Ethereum saw a sharp 5.6% price fall this past week as it drops to $223. This has caused ETH to penetrate beneath a rising trend line that has been in play since mid-March 2020. Against Bitcoin, Ethereum failed to overcome 0.0253 BTC again and dropped to 0.0245 BTC. Key Support & Resistance Levels ETH/USD:Support: $215,...Read More
Compound (COMP) could be nearing a local price top, soon after the Ethereum-based decentralized finance (DeFi) token recorded a 258% growth in ten days. And while “yield farming” has driven much of that growth, the Compound community has passed through a development proposal that would see incentives taken away from would-farmers. Local COMP Top Incoming?...Read More
The crypto investors suffer from hard days recently, as the primary cryptocurrency tumbled approximately $1000 over the past five days. After a long battle to maintain the $9K mark, Bitcoin finally lost, and immediately plunged to $8816 on Binance Futures exchange, which is the current daily low, as of writing these lines. Aside from a...Read More
Bitcoin Bitcoin witnessed a 1.5% price decline over the past week as the cryptocurrency drops into the $9,190 level. The coin was trading at this price at the start of the week as it managed to push higher into the $9,815 level. BTC was unable to overcome this resistance, which caused it to fall back...Read More
Recent data indicates that Ethereum miners prefer holding their mined coins and have increased their balance in the past few weeks. At the same time, the number of ETH addresses containing from 100,000 to 1,000,000 coins have jumped by nearly 5% in June alone. Ethereum Miners HODL Because of the current proof-of-work consensus algorithm that...Read More
The sudden jump of total value locked on the DeFi platform Compound has caused a flippening event in the decentralized finance sector. The TVL on Compound surpassed MakerDao’s as of yesterday, and the gap continues expanding today. Compound Overtakes MakerDAO MakerDAO has been the predominant force for total value locked for years, according to data...Read More
Vitalik Buterin, the co-founder of Ethereum, has recently stated that interest rates on decentralized finance protocols that are significantly higher compared to those in traditional finance come with unstated risks attached. Vitalik Buterin on High DeFi Interest Rates The co-founder of Ethereum and one of the most prominent members of the cryptocurrency community, Vitalik Buterin,...Read More
The price of Compound (COMP) tokens is seeing a massive surge amid a manic week for the decentralized finance (DeFi) project, which included a listing announcement by U.S. crypto exchange giant Coinbase. Compound TVL Crosses $400M TVL Milestone With the number of lenders on the Compound protocol increasing rapidly, data from DeFiPulse shows the project...Read More
Bitcoin Bitcoin saw a period of sideways movement over the past week as it dropped by a small 0.5%. The cryptocurrency has pretty much traded between $9,600 and $9,200 over the past seven days as it remains above the rising trend line support. So long as BTC can continue above this rising trend line, the...Read More
Ethereum dropped by a small 1% over the past 24 hours as it fell to $232. The cryptocurrency is still trading above a rising trend line that has been in play since mid-March 2020. Against Bitcoin, Ethereum found support at 0.0243 BTC as it looks to tackle 0.025 BTC again. Key Support & Resistance Levels...Read More
Ethereum increased by 4% over the past 24 hours as it now trades at $233. The cryptocurrency spiked lower yesterday as it broke beneath a rising trend line, but the buyers quickly regrouped to push ETH above it before the close. Against Bitcoin, Ethereum fell into the support at 0.00243 BTC and rebounded from there....Read More
Arthur Hayes, the CEO of one of the leading Bitcoin derivative exchanges, BitMEX, has once again slammed a cryptocurrency for being a “shitcoin.” This time it was Bitcoin Cash (BCH) that’s under his radar. BitMEX Listing BCH/USD Perpetual Contract In an announcement from June 01st, 2020, BitMEX revealed that it’s going to launch a BCH/USD...Read More
A recent survey compiled by the cryptocurrency exchange BitMax indicates that the Japanese are quite fond of Ripple (XRP). Having to choose which their favorite digital asset is, most participants placed XRP close to Bitcoin and well above Ethereum. Japan Adores Ripple (XRP) The popular Japanese exchange posted the survey on Twitter to check among...Read More
The average time required to confirm a Bitcoin transaction has plunged significantly in the past month. Simultaneously, the average transaction fees continue to drop after reaching yearly-high following the 2020 halving. BTC Average Transaction Time Plunges Data provided by Blockchain.com shows that the average time needed for a BTC transaction to be included in a...Read More
Buying shares of Grayscale’s Ethereum Trust would require investors to pay a premium upwards of 750% compared to ETH’s current market price. ETH Sold For More Than $2000 On Grayscale Grayscale is a company that provides institutional investors with exposure to the price of cryptocurrencies such as Bitcoin and Ethereum through their trust products. The...Read More
Ethereum dropped by a total of around 1.5% today as it falls to the $235 level. The next level for ETH to break and start a bullish push lies at $250. Against Bitcoin, Ethereum still needs to break the strong resistance at 0.0253 BTC. Key Support & Resistance Levels ETH/USD: Support: $225, $215, $205. Resistance:...Read More
Charles Hoskinson, the co-founder of Input Output Hong Kong (IOHK), is getting increasingly upset for being associated with another project he co-founded – Ethereum. Hoskinson Doesn’t Like Being Called Co-Founder of Ethereum In a recent Twitter post, the co-founder of Input Output Hong Kong said that he doesn’t want people to refer to him as...Read More
Bitcoin Bitcoin saw a 3% decrease over the last week of trading as it drops into the $9,445 level. The coin started the week battling the $9,815 level as it proceeded higher to reach $10,000. Unfortunately, BTC was unable to capitalize above $10,000 and dropped by a steep 7% yesterday. Luckily, it found support at...Read More
Ethereum fell by a steep 6.7% over the past 24 hours as it drops toward $230. The cryptocurrency was struggling at the $250 level over the first two weeks of June but has remained supported at $225 thus far. Against Bitcoin, Ethereum struggles at the 0.025 BTC level. Key Support & Resistance Levels ETH/USD: Support:...Read More
Yesterday, an unusual transaction grabbed the community’s attention as someone paid 10,668 ETH (over $2.6 million) in fees, while the value it transmitted was only 0.55 ETH. Today, another transaction originating from the same wallet carried 350 ETH, and the fee was again – 10,668 ETH. The mining group that mined the block has urged...Read More
Stablecoins are touted as a hedge against the high volatility in the cryptocurrency markets since they are pegged to a relatively stable asset or a basket of assets like fiats or precious metals. However, new findings reveal that some of these tokens have ties with illicit activities like Ponzi schemes. In its latest state of...Read More
Ethereum surged by a total of around 20% over the past two weeks, but it struggles to break $250. The cryptocurrency has been trading between $235 and $250 for the entire period of June. Against Bitcoin, Ethereum struggles to pass the resistance at 0.0253 BTC. Key Support & Resistance Levels ETH/USD: Support: $240, $235, $225....Read More
A recent transaction on Ethereum’s network saw someone pay 10,668 ETH in fees while the actual value of the transaction was 0.55 ETH. This isn’t the first instance of something like this happen as insane fees have been paid on several occasions in the past. $2.5 Million Worth of ETH Fees for a Single Transaction...Read More
A study compiled by the American multinational financial services corporation Fidelity Investments informed that a third of large institutional investors own a form of cryptocurrency. The highest level of interest came from Europe, followed by the US. Institutional Investors Choose Cryptocurrencies According to the report from Bloomberg citing the survey from Fidelity, 36% of all...Read More
ConsenSys, the blockchain software company headed by Etherem’s co-founder Joseph Lubin, plans to launch a compliance service focused on decentralized finance projects (DeFi) and cryptocurrency exchanges to analyze and track transactions utilizing the Ethereum network. ConsenSys To Launch A New Service According to a recent Bloomberg report, the new service coming from ConsenSys will primarily...Read More
Recent data indicates that Bitcoin transaction fees have been decreasing after the post-halving peak, while Ethereum fees are on the rise. As such, the total amount in fees spent on the Ethereum network has surpassed Bitcoin’s, and the gap continues to grow. The “Feepening” Ethereum Vs. Bitcoin According to information from the cryptocurrency data company...Read More
To say that this week has been a wild ride is definitely an understatement. Bitcoin’s price went nuts and kept everyone on edge. In the span of 24 hours, BTC went to surge from $9,400 to almost $10,500 and then back to $9,400 and even lower down to $8,600 on BitMEX. This whole ordeal saw...Read More
Bitcoin Bitcoin may have only seen a small 2.5% price surge over the last week of trading, but it was action-packed. On Monday, it surged from $9,426 and managed to rise as high as $10,430 to re-test the 2020 high. Unfortunately, it was unable to keep itself above $10,000 and dropped lower during the week...Read More
Ethereum’s hash rate has increased by nearly 30% since the start of 2020 to the current levels of 187,369 GH/s suggesting that miners are becoming more involved before the impending launch of Ethereum 2.0. ETH Hash Rate Rises In 2020 According to data from Etherscan, ETH’s hash rate started the year at approximately 147,405 GH/s....Read More
Ethereum surged by 15% over the past week of trading as it reaches $243. The coin broke above an ascending triangle pattern to end the consolidation during the week. Against Bitcoin, Ethereum has broken the upper boundary of a wide symmetrical triangle. Key Support & Resistance Levels ETH/USD: Support: $240, $225, $220. Resistance: $245, $250,...Read More
