards $23. The current situation on the Cardano quotes is also very interesting. The price fell between 4 April and 12 May this year by 69%, dropping to the area of technical support of $0.40, which was the lowest level since the beginning of February 2021. It is where the demand response appeared, and if the several-day increases continued, the ADA rate could even return to the area of previously defeated support (now resistance) of $0.75. However, there are many indications that this rebound will ultimately turn out to be only a correction, after which Cardano’s quotations will return to the area of $0.40, or they will drop even lower. Start your trading adventure with Geco.one
Crypto Market Crash: Can (BTC/USD) Bitcoin Price Reach Less Than $10K!? Dogecoin (DOGE) Hasn't Fluctuated Much! ETH Has Decreased By 1.2% | FxPro

Crypto Market Crash: Can (BTC/USD) Bitcoin Price Reach Less Than $10K!? Dogecoin (DOGE) Hasn't Fluctuated Much! ETH Has Decreased By 1.2% | FxPro

Alex Kuptsikevich Alex Kuptsikevich 18.05.2022 08:37
Bitcoin has been hovering around the 30K mark for a second day, forcing the rest of the crypto market to balance declines and gains. Ethereum has lost 1.2% in 24 hours but remains near 2,000. Altcoins from the top ten are mostly declining, losing between 0.7% (DogeCoin) and 3.8% (Polkadot). Tron is gaining 1.7% but has been little changed since the end of last week. Total crypto market capitalisation, according to CoinMarketCap, declined 1.1% overnight to $1.29 trillion. Bitcoin’s dominance index remained unchanged at 44.3%. Bitcoin has stalled at the psychologically significant 30K level The Cryptocurrency Fear and Greed Index was up 4 points to 12 by Wednesday and remains in “extreme fear”. The index’s recovery from lows since 2019 is due to a waning selloff but not a market reversal to growth. Bitcoin has stalled at the psychologically significant 30K level and has also lost the momentum of the rebound at the 76.4% Fibonacci line from the downward move from late March to last Thursday’s lows. This is a typical shallow counter-trend correction. The inability of the market to develop the offensive from the current levels would raise the question that the final target for the downtrend would be the 161.8% area of that move, which is near $11.3K. Such a setback would cancel out all upside momentum from October 2020. So far, this scenario looks exceptionally pessimistic and needs to converge the disappointment of crypto-neophytes on top of an actual collapse of the global economy and stock market. Such a dip would leave Bitcoin’s price at only 16% of its peak, which has happened several times in its history. Read next: Altcoins: What Is Monero? Explaining XMR. Untraceable Cryptocurrency!? | FXMAG.COM However, a significant drop below previous cyclical highs ($20K) would be unusual, although Bitcoin was previously repurchased on similar drawdowns. Perhaps a more cautious scenario would be a dip into the $20-23K area to close the gap at the end of 2020 or a return to the 2017 highs. The realist-optimistic scenario points to the possibility of cautious buying by long-term investors from current levels. Following TerraUSD, another stable coin - DEI - lost its peg to the US dollar However, it does not suggest a new wave of explosive growth, as financial conditions and a return to the area at the start of 2021 are disappointing for those investors who have been buying cryptocurrencies as a way to make a quick buck. Moreover, inflation has weaned 10% off the dollar’s purchasing power over this period. Among the news that caught our eye were: According to CoinShares, institutional investors invested $274 million in crypto funds last week, a record since the start of the year. Following TerraUSD, another stable coin - DEI - lost its peg to the US dollar. According to the Congressional Research Service (CRS), the stable coin market needs strict regulation. Because of the speculative nature of cryptocurrencies, investors need more protection, or they could lose confidence in the markets, SEC chief Gary Gensler said. Read next: (TRX) TRON USD Decentralised Blockchain Platform That Focuses On Entertainment And Content Sharing. Altcoins: A Deep Look Into The TRON Network | FXMAG.COM The Portuguese authorities are considering introducing a tax on income earned from investments in digital assets. Dogecoin co-founder Billy Marcus called 95% of crypto-assets “trash” and suggested that 70% of investors don’t even understand the fundamentals of the crypto market.
Bitcoin (BTC) is now better than the stock market but still in decline. Ether (ETH) Has Decreased By Over 4%, So Does Cardano (ADA) | FxPro

Bitcoin (BTC) is now better than the stock market but still in decline. Ether (ETH) Has Decreased By Over 4%, So Does Cardano (ADA) | FxPro

Alex Kuptsikevich Alex Kuptsikevich 19.05.2022 15:26
On Wednesday, Bitcoin was down 3%, ending the day around $29,200, remaining near that mark on Thursday morning. Ethereum lost 4.3%. Other altcoins in the top 10 fell from 1.8% (BNB) to 9.8% (Cardano). The Cryptocurrency Fear and Greed Index was up 1 point to 13 by Thursday and remains in ‘extreme fear’ territory The total capitalisation of the crypto market, according to CoinMarketCap, fell 3.6% overnight to $1.24 trillion. The Bitcoin Dominance Index rose 0.4% to 44.7%. The Cryptocurrency Fear and Greed Index was up 1 point to 13 by Thursday and remains in ‘extreme fear’ territory. Bitcoin resumed its decline on Wednesday amid a sharp weakening of US stock indices, which fell even more than BTC. The Nasdaq and S&P 500 lost more than 4% on Wednesday. The impressive oversold strength accumulated by the crypto market after it collapsed 40% from late March levels (versus 16% for the S&P500) temporarily limits the declining scale. Read next: Altcoins: What Is Monero? Explaining XMR. Untraceable Cryptocurrency!? | FXMAG.COM Nevertheless, the overall negative market sentiment has prevented the bulls from turning out in full force. So far, it isn’t easy to see reliable signs of oversold or rebound formation. We should be prepared for the cryptocurrency market to test support at last week’s lows again in the near term. We consider the area near 20K the final target for a potential selloff, which corresponds to Bitcoin’s long-term support line. Billionaire Bill Ackman said one of the main reasons for Terra’s collapse was a pyramid scheme of business Among the news that caught our eye were: Former US Federal Reserve chief Ben Bernanke called Bitcoin a harmful currency. He lashed out at cryptocurrencies, calling them “a great tool for extortionists”. Binance lost $1.6 billion due to the collapse of Terra tokens on the exchange’s balance sheet. Billionaire Bill Ackman said one of the main reasons for Terra’s collapse was a pyramid scheme of business. Investors were promised a 20% yield backed by a token whose value was determined by demand from new investors. Microsoft has warned crypto investors of an increase in the activity of a new type of malware called Cryware South Korea’s Financial Services Commission, amid tensions in the Stablecoin market, is proposing to register cryptocurrencies based on their level of risk to investors. Microsoft has warned crypto investors of an increase in the activity of a new type of malware called Cryware, which allows the theft of assets from hot cryptocurrency wallets. Birgit Rodolph, executive director of the German BaFin, called for universal regulation of the DeFi industry across the EU. Follow FXMAG.COM on Google News
Crypto News: Bitcoin Price (BTC/USD) is range-bound. Will we see a break today? | 8cap

Crypto News: Bitcoin Price (BTC/USD) is range-bound. Will we see a break today? | 8cap

8 eightcap 8 eightcap 20.05.2022 04:05
Hi traders, today we’re seeing a similar pattern across several coins. After yesterday’s failed lower break attempt, ranges have developed. We’re seeing this pattern on a few, BTC, BNB, ETH, SOL, ADA, and XRP. We’ve zeroed in on Bitcoin as on the 4-hour chart. The range is quite symmetrical. We saw 29K come in yesterday as a demand point, and for now, price continues to hold above. The range can be broken down into inside action and overall action. On the side, we are looking at two possible directions. One, we see price maintain the pattern and move back to the bottom of the range. Two buyers regain momentum as we see a test or break of the range roof. If number two occurs, that will line up with the overall action idea of a new breakout due to steady demand seen yesterday rejecting seller attempts to break lower. We can also see a trend break on the four-hour chart and a fast trend break on the daily. If sellers can not only move back to the range base but break through it, we would look at the 27,600 area to possible offer buyer resistance If buyers clear the range, we could see resistance develop from 32,200. On the other side, if sellers can not only move back to the range base but break through it, we would look at the 27,600 area to possible offer buyer resistance. Read next: Altcoins: What Is Litecoin (LTC)? A Deeper Look Into The Litecoin Platform| FXMAG.COM It will be interesting to see which side wins this battle. Hoping all of our readers have a wonderful weekend. Bitcoin 4H Chart The post Crypto News: Bitcoin is range-bound. Will we see a break today? appeared first on Eightcap.
Regulating The Cryptocurrency Market, Powell Calls For Stablecoin Regulation

Bitcoin Price (BTC/USD) Entrenched At $30K, Ether (ETH), Solana (SOL), Ripple (XRP) Have Gained! | FxPro

Alex Kuptsikevich Alex Kuptsikevich 20.05.2022 11:17
Bitcoin fluctuates around $30K and has crossed that line daily in one way or another over the past 12 days. A 3.5% increase in the day’s results on Thursday turned into another pullback on Friday morning. Ethereum has strengthened by 3.5% in the past 24 hours, finding itself pegged at $2000. By Friday, the cryptocurrency fear and greed index is unchanged at 13 points (“extreme fear”) Other altcoins in the top 10 gained between 0.4% (Solana) and 5.5% (XRP). Total cryptocurrency market capitalisation, according to CoinGecko, rose 3.1% overnight to $1.28 trillion. The Bitcoin Dominance Index rose 0.1% to 44.8%. By Friday, the cryptocurrency fear and greed index is unchanged at 13 points (“extreme fear”). Read next: Altcoins: What Is Litecoin (LTC)? A Deeper Look Into The Litecoin Platform| FXMAG.COM MicroStrategy CEO Michael Saylor said his company would buy bitcoin at any price until it reached a million dollars Bitcoin and the entire cryptocurrency market’s protracted tug-of-war promises to resolve with a strong move in one direction. However, there is hope for both bulls and bears. The latter has a minor advantage, as we saw this area touch down from above in January and June-July 2021. But now, all the fighting is concentrated below. Among the crypto news that caught our eye: MicroStrategy CEO Michael Saylor said his company would buy bitcoin at any price until it reached a million dollars. Bitcoin’s drop below $30,000 last week came after a large volume of the cryptocurrency entered exchanges. According to IntoTheBlock, traders have sent around 40,000 BTC to exchanges since May 11. According to an audit report by accounting firm MHA Cayman, USDT stable coin issuer Tether Holdings Limited reduced its reserves in the commercial papers by 17%, improving the quality of its funds. Read next: Altcoins: What Is PancakeSwap (CAKE)? A Deeper Look Into The PancakeSwap Platform| FXMAG.COM The Ethereum development team said it would migrate the Ropsten test network to the Proof-of-Stake (PoS) consensus algorithm on June 8 2022. According to the legislation, SEC chief Gary Gensler has warned that the regulator is ready to take new measures against unregistered cryptocurrency companies. The US Commodity Futures Trading Commission (CFTC) believes that amid a rise in cryptocurrency crime, the watchdog must strengthen regulation of digital assets to crack down on fraud and manipulation. Follow FXMAG.COM on Google News
Bitcoin Price (BTC/USD) Is In Tight Consolidation! Which Direction Will It Strike? | Geco.one

Bitcoin Price (BTC/USD) Is In Tight Consolidation! Which Direction Will It Strike? | Geco.one

Geco One Geco One 23.05.2022 14:45
Bitcoin fell between 5-12 May 2022 by over $13,000, i.e. over 33%. It increased the range of the ongoing from 28 March 2022 depreciation to over $21,000, i.e. 44%. In turn, counting from the peaks of November 2021, BTC decreased by over $42,000, i.e. 61%. Bitcoin Price (BTC/USD) Such a significant sale caused the exchange of the oldest virtual currencies to drop from $69,000 to below $27,000, which was the lowest level since December 2020. It is noteworthy that this trend did not stop around the critical level of support of $29,000, where various types of demand reactions have occurred many times in the past. It was no different now. This time, however, the rebound turned out to be extremely modest, and as a result, Bitcoin found itself in a horizontal trend. Considering that the consolidations are corrective formations, statistically, more often, the market will push out of this type of system in the direction consistent with the earlier move. This particular case increases the risk of a potential bottom breakout, which could signal a potential for further declines to the $24,000 region or even below $20,000. This scenario may also be supported by the fact that the upper limit of this system coincides with the measurement of 38.2% Fibonacci correction from an earlier downward impulse. Ethereum Price (ETH/USD)  The current situation on the Ethereum quotes is also identical. The price of this cryptocurrency fell between 3 April and 12 May this year by 52%, dropping to the Tech Support area of $1,750, the lowest level since July 2021. However, taking into account that the demand response that appeared around this support was much more modest than the rebound observed in this area already in May, June and July 2021, one can assume that in the end, it will turn out to be only a correction, after which the ETH rate will return to around $1,750. Read next: Altcoins: What Is Litecoin (LTC)? A Deeper Look Into The Litecoin Platform| FXMAG.COM A permanent drop below this price level could open the door for further declines to $1,400. There is another significant support around which we could expect a greater demand response. It is worth mentioning here, however, that although the consolidations are corrective formations, there is no rule determining when the market should break out of the system. This fact means that, although the statistics favour further declines before they happen, the ETH exchange rate may remain in the range of $1,900 to $2,150 for some time. (XRP) Ripple Price Looking at the XRP quotes, we can see that the price of this cryptocurrency fell between 28 March and 12 May this year by over 63%. This sell-off led to the breach of several important support zones and did not stop until around $0.36, where on 12 May this year, there was a demand response. Read next: Altcoins: Ripple Crypto - What Is Ripple (XRP)? Price Of XRP | FXMAG.COM However, the subsequent rebound did not last too long. As a result, the XRP price has remained in the horizontal trend for several years. It assumes a return to the vicinity of $0.36 seems more likely. If, however, this support was permanently defeated, then the quotations of this cryptocurrency could even move towards $0.20. Binance Coin (BNB) The current situation on Binance Coin's quotes is also very interesting. The price of this cryptocurrency fell between 7 November 2021 and 12 May 2022 by over 67%. This sale only stopped around $260 technical support - on Thursday, 12 May this year, there was a demand response. Due to the rebound that has continued since then, the BNB price has risen by more than 51%, thus returning to the area of ​​previously defeated support (now resistance) of $330. If a larger supply relationship is around this level, signalling its potential rejection, the BNB price could return to around $260 or even drop further to the $200 region. It’s finally time to get down to business. Start serious trading with Geco.one - top 20 cryptocurrencies, 1:100 leverage, staking, low fees, intuitive design, no KYC. Trading on derivatives has never been easier. Join us https://app.geco.one Follow FXMAG.COM on Google News
Inflation Also Affects Bitcoin, The Cryptocurrency Situation Is Getting Worse

Declining Bitcoin Price (BTC/USD)!? Ether Price (ETH/USD) Has Increased, AVAX Gone Down. Be ready for (BTC) Bitcoin to end consolidation with a drop | FxPro

Alex Kuptsikevich Alex Kuptsikevich 25.05.2022 09:00
Bitcoin’s fluctuations continue to shrink, meaning the spring is being compressed further. The lower bound of the trading range has moved to $29K, from where the BTCUSD has received support since the start of active trading in New York. The upper bound of the formed triangle has moved to $30.5K against current prices at $30.0K, reflecting a 1.8% gain over the past 24 hours. Ethereum has added 0.3% in the past 24 hours, with other altcoins in the top 10 from a 2.9% decline (Avalanche) to a 1.0% rise (BNB), but all faring worse than the crypto flagship. Total coin capitalisation, according to CoinMarketCap, rose 1.1% to $1.28 trillion, with the Bitcoin Dominance Index up 0.4% to 44.7%. The Cryptocurrency Fear and Greed Index was down 1 point to 11 by Wednesday and remains in “extreme fear”. The bitcoin price is in consolidation mode, equally dangerous for both bulls and bears. Both gain liquidity over time and get used to the current prices. Read next: Altcoins: What Is Monero? Explaining XMR. Untraceable Cryptocurrency!? | FXMAG.COM On the market cycle side, the chances are higher than the current consolidation will culminate in a breakdown of the lower boundary and liquidation of stop orders, reinforcing the initial downside momentum. Behind the pessimistic outlook is a tightening of monetary policy with slowing economic growth, which puts retail investors in the mode of withdrawing capital from cryptocurrency in favour of consumption. It does not help that the expectations of getting rich fast through cryptocurrencies are not paying off, as bitcoin is worth as much now as it was in early 2021. The ECB warned that the high correlation between cryptocurrency and stock markets... Investing in the industry is becoming more professional, moving beyond naïve attempts to buy and hold. According to CoinShares, investors are withdrawing money from bitcoin and investing in blockchains that support smart contracts, such as Cardano and Polkadot. Net capital outflows from crypto funds last week amounted to $141m. The ECB warned that the high correlation between cryptocurrency and stock markets is usually seen in times of dire economic conditions and will no longer allow the diversification of investment portfolios with digital assets. Follow FXMAG.COM on Google News
Crypto: Extreme Fear!? Bitcoin Price (BTC/USD) Is Stable, But Ether’s (ETH) Performance Reflects The Pressure. What About Ripple And Stellar? | FxPro

Crypto: Extreme Fear!? Bitcoin Price (BTC/USD) Is Stable, But Ether’s (ETH) Performance Reflects The Pressure. What About Ripple And Stellar? | FxPro

Alex Kuptsikevich Alex Kuptsikevich 26.05.2022 09:34
Bitcoin ignored the positive dynamics of US stock indices on Wednesday, further reducing the amplitude of its fluctuations. The first cryptocurrency has been moving in a $29.5-30.0K range since the start of active trading in New York. We caution that this reduction in volatility risks turning into an explosion in the near term, potentially setting off momentum for a few days or weeks. BTC Price A formal break of consolidation would be considered a consolidation beyond the previous local extremes, which are located at $30.2K and $29.3K. Going beyond those limits in a sharp move promises to trigger a wave of liquidation of positions that the bulls and bears have brought closer to the current price due to low volatility and bored speculators in recent days. Outside of Bitcoin, the situation is more worrying. The total capitalisation of the crypto market, according to CoinMarketCap, has fallen 1.6% in the last 24 hours to $1.25 trillion. Bitcoin’s dominance index is 0.4 points to 45.1%. Ether Price (ETH/USD) Ethereum lost 3%, dropping to 1915, the lower end of a steady trading range for the past two weeks. The daily candlestick chart clearly shows a sequence of increasingly lower local highs. This dynamic is a sure sign of a sustained sell-off in crypto, temporarily covered by Bitcoin’s stability. Read next: Altcoins: What Is Polkadot (DOT)? Cross-Chain Transfers Of Any Type Of Asset Or Data. A Deeper Look Into Polkadot Protocol | FXMAG.COM Bitcoin’s stability against such an external backdrop may be nothing more than a temporary consolidation of capital in the most liquid cryptocurrency and is supported by improved sentiment in stocks. Crypto Fear And Greed Index The cryptocurrency Fear and Greed Index was up 1 point to 12 by Thursday and remains in “extreme fear”. Ripple lawyer Stuart Alderoty criticised the stance of US Securities and Exchange Commission Chairman Gary Gensler and the SEC’s desire to seize administrative control of the cryptocurrency market. Stellar will provide its technology to the Central Bank of Brazil to develop the digital currency. Follow FXMAG.COM on Google News
Bitcoin Price Reaching $20K Is Still Possible, Even If The Crypto Market Crash Is Believed To Be Over | Geco.one

Bitcoin Price Reaching $20K Is Still Possible, Even If The Crypto Market Crash Is Believed To Be Over | Geco.one

Geco One Geco One 30.05.2022 14:22
After a fall of more than $13,000 that we saw between 5 and 12 May, Bitcoin stopped in the area of ​​$28,500 technical support. There have been many different kinds of demand reactions in this area. It was no different now. Bitcoin Price (BTC/USD) This time, however, this rebound turned out to be highly modest; as a result, Bitcoin has been moving in a horizontal trend for three weeks. The rebound from the lower bound of this formation observed last weekend may drive an increase towards its upper limit, i.e. resistance of $31,500. However, it seems highly probable that the increases observed since Saturday will not lead to a permanent change in the market attitude and the return of BTC to the path of long-term gains. For this to happen, the quotations of the oldest virtual currencies would have to break above $31,500. Read next: Altcoins: What Is Polkadot (DOT)? Cross-Chain Transfers Of Any Type Of Asset Or Data. A Deeper Look Into Polkadot Protocol | FXMAG.COM Price Of Bitcoin Reaching $20K!? Considering that consolidations are corrective formations and, statistically, more often, the market breaks out of these systems in the direction consistent with the previous move, there is a high probability that there will be a more significant supply response in the area of this resistance. It could signal a potential for further declines in the region of $28,500, even further toward $24,000, or even below $20,000. This scenario supports the fact that the upper limit of this system coincides with the measurement of 38.2% Fibonacci retracements from an earlier downward impulse. This prediction can change if Bitcoin breaks above the technical resistance of $31,500. Then we could expect a continuation of increases towards $34,500, or further to $37,000. Ether Price (ETH/USD) Looking at the Ethereum quotes, we notice that, in line with our last week's projection, the cryptocurrency's rate in the second half of last week broke below the technical support of $1,900 and slipped as much as $1,730. Read next: Altcoins: Tether (USDT), What Is It? - A Deeper Look Into The Tether Blockchain| FXMAG.COM It is where the demand reaction reappeared last weekend. As the new week starts, it has led to a re-test of a previously defeated support (now resistance) of $1,900. The immediate future of ETH will now depend on what happens around the level currently being tested. Its permanent defeat, i.e. a break above $1,900, could open the way to further increases towards $2,150 or further towards $2,350. However, the emergence of a more significant supply response at this point, signalling a potential rejection of the resistance currently tested, could, in turn, indicate a potential for a further decline to $1730 or even further toward $1400. Polygon (MATIC) Looking at the MATIC quotations, we can see its price has been in the horizontal trend for almost three weeks between the technical support of $0.57 and the resistance of the $0.75. If the increases observed since last Saturday will continue, the MATIC quotations could return to $0.75. However, considering that this resistance coincides with the measurement of 38.2% Fibonacci retracements, it seems highly probable that more supply pressure will reappear in its vicinity. Read next: Stablecoins In Times Of Crypto Crash. What is Terra (UST)? A Deep Look Into Terra Altcoin. Terra - Leading Decentralised And Open-Source Public Blockchain Protocol | FXMAG.COM It is also worth remembering that consolidations are corrective patterns, which in this particular case increases the probability that the market will try to break out of this pattern with the bottom and further decline even towards $0.45. It’s finally time to get down to business. Start serious trading with Geco.one - top 20 cryptocurrencies, 1:100 leverage, staking, low fees, intuitive design, no KYC. Trading on derivatives has never been easier. Join us https://app.geco.one
The ETH/USD Pair Tried To Rebound After The Decline And Wallet Selector In Opera Crypto

Ethereum (ETH) Merge Is Coming! What Does It Mean?

Saxo Bank Saxo Bank 07.06.2022 18:45
Summary:  In August, Ethereum’s transition from proof-of-work to proof-of-stake known as the merge is expected to take place, and the first public test of the merge is set to occur tomorrow. The merge might be one of the most influential events in the history of crypto by impacting Ethereum both technically and economically. We look into the ways that the merge changes Ethereum. Since releasing the first Ethereum whitepaper in 2014, Ethereum’s developers have explicitly mentioned their desire to eventually adapt proof-of-stake instead of proof-of-work, but due to technical difficulties, it has not previously been feasible. Yet, Ethereum’s transition from proof-of-work to proof-of-stake - known as “the merge” - is now closer than ever. On the 8th of June, the first public test of the merge is set to occur subsequent to seven other minor tests. On this day, the existing test network Ropsten is set to perform a merge. If the Ropsten merge is successful, Ethereum will merge two other existing test networks, ahead of the actual merge. With this knowledge and insight from the Ethereum Foundation, it seems reasonable to consider that the merge will take place in August, considering that the tests turn out well. With the merge taking place in the near future, we look at the ways it changes Ethereum both technically and economically. From miners to stakers The most substantial change is the transition from proof-of-work to proof-of-stake, fundamentally changing by what method the network verifies transactions. Instead of tremendous computing power put at the network’s disposal by miners, holders of Ether are those to verify transactions. This means that holders have the option to lock their Ether as collateral to be able to verify transactions, in other words, stake their Ether. In return, they receive the transaction fees alongside the security cost. The latter is the newly issued Ether to financially encourage miners at this point in time, but it later goes to stakers for verify transactions. With proof-of-stake, the main security feature is that stakers can be slashed. In case the network determines that a staker has behaved unethically, for instance, tried to reverse transactions, the network can take some or all of their staked Ether. More environmentally friendly When adapting proof-of-stake, Ethereum reduces its energy consumption by around 99.95%. To understand why we must again consider the differences between the consensus mechanisms. With respect to Ethereum, a new block is currently finalized around every 13th second. In these 13 seconds, every miner fights to be the one to finalize the block. This involves applying computing power and thus requires electricity. However, in the end, it is solely one miner that finalizes the block and verifies the transactions, even though other miners have spent a tremendous amount of energy on the same block. In terms of proof-of-stake, one validator is randomly chosen to finalize a block based on one’s amount of Ether staked. This happens prior to the block, so no other staker is trying to finalize the same block, ultimately reducing Ethereum’s energy consumption by around 99.95%. Improved and fairer economics Because the energy required to verify transactions on Ethereum drastically decreases, the security cost can likewise decline massively. With proof-of-work, Ethereum’s security cost amounts to around 5.4mn Ether yearly. This means that 5.4mn new Ether gets issued yearly to the present supply of around 120mn Ether to encourage miners to verify transactions. At the time of the merge, the security cost declines to around 0.5mn Ether yearly being compensated to stakers. This is an extensive reduction in the inflation of Ethereum, which might even make Ethereum deflationary since the paid transaction costs are expected to outpace Ethereum’s security cost. With respect to transaction fees, a substantial part of these get burned, hence removed from the supply. Over time this might result in a supply shock because the market is used to absorbing 5.4mn newly issued Ether yearly but suddenly only around 0.5mn Ether is to be issued.One might also argue that proof-of-stake is economically fairer for holders of Ethereum than proof-of-work. With proof-of-work, you can technically verify transactions without holding Ether as long as you invest heavily in computing power. This means that holders are not compensated for the inflation and transaction fees, effectively diluting them. In the case of proof-of-stake, stakers are compensated fairly for the inflation and transaction fees. Not significantly more scalable, though By default, the merge does not make Ethereum significantly more scalable. If the merge turns out well, the merge decreases the block size from around 13 to 12 seconds but maintains the same block size. This ultimately leads to an increase in transactional output of 7.5% but not much more than that. Based on the present schedule, Ethereum will first significantly improve scalability sometime in 2023. It is intended that shard chains get implemented around here, which will massively improve Ethereum’s scalability and possibly require even less hardware to verify transactions. 12.8mn Ether to be unlocked later On December 1st, 2020, the proof-of-stake version of Ethereum went live, known as the Beacon Chain. The Beacon Chain is technically the one to be merged with proof-of-work based Ethereum when the merge occurs. The Beacon Chain has been finalizing empty blocks since it went live to ensure that it works as intended. To verify these blocks, Ethereum holders have been able to stake Ether on the Beacon Chain. Over 10% of the total supply of Ether, around 12.8mn Ether, is now staked on the Beacon Chain.However, by staking Ether on the Beacon Chain, the Ether has been locked. It was originally planned to unlock the staked Ether when the merge occurs, but to simplify the merge from a technical point of view, Ethereum’s developers have chosen not to unlock the staked funds at the time of the merge. The unlocking will likely follow 6 months after the merge, in which the 12.8mn Ether alongside the afterward staked Ether will be unlocked. The compensated security cost and transaction fees to stakers are likewise locked in these months. This means that presumably until next year no newly issued Ether nor transaction fees are expected to hit the circulating supply, potentially limiting selling pressure. On the other hand, when the staked Ether is unlocked, which is not unlikely to be above 15mn Ether at that time, it might result in severe selling pressure. More of the same The merge will not impact Ethereum by other substantial means. First, it is not planned to impact or require holders of Ether to take an active stance. The merge will occur without them noticing. Secondly, it should not influence tokens or decentralized applications presently utilizing Ethereum. This means that deployed tokens and smart contracts on Ethereum are planned to work like before the merge.Although Ethereum’s developers have worked on the merge for years, it can turn out bad or be further delayed. Just like everything else in crypto, there are simply no guarantees.   Source: What you need to know about the Ethereum merge | Saxo Group (home.saxo)
The ETH/USD Pair Tried To Rebound After The Decline And Wallet Selector In Opera Crypto

ETH/USD: What's Going To Be Ether Price (USD)? What Does TA Say About 1 ETH To USD? | BeInCrypto

BeInCrypto (BeIn News Academy Ltd), we're writing about crypto. BeInCrypto (BeIn News Academy Ltd), we're writing about crypto. 07.06.2022 21:01
Since breaking down from a long-term consolidation pattern, Ethereum (ETH) has struggled to sustain an upward movement and create a bullish structure.       ETH has been falling since reaching an all-time high price of $4,868 in Nov. After bouncing this Jan, the price created a lower high in March (red icon) and has been falling at an accelerated rate since.        The downward movement has so far led to a low of $1,700 on May 12.  An important development is that the price has broken down from an ascending parallel channel which had previously been in place since May 2021. A breakdown from such a long-term structure could cause a similarly long-term drop. Furthermore, the RSI has decreased below 50, in what is considered a sign of a bearish trend. ETH/USD Chart By TradingView Mixed readings The daily chart provides a mixed outlook. On May 8, the price broke down from a descending parallel channel.  Afterward, it validated it as resistance twice, more specifically on May 31 and June 7 (red icons).  However, the RSI has generated a bullish divergence (green line), whose trendline is still intact.  So, while the price action is bearish, the readings from the RSI are bullish.  ETH/USD Chart By TradingView A closer look at the six-hour time frame shows that ETH is trading inside a symmetrical triangle. While this is considered a neutral pattern, it is occuring after a downward movement.  As a result, it is possible that it will lead to the continuation of the downward movement. ETH/USD Chart By TradingView ETH wave count analysis Cryptocurrency trader @TheTradingHubb tweeted a chart of ETH, stating that the price could soon complete wave A of a long-term A-B-C correction. Source: Twitter While this is a possibility, it is not yet certain of the A wave is complete.  If the short-term A:C (white) waves have a 1:1 ratio, this would lead to a low of $876 prior to the reversal.  Furthermore, the exact shape of the ensuing retracement is not yet determined. ETH/USDT Chart By TradingView For Be[in]Crypto’s latest bitcoin (BTC) analysis, click here Disclaimer All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.   RELATED TOPICS Ethereum (ETH) Ethereum Analysis Ethereum Price Ethereum Trading Source: Ethereum (ETH) Generates Bullish Divergence Despite Bearish Price (beincrypto.com)
The ETH/USD Pair Tried To Rebound After The Decline And Wallet Selector In Opera Crypto

Technical Analysis of ETH/USD for June 9, 2022 | InstaForex

InstaForex Analysis InstaForex Analysis 09.06.2022 15:27
Relevance up to 14:00 2022-06-10 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Crypto Industry News: The Bermuda government continues its ambitious plans to become a cryptocurrency hub despite the huge slowdown in the market in 2022. According to Bermuda's Economy and Labor Minister Jason Hayward, a small territory known for its pristine pink sand beaches and attractive tax policies has been actively developing its crypto sector since 2017. On June 3, he noted that the government remained unmoved by the recent crash caused by the collapse of the Terra ecosystem, as the market had survived a lot since 2017. In an interview with the media, Hayward identified the experience of the economy and local regulators in dealing with foreign businesses as a key factor that will help Bermuda become a cryptographic hub. He also stated that the stock market crash would not prevent the plans from being implemented: "We are aware of the recent devaluation of cryptocurrency prices and we are convinced that this does not threaten the island's ability to become a cryptocurrency hub," he said. So far, the Bermuda Monetary Authority has awarded a total of 14 licenses to crypto companies to operate outside the British Isle, four of which were approved in 2022, noted Crag Swan, chief executive of UMB. Technical Market Outlook: The down trend on the ETH/USD pair is still intact as the bears are approaching the last week low located at the level of $1,701.The bearish pressure increases, so in a case of a breakout lower, the next target for bears is seen at the level of $1,420. In order to terminate the down trend, the bulls must break through the key short-term technical resistance located at the level of $2,199. The nearest technical resistance is located at $1,863 and $1,916.     Weekly Pivot Points: WR3 - $2,200 WR2 - $2,120 WR1 - $1,939 Weekly Pivot - $1,827 WS1 - $1,666 WS2 - $1,570 WS3 - $1,388 Trading Outlook: The down trend on the H4, Daily and Weekly time frames had broken below the key long term technical support seen at the level of $2,000 and bears continue to make new lower lows with no problem whatsoever. So far every bounce and attempt to rally is being used to sell Ethereum for a better price by the market participants, so the bearish pressure is still high. The next target for bears is located at the level of $1,420.   Read more: https://www.instaforex.eu/forex_analysis/279283
Best Crypto To Invest In? Cryptocurrencies: Are BTC And ETH "Best Long-Term Investments"? Ethereum (ETH/USD) Decreased By 0.4%, Cardano (ADA) Lost 2.5% | FxPro

Best Crypto To Invest In? Cryptocurrencies: Are BTC And ETH "Best Long-Term Investments"? Ethereum (ETH/USD) Decreased By 0.4%, Cardano (ADA) Lost 2.5% | FxPro

Alex Kuptsikevich Alex Kuptsikevich 10.06.2022 09:06
Bitcoin was down 0.3% on Thursday, continuing to hover around $30K. This mild decline was a bonus of last month's loss of correlation between the cryptocurrency and stock markets. Ethereum lost 0.4%, settling near $1800. Other top-10 altcoins showed mixed dynamics, ranging from a 2.5% decline (Cardano) to a 3.6% rise (Solana). Financial market veteran Peter Brandt believes Ethereum is in a downward triangle and could fall to $1268 within a month. The total capitalisation of the crypto market, according to CoinMarketCap, fell 0.2% overnight to $1.24 trillion. The cryptocurrency fear and greed index were up 2 points to 13 by Friday and remains in "extreme fear" mode. Bitcoin has crossed the $30K mark almost daily over the past month, with no significant preponderance of buyers or sellers to form a clear trend. Generally, the correlation gap between cryptocurrencies and stock markets is long-term good news as it attracts the attention of professional investors. Weakness in equity and bond markets, sagging gold and the murky outlook for the real estate market are turning their eyes to cryptocurrencies as another tool in a diversified portfolio. CNBC's Mad Money host Jim Cramer has changed his mind about investing in cryptocurrencies, calling BTC and ETH the best long-term investments. However, they should not account for more than 5% of a portfolio. PwC, an audit firm, reported that most hedge funds invest less than 1% of their assets in cryptocurrencies because of regulatory uncertainty in the industry. According to a Deloitte survey, 75% of US retailers will implement support for cryptocurrency payments within two years. USDT, the world's most prominent staple by market capitalisation, will be available on the Tezos blockchain powered by the Proof-of-Stake consensus mechanism. The USDT ecosystem is now open on 12 networks, including Ethereum, Solana, Polygon, Tron and Algorand.
The ETH/USD Pair Tried To Rebound After The Decline And Wallet Selector In Opera Crypto

ETHUSD: Ethereum May Update A Two-Year Low Despite Transition To PoS (Proof Of Stake)

InstaForex Analysis InstaForex Analysis 10.06.2022 14:13
Relevance up to 11:00 2022-06-11 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. The summer of 2022 becomes the key for the future of the main altcoin Ethereum. On the one hand, the asset is approaching a historical event and the transition to Proof-of-Stake. On the other hand, the asset is trading near the dangerous level of $1.8k, and risks updating the local bottom near the level of $1.3k. This development is indicated by both fundamental factors and technical metrics. The coin largely echoes the movement of Bitcoin and is approaching a defining moment. The asset is completing the formation of a "wedge" figure on the daily chart. This indicates an increase in volatility, as well as a likely momentum out of the narrowing range. The technical indicators point to an ongoing period of consolidation. However, the RSI and the stochastic oscillator are gradually dropping to the lower border of the bullish zone, which indicates a slight dominance of sellers.   In addition, there is a constant influx of ETH coins to exchanges, which is a negative factor in anticipation of the transition to PoS. At the same time, it should be noted that there are impulsive withdrawals of coins from cryptocurrency exchanges, but they are local in nature and do not occur on an ongoing basis. In many ways, this situation was formed due to the growing level of Bitcoin dominance. Ether failed to become a full-fledged deflationary asset, including due to the transition to Proof-of-Stake.     The Ethereum team has already migrated the Ropsten testnet to the PoS consensus algorithm. The first transactions have already been included in the testnet based on the new algorithm. The merge did not go smoothly, and the developers noticed problems with the proposal of new blocks by the validators. The team is currently working on a solution to this problem. In the long term, as the ETH network migrates to PoS, Ethereum's influence on the crypto market should increase. However, in the current environment, investors are not very enthusiastic about everything that happens, and there are two reasons for this. Both of them are directly related to the bear market and its consequences. The total cost of funds in DeFi applications has decreased by 55% since the beginning of 2022. This indicates a low level of liquidity, and many projects have to adjust in order to survive. Transactions on the ETH network have also dropped to a minimum, as decentralized applications are the main source of transactions on the main altcoin network. A bear market will significantly "cleanse" this market, which will negatively affect the Ethereum ecosystem and the capitalization of the coin.     The second reason is the current macroeconomic situation. The main altcoin is not an important tool in the current environment, when the main goal of investors is capital protection and related investments. CoinShares notes that more and more VCs are opting for Bitcoin-based products due to high inflation rates. Similar forecasts are given in the central bank of the EU and the USA. In the current conditions, ETH completely loses the competition to Bitcoin.         In the current situation, the further movement of the ETH price will largely depend on Bitcoin. The main digital asset increased its dominance level to a six-month high, due to which the correlation of the altcoin with BTC increased significantly.     And if Bitcoin makes a downward breakdown of its own triangle, then there is every reason to believe that the ether will follow a new local bottom, which runs in the $1.3k–$1.4k area.   Read more: https://www.instaforex.eu/forex_analysis/313098
Bitcoin Continues Its Downward Trend AndIs Backed By Its Own Mining Hardware

BTC/USD Hitting $20K!? Bitcoin Price Is Going Down! ETH/USD, Solana (SOL) And Tron - They All Have Decreased! | FxPro

Alex Kuptsikevich Alex Kuptsikevich 13.06.2022 08:36
Bitcoin is losing for the seventh consecutive day, at one point on Monday morning, falling below $25K. The loss in seven days of selling is approaching 18%, bringing the rate to its lowest since December 2020. Ethereum has lost 28% in seven days. Altcoins in the top 10 fell in price from 14.5% (Tron) to 32% (Solana). The total capitalisation of the crypto market, according to CoinMarketCap, sank 20% for the week, approaching the 1 trillion mark and crossing it at some point in the morning. As the price falls, so does trading volume, meaning we see investors fleeing the crypto market. However, the traditional market is suffering from the same symptoms. The cryptocurrency Fear and Greed Index dipped to 11 points by Monday. Two similarly prolonged swings of this index in the 10-20 range were in December 2018 and March 2020. In the first, it was the end of the crypto-winter; in the second, it was the final chord of the sell-off. However, it may be too early to rush to redeem the drawdown. Bitcoin does not seem to have closed the gestalt yet, having not tested the 200-week moving average as it did in the previous two cases. It is now passing through 22K. A more ambitious target for the bears would be an attempt to push Bitcoin back to the 2017 highs region, above $19K. US Treasury Secretary Janet Yellen called cryptocurrencies a ‘very risky’ option for retirement savings. Galaxy Digital CEO Mike Novogratz warned investors of a prolonged phase of market consolidation amid tightening monetary policy by the US Federal Reserve. Cardano blockchain founder Charles Hoskinson believes there are positives to be found even in the current market situation, as a bearish trend opens new opportunities for the crypto sphere. The Central Bank of Canada reported that the share of its citizens owning BTC almost tripled to 13% in 2021. The Swedish Central Bank has called for a ban on bitcoin and other Proof-of-Work cryptocurrencies because of the environmental impact.
Market Crash: Are Ethereum (ETH) And Bitcoin (BTC/USD) Price "Very Close To Their Bottom"!? | FXStreet

Market Crash: Are Ethereum (ETH) And Bitcoin (BTC/USD) Price "Very Close To Their Bottom"!? | FXStreet

FXStreet News FXStreet News 15.06.2022 16:46
Analyst who predicted the bear market of 2018 believes Bitcoin and Ethereum prices are very close to their bottom. Kevin O’Leary of Shark Tank detailed his crypto holdings include Ethereum and scaling solution MATIC. Analysts argue that a drop below $1,070 could push Ethereum prices lower. The cryptocurrency analyst known for accurately predicting crypto bear markets believes Ethereum is close to printing cycle lows. Analysts believe Ethereum price could continue to plummet lower. Ethereum price could hit bottom soon? The crypto strategist Smart Contracter accurately called the bottom of Bitcoin and Ethereum during the 2018 bear market. The analyst is now back with his prediction for the two largest cryptocurrencies and believes BTC and ETH are close to their cycle low. The analyst told his 208,000 followers on Twitter that Ethereum has gone through a capitulation phase and is now trading at a level that offers strong support. Smart Contracter is quoted in his recent tweet: BTC and ETH are both at their weekly respective 200-week moving averages. Bottom is very, very close in my opinion, maybe marginal new lows on lower timeframes but this is the spot to start accumulating in my opinion. This is pure unadulterated capitulation. ETH-USD price chart Kevin O’Leary is bullish on Ethereum Kevin O’Leary, a Canadian entrepreneur and investor at Shark Tank, recently revealed the cryptocurrencies in his portfolio. O’Leary has shared his investment strategy when the crypto market is hit by massive volatility. The Shark Tank star and billionaire investor abide by the general rules of portfolio theory when allocating capital to cryptocurrencies. In an interview with the Bankless podcast, O’Leary shared the rules of capital allocation in his portfolio, implying a bullish outlook on Ethereum, one of the cryptocurrencies he holds. Ethereum price drop below $1,070 could push the altcoin to new low Analysts have evaluated the Ethereum price trend and argue that $1,070 is major support for ETH, and a drop below this level could put a lot of pressure on bulls. The altcoin’s price could slide to support at $1,000 in the near term. ETH-USD price chart Ethereum price could enter the three-digit territory FXStreet analysts believe Ethereum price could decline and plummet lower, entering the three-digit territory. For more information, watch this video:
The ETH/USD Pair Tried To Rebound After The Decline And Wallet Selector In Opera Crypto

Fluctuating Crypto: (ETH/USD) Ethereum Price Has Gone Down! Trading plan for Ethereum on June 17, 2022 | InstaForex

InstaForex Analysis InstaForex Analysis 17.06.2022 15:31
Relevance up to 14:00 2022-06-22 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.   Technical outlook: Ethereum dropped through the $1,012 low early this week before finding interim support. The crypto is seen to be trading close to the $1075 mark and is expected to resume its rally towards $1,920 initial resistance soon. Bulls are looking poised to hold prices above the $1,000 mark to keep the near term structure intact and constructive. Ethereum has carved a meaningful downswing between $4,850 and $1,012 levels as seen on the daily chart. Ideally, prices need to retrace the above drop before the next leg lower could resume. Immediate price resistance is seen through the $1,920 mark and a minimum push towards that is expected in the near term. Ethereum might have terminated its decline around the $1,012 mark and could be preparing to resume its rally. A push above $1,244 will be required to confirm that bulls are back in control and further acceleration towards the $1,920 mark. Aggressive traders might be preparing to initiate fresh long positions against $1,000. Trading plan: Preparing to resume higher through $1,920 mark against $1,000 Good luck!   Read more: https://www.instaforex.eu/forex_analysis/280641
The ETH/USD Pair Tried To Rebound After The Decline And Wallet Selector In Opera Crypto

ETH Price May Be Surprising! Ethereum - Technical Analysis of ETH/USD for June 20, 2022

InstaForex Analysis InstaForex Analysis 20.06.2022 09:36
Relevance up to 09:00 2022-06-21 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Crypto Industry News: Tether, the largest stablecoin and the third largest cryptocurrency in the world, fell victim to a massive DDOS attack on June 18. According to a tweet by Paolo Ardoino, the company received a ransom note from hackers who attacked its system. He explained, however, that this was by no means new. Tether has dealt with similar situations in the past. As a result of the attack on the stablecoin site, 8 million queries were recorded in 5 minutes. On a normal day, she only receives 2 inquiries per 5 minutes. The company first reported the attack about 2 hours after it was launched. While tether has been losing market share in the past few weeks, other stablecoins, such as USD Coin (USDC), have been gaining in value. USDC's market capitalization has risen from approximately $ 48 billion in mid-May to $ 55 billion today. The dwindling market cap of the tether is taking place in the face of ongoing panic in the market. The aggregate value of the entire cryptocurrency market has recently dropped below $ 1 trillion for the first time since February 2021. Technical Market Outlook: The ETH/USD pair had made the Bullish Engulfing candlestick pattern at the H4 time frame chart and is continuing the up move. The recent local high was made at the level of $1,156, however, it is still not enough to terminate the down trend just yet. The next target for bulls is seen at the level of $1,233, which is the technical resistance. The intraday technical supports are seen on the levels of $1,048, $1,008 and $1,000. The larger time frame chart trend remains down and as long as the key short-term technical resistance is not clearly violated, the outlook remains bearish.     Weekly Pivot Points: WR3 - $2,249 WR2 - $1,737 WR1 - $1,420 Weekly Pivot - $1,161 WS1 - $818 WS2 - $551 WS3 - $206 Trading Outlook: The down trend on the H4, Daily and Weekly time frames had broken below the key long term technical support seen at the level of $1,420 and bears continue to make new lower lows with no problem whatsoever. So far every bounce and attempt to rally is being used to sell Ethereum for a better price by the market participants, so the bearish pressure is still high. The next target for bears is located at the level of $1,000. Please notice, the down trend is being continued for the 11th consecutive week now.   Read more: https://www.instaforex.eu/forex_analysis/280793
The ETH/USD Pair Tried To Rebound After The Decline And Wallet Selector In Opera Crypto

Trading Signal for Ethereum (ETH/USD) on June 20-21, 2022: buy above $1,045 (21 SMA - 1/8 Murray) | InstaForex

InstaForex Analysis InstaForex Analysis 20.06.2022 18:04
Relevance up to 16:00 2022-06-23 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.   Ethereum (ETH/USD) fell to new lows at $878 on Saturday, this level was last seen on Jan 3, 2021. Since this level, Ethereum has been bouncing and has recovered over 30%. It is currently trading at around 1,125 about 1/8 Murray. Cryptocurrency market sentiment has stabilized. Bitcoin has bounced from the low of 17,566 to $20,970 with a gain of more than 20%. Retail buying, profit-taking on short positions and strong overselling have all acted as support for a strong bottom which is likely to see the market recover some of the losses of the last few weeks. Another fact that sets the stage for the recovery of cryptocurrencies is the change in market sentiment. Risk assets such as the Nasdaq-100 index are bouncing and this could favor the recovery of Ether in the coming days. According to the 4-hour chart, we can see that Ether reached the -1/8 Murray line at 875. This level represents extremely oversold conditions which were proven when the eagle indicator reached the 5-point level. Since June 18, the eagle indicator has been giving a positive signal. So, any pullback in ETH is likely to be seen as an opportunity to buy with targets at the strong resistance of 2/8 Murray located at 1,250. Seeing that Ether broke the 21 SMA and is now consolidating above this level adds a positive outlook. As long as it keeps trading above $1045, a recovery is likely in the next few days. If the bullish trend persists and the price breaks sharply and closes above 2/8 Murray at 1,250 on the daily chart, we could expect an upward acceleration. The price could reach the EMA 200 located at 1,774, which would mean a recovery of more than 80% of ETH /USD. On the downside, if ETH consolidates below the 0/8 Murray located at the psychological level of $1000, we could expect a sharp drop and it could reach the area of -1/8 Murray at $875. Our trading plan for the next few hours is buy ETH/USD above 1/8 Murray located at 1,125 or wait for a technical bounce from 1,045 (21 SMA) with targets at 1,250 and 1,574. The eagle indicator is giving a positive signal which supports our bullish strategy.   Read more: https://www.instaforex.eu/forex_analysis/280907
ETH/USD May Scare Many! Market Crash: Can 1 ETH To USD Reach $750!?

ETH/USD May Scare Many! Market Crash: Can 1 ETH To USD Reach $750!?

FXStreet News FXStreet News 21.06.2022 16:34
Ethereum collateral position set a new record as 71,863.47 ETH were liquidated on June 18. Independent market analyst told his followers that latest Ethereum price rally would make for a clean fakeout. Analysts believe Ethereum price could plummet to $750 in the bear market, an 85% drop from all-time high. Ethereum price has rebounded from its recent slump, outperforming Bitcoin. Experts believe the recent rebound could end up being a “clean fakeout” as liquidations hit large Ethereum collateral positions. Some analysts are projecting a bearish outlook on Ethereum price. Largest Ethereum collateral position liquidated Based on data from Dune Analytics, a crypto data intelligence platform, the wallet with code 0x2291F52bddc937b5B840d15E551e1DA8C80c2B3c liquidated a 71,863.47 ETH collateral position on Liquity at $927.13, at 19:39 GMT on June 18. This set the largest single liquidation record for Liquity. Liquity is a decentralized borrowing protocol that allows users to draw loans at 0% interest against an Ethereum collateral. Loans are paid out in LUSD, a USD-pegged stablecoin on Liquity protocol. The chart below represents the hourly total value locked (TVL) change over the past week on Liquity and the largest ETH liquidation is represented on June 18. Hourly TVL Change (7 days) Liquity Ethereum price gained 30% in two days, outpaced Bitcoin After its massive recent slump, Ethereum price has bounced back, rallying 30% within 48 hours. Experts noted that this ETH recovery has outpaced Bitcoin as the altcoin made a comeback above $1,100 within two days. Experts noted that Ethereum is currently the best-performing asset in the top five cryptocurrencies by market capitalization. Ethereum started a short-term uptrend after dropping to the support zone at $880 on June 19 and climbed above $1,100 moving into a short-term bullish zone. The altcoin now faces major resistance near the $1,150 and $1,160 levels. ETH-USD price chart Analyst calls “clean fakeout” in Ethereum price PostyXBT, a crypto trader and analyst, told his 79,900 followers to be careful of the recent rebound in Ethereum price. The analyst argued that the move “would make for a clean fakeout.” The analyst was quoted in a tweet: [Ethereum]... stopped out on the reclaim of the level. It looks like an opportunity to flip long towards $1250 but $btc still hasn't reclaimed it's like for like level. Would make for a clean fake out. Be careful. Justin Bennett, co-founder of Cryptocademy, supports this fakeout prediction. Bennett noted that fakeouts to one side of the pattern trigger extended moves in the opposite direction. He considers $900 and $780 as support levels for Ethereum price. Ethereum price could drop to $750 for this reason Wendy O, the host of the O show and a leading crypto analyst, believes Ethereum price could plummet to a $750 low. Wendy argues that the current price of Ethereum is close to the beginning of 2021. Typically in bear markets, Bitcoin and Ethereum prices can drop up to 85%. If this holds true, an 85% drawdown from Ethereum’s all-time high of $4,800 would lead to $750 and this is the level that Wendy is watching out for. Wendy told NextAdvisor, Ethereum hit an all-time high in November 2021 at roughly $4,800, so an 85% correction would lead to around $750. However, it’s not going to be a straight shot down. Key investment strategy before next Ethereum bull run Analysts at FXStreet have recommended dollar cost averaging (DCA) as the ideal investment strategy before Ethereum’s next bull run. They consider $900 the bottom for Ethereum price and recommended $500 investments when price hit $1,000 and again when it hit $1,100. For more information, watch this video:
The ETH/USD Pair Tried To Rebound After The Decline And Wallet Selector In Opera Crypto

Will We Pay Less For 1 ETH!? Technical Analysis of ETH/USD for June 22, 2022 | InstaForex

InstaForex Analysis InstaForex Analysis 22.06.2022 09:16
Relevance up to 07:00 2022-06-23 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Crypto Industry News: Paolo Ardoino, CTO of Tether, announced that the company will undergo a series of audits involving several large specialized companies. In a tweet, Tether announced that it intends to conduct a series of talks with top consulting companies in the coming days. Immediately there was speculation that the recent market crash and the collapse of Terra's stablecoin may have put the company in a difficult position and that it is trying to rectify its mistakes. On the other hand, in just one week, stablecoin faced record payouts of its currency. As much as 12% of USDT evaporated from circulation. This is one of the largest withdrawals in history. Perhaps even second to the $ 16 billion payout by Washington Mutual that led to its bankruptcy in 2008. On May 12, Tether lost its link to the dollar for several hours. Then its rate fell to $ 0.95, triggering panic in the markets. Doubts have arisen over Tether's cash reserves for some time. Apparently, the next scheduled audits are to focus on this issue. Ardoino, who has been trying to assure the solidity of the company's reserves for some time, said Tether had reduced commercial paper holdings from $ 40 billion to $ 15 billion in the past eight months. In addition, there has been a greater shift in reserves towards securities with maturities ranging from zero to three months. Technical Market Outlook: The ETH/USD pair has broken below the short-term trend line support after the second Pin Bar candlestick was done at the level of $1,191. This recent high is still not enough to terminate the down trend just yet. The next target for bulls is seen at the level of $1,233, which is the technical resistance. The intraday technical supports are seen on the levels of $1,048, $1,008 and $1,100. The larger time frame chart trend remains down and as long as the key short-term technical resistance is not clearly violated, the outlook remains bearish.     Weekly Pivot Points: WR3 - $2,249 WR2 - $1,737 WR1 - $1,420 Weekly Pivot - $1,161 WS1 - $818 WS2 - $551 WS3 - $206 Trading Outlook: The down trend on the H4, Daily and Weekly time frames had broken below the key long term technical support seen at the level of $1,420 and bears continue to make new lower lows with no problem whatsoever. So far every bounce and attempt to rally is being used to sell Ethereum for a better price by the market participants, so the bearish pressure is still high. The next target for bears is located at the level of $1,000. Please notice, the down trend is being continued for the 11th consecutive week now.   Read more: https://www.instaforex.eu/forex_analysis/281209
The ETH/USD Pair Tried To Rebound After The Decline And Wallet Selector In Opera Crypto

ETH: End Of Crypto Crash!? Is Ethereum (ETH/USD) Going To Increase By 45%!? | FXStreet

FXStreet News FXStreet News 24.06.2022 16:36
Ethereum price sees momentum building for a pop towards $1,243.89. With several central banks this week signalling near the end of the rate hike cycle, markets are finding equilibrium. Expect that space ETH price to rally higher and could return to $1,688.39. Ethereum (ETH) price is technically set to make a killing with a possible 8% intraday gain in sight and, in the near term, a whopping 45% gain forecast. The sudden change comes after a few central banks signalled that the end of their monetary tightening is near, and comments from Powell make clear that the FED will push the US into a recession deliberately to cut short inflation and, by doing so, could trigger a massive weaker dollar. That opens up massive room for ETH price action to manoeuvre in, return to the base of the triangle at $1,688.39 and book 45% gains. ETH price gearing up for 45% gains Ethereum price opens quite bullish this morning in the ASIA PAC session after bulls faced headwinds this week but look to survive and eke out weekly gains going into the weekend. As grim and dire as last week's outlook, the background is changing this week with different rhetoric as markets assess the new information from central banks. As it stands, the congressional hearing of Powell revealed that the FED is planning to push the US into recession to tame inflation deliberately. ETH price could trade off this information as a recession in the US would mean a weaker dollar, and several other central banks have notified markets that they are near ending their tightening path, which means that money conditions could start to normalize again with cash inflow set to restart for cryptocurrencies. On the back of that, ETH price could jump above $1,243.89 and have the field wide open to rally in, with sight set on the base of the bearish triangle from May at $1,649.37. ETH/USD daily chart The delicate equilibrium currently playing with the situation in Ukraine and Russia could easily break down again with the cut-off from supply chains to the Russian enclave Kaliningrad. That could see a Russian military response and ramp up tensions again on the geopolitical stage. That would come with a wave of risk-off again and smash ETH price back to $1,000 and possibly see it slip back below $900 for support. Do not even rule out a test at $830.93 at the pivotal historic level already marked up.
Crypto: Ethereum (ETH) Stops Its Development After The Drop?

Altcoins: ETH/USD - Technical Analysis (Ethereum To US Dollar)

InstaForex Analysis InstaForex Analysis 15.07.2022 10:26
Relevance up to 09:00 2022-07-16 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Crypto Industry News: Navin Jain, director of Mastercard Indonesia, said Mastercard will support Fasset's efforts to promote financial integration in the country. Financial services company Mastercard has partnered with crypto gateway provider Fasset to jointly develop digital solutions that can drive adoption in Indonesia. The cooperation is aimed at expanding financial integration in the country and expanding the possibilities of the local economy. In a release, Navin Jain, national director of Mastercard Indonesia, said the collaboration would support Fasset's efforts to foster financial integration in the country. According to Jain, the partnership will help residents gain greater access to digital technology. Hendra Suryakusuma, director of Fasset, said there are 92 million people in Indonesia who do not have a bank account. Fasset and Mastercard will fill this gap, according to Suryakusuma, to ensure better access to digital financial services. Technical Market Outlook: The ETH/USD pair is back inside the channel and the bulls really want to test the supply zone located between the levels of $1,255 - $1,281. The momentum is at the level of 50 points already, so the bulls might soon break back inside the positive territory as well. The intraday technical support is seen on the level of $1,071 and $1,114. The larger time frame trend remains down and as long as the key short-term technical resistance, located at the level of $1,281, is not clearly violated, the outlook remains bearish.     Weekly Pivot Points: WR3 - $1,466 WR2 - $1,412 WR1 - $1,321 Weekly Pivot - $1,181 WS1 - $1,090 WS2 - $950 WS3 - $718 Trading Outlook: The down trend on the H4, Daily and Weekly time frames had broken below the key long term technical support seen at the level of $1,420 and bears continue to make new lower lows with no problem whatsoever. So far every bounce and attempt to rally is being used to sell Ethereum for a better price by the market participants, so the bearish pressure is still high. The next target for bears is located at the levels below $1,000, like the last swing low seen at $880. Please notice, the down trend is being continued for the 12th consecutive week now.   Read more: https://www.instaforex.eu/forex_analysis/284644
The ETH/USD Pair Tried To Rebound After The Decline And Wallet Selector In Opera Crypto

How Much Energy Does Proof-of-Stake Crypto Need? ETH/USD Technical Analysis

InstaForex Analysis InstaForex Analysis 18.07.2022 11:00
Relevance up to 09:00 2022-07-19 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Crypto Industry News: The European Central Bank has expressed concerns about the significant carbon footprint of PoW mining, while pointing to a possible ban on such assets. In an article published earlier this week, bank researchers argued that Bitcoin and Ethereum both have a significant carbon footprint. Reportedly, they consume similar amounts of energy every year as medium-sized countries, including Spain and Austia. Experts also talked about Proof-of-Stake. According to the report, a PoS-based cryptocurrency would require as much energy as a small American town with around 2,100 homes. The article notes that the benefits Bitcoin brings to society is "questionable" while blockchain may have potential benefits. Using analogies, ECB experts described PoW as a cryptographic version of fossil fuel cars and PoS as electric vehicles. Blockchains like Ethereum are already working on the transition from Proof-of-Work to Proof-of-Stake, where the process is expected to be completed by 2023. Meanwhile, ECB experts believe it is "unlikely" that Bitcoin will soon migrate to PoS. Nevertheless, the article states that the transition to renewable energy requires political and social initiatives regarding energy sources and consumption. According to experts, such decisions would favor certain actions and pose a risk to the value of crypto assets. The report also argued that PoW-based crypto assets are inconsistent with environmental, social, and governance (ESG) goals. Therefore, investors need to research whether investing in specific cryptocurrencies is in line with their ESG investment strategy. This is why Tesla has not accepted Bitcoin as payment for goods and services as of May 2021. According to Elon Musk, the company will resume BTC payments when Bitcoin miners start using more than 50% of green energy for their operations. Technical Market Outlook: The ETH/USD pair had broken above the supply zone located between the levels of $1,255 - $1,281 and made a new local high at the level of $1,462 (at the time of writing the article). The momentum is at the level of 65 points already, so the bulls are now controlling the market. The intraday technical support is seen on the level of $1,319 and $1,281. The larger time frame trend remains down, however the recent breakout might be a beginning of a bigger bounce even towards the level of $1,750.     Weekly Pivot Points: WR3 - $1,617 WR2 - $1,509 WR1 - $1,470 Weekly Pivot - $1,401 WS1 - $1,362 WS2 - $1,294 WS3 - $1,185 Trading Outlook: The down trend on the H4, Daily and Weekly time frames had broken below the key long term technical support seen at the level of $1,420 and bears continue to make new lower lows with no problem whatsoever. So far every bounce and attempt to rally is being used to sell Ethereum for a better price by the market participants, so the bearish pressure is still high. The next target for bears is located at the levels below $1,000, like the last swing low seen at $880. Please notice, the down trend is being continued for the 13th consecutive week now.   Read more: https://www.instaforex.eu/forex_analysis/284844
The ETH/USD Pair Tried To Rebound After The Decline And Wallet Selector In Opera Crypto

Crypto: Altcoins - Technical Analysis Of ETH/USD (Ether Price) - 22/07/22 | InstaForex

InstaForex Analysis InstaForex Analysis 22.07.2022 10:25
Relevance up to 07:00 2022-07-23 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Crypto Industry News: Dubai - one of the largest innovation hubs and the host of Expo 2022 is not slowing down in its efforts to become the most open to blockchain country in the world. In a recently published development strategy, Dubai strongly focuses on one of the most popular trends today - the Metaverse. Prince bin Mohammed's roadmap for the coming years aims to set the standard for other countries willing to engage in the development of Web 3.0. Currently, Dubai is home to over 1,000 companies operating in various branches of blockchain technology, which together contribute to the emirate's budget with a significant amount of USD 500 million annually. The ambitious plan assumes that Dubai will achieve three milestones by the end of 2027: 1. Creation of 40,000 new jobs in the blockchain sector, mainly in the development of Metaverse. 2. Increasing the number of companies operating in the crypto sector to at least 5,000. 3. Contribution to the emirate's budget with revenues of $ 4 billion from the cryptocurrency sector. One of the proofs of how seriously Dubai is taking its plans is the announcement of the opening of the world's first Metaverse Hospital. Thanks to the applied 3D and Virtual Reality technologies, patients who are permanently or for a longer period of time in bed will be able to take virtual walks or even participate in sports activities, which is to positively affect the rehabilitation process. According to the assurances of Prince bin Mohammed, Dubai intends to expand its infrastructure and refine its laws and regulations so that investing in this emirate becomes an obvious choice for companies from the blockchain sector. Technical Market Outlook: The ETH/USD pair had paused the rally at the level of $1,631, just ahead of the key short-term technical resistance located at $1,710. The momentum is at the level of 70 points already, so the bulls are now fully controlling the market, however the market conditions are now extremely overbought. The intraday technical support is seen on the level of $1,319 and $1,281. The larger time frame trend remains down, however the recent breakout might be a beginning of a bigger bounce even towards the level of $1,750.     Weekly Pivot Points: WR3 - $1,617 WR2 - $1,509 WR1 - $1,470 Weekly Pivot - $1,401 WS1 - $1,362 WS2 - $1,294 WS3 - $1,185 Trading Outlook: The down trend on the H4, Daily and Weekly time frames had broken below the key long term technical support seen at the level of $1,420 and bears continue to make new lower lows with no problem whatsoever. So far every bounce and attempt to rally is being used to sell Ethereum for a better price by the market participants, so the bearish pressure is still high. The next target for bears is located at the levels below $1,000, like the last swing low seen at $880. Please notice, the down trend is being continued for the 13th consecutive week now.   Read more: https://www.instaforex.eu/forex_analysis/285556
Crypto: Ethereum (ETH) - What Is It? The Merge Explained

Crypto: Ethereum (ETH) - What Is It? The Merge Explained | KuCoin

Kucoin Blog Kucoin Blog 05.08.2022 12:25
Table of Contents: · What is Ethereum? · What milestones has Ethereum achieved since its 6th anniversary? · What is the Merge? · Why is the Merge important? · What might happen in the future? · Closing thoughts Ethereum ushered in a new era in blockchain technology. Unlike Bitcoin, which serves as a distributed ledger for peer-to-peer transactions, Ethereum features smart contracts. Smart contracts provide the building blocks for decentralized applications (dApps).   Through dApps, the blockchain went from being just a decentralized, immutable, and transparent ledger to becoming a global network that supports a wide range of use cases. For instance, there are dApps for lending and borrowing cryptocurrencies, gaming, and exchanging tokens, to mention a few.   The Ethereum network primarily supports ETH, the second-largest cryptocurrency capitalization. Like Bitcoin, Ethereum currently relies on a Proof-of-Work (PoW) consensus model to verify transactions. To this end, Ethereum miners that validate transactions get mining rewards.   However, the PoW consensus mechanism has, over the years, come under fire for being energy intensive. Environmentalists argue that PoW mining takes a toll on the climate, especially when miners use fossil fuels to power their rigs.   As a result, Ethereum began transitioning to a Proof-of-Stake (PoS) model. PoS relies on a user’s stake instead of power. This feature makes it 99% more effective than PoW. By transitioning to PoS, Ethereum seeks to become more sustainable and eco-friendly.   What Milestones Has Ethereum Achieved Since Its 6th Anniversary? Following Ethereum’s sixth anniversary on July 30, 2021, Ethereum has implemented four upgrades on its journey to becoming a PoS blockchain. These are London, Altair, Arrow Glacier, and Gray Glacier.   London came first on August 5, 2021 on block number 12,965,000. This upgrade introduced EIP-1559, which changed the transaction pricing mechanism to include a fixed per-block fee, which the network burns. This pricing mechanism also expands or contracts block sizes to deal with congestion, thus increasing mining speed.   Altair was the first scheduled upgrade for Ethereum’s Beacon Chain, and it shipped on October 29, 2021. This fork added support for sync communities. It enabled light clients, which helped reduce the overhead needed to determine the head of the chain, thus increasing the network’s decentralization.   Arrow Glacier shipped on December 9, 2021. This upgrade postponed Ethereum’s difficulty bomb for several months, offering developers more time to develop ETH 2.0. The difficulty bomb forces the Ethereum PoW network to stop issuing blocks, making mining disadvantageous for miners and discouraging network users from using the PoW mining when the network switches to PoS.   Gray Glacier shipped on June 30, 2022, and it delayed the difficulty bomb by three months.   In between the upgrades, ETH recorded a significant milestone in its price history. On November 16, ETH set a new all-time high (ATH) of $4,891.   Additionally, the number of unique Ethereum addresses soared from 164.73 million to 201.37 million as of July 21. This denotes an average growth rate of 144.1 million.   What is the Merge? The Merge is the most significant update in Ethereum’s history. This upgrade represents when Ethereum will transition to a PoS network. Following this upgrade, the current Ethereum mainnet will merge with its new PoS consensus layer, dubbed the Beacon Chain.   The Beacon Chain shipped separately from the Ethereum mainnet in December 2020. Since then, it has been running parallel to the mainnet as a different blockchain network. This means the Beacon Chain has not been recording mainnet transactions. Instead, it reaches a consensus by agreeing on active validators and their account balances.   Why is the Merge Important? When the Merge ships, the Ethereum mainnet and Beacon Chain will become one, marking Ethereum’s transition to a PoS model. The update is expected to ship in Q3 or Q4 2022. Ethereum has carried out extensive testing to ensure the network seamlessly transitions to PoS when the Merge ships.   After the Merge, the Beacon Chain will become Ethereum’s consensus engine. This means the role of generating valid blocks will shift from miners to PoS validators.   It is worth noting that Ethereum’s history will remain intact even after the Beacon Chain becomes the consensus engine. As such, ETH holders don’t need to worry about funds disappearing from their wallets after the network shifts to PoS.   What Might Happen in the Future? After the Merge, Ethereum’s developers plan to continue developing the network until it is powerful enough to help all of humanity. According to Ethereum co-founder Vitalik Buterin, the Merge would only make Ethereum 55% complete.   The network’s future upgrades include, but are not limited to, a four-part fork that developers have dubbed “surge, verge, purge, and splurge.” This upgrade is set to introduce more security and decentralization to Ethereum after it shifts to a PoS model.   Buterin believes the end of Ethereum’s roadmap will result in a more scalable blockchain network. He projects that Ethereum should be able to complete 100,000 transactions per second by the end of its development journey. This will be a massive milestone for the blockchain, which currently processes about 15 transactions per second.   Closing Thoughts By transitioning to PoS, Ethereum will undergo significant changes. While scalability comes as a perk, Ethereum will become less decentralized, meaning the network’s security will also take a hit. However, by embracing careful design choices, Ethereum can minimize the impact of drifting from what it initially set out to become; a decentralized and open blockchain network.   Find The Next Crypto Gem On KuCoin! Download KuCoin App>>> Sign up on KuCoin now>>> Follow us on Twitter>>> Join us on Telegram>>> Join the KuCoin Global Communities>>> Subscribe to YouTube Channel>>> Source: Ethereum Celebrates Its Seventh Anniversary And the Coming Merge| KuCoin
Kucoin: Wrapped Tokens (i.a. WBTC, WETH) Explained

Kucoin: Wrapped Tokens (i.a. WBTC, WETH) Explained

Kucoin Blog Kucoin Blog 05.08.2022 14:02
Table of Contents: What is a wrapped token? How do wrapped tokens work? Examples of wrapped tokens Wrapped tokens on Ethereum Benefits of using wrapped tokens Deposit, Withdraw & Trade Wrapped Tokens Closing thoughts Decentralized finance (DeFi) is rapidly disrupting the financial sector by offering trustless banking. However, it also faces multiple challenges that hinder its mass adoption. At the moment, one of the most significant obstacles is insufficient liquidity.   For instance, Bitcoin (BTC) has the largest market cap in the crypto market - (around $420 billion). However, its blockchain does not support smart contracts and hence does not support DeFi. On the other hand, the Ethereum blockchain supports the highest number of DeFi protocols. Nonetheless, the market cap of its native token, ETH, currently sits at $186 billion.   With DeFi relying on users to provide liquidity, it is imperative to have cross-chain interoperability, a necessity that has proven a tough nut to crack.   Thus far, efforts to make blockchain networks interoperable have seen developers create wrapped tokens. These tokens can function on different blockchain networks, introducing some aspect of cross-chain interoperability.   What is a Wrapped Token? A wrapped token is a cryptocurrency pegged to another cryptocurrency in a 1:1 ratio. Simply put, the price of the wrapped token always equals that of the underlying coin. To this end, wrapped token holders can redeem them for the original asset at any given time.   The wrapped token and the original token run on different blockchains, with the prior running on blockchains that support DeFi. This feature ensures that wrapped tokens create a bridge between incompatible blockchain networks. Consequently, this interoperability helps introduce more liquidity to DeFi protocols, boosting the utility of cryptocurrencies.   How Do Wrapped Tokens Work? To get wrapped tokens, users can create them by wrapping them on their own or purchasing them from centralized or decentralized crypto exchanges.   Wrapping tokens involves finding merchants for a specific token and transferring the tokens to them. The merchants then transfer the digital assets to a custodian who mints their wrapped versions in a 1:1 ratio and stores the underlying tokens in a digital vault.   After putting their wrapped tokens to use, a user can redeem them by requesting the merchant to send the custodian a burning request for a given amount of the tokens. Finally, the custodian destroys the wrapped tokens and returns the original assets to the user.   The custodian records all minting and burning transactions on-chain for transparency, ensuring that wrapped tokens always maintain their 1:1 peg to the underlying asset.   Examples of Wrapped Tokens The need to bridge the Bitcoin and Ethereum networks saw developers team up to create wrapped Bitcoin (wBTC), an ERC-20 version of BTC. wBTC is the most popular wrapped token and is currently the 18th-largest cryptocurrency by capitalization, with a market cap of over $5 billion. Needless to say, wBTC is the largest wrapped token.   The second largest wrapped token is renBTC, an ERC-20 token, which is part of the Ren Protocol. renBTC has a market cap of over $80 million. renBTC serves the same purpose as wBTC.   Wrapped NXM (wNXM) is the third-largest wrapped token by market capitalization. The token allows users to trade NXM, the native token of the Nexus Mutual platform, outside the protocol.   There are over 20 wrapped tokens in the crypto market, and they have a market cap of $5.31 billion.   Wrapped Tokens on Ethereum An interesting example of a wrapped token on Ethereum is wrapped Ethereum (wETH). Although creating a wrapped version of ETH seems to defy logic, it is worth noting ETH arrived before the network introduced the ERC-20 standard for issuing tokens. As such, ETH is not ERC-20 compliant.   To this end, developers created wrapped Ethereum (wETH) to simplify using ETH in DeFi. With the bulk of DeFi activity being on Ethereum, most dApps require users to swap ETH with ERC-20 tokens, and wETH streamlines this process.   Other wrapped tokens on Ethereum include wBTC, wNXM, wDGLD, and wCRO, among other ERC-20-compliant tokens that run on blockchains other than Ethereum.   Benefits of Using Wrapped Tokens Wrapped tokens increase the utility of cryptocurrencies by expanding the number of blockchains they can run on. As utility increases, the value of crypto networks rises, helping to expedite the maturity of the nascent asset class.   Through wrapped tokens, crypto holders can put their digital assets to use by lending them out through DeFi protocols to earn interest. Crypto holders can also stake the tokens and provide the DeFi sector with liquidity. In return, DeFi protocols offer stakers high yields.   Wrapped tokens also help minimize the transaction costs and times. For instance, using a wrapped version of BTC on a scalable blockchain network would significantly cut costs and ensure faster transaction times.   How to Deposit, Withdraw & Trade Wrapped Tokens Deposit and withdrawal functions are available from exchanges that support the wrapped tokens. For instance, KuCoin supports some wrapped tokens deposit and withdrawal, such as WBTC.   ​​In general, a wrapped token may not have a separate trading pair. For the purpose of consolidating liquidity, centralized exchanges will credit tokens based on different blockchains as its native token, similar to USDT on Tron and Ethereum are both credited as USDT. However, there are exceptions like WBTC, which has separate trading pairs like WBTC/BTC.   Closing Thoughts Wrapped tokens play a significant role in creating bridges between various blockchains. Furthermore, this interoperability helps provide DeFi and the broader crypto space with ample liquidity because networks can easily share the amount of capital locked in them.   Although wrapped tokens currently run on the centralized models, which require users to trust merchants and custodians, the future might present completely trustless options, helping the crypto space put the power back in users’ hands.   Find The Next Crypto Gem On KuCoin! Download KuCoin App>>> Sign up on KuCoin now>>> Follow us on Twitter>>> Join us on Telegram>>> Join the KuCoin Global Communities>>> Subscribe to YouTube Channel>>> Source: What Are Wrapped Tokens and How Do They Work?| KuCoin
What Could Boost ETH/USD!? Ethereum - The Merge Is Close! US: Shocking Unemployment Rate. In The Past Month S&P 500 And Nasdaq Increased

What Could Boost ETH/USD!? Ethereum - The Merge Is Close! US: Shocking Unemployment Rate. In The Past Month S&P 500 And Nasdaq Increased

Swissquote Bank Swissquote Bank 08.08.2022 10:29
Strong US jobs data revived the Federal Reserve (Fed) hawks on Friday. The US 10-year yield jumped, and the US dollar gained. Gold gave back a part of gains, and US stocks closed in the negative, although the three major US indices closed the first week of August in the positive. S&P 500   Now, the S&P500 is nearing an important technical level near 4180 level, the peak reached in June, and the short-term direction will mostly depend on this week’s inflation data, due Wednesday. Crude oil kicks off the week slightly upbeat, below the $90 level. News that China started mass testing in the Hainan beach resort comes as a warning that China is still not done with its fight against Covid.    Crude Oil Last week, OPEC increased the production outlook by a laughable, and a completely meaningless 100’000 barrels per day. That’s about 0.1% of the global oil output. But the recession fears and the slowing demand will likely continue driving the market; we could see a further downside pressure on oil prices. On corporate front, Coinbase, Disney, Honda, Coupang, and Rivian will be revealing their latest quarterly earnings. On political front, the US Senate passed a landmark tax, climate and health-care bill, which includes tax credits for EV purchases & green energy incentives. In cryptocurrencies, Ethereum prepares for its final test before the Merge update! Watch the full episode to find out more! 0:00 Intro 0:27 Confusingly strong NFP data 3:23 Why the markets rallied in July? 4:54 Inflation is key for direction 5:55 Crude oil under pressure 7:01 Earnings calendar 7:20 US Senate passes bill to support EV & green energy 8:33 Ethereum’s final test before Merge update Ipek Ozkardeskaya Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020. #US #NFP #Fed #hawks #USD #XAU #Gold #inflation #data #crude #oil #Coinbase #Honda #Coupang #Rivian #earnings #US #climate #bill #Tesla #green #energy #Ethereum #Merge #test #Bitcoin #SPX #Dow #Nasdaq #investing #trading #equities #stocks #cryptocurrencies #FX #bonds #markets #news #Swissquote #MarketTalk #marketanalysis #marketcommentary _____ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr _____ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 _____ Let's stay connected: LinkedIn: https://swq.ch/cH
The ETH/USD Pair Tried To Rebound After The Decline And Wallet Selector In Opera Crypto

Could ETH/USD Reach $2800!? Crypto Prices - What's The Difference Between Ethereum And Bitcoin?

InstaForex Analysis InstaForex Analysis 08.08.2022 13:13
Relevance up to 09:00 2022-08-09 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Ethereum remains the main conductor of liquidity in the cryptocurrency market. Unlike Bitcoin, Ethereum has been showing a steady upward movement that has been going on for five weeks in a row. At the same time, it is important to note that over the past three weeks, a negative downward trend in buying activity has formed. This is displayed on the body of a bullish candle, which closed at parity between buyers and sellers between August 1 and 7. It is likely that after a period of a long upward movement, the asset will need a correction.     Unlike the situation with BTC, Ethereum's on-chain metrics point to a strong upward trend foundation. The number of unique addresses in the asset network continues to grow, and the fall over the weekend was not significant. This suggests that retail investors are actively participating in trading on the ETH network. This is partly due to the general hype around the coin, but to a greater extent, it is the merit of the fallen commissions in the cryptocurrency network.     The main difference between ETH on-chain metrics and BTC metrics is that the trading activity in the network of the main altcoin remains at a high level. The growing number of unique addresses in the cryptocurrency network is underpinned by a steady increase in intraday trading volumes. Therefore, the upward trend of the ether is more stable and justified. This is exactly what we see on the weekly timeframe, where the price has been continuously rising for five weeks.     Another important signal for the continuation of the upward movement of Ethereum is the completion of the "cup and handle" pattern. The asset managed to break through the $1700 level and thus complete the formation of the pattern. If the current market situation persists, the potential for the upward movement of Ethereum reaches the level of $2800. However, there is a possibility that before the pattern is realized, ETH/USD will go to a local correction.     If you look at the technical indicators of the cryptocurrency on the daily chart, you can see that dangerous borders are being reached. The RSI index ended the previous trading week above the level of 60 and continues its upward movement. The stochastic oscillator reached 80 in the previous week. As of August 8, the metric formed another bullish crossover above 80, which is a sign of overheating of the Ethereum market.     Given the readings of the main metrics, we can conclude that the asset has reached or is approaching the overbought state. This usually happens when the metrics are above 80. However, in the case of Ethereum, it is also important to consider the asset's significantly increased inflation rate due to the influx of users and low transaction fees.     Considering the options for a possible correction in ETH/USD, several targets need to be identified. The first target is located at the level of $1600, and taking into account the minimum amount of time that the asset spent here, this milestone will be broken. The next target is the range of $1400–$1450, and judging by the long period of consolidation, this is where the main stage of the correction will end.     However, it is important to take into account external factors, including the dynamics of the movement of BTC, stock indices, and macroeconomic events. Taking this into account, it is not possible to suggest a probable level of completion of the correction. But there is no doubt that the ether needs a pause to maintain the current trend.   Read more: https://www.instaforex.eu/forex_analysis/318304
Ethereum's Merge Is Almost Here. What Is Ethereum Name Service (ENS)?

Altcoins: ETH/USD Chart Shows Impressive Levels! How Many Transaction Per Second Would Ethereum Handle?

InstaForex Analysis InstaForex Analysis 09.08.2022 12:39
Relevance up to 09:00 2022-08-10 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. With each passing week, Ethereum is getting closer and closer to the key mark of $2000. Despite a certain decrease in buying activity and the realization of most of the bullish potential, Ethereum continues to maintain leadership among the major cryptocurrencies. Over the past 24 hours, the asset has risen in price by 2%, and the weekly increase was 11%. At the same time, the ether approached the lower border of the $1800–$2100 resistance area. The asset will have a serious trade in this range, which will certainly lead to increased volatility and wandering between support and resistance zones.     The main catalyst for the upward movement of the altcoin is the institutional audience, actively fed by the representatives of the project with rosy promises. Ethereum co-founder Vitalik Buterin said that after the transition of the ether to the PoS algorithm, the popularity of crypto payments can grow significantly. The entrepreneur attributes this to the improvement in transaction per second throughput since the final Ethereum upgrade. Buterin is sure that the main altcoin can process more than 100,000 transactions per second. This was big news, which strengthened the position of Ethereum in the eyes of institutional players.     The current position of Bitcoin is also one of the reasons for the increased interest in Ethereum. The main cryptocurrency is stuck near the $24k level and cannot overcome it, also due to low trading volumes. Institutions are also well aware of the dependence of BTC on inflation and stock indices. The combination of these factors makes Bitcoin less attractive to big capital, as the asset does not have the fundamental support for a meaningful bullish rally. The transition to PoS is the very ETH argument that allows the asset to win the competition in terms of attractiveness from Bitcoin at the current stage.     The Ethereum update also provokes far-reaching and positive forecasts from the main representatives of the crypto industry. Former BitMEX CEO Arthur Hayes believes that by the end of the first quarter of 2023, ETH/USD will reach $5000. In addition to switching to PoS, Hayes highlights the Fed's monetary easing as the main benefit of the altcoin. The entrepreneur is confident that after the PoS update, Ethereum will temporarily take the place of Bitcoin in terms of investment attractiveness. Hence, the conclusion that easing monetary policy will have a better effect on ETH, not BTC.     To develop Hayes' idea, it is worth adding two important theses that allow us to argue that Ethereum will go up in the fall. The first factor concerns the US elections in November. The government will probably try to create an appropriate economic climate. The technical recession of the economy due to the hawkish policy of the Fed clearly does not apply here. The second factor is based on Fed Chairman Jerome Powell's statement that the rate will reach a neutral level by the end of 2022. Given these two factors, it is likely that following the final migration of the network and the transition of dApps to PoS algorithms, Ethereum will receive investment fuel from the US government.     In technical terms, the asset took a break after an unsuccessful assault on $1800. The bears defended the level and pushed the buyers to the nearest support at $1750. The RSI index and the stochastic oscillator are becoming flat, which indicates the need for local consolidation. There is also pressure coming from Bitcoin, which failed its $24k assault. The combination of these factors indicates that the next stage of strong growth will begin after the publication of the CPI report. Until then, the asset is likely to continue consolidating.   Read more: https://www.instaforex.eu/forex_analysis/318420
Ethereum: What Did Help ETH/USD To rise? We're Talking About A 12% Rise!

Ethereum: What Did Help ETH/USD To rise? We're Talking About A 12% Rise!

InstaForex Analysis InstaForex Analysis 11.08.2022 13:14
Relevance up to 09:00 2022-08-12 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. As expected, Ethereum became the primary beneficiary of fundamental positive news. The cryptocurrency took advantage of the general euphoria and rose by 12% over the past day. The weekly increase in ETH/USD quotes reached 15.5%. The main altcoin finally consolidated above the $1800 level and rapidly jumped to the $1900 mark. It is likely that if the current bullish momentum continues, ETH will be able to reach the $2000 level for the first time since May 2022.     Ethereum continues its upward movement, taking advantage of positive inflation statistics, which fell below expectations to 8.5%. A gradual decrease in inflation in annual terms indicates the likelihood of curtailing aggressive monetary policy as early as autumn 2022. It is a positive signal for the cryptocurrency market since, after tightening, a pullback to neutral positions will begin. This process will facilitate access to liquidity and, accordingly, will help the birth of a bullish rally. However, in most cases, the main benefit from monetary easing is given to Bitcoin.     In the current market situation, everything has changed dramatically. Bitcoin is fading into the background, and Ethereum is becoming the main driving force behind the cryptocurrency market. The main altcoin has been the main investment target of large funds over the past months. This is due to the transition of the coin to the PoS algorithm and the positive changes that will follow. In other words, Ethereum has fundamental growth reasons that provide continued investment interest. Bitcoin cannot boast of this, and therefore grows exclusively on positive fundamental news.     The growing interest in Ethereum can be seen in the level of Bitcoin dominance in the market. The indicator is in a downward trend, indicating the interest of investors in other digital coins. The indicator began to seriously decline at the end of July and peaked in August. During this period, the informational hype around the transition of Ethereum to PoS reached its maximum. Over the same period, the level of ETH dominance has grown significantly and, as of August 11, reached 20.24%. This is direct evidence of the flow of investments from BTC to ETH.     It also indirectly indicates that the main altcoin will become the primary investment target of the market in the coming weeks. Ethereum received macroeconomic positives in addition to the upcoming update, which will also affect the bullish movement of the cryptocurrency price. The largest issuers of stablecoins, Tether and Circle, have declared full support for the transition of ETH to the Proof-of-Stake protocol. There are also several testnet mergers planned for August, including the successful migration of Goerli to PoS, which should reinforce the fundamental positive for ETH.     In technical terms, the asset has again reached the overbought level. The stochastic oscillator formed and realized a bullish crossover, due to which the indicator reached the level of 100. The relative strength index came close to 80 and maintains an upward direction, which indicates an increase in buying activity. Ethereum entered a strong resistance area for the first time, and you should not expect its bullish breakdown on the first try. Most likely, we are waiting for a local correction and a short period of consolidation before a full-fledged assault on $2000.   Read more: https://www.instaforex.eu/forex_analysis/318679
S&P 500 Gained 2.1% Yesterday, Bitcoin Increased By Over 3%, Nasdaq Added 2.9% - Yesterday's US CPI Print Helped Various Assets

S&P 500 Gained 2.1% Yesterday, Bitcoin Increased By Over 3%, Nasdaq Added 2.9% - Yesterday's US CPI Print Helped Various Assets

Daniel Kostecki Daniel Kostecki 11.08.2022 14:11
Yesterday, the US inflation report was released, which came in at 8.5% in July. The market did not expect such a large drop, estimating a level of 8.7% before the data was released. The stock markets reacted positively, and the major equity indexes rose significantly. The S&P 500 gained more than 2.1% during yesterday's session and the Nasdaq almost 2.9%. Bitcoin And Ethereum Cryptocurrencies, however, reacted most noticeably - on the Conotoxia MT5 platform, Bitcoin gained around 3.3% yesterday. And today, it continues its rise, breaking through the local peak of $2,485 on 30 August 2022. At 11.30 am GMT+3, the price of BTC is $24,471. The ETH price has risen even more strongly after a surprisingly low inflation reading. Ethereum gained more than 8.5% yesterday, and at 11.30 GMT+3, it is already up more than 2.3%. The token already costs $1,887 - its highest recorded level since 6 June this year. Reaction The market's reaction has a lot to do with expectations of interest rate hikes, which fell after the US inflation reading. However, it is still a long way from calling it a permanent decline. Inflation is still at its highest level in decades and the economy is operating in an environment of negative real interest rates. According to CME Group data, the Federal Reserve (Fed) is likely to push rates even higher. Currently, the Fed Funds Rate is at just 2.5 pp, the level before the Covid pandemic. The CME Group estimates that we will still reach the 3.25 pp level this year, and peak in 2023 at 3.5 pp. However, as for the 2023 projections. The Federal Open Market Committee (FOMC), which decides them, is already much less unanimous and a lot may still depend on the information coming out of the economy. US Economy - Most metrics - such as the yield curve, consumer sentiment, and economic growth - point to a recession Information on its state in the US is not pleasing. Most metrics - such as the yield curve, consumer sentiment, and economic growth - point to a recession. The labour market, which is surprisingly strong at the moment, is reacting last and is likely to become further evidence of a crisis soon. The cryptocurrency market has never been in such a severe recession, so it is hard to determine exactly how it will behave. For now, the data shows a relatively high level of correlation between it and the stock market. This is not good news, as the latter almost always loses in a crash. Polygon (MATIC) Polygon (MATIC) is an Ethereum token that powers the Polygon network, which is a protocol for building Ethereum-compatible blockchains and decentralised applications (DApps). Polygon is also referred to as a 2nd level (2nd level) solution to help Ethereum to scale faster, by increasing the efficiency of the network. On Wednesday, Polygon shared data on user growth. Their total number in July was 11,800, gaining 47.5% since March and up 400% year-to-date. Interestingly, according to the project, "74% of teams integrated exclusively on Polygon, while 26% deployed on both Polygon and Ethereum,". This shows a very high level of confidence in the new technology, which can be the new foundation for the development of DApps. Since the local low on 19 July this year. MATIC has risen almost 172%. Trading on CFDs is provided by Conotoxia Ltd. (CySEC no. 336/17). CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82.59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Ethereum’s Merge Is The Most Influential Events, The Change In Verifies The Transactions

ETH Steals The Show! Ethereum Price (ETH/USD) Gradually Moves To $2K Level. BlackRock Capital Has Started A BTC Fund!

InstaForex Analysis InstaForex Analysis 12.08.2022 14:18
Relevance up to 10:00 2022-08-13 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Ethereum is getting closer to the key resistance level of $2,000 every day. It is important to reach this psychological level during the ongoing uptrend. Institutional investors add fuel to the growth. Their inflow has increased significantly amid the transition of ETH to the Proof-of-Stake algorithm and the recent news.     The ETH/USD pair has fixed above $1,800 and formed a strong support area near that level. After forming the bullish engulfing pattern on August 10, the asset dashed to the level of $1,950 but rolled back because of the bearish activity. As a result, bulls were forced to retreat and the candlestick acquired a long upper shadow. Nevertheless, ETH is holding above $1,850, and as long as this level is not broken through, the asset may reach the area of $1,900-$2,000.     Eventually, ETH formed a bullish large-scale cup-and-handle pattern. This pattern may drag the price to the area of $2,700-$2,800. Taking into account the presence of the fundamental positive background and the successful mergers of the test ether networks, it is likely that the cup and handle pattern will be worked out by the middle of September. With this in mind, we can conclude that it is Ethereum that will be the main driving force of the crypto market during the next few months.     As for the technical picture, the asset started a consolidation after failing to touch the area of $1,950-$2,000. The RSI is moving near 70, indicating high buying activity. However, after testing 70, the metric has flattened. The stochastic oscillator managed to break through the level of 70 and enter the overbought zone. This means the asset is overbought and this state will increase with the positive sentiment in the market. The MACD indicator has gained an upward direction after a long flat period. As a whole, from the technical point of view, ether demonstrates the demand but prepares for a correction.     Most likely, this is where the market will face the first full-fledged correction due to the long upward movement. On the weekly chart, the ETH/USD pair is likely to close the sixth bullish week. If we compare it to the cryptocurrency's recent uptrends, we see that for the most part, the altcoin goes for a correction after forming six or seven green candlesticks in a row. Ethereum is close to the sixth one and we are likely to see a correction already next week.     Dependence on Bitcoin may hamper the cryptocurrency's uptrend. In recent months, the level of BTC dominance was falling, while ETH, on the contrary, was growing. Mostly, it was due to the Fed policy and the presence of fundamental reasons for the growth of ether. It is likely that soon the situation will change since the rate of inflation began to fall.     Investments in BTC will gradually begin to increase, which will be a deterrent to the growth of ETH. Among the latest news related to these processes is the announcement of the BlackRock Capital fund. The largest $10 trillion asset management company has launched a new BTC fund for its clients. In the medium to long term, this bodes well for a significant increase in institutional investments in Bitcoin.     All of these factors can negatively contribute to the future growth of Ethereum, but they have no fundamental effect. With this in mind, Ethereum is very likely to remain the main cryptocurrency in the coming months. However, in the short term, we should expect a correction, which the altcoin needs after a prolonged six-week rally.   Read more: https://www.instaforex.eu/forex_analysis/318802
Ethereum's Merge Is Almost Here. What Is Ethereum Name Service (ENS)?

When Is The Ethereum Merge Introduced? This Update Is A Crypto Market Changer!

Daniel Kostecki Daniel Kostecki 12.08.2022 14:58
How will the upcoming Ethereum Merge affect linked tokens?  After long years of preparation, Ethereum will soon become a token operating fully on the Proof-of-stake (PoS) blockchain. So far, no delays are expected for the Merge, which is scheduled for 19 September. In addition to ETH, many other tokens are gaining in utility and price through the upcoming transition, which will enable them to be more widely and quickly adopted. Ethereum's plan is to replace ETH miners with validators, a kind of 'node' of the proof-of-stake system. They will be responsible for storing data, processing transactions and adding more chain blocks. Each validator is expected to hold a min. 32 ETH - at the current price, this is approximately $60600. Lido Dao  An important part of this network is to be the Lido DAO, which is the main project offering staking services within Merge. So far, Lido has funded ETH 2.0 with approximately 4.15 million ETH. Since the local bottom on 18 June 2022. LDO has gained almost 530%.    Source: Glassnode Accounting for almost half of the staking on ETH, the Lido is an important part of the chain with great growth potential if the trend in this service adoption continues. However, currently after surging 500%, the price may be too high and a great deal of caution is advised for bulls.  Ethereum Classic (ETC) Despite the transformation, Ethereum Classic (ETC) is still an important part of the crypto scene. The token was created as a result of a split of the Ethereum blockchain in 2016 and has most of the functionality of the current ETH, but is slower in handling transfers and less flexible in creating DApps. However, it still plays a significant role and is considered by traditionalists to be a combination of the best features of Bitcoin and ETH.  The token through its reliance on mining provides a natural refuge for miners who will be excluded by the Ethereum blockchain change. This is probably why it has gained more than 215% in recent weeks since its local low on 14 July.  The influx of miners is bound to have an impact on the increased supply of ETC in the short to medium term, which typically drives the price down. However, with a maximum of 210.7 million coins to be mined, ETC is deflationary in nature, and the market seems to be pricing that increased mining will translate into a faster increase in the token's price due to limited future supply. ETC, like BTC, mainly has been used as a store of value. Merge will have an impact on the entire crypto world. It surpasses the ETH split of 2016 by its scale and points to new areas such as proof-of-stake, energy efficiency and lower commissions. The transformation in addition to the above-mentioned LDO, ETC affects most ETH-related projects giving some new significance.   
Crypto: Ethereum (ETH) Stops Its Development After The Drop?

Crypto: (ETH) Ethereum's Success. Better Than (BTC) Bitcoin?

Saxo Bank Saxo Bank 16.08.2022 09:01
Summary:  The last test of the highly anticipated Ethereum merge was a success. The real merge has now been scheduled for either the 15th or 16th of September. Whereas the latter was a success, Coinbase’s Q2 result was arguably not a success compared to the market’s consensus. The Ethereum merge has been scheduled following the final test On Thursday, the final public test of the highly anticipated Ethereum merge occurred successfully as the test network known as Görli successfully adopted a proof-of-stake framework. One day later, the developers of Ethereum announced that the real merge is likely to take place on either the 15th or 16th of September next month. This is in line with what we estimated earlier this month, assigning a 95% chance of a merge in September in case Görli occurred flawlessly, as it did. This means that one of the most significant events in the history of crypto is only around a month away. It seems that traders are likewise anticipating the merge. Ethereum hit a local high against Bitcoin since January of 0.0816 (ETHBTC) this weekend alongside hitting a new 3-month high in dollar terms of over $2,000. This is rather remarkable because Ethereum has previously decreased against Bitcoin during bear markets with Bitcoin behaving somewhat as a safe haven within the highly speculative crypto market. At present, the pair trades at 0.0793. Coinbase releases Q2 2022 result On Tuesday, the largest US-based crypto exchange NASDAQ-listed Coinbase reported its second quarter result. The result was, however, not encouraging for shareholders. The company’s revenue declined by nearly 64% compared to the same quarter last year, while the company noted a loss accurately exceeding $1bn. Yet, $377mn of that was caused by depreciating its crypto holdings, with the latter taking a severe hit during the quarter. Coinbase laid off around 18% of its workforce in Q2 while enforcing a hiring freeze. The major issue for Coinbase in Q2 and not least going forward is the fact that its retail trading has decreased substantially, although its volume from institutional clients is fairly more stable. The challenge with the latter is that Coinbase earns significantly less on institutional rather than retail trading. As a consequence, institutional clients’ volume is over three times as much but pays overall 15 times less in trading fees than retail clients. So, unless retail trading surges, the fundamental of Coinbase is likely not improving. Making matters worse, Coinbase is encountering further competition on retail trading from, for instance, Robinhood, potentially over time pushing Coinbase’s high margins on retail trading down. Source: Coinbase Global, Inc. Source: Coinbase Global, Inc. Alongside 21 other companies, Coinbase is a part of our Crypto & Blockchain equity basket for investors wanting to get exposure to the crypto market through crypto-related companies (the basket should not be considered as a trade recommendation, only as an inspirational list). Bitcoin/USD - Source: Saxo Group Ethereum/USD - Source: Saxo Group Source: Crypto Weekly: Ethereum, it is time to merge
Ethereum's Merge Is Almost Here. What Is Ethereum Name Service (ENS)?

Ethereum Price (ETH/USD) - Technical Analysis | InstaForex

InstaForex Analysis InstaForex Analysis 16.08.2022 10:19
Relevance up to 08:00 2022-08-17 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Crypto Industry News: On August 11, 2022, Ethereum developers notified the community during the Consensus Layer Call live stream that the Merge update is likely to occur between September 15-16. The next day, Ethereum co-founder Vitalik Buterin confirmed that The Merge is likely to take place on September 15th. Since then, everyone has been asking where the current Ethereum hashrate will go after the update goes live. There has always been a lot of speculation that most of the ETH hashrates will be redirected to Ethereum Classic (ETC), however this is not the only opinion. There was one significant drop in ETH network hashrate that started on June 6. Statistics show that on that day 1.23 petahashas per second (PH /s) or 1,230 terahashas per second (TH /s) was dedicated to the Ethereum network. The data shows that around 230 TH /s have left the network, but none of the chains supporting Ethash have recorded hashrate accumulation on such a scale. Technical Market Outlook: The ETH/USD pair has hit the level of $1,990, which is the 100% Fibonacci extension of the wave A. The local high was made at the level of $2,029, nevertheless the upside is limited due to the key technical resistance located at the level of $2,040. The momentum had violated the level of fifty already and it points to the south indicating a strong bearish activity. The nearest technical resistance is seen at $1,915 and must be clearly violated in order to continue the up move. The key short-term technical support is located lower, between the levels of $1,785 - $1,756.     Weekly Pivot Points: WR3 - $2,132 WR2 - $2,042 WR1 - $1,986 Weekly Pivot - $1,953 WS1 - $1,897 WS2 - $1,864 WS3 - $1,775 Trading Outlook: The down trend on the Ethereum might have been terminated at the level of $880. So far every bounce and attempt to rally is being used to sell Ethereum for a better price by the market participants, so the bearish pressure is still high. The next key psychological level for bulls is located at $2,000 and needs to be clearly violated before any extension higher.   Read more: https://www.instaforex.eu/forex_analysis/288599
Altcoins: Ethereum Price (ETH/USD) Has Declined By Over 13% Since The Transition

Crypto: Ethereum (ETH) Is Getting Closer And Closer To The Merge!

Crypto.com Accelerate the... Crypto.com Accelerate the... 16.08.2022 11:47
ETH options open interest at a high as traders pile on leveraged bets. Asset managers’ net-long position in CME BTC futures climbing. ETH enters short-term overbought territory Chart of the Week: In the Mood for Leveraged Bets ETH options open interest has reached a new high at around US$8B. Options are a leveraged play on ETH and traders are likely piling up the bets in anticipation of the mainnet merge in September. Last week, the final testnet merge, Goerli, was successfully completed, giving traders an extra confidence boost.     Fund Flow Tracker No significant movements in aggregated exchange balances for both BTC and ETH over the past week.         Derivatives Pulse Implied vols and skews (puts minus calls) are subdued. 1-week implied vol currently stands at 58.7% (vs. 63.1% a week ago) and 84.8% (vs. 91.9% a week ago) for BTC and ETH, respectively. Put-call ratios remain at low levels.                     Perpetual futures funding rates remain mainly in positive territory for both BTC and ETH over the past week.         Asset managers’ net-long position in CME Bitcoin futures continues to crawl up, and leveraged traders’ net-short position keeps on reducing. Other reportables’ (which includes corporate treasuries) net-long position has flipped to net-short.     Leveraged traders are typically hedge funds and various types of money managers, including commodity trading advisors and commodity pool operators. The traders may be engaged in managing and conducting proprietary futures trading, and trading on behalf of speculative clients. The asset manager category consists of institutional investors, including pension funds, endowments, insurance companies, mutual funds, and those portfolio/investment managers whose clients are predominantly institutional. The dealer category consists of participants typically described as the “sell-side” of the market. These include large banks and dealers in securities, swaps, and other derivatives. The other reportable category consists of traders mostly using markets to hedge business risk, and includes amongst others corporate treasuries. Technically Speaking BTC and ETH both have momentum in their sails, reclaiming key levels US$24K and US$2K, respectively. However, the surge has driven ETH into short-term overbought territory based on the 14-day Relative Strength Indicator (RSI), with BTC closing in as well.     Price Movements         News Highlights Ethereum’s final testnet merge on Goerli was launched. Crypto.com obtains Electronic Financial Transactions Act and Virtual Asset Service Provider registration in South Korea by acquiring PnLink Co., Ltd and OK-BIT Co., Ltd. Coinbase’s credit rating gets cut by S&P to BB from BB+. BlackRock launches a spot Bitcoin private trust for U.S. institutional clients. Catalyst Calendar             Disclaimer: The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners. Author Research and Insights Team Get fresh market updates delivered straight to your inbox: Subscribe to newsletters    Be the first to hear about new insights: Follow us on Twitter Tags CRYPTO CRYPTO RESEARCH CRYPTOCURRENCIES MARKET PULSE MARKET UPDATES
"Ethereum remains highly attractive for investors, and interest in it will grow even more after the move to PoS"

"Ethereum remains highly attractive for investors, and interest in it will grow even more after the move to PoS"

Alex Kuptsikevich Alex Kuptsikevich 16.08.2022 10:21
Market picture Bitcoin is losing 3.7% in the past 24 hours, falling to $23.9K%. Ethereum is down 5.2% to $1870. Other top altcoins are down 2% (BNB) to 6.4% (Solana). Total capitalisation of the crypto market The total capitalisation of the crypto market, according to CoinMarketCap, fell 3.6% to $1.14 trillion overnight. Bitcoin on Monday failed to claw its way above $25K, after which short-term buyers rushed to lock in profits and returned the price to the $24K area. The pressure on BTC was exerted by the rising US dollar amid weak data from China, indicating a slowdown in the economy. However, so far, Bitcoin's decline is more appropriately seen as a corrective pullback within an uptrend. It would only be appropriate to discuss a break in this trend if it moves below $22.5K-23.0K. Sluggish and uncertain growth at the first stages is typical after a strong sell-off that prevailed since last October. News background Notably, the positive dynamics of the crypto market last week coincided with a net $17 million outflow, the first net withdrawal in seven weeks, of which $21 million came from investments in BTC. At the same time, investments in bitcoin short funds increased by $2.6 million. The Wall Street Journal reports that US pension funds remain optimistic about investing in cryptocurrencies, despite a significant pullback in prices and a wave of defaults by crypto companies. Raul Pal -- Real Vision CEO -- believes that Ethereum remains highly attractive for investors, and interest in it will grow even more after the move to PoS. Michael Saylor: BTC is not suitable for everyone, "you should invest for at least four years. Ideally, it's an intergenerational transfer of wealth." Michael Saylor, former head of MicroStrategy, called the company's decision to buy bitcoin a good one. He said, BTC is not suitable for everyone, "you should invest for at least four years. Ideally, it's an intergenerational transfer of wealth."
Turning DAI Into A Free-floating Asset, The Bellatrix Hard Fork Was Activated

Crypto: Acala Was Attacked. Exploit Made aUSD Price (Acala's Stablecoin) To Decrease

Crypto.com Accelerate the... Crypto.com Accelerate the... 17.08.2022 13:19
Acala Network suffered security breach, aUSD depegged. Curve Finance’s website hacked. Crypto users were hit with “dust attack” after being sent a small amount of ETH from Tornado Cash. Weekly DeFi Index This week’s price index dropped by -7.26%, while volume and volatility indices were positive at +11.26% and +3.16%, respectively.     DeFi Index Tokens     News Highlight Acala, the “DeFi hub” of the Polkadot network, suffered a major security breach. The exploit allowed the attackers to mint an additional 1.2 billion aUSD, the native stablecoin of the network, in its iBTC/aUSD liquidity pool. Following the exploit, aUSD depegged and plunged to a low of US$0.009 on 14 August. In response to the incident, Acala passed a proposal to burn US$1.28 billion aUSD to regain the peg. At the time of writing, aUSD is trading around US$0.88.  Decentralised exchange Curve Finance experienced a frontend attack on 10 August. Hackers compromised the Curve website to redirect unwitting users or their transactions to a malicious destination. The thieves made off with US$570,000 of ETH and part of the stolen funds were frozen. DeFi protocols banned users following OFAC sanctions on Tornado Cash. However, this derives a so-called ‘dust attack’. Crypto users reported being blocked by major DeFi protocols after attackers sent a small amount of Ether (usually 0.01 ETH) via Tornado Cash. More than 600 addresses were hit with the same 0.01 ETH ($19.25) ‘dust attack’, including crypto exchanges and public figures. Ethereum’s third and final testnet merge was completed on Goerli. This is one step closer to Ethereum’s mainnet upgrade, which is expected to happen this year. DEX Protocols Metrics     Lending Protocols Metrics     Charts on Layer 2 Projects Overall, the L2 market saw +6.99% growth over the past week. Optimistic rollup projects rose +4.15% and zero-knowledge rollup projects dropped -4.61%. Sidechain projects gained traction with +18.02% growth, mainly driven by Polygon (+20.50%). Ethereum’s TVL rose +1.17%.     The TVL for almost all of optimistic rollup’s projects were negative last week except Arbitrum (+7.75%) and Optimism (+0.04%).     Although the overall TVL of ZK rollups fell, StarkNet was under the spotlight as its TVL grew +14.07%.     Further Reading Arbitrum launches gaming and social App-focused layer 2 chain Arbitrum Nova DeFi protocols Aave, Uniswap, Balancer, ban users following OFAC sanctions on Tornado Cash Tornado Cash DAO shuts down as it “can’t fight the US” and keep contributors safe BlueBenx fires employees, halts funds withdrawal citing $32M hack Interlay launches Bitcoin-backed stablecoin iBTC on Polkadot network DeFi firms Iron Bank, Yearn Finance join layer 2 protocol Optimism Cross-chain bridge RenBridge laundered $540M in hacking proceeds: Elliptic Authors Research and Insights Team Get fresh market updates delivered straight to your inbox: Subscribe to newsletters    Be the first to hear about new insights: Follow us on Twitter Tags CRYPTO RESEARCH CRYPTOCURRENCIES DEFI L1 & L2 Source: DeFi & L1L2 (Week 32, 10/08/2022 – 16/08/2022) (crypto.com)
Crypto: Livepeer. Video Protocol Built On Ethereum Blockchain. Is It Worth It?

Crypto: Livepeer. Video Protocol Built On Ethereum Blockchain. Is It Worth It?

Binance Academy Binance Academy 17.08.2022 13:50
TL;DR   Livepeer is a decentralized video protocol built on the Ethereum blockchain. It was designed for anyone to seamlessly integrate video content into applications in a decentralized manner and at a fraction of the cost of traditional solutions. Decentralization of video processing is accomplished by distributing the transcoding process to a network of node operators. Transcoding is an essential step in ensuring smooth delivery of video content to end users. It involves taking raw video files and converting them to the optimal state for each end user, based on factors such as device screen size or internet connection. Livepeer processes video content reliably and inexpensively using blockchain technology that utilizes game theory, cryptoeconomic incentives, and smart contracts to foster positive stakeholder interactions. Its native asset, the Livepeer token (LPT), is used to coordinate and distribute video processing tasks among network participants securely and reliably.    Introduction   With the increasing reliance on social media, especially amid the recent pandemic, as well as the massive growth of the creator economy, video-related content used more than 82% of the internet’s bandwidth in 2021.  The Livepeer network, powered by thousands of distributed nodes, gives video app developers and creators access to a secure, high-quality, affordable encoding architecture without a hefty price tag. Since its inception in 2017, the Livepeer network has processed over 150 million minutes of video.   How does Livepeer work?   Livepeer, built on Ethereum, is essentially a network that connects anyone seeking video processing with suppliers that provide this service. It uses its native token, LPT, to incentivize network participants to keep this video transcoding process reliable, secure, and affordable compared to current centralized solutions. There are two main stakeholders in the Livepeer network: orchestrators and delegators.  Orchestrators Anyone who owns video mining equipment can stake their LPT and perform video processing work on the Livepeer network. In exchange for providing this service, they receive a share of the video processing fee in the form of LPT and ETH. These network participants are called orchestrators.  Delegators Those who don’t have access to video mining tools or video processing experience can still participate in the network by delegating or assigning their LPT to a node operator with the right tools and expertise to process video via the Livepeer Explorer. These network participants are called delegators.   What is LPT? The network’s native asset, the Livepeer token (LPT), is an ERC-20 token used to provide security, distribute video processing tasks among network participants, and incentivize their active participation in the various roles on the Livepeer network. The more LPT tokens are committed to the network’s functioning, the more stable, secure, and robust it becomes.   Orchestrators are allocated work according to the amount of LPT they have staked — their own or those of delegators — along with their geographical location and reliability. Since more delegated tokens lead to more work, and more work equals more rewards, orchestrators compete to attract as many delegators as possible. At the end of each round, i.e. end of every day, the Livepeer protocol mints new Livepeer tokens according to a designated inflation rate. Livepeer is a “stake-based” protocol, which means rewards are allocated to each participating user in proportion to their contribution. Participants who have been active in a given round — either by running nodes or by staking tokens — receive a proportionate amount of the issued reward. Those who did not actively participate in a given round do not receive these rewards.  Orchestrators also earn an added benefit: they receive a portion of their delegators’ rewards as a commission for running the decentralized infrastructure.  With this system, active participants can grow their stake in the network. Meanwhile, transcoding rights of inactive users shrink with every round in which they do not participate. In other words, a larger LPT stake results in more allocated work, ultimately leading to more rewards.  The inflation rate used to determine the size of the issued rewards also motivates users to be active. The percentage of new LPT in each compensation round is determined by how many total LPT are committed to the network’s successful functioning. The higher this proportion, the lower the inflation rate and the more value existing tokens will retain. Thus, token holders are naturally motivated to stake more to earn more.   How to buy LPT on Binance?   You can buy LPT on cryptocurrency exchanges like Binance.  1. Log in to your Binance account and go to [Trade] -> [Spot].  2. Type “LPT” on the search bar to see the available trading pairs. We will use LPT/BUSD as an example. 3. Go to the [Spot] box and enter the amount of LPT you want to buy. In this example, we will use a Market order. Click [Buy LPT] to confirm your order, and the purchased LPT will be credited to your Spot Wallet. Closing thoughts Livepeer has designed a solution to delegate video processing tasks to reliable parties. With a  decentralized video protocol, Web3 projects and companies can avoid high, arbitrary video processing fees and censorship to provide better video content for their audiences.   Source: What Is Livepeer (LPT)?
The Sandbox Is Available On GitHub, The Norway's CBDC  Based On Ethereum Technology

ETH - The New King Of Crypto World? Ethereum Price (USD) - Technical Analysis - 17/08/22

InstaForex Analysis InstaForex Analysis 17.08.2022 14:46
Relevance up to 10:00 2022-08-18 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Crypto Industry News: The ICO Ethereum whale address carries 145,000 ETH to various accounts in the weeks before Merge Such a large number of ETH carried over just a month before the merge sparked the curiosity of the crypto community. Some say it is for selling, while others say it is for betting. The Ethereum whale wallet, which participated in the initial coin offering (ICO) and acquired 150,000 Etherum (ETH) in 2014, was reactivated on August 14 after three years of sleep. From its address, the whale shifted 145,000 ETH to multiple wallets as Etherum's price soared to a new three-month high of over $ 2,000. The transfers were made in batches of 5,000 ETH, with several transfers of over 10,000 ETH. The total value of Etherum transferred is over $ 280 million and the wallet address currently has a balance of 0.107 ETH. Technical Market Outlook: The ETH/USD pair has hit the level of $1,990, which is the 100% Fibonacci extension of the wave A and a perfect target for the wave C of the overall ABC corrective cycle. The local high was made at the level of $2,029, nevertheless the upside is limited due to the key technical resistance located at the level of $2,040. The momentum had violated the level of fifty already and it points to the south indicating a strong bearish activity. The nearest technical resistance is seen at $1,915 and must be clearly violated in order to continue the up move. The key short-term technical support is located lower, between the levels of $1,785 - $1,756.     Weekly Pivot Points: WR3 - $2,132 WR2 - $2,042 WR1 - $1,986 Weekly Pivot - $1,953 WS1 - $1,897 WS2 - $1,864 WS3 - $1,775 Trading Outlook: The down trend on the Ethereum might have been terminated at the level of $880. So far every bounce and attempt to rally is being used to sell Ethereum for a better price by the market participants, so the bearish pressure is still high. The next key psychological level for bulls is located at $2,000 and needs to be clearly violated before any extension higher.   Read more: https://www.instaforex.eu/forex_analysis/288843
Ethereum's Merge Is Almost Here. What Is Ethereum Name Service (ENS)?

Crypto: Ethereum Price - Is It Correction Time!?

InstaForex Analysis InstaForex Analysis 17.08.2022 15:30
Relevance up to 10:00 2022-08-18 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Ethereum ended its upward spurt, failing to retest $2,000. As a result, the price began to decline and hit a support area near the level of $1,900. At the same time, the overall situation in the market remains tense due to low liquidity and trading activity. On top of that, there were alarming rumors about ETH's transition to the PoS and the US sanctions policy. These factors, as well as altcoin's dependence on Bitcoin, give rise to opinions that ether is about to start a correction.     From the technical point of view, the asset remains bullish and is likely to make another attempt to break through $2,000. The RSI resumed upward movement after a brief consolidation. The stochastic oscillator is also preparing to form a bullish crossover. Technical metrics indicate that buying activity remains high, and fundamental reasons for growth are pulling the price upwards. At the same time, the MACD continues to move flat, which indicates that there are no significant bullish signals in the long term.     Another important problem with Ethereum's technical metrics is their positioning. The stochastic oscillator is moving near 75 and the relative strength index is at 65. These are bullish signals, indicating continued buying sentiment. However, the indicators have been above 60 since July 25, and the metrics have moved into the overbought territory several times during that period. This is normal for an asset that is one step away from an important update but it also indicates that it is overheated. Recent evidence of record ETH inflation due to low online fees confirms that the market is overheated.     If we evaluate the main onchain metrics reflecting the number of active addresses and the volume of daily trading, we can conclude that there are no clear signs of positive factors. We see a correlation between the growth of the number of addresses and trading volumes, but the co-dependence manifests itself impulsively rather than consistently. This is also a normal situation for an asset that is one step away from an important merge. Fundamentally, it suggests that interest in ether, though high, is not consistent. This increases volatility, reduces institutional interest, and negatively affects the formation of a long-term trend.     In addition, more than 66% of ETH validators on PoS are going to comply with US sanctions and block illegal transactions. There would be no problem if the majority of validators supported this initiative, but we see more than 35% are disagreeing with this policy. As a result, Ethereum's move to PoS could create a conflict with far-reaching consequences. There is no doubt that the situation will be closely monitored by institutional investors, for whom validation and transaction security issues are paramount.     Overall, the PoS update will be revolutionary and will greatly strengthen Ethereum's position in the market. Ethereum issuance will drop from approximately 13,000 coins per day to 2,000-3,000. In this respect, the asset will approach Bitcoin in terms of its capabilities and attractiveness. The merger is exactly one month away, and the altcoin needs a recovery correction to conduct a consolidation period before the main Merge update starts. At this stage, the ether retains bullish potential, high but erratic investor interest, and is preparing for another $2,000 retest.   Read more: https://www.instaforex.eu/forex_analysis/319150
The Sandbox Is Available On GitHub, The Norway's CBDC  Based On Ethereum Technology

Crypto: Ethereum Foundation Reminds Of Important Facts About The Merge! | 1 ETH To USD - Technical Analysis (18/08/22)

InstaForex Analysis InstaForex Analysis 18.08.2022 12:11
Relevance up to 10:00 2022-08-19 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Crypto Industry News: The Ethereum Foundation wants the public and ETH investors to be aware that The Merge is a transition from Proof-of-Work (PoW) to Proof-of-Stake (PoS), not a reduction in gas charges: "The gas charges are the product of the network's demand [for services] in relation to its capacity," the organization said. The foundation explains that it is about changing the algorithm to PoS, which, however, "does not significantly change any parameters that directly affect the network capacity." While the transaction fees on the Ethereum network will not change after The Merge, users who want a lower fee for transfers will be able to take advantage of Tier 2 scaling solutions or wait for further updates in the Ethereum chain. After The Merge, the Ethereum Foundation will roll out The Surge, The Verge, The Purge and finally The Splurge. And it is the latter that aims to improve scaling with sharding technology. Technical Market Outlook: The ETH/USD pair has fell out of the channel around the level of $1,880 and is testing the technical support located at $1,819. The momentum had violated the level of fifty already and it points to the south indicating a strong bearish activity. The nearest technical resistance is seen at $1,915 and must be clearly violated in order to continue the up move. The key short-term technical support is located lower, between the levels of $1,785 - $1,756.     Weekly Pivot Points: WR3 - $2,132 WR2 - $2,042 WR1 - $1,986 Weekly Pivot - $1,953 WS1 - $1,897 WS2 - $1,864 WS3 - $1,775 Trading Outlook: The down trend on the Ethereum might have been terminated at the level of $880. So far every bounce and attempt to rally is being used to sell Ethereum for a better price by the market participants, so the bearish pressure is still high. The next key psychological level for bulls is located at $2,000 and needs to be clearly violated before any extension higher.   Read more: https://www.instaforex.eu/forex_analysis/289046
Crypto: Shocking Forecast! Could (ETH) Ethereum Price Fall After The Merge!?

Crypto: Shocking Forecast! Could (ETH) Ethereum Price Fall After The Merge!?

Alex Kuptsikevich Alex Kuptsikevich 19.08.2022 10:03
Market picture Bitcoin was almost flat on Thursday but started Friday with a 6% plunge, momentarily dropping to $21.5K. Ethereum is losing 4.5% overnight to $1760. Leading altcoins are down 7% (XRP) to 12% (Solana). Total crypto market capitalisation is down 4.2% to $1.07 trillion, according to CoinMarketCap. Bitcoin's fall below $22.5K is a formal break of the upward corridor of the past two months, as a sequence of increasingly higher local lows is broken. Currently, BTCUSD is testing the 50-day moving average, which could act as an uptrend indicator. The current dip has made the fight for the 200-week average, which is now near $23K, relevant again. Closing the week below this level risks triggering another round of liquidation. Altcoins are losing even more significantly, reflecting a dramatic shift in enthusiast sentiment from cautious buying to simultaneously locking in quick profits across a wide range of coins. Additionally, the weakening of global equity indices and the deteriorating macroeconomic backdrop is worrying factor. At the same time, the crypto market is no longer oversold but not yet attractive to long-term investors. We believe we will see similar sharp market movements again in the coming months. News background Arthur Hayes, former head of crypto exchange BitMEX, talked about two scenarios after Ethereum moves to the Proof-of-Stake (PoS) mining algorithm. If the fork is unsuccessful, ETH could fall sharply but hold above $800. If the merger is successful, an ETH rally should be expected, although it may be delayed, as in the case of bitcoin halving. Korean authorities are investigating 16 crypto exchanges that are accused of breaking local laws and providing digital asset trading services to Korean citizens. Tether, the issuer of the largest USDT stablecoin by capitalisation, has announced a partnership with accounting firm BDO Italia. Tether plans to move from reporting quarterly financial results to monthly reporting.
The Ethereum Crypto Is Currently Testing The Fibonacci

Breaking: You Can Pay For Fuel With Crypto At Some Gas Stations In Australia! Technical Analysis Of ETH/USD - 19/08/22

InstaForex Analysis InstaForex Analysis 19.08.2022 13:05
Relevance up to 08:00 2022-08-20 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Crypto Industry News: The well-known Australian gas station brand On The Run (OTR) has today launched a cryptocurrency payment service at its 175 points. They are located in Victoria, South Australia and Western Australia. This is a consequence of establishing cooperation between the OTR company and the Singapore cryptocurrency exchange and DataMesh - the national provider of payment systems. The stock exchange is responsible for providing the Pay Merchant service as a payment settlement layer, and Datamesh supplies the points of sale with terminals. The next steps that OTR's parent company, Peregrine Corp, intends to take are the introduction of cryptocurrency payments at another 250 retail outlets in Australia. We are talking about places such as Subway, Oporto and Krispy Kreme. Mohan also announced that Crypto.com does not charge additional fees for transactions carried out in this situation. However, a top-down fee will be charged on the part of the seller who will set the rates for the products and services himself. It looks like the transaction costs will be equal to the cost of paying with a fiat card. Technical Market Outlook: The ETH/USD pair has fell out of the channel around the level of $1,880 and is broke below the technical support located at $1,819. At the time of writing the analysis, the new local low was made at the level of $1,805. The momentum had violated the level of fifty already and it points to the south indicating a strong bearish activity. The nearest technical resistance is seen at $1,915 and must be clearly violated in order to continue the up move. The key short-term technical support is located lower, between the levels of $1,785 - $1,756.     Weekly Pivot Points: WR3 - $2,132 WR2 - $2,042 WR1 - $1,986 Weekly Pivot - $1,953 WS1 - $1,897 WS2 - $1,864 WS3 - $1,775 Trading Outlook: The down trend on the Ethereum might have been terminated at the level of $880. So far every bounce and attempt to rally is being used to sell Ethereum for a better price by the market participants, so the bearish pressure is still high. The next key psychological level for bulls is located at $2,000 and needs to be clearly violated before any extension higher.   Read more: https://www.instaforex.eu/forex_analysis/289174
Crypro: Bitcoin (BTC) And Ethereum (ETH) Are Losing A Lot After The Speech In Jackson's Hole!

Crypto: Ethereum (ETH) And Bitcoin (BTC) Start Losing? Filecoin (FIL) Sheded Almost 18%!

Conotoxia Comments Conotoxia Comments 19.08.2022 14:57
Since the beginning of July, the crypto market seemed to be on the rise. The largest tokens (BTC and ETH) at the local peak, gained around 35% and 101% respectively. However, today at 11:30 GMT+3 BTC is losing around 7.3% and ETH around 8%. Today, ETH broke through its price channel and the 20-day moving average. If the price does not return to the channel in the next couple of days, we will be able to say that a possible reversal of the short-term trend we mentioned in previous articles has taken place. Especially if this is confirmed by indicators such as the Wilder directional indicator. BTC has also moved far out of its price channel and is currently below the 10, 20 and 50-day moving averages. The directional indicator has already shown a potential trend reversal and the MACD is approaching the negative zone. Today on the Conotoxia MT5 platform at 11:00 GMT+3, Filecoin (FIL) is down the most. It is experiencing a loss of almost 18%. According to Coinmarketcap, it has a capitalisation of almost $1.8 billion and a daily volume of over $511 million. Filecoin was launched in 2020 to decentralise data storage, providing an alternative to industry giants such as Amazon and Alibaba at a cost reduction of almost 99%. The project's network connects storage providers with customers looking for a place to keep their data. Those offering their storage from laptops to server rooms after verifying data integrity and security can obtain a FIL token as a reward. This creates a highly diversified and low-cost database network. However, the characteristics of the project are inherently inflationary, unlike BTC. The declines described are attributed to a broad market correction, the exit of 'big money' and growing pessimism about the increasing supply of FIL tokens. Rafał Tworkowski, Junior Market Analyst, Conotoxia Ltd. (Conotoxia investment service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82.59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.   Source: The crypto market falls as profits are realised
Ethereum Confidently Maintained Its Bullish Positions

🟥Watch Out Crypto Fans! Ethereum Price May Catch You By Surprise!

InstaForex Analysis InstaForex Analysis 22.08.2022 10:46
Relevance up to 10:00 2022-08-23 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.   Crypto Industry News: About six years after Ethereum Classic miners excavated the first ETC block at block 1,920,000, the ETC hashrate reached the new ATH on August 20, 2022. The Hashrate ETC was 38.37 TH / s at block height 15 776 674. Hashrate joined the ETC chain over time, Ethereum is getting closer and closer to the Merge update scheduled for September 15, 2022. Four days ago, on August 17, the ETC hashrate was 27.56 TH / s and has increased by 39.22% since that day . The largest ETC mining pool is Ethermine, controlling 8.05 TH / s, and the next with 8.02 TH / s is Poolin. The combined hashrate of Ethermine and Poolin of around 16 TH / s is over 40% of the global ETC hashrate. The Ethereum Classic was launched after the 2016 DAO hack and the first ETC block was excavated on July 20, 2016. ETC supporters believe this is the original unchanged Ethereum Blockchain as the DAO hard fork wiped out the Blockchain event. Committing to proof-of-work, the developers of Ethereum Classic removed the "difficulty bomb" from the ETC chain at a block height of 5,900,000. While Ethereum Classic saw a significant jump in its hashrate rate, other Ethash-based token networks such as Ravencoin, Ergo, and Beam saw no significant increases in hashrate. The Nora's Ethereum Classic hashrate level record is thus in line with many predictions that the ETH hashrate would transfer to the ETC. Last week, JPMorgan's market strategists predicted ETC would likely be one of The Merge's main beneficiaries. Technical Market Outlook: The ETH/USD pair has fell out of the channel and the sell-off accelerates rapidly towards the technical support seen at the level of $1,559. The market conditions on the H4 time frame chart are extremely oversold, however the bearish pressure is still strong. The nearest technical resistance is seen at $1,666 and must be clearly violated in order to continue the up move. The key short-term technical support is located at the level of $1,559 and if clearly violated, then the next target for bears is located at $1,358.     Weekly Pivot Points: WR3 - $1,703 WR2 - $1,649 WR1 - $1,615 Weekly Pivot - $1,595 WS1 - $1,560 WS2 - $1,540 WS3 - $1,485 Trading Outlook: The down trend on the Ethereum might have been terminated at the level of $880. So far every bounce and attempt to rally is being used to sell Ethereum for a better price by the market participants, so the bearish pressure is still high. The next target for bears is located at the level of $1,358.   Read more: https://www.instaforex.eu/forex_analysis/289418
Oh My! Crypto Market Decreased By $150 Billion! CME Group Is Said To Launch (ETH) Ether Futures

Oh My! Crypto Market Decreased By $150 Billion! CME Group Is Said To Launch (ETH) Ether Futures

Alex Kuptsikevich Alex Kuptsikevich 22.08.2022 13:03
Market picture Bitcoin has declined 12.2% in the past seven days, trading at $21,500. Ethereum has lost 17.8%, down to $1560. Other leading altcoins from the top 10 have fallen from 7.8% (BNB) to 22% (Solana). The total capitalisation of the crypto market, according to CoinMarketCap, dipped below $1 trillion over the weekend, losing $150 billion over the week. Near this level, the crypto market lingered in mid-year and early 2021. Bitcoin's inability to develop growth above $25K showed that in the previous two months, we had only seen a rebound in a falling market, but not the start of a rapid recovery. BTC is showing negative technical signals, having fallen below its 200-week moving average, now passing around $23K. Most of Bitcoin's decline came on Friday, and its catalyst may have been a drop in stock indices. After four weeks of gains, the S&P 500 began a correction, with its biggest fall in almost two months. Pressure on risky assets came from the minutes of the US Federal Reserve's July meeting published on Wednesday, which showed the regulator's determination to fight inflation. Having broken the upward channel support, BTCUSD is now stomping around $21K, where the price direction has reversed four times in the past four months. News background The recent announcement by the US House of Representatives Energy and Commerce Committee that lawmakers are "deeply concerned" about the popularity of Proof-of-Work cryptocurrency mining may have affected the negative market dynamics. The members of Congress requested four mining companies to provide data on the environmental impact of their activities. The European Central Bank (ECB) outlined its plan to license cryptocurrency activities and create a regulatory framework governing the industry in the EU. On 12 September, the Chicago Mercantile Exchange (CME) will launch options on Ethereum futures ahead of The Merge. This will happen after regulators approve the initiative. Finally, the Accounting firm BDO Italia has provided an opinion on the adequacy of Tether Holdings' reserves to collateralise the USDT stablecoin fully.
Crypto: Bitcoin (BTC) And Ethereum (ETH) Are Losing In Value!?

Crypto: Bitcoin (BTC) And Ethereum (ETH) Are Losing In Value!?

Conotoxia Comments Conotoxia Comments 22.08.2022 17:20
The average bitcoin payment fee recently fell below $1 for the first time in years. Transaction fees are needed to enable crypto intermediaries to operate, but they are hampering the adoption of payment solutions, affecting small payments in particular. Because the network is expensive to maintain due to its energy-intensive nature, commissions have been able to shoot up many times, for example, Ethereum commissions during the NFT hype. This is even more painful for transfers of small sums. This is why new technological solutions are so important. Here comes ethereum's Merge and payment solutions for bitcoin (Lightning Network and Taproot overlays), which are already revolutionising the world of crypto payments. They allow settlements to be faster, less energy-intensive and less expensive. The current average transaction fee for BTC payments has fallen below $0.825 - the lowest since 13 June 2020, ETH below $0.64, and is likely to be even cheaper. Their decline is not only a reason for the ever-improving technology, but also the recent crash of tokens, NFTs and an increase in the ease of mining in the long term. However, current energy and cryptocurrency prices may cause a short-term decline in mining activity. Many have already suspended operations or exited the crypto world. This can be seen in particular through the massive sale of mining rigs and used computer hardware (especially graphics cards). ETH, BTC and most tokens seemed to continue their declines. ETH and BTC prices are below the price channel and in the absence of a return above its bottom line, we can probably already speak of a short-term trend reversal. ETH has found its support on the 50-day moving average for now, while BTC has already crossed it. Moreover, the technical indicators (RSI, MACD and ADX) do not indicate a reversal of the short-term trend either. Declines in the major stock market indexes, hawkish announcements from the FED and further pessimistic data from the economy seem to be putting a lot of pressure on crypto. RafaÅ‚ Tworkowski, Junior Market Analyst, Conotoxia Ltd. (Conotoxia investment service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82.59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.   Source: BTC and ETH payments getting cheaper. Will Cryptocurrencies experience further declines?
Crypto: Bitcoin (BTC) And Ethereum (ETH) Situation. Is It Just An Run-Up?

Crypto: Bitcoin (BTC) And Ethereum (ETH) Situation. Is It Just An Run-Up?

Saxo Bank Saxo Bank 22.08.2022 19:15
Summary:  On Friday, crypto long positions worth north of $500mn were liquidated, as fatigue spread in the crypto market. Not helping was speculation that exchanges may be forced to censor certain transactions on Ethereum in the future. Speaking of transactions, the demand for them on Bitcoin and Ethereum has decreased significantly, weakening the fundamentals of particularly Ethereum. Traders standing in line to be liquidated The crypto market, notably Ethereum, recovered partially in July and August until last week. From a low of 17,600 (BTCUSD) and 880 (ETHUSD) in June, Bitcoin and Ethereum surged to a local high of 25,200 and 2,030 on the 15th and 14th of August, respectively. Following new local highs, the market was seemingly becoming exhausted last week. Since then, Bitcoin has plunged by 15.6% to 21,270, whereas the Ethereum price has declined by 23.3% to 1,565. On mainly Friday, crypto derivative exchanges saw red. On this day, long positions were liquidated worth a combined $562mn in 24 hours. This is almost as much as the day in June, when Celsius halted withdrawals, even though the market movement to the downside was larger in June. This means that the crypto market has been extremely leveraged to ride the uptrend the past month and that party came to a halt on Friday. It seems that traders have particularly leveraged Ethereum trades going into the merge. Can exchanges censor certain Ethereum transactions? Two weeks ago, the US sanctioned the most used mixer on the Ethereum network called Tornado Cash. The latter has often been linked to money laundering; however, it was frequently used by private individuals to engage with the Ethereum network privately. The Tornado Cash protocol cannot by default be shut down, since it is a smart contract, so the sanctions involve that no US person or entity is allowed to engage with transactions originating from Tornado Cash. Afterward, speculation arose about what could possibly be next in line to be sanctioned. The ultimate sanction could be to censor certain Ethereum transactions, thus possibly shutting down the Tornado Cash protocol for good. At the moment, it would not be possible for governments to directly censor such transactions, however, it might be possible for them, as soon as Ethereum adopts proof-of-stake instead of a proof-of-work framework in the middle of September, known as the merge. This is because the majority of the Ether staked, hence Ether used to verify transactions, is done through exchanges or other intermediaries by clients handing over their Ether to these companies for them to verify transactions on Ethereum. For instance, Coinbase handles close to 15% of the total amount of Ether staked. Governments can technically make Coinbase adhere to such sanctions by ensuring it does not verify transactions related to Tornado Cash on a network level. Without going into too many details, in our opinion, it is very unlikely that this will occur, both from a societal and technical point of view. Yet, if it in reality occurs, then everything in the industry is at risk since the main selling proposition is full decentralization without intermediaries. In case certain transactions are ruled out from the network, we need to look ourselves in the mirror and ask if this industry has then anything to offer at all. The speculation in this matter did arguably contribute negatively to the price development of Ethereum in the last week. Brian Armstrong, Coinbase’s co-founder and CEO, commented on this on Twitter last week. Here, he said that Coinbase would possibly exit its staking operations if governments came to enforce the sanction of transactions on-chain, as Armstrong stated, “to focus on the bigger picture” by keeping Ethereum decentralized. If all staking providers do this, then it will presumably not be a problem, as the network will be kept online by solo stakers. When prices drop, fees follow suit For the majority of the year, the crypto prices have been on a downward trajectory. Transaction fees paid on particularly Bitcoin and Ethereum have followed suit. In November last year, Bitcoin generated around $500,000 - $1mn in fees daily, while Ethereum set at around $50mn - $80mn in transaction fees daily. Now, Bitcoin averages around $150,000 - $300,000 daily, while Ethereum sits at around $2mn - $3mn daily. This emphasizes that most activity on Bitcoin but primarily Ethereum is highly speculative and strictly linked to the prices of cryptocurrencies. Source: Token Terminal For Bitcoin, there are no direct consequences of lower total transaction fees in the near term. However, it might have consequences in the next decades, since the network might not be able to sufficiently compensate miners. For Ethereum, the lower transaction fees result in less Ether burned, effectively meaning less is removed from the supply. This makes the fundamentals of Ethereum weaker. For instance, Ethereum has for the past year burned 4.71 Ether per minute from transaction fees, whereas it has only managed to burn 0.89 Ether per minute in the past 30 days. Bitcoin/USD - Source: Saxo Group Ethereum/USD - Source: Saxo Group   Source: Crypto Weekly: Leverage is the language of crypto
Crypto Market Survived A Dramatic Loss! Guo Seems To Prefer PoW Ethereum To Proof-Of-Stake!

Crypto Market Survived A Dramatic Loss! Guo Seems To Prefer PoW Ethereum To Proof-Of-Stake!

Kucoin Blog Kucoin Blog 23.08.2022 12:57
Most of the cryptocurrencies ended up in the heavy red over the past week, with most reaching double-digit losses. The overall cryptocurrency market volume in the past 24 hours came up to $60.83 billion - a drastic drop of over $17 billion from the past week. The overall crypto market cap decreased slightly compared to the previous week, coming up to $1 trillion, a slight decrease from the previous week’s $1.15 billion.   Let's delve deeper and take a quick look at the latest crypto market news and BTC's technical outlook.   Crypto Market Overview Bitcoin's dominance has remained below the 40% mark but increased slightly to 39.31%. This came as a result of BTC outperforming the top cryptocurrencies by making a smaller downturn. The most valuable cryptocurrency pair, BTC/USDT, is currently trading at $21,293.62, while Ethereum, the second-largest cryptocurrency by market capitalization, has fallen to $1,570.88, down 18.92% in the last week.   The top performers from the previous week were EOS (EOS) and Chiliz (CHZ), while the rest ended their week in the red. EOS has increased by 19.74% to $1.51, while CHZ gained 7.54% in the past seven days.   Cryptocurrency Market Heatmap | Source: Coin360   On the other hand, Lido DAO (LDO), Near Protocol (NEAR), and Curve DAO Token (CRV) were the worst performers of the week. LDO is down 31.27% to $1.91; NEAR is down 26.63% in the last seven days; CRV is down 26.17% to $1.   Top Altcoin Gainers and Losers Top Altcoin Gainers: EOS (EOS) ➠ 19.74% Chilliz (CHZ) ➠ 7.54% Top Altcoin Losers: Lido DAO (LDO) ➠ 31.27% Near Protocol (NEAR) ➠ 26.63% Curve DAO Token (CRV) ➠ 26.17%   News Highlights Here are some of the events that made the previous week's crypto news section stand out:   Ethereum 2.0 Merge in the Limelight, PoW Ethereum the Talk of the Town The Ethereum blockchain is on track to make its highly anticipated transition from its current Proof-of-Work (PoW) consensus mechanism to a Proof-of-Stake (PoS) one. The Merge date is officially scheduled for Sept. 15–16 after the successful final Goerli testnet integration to the Beacon Chain on Aug 11.   However, not everything is going smoothly, as a group of miners and PoW supporters have announced that they will opt to hard fork Ethereum and continue operations on the new version. Chandler Guo, a Bitcoin (BTC) miner, was among the first to bring out a case for the PoW Ethereum chain post-Merge. In a tweet on July 28, Guo shared with the public a screenshot of Chinese miners saying that PoW Ethereum is coming soon.   However, Vitalik Buterin has denounced those who are in favor of PoW Ethereum, claiming that the move is just a ploy for miners to make easy money without benefiting humanity - especially after them declining to move to ETC, a Proof-of-Work Ethereum fork from 2016.   Cardano Testnet Critical Bug a Controversy? Charles Hoskinson, the founder of Cardano, has come out to speak about how the issues surrounding the Cardano Vasil hard fork have been “incredibly corrosive and damaging.” After a rumor broke out that Cardano’s testnet is “catastrophically broken,” Hoskinson stated that there’s been an “unfair narrative” floating around Cardano and its testnet issues, which he called “incredibly corrosive and damaging.”   He spoke about how people can and should not conflate a failed testnet with the mainnet, because testnets are constructed and destroyed all the time in this industry. He then added that “They are in no way, in any way harm Cardano itself.”   The Vasil hard fork has already been delayed several times this year, with the most recent delay being announced at the end of July due to issues identified on the testnet. Hoskinson, however, remains optimistic that the Vasil hard fork will ship “imminently.”   USDC Records a 22-Month Low Whale Holding Percentage The percentage of USD Circle (USDC) stablecoins held by the top 1% of wallet addresses dropped to its lowest point in almost two years as the crypto market downturn continues. While the real reason or reasons for this are unknown, various commentators have suggested that some users shifted their stablecoin holdings from USDC to USDT. This claim was made given the correlation in the decline and growth of the respective stablecoins’ market cap.   Data from Glassnode, an on-chain analysis firm, shows that the percent of USDC held by the top 1% of addresses is currently at a 22-month low of 87.667%.   However, even though the market cap of USDC ended up reducing somewhat, the stablecoin reached a three-year high in terms of weekly mean transaction volume, surpassing the previous high it registered in June of this year.   Tether Decreases Commercial Paper Holdings by 58% An announcement from USDT issuer Tether Holdings Limited revealed the results of the independent Q2 attestation performed by the top accounting firm BDO Italia.   Tether had previously made an announcement that they intend to reduce their commercial paper holdings to 0% by the end of October 2022. Data from this report revealed a 58% decrease in commercial paper exposure since the previous quarter. When translated into dollar value, this is a decrease from $20 billion to $8.5 billion.   The CTO of Tether, Paolo Ardoino, tweeted that Tether plans to continue to decrease its commercial paper holdings to $200 million by the end of August, and to ultimately reach zero by the following October.   The Fear & Greed Index at 29, Market Turning More Bearish The fear and greed index continues to signal "fear," with an index indicating a 29 score. Fear levels have increased greatly since the past week, with the market now being much more fearful than on Monday past week, when the Index showed 45.   Fear & Greed Index | Source: Alternative Crypto Calendar: Events to Watch This Week ➺ 22/08/2022 - JEWEL - DeFi Kingdoms AMA ➺ 22/08/2022 - DFI - BitMart Listing ➺ 23/08/2022 - TRX - Telegram AMA ➺ 24/08/2022 - SAND - Alpha Season 3 Begins ➺ 25/08/2022 - Crypto - CoinFest Asia ➺ 26/08/2022 - ICP - BTC Testnet AMA   Bitcoin (BTC/USDT) Analysis on KuCoin Chart Bitcoin has had a very bad week, with its price slowly recording double-digit losses and dropping below several support levels. The largest cryptocurrency by market cap has seemingly failed to maintain the uptrend it kept for over a month, while also falling below the 21-day moving average level.   This downtrend has led BTC from a little over $25,000 all the way up to a high of $20,760, which it hit on Saturday. However, the price bounced back above the $21,000 mark, and it’s fighting to stay above this level.   BTC/USDT Chart on the Daily Timeframe | Source: KuCoin   Analysts are predicting an even further drop due to worldwide uncertainty, with long-term lows possibly hitting the low teens.   Bitcoin’s immediate support level stays at $21,000, while its immediate resistance level lies at the 21-day moving average, currently sitting at $23,100.   Did you know that KuCoin offers premium TradingView charts to all its clients? With this, you can step up your Bitcoin technical analysis and easily identify various crypto chart patterns.     Sign up on KuCoin, and start trading today! Follow us on Twitter >>> https://twitter.com/kucoincom Join us on Telegram >>> https://t.me/Kucoin_Exchange Download KuCoin App >>> https://www.kucoin.com/download Also, Subscribe to our Youtube Channel >>>Listen to 60s Podcast Source: Weekly Crypto Analysis: BTC Testing $21K Support; Crypto Market Losing its Upward Momentum| KuCoin
Forex: Gold Is On Downside Movement. Situation On 31 Of August

Wall Street: The Worst Day Since June. Bitcoin (BTC) And Ethereum (ETH) Can Feel The Tension In The Air

Conotoxia Comments Conotoxia Comments 23.08.2022 14:35
According to Coinmarketcap data, the total capitalization of cryptocurrencies has fallen to nearly $1 trillion, showing a major shift in sentiment among traders and investors in recent days. The last time market capitalization was at this level was in late July. The possible trend reversal does not only apply to cryptocurrencies. The Nasdaq and S&P 500 have fallen from their local highs of August 16 by 5.7% and 3.8%, respectively. This is a significant change for such large indexes. Interest rates on U.S. 5-year Treasury bonds, after recording a local low of 2.55% on August 1, have risen to 3.17% in recent weeks, as Fed policymakers' statements proved more hawkish than expected. These are potential signs of a deteriorating outlook again, which should not be ignored. A chart of the Crypto Fear & Greed Index may show a decline in crypto market sentiment and an increase in investor fear. As recently as last week, the index showed a reading of 44, and now it is 28 points. Despite the partial decrease in the correlation between bitcoin and the S&P 500, it still seems to be high. Especially since it has historically risen during crashes - the last peak in the correlation was reached in mid-May, when both markets were down. BTC and ETH, despite finding support at $20,700 and $25,300, respectively, could be more exposed to the downside due to deteriorating economic data and market sentiment.  On the Conotoxia MT5 platform as of 12:00 GMT+3, one of the strongest falling tokens is EOS, which is losing nearly 9% after a 7-day gain of 48%. EOS is the native token of the EOSIO network. In practice, the project provides blockchain developers with a set of necessary tools and services to build and scale decentralized applications. The project's first whitepaper was released in 2017, and the team conducted an ICO, securing more than $4 billion in investment. It was one of the largest crowdfunding events in the history of cryptocurrencies.   Rafał Tworkowski, Junior Market Analyst, Conotoxia Ltd. (Conotoxia investment service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82.59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Source: Does data signal more short-term declines in the crypto market?
Bitcoin Is Losing Market Share To Competing Altcoins

(BTC/USD) Bitcoin Price Lingers Around $20,000. Crypto Traders May Be Vigilant As Powell's Is Said To Speak In Jackson Hole

Craig Erlam Craig Erlam 23.08.2022 16:26
It’s been a choppy day of trade, with much of Asia and Europe treading water while the US is expected to open marginally higher. It’s clear that investors already have an eye on the Jackson Hole Symposium later in the week and we’re perhaps seeing some apprehension and anxiety ahead of that. I’m not entirely sure where that has come from because they’ve been perfectly happy to bat away hawkish warnings in recent weeks and if anything, the data has turned slightly in their favour. It may simply be a case of profit-taking after a good run in case the message finally gets through and causes a wobble in the markets. Equally, we could just be seeing markets being set up for a strong end to the week if Chair Powell says anything remotely dovish that excites traders once more. Positivity in PMIs not going to last Outside of the US, it doesn’t seem there’s much to be optimistic about. European PMIs this morning, while marginally beating expectations in some cases, were pretty poor. The flash services PMIs for France and the euro area just about remained in growth territory but the trend suggests that’s only a matter of time. The UK services PMI was a positive surprise, falling only a touch from 52.6 to 52.5 against expectations of a much steeper decline. Unfortunately, not only was the manufacturing PMI frankly appalling, the performance of the far more important services sector is highly unlikely to last. A recession is coming, regardless. Steady after Friday’s tumble Bitcoin has stabilised a little in recent days following Friday’s sharp plunge. It appears to have run into support just above $20,000, around the same level it did back in late July. It’s also around the 61.8% retracement of the June lows to the August peak. As appears to be the case elsewhere, we may be seeing traders adopting caution ahead of Powell’s Jackson Hole appearance. A break below $20,000 could be a major blow. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. Choppy trade - MarketPulseMarketPulse
Ethereum Confidently Maintained Its Bullish Positions

Crypto: Ethereum (ETH) Situation Is Changing Everyday

InstaForex Analysis InstaForex Analysis 23.08.2022 16:50
Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Crypto Industry News: General Bytes is one of the three largest producers of crypto ATM in the world. The company announced on August 19 that their devices had been hacked in a zero-day vulnerability. This term denotes a software security bug that has not been identified by the developers. Hackers used it to modify settings for their own benefit. As a result of Thursday's attack on servers supporting the operation of bitomats, criminals carried out an operation to obtain administrator privileges. Then, they changed the address of the wallet of recipients of transactions, so that device users lost access to the flowing funds while buying or selling them. The manufacturer did not disclose to the public how many devices were affected by the hack and how many funds were stolen. However, the company advised operators to update the software immediately. It was established that the vulnerability has been functioning since Thursday's modification of the CAS software, as a result of which hackers managed to activate its new version with the number 20201208. General Bytes suggests that customers refrain from using their devices until the server is updated. The company hopes to fix the vulnerabilities and restore old settings with some tweaks. Before reactivating its terminals, General Bytes advised customers to review their "cryptocurrency sales settings" again. This is to make sure that hackers have not tweaked their settings so that the funds being sent go directly to their wallets. GB said several security audits have been carried out since the inception of their systems in 2020. However, never once has a similar vulnerability been discovered. Technical Market Outlook: The ETH/USD pair has fell out of the channel and the sell-off accelerates rapidly towards the technical support seen at the level of $1,559. The market conditions on the H4 time frame chart are extremely oversold, however the bearish pressure is still strong and the local bounces are very shallow. The nearest technical resistance is seen at $1,666 and must be clearly violated in order to continue the up move. The key short-term technical support is located at the level of $1,559 and if clearly violated, then the next target for bears is located at $1,358. Weekly Pivot Points: WR3 - $1,703 WR2 - $1,649 WR1 - $1,615 Weekly Pivot - $1,595 WS1 - $1,560 WS2 - $1,540 WS3 - $1,485 Trading Outlook: The down trend on the Ethereum might have been terminated at the level of $880. So far every bounce and attempt to rally is being used to sell Ethereum for a better price by the market participants, so the bearish pressure is still high. The next target for bears is located at the level of $1,358.   Source: Forex Analysis & Reviews: Technical Analysis of ETH/USD for August 23, 2022
Ethereum's Merge Is Almost Here. What Is Ethereum Name Service (ENS)?

ETH/USD - Ethereum Price - Technical Analysis - 24/08/22

InstaForex Analysis InstaForex Analysis 24.08.2022 15:11
Relevance up to 09:00 2022-08-25 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.   Crypto Industry News: The chairman of the US Securities and Exchange Commission (SEC) - Gary Gensler - says there is no reason to treat the cryptocurrency market any differently from the rest of the capital markets just because it uses a different technology: "Recent market events show why it is so important for cryptocurrency companies to comply with securities laws. In recent months, some cryptocurrency lending platforms have frozen their investors' accounts or have gone bankrupt. As for bankruptcy, these investors now have to fight in court. " - added. The head of the SEC emphasized that no matter what the financial product is, whether it is an application, a lending platform, a cryptocurrency exchange or a decentralized financial platform, the regulations must be followed. "For decades, the Supreme Court has explained that the economic realities of a product - not a label - determine whether it is a security [or not]," he explained. He added that he knew that "there are costs of compliance with securities laws." He likened it to "car makers bear the cost of fitting seat belts." Technical Market Outlook: The ETH/USD pair has bounced from the technical support seen at the level of $1,559, however, the bears hit the trend line support located around the level of $1,530 as well. The nearest technical resistance is seen at $1,666 and must be clearly violated in order to continue the up move. The key short-term technical support is located at the level of $1,559 and if clearly violated, then the next target for bears is located at $1,358. The momentum remains weak and negative, so the ETH market remains under the bearish pressure.     Weekly Pivot Points: WR3 - $1,703 WR2 - $1,649 WR1 - $1,615 Weekly Pivot - $1,595 WS1 - $1,560 WS2 - $1,540 WS3 - $1,485 Trading Outlook: The down trend on the Ethereum might have been terminated at the level of $880. So far every bounce and attempt to rally is being used to sell Ethereum for a better price by the market participants, so the bearish pressure is still high. The next target for bears is located at the level of $1,358.   Read more: https://www.instaforex.eu/forex_analysis/289757
Ethereum’s Merge Is The Most Influential Events, The Change In Verifies The Transactions

Crypto: ETH/USD Trying To Recover. Ethereum Gained Almost 10%!

InstaForex Analysis InstaForex Analysis 24.08.2022 23:40
Relevance up to 16:00 2022-08-25 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Ethereum rebounded in the short term but the current growth could be short-lived. After its amazing sell-off, the altcoin could try to recover. ETH/USD increased by 9.44% from Monday's low of 1,529 to yesterday's high of 1,673. It was trading at 1,644 at the time of writing. Ethereum has gone up by 1.25% in the last 24 hours but it has been down by 10.82% in the last 7 days. Bitcoin tried to rebound, that's why ETH/USD turned to the upside. ETH/USD Temporary Rebound? ETH/USD found support right above the 50% (1,519) retracement level and now has managed to pass above the 38.2% (1,640) retracement level. Still, as long as it stays under the downtrend line, the bias remains bearish. Also, the weekly pivot point of 1,718 represents an upside obstacle. Only a valid breakout through the downtrend line and above 23.6% (1,790) could announce that the downside movement ended. ETH/USD Forecast Testing and retesting the pivot point and the downtrend line and registering only fasle breakouts could announce a new sell-off. A larger downside movement and a great short opportunity could appear only after a valid breakdown below the 50% (1,519) retracement level.   Source: Forex Analysis & Reviews: Ethereum struggling to rebound
Ethereum Confidently Maintained Its Bullish Positions

Crypto: ETH/USD Ether Price - Technical Analysis - 25/08/22

InstaForex Analysis InstaForex Analysis 25.08.2022 10:10
Crypto Industry News: The upcoming transition of the Ethereum blockchain to the Proof-of-Stake consensus model is on the final straight. The network's developers have given the exact date of this event, which was named the Merge. As is the case with such advanced activities, certain complications are inevitable. This is where web programmers play a key role, reacting quickly to errors that occur. Peter Szilagyi, one of the developers of Ethereum (ETH) software, reported on Twitter that he ran into a bug that could damage the network system. He explained that it was probably a request to accept changes that were attached to create a new retention model or shrink the current one. Some time later, the developer indicated that the caught bug will affect people who are running the version 1.10.22 it was related to. He added that the problem of data loss appears after turning off the devices, hence their tests were not able to catch the error. Nevertheless, the programmers managed to fix the observed error quite efficiently. The Go Ethereum team created a patch that eliminated it. He then instructed users to upgrade backwards and go back to the previous version to check if everything was working properly. Technical Market Outlook: The ETH/USD pair has bounced from the technical support seen at the level of $1,559 and is currently approaching the 38% Fibonacci retracement level of the last wave down located at $1,719. The next technical resistance is seen at $1,756 and must be clearly violated in order to continue the up move. The key short-term technical support is located at the level of $1,559 and if clearly violated, then the next target for bears is located at $1,358. The momentum is currently strong and positive, so the short-term outlook is bullish up to the 61% Fibonacci retracement level located at $1,836.     Weekly Pivot Points: WR3 - $1,703 WR2 - $1,649 WR1 - $1,615 Weekly Pivot - $1,595 WS1 - $1,560 WS2 - $1,540 WS3 - $1,485 Trading Outlook: The down trend on the Ethereum might have been terminated at the level of $880. So far every bounce and attempt to rally is being used to sell Ethereum for a better price by the market participants, so the bearish pressure is still high. The next target for bears is located at the level of $1,358.   Relevance up to 08:00 2022-08-26 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/289930
The Date Of The Merge Is Confirmed. Ethereum (ETH) May Have Good Days?

The Date Of The Merge Is Confirmed. Ethereum (ETH) May Have Good Days?

InstaForex Analysis InstaForex Analysis 25.08.2022 14:42
Relevance up to 10:00 2022-08-30 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. The Ethereum Merge is one of the most anticipated events for the crypto community in 2022, with the end of the multi-year plan to shift to a Proof-of-Stake protocol now in sight. Alas, all technology-related things are not free from bugs. Earlier this week, Peter Szilagyi, an Ethereum software developer, tweeted that his team had found a regression that resulted in a corruptive state. In the later update, the developer explained the problem will likely affect those who are running the release in terms of corrupting their database and resulting in the loss of data. A solution to the problem was found after a day of work. The date of the Merge is confirmed. The Ethereum Foundation provided evidence that this latest bug had not derailed the planned launch of the Merge. On Wednesday, the Foundation posted a blog, saying that developers had officially confirmed September 6 as the transition date to a Proof-of-Stake protocol. This will be a two-step Merge: the Bellatrix stage and the Paris stage. The Bellatrix update will take place at 11:34 AM UTC on September 6. The Paris transition to Proof-of-Stake will occur between September 10 and September 20. These dates could change plus or minus five days due to shifts in block time and hash rate fluctuations.   Source: Forex Analysis & Reviews: Ethereum Merge coming soon
Crypto: Ethereum - Altcoin Correction Completed?

Crypto: Ethereum - Altcoin Correction Completed?

InstaForex Analysis InstaForex Analysis 25.08.2022 16:14
Relevance up to 10:00 2022-08-26 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Ethereum is on the eve of a key event in its history, but even this did not keep the altcoin from falling. The cryptocurrency fell along with the entire market and tested the support level at around $1500. ETH managed to stop the fall and realize a local bullish momentum, gaining 4.5% over the past day. However, the asset has lost 7% of capitalization over the past seven days. As of August 25, Ethereum reached $1700, but should this be regarded as the end of the correction? On the daily chart, we see the full viability of the altcoin's local bullish momentum. Ethereum formed four uncertain candles in a row, indicating a decrease in overall trading activity and an advantage for buyers. The altcoin has reached a key support zone, which is on par with the final part of the bullish cup and handle pattern. Keeping the bullish pattern intact indicates that strong buying sentiment continues, suggesting a continued rise in the price of ETH. Technically, Ethereum also looks poised for a renewed upward trend. The main metrics of the asset indicate the activation of buyers and the presence of bullish momentum. The Relative Strength Index fell below 40 but then reversed upwards and crossed the 50 mark. The movement of the RSI directly indicates growing buying volumes and the presence of bullish momentum. The Stochastic Oscillator also confirms the price reversal and forms a bullish crossover near the oversold zone. The MACD also reverses and does not enter the red zone, which is an important bullish signal. Ethereum technical indicators indicate the final price reversal and the completion of the corrective movement. The main on-chain metrics also show an upward movement, which indicate a fundamental confirmation of the price rebound. The number of unique addresses on the ETH network has been showing strong growth since mid-August, suggesting an influx of new users and investments. This fact is confirmed by the growth in transaction volumes in the Ethereum network, which indicates a growing interest in the altcoin network. In other words, after a local correction, which was of a healing nature, Ethereum again attracts investors due to the fundamental factor for growth. In addition, there is an active accumulation of ETH coins by large buyers and miners. This creates a shortage of ether coins, which is especially valuable after inflation peaks in early August due to low fees on the ETH network. Active accumulation by long-term investors and a local decline in the overall trading activity in the Ethereum network had a positive impact on the cryptocurrency. According to the New supply on-chain indicator, the number of new coins is decreasing, creating an additional shortage of ETH in the open supply. However, despite all the positives, it is important to consider the correlation between ETH and BTC. In the coming days, there will be a Jerome Powell symposium, and statistics on unemployment and US GDP growth will also be published. This data can significantly affect Bitcoin, which, in turn, will pull Ethereum along with it. Therefore, if the medium-term prospects of ETH are not in doubt, then everything will depend on Bitcoin regarding the short-term situation.   Source: Forex Analysis & Reviews: Ethereum holds above $1500: altcoin correction completed?
What Is Wrapped Ether, Has It Much Utility And Efficiency?

Crypto: Ethereum (ETH) - The "Migration" Is Expected To Begin

Conotoxia Comments Conotoxia Comments 25.08.2022 16:29
After many years of announcements, the Ethereum Foundation yesterday set an official date for the complete transition to the Proof-of-Stake (POS) blockchain. As previously anticipated, there have been no delays, so the 'migration' is expected to begin as early as 6 September. The upgrade, known as 'Bellatrix', involves replacing ETH miners with validators, a kind of 'nodes' of the Proof-of-Stake system. They will be responsible for storing data, processing transactions and adding more chain blocks. Each validator is expected to hold a min. 32 ETH - at the current price, this is approximately $60000.  The Ethereum Foundation expects to activate the Beacon Chain as early as 6 September. This is expected to be the first test connection to begin the complete transition to POS. The activation is scheduled for 11:34:47 UTC. After the initial activation, the Terminal Total Difficulty (TTD) triggering the Merge is expected to reach a value of 5875000000000000000000000000000. This is nothing more than the level of synchronisation of the blockchain, which will become a Proof-of-Stake (POS) chain once the threshold value is exceeded. The timetable is for this to be achieved between 10 September and 20 September. According to CoinDesk, Ethereum developers estimate that this moment will occur on 15-16 September. Merge could have an impact on the crypto world and its prospects. Its scale seems to surpass the ETH split of 2016 and could point to new areas of growth such as a Proof-of-Stake solution, energy efficiency and much lower commissions.  In addition to its impact on the development of technology and ETH, the transformation may also affect other tokens that are heavily influenced by the changing ETH blockchain. We are talking primarily about LDO, ETC and OP tokens. These are projects to which an upgrade could give new meaning.  Additionally, yesterday Vitalik Butterin, founder of Ethereum, published a post on Twitter in which he stated, "People continue to underrate how often cryptocurrency payments are superior not even because of censorship resistance but just because they're so much more convenient,". By this, he seems to be referring to the fundamentals of crypto and the changes to come.   Rafał Tworkowski, Junior Market Analyst, Conotoxia Ltd. (Conotoxia investment service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82.59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Source: Merge receives official start date - what do you need to know?
The ETH/USD Pair Tried To Rebound After The Decline And Wallet Selector In Opera Crypto

Could Crypto And Gold Profit From The De-Dollarization Trend!? ETH/USD - Technical Analysis - 26/08/22

InstaForex Analysis InstaForex Analysis 26.08.2022 10:53
Crypto Industry News: According to analysts, with the accelerating global de-dollarization trend, two assets that could benefit from it are gold and crypto space. Earlier this summer, Russian President Vladimir Putin said Brazil, Russia, India, China and South Africa (BRICS) were developing a new reserve currency based on a basket of currencies. "The issue of creating an international reserve currency based on a basket of our countries' currencies is under development," Putin said in the BRICS business forum at the end of June. "We are ready to openly cooperate with all honest partners." Five countries are also trying to create an alternative international payment mechanism, he added. BRICS can also see its membership expand, with Turkey, Egypt and Saudi Arabia considering joining the group. This is not the first time that something like this has been mentioned, as the BRICS countries are already starting to introduce more local currencies into payments in mutual transactions. According to the Deccan Herald, India and Russia held discussions about the mutual acceptance of RuPay and Mir local payment systems during the summer. Analysts see this new BRICS reserve currency proposal as an alternative to the US dollar and the International Monetary Fund (IMF) Special Drawing Rights (SDR) currency. Technical Market Outlook: The ETH/USD pair bounce had been capped at the 38% Fibonacci retracement level of the last wave down located at $1,719 and the market is reversing lower. The next technical resistance is seen at $1,756 and must be clearly violated in order to continue the up move. The key short-term technical support is located at the level of $1,559 and if clearly violated, then the next target for bears is located at $1,358. The momentum is currently strong and positive, so the short-term outlook is bullish up to the 61% Fibonacci retracement level located at $1,836.     Weekly Pivot Points: WR3 - $1,703 WR2 - $1,649 WR1 - $1,615 Weekly Pivot - $1,595 WS1 - $1,560 WS2 - $1,540 WS3 - $1,485 Trading Outlook: The down trend on the Ethereum might have been terminated at the level of $880. So far every bounce and attempt to rally is being used to sell Ethereum for a better price by the market participants, so the bearish pressure is still high. The next target for bears is located at the level of $1,358.   Relevance up to 08:00 2022-08-27 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/290117
Ethereum Confidently Maintained Its Bullish Positions

How Could NFT Be Introduced To The Music World? Ethereum To US Dollar (ETH/USD) - Technical Analysis - 29/08/22

InstaForex Analysis InstaForex Analysis 29.08.2022 10:45
Crypto Industry News: The COVID-19 pandemic has undoubtedly changed our lives. In March 2021, as many as 43% of respondents said that they visit brick-and-mortar stores less frequently. At that time, it was probably influenced by the fear of contracting the coronavirus. Then the situation normalized in May this year as this percentage has dropped to 20%, which is still a considerable value, however. It can be considered that the pandemic has permanently changed our habits and helped us learn to use the Internet in a new way. The number of consumers who choose to shop online is growing. In May 2022, as many as 33% of Poles declared that they prefer to order products this way rather than go to stationary stores for them. This is as much as 9 percentage points (an increase from 24%) more than in March 2021. However, 37% of survey participants mentioned high delivery costs as a barrier when shopping online, 36% - lack of trust in online retailers.The 16% of respondents declared that they intend to buy fewer physical items in the future. "It is expected that with the development of platforms such as the Metaverse, this percentage will increase," the authors of the report add. This means some opportunity for the NFT market. Consumers may in the future buy not a CD of their favorite artist, but digital music along with tokens that confirm the originality of the files. Technical Market Outlook: The ETH/USD pair has been seen making new lower lows as the price is approaching the technical support located at $1,358. The nearest technical resistance is seen at $1,530 - $1,559 and must be clearly violated in order to trigger the up move. The key short-term technical support is located at the level of $1,358 and if clearly violated, then the next target for bears is located at $1,281. The momentum remains weak and negative, however, there is a bullish divergence seen on the H4 time frame chart between the price action (last low) and momentum. The larger time frame trend (daily and weekly) remains down until further notice.     Weekly Pivot Points: WR3 - $1,532 WR2 - $1,486 WR1 - $1,468 Weekly Pivot - $1,444 WS1 - $1,424 WS2 - $1,400 WS3 - $1,355 Trading Outlook: The down trend on the Ethereum might have been terminated at the level of $880. So far every bounce and attempt to rally is being used to sell Ethereum for a better price by the market participants, so the bearish pressure is still high. The next target for bears is located at the level of $1,358. The key technical support for bulls is seen at $1,281. Relevance up to 09:00 2022-08-30 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/290334
Crypro: Bitcoin (BTC) And Ethereum (ETH) Are Losing A Lot After The Speech In Jackson's Hole!

Crypro: Bitcoin (BTC) And Ethereum (ETH) Are Losing A Lot After The Speech In Jackson's Hole!

Conotoxia Comments Conotoxia Comments 29.08.2022 13:50
The crypto market could have collapsed after Jerome Powell's heavily hawkish speech in Jackson Hole. That day, the leading tokens, bitcoin and ethereum lost 4% and 9%, respectively, and continued their declines over the weekend, reaching levels not seen in two months. On the Conotoxia MT5 platform, bitcoin is losing 0.5% today at 10:30 GMT+3. After breaking through the likely support level of $20750 on Friday, the token may have entered a short consolidation phase. However, given the potentially high level of pessimism in the market, it may be expected that this will not last long, with possible further downward movements ahead.  The BTC price is far below the 10-, 20-, 50- and 100-day moving averages. The nearest possible support levels are around $19300 and $18600. The MACD indicator and the directional indicator seem to indicate the continuation of the downtrend. The RSI oscillator may foretell its reversal, slowly entering the overbought area. However, since oscillators can usually give signals well ahead, one should be very cautious about this signal.  On the Conotoxia MT5 platform, ethereum is losing 2% today at 10:30 GMT+3. The token tested the likely support level of $1530 on Friday, then broke through it on Saturday. Unlike BTC, ETH has had a much more intense series of rises, and the potential for continued declines maybe even more tremendous. That's probably why the cryptocurrency hasn't even entered a short consolidation phase like BTC, and instead is set lower and lower on successive daily candles.  ETH is also below the 10-, 20-, 50- and 100-day moving averages. Popular technical indicators (RSI, directional indicator and MACD) seem to point to a continuation of declines. Even the RSI, which may look optimistic for BTC, has yet to reach the overbought area for ETH.  On the Conotoxia MT5 platform, the Cardano project's native token (ADA) is losing strongly today, falling nearly 2.5% at 11:00 GMT+3. Cardano is an ecosystem that allows developers to create tokens and decentralized applications (dApps) within DeFi. ADA uses the Proof-of-Stake (POS) blockchain. For a long time, the project has been considered one of the 10 best projects in the crypto world, according to a Forbes ranking. Currently, the token is most likely following the market and seems to be recovering from the increases over the last two months. The current declines in the crypto market may continue after the Fed chairman's hawkish speech. The expected pivot in monetary policy is likely to happen, but much later than investors anticipated. In the short to medium term, the speculative nature of cryptocurrencies and optimism about blockchain technology could be stifled by the recession, high-interest rates and lower disposable income.    Rafał Tworkowski, Junior Market Analyst, Conotoxia Ltd. (Conotoxia investment service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82.59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.   Source: Crypto on fire - ETH and BTC are approaching price levels last seen in June
Crypto: Naturally, Fed's Jerome Powell Affected Cryptocurrency Market

Crypto: Naturally, Fed's Jerome Powell Affected Cryptocurrency Market

Geco One Geco One 29.08.2022 20:01
Bitcoin (BTC) In line with market expectations, the hawkish speech of the Federal Reserve chairman last Friday contributed to a significant decline in the cryptocurrency market at the end of last week. This fact caused Bitcoin to increase the scale of the depreciation lasting from August 15 to over 22.5%, slipping to the lowest level since mid-July this year. If this sale continues, BTC could soon return to the June and July lows, that is, to the region of USD 19,000. However, it is possible that, due to the relatively calm start of the new week, Bitcoin will see a slight upward recovery soon before it returns to the downward path. The catalyst for another sell-off may be the Wednesday and Friday data from the US labour market, which will undoubtedly significantly impact the Fed’s decision on the September federal funds rate hike scale. Ethereum (ETH) Looking at the Ethereum quotes, we notice that the price of this cryptocurrency fell by over 17% in the second half of last week, increasing the range of the depreciation that has been taking place since August 14 this year to a low of 30%. This sell-off plunged the ETH price below $ 1,780 technical support and below $ 1,575. The market is currently testing another $ 1,400 support. However, if this barrier is also overcome, then Ethereum could drop to USD 1,250. Bitcoin Cash (BCH) Over the past few days, Bitcoin Cash has slumped by over 20%, increasing the extent of the depreciation that has been ongoing since July 29 this year to nearly 33%. It also pushed the BCH back to $ 112, one of its lowest levels since mid-July. If the downward trend continues and the cryptocurrency drops below the currently tested support, it could continue its rally toward $ 97, which is another crucial support zone. Litecoin (LTC) Litecoin fell by 20% between August 14 and 20, breaking the bottom from an extended bullish wedge formation. This sell-off stopped at $ 52.50 technical support, where a demand response surfaced on August 20. Due to subsequent gains, the LTC returned to the ​​previously broken support (now resistance) area of $ 57.50, measuring a 38.2% Fibonacci correction from an earlier downward move. In the area of ​​this resistance, the supply response reappeared, and the quotes of this cryptocurrency once again fell to $ 52.50. Therefore, one can conclude that the LTC rate has stalled in the past few days in consolidation between the support at $ 52.50 and the resistance in the area of ​​$ 57.50. Given that the consolidations are corrective patterns and that the market had a downward move earlier, Litecoin is statistically more likely to break the bottom from the current layout, which could drive a further depreciation toward $ 42. Solana (SOL) We notice Solana’s quotations that the cryptocurrency has been moving from mid-June inside the bullish wedge formation. The last increases stopped in mid-August this year, near the upper limit of this system, where a supply reaction appeared again. The declines since then caused the SOL price to drop by almost 38%, breaking the bottom out of the wedge formation and beating the horizontal support of $ 32.50. If this trend continues, the quotations of this cryptocurrency could soon return to the region of the June lows, i.e. to USD 26. Polygon (MATIC) The Polygon cryptocurrency fell by more than 28% between August 14 and August 20 this year, slipping below technical support of $ 0.87. This sell-off stopped around the following support in the $ 0.75 region. The MATIC course has been in the horizontal trend for over a week. So we have a similar situation here as in the case of Litecoin. So if the currently tested support is permanently defeated, the MATIC could drop further to ​​$ 0.61, $ 0.45, or even $ 0.32. Ripple (XRP) Looking at the XRP quotations, we will notice that the price of this cryptocurrency has remained within a parallel growth channel since mid-June this year. After rebounding from the upper limit of this system at the end of July this year, the XRP rate stuck in a horizontal trend just below the local resistance of USD 0.39. The supply pressure observed on August 18 and 19 contributed to breaking the bottom out of this system. Moments later, the upward trend line was also broken, which was the lower boundary of the entire growth channel. This sale stopped only in the vicinity of the technical support of $ 0.3330, where there was a slight demand response on August 20 this year. However, the subsequent rebound only contributed to a re-test of the upward trend line and the previously defeated support (now resistance) of $ 0.36, which was the lower bound to the earlier consolidation. In reaction to the hawkish speech of the Fed chairman last Friday, the XRP rate rebounded from this resistance, and on Sunday, it fell even below the support of USD 0.333. If the downward trend continues, the price of this cryptocurrency could return to USD 0.30. Nem (XEM) We could also expect a continuation of declines in the Nem cryptocurrency quotes. Its price has dropped by more than 30% since August 11 this year, beating technical support of USD 0.048 and USD 0.043. If this trend continues, XEM could return to the May, June and July lows to the technical support of USD 0.037. Chainlink (LINK) We could also expect further declines in the Chainlink quotation. The LINK exchange rate rebounded on August 13 this year from the technical resistance of USD 9.30, the upper limit of the consolidation lasting from the first half of May this year. The recent sell-off contributed to the defeat of local support around USD 7.20, which may naturally drive a further depreciation towards the lower limit of the said consolidation, i.e. to USD 5.90.
Forex: ETH/USD. Fans Of Sweets Are Becoming Fans Of Crypto

Crypto: ETH/USD. Fans Of Sweets Are Becoming Fans Of Crypto

InstaForex Analysis InstaForex Analysis 30.08.2022 10:38
Relevance up to 07:00 2022-08-31 UTC+2 Crypto Industry News: Mars Incorporated has signed an agreement with Universal Music Group. The latter company handles image licenses from NFT collectors who make up the virtual metaverse team - KINGSHIP. It's about graphics from BAYC and MAYC. As part of the new collaboration, there was a fairly original promotion of the NFT. Mars has released a limited edition of its sweets under the sign of two "MM". A gold gift box from M & M's hit the market. The number of such boxes was limited to only 100 pieces. According to the company, the series has already been sold out. The cost of one package was $ 99.99. However, this is not the end. Fans of sweets will also be able to buy brown boxes, which are a continuation of the "golden" ones. These will be numbered 101 to 4,000 and are still available. We encourage you, if you think it's worth spending $ 59.99 on candy. On top of all this, there are jars from M & M's printed with the image of the characters from the BAYC and MAYC series by KINGSHIP. Expense? Only $ 39.99. The jars were numbered from 1 to 6,000. Technical Market Outlook: The ETH/USD pair has broken above the technical resistance seen at $1,530 - $1,559 and the bounce continues higher towards the level of $16,54. The key short-term technical support is located at the level of $1,358 and if clearly violated, then the next target for bears is located at $1,281. The momentum is positive, however, there is a bullish divergence seen on the H4 time frame chart between the price action (last low) and momentum. The larger time frame trend (daily and weekly) remains down until further notice. Weekly Pivot Points: WR3 - $1,532 WR2 - $1,486 WR1 - $1,468 Weekly Pivot - $1,444 WS1 - $1,424 WS2 - $1,400 WS3 - $1,355 Trading Outlook: The down trend on the Ethereum might have been terminated at the level of $880. So far every bounce and attempt to rally is being used to sell Ethereum for a better price by the market participants, so the bearish pressure is still high. The next target for bears is located at the level of $1,358. The key technical support for bulls is seen at $1,281. Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Source: Forex Analysis & Reviews: Technical Analysis of ETH/USD for August 30, 2022
Mt. Gox's Recovered Bitcoins Seems Not To Be Paid Back To Creditors This Month

Mt. Gox's Recovered Bitcoins Seems Not To Be Paid Back To Creditors This Month

Saxo Bank Saxo Bank 30.08.2022 15:06
Summary:  Since the largest Bitcoin exchange Mt. Gox was hacked in 2014, the trustee has managed to recover around 141,000 out of 850,000 Bitcoins. The recovered Bitcoins were rumored to be paid back to creditors this August. Yet, it seems that it will not occur in the next months, making the market wait in fear of potential imminent selling pressure. The market anxiously awaits 141,000 Bitcoins from Mt. Gox In 2014, the largest Bitcoin exchange at the time called Mt. Gox leaked a total of 850,000 Bitcoins through a hack. Out of a maximum supply of 21mn Bitcoins, the hack is the most consequential in the history of crypto, although there have been many other hacks. Though, the trustee managed to recover around 141,000 Bitcoins, which have to date not been paid out to creditors; that is clients with Bitcoins deposited to Mt. Gox back in the days. With a recovery plan approved by creditors last year, the payout is undoubtedly coming closer. It was rumored in July to take place this August. However, it now seems that it is still months away, as the repayment system is not yet live. Although the Bitcoins are likely not to be repaid in the coming months, it is expected to take place at some point. The market has been severely anxious with respect to the 141,000 Bitcoins potentially flooding the market immediately following the payout, since creditors may see it as a race in liquidating the Bitcoins before everyone else. Since Mt. Gox was hacked, the value of the Bitcoins has increased by a factor of 35, so the creditors might want to secure some profit. What speaks against this race to liquidate the Bitcoins is that the trustee is likely to repay the Bitcoins in installments one at a time. Likewise, these creditors are mainly strong Bitcoin advocates soon having been around for a decade. A substantial portion of them have already made life-changing money, so they are less prone to sell the Bitcoins. As the past has often proved, the anticipation of imminent heavy selling pressure is often more powerful for a potential downward trajectory than the selling pressure itself. Strictly speaking, we do not expect the repayment to pose heavy selling pressure, particularly if it occurs in relatively minor installments at a time. Yet, we have our eyes on the market’s anticipation of the repayment, because it might spread fear across the market since it is predominantly dominated by retail more inclined to fear. See you on the other side, dear NFT hype The crypto trend of 2021 was arguably non-fungible tokens (NFTs). The biggest winner of this trend was the largest NFT marketplace OpenSea, facilitating a volume worth $14bn in 2021. While OpenSea started the year nicely with an all-time high monthly volume of over $5bn in January, it has since seen its volume decline massively. OpenSea has recorded a volume worth $480mn in August so far, in which its volume barely exceeds $10mn some days. The declining volume is mainly a result of a less speculative market combined with diminished prices denominated in Ether and even more in dollar terms. Bitcoin/USD - Source: Saxo Group Ethereum/USD - Source: Saxo Group Source: Crypto Weekly: Anxiously awaiting 141,000 Bitcoins
The ETH/USD Pair Tried To Rebound After The Decline And Wallet Selector In Opera Crypto

Week Full Of Important Economic Events That Directly Affect The quotes Of ETH. Ethereum in an upward trend?

InstaForex Analysis InstaForex Analysis 30.08.2022 16:34
The main altcoin continued its downward movement following Bitcoin, which broke through the $20k level amid disappointing statements by the head of the Fed. The situation around the altcoin looks more alarming given the presence of fundamental grounds for growth. However, the market is seeing signs of declining trading activity on the ETH network. A lot of questions are raised by the strategy of "whales," who are actively transferring ether coins to crypto exchanges, emptying cold wallets. Market participants regard this as an intention to sell large amounts of ETH and collapse the price.     The fundamental background in the form of the Merge update failed to save Ethereum from a direct correlation with stock indices. According to Santiment data, Ethereum closely follows the S&P 500 stock index. This proves the high level of Ethereum's dependence on macroeconomic events and also indicates that the upward movement of the cryptocurrency is limited by correlation with stock assets. Another negative factor was the announcement of the major crypto mining pool AntPool. The Bitmain subsidiary will not support client assets in Ethereum after the Merge update.     The resonant statement of AntPool is justified and goes far beyond the statement of one mining company. The fact is that the crypto community is seriously concerned about the issue of Ethereum censorship after the transition to PoS. This is largely dictated by the US sanctions policy regarding Tornado Cash. The position of Ethereum as one of the alternatives to the classical financial system, free from outside influence, has been significantly shaken. Investors are evaluating the risks of moving their assets to Ethereum 2.0 due to the chance of being censored and losing their funds. All these factors have become a catalyst for the decline in ether quotes last week.     However, the wide discourse around the ETH merger has favorably influenced the current position of the cryptocurrency. A temporary decrease in activity in the altcoin network led to a significant drop in fees. As of August 30, the transaction fee on the Ethereum network is $0.39. This provoked a lot of interest in the Ethereum network, due to which the number of addresses with a non-zero balance reached a new record at around 85,456,864. After a local pause, the Ethereum network also recorded an increase in trading volumes, which fully corresponds to the technical picture of what is happening with ETH.     Technically, Ethereum is showing resilience to selling pressure. The coin again fell to $1,500 but subsequently successfully defended this frontier. Following the results of August 29, a strong buying signal formed on the altcoin's daily chart. After testing the $1,500 level, Ethereum formed a "bullish absorption" pattern, suggesting the activation of buyers. It is important to note that the size of the bullish candle is twice the volume of the red candle for August 28. This is a positive signal that may indicate the emergence of an upward trend.   Just as importantly, thanks to the integrity of the $1,500 mark, ETH keeps the cup and handle pattern relevant. Therefore, the potential for an upward movement with a target up to $2,800 also remains relevant for the coming months. Despite the formation of a strong bullish signal, the technical charts do not look encouraging. The MACD indicator continues its downward movement in the red zone, which indicates that only a short-term upward trend is likely to form. The RSI index and the stochastic oscillator tried to develop an upward spurt during the formation of the "absorption" but subsequently acquired a flat direction.   Ethereum ends the last month of summer in uncertainty. Buying activity and institutional attention remain at a decent level, but this process does not find a significant reflection on the cryptocurrency charts. However, on the daily chart of Ethereum, we see clear signs of a decrease in correlation with the S&P 500. This is an important part of preparing for an upward movement before the confluence, as a drop in the level of correlation makes the altcoin more independent. As for the short term, ETH is able to reach the $1,700–$1,850 area. However, this week is full of important economic events that directly affect the quotes of ETH, SPX, and Bitcoin. For example, PMI data and non-agricultural employment data in the US economy will be released. These indicators play a key role in shaping Fed policy. With this in mind, we should expect increased volatility, in the coming days, rather than systematic growth towards certain targets. Relevance up to 09:00 2022-08-31 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/320276
The Ethereum Crypto Is Currently Testing The Fibonacci

The Down Trend On The Ethereum. The ETH/USD Pair Has Broken Above The Technical Resistanc

InstaForex Analysis InstaForex Analysis 01.09.2022 09:32
Crypto Industry News: Cryptocurrencies continue to face varying responses from governments around the world as some have accepted an emerging asset class while others try to ban certain aspects of their use to protect their financial interests. Japan sits firmly in the camp of promoting the benefits of cryptocurrency, as evidenced by a new proposal from the Financial Services Agency (FSA), a national financial regulator, which aims to ease the corporate tax on cryptocurrency profits to help bolster the economy. Based on a proposed revision, the FSA is trying to exclude companies from paying taxes on the paper-based cryptocurrency profits they hold after they are released. It also calls for the improvement of the scheme that gives tax credits to individual investors. The agency is taking this step to support Prime Minister Fumio Kishida's "New Capitalism" vision, which aims to revive the world's third largest economy. As part of his goal, Kishida is committed to helping Web3 businesses grow in the country and double the wealth of households. The current corporate tax rate of 30% is applied to profits from cryptocurrency holdings, including unrealized gains, prompting some companies to relocate to Singapore or other jurisdictions. This move by the FSA aims to combat this problem and encourage these companies to stay in Japan. Technical Market Outlook: The ETH/USD pair has broken above the technical resistance seen at $1,530 - $1,559, is up 13,67% and the market is consolidating the recent gains around the upper channel line. The next target for bulls is seen at the level of $1,654. The key short-term technical support is located at the level of $1,358 and if clearly violated, then the next target for bears is located at $1,281. The momentum is positive, however, there is a bullish divergence seen on the H4 time frame chart between the price action (last low) and momentum. The larger time frame trend (daily and weekly) remains down until further notice. Weekly Pivot Points: WR3 - $1,532 WR2 - $1,486 WR1 - $1,468 Weekly Pivot - $1,444 WS1 - $1,424 WS2 - $1,400 WS3 - $1,355 Trading Outlook: The down trend on the Ethereum might have been terminated at the level of $880. So far every bounce and attempt to rally is being used to sell Ethereum for a better price by the market participants, so the bearish pressure is still high. The next target for bears is located at the level of $1,358. The key technical support for bulls is seen at $1,281.       Relevance up to 08:00 2022-09-02 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/290943
Bitcoin Is Losing Market Share To Competing Altcoins

The Cryptocurrency Market Expects The Worst Decline In Bitcoin

InstaForex Analysis InstaForex Analysis 01.09.2022 14:31
Bitcoin price plunged below $20,000. It was another day of disappointing activity in the crypto market as prices dipped in the absence of any major events, which is typical of a crypto winter. The bulls should show more strength to break the downward trend, which is still evident on the daily chart. The bears still have a small overall short-term technical advantage. As for where the price could move next based on the current state of the market, analysts warn of the possibility of a decline to $11,000 at worst, while noting that at the moment, at best, support is at the 2017 high. Boring day in the altcoin market: Activity in the altcoin market largely reflected the performance of bitcoin, with most tokens trading flat the day after an early decline. Ethereum (ETH) staking platform Lido DAO (LDO) leads altcoins for the second day in a row, gaining 11.3% as the Ethereum merger date approaches. Other notable indicators include a 9.75% increase for MXC (MXC) and a 9.54% increase for the Curve DAO (CRV) token. The total market capitalization of cryptocurrencies currently stands at $985 billion, with a Bitcoin dominance rate of 39.3%.     Relevance up to 12:00 2022-09-02 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/320565
Ethereum’s Merge Is The Most Influential Events, The Change In Verifies The Transactions

The Merge Plans To Support Only NFTs That Are Based On The Ethereum Blockchain

InstaForex Analysis InstaForex Analysis 02.09.2022 11:09
Crypto Industry News: OpenSea, the world's largest NFT market, after The Merge enters into force, plans to support only those NFTs that are based on the proof-of-stake version of the Ethereum blockchain. "First and foremost, we are solely committed to supporting the NFT in the updated PoS [Proof-of-Stake] chain"- said OpenSea in a series of tweets published at the end of August. This is important information because the platform is a tycoon when it comes to NFT trading. So far, Ethereum-related NFTs have been sold on it for around $ 31 billion, The Block reports. All of this sum - which eclipses the volume of NFT transactions linked to other blockchains - is for NFT trading, which is backed by the current version of Ethereum, which is based on Proof-of-Work (PoW). The aforementioned The Merge - the final stage of Ethereum's transition from PoW to PoS - means that Beacon Chain and its validators will become the new foundations of the ETH blockchain network. This will affect many different cryptocurrency projects that are already busy preparing for the switch. An example of the above would be the Ethermine mining pool. As of this writing, there are 222,657 active miners on Ethermine, totaling 261.1 terra hash per second (TH / s). After September 15, the pool will still support PoW mining, but only ethereum classic (ETC), ravencoin (RVN), ergo (ERGO) and beam (BEAM) will be affected. Technical Market Outlook: The ETH/USD pair has broken above the technical resistance seen at $1,530 - $1,559, is up 13,67% and the market is consolidating the recent gains above the upper channel line. The local high was made at the level of $1,618, so the next target for bulls is seen at the level of $1,654. The key short-term technical support is located at the level of $1,358 and if clearly violated, then the next target for bears is located at $1,281. The momentum is positive, however, there is a bullish divergence seen on the H4 time frame chart between the price action (last low) and momentum. The larger time frame trend (daily and weekly) remains down until further notice. Weekly Pivot Points: WR3 - $1,532 WR2 - $1,486 WR1 - $1,468 Weekly Pivot - $1,444 WS1 - $1,424 WS2 - $1,400 WS3 - $1,355 Trading Outlook: The down trend on the Ethereum might have been terminated at the level of $880. So far every bounce and attempt to rally is being used to sell Ethereum for a better price by the market participants, so the bearish pressure is still high. The next target for bears is located at the level of $1,358. The key technical support for bulls is seen at $1,281.   Relevance up to 08:00 2022-09-03 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/291135
Turning DAI Into A Free-floating Asset, The Bellatrix Hard Fork Was Activated

The Uniswap Company Is Interested In Solving The Problems

Crypto.com Accelerate the... Crypto.com Accelerate the... 02.09.2022 11:19
 Compound launches Compound III, a more streamlined version of the protocol. Arbitrum set for a major upgrade on 31 August. Uniswap eyes NFT financialisation with talks of NFT lending protocols. Weekly DeFi Index This week’s price, volume, and volatility indices were negative at -11.84%, -11.68%, and -25.42%, respectively. Check the latest prices on Crypto.com/Price DeFi Index Tokens News Highlight Compound, a borrowing and lending protocol on Ethereum, launched a new version called Compound III. It’s a streamlined version of the protocol with an emphasis on security, capital efficiency, and user experience. The biggest change is that the collateral remains the borrowers’ property and nobody else can borrow or withdraw it. Additionally, borrowers won’t earn interest on their collateral, which could enable them to borrow more with less risk of liquidation. Ethereum layer-2 scaling solution Arbitrum is set for a major upgrade on 31 August. Referred to as the ‘Nitro’ upgrade, it alleges to increase transaction throughput, slash transaction fees, and simplify cross-chain communication between Arbitrum and Ethereum.  Decentralised exchange Uniswap engaged in talks with multiple NFT lending protocols to build NFT financialisation. According to a social post from Uniswap’s head of NFT product, the company is interested in solving both liquidity issues and the “information asymmetry” surrounding NFTs. DEX Protocols Metrics Sources: CoinGecko, DeFi Llama, Nomics, Crypto.com Research Lending Protocols Metrics *LDR (Loan to Deposit Ratio) = Total Borrowed / TVLSources: CoinGecko, DeFi Llama, Crypto.com Research Charts on Layer 2 Projects Overall, the L2 market continued the downtrend, dropping by -8.41% in the last week and the TVL of all L2 categories fell. Optimistic rollup projects dropped by -7.61% and zero-knowledge rollup projects decreased by -3.50%. Ethereum’s TVL fell by -4.69%. The TVL for all major optimistic rollup projects were negative last week, and Boba Network plunged the most at -16.50%. Similarly, almost all ZK rollup projects’ TVL declined except dYdX, of which its TVL kept stable and grew +0.21%. Loopring plummeted the most at -10.27%.
Will September Be A Challenge For Cryptocurrencies Market?

Will September Be A Challenge For Cryptocurrencies Market?

InstaForex Analysis InstaForex Analysis 02.09.2022 14:26
The cryptocurrency market came under pressure on Thursday along with global financial markets as the US dollar index surged to its highest level since September 2002, at 109.96. As the dollar rose, few assets were retained: the S&P 500, DOW and NASDAQ were all in the red, down 1.03%, 0.45% and 1.81%, respectively. History shows that September can be challenging for the financial markets. As for when volatility will subside, it may continue for some time as bullish traders are still overwhelmed by bears. Further evidence that Bitcoin sentiment remains negative was provided by crypto analytics firm Santiment, which showed an increase in average BTC funding rates. According to the average BTC funding rate on Binance, BitMEX, DYDX and FTX, the reaction to Friday's drop was the most aggressive since May, as repoted by Santiment. Ethereum shorts are accumulating. One of the biggest stories in cryptocurrency right now is the upcoming Ethereum (ETH) merger, projected to happen on September 15. At a time when many expected a "buy the rumor, sell the news" type of event, it starts to look like the merger has already been booked, prompting investors to position themselves ahead of a potential price drop. Santiment did warn to go along with the expected Ether price pullback, highlighting the fact that price increases have historically been more common under such conditions. In general, it was a negative day for the crypto market. A quiet day in the altcoin market: Of the top 200 coins listed on CoinMarketCap, Decred (DCR), which added $11.7, was the best performer for the day, followed by an 11% gain in Balancer (BAL). The total market capitalization of cryptocurrencies currently stands at $967 billion, with a 39% Bitcoin dominance rate.     Relevance up to 09:00 2022-09-03 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/320663
Ethereum's Merge Is Almost Here. What Is Ethereum Name Service (ENS)?

Ethereum's Merge Is Almost Here. What Is Ethereum Name Service (ENS)?

Conotoxia Comments Conotoxia Comments 03.09.2022 23:08
The impending Merge (transition from POW to POS) of ethereum seems to be affecting ENS domain sales. Major crypto companies are not staying idle in the face of the chain transition and are becoming big stakeholders in the test "Beacon Chain". Ethereum Name Service (ENS), is a project that offers naming and recognition services for ETH wallets, in an operation similar to Internet domain naming, or DNS (domain name service). August became the third-best month in its annual history after ENS domains accounted for 2744 ETH or around $4.3 million in revenue.  According to ENS data for the past month, as many as 301,000 new .eth domain registrations were made and 34,000 new accounts were opened using at least one ENS name. The total of all .eth registrations now stands at 2.2 million names. The biggest convenience of the Ethereum Name Service is the ability to identify an ETH wallet by a short unique name in the .eth domain, instead of by an approximately 42-digit code. This simplifies token and NFTs transfers, as well as facilitates payments. In addition to these benefits, .eth domains, like .com, .net or .org internet domains, could be sold and may have their own unique NFTs.  The mentioned Merge involves ethereum moving from a proof-of-work blockchain to a proof-of-stake which, in a nutshell, means a different system of validating (confirming) transactions that are more energy efficient and cheaper, due to the use of economies of scale. ENS address registrations appear to be accelerating steadily. The record to date was set in July, when some 378,000 new names were registered. Although the role of domains in Merge itself is rather small, their increasing number may be a sign of the growing interest in ETH and the move to a cheaper and more efficient proof-of-stake (POS) infrastructure. The inevitable centralisation of DeFi? According to data from Dune Analytics and Nansen, crypto companies provide more than 66% of the staked ETH. This means that most companies such as Lido, Coinbase and Binance are likely to be responsible for a large proportion of transaction validation on the new ethereum system. Such entities, called validators, are supposed to be a kind of 'thread' of the new POS system. They will be responsible for storing data, processing transactions and adding more blocks to the chain. Each validator is expected to hold a min. 32 ETH - at the current price, this is approximately $51,000. Holding tokens makes such entities large depositories across the blockchain. This news has raised discussion on social media regarding the centralisation of the new blockchain, because with so much validation of POS transfers from institutions, can we really talk about DeFi? It seems that the ETH developers are aware of this drawback, but in order to make ETH efficient, reduce costs and further develop the ecosystem, they have decided to move towards a proof-of-stake blockchain. On the Conotoxia MT5 platform, ETH is gaining around 0.5% today at 11:30 GMT+3, already drawing its sixth daily bull candle. The consolidation seems to have put the token's price above the 10 and 100-day moving averages. Rafał Tworkowski, Junior Market Analyst, Conotoxia Ltd. (Conotoxia investment service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82.59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Source: The Ethereum Name Service reports third-best month ever (conotoxia.com)
Cryptocurrency: Bitcoin Lost Almost 0.5%, ETH/USD Gained Ca. 6%

Cryptocurrency: Bitcoin Lost Almost 0.5%, ETH/USD Gained Ca. 6%

Alex Kuptsikevich Alex Kuptsikevich 05.09.2022 08:56
Market picture Bitcoin declined 0.4% over the past week, ending at around $19,900 without experiencing any significant movement during that time. For now, we can only say that the crypto market is wagering on the strengthening of the dollar, and to a markedly lesser extent than other markets. Ethereum added 5.9% to $1570, while other leading altcoins from the top ten showed mixed dynamics: from a decline of 1.3% (BNB) to a growth of 13% (Cardano). Total crypto market capitalisation, according to CoinMarketCap, rose 2.5% over the week to $976bn. The cryptocurrency Fear & Greed Index lost 8 points over the week to 20, returning to "extreme fear" status. Read next: ECB Will Continue To Hike Rates To Slow Inflation? | FXMAG.COM Bitcoin stood aloof from key market movements last week, moving on a short leash around $20K. Meanwhile, tectonic shifts were taking place in the markets as the dollar continued to renew multi-year highs and stock markets returned to a sell-off. Cardano rose sharply at the end of the week on the back of the news. IOHK, the company behind the Cardano project, has set a date for Vasil's update - the largest and most important hardfork in the project's history will take place on September 22. News background According to analytics service TipRanks, HODLers are refusing to sell the cryptocurrency. 62% of wallets hold bitcoins for more than one year. 32% of addresses control BTC for 1 to 12 months, and only 6% of investors hold cryptocurrency for less than 30 days. At the same time, both profitable and unprofitable addresses have a 48% share. Bitcoin miners' revenues in August amounted to $657 million and increased for the first time since March. The growth in revenues was helped by the growth of the first cryptocurrency's network hash rate. Despite the crisis, investor confidence in cryptocurrencies increased slightly over the quarter. 65% of retail investors and 70% of institutional investors trust digital assets, according to a survey by cryptocurrency exchange Bitstamp. Read next: Rising Interest Rates. How High Can They Rise?| FXMAG.COM Cryptocurrencies are helped by the aura that, in the long term, they are more promising than stocks and other risky assets, as they are at an early stage of adoption and still undervalued by the market. Ethereum co-founder Vitalik Buterin called the current bear cycle expected. In his view, Terra's collapse and market decline are a boon for the crypto industry, as they help identify problems and unsustainable business models well. With the rising capitalisation of the crypto market, the DeFi sector could pose long-term risks to financial stability, according to the US Federal Reserve.
The ETH/USD Pair Tried To Rebound After The Decline And Wallet Selector In Opera Crypto

FIFA Is Preparing To Open A New NFT Token Platform. The ETH/USD Pair Move To The Upside

InstaForex Analysis InstaForex Analysis 05.09.2022 11:06
Crypto Industry News: The International Football Federation (FIFA) is gearing up to open its new NFT token platform later this month. To start with, FIFA + Collect will release a number of initial token collections and reveal details of its upcoming exclusive and limited collections, the organization said in a published press release. The digital collections will represent unforgettable moments from soccer matches and feature iconic art and photos from the FIFA World Cup and the FIFA Women's World Cup. "This exciting announcement makes FIFA collectibles available to every soccer fan, demonstrating the possibility of owning part of the FIFA World Cup. [...] Fandom is changing and soccer fans around the world are engaging in new and exciting ways ... Like sports memorabilia and stickers, this is an opportunity available for fans around the world to connect with their favorite players, moments and more "commented Romy Gai, Chief Business Officer of FIFA. FIFA + Collect will be available on FIFA +, the federation's digital platform that provides access to live soccer matches from around the world, interactive games, news, tournament information and other original content. FIFA + Collect will initially be available in three languages - English, French and Spanish - with more coming soon, as well as on web and mobile devices. Technical Market Outlook: The ETH/USD pair had extended its move to the upside, was up 15,76% at one point during the weekend, however, the bulls were having problems with the technical resistance located at $1,654. The immediate technical support is seen at $1,530, but the key short-term technical support is located at the level of $1,425 and if clearly violated, then the next target for bears is located at $1,281. The momentum is positive, but not that strong and is hovers very close to the level of fifty. The larger time frame trend (daily and weekly) remains down until further notice. Weekly Pivot Points: WR3 - $1,624 WR2 - $1,598 WR1 - $1,581 Weekly Pivot - $1,572 WS1 - $1,555 WS2 - $1,546 WS3 - $1,520 Trading Outlook: The Ethereum market has been doing the lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. If the down move will extend, then the next target for bears is located at the level of $1,358. The key technical support for bulls is seen at $1,281.     Relevance up to 09:00 2022-09-06 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/291355
Altcoins: Ethereum Price (ETH/USD) Has Declined By Over 13% Since The Transition

Meitu Reported An Loss, In CME Bitcoin futures Dropped To The Lowest Level

Crypto.com Accelerate the... Crypto.com Accelerate the... 05.09.2022 13:58
ETH perpetual futures funding rates at record lows. BTC options skews spiking as puts are being bid up. BTC hovering around short-term RSI oversold levels. Chart of the Week: Perps Funding Rates at New Lows There has been a flurry of activity in ETH derivatives markets as the expected mid-September date of The Merge closes in. Perpetual futures funding rates are printing at record negative levels, potentially implying caution from traders as they look to hedge downside risks. Previous issues of Market Pulse highlighted record open interest in options and record negative futures basis.  Fund Flow Tracker Aggregated exchange balance of ETH fell sharply to new lows during the past week, while BTC’s saw a bounce. Derivatives Pulse The BTC put-call ratio and skews (puts-minus calls) rose over the past week, implying increased cautious sentiment. Implied vols for both BTC and ETH were mostly flat during the past week. 1-week implied vol currently stands at 60.3% (vs. 65.3% a week ago) and 89.1% (vs. 98.9% a week ago) for BTC and ETH, respectively. Asset managers’ net-long position in CME Bitcoin futures dropped to the lowest level since February 2022, and leveraged traders’ net-short position continues to reduce.  Leveraged traders are typically hedge funds and various types of money managers, including commodity trading advisors and commodity pool operators. The traders may be engaged in managing and conducting proprietary futures trading, and trading on behalf of speculative clients. The asset manager category consists of institutional investors, including pension funds, endowments, insurance companies, mutual funds, and those portfolio/investment managers whose clients are predominantly institutional. The dealer category consists of participants typically described as the “sell-side” of the market. These include large banks and dealers in securities, swaps, and other derivatives. The other reportable category consists of traders mostly using markets to hedge business risk, and includes amongst others corporate treasuries. Technically Speaking The drop in BTC price has it hovering around short-term oversold levels based on the 14-day Relative Strength Indicator (RSI). Price Movements News Highlights Chicago Mercantile Exchange Group (CME Group), the world’s leading derivatives marketplace, has launched Euro-denominated Bitcoin and Ether futures. Meitu reported an impairment loss of over US$43M on its crypto holdings. Credit Suisse disclosed that it held US$31M in “digital assets” for clients as at the end of Q2 2022. Stacked, a Web3 streaming platform, has completed a US$12.9M Series-A funding round led by Pantera Capital. Catalyst Calendar Disclaimer: The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners.
Ethereum’s Merge Is The Most Influential Events, The Change In Verifies The Transactions

The ETH/USD Pair Move To The Upside. The Faster Implementation Date Of Vasil Hard Fork

InstaForex Analysis InstaForex Analysis 06.09.2022 09:21
Crypto Industry News: The organization that builds the Cardano blockchain (ADA) Input Output Global has confirmed the date of the long-awaited Vasil hard fork. It will be carried out on September 22, which is roughly a week after Ethereum Merge. Cardano's price response looks quite lethargic despite the positive news, which perfectly illustrates the terrible sentiment on the cryptocurrency market. The quick deadline of the fork is all the more surprising because in the past developers reported postponing the event due to a significant amount of bugs and ambiguities during testing. At the same time, Cardano developers with Charles Hoskinson are rather meticulous, so the faster implementation date is rather a glove to Ethereum, because according to the developers it is Vasil's hard fork that is the most significant update of Cardano in history, which will ultimately increase network bandwidth and ensure lower transaction costs thanks to which it will increase the competitiveness against the recently popular Bitgert. Technical Market Outlook: The ETH/USD pair had extended its move to the upside again. The bulls had managed to rally 17.62% so far and are currently testing the technical resistance located at $1,654. The immediate technical support is seen at $1,530, but the key short-term technical support is located at the level of $1,425 and if clearly violated, then the next target for bears is located at $1,281. The momentum is positive and very strong, however the overbought market conditions can be seen on the H4 time frame chart. The larger time frame trend (daily and weekly) remains down until further notice. Weekly Pivot Points: WR3 - $1,624 WR2 - $1,598 WR1 - $1,581 Weekly Pivot - $1,572 WS1 - $1,555 WS2 - $1,546 WS3 - $1,520 Trading Outlook: The Ethereum market has been doing the lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. If the down move will extend, then the next target for bears is located at the level of $1,358. The key technical support for bulls is seen at $1,281.           Relevance up to 08:00 2022-09-07 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/291532
The Ethereum Crypto Is Currently Testing The Fibonacci

The Ethereum Crypto Is Currently Testing The Fibonacci

InstaForex Analysis InstaForex Analysis 06.09.2022 13:33
Technical outlook: Ethereum climbed through the $1,675 high during the early trading hours on Tuesday as was projected earlier. The crypto is seen to be trading close to $1,665 at this point in writing and is expected to push through $1,745 and up to $1,800 in the near term. As projected on the 4H chart here, the resistance zone is seen through the $1,800-05 area. Ethereum has already carved a meaningful downswing between $2,031 and $1,423 since August 14. The above drop is being worked upon and might retrace up to the Fibonacci 0.618 levels seen at about the $1,800 mark. Immediate price resistance is seen at $1,722 and a push higher will test $1,750 and above. The bears might be poised to come back in control thereafter. Ethereum is currently working to carve a counter-trend rally since printing lows at $1,423. The crypto is currently testing the Fibonacci 0.382 retracement of the above downswing and might correct lower. ETH is expected to resume towards $1,800 thereafter. Keep a watch at around $1,540 for intraday support. Trading plan: Potential rally through $1,800 against $1,400 Good luck!     Relevance up to 12:00 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/291596
The Situation Around ETH/USD Is Becoming More And More Bullish

The Situation Around ETH/USD Is Becoming More And More Bullish

InstaForex Analysis InstaForex Analysis 06.09.2022 14:38
The cryptocurrency market is approaching a controversial period—autumn. On the one hand, the market has cheered up due to the upcoming Merge update and the likely easing of monetary policy due to the US congressional elections in November. At the same time, Bitcoin has historically had a bad September. The probability of maintaining this trend increases significantly, given the high probability of a 75 basis point rate hike. Despite all the inconsistency of the situation, Bitcoin and Ethereum still have chances to spend September on a bullish note. Bitcoin remains within the narrow range of fluctuations of $19k–$20k. The area formed after the breakdown of the key support level at $20.8k. Bearish pressure forced the cryptocurrency to move to the consolidation stage, but the process is moving very slowly. Glassnode experts note that BTC network activity is at a local low. Given the volatile nature of the upcoming economic events, the probability of an increase in trading volumes increases significantly. The current lull is also fundamental. Markets are pricing in a 70% chance of a 75 basis point rate hike in September, according to BBG analysts. On Thursday, Fed Chairman Jerome Powell will speak at the Cato Institute conference. Given the market reaction to the official's previous speech, there is every reason to believe that Powell will give the market clues about the Fed's next steps. Given the pessimistic expectations of the market, hints of a rate hike within 50 basis points could have a positive impact on the short-term prospects for the cryptocurrency market. The ECB meeting will be the second major event on Thursday. The meeting of the Bank will consider the issue of the level of the key interest rate and the interest rate on the deposit line. Most experts are inclined to increase the indicator by 100 and 50 basis points, respectively. For the cryptocurrency market, this will be a negative signal, as it will untie the hands of the Fed and allow you not to look back at the position of the euro against the US dollar. For the most part, Thursday will show which direction the stock and crypto markets will move in the coming weeks. Technically, Bitcoin continues to trade sideways for the tenth day in a row. Trading volumes remain low, which does not allow one of the parties to take the initiative. Technical indicators continue to move sideways without the presence of impulse movements in any of the directions. At the same time, the stochastic oscillator once again tries to enter the green zone, forming a bullish crossover. However, given the trading volumes, this attempt will not be successful. With regard to BTC/USD, the bearish idea remains relevant with a gradual breakdown of the $19k–$19.5k support zone, after which the asset may retest the local bottom. As of September 6, Bitcoin does not have the potential to be bullish and consolidate above $20.5k. The long-awaited transition of Ethereum to the Proof-of-Stake algorithm begins today. Ethereum's bullish potential could increase significantly if the cryptocurrency manages to successfully complete the merger of networks as part of the first stage of the Merge. Against the backdrop of the process that has started, investor interest in ETH is starting to grow again. The cryptocurrency has successfully broken through the $1,600 level and continues its upward movement. Given the nervousness surrounding Ethereum's transition to the new algorithm, the importance of today's merger phase cannot be underestimated. If everything goes according to the planned scenario, then we can expect the continuation of the bullish movement to the $1,800–$2,000 range. Ether's technical metrics support the thesis that the recent drop in Ether was a healing corrective move. As of September 6, the bullish mood of ETH investors is again showing an upward trend. The Relative Strength Index crossed 40 and continues to move upward, indicating growing buying power. The stochastic oscillator indicates a high level of bullish sentiment and a fast implementation of bullish patterns. The situation around ETH/USD is becoming more and more bullish, and among the immediate targets of the asset, it is worth highlighting the range of $1,650–$1,700. If this area is broken, the price will go to the final resistance line for the last six months at $1,800–$2,000. These are the short-term goals of Ethereum with a favorable development of the situation. In the long term, the target of $2,800 remains relevant.   Relevance up to 10:00 2022-09-07 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/320933
Swiss SEBA Bank Announced The Introduction Of The ETH

Ethereum's Merge May Make ETH Officials-Friendly

ING Economics ING Economics 07.09.2022 09:21
The Ethereum blockchain is on the verge of a major and risky upgrade. This upgrade, if successful, would greatly reduce electricity use. This, in turn, would increase Ethereum’s acceptability to policymakers and financial institutions An ambitious upgrade to the world's second most important blockchain After a long period of anticipation, and if final tests go well, the world’s second blockchain Ethereum will probably transition from “proof of work” (PoW) to “proof of stake” (PoS) later this month. This means that transactions on the Ethereum blockchain will no longer be recorded by miners that spend a lot of computing power to prove they worked hard to verify transactions. After “the merge”, transactions will be processed by validators, that have staked Ether (in other words, put collateral in escrow) that can be forfeited if it turns out they were acting in bad faith. The discussion about the pros and cons of PoS vs PoW is almost as old as Bitcoin, and we can’t represent all arguments here. What we’re interested in, is that this transition to PoS may over time increase the acceptability of Ethereum, and all of the apps built on top of it, for policymakers and regulators. This in turn may provide a boost to traditional financial institutions' willingness to develop Ethereum-based services. Ethereum is not the first blockchain to adopt PoS. But it is generally considered the most important blockchain after Bitcoin, and Ethereum is a key building block of the decentralised finance universe. Moreover, Ethereum won’t go down for scheduled maintenance over the weekend to upgrade the network. Instead, as ethereum.org describes it, the new PoS-engine will be hot-swapped in mid-flight. A flight which hosts a variety of apps, tokens and platforms. What could go wrong? The stakes for the upgrade are high Indeed, while the Ethereum community has spent a lot of time testing PoS (the PoS testing ground called “beacon chain” has been running since December 2020), implementing such a fundamental upgrade while the network keeps running, is ambitious. As anyone who has ever tried to quickly upgrade the operating system on their computer will know, there are almost always unexpected hiccups that end up taking much more time than anticipated. We expect leading Ethereum developers to be pulling all-nighters glued to their screens during the upgrade. Another question during the upgrade is how Ethereum miners will respond. They have invested in dedicated hardware, typically GPUs, that can no longer be used for mining Ethereum after the upgrade to PoS. Some miners may decide to continue the PoW-based blockchain, creating a “fork”. Such a duplication of the blockchain with all its tokens creates a variety of problems e.g. for exchanges and traders. Luckily, the crypto community has gained experience managing such forks over the years. A successful upgrade would make Ethereum much more acceptable... Describing all these challenges, you may start to wonder why Ethereum embarked on this project at all. Apart from improved scalability, the main reason is a drastic reduction in electricity consumption. Ethereum.org claims a 99.95% reduction in electricity consumption following the switch to PoS. An important non-technical consequence of this great reduction in electricity need is that it may render Ethereum more palatable to policymakers and regulators. When the European Parliament discussed the EU’s incoming Markets in Crypto Assets Regulation earlier this year, sustainability was an important topic. Policymakers are uncomfortable with the PoW consensus mechanism’s high electricity use. To be sure, the pros and cons of PoW vs PoS are food for a fundamental and often heated debate, which has many more nuances than the –admittedly impressive– kWh figures suggest. We cannot do justice to this debate in this short piece. It is clear though that the switch to PoS removes power consumption as a problem for regulators. This, in turn, removes one stumbling block for traditional financial institutions and other companies to offer Ethereum-based services, although other obstacles may remain. ...though Proof-of-Stake is not the answer to life, the universe and everything either So what’s not to like about PoS? Apart from migration risks, PoS has its own challenges. For example, its code is much more complex than PoW. This may create new vulnerabilities. Hackers will certainly be exploring the new infrastructure for flaws. Another issue is that PoS creates a new form of inequality. With PoW, there once was a sense that everybody can join in and start mining. With PoS, in contrast, the “wealthy” can stake a lot of Ethereum and reap most of the validation rewards, further increasing their wealth. Yet the reality is more nuanced. PoS staking pools do provide opportunities for those with less Ether to spare. And with PoW on the other hand, the days that an old laptop was sufficient for mining, are long gone. Some people worry about increased possibilities for censorship by PoS validators. Yet in principle, PoW miners could apply censorship as well. It is also not evident that PoS will lead to a more concentrated validator landscape than PoW, where miners have been cooperating in mining pools for a long time. In the end, it’s less the technology that makes the difference, but rather the attitude –and regulation– of those using it. More generally, there is a tradeoff between censorship resistance and the application of anti-money laundering and sanctions policies which are required to render cryptocurrency acceptable to regulators. In the end, compromises need to be struck here.   Ethereum’s upcoming migration from PoW to PoS may be the biggest planned event in cryptoland this year. The migration itself and its aftermath carry risks, and will be closely watched within the crypto community. A successful migration would be a compliment to the Ethereum community’s ability to manage big events. It would also remove an important obstacle to acceptability of Ethereum to regulators and hence development of Ethereum-based services by traditional financial institutions. Read this article on THINK TagsSustainability Regulation Cryptocurrency Banks Disclaimer This publication has been prepared by ING solely for information purposes irrespective of a particular user's means, financial situation or investment objectives. The information does not constitute investment recommendation, and nor is it investment, legal or tax advice or an offer or solicitation to purchase or sell any financial instrument. Read more
The ETH/USD Pair Tried To Rebound After The Decline And Wallet Selector In Opera Crypto

How Does The Ethereum Market Look Like Today?

InstaForex Analysis InstaForex Analysis 07.09.2022 09:50
Crypto Industry News: The Ethereum merger could force many cryptocurrency miners to give up and abandon their expensive mining rigs in the midst of a profit race. The transition of the Ethereum network from Evidence-of-Work (PoW) consensus is likely to flood the crypto industry with idle Etherum (ETH) miners, causing severe disruption to all PoW tokens. Andy Long, CEO of White Rock bitcoin mines, said in an interview that the upcoming Ethereum merger will force PoW miners to look for more profitable ways, such as other PoW blockchains, and thereby "flood" other coins - increasing the difficulty of mining and reducing profitability: "The hash rates will flow to alternative coin PoW GPUs, and many miners will simply give up and try to sell their graphics farms," he said. However, there are still many cryptocurrencies that will continue their PoW path, including BTC, Litecoin (LTC) and Bitcoin Cash (BCH), as well as Ethereum Classic (ETC), Monero (XMR), Zcash (ZEC) and Ravencoin (RVN) . Technical Market Outlook: The ETH/USD pair had managed to rally 17.62% before the rally was capped at the level of $1,685 and the Gravestone Doji candlestick pattern was made on the H4 time frame chart. The market reversed almost all of the recent gains and broke below the technical support located at the level of $1,530. The next target for bears is seen at the level of $1,476 and at the last swing low located at $1,425. The momentum is weak and negative, which supports the short-term bearish outlook for ETH. Weekly Pivot Points: WR3 - $1,624 WR2 - $1,598 WR1 - $1,581 Weekly Pivot - $1,572 WS1 - $1,555 WS2 - $1,546 WS3 - $1,520 Trading Outlook: The Ethereum market has been doing the lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. If the down move will extend, then the next target for bears is located at the level of $1,358. The key technical support for bulls is seen at $1,281.       Relevance up to 08:00 2022-09-08 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/291735
Turning DAI Into A Free-floating Asset, The Bellatrix Hard Fork Was Activated

Turning DAI Into A Free-floating Asset, The Bellatrix Hard Fork Was Activated

Crypto.com Accelerate the... Crypto.com Accelerate the... 07.09.2022 11:42
Bellatrix goes live on Ethereum’s Beacon Chain. MakerDAO’s co-founder Rune proposes ‘Endgame Plan’ to free-float DAI. KyberSwap suffers front-end hack and attacker moves US$265,000 worth token. Weekly DeFi Index This week’s price and volume indices were negative at -4.42% and -15.98%, respectively, while the volatility index was positive at +30.46%. Check the latest prices on Crypto.com/Price DeFi Index Tokens News Highlight The Bellatrix hard fork, the last major upgrade before Ethereum’s The Merge, was activated at epoch 144896 on the Beacon Chain. The purpose of this upgrade is to ensure validators are producing updated Beacon Chain blocks that will set up the codebase ahead of The Merge. Now, the last step is Paris, which will trigger the migration from proof-of-work to proof-of-stake upon hitting a specific Terminal Total Difficulty of 58750000000000000000000 (expected between 10 to 20 September 2022). Following the sanction on Tornado Cash in August, MakerDAO Co-founder Rune Christensen proposed an “Endgame Plan” to save DAI from regulatory capture. The plan would gradually reduce the real-world assets exposure, with the eventual goal of turning DAI into a free-floating asset. The proposal has received divergent opinions from the MakerDAO community. Kyber Network, the liquidity protocol on which KyberSwap is built, confirmed a front-end hack on 2 September. The attacker compromised the app’s front-end through the Google Tag Manager (GTM) script, which is generally used to track user activity and data for analytical purposes. Although Kyber identified the malicious codes and fixed them in a few hours, the hacker managed to move US$265,000 worth of Aave Matic interest-bearing USDC (AMUSDC) tokens in four transactions. Charts on Layer 2 Projects Overall, the L2 market TVL downtrend narrowed down, dropping by -2.38% in the last week. Optimistic rollup projects dropped by -1.37% and zero-knowledge rollup projects decreased by -4.36%. Ethereum’s TVL increased by +1.71%. The TVL for all major optimistic rollup projects were negative last week, and Metis Andromeda declined the most at -4.28%. In ZK rollup projects, StarkNet was under the spotlight as its TVL grew by +4.49%, followed by ZKSwap 2.0 (+0.8%). Loopring and dYdX saw a decline in TVL at -4.95% and -4.97%, respectively.
What Is Wrapped Ether, Has It Much Utility And Efficiency?

Ethereum Classic (ETC) Saw Its Token Value Increase

InstaForex Analysis InstaForex Analysis 08.09.2022 09:23
Crypto Industry News: Industry experts warn of the potential consequences of the Ethereum merger for other cryptocurrencies that run on Proof of Work (PoW) consensus algorithms. With Ethereum moving to the proof-of-stake Beacon Chain, many miners will have a problem. Those who have secured the Ethereum blockchain will look to continue mining in other PoW chains. Ethereum Classic (ETC) saw its token value increase by more than 10% in early September when blockchain explorer and mining pool operator BTC.com launched the zero-fee ETC pool over a three-month period. Technical Market Outlook: The ETH/USD pair had reversed almost all of the recent losses and is currently back below the last local high seen at the level of $1,685. The nearest technical support is located at the level of $1,513 and $1,475. The momentum is strong and positive again on the H4 time frame chart, so the bulls are ready to break above the local high from $1,685 and test the nest technical resistance located at $1,722. Weekly Pivot Points: WR3 - $1,624 WR2 - $1,598 WR1 - $1,581 Weekly Pivot - $1,572 WS1 - $1,555 WS2 - $1,546 WS3 - $1,520 Trading Outlook: The Ethereum market has been doing the lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. If the down move will extend, then the next target for bears is located at the level of $1,358. The key technical support for bulls is seen at $1,281.     Relevance up to 08:00 2022-09-09 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/291899
Ethereum Confidently Maintained Its Bullish Positions

Ethereum: The Bulls Are Looking Poised To Remain In Control

InstaForex Analysis InstaForex Analysis 08.09.2022 14:22
Technical outlook: Ethereum has rallied through the $1,657 highs after recovering from the $1,489 lows on Wednesday. The price action is in line with our projection as the bulls prepare for another push towards $1,700-10 in the near term (intraday). The bulls are looking poised to remain in control holding prices above the $1,489 interim lows going forward. the price is looking higher towards $1,750 and $1,800. Ethereum has carved a larger-degree downswing between $2,031 and $1,423 as seen on the 4H chart here. Since then, the crypto has been unfolding a corrective rally, which seems to have completed two waves at $1,722 and $1,489. Further, the bulls are now progressing into the final wave towards $1,800, which is also the Fibonacci 0.618 retracement of the earlier drop. Ethereum is currently working on its first lower-degree upswing between $1,489 and $1,657-1,700. Once the price action is over, prices could drop lower in a corrective manner but they still stay above $1,489. The bulls will be poised to be back in control thereafter and push through $1,800 before giving in to the bears. $1,489 should remain intact for the above structure to hold. Trading plan: Potential rally towards $1,800 against $1,489 Good luck!     Relevance up to 14:00 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/291999
Swiss SEBA Bank Announced The Introduction Of The ETH

Swiss SEBA Bank Announced The Introduction Of The ETH

InstaForex Analysis InstaForex Analysis 09.09.2022 09:39
Crypto Industry News: Swiss SEBA Bank announced the introduction of the ETH staking service for institutional clients. This will happen exactly when Ethereum's transition to the Proof-of-Stake consensus model is achieved. The bank today published a press release in which it informs that this move is a response to institutional demand. They show interest in such services as cryptocurrency staking and DeFi. The bank's platform to manage staking options will give its users the ability to use a variety of protocols, including Ethereum, Polkadot and Tezos. In the future, the Swiss company intends to launch similar services for additional protocols. Commenting on the growing demand from their customers for this type of service and the upcoming the Merge, director of technology and customer solutions at SEBA Bank, Mathias Schutz said: "The Merge Ethereum is an anticipated and significant milestone for the world's second largest cryptocurrency, providing users with improvements in the areas of security, scalability and sustainability. Launching our Ethereum staking services will enable institutional investors to play a key role in securing the future of the network through a trusted, trusted, secure network. a safe and fully regulated counterparty ". SEBA Bank is a cryptocurrency financial institution that is fully regulated by government institutions. It offers a wide range of solutions, including trade and credit services. By directing its activities towards Ethereum, the bank counts on acquiring new institutional clients who want to help secure the network. Technical Market Outlook: The ETH/USD pair has been seen trading at the level of $1,720, which is abive the 100 DMA already. The next target for bulls is seen at the level of $1.722 (technical resistance), $1,785 and $1,819. The nearest technical support is located at the level of $1,513 and $1,654. The momentum is strong and positive again on the H4 time frame chart, so the short-term outlook for ETH remains bullish. Weekly Pivot Points: WR3 - $1,624 WR2 - $1,598 WR1 - $1,581 Weekly Pivot - $1,572 WS1 - $1,555 WS2 - $1,546 WS3 - $1,520 Trading Outlook: The Ethereum market has been doing the lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. If the down move will extend, then the next target for bears is located at the level of $1,358. The key technical support for bulls is seen at $1,281.9 Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade     Relevance up to 09:00 2022-09-10 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/292120
Ethereum Confidently Maintained Its Bullish Positions

Ethereum Confidently Maintained Its Bullish Positions

InstaForex Analysis InstaForex Analysis 09.09.2022 11:29
While Bitcoin fell below $19k and was on the verge of falling to the local bottom, Ethereum confidently maintained its bullish positions. After a local recovery impulse of the first cryptocurrency, the main altcoin resumed its upward movement. The asset has reached the upper boundary of the resistance zone and, as of this writing, is trying to gain a foothold above the $1,700 level. In general, the altcoin successfully implements the bullish market momentum ahead of the Merge update. However, should we expect a full-fledged upward movement of the cryptocurrency shortly before the merger? From the fundamental point of view, the answer to this question seems not so obvious. Two days ago, the Bellatrix update took place on the Ethereum network, which became the final chord of preparing the altcoin for the transition to PoS. The upgrade was successful, but investors had some doubts. They were dictated by a significant increase in the number of missed blocks in the ETH network after the Bellatrix update. The indicator increased by 1,700%, and the number of blocks that did not pass the check on the first attempt reached 9%, against the norm of 0.5%. The Ethereum developers said that the problem was related to nodes that did not install new software. It is reported that about 25% of the nodes are using the old collateral, but even a small percentage caused failures in the ETH network. Questions about the decentralization of Ethereum are also gaining momentum, because more than 50% of all ETH nodes are made up of the United States and Germany. Amazon is the end user of more than 50% of Ethereum nodes, and the Geth open source project remains the main enabler for most of the nodes. However, judging by the growing volumes of trading and the increase in addresses, the market is not very worried about the possibility of transactional censorship. The situation with the update of Ethereum remains stable and interest in the main altcoin is growing. Given the fundamental interest of investors in Ethereum, a similar situation should be observed in technical metrics. On the daily chart, Ethereum remains bullish. The price managed to hold the key support level at $1,400. Thanks to this, the "cup and handle" pattern remains relevant and, consequently, the bullish potential of the price movement to $2,700-$2,800. Technical indicators also confirm the bullish market sentiment. The Relative Strength Index crossed the 50 level and continues to move up, which indicates growing buying volumes. The stochastic oscillator is also successfully implementing bullish impulses and is approaching the overbought zone. Given the proximity and fundamental nature of the Merge update, the metric will remain close to this zone until the merge is completed. An important and positive signal for the ether was the fall in the level of Bitcoin dominance to 36%. Subsequently, the metric recovered to 39%. However, this is direct evidence that Ethereum is temporarily at a higher investment preference than Bitcoin. In other words, the main flows of investments, including institutional ones, are directed to the main altcoin. This thesis is also confirmed by colleagues from Chainalysis, who are sure that ETH has taken on the burden of temporary leadership. Experts report that due to the improvement in the technical characteristics of ETH, including staking, altcoin will become even more popular among large players. This thesis is confirmed by the on-chain metric showing the number of addresses with 1000+ ETH. A significant increase in the number of addresses with this amount of ether coins indicates a high level of confidence in the upcoming update. However, it may also indicate investors' plans to take advantage of the staking feature after the merger. For ETH, this is doubly positive news, as profitable staking will allow the asset to avoid a sharp and massive sell-off. However, we should expect a slight drop in the price of Ether after the update due to market conditions. Ethereum on-chain metrics also show positive dynamics. Trading volumes have taken a sharp upward direction, but still do not reach the levels of mid-July, when the altcoin was at its peak of growth. The number of unique addresses in the cryptocurrency network remains high, but practically unchanged. The indicators of the main on-chain metrics indicate the initial stage of the emergence of an upward trend. It is likely that the numbers will continue to rise ahead of the merger and will peak on September 15–16. It is then that we should expect a peak in the growth of ETH/USD quotes. Given the fundamental reasons for growth and investors' faith in a successful upgrade, there is no doubt about the local bullish trend of ether. On the eve of the merger, the asset will consolidate and gradually approach $1,800–$2,000. Given the successful movement in this area a few weeks ago, one can be sure of ETH/USD consolidation above $2,000. The main targets of Ethereum within the bullish movement due to the Merge update are the $2,000-$2,100 and $2,400-$2,500 areas. Most likely, the price is able to go higher and stab higher levels, but the main potential ends in the $2,400-$2,500 area. Ethereum update will have a positive effect on the cryptocurrency and DeFi/NFT market, but given the macroeconomic background, fundamental shifts should not be expected.       Relevance up to 09:00 2022-09-10 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/321260
What Is Wrapped Ether, Has It Much Utility And Efficiency?

What Is Wrapped Ether, Has It Much Utility And Efficiency?

Kucoin Blog Kucoin Blog 10.09.2022 15:05
If you have ever used the Ethereum blockchain, you must have noticed that most of the tokens used in trading and investing are ERC-20-based tokens. This token standard has become the most used option in decentralized applications (dApps), wallets, and crypto protocols due to its many functions. However, Ethereum blockchain’s native token, Ether (ETH), in a tough position as it doesn’t align with ERC-20 token standards. Regardless, users continue to demand to use Ether in the decentralized finance (DeFi) and crypto space. This is where Wrapped Ethereum (WETH) comes in. Wrapped Ether has become one of the favorites of investors and developers on the Ethereum blockchain as it presents a lasting solution to the use of Ether in the DeFi sector. WETH is pegged to Ethereum’s price and is an ERC-20 token. Users can easily convert Wrapped Ether back into Ether. This article is an in-depth introduction to everything Wrapped Ethereum. Keep reading to find out more! Welcome to our brand-new educational series on Ethereum, which is a consumer awareness initiative to help understand everything about the inner workings of the Ethereum blockchain, Ether token, and much more. What are Wrapped Tokens Before we get into the nitty-gritty of Wrapped Ether, let us start with understanding the wrapped token concept. Wrapped tokens are digital assets that allow for the movement of value from one blockchain to another, a form of blockchain interoperability. The most popular wrapped token is the Wrapped Bitcoin (WBTC), which is pegged 1:1 to the price of Bitcoin (BTC), giving 1 WBTC the same value as 1 BTC. WBTC solves the interoperability limitation of Bitcoin by allowing BTC holders access to other blockchain ecosystems through its ERC-20 or TRC-20 functionality. Wrapped coins have been compared to Stablecoins, and they fit this description in a way. Stablecoins, such as the USDT, track the value of a real-world asset like the dollar, making $1 the same as 1USDT. What makes wrapped tokens fascinating is not the fact that they are pegged 1:1 to the value of another asset. Instead, it is the technology behind these assets, and the way value is backed and preserved. Classification of Wrapped Tokens Broadly speaking, there are two kinds of classes that all wrapped tokens fall into, including cash-settled and redeemable. The former, cash-settled wrapped tokens, cannot be redeemed for the underlying asset after conversion. This makes cash-settled tokens a permanent one-way street kind of token. On the other hand, redeemable wrapped tokens — as the name suggests — can be converted back into the original asset. Meanwhile, blockchains determine the functionality of a token being wrapped, by playing host. For example, wrapped privacy tokens are hosted in the Monero or ZCash blockchains. Usually, the wrapping process is done to tokens with notable utility outside their native blockchains. Here’s a quick look at some of the types of wrapped tokens available on the market: Centralized/Custodial Wrapped Tokens One of the most popular examples of a centralized or custodial wrapped coin is the wrapped Bitcoin (WBTC), an ERC-20 token. The value of this token class is sustained by two parties: a custodian and a merchant. Both parties validate transactions on this wrapped coin class using the Proof-of-Stake (PoS) mechanism and ensure the underlying coin is stored securely. To convert a coin into its wrapped form in this setting, the coin will be delivered to a merchant. This merchant stores the said coin as collateral with a custodian that supplies the desired wrapped coin. Non-Custodial Wrapped Tokens As the name suggests, this wrapped token class does not involve any third-party custodial services. Minting of non-custodial wrapped tokens is handled on a DAO. Hybrid Wrapped Tokens Hybrid tokens operate with both a centralized custodian and a DAO, infusing the best of both custodial and non-custodial wrapped token types. Hybrid tokens affect the most interoperability and flexibility across chains. However, this wrapped token type is relatively unknown and not acceptable or compatible with many DeFi projects and decentralized applications. Wrapped Ethereum (WETH): The Basics Drawing the meaning from wrapped tokens, Wrapped Ether is the tokenized version of Ether and is pegged 1:1 to the price of ETH. Unlike Ether, WETH cannot be used to settle gas fees. Thanks to its ERC-20 functionalities, WETH is suitable for advanced blockchain transactions in the DeFi space. Despite being the progenitor of the ERC-20 token standard, the ETH token was created too early before the advent of the ERC-20 idea, cutting it out of many functions. Creating and Minting Wrapped ETH Creating (minting) Wrapped Ether rests in the hands of the users of Ethereum and is a seamless and quick process. ETH holders simply have to send their tokens to a specific smart contract, which automatically generates WETH and credits it to the user’s wallet. The smart contract serves as a custodian and locks up the ETH, thereby ensuring every single WETH in existence is backed by ETH reserves. To maintain the WETH peg to the value of ETH, all WETH is burned (destroyed) whenever it is exchanged for ETH. An easier method of acquiring Wrapped Ether is to swap another token, Ethereum, or any other tokens in your possession, using coin exchangers. Some popular options for swapping your tokens for WETH include Uniswap or Sushiswap. How are Wrapped ETH (WETH) and Ethereum (ETH) Different? Some traders grapple with understanding the difference between ETH and WETH. Let’s start by understanding what Ethereum is. Today, many crypto projects prefer to create unique native tokens for facilitating transactions on the blockchain. In this sense, Ethereum created Ether (ETH) as the native cryptocurrency for its network. That said, customers interested in facilitating transactions directly on the Ethereum blockchain must use ETH to complete the process. Ether has grown into a massive asset and is used in several settings, such as for payments of goods and services on the Ethereum network, settling gas fees, and speculation. Now that we know what Ethereum is, Wrapped Ethereum is the wrapped version of Ethereum. Think of a candy wrapped in a plastic wrapper; the candy is ETH while the wrapper is WETH. As mentioned at the outset, Ethereum is not an ERC-20 token, limiting its use in the DeFi and crypto world. This is the primary solution WETH offers, as it is an ERC-20-standard token, allowing ETH holders access to previously restricted niches of the market. Wrapping ETH WETH tokens are created by depositing ETH into smart contracts. These smart contracts act as a custodian and lock the deposited ETH in a secure address, which can be exchanged back into WETH on request, given the wrapped tokens are backed 1:1 by the ETH deposited. That said, converting WETH back to ETH essentially destroys or burns the tokens. Wrapping and unwrapping Ethereum comes at a small cost which varies across conversion platforms. Meanwhile, users can choose to swap ETH for WETH through a decentralized exchange (DEX). Users can also swap their tokens for the value equivalent in WETH using Uniswap, OpenSea, and MetaMask. Described below is a step-by-step guide to wrapping ETH through MetaMask: If you don’t already have a MetaMask account, create one and sign into your wallet. Confirm that you have funds available in the wallet. If you don’t, you can buy ETH using your credit or debit card, or you could send ETH from an external wallet. Log on to a decentralized exchange, such as Unswap, and link your funded MetaMask wallet with it. Then, you need to choose the Ethereum mainnet as the preferred platform before clicking swap. Once this is done, a prompt bearing the options of tokens is displayed. Select WETH from the drop-down option in the ‘Swap to’ box. Select the amount of ETH on your MetaMask wallet you want to wrap and select ‘Review Swap.’ After this, a prompt bearing the details of the final transaction is displayed. Confirm that the displayed amount is what was originally chosen and other conversion details. The transaction will not go through if you do not have enough funds. A prompt to add more funds will be displayed. Once confirmation is settled, complete the transaction by clicking the ‘Swap’ icon. The newly-minted WETH will be credited to your MetaMask wallet. Unwrapping ETH Say you want to convert your WETH back to ETH after the transaction you needed the ERC-20 token for is done, all you need to do is unwrap your WETH. Unwrapping a coin is the process of burning the wrapped coin and receiving the original version in your wallet. As for wrapping Ethereum, there are several ways to unwrap WETH, including: The manual process through interaction with a smart contract. Exchanging WETH for ETH on a DEX. Unwrap WETH on MetaMask on OpenSea. In this article, we’ll focus on the third option for unwrapping Ether. The process is as follows: Open the OpenSea website and log into your account. If you don’t have an account, create one and continue with the described process. Locate and click on the wallet icon. Though it varies for some devices, it should be at the top right corner of your screen. A prompt will appear requesting you log in using your wallet. Select MetaMask and proceed. You should already have a MetaMask wallet from wrapping Ethereum. If you don’t, create one and proceed. Sign into your wallet using your password. After that, you should see your fund details displayed on the screen. If you have insufficient funds, deposit more WETH and proceed. Click on the ‘option’ icon (usually represented by three bold dots) that appears under your WETH details. Select ‘Unwrap.’ Another prompt with the transaction details would be displayed on your screen at this point. Carefully examine the details of the transaction and ensure everything is correct. Click on ‘Unwrap.’ Once this is done, click on ‘Confirm’ to transfer the original token (ETH) to your wallet. You should be credited shortly after this. This is the best and fast and best way to unwrap and wrap ETH. Pros and Cons of Wrapped ETH (WETH) DeFi Activity Enhancement The Ethereum network is the broadest DeFi ecosystem on the block today, with the most compatibility. Unlike Bitcoin, Ethereum’s functionality is not limited to registering and validating transactions on the blockchain. WETH further improves Ethereum’s unparalleled functionality and reach by increasing its usability, leading to more advancements and innovations in the decentralized finance ecosystem. Interoperability Wrapped Ether delivers interoperability with standardized coins, allowing for the seamless flow of resources between blockchains innovatively. This inevitably improves blockchain processes and reduces the margin for errors substantially, creating room for more innovation and improvements in Ethereum’s DeFi ecosystem. Elimination of Third Parties Another critical benefit WETH renders is that it allows for decentralized transactions without the need for any third-party facilitator or mediator. Transaction Efficiency It needs no mention that wrapped coins like WETH allow transactions to be facilitated more efficiently, thanks to the immense compatibility and interoperability they have. Risks Associated with Wrapped ETH Custodial Risks As mentioned earlier, smart contracts — that serve as custodians — are needed for the process of wrapping or unwrapping Ether. That said, issues arising from the underlying WETH smart contract in a transaction could put users’ funds at risk. A smart contract is only as good as its host blockchain, making it advisable to always use more reliable exchanger platforms. Centralization Risks The primary function of the DeFi space is in its name: decentralization. The reliance on platforms to hold, mint, and burn tokens brings about some form of centralization, which defeats the whole purpose of decentralization. For example, say $2 billion worth of WETH is domiciled in a centralized entity or smart contract provider. This gives the custodian in question some degree of control over these funds. Associated Transaction Fees The wrapping and unwrapping process of Ethereum is not free; there are transaction fees associated with it. It requires gas fees, which could be exorbitant sometimes. Transaction fees and slippages from frequent wrapping and unwrapping processes can snowball into large sums and eat at funds. Will WETH Always Remain Pegged To Ether? Short answer: yes. It has to. As mentioned earlier, wrapped Ether works similarly to a Stablecoin, as it has to remain as close as possible to the price of the original asset, or else it all falls apart. This is the reason for the minting and burning of WETH on every transaction; to make sure demand and supply are tamed. In a scenario where WETH loses its peg, even if only slightly, and becomes cheaper than ETH, investors will immediately capitalize on the arbitrage opportunity and purchase more WETH and sell for ETH to make a quick profit. This would trigger a massive demand for WETH, which would, in turn, boost the price of the instrument, returning it to the peg. The same is true when the price of WETH becomes higher than Ether, with investors purchasing Ether and converting it to WETH coins for profits, lowering the price of WETH. This primary demand and supply principle is the sustaining factor in ensuring a relatively stable peg between these assets. Final Thoughts WETH brings so much utility and efficiency to the Ethereum network users. Because of its ERC-20 quality, WETH can essentially be used across most blockchains, a feature lacking in Ethereum. As discussed in the article, switching between ETH and WETH is a straightforward process that requires no technical knowledge or skills. Also, both wrapping and unwrapping processes adhere to the 1:1 rule, meaning you will always get the number of tokens desired outside transaction costs. With Ethereum — the largest DeFi and smart contract ecosystem — constantly reinventing itself, more use cases for WETH in staking, NFT auction bidding, providing liquidity, yield farming, and crypto lending will continue to emerge.
The ETH/USD Pair Tried To Rebound After The Decline And Wallet Selector In Opera Crypto

Ethereum Is Struggling With Its Impending Merger, The ETH/USD Pair Has Been Seen Trading Above The 100% Fibonacci Projection

InstaForex Analysis InstaForex Analysis 12.09.2022 09:48
Crypto Industry News: Ethereum is struggling with its impending merger. This time the problem is with miners. Among them is a group that believes that switching to Proof-of-Stake may prove to be a threat to them. Chandler Guo, who spearheads efforts to maintain the current Proof-of-Work mechanism, believes that after the transformation, miners will be "broke" because the "multi-billion dollar" industry will disappear overnight. Despite this, the Ethereum Foundation remains optimistic about the upcoming changes. According to her, such a move will reduce blockchain energy consumption by 99.95%. This would be a step that could make this technology more environmentally conscious for companies. But Guo said the miners, who are "the community's largest stakeholder," are being pushed out of the business. He further stated that he knows that critics like him outnumbered major crypto companies including OpenSea, Tether, and Circle that back The Merge. Justin Sun, founder of the Tron ecosystem, also believes that Ethereum should remain in the PoW model. In a media podcast, he stated that the ETH was heading into uncharted territory. It could therefore turn out to be a catastrophic event given what happened to the "foundation of the crypto industry." However, Sun believes the transition to merge will work fine: "We can be 99% sure it will be a good start". Technical Market Outlook: The ETH/USD pair has been seen trading at the level of $1,785, which is above the 100% Fibonacci projection located at $1,753. The rally had ended with a Pin Bar candlestick pattern on the H4 time frame chart, so a pull-back towards the technical support seen at the level of $1,722 was done. The momentum is coming off the extremely overbought conditions, but is still strong and positive, so the outlook remains bullish for ETH on the short-term time frames. The next target for bulls is located at the level of $1,819 and $1,825. Weekly Pivot Points: WR3 - $1,875 WR2 - $1,807 WR1 - $1,765 Weekly Pivot - $1,738 WS1 - $1,697 WS2 - $1,670 WS3 - $1,601 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. If the down move will extend, then the next target for bears is located at the level of $1,358. The key technical support for bulls is seen at $1,281.9 Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade       Relevance up to 09:00 2022-09-13 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/292309
Will Bank Of Japan Remain Committed To Its Easy Policy?

Power Producers Need To Buy Carbon Permits, In China Loans To Households Remained Sluggish

Saxo Bank Saxo Bank 12.09.2022 10:01
Summary:  Ukrainian success in taking back significant territory from Russia over the weekend has driven a cautious further recovery in the euro and sterling at the open of trade this week. Elsewhere, yields have jumped higher, helping drive new yen weakness and taming risk sentiment as the US 10-year treasury benchmark trades near the cycle highs since June. Focus this week is on tomorrow's US August CPI release, the most important data point ahead of next week’s FOMC meeting.   What is our trading focus? Nasdaq 100 (USNAS100.I) and S&P 500 (US500.I) US equities Friday on a strong note up 1.5% and S&P 500 futures have extended their gains overnight touching the 4,100 level because before receding to around the 4,085 level in early European trading hours. The US 10-year yield continues to move higher trading at 3.34% and if it sets a new high for the recent cycle it will probably cause headwinds for US equities so watch the US bond market. Next big macro event is tomorrow’s US August CPI report which is expected to print –0.1% m/m suggesting inflation is beginning to cool. Hong Kong’s Hang Seng (HSIU2) and China’s CSI300 (03188:xhkg) Hong Kong, Shanghai, and Shenzhen are closed today for the mid-autumn festival holiday. Last Friday, Hang Seng Index soared 2.7%, snapping a six-day losing streak following China’s August inflation data surprising to the downside and raising hope for more monetary easing to come from the Chinese policymakers. Chinese property names rallied on market chatters about unconfirmed stimulus measures from policymakers to boost the ailing property sector. Ahead of the mid-autumn festival, catering stocks gained. CSI 300 climbed 1.4%, led by property, dental services, infrastructure, and digital currency.  Northbound inflows into A-shares reached USD2.1billion equivalent last Friday, the largest inflow in a single day since the beginning of the year. Ukrainian success on the battlefield drives EUR and GBP strength The surprise offensive and the re-capture of a key transport hub in the northeastern sector of the front after recent focus on operations in the south caught the market by surprise and has seen the euro and sterling rebounding versus the US dollar in early trading this week, with EURUSD trading to new local highs well clear of 1.0100 briefly overnight before edging back lower. Likewise, GBPUSD pulled north of 1.1650 before treading water back toward 1.1600. It will take some time and further developments to assess whether Ukraine can capitalize on its gains and this in turn triggers a new stance from Russia on its energy policy. JPY crosses back higher as yields rise The USDJPY correction on Friday inspired by somewhat stern language from Bank of Japan Governor Kuroda has mostly faded, as USDJPY bobs back above 143.00 overnight on US treasury yields challenging cycle highs. EURJPY pulled back close to the cycle high well above 144.00 overnight on hopes that the war in Ukraine is turning in the Ukrainians favour. New highs in USDJPY may bring more two-way volatility again if Japanese officialdom backs up its concern on the situation with market intervention (buying JPY). Crude oil (CLV2 & LCOX2) Crude oil starts the week in defensive mode with the focus staying with demand concerns amid continued lockdowns in China hurting demand from the world's top importer and a rapid succession of interest rates from major central banks negatively impacting the global economic outlook. Into the mix a US-backed plan to cap prices on Russian oil sales from December 5, a stranded Iran nuclear deal, strong demand for fuel products such as diesel at the expense of punitively high gas prices and a softer dollar. In addition, the collapse of Russian defenses in Ukraine and the response from Moscow will be watched closely. Monthly oil market reports from OPEC tomorrow and IEA on Wednesday should provide some further guidance on the supply/demand outlook. Brent’s current range: $92.75 and $87.25 US Treasuries (TLT, IEF) The 10-year US Treasury benchmark edged higher toward the local range high north of 3.3% overnight, with only the June peak at 3.50% remaining as the focus to the upside (this was the highest yield for the cycle since early 2011 and the run higher in yields in June coincided with the major low of the equity bear market this year. Tomorrow’s US August CPI number is the next key test for sentiment and yield direction, while the US Treasury will also auction both 3-year and 10-year treasury notes today and will auction 30-year t-bonds tomorrow. What is going on? France’s manufacturing production contracted in July According to the latest estimate released by the French Institute of National Statistics (INSEE), the manufacturing production decreased by a stunning 1.6 % month-over-month in July. It remains in expansion on a yearly basis (+0.2 %). Without much surprise, the drop is mostly explained by higher prices, especially higher energy prices. The INSEE does not forecast a recession in France this year. Nonetheless, growth is likely to decelerate very sharply in the coming quarters. The institute forecasts that growth will be around 0.2 % in Q3 and will be stagnant in Q4 2022. India’s rice export ban risk aggravating global food crisis After a ban on wheat exports earlier this year, India has now announced restrictions on rice exports, aggravating concerns of a global food crisis. Bloomberg reported India imposed a 20% duty on white and brown rice exports and banned shipments of broke rice. The new curbs apply to about 60% of India's rice exports and go into effect Friday. India’s rice output has been depressed due to the severe heatwaves, but also possibly to cap domestic price pressures. If these measures are duplicated by other key rice exporting countries like Thailand and Vietnam, there could potentially be a severe grain shortage globally, especially weighing on poor rice importing nations. We continue to see a threat of climate change to global agricultural output, which along with a prolonged energy crisis, suggested price pressure will stay in the medium-to-long term despite some cooling off from the recent highs. European carbon price drops as EU considers sale of permits from reserves The December ECX emissions contract (EMISSIONSDEC22) has fallen by around one-third since hitting a record high last month above €99 per tons. Given the current energy crisis, EU energy ministers are moving towards a deal to sell surplus permits from its Market Stability Reserve (MSR) in order to support a reduction in the cost of producing power and heating within the region. Power producers need to buy carbon permits to offset the polluting impact of using coal and gas over renewables. Occidental Petroleum shares rise on Berkshire accumulation In a filing on Friday, Berkshire Hathaway announced that it has lifted its stake to 26.8% in Occidental Petroleum. The move comes after the investment firm got regulatory approval for increasing the stake to over 50%. Berkshire’s move in Occidental Petroleum shares is seen as a move of confidence in the oil and gas industry as a much-needed industry for bridging the gap during the green transformation. Semiconductors are in focus as the US is expected to announce more curbs on exports The US Commerce Department is expected to publish new regulations curbing exports of semiconductors to China with companies such as KLA, Lam Research, and Applied Materials likely being impacted by the upcoming regulation. The move by the US further confirms the deglobalisation under the rule of self-reliance applied by increasingly more countries. China’s medium to long-term corporate loans picked up in growth  Over the past months, Chinese policymakers instructed policy banks and gave window guidance to commercial banks to extend credits to support infrastructure construction and key industries of the economy. Some results showed up in the August loan data which recorded a growth of 16% m/m annualized in the outstanding medium to long-term loans to the corporate sector. The amount of new medium to long-term loans to corporate was RMB 735bn in August versus RMB 346bn in July and RMB 522bn in August 2021. Loans to households remained sluggish. PBoC issues a list of 19 systemically important banks The People’s Bank of China and the China Banking and Insurance Regulatory Commission issued a list of 19 systematically important banks.  These 19 banks will face between 0.25% and 1% higher minimum capital requirements and additional leverage requirements. They are also asked to prepare contingency plans for major risk events. These 19 banks are Industrial and Commercial Bank of China, Bank of China, China Construction Bank, Agricultural Bank of China, China Minsheng Bank, China Everbright Bank, Ping An Bank, Hua Xia Bank, Ningbo Bank, China Guangfa Bank, Jiangsu Bank, Bank of Shanghai, Bank of Beijing; China CITIC Bank, China Postal Savings Bank, Shanghai Pudong Development Bank, Bank of Communications, China Merchants Bank, and Industrial Bank. The CPC is set to amend the party constitution at its upcoming national congress The Political Bureau of CPC Central Committee said in a readout last Friday that the Communist Party of China (CPC) is set to “work out an amendment to the Party Constitution that facilitates the innovative development of Party theories and practices and meets the need of advancing the great new project of Party building in the new era” at the CCP’s national congress to convene starting on October 16.  It further elaborates that “the latest adaption of Marxism to China's context and new circumstances will be fully epitomized and so will the new ideas, new thinking and new strategies of governance developed by the CPC Central Committee since the Party's 19th National Congress in 2017. What are we watching next? The Bank of England (BoE) will need to go big on 22 September The meeting initially scheduled for this week is postponed following the Queen Elizabeth II. Last week, both the Bank of Canada and the European Central Bank hiked their benchmark interest rate by 75 basis points. All eyes are turning to the BoE now. Pressure is mounting for the BoE to go big this week – meaning a 75-basis points hike. In August, the central bank hiked rates by 50 basis points to 1.75 %. Despite prime minister Liz Truss’s new anti-inflation plan (which will likely lower the peak in inflation), we think the BoE will need to show its commitment to fight inflation. The Bank forecasts that UK CPI will increase to 13.3 % year-over-year in Q4 2022. But the peak in inflation is only expected in 2023. This means that the cost of living will continue increasing in the short term, anyhow. Fed speakers stay hawkish before the blackout period begins and ahead of US CPI release tomorrow Fed rate hike expectations have picked up strongly since Jackson Hole, and we have heard an extremely unanimous voice from the Fed speakers since then. Some of them have clearly made the case for a 75bps rate hike in September, with Bullard on Friday even saying that Tuesday’s CPI report is unlikely to alter the incoming 75bps rate hike in September. Governor Waller leaned hawkish as well, but did not specify the size for September’s decision, but a “significant” hike still points to that. Esther George stayed away from guiding for individual meetings but made the case for sustained rate hikes. Ethereum merge The second-largest cryptocurrency, Ethereum, is scheduled to undergo a major upgrade this week (estimated on Thursday) which, if successful, will fundamentally change the way the cryptocurrency is working. It will go from the computationally intensive proof-of-work consensus to the more energy-friendly proof-of-stake, as well as introducing a mechanism to limit the inflation in Ethereum. The crypto community is looking very much forward to this upgrade, although some are concerned about the security in the new framework. Earnings to watch Today’s key earnings release is Oracle which a better-than-expected earnings result on 13 June surprising the market on EPS by 12% as the legacy database and software maker is gaining momentum in its cloud offering. Analysts expect FY23 Q3 (ending 31 August) revenue growth to accelerate to 18% y/y, which includes its recent acquisition of Cerner in the health care sector, which is impressive for the previously low growth company despite some of the growth being driven by acquisitions. If the outlook remains strong a longer-term repricing of the company’s valuation could be in the making. Today: Oracle Tuesday: DiDi Global Wednesday: Inditex Thursday: Polestar Automotive, Adobe Economic calendar highlights for today (times GMT) 0730 – ECB's Guindos to speak 0800 – Switzerland Weekly SNB Sight Deposits 1200 – ECB’s Schnabel to speak 1530 – US 3-year Treasury auction 1700 – US 10-year Treasury auction 2100 – New Zealand Aug. REINZ House Sales 0030 – Australia Sep. Westpac Consumer Confidence 0130 – Australia Aug. NAB Business Conditions/Confidence Follow SaxoStrats on the daily Saxo Markets Call on your favorite podcast app: Apple  Spotify PodBean engraver Source: https://www.home.saxo/content/articles/macro/market-quick-take-sep-12-2022-12092022
The ETH/USD Pair Tried To Rebound After The Decline And Wallet Selector In Opera Crypto

Ethereum Is Down, The CBDC Infrastructure In Norway Is Based On Ethereum Technology

InstaForex Analysis InstaForex Analysis 13.09.2022 09:02
Crypto Industry News: Norway's Central Bank has reached a milestone in its digital currency effort by releasing open source code for the Central Bank's Digital Currency Sandbox (CBDC). The sandbox available on GitHub is designed to offer an interface for interacting with the test network, enabling functions such as knocking out, burning and transferring ERC-20 tokens, according to the official partner of Norges Bank at CBDC, Nahma. Nahmii emphasized that the current version of the code does not support the main Ethereum MetaMask wallet and is only available privately to users with appropriate credentials. In addition to implementing appropriate smart contracts and access controls, Norges Bank's sandbox includes custom frontend and network monitoring tools such as BlockScout and Grafana. Nahmii noticed that the interface also shows a filterable summary of transactions on the web. Norges Bank announced on Twitter that the prototype CBDC infrastructure in Norway is based on Ethereum technology. The central bank referred to Ethereum in a blog post on CBDC back in May. Norges Bank said the Ethereum cryptocurrency system is expected to provide a "core infrastructure" for issuing, distributing and destroying central bank digital money, also known as DSPs. Technical Market Outlook: The ETH/USD pair has been seen pulling back from the 100% Fibonacci projection located at $1,753. The rally had ended with a Pin Bar candlestick pattern on the H4 time frame chart, so a pull-back towards the technical support seen at the level of $1,685 was done. The momentum is coming off the extremely overbought conditions to the level of fifty, so the outlook remains bullish for ETH on the short-term time frames. The next target for bulls is located at the level of $1,819 and $1,825. Weekly Pivot Points: WR3 - $1,875 WR2 - $1,807 WR1 - $1,765 Weekly Pivot - $1,738 WS1 - $1,697 WS2 - $1,670 WS3 - $1,601 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. If the down move will extend, then the next target for bears is located at the level of $1,358. The key technical support for bulls is seen at $1,281.9 Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade       Relevance up to 08:00 2022-09-14 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/292498
Ethereum’s Merge Is The Most Influential Events, The Change In Verifies The Transactions

What Could Ethereum Be, Bullish Or Bearish?

InstaForex Analysis InstaForex Analysis 13.09.2022 13:50
Technical outlook: Ethereum pushed through the $1,790 highs over the weekend, rallying over 350 points from its recent swing low at around $1,423. The crypto might have completed a corrective rally and hit resistance just below $1,800. Also, note that the Fibonacci 0.618 retracement of the bearish drop is seen around $1,805, hence the token will face strong resistance if prices manage to reach there. Ethereum had earlier dropped from the $2,031 highs through the $1,423 lows, carving a meaningful downswing as seen on the 4H chart here. A pullback rally was expected thereafter, which could potentially reach up to $1,750 and the $1,800-10 area before prices turned lower again. The bulls have managed to produce a corrective wave and push prices up to about $1,800. The Ethereum bears might be keen to come back in control from here or after hitting $1,800-10 in the near term. Also, note that prices have tested the Elliott Channel resistance line from just below $1,800 and turned lower. The crypto is trading close to the resistance zone. A drag lower from here remains a high probability. Trading plan: Potential drop from the $1,750-1,800 zone against $2,050 Good luck! Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade Relevance up to 13:00 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/292573
The ETH/USD Pair Tried To Rebound After The Decline And Wallet Selector In Opera Crypto

PoS Security Will Continue To Increase, The Ethereum In Downward Trend

InstaForex Analysis InstaForex Analysis 14.09.2022 10:10
Crypto Industry News: In an online interview, a security expert requesting anonymity explained that, unlike Proof-of-Work (PoW) based systems, systems based on Proof-of-Stake (PoS) inform the node validators in advance which blocks they will check, thus enabling them to plan attacks. The cybersecurity expert quoted by the portal is a blockchain developer working on a second layer PoS blockchain. The researcher explained that an exploit could theoretically be more easily exploited in the post-merge chain on the Ethereum network (any unethical or illegal attack that exploits vulnerabilities in an application, network or hardware. Typically an attack is carried out using software or code trying to take control of the system or steal data stored in the network): "If you control two consecutive blocks, you can run an exploit on block N and end it on block N + 1. (...). From an economic security point of view [this vulnerability] makes these attacks relatively easier to carry out." - he said. The expert said that while miners could also check two more blocks on PoW networks, it comes down to "pure luck" and does not give them time to plan an attack. However, he reassured ETH investors by saying: "PoS [still] has sufficient practical security [and] it doesn't really matter that in theory it is not as secure as PoW. It's still a very secure system," he added. In addition, "PoS security will [continue] to increase", as Ethereum developers are working on solutions that will mitigate the above-mentioned threat. The Merge on the Ethereum network is set to take place on September 15 at 2:30 UTC time (according to Blocknative's Ethereum Merge Countdown). The switch to PoS is expected to make the Ethereum network much less energy-intensive. Technical Market Outlook: The ETH/USD pair had reversed from the level of $1,785 aggressively and drop towards the level of $1,552. In this situation, the levels of $1,689 and $1,722 will now act as the technical resistance for bulls. The next target for bears is seen at the level of $1,513 and $1,473. Please notice, the momentum is very weak and negative and the market conditions are now extremely oversold, so an intraday bounce is expected. Weekly Pivot Points: WR3 - $1,875 WR2 - $1,807 WR1 - $1,765 Weekly Pivot - $1,738 WS1 - $1,697 WS2 - $1,670 WS3 - $1,601 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. If the down move will extend, then the next target for bears is located at the level of $1,358. The key technical support for bulls is seen at $1,281.9 Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade Relevance up to 08:00 2022-09-15 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/292687
The Sandbox Is Available On GitHub, The Norway's CBDC  Based On Ethereum Technology

The Sandbox Is Available On GitHub, The Norway's CBDC Based On Ethereum Technology

InstaForex Analysis InstaForex Analysis 14.09.2022 11:52
Norway's central bank has released the source code for its central bank digital currency (CBDC) sandbox based on Ethereum technology. The sandbox is available on GitHub and allows testing basic token management use cases, including minting, burning, and transferring ERC-20 tokens, the Norges Bank's official CBDC partner Nahmii said in a blog post. In addition to using the appropriate smart contracts and access control, the Norges Bank sandbox also includes custom frontend and network monitoring tools, like BlockScout and Grafana. According to Nahmii, the front end also shows a filterable summary of transactions on the network. Nahmii stressed that the current version of the code is only privately accessible by people with the necessary credentials. The official announcement about plans to conduct CBDC testing came from Norges Bank in April 2021, stating that it expected to find a preferred solution by trailing different designs for two years. In the working paper released on November 2021, the central bank mentioned possible CBDC designs, including those based on blockchains like Ethereum, Bitcoin, and Bitcoin SV.     Relevance up to 09:00 2022-09-17 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade Read more: https://www.instaforex.eu/forex_analysis/321664
Bank Of England Is Expected To Choose Between 50 and 75bp, Ethereum Arouses More And More Discussions As Merge Is Around The Bend

Bank Of England Is Expected To Choose Between 50 and 75bp, Ethereum Arouses More And More Discussions As Merge Is Around The Bend

Craig Erlam Craig Erlam 14.09.2022 16:28
Stock markets have stabilized a little after Tuesday’s rout which saw risk assets pummelled across the board. There appears to have been a tendency in recent months to front-run certain releases in the hope that it’s going to prove to be the “pivot” moment when everything starts to look up, central banks can ease off the brake and risk assets will have bottomed. That certainly looks to have been the case over the last week as investors were lured into a false sense of security following the July CPI release only to be brought back down to earth with a bang with the August report. Unfortunately, 2022 has delivered some harsh truths when it comes to inflation and yesterday was the latest in that series. The run-up to the peak was far more aggressive and severe than anyone anticipated and, it would appear, the move back towards 2% is not going to be easy either. Markets are now fully pricing in at least a 75 basis point rate hike next week and almost a 40% chance of it being 100, a far cry from the 50 investors were hoping to see following that CPI data. Not only that, the policy rate is expected to peak at 4.25-4.5% early next year and if the data doesn’t improve soon, that will increase further. Despite the economy’s resilience to this point, a recession may still be on the cards as the tightening cycle potentially pushes it over the edge. BoE seen hiking by 75bps even as inflation eases UK inflation is back into single digits, with the headline rate falling back to 9.9% last month. That’s not exactly cause for celebration, nor is it likely the peak, but you have to take your wins where you can these days. And as we’ve already learned once this week, nasty inflation surprises are not yet a thing of the past, with the UK looking more susceptible to them than most. The data also won’t in all likelihood change the outcome of the BoE meeting next week, with 75 basis points now heavily backed but 50 also possible. The UK still has a major inflation problem and the central bank has a lot of catching up to do after dragging its feet for much of the year so far. A lot of talk and a little bit of action The FX intervention warnings are coming thick and fast since the release of the US CPI data on Tuesday, which saw the dollar surge and come within a whisker of 145 to the yen. The move reportedly prompted the BoJ to conduct a rate check overnight, widely seen as a precursor to intervening in the markets for the first time since 1998. Since then, the USDJPY pair has fallen well back towards 143 and we’ve been flooded with warnings of urgency and willingness to act. The line in the sand has been drawn and speculators may now feel that 145 is viewed in Japan as a step too far. With the Fed and BoJ meeting in the middle of next week – among many others – it promises to be a fascinating seven days. PBOC desperately trying to support the yuan It’s not just Japan that’s fretting about the weakness of its currency, the PBOC set the yuan fix at its strongest bias on record versus expectations. The move is the latest in a series of attempts to stabilise the currency against fierce headwinds while at the same time attempting to ease financial conditions at home. The road ahead is full of potholes for the world’s second-largest economy and confidence is continuing to deteriorate. Will the Ethereum Merge support crypto prices? Bitcoin was probably at the top of the list of instruments that got carried away at the prospect of fewer rate hikes ahead of the CPI data and it, therefore, got hit the hardest when the number dropped. Of course, there are other things happening in the crypto space right now with a huge focus on the imminent Ethereum Merge, with some suggesting that may have contributed to the rebound we’ve seen. Of course, that could equally compound the sell-off if it becomes a “buy the rumour, sell the fact” event. Time will tell. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. A harsh lesson - MarketPulseMarketPulse
The ETH/USD Pair Tried To Rebound After The Decline And Wallet Selector In Opera Crypto

The ETH/USD Pair Tried To Rebound After The Decline And Wallet Selector In Opera Crypto

InstaForex Analysis InstaForex Analysis 15.09.2022 09:54
Crypto Industry News: The Opera Crypto browser, a special version of the popular Opera, has added support for crypto wallets such as MetaMask. All thanks to the Wallet Selector function. The Norwegian software company behind Opera intends to increase the usability of the Opera Crypto version for the Web3 application. Exchanges: Gate.io In January this year. The beta version of Opera Crypto appeared, and the company explained that it wanted to meet the growing interest of users who expect browsers to support the web3. Before Wallet Selector was introduced, the browser only supported the wallet built directly into the application. Now that is changing and it will be possible to pin third-party digital wallets with the latest feature. Wallet Selector in Opera Crypto will allow you to install extensions to your preferred crypto wallets - primarily to the most popular MetaMask, which is necessary if you use, for example, decentralized exchanges. The latest feature only extends the capabilities of the Opera Crypto browser. Currently, its users can count on e.g. Crypto Corner, a news hub with news from the world of cryptocurrencies, support for numerous dApp applications (decentralized) and convenient switching between wallets. The company emphasizes that Opera Crypto allows you to log into the dApp application without installing any extensions, and its own Opera Wallet wallet supports ETH, ERC-20 and ERC-721 tokens, as well as other blockchains. Technical Market Outlook: The ETH/USD pair has been seen trying to bounce after the drop to the level of $1,552. The market is still trading inside the ascending channel, so in this situation, the levels of $1,649, $1,689 and $1,722 will now act as the technical resistance for bulls. The next target for bears is seen at the level of $1,513 and $1,473. Please notice, the momentum is very weak and negative and the market conditions are now extremely oversold, so an intraday bounce is expected. Weekly Pivot Points: WR3 - $1,875 WR2 - $1,807 WR1 - $1,765 Weekly Pivot - $1,738 WS1 - $1,697 WS2 - $1,670 WS3 - $1,601 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. If the down move will extend, then the next target for bears is located at the level of $1,358. The key technical support for bulls is seen at $1,281.9 Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade Relevance up to 08:00 2022-09-16 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/292870
Important Speeches Of The Day And A Few Data From Canada

Energy Prices Remain Very Volatile, Activities In The Markets

Swissquote Bank Swissquote Bank 15.09.2022 10:31
US equities eked out small gains yesterday as dip buyers timidly came in, but risks remain tilted to the downside with the disappointing inflation figures, and the risk of the largest rail strike in the US since 1992. Crude Oil Prices Released yesterday, the US producer price data didn’t enchant investors. The headline figure fell for the second consecutive month but the core PPI strengthened, hinting that most of the easing in producer inflation was due to cheaper energy prices – which however remain very volatile, and which, more importantly carries a decent upside risk. The barrel of American crude flirted with the $90 mark yesterday, without however being able to clear resistance at this level. Energy companies gained despite news that Europeans are looking to raise $140 billion euros from energy companies to help households and businesses survive through winter. The situation on the stock market The S&P500 recover a part of losses yesterday, as Nasdaq gained 0.84%. But the risks remain clearly tilted to the downside. The US dollar remains relatively strong near the 20-year highs, the EURUSD consolidates below parity as gold slipped back below $1700 per ounce. The USDJPY retreated on expectation that the Bank of Japan (BoJ) could intervene to stop the yen’s depreciation. Ethereum trades around $1600 as Merger Upgrade is now imminent! Watch the full episode to find out more! 0:00 Intro0:24 Dip buyers return to a risky market2:31 US crude flirts with $90pb3:41 US rail strike risk weighs on sentiment4:55 Energy stocks rally despite EU measures to cope with crisis7:07 Gold under pressure7:50 BoJ could intervene to strengthen the yen8:52 Ethereum Merges today! Ipek Ozkardeskaya Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020. #US #PPI #inflation #rail #strike #USD #EUR #JPY #BoJ #rate #check #Gold #XAU #crude #oil #BP #XOM #Chevron #Coterra #windfall #taxes #energy #crisis #Bitcoin #Ethereum #Merge #update #SPX #Dow #Nasdaq #investing #trading #equities #stocks #cryptocurrencies #FX #bonds #markets #news #Swissquote #MarketTalk #marketanalysis #marketcommentary ___ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr ___ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 ___ Let's stay connected: LinkedIn: https://swq.ch/cH
Ethereum Confidently Maintained Its Bullish Positions

Crypto: What Is EDX Markets? Mike McGlone Shares His Thoughts On Crypto Market And Ethereum's Transformation

Alex Kuptsikevich Alex Kuptsikevich 15.09.2022 09:22
Bitcoin won't give up $20K Bitcoin has lost 1.2% in the last 24 hours, trading at $20.1K. The plunge below a meaningful round level late Wednesday afternoon did not last long. Ethereum pulled down 0.3% to $1610 while the crypto community awaits the market's reaction to The Merge (move to PoS algorithm). We can describe sentiment across the crypto market as a cautious wait-and-see. Short-term Bitcoin momentum indicates that sellers wanted to swing the market at the end of the day yesterday and snap stop orders, taking advantage of a period of reduced liquidity on Wednesday. As we see, it failed, and BTCUSD returned precisely to where it started its local decline. However, the balance of power is now on the bears' side, as the global risk demand is suppressed, and critical technical levels (50- and 200-day MA, 200-week MA) are above the price. Read next: GDP Growth In New Zealand. Australia Unemployment Rate And Waiting For Initial Jobless Claims Report| FXMAG.COM News background Major US companies Charles Schwab, Citadel and Fidelity have announced the launch of digital asset exchange EDX Markets (EDXM), which will be available to retail and institutional investors. Another recalculation resulted in a 3.45% increase in bitcoin mining complexity to 32.05 trillion hashes, the highest in the network's history. Network service provider Cloudflare announced that its gateways support the upcoming transition of the Ethereum network to the Proof-of-Stake (PoS) consensus algorithm on September 15. Bloomberg Intelligence expert Mike McGlone believes the crypto market will begin a bullish trend after The Merge update. In his opinion, ETH's move to PoS will have a revolutionary impact on cryptocurrencies and the entire financial system. Changpeng Zhao, chief executive of cryptocurrency exchange Binance, said the EU's crypto-asset regulation principles could become the global standard for the entire industry.
The ETH/USD Pair Tried To Rebound After The Decline And Wallet Selector In Opera Crypto

Ethereum’s Merge Is The Most Influential Events, The Change The Way In Verifies The Transactions

Saxo Bank Saxo Bank 15.09.2022 10:20
Summary:  This morning the second-largest cryptocurrency Ethereum successfully underwent its merge from proof-of-work to proof-of-stake. From consuming around 0.2% of the world’s electricity, Ethereum now consumes a fraction of that. This morning at around 06:44 AM UTC, the second-largest cryptocurrency Ethereum successfully underwent its merge. The shift from proof-of-work to proof-of-stake has fundamentally changed the way Ethereum validates transactions on its blockchain. Instead of massive computational power known as mining, the holders of Ether can verify Ethereum-based transactions by becoming a staker. Proof-of-stake consumes around 99.95% less energy compared to proof-of-work, which consumed the same amount of electricity as the whole country of Chile or equal to 0.2% of the total electricity consumption globally. As stakers are rewarded in newly issued crypto, the lower amount of required energy allows a lower issuance of new Ether, thereby minimizing the dilution of existing Ether holders. You can read more about the Ethereum merge from one of our earlier analysis to be found here. A new chapter not only for Ethereum but crypto in general In our view, Ethereum’s merge is one of the most influential events since the genesis block of Bitcoin in January 2009. It is a first for a cryptocurrency of that size to change its consensus framework. This was done without disrupting the network, which secures over $410bn of value across its own native crypto, stablecoins, tokens, and non-fungible tokens (NFTs). For the past years, the discussion of whether it is appropriate for proof-of-work to consume so much electricity has constantly intensified. Today, Ethereum steers away from this discussion once and for all, while it leaves Bitcoin in the dust. The latter consumes around 0.42% of the total electricity consumption globally equal to the country of Kazakhstan, so while this discussion is no longer valid for Ethereum, it is as valid for Bitcoin as it has ever been. Yet, although Ethereum’s successful merge stresses that it is possible to ditch proof-of-work for good, there is no plan for Bitcoin to adopt a proof-of-stake framework. Can Ethereum prove unbroken stability? Although Ethereum’s developers have worked for years to prepare its transition towards proof-of-stake, the latter has not yet proved long-term consistency in terms of decentralization and resistance under authentic conditions. The only way to adequately do this is without having severe issues in production under various distinct market conditions. This can only be sufficiently proven as time passes and that clock starts counting today. This is not a sprint but a marathon. Only time will tell whether Ethereum’s proof-of-stake framework can demonstrate stability in line with its former but mature proof-of-work framework.   Source: https://www.home.saxo/content/articles/cryptocurrencies/ethereum-merge-post-15092022
The Main Topic Of The Cryptocurrencies Market: Bitcoin vs Ether And The Problem With The Ethereum Merge

The Main Topic Of The Cryptocurrencies Market: Bitcoin vs Ether And The Problem With The Ethereum Merge

InstaForex Analysis InstaForex Analysis 15.09.2022 12:13
ccording to market expectations, the transition of Ethereum from Proof-of-work to Proof-of-stake should take place today. Some say that this may lead to the fact that the second cryptocurrency will begin to take market share from BTC. Famous Bitcoin supporters have criticized the update and urge those who prefer the main cryptocurrency to prepare for war. Michael Saylor Criticizes "Misinformation" About BTC Energy Uses MicroStrategy Executive Chairman Michael Saylor argues that bitcoin mining can become a clean, profitable, and modern industry that generates hard currency for remote places in the developing world. Ahead of Ethereum's transition to proof-of-stake, Saylor spoke out against what he calls "misinformation and propaganda" about the environmental impact surrounding proof-of-work (PoW) BTC mining. On September 14, he shared a lengthy post on his Twitter account detailing his seven "high-level thoughts" on BTC mining and its impact on the environment. One of his key arguments was against PoW BTC mining being energy efficient. Instead, Saylor claims it is "the cleanest industrial use of electricity and is improving its energy efficiency at the fastest rate in any major industry." He backed up his argument with numbers taken from the Global Bitcoin Data Mining Review for the second quarter. The one was published in July by the Bitcoin Mining Council, a group of 45 companies that claim to represent 50.5% of the global network. Saylor emphasized: "Our metrics show ~59.5% of energy for bitcoin mining comes from sustainable sources and energy efficiency improved 46% YoY." An attempt to distract the authorities from the "inconvenient truth" Saylor's argument comes from the fact that the BTC mining industry has come under a lot of pressure due to its perceived environmental impact. This has even led some US states to take steps to ban cryptocurrency mining. Saylor claims that the continuous improvement of the network and the "relentless improvement in the semiconductors" make mining much more energy efficient than big tech companies like Google, Netflix or Facebook. "Approximately $4-5 billion in electricity is used to power & secure a network that is worth $420 billion as of today," Saylor said. "This makes Bitcoin far less energy intensive than Google, Netflix, or Facebook, and 1-2 orders of magnitude less energy intensive than traditional 20th century industries like airlines, logistics, retail, hospitality, and agriculture." Saylor also stated that 99.92% of the world's carbon emissions come from industrial uses of energy other than bitcoin mining. Looking at the numbers, Saylor doesn't think environmentalists' arguments condemning PoW mining are fair. Rather, in his opinion, this is an attempt to "focus negative attention on Proof-of-Work mining" and distract authorities from the "inconvenient truth that Proof-of-Stake crypto assets are generally unregistered securities trading on unregulated exchanges." Saylor concludes by saying that all the negativity about PoW mining is detracting from the potential benefits for the world. "Bitcoin mining can bring a clean, profitable and modern industry that generates hard currency to remote locations in the developing world, connected only via satellite link." Jack Dorsey Questions Ethereum Merge Twitter co-founder Jack Dorsey also chose his side in the Bitcoin vs. Ethereum debate. Dorsey, a well-known supporter of the main cryptocurrency, questions the Ethereum merge. On Twitter, he posted a popular post by another popular Bitcoin maximalist, Scott Sullivan. In the very first line, Sullivan calls Ethereum a shitcoin and asks Bitcoin supporters to prepare for war. Sullivan believes that after the Ethereum merger, a narrative war will begin between Bitcoin and Ethereum. Sullivan believes that bitcoiners should be prepared to fight back in the event of such a war. While Sullivan's post is now a month old, Dorsey's timing is definitely surprising. What is the problem with the Ethereum merge? The Ethereum merge will change the Ethereum consensus mechanism from Proof-of-work to Proof-of-stake. Proof-of-Work, which is the consensus mechanism used by the top cryptocurrency, is considered to be extremely energy intensive. A recent White House report went so far as to consider a total ban on BTC mining. The Proof-of-stake model reduces PoW power consumption by 99%. However, Dorsey and Sullivan have serious questions about this model. Sullivan believes that PoS is based on the principle of disincentives. PoS cuts staked funds from validators in case of dishonest behavior. He also has claims that PoS is a permissionless system without rules that relies on subjective truth. He also believes that in PoS, money is power and the threat of centralization is a real problem. Sullivan and Dorsey point to OFAC's censorship of Tornado Cash as one such example. On the other hand, they believe that a PoW system is the answer that solves PoS problems. Dorsey is at odds with several influential figures because he believes Proof-of-work is the only correct system. Right now, Bitcoin dominance is at its lowest level in a very long time. Ethereum supporters believe that the second cryptocurrency has the potential to bypass Bitcoin after the merge. Dorsey's comments indicate that there is likely to be a major redistribution of power between the two largest cryptocurrencies. Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade   Relevance up to 08:00 2022-09-18 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/321778
US Inflation Report And Its Impact On The Cryptocurrency Market

US Inflation Report And Its Impact On The Cryptocurrency Market

InstaForex Analysis InstaForex Analysis 15.09.2022 13:03
While the whole world is discussing the Ethereum Merge update, it is important to finally deal with the consequences of slowing down the rate of decline in the inflation rate. CPI reporting had a negative impact on the crypto market and caused a reduction in total capitalization to the level of $998 billion. However, this is only an impulsive reaction of investors to bad news. The consequences of this process in the medium term may be more disastrous. Inflation, the position of the Fed and the crypto market In the summer, Fed Chairman Jerome Powell said that the agency was changing its strategy for raising the key rate. The regulator abandoned the predictive indicator planning model and decided to focus on actual data. The Fed also said that it plans to end the current year with a neutral rate. Powell's statements removed the element of surprise, made Fed policy more transparent and gave investors hope. Markets took the theses of the head of the Fed as a transitional moment to the gradual easing of monetary policy. The peak of such sentiments occurred at the beginning of August, when the inflation rate fell above expectations. A glimmer of hope amid the endless fog of the liquidity crisis provoked other positive rumors. One of the initiators of the positive statements was Arthur Hayes, who believes that as we approach the November Senate elections, the markets will pump up the money supply. The slowdown in the rate of decline in the inflation rate put a bold dot on the likelihood of a change or easing of the Fed's current policy. After the publication of the CPI for August, an increase in the key rate by 75 basis points in September is a settled issue. In addition, the current order of movement of the price of Bitcoin and other financial instruments remains. New Rules for Bitcoin Price Movement Insufficient rates of inflation reduction are forcing the Fed to maintain the current level of influence on world markets. The withdrawal of liquidity and the increase in the key rate to strengthen the USD will continue. Considering this index, DXY remains the main financial instrument for the coming months. Bitcoin continues to maintain a close correlation with stock indices. Considering the macroeconomic situation, high-risk assets remain a single category of low-value investments at this stage. It follows that with active trading of BTC/USD, other cryptocurrencies and stock indices, the rule of mandatory DXY analysis remains. With a high degree of probability, when the US dollar index rises, Bitcoin and other cryptocurrencies go down or move flat. The publication of CPI reports caused opposite reactions from BTC and DXY. The inverse correlation of the two assets is obvious and should be a key element of active BTC/USD trading. BTC/USD Technical analysis Bitcoin managed to hold on to the $20.1k–$20.2k support area. The cryptocurrency successfully defended the $19.1k line following the results of yesterday's trading day, and moved to the stage of consolidation. In the coming days, we should expect a stabilization movement in the BTC/USD price without significant impulse movements. Technical metrics confirm this scenario. On the daily chart, the RSI index and the stochastic oscillator made a sharp reversal to the side. The MACD indicator has also completed an upward spurt and started moving in a flat direction. The publication of the CPI had a significant negative impact in both the short and medium term. Given the successful upgrade of Ethereum, we can soon expect a decrease in investment activity and a drop in the level of Bitcoin dominance. The main focus of the market will be on the altcoin, which may cause BTC to be undervalued. Demand and scarcity After a short consolidation, Bitcoin may resume its upward movement due to its growing scarcity in the market. Long-term investors continue to actively buy up BTC coins, reducing their volumes in the public domain. In addition, Bitcoin mining difficulty peaked at 32.045 trillion hashes. This means that mining a BTC block has never been so difficult. Accordingly, in the coming weeks, we can expect a local upward movement of Bitcoin to the $24k–$25k area due to its underestimation and growing scarcity. Medium-term prospects for Bitcoin Despite the rising inflation, the situation will begin to improve closer to winter. Most likely, the reason for this will be a significant reduction in liquidity and the aggravation of recession in the US economy. The combination of these factors will force the Fed to resume filling the markets with money, which will positively affect Bitcoin. Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade   Relevance up to 10:00 2022-09-16 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/321796
Ethereum Charts Are Still Indicating A Long-awaited Bullish Reversal

Australian Dollar (AUD): Reserve Bank Of Australia May Choose Less Aggresive Varaint As Unemployment Increased A Bit

Conotoxia Comments Conotoxia Comments 15.09.2022 13:43
On Thursday, financial markets seem to be characterized by less volatility than in the first half of the week. Investors may continue to delve into the Fed's latest actions after the latest inflation reading from the U.S. and ponder how any rate hikes could affect stock, bond, dollar or cryptocurrency quotes. Situation in the markets and mixed data from the Antipodes This morning, the DAX was up 0.17 percent at 6:52 a.m. CET, while the CAC 40 was unchanged from its previous day's position at the same time. The FTSE 100 rose 0.49 percent. The euro fell 0.13 percent against the dollar to 0.99680 at 7:06 a.m. CET, while the pound lost 0.17 percent against the U.S. dollar to 1.15204. From macroeconomic data overnight, we learned that unemployment in Australia unexpectedly rose to 3.5 percent in August from 3.4 percent, the first increase in 10 months. This result may support the Reserve Bank of Australia's earlier signal of a potential move to smaller interest rate hikes. New Zealand's economy, on the other hand, grew more than expected in the second quarter (0.4 percent year-on-year), avoiding recession after a surge in Covid-19 cases caused the economy to contract in the first three months of the year. Read next: China May Need Less Crude Oil - IEA Report Finds. The European Union Considers Limitations On Power Demand| FXMAG.COM Source: Conotoxia MT5, AUDUSD, D1 The Ethereum Merge The world's two largest cryptocurrencies, bitcoin (BTC) and ether (ETH), fell on Thursday after the ethereum exchange rate earlier posted an intraday gain of more than 4 percent. This time, the second-largest cryptocurrency fell more than 2 percent, with the entire cryptocurrency community expecting a transition to a proof-of-stake model with proof-of-work (known as The Merge) to take place in the next few hours, BBH reported. The years-long, system-wide upgrade of the ethereum blockchain will mark one of the most historic events in the cryptocurrency sector, according to CNBC. Katie Talati, head of research at asset management firm Arca, said in an interview with CNBC: "we believe that after The Merge Eth bullish sentiment towards ethereum will be much stronger for a number of reasons." The main factor is expected to be a decrease in supply, which will make ETH a more scarce and harder-to-access token, which could translate into price, Talati added. Source: Conotoxia MT5, ETH/USD, D1 Merge ETH, and what's next for BTC? From the point of view of the chart of the world's largest cryptocurrency, the price of BTC remains in a fluctuating range between $18343 - $25016. In addition, in recent times, the BTC/USD exchange rate may be capped by the trend line drawn after previous peaks. It seems that only overcoming this place could be more favorable for the bulls. In turn, overcoming the support could open the way towards $12582. Source: Conotoxia MT5, BTC/USD, W1 Daniel Kostecki, Director of the Polish branch of Conotoxia Ltd. (Conotoxia investment service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. Read article on Conotoxia.com
Ethereum Might Turn Bullish From The Current Price

Ethereum Might Turn Bullish From The Current Price

InstaForex Analysis InstaForex Analysis 15.09.2022 14:16
Technical outlook: Ethereum rose through the $1,654 intraday high on Thursday before pulling back sharply through $1,580. The crypto is again gaining ground. It is seen to be trading close to $1,595 at this point in writing. A push above $1,654 will open the door for a further advance as the bulls target the $1,800-10 zone in the next few trading sessions. Ethereum has already carved a meaningful larger-degree downswing between $2,031 and $1,423 as seen on the 4H chart. Furthermore, the counter-trend rally remained just shy of the Fibonacci 0.618 retracement seen around the $1,800-10 zone. The possibility remains for yet another attempt to test the $1,800 handle and also up to $1,900 before giving in to the bears. Ethereum might turn bullish from the current price action until $1,423 and $1,480 interim supports are in place. Prices have retraced from $1,790 through $1,560 in a corrective way and have found support around the Fibonacci 0.618 retracement of the previous rally between $1,480 and $1,790. A push above $1,675 will potentially confirm a test of the $1,800 handle. Trading plan: A potential rally back towards $1,800-10 against $1,423 Good luck!   Relevance up to 13:00 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/292959
Reserve Bank Of Australia (RBA) And Employment Report, Crypto: The Merge As A Stimulant?

Reserve Bank Of Australia (RBA) And Employment Report, Crypto: The Merge As A Stimulant?

Craig Erlam Craig Erlam 15.09.2022 16:26
Stock markets are a bit mixed on Thursday following a rollercoaster week in the run-up to, and aftermath of, the US inflation report. Safe to say, investors got ahead of themselves in a desperate attempt to board the peak inflation train early. The collapse on Tuesday – carrying into Wednesday in Asia and Europe – looked quite severe on the face of it but it was simply an unwinding of positions built on the anticipation of a good set of numbers in the days leading up to it. While the Fed is now almost certain to hike by 75 basis points next week and more in the months that follow than previously anticipated, the view still seems to be that Tuesday was a setback rather than a game changer. Confidence that we are at or near peak inflation is dented but not broken and this week serves as a reminder that as was the case on the way up, the path back to 2% will likely be littered with nasty surprises. RBA will likely welcome labour market report This will likely be the case for most central banks, not just the Fed, with the RBA seen to be in the early stages of its pivot towards slower tightening. After hiking rates by 50bps, markets are now pricing in a 25bps hike next month although as we’ve seen so often this year, that could quickly change with the data. The labour market figures today could support such a move, as employment rose a little less than expected while participation also rose, unexpectedly lifting the unemployment rate to 3.5%. The Aussie dollar rose after the release but has since given the bulk of that back. PBOC leaves MLF unchanged and supports CNY The PBOC’s battle to support the yuan continued on Thursday as it left the 1-year MLF rate unchanged at 2.75% and set a stronger fix on the currency. The result was around 200 billion yuan being withdrawn from the banking system, with the central bank stating that it would “keep banking system liquidity reasonably ample”. The dual threat of a slowing economy and tumbling currency against the dollar is posing quite the challenge for the central bank which is continuing to try and push back against both, with limited success. Yen steady amid intervention warnings The yen remains a key focus after a slew of intervention commentary yesterday which accompanied reports of a rate check by the BoJ. While officials have been keen to state that no warning of intervention will be forthcoming, nor perhaps even confirmation of it, the line in the sand around 145 against the dollar appears to have been drawn. The message was loud and clear and now it’s just a case of whether markets will respect it. That’s not always the case and we could see its resolve tested after 24 years without such action. Will it be a “sell the fact” event? Bitcoin has stabilised once more around $20,000 after Tuesday’s bruising encounter with the US inflation data. As we saw elsewhere, the cryptocurrency had rallied in anticipation of something more favourable but it wasn’t to be. With that now behind us, the question will become how the crypto space reacts to the Ethereum Merge. It’s been a long time in the making and the question on traders’ lips right now is will it be the next bullish catalyst for cryptos or a “sell the fact” event. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. Oil steady, gold vulnerable - MarketPulseMarketPulse
JPMorgan's CEO's Reluctance To Digital Assets, The Ethereum Market Is Still In The Short-term Down Trend

The Ethereum Market Remains Under Strong Bearish Pressure

InstaForex Analysis InstaForex Analysis 16.09.2022 10:31
Crypto Industry News: Megadeth, pioneers of thrash metal, continue their adventure with Web3. They prepared "Rattleheads", a collection of digital art whose main theme is the group's mascot, Vic Rattlehead. Megadeth and NFT Produced by Five To One Collective in collaboration with Upper Echelon Studios, the collection is inspired by the band's long-time fan club, Cyber Army, and the mascot, Vicio Rattlehead, a ghoulish character that features on most of the band's album covers. The project is to be expanded with additional tools that will be revealed in the near future. Megadeth leader Dave Mustaine emphasized in his statement that his group has always been a pioneer - and not just in terms of art: "Our first album set the standard for thrash metal. We were the first band to have a website. The Cyber Army Club was founded in 1994. Our 2016 album" Dystopia "featured VR descriptions. And now, as technology advances. Web3 and its ability to connect us directly with our fans - this moment is perfect for Megadeth. It is the ultimate bond with our community (...) "- he wrote. It is worth recalling that the band's first approach to the NFT market took place in 2021. Then the NFT project "Vic Rattlehead: Genesis" appeared on the market, containing the band's logo and its iconic mascot rotating in opposite directions for six seconds. Technical Market Outlook: The ETH/USD pair is trading out of the channel and the bearish pressure is still high. The market is slowly approaching the last mont's low seen at the level of $1,423. The levels of $1,513, $1,649, $1,689 and $1,722 will now act as the technical resistance for bulls. The next target for bears is seen at the level of $1,424 and below. Despite the extremely oversold market conditions on the H4 time frame chart, the momentum remains weak and negative, which might indicate the ETH is still in the short-term down trend. Weekly Pivot Points: WR3 - $1,875 WR2 - $1,807 WR1 - $1,765 Weekly Pivot - $1,738 WS1 - $1,697 WS2 - $1,670 WS3 - $1,601 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. If the down move will extend, then the next target for bears is located at the level of $1,358. The key technical support for bulls is seen at $1,281.9 Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade   Relevance up to 08:00 2022-09-17 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/293053
Market Participants Fear A Recession, The Indices Of Leading European Companies Has Declined

The Markets Are Concentrated On Inflation, Crude Oil Is Down

Swissquote Bank Swissquote Bank 16.09.2022 10:24
US railroad companies and the unions representing their workers reached a tentative agreement early Thursday to prevent a rail strike in the US. Avoiding a rail strike is good news, but not good enough to give a smile to investors. The markets remain too focused on inflation. Increases and decreases The S&P500 closed the session more than 1% lower, as US retail sales and jobless claims – which both hinted that the US economy remains relatively resilient to the Federal Reserve (Fed) rate hikes - didn’t help keeping the Fed hawks at bay. The US 2-year yield spiked to 3.90%, the mortgage rates in the US topped 6%, the US dollar consolidated a touch below the 110 level, Ethereum lost 10% and gold dived to $1660 per ounce. US crude took a good 4% dive. But this time, it wasn’t just the recession talk, it was because the Americans rectified a beginner’s mistake that they have made earlier this week, saying that they will refill their strategic oil reserves if prices fall below $80 per barrel. Waiting For Reports We will likely close this week on a sour note. Next on the economic calendar are the final European CPI read, which will confirm that inflation spiked to 9.1% in August, and the University of Michigan Consumer Sentiment, which will hopefully not print a significantly positive number, because the Fed hawks got strong enough the week before the Fed decision. Watch the full episode to find out more! 0:00 Intro 0:25 US rail strike will likely be avoided! 2:08 But sentiment remains sour on strong US data 3:57 World Bank points at recession 5:04 Crude oil down as Americans understand their mistake 6:41 Strong dollar weighs on major peers 6:55 Joke of the day 7:09 Ethereum down 10% post Merge upgrade 7:51 Adobe dives 17% on Figma acquisition 8:44 Watch EZ final CPI & UoM Consumer Sentiment today! Ipek Ozkardeskaya Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020. #US #rail #strike #inflation #USD #EUR #GBP #Gold #XAU #crude #oil #natgas #energy #crisis #Bitcoin #Ethereum #Merge #update #Bitcoin #Adobe #Figma #SPX #Dow #Nasdaq #investing #trading #equities #stocks #cryptocurrencies #FX #bonds #markets #news #Swissquote #MarketTalk #marketanalysis #marketcommentary ___ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr ___ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 ___ Let's stay connected: LinkedIn: https://swq.ch/cH
Crypto: The Merge - 45% Nodes Managed By Two Addresses!? Paolo Ardoino (Bitmex, Tether) Comments On ETH's PoS

Crypto: The Merge - 45% Nodes Managed By Two Addresses!? Paolo Ardoino (Bitmex, Tether) Comments On ETH's PoS

Alex Kuptsikevich Alex Kuptsikevich 16.09.2022 08:57
Market picture Bitcoin has lost 1.6% over the last 24 hours to $19,777 amid renewed pressure on risk-sensitive assets. BTC remains just under the critical $20K round level, where it got support for the past three months. Ethereum lost the speculative support it received before the move to PoS. Over the last day, Ether lost 8.6%, more than three times more than the 2.6% reduction in overall crypto capitalisation. Weakness of this kind is an almost inevitable consequence of a previous period of overperformance, much of the gains of which have yet to be erased. Trading at $1500, Ether is now almost 50% above the area of the June-July lows, while Bitcoin has rolled back to its lows of that period. News background Tether and Bitfinex technical director Paolo Ardoino said the move to PoS will not help the second cryptocurrency catch up to Bitcoin. The Merge will not lower transaction fees or make ETH more decentralised, nor will it increase network capacity. Ethereum cannot compete with BTC as a form of money because it has no maximum issue limit. According to Santiment, more than 45% of Ethereum nodes launched after The Merge update are managed by just two addresses, raising concerns crypto community concerns about centralisation. Read next: Asia: Chinese Retail Sales Rose | Does Weaker CNH (Reminbi) Support Chinese Economy? | FXMAG.COM According to Chainalysis, developing countries are leading the world in cryptocurrency adoption. Vietnam and the Philippines lead the rankings due to the popularity of cryptocurrency and NFT gaming projects. Of the developed countries, only the US and China are in the top 10, ranking fifth and 10th, respectively.
Cryptocurrencies A Better Version Of Payment For Travel

Cryptocurrencies A Better Version Of Payment For Travel

Crypto.com Accelerate the... Crypto.com Accelerate the... 17.09.2022 08:47
It happened seamlessly. On Thursday, The Merge fused Ethereum’s PoS testnets, cutting the chain’s energy consumption by a whopping 99.95%. Ethereum fans joined the online watch party, and even Google celebrated the event with a live countdown on its site. We honour the crypto milestone with an ETH giveaway, and take our hats off to everyone who made The Merge happen. Markets Spotlight Note: Market prices captured in US$ at the time of reading. Explore more on Crypto‌.com/Price. News Snaps Starbucks will offer an NFT-based loyalty program. CoinDesk reports that Starbucks recently announced an NFT loyalty program running on the Polygon network. Customers will be able to purchase collectible stamps in NFT form that offer immersive experiences and other benefits. DBS, the largest bank in Southeast Asia, set to enter the Metaverse. Singapore bank DBS is set to explore the Metaverse. DBS announced a partnership with The Sandbox, and its aim is “to create DBS Better World, an interactive Metaverse experience showcasing the importance of building a better, more sustainable world, and inviting others to come alongside.” Check out Bitcoin.com for more. The Merge just made Ethereum a whole lot greener. With the recent successful merge, Ethereum is now much more energy efficient. Moving from Proof of Work to Proof of Stake has reduced Ethereum’s blockchain energy consumption over 99.95%. Vitalik Buterin tweeted that it would reduce worldwide electricity consumption by 0.2%. Visit CNN for the full story.   GameFi experiences a 135% jump in fundraising for the month of August. The crypto market as a whole may still be facing a downtrend, but interest in Web3 games and Metaverse projects continues strong. Over US$748 million in funds have been raised in the month of August, Cointelegraph reports. NFT collection Doodles raises US$54M. The well-known NFT collection Doodles recently received US$54 million in funding and a US$704 million valuation. Doodles plans to use this investment to focus on monetising its intellectual property globally in order to scale its growth. See CoinDesk for more details. What’s Ahead Keep an eye out for the Vasil hard fork for Cardano that will take place on 22 September. If the upgrade is successful, it will improve Cardano’s scalability and lower the transaction costs on its network. NFT Spotlight From “Making Dollars” in 1988 to perhaps “Mining Dogecoin” today, Erick Sermon of iconic hip-hop group EPMD launched an NFT collection with renowned Canadian-Indigenous artist, record producer, engineer, and longtime collaborator David “Gordo” Strickland. The hip-hop luminaries also donated a portion of the proceeds from the collection to an organisation that supports Indigenous residential school survivors. “Gordo was at the studio doing these abstract hip-hop legends paintings on his down time. […] He was doing paintings of all of us, and Snoop, and Dre, and Redman and so on. […] I let him do his thing and magic happened.” Sermon, on the origins of his collection Read Crypto.com’s full interview with Sermon and Gordo or browse the collection. Product Picks Six More Tokens Added to Recurring Buy ZRX, GNO, GRT, NEO, and more have been added to the growing list of over 70 supported tokens for Recurring Buy. Crypto.com App users can now access the Dollar Cost Averaging (DCA) investment strategy for more tokens and to automate purchases, with as little as US$15.  DeFi Wallet Now Supports Nine Languages  Users can now easily and securely manage 700+ tokens across 20+ blockchains, seamlessly swap tokens, earn token rewards, manage their NFTs, and connect with the most popular dApps in seconds in their preferred language.  US$10,000 Prize Pool for the ETH Merge Trading Competition To celebrate this historic event, we’re giving Crypto.com App and Exchange users an opportunity to earn a share of US$10,000 in ETH. Competition ends 30 September. Join now on the Crypto.com App and Exchange. Crypto Level Up What is a DAO? Decentralised autonomous organisations (DAOs) embrace everything that traditional organisations don’t. Here are the values that define a DAO. Flat. No CEOs. No executive committee. No hierarchy. All DAO-related decisions are made collectively by the stakeholders or members of the DAO. Decentralised. A DAO uses smart contracts, not a third party, for execution. But sometimes, members of a DAO may decide to get outside help to fix issues like bugs or updates. Transparent. A DAO hides no secrets. Anyone is welcome to inspect the public smart contract that manages its operations and the full transaction history on the blockchain. Accessible. From chef to bioscientist and yourself, anyone can join a DAO — as long as they fulfil the predetermined requirements, such as holding its governance token.Democratic. Once the voting is done, and a decision made, no single party can veto it. Learn more about DAOs and how they work Crypto IRL Happiness often comes in pairs. Cheers, @Rutger_B79. We hope you enjoyed the moment with your pal, and the Crypto.com Icy White Visa Card, too, of course! Featured Merchant Juan Otero, CEO of Travala.com, tells us how crypto is changing the game of international travel. What can travellers buy with CRO on your site? Travellers can use CRO to book 2,200,000-plus accommodations, flights with over 600 airlines, and more than 400,000 activities across 230 countries and territories. Every booking also receives a 2% giveback in $AVA, Travala.com’s travel utility token, which can be increased to up to 10% by becoming a Smart member. Poor foreign exchange rates are the bane of international travel — can crypto do away with them? Absolutely — the borderless nature of crypto makes it perfect for international travel. When you book online with foreign travel providers, you’re usually hit with foreign exchange fees in addition to credit card processing fees, which on average, add up to around 3%. By booking travel with crypto, both these fees are avoided. The only fee you pay is the network fee, which in most cases is just a few cents. What’s the swankiest trip someone has paid for in crypto on your site? Our luxury travel division, Concierge.io, has organised some incredible recent experiences for crypto enthusiasts — and when we say experiences, we don’t just mean flights and hotels. We’re the exclusive payment provider for Rare Vibes AVClub when it comes to their events in Miami. Earlier in April, RVAC’s BTC Miami Event was the talk of the town, with musical acts such as Diplo, ATrak, Bassjackers, and several others at MAPS Backlot in Wynwood. Have you paid for a flight or hotel in crypto yet? Where to?Of course! My most recent crypto booking was for flights and accommodation for the upcoming Singapore Grand Prix. My co-founder, Steve, and I will be catching up with the previous Travel Tiger Club giveaway winner in June. Decoder Bagholders are individuals who do not sell their assets, even if the price drops significantly or ends up at zero. There are many possible reasons for an investor to become a bagholder. For one, sometimes investors believe so strongly in a project that they are unaffected by short-term price action.  Another reason is that they missed out on the crash, with the asset price dropping so quickly they didn’t have time to sell it. Finally, some investors become bagholders because they became disinterested in a project and forgot about their investment. Once they do check, they feel there is no point in selling, as it is worth a fraction of their initial investment. This Week in Crypto History Vitalik Buterin in Time magazine’s top 100 most influential people. This time last year, Ethereum co-founder Vitalik Buterin was featured as one of the top 100 most influential people of 2021. Buterin ranked among the likes of Elon Musk, Alexis Ohanian, and Billie Eilish. That’s it for this week’s Snapshot. Want more? Head over to our Insta feed for bite-sized crypto lessons.    
NFT: Funko x Warner Brothers - Effect? DC Comics NFTs! Sega And Bandai Namco May Affect Blockchain Gaming

Disney On NFT Market, Starbucks brewing NFT Customer Loyalty Platform And More

Crypto.com Accelerate the... Crypto.com Accelerate the... 17.09.2022 08:57
Disney is exploring and developing plans for the metaverse. ConsenSys launches free NFTs to commemorate Ethereum’s Merge. Gods Unchained is teaming up with GameStop. Key Takeaways Disney revealed that it is continuing to explore and develop plans for the metaverse. The company has also been active in the NFT space. Collaborating with NFT marketplace VeVe, it launched the “Golden Moments” collection, which includes Spiderman, Mickey Mouse, and more. “Regenesis”, an NFT collection launched by ConsenSys to commemorate Ethereum’s Merge, is available to claim. The NFT is free to mint, and the claim window will be open for 72 hours starting from the day of The Merge. Gods Unchained is teaming up with GameStop to welcome GameStop customers into the card game’s ecosystem. GameStop PowerUp Pro members will receive a unique code that can be used to redeem Gods Unchained expansion packs containing NFT trading cards. X2Y2 recorded a -17% decrease in sales and a -6% decrease in transactions. Meanwhile, OpenSea‘s sales were positive at +51% and its transaction count also increased +38%. The total market cap for GameFi tokens now stands at US$8.43 billion, down -6% from last week. Crypto.com NFT in the Spotlight Luca De Massis is dropping his very first PFP collection, “TMK”, on Crypto.com NFT. It includes 3,000 NFTs with over 250 traits and unique moods. TMKs are not only highly intelligent but also very sociable, likeable, and fiercely protective of humans. “7 Paintings of Heaven and The Lost Artwork” is an art collection by MACHADOXLEAO that is inspired by John Bunyan’s 1678 allegory “The Pilgrim’s Progress”.  This drop features utilities for collectors, such as original design files and Zoom calls with the creator. NFT Highlights Reddit’s Ohanian leads $54 million Doodles capital raise Paradigm unveiled variable rate gradual Dutch auctions mechanism for Art Gobblers Y00ts mint t00b Is the 7-day biggest NFT collection, surpassing $7.9M in SOL Cardano’s first NFT lending platform announces $25,000 in bounty ahead of mainnet launch Automobili Lamborghini’s “The Epic Road Trip” announces its September NFT utilities Starbucks brewing NFT customer loyalty platform, so are smaller coffee shop chains LG embraces NFT tech with new ‘LG Art Lab’ smart TV application GameFi Highlights Guild of Guardians teams up with top names in esports to grow Web3 game How GameFi contributes to the growth of crypto and NFTs Gala Games launches Superior alpha playtest Over 40% of GameFi users are using the WAX blockchain Web3 gaming still growing despite economic woes, according to DappRadar report GameFi and NFTs set to be first to recover from downturn as venture funds flow in NFT Transaction Benchmark The following chart shows select top NFTs and their historical floor prices: Top Collections The following table shows select top creators (by sales volume on each platform) and a sample of their art: PlatformCollectionSales Volume (USD)Sample Crypto.com NFT Loaded Lions $106,800 Minted VVS Miner Mole $86,800 Magic Eden Y00ts: mint t00bs $2,778,000 OpenSea CryptoPunks $3,476,000 Platform Crypto.com NFT Collection Loaded Lions Sales Volume (USD) $106,800 Sample Platform Minted Collection VVS Miner Mole Sales Volume (USD) $86,800 Sample Platform Magic Eden Collection Y00ts: mint t00bs Sales Volume (USD) $2,778,000 Sample Platform OpenSea Collection CryptoPunks Sales Volume (USD) $3,476,000 Sample GameFi Top Gainers & Losers Top Games Metrics Daily Gamers by Blockchain Research and Insights Team Get fresh market updates delivered straight to your inbox: Subscribe to newsletters  Be the first to hear about new insights: Follow us on Twitter Tags crypto research cryptocurrencies GameFi NFT Ready to start your crypto journey? Get your step-by-step guide to setting up an account with Crypto.com By clicking the Get Started button you acknowledge having read the Privacy Notice of Crypto.com where we explain how we use and protect your personal data.   DOWNLOAD APP
JPMorgan's CEO's Reluctance To Digital Assets, The Ethereum Market Is Still In The Short-term Down Trend

Ethereum Is The Most Preferred Option For Smart Contracts, Etherscan What Is It?

Kucoin Blog Kucoin Blog 19.09.2022 10:41
Unarguably the “poster image” for blockchain, Ethereum is one of the biggest and most important names within blockchain circles and discussions. However, many beginner, intermediate, and even expert blockchain users might have encountered difficulty, occasionally or frequently, navigating the Ethereum blockchain. If this sounds like you then this article is just what you need. While the information in this article will not magically wave all your confusion about the Ethereum blockchain away, it definitely will go a long way in making your blockchain experience more enjoyable. Welcome to our brand-new educational series on Ethereum, which is a consumer awareness initiative to help understand everything about the inner workings of the Ethereum blockchain,Ether token, and much more. What are Blockchain Explorers? Because blockchains, such as Ethereum, are open-source and decentralized, anyone with an internet connection can examine its contents whenever necessary or desired. This is where blockchain explorers come in. This platform can offer the best foundation for learning about the fundamentals of a blockchain. That said, blockchains that prioritize privacy above decentralization, such as Monero, might limit spectators’ access to information. Outside of that, most blockchains are open to dissection on request. One popular yet underused tool for peering into or dissecting network activity is ‘Etherscan.’ Etherscan: The Basics This blockchain explorer, as it is fondly called, allows users to evaluate anything and everything on the Ethereum blockchain, such as observing transactions in real-time, viewing wallet activities, and many other interesting use cases. For a simpler understanding of Etherscan, think Google but for blockchain. Etherscan Homepage This easy-to-use and trusted blockchain tool mandates no sign-up required for users to access the ever-increasing depths of the Ethereum blockchain, rightfully earning it the Google for Ethereum analogy. The Origin Story of Etherscan Etherscan is a not-for-profit platform created by a small team of developers led by Mathew Tan, the current CEO, to make Ethereum more open and accessible to the public. “Our mission is to facilitate Blockchain transparency by indexing and making searchable all transactions on the Ethereum Blockchain in the most transparent and accessible way possible,” the team states. The blockchain explorer was launched in 2015, around the same time as Ethereum, in Kuala Lumpur, Malaysia. Etherscan boasts of having 5 million users per month, who use the platform as the “source of truth” for events and occurrences on the Ethereum blockchain. Etherscan also serves as an archive for Ethereum and stores historical data for newer generations of Ethereum and blockchain enthusiasts. The network is completely independent and is not funded or managed by the Ethereum Foundation, allowing it to maintain an unbiased stance on Ethereum. Understanding Etherscan The basic functionality of Etherscan is similar to any other blockchain explorer. It allows users to look up transactions, wallet activities, smart contracts on the blockchain, and so much more. Etherscan brings all this functionality to the fingertips of the user, through a search bar or by navigating the menu options on the homepage of the website. Blockchain technology provides transparency for all activities, giving users an avenue to query data. Etherscan simply acts as an aggregator and visual interface to this data; a search engine. Not only that, its use case has expanded over the years to include more data and services as it evolves with the general blockchain ecosystem. As mentioned earlier, users can choose between creating an account or using the platform without one. Not having an account does not limit the amount of data users can access in any way. Also, developers can easily access the API services to build decentralized applications (dApps) or serve as a data feed. More on this later. Due to its support for user accounts, some people think Etherscan is a wallet service provider; it isn’t. Also, wallet addresses cannot be integrated on Etherscan. However, users can input and verify their Ethereum address on Etherscan and track transactions and activities. Why Use Etherscan? Now that you know the basics of Etherscan, the question “why” might have crossed your mind. Answering why you should use the blockchain explorer is necessary to becoming an independent-thinking blockchain user. Gaining more knowledge on how to explore and analyze the blockchain will give you a better perspective as a blockchain user or enthusiast. Beyond that, knowing how to use Etherscan can save you from making wrong or costly decisions and even set you ahead of the curve. For instance, monitoring whale activities will keep you updated with the movements of large amounts of cryptocurrency to and from exchanges. Most times, this knowledge or information can be used to preempt market rallies or sell-offs in the crypto market, allowing you to position strategically. You can also use the information from Etherscan to conduct in-depth due diligence on the founders of a token and what they are doing with the underlying token. This insight can allow you to identify potential scams or rug pulls. How To Use Etherscan Blockchain or Ethereum enthusiasts can simply log on to the Etherscan website and begin exploring, it’s that easy. To view specific wallet details and transactions, however, the user will need to provide the specific wallet address or the transaction ID. Etherscan allows users to quickly search the desired address, transaction ID, block, token, or the Ethereum Name Service (ENS). As noted earlier, think of it the same way you would input a term into the Google search bar. Users can also browse or search transaction history and examine the existing state of the Ethereum network from the Etherscan homepage. Additionally, users can create watchlists of accounts to track, make notes, and turn on notifications on their favorite or desired metrics or accounts. Described below are some of the ways users can decide to use Etherscan. Looking Up Transactions On Etherscan One of the most common uses of Etherscan is to view and track specific transactions. To look up specific transactions on the blockchain explorer, simply input the transaction ID on the search bar. Users can also open the transaction tab of a contract page, which would display every transaction related to the contract. This could include minting, transfers, sales, burning, settings on a wallet, and so much more. As one would expect, all this data and activity is time-stamped on the blockchain. Monitoring a Transaction Hash A transaction hash is used to track or trace the progress of a transaction on the blockchain. To monitor a transaction, simply copy the transaction hash in question and paste it into the search bar on Etherscan. Once you do this, a flurry of transaction details will be displayed. The displayed information would include transaction status (failed or successful), the block height in which it was sent, transaction costs, gas prices of the transaction, sender and recipient wallet address, and so much more. Examining a Wallet Address On Etherscan Users can easily view the transaction activity on a wallet and how the wallet’s balance changed over time. Wallet information can be gotten by inputting the desired wallet address and selecting “Analytics.” Once done, the user can see the data analytics on a wallet, such as existing and past balances, transaction history, and fees paid. Looking Up the Gas Fees Using Etherscan Etherscan can also be used to track gas prices, measured in Gwei, on the Ethereum network. Gas prices are a crucial part of transaction fees on Ethereum and allow users to trace a transaction up to the block it was confirmed. Every block on the network features specific gas prices, which varies based on existing network traffic or other conditions. Gas Tracker Apart from monitoring gas fees on other transactions, users can track gas fees through the “gas tracker” option, and track or review existing gas prices to make more informed decisions on transactions. Also, the gas tracker tool serves as a metric for predicting network congestion and, as a result, possible price dynamics. Users can also use the gas tracker to determine gas prices required for interacting with certain smart contracts. Viewing NFTs On Etherscan Etherscan released a new feature in 2022 to allow users to view NFTs directly from the platform. In a typical Etherscan fashion, this new feature allows users to get a breakdown of all the information on the underlying NFT, allowing for better trading decisions. This new feature also makes it easier for newbies or beginners to navigate the NFT space and boosts the transparency of NFT ownership and transactions. This makes it easier to verify that an NFT seller is the original owner of an NFT and not a scam. NFT holders can also view their collections on one page. They can do this by opening the Etherscan homepage and inputting (copy and paste) their wallet addresses on the search bar. On the transaction bar, click ‘ERC721 Token Txns’ and instantly have the list of your NFTs displayed on your screen. Take it up a notch by clicking on the ‘Details’ column and clicking ‘View NFT>’ to view the NFT details and properties. Reviewing Token Approvals for dApps Interacting with a dApp automatically gives out some wallet information and access to the dApp in question. This makes it imperative to know exactly what dApp you’re interacting with and if you want that project to have access to your wallet. Token Approval While vetting a DeFi project before interacting with it would save you from several potential pitfalls, you want to be sure the trusted project remains true to its goals and mission or has not been compromised. Etherscan has you covered. Apart from providing the necessary information on a dApp, Etherscan allows users to revoke wallet access to decentralized applications. Users can revoke wallet access by going through the Token Approval Checker portal, which gives the option of blocking a specific dApp the user no longer trusts. Simply search your wallet address on the Token Approval Checker option, review the list of approved smart contracts on the wallet, and click on the ‘Revoke’ icon to end a dApp’s access to your wallet. Viewing Smart Contracts On Etherscan Ethereum remains the king of DeFi and the broadest blockchain ecosystem, making it an integral part of the decentralized finance space. As such, Ethereum is the most preferred option for smart contracts. Smart Contracts Search Page Using Etherscan to search smart contracts and their interactions is a good way to avoid losing funds by sending to the wrong contract. Etherscan Contracts This blockchain explorer makes it easier to research the history of smart contracts and verify ownership. Finding Airdrops On Etherscan Etherscan recently got updated with functionality that provides airdrop details and support. While users cannot capture every airdrop as they are launched, Etherscan allows users to see an overview of which airdrops are active or not, thereby helping the user maximize their possibility of capturing airdrops. This feature also works well for those trying to confirm their eligibility for certain airdrops. Tracking DEX Activities Users of Etherscan can look up information about their favorite decentralized exchanges. Etherscan provides a statistical representation of DEX activities and performance. DEX Pie Chart Charts on DEXs can be customized to include preferred metrics and format and can be downloaded. DEX Tracker Viewing ERC-20 Token Activities Etherscan allows users to keep track of their favorite ERC-20 and ERC-721 tokens in the market. Simply by typing the name of the token into the search bar, users can get in-depth token information, such as the current price, current market capitalization, total number of token holders, number of transactions, contracts listed on the token, and every single transaction involving that token. Token Tracker ERC-721 Page Such utility comes in handy when a user is trying to decide on interacting or investing with a new crypto asset. Users can see the token distribution structure of the project by viewing the holders, which is useful when trying to assess if the token is susceptible to whale manipulation or uneven distribution. Minting NFTs On Etherscan Etherscan can be used by NFT enthusiasts to mint their favorite non-fungible tokens. This is especially useful in times when the hype surrounding the launch of a token causes massive traffic on minting websites, which could cause the website to slow down, be unresponsive, or crash. Etherscan NFT Minting Users can mint the NFT in question directly from the projects’ smart contracts on Etherscan. Several NFT projects, such as Loot, have been minted exclusively through the contract. To mint NFTs using Etherscan, start by making sure you have enough tokens in your wallet, then search the smart contract address through the search bar on Etherscan. You would have to connect your wallet to the platform using the ‘Connect to Web3’ icon. After this, you can click on ‘mint,’ input the transaction details, confirm the transaction, and get the NFT deposited to your wallet. Using Etherscan’s API Another important feature of Etherscan is its application programming interface (API) services. This feature is useful to expert blockchain users and developers and also useful to beginner and intermediate blockchain users for educational purposes. Developers can create an account on the blockchain explorer and use its APIs to create decentralized applications. NFT enthusiasts can also benefit from creating dApps on Etherscan as the dApp would have a dedicated NFT tracker page, where it tracks all NFT transactions and activities on Ethereum. Etherscan also allows developers to integrate its services into their apps or website, which would allow them to display information and statistics directly from Etherscan. Etherscan API Integration Some of the information the API can allow users to display on their websites include specific account information, contracts, transactions, blocks, event logs, Geth/Parity Proxy APIs, and other blockchain statistics. Tracking the Ethereum Blockchain One of the most common uses of Etherscan is to view information about Ethereum. The blockchain explorer can be used to view charts and statistics and derive overviews of the entire Ethereum ecosystem, including market metrics such as daily transactions, unique addresses, and average block size. Ethereum Statistics Information like this is invaluable for Ethereum experts and enthusiasts, especially as the behemoth blockchain transitions from a Proof-of-Work (PoW) system to a Proof-of-Stake verification method. Ethereum Data Limitations of Etherscan While Etherscan provides immense benefits to its users, it is not without its drawdowns. For one, the information provided by the platform can be overwhelming for some, especially newbies or beginners. Another drawdown experienced by most traders is that Etherscan does not provide active trading charts. Users would have to toggle between screens to access active trading charts and view Etherscan statistics. Also, trades on digital assets cannot be executed from the platform, making it unsuitable as a standalone investing or trading service. Final Word Etherscan is an easy-to-use, detailed, and free blockchain analytics tool, making it almost indispensable for those who have grown accustomed to using it. Most of the tools on the platform can be learned and mastered within a short period, as they are basic and explanatory. This makes the platform perfect for users looking to improve their blockchain analytics skills. While there are other blockchain explorers on the market today, Etherscan remains ahead of the pack in many ways, considering it was the template used by most competitors. This makes your acquired Etherscan skills easily transferable to other analytics platforms.   Source: https://www.kucoin.com/blog/what-is-etherscan-and-how-to-use-it
The Previous Week Was Definitely Dominated By The Ethereum's Merge, Now Cryptocurrency World Is Likely To Focus On Fed And Macroeconomy

The Previous Week Was Definitely Dominated By The Ethereum's Merge, Now Cryptocurrency World Is Likely To Focus On Fed And Macroeconomy

Kucoin Blog Kucoin Blog 19.09.2022 14:27
Table of Contents 1. Crypto Market Overview 2. Top Altcoin Gainers and Losers 3. News Highlights This Week: 4. Crypto Calendar: Events to Watch This Week The previous week was optimistic for the crypto market as enthusiasts cheered the Ethereum Merge, marking the transition of the leading smart contract blockchain to a proof of stake consensus. Although, the optimism didn’t translate to the market’s performance, with Bitcoin and altcoins, including Ether, trading in the red through the period as the focus shifted to Fed’s rate hike concerns.   The total cryptocurrency market volume has spiked by 47.73% in the past 24 hours to $70.93 billion, an encouraging sign suggesting high interest in this asset class among investors. The global cryptocurrency market capitalization dropped by 6.53% to $908.72 billion in the past 24 hours, falling under the key $1 trillion mark.   Let’s take a look at some of the biggest news from the crypto market and how they can impact digital currencies in the coming week:   Crypto Market Overview After rising to a high of $22,673.82 in the past week, Bitcoin (BTC) has fallen under the critical $20,000 level and is going further down following a weekly loss of more than 13%. At press time, the crypto king by market cap trades under the $19,000 level but bounced slightly higher than its weekly low of $18,644.47.   Cryptocurrency Market Heatmap | Source: Coin360   A few days after the Merge successfully saw Ethereum (ETH) transition from a proof of work (PoW) to a proof of stake (PoS) network, ETH/USDT gave back its gains after reaching a high of $1,745.78. Ether is down by 24.71% as the optimism over the ETH Merge event fades, and the bearish sentiment engulfs the second largest crypto.   The only altcoin that traded in the green over the past week was Chiliz (CHZ), strengthening by 11.17% in seven days. The altcoins that fared the worst in the market include Terra (LUNA), which was down by 48.08% for the week, followed by Terra Classic (LUNC) and Gnosis (GNO), which registered weekly losses of 31.90% and 26.81%, respectively.   Top Altcoin Gainers and Losers Top Altcoin Gainers Chiliz (CHZ) 11.39% Dai (DAI) 0.14% Binance USD (BUSD) 0.07% Top Altcoin Losers Terra (LUNA) 48.08% Terra Classic (LUNC) 31.90% Gnosis (GNO) 26.81% News Highlights This Week After much excitement in the previous week surrounding the landmark Ethereum Merge event, this week’s on the quieter side regarding fundamentals as far as the crypto market is concerned. The focus will remain squarely on factors outside the market, including Fed rate hikes, inflation worries, and the possibility of a global economic recession.   Here are some of the biggest headlines you need to know before trading cryptocurrencies this week:   Crypto Market in Bear Mode - Fed’s Rate Hike and Recession Fears Weigh Macroeconomic factors continue to dominate the minds of crypto investors as all attention turns to the US Fed Chair Jerome Powell, who could announce a 75bp rate hike this month. Tesla CEO and crypto influencer Elon Musk has already cautioned that a steep hike in interest rates by the Fed and peak Fed hawkishness could bring about deflation in the market, further impacting riskier instruments like digital assets.   Despite the cryptocurrency market enjoying strong fundamentals and increasing adoption, the sentiment continues to experience bearishness due to fears of a recession in the global economy. Rate hikes by the US Federal Reserve and other central banks increase the cautious mood among international investors and send them towards safer instruments and away from riskier instruments like cryptos and equities. This is one of the significant reasons the market exhibits signs of weakness into a new week.     Analysis of Social Trends in Crypto | Source: Santiment   To make matters worse, the risk-averse mood is further boosted by the World Bank’s warnings about a possible global economic recession in 2023. With central banks worldwide set to follow in the Fed’s footsteps with aggressive rate hikes to offset inflation against the backdrop of ongoing geopolitical tensions, a slowdown is inevitable. Will Bitcoin and other digital assets hold up and thrive through their first-ever global downturn?   Crypto Fear & Greed Index Signals Extreme Fear According to analytics firm Alternative, the Fear & Greed Index signals Extreme Fear among crypto investors. The indicator considers multiple factors to provide sentiment analysis of the crypto market. The index’s score of 21 is lower than last week’s 25 and a sharp drop from yesterday’s 27, signaling a more bearish bias among crypto investors.     Fear & Greed Index | Source: Alternative   Analysis of social trends in the crypto market from Sentiment also includes a bearish mood among crypto traders and investors. The most popular terms associated with BTC/USD include bottom, sell, bear market, rekt, and inflation.   On a somewhat positive note, however, there is considerable chatter on social media over the Ethereum Merge, keeping ETH/USD and the Ethereum ecosystem trending. Another digital asset doing well as far as social dominance in crypto markets is concerned is Cardano, but more on that later.   Institutional Investor Interest in ETH Grows After the Merge Analysis of ETH futures trading indicates a strong interest in the world’s second-largest cryptocurrency among investors through the week of the Merge. A comparison of the CME futures trading charts of Bitcoin vs. Ethereum shows higher activity in ETH, suggesting growing interest in Ether among institutional investors, thanks to the critical event.   BTC vs. ETH Futures | Source: TradingView   However, now that the Merge has happened and Ethereum has transitioned to PoS consensus, we’ll have to wait and see if the institutional investor interest in the crypto continues to grow and strengthen. The futures trading charts offer the most promising insight into the level of interest institutional investors have in a particular asset.   Cardano Gets Ready for Vasil Hard Fork This Week Moving beyond the market sentiment, Cardano (ADA) is getting ready for its next major network upgrade on Sep 18, 2022. The Vasil hard fork event was initiated on Sunday, 18 September, and will go live per schedule.   The Vasil era is the most ambitious upgrade to the Cardano blockchain and will usher in significant improvements in its scalability. Plutus V2 scripts will also improve the smart contract capability of the network, making the blockchain an even more attractive platform for decentralized applications (dApps) in the future.     ADA/USDT H4 Price Chart | Source: KuCoin TradingView   Ahead of the hard fork, Cardano’s social activity is on the uptick. This has also translated into higher buying activity in the ADA/USDT crypto pair in the near-term. Santiment’s Social Dominance chart analysis shows a higher volume of social traffic around Cardano even as the enthusiasm over Ethereum Merge fades online.   Will SEC vs. Ripple Case Close Soon? There may soon be light at the end of the tunnel for Ripple (XRP) holders in the lawsuit. Ripple Labs and the US SEC have filed motions for summary judgment in the Southern District of New York, asking the judge to pass a ruling on the case with the information presented.   The move could expedite a ruling, ending the prolonged uncertainty Ripple’s XRP has faced about its status as an unregistered security. Irrespective of whether the judge rules in favor of Ripple Labs, the end of the lawsuit could bring significant relief to holders of the XRP cryptocurrency, which has suffered immensely due to the uncertainty and delays in the case.   Norway’s Central Bank Plans CBDC on Ethereum More potential good news for the crypto market is the Norwegian Central Bank’s decision to explore the nation’s digital currency based on the Ethereum blockchain. Earlier this month, Norges Bank - the central bank of Norway, announced on Twitter that the Nordic nation’s CBDC (central bank digital currency) would be based on Ethereum.   Ethereum will provide the core infrastructure to manage the issuance, distribution, and destruction of Norway’s CBDC. As of July 2022, nearly 100 countries worldwide are in various stages of experimenting and adopting CBDCs as the future of money, with Nigeria and The Bahamas leading the way by fully launching their projects to date.   Crypto Calendar: Events to Watch This Week 20 September 2022 - Metarun (MRUN) - Metarun Public Launch 20 September 2022 - Secret (SCRT) - Mainnet Upgrade 20 September 2022 - Youclout (YCT) - Landsale Launch 21 September 2022 - EOS (EOS) - Antelope Leap V3.1.0 22 September 2022 - Cardano (ADA) - Vasil Upgrade 25 September 2022 - HyperonChain (HPN) - Mainnet Launch Sign up on KuCoin, and start trading today! Follow us on Twitter >>> https://twitter.com/kucoincom Join us on Telegram >>> https://t.me/Kucoin_Exchange Download KuCoin App >>> https://www.kucoin.com/download Also, Subscribe to our Youtube Channel >>>Listen to 60s Podcast Source: Weekly Crypto Analysis: Week After Ethereum Merge, Crypto Market Weighed Down by Rate Hike and Recession Fears | KuCoin
JPMorgan's CEO's Reluctance To Digital Assets, The Ethereum Market Is Still In The Short-term Down Trend

Ethereum Is In Upward Trend And Is Still In Bullish Mood

InstaForex Analysis InstaForex Analysis 20.09.2022 09:38
Technical outlook: Ethereum climbed through $1,392 during the New York session on Monday before pulling back. The crypto is seen to be trading close to $1,365 at this point in writing and is projected to target up to the $1,800 initial resistance in the near term. Ideally, prices should stay above the $1,279 interim lows to keep the near-term bullish structure intact. Ethereum has bounced off the Fibonacci 0.618 retracement of the larger-degree upswing/rally between $800 and $2,031 as seen on the 4H chart here. Furthermore, it is also the past resistance-turned-support zone around the $1,270-80 mark that has provided the bounce. The bulls seem to be under control for now and are targeting at least $1,800 to go past initial resistance. Ethereum's drop between $2,031 and $1,279 has been in three waves and hence corrective. A continued rally from here towards the $1,790-1,800 levels will confirm that the bulls are poised to push above $2,031 before giving in to the bears again. Only a sustained break below $1,250 will delay matters and might bring back the bears to the market. Trading plan: Potential rally towards $1,800 against $1,279 Good luck! Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade   Relevance up to 07:00 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/293361
The Bears Have Taken Full Control Of The Ethereum Market

The Bears Have Taken Full Control Of The Ethereum Market

InstaForex Analysis InstaForex Analysis 20.09.2022 09:55
Crypto Industry News: Last week we witnessed one of the most anticipated developments in the cryptocurrency industry, ie Ethereum switched to Proof of Stake. At the time of the update, the ETH price was around $ 1,600 and a few hours later it had risen to around $ 1,650. However, it was then that the bears took full control of the market and brought prices down to a 2-month low, i.e. below $ 1,300. At the time of writing, ETH costs around $ 1,340, down almost 8% in the last 24 hours and about 20% from the event mentioned. This has made many believe that the update has turned into what transactions refer to as "buy the rumor, sell the news." In other words, investors bought ETH when the merger date was announced earlier this year and sold it when the actual event took place. Another possible cause of the drop could be that many people may have purchased ETH while waiting for the ETHW airdrop. It is also worth noting that the macroeconomic situation remains difficult and the market is waiting for the last Fed decision on interest rates, which is due later this week. Technical Market Outlook: The ETH/USD pair had broken below the last month's low seen at the level of $1,423 and made a new weekly low at the level of $1,281 before a shallow bounce occurred. The levels of $1,358, $1,407 and $1,424 will now act as the technical resistance for bulls as the market is trying to extend the bounce from the extremely oversold conditions on the H4 time frame chart. The next target for bears is seen at the level of $1,281, $1,267, $1,255 and below. Despite the extremely oversold market conditions on the H4 time frame chart, the momentum remains weak and negative, which might indicate the ETH is still in the short-term down trend. Weekly Pivot Points: WR3 - $1,460 WR2 - $1,386 WR1 - $1,346 Weekly Pivot - $1,312 WS1 - $1,272 WS2 - $1,238 WS3 - $1,164 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281.9. If the down move will extend, then the next target for bears is located at the level of $1,000. Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade   Relevance up to 08:00 2022-09-21 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/293369
Further Development Of Ethereum, The Momentum Of Ethereum Remains Weak And Negative

Further Development Of Ethereum, The Momentum Of Ethereum Remains Weak And Negative

InstaForex Analysis InstaForex Analysis 21.09.2022 11:55
Crypto Industry News: Ethereum co-founder Vitalik Buterin shared his vision of Layer 3 protocols. While Layer 2 protocols focus on "scalability", the next protocols would serve different purposes. Further changes to Ethereum While Ethereum-based Layer 2 solutions focus on scaling networks, Buterin believes their Layer 3 counterparts will serve a completely different purpose - providing "tailored functionality". He shared his thoughts in a post from September 17th, outlining three "visions" of what Layer 3 solutions will be used for in the future. Ethereum co-founder said that the third layer in a blockchain only made sense if it provided a different functionality than layer two. "The 3-tier scaling architecture, which is to lay down the same scaling scheme on top of each other, usually doesn't work well," he said. Except that "a three-tier architecture in which the second and third layers have different goals, can work" he added. One use case for Layer 3 would be what Buterin describes as "customized functionality" by referring to privacy-driven applications. Another use case would be "customized scaling" for specialized applications that do not wish to use an Ethereum Virtual Machine (EVM) to perform computation. Buterin also added that layer 3 can be used for scaling with the Validiums tool. This can be beneficial for enterprise blockchain applications by using a "centralized server that runs validation checks and regularly shortcuts the chain." However, Buterin also noted that since interchain transactions can be performed easily and cheaply between two tiers 2, building tier 3 does not necessarily improve network performance. Technical Market Outlook: The ETH/USD pair had broken below the last month's low seen at the level of $1,423 and made a new weekly low at the level of $1,281 before a shallow bounce occurred. The levels of $1,358, $1,407 and $1,424 will now act as the technical resistance for bulls as the market is trying to extend the bounce from the extremely oversold conditions on the H4 time frame chart. The next target for bears is seen at the level of $1,281, $1,267, $1,255 and below. Despite the extremely oversold market conditions on the H4 time frame chart, the momentum remains weak and negative, which might indicate the ETH is still in the short-term down trend. Weekly Pivot Points: WR3 - $1,460 WR2 - $1,386 WR1 - $1,346 Weekly Pivot - $1,312 WS1 - $1,272 WS2 - $1,238 WS3 - $1,164 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281.9. If the down move will extend, then the next target for bears is located at the level of $1,000. Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade Relevance up to 08:00 2022-09-22 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/293567
Bearish Sentiment Also Dominates The Cryptocurrency Markets

Bearish Sentiment Also Dominates The Cryptocurrency Markets

InstaForex Analysis InstaForex Analysis 21.09.2022 14:03
Bearish sentiments predominate in both crypto and regular markets as investors worldwide await the FOMC meeting and the following interest rate hike by the Federal Reserve. Currently the US central bank is expected to increase the Fed funds rate by 75 basis points. However, some believe that a 100 bps hike could be on the table, as inflation remains a constant issue. Bitcoin was under pressure throughout Tuesday's session. Bearish traders now have a short-term technical advantage as BTC fell below the low of early September. While the situation might seem bleak, it is not hopeless, and Bitcoin could recoup its losses, independent market analysts Michael van de Poppe said. Ethereum continues its attempts to gain momentum after The Merge successfully concluded last week. ETH decreased slightly by 0.25% and hovered at $1,327 at the moment of writing. According to CoinMarketCap, out of the 200 top tokens, the best performing cryptocurrencies over the past day were Helium (HNT), which jumped by 10.48%, Render Token (RNDR), which gained 8.43%, and Syscoin (SYS), which rose by 7.11%. The market capitalization of the crypto market currently stands at $929 billion. The Bitcoin Dominance Index is at 39.3%. Relevance up to 04:00 2022-09-22 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/322264
Ethereum Is Still In The Short-term Down Trend, The Draft Law About Stablecoins

Ethereum Is Still In The Short-term Down Trend, The Draft Law About Stablecoins

InstaForex Analysis InstaForex Analysis 22.09.2022 12:01
Crypto Industry News: A bill on algorithmic stablecoins has appeared in the US House of Representatives. If it is passed, it could in practice lead to a ban on this type of cryptocurrency. The law criminalizes the creation or issuance of new "endogenously secured stablecoins". So, in practice, it is about creating algorithmic stablecoins. However, officials want to give their creators a chance. If the new law comes into force, they will have two years to change the security models of their coins. The definition in the draft law states that these are stablecoins, the price of which depends on the value of another digital asset, which is backed by the same creator, and which were created to maintain the price of that stablecoin. It is not known how officials will approach, for example, synthetix USD (SUSD). The project is now protected by a native asset of the same protocol. Other unclear stablecoins include BitUSD, which is backed by bitshares (BTS). In terms of competences, the bill authorizes the US Treasury Department to carry out analyzes on stablecoins. This one would cooperate with the Federal Reserve, the Securities and Exchange Commission, the Federal Deposit Insurance Corporation and the Office of the Currency Controller. It turns out that the future of the algorithmic stablecoin market may be decided by a vote that is to take place next week. According to the media, the draft act was developed by Democrat Congresswoman Maxine Waters and her Republican colleague Patrick McHenry. Technical Market Outlook: The ETH/USD pair has extended the post-Merge sell-off below the key technical support located at $1,281 as the new swing low was made at $1,219. The levels of $1,358, $1,407 and $1,424 will now act as the technical resistance for bulls as the market is trying to extend the bounce from the extremely oversold conditions on the H4 time frame chart. Moreover, the bullish divergence between the price and momentum indicator is seen on the H4 time frame chart, so the bounce might be triggered any time soon. Nevertheless, the next target for bears is seen at the level of $1,100, $1,000 and $990. Despite the extremely oversold market conditions on the H4 time frame chart, the momentum remains weak and negative, which might indicate the ETH is still in the short-term down trend. Weekly Pivot Points: WR3 - $1,460 WR2 - $1,386 WR1 - $1,346 Weekly Pivot - $1,312 WS1 - $1,272 WS2 - $1,238 WS3 - $1,164 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281.9. If the down move will extend, then the next target for bears is located at the level of $1,000. Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade     Relevance up to 11:00 2022-09-23 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/293818
JPMorgan's CEO's Reluctance To Digital Assets, The Ethereum Market Is Still In The Short-term Down Trend

JPMorgan's CEO's Reluctance To Digital Assets, The Ethereum Market Is Still In The Short-term Down Trend

InstaForex Analysis InstaForex Analysis 23.09.2022 09:50
Crypto Industry News: Jamie Dimon - CEO of JPMorgan Chase & Co. - he reiterated his unfavorable position towards the cryptocurrency market. This time, in his statement, he described bitcoin and the rest of the digital assets as "decentralized Ponzi schemes." Aside from JPMorgan's CEO's open aversion to digital assets, the international investment bank has been offering its clients some services related to this market for some time. The company has recently announced that it will continue to provide this type of service, despite the downturn on the market. JPMorgan's executives are known for their hostility to cryptocurrencies and especially for their criticism of bitcoin. Dimon spoke about the first cryptocurrency for years, describing it as "worthless". Additionally, he warned investors to stay away from BTC. In his last speech, the 66-year-old banker once again highlighted his negative stance by calling bitcoin and the entire digital asset market "decentralized Ponzi schemes." He argued that criminals use digital currencies to carry out illegal operations, including money laundering and sex trafficking. Despite many examples of attacks on the cryptocurrency industry, especially from the banking sector, the reality shows that it is a bit different. This is because many banks face accusations of involvement in mass money laundering. During this time, the blockchain technology on which the entire cryptocurrency sector is based is completely transparent, which gives everyone the ability to track the flow of funds. To this day, cash remains the most common form in which criminals carry out drug and other drug transactions. According to various studies, it is estimated that from 34% to 39% of all cash in circulation is involved in such activities. Interestingly, Jamie Dimon, despite his aversion to bitcoin, is not at all critical of blockchain technology and stablecoins. He believes that they can benefit the financial system if a number of comprehensive regulations are introduced. A few months ago, the CEO of JPMorgan once again spoke warmly about blockchain technology and decentralized finance (DeFi). At the time, he said that these technologies were "real" and could be "implemented both publicly and privately, with or without consent." Technical Market Outlook: The ETH/USD pair has extended the post-Merge sell-off as the new swing low was made at $1,219. The bulls are trying to bounce, so the corrective cycle is ahead of us. The levels of $1,358, $1,407 and $1,424 will now act as the technical resistance for bulls as the market is trying to extend the bounce from the extremely oversold conditions on the H4 time frame chart. Moreover, the bullish divergence between the price and momentum indicator is seen on the H4 time frame chart. Nevertheless, the next target for bears is seen at the level of $1,100, $1,000 and $990. Despite the extremely oversold market conditions on the H4 time frame chart, the momentum remains weak and negative, which might indicate the ETH is still in the short-term down trend. Weekly Pivot Points: WR3 - $1,460 WR2 - $1,386 WR1 - $1,346 Weekly Pivot - $1,312 WS1 - $1,272 WS2 - $1,238 WS3 - $1,164 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281.9. If the down move will extend, then the next target for bears is located at the level of $1,000. Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade   Relevance up to 09:00 2022-09-24 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/293960