Etherium

Ethereum balance on crypto exchanges hits new lows as ETH price retakes $3K
Bitcoin, Etherium

Ethereum balance on crypto exchanges hits new lows as ETH price retakes $3K

The total amount of Ether (ETH) held by all the crypto exchanges fell to its lowest levels, just as its price rose back above $3,000 per token on Sept. 23.Data collected by CryptoQuant, a blockchain analytics platform, showed that exchanges' net Ethereum token reserves dropped to 18.533 million ETH, compared to 23.92 million ETH a year ago. Meanwhile, the cost to purchase one Ether rose from almost $349 to as high as $3,078, showcasing an inverse correlation between ETH reserves on exchanges and prices. Ethereum all exchange reserves versus ETH/USD price performance. Source: CryptoQuantSupply-demand factorLower exchange reserves point to traders' likelihood of holding the underlying cryptocurrency than trading it for other digital/fiat assets. Hence, if the demand for the token t...
Crypto markets soar after Fed commits to printing and Evergrande plans to pay its debt
Etherium

Crypto markets soar after Fed commits to printing and Evergrande plans to pay its debt

The cryptocurrency ecosystem is showing signs of a recovery on Sept. 22 following a 48-hour corrective stint which saw Bitcoin and altcoins sell-off to their swing lows. Equities and crypto investors were clearly worried about the possible bankruptcy of China’s Evergrande real estate firm and many feared that the possible default could spark a global decline in financial markets.These concerns were temporarily put to rest after the real estate firm was able to come to an agreement with bondholders and avoid defaulting on its obligations technically, and this helped to spark a recovery across the cryptocurrency market that lifted Bitcoin (BTC) to a daily high at $44,000. Data from Cointelegraph Markets Pro and TradingView shows that since reaching a low of $39,572 on the evening hours of Se...
Ethereum ‘head & shoulders’ chart pattern puts ETH price at risk of dropping to $2K
Bitcoin, Etherium

Ethereum ‘head & shoulders’ chart pattern puts ETH price at risk of dropping to $2K

Ethereum's native token Ether (ETH) rates may fall to a two-month low after it slid below support at around $2,954, based on a classic trading pattern.The $2,954 level represents a so-called neckline constituting a head and shoulders setup. In detail, the said support level appears to be a floor to three peaks, with the middle one (HEAD) higher than the other two (SHOULDERS). A breach below the $2,954 level signals a trend reversal, suggesting that ETH/USD may fall by a length equal to the distance between the head's peak and neckline.ETH/USD daily price chart featuring head and shoulders pattern. Source: Peter BrandtPeter Brandt, CEO of global trading firm Factor LLC, shared the bearish pattern late Monday, noting that a successful breakdown below $2,954 could crash prices to arou $2...
Ethereum forming a double top? ETH price loses 12.5% amid Evergrande contagion fears
Etherium

Ethereum forming a double top? ETH price loses 12.5% amid Evergrande contagion fears

Ethereum's native asset Ether (ETH) prices slumped on Sept. 20 amid a broad selloff in the cryptocurrency market, led by worries about a potential housing bubble crisis brewing in China.The ETH/USD exchange rate dropped as much as 12.52% to $2,911 on the Coinbase exchange, hitting its lowest levels since the beginning of August 2021. Elsewhere in the crypto market, Bitcoin (BTC), Binance Coin (BNB), Cardano (ADA), Solana (SOL), and other top tokens plunged in tandem.The performance of top ten crypto assets in the past 24 hours. Source: MessariThe drop imitated the mood in the broader market as U.S. equities plunged following a day of red in both the Asia-Pacific and European indexes. On the other hand, the U.S. dollar and government bonds surged on haven-buying.At the core of Monday's sell...
Optimism announces upgrades enabling ‘one-click’ roll-up deployment
Etherium

Optimism announces upgrades enabling ‘one-click’ roll-up deployment

According to a blog post published by Optimism on Sept. 18, the team anticipates Ethereum-native protocols will be able to launch on its network in a single click by the end of October.“Any tooling that can run on Ethereum will run identically on Optimistic Ethereum,” the post highlighted, adding:Optimism, the Ethereum Foundation-backed team building developing a layer-two roll-up network, has announced upgrades to its protocol that will enable developers to deploy on its network in just “one-click.”“Anyone who has written code targeting Geth can now deploy without change — even for advanced features like traces and gas.”The post asserts that Optimism overhauled its code in a bid to extend beyond Ethereum Virtual Machine (EVM) compatibility to achieve “EVM equivalence” through shrinking th...
Finance Redefined: Maverick Vitalik in Time Mag, Sept. 13–17
Etherium

Finance Redefined: Maverick Vitalik in Time Mag, Sept. 13–17

Welcome to the latest edition of Cointelegraph’s decentralized finance, or DeFi, newsletter.Despite Cardano founder Charles Hoskinson's claim that the DeFi space is now “up for grabs,“ it was rival Vitalik Buterin who stole the headlines this week with a feature in Time Magazine.What you’re about to read is the smaller version of this newsletter designed for brevity. For the full version of DeFi’s developments over the last week — released a whole lot quicker than Cardano’s smart contracts — drop your email below.Buterin’s Time to ShineEthereum founder Vitalik Buterin was listed in Time Magazine’s 100 most influential people of 2021 this week for his distinguished contributions to the growth of the Ethereum network to over $420 billion in market capitalization, as well as fostering the eme...
$1.2B in Ether withdrawn from centralized exchanges in record daily outflow
Etherium

$1.2B in Ether withdrawn from centralized exchanges in record daily outflow

More than $1 billion worth of Ether (ETH) has been removed from centralized exchanges in the past 24 hours, leading to speculation about imminent price gains for Ether as supply shrinks on many trading venues.According to data shared by crypto analytics provider IntoTheBlock, $1.2 billion worth of ETH was withdrawn from centralized exchanges on Thursday to mark a new record in short-term outflows from exchanges.IntoTheBlock noted that Ether’s price rallied by 60% in the 30 days after $1 billion was pulled from centralized trading platforms in April.The net amount of $ETH leaving exchanges just hit a new recordOver $1.2B worth of $ETH left centralized exchanges yesterdayLast time $1B+ left CEXs, #Ethereum increased by 60% within 30 days pic.twitter.com/wfRuX11Rtk— IntoTheBlock (@intothebloc...
Avalanche (AVAX) just hit a new ATH, but what’s really behind the price surge?
Etherium

Avalanche (AVAX) just hit a new ATH, but what’s really behind the price surge?

On Sept.16 Avalanche (AVAX) price hit a new all-time high at $68.89 and over the last few months the project has risen to challenge the Ethereum (ETH) network’s dominance among smart contract platforms. According to the project's website, the layer-one protocol capable of surpassing 4,500 transactions per second (TPS) with a time to finality of less than 2 seconds. Data from Cointelegraph Markets Pro and TradingView shows that since hitting a low of $32.10 on Sept. 7, the price of AVAX has rallied 111% to establish a new all-time high on Sept. 16 as its 24-hour trading volume spiked 200% to $2.8 billion. AVAX/USDT 4-hour chart. Source: TradingViewThree reasons for the surging price of AVAX include the recent completion of a $230 investment round by large capital funds, the continued migrat...
Ethereum options data suggests the battle for $4K ETH is at least a week away
Etherium

Ethereum options data suggests the battle for $4K ETH is at least a week away

For the past 40 days, Ether (ETH) has trended modestly upward, respecting a narrow channel most of the time. It enjoyed a brief rally toward $4,000 in the first week of September, but a subsequent crash brought the price into the ascending channel.Ether price at Bitstamp in USD. Source: TradingViewIn August, nonfungible tokens posted record-breaking transactions, clogging the Ethereum network and causing average transaction fees to surpass $40 in early September. Although NFT trading volume has continued to subside, new items continue to be minted every minute regardless of whether they're being traded.On Sept.13, Cathie Wood — CEO of Ark Invest, a $58 billion asset manager based in the United States — commented that Ark aims for a 60% Bitcoin (BTC) and 40% Ether allocation. Ark Invest hol...
Ethereum eyes $6.5K bullish target as ETH price chart paints ‘cup and handle’
Etherium

Ethereum eyes $6.5K bullish target as ETH price chart paints ‘cup and handle’

Ethereum blockchain’s native asset, Ether (ETH), faces the prospect of exploding toward $6,500 in the coming sessions.ETH looks like a cup and handle too. Thoughts?— Raoul Pal (@RaoulGMI) September 15, 2021The bullish analogy takes cues from a textbook technical pattern dubbed “cup and handle.” In detail, a cup and handle structure develops after the price first rallies significantly to the upside and then corrects to carve out a rounding bottom, called the “cup.”The move follows a rebound toward the prior high and a failed breakout attempt above the said level. As a result, the price pulls back once again and grinds out a smaller rounding bottom, called the “handle.”Ultimately, the price returns to a prior high for the second time and breaks out successfully, resulting in a move equal to ...