Ethereum Miners Earned Record $830M in January – CoinDesk – Coindesk

Ethereum miners earned a record $830 million in January as network activity, fees and ethers price all surged.

Monthly revenue has not reached this level since the previous record from January 2018 near ethers previous all-time high, according to data estimates by CoinDesk.

Revenue estimates assume Ethereum miners sell their ether immediately.

On-chain data reviewed by CoinDesk, however, shows network fees in January 2018 only represented 9% of monthly revenue. Last month, nearly 40% of revenue came from network fees, totalling more than $504 million in revenue.

Notably, fees consistently represented a low, single-digit percentage of monthly revenue every month from ethers previous record high until May 2020, when the Ethereum-centric decentralized finance (DeFi) craze gained momentum.

Since May, fees have represented an average of 30% of miner revenue per month.

Growth in fee revenue isnt surprising given the networks consistently high transaction costs. Average transaction fees priced in dollars hit record highs on Jan. 11 passing $19, according to data from Blockchair. The previous transaction fee record was set just five months ago at $10.33 per average transaction on Sept. 1 during the peak of DeFis red-hot summer.

Eager to not miss out on soaring revenue, mining activity has seen a marked increase, with the networks hashrate following in step and reaching an all-time high Tuesday above 360,000 gigahashes per second (GH/s), per Etherscan. Mining difficulty has followed suit, recently setting a record high above 4,600 terahashes per second (TH/s) and still climbing.

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Ethereum Miners Earned Record $830M in January - CoinDesk - Coindesk

Ethereum, Litecoin, and Ripples XRP Daily Tech Analysis February 6th, 2021 – Yahoo Finance

Ethereum

Ethereum rallied by 7.75% on Friday. Reversing a 4.26% slide from Thursday, Ethereum ended the day at $1,721.06.

It was a mixed start to the day. Ethereum fell to an early morning intraday low $1,589.17 before making a move.

Steering clear of the first major support level at $1,536, Ethereum rallied to a late afternoon intraday high and a new swing hi $1,763.93.

Ethereum broke through the first major resistance level at $1,679 and the second major resistance level at $1,761.

A late pullback saw Ethereum fall back through the second major resistance level to $1,680 levels before wrapping up the day at $1,721 levels.

At the time of writing, Ethereum was up by 0.53% to $1,730.23. A mixed start to the day saw Ethereum fall to an early morning low $1,720.01 before rising to a high $1,739.60.

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

Ethereum would need to avoid a fall through the pivot level at $1,691 to support a run at the first major resistance level at $1,794.

Support from the broader market would be needed, however, for Ethereum to break out from Fridays swing high $1,763.93.

Barring an extended crypto rally, the first major resistance level and resistance at $1,800 would likely cap any upside.

In the event of an extended crypto rally, Ethereum could test resistance at $1,950 before any pullback. The second major resistance level sits at $1,866.

Failure to avoid a fall through the $1,691 pivot would bring the first major support level at $1,619 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$1,600 levels. The second major support level sits at $1,517.

First Major Support Level: $1,619

Pivot Level: $1,691

First Major Resistance Level: $1,794

23.6% FIB Retracement Level: $1,367

38.2% FIB Retracement Level: $1,121

62% FIB Retracement Level: $724

Litecoin rallied by 6.82% on Friday. Partially reversing a 7.06% slide from Thursday, Litecoin ended the day at $155.15.

Story continues

It was also a mixed start to the day. Litecoin fell to an early morning intraday low $143.63 before making a move.

Steering clear of the first major support level at $137.96, Litecoin rallied to an early afternoon intraday high $156.99.

Litecoin broke through the 23.6% FIB of $148 and the first major resistance level at $155.79 before hitting reverse.

The reversal saw Litecoin fall back to sub-$150 levels before closing out the day at $155 levels.

While failing to break back through the first major resistance level, the 23.6% FIB limited the downside late on.

At the time of writing, Litecoin was up by 0.29% to $155.60. A mixed start to the day saw Litecoin fall to an early morning low $154.91 before striking a high $156.00.

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

Litecoin would need to avoid a fall through the $151.92 pivot level to support a run at the first major resistance level at $160.22.

Support from the broader market would be needed, however, for Litecoin to break out from Fridays high $156.99.

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

In the event of an extended breakout, Litecoin could test resistance at $170 before any pullback. The second major resistance level sits at $165.28.

Failure to avoid a fall through the $151.92 pivot level would bring the 23.6% FIB of $148 and the first major support level at $146.86 into play.

Barring an extended sell-off, Litecoin should steer clear of sub-$140 levels. The second major support level sits at $138.56.

First Major Support Level: $146.86

Pivot Level: $151.92

First Major Resistance Level: $160.22

23.6% FIB Retracement Level: $148

38.2% FIB Retracement Level: $125

62% FIB Retracement Level: $87

Ripples XRP rose by 1.49% on Friday. Following a 12.12% jump on Thursday, Ripples XRP ended the day at $0.45276.

A bullish start to the day saw Ripples XRP rise to an early morning intraday high $0.47230 before hitting reverse.

Falling short of the first major resistance level at $0.4917, Ripples XRP slid to a late morning intraday low $0.42657.

Steering well clear of the 38.2% FIB of $0.4070 and the first major support level at $0.3905, Ripples XRP revisited $0.46 levels before easing back.

At the time of writing, Ripples XRP was down by 0.01% to $0.45273. A mixed start to the day saw Ripples XRP rise to an early morning high $0.45688 before falling to a low $0.44863.

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

Ripples XRP will need to avoid a fall back through the $0.4505 pivot level to bring the first major resistance level at $0.4745 into play.

Support from the broader market would be needed, however, for Ripples XRP to break back through to $0.47 levels.

Barring another extended crypto rally, the first major resistance level and Fridays high $0.4723 would likely cap any upside.

In the event of an extended rally, Ripples XRP could the second major resistance level at $0.4963 and resistance at $0.50.

Failure to avoid a fall back through the $0.4505 pivot would bring the first major resistance level at $0.4288 into play.

Barring an extended sell-off, Ripples XRP should steer clear of sub-$0.40 levels. The 38.2% FIB of $0.4070 and the second major support level at $0.4048 should limit the downside.

First Major Support Level: $0.4288

Pivot Level: $0.4505

First Major Resistance Level: $0.4745

23.6% FIB Retracement Level: $0.6274

38.2% FIB Retracement Level: $0.5285

62% FIB Retracement Level: $0.3687

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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Ethereum, Litecoin, and Ripples XRP Daily Tech Analysis February 6th, 2021 - Yahoo Finance

Meet the Father of the Father of Ethereum – Decrypt

In brief

The jailing of Russian opposition leader Alexei Navalny last month unleashed a tide of protest around the world. But it touched an especially painful splinter at the heart of one prominent Russian emigre, Dmitry Buterin, who resolved to do something about the tragedy.

Buterin is the father of Ethereum creator Vitalik Buterin, whose revolutionary blockchain platform reached a record market cap of $196 billion lastweek. Ethereums decentralized, transparent, censorship-resistant ethos is the very antithesis of the world Buterin senior left behind.

So last week he tweeted a heartfelt plea to his followers to retweet Navalnys video and asked the Ethereum community in Russia to set up donations toward the cause. The video details the widespread and systematic corruption perpetrated by Russian President Vladimir Putin and his cronies, over twenty years.

Dmitry Buterin loathes Putin: He's KGB, and those are the people who tortured and killed millions of Russians and Ukrainians. Can we trust him? he said recently, during a call with Decrypt.

These days, his home is in the heart of Toronto, and has two young daughters who are Vitaliks halfsisters. The citys CNN tower was visible in the background, as he spoke about his Russian heritage, his approach to raising the boy who would create Ethereum, and whyunlike in 2017, when ETH reached its previous all-time-highthis time, its different.

The man who raised Ethereums genius inventor has myriad interests, which span from spirituality to software, aging, parenting, and of course Putin. He has strong views on all of it, though his Twitter personahe has 13,000 followerstends to come off as warm and fuzzy and light-hearted, even when he gently spars with Twitter troll Udi Wertheimer, a notorious Ethereum skeptic. The social media version differs from the man in person (on Zoom) who projects a steelier, more guarded core.

Buterin was born in 1972 in the Chechen capital of Grozny, in Russias wild, southern reaches. As a child, he was bombarded with incessant propagandabrainwashed people, the dregs of the cult of Lenin, he said. He endured the usual shortages of toilet paper and other essentials, as well as the low-level corruption and duplicity that permeated life in the Soviet Union in the 1970s and 1980s. It did not make him love his country.

Dmitry Buterin said that his upbringing made him ideologically predisposed toward Ethereum, which is aligned with my deeply-seated passion for openness, transparency, [and] freedom. Because of growing up in the Soviet Union, and seeing the authoritarian regime and their oppression and their bigotry, for me, decentralized systems hold so much promise for us building a better future.

But it was in the Soviet Union, in Grozny, where a friendly neighbor named Vitaly helped him develop his early interest in electronics. At 17, the aspiring young software developer and entrepreneur moved to the Russian capital to study Computer Science at the Moscow Institute of Electronic Engineering.

After graduation, he married Natalia Ameline, a Cybernetics student at the National Research University of Electronic Technology. He worked as a software engineer and then a business consultant, while the couple lived in Kolomna, a city-suburb, some 70 miles southeast of Moscow. Thats where their only child, a son, Vitalik was born in 1994.

Dmitry said that the boy was named after the man that helped further his knowledge of electronics. Then he laughed dryly and said that maybe [Ameline] would have a very different recollection.

Three years after his son was born, Buterin senior co-founded his first business, a financial software reseller, and consultancy, and has been a serial entrepreneur ever since. Hes the founder of three multi-million dollar businesses, including management software startup Wild Apricot, which was sold to US software giant Personify in 2017.

Unlike the vast majority of Russians, Buterins business interests allowed him to travel abroad (to what he calls the normal world.) And when Vitalik was six, the family of three left Russia for good.

Though Dmitry and Ameline subsequently divorced, they run an educational blockchain platform, BlockGeeks, together. Dmitry Buterin also invests in and mentors various blockchain start-ups; Ameline is a co-founder of the educational nonprofit CryptoChicks.

Extended familyDmitrys brother and parentssoon followed them to Canada. Vitalik lived mostly with him, said Dmitry, who later remarried and now has two young daughters.

Putin came to power shortly after the Buterins leftthe start of a two-decade rule that would see Russia gradually diminish in international standing, due to a combination of human-rights atrocities, economic mismanagement, and the erosion of democracy.

Buterin has written about the danger of bestowing ones trauma on a child. He spoke about that in our interview and was careful to point out that his own trauma was more existential than anything else. Those kinds of unprocessed emotions and storiesthink about it as a splinter stuck in you, he said. Your mind is trying to protect you from touching that splinter.

Dmitry Buterin said he tried to protect his young son from the splinter, too. When Vitalik initially appeared to be slow learning to speak, Dmitry, a harsh critic of heavy-handed attempts to fix kids, was unperturbed: You know, they're not broken. They just have this uniqueness. And that uniqueness is expressed in different ways, he said.

Vitaliks way, it turned out, was math, creating numeric patterns, and playing with Excel, even before he left Russia. By nine or 10 he was already programming video games.

Vitalik Buterin was 19 when he invented a decentralized computing platform that is revolutionizing finance. The platform, which relies on smart contracts, was Vitaliks response to the limitations of Bitcoin, which Dmitry introduced him to when he was 17. It seeks to go above and beyond and enables any decentralized, censorship-resistant application imaginable.

ETH, the second most popular crypto-token, has seen year-to-date gains of around 140%, compared with Bitcoins 30%, and analysts are betting the upside trend will continue. But for Dmitry Buterin, its just a number, albeit one thats indicative of all the ongoing progress the platform has made. It's really just a small indication of society, the markets, recognizing all of the incredible stuff that has been happening and has been built on Ethereum, he said.

In the five years since it was launched, tens of thousands of developers have built on Ethereum; its spawned an ecosystem that spans decentralized finance, collectiblesknown as NFTssocial tokens, and more. But Buterin senior believes that the caliber of people building on the platform his son created is its biggest asset.

I was very confident, always, in the success of Ethereum, because I know the kind of people who are involved, he said.

Hes not hands-on involved with Ethereum but has kept a watchful eye on its progress.

Now, as I follow [the] DeFi space and all the different projects and tokens, I'm less inclined to do deep technical analysis, but I'm fascinated to get a sense of people, he said and named DeFi projects Aave, MakerDAO, and Synthetix as some of his personal picks.

This isnt the first time interest in Ethereum has reached a fever pitch. In 2017, its fundraising approach, the ICO, was aped by thousands of crypto startups. The boom saw ETH reach a high of almost $1,400 in December that year.

But, by the start of 2018, the idea that cryptocurrency was a golden ticket had been replaced by uncertainty and confusion about the future of digital money. Many ICO-backed companies failed or were scammy, resulting in a flurry of SEC suits.

[Vitalik] had a lot of concerns about all of these crazy ICOs, said Dmitry Buterin. He also carried a lot of anxiety about all of these things that Ethereum still has to solve." In a December 2017 tweet about the crypto market's new record market cap, the young Buterin implied that success had come too easily.

But now, three years later, Dmitry Buterin feels that the ecosystem and the Ethereum community may have turned the corner.

When I now look at [Vitaliks] communications and our text exchanges, I think that he's much, much happier, much more confident with all of the stuff that's been happening with Ethereum, he said.

Some of thats down to steady progress with the platforms major upgrade, Ethereum 2.0, which will see it transition from a proof-of-work to a proof-of-stake blockchaina boon for its scalability prospects, and a potential answer to the problem of escalating fees.

But Dmitry Buterin believes that Ethereum is succeeding because useful projects such as Aave and Chainlink are finally being built: We have way more substance now than we had in 2018, he said. All of these things are now coming to fruition.

He has plenty of company in his optimism, of course. Ethereum is having a major moment, blowing through one all-time high after another having reached $1,752. The price of Ether rose an astounding 400% in the past six months.

During that same period, the prodigal son, Vitalik, has been in Singapore where hes taken a step back from his unofficial leadership role, according to his dad: In the beginning of [2020], he was much more hands-on in a lot of research and cryptography and there is much less of that stuff on his own plate right now, just because there are so many other wonderful, smart, amazing people involved.

Instead, Vitalik has found more time for abstract and philosophical thinking. He's connecting the dots on a higher level, the level of systems and the way [they interact with] society and humans, said the elder Buterin. The father sounded especially proud of his son for that.

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Meet the Father of the Father of Ethereum - Decrypt

$10M Fund From Cosmos-Based Terra Will Gladly Back DeFi Projects on Ethereum – CoinDesk – Coindesk

The creators of the Tendermint-based Terra suite of stablecoins are opening a fund to foster its tokens usage anywhere people are doing decentralized finance (DeFi) and that primarily means Ethereum.

Announced Thursday, Terraform Labs has launched a $10 million fund, Terraform Capital, to drive integrations of either its dollar-pegged stablecoin, TerraUSD (UST), or its governance token, LUNA, throughout DeFi by covering the cost of security audits. This follows right after a $25 million funding round from many of cryptos biggest venture capitalists last month.

Main objective of fund: increase integration of UST on Ethereums DeFi stack, Do Kwon, a co-founder of Terraform Labs, told CoinDesk in an email. Expected ROI: high can fund a hundred audits with a few successful integrations.

The fund is setting up a slate of security auditors to be ready to move fast and get new offerings out the door with the security assurances early adopters want. Right now they have a few firms on deck to do the work: Sentnl, Quantstamp and Solidified.

In 2020 alone, over 240 million USD worth of digital assets were lost or stolen as a result of DeFi hacks, but no funds have been compromised in code audited by Quantstamp, Quantstamp CEO Richard Ma said in a press release.

As noted, Terraform wants to foment use of UST and LUNA, but its not worried about which blockchain the project is built on. Though a Tendermint blockchain, this fund is happy to invest anywhere Terraforms cryptocurrencies can be ported.

We want this fund to accelerate the amount of building that can happen on Ethereum (and whatever other layer 1s of the builders choosing), Jeffrey Kuan, of Terraforms business development team, told CoinDesk in an email.

He said security audits are the main cost barrier for these new teams. Were hoping that the fund can reduce friction as much as possible for promising teams that are building, with the goal of increasing the GDP of the blockchain ecosystem, Kuan said.

Whatever-maximalists, take note: This kind of fund is about the fundamentals driving a token battle rather than furthering any of cryptos tribal fights.

One of the original backers of Terraform Labs, Michael Arrington, founder of Arrington XRP Capital, told CoinDesk in a phone call that it just doesnt matter to LUNA holders where UST gets used, because the two tokens are inextricably linked.

If theres a product that uses UST, it drives LUNA demand, Arrington said. Whether its on Ethereum or Cosmos, it doesnt matter.

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$10M Fund From Cosmos-Based Terra Will Gladly Back DeFi Projects on Ethereum - CoinDesk - Coindesk

Ethereum Just Had Its Biggest Month Yet – Decrypt

In brief

The second largest cryptocurrency by market cap not only rallied to an all-time high last month, but also had a number of other important achievements.

On the price front, investors saw the highest monthly close in history with the coin ending the month at $1,313, beating the previous record set in the summer of 2019, as well as the confirmation of the 20-month moving average above the 50-month moving average. The latter is a rather bullish pattern from the price performance perspective.

Ethereum is entering February with a market cap of over $151 billion, which is just below 15% of the value of all cryptocurrencies. This also means that the two largest cryptocurrencies, Bitcoin and Ethereum, have an aggregated dominance of 75%, leaving the rest of the pack well behind.

As Money Movers data shows, Ethereum has outpaced Bitcoin in terms of the daily transferred value, reaching $19.1 billion per dayversus the latters $9.78 billion.

This can be attributed to a number of factors, including the trading volumes on decentralized exchanges (DEX). According to data by Dune Analytics, these surged by 135% in the last 30 days, surpassing the $54 billion mark.

The decentralized finance sector (DeFi), which to a large extent relies on the Ethereum blockchain, as well the growing amount of funds locked in the ETH 2.0 deposits, are other factors to consider. According to DeFi Pulse, theres over $27 billion of total value locked in DeFi smart contracts, while the amount of ETH coins sent to the ETH 2.0 deposit address is approaching 2.9 million (or, roughly $3.8 billion at current prices).

Those involved in Ethereum mining have benefited too from the assets recent solid performance. As per The Block, Ethereum miners brought in $800 million in January revenue, surpassing the previous record highs seen exactly three years ago, in January 2018.

A substantial part of thismore than $311 million, or nearly 40%came from transaction fees, showing how they are helping to reward the miners keeping the network secure, even if they are irksome.

However, mining Ethereum is getting harder. As revealed by Glassnode earlier today, the cryptocurrencys mining difficulty has reached an all-time high of 4,745.167 TH. This means miners will need more resources to generate new coins.

Ethereum will see several events occur this month, particularly enabling institutional investors to get involved with the asset.

On February 8, the CME Group is launching its Ethereum futures contracts, making the assets more widely available to institutional investors.

More institutional exposure is expected via the Grayscale Ethereum Trust, which last week resumed the private placement of its shares for accredited investors. These will also be available via Galaxy Digitals Ethereum-focused funds, which areaccording to the recent letter to investorsset for launch in mid-February.

But if February wants to be another record-breaking month, it will have to jump over a bar thats now even higher.

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Ethereum Just Had Its Biggest Month Yet - Decrypt

Why You Should Keep An Eye On Ethereum – Al-Bawaba

As the surging Bitcoin grabs most of the headlines, Ether or Ethereum, the second biggest cryptocurrency, is touching record valuation and could still be bought cheaper -- for nearly $1,600 for one Ether.

According to industry players, Bitcoin which is hovering around $40,000 is beyond the reach for most investors while Ether that has touched an all-time high is still within reach.

According to Rahul Pagidipati, CEO, ZebPay, Ether tends to follow Bitcoin.

Now that Bitcoin has hit record high and is consolidating, investors are adding Ether. Together the two cryptocurrencies constitute nearly 80 per cent of the total crypto market cap, Pagidipati said.

Nearly 3 million ETH ($3.8 billion) have been locked up for long-term staking, removing them from the buyable supply. With lower supply comes higher prices,

Shivam Thakral, CEO of BuyUcoin said that Ether is touching record valuation because Bitcoin is consolidating and investors are looking at Ether to reap greater economic benefits in the long term.

Ethereum is up about 135 per cent since the start of the year and is expected to become as valuable as Bitcoin in the years to come, Thakral added.

We hope Indian counterparts will take note of this and enable the growth of the digital asset industry in India by providing a positive regulatory environment. Ethereum Blockchain has very strong fundamentals and a lot of projects are using it to power their infrastructure.

As India plans to introduce the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, to prohibit all private cryptocurrencies in the country, the industry stakeholders have come out in unison hoping that the Indian government would listen to all stakeholders before taking any decision.

As more people see new applications for the Ethereum protocol, like staking, theyre realising that Either is real and has lasting value, just as they are realising the truth about Bitcoin, said Pagidipati.

Owning one full bitcoin is probably a dream now for most people.

But you can still buy a full Ether for Rs 1.6 lakh, still in reach for many. Those who remember Bitcoin at that price may be thinking that this opportunity wont last for much longer, the ZebPay CEO noted.

The Reserve Bank of India (RBI) is already exploring the possibility as to whether there is a need for a digital version of fiat currency and in case there is, then how to operationalise it.

The apparent softening in RBIs stand on cryptocurrency came after the Supreme Court last year set aside a circular issued by the RBI that barred any entity from providing banking services to anyone dealing with virtual or cryptocurrencies.

The RBI, in its booklet on payment systems, noted that central banks around the world are examining whether they could leverage on technology and issue fiat money in digital form.

With the overall value of all cryptocurrencies surpassing the $1 trillion mark, industry experts have said that crypto may become the most important asset class of the 21st century and India needs to catch up fast with the global trend.

This article has been amended from its original source.

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Why You Should Keep An Eye On Ethereum - Al-Bawaba

Ethereum On Bearish Momentum: 4.78% Down In The Last 6 Hours – Via News Agency

Ethereum is currently on bearish momentum. At 22:03 EST on Saturday, 6 February, Ethereum is at $1,629.39 and down by 4.78% in the last 6 hours.

Over the last six hours, Ethereums higher value was $1,707.32 and the lower value was $1,629.39.

Over the last twelve hours, Ethereums higher value was $1,707.32 and the lower value was $1,629.39.

Regarding Ethereums daily highs, its 4.564% down from its trailing 24-hour high of $1,707.32

In relation to Ethereums yearly highs and lows, its 1611.904% up from its 52-week low and 3.589% down from its 52-week high.

Ethereums last day, last week, and last months average volatility was 2.43%, 6.20%, and 5.92%, respectively.

Ethereums last day, last week, and last months high and low average amplitude percentage was 5.41%, 8.82%, and 12.47%, respectively.

Ethereum catapults to new all-time high past $1,600 as investors pile in ahead of next week's launch of CME futures. According to Business Insider on Thursday, 4 February, "Although the trade seems to be partly fueled by speculation, a major factor driving demand is the Chicago Mercantile Exchanges launch of Ethereum futures on February 8.", "Grayscale Investments, the worlds largest cryptocurrency fund manager, this week added an extra 25,000 ETH coins, bringing its total Ethereum holdings to $4.5 billion. "

Bitcoin, ethereum technical analysis: bid into a busy weekend. According to DailyFX on Friday, 5 February, "Should Ethereum pull back, there could be some possible opportunity for analysis to enter the equation. ", "At this point, Ethereum is up more than 130% in 2021 alone, and were barely a month into the New Year."

Klarna CEO cautions executives promoting Bitcoin investments. According to Bloomberg Quint on Thursday, 4 February, "Michael Saylor, CEO of MicroStrategy Inc. and a Bitcoin proselytizer, said this week at his companys World Now global conference that he sees an "avalanche" of companies moving their cash into Bitcoin over the next 12 months."

Bitcoin declines after bouncing off top of recent price range. According to Bloomberg Quint on Thursday, 4 February, "A strengthening dollar since the start of the year has kept Bitcoin stuck in a consolidation phase, but that could be ending soon, according to Ed Moya, senior market analyst at Oanda Corp."

Only 15% of Bitcoin traders are women, broker study shows. According to Bloomberg Quint on Friday, 5 February, "Women make up only 15% of Bitcoin traders, according to a brokerage study that shows how stark the gender disparity is in the world of cryptocurrencies.", "said the percentage of women holding Bitcoin on its platform increased from just 10% a year ago."

According to Business Insider on Friday, 5 February, "The price of Bitcoin skyrocketed in 2020, prompting a wave of new investors to sign up to various trading platforms. "

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Ethereum On Bearish Momentum: 4.78% Down In The Last 6 Hours - Via News Agency

Bitcoin, Ethereum Crash Liquidates $1.1 Billion Leveraged Traders – Crypto Briefing

Key Takeaways

Bitcoin and Ethereum prices dropped all the weekend gains before the traditional markets opened for trading Monday, liquidating $1.1 billion leveraged orders.

Nevertheless, market sentiments continue to wax bullish despite the carnage.

On Sunday at 5 PM CST, the CME futures market opened with a gap of $4,000 since closing at $29,385 before the holidays on Dec. 31.

Bitcoin crossed $30,000 for the first time over the weekend, topping at $34,800 this morning. However, the correction came just as quickly, as BTC prices dropped 20% around 1 AM CST.

Bitcoin futures on CME prices traced back to $28,440, filling the positive gap.

The volatility in Ethereum was even stronger as the second-largest cryptocurrency topped $1,150 for the first time in three years. The price of ETH, however, corrected 23% to $900 after peaking at $1,170.

Across exchanges like Binance and Huobi, over $1.1 billion were liquidated in the last four hours, with Bitcoin longs accounting for nearly 93.6% of the amount.

A 30-40% correction has been a standard in Bitcoin bull markets, which seldom run on over-leveraged longs across these platforms.

For example, the funding rate for Ethereum longs on BitMEXeven after the dropis close to 474% annually. Similarly, for Bitcoin, the funding rates are running above 70% annually. Moreover, a quick recovery above $30,000 after the CME gap fill is seen as a robust bullish signal.

While the bullish market sentiments seem unhinged by the correction, the high funding rate for long orders on futures markets can act as a catalyst for additional correction. Todays low, around $27,750, will act as support for a positive trend.

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Ethereum has finally broken $1,000 after three years. The milestone was reached following a parabolic 40% price surge throughout Sunday. A recent survey of the ecosystem also points to Bitcoins...

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Bitcoin, Ethereum Crash Liquidates $1.1 Billion Leveraged Traders - Crypto Briefing

Ethereum Price Analysis: ETH bulls ignore overbought RSI to attack $1,100 – FXStreet

ETH/USD stays bid around $1,090 during early Tuesdays trading. The crypto major refreshed the highest since February 2018 before stepping back to 886.00 amid overbought RSI conditions.

While the oscillator remains in the region suggesting ETH/USD pullback, the quote ignores the downside signals while following bullish MACD clues.

That said, the $1,100 round-figure is in a hands reach to the ETH/USD buyers during the latest upswing. However, the previous days high around $1,169 and the $1,200 can challenge the pairs further upside.

In a case where Ethereum buyers refrain from bending the knee around $1,200, February 2018 peak near $1,225 and the record top, marked in January 2018, surrounding $1,420, will be in the spotlight.

Alternatively, even counter-trend traders will wait for a downside break of an immediate support line, at $952 now, for fresh entries. Following that 50% and 61.8% Fibonacci retracement of December 23 to January 04 upside, respectively near $858 and $785 will challenge the ETH/USD bears.

It should be noted that an upward sloping trend line from December 23, close to $766, adds to the downside filters.

Overall, ETH/USD is up for challenging the multi-month top but momentum indicators test the bulls.

Trend: Bullish

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Ethereum Price Analysis: ETH bulls ignore overbought RSI to attack $1,100 - FXStreet

Ethereum active supply hits 5-year low – AMBCrypto News

The Ethereum [ETH] market has been seeing increased momentum that has been driving the price of the cryptocurrency in the past few months. Amid the active spot market, the active supply of Ethereum has been dropping to new lows. According to the data provider Glassnode alerts, the active supply of ETH measured on a 3-6 month timeframe has just hit a 5-year low of 5.073 million ETH.

The data provider noted:

The chart above indicated that the supply had noted a strong peak in 2019 when the price of most cryptos was consolidating between a tight range. Now that were in an active bull market, the active supply has been reduced to a 5-year low.

It was a sign of a strong HODLING behavior among the Ethereum investors and traders, as the coin marched higher on the charts. The Ethereum charts on TradingView indicated a seven-day consecutive upwards swing in ETHs price towards the end of the year. This 34% surge within a week pushed its value from $565 to $759 and at the time of writing, ETH was being traded at $734.

As the altcoin holds on to a price level above $700 and as Bitcoin hit a new all-time high over $29k, the chances of the commencement of an alt season appear strong. Meanwhile, the traders were preparing to participate in the altseason that is yet to begin.

This enthusiasm was reflected in the significant increase in the number of addresses holding Ethereum. To bookmark a good end to 2020, the number of addresses holding ETH hit an ATH of over 51.4 million. This value was 34.7 million at the beginning of the year. Whereas the number of non-zero addresses also reached 50.476 million, reflecting the bullishness in the traders attitude.

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Ethereum active supply hits 5-year low - AMBCrypto News

Valid Points: A Year in Review by Your Ethereum 2.0 Staking Experts – Yahoo Finance

In less than 48 hours, 2020 will be behind us.

It almost seems too big a task to recount all that has happened in this world, in this industry and in our own personal lives but our colleague Brad Keoun, editor of CoinDesks daily cryptocurrency markets newsletter, First Mover, offers an excellent start to summarizing 2020. He writes:

This year saw the biggest drop-off in economic activity since the Great Depression, the biggest money-printing episode in the Federal Reserves 107-year history, an epochal shift toward remote working, negative prices for crude-oil futures and the first real signs the global financial system might be migrating toward fast-growing markets for cryptocurrencies and digital assets.

Related: What Is Proof-of-Stake?

2020 also saw an explosive growth in the total value locked and user activity for decentralized finance (DeFi) applications on Ethereum. We witnessed the genesis of Ethereums primary scaling solution with the launch of Ethereum 2.0 and the emergence of an entirely new use case for ether through staking.

Where do we go from here? For todays special, year-end edition of Valid Points, weve gathered commentary from the industrys most well-known Eth 2.0 staking experts. Theyll be illustrating through charts what caught their attention most this past year and what theyll be watching closely for in the next.

Our first contribution is from Tim Ogilvie, the founder and CEO of Staked. Staked helps investors earn yield from staking and DeFi without taking custody of their crypto assets.

My favorite Ethereum chart shows the daily gas usage. I love it because its one part of the great story that I expect will propel ETH over the next few years. There are three legs to the stool:

Related: Proof-of-Stake Was Bigger Than Eth 2.0 in 2020

Story continues

1. Our chart. People are using ETH with increasing frequency, driving increased gas demand.

2. EIP-1559, introducing Fee Burns. This is an upcoming Ethereum improvement that will take all of the gas demand and use it to burn ETH. The more ETH gets used, the more ETH supply gets burned.

3. ETH2: Ethereums transition to proof-of-stake, allowing for low issuance of new supply while providing strong security guarantees.

Bitcoin has an amazing story as an asset with a fixed supply of 21 million BTC. Ethereums story has the potential to be even stronger. If gas usage exceeds supply issuance, youve now got a digital asset with a steadily declining supply.

My 2021 prediction: This becomes the dominant story around ETHs valuation and it drives significant price appreciation.

Next, we have the head of strategy and operations for stake.fish, Jun Soo Kim. With support for over 10 different blockchain networks, Jun Soo and his team are working to secure and contribute to an exciting new staking ecosystem and enable users to stake with confidence.

By far my favorite chart of Ethereum 2.0 is how consistently the participation rate has been averaging at above 98% after the first few days of the Beacon Chain launch. The participation rate shows how well the active validators are doing to stay online and conduct their attestation duties. If the participation rate was any closer to 66%, we would need to be seriously concerned about the network health. But at the current levels, we have a nice big buffer that alleviates any concerns for network finality halts.

There is also another takeaway from this data. While there are many professional staking service providers running validators on Ethereum 2.0, there is a bigger number of individuals who are operating validators themselves. These independent validators have been contributing to the high participation rate. From this, we can infer that Ethereum 2.0 has achieved its goal of making sure anyone can run validators on their own without having to rely on specialized technical knowledge or hardware. This provides hope that while staking services and exchanges will grow, the number of independent validators will grow as well. Independent validators are key in ensuring Ethereum 2.0 remains decentralized and I hope we keep seeing improvements to the experience of running validators.

We havent even seen the beginning of Ethereum 2.0 integration with DeFi. Tokenized staked ETH and how they become a part of the existing DeFi stack will be a key theme in the first half of 2021.

Our penultimate contribution comes from Chandler Song, CEO of Ankr. Ankr Network is a San Francisco-based Web 3.0 infrastructure provider working at removing entry barriers and opening Ethereum 2.0 staking to everyone with Stkr decentralized protocol.

This chart represents the number of ETH sent by validators to the Ethereum 2.0 deposit contract since it went live on Nov. 4. To launch on the planned Genesis date of Dec. 1, 524,288 ETH had to be transferred until Nov. 24. This threshold was met only hours before the activation deadline.

We see that early on the community was hesitant to stake their ETH. The fact that the staked funds are locked and essentially illiquid for an indefinite period made the progress slow in the first weeks. We think that one of the important factors that helped break the momentum was staking-as-a-service solutions going live with synthetic assets that solve early Ethereum 2.0 liquidity issues.

We are going to see the growing popularity of liquid bond tokens representing ETH 2.0 stake. These assets have two functions: turn illiquid ETH into a tradable and liquid asset and allow investors to participate in building trust to grow the Ethereum network.

Last but not least, our final chart comes from Mike Garland, product manager for Alchemy. Alchemy is a blockchain developer platform powering 4 million users and $7.5 billion dollars of transactions in 99% of countries worldwide.

Our favorite ETH 2 graph of 2020 is one which shows the 35,300% increase in global adoption weve seen of the Beacon Chain since just before the Dec. 1 launch.

Weve seen great developers and teams pouring in to pick up and start using ETH 2.0 and all signs point to even greater adoption going into the new year.

The ETH and ETH 2.0 ecosystems are only as good as the developers and users that drive them, so seeing this kind of growth so early for ETH 2.0 has us super excited for the year ahead.

Well soon be incorporating data directly from CoinDesks own Eth 2.0 validator node in our weekly analysis. All profits made from this staking venture will be donated to a charity of our choosing once transfers are enabled on the network. For a full overview of the project, check outour announcement post.

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Valid Points: A Year in Review by Your Ethereum 2.0 Staking Experts - Yahoo Finance

LCX.com Starts Crypto Exchange with Bitcoin and Ethereum – Finance Magnates

When Bitcoin prices are setting new records, the Liechtenstein Cryptoassets Exchange, popularly known as LCX.com, has launched its digital currency exchange services. The platform is regulated and in compliance with local Liechtenstein regulations.

Announced on Tuesday, the new exchange will initially facilitate trading with Bitcoin, Ethereum, USD Coin and LCX token. However, it has plans to add more digital currencies into its offering.

Commenting on the new platform, LCX.com Co-founder and CEO, Monty Metzger said: LCX Exchange is a new generation of cryptocurrency exchange. 2021 will be the year of blockchain innovation, and we see crypto compliance as key to success.

The exchange started its operations only a week after it received eight licenses from the Liechtenstein regulator under the countrys new blockchain laws. The licenses ensure LCXs compliance as a crypto exchange, a digital currency custodian and a price oracle.

Jesse Willms on Making The Most Of The eCommerce BoomGo to article >>

Founded in 2018, the exchange focused on strengthening its processes before approaching for the licenses.Finance Magnateslast year reported on LCXs partnership with blockchain analytics firm, Elliptic to automate compliance against illicit transactions.

LCX is launching its exchange when the demand in cryptocurrency markets are soaring, mostly with the rally of Bitcoin. The digital currency broke all records and is trading strongly above $30,000 even after corrections in double digits.

Though the altcoins market remained dull overall, Ethereum soared significantly, even dwarfing Bitcoin in yearly gains. LCX is listing both of these tokens in the initial batch.

Meanwhile, major exchanges are seeing record-breaking demand for cryptocurrencies, and the volumes are breaking records too.

Link:

LCX.com Starts Crypto Exchange with Bitcoin and Ethereum - Finance Magnates

Huobi Group Explains how Ethereum will be Merging Two Digital Assets, BETH and ETH, as It Transitions to ETH 2.0 – Crowdfund Insider

Digital asset exchange Huobi noted earlier this month that the ongoing upgrade of Ethereum (ETH), the worlds largest platform for building decentralized applications (dApps), is expected to make the original smart contract enabled blockchain much more usable, scalable, and effective but it will also take a fairly long time before the transition to Ethereum 2.0 has been successfully completed.

As mentioned in a blog post by the Huobi Group, the path to Ethereum 2.0 will not be an overnight thing, and will have several different stages or phases to it. The transition process begins with Phase 0, which will involve the Beacon Chain going live and then the move towards a new proof of stake (PoS) consensus algorithm will begin to take place, Huobi explained.

The exchange further noted that with this major change in the blockchain consensus mechanism, there will also be a new digital currency created, called BETH. As noted by Huobi, the creation of a new cryptocurrency on an existing blockchain, born of a new chain upgrade causes many logistical difficulties, but these will all have to be overcome if ETH 2.0 is to be a success.

The Huobi Group added:

When Phase 0 does occur, BETH will have to co-exist with the already prevalent ETH cryptocurrency. This is logistically something quite unique, but it has been planned out and factored in by those [who are involved with the development and deployment of] ETH 2.0. So, how will BETH and ETH coexist to begin with, and what will be left when ETH 2.0 is finally complete?

The exchange further explained:

ETH 2.0 is more like a recast new chain that will coexist with ETH 1.0 for quite a long time, the new chain will not instantly replace the original as that would be impractical, but this method throws up its own issues. So, the new chain of ETH 2.0 will also mint a new token, which is BETH. In other words, before ETH 2.0 and ETH 1.0 are completely merged, there will be two types of Ethereum tokens in the network: ETH and BETH.

Huobi also pointed out that the generation of BETH is unidirectional. Users (which includes verification nodes) must lock ETH into the contract in order to register the public key address of the Beacon Chain. The public key registered in the contract will be recognized via the ETH 2.0 chain, the Ethereum asset (ETH) anchoring the master chain will be burned, and the Ethereum asset (BETH) on the Beacon Chain network will be generated, Huobi noted.

Currently, its not possible for users to migrate BETH on the ETH 2.0 Beacon Chain to the ETH 1.0 chain before both chains have been merged, Huobi clarified. And before ETH 2.0 begins supporting cross-shard transactions, BETH tokens cant be transferred, and it will become a non-transferable asset for validators and users, Huobi added.

This process is quite different from a typical hard fork (backward incompatible) update where a duplicate is made, instead old tokens on ETH need to be manually destroyed through the smart contract, and generate a new token BETH on ETH2.0, Huobi explained. The migration process is long-term and irreversible, Huobi confirmed, while adding that in the past hard fork upgrade, both tokens were migrated automatically and instantaneously.

BETH tokens will appear to be a bit useless as they cant be transferred and wont become a non-transferable asset for validators and users, Huobi acknowledged. The exchange pointed out that BETH may be used to take part in the Casper consensus for mining, and users may receive about 10% BETH staking rewards each year.

BETH is temporarily unable to transfer on the chain; while ETH Token can still be used normally, but users cannot get any staking rewards, Huobi clarified, while noting that a core concept of ETH2.0 is to lower the threshold so that more people can participate in the staging.

For instance, a home PC or laptop would also have the capability or the computing capacity to build Ethereum nodes. Therefore, the number of users participating in the Beacon Chain Staking may be higher than other blockchain projects, Huobi claims.

Eventually, ETH and BETH will be able to merge and will be integrated, so that theres just one ETH token in the entire network.

Huobi added:

In the migration plan announced by Vitalik Buterin in October 2019, it was clearly stated that the entire user migration process will attach great importance to the user experience. Therefore, if an ETH holder has no intention to participate in BETH Staking, he can directly wait for the merger after 2 years without manual migration, and may not even be aware of the automatic merger process.

Huobi concluded:

BETH is a special token of the transitional period and a staged product. However, considering that the two adopt a one-way exchange scheme, in a long transition period (Phase 0 ~ Phase 2, about 2 years), the two may not be able to converge, so the two are two different tokens during the transition period.

As covered, Huobi has provided a detailed explanation of why Ethereum is arguably the most important distributed ledger technology (DLT) project, but time will tell if Ethereum 2.0 succeeds.

Originally posted here:

Huobi Group Explains how Ethereum will be Merging Two Digital Assets, BETH and ETH, as It Transitions to ETH 2.0 - Crowdfund Insider

Ethereum researcher Virgil Griffith’s trial to start in September 2021 – CoinGeek

Virgil Griffith, the Ethereum researcher accused of aiding North Korean government officials to evade sanctions, will stand trial starting September 2021, a New York court has ruled.

Judge Kevin Castel of the Southern District of New York ruled, A conference is set for September 7, 2021 at 9:30 am in Courtroom 11D 500 Pearl Street, New York, NY. For reasons stated on the record, time is excluded in the interest of justice under the Speedy Trial Act through September 7, 2021 to allow both sides to discuss a resolution of this matter and review discovery.

If either Griffith or the prosecutors oppose the September 7 trial date, they must submit in writing their reasons for the opposition before December 30, 2020.

U.S. authorities arrested Griffith in November 2019 after he returned from attending a blockchain conference in North Korea. They claimed that he had violated the IEEPA, an act that prohibits U.S. citizens from offering any good or service to countries that the U.S. government has imposed sanctions on.

While setting the date for the trial, Judge Castel also granted Griffiths motion to compel discovery of material in the possession of the Office of Foreign Assets (OFAC), stating:

Defendants motion to compel discovery of material in the possession of OFAC is GRANTED to the extent that the government is directed to conduct a review of material in the possession of OFAC for the period from October 24, 2019 to the present that is related to Mr. Griffiths prosecution; the government shall disclose any materials that must be disclosed to the defendant consistent with the governments obligations.

The Judge, however, deferred ruling on Griffiths motion to compel a search of files of some government agencies regarding the blockchain capabilities of North Korea. He ordered Griffiths legal team to meet with the prosecutors and agree on a stipulation. They shall then submit this stipulation to the court no later than January 25, 2021.

Griffiths lawyers have insisted that the prosecutors case against the Ethereum Foundation developer is fatally flawed. In their most recent motion, they claimed that Griffith is not even aware of what crimes he is charged with. They claimed that despite the government presenting 6,800 pages of discovery, its all vague and none points to the exact crimes he allegedly committed.

FollowCoinGeeks Crypto Crime Cartelseries, which delves into the stream of groupsfromBitMEXtoBinance,Bitcoin.com,Blockstream,ShapeShiftandEthereumwho have co-opted the digital asset revolution and turned the industry into a minefield for nave (and even experienced) players in the market.

New to Bitcoin? Check out CoinGeeksBitcoin for Beginnerssection, the ultimate resource guide to learn more about Bitcoinas originally envisioned by Satoshi Nakamotoand blockchain.

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Ethereum researcher Virgil Griffith's trial to start in September 2021 - CoinGeek

Fund manager Bitwise surpasses $500 million in Bitcoin, Ethereum and other crypto AUM – AMBCrypto News

Crypto fund manager Bitwise surpassed $500 million in assets under management (AUM) and recorded Q4 inflows into its Bitcoin, Ethereum, and crypto index funds, outpacing previous quarters.

On 28 October 2020, Bitwise Surpassed $100 Million in AUM after the firm recorded increasing demand from hedge funds and advisors.

Bitwises 10 Crypto Index Fund which tracks crypto-assets such as Bitcoin, Ethereum, and Litecoin, among others, saw the strongest demand and crossed over $400M in AUM.

Furthermore, Bitwise Bitcoin Fund and Bitwise Ethereum Fund have also recorded increased demand as well. Co-founder and Chief Executive Officer of Bitwise, Hunter Horsley said:

The speed at which professional investors are moving into crypto right now is remarkable,

He cautioned investors that while adoption of crypto as an asset class and conviction around its role in portfolios expands, he urged all investors to consider the risks associated with investing in cryptocurrencies in general and the Bitwise Funds in particular.

Bitwise also recorded high inflows into its funds during Q4 2020, which surpassed the total cumulative inflows of 2018 and 2019 overall.

According to the fund manager, this surge in demand came from Bitwises financial advisors, hedge funds, corporate balance sheets, and other institutional investors and primarily Bitwises core audience as well.

Earlier, Bitwise announced that the firms 10 Crypto Index Fund liquidated its position in XRP in light of the Securities and Exchange Commission accusations against Ripple for conducting a securities offering.

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Fund manager Bitwise surpasses $500 million in Bitcoin, Ethereum and other crypto AUM - AMBCrypto News

Ethereum On Bullish Momentum: 7.82% Up In The Last 12 Hours – Via News Agency

Ethereum is currently on bullish momentum. At 23:03 EST on Sunday, 3 January, Ethereum is at $1,018.56 and up by 7.82% in the last 12 hours.

Over the last six hours, Ethereums higher value was $1,018.56 and the lower value was $967.92.

Over the last twelve hours, Ethereums higher value was $1,018.56 and the lower value was $917.11.

In relation to Ethereums daily lows, its 30.934% up from its trailing 24-hour low of $777.92

In relation to Ethereums yearly highs and lows, its 970.141% up from its 52-week low and 0.106% down from its 52-week high.

Ethereums last day, last week, and last months average volatility was 25.95%, 5.57%, and 1.92%, respectively.

Ethereums last day, last week, and last months high and low average amplitude percentage was 30.46%, 9.77%, and 7.06%, respectively.

According to FX Empire on Sunday, 3 January, "Crypto.com Coin and Litecoin rallied by 10.53% and by 8.38% to lead the way, with Ethereum rising by 6.06%.", "Chainlink (+0.28%), Ethereum (+0.50%), and Litecoin (+0.54%) joined Bitcoin in the green, with Bitcoin Cash SV flat."

Bitcoin breaches $34,000 as rally extends into new year. According to Bloomberg Quint on Saturday, 2 January, "Still, there are reasons to be cautious, partly since Bitcoin remains a thinly traded market. "

BQ big decisions: Bitcoin is crying out for A place in your portfolio. beware of the risks. According to Bloomberg Quint on Sunday, 3 January, "On this BQ Big Decisions podcast, BloombergQuint speaks to author, angel investor and expert on Bitcoin Ajeet Khurana about what to keep in mind when deciding whether to invest in Bitcoin."

Ether follows Bitcoin to record high amid dizzying crypto rally. According to Bloomberg Quint on Monday, 4 January, "The digital currency Ether reached a record on Monday a day after Bitcoin breached $34,000 for the first time as the surge in cryptocurrencies continues.", "Proponents of Bitcoin argue that its muscling in on gold as a hedge against U.S. dollar weakness and inflation risk, citing evidence of growing interest among institutional investors. "

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Ethereum On Bullish Momentum: 7.82% Up In The Last 12 Hours - Via News Agency

Ethereum On Bullish Momentum: 7.33% Up In The Last 24 Hours – Via News Agency

Ethereum is currently on bullish momentum. At 19:05 EST on Saturday, 2 January, Ethereum is at $774.51 and up by 7.33% in the last 24 hours.

Over the last six hours, Ethereums higher value was $785.87 and the lower value was $760.52.

Over the last twelve hours, Ethereums higher value was $785.87 and the lower value was $752.98.

In relation to Ethereums daily highs and lows, its 7.331% up from its trailing 24-hour low of $721.61 and 1.446% down from its trailing 24-hour high of $785.87.

Regarding Ethereums yearly highs and lows, its 0% down from its 52-week low and 0% down from its 52-week high.

Ethereums last day, last week, and last months average volatility was a negative 1.02%, a positive 2.27%, and a positive 0.67%, respectively.

Ethereums last day, last week, and last months high and low average amplitude percentage was 4.09%, 6.71%, and 6.21%, respectively.

Wall street revives dream of a Bitcoin ETF with new SEC filing. According to Bloomberg Quint on Thursday, 31 December, "In the past she has described Bitcoin as a "highly speculative asset" and "not a stable store of value.", "For years, regulators have quashed hopes of a Bitcoin exchange-traded fund, citing worries about everything from market volatility and industry manipulation to thin liquidity."

According to Business Insider on Thursday, 31 December, "The VanEck Bitcoin Trust would reflect the performance of the MVIS CryptoCompare Bitcoin Benchmark Rate."

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Ethereum On Bullish Momentum: 7.33% Up In The Last 24 Hours - Via News Agency

Ethereum On Bullish Momentum: 5.74% Up In The Last 6 Hours – Via News Agency

Ethereum is currently on bullish momentum. At 11:04 EST on Saturday, 2 January, Ethereum is at $767.55 and up by 5.74% in the last 6 hours.

Over the last six hours, Ethereums higher value was $767.55 and the lower value was $725.85.

Over the last twelve hours, Ethereums higher value was $767.55 and the lower value was $725.85.

In relation to Ethereums daily lows, its 6.366% up from its trailing 24-hour low of $721.61

Regarding Ethereums yearly highs and lows, its 706.419% up from its 52-week low and 0.194% down from its 52-week high.

Ethereums last day, last week, and last months average volatility was a negative 1.02%, a positive 2.27%, and a positive 0.67%, respectively.

Ethereums last day, last week, and last months high and low average amplitude percentage was 4.09%, 6.71%, and 6.21%, respectively.

Bitcoin hits new record, set for biggest monthly gain since 2019. According to Bloomberg Quint on Wednesday, 30 December, "While a growing institutional presence has been part of the narrative of the current bull run, we may see increased retail interest in Bitcoin as a form of digital gold," Paolo Ardoino, chief technology officer of crypto exchange Bitfinex said in an email."

South African Bitcoin trader under liquidation, business day says. According to Bloomberg Quint on Wednesday, 30 December, "A provisional liquidation order has been granted against a South African Bitcoin trading company that is said to have received about 9.45 billion rand ($644 million) from as many as 280,000 investors, Business Day reported."

Wall street revives dream of a Bitcoin ETF with new SEC filing. According to Bloomberg Quint on Thursday, 31 December, "For years, regulators have quashed hopes of a Bitcoin exchange-traded fund, citing worries about everything from market volatility and industry manipulation to thin liquidity.", "In the past she has described Bitcoin as a "highly speculative asset" and "not a stable store of value."

According to Business Insider on Thursday, 31 December, "The VanEck Bitcoin Trust would reflect the performance of the MVIS CryptoCompare Bitcoin Benchmark Rate."

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Ethereum On Bullish Momentum: 5.74% Up In The Last 6 Hours - Via News Agency

Reef and Avalanche Partner to Usher in DeFi Mainstream Adoption amidst Ethereum’s Lag and High fees – Yahoo Finance

TipRanks

Weve turned a new page on the calendar, Old Man 20 is out the door, and theres a feeling 21 is gonna be a good year and so far, so good. The markets closed out 2020 with modest session gains to cap off larger annual gains. The S&P 500 rose 16% during the corona crisis year, while the NASDAQ, with its heavy tech representation, showed an impressive annual gain of nearly 43%. The advent of two viable COVID vaccines is fueling a surge in general optimism.Wall Streets top analysts have been casting their eye at the equity markets, finding those gems that investors should give serious consideration in this new year. These are analysts with 5-star ratings from TipRanks database, and they are pointing out the stocks with Strong Buy ratings in short, this is where investors can expect to find share growth over the next 12 months. We are talking returns of at least 70% over the next 12 months, according to the analysts. ElectraMeccanica Vehicles (SOLO)Electric vehicles, EVs, are growing more popular as consumers look for alternatives to the traditional internal combustion gasoline engine. While EVs simply move the source of combustion from under the hood to the electric power plant, they do offer real advantages for drivers: they offer greater acceleration, more torque, and they are more energy efficient, converting up to 60% of their battery energy into forward motion. These advantages, as EV technology improves, are starting to outweigh the drawbacks of shorter range and expensive battery packs.ElectraMeccanica, a small-cap manufacturer from British Columbia, is the designer and marketer of the Solo, a single-seat, three-wheel EV built for the urban commuter market. Technically, the Solo is classed as an electric motorcycle but it is fully enclosed, with a door on either side, features a trunk, air conditioning, and a Bluetooth connection, and travels up to 100 miles on a single charge at speeds up to 80 miles per hour. The recharging time is low, less than 3 hours, and the vehicle is priced at less than $20,000.Starting in Q3 2020, the company delivered its first shipment of vehicles to the US, and expanded into six additional US urban markets, including San Diego, CA and Scottsdale and Glendale, AZ. ElectraMeccanica also opened four new storefronts in the US 2 in Los Angeles, one in Scottsdale, and one in Portland, OR. In addition, the company has begun design and marketing work a fleet version of the Solo, to target the commercial fleet and car rental markets starting in the first half of this year.Craig Irwin, 5-star analyst with Roth Capital, is impressed by SOLOs possible applications to the fleet market. He writes of this opening, We believe the pandemic is a tailwind for fast food chains exploring better delivery options. Chains look to avoid third party delivery costs and balance brand identity implications of operator- vs. company-owned vehicles. The SOLO's 100-mile range, low operating cost, and std telematics make the vehicle a good fit, in our view, particularly when location data can be integrated into a chain's kitchen software. We would not be surprised if SOLO made a couple announcements with major chains after customers validate plans.Irwin puts a Buy rating on SOLO, supported by his $12.25 price target which implies a 98% upside potential for the stock in 2021. (To watch Irwins track record, click here)Speculative tech is popular on Wall Street, and ElectraMeccanica fits that bill nicely. The company has 3 recent reviews, and all are Buys, making the analyst consensus a unanimous Strong Buy. Shares are priced at $6.19 and have an average target of $9.58, making the one-year upside 55%. (See SOLO stock analysis on TipRanks)Nautilus Group (NLS)Based in Washington State, this fitness equipment manufacturer has seen a massive stock gain in 2020, as its shares rocketed by more than 900% over the course of the year, even accounting for recent dips in the stock value. Nautilus gained as the social lockdown policies took hold and gyms were shuttered in the name of stopping or slowing the spread of COVID-19. The company, which owns major home fitness brands like Bowflex, Schwinn, and the eponymous Nautilus, offered home-bound fitness buffs the equipment needed to stay in shape.The share appreciation accelerated in 2H20, after the companys revenues showed a recovery from Q1 losses due to the corona recession. In the second quarter, the top line hit $114 million, up 22% sequentially; in Q3, revenues reached $155, for a 35% sequential gain and a massive 151% year-over-year gain. Earnings were just as strong, with the Q3 $1.04 EPS profit beating coming in far above the year-ago quarters 30-cent loss.Watching this stock for Lake Street Capital is 5-star analyst Mark Smith, who is bullish on this stock. Smith is especially cognizant of the recent dip in share price, noting that the stock is now off its peak which makes it attractive to investors. Nautilus reported blowout results for 3Q:20 with strength across its portfolio We think the company has orders and backlog to drive high sales and earnings for the next several quarters and think we have seen a fundamental shift in consumers' exercise-at-home behavior. We would view the recent pull back as a buying opportunity, Smith opined.Smiths $40 price target supports his Buy rating, and indicates a robust 120% one-year upside potential. (To watch Smiths track record, click here)The unanimous Strong Buy consensus rating shows that Wall Street agrees with Smith on Nautilus potential. The stock has 4 recent reviews, and all are to Buy. Shares closed out 2020 with a price of $18.14, and the average target of $30.25 suggests the stock has room for ~67% upside growth in 2021. (See NLS stock analysis on TipRanks)KAR Auction Services (KAR)Last but not least is KAR Auction Services, a car auctioning company, which operates online and physical marketplaces to connect buyers and sellers. KAR sells to both business buyers and individual consumers, offering vehicles for a variety of uses: commercial fleets, private travel, even the second-had parts market. In 2019, the last year for which full-year numbers are available, KAR sold 3.7 million vehicles for $2.8 billion in total auction revenue.The ongoing corona crisis, with its social lockdown policies, put a damper on car travel and reduced demand for used vehicles across market segments. KAR shares slipped 13% in 2020, in a year of volatile trading. In the recent 3Q20 report, the company showed revenue of $593.6 million, down over 15% year-over-year. Third quarter earnings, however, at 23 cents per share profit, were down less, 11% yoy, and showed a strong sequential recovery from the Q2 EPS loss of 25 cents.As the new vaccines promise an end to the COVID pandemic later this year, and the lifting of lockdown and local travel restrictions, the mid- to long-term prospects for the second-hand car market and for KAR Auctions are brightening, according to Truist analyst Stephanie Benjamin.The 5-star analyst noted, Our estimates now assume that the volume recovery occurs in 2021 vs. 4Q20 under our previous estimates Overall, we believe the 3Q results reflect that KAR is well executing on the initiatives within its control, specifically improving its cost structure and transforming to a pure digital auction model.Looking further ahead, she adds, delinquencies and defaults for auto loans and leases have increased and we believe will serve as a meaningful volume tailwind in 2021 as repo activity resumes. Additionally, repo vehicles generally require ancillary services which should yield higher RPU. This supply influx should also help moderate the used pricing environment and drive dealers to fill up their lots, which remain at three-year lows from an inventory standpoint.In line with these comments, Benjamin sets a $32 price target, implying a high 71% one-year upside potential to the stock, and rates KAR as a Buy. (To watch Benjamins track record, click here)Wall Street generally is willing to speculate on KARs future, as indicated by the recent reviews, which split 5 to 1 Buy to Hold, and make the analyst consensus view a Strong Buy. KAR is selling for $18.61, and its $24.60 average price target suggests it has room to grow 32% from that level. (See KAR stock analysis on TipRanks)To find good ideas for stocks trading at attractive valuations, visit TipRanks Best Stocks to Buy, a newly launched tool that unites all of TipRanks equity insights.Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.

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Reef and Avalanche Partner to Usher in DeFi Mainstream Adoption amidst Ethereum's Lag and High fees - Yahoo Finance

Bitcoin and Ethereum Bounce Back After Banking Green Light – Decrypt

In brief

It was a bumpy Monday for the cryptomarkets. After the fanfare of Bitcoin breaking the $30,000 barrier, it quickly shed $5,000 or 33% of its value in a number of hours, reminding new investors that investing in cryptocurrencies can be rough on the nerves.

Adding to that pain, in January alone (thats just five days), more than $2 billion worth of futures contracts have been liquidated as a result of Bitcoins volatility. But there was a ray of sunshine for rattled investors yesterday in the form of new regulation.

Overnight, the Office of the Comptroller of the Currency (OCC), the bureau of the US Treasury Department charged with regulating banks, gave the green light for banks to use stablecoins and blockchains for payments.

The news sent prices moving upwards again. Ethereum rose by nearly 12% in the immediate aftermath, thanks in part to the sheer volume of stablecoins using the network. Bitcoin headed back above the $30,000 and has stayed there ever since.

The good news led to a flurry of money moves overnight, with 24-hour volume up 6,203%, according to data provider Nomics.

Despite the wipe out in the futures markets and increased volatility, sentiment among investors is still firmly in the buy camp according to TradingView.

The bullish sentiment is being driven by ever more institutional investors piling into to cash in on the market beating performance of Bitcoin. As we reported yesterday, the word on Wall Street is, Momentum is a powerful force, and we dont want to fight it.

It was a similar story yesterday for stock markets. The S&P 500 suffered its worst start to a year since 2016, with declines continuing in Asia amidst concern that two new COVID variants are squeezing economies even further.

In the UK, a fresh nationwide lockdown has led to school closures and a ban on meeting others outside. While in South Africa, a vaccine-resistant strain is starting to gather pace.

With chaos in the US and in Europe over how quickly they can deploy a vaccine - at its current rate, the UK will take six years to fully vaccinate the population, despite being first out of the gate with its immunisation programme.

The ongoing political saga in the US is also adding pressure to prices, as the Georgia Senate runoff and fresh allegations of election fraud dominate the headlines.As a result, volatility indexes tipped up - the Cboe jumped the most since October.

But investors are holding onto the panic being consigned to the first quarter of the year. If we learned anything in 2020, its that predictions rarely come true.

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Bitcoin and Ethereum Bounce Back After Banking Green Light - Decrypt