Explosive Defi, Stablecoin Activity Send Ethereum Fees Above Bitcoin

The median transaction fees on the Ethereum blockchain have been above Bitcoin’s for over a month. Data aggregator Messari noted that an explosion of activities on Ethereum-backed decentralized finance and stablecoin projects shot its fees higher. It further stated the Ethereum’s consistent uptrend shows that its demand is not slowing down. Ethereum has set a new record against Bitcoin. The second-largest blockchain project by market capitalization charged higher fees for confirming blocks throughout the past 30 days. Its median transaction charge surpassed that of Bitcoin and stayed there for over…

Technicals Suggest Ethereum Must Stay Above $230 For Hopes of a Fresh Rally

Ethereum started a downside correction from the $248-$250 resistance zone against the US Dollar. ETH could extend its decline, but it must stay above $230 for hopes of a fresh increase. Ethereum is correcting lower and trading near the $235 support zone. The price is now trading below the $242 pivot level and the 100 hourly simple moving average. There was a break below a major bullish trend line with support near $245 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to extend its…

Tether Blacklists 39 Ethereum Addresses Worth Over $46 Million

Tether (USDT) has blacklisted 39 Ethereum addresses worth $46 million in USDT, with 24 holding a total of over 5.5 million USDT being blacklisted this year. This revelation comes on the back of Centre’s first blacklisting of an Ethereum address holding $100,000 USDC. Ethereum researcher at Horizon Games Philippe Castonguay used Dune Analytics to create a dashboard that tracks the number of addresses blacklisted by both Centre and Tether. The largest address holds over 4.5 million USDT and was only recently blacklisted on April 5. 39 addresses blacklisted by Tether.…

‘Significant’ Ethereum Rally Signals New Altcoin Season — Peter Brandt

Popular trader Peter Brandt believes that Ether (ETH) saw a significant breakout in its ETH-BTC pair on July 9. According to the veteran trader, the breakout could be a signal that a new altcoin season could occur in the near-term. Brandt tweeted: “Significant breakout in ETH-BTC with target of .03276 BTC. Most alts should gain on Bitcoin in near future.” ETH-BTC daily chart. Source: Peter Brandt The strong performance of alternative cryptocurrencies in recent weeks coincides with an Ether rally and the expectation that upcoming network upgrades will solve the…

Sell Signals On Ethereum and Others Could Mean Altcoin Season Is Finished

Chainlink set a new all-time high and has gone parabolic. Dogecoin has gone viral. Even XRP is pumping. The crypto space is clamoring that altcoin season is finally here. However, sell signals appearing on the price charts of numerous alts suggest otherwise. Is alt season already over before it officially began? Altcoin Season Explained Bitcoin and altcoins exploded alongside one another during the crypto bubble. But since then, the two crypto assets have had a somewhat inverse relationship. When Bitcoin was pumping all throughout 2019, altcoins fell further in value.…

This Prominent Bitcoin Advocate Just Went Long on Ethereum; Here’s Why

Ethereum has been expressing some notable strength against Bitcoin over the past couple of days. This comes as it was able to rally past a significant resistance level that was previously forcing it lower. Analysts are now noting that the cryptocurrency could be poised to see further upside, with one veteran trader offering a target that is nearly 30% higher than where it is currently trading. The strength it has expressed over the past couple of days has even been enough to cause one Bitcoin maximalist and prominent Ethereum critic…

Centre Freezes Ethereum Address Holding $100K USDC

Centre, the company that issues the stablecoin USD Coin (USDC) has blacklisted an Ethereum address holding $100,000 in USDC in response to a law enforcement request. In the first of its kind, the address had a “blacklist(address investor)” function called on June 16, 2020. It’s not yet clear the reason behind the law enforcement request, but Centre Consortium — founded by Circle and Coinbase — did release a statement confirming the blacklisting: “Centre can confirm it blacklisted an address in response to a request from law enforcement. While we cannot…

Ethereum Embarks on a “Moon Mission” as Analysts Eye a Move to $290

Ethereum is beginning to flash some signs of strength as it pushes up against the upper boundary of its long-established trading range between $230 and $250. If it can surmount the resistance it is currently facing, it is a strong possibility that it will soon set fresh post-March highs. Analysts are growing increasingly optimistic regarding the cryptocurrency’s near-term outlook. One is even going so far as to note that it is currently embarking on a “moon mission” due to it forming an incredibly bullish market structure. As for where this…

Performance Art Film Is Now Tokenized on the Ethereum Blockchain

HOW ARE WE, a performance art collaboration consisting of 15 short works filmed in COVID-19 quarantine, has been hashed and minted into a non-fungible token on the Ethereum blockchain. Additionally, a mechanism has been put in place to reward the project’s contributors whenever the asset is sold. Artists benefit from potentially appreciating assets A legally binding contract grants the rights to the film to the holder of the ERC-721 token in which the hash and metadata of the artwork is stored. This means that if, for instance, the Museum of…

Waiting for Ethereum 2.0, but Layer-Two Solutions Are Needed Now

Ethereum has been the center of focus in the cryptosphere for some time now, and for good reasons. As the popularity of the second-largest blockchain network continues to grow, so too does the urgency for improved performance and scalability. The Ethereum network has been dealing with some congestion issues, the most recent of which resulted in its transaction fees ballooning in June 2020. The network congestion even led to an increase in the maximum gas allowed per block on the Ethereum blockchain, enabling more transactions to be processed but also…