Ethereum Developers Discuss Potential Ways to Avoid ETCs Fate – Cointelegraph

In a Core Devs meeting on Friday, Ethereum (ETH) developers discussed potential measures that could be taken to prevent successful 51% attacks from occurring.

The discussion was inspired by this weeks 51% attacks on Ethereum Classic (ETC) a network that represents the original state of Ethereum where the consequences of the DAO hack in 2016 were not reverted. The original attack, which occurred between July 31 and Aug. 1, was revealed to be a carefully orchestrated attempt at a double-spend that netted over $5 million in ETC to the attacker for a $200,000 investment in hashpower.

During the call, Ethereum client developers discussed if they should take additional measures against these attacks and how such measures should be implemented.

A potential protection against chain reorganization is setting up checkpoints at a node level which would set the history of the blockchain in stone after that point. Any proposed blockchain changes beyond this checkpoint would thus be rejected by nodes.

Chain reorganizations rely on mining an alternative version of the blockchain with a higher amount of hashpower than the commonly-accepted version. Due to the rules of Nakamoto consensus, the chain with a higher accumulated proof-of-work would automatically replace the original when published to nodes.

Peter Szilagyi, developer of theGeth client, said that the software already rejects reorganizations deeper than 90,000 blocks, or two weeks. This is however much higher than the effective reorg that happened in ETC of about 4,000 blocks.

While lowering this threshold could help defend from similar attacks, Alexey Akhunov of OpenEthereum noted that caps set too low can have unforeseen consequences.

The depth of the ETC reorg was dictated in part by a history of earlier attacks. These led exchanges to massively raise the confirmation threshold to accept deposits.

Szilagyi said that for Ethereum, there is no need for thousands of blocks. Decentralized exchanges could be gamed by censoring transactions and maximizing the hackers trading gains with reorganizations of just a few blocks. Setting a checkpoint cap that low may result in significant usability issues. He added:

I just wanted to highlight that once you accept that there are 51% attacks on the network, a lot of things start breaking, because a lot of things rely on the assumption that you cannot have deep reorgs.

Tim Beiko, a developer at Ethereum development company PegaSys, noted that ETCs case may be different. Due to it being a much smaller and less valuable chain, it is easy to gather the required hashpower to complete a 51% attack through something like Nicehash. This, to him, is a bigger concern than whatever clients implement through checkpoints.

In the end, developers agreed to discuss the issues more and think through potential improvements to Ethereums resilience.

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Ethereum Developers Discuss Potential Ways to Avoid ETCs Fate - Cointelegraph

$418 To $302 To $385: Why Ethereum Saw Extreme 30% Price Moves In 15 Minutes – Forbes

On Aug. 2, the price of Ethereum peaked at $418; then, within 5 minutes, it dropped by 25%. On Binance Futures, ETH plunged to as low as $302, before recovering back to $385 within 10 minutes.

The entire sequence of events happened in a total of 15 minutes. Ethereum hit $418, then dropped to $302, and rebounded to $385, recording a 25% drop and a 27% upsurge, respectively.

The price of Ethereum saw unusual 25% price movements in a 15-minute span.

Two factors appear to have contributed to the extreme price action of Ethereum. First, based on market structure, the $410 to $420 range has acted as a historical resistance area since 2017. Second, a sudden sell-off at the resistance led to a cascade of liquidations.

The initial drop led to liquidations of more than $1 billion worth of Bitcoin and Ethereum futures contracts in a short period, per data from ByBt. This was the largest liquidation event since March 13, when the price of Bitcoin dropped below $3,600.

In June 2017, the price of Ethereum increased from around $90 to over $400 within 28 days. The explosive rally, which happened months before Bitcoins record-high run up to $20,000, rejected at $420 on Coinbase.

The weekly chart of Ethereum against the U.S. dollar on Coinbase with a historically relevant ... [+] resistance level.

Coincidentally, the recent uptrend of Ethereum was also rejected at the same level. As soon as ETH neared $420, it saw an abrupt sell-off across major exchanges. In a few minutes, it experienced a 25% drop.

The price drop was exacerbated by cascading futures liquidations. When a long contract gets liquidated, the holder has to sell the contract, causing more selling pressure.

The steep rejection, possibly triggered by the $420 resistance and mass liquidations, marked a blowoff top. Alex Krger, a global markets analyst, wrote:

That was a blowoff top in ETH and BTC last night. A blowoff doesn't have to be the top. Silver and gold had a blowoff top last week. See how similar charts are in the days and minutes preceding the crash. Bigger picture remains unchanged. Higher highs ahead in 2020 IMO.

But, Krger emphasized that crypto assets, due to their highly volatile nature, tend to have several blowoff tops in a single cycle. Hence, he noted that whether it would be the top for Ethereum is uncertain.

A blowoff top doesn't have to be The Top. Was missing the quotes. Cryptoassets in particular are known to experience multiple blowoffs on the way up given the high use of leverage and how fragmented liquidity is. Saw that with BTC both in 2017 and 2019.

Some investors remain optimistic in the trajectory of Ethereum despite its recent market correction. Kelvin Koh, the co-founder of cryptocurrency venture capital firm Spartan Black, said Ethereum is leading the crypto markets uptrend.

Suggesting that the basis of the Ethereum rally is in anticipation for ETH 2.0, he said:

ETH is leading this charge driven by optimism around the impending launch of ETH 2.0 phase 0 later this month. Depending on how hard ETH runs, the successful launch of phase 0 may culminate in a near term peak for ETH and other large caps.

ETH 2.0 is a key phase in the development of Ethereum that would eventually phase out miners. It optimizes the network to scale, as users stake their ETH to participate in the network and process data.

Ethereum, along with other major cryptocurrencies, including Bitcoin, saw extreme price actions throughout the last 24 hours. For now, the sentiment of analysts remains cautiously optimistic due to various medium-term factors such as ETH 2.0 and decentralized finance (DeFi) growth.

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$418 To $302 To $385: Why Ethereum Saw Extreme 30% Price Moves In 15 Minutes - Forbes

How many Ethereum in circulation? asks the Bitcoin community – CryptoSlate

The great Ethereum supply debate is onand its turning fierce. If you dont follow; the networks infinite supply has been a point of many discussions since its inception in 2015.

That means unlike Bitcoin (and thousands of other cryptos), theres no cap to how many Ethers can exist in the open market with the idea being supply increases every year as long as Ethereum exists.

The total supply of Ether was around 110.5 million as of 16 April 2020. In 2017, mining generated 9.2 million new ETH, corresponding to a 10% increase in its total supply. There is no currently implemented hard cap on the total supply of ETH.

So far, there was no major issue with how Ethereum operated. Yes, the critics were ever-present and ICO fanatics made millions, but no one really cared about what the Ethereum supply was like (as long as bags were pumped).

But since this month on the back of a rise in DeFi projects the criticism has risen, and its not the run-of-the-mill crypto scammers raising questions. Instead, prominent members of the Bitcoin community are leading the charge seeking the one true answer; how many ETH anyway?

It started when Micheal Goldstein commended on Arcane Research CIO Eric Walls Twitter thread; Can they articulate how to easily and independently verify the monetary supply of ETH?

When asked about the 21 million supply cap of Bitcoin, Goldstein said the asset can be verified by anyone using a Bitcoin-cli and a full node.

Andrew, a thread commenter who seemed to explain how Ethereums uncapped supply was similar to Bitcoins, said that the former can be appropriated using a model of issuance rules with the current issuance. However, Monero lead developer, and code maintainer, Riccardo Spagni was quick to state that any interested party can independently verify the Bitcoin supply with the same relatively difficult to do for Ethereum, he stated.

After the thread above started to spark further interest into how many ETH really are in circulation, Ethereum co-founder Vitalik Buterin jumped in on his Twitter account to explain his view. He tweeted:

He later mentioned how to check the Ethereum supply, using this link. In further comments, Buterin noted there were 112 million ETH in circulation.

But some, like developer and Bitcoin educator Pierre Rochard, were unconvinced:

Meanwhile, Leon ran the script and came up with several different supply figures when he (claimed on Twitter) to have ran the script:

And of course, it couldnt have been a crypto argument without someone dropping a meme:

The debate rages on.

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How many Ethereum in circulation? asks the Bitcoin community - CryptoSlate

EOS, Ethereum and Ripples XRP Daily Tech Analysis August 8th, 2020 – Yahoo Finance

EOS

EOS fell by 2.54% on Friday. Reversing a 1.05% gain from Thursday, EOS ended the day at $3.0074.

A bullish start to the day saw EOS rally to a late morning intraday $3.2450 before hitting reverse.

EOS broke through the first major resistance level at $3.1778 before sliding to a late afternoon intraday low $2.7496.

EOS fell through the first major support level at $2.990 and the second major support level at $2.9101.

Finding support late in the day, EOS moved back through the support levels to wrap up the day at $3.00 levels

At the time of writing, EOS was down by 0.43% to $2.9945. A bearish start to the day saw EOS fall from an early morning high $3.0095 to a low $2.9945.

EOS left the major support and resistance levels untested early on.

EOS would need to move through the $3.0007 pivot level to support a run at the first major resistance level at $3.2517

Support from the broader market would be needed, however, for EOS to break out from Fridays high $3.2450.

Barring an extended crypto rally, however, resistance at $3.10 would likely leave EOS short of the major resistance levels.

Failure to move through the $3.0007 pivot would bring the first major support level at $2.7563 into play.

Barring another extended sell-off, however, EOS should steer clear of sub-$2.75 levels on the day. The second major support level sits at $2.5053.

First Major Support Level: $2.7563

Pivot Level: $3.0007

First Major Resistance Level: $3.2517

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum slid by 3.93% on Friday. Following on from a 1.48% loss on Thursday, Ethereum ended the day at $379.75.

A range-bound start to the day saw Ethereum rise to an early morning intraday high $398.57 before seeing red.

Falling short of the first major resistance level at $402.54, Ethereum fell to a late afternoon intraday low $362.88.

Ethereum fell through the days major support levels and the 38.2% FIB of $367 before finding support.

Story continues

The partial recovery saw Ethereum move back through the 38.2% FIB and the third major support level at $370.71 to cut the deficit.

The second major support level at $383.74 pinned Ethereum back late in the day.

At the time of writing, Ethereum was down by 0.08% to $379.45. A bearish start to the day saw Ethereum fall from an early morning high $379.76 to a low $377.70.

Ethereum left the major support and resistance levels untested early on.

Ethereum would need to move through the $380.40 pivot to support a run at the first major resistance level at $397.92.

Support from the broader market would be needed, however, for Ethereum to break back through to $390 levels.

Barring an extended crypto rally, the first major resistance level and Fridays high $398.57 should cap any upside.

Failure to move through the $380.40 pivot would bring the 38.2% FIB and the first major support level at $362.23 into play.

Barring another extended sell-off, however, Ethereum should steer clear of sub-$360 levels. The second major support level sits at $344.71.

First Major Support Level: $362.23

Pivot Level: $380.40

First Major Resistance Level: $397.92

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripples XRP slid by 2.87% on Friday. Following a 0.19% gain from Thursday, Ripples XRP ended the day at $0.29427.

A bullish start to the day saw Ripples XRP rally to a late morning intraday high $0.3100 before hitting reverse.

Ripples XRP came up against the first major resistance level at $0.3104 before sliding to a late afternoon intraday low $0.27742.

The reversal saw Ripples XRP fall through the first major support level at $0.2963 and the second major support level at $0.2897.

Late in the day, Ripples XRP briefly revisited $0.2963 levels before easing back into the deep red. The first major resistance level at $0.2963 pinned Ripples XRP back late in the day.

At the time of writing, Ripples XRP was down by 0.37% to $0.29317. A bearish start to the day saw Ripples XRP fall from an early morning high $0.29430 to a low $0.29219.

Ripples XRP left the major support and resistance levels untested early on.

Ripples XRP will need to move through the $0.2939 pivot to support a run at the first major resistance level at $0.3104.

Support from the broader market would be needed, however, for Ripples XRP to break back through to $0.30 levels.

Barring another broad-based crypto rally, the first major resistance level and Fridays high $0.3100 should cap any upside.

In the event of a breakout, the 23.6% FIB of 0.3134 could come into play.

Failure to move through the $0.2939 pivot would bring the first major support level at $0.2778 into play.

Barring another extended crypto sell-off, Ripples XRP should avoid the second major support level at $0.2613.

First Major Support Level: $0.2778

Pivot Level: $0.2939

First Major Resistance Level: $0.3104

23.6% FIB Retracement Level: $0.3638

38.2% FIB Retracement Level: $0.4800

62% FIB Retracement Level: $0.6678

Please let us know what you think in the comments below.

Thanks, Bob

This article was originally posted on FX Empire

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EOS, Ethereum and Ripples XRP Daily Tech Analysis August 8th, 2020 - Yahoo Finance

Ethereum Could Soon Burst Past $400: This Eerie Fractal Shows Why – newsBTC

Ethereum is preparing for another massive breakout, according to a fractal analysis by a cryptocurrency trader. This comes after ETH underwent a strong drop on Friday, responding to a drop in the value of gold and U.S. equities.

One trader shared the chart below on August 8th, indicating that Ethereums recent price action looks like a consolidation pattern in May 2019. The consolidation was followed by a massive pump in 2019, suggesting ETH will do the same.

I dont know why not all of CT is talking about this ridiculously similar looking fractal. Spoiler: this chop led to another massive pump in 2019.

This isnt the only bullish Ethereum price fractal that has recently been shared.

As reported by NewsBTC previously, a fractal analysis by a trader found that Ethereums macro price action looks similar to BTCs price action from the 2014 highs to the beginning of the 2016-2017 bull run. This analysis suggests that ETH will rally past $1,000 in the middle of 2021.

Ethereums fundamentals are also strong, supporting a move to the upside.

Blockchain data firm IntoTheBlock reported on August 7th that the number of daily ETH transactions is reaching highs not seen since the January 2018 all-time high:

As can be seen in the graph above, the number of transactions has been on a consistent uptrend throughout 2020. On July 27, the number of transactions on the #Ethereum network reached a level not seen since January 3rd of 2018.

IntoTheBlock also indicated that Ethereum has other bullish data, including an increase in total addresses and order book data suggesting there are many buyers of ETH at the moment.

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Ethereum Could Soon Burst Past $400: This Eerie Fractal Shows Why - newsBTC

ChainLink (LINK) Inches Closer to 100x in Returns Since ICO – Ethereum World News

In summary:

The digital asset of ChainLink (LINK) has once again exceeded expectations by breaking away from the influence of the brief crypto pullback only 24 hours ago as a result of Bitcoin dipping to $11,300 levels. During the latter event, ChainLink only dipped to as low as $9 and soon continued on its interstellar mission above $10. At the time of writing, LINK has printed an all-time high value of around $10.77 Binance rate.

Going back in time to September 2017 during ChainLinks ICO, we find that the price per LINK on offer during the crowd sale was $0.11. Doing the math and using the new all-time high value of $10.77, this translates to a return on investment of 97%. This, in turn, means that for every $100 spent during the ICO period, investors are in profit to the amount of $9,700.

Fur ther checking ChainLinks current ROI on Coincodex.com

Additionally, LINK marines are very much confident regarding the fundamentals governing the upward trajectory of ChainLink. The LINK marines have brushed off a report by Zeus Capital that calls the project vaporware and warns that ChainLink will fall to as low as $0.07.

Some LINK marines have gone as far as declaring that they will start taking profits when the digital asset hits $100. Below is one tweet that demonstrates investor confidence in ChainLink.

As earlier observed, the LINK/USDT chart continues on its bullish trajectory. With each all-time high that LINK sets, the digital asset provides areas of interest for possible support zones should LINK decide to correct.

However, given the current bullish momentum and possible FOMO surrounding LINK, the digital asset has a high probability of first testing $12 before any prospects of a correction.

As with all analyses of ChainLink, traders and investors are advised to use stop losses as well as low leverage to protect trading capital. Caution is also advised when going long on a parabolic chart such as ChainLinks.

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ChainLink (LINK) Inches Closer to 100x in Returns Since ICO - Ethereum World News

Ethereum (ETH) Up $0.39 On 4 Hour Chart, Fares the Worst Out of Top Cryptos to Start the Day; Entered Today Down 3.92% – CFDTrading

Ethereum 4 Hour Price Update

Updated August 09, 2020 07:18 AM GMT (03:18 AM EST)

Ethereum closed the previous 4 hours down 0.06% ($0.25); this denotes the 2nd candle in a row a decrease has occurred. Ethereum outperformed all 5 assets in the Top Cryptos asset class since the previous 4 hours. Congrats to its holders!

The back and forth price flow continues for Ethereum, which started today off at 397.56 US dollars, up 4.74% ($17.99) from the previous day. This move happened on lower volume, as yesterdays volume was down 51.14% from the day before and down 64.66% from the same day the week before. On a relative basis, the previous day was pretty good: Ethereum bested all 5 of the assets in the Top Cryptos class Here is a daily price chart of Ethereum.

Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. Or to view things another way, note that out of the past 30 days Ethereums price has gone up 19 them.

For laughs, fights, or genuinely useful information, lets see what the most popular tweets pertaining to Ethereum for the past day were:

Ethereum is *5 years old*For that whole time everyone was so busy trying to get rich by creating new ways to dump on dumb money that no-one bothered to make a way to easily verify the total supply of $ETH and that is why many have ethical issues with $ETH (and others)

@WhalePanda @wullon @LucLammers @adam3us @Excellion @VitalikButerin I wrote this book and continue to study Ethereum because I think it is interesting, from a technical perspective. This interest has cost me money and some goodwill from BTC maxis, but I continue despite these costs. I am motivated by intellectual curiosity.

@WhalePanda @wullon @LucLammers @adam3us @Excellion @VitalikButerin I wont get into this debate, but your assertion that Im motivated by book sales and conferences is easily disproved. The income from Mastering Ethereum is tiny and well below minimum wage considering the effort. Ive spoken at 2 conferences for Ethereum, both free.

For a longer news piece related to ETH thats been generating discussion, check out:

$MTXLT on Ethereum: Roadmap. We are constantly looking for ways to | by Christian Eichinger | tixlcurrency | Aug, 2020 | Medium

As an ERC-20 token, MTXLT can also take advantage of the benefits of Uniswap.ERC-20 tokens provide more opportunities to be included in staking programs and thus achieve added visibility for the project.Smart contracts for MTXLT are also made possible with an ERC-20 token.In addition to our own MTXLT token and ETH, other ERC-20 tokens can be sent on the Autobahn Network.

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Ethereum (ETH) Up $0.39 On 4 Hour Chart, Fares the Worst Out of Top Cryptos to Start the Day; Entered Today Down 3.92% - CFDTrading

Ethereum (ETH) Up $9.57 On 4 Hour Chart, Underperforms All Top Cryptos to Start the Day; Entered Today Down For the 2nd Day In A Row – CFDTrading

Ethereum 4 Hour Price Update

Updated August 08, 2020 11:18 AM GMT (07:18 AM EST)

Ethereum closed the previous 4 hours up 2.51% ($9.57); this denotes the 2nd candle in a row it has gone up. Ethereum outperformed all 5 assets in the Top Cryptos asset class since the previous 4 hours. Congrats to its holders!

Ethereum came into today down 3.92% ($15.5) from the open of yesterday, marking the 2nd day in a row a decrease has occurred. The price move occurred on stronger volume; specifically, yesterdays volume was up 59.66% from the day prior, and up 13.99% from the same day the week before. On a relative basis, Ethereum was the worst performer out of all 5 of the assets in the Top Cryptos asset class during yesterday. Below is a daily price chart of Ethereum.

Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. For another vantage point, consider that Ethereums price has gone up 10 of the previous 14 trading days.

For laughs, fights, or genuinely useful information, lets see what the most popular tweets pertaining to Ethereum for the past day were:

@Narodism @musalbas @MPtherealMVP @NickSzabo4 So you dislike the aesthetics of some people in the ethereum community (btw Ive never done a burner party, LSD or a sex orgy) therefore ethereum has lost the plot? If I wanted to I could make similar caricatures about the whole rah rah Im manly because I eat steak thing.

I follow a lot of Bitcoin accounts and a lot of Ethereum accounts. Im noticing that currently Ethereum accounts are a bit stronger than Bitcoin accounts. More articulate, more well-versed with the other sides arguments, better at making the other side seem less knowledgeable.

My @discord account was suspended this morning because I sent too many private messages to people that wanted their @poapxyz to recall the @ethereum medalla testnet launch. Please help me making this visible to the discord support team so they know Im no spammer

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Ethereum (ETH) Up $9.57 On 4 Hour Chart, Underperforms All Top Cryptos to Start the Day; Entered Today Down For the 2nd Day In A Row - CFDTrading

Ethereum 2.0 Testnet Medalla Goes Live With 20,000 Validators – CoinDesk – CoinDesk

  1. Ethereum 2.0 Testnet Medalla Goes Live With 20,000 Validators - CoinDesk  CoinDesk
  2. Ethereum 2.0 Devs Discuss Medalla Issues as Network Stabilizes  Cointelegraph
  3. 90% of Ethereum wallets are now in profit  Nairametrics
  4. Over 90% of Ethereum holders are in profit as prices surge  Decrypt
  5. Ethereum transaction volume surpasses $12 billion amid DeFi boom  Invezz
  6. View Full Coverage on Google News

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Ethereum 2.0 Testnet Medalla Goes Live With 20,000 Validators - CoinDesk - CoinDesk

Following Todays Action Will ETH Finally Close Above $400? (Ethereum Price Analysis) – CryptoPotato

Key Support Levels: $370, $350, $321.Key Resistance Levels: $400, $408, $420.

Ethereum has seen a strong 8% price increase over the past seven days of trading, which allowed it to reach as high as $408 (1.618 Fib Extension) earlier in the week. Since then, ETH has rolled over and dropped into the support at $380, where it rebounded today.

The bulls have now set their targets to break $400 again to push higher. The last time that Etheruem managed to close above $400 was during August of 2018 exactly two years ago.

Looking ahead, the first level of resistance is expected at $400. This is immediately followed by resistance at $408 (1.618 Fib Extension). If the buyers can continue to drive Ethereum higher, the following targets are expected at $420, $445, and $463.

On the other side, the first level of strong support is expected at $370 (.236 Fib Retracement). This is followed by support at $343 (.382 Fib Retracement), $321 (.5 FIb Retracement), and $300 (.618 Fib Retracement).

The RSI has dropped lower from overbought conditions as the buyers take a break before regrouping. So long as it can remain above 50, the momentum will remain in the bulls favor.

Key Support Levels: 0.0326 BTC, 0.0317 BTC, 0.031 BTC.Key Resistance Levels: 0.0337 BTC, 0.035 BTC, 0.0356 BTC.

Etheruem also performed very well in the first week of August as it surged from 0.03 BTC to reach as high as 0.035 BTC. From there, Ethereum has dropped lower as it falls into the 0.0326 BTC level, where support is provided by a .236 Fib Retracement.

The coin rebounded from this support today as the bulls begin the push back toward the 0.035 BTC level.

Looking ahead, if the buyers do push higher, the first level of resistance is located at 0.0337 BTC (March 2019 support). This is followed with resistance at 0.035 BTC, 0.0356 BTC (1.414 Fib Extension), and 0.0367 BTC

On the other side, the first level of support lies at 0.0326 BTC (.236 Fib Retracement). Beneath this, support lies at 0.0317 BTC, 0.031 BTC (.382 Fib Retracement), and 0.030 BTC (.5 Fib Retracement).

Likewise, the RSI has also dipped lower but remains above the 50 line, which indicates that the bulls are still in control of the market momentum.

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

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Following Todays Action Will ETH Finally Close Above $400? (Ethereum Price Analysis) - CryptoPotato

Ethereum (ETH) Down $1.67 in Last 4 Hours, Underperforms All Top Cryptos to Start the Day; But Still in an Uptrend Over Past 14 Days – CFDTrading

Ethereum 4 Hour Price Update

Updated August 08, 2020 11:19 PM GMT (07:19 PM EST)

The choppiness in the recent four-hour candle price action of Ethereum continues; to start the current 4 hour candle, it came in at a price of 390.06 US dollars, up 0.1% ($0.39) since the previous 4 hours. Relative to other instruments in the Top Cryptos asset class, Ethereum ranked 4th since the previous 4 hours in terms of percentage price change.

Ethereum closed the previous day down 3.92% ($15.5); this denotes the 2nd day in a row a decrease has occurred. The price move occurred on stronger volume; specifically, yesterdays volume was up 59.66% from the day prior, and up 13.99% from the same day the week before. Those trading within the Top Cryptos asset class should know that Ethereum was the worst performer in the class during the previous day. Here is a daily price chart of Ethereum.

The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. Or to view things another way, note that out of the past 14 days Ethereums price has gone up 10 them.

For laughs, fights, or genuinely useful information, lets see what the most popular tweets pertaining to Ethereum for the past day were:

@Narodism @musalbas @MPtherealMVP @NickSzabo4 So you dislike the aesthetics of some people in the ethereum community (btw Ive never done a burner party, LSD or a sex orgy) therefore ethereum has lost the plot? If I wanted to I could make similar caricatures about the whole rah rah Im manly because I eat steak thing.

I follow a lot of Bitcoin accounts and a lot of Ethereum accounts. Im noticing that currently Ethereum accounts are a bit stronger than Bitcoin accounts. More articulate, more well-versed with the other sides arguments, better at making the other side seem less knowledgeable.

My @discord account was suspended this morning because I sent too many private messages to people that wanted their @poapxyz to recall the @ethereum medalla testnet launch. Please help me making this visible to the discord support team so they know Im no spammer

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Ethereum (ETH) Down $1.67 in Last 4 Hours, Underperforms All Top Cryptos to Start the Day; But Still in an Uptrend Over Past 14 Days - CFDTrading

Regulated Ethereum Futures Coming – Somag News

Open interest on Ethereum futures rose to $ 1.46 billion. The new ATH came a few days after Bitcoin futures had a similar success. On August 1, the open interest rate rose to $ 5.58 billion, the highest point since mid-February, just before the crypto market continued a major correction.

Malta-based cryptocurrency exchange OKEx leads the way with contracts worth $ 321.06 million.

OKEXs competitor from Singapore, Huobi, is in second place. The open interest rate for Ethereum contracts currently stands at $ 308.55 million, following OKEx with a very thin margin, with a margin of 0.8 percent.

Together with BitMEX, OKEX and Huobi are responsible for 61.64 percent of all market activities for Ethereum futures.

FTX and Binance are in fourth and fourth place, respectively.

In the options section, ETHs open interest has also increased six-fold over the past three months, making up 90 percent of all positions on the unregulated Dutch exchange Deribit.

As the cryptocurrency space matures, Tim McCourt of CME Group claims that more investors will flock to trusted domains:

When it enters the cryptocurrency space with more sophisticated contributors, the volume will inevitably shift towards safer, more reliable areas.

Ether futures are said to be launched within the next six months.

New York-based ErisX launched Ether futures in March, but CME Group has not yet ventured into the second largest cryptocurrency.

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Regulated Ethereum Futures Coming - Somag News

Five Years Since Launch, Is Ethereum Creating a New Boom? – Cointelegraph

The Ethereum network has just turned five years old. Although the project was first announced at the North American Bitcoin Conference in January 2014, its genesis block was only mined on July 30, 2015. Since then, Ether (ETH) has become the dominating altcoin in market capitalization, popularity and network value settlement, having even surpassed Bitcoin in the latter.

Ethereum was created with myriad possibilities in sight, allowing for smart contracts, powerful tokenization, complex decentralized applications and decentralized fundraising campaigns. The latter of these became extremely popular in 2017, as initial coin offerings took over the crypto space and amassed incredible gains for participants.

Ether became the primary funding mechanism for ICO projects. As said projects and their underlying ERC-20 tokens left the ICO stage, speculation for their tokens grew, and so did the price of Ether, whose price reached an all-time high of $1,412 on Jan. 10, 2018. Although currently far from that number, ETHs price reached a 2020 record of almost $357 on Aug. 1.

Although ICOs helped take the cryptosphere to new heights, the hype was short-lived, and the entire crypto market came crashing down at the start of 2018. Shortly before, the United States Securities and Exchange Commission had announced that ICOs were considered security offerings and began a crackdown to protect investors.

Now, some worry that Ethereum is heading down a similar path like in 2018 with the growth of DeFi. While regulatory oversight has pushed for improvements in the crypto ecosystem, in the short-term, it can have devastating consequences like the loss of funds for investors and lawsuits for the project operators.

While price speculation seems to be rampant, its largely known that decentralized finances actual financial impact and liquidity are rather insignificant. With Ethereum recently becoming the biggest blockchain in terms value settled, how much of this activity in Ether can actually be attributed to DeFi?

ConsenSys estimates that DeFi protocols collectively hit an all-time high of 3.3 million Ether locked in protocols in the second quarter of 2020. Messari has suggested that the Ethereum blockchain settles around $2.5 billion every day. When comparing DeFi to the actual crypto market, its also easy to see that DeFi is still but a drop in the ocean, smaller than the market cap of XRP and Bitcoin Cash (BCH), and it makes up only 1.5% of the entire cryptocurrency market.

DeFi sector vs. BCH and XRP - Market capitalization. Source: Messari

While funding rates for DeFi protocols are dwarfed by the 2017-era ICO-based funding campaigns, it could be concerning that a handful of DeFi tokens have rallied thousands of percent in a short period of time. For example, Aave (LEND) rose 7,300% from $0.0046 to $0.344, and Compounds (COMP) price quadrupled in its first week of trading in June. In fact, more than 10 other DeFi-related tokens have rallied by over 100% in 2020. While impressive, this still pales in comparison to the return on investment provided by ICOs in 2017.

While DeFi has reached milestones, such as $4 billion in locked funds, the sheer size of investment obtained by DeFi protocols is way smaller than what ICOs gathered. Still, Ethereum co-founder Vitalik Buterin seems worried that people may be underestimating the risks associated with these protocols, which have been exploited by hackers in the past.

While another bubble is not ideal, it may be an inevitable part of the current crypto innovation cycle. Projects and concepts are prone to be hyped out of proportion before more organic adoption and investment comes in. This is exactly what happened with ICOs, security token offerings, Bitcoin and altcoins. As the DeFi sector continues to rapidly expand, its biggest challenge may come in the form of future regulation, much like it did with ICOs.

While only time will tell if DeFi is seeing a bubble phase, there are certainly other reasons for why Ether is outperforming Bitcoin, like becoming the basis for stablecoin transfers. According to ETH Gas Station, Tether (USDT) is the biggest gas spender on the network and continues to grow. While Ethereum did overtake Bitcoin in network activity, it was mostly due to stablecoin transfers, which were themselves overwhelmingly fueled by inter-exchange settlements.

This year, positive steps like the issuance of real-life securities within the blockchain and $1 billion in Ether futures volume were also reached. These factors contributed to Ethereums growing adoption in these last five years, but they also point to a looming dead end when it comes to scalability and congestion. However, Ethereum 2.0 staking has finally begun testing, and this brings hope for a new and improved network.

Related: Ethereum 2.0 Likely to Affect DeFi and DApps With PoS Introduction

As time goes on, its likely that DeFi will continue to grow even if it does suffer some setbacks in the short term. This means that the Ethereum network will likely continue to ride on the back of that success.

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Five Years Since Launch, Is Ethereum Creating a New Boom? - Cointelegraph

EOS, Ethereum and Ripple’s XRP Daily Tech Analysis August 8th, 2020 – FX Empire

For the day ahead

Ethereum would need to move through the $380.40 pivot to support a run at the first major resistance level at $397.92.

Support from the broader market would be needed, however, for Ethereum to break back through to $390 levels.

Barring an extended crypto rally, the first major resistance level and Fridays high $398.57 should cap any upside.

Failure to move through the $380.40 pivot would bring the 38.2% FIB and the first major support level at $362.23 into play.

Barring another extended sell-off, however, Ethereum should steer clear of sub-$360 levels. The second major support level sits at $344.71.

First Major Support Level: $362.23

Pivot Level: $380.40

First Major Resistance Level: $397.92

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripples XRP slid by 2.87% on Friday. Following a 0.19% gain from Thursday, Ripples XRP ended the day at $0.29427.

A bullish start to the day saw Ripples XRP rally to a late morning intraday high $0.3100 before hitting reverse.

Ripples XRP came up against the first major resistance level at $0.3104 before sliding to a late afternoon intraday low $0.27742.

The reversal saw Ripples XRP fall through the first major support level at $0.2963 and the second major support level at $0.2897.

Late in the day, Ripples XRP briefly revisited $0.2963 levels before easing back into the deep red. The first major resistance level at $0.2963 pinned Ripples XRP back late in the day.

At the time of writing, Ripples XRP was down by 0.37% to $0.29317. A bearish start to the day saw Ripples XRP fall from an early morning high $0.29430 to a low $0.29219.

Ripples XRP left the major support and resistance levels untested early on.

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EOS, Ethereum and Ripple's XRP Daily Tech Analysis August 8th, 2020 - FX Empire

Bloomberg: Ethereums Rise is Speculative While Bitcoins Price Is Based on Fundamentals – Cointelegraph

In its August crypto outlook, Bloomberg remained unimpressed with Ethereum, calling its rally speculative. The publication contends, however, that Bitcoins (BTC) rise is based on solid ground:

Ethereum has extended last year's highs and leaped to one of the top-performing major crypto assets in 2020, but we view its rally as more speculative vs. the favorable demand vs. supply conditions supporting Bitcoin.

The report points out that Ethereum faces plenty of competition from similar crypto platforms and about 6,000 tradable coins. On the other hand, Bloomberg has remained consistently bullish about Bitcoin, noting its gold-like qualities and increased institutional demand.

The success of the DeFi space has led to the appreciation of Ether, with some comparing it to the ICO boom. As more smart contract platforms mature, competition will only get tougher. When it comes to the world of professional investors, Ether does not have a clear selling point like Bitcoins limited supply.

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Bloomberg: Ethereums Rise is Speculative While Bitcoins Price Is Based on Fundamentals - Cointelegraph

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Bitcoin may extend the recovery once Gold resumes the rally – FXStreet

Bitcoin has been creeping higher towards $12,000, ETH struggles at $400, while some altcoins rush forward to new highs. Thus, Bitcoin Cash and Monero gained 10% in the recent 24 hours, while EOS increased by 6%. The total capitalization of all digital assets in circulation is registered at $359 billion, while an average daily trading volume is set at $91 billion.Meanwhile, gold retreated from the recent high and broke the longest bullish streak since 2006 despite the further escalation of US-China spat about Chinese-owned TikTok and WeChat apps. The U.S. residents will be prohibited by having business with these companies in 45 days from now as President Donald Trump signed executive orders to that effect.The precious metal gained over 35% since the start of the year, which is the biggest annual growth in more that forty years. Moreover, Bank of America analysts expect further gains after a short-lived correction. They believe that the price may hit $3,000 an ounce in 18 months.Once gold resumes the upside momentum, Bitcoin may follow the lead.

ETH/BTC settled at $0.0335 after a bearish correction from a recent high reached at at $0.03528. At the time of writing, the cross is changing hands at $0.0339, unchanged both on a day-to-day basis and since the beginning of Friday. The RSI on a daily chart stays flat on a border of overbought territory, which means that the cross may stay sidelined during the nearest sessions. The local support created by the previous recovery high of $0.03260 and the upper line of the weekly Bollinger Band at $0.03250. If it is cleared, the sell-off may be extended towards a psychological $0.0300. On the upside, once the recent high is cleared, $0.04000 will come into view.

Above the current price, the first resistance level is at 0.03500, then the second at 0.04000 and the third one at 0.0450.

Below the current price, the first support level is at 0.0325, then the second at 0.03100 and the third one at 0.0300.

Bitcoin extended the recovery jumped above $11,900 during early Asian hours. Once this local resistance is cleared, the upside will be extended towards psychological $12,000. A sustainable move above this area is needed for the upside to gain traction. The next resistance is created by the upper line of the daily Bollinger Band at $12,500. The coin has gained 1% in the recent 24 hours and stayed unchanged since the start of the day. A sustainable move above $12,000 will bring more bulls to the market and increase the chances that $13,000 is reached in the nearest future. Meanwhile, the RSI on a daily chart stays flat on the border of the overbought territory. It means that the price may spend some time in a range before the recovery is resumed.

Above the current price, the first resistance level is at $12,000, then the second at $12,500 and the third one at $13,000.

Below the current price, the first support level is at $11,350, then the second at $11,000 and the third one at $10,500.

ETH/USD stays in a tight range after several unsuccessful attempts to settle above $400.00. Once it is cleared, the recovery may be extended towards $415.00, which is the highest level of the recent bullish wave. Once this happens, the next resistance of $430 will come into focus. this barrier is reinforced by the upper line of the daily Bollinger Band. On the downside, the first support comes at $360. It is followed by the middle line of the daily Bollinger Band at $320.00 followed by $300.00.

Above the current price, the first resistance level is at $400, then the second at $430 and the third one at $500.

Below the current price, the first support level is at $360, then the second at $320 and the third one at $300.

XRP/USD extended the recovery and hit the intraday high of $0.3071. The next strong resistance comes at the psychological $0.3100. Once it is out of the way, the upside is likely to gain traction with the next focus on the recent high of $0.3250, followed by the upper line of the daily Bollinger Band at $0.3320. On the downside, $0.3000 is the key support for the con in the short run. It is likely to slo down the sell-off; however, once is is broken, the downside momentum may be extended to $0.2900 and $0.2840, which is the lowest level of the week.

Above the current price, the first resistance level is at $0.3100, then the second at $0.3250 and the third one at $0.3320.

Below the current price, the first level of support is at $0.3000, then the second at $0.2900 and the third one at $0.2840.

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Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Bitcoin may extend the recovery once Gold resumes the rally - FXStreet

Ethereum (ETH) Up $8.22 On 4 Hour Chart, Fares the Worst Out of Top Cryptos to Start the Day; But Still in an Uptrend Over Past 14 Days – CFDTrading

Ethereum 4 Hour Price Update

Updated August 08, 2020 11:18 AM GMT (07:18 AM EST)

Ethereum closed the previous 4 hours up 2.51% ($9.57); this denotes the 2nd candle in a row it has gone up. Ethereum outperformed all 5 assets in the Top Cryptos asset class since the previous 4 hours. Congrats to its holders!

Ethereum came into today down 3.92% ($15.5) from the open of yesterday, marking the 2nd day in a row a decrease has occurred. The price move occurred on stronger volume; specifically, yesterdays volume was up 59.66% from the day prior, and up 13.99% from the same day the week before. On a relative basis, Ethereum was the worst performer out of all 5 of the assets in the Top Cryptos asset class during yesterday. Below is a daily price chart of Ethereum.

Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. For another vantage point, consider that Ethereums price has gone up 10 of the previous 14 trading days.

For laughs, fights, or genuinely useful information, lets see what the most popular tweets pertaining to Ethereum for the past day were:

@Narodism @musalbas @MPtherealMVP @NickSzabo4 So you dislike the aesthetics of some people in the ethereum community (btw Ive never done a burner party, LSD or a sex orgy) therefore ethereum has lost the plot? If I wanted to I could make similar caricatures about the whole rah rah Im manly because I eat steak thing.

I follow a lot of Bitcoin accounts and a lot of Ethereum accounts. Im noticing that currently Ethereum accounts are a bit stronger than Bitcoin accounts. More articulate, more well-versed with the other sides arguments, better at making the other side seem less knowledgeable.

My @discord account was suspended this morning because I sent too many private messages to people that wanted their @poapxyz to recall the @ethereum medalla testnet launch. Please help me making this visible to the discord support team so they know Im no spammer

Link:

Ethereum (ETH) Up $8.22 On 4 Hour Chart, Fares the Worst Out of Top Cryptos to Start the Day; But Still in an Uptrend Over Past 14 Days - CFDTrading

EOS, Ethereum and Ripple’s XRP Daily Tech Analysis August 7th, 2020 – FX Empire

For the day ahead

Ethereum would need to move through the $396.77 pivot to support a run at the first major resistance level at $402.54.

Support from the broader market would be needed, however, for Ethereum to break back through to $400 levels.

Barring an extended crypto rally, the first major resistance level should cap any upside.

Failure to move through the $396.77 pivot would bring the first major support level at $389.51 into play.

Barring an extended sell-off, however, Ethereum should continue to steer clear of the second major support level at $383.74.

First Major Support Level: $389.51

Pivot Level: $396.77

First Major Resistance Level: $402.54

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripples XRP rose by 0.19% on Thursday. Following on from a 0.38% gain on Wednesday, Ripples XRP ended the day at $0.30296.

A bearish start to the day saw Ripples XRP fall to an early morning intraday low $0.29712 before finding support.

Steering clear of the first major support level at $0.2929, Ripples XRP rose to a mid-afternoon intraday high $0.3112.

Ripples XRP broke through the first major resistance level at $0.3099 before falling back to sub-$0.30 levels.

Finding late support, Ripples XRP moved back through to $0.3029 levels to deliver the upside on the day.

At the time of writing, Ripples XRP was down by 0.18% to $0.3024. A bearish start to the day saw Ripples XRP fall from an early morning high $0.30303 to a low $0.30171.

Ripples XRP left the major support and resistance levels untested early on.

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EOS, Ethereum and Ripple's XRP Daily Tech Analysis August 7th, 2020 - FX Empire

Ethereum (ETH) Down $9.42 Over Past 4 Hours, Fares the Worst Out of Top Cryptos to Start the Day; 3 Day Up Streak Snapped – CFDTrading

Ethereum 4 Hour Price Update

Updated August 07, 2020 07:19 PM GMT (03:19 PM EST)

Ethereum is down 2.44% ($9.42) since the last 4 hour candle, marking the 2nd candle in a row a decline has happened. Out of the 5 instruments in the Top Cryptos asset class, Ethereum ended up ranking 2nd for the four-hour candle in terms of price change relative to the last 4 hour candle.

Ethereum is down 1.51% ($6.05) since the previous day, marking a reversal from the day prior and the end of a 3 day positive run. This move happened on lower volume, as yesterdays volume was down 33.61% from the day before and down 14.68% from the same day the week before. On a relative basis, Ethereum was the worst performer out of all 5 of the assets in the Top Cryptos asset class during the previous day. Lets take a look at the daily price chart of Ethereum.

Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. For another vantage point, consider that Ethereums price has gone up 19 of the previous 30 trading days.

Behold! Here are the top tweets related to Ethereum:

@Narodism @musalbas @MPtherealMVP @NickSzabo4 So you dislike the aesthetics of some people in the ethereum community (btw Ive never done a burner party, LSD or a sex orgy) therefore ethereum has lost the plot? If I wanted to I could make similar caricatures about the whole rah rah Im manly because I eat steak thing.

I follow a lot of Bitcoin accounts and a lot of Ethereum accounts. Im noticing that currently Ethereum accounts are a bit stronger than Bitcoin accounts. More articulate, more well-versed with the other sides arguments, better at making the other side seem less knowledgeable.

My @discord account was suspended this morning because I sent too many private messages to people that wanted their @poapxyz to recall the @ethereum medalla testnet launch. Please help me making this visible to the discord support team so they know Im no spammer

As for a news story related to Ethereum getting some buzz:

Elrond Interoperability with Ethereum & Compatible Chains via xDAI Token BridgeElrond Network

Were excited to announce our partnership with the xDAI Stable Chain to make their Arbitrary Message Bridge compatible with Elrond.This integration will enable token transfers between the Elrond mainnet and Ethereum compatible chains, as well as smart contract calls between the different chains.

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Ethereum (ETH) Down $9.42 Over Past 4 Hours, Fares the Worst Out of Top Cryptos to Start the Day; 3 Day Up Streak Snapped - CFDTrading

MVIS and CryptoCompare Launch Institutional Ethereum and Bitcoin WVAP Index – CryptoGlobe

MV Index Solutions GmbH (MVIS) and CryptoCompare have announced the launch of two new professional-grade indices involving bitcoin and ethereum.

According to the official press release, MVIS and leading digital asset data aggregator CryptoCompare have partnered to launch the MVIS CryptoCompare Institutional Ethereum Index (MVIETH) and the MVIS CryptoCompare Bitcoin VWAP Close Index (MVBTCV).

The institutional ethereum index was designed to measure the performance of digital asset portfolios invested in ethereum, with the price based upon selected exchanges. The MVBTCV index measures the performance of portfolios invested in bitcoin, with the closing value based upon an hourly volume-weighted average price (VWAP). VWAP provides investors with a trading benchmark for the average price BTC has traded at over the course of the time period.

Charles Hayter, CEO and co-founder of CryptoCompare, said the new indices reflected the growing demand for regulated digital asset investment products.

He continued,

The indices will provide investors with a transparent benchmark to measure the performance of their Bitcoin and Ethereum exposure.

MVIS chief operating officer (COO) Thomas Kettner said the new indices would serve as a complement to the companys existing products and help investors combat potential market manipulation.

Featured Image Credit: Photo via Pixabay.com

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MVIS and CryptoCompare Launch Institutional Ethereum and Bitcoin WVAP Index - CryptoGlobe