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Tag: ETH

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Bitcoin And Ethereum May Awaken Bears If Fail To Hold This Level! Here’s Where BTC And ETH Price Are Heading This Weekend

February 4, 2023 by Felix


As the crypto market brings a worrying situation by trading on the verge of a flip price range, investors are keeping a close eye on leading assets: Bitcoin and Ethereum. With the weekend approaching at a fast pace, several analysts are wondering if BTC and ETH prices will be able to make a bullish comeback or form a price bottom. 

BTC And ETH Prices Face Intense Pressure From Sellers

This week seems to bring a barrier in the price chart of Bitcoin and Ethereum as both face an ongoing consolidation near a critical price level. Market leaders claim that a slowdown in the upward journey may cause another bearish reversal, slumping leading assets to December price levels. 

Bitcoin Price Analysis

This month has brought a high of $24K for Bitcoin since August 2022, pushing the trendline of BTC dominance exponentially. However, on-chain metrics suggest that Bitcoin’s dominance has recently started forming a dip after facing rejection near $24K, signifying an upcoming altcoin rally. Moreover, the largest Bitcoin corporate holder, MicroStrategy’s quarterly financial report, posts substantial losses, creating turmoil in the BTC price chart. 

As of writing, BTC price trades at $23,665 with a decline of nearly 1%. A pseudonymous trader predicted a potential dip in Bitcoin’s price trend. The analyst predicts that the Bitcoin price may drop heavily if it witnesses profit-taking sentiment from investors at $24K. If Bitcoin falls below $23K, it may reach its November high of $21K, from which Bitcoin may trigger a possible upward retracement. 

Ethereum Price Analysis

Ethereum price chart looks bullish as it maintains its momentum near the $1,650 price level. Moreover, the ETH network will activate its Zhejiang public testnet next week ahead of the Shanghai upgrade, which may develop a bullish scenario for the asset. However, a downtrend near $1,700 remains a concern as investors are looking to liquidate their holdings to avoid any upcoming risk that happened during the Merge event last September. 

According to CoinMarketCap, ETH’s price trades at $1,662. Analyzing the daily price chart, Ethereum may face a rejection near the $1,700 level as the RSI-14 trades in an overbought region. Ethereum price may form a support level near the EMA-100 trend line at $1,563, which may spark a fresh bull run ahead of the much-anticipated Shanghai upgrade. 

However, a bullish trend is expected if Ethereum breaks its monthly resistance level of $1,700, above which the ETH price may take bulls to the $2K price level.  



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Snowfall Protocol (SNW) Presale Set To Sell Out As Bitcoin (BTC) and Ethereum (ETH) Prices Signal Increased Market Enthusiasm

February 3, 2023 by Felix


As the year begins, the crypto market is obviously regaining its feet after the crypto winter of 2022. Bitcoin (BTC) and Ethereum (ETH) are at the forefront of this new rally, trading around the $23,000 and $1,500 mark, respectively.

This could only mean one thing; market enthusiasm is once again on the rise, and groundbreaking protocol Snowfall Protocol (SNW), currently in its final presale phase, is sailing on this wind as it is set to sell out very soon.

Bitcoin (BTC)’s Recent Rally Hints At A Healthier Ecosystem

Since its inception in 2009, Bitcoin (BTC) has had a rollercoaster journey up until 2023. In November 2021, the King coin achieved a feat that seemed impossible when Bitcoin (BTC) first launched. It hit an all-time high of $65,000. However, by 2021 in the heat of the bear market, Bitcoin (BTC) had plummeted below $20,000, going even lower at times.

But following FTX filing for bankruptcy, Bitcoin (BTC) is beginning to rally again. According to Cointelegraph, on-chain data revealed that the recent short liquidation dominance is behind this rally. This is because it creates automatic Bitcoin (BTC) buys, driving up its price. Apparently, this dominance helped clear the market of unhealthy investments and has made room for the futures market to trend toward longs.

Ethereum (ETH) Updates Will Attract Favorable Investments, Says Expert Observers.

Additionally, the second largest crypto by market cap, Ethereum (ETH) launched its newest update, the Zhejiang testnet on the first of February ahead of the Shanghai and Capella hardfork. A move that would potentially allow validators on the network to safely withdraw Ethereum (ETH) from the network without destabilizing it.  

This move was highly anticipated since the blockchain for smart contracts had switched from a proof-of-work mechanism to a proof-of-stake one in a massive event called the Merge in 2022. This was especially important for Ethereum (ETH) users because some of their investments had been locked in for more than two years. 

Analysts have predicted that the upgrades would be advantageous to Ethereum (ETH) staking. And the crypto’s price has not only rallied but also remained relatively stable throughout the preparation and launch of the testnet.

Snowfall Protocol (SNW) is Not Left Out From This Rising Market Enthusiasm

Another beneficiary of this market turnaround is the Snowfall Protocol (SNW), a cross-chain transfer ecosystem for both Fungible and Non-fungible tokens. This platform is the very first of its kind, built to provide secure, reliable, and autonomous transactional highways between the myriads of blockchains and ecosystems scattered all around the world of crypto. 

Although Snowfall Protocol (SNW) is still in the final part of its presale phase, the crypto promises to spike over 1000% before it is over. This is because it is providing groundbreaking technology, bridges that can link EVM to non-EVM compatible chains, and wrapping and swapping non-fungible tokens between blockchains. 

Snowfall Protocol’s token (SNW) was sold at $0.05 in the first phase of its presale, and by the end of this third phase, it would be going for $0.75. Of the total supply of Snowfall Protocol (SNW), only 30% is available, and the price would just keep rising as buyers increase.

The developers of Snowfall Protocol (SNW) have created a platform that offers users a secure way to navigate all their numerous holdings from one place in a secure and user-friendly manner. As a result, savvy investors are buying out the multi-chain solution presale offer as fast as possible.

These three tokens, Bitcoin (BTC), Ethereum (ETH), and Snowfall Protocol (SNW), among others, are restoring investors’ faith in the crypto market. Bitcoin (BTC) with its price recovery, Ethereum (ETH) with its continuous efficient upgrades and stability, and Snowfall Protocol (SNW) with its innovative technology that is changing the way crypto transactions are conducted forever, with its mission of creating a bridge that would link the entire world of crypto.

Learn more about SnowFall Protocol from the links below:

Presale | Telegram | Twitter

Disclaimer: This is a press release post. Coinpedia does not endorse or is responsible for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company.





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Ethereum Price Analysis: ETH Price To Have a Bullish Ride Soon! Here Are The Levels To Watch

February 3, 2023 by Felix


Ethereum (ETH) is noticeably on the rise along with the overall increase in performance of most crypto assets. Though general crypto market sentiment continues to be the key driver of Ethereum price growth, network activity has boosted confidence among all Ethereum investors. In January 2023, Ethereum emerged from a downturn that had been in place since May.

According to the Titan of Crypto, Ethereum is forming a Bullish Cypher Pattern. “Just like for #BTC, a bullish cypher pattern is currently playing out on #ETH weekly chart as well,” he said on Twitter. 

According to the anonymous cryptocurrency analyst Crypto Yoddha, Ethereum has successfully broken out of the symmetrical triangle or “pennant,” paving the path for its price to perhaps reach $3,500 soon.

This pattern specifically appears when the price of an asset consolidates in a way that results in two trend lines that are converging and have about equal slopes. Price is poised to either break through the top trendline for a breakout or the lower trendline for a breakdown as it progresses toward the apex.

According to experts, ETH’s Aroon Indicator shows a decline in positive sentiment. An analytical tool for determining trend strength and trend alterations is the Aroon indicator. The strength of the uptrend is measured by the “Aroon up” line, and the strength of the downtrend is measured by the “Aroon down” line. The Aroon Indicator shows that the bullish mood has dramatically waned during the last few weeks on the daily chart and at 21.43%, the Aroon Up line was seen.

At the time of writing, Ethereum is trading at $1,680 and is up by more than 7 percent in the last 24 hours.



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Ethereum (ETH) Bulls Weaken As Profit-Taking Intensifies

February 2, 2023 by Felix


The largest altcoin, Ethereum (ETH), saw a rally of over 30% during the first month of January. As a result, Ethereum opened February with a 10% increase and is currently trading around $1,666. On-chain data suggests that a significant number of ETH holders have been taking profits after a tumultuous 2022. 

According to Coinglass, approximately $34 million has been liquidated in the Ethereum market in the past 24 hours.

The upcoming Shanghai upgrade, which will allow for the withdrawal of staked Ethers, is expected to lead to increased sell pressure both before and after the event. Additionally, staked ethers have been locked for the past two years and some validators may choose to take profit.

Taking into account these and other on-chain factors, Santiment predicts that Ethereum holders should be prepared for a challenging February, with the possibility of a reversal.

Ethereum: Price Action Analysis

According to on-chain intelligence firm Santiment, the Ethereum bulls have weakened in the past few weeks as more traders continue taking profits.

“…. as profit-taking intensifies, the alt might be gearing up to shed some (if not all) of its gains in February. A look at ETH’s Aroon Indicator on the daily chart revealed that bullish sentiment has weakened significantly in the past few weeks,” Santiment noted

Notably, the Aroon Up line was spotted at 21.43 percent, and the uptrend momentum tends to weaken as the indicator approaches zero. As such, Ethereum’s price could end up wiping out gains accumulated in January during this month.

Additionally, Santiment has indicated that the demand needed to keep the Ethereum price rallying further has been diminishing in the past few weeks. Nonetheless, the Ethereum developers continue to build DeFi protocols for users to interact with including GameFi.



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ETH Price Is Rising, May Hit $1800 in February: Is Now the Time to Sell Bitcoin for Ethereum?

February 1, 2023 by Felix


Ethereum price has been maintaining a significant strength and consolidating heavily along the interim resistance. The trend currently appears to remain capped below $1650 but also flashes bullish signals that may uplift the rally in the coming days. The price slipped below $1600 after the fresh trend reversal and is failing to reclaim the position at the moment. 

The volume has dropped significantly, which appears to have kept the price compressed. Moreover, the possibility of some bearish divergence is flashing due to which the price could further drop below $1500. This could be the trigger of a massive upswing fueled by the bulls and the whale who may enter at the interim bottoms. 

Trading View

Ethereum price is trading within a falling wedge which is largely considered bullish. The price was expected to face rejection and drop below $1500 as it holds these levels tightly, it indicates the price may revamp with a significant bullish trend soon.

However, the bearish divergence in RSI may be a little concerning which may loosen the grip of the rally. Unless MACD is hovering within the positive range, the possibility of a notable upswing may not be eliminated. 

The ETH price is trading at $1575.29 with a slight jump of 0.23% in the past 24 hours. The trading volume has dropped extensively by more than 23%, while the market cap is advancing towards $193 billion at the moment. The levels at $1650 can be considered pivotal that may determine the direction of the impending rally. 



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Polygon (MATIC) Tops ETH Whale Accumulation List

January 30, 2023 by Felix


After going through a roller coaster ride and getting spinned into the bearish storm last year, the crypto market is now standing strong. Among all the cryptocurrencies, Bitcoin has gained the spotlight in terms of massive gain and leading the crypto bull market. Since the start of 2023, Bitcoin has managed to surge 40%.

At the time of writing, Bitcoin is selling at $23,696 after a surge of 2.11% in the last 24hrs

It’s just not Bitcoin and Ethereum which have gained 40%, even smaller currencies like Solana have flipped nearly 50% upwards. The recovery rally has even pushed the global crypto market cap beyond the $1 trillion mark. One of the main reasons for such a massive jump is the whale activity.

MATIC, SHIB & MANA Tops ETH Whale Accumulation87

According to WhaleStats which tracks the crypto whale activity, the top Ethereum whales have mostly leaned towards buying Shiba Inu (SHIB), Polygon (MATIC), and Decentraland (MANA). Among these, MATIC stands first as it has been accumulated by top 500 ETH whales in the last 24hrs.

One of the reasons that indicates towards top ETH buying most of MATIC tokens is the network’s recent upgrade and hard fork. The upgradation and the hard fork mainly focuses on decreasing gas fee. Further, the Santiment claims that the Whales have managed to purchase 59 million MATIC tokens which is worth nearly $56 million. At the moment, MATIC is changing hands at $1.16 with a jump of 1% over the last 24hrs.

Meanwhile, the reason for whales accumulating Shiba Inu is the upcoming Shibarium Beta launch which is expected on February 14. Currently, Shiba Inu has gained 1.33% and is now trading at $0.00001208. Lastly, Decentraland bags the top 10 purchased tokens among the 100 biggest ETH whales in the last 24hrs. At the time of writing, MANA is trading at $0.7972 as the altcoin has spiked 13.34% over the last 24hrs.

However, this week’s CPI report will be a major influencer to this ongoing crypto rally which will decide further price action.



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Justin Sun Transfers $15.5M ETH to Poloniex, Is It Capitulation Time?

January 26, 2023 by Felix


One of the top Ethereum (ETH) whales, Justin Sun, with approximately 223,780.577 Ethers in one wallet,  has transferred 10k units to his backed crypto exchange, Poloniex. Sun, the Tron Foundation founder and the Permanent Representative of Grenada to the WTO, made the transfer to Poloniex as Ethereum retested $1,610.94 in the past 24 hours. 

The last time Sun made a huge ETH transfer was 44 days ago, after sending 6,500 ethers to Poloniex. Coincidentally, Ethereum price dropped from $1,350 to about $1,151 in the subsequent days.

With Ethereum price forming a falling divergence in relation to the RDI daily indicator, market analysts speculate a looming crypto correction.

Nevertheless, the 10k ether transfer by Sun could be more of a routine derisking strategy as a long-term holder. Additionally, the crypto entrepreneur could be supporting Poloniex with liquidity amid heightened volatility across the board.

Sun Pushes Crypto Adoption Via Tron Network 

The crypto billionaire has used his influence to push for crypto adoption at the state level. Recently, Sun announced that TRON is set to be made a legal tender in St Maarten after a member of parliament initiated a legal framework.

Another milestone for #TRON! St Maarten to adopt TRON as legal tender marks another achievement for our push on worldwide blockchain adoption.https://t.co/HXEnouj0Le

— H.E. Justin Sun🌞🇬🇩🇩🇲🔥₮ (@justinsuntron) January 23, 2023

TRON coin, which trades around $0.061599 today, has a market capitalization of about $5,650,645,170 and 89,107,526 holders, according to data provided by token view. 

Notably, the Tron foundation has partnered with several exchanges including Huobi to introduce crypto to the mainstream market. 

Notably, Sun is a holder of more than 210 tokens, according to on-chain data, which include USDC and others with minimal liquidity on global crypto exchanges.





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Ethereum Price Up For Another 31% Spike, ETH Price At $1700 ?

January 26, 2023 by Felix


The world’s first cryptocurrency, Bitcoin, is hovering between $22,000 and $23,000 level. In the early hours today, the flagship currency did surpass its crucial level of $23K before making a slight downfall. However, the overall crypto market is flashing a positive sign with Ethereum, XRP, BNB, Cardano, Solana and other major altcoins trading green.

At the time of publishing, Bitcoin is selling at $22,992 after a surge of 1.27% over the last 24hrs.

Ethereum Price

Meanwhile, a renowned crypto trader and strategist who is anonymously known as Altcoin Sherpa is forecasting a bullish target for Ethereum, XRP, and Aptos. The analyst addresses his 189,700 Twitter followers saying the second largest cryptocurrency by market cap, Ethereum, is now testing its important support level of $1,5000. Hence, the analyst believes this lead altcoin will see another 31% upward movement and surpass the $2000 area in the coming days.

At the time of writing, Ethereum is valued at $1,606 with an upswing of 3.37% over the last 24hrs.

XRP Price

The next currency that has caught the strategist’s attention is Ripple’s XRP on which he is positive. Recently, XRP was not in a good position as it was underperforming compared to other altcoins. However, now Altcoin Sherpa claims that XRP is all set to make its move towards $0.50 once the altcoin surpasses a resistance of $0.44.

$XRP: This chart looks good. It hasn’t moved much relative to the rest of the market and there’s a lot of consolidation going on.

With that said, there’s not much of a narrative around this. Old shitcoins like this will just start moving randomly. #Ripple #XRP pic.twitter.com/YDWrx3QNx8

— Altcoin Sherpa (@AltcoinSherpa) January 25, 2023

Currently, XRP has gained 0.19% over the last 24hrs and is now trading at $0.4112.

Aptos (APT)

Next, the strategist talks about Aptos which has gained 112% in the last one week. As per Altcoin Sherpa, this Solana competitor will see a bull run towards a high of $23.70 very shortly.

At the moment, Aptos is changing hands at $18.94 after an upwards movement of 39.44% in the span of a day.

Lido (LDO)

Lastly, the analyst winds up his analysis with Lido (LDO) which is an Ethereum staking service. As per Altcoin Sherpa, Lido is about to witness a correction.





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Ethereum (ETH) Price in a Catch-22-What Will Be Its Next Move?

January 24, 2023 by Felix


After undergoing a magnificent bull run since the beginning of the year 2023, the ETH price began to face a significant pullback that appears to be premature to be validated as a rejection. Currently, the ETH price is trading in a tricky situation where-in either of the possibilities emerges where-in the token may be prone to a giant leap or a drastic pullback in the next few hours.

Trading View

The beginning of the year was considered bullish for most of the cryptos including the ETH price which inflated to some extent. The price was trading along the lower trend line which does not appear to be strong enough to withstand the bearish pressure.

Despite a drop in the trading volume, the price drops hard indicating the buying volume is drying up due to which the bears may intensify their actions. Hence a notable drop may kick in if the bulls fail to hold the price at these levels. 

In a bearish case, the ETH price may continue to test the lower support levels and begin by plunging below $1600. A couple of support levels may offer a base to rebound, but the lowest support at around $1520 could be a feasible option. One of the well-known analysts, Micheal van de Poppe also predicts the bounce area for the Ethereum price could be around $1525 as the ETH price is rejecting one of the crucial resistance. 

Besides, the platform is gearing up for the Shangai Hard Fork and the developers have already created a shadow fork of the same. Hence, the bullish momentum is believed to mount significantly in the coming days. 





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ETH Price Takes Charge To Bring Another Upward Rally! Will Ethereum Meet Its Bullish Expectation?

January 24, 2023 by Felix


Ethereum has been giving tough competition to its rival, Bitcoin, as it witnesses an astronomical rise again after a steep decline in November. The ongoing upward rally in the ETH price chart has led investors to bet on an upcoming bull market.

As Ethereum’s price hovers on an upward trajectory after breaking above crucial resistance levels, it creates belief among investors that ETH is preparing to enter a bullish phase ahead. Moreover, several analysts predict that Ethereum may aim for a new all-time high as it becomes a rising star in the crypto market. 

Ethereum’s Investors Eye For A Bull Market

The price trend of Ethereum is on fire as investors continue to invest in this asset heavily despite current bearish sentiments in the market. Ethereum is slowly climbing to the North with the growing interest from institutional investors and adoption in DeFi, promising another round of bullish trends. 

glassnode

Ethereum has gained much attention from whale investors to bring enough liquidity and volume to support its current uptrend. According to on-chain data provider, Glassnode, the number of millionaires in Ethereum continues to surge as addresses holding 1,000 ETH or more made a new high of 6,599 today. Hence, it can be concluded that the ETH price has more room to surge despite Bitcoin’s price flattening. 

glassnode

Additionally, Glassnode noted that Ethereum’s dominance over stablecoins has seen an exponential rise and touched the highest level in three months. As ETH’s price trades above $1,600, its dominance on USDT, USDC, BUSD and DAI has seen significant growth, signifying solid interest from traders. 

ETH Price Soars To New Monthly Highs

Investors are optimistic about Ethereum’s upcoming price goals as it forms higher highs with bulls’ support. Ethereum prints long green candles in the price chart, which leads to speculation that a bullish rally may be on the horizon.

The second largest cryptocurrency by market capitalization is showing no sign of slowing down ahead of the anticipation of the Shanghai upgrade. 

A well-known crypto trader, Jerry Manders, predicts that Ethereum’s price will soon surge over the $2K price level if it gets continuous support from investors. The analyst predicted that Ethereum might smoothly climb to the range of $1,749-$2,049.

However, he forecasts a slight downward correction as ETH price may face resistance at $2K and drops below 23.6% Fib retracement to $1,547. The analyst believes investors such as Ethereum may form an ascending pattern from $1.5K and aim for a high of $2,643 by mid-February. 

However, Ethereum’s further price validation will solely depend on the market’s mood, and traders are eagerly waiting to see if ETH will continue its uptrend or make a fake breakout. 





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Ethereum’s Gas Wars: $39k Transaction Fees Recorded! An Opportunity In Disguise For ‘ETH Killers’?

January 23, 2023 by Felix


On the Ethereum blockchain, gas is the fee required to complete a transaction or carry out a contract. In order to reward miners for their efforts in maintaining and protecting the blockchain, the idea of gas was first developed. Gas fees were introduced as the incentive for staking ETH and taking part in validation once the proof of stake algorithm was launched in September 2022; the more a person has staked, the more they can earn. 

One of the biggest obstacles harming the Ethereum network has been this gas fee. In actuality, it is to blame for the sharp fall in transaction traffic on the Ethereum chain. This is because most Ethereum chain users have avoided the hefty gas fee. It is also the primary obstacle to the scalability of the network. 

Another significant development in this regard has occurred. Let’s analyze the subject further.

ETH Transaction cost $39,050? 

Jason A. Williams, a writer, and enthusiast of bitcoin, recently tweeted a sarcastic statement concerning Ethereum. In this tweet, he mentioned that $39,050 was spent on gas fees for a single transaction. 

This tweet has garnered a lot of attention with several members of the community questioning the legitimacy of the screenshot shared by Jason A. Williams. 

Some people expressed shock at how baffling they found the gas costs and how they had decided against using ETH. Some have compared it with other tokens like MATIC and XRP, where an identical transaction would only cost pennies.

A number of people have accused him of lying or not understanding how things work and have attempted to explain it to him. They indicated that this is common when a transaction is about to revert. One user also mentioned that it could happen if the item you’re attempting to buy or mint has already sold.

Concerns with Ethereum 

The tweet by William highlights how far the Ethereum network still has to go in terms of avoiding gas wars and the possibility of consumers paying exorbitant transaction costs. Prior to The Merge, one of the main worries of Ethereum users was that transaction fees were skyrocketing. Users would frequently pay a considerably higher sum than the actual value of their transaction at the time.

Now, the question that arises is whether the ETH killers will be able to benefit from the news of Ethereum. Every bull market on the cryptocurrency market sees the emergence of Ethereum killers, who nearly always lose more than the crypto they intended to destroy. 



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John Deaton Predicts the Fate of Bitcoin (BTC), Ethereum (ETH) & XRP After 5 Years

January 23, 2023 by Felix


It appears that cryptocurrencies are recovering from a phase of collapse in the industry, which was caused by FTX and Alameda. On significant spot exchange platforms, Bitcoin (BTC) briefly jumped to $23,330 on January 21, 2023, reaching heights not seen since August 19, 2022 and hitting new five-month highs. 

John E Deaton recently tweeted that he believes that Bitcoin (BTC), Ethereum (ETH), and the XRP token will still be standing in five years’ time. Let’s explore the meaning behind this statement.

Future Outlook For BTC, ETH, and XRP 

Blockchain enthusiast and founder of CryptoLaw John Deaton predicts that XRP (XRP), Bitcoin (BTC), and Ethereum (ETH) will all still be standing in five years.

Other than the SEC lawsuit 🆚 #XRP, what has changed since Sygnum recommended #BTC #ETH and #XRP? I still believe all three will be standing 5 years from now. The question is what other tokens will be? @bgarlinghouse said 99% are likely going to zero. What’s standing in 2028? https://t.co/TQFOnwRr26

— John E Deaton (@JohnEDeaton1) January 21, 2023

Returning to a forecast he made in August of last year, John E Deaton referenced research by the Head of Assets at Zurich-based Sygnum Bank that suggested three digital assets of the future: Bitcoin as a store of value, Ethereum for infrastructure, and XRP for payments. Deaton maintains his projection because, except for the ongoing Ripple litigation, nothing has changed for XRP since 2020, when the prediction was made.

XRP Remains Resilient

The SEC filed a lawsuit against Ripple Labs and two of its officials in December 2020, stating that $1.3 billion in XRP sales constituted unregistered securities. The price of XRP plunged significantly to roughly 20 cents shortly after the lawsuit was filed. Despite this, and the subsequent removal from certain exchanges’ lists, XRP has maintained its position as one of the top 10 cryptocurrencies by market capitalization. 

This demonstrates the resilience and the value proposition of XRP, which remains unaffected by external factors. XRP has remained one of the top 10 cryptocurrencies for the past ten years. Since its debut in June 2012, the XRP Ledger platform has been functioning seamlessly. 

Between the close of 2017 and the start of 2018, XRP saw a tremendous rise, surging by thousands of percent and briefly overtaking Ethereum as the second-largest cryptocurrency.

Community Reacts 

The crypto community paid close attention to this prediction made by Deaton. Many of them agree with the prediction, while others agree only partially. Some have even gone so far as to predict that Ethereum (ETH) won’t last very long. Some have additionally contributed to the list Deaton has stated.





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Top Crypto Predictions for January 2023- Bitcoin (BTC) & Ethereum (ETH) May Hit These Levels in the Coming Week!

January 22, 2023 by Felix


Bitcoin price is going up today and the major altcoins have also absorbed a significant bullish momentum. During the past weekend, BTC prices surged by nearly 15%, inciting a strong bullish trend for the rest of the week.

Although the tokens witnessed a minor pullback with some consolidation, the trend continues to remain bullish. Presently, the markets are about to encounter another weekend with the possibility of producing another bullish wave during the upcoming weekend. 

Will Bitcoin (BTC) Price Hit $24,500?

Bitcoin price is failing to surpass $23,000 as the bears are hindering the rally at $22,900. The past few hours witnessed significant selling pressure accumulated that was observed a couple of days ago that slashed the price by 5% then.

Moving ahead, the bears were exhausted to some extent which helped the bulls to uplift the price beyond the crucial resistance at $21,410. Further, the prices exploded and marked highs beyond $22,500 for the first time in the past 4 months. 

Trading View

The BTC price after rebounding from $20,500, sliced through the crucial resistance levels at $21,500 and soared beyond $22,500 marking new highs for 2023. Now the bulls appear to be perplexed as the assets are being impacted with minor bearish pressure. However, the upcoming weekend may witness a breakout after experiencing excessive price compression. 

A breakout may lead the price to rise beyond $24,000 while in case of rejection, the price may test the lower support at $22,500. If failed to sustain at these levels then a drop to $20,550 may be imminent. 

Ethereum (ETH) Price Poised to Hit $1700 this Weekend

After facing a rejection of $1780, Ethereum’s price dropped heavily to mark the bottom just above $1000. However, since the start of 2023, the price maintained a significant upswing and rose above $1650. Presently, the second-largest crypto is facing notable bearish pressure which may be overcome during the upcoming weekend. 

Trading View

The ETH price is currently trading close to one of the important resistance levels at $1657 and facing bearish actions. In case of extended bearish pressure, the price may drop toward the lower support at $1596 and ignite a rebound. However, the next price zone to cross could be between $1750 to $1770 which may clear the path toward $1800.



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Bitzlato Scandal Triggers $100 Million Liquidation, Bitcoin (BTC) & Ethereum (ETH) Prices Plunge

January 19, 2023 by Felix


After experiencing a surge that began at the beginning of this year, Bitcoin and Ethereum have seen a significant plummet in the past 24 hours. Long traders have lost a total of $100 million worth of assets due to liquidations. 

The cause of this decline can be attributed to the allegations of money laundering made against Bitzlato, a relatively unknown cryptocurrency exchange. This news was sufficient to trigger the sharp drop in value. 

Specifically, the price of Bitcoin fell from a four-month high of around $21,550 to roughly $20,700, while the price of Ethereum dropped from $1,700 to $1,500.

According to recent allegations, Bitzlato, a Hong Kong-based cryptocurrency exchange, is accused of illegally transferring a total of $700 million in both direct and indirect transactions over the course of several years. 

The United States Department of Justice has accused Bitzlato of marketing itself to criminals as a cryptocurrency exchange that did not require any identification or verification, which subsequently led to deposits totaling hundreds of millions of dollars. As a result, the plaintiff is now responsible for the damages caused by the negative impact that Bitzlato’s actions had on the cryptocurrency market.

Statistics provided by CoinGlass indicate that more than $106 million worth of futures bets that gambled on the growth of Bitcoin and Ethereum were liquidated in the last 24 hours, representing over 76% of all futures trades. 

It is also alleged in the lawsuit that Bitzlato facilitated the laundering of illegally obtained cash by requiring minimal identification from its customers and that over $4.5 billion in cryptocurrency transactions had been conducted by the exchange since 2018.

As of this writing, Bitcoin is valued at $20,783 (down 2.3% in the last 24 hours), whereas Ether is at $1,527 (down 3.4% in the last 24 hours).



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How ETH Could perform in 2023!

January 19, 2023 by Felix


Ethereum continues to hold its crown as the largest altcoin. The digital asset continues to remain in the talks of the crypto market, despite the lukewarm response to the merger. While critics have been vocal about ETH’s short term price projections. Maximalists continue to back the largest altcoin. Ethereum has the largest market capitalization following the leader of all time The Bitcoin.

Will Ethereum emerge to stride to new highs anytime sooner? Or will ETH lose its crown to other potential cryptocurrencies such as polkadot’s price? The upcoming update on Ethereum Shanghai Hard Fork which is scheduled for 2023 may surge the price of the coin to greater heights. This write-up will get all your queries sorted! Buckle up as we decode realistic Ethereum price prediction 2023 – 2025 and the years to come!

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After Bitcoin Ethereum has the highest value in todays market. It has always been on the watch list of every crypto head and investors. Bitcoin price prediction and Ethereum Price prediction has always been a concern as it plays a major role in this industry.

Overview

Cryptocurrency Ethereum
Token ETH
Price $ 1,527.4800
Market cap $ 0.0000
Circulating Supply 0.0000
Trading Volume  $ 0.0000
All-time high $ 0.0000 Jan 1, 1970
All-time low $ 0.0000 Jan 1, 1970

Ethereum (ETH) Price Prediction 2023 – 2030

Ethereum price prediction

Eth is considered to be the largest alt coin of all time. In Ethereum market transaction are made in worth Billions each day and the demand is only increasing. Will Ethereum go up?

Market conditions are very volatile as of now. It’s mission is to make a world a better place for all living beings and is progressing on it day after day. Ethereum price prediction for 2023 could range from $1522.72 to $1866.79 for the year.

ETH Coin Price Prediction 2023

Ethereum developers recently concluded a meeting where they discussed on potential Ethereum Improvement Proposals into the Ethereum Shanghai Upgrade. Ethereum Shanghai Fork Upgrade is set to introduce a bunch of critical updates and changes to Ethereum in the blockchain’s EVM functionalities. Prior to the actual release.

The Ethereum Foundation released a pre-Shanghai testnet on 14 October, this year. The testnet is known as Shandong which will be used to test and finalize the Ethereum Improvement. That are expected to be rolled out in the actual Shanghai Update during the release.

If ETH finds steady rise in traders and investors, we can expect Ethereum price prediction 2023 to initiate on a bullish note. Which could drive in more alliances, adoptions, and investors. Wherefore, the price of ETH could end the trade for 2023 at $1866.79. 

However, on a bearish note, the altcoin could end its trade for the year at $1522.72. That said, constrained by linear momentum, the average price might find its base at $1674.91. 

Price Prediction Potential Low ($) Average Price ($) Potential High ($)
2023 1522.72 1674.91 1866.79

Ethereum (ETH) Price Prediction 2024

ETH is dependent on POS, which is secured by hundreds of miners and database. Ethereum switched to a proof-of-stake mechanism in 2022 because it was more safe and secured. Whereas, Solana relies on POH, which involves a certain number of sequential computational steps that decide the time gap between two events and give the transactions a time lapse.

With the Solana network more secure, faster and cheaper when compared to Ethereum, Solana price has a potential to overtake Ethereum in the coming days as more number of people have started to adopt this over ETH.

The growing prominence of Ethereum could invite global recognition and roll out of ETFs and spot ETFs. This could welcome a wider audience, who could push the price to greater heights. Materializing which, this altcoin’s price could head towards its potential high of $2939.04 by the end of 2024. 

On the other hand, if the bears out run the bulls, the price might slump to a minimum of $2411.36. Successively, an equilibrium in buying and selling pressures could land the price at $2595.99. 

Price Prediction Potential Low ($) Average Price ($) Potential High ($)
2024 2411.36 2595.99 2939.04

Ethereum Price Prediction 2025

If the Ethereum ecosystem focuses on boosting its ventures, concentrate on new projects, developments, and partnerships to enhance the network. With newer updates related to Ethereum 2.0 like abandoning the PoW. Moreover, if scalability is up to the mark, and ETH 2.0 becomes user-friendly, over the years. ETH Price is anticipated to hit its maximum of $4616.77.

However, in case of a possible crash due to any possible regulations, uncertainty may cause the altcoin to fall to $3796.66. That said, considering the bullish and bearish targets, the average price might settle at $3966.59.

Price Prediction Potential Low ($) Average Price ($) Potential High ($)
2025 3796.66 3966.59 4616.77

Ethereum Price Prediction 2026 – 2030

Price Prediction Potential Low ($) Average Price ($) Potential High ($)
2026 5,566.77 5,713.12 6,610.75
2027 6,800.10 7,246.74 8,705.44
2028 12,613.01 14,482.48 16,410.87
2029 16,192.00 19,010.77 21,994.32
2030 20,647.23 23,563.01 26,575.21

CoinPedia’s Ethereum Price Prediction

Factors like successful transition to PoS and growing outreach could incline stars in favour of the protocol. With a boost to the sentimental belief of investors and traders. The price prediction of ETH could propel to $1866.79 by the end of 2023.

On the downside, increasing FUD amongst investors and lack of updates could curb the price to bottoms at $1522.72. 

Market Analysis

Firm Name 2023 2024 2025
Wallet Investor $2336.717 $3081.915 $3818.209
DigitalCoinPrice $2,606.17 $3,394.46 $4,191.24
Gov.Capital $4063.963 $7127.871 $10222.73

*The aforementioned targets are the average targets set by the respective firms.

What Is Ethereum (ETH)?

Ethereum is a decentralized open-source blockchain underlining smart contract functionality. Ether is the native cryptocurrency created by Ethereum miners as a dividend for calculations conducted to protect the blockchain.

The network started to function on 30 July 2015. As of then 72 million coins were minted. This reports for about 65% of the total circulating supply in April 2020. The protocol works on the PoW consensus mechanism and will be transitioning to the PoS mechanism. This is expected to happen sometime by mid of 2022.

Ethereum was the very first programmable blockchain in the world. It is a decentralized application platform that runs on a worldwide, open-source platform. Ethereum was introduced in a white paper in late 2013 by Vitalik Buterin, a programmer and co-founder of Bitcoin Magazine. The technology is home to electronic money, applications, and global payments. Users can develop codes on the Ethereum blockchain, that can manage digital currency. And is accessible from anywhere in the world that allows users to send crypto to anyone for a nominal charge. The network also has its own native token for trading – ‘ETHER’, which powers the open-source programme. 
 
Since Ethereum is programmable, it can construct a wide range of digital assets. Moreover, it supports the development of smart contracts. Successively, It’s a financing service, gaming, and software store that won’t steal or manipulate one’s personal information. Talking about its working, it runs on a system called the Ethereum Virtual Machine (EVM). It currently employs the Proof-of-Work (PoW) consensus mechanism. And will be transiting to Proof-of-Stake post completion of its merger to ETH 2.0. The initiative will counter the limitations such as gas fees, speed, and scalability. This will further invite a myriad of projects. 

Historical Ethereum Price Sentiments 2016 – 2022

  • ETH began rising in January and reached a price peak at $15 in March 2016.
  • For Ethereum, 2017 was a bullish year as in the first two months. The Metropolis Fork launch pushed the price higher which happened in June, with the coin touching $400.
  • Except for one brief spike back up to $816, ETH’s price declined all throughout 2018.
  • In April 2019, the first upward trend began, Ethereum began to rise rapidly and hit $300 in June 2019 after the launch of Ether Zero Fork.
  • Ethereum commenced its trade for 2020 with a trading price of $143.85. ETH rose to $268.07 by February 2020 but declined to $117.48 by mid of March amidst the outbreak of Covid-19.
  • It soared to a record high of $4,380 on the 12th of May 2021. However, a crash on the 19th of May left the price at $1,782.52.
  • On the 5th of September 2021 when the price skyrocketed by 70% to $4,000 after the announcement of Altair. Further, the price hit a new ATH of $4,637.59.
  • The year 2022 started with a bearish trend. Following the Terra LUNA price crash, the entire crypto market crashed.
  • On September 15, 2022, after years of development, Ethereum’s developers completed the Ethereum Merge which led to increase in price further more.
  • FTX – CZ clash created another chaos in the market during Q4, reducing the market valuation including the ETH price

FAQs

What is Ethereum 2.0?

Ethereum 2.0 is an updated version of the existing Ethereum blockchain, which aims to increase the efficiency, scalability, and speed of the Ethereum network.

What is the advantage of Shanghai Hard Fork?

This upgrade will allow Beacon Chain staked ether (stETH) withdrawals.

What is gas and what it does do?

Gas is the small type of work processed on the Ethereum network.  Gas measures the amount of work to be done by miners in order to include transactions in Block.

What will the maximum price of ETH be by the end of 2023?

The price of ETH might surge to a maximum of $1866.29 by the end of 2023.

When is the upcoming Ethereum’s Shanghai Hard Fork scheduled?

Ethereum Shanghai Upgrade scheduled for the first half of 2023.

How high will the ETH price rise by the end of 2030?

According to our Ethereum price prediction. The largest altcoin’s price could propel to a maximum of $4616.77 by the end of 2025. ETH is expected to cross the $26,000 mark with a potential high of $26,575.21 by the end of 2030.

Will Ethereum hold onto its tag of the largest altcoin, in the emergence of newer protocols?

With its dominance in DeFis, NFTs, and widespread prominence Ethereum will continue to hold the crown of the largest altcoin. With the merger with ETH 2.0, Ethereum’s hold would further grow stronger.

Will Ethereum find more NFTs, DeFis and other projects employing its network with ETH 2.0?

Yes, the Ethereum network will eventually welcome more projects to be built on its chain, following its merger. As it will also receive a host of improvements that will fundamentally strengthen the chain. 

How much is 1 Ethereum worth?

During the time of publishing, the price of 1 ETH was $1,528.21.



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Massive ETH Dump After Shanghai Upgrade?

January 17, 2023 by Felix


The world’s second largest cryptocurrency, Ethereum has performed exceptionally well since December 2022. Also the bulls are holding up well with the lead altcoin from the time when Ethereum has surpassed the 50 and 100-day moving average. Ethereum had even stepped into short-term consolidation moving towards $1.6K level before making a pull back.

At the time of writing, Ethereum is changing hands at $1,576 after a surge of 1.13% over the last 24hrs.

Meanwhile, Ethereum’s Shanghai upgrade is one of the most awaited upgrades in the crypto space. Before the announcement of this upgrade, On Sept 15, 2022, the network had a merge where it switched from proof-of-work to proof-of-stake. During this time, there was a condition that a minimum of 32 ETH had to be staked and cannot be withdrawn until the next upgrade.

Ethereum Shanghai To Allow Withdrawal Of Staked ETH

Now, with the Shanghai hard fork which is scheduled for March 2023, those staked Ethereums can be withdrawn. However, as per the reports, the upgrade is expected to push investors towards dumping those withdrawn ETH. If that happens, there will be a huge sell off witnessed.

On the contrary, it all depends on the number of validators moving out at a particular time. Also if a validator decides to move out, he must undergo two stages such as exit que and the withdrawal period. Hence, there are very less chances that Ethereum price will face a dump.

Moreover, the exact situation can be known only once the hard fork is launched and withdrawal is live. This suggests that investors and traders will have to wait until the time arrives and move ahead very cautiously



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Are Ethereum (ETH) Bulls Exhausted for Rallying Beyond $1,600?

January 17, 2023 by Felix


With over  52,606,127 holders, Ethereum’s (ETH) price has rallied over 28 percent in the last 14 days to trade around $1,568.46 on Tuesday. The second largest digital asset by market capitalization is likely entering the early stages of multi-week consolidation before the onset of the next bull market. Furthermore, Ethereum price has fully recuperated from the FTX and Alameda implosion

After briefly breaking out of the 2022 bear market in mid-October, Eth’s price has rebounded and converted the resistance trend line to a support level. The theory is also reiterated by the 200W MA and last week’s closing candle that indicates bulls are in control.

Having traded in a perfect wedge since hitting lows in June last year, the weekly bar close in the next few months will significantly influence the next trend in the Ethereum market.

The ETH bull case scenario is also supported by the RSI indicator that shows rising divergence over a lengthy consolidation period. A further rally beyond the current levels could completely invalidate the 2022 bear market.

The undisputed king of blockchain smart contracts continues to attract institutional investors and developers seeking to build scalable and secure Web3 projects. This is evident by the high transaction count of over 1,843,304,923, according to on-chain data provided by tokenview. Additionally, over 15,990,446 ETH have been staked by about 499,701 network validators.

Furthermore, the Ethereum ecosystem takes pride in over $46.99 billion locked-in Defi platforms. However, the figure is bound to decline significantly after the Shanghai upgrade which will allow withdrawals of staked Ethers on the beacon chain. 



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Litecoin Halving Looms and Dogecoin Creator Sells ETH at $1,190, while Snowfall Protocol (SNW) Emerges as the Big Winner

January 17, 2023 by Felix


The crypto market is experiencing a lot of movement lately, with the halving of Litecoin (LTC) looming and Dogecoin (DOGE) creator, Billy Markus, selling a significant amount of Ethereum (ETH) at $1,190. While these events may seem negative, there is a new player in the game that is emerging as a winner: Snowfall Protocol (SNW).

In this article, we will take a closer look at the upcoming halving of Litecoin (LTC), the decision of Dogecoin’s (DOGE) creator to sell Ethereum, and the potential of Snowfall Protocol (SNW) as a winning investment opportunity.

Litecoin (LTC) halving concerns mount as block reward set to be cut in half

The halving of Litecoin (LTC) is set to happen in 202 days, and it is causing a great deal of concern among investors. The halving will cut the block reward in half, from 12.5 LTC to 6.25 LTC. This will likely have a negative impact on the value of Litecoin (LTC), as there will be less incentive for miners to continue to support the network. This in turn could lead to a drop in the value of Litecoin (LTC), which would be bad news for investors who are holding the coin. Currently, Litecoin (LTC) is trading at $84.82.

Dogecoin (DOGE) creator’s Ethereum sale sparks concern among Investors

The recent decision of Dogecoin (DOGE) creator, Billy Markus, to sell a large amount of Ethereum at $1,190 has also caused some concern among investors. Markus stated that he had to sell the Ethereum to pay taxes he owed for last year. While this may seem like a smart financial move, it can also be interpreted as a lack of confidence in the future value of Ethereum. Dogecoin’s (DOGE) value has seen a significant increase in the past week, with a growth of 11.57%. Dogecoin (DOGE) has also experienced a boost of 1.83% in the last 24 hours, bringing the current price to $0.080 per Dogecoin (DOGE). Despite this recent surge, Dogecoin (DOGE) is still 89.14% below its all-time high of $0.74.

Snowfall Protocol (SNW) poised for big gains in the crypto market

Despite the negative news surrounding Litecoin (LTC) and Dogecoin (DOGE), there is a new player in the crypto arena that is making a big splash. Snowfall Protocol (SNW) is a unique cryptocurrency making waves due to its unique approach to the industry. Users can participate in, and gain from, any blockchain of their choice through the help of Snowfall Protocol (SNW).

Additionally, users will be able to transfer money across chains whether they are EVM compatible or not, with the help of Snowfall Protocol (SNW) and its decentralized apps (dApps).  It is now in Phase 4 of its presale and is available for purchase at $0.182. Given the tremendous earnings and benefits that investors stand to get in the future, many cryptocurrency experts agree that the Snowfall Protocol (SNW) current value is an absolute steal. The price of Snowfall Protocol (SNW) is expected to increase by more than 5000% over the following few days, and this is only the beginning as the token will undoubtedly fly to new heights in the near future.

Conclusion

In conclusion, while the halving of Litecoin (LTC) and the decision of Dogecoin’s (DOGE) creator to sell Ethereum may have negative impacts on the value of those tokens, Snowfall Protocol (SNW) is emerging as a winner. The unique approach and interoperability architecture of Snowfall Protocol (SNW) make it a highly attractive investment opportunity for those looking to gain from the crypto market.

Get in while you can and invest in Snowfall Protocol (SNW) today!!!

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Disclaimer: This is a press release post. Coinpedia does not endorse or is responsible for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company.





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Fox’s Charles Gasparino Sparks Controversy, Claims XRP Community “Hates” ETH

January 17, 2023 by Felix


There appears to be a subtle ongoing competition between XRP and ETH, according to Gasparino’s recent tweet, in which he stated that he finds it absurd that the XRP community despises everything related to Ethereum. 

Charles Gasparino is a journalist, author, and commentator who has covered Wall Street and financial markets for over two decades. He is currently a senior correspondent for Fox Business Network and a frequent commentator on financial news programs. His recent comment has sparked controversy in the crypto space. Let’s see why. 

Gasparino’s Comment Garners Attention 

According to Charles Gasparino, the XRP community hates anything connected to Ethereum. The journalist who tweeted about this yesterday called the notion of hostility absurd because everyone he knows who is connected to Ethereum wants Ripple to win the case against the US Securities and Exchange Commission.

Absurdity of the #XRPCommunity hatred for all things and people associated w @ethereum can be found in the fact that every person I know associated w #ETH wants @Ripple to prevail over the @SECGov because what it will mean for crypto regulation and probably the #ETH coin

— Charles Gasparino (@CGasparino) January 15, 2023

This is the second time in recent months that the journalist has defended Ethereum by seeming to attack XRP. Less than two weeks ago, the FOX Business correspondent debunked allegations that Bill Hinman, a former director of the Securities and Exchange Commission, had a conflict of interest prior to making the contentious statement that Ethereum is not a security in his 2018 address. He claimed that by continuing to promote this narrative, the XRP community is behaving like conspiracy theorists and little children.

XRP Community reacts 

The XRP community has responded in a frenzy to Gasparino’s remarks. Gasparino’s assertion that the whole XRP community despises everything associated with Ethereum was disputed by Crypto Eri, a well-known XRP influencer, who pointed out that some XRP community members also possess ETH. Instead, the influencer claimed that people in the community are angry because of the SEC and some Ethereum founders’ conduct. She also claimed that Gasparino appears to be under influence.

Hi Charles. As a journalist I imagine you understand any community is of very diverse opinions. In addition, I think you’re confusing the digital asset ETH itself with actions by “some” of its founders as well as the despicable SEC behavior. I’d place a bet on someone has your 👂

— ☀🌸Crypto Eri 219k Followers (beware of imposters) (@sentosumosaba) January 16, 2023

Mr. Huber questioned the journalist’s research skills, presenting texts and clips from many times when Ethereum founders defended the SEC case against Ripple.

Some have thrown jabs in response to Gasparino, at the Ethereum network’s shortcomings. Specifically pointing out the gas it takes to run it. 

The XRP price is $0.39, with a total market capitalization of $38,531,265,865.03 and Ethereum price today is $1,544.69 USD with a market capitalization of $189,029,128,931 USD. 





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Shiba Inu Becomes ETH Whales Top Holding, As Devs Get Ready to Launch Shibarium Beta

January 16, 2023 by Felix


The developers of the meme currency Shiba Inu (SHIB) have published an update on their website to provide the community with information on the forthcoming beta release of Shibarium, which is a layer-2 network that will operate on top of the Ethereum mainnet.

While this was taking place, evidence showed that Ethereum (ETH) whales were purchasing an increasing amount of SHIB in preparation for the launch. According to the information provided by WhaleAlert, the top 100 ETH whales’ combined holdings of Shiba Inu Coin now total more USD than any other cryptocurrency. To reclaim the lead, SHIB used a flip of the Staked Ethereum token, abbreviated as stETH.

In addition, the price of SHIB has climbed by 5% in the last day, and it has increased by 21.5% in the last week, making it one of the cryptos in the top 20 cryptocurrencies to perform the best in the past week.

The developers of Shibarium emphasized that the Shibarium project is being built in order to give a platform that will enable the community to construct and expand the project and realize the founder’s goal.

The developers have said that the intention was not to enhance the price of the meme currency, despite the fact that some people feel that developing Shibarium is a means to do so.

The addition of a burning mechanism for SHIB, which is one of the most often requested improvements for the project, is one of the most important updates included in the latest announcement.

The developers state that every transaction that takes place on the network will necessarily involve some number of SHIB tokens being burned. Every time a transaction is carried out inside the network, this process will be activated.

Though they did not provide a release date, the developers assured us that we will be hearing from them very soon with the answers to all of our pressing queries about when the beta would be available, so let’s wait and see.



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Traders Are Betting On ETH With Ethereum’s Next Big Milestone Ahead

January 13, 2023 by Felix


The Merge, which began on the alternative cryptocurrency network in September 2022, was the most notable update to the Ethereum (ETH) network. The goal of this ETH hard fork was to implement the proof-of-stake (PoS) consensus mechanism. All of us are eagerly anticipating the next update, Shanghai hard fork.

Traders have very high hopes for the update, which is scheduled for 2023. Staking cryptocurrency units on the Beacon Chain will be unlocked and made available for trade as part of the upgrade, which should increase Ethereum’s market liquidity. But what market prospects exist ahead of the main update?

What Traders Are Saying?

In a conversation with CoinDesk, many prominent cryptocurrency traders and experts revealed their essential ideas and forecasts on the market effect of the Shanghai upgrade.

Thomas Kralow, a cryptocurrency trader, believes that the Ethereum price may drop temporarily before and after the upgrade because daily liquidity will not be sufficient to absorb the influx of unstaked ether. The trader forecasts that the anticipated price decline wouldn’t amount to more than 15%-20% and that ETH should rebound fast.

Chief investment officer of digital-asset management company Arca, Jeff Dorman, has said that ETH is, in effect, a cryptocurrency index at this point. When asked whether he was concerned about a sell-off after the update released staked ETH, he said he wasn’t.

There may be pent-up demand from those who have been without liquidity for the last six months or so, but Dorman predicts that this will be more than offset by the influx of new speculators who didn’t bet the first time around due to a lack of available funds.

Umee’s CEO and co-founder Brent Xu anticipated some selling pressure after the Shanghai upgrade. He went on to say that this is a balancing act between the maturity of the proof-of-stake protocol and the degree to which its users are comfortable with and confident in its decentralization and transparency.

Bottomline

Time will tell how the Shanghai hard fork affects Ethereum’s price. Even while it is generally agreed that when tokens are released, investors will sell their cryptocurrency, this may not really occur.

Because of the high staking incentives for ether, some people may choose to keep their cryptocurrency locked in order to contribute to network validation while still earning a passive income.

When networks are updated, alternative cryptocurrencies often benefit. The move to proof of stake by ETH demonstrated this. However, if Shanghai fails to offer results that are in line with what the market is anticipating, a fall in ETH capitalization could be witnessed. But again, only time can tell.



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$20M Worth ETH Transferred To Binance, ETH Price Drop Ahead ?

January 11, 2023 by Felix


Even though the year 2022 has been a roller coaster ride, the start of 2023 has been pretty much on a positive note as the crypto market seems to be recovering. The star cryptocurrency, Bitcoin which was struggling to even move beyond $15,000, has now successfully captured $17.5 levels. This has resulted in a bullish market.

However, as Ethereum bulls are making a gradual move one of the ETH whales has pulled out 15,500 Ethereum (ETH) which is worth nearly $20 million. This withdrawal has been made from various liquidity pools and this $20 million was then moved to Binance exchange. This was confirmed by Lookonchain, a on-chain analytic firm via Twitter post where the firm claimed that the whale has withdrawn the said amount from Convex, Lido, Curve and Balancer liquidity pools.

Ethereum Witness Decreasing Trade Volume

The firm also stated that in September 2022, the whale had 30,000 ETH and now after the withdrawal, the whale is worth just $19.58. Furthermore, over the last 10 days the whale has sent nearly 20,000 ETH to Binance. Hence, the crypto space believes that Ethereum price is about to plunge.

Meanwhile, it’s been observed that Ethereum price trade is not that productive when compared to that of Bitcoin’s. In the last 24hrs, Bitcoin has gained $0.85 while Ethereum has managed to rise only 0.02%. Also Ethereum’s trading volume has plummeted 12% over the last 24hrs which suggests that ETH is losing interest.

At the time of publication, Ethereum price is selling at $1,331 after a surge of 0.02% in the last one day. The lead altcoin should hold on its trade above $1,300 to see its next climb of $1,400 and then $1,500.



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What To Expect From Ethereum’s Shangai Upgrade? How Will It Impact the ETH Price

January 10, 2023 by Felix


The Ethereum ecosystem is working on upgrades to improve scalability, security, and sustainability. Last year, it successfully transitioned to the proof-of-stake (PoS) consensus mechanism through the Merge event. Now, it is preparing for the next major updates through the Shanghai Upgrade, which will include the highly anticipated feature that allows the withdrawal of staked Ethers.

The Ethereum network has become a well-known smart contract ecosystem, but it faces competition from other blockchain networks like Solana (SOL) and Cardano (ADA) which are sometimes referred to as “Eth killers.” 

To prevent top DeFi projects from migrating to these competitor chains, Ethereum’s developers are introducing critical upgrades. About a year ago, Eth developer Tim Beiko listed potential items to be included in the Shanghai Upgrade. While the list includes about 12 items, Beiko noted that only a few will make it to the final list.

Ethereum Market Outlook Post Shanghai Upgrade 

The Ethereum network has the largest decentralized financial (DeFi) market in the crypto industry, with a total value locked (TVL) of approximately $23.78 billion, according to DeFi aggregate data from Defillama. In comparison, the TVL in the entire crypto market is around $39.76 billion, making Ethereum the dominant player in DeFi.

However, it is expected that a significant amount of these locked Ethers will be liquidated after the Shanghai upgrade in March of this year, leading to a drop in the TVL in the Ethereum ecosystem. Additionally, other proof-of-stake chains offer higher annual percentage rates (APRs) than Ethereum, which has an average APR of 4.9% with 15,845,519 Ethers staked by 495,172 validators.

The Shanghai upgrade, like the Merge event before it, is not likely to have a major impact on the price of Ethereum (ETH). However, global regulators are closely monitoring the crypto market following the collapse of FTX and Alameda, which may affect investor confidence. It is possible that the Ethereum market will return to pre-FTX levels as confidence recovers.

Exciting thoughts on the potential for an upgrade in Shanghai to boost the bullish trend for #ETH. Who knows, maybe we’ll even see it reach 1.6K! Good morning, fam!

— Elite Crypto (@TheEliteCrypto) January 6, 2023





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Ethereum To Lead The Bull Market in 2023 : ETH Price To Outperform Bitcoin

January 10, 2023 by Felix


Ethereum’s price, along with that of several other cryptocurrencies, saw an increase to start the week. The leading alternative cryptocurrency has broken beyond the $1,300 threshold for the first time in a considerable amount of time. 

At the time of this writing, one token is worth $1,325, which represents an increase of 1.9% over the course of the previous twenty-four hours and 3.8% over the course of the previous week. Many people believe that this will be the beginning of an extended bull run.

Analyst Thinks Ether Will Lead Bull Run This Year

Jiang Zhouer, a miner from China and the CEO/co-founder of Bitcoin (BTC) mining service B.TOP, predicts that the long-term consolidation of ETH, which began in June 2022 and has continued since then, will soon come to an end. 

He went on to say that this narrowing of the range will come to an end between the months of March and May in 2023, after which the price of Ethereum will finally exit this region and begin a bull run.

He said that Ether would be the primary driver of the subsequent wave of bull market activity and that it would get a head start on Bitcoin’s price appreciation. The miner expects that the price of ETH will start to increase between two and four months later (that is, between March and May 2023), at which point it will definitely break away from the present Bottom range.

In his word:

“Looking at the data of Ethereum, the inflation rate was 3.59% when ETH was in Proof-of-Work (POW). Bitcoin’s inflation rate is 1.72%.”

Moreover, since macro signs are becoming favorable for risk markets in the medium term, Ethereum options traders have become more optimistic about the possibility of a price rise in the first three months of 2023.

According to the data shown by Glassnode, the bulk of the open interest in Ethereum contracts that will expire on March 31 is bullish, and the majority of the strike targets will fall somewhere within the area of $3,500 to $4,000.

Source: Glassnode

Only time will tell whether the recent surge in the price of Ether is going to be sustainable or if this is yet another incidence of a bull trap.



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Orbeon Protocol (ORBN) Thrives in Presale While Ethereum (ETH) and Polkadot (DOT) Price Up

January 9, 2023 by Felix


Orbeon Protocol (ORBN) continues to thrive in presale with an expected ROI of 6000%, according to market analysts. 

Meanwhile, Ethereum (ETH) and Polkadot (DOT) are seeing price surges while they recover from the 2022 crypto winter and the effects of the FTX crash. 

If you didn’t take advantage of the 2021 bull run of Ethereum and Polkadot, you can still make good returns with Orbeon Protocol (ORBN). It is currently in phase 3 of its presale. 

Orbeon Protocol (ORBN)

Orbeon Protocol is a new blockchain investment platform that brings together startups looking to raise capital and retail investors of all sizes. 

Prior to Orbeon Protocol, the crowdfunding industry was only available to large venture capitalists. However, thanks to Orbeon’s NFTs-as-a-service (NFTaas) anyone can invest in a startup company for as little as $1. 

The new Orbeon Protocol (ORBN) approach to the venture capital industry means that startups have better access to a wider pool of retail investors and the ability to engage with their communities on a web 3 platform. 

There are many investors in the crypto community to help a new company reach its funding goals faster and cheaply. 

The platform also offers security and transparency in every stage of the process. Each smart contract comes with a “Fill or Kill” feature that will automatically refund each investor’s funds if the business fails to meet its funding target. 

The platform is powered by the ORBN token. The token has a total supply of 888,000,000 of which 40% is currently available in the public presale. 

At present, more than 71,040,000 ORBN tokens have already been sold. Experts predict the presale will sell out in January and the price of ORBN rise by 6000%. Orbeon Protocol is definitely set to surge more in 2023. 

Polkadot (DOT)

Polkadot (DOT) is another promising project to keep your eyes on in 2023. Polkadot is a blockchain platform where users can make fast and easy transactions without a 3rd party. 

Polkadot makes cross-chain transfers between different blockchains possible. Developers can also build decentralized applications on Polkadot and enjoy the benefits of blockchain interoperability. 

The native token of the Polkadot platform, DOT, has seen some ups and downs in the last year but industry experts agree that Polkadot will bounce back from its current low in 2023. 

Ethereum (ETH)

Judging by the small returns seen in December, Ethereum is set to bounce back in 2023. Ethereum (ETH) is the second-largest cryptocurrency next to Bitcoin. 

Ethereum is also used to make crypto transactions, build dApps, trade NFTs, and hold digital assets on a fully decentralized platform. Ethereum’s practical utility has made it quite popular among dApps developers, NFT traders, and investors. 

The Ethereum (ETH) platform has been quite successful thanks to its early adoption of smart contracts. Although Ethereum’s price is still down from its all-time high, it has increased in value in the last few weeks and is expected to rally although not as high as Orbeon Protocol. 

Disclaimer: This is a press release post. Coinpedia does not endorse or is responsible for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company.



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Bitcoin and Ethereum’s Q1 Open Interest Indicate Bullish Sentiments – Where BTC & ETH Price Heading Next?

January 9, 2023 by Felix


The crypto market opened the second week of 2023 with a bullish sentiment after Bitcoin prices comfortably surged above $17k on Sunday. Additionally, Ethereum’s (ETH) price has surged 3.6 percent in the past 24 hours to exchange around $1,308, during the early London trading session on Monday. As such, the total crypto market volume is about $33.38 billion, up approximately 101.82 percent, over the last 24 hours.

Notably, the Bitcoin and Ethereum futures contract market has significantly contributed to the recent rebound from FTX lows. Bitcoin’s open interest – the number of options or futures contracts held by traders and investors in active positions – has indicated potential price gain in the coming months. 

Furthermore, crypto open interest significantly indicates the level of liquidity in the industry, particularly from institutional investors.

Worth noting, the overall confidence in the digital asset market has rebounded in 2023 with increased government scrutiny following the FTX and Alameda saga. Moreover, smart contract chains like Solana and Cardano have recorded a double-digit gain in the past 24 hours.

Closer Look at Bitcoin and Ethereum’s Open Interest 

The cryptocurrency’s open interest is a key indicator of whale trading, which significantly affects the underlying value of a digital asset. According to data provided by Coinglass, the total Bitcoin futures open interest is approximately $9.38 billion. Top exchanges that support Bitcoin open futures interest include Binance, OKX, ByBit, Bitget, and CME with $2.61B, $1.69B, $1.53B, $1.39B, and $1.2B respectively in the past 24 hours.

The Ethereum futures open interest, on the other hand, totals approximately $6.62 billion in the past 24 hours. The top exchanges with Ethereum open futures market include Binance, OKX, and ByBit with $2.26B, $1.07B, and $1.01 billion respectively.

According to aggregate data provided by Glassnode, Bitcoin’s open interest for the first quarter of 2023 indicates more calls than puts. Notably, calls and puts in the options open interest refer to the buying and selling of underlying assets respectively. 

Glassnode data, as shown below, indicates that Bitcoin traders are optimistic about a more price rebound in Q1. Moreover, more Bitcoin calls’ open interest is concentrated between $19k and $23k. Nonetheless, a significant amount of traders believe Bitcoin could drop to $15k once more before rebounding in Q1.

Glassnode

Notably, a similar scenario has been reported on the Ethereum options open interest during the first quarter of 2023. Interestingly, while a few ETH open interests are for $1,600 by the end of Q1, the majority of liquidity is concentrated between $3,500 and $6,000.

Glassnode

As such, Bitcoin and Ethereum prices have a high chance of closing the first quarter above the 200 moving average on both daily and weekly charts.



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What’s Next For Bitcoin (BTC) & Ethereum (ETH) Prices in the Coming Week?

January 8, 2023 by Felix


Bitcoin Price

Bitcoin price has been tirelessly working to surge beyond $17,000, which has become a new point of control in recent times. After being stagnant for nearly a month, the volatility has marked its bottom and pushed the long-term holders into a deep loss while short-term holders extract small profits. However, in the upcoming week, Bitcoins’s efforts may be materialized as it may record the 2023 highs above $17,000 between $17,120 and $17,215.

The BTC price in the short-term is trading within an ascending triangle, largely considered bullish. The price has been constantly testing the immediate resistance close to $17,000 multiple times and facing constant rejections. However, with a single acute bullish push, the price is expected to break above the resistance. However, as the trade is yet to reach the apex, a pullback within the same triangle could be imminent. 

Therefore, the Bitcoin price this week may continue to hover below the crucial resistance at $17,000 and if the bulls get exhausted, an interim pullback below $16,500 is quite possible without extreme bearish pressure. 

Ethereum Price

The Ethereum price, on the other hand, is displaying huge strength compared to Bitcoin and possibly may rise to its desired target at $1300. The ETH price is soaring significantly high with frequent pullbacks which are reducing the possibilities of extreme bearish action. Moreover, the bullish volume also has accumulated to a large extent that may keep up the upswing throughout the weekend.

The ETH price is rising, forming constant bullish flags since the beginning of 2023. Therefore the current pullback may drag the price a little lower which may trigger a notable upswing in the next few hours. With a notable upswing, the Ethereum price may eventually rise back to $1300 anytime in the coming week. 



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Ethereum Developers Push Shanghai Upgrade-Will this Impact the ETH Price Rally?

January 6, 2023 by Felix


Ethereum network is moving ahead towards the much anticipated Shanghai upgrade that enables the validators to withdraw their staked ETH from ETH 2.0. However, the upgrade which was scheduled in March 2023 is reportedly being pushed forward. As per some reports, the Ethereum developers during the first virtual meeting of the year said they may postpone the launch as they want to include several other features in the upgrade. 

“We should probably be just removing stuff at this point,” said Tim Beiko on the call which was broadcasted on youtube.

However, the fresh dates have not been announced yet. While this may not be directly impacting the ETH price rally which appears to have started sinking and has dropped below the crucial support at $1250. 

Trading View

The price with the recent jump followed by a consolidation was assumed to have trading within a bullish flag and hence an upswing toward $1280 was on the cards. While the current bearish pressure emerged out of the box, dragging the price towards the immediate support at $1240. A bounce at these levels may be expected but the price may largely consolidate along these levels without reaching out towards the lower support close to $1230. 

Meanwhile, in the longer time frame, the ETH price remains fairly bullish as the price levels are within a bullish trade set-up. 

Trading View

Despite the fresh bearish actions, the ETH price continues to hover within the symmetrical triangle and follows a parallel trade. The price variations may continue but within the bullish pattern that suggests the asset could be accumulating strength to rise above the consolidation very soon. 

Meanwhile, the ETH price which is largely considered stable is believed to be impacted slightly by the developments of the platform. While the bears appear to be all set to take back control at the earliest. 



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Top Predictions for Bitcoin ( BTC) and Ethereum( ETH ) for January 2023

December 31, 2022 by Felix


Crypto markets are on the edge of closing the yearly trade in 2022 which has been historically bearish. It appeared that the markets have been cleansed after the gigantic bull run which elevated the prices euphorically as the markets turned hopium. However, after the unwanted characters have exited the market, now it seems to be time for a notable upswing ahead. 

Below mentioned are the top predictions for January 2023

Bitcoin (BTC) 

Bitcoin prices continue to trade just above the support levels it has been held for over a month now. The price has been testing the crucial 200-day MA levels for the past few days but woefully facing a steep rejection each time. Meanwhile, the bearish volume continues to prevail due to which the BTC price is feared to retest the 2022 lows again. 

Trading View

The BTC price has slashed the volatility heavily due to which the bulls continue to remain off-shore. The bearish triangle is being extended finely signaling the continuation of a bearish triangle. In the next 24-48 hours, the BTC price is believed to test the upper resistance at the 200-day MA levels which also coincides with the resistance of the descending triangle. A successful attempt may enable the price to rise beyond $17,000 and eventually hit $18,000 or rejection may lay down a fresh bearish wave to drop below $14,000.

Ethereum (ETH)

Ethereum price follows the star crypto but trades within a decisive symmetrical pennant. The price is yet to approach the tip of the consolidation which may consume another couple of weeks ahead. Hence the price until then could display a narrow trend within squeezed levels as the markets continue to head toward the bottom of the current bear market. 

Trading View

The ETH price is assumed to consolidate below $1200 for some more time and rise high after testing the lower support of the triangle. However, after rebounding from the lows, the price may rise high and breach above the levels and reach the crucial level at $1400. However, after reaching these levels, the ETH price may eventually face a minor rejection that may hinder progress but may sustain a bullish trend ahead. 



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Is Ethereum in more Trouble? Whales Dumped 880,000 ETH Tokens This Month

December 29, 2022 by Felix


For quite some time now, Ether, along with the rest of the cryptocurrency market, has been going through a difficult period. According to data obtained from Santiment, Ethereum whales have already sold 880,000 ETH tokens during the month of December 2022, making Ether’s current situation an even more worrying one.

Only 16.02% of the entire supply of Ethereum is said to be liquid across all centralized exchanges at the moment, according to Glassnode. When whales want to keep their assets for a significant amount of time, they will often transmit bitcoin from exchanges.

Keeping a substantial quantity of money on an exchange, which is the most sought-after target for thieves attempting to steal cryptocurrencies, exposes you to an increased chance of having your money stolen.

Ethereum: 2022 price performance

In 2022, Ethereum made significant progress toward its goal of developing a global computer and a decentralized financial system by checking off numerous items on its checklist.

One of the most notable developments was the completion of the significant transition to a new, more environmentally friendly technology for powering its network.

However, the year was also marked by challenges, including concerns about censorship and record-breaking attacks on Ethereum-related infrastructure. Both of these issues played a significant role in the narrative of the year.

While Ethereum’s core code itself has never been the target of an attack, most of the major DeFi thefts that occurred during the past year caused chaos for users of Ethereum’s DeFi ecosystem.

ETH Price Analysis

In terms of Ethereum’s price, the token is presently valued at $1,193, a considerable decrease from its all-time high of $4,800 reached in November 2021.

The bears are defending the $1,223 level with force, as the bulls have been unable to push Ethereum over the 20-day exponential moving average (EMA). This may have caused the bulls to give up and retreat.

Source: TradingView

At this point, the token may drop to $1,182. If this support breaks, it might fall to the next solid support level at $1,150. If the ETH price successfully recovers from there, it might indicate that the cryptocurrency will stabilize for a few days in the $1,150 to $1,352 range.

Alternatively, a bearish pattern will emerge and push the toke further down below $1,000. 



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