| 
| Ethereum 
| #ETH
| Ξ
|
| ETH Price: | $1,838 | | Volume: | $4.0 B | | All Time High: | $4,861 | | Market Cap: | $219 B |
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| Circulating Supply: | 118,994,412 |
| Exchanges: | 328
| | Total Supply: | 118,994,412 |
| Markets: | 5562
| | Max Supply: | — |
| Pairs: | 3045
|
|
The price of #ETH today is $1,838 USD.
The lowest ETH price for this period was $0, the highest was $1,838, and the exact current price of one ETH crypto coin is $1,838.05744.
The all-time high ETH coin price was $4,861.
Use our custom price calculator to see the hypothetical price of ETH with market cap of BNB or other crypto coins. |
The code for Ethereum is #ETH, and the symbol for #ETH is Ξ.
Ethereum is 7.9 years old. |
The current market capitalization for Ethereum is $218,718,564,251.
Ethereum is ranked #2 out of all coins, by market cap (and other factors). |
There is a huge daily trading volume on #ETH.
Today's 24-hour trading volume across all exchanges for Ethereum is $3,985,963,950. |
| The circulating supply of ETH is 118,994,412 coins, which is 100% of the total coin supply. |
ETH is the native coin for the Ethereum blockchain.
View the full list of Ethereum blockchain tokens. |
ETH is well integrated with very many pairings with other cryptocurrencies and is listed on at least 328 crypto exchanges.
View #ETH trading pairs and crypto exchanges that currently support #ETH purchase. |
 | What Ethereum Needs to Rise Above $2000: Bloomberg Analyst
Ethereum (ETH) appears trapped under $2000 after a stock rally has failed to push it past the price point, according to Mike McGlone, Senior Macro Strategist for Bloomberg Intelligence.
Here’s what the analyst believes Ethereum needs to break the 12-month-long resistance level.
Ethereum’s Major Resistance
In a tweet on Thursday, McGlone said that $2000 looks like a “resistance ceiling” given that ETH has failed to sustain itself above that, despite the NASDAQ 100 stock index tapping a 52-week high in Q2.
Historically, the correlation between cryptocurrencies and high-beta tech stocks has been strong. This was especially true in June 2022 when both asset classes cratered under macroeconomic pressure, and ETH lost its $2000 level.
Divergent Weakness and #Ethereum's $2,000 Ceiling - The inability of Ethereum to stay above $2,000 despite a 52-week high in the #Nasdaq 100 Stock Index in 2Q may portend a resistance ceiling for the crypto. The token may depend on the stock index to lift all boats. pic.twitter.com/Q5dBSo4fTo
— Mike McGlone (@mikemcglone11) June 8, 2023
“The token may depend on the stock index to lift all boats,” added McGlone.
Besides their concrete correlation, investors have often compared Ethereum and altcoins to tech securities from an investor’s point of view.
Bill Miller, for instance – a famous investor known for outperforming the stock market for over a decade &nda...
|  | Ethereum Staked on Coinbase Sees Massive Redemptions, Over 27,000 Tokens...
Recent statistics reveal that a significant amount of ethereum staked on Coinbase has been redeemed, with 27,280 tokens being redeemed on June 6. This development comes in the wake of the U.S. Securities and Exchange Commission (SEC) filing a lawsuit against Coinbase for not registering its staking-as-a-service program.Redemptions Soar on Coinbase Amidst SEC Lawsuit Fallout
June 6, 2023, marked a pivotal moment for Coinbase as the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against the San Francisco-based exchange. One of the SEC's complaints alleges that Coinbase neglected to register its staking-as-a-service platform. In the aftermath of this legal action, Dune Analytics has recorded tens of thousands of redemptions for Coinbase's CBETH, the exchange's staked ether product.
On that day, a staggering 27,280 CBETH was redeemed, followed by nearly 9,000 CBETH the next day, according to recent statistics. As of today, June 8, over 3,400 CBETH has already been redeemed. It's worth noting that Coinbase, the second-largest liquid staking service provider in terms of ETH held, has locked up 1,106,424 ether.
Coinbase's stash of ether is currently valued at $2.12 billion, based on current exchange rates. Out of the 20 liquid staking providers, Coinbase's CBETH accounts for a significant 11.46% of the 9,650,762 ETH locked into these decentralized finance (defi) protocols. Although Coinbase's market share is substantial, it pales in comparison to the size of Lido Fina...
|  | ETH Trapped in a Narrow Range as $2K Remains Critical Bullish Target (Et...
Ethereum's price finds itself tightly confined within a narrow range, hemmed in by the upper boundary of the descending flag and the 100-day moving average. However, this narrow range is on the verge of being breached, indicating an imminent direction for its next move.
Technical Analysis
By Shayan
The Daily Chart
Zooming in on the daily chart, Ethereum has been struggling with the 100-day moving average for an extended period, failing to break below it. Presently, the price sits within a tight range between the 100-day moving average at $1814 and the upper trendline of the descending flag, approximately at $1880.
However, the price is poised to break out of this critical range, which will determine the trajectory of its next movement. If it surges above the descending trendline, Ethereum's price will aim for the significant resistance zone around $2K. Conversely, a drop below the 100-day MA will lead to a cascade toward the next support level at roughly $1.7K.
Source: TradingView
The 4-Hour Chart
Shifting the focus to the 4-hour chart, it becomes evident that Ethereum has been trapped within a consolidation range, bounded by the static resistance zone at $2K and the static support region at $1.7K. This range has persisted for several months following unsuccessful attempts to break out.
However, Ethereum's price also encounters a dynamic support level at the lower boundary of the ascending channel, presently at $1.8K. The cryptocurrency seems likely to remain confined within ...
|  | Bitcoin, Ethereum Technical Analysis: BTC Consolidates Close to $26,300 ...
Bitcoin consolidated close to a key price floor of $26,300 on Thursday, as a downward death cross sent the cryptocurrency lower. Overall sentiment in the market remains lower, with the global cryptocurrency market cap falling by 1.58% as of writing. Ethereum also declined, after nearing a move above $1,900 on Wednesday.Bitcoin
Bitcoin (BTC) consolidated during Thursday's session, as market volatility remained high ahead of next week's Federal Reserve interest rate decision.
BTC/USD slipped to a low of $26,146.99 earlier in the day, which comes less than 24 hours after trading at $26,897.25.
Today's move saw the world's largest cryptocurrency briefly break out of a key support point at $26,300.
Since this earlier fall, BTC bulls have moved to buy the dip in price, with the cryptocurrency now once again above this floor.
This comes as the relative strength index (RSI) pivots from a recent free fall, and is now en route to a ceiling at 47.00.
At the time of writing, the index is tracking at 44.87, which comes as the 10-day (red) moving average fell below its 25-day (blue) counterpart.
Ethereum
Additionally, ethereum (ETH) edged lower in today's session, a day after prices neared a breakout above the $1,900 level.
Following a high of $1,896 on Wednesday, ETH/USD dropped to an intraday low of $1,822.30.
As a result of this decline, ethereum moved below a key support point of $1,830, before bulls moved to stabilize this level.
From the chart, it appears that bulls decided to ree...
|  | Bitcoin, Ethereum Technical Analysis: ETH Nears $1,900, as BTC Rebounds ...
Bitcoin rebounded from a near three-month low on Wednesday, as traders moved to buy the latest price dip. Yesterday's decline came as the U.S. Securities and Exchange Commission sued both Binance and Coinbase. Ethereum moved closer to $1,900 in today's session.Bitcoin
Bitcoin (BTC) bounced back above the $27,000 level on Wednesday, as traders moved to buy the recent dip in price.
Following a low of $25,434.87 on Tuesday, BTC/USD raced to an intraday high of $27,332.18 in today's session.
This move saw bitcoin climb away from its weakest point since March 17, when it was at a low of $24,946.
Bitcoin chart by TradingView
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Overall, price has also risen back above a key support point at $26,300, with the relative strength index (RSI) hovering near a similar area.
At the time of writing, price strength is tracking at 45.67, which is below a resistance level of 47.00.
The 10-day (red) moving average also remains above its 25-day (blue) counterpart, which could be a positive sign for longer-term bulls.
Ethereum
Ethereum (ETH) also made strong gains in today's session, with prices closing in on a reentry above the $1,900 level.
ETH/USD hit a peak of $1,896.22 on Wednesday, which comes less than 24 ...
|  | Binance Records Significant Outflows of BTC, ETH, and Stablecoins Exceed...
Binance, the world's largest cryptocurrency exchange by trade volume, saw significant outflows of bitcoin, ethereum, and stablecoins starting on June 3, 2023, according to data from cryptoquant.com. In the past 68 hours, Binance has seen bitcoin outflows of around 15,438 BTC worth more than $420 million.SEC Lawsuit Against Binance Results in Significant Outflows
Amid the U.S. Securities and Exchange Commission's (SEC) lawsuit against Binance and the SEC's request to freeze assets belonging to Binance US, the exchange has experienced significant outflows.
As of June 6, 2023, at 9 p.m. ET, Binance has seen $10.30 billion in 24-hour trade volume worldwide. According to statistics recorded by coingecko.com, a significant portion of Binance's volume comes from BTC/USDT and BTC/TUSD trading pairs.
According to data from cryptoquant.com, Binance has experienced a significant outflow of BTC, ETH, and stablecoins from the platform. The outflow began leaving Binance reserves approximately 68 hours ago on June 3, 2023.
On that day, Cryptoquant's metrics indicate that Binance held 615,045 bitcoin (BTC) in reserves. Currently, the stash of BTC has decreased to 599,607, resulting in a loss of 15,438 BTC worth more than $420 million using current BTC exchange rates.
Reportedly, Binance held 4.441 million ether as of June 3. Since then, approximately 157,218 ETH has been removed from the exchange's reserves, resulting in a reserve balance of just over 4.28 million ether.
Although the remov...
|  | Ethereum Scaling Solution Aurora Unveils 'Strategic Partnership' for Web...
Aurora - an Ethereum Virtual Machine (EVM) compatible scaling and bridge solution built on top of the NEAR Protocol blockchain network - announced a strategic partnership with blockchain-based employment cooperative for the Web3 ecosystem called Opolios.
Aurora-Opolios Partnership
According to the official press release shared with CryptoPotato, the latest integration will enable USDC payments on the Aurora network for independent workers to ramp up payment processes, increase flexibility, and provide greater access to compensate workers in preferred currencies.
This partnership between Aurora and Opolios is also expected to positively affect both Web3 businesses as well as independent workers that function across the world to manage their payrolls in a more efficient way.
Members of Opolios will also be able to receive payments on-chain in USDC.e or USDC on the Aurora Network. On the other hand, the businesses operating within the Aurora ecosystem will be able to leverage the Opolis platform to streamline payments for freelancers and fund payroll. Such a move could potentially fuel increased 'financial flexibility' along with 'operational efficiency.'
Commenting on the latest development, Anton Paisov, Head of Integrations at Aurora, stated,
'We’re on the brink of a workplace revolution that will provide workers greater autonomy, flexibility, and satisfaction than a traditional ‘career’ ever could. What Opolis wants to do is empower people to work the way t...
|  | Bitcoin, Ethereum Technical Analysis: BTC Falls Below $26,000, as SEC Su...
Bitcoin plunged to its lowest point in over two months, as markets continue to react to the SEC versus Binance lawsuit. The Securities and Exchange Commission (SEC) is suing the crypto exchange for violation of U.S securities laws. Ethereum was also in the red, dropping below $1,800 in the process.Bitcoin
Bitcoin (BTC) sank to a multi-month low on Tuesday, as markets reacted to the news that has been sued by the SEC.
BTC/USD dropped to a bottom at $25,445.17 earlier in today's session, a day after trading at a high of $26,810.22.
This decline pushed bitcoin to its weakest point since March 17, when it was at a low of $24,946.
Looking at the chart, the drop in price coincided with the 14-day relative strength index (RSI) falling below a floor at 38.00.
At the time of writing, the index is tracking at 36.12, its weakest point since mid-March.
Despite a recent upwards crossover of moving averages (MA), the 10-day trendline has now firmly shifted direction.
Ethereum
Additionally, ethereum (ETH) was also a victim of the recent storm surrounding the market, with prices dropping below $1,800.
Following a high at $1,870.82 to start the week, ETH/USD slipped to an intraday low of $1,780.21 earlier today.
In comparison to BTC, the decline in ETH was relatively muted, with prices hitting a ten-day low.
Overall, ethereum is now down by 6% in the last seven days, while bitcoin has lost over 8% of its value within that same period.
On the other hand, ethereum's RSI reading currently sit...
|  | Ethereum Transaction Fees Drop by 80% as PEPE Enters a Slumber
Ethereum gas fees spiked to their highest level since 2022 following May's memecoin comeback championed by the emergence of 'Pepe the frog' themed altcoin, PEPE. This trend, however, appears to have slowed down amidst a waning interest in PEPE despite transforming several investors into overnight millionaires.
According to new data by on-chain analytic firm IntoTheBlock, the total Ethereum transaction fees declined by more than 16% this week alone.
Total Ethereum transaction fees dropped by 16.5% this week! May's meme token mania that fueled the recent fee spike seems to be receding into crypto history. #Ethereum pic.twitter.com/QuKgve8wNM
— IntoTheBlock (@intotheblock) June 2, 2023
On zooming out, the transaction fee dropped by 80% over one month from $27.62 on May 5th to $5.50 as of June 4th. The figure is currently hovering near a level last seen during mid-April.
The latest development comes as a major respite for the blockchain, whose critics have forever deemed the exorbitant gas fee as its 'fatal flaw.'
Apart from mainnet, Ethereum layer 2 scaling solutions were also hit by surging transaction fees during the memecoin renaissance last month.
Notable spikes were seen particularly on chains built using zero-knowledge proofs such as Polygon zkEVM and zkSync Era. In fact, the cost of a single transaction on these rollups ranged between $2 to $11, temporarily rising as high as $30.
Pepe's market cap, on the other hand, witnessed a significant drawdown from $1.15 bi...
|  | Bitcoin, Ethereum Technical Analysis: BTC, ETH Start the Week Lower, as ...
Cryptocurrency markets consolidated to start the week, with bitcoin trading below the $27,000 mark during today's session. Volatility has been significantly higher in the past few days, as the unemployment rate in the United States surged to a multi-month high.
Bitcoin
Bitcoin (BTC) was trading below the $27,000 level on Monday, as crypto market volatility remained high to start the week.
Following a high of $27,407.02 on Sunday, BTC/USD slipped to an intraday low of $26,712.73 earlier in today's session.
As a result of the move, the relative strength index (RSI) fell below a recent support point at the 47.00 level.
Bitcoin chart by TradingView
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The index is now tracking at 44.43, which is marginally above an upcoming floor at the 43.00 mark.
Should bears retreat to this point, there is a strong possibility that BTC could collide with a floor of its own at $26,300.
Despite this, there is still some optimism from bulls that a recent upwards cross of moving averages could point to an upcoming shift in momentum.
Ethereum
Ethereum (ETH) also suffered from the day's volatility, with prices once again moving below $1,900.
ETH/USD dropped to a bottom at $1,864.17 to start the week, which comes a ...
|  | Ethereum Validator Activation Queue Grows: 90,000+ Validators Waiting in...
Ethereum faces congestion for validators to enter and begin staking in the protocol. According to data from Wenmerge, an information dashboard, more than 90,000 validators are waiting to provide protocol validation services on Ethereum. This means a validator entering the queue today must wait more than 46 days to be activated and begin its tasks.Ethereum Validator Queue Grows Congested
Ethereum, the second largest cryptocurrency by market cap, is experiencing a boom in entities trying to provide validation services for its blockchain. The number of validators now waiting in line to start these services on top of Ethereum is over 90,000, with the queue experiencing a rise since the Shapella update, which opened the way for Ethereum withdrawals.
This growth in the number of validators waiting in the queue also determines an increase in the waiting times for such validators to start their tasks. If a validator applies to be activated now, it will have to wait at least 46 days to provide validation services for the Ethereum blockchain.
According to reports, this is related to the staking strategy that Celsius, the former cryptocurrency lender, is executing. On June 1, Tom Wan, an onchain analyst from 21.co, explained that if Celsius added all of its ether to validate, queue wait times would increase to more than 45 days. By June 4, almost 93% of Celsius' received ether was staked.
In contrast, no validators were waiting in queue to leave the protocol. This allows validators ente...
|  | Etherscan Launches Advanced Filter for Enhanced Ethereum Blockchain Expl...
On June 2, 2023, the Ethereum blockchain explorer and insights web portal, Etherscan, released a new feature that allows users to refine their transaction searches with filters. Onchain sleuths, researchers, and investigators can now narrow down the results in a single view using a variety of new filters. Etherscan Introduces Advanced Filtering Tool
Users can now explore the Ethereum blockchain ecosystem and activity in a different manner with the release of Etherscan's new filter update. The new release, known as 'Advanced Filter,' enables users to refine blockchain searches by utilizing specific criteria.
“Advanced Filter enables you to analyse a variety of transactions within a single view,” the team’s Twitter account stated. “Filter by transaction type, function name, duration, amounts, assets and from [and] to addresses.” Etherscan provided an example of exploring the transfers and internal transactions linked to Multichain router version 6 during a seven-day period.
Users of the Advanced Filter feature can also save their filter searches for future reference. Over the past few years, analytics firms and tools, including platforms like defillama.com, arkhamintelligence.com, nansen.ai, and dune.com, have gained popularity among the crypto community by offering onchain insights. Several users and onchain sleuths complimented Etherscan on the launch of the new Advanced Filter tool.
“Etherscan just nuked a few analytics companies with the...
|  | Want to Become an Ethereum Validator? You Have to Wait 45 Days and Here'...
This year, Ethereum's network officially transitioned to a Proof-of-Stake consensus algorithm, leaving Proof-of-Work forever behind.
One of the multiple implications The Merge has had on the protocol is that there are no longer Ethereum miners. Validators secure the network now, and the path to becoming one is supposed to be tremendously simplified - deposit 32 ETH to the staking contract and run the appropriate software.
But it turns out that there's quite a queue for validators lined up, and becoming one might take some time.
45 Days to Become an Ethereum Validator
You read that right - if you have ETH to spare and you want to invest in securing the network and earn rewards for this important task, you'd have to wait... a lot.
It appears that becoming a validator is something so sought after that the queue keeps on increasing.
Data from WenMerge shows that there are 92,536 validators currently waiting to enter the network. This will take approximately 45 days to clean up.
The competition is so high, and it appears that practically nobody wants to exit. The exit queue currently consists of only 4 validators.
Celsius Enters the Queue
The embattled cryptocurrency lender is part of the reason why the queue is stretched out.
Throughout the past couple of days, Celsius Network has moved some $600 million worth of ETH into the staking contract and this rate shows no signs of slowing down, according to Arkham Intelligence.
Celsius is making moves to stake all the ETH the...
|  | Former Ethereum Miner CoreWeave Inks an AI Deal With Microsoft
The cryptocurrency industry continues to comingle with that of artificial intelligence in what is reported as a new deal between tech heavyweight Microsoft and former Ethereum miner - CoreWeave.
According to recent coverage by CNBC, Microsoft has signed a deal with the former Ethereum miner - CoreWeave.
It's worth noting that CoreWeave has spun up its usage of cloud computing infrastructure from Ethereum mining and is currently one of the rapidly developing providers.
It recently attained a valuation of $2 billion.
The financials of the deal with Microsoft haven't been disclosed, but according to sources familiar with the matter and cited by CNBC, the tech behemoth has agreed to spend 'potentially billions of dollars over multiple years.'
At the beginning of 2023, Microsoft also invested a whopping $10 billion in OpenAI - the firm behind the popular AI-based chatbot ChatGPT.
Sam Altman - the CEO of OpenAI - in turn, is now spearheading a cryptocurrency project called Worldcoin. He was successful in securing funding of $115 million to build the project, which involves high-precision retina scans and is backed by crypto's most prominent VCs.
Featured image courtesy of CNET
The post Former Ethereum Miner CoreWeave Inks an AI Deal With Microsoft appeared first on CryptoPotato.
|  | Biggest Movers: TRX Hits 1-Year High, Following Integration on Ethereum ...
Tron rose to a one-year high to start the weekend, as founder Justin Sun confirmed an integration to the ethereum blockchain network. In a tweet, Sun said, 'TRON has now expanded its reach by going live on the Ethereum blockchain by leveraging the BitTorrent bridge.' Tron (TRX)
Tron (TRX) was one the biggest movers on Saturday, with prices rising by as much as 11% in today's session.
Following a low of $0.0762 on Friday, TRX/USD raced to an intraday peak of $0.08545 earlier in today's session.
As a result of the surge, the token, which recently registered a record number of daily transactions, hit its highest point since June 2 last year.
Overall, tron is up 12.16% in the last seven days, with the latest rally leading to a breakout of a ceiling at $0.0796
The relative strength index (RSI) also moved above a resistance level of its own at 70.00, and is now tracking at 75.77.
Should this uptrend continue, there is a good chance that bulls will attempt to take the index to a higher ceiling at 79.00.
XRP
XRP, formerly ripple, hit a multi-week high to start the weekend, colliding with a key price ceiling in the process.
XRP/USD surged to a high of $0.5299 earlier on Saturday, which comes following yesterday's low of $0.5137.
This move led to the token nearing a collision with a resistance level at $0.5300, securing its highest point since April 19 in the process.
Following this, prices have since slipped, with earlier bulls seemingly opting to secure gains.
At the time of writi...
|  | Bitcoin, Ethereum Technical Analysis: BTC Consolidates on Saturday, Desp...
Bitcoin started the weekend in the red, as markets continued to digest the latest nonfarm payrolls in the United States. Despite payrolls coming in better than expected, the unemployment rate also rose, hitting 3.7%, which is its highest point since last October.Bitcoin
Bitcoin (BTC) was mostly consolidating to start the weekend, as traders continued to digest the latest U.S. nonfarm payrolls data.
Payrolls rose to 339,000 last month, which was higher than the 190,000 markets were expecting.
Following a low of $26,898.00 on Friday, BTC/USD is trading at $27,149.78 at the time of writing.
For many, a recent upward crossover of the 10-day (red) and 25-day (blue) moving averages was a signal that bullish momentum was set to return.
However, yesterday's economic data has added more questions than provided answers, as to what the Federal Reserve could do in its upcoming meeting.
A ceiling at $27,300 remains a key hurdle for bulls to overcome, and should this occur, the chances of a move to $28,000 will increase.
Ethereum
Ethereum (ETH) briefly broke out of the $1,900 level to start the weekend. However, it has since rebounded.
ETH/USD bounced to a peak of $1,910.28 on Saturday, after an earlier move which saw it land at a bottom at $1,878.61.
At the time of writing, ethereum is trading at $1,903.70, with prices 0.63% higher than the aforementioned low.
In order to increase this percentage, the relative strength index (RSI) will need to rise above a ceiling at 49.00.
The index i...
|  | Bitcoin, Ethereum Technical Analysis: ETH Nears $1,900, BTC Climbs Above...
On Friday, bullish sentiment returned to cryptocurrency markets, as the U.S. Senate approved the bill to increase the debt ceiling. Bitcoin rose back above $27,000 on the news, snapping a four-day losing streak. Ethereum neared the $1,900 level. Bitcoin
Bitcoin (BTC) snapped a four-day losing streak on Friday, after it was reported that the U.S. Senate had passed the bill to increase the debt ceiling.
This comes ahead of Monday's deadline, which could have resulted in the government running out of cash, had the bill not been approved.
Following the news, BTC/USD raced to a peak of $27,203.32, which comes a day after dropping to a bottom at $26,574.64.
Bitcoin chart by TradingView
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Overall, it appears that this move took place after bears were unable to break a long-term floor at $26,500, prompting bulls to reenter the market.
In addition to this, the relative strength index (RSI) moved above a floor of its own at 46.00, and is currently tracking at 48.12.
The next test to see if bitcoin can sustain this momentum will come at the $27,500 ceiling. If passed, there is a good chance that price will be above $28,000 this weekend.
Ethereum
Additionally, ethereum (ETH) also moved higher in today's...
|  | Crypto Price Analysis Jun-2: ETH, XRP, ADA, BNB, and LTC
This week, we take a closer look at Ethereum, Ripple, Cardano, Binance Coin, and Litecoin.
Ethereum (ETH)
Ethereum's volatility spiked this week, and it managed to book a 4% price increase. This puts ETH into an uptrend and confirms the $1,820 level as support.
To remain in the green, ETH will need to break above two key levels, $2,000 and $2,100, which currently act as resistance. Bears did not show any resistance at $2,000 in April but came in strong at $2,100. It remains to be seen if this time will be different.
Looking ahead, buyers have returned to Ethereum. However, it is still too early to tell if they are serious about maintaining this uptrend. A clean breakout above the two key resistance levels would give them full control of the price.
Chart by TradingView
Ripple (XRP)
In a surprising move, XRP has reached 50 cents this week and booked an 11.7% price increase, making it the best performer on our list. The price is now just under the key resistance at 53 cents which has historically pushed back any attempt from buyers to take XRP higher.
In April, sellers came in strong at the current resistance level and did not allow it to move higher. If they reject the price again, then the key support is at 44 cents.
Looking ahead, XRP has a big opportunity to escape its current range established in April and May. If the resistance breaks, then buyers might have a good chance to take XRP to 60 cents next.
Chart by TradingView
Cardano (ADA)
Cardano continues to lag behind when...
|  | ETH Remains Uncertain But $2K Seems a Likely Target: Ethereum Price Anal...
Ethereum has been consolidating within a narrow price range, tightly bound by the upper limit of the descending flag pattern and the 100-day moving average. However, a breakout is imminent and will determine the subsequent direction of the cryptocurrency.
Technical AnalysisBy Shayan
The Daily Chart
Examining the daily chart, Ethereum demonstrated a period of stable price action around the $1790 mark, near the 100-day moving average, before gaining support and embarking on an upward trajectory.
Despite an unsuccessful attempt to breach the flag's upper boundary at $1.9K, resulting in a minor correction, Ethereum's price remains confined within a limited range, approximately between the $1791 level of the 100-day moving average and the dynamic resistance offered by the flag's upper trendline. A breakout from the flag pattern is likely to initiate another rally toward the $2K resistance zone.
Source: TradingView
The 4-Hour Chart
Taking a closer look at the 4-hour chart, three significant price regions present challenges for Ethereum buyers and sellers: the static resistance at $2K, the dynamic resistance from the mid-trendline of the ascending channel, and the dynamic support provided by the channel's lower threshold.
Considering the ongoing price action, it might seem more likely that Ethereum will continue its upward trend, aiming to surpass the $2K resistance level. However, given the current market conditions and prevailing uncertainty among market participants, it is more p...
|  | Will Ethereum Flip Bitcoin? We Put ChatGPT and Google's Bard Against Eac...
Naturally, the question of whether Ethereum will overtake Bitcoin by total market cap is very interesting to crypto investors.
And there are some pretty strong arguments to be made on both sides, which is why we decided to engage with unbiased AI chatbots.
Will Ethereum Bitcoin Flippening Happen?
Bitcoin maxis believe BTC will be the world's most common reserve currency for international trade. In that scenario, Ethereum would have to be some kind of global computer with incredible levels of user adoption. Only if it achieves world-class network activity on its platform would it stand a chance in such a future.
But the flippening of Bitcoin by Ethereum is no idle question. The second largest cryptocurrency by market cap, at its peak levels of market dominance, has comprised as much as 25% of the value of all traded cryptos. That was in 2017. For the past couple of years, the percentage has ranged in the mid to high teens.
Earlier this month, we asked OpenAI's ChatGPT if Ethereum can flip Bitcoin in five years. The short version of ChatGPT's answer? Such an outcome is 'uncertain and depends on various factors.'
Here's what Google AI's Bard chatbot had to say in answer to the same question we put to ChatGPT:
'Do you think Ethereum’s price can flip Bitcoin’s price in the next 5 years?'
The short version of Bard's answer?
'It is possible...'
Google Bard vs. ChatGPT Showdown:
Bard said:
'Ultimately, the question of whether Ethereum will flip Bitcoin will depend on a nu...
|  | Bitcoin, Ethereum Technical Analysis: BTC Drops Below $27,000 Ahead of U...
Bitcoin continued to erase last week's gains on Thursday, as prices dropped for a fourth straight session. The latest decline comes ahead of tomorrow's non-farm payrolls (NFP) report from the United States. Despite today's weakness, ethereum remained above $1,800.Bitcoin
Bitcoin (BTC) moved below the $27,000 level in today's session, ahead of Friday's non-farm payrolls report.
It is expected that the number of jobs added to the U.S. economy will come in at 190,000, less than the 253,000 sum the month prior.
BTC/USD fell to a low of $26,671.72 earlier in the day, which comes following a peak at $27,346.11 the day before.
Looking at the chart, this latest decline occurred as a result of the relative strength index (RSI) falling below a floor of 46.00.
At the time of writing this, the index is now tracking at 44.58, with a support point of 43.00 as a possible target.
Should this level be hit, there is a strong possibility that BTC will hit a floor of its own around $26,300.
Ethereum
Ethereum (ETH) was marginally lower today, however, it managed to remain above the $1,800 level.
Following a high of $1,887.71 on Thursday, ETH/USD declined to an intraday bottom at $1,846.23 earlier in the day.
The move saw ethereum edge towards a key price floor at $1,830, however, bulls have so far resisted this collision.
Similar to BTC, ETH has now fallen for a fourth straight day, with the catalyst being a failed break out of a ceiling at $1,930.
In addition to this, the RSI is now at a read...
|  | Bitcoin, Ethereum Technical Analysis: BTC, ETH Fall Lower, as US Consume...
Bitcoin erased recent gains on Wednesday, as markets reacted to the latest points of U.S. economic data. One of which being consumer confidence, which dropped to a six-month low in May. Ethereum was also lower in today's session, dropping below $1,900. Bitcoin
Bitcoin (BTC) neared a breakout below $27,000 on Wednesday, as markets reacted to the latest data surrounding consumer confidence in the United States.
Following a high of $28,037.69 on Tuesday, BTC/USD slipped to an intraday low of $27,009.69 earlier in the day.
The downturn comes as momentum in the market has slightly shifted, with the global crypto market cap falling by 2.59% as of writing.
Bitcoin chart by TradingView
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Overall, today's decline in BTC comes despite an upcoming crossover between the 10-day (red) and 25-day (blue) moving averages.
From the chart, it appears that a failed breakout of a ceiling at 53.00 on the relative strength index (RSI) played a significant role in this.
The index is now tracking close to a floor at 46.00, with a current reading of 47.10, and should this hold, a reversal is still possible.
Ethereum
Ethereum (ETH) dropped below $1,900 in today's session, as bulls retreated from a recent multi-week hi...
|  | Bitcoin, Ethereum Technical Analysis: BTC Back Above $28,000, as 'Death ...
Bitcoin was once again trading above $28,000 on Tuesday, as the 10-day and 25-day moving averages neared a death cross. The two trend lines have moved closer to one another, with an upwards bullish crossover somewhat imminent. Ethereum was also marginally higher today.Bitcoin
Bitcoin (BTC) jumped back above $28,000 on Tuesday, with a possible death cross signaling upcoming bullish momentum.
BTC/USD hit a peak of $28,044.76 today, following a low at $27,563.88 earlier in the session.
Today's move led to bitcoin remaining close to a three-week high at $28,473, which was marginally below a ceiling at $28,500.
Looking at the chart, Tuesday's rebound comes as the relative strength index (RSI) remained above a floor at 53.00
At the time of writing, the index is now tracking at 54.29, with a ceiling of 57.00 still a possible target for current bulls.
As the session has progressed, earlier gains have somewhat slipped, as market uncertainty remains high.
Ethereum
Ethereum (ETH) was relatively more stable during today's session, remaining above $1,900 for the majority of the day.
Following a low of $1,879.08 on Tuesday, ETH/USD raced to an intraday high of $1,916.57, as the session matured.
Similar to BTC, this move saw ethereum continue to track close to its strongest point since May 8.
An upwards crossover of the 10-day (red) and 25-day (blue) moving averages has already occurred, which could likely entice further bulls to reenter the market.
In the event this happens, a ceiling a...
|  | ETH Pumps 3% Daily but Is $2K Back in the Cards? (Ethereum Price Analysi...
Ethereum has recently flashed a bullish signal by finding support at the 100-day moving average of $1791 and experienced a spike in its price. Also, it has now encountered a crucial resistance level, and surpassing it would likely trigger another surge.
Technical Analysis
By Shayan
The Daily Chart
Ethereum had a period of steady price action around the 100-day moving average of $1790 before finding support and proceeding upward.
However, during the recent consolidation correction phase since mid-April, the price formed a descending wedge pattern (marked by yellow).
Presently, the price has reached the upper boundary of the wedge at $1.9K due to its recent surge and is on the verge of surpassing this critical level.
Ethereum's price is currently confined within a narrow range, between approximately $1791 and the static resistance zone of $2K. A breakout from the wedge is likely to trigger another rally toward the $2K resistance zone.
Source: TradingView
The 4-Hour Chart
Zooming in on the 4-hour chart, we can identify three crucial price regions: the static resistance at $2K, the dynamic resistance of the ascending channel's trend-line midpoint, and the static support at $1710.
Based on the current price action, the price seems more likely to continue its upward trend toward the $2K resistance and attempt to break out. However, considering the current market conditions and the prevailing uncertainty among participants, it is also likely that a consolidation phase between the $2...
|  | Bitcoin, Ethereum Technical Analysis: BTC Above $28,000 as Biden Announc...
Bitcoin climbed above the $28,000 level on Monday, as U.S. President Joe Biden confirmed that a deal was agreed in principle. Biden labeled the agreement a 'compromise,' with Republican Kevin McCarthy calling it 'historic.' Ethereum was also higher on the news, hitting a three-week peak.Bitcoin
Bitcoin (BTC) rose above the $28,000 to start the week, as crypto markets reacted to an apparent agreement to increase the U.S. debt ceiling.
Following a low of $27,125.53 on Sunday, BTC/USD raced to a peak of $28,432.04 earlier in today's session.
As a result of today's rally, bitcoin moved to its highest point since May 8, when price reached a high of $28,676.
Bitcoin chart by TradingView
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Overall, it appears that the latest move took place once the relative strength index (RSI) broke out of a ceiling at 53.00.
Price strength has since climbed, and the index is currently tracking at 54.92, with the next point of resistance at 57.00.
Should this momentum continue to increase, there is a good chance that BTC will move above the $29,000 mark.
Ethereum
In addition to BTC, ethereum (ETH) also moved higher on Monday, climbing above the $1,900 level.
ETH/USD jumped to an intraday high of $1,926.42 earlie...
|  | Burning Metrics: Ethereum Burns 3.33 Million Ether Valued at $6.1 Billio...
In the past 21 months following Ethereum's London hard fork, the network has witnessed the destruction of over 3.33 million ether, valued at $6.1 billion. At present, roughly 3.51 ether is burned every single minute. Standing out as a prominent participant in the burn process since August 5, 2021, just below conventional ETH transfers, is the Opensea platform, which has contributed to the burning of 230,050 ETH.More Than $6 Billion in Value Destroyed Since EIP-1559
Back on August 5, 2021, a significant event occurred in Ethereum's history with the implementation of the Ethereum Improvement Proposal (EIP) 1559 as part of the London upgrade. Since then, 660 days have passed. In the initial three months alone, over 700,000 ether was burned, setting the stage for what was to come.
Fast forward to the end of May 2023, utilizing the latest burn metrics, EIP-1559 has fueled the burning of 3.33 million ethereum (ETH) with a value of $6.1 billion, reflecting current ether exchange rates. Since the upgrade, the primary driving force behind this burning lies in the everyday traditional transfers of ether.
Figures reveal that conventional ether transactions have led to the destruction of a substantial sum of 285,576 ether, valued at $522 million. Notably, the Opensea platform stands as the second largest contributor to this burning since August 2021, with 230,050 ETH going up in flames as a result of associated transactions.
Equally noteworthy, transactions associated with Uniswap v2 ha...
|  | Dogecoin's Transaction Surge Surpasses Bitcoin and Ethereum With 2 Milli...
The Dogecoin blockchain has witnessed a significant surge in transaction activity ever since the inception of DRC20 tokens. When compared to other prominent networks, Dogecoin has stood out with its substantial volume of processed transactions. Recent statistics reveal an unprecedented milestone reached on May 27, 2023, as the number of DOGE transactions soared to a record-breaking high of more than 2 million.Dogecoin’s Transfer Activity Skyrockets, Hashrate Climbs More Than 38%
The leading meme coin network, Dogecoin, has been leaving behind network giants like Bitcoin and Ethereum in the race for daily transaction settlements. While Bitcoin has averaged around 400,000 to 532,000 confirmed transactions per day over the past week, and Ethereum has been processing approximately a million transfers daily, Dogecoin has surpassed them both.
Since May 22, the Dogecoin network has consistently confirmed over a million transactions each day, reaching 1.42 million on May 23. Saturday, May 27 witnessed a milestone for the Dogecoin network as it soared to an all-time high, processing 2,079,070 transactions.
Today, on May 28, 2023, the network shows no signs of slowing down, with the transaction count already surpassing the million mark and continuing to climb. The surge in DOGE transactions can be attributed to the introduction of DRC20 tokens, akin to the BRC20 tokens minted on the Bitcoin blockchain.
The realm of DRC20 tokens is expansive, but their current values lack the ind...
|  | 4,000 ETH ($7.5M) Compromised Following Latest DeFi Exploit
It appears that the DeFi industry continues to be a prime target for hackers.
On the morning of May 28th, another exploit took place, this time taking aim at liquidity platform Jimbos Protocol.
Jimbos Protocol got exploited today - May 28th.
According to an update by PeckShield, the hack resulted in a loss of around 4,000 ETH, worth some $7.5 million at the time of the incident.
Per PeckShield:
This hack is due to the lack of slippage control of liquidity-shifting operation - such that the protocol-owned liquidity is invested into a skewed/imbalanced price range, which is exploited in reverse swap for profit.
It appears today's @jimbosprotocol hack leads to the 4090 ETH loss (w/ ~$7.5M).
This hack is due to the lack of slippage control of liquidity-shifting operation — such that the protocol-owned liquidity is invested into a skewed/imbalanced price range, which is exploited in… https://t.co/wnQAeksojz pic.twitter.com/TPlqNlvnZD
— PeckShield Inc. (@peckshield) May 28, 2023
The team has already addressed the issue and is supposedly working to investigate and get in touch with the exploiter.
The post 4,000 ETH ($7.5M) Compromised Following Latest DeFi Exploit appeared first on CryptoPotato.
|  | Bitcoin, Ethereum Technical Analysis: BTC Nears $27,000 as Market Reacts...
Bitcoin moved closer to the $27,000 level on Saturday, as markets continued to react to the latest Personal Consumption data from the United States. The key inflation index rose to 4.4% in April, higher than expectations of a drop to 3.9%. Ethereum also edged higher.Bitcoin
Bitcoin (BTC) rallied towards $27,000 to start the weekend, as prices reacted to the latest Personal Consumption data in the United States.
BTC/USD climbed to a peak of $26,916.67 earlier in today's session, which came a day after trading at a low of $26,370.55.
The move sees bitcoin climb for a third straight session, moving past a floor at $26,3000 in the process.
From the chart, the latest surge in price came as the 14-day relative strength index (RSI) bounced from a support point at 39.00.
At the time of writing this, the index is now tracking at 43.02, with the next visible point of resistance at 45.00.
Should this point be broken, then there is a strong possibility that BTC will move back over the $27,000 level.
Ethereum
In addition to BTC, ethereum (ETH) also moved higher on Saturday, remaining above the $1,800 level.
Following a low of $1,810.37 on Friday, ETH/USD managed to hit an intraday high of $1,837.87 earlier in the day.
This surge led to the world's second-largest cryptocurrency breaking out of its recent ceiling of $1,830.
However, as the day has progressed, earlier gains have somewhat fallen, with ETH now trading at $1,828.18.
It appears that market uncertainty has also risen, as the R...
|  | Ether (ETH) Stored on Centralized Exchanges Hits 5-Year Low: Data
Ether balance on the centralized crypto exchanges has reached a five-year low. According to the latest data from Glassnode, there are currently 17.8 million ETH on exchanges - a level not seen since July 2016.
This figure essentially represents less than 15% of the Ethereum network's total token supply. To put things into perspective, the exchange balance was recorded to be around 26% during 2021's bull market.
ETH Stored on Centralized Exchanges. Source: Glassnode
Such a trend is typically deemed bullish as it means the supply of the crypto-asset available for purchase is limited. Additionally, there's not a lot of ETH ready to be sold immediately on CEXs.
ETH supply on exchanges began dropping in September 2022. The decline was even more pronounced after FTX slid into bankruptcy two months later as the subsequent events shook investor confidence in centralized custodians.
However, the decreasing ETH balances on exchanges this month coincides with a rise in staking. As such, the figures for staked ETH have increased from 19.3 million before the Shapella upgrade to more than 21.3 million since the beginning of May.
The upgrade on April 12 essentially enabled validators to withdraw their staked Ether from the Beacon Chain after three years. Notably, more and more validators have re-staked their ETH, thereby triggering a decline in the supply of the token can be considered bullish for its price trajectory.
CryptoPotato earlier reported that the Ether staking ...
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