ETH/BTC Pair Faces Downward Trend Crypto expert Benjamin Cowen warns that the Ethereum/Bitcoin (ETH/BTC) pair is currently in a downtrend. He notes that in the past, similar declines have led to a 70% drop in ETHUSD. Cowen believes it’s crucial to caution the community about the potential for further downside risk, especially since the crypto…
Network Surge Ethereum’s network is seeing a surge in activity, with over 200,000 new addresses created on May 4th. This is the highest single-day growth in almost two years. The surge suggests growing interest in Ethereum, driven by DeFi and NFTs. Price Dip: Opportunity or Risk? Despite the network growth, Ethereum’s price has dipped to…
Ethereum has been underperforming lately, leaving investors wondering if its days as a top cryptocurrency are numbered. Weak Fundamentals Ethereum’s price has been stuck around $3,100, showing a lack of upward momentum. The cryptocurrency is closely tied to Bitcoin but has been underperforming despite Bitcoin’s record highs. Ethereum’s failure to deliver timely upgrades, such as…
Ethereum’s Ongoing Volatility The crypto market has been a rollercoaster lately, with Bitcoin and Ethereum moving in different directions. Bitcoin seems to be settling down, but Ethereum is still facing a lot of uncertainty, especially in the options market. Implied Volatility: A Measure of Uncertainty Implied volatility (IV) shows how much investors expect an asset’s…
The Whale’s Big Trade An Ethereum whale made a savvy move last year, buying 12,906 ETH for $24.39 million. Fast forward to today, with Ethereum trading at $3,100, that investment is now worth over $40 million, netting the whale a cool $16 million profit. Staking Rewards Boost But wait, there’s more! The whale staked those…
Ethereum, the second-largest cryptocurrency, has been facing uncertainty after a sharp price drop. Investors are worried as whales (large investors) are selling their Ethereum. Ethereum’s Struggles Ethereum’s price has been volatile, reaching highs in late 2021 but then crashing. It’s now hovering around $3,077, far from its peak. This is making investors, especially whales, nervous….
Declining Network Activity Dampens ETH Burn Ethereum’s burn rate has hit a yearly low in April due to a drop in network transaction fees. This means fewer ETH coins are being destroyed, which could impact Ethereum’s deflationary model. Layer 2 Solutions and Innovations Lower Gas Fees The migration of network activity to Layer 2 solutions…
Analyst’s Forecast Crypto analyst Benjamin Cowen believes Ethereum (ETH) has yet to hit its lowest point against Bitcoin (BTC). He draws parallels to the market in 2019, when a bounce in the ETH/BTC ratio preceded a rate cut by the Federal Reserve (FED). Cowen predicts that the ETH/BTC ratio will bottom out when the FED…
Ethereum (ETH), the second-largest cryptocurrency, has shown signs of life by rising above $3,300. This move may indicate a trend reversal for ETH, supported by several bullish signals. Bullish Chart Indicators MACD: Signals have reversed upward, indicating an end to the decline. Ethereum Dominance: Confirmed three bottoms and rebounded strongly. Notably: Ethereum’s price rebound has…
Ethereum, the second-biggest cryptocurrency, has seen its transaction fees plummet to a record low of $1.12. Fees as a Market Mood Indicator Crypto analysts believe that transaction fees reflect the overall sentiment in the market. When investors are bullish and expect big gains, fees tend to be higher. Conversely, during downturns, fees drop. Low Fees:…
