More than half of all Ethereum hasn’t moved in 12 months
October 17, 20200 Comments
More than half of Ethereum’s circulating supply has not moved in more than a year, with only 39.6% of Ether (ETH) changing hands over the past 12 months.
According to Glassnode’s ‘hodlwaves,’ which offers a chronological breakdown of the velocity of on-chain transactions, roughly 28% of Ether last moved between the past 12 and 24 months — comprising the largest segment of on-chain activity.
The data suggests that many whales spent 2019 accumulating Ether in advance of the project’s ETH 2.0 overhaul — for which phase 0 is expected to commence in the coming months, allowing users to stake their Ether for the first time.
Around 20% of tokens have not moved since before October 2017, with analysts watching to see if a percentage of these coins are moved into staking with the roll-out of phase 0.
~60% of all ETH hasn’t moved in 1+ years.
With eth2 phase 0 approaching, it’ll be interesting to see how much this percentage comes down by as Ethereum OG’s move their stash into staking.
I’m particularly curious to see if any of the coins in the 5+ years category move pic.twitter.com/9H38dYAHDq
— Anthony Sassano | sassal.eth ⛽ (@sassal0x) October 14, 2020
Phase 0’s coming launch appears to have sparked a recent increase in the short-term velocity of on-chain transfers, with the share of Ether moved in the past 24 hours increasing from less than 0.5% during January and February to average more than 1% in early September.
Weekly velocity also increased from 1.5% at the start of the year to tag 5% in both July and September, while monthly and quarterly transfers similarly increased steadily since June.
By contrast, Bitcoin’s short-term on-chain velocity has largely declined since the pre-halving hype and ‘Black Thursday’ crash of early 2020, with weekly transfers sliding from nearly 6% of supply in February to between 3.5% and 4% in September.
Author: by admin
All the latest news on Ethereum 2.0
In the last few days, there has not been much information about the Ethereum 2.0 roadmap, but the news describes a constantly evolving picture.
In fact, although on the one hand, the Medalla testnet is still under revision, on the other, many people are preparing to take advantage of the innovations that will be introduced by the new protocol.
Although the exact timing of the release of version 2.0 of Ethereum is not yet known, those who want to take advantage of its launch are preparing in advance in order to gain an advantage over the others.
An example of this is Lido, which is preparing to provide an alternative solution for ETH staking.
In fact, the first stakers will be forced to lock their ETH until transactions are fully enabled on Ethereum 2.0 and this could take a few months or even years in the worst-case scenario.
The staking will be launched before the new transactions are enabled and without them it will be impossible to move, exchange or spend them.
In short, when you start staking ETH on Ethereum 2.0 in a first period they will not be usable, not even as collateral, becoming in fact illiquid.
Furthermore, only multiples of 32 ETH can be staked.
Whereas the solution proposed by Lido will make the staked ETH liquid, and allows participation with any amount, thanks to bETH tokens that will represent the ETH on the Ethereum 2.0 beacon chain with a 1:1 ratio.
In this way users, after receiving bETH in exchange for the staked ETH, will be able to use them in all the ways they can use ETH, even within potential DeFi protocols.
It should be remembered that decentralized finance is mainly based on smart contracts running on the Ethereum network, using ETH and ERC20 tokens such as bETH, which also allow tokens to be wrapped in other tokens, such as wrapped bitcoin.
In the meantime, however, some patience will be needed, because while it is assumed that the Medalla tests could be completed by the end of the year, to the extent that the new protocol will be released soon afterwards, this will not be sufficient for the complete and definitive implementation of Ethereum 2.0, and will not immediately solve the scalability problems, for example.
It is for this reason that Vitalik Buterin himself has reminded several times that the roadmap for the release of the new mainnet will be quite complex, and that there are other faster solutions for the scalability problem.
A relatively long process is therefore to be expected once the final tests on Medalla have been successful, with the addition of new solutions to enable Ethereum to compete with other already very fast and inexpensive blockchains, and above all with traditional electronic fiat currency payment systems.
The first step will be the launch of the so-called phase zero, i.e. the protocol as it emerged from the conclusion of the tests, and then move on to phase 1 and then to phase 2.
In between, there could also be a phase 1.5 that will make transactions faster and cheaper even without having yet completed the entire process.
Phase 0 will see the launch of the Beacon Chain, staking, a bridge between ETH and ETH2 and the choice of validators.
Phase 1 involves the launch of sharding and the possibility to freely convert ETH to ETH2, and vice versa.
Phase 2 will conclude the process with the current chain that will become a shard of the new one.
To date, no one can say how long it will take for this process to be completed, but many people believe that it could take a few years, although phase 0 could theoretically start in a few months.
Author: By Marco Cavicchioli
– 16 Oct 2020
Ethereum short-term Price Analysis: 16 October
Disclaimer: The findings of the following article attempt to analyze the emerging patterns in the Ethereum short-term market and its impact on the price.
The sudden surge in the price concluded on 13 October, as Ethereum’s price has been descending since. As the price appreciated there have been some bumps in the way downwards that accelerated its fall. Earlier in the day, one such bump caused ETH’s price to sink through the support at $371 and was currently trading at $370.
The short-term chart of Ethereum has been noting this downward trending price and it has been restricted within a descending channel, pushing its value further down. The sudden fall in the price could also be a result of OKEx unexpectedly suspending withdrawals on the same day. However, this fall caused the volatility in the market to surge as indicated by the widening of the Bollinger Bands.
Whereas the signal line has crossed over the price bars and has been indicating the bearish pressure in the market for quite a while. In the short term, the ETH price will be pushed lower. The MACD indicator noted that there was a willing pressure in the market as the bars turned to the negative zone and the bars are increasingly negative, this meant the selling pressure was gaining weight.
The above Fibonacci Retracement tool highlighted the most traded range for ETH’s price in the given period. It has mostly traded between $369 and $377. However, the price has been wavering for the past few days and resulted in ETH breaching its support at $371.92, as this level becomes a resistance going forward. The 50 Moving Average remained well- above the price bars, noting the price trend has changed and remained low.
The price of ETH may bounce back in its range of $373-$371 soon, but it may need another boost to rise from here.
Author: by admin
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Ethereum Meta Tops 24 Hour Volume of $11.00 (ETHM)
Ethereum Meta (CURRENCY:ETHM) traded up 67.5% against the US dollar during the one day period ending at 14:00 PM ET on October 16th. One Ethereum Meta token can currently be purchased for about $0.0001 or 0.00000001 BTC on cryptocurrency exchanges including Token Store and STEX. Ethereum Meta has a total market cap of $5.68 million and $11.00 worth of Ethereum Meta was traded on exchanges in the last 24 hours. During the last week, Ethereum Meta has traded up 55.7% against the US dollar.
Here is how other cryptocurrencies have performed during the last 24 hours:
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. Ethereum Meta’s official website is ethermeta.com.
Ethereum Meta Token Trading
Ethereum Meta can be traded on these cryptocurrency exchanges: STEX and Token Store. It is usually not presently possible to buy alternative cryptocurrencies such as Ethereum Meta directly using U.S. dollars. Investors seeking to acquire Ethereum Meta should first buy Ethereum or Bitcoin using an exchange that deals in U.S. 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 aforementioned exchanges.
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Author: Kay Greene