Ethereum’s daily transactions forecast flippining – securebitcoinnews
The latest findings by Santiment, published in Cointelegraph Consulting’s biweekly newsletter, suggest that Ether is poised for gains.
The amount of Ethereum transacted on the blockchain daily has grown from an average of 3.85 million in July to 4.75 million in August, recording a 5-month high of 7.74 million on Tuesday.
The chasm between Bitcoin and Ethereum’s transaction volume has been growing for several months now. Ethereum’s daily on-chain transaction volume was 60% that of Bitcoin’s, after hitting an all-time low of 0.6 on August 30th. This marked the lowest transactional disparity ever recorded between the two largest Blockchain networks.
This increase in on-chain transaction volume comes at a cost. ETH transaction fees are once again approaching record highs, with an average fee of $5.83 registered on Monday, August 31st. In fact, the transaction fees on Ethereum have been soaring all throughout the past month; in August, the average daily transaction fees amounted to $3.68 million, compared to just $1.08 million the month before — a 240% increase.
The fee hike is precipitated in no small part by the growing popularity of decentralized financial protocols and yield farming platforms. Overall, the total value locked in DeFi has more than doubled over the last month, soaring from $3.99 billion at the start of August to $8.28 billion today.
Over the past 14 days, the combined balance of the largest ETH addresses not owned by centralized exchanges has grown by an additional 886,560 ETH (~$350,000,000 at current prices), indicating renewed confidence in the coin’s short-term price potential among some of its major investors.
Read the full newsletter edition here to get the entire scoop, complete with charts and images.
Cointelegraph’s Market Insights Newsletter shares our knowledge on the fundamentals that move the digital asset market. With market intelligence from one of the industry’s leading analytics providers, Santiment, the newsletter dives into the latest data on social media sentiment, on-chain metrics and derivatives.
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Source: securebitcoinnews.com
Ethereum Meta Trading 11% Higher Over Last Week (ETHM)
Ethereum Meta (CURRENCY:ETHM) traded 47.2% lower against the U.S. dollar during the 24 hour period ending at 18:00 PM ET on August 29th. One Ethereum Meta token can now be bought for about $0.0001 or 0.00000001 BTC on cryptocurrency exchanges including Token Store and STEX. In the last seven days, Ethereum Meta has traded 11% higher against the U.S. dollar. Ethereum Meta has a total market capitalization of $6.07 million and approximately $3,712.00 worth of Ethereum Meta was traded on exchanges in the last day.
Here’s how other cryptocurrencies have performed in the last day:
Ethereum Meta Token Profile
Ethereum Meta’s genesis date was December 28th, 2017. Ethereum Meta’s total supply is 99,000,000,000 tokens and its circulating supply is 50,010,379,198 tokens. Ethereum Meta’s official Twitter account is @EthereumMeta and its Facebook page is accessible here. The official website for Ethereum Meta is ethermeta.com.
Ethereum Meta Token Trading
Ethereum Meta can be purchased on these cryptocurrency exchanges: STEX and Token Store. It is usually not possible to buy alternative cryptocurrencies such as Ethereum Meta directly using US dollars. Investors seeking to acquire Ethereum Meta should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as Coinbase, Changelly or Gemini. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Ethereum Meta using one of the exchanges listed above.
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Source: theolympiareport.com
Mark James
Ethereum’s daily transactions forecast flippining
The latest findings by Santiment, published in Cointelegraph Consulting’s biweekly newsletter, suggest that Ether is poised for gains.
The amount of Ethereum transacted on the blockchain daily has grown from an average of 3.85 million in July to 4.75 million in August, recording a 5-month high of 7.74 million on Tuesday.
The chasm between Bitcoin and Ethereum’s transaction volume has been growing for several months now. Ethereum’s daily on-chain transaction volume was 60% that of Bitcoin’s, after hitting an all-time low of 0.6 on August 30th. This marked the lowest transactional disparity ever recorded between the two largest Blockchain networks.
This increase in on-chain transaction volume comes at a cost. ETH transaction fees are once again approaching record highs, with an average fee of $5.83 registered on Monday, August 31st. In fact, the transaction fees on Ethereum have been soaring all throughout the past month; in August, the average daily transaction fees amounted to $3.68 million, compared to just $1.08 million the month before — a 240% increase.
The fee hike is precipitated in no small part by the growing popularity of decentralized financial protocols and yield farming platforms. Overall, the total value locked in DeFi has more than doubled over the last month, soaring from $3.99 billion at the start of August to $8.28 billion today.
Over the past 14 days, the combined balance of the largest ETH addresses not owned by centralized exchanges has grown by an additional 886,560 ETH (~$350,000,000 at current prices), indicating renewed confidence in the coin’s short-term price potential among some of its major investors.
Read the full newsletter edition here to get the entire scoop, complete with charts and images.
Cointelegraph’s Market Insights Newsletter shares our knowledge on the fundamentals that move the digital asset market. With market intelligence from one of the industry’s leading analytics providers, Santiment, the newsletter dives into the latest data on social media sentiment, on-chain metrics and derivatives.
Source: www.bit-cointalk.com
Ethereum Closes Below $400, Here’s A Key Support Turned Resistance
Ethereum nosedived and broke the $400 support zone against the US Dollar. ETH price could correct higher, but the previous support near $400 is likely to act as a major hurdle.
In the past three sessions, there was a strong decline in bitcoin and Ethereum below $11,000 and $400 respectively against the US Dollar. ETH price is down over 10% and it broke the $420 and $400 support levels.
The decline was such that the price even traded below the $385 support and settled below the 100 hourly simple moving average. A new monthly low is formed near $371 and ether is currently consolidating losses.
An initial resistance is near the $390 level. It is close to the 23.6% Fib retracement level of the recent slide from the $445 swing high to $371 low. The first major resistance on the upside is near the $400 level (the previous support and now a major resistance).
There is also a crucial bearish trend line forming with resistance near $400 on the hourly chart of ETH/USD. The next major resistance is near the $410 level since it is close to the 50% Fib retracement level of the recent slide from the $445 swing high to $371 low.
A successful break above the trend line and then $410 is must to start a fresh increase in the near term. The next key hurdle for the bulls could be $428 and the 100 hourly SMA.
If Ethereum fails to correct higher above the $400 resistance, it is likely to continue lower. An initial support on the downside is near the $375 level.
A downside break below $375 and $370 could spark a larger decline. The next major support is near the $350 level, where the bulls are likely to take a stand.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is slowly losing momentum in the bearish zone.
Hourly RSI – The RSI for ETH/USD is now well below the 40 level.
Major Support Level – $370
Major Resistance Level – $400
This post was originally published on www.newsbtc.com
Source: www.cryptoalphanews.com
Author: cm_team
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