Tag: Ethereum

ETH Soars Past $3,500: Is $4,000 the Next Target?

Ethereum is back on track, breaking $3,500 after months of lagging. Its mainly fueled by alt season hype and Bitcoin’s near $100K surge. Currently trading at $3,490, it’s looking at $4K but it does has resistance around $3,800 to $3,900. With already going massive Bitcoin’s moves and macro trends in play, ETH’s path forward looks promising but volatile.

On the end of November, Ethereum’s token ETH just pulled a major comeback. This sprint comes after long months of feeling left out and is fueled by Bitcoin’s crazy climb toward $100K and the buzz around alt season.

ETH’s Comeback Story

ETH hasn’t seen the $3,500 zone since July, but it’s finally caught up to Bitcoin’s glow-up. Right now, ETH is sitting pretty at $3,490, up a solid 13% in just a week, as per TradingView. Everyone’s now wondering if this momentum will take it to $4K.

This Week’s Price Action

So, what’s next? ETH seems to be chilling in the $3,500 range for now and is likely looking to build up some energy for the next big push. Major crypto Top Gs are eyeing $3,800 to $3,900 as a big challenge. Its kinda like a boss fight on its way to reach the $4K mark. ETH’s gotta bring its A-game to break through.

Here’s the deal, though: Bitcoin’s drama (it’s so close to $100K!) and broader market vibes could mess with ETH’s momentum. Altcoins often ride Bitcoin’s wave, so everyone’s keeping tabs on the bigger picture.

Read more on Ethereum here

The Road to $4K

For ETH to hit $4K, it’ll need some major buying power and a bit of luck from the global economy. Things look good overall, but don’t forget—crypto can be a bit of a rollercoaster. For now, ETH is on the up, but short-term chaos could still shake things up.

The takeaway? ETH is out here making moves, and while the journey might get bumpy, $4K feels closer than ever. Stay tuned!

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NFTs Hit $158M in Weekly Sales, Powered by Ethereum and Bitcoin

NFT sales just hit $158M this week, led primarily by Ethereum ($49M) and Bitcoin ($43M), despite a 12.7% drop from last week. Solana saw a huge spike in buyers aswell, with 185K+ active users. The NFT market’s still strong, closing November with solid momentum after a record-breaking October.

NFTs are still holding strong despite a slight dip this week, with $158 million in sales over the last seven days, according to CryptoSlam. While that’s a 12.7% decrease from last week’s $181 million, the numbers are still looking solid, especially when compared to earlier in November when sales were only around $93 million.

Ethereum continues to dominate the NFT scene with $49 million in sales, though that’s down 25.9% from the week before. Bitcoin NFTs are also holding their own, recording $43 million in sales, though that’s a 29% drop.

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But here’s where things get interesting: Solana, which has been flying under the radar, just smashed it in terms of buyers. With over 185K Solana users actively picking up NFTs this week, which is a 58% jump from last week, its giving off positive vibes all over! In comparison, Ethereum, while leading in sales volume, saw a slight dip in buyer activity.

Other networks like Polygon, Mythos Chain, Immutable, and BNB Chain combined for $35.8 million in NFT sales this week. And although the average transaction value dropped a little, from $133 to $126, it’s clear that interest in NFTs is holding steady.

Looking at the bigger picture, the NFT space is showing some serious resilience. October saw a huge spike in sales, ending a seven-month slump, and now November is keeping the momentum going. Despite the fluctuations, the rise in Solana’s buyers and Ethereum’s continued dominance show that the digital collectible market is alive and kicking.

Despite a minor decline this week, NFTs are still doing well; according to CryptoSlam, sales over the past seven days have totaled $158 million. Even while it is a 12.7% drop from previous week’s $181 million, the figures appear to be stable, particularly when contrasted with sales of only about $93 million earlier in November.

With $49 million in sales, Ethereum is still the market leader in NFT, despite a 25.9% decrease from the previous week. Despite a 29% decline, Bitcoin NFTs are still doing well, with $43 million in sales.

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Ethereum Eyes $10K Despite Recent Sell-Off

Summary: Ethereum hasn’t had a great couple weeks as it’s price faced a pullback, dropping to $3,058 in the mist of a big whale sell-offs and ETF outflows. Analyst knowing this downfall of ETH still predicts a long-term rally with bullish technical indicators, they suggest a potential rise to $10,000.

Whale Activity Triggers Price Dip

Ethereum has fallen down and has fallen so deep that it’s fallen by 11% from its monthly high with whales transferring and selling over $300 million worth of ETH to exchanges, signaling a very dangerous and potential sell-offs. A major transaction that put pressure on the cryptocurrency’s value is 50,000 ETH moved to Kraken.

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DEX and ETF Challenges

Ethereum which has second highest valuation suffered from a underperformance in decentralization exchanges (DEX) volumes, while trailing other infamous networks like Solana and Base. Not only that but spot ETFs also saw 2 consecutive days of outflow with a total amount of $59.8 million which seems incomparable to Bitcoin which had a massive, extraordinary, huge inflow of $27 billion.

Bullish Signals on the Horizon

Despite all these negative aura surrounding Ethereum, analysts remain super hopeful that this is just a calm before the storm and predict a potential bullish run for its long-term target of $10,000.

Ethereum’s Dilemma: Rising Network Activity Amid Stagnant ETH Prices

Ethereum’s token ETH is stuck under $3,200 despite popping off in network growth. There seems to be no problem in daily users, transactions and even dApps which just recently hit $149.9B. That’s way above of BNB chain. Plus, even smart money is bullish but inflation and weak fee burns issue is dragging it down. Options market isn’t hyped, with only a 10% shot at $4K this year. The Beam Chain upgrade might be a savior, but for now Bitcoin is taking all the cake.

ETH token price has been showing inconsistency in its price, even with the market surge. It is struggling to maintain momentum above  $3,200 mark, despite numerous attempts to improve in network fundamentals and dApp volumes.

Ethereum’s Price Stays Flat

Basically, there is no problem yet faced in Ethereum’s on-chain activities, daily active users have actually jumped from 377K to 488K as of recent, plus, transactions hit 1.29M and TVL even surged by 25%. DApp volumes are also absolutely crushing it with $149.9B, shortening BNB Chain’s $26.6B. But despite this killer stats, ETH’s price isn’t looking bright, this network hype doesn’t go along with its market moves and its stuck in between this mess.

ETH’s Smart Money Hope vs. Market Doubts

Big players are bullish, scoring ETH sentiment at 2.28/5, while retail vibes stay lukewarm at 0.06. But there are challenges in the way, less fee burning and skepticism in option markets has been a major setback. While ETH has gained 36%, it looks tiny in front of Bitcoin’s surge 109%.

Key levels:

  • Support: $3K
  • Resistance: $3.2K
  • Target: $3.735K (+20%)

Beam Chain upgrade might help, but for now, ETH’s stuck following Bitcoin’s lead.

Trump’s World Liberty Financial Integrates Chainlink for Offchain Data

Shortly, World Liberty Financial (WLFI) is a decentralized digital finance projects also widely known as DeFi project which has links to Trump Organization and is now partnering with Chainlink to combine data feeds in support of its upcoming Aave c3 Launch.

Partnership with Chainlink

WLFI announced it’s partnership with Chainlink on November 14 and said it selected chainlink to provide necessary price feeds and data connectivity for its decentralized finance service. It is also said and highly anticipated that this partnership will begin with integration of Chainlink Price Feeds on Ethereum, however it still requires approval through WLFI’s Governance Platform. Chainlink isn’t the weak link in this partnership as it’s infrastructure provides access to essential onchain data and cross-chain capabilities, which have successfully powered and supported over $16 trillion in transactions.

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Trump’s Vision for Crypto

Eric Trump, WLFI’s web3 ambassador, showed excitement and enthusiasm about this unforeseen partnership, calling it a significant step towards crypto excellence. The project’s founder Donald Trump, boldy stated WLFI in September with a fantastic aim of establishing America as a global crypto phenom, a crypto sensation and be known as Global crypto leader.

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Crypto Market Sees $650 Million in Liquidations as BTC and ETH Enter Overbought Zone

In short, the crypto market has experienced a steep increase in volatility over the past 24 hours, with total liquidations reaching $650 million. This has caused Bitcoin and Ethereum to reach overbought zone, signaling a potential market cooldown.

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Crypto Liquidations

Liquidations Spike Amid High Volatility

Coinglass provides data that shows the total liquidation have surged 70% in a day, with total amount of $650 million — $366 million in long position and $284 million in short positions. Bitcoin and Ethereum being face of crypto market, among other major cryptocurrencies are showing signs of an overbought market, which may bring forth a cooldown in their recent bull run.

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Bitcoin and Ethereum in Overbought Zone

Bitcoin recently reached all time high of $89,600 with it’s RSI hitting 75, a level that indicates it may be overbought. Ethereum also saw similar activity and reached it’s peak $3,241 before experiencing a gradual decline with it’s RSI standing at 74. This unusual and shocking activity suggests potential short-term volatility.

Market Sentiment and Speculation

After Bitcoin and Ethereum hit their all-time high, Experts are on the side of the bull-run’s sustainability. Cameron Winklevoss believes that this market cycle is being driven by institutional investments rather than retail. On the other hand, CryptoQuant CEO Ki Young Ju warns that the future crypto market may be bearish and overheated for 2025.

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Espresso Launches Mainnet for Cross-Chain Composability layer with a16z Backing

Summary

Espresso, a blockchain project backed by Andreessen Horowitz (a15z), has released it’s major confirmation layer on mainnet. This amazing achievement follows extensive testing and partnerships which promises enhanced cross-chain interactions and synchronous composability in the Ethereum ecosystem.

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Mainnet Launch of Core Confirmation Layer

Espresso a Blockchain project announced the mainnet release of it’s confirmation layer, with the aim of enhancing cross-chain composability in the Ethereum ecosystem. Espresso’s team took a juicy amount of time which is about two years of pure development and testing across five testnets to roll out this key infrastructure to enable reliable inter-chain interactions.

Improving Synchronous Composability

This confirmation layer allows chains to freely interact and validate each other’s state transitions through synchronous composability. This revolutionary shared infrastructure gives a “source of truth” for several blockchains, making sure they can read and confirm transaction data more efficiently.

Strong Industry Partnerships

Espresso has collaborated with ecosystem partners such as Cartesi, Airchains, Offchain Labs, Across Protocol and AltLayer. This ensures that its innovation has robust support system. The goal of these partnerships is to extend Espresso’s capabilities across several blockchain ecosystem by integrating its layer with modular, zero-knowledge solutions and bridge platforms.

Conclusion

With the support of an experience a16z and $28 million in Series B funding, Espresso’s mainnet debut is a significant milestone for Ethereum’s cross-chain compatibility and composability. With a robust network or partnerships and plans for phased implementation, Espresso’s infrastructure is poised to become a major force in decentralized banking

Crypto Inflows Surge Post-Election to $31.3 Billion YTD

In brief, to date, cryptocurrency investment products have seen record inflows of $31.3 billion, with $1.98 billion coming in immediately following the U.S. election. Driven by positive market circumstances and political changes, Bitcoin leads these gains, followed by robust investments in Ethereum and other altcoins.

AUM and Inflows Hit Records

Post-election inflows of almost $2 billion into cryptocurrency products increased year-to-date totals to an all-time high of $31.3 billion and worldwide AUM to $116 billion. With $1.95 billion, the U.S. led this increase.

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Bitcoin Leads Investor Optimism

Bitcoin alone attracted $1.8 billion last week, reflecting renewed investor confidence following the U.S. Federal Reserve’s recent rate cut and political shifts, according to CoinShares’ James Butterfill.

Activity on Ethereum and Other Cryptocurrencies

With $157 million in inflows, Ethereum had its best week since the July launch of the ETF. Blockchain stocks saw $61 million, indicating a wider interest in digital assets, while altcoins like Solana, Uniswap, and TRON also profited.

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Prospects for the Future and Analyst Forecasts

Analysts predict that traditional investors would increase their investments in crypto-focused exchange-traded funds (ETFs) after Trump’s victory. Cameron Winklevoss of Gemini forecasts that the price of Bitcoin will rise further, with a target of $100,000 in sight.

In conclusion, with significant inflows and strong anticipation regarding Bitcoin’s future trajectory, the U.S. election and favorable market circumstances have established a bullish tone for the cryptocurrency space.

ETH, SHIB, and SUI are the top cryptocurrencies to keep an eye on this week.

Synopsis

The primary cause of last week’s hopeful spike in the cryptocurrency market was the increase in Bitcoin following Trump’s election triumph. As Bitcoin got close to $80,000, altcoins like Ethereum (ETH), Shiba Inu (SHIB), and Sui (SUI) also reported significant gains, pushing the global cryptocurrency market value to a record high of $2.85 trillion. Below is a summary of the week’s best cryptocurrency performers and important levels to keep an eye on.

Ethereum Surges Past $3,000

Ethereum reclaimed multi-month highs, spiking to over $3,100 as it capitalized on the broader market rally. After a modest drop on Nov. 4, ETH rose 27.3% over the week, with its largest gains on Nov. 6 following Trump’s victory. The cryptocurrency remains in overbought territory, with a potential pullback to $2,981 if momentum stalls. Key resistance now lies at $3,396, while the Relative Strength Index (RSI) sits at a bullish 75.62.

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Shiba Inu Rallies 21%

Shiba Inu saw a 21% weekly increase, breaking past $0.00002 for the first time in nearly a month on Nov. 9. The MACD’s bullish crossover on Nov. 6 indicates strong momentum, although SHIB may face resistance at the June peak of $0.00002622. Support stands at the 23.6% Fibonacci level near $0.00002157.

SUI Claims New All-Time High

Sui, the native token of its layer-1 blockchain, reached a new all-time high of $3.14 after a 20% surge on Nov. 9. The asset maintains an upward trajectory, although its Stochastic Momentum Index at 79.1 signals overbought levels. Investors should watch for potential support at $2.75 if the asset faces a pullback.

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In conclusion, as the market is still showing bullish momentum from the previous week, investors should keep an eye on these crucial levels for any shifts in the trend or additional gains.

Ethereum Foundation’s Strategic Vision for Long-Term Growth in 2024

In brief, the Ethereum Foundation has shown its commitment to the Ethereum network by maintaining the vast majority of its assets in Ethereum. In its 2024 Treasury Report, the foundation outlined a conservative financial strategy that prioritized stability and long-term growth through a careful allocation of both fiat and cryptocurrency assets.

Overview and Strategy of the Treasury

The Ethereum Foundation has $970.2 million in total assets, with 99% of those assets being in ETH. This calculated decision demonstrates the foundation’s faith in Ethereum’s long-term prospects.

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Conservative Management Approach

To secure future funding, the foundation periodically sells ETH during bull markets to build fiat reserves, ensuring continuity of funding even during market downturns.

Ecosystem Growth Funding

The foundation devotes a sizeable portion of its funding—$32.1%—to layer-1 research and Ethereum-supporting institutions.ETH has shown notable performance in recent weeks, rising over 16% and outpacing Bitcoin. This growth aligns with the foundation’s optimistic outlook.

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The Ethereum Foundation’s report reflects a balanced strategy that prioritizes long-term ecosystem growth and financial stability. Through strategic treasury management, the foundation aims to support Ethereum’s development well into the future.

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