Category: Ethereum

Great news for Ethereum’s users! Ethereum has witnessed a vast growth number of research team members and expected ETF approvals.

To remain evolving, modernize, and improve its technology, it has to remain updated within the sphere. With the new wave of welcoming Ethereum 2.0, the growth of the Ethereum research team is crucial.

The real tea is that it could be a big thing as has it also created significant interest among institutional investors with the possible approval of Ethereum ETFs. We can imagine the boost of demand and stabilizing the market as traditional investors get easy access to Ethereum through ETFs.

Not only this, but it positions as one of the premier cryptos today! This has played a noteworthy role in the world of Decentralized Finance (DeFi).

Is it fruitful to gain long-term influence? Well, the answer is, it influences Ethereum’s market value and adoption as it gains more ground in the future!

We can say that it is a strategic move to prepare Ethereum for future achievements in terms of scaling and security. And, the approval of the ETF can dramatically affect Ethereum’s accessibility for investors and increase its demand.

Additionally, it can be stated that Ethereum’s expansion is fueled by research and development. ETF approval, which is set to strengthen Ethereum’s position as the market leader in cryptocurrency!!!

If you liked this article, then please subscribe to our YouTube Channel for web3 video tutorials. You can also find us on Twitter and Instagram.

ETH is facing a major challenges as it no longer fits the ultra sound money. The users were fascinated after the adoption of the Ethereum Improvement Proposal (EIP)-1559. The proposal also included a plan to burn a part of the transaction fees. This would help in the reduction of ETH supply thereby making it a deflationary asset. But today’s market trends have done this around turn.

The first issue regards the decrease on supply of Ethereum. It is no longer decreasing at the expected rate, thus causing doubt regarding its deflationary characteristics. This change is mainly caused by lower activity on-chain both in terms of transaction fees and Ether tokens being burned. The situation has sparked controversy among the prospective investors and analysts who have been keenly observing the supply chain of Ethereum.

Summing up the above concerns, Ethereum is in front of a potentially problematic technical situation. There is a “rectangle pattern” on the Ethereum’s price chart at the moment. This pattern implies that there may be some consolidation of the price. It might be fluctuating between a given range, which may be due to the uncertainty of the market. This means that if Ethereum fails to get past this level of resistance then the downside risk in the cryptocurrency truly on.

The changes in Ethereum and the disappearance of the “ultra sound money” status or the stagnation in attempts to climb key resistance levels signify shifts in the market. While Ethereum remains in the uncertain stage and tries to overcome all these challenges, the market observers pay much attention to the further developments in the sphere of cryptocurrencies.

If you liked this article, then please subscribe to our YouTube Channel for web3 video tutorials. You can also find us on Twitter and Instagram.

So, the much-anticipated surge of Ethereum (ETH) to hit $3,000, is estimated to be delayed until the fourth quarter of 2024. Despite having consistent testing of key resistance, Ether experiences distinct challenges around the $2700 mark.

Crypto analyst, Poseidon emphasized that Ethereum has shown resilience. Will ETH take time some time to break the $3,000 threshold, likely until later in the year? The 50-day Exponential Moving Average (EMA) can be a critical factor in sustaining the current levels. Else, it might fall to $1,750!

Other analysts expect macroeconomic factors and general market sentiment to be the reasons for the delay! The broad market remains relatively conservative. The traders will be observing actions in the US Federal funds rate. Similarly, the economic signals across the world may also influence Ethereum.

However, investors must continue to be patient with Ethereum. Here, we expect the fundamental drivers of the Ethereum price to remain firm and positive due to further network upgrades. This will result in increasing usage cases. However, short-term oriented fluctuations together with $250-300 resistance levels may remain a barrier for Ether reaching $3,000 until Q4 of 2024.

If you liked this article, then please subscribe to our YouTube Channel for web3 video tutorials. You can also find us on Twitter and Instagram.

Base, a Layer-2 (L2) scaling solution on Ethereum has surged its competitors behind. It has become successful in leading in key metrics that indicate its rate of growth and popularity in the market.

In the past month, Base reported a 19% rise in activity levels of addresses reaching 13.2 million. This growth was faster than major competitors such as Arbitrum One, Optimism, and zkSync, which experienced a decline in their active user bases.

The Base also leads in 30-day transaction count with 110.28 million transactions, surpassing the other Ethereum L2 networks. This figure is more than double that of Arbitrum One, which recorded the most transactions with 52.41 million during the same period.

Factors such as the successful completion of the “basenames” service on the Base network can explain the growth of active addresses and the number of transactions. This new feature attracted over 200,000 new Base.eth usernames within the first week of launch.

Base, introduced in July 2023, by Coinbase aims to increase the scalability of Ethereum while preserving the security. Its exponential growth is not only the great success story that Coinbase has to offer but is also a positive sign for Ethereum’s ecosystem. Base is growing and it has the potential to be a major player in the future of DeFi and blockchain.

Activity on Base can also increase the price of Ethereum because users gather ETH for paying gas fees. Currently, Ethereum is at $2,625, which is a common situation with the fluctuation of the crypto market.

To explore the article on Base Network surpassing 1 million daily active adressess, click here.

If you liked this article, then please subscribe to our YouTube Channel for web3 video tutorials. You can also find us on Twitter and Instagram.

With a significant development in cryptocurrency, investors and analysts are looking deeply into the major crypto exchange. The recent transer of Ethereum (ETH) $69 million to a Crypto exchange prompts investors and analysts to look deeper . This move led to great speculation on the possible leads to conducting such a transfer, and the possibilities of thereby affecting the Ethereum market.

The transfer involved about 41,000 ETH, which was equivalent to about $69 million at the time of the exchange. An anonymous address transferred the money to one of the largest cryptocurrency exchange platforms. The large transaction suggests that the market is changing or that something big is about to happen. The transfer will be a highlight as big transactions could become major prompts for shifts in the market.

The motive for the transfer is still unclear. This has developed many hypotheses in the cryptosphere. Some have also suggested that the transfer may well to a sale, meaning a temporary decline in the price of Ethereum. Some even identify t with transactions institutional investors, which might be shifting their money for tactical holdings. This is supposed to undertake certain positions, or otherwise for the following market segments.

Ethereum, the second-largest cryptocurrency by market capitalization has been experiencing stability in the past few weeks. Nevertheless, such large transactions as a measure lead to volatility in the market based on the later activities that are carried out.

However, effects of the $69 million transfer will be in the market very soon. This may be an alert to investors to keep an eye on the potential effects of the decision on Ethereum’s short-term and long-term performance.