Major Cryptos Remain Unstirred by Inflation Data, Ethereum Shanghai Fork

Bitcoin, the largest cryptocurrency by market capitalization, was recently trading at about $29,900, down the better part of a percentage point over the past 24 hours. Ether, the second largest crypto in market value, was hovering around $1,905, up almost a percentage point. Many investors had been looking for both cryptos to react more strongly to Wednesday’s events, particularly the Ethereum “hard fork,” a continuation of the platform’s transformation from a proof-of-work to a faster, more efficient proof-of-stake protocol. Author: James Rubin, Jocelyn Yang, Glenn Williams Source link

Ethereum faces 6-month lows versus Bitcoin — Will ETH price rebound?

Ethereum’s native token, Ether (ETH), continues its multi-month downtrend against Bitcoin (BTC) in March, rising 5.5% versus the latter’s 19.5% gains on a month-to-date (MTD) timeframe. Bitcoin overshadows Ethereum amid banking crisis As of March 23, the ETH/BTC pair was down about 9% month-to-date (MTD) to 0.0633 while staying on course to record its worst month since September 2022 when it fell 11.75%. ETH/BTC monthly price chart. Source: TradingView From a fundamental perspective, traders preferred Bitcoin over Ether, hoping it would protect them from the ongoing banking turmoil in the…

Aave Launches Stablecoin GHO on Ethereum Goerli Testnet with Open Source Codebase and Audits – Altcoins Bitcoin News

Aave Companies, the firm behind the decentralized finance (defi) project Aave, has announced the launch of a stablecoin called GHO on the Ethereum testnet network Goerli. The codebase is available on Github and has undergone audits by Open Zeppelin, Sigmaprime and ABDK. Aave Invites Programmers to Test GHO Before Mainnet Deployment On Thursday, Aave Companies announced the launch of its native stablecoin GHO on the Ethereum Goerli testnet. The company also released the open-source codebase on Github. The developers of Aave are inviting programmers and prospective integrators to begin testing…

Ethereum Classic’s Hashrate and Price Trend Lower After Ethereum PoW to PoS Transition – Altcoins Bitcoin News

Just before the Ethereum network transitioned from a proof-of-work (PoW) blockchain to proof-of-stake (PoS), Ethereum Classic’s hashrate saw a significant increase. Three days after The Merge, Ethereum Classic had 214.37 terahash per second (TH/s) of hashrate. However, since then, the network’s hashrate has decreased significantly as 44.33% of it has been lost over the last 134 days. Ethereum Classic Loses Luster After The Merge Ethereum Classic (ETC) was the center of attention just before Ethereum’s (ETH) big transition, but has since lost its PoW dance partner. Since Ethereum’s transition from…

Ethereum Price Accelerates Higher as The Bulls Aim $1,720

Ethereum climbed higher above the $1,500 resistance zone against the US Dollar. ETH is consolidating gains and might rise further towards the $1,650 level. Ethereum started a fresh increase above the $1,450 and $1,500 resistance levels. The price is now trading above $1,500 and the 100 hourly simple moving average. There is a major bullish trend line forming with support near $1,540 on the hourly chart of ETH/USD (data feed via Kraken). The pair could rise further unless there is a downside correction below the $1,540 support. Ethereum Price Signals…

Ethereum Price Looks Ready For Another Leg Higher Over $1,300

Ethereum was able to clear the $1,240 resistance zone against the US Dollar. ETH is showing positive signs and there might be a move above the $1,300 resistance. Ethereum is moving higher above the $1,220 and $1,240 resistance levels. The price is now trading above $1,220 and the 100 hourly simple moving average. There was a break above a key contracting triangle with resistance near $1,215 on the hourly chart of ETH/USD (data feed via Kraken). The pair could rise further if there is a clear move above the $1,300…

‘Ethereum Killers’ Managed to ‘Kill’ Themselves in 2022 Rather Than Beat the Smart Contract Economy’s Heavyweight Champ – Altcoins Bitcoin News

At the end of 2021, a myriad of people thought a handful of smart contract platform tokens, often referred to as ‘Ethereum killers,’ would flip the second-largest crypto asset in terms of market capitalization in 2022. As 2022 comes to an end, statistics show that none of the so-called ‘Ethereum killers’ have surpassed the leading smart contract platform token, and a number of these tokens have lost considerable amounts of value during the crypto winter. Ethereum Outperformed Its Competitors in terms of Market Cap, Decentralized Finance Action, and Non-Fungible Token…

Ethereum Price Signals Bearish Moves, Test of $1,100 Seems Possible

Ethereum is still showing bearish signs below the $1,200 zone against the US Dollar. ETH could continue to move down below the $1,180 support zone. Ethereum is attempting a minor upside correction towards the $1,200 barrier. The price is now trading below $1,200 and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $1,195 on the hourly chart of ETH/USD (data feed via Kraken). The pair remains at a risk of a larger decline towards the $1,100 level or even…

Ethereum Price Downtrend Intact for this Reason, Market Muted

Ethereum is still consolidating below the $1,230 resistance against the US Dollar. ETH could react to the downside if it stays below $1,230 for a long time. Ethereum is attempting an upside break above the $1,230 resistance zone. The price is now trading above $1,200 and the 100 hourly simple moving average. There was a break above a connecting bearish trend line with resistance near $1,218 on the hourly chart of ETH/USD (data feed via Kraken). The pair could gain bullish momentum if there is a close above $1,230 and…