Ethereum Retains Complete support from the Daily MAs

Ethereum Retains Complete support from the Daily MAs

Ethereum may not be in the news these days as other altcoins of the market take the entire limelight. However, Ethereum—the largest altcoin of the global crypto market by market cap cannot be forgotten so early as it will be one of the most renowned and shilled coins until next year.

The first SEC-approved digital securities based on Ethereum are going to be US treasuries. Once this is issued, the bonds of all supreme nations will end up issuing their tokens on Ethereum sooner or later.

T-bills on Ethereum!

The first SEC-approved digital securities are going to be US treasuries. They’ll be issued as tokens on Ethereum.

The bonds of all sovereign nation states will end up on Ethereum. Value will accrue to staked ETH…the non-sovereign bond of Ethereum.

🚀

— Ryan Sean Adams – rsa.eth 🏴 (@RyanSAdams) July 8, 2020

Experts are not failing to believe in Ethereum irrespective of its current price movement that is notably below $300 and $255 as well. The next 6-12 months are believed to be extremely major for the Ethereum blockchain platform and for investors. In this regard, DApps will see a spike in its use as an enterprise will adapt to having DApps chosen scaling solution, which ultimately will lead to pushing Ethereum, which is the shift in the prototype of Ethereum.

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For those who don’t spend every moment reading about #Ethereum , here is a crash course on what is about to happen in the next 6-12 months…

I’m keeping the time frame tight and trying not to speculate too far into the future (maybe another thread).

— Tyler.Smith.eth (@R_Tyler_Smith) July 7, 2020

ETH price is facing a stringent rejection above $255 for more than 4 months now. However, the largest altcoin by market cap is believed to regain the lost strength soon.

On the 24-hourly chart, Ethereum is facing a tough resistance at $255 price level for the past four months, and if we examine the YTD chart, we see that $290 and $300 happen to be the most stringent resistances. On the YTD chart, ETH/USD is drawing an uptrend straight after the massive sell-off in March, although intermittent dips remain static.

On the intraday chart of ETH/USD, the coin is drawing a higher high pattern since the beginning of the ongoing week. With altcoins gaining enough momentum these days, the king of altcoins has also gained over 6% from trading around $230 at the onset of the week to currently trading at $245.

The MACD chart shows a bearish crossover due to the recent pullback from the 3-week high of $249, while the RSI of ETH holds no trading extremities at 50.

Source: otcpm24.com

Author: News Bureau


Ethereum’s DeFi sector breaks $2 billion – New boom due to Kyber – Bitcoin Isle

Ethereum’s DeFi sector breaks $2 billion – New boom due to Kyber – Bitcoin Isle

Click here to view original web page at www.crypto-news-flash.com

  • Data from DeFi Pulse is showing that the DeFi sector of Ethereum (ETH) has reached a new all-time high of $2.15 billion.
  • Kyber Network has deployed the Katalyst protocol upgrade and launched the KyberDAO.

The data from the DeFi pulse show that the DeFi sector of the Ethereum has reached a new milestone. At the time of publication, 2.15 billion dollars are bound in the various protocols that make up the ecosystem. As shown in the figure below, the DeFi sector suffered a sharp decline in March, on “Black Thursday”. When prices in the crypto market collapsed, the DeFi sector also crashed. Since then, however, the DeFi sector has shown a 60% rebound, with the latest surge being strongly driven by Compound with a dominance if 31.69% in the market.

The total value locked (TVL) is twice the maximum it reached at the beginning of the year, before the flash crash in March. Moreover, it is the first time the DeFi market exceeds $2 billion since its emergence in October 2017. One of the main reasons for the sector’s growth is the arrival of new investors. The business model and profits offered by some protocols in the sector are attractive to new investors, as Messari researcher Jack Purdy stated:

Currently there’s ~$25 million of tokens being distributed every month through yield farming opportunities on DeFi. It’s proven to be an incredibly effective mechanism for building liquidity.

The researcher compared the success of the DeFi sector with the case of the company Jet.com. He said that both cases show how the creation of incentives, in addition to adoption, are crucial factors for the growth of the market and the ecosystem.

In June this year, the launch of the Compound protocol’s COMP token marked a turning point for the DeFi sector. The incentives offered by the platform led to a significant increase in demand for the COMP token. As a result, the DeFi sector experienced a boom that led to the referred increase in the TVL.

The phenomenon could be now replicated in the short term due to the launch of the KyberDAO platform and the Katalyst protocol update. In a publication, the Kyber Network team announced “epoch 0” that will allow its users to delegate the Kyber Network Crystal (KNC) token and, starting next week, token holders will be able to stake them to the KyberDAO platform for profits paid in ETH.

At the time of publication, according to data from Kyber, investors have staked 11,898,152 KNC, which represent around 19 million USD. By offering incentives for the participation of KNC token holders, Kyber seems to be making a bet on a model similar to Compound’s.

KNC holders can stake their tokens on the KyberDAO and govern the protocol by voting on important proposals and parameters, while earning rewards (in ETH) for their efforts. Any KNC holder can contribute to Kyber’s development by participating in the KyberDAO.

Last updated on July 9, 2020

Source: www.bitcoinisle.com


Explosive Defi, Stablecoin Activity Send Ethereum Fees Above Bitcoin

Explosive Defi, Stablecoin Activity Send Ethereum Fees Above Bitcoin

  • The median transaction fees on the Ethereum blockchain have been above Bitcoin’s for over a month.
  • Data aggregator Messari noted that an explosion of activities on Ethereum-backed decentralized finance and stablecoin projects shot its fees higher.
  • It further stated the Ethereum’s consistent uptrend shows that its demand is not slowing down.

Ethereum has set a new record against Bitcoin.

The second-largest blockchain project by market capitalization charged higher fees for confirming blocks throughout the past 30 days. Its median transaction charge surpassed that of Bitcoin and stayed there for over a month, the most prolonged such period in Ethereum’s lifetime.

ethereum, ethereum fees, ethusd, ethusdt, defi, stablecoin

Ethereum fees stay at higher levels above its top rival Bitcoin. Source: Messari

Data aggregator service Messari reported that the recent surge in Ethereum fees came in the wake of increased activity on decentralized finance (DeFi) and stablecoin projects (up by over 100 percent YTD). It said the “flippening” looked more utility-driven, adding:

“DeFi activity has exploded, partly driven by the fervor around “liquidity mining” and recent application upgrades (Uniswap v2, Kyber Katalyst).”

In a separate report, data analysis firm CoinMetrics plotted the activity of Ethereum’s top DeFi projects to measure its overall impact on its blockchain. It found that DeFi tokens Ox (ZRX) and Kyber Network (KNC) each witnessed an increase in the number of addresses.

ethereum, ethereum fees, ethusd, ethusdt, defi, stablecoin

What cryptocurrency will become the main one in a year?
BitcoinEthereum
Defi projects report an increase in the number of addresses. Source: CoinMetrics

CoinMetrics noted that KNC hit new all-time highs entering July ahead of its Katalyst and KyberDAO updates. The events will introduce new staking rewards, allowing KNC holders “to participate in protocol governance by staking their tokens while earning ETH rewards in return.”

It further highlighted a similar growth in the ZRX active addresses entering July. MKR addresses have declined since a peak in mid-June, but are still relatively elevated.

The uptick pointed to a more significant amount of transactional throughput across the ETH blockchain. It led miners to raise their gas limits by 25 percent back in June, thereby causing the fees per block to increase in tandem.

The latest fees increase followed miners’ similar call nine months ago. A coordinated effort led to a 25 percent gas limit rally to aid the Ethereum network through the mass printing of Tether’s stablecoins USDT.

But Messari saw a glitch in the way Ethereum fees go up. The portal wrote in a Thursday note that it would cause UX problems while warding off new users. Meanwhile, it discussed the prospects of layer-2 solutions to limit the impact of higher ETH fees on the blockchain’s growth. Excerpts:

“All eyes will [now] be on the adoption of recently launched Layer-2 scaling solutions like OMG Network, Matic Network, and the various rollup iterations to alleviate an increase in fee price.”

The growth nonetheless served bullish cues to Ether that has surged by more than 80 percent YTD on DeFi and stablecoin adoption.

ethereum, ethereum fees, ethusd, ethusdt, defi, stablecoin

ETHUSD is up 165% from its mid-March lows. Source: TradingView.com

The ETH/USD exchange rate stands stuck below $250, now trading near $239.

Photo by Jens Johnsson on Unsplash

Yashu Gola

Yashu Gola is a Mumbai-based finance journalist. He is profoundly active in the bitcoin space since 2014 – and has contributed to several cryptocurrency media outlets, including NewsBTC, FxDailyReport, Bitcoinist, and CCN. Academically, Yashu holds a bachelor’s in information technology, with majors in data structures and C++ programming language. He has also won the ‘Atulya Award’ for his efforts towards raising $100,000 for an India-based farming project.

Source: www.newsbtc.com

Author: Yashu Gola


Ethereum News Today – Headlines for July 9

Ethereum News Today – Headlines for July 9

  • Ethereum’s price broke above a crucial resistance in the short-term
  • The digital asset is targeting a fresh rally to 0.032 SATs
  • ETH may force a breakout move in BTC’s market

Ethereum News Today – the number two largest crypto is eyeing a huge breakout to 0.032 SATs. At least that’s what crypto analyst Peter Brandt believes. The veteran cryptocurrency strategist predicted that the altcoin rally should Ether price higher. Ethereum is now performing better since the “halving” event that occurred on May 11.

The ETH/BTC pair has climbed by 24% to 0.0263 SATs from its the position it reached that gave rise to the May 13 low. ETH’s gains have picked momentum as we continue the current week. The price of Ethereum has risen faster when compared to Bitcoin in the USD markets. This has been the overall outlook for altcoins as some rallied by as high as 40% in only 24-hours of trade.

Bitcoin’s record-setting positive correlation with ETH has prompted Ether to move higher. Bitcoin’s correlation efficiency with Ether currently stands at 0.87, which reflects a higher rate of mirrored price actions. As BTC rises even if it’s by smaller percentages, altcoins with low volume and liquidity go higher.

Ether remains well-placed crypto, with better on-chain metrics and an active trading community to back the surge. This explains why veteran analyst Peter Brandt sees it as an excellent trigger for the next rally. Brandt spotted Ether breaking above its technical resistance over the past week. The first ceiling was at 0.0256 SATs, and the second was at 0.02613 SATs. That marked a short breakout for Ethereum since the coin has been looking to close above the above-mentioned resistances since April.

Brandt noted that ETH/BTC might head higher to test a high at 0.02851 SATs. The analyst extended his bullish target for the price of Ethereum against BTC to 0.03276 SATs. He didn’t mention the factors that would propel ETH/BTC higher but he noted that such a breakout would trigger an altcoin rally. The comments came up in the wake of a drop in Bitcoin’s dominance. As the number one cryptocurrency by market cap remained stuck between the $9,500 and the $9,000 in the last three weeks, crypto traders moved to smaller-cap tokens. The idea is to secure their short-term gains from high volatility.

According to the macro investor, Raoul Paul, an altcoin rally is set to commence soon. He added that it would need Bitcoin to break its stiff long-term resistance position. Considering the correlation between Ether and BTC, the former may rise in the latter’s market.

News Source

Source: elevenews.com

Author: Published 23 hours ago


Ethereum 2.0 LIVE – Blockchain & Exchange, Finance, Investments 2020 and the Future of ETH

Ethereum 2.0 LIVE – Blockchain & Exchange, Finance, Investments 2020 and the Future of ETH

✔️ MORE INFO ON: https://buterin-eth.com

Buterin is a co-founder and inventor of Ethereum, described as a “decentralised mining network and software development platform rolled into one”that facilitates the creation of new cryptocurrencies and programs that share a single blockchain

Buterin first described Ethereum in a white paper in late 2013. Buterin argued that bitcoin needed a scripting language for application development. But when he failed to gain agreement, he proposed development of a new platform with a more general scripting language. About the Ethereum Project, Buterin has said: “I am truly grateful to have the opportunity to work in such an interesting and interdisciplinary area of industry, where I have the chance to interact with cryptographers, mathematicians and economists prominent in their fields, to help build software and tools that already affect tens of thousands of people around the world, and to work on advanced problems in computer science, economics and philosophy every week.” However, in a 2018 New Yorker article, his father suggests that Buterin is trying to avoid the focus on him as the philosopher king of the blockchain world. “He is trying to focus his time on research,” Dmitry said. “He’s not too excited that the community assigns so much importance to him. He wants the community to be more resilient.

Source: wptag.theviralcash.org

Author: The Viral Inn


Ethereum Retains Complete support from the Daily MAs


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