Author: Newton Gitonga
United States Source: ZyCrypto
Sep 08, 2024 01:45

Pundit Predicts Ethereums Surge To $10,000, But Theres A Catch

Ethereum (ETH) experienced a slight downturn on Wednesday, in tandem with a broader cryptocurrency market decline led by Bitcoin (BTC).

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Author: Sarayu Krishna
United Arab Emirates Source: TheNewsCrypto – Blockchain & Cryptocurrency News M
Sep 08, 2024 04:10

Ethereum Foundation Wallet Shrinks to $650M as Market Shifts

The non-profit organization of the Ethereum blockchain, Ethereum Foundation, will release an updated financial report, as per the official statement. The organizations treasury has witnessed a significant reduction, with its main wallet holding approximately $650 million. This represents a steady decline in the foundation’s holdings since March 2022. At that

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Author: NewsBTC
United Kingdom Source: Crypto Breaking News
Sep 07, 2024 05:50

Ethereum Enters Oversold Territory, Can The Pump Send It To $6,000?

Recent developments show that Ethereum has entered oversold territory. This is undoubtedly a bullish development for the second-largest crypto by market cap, as it looks set for a price rally that could send it as high as $6,000.  ETH Ready For Liftoff Having Entered Oversold Territory Crypto analyst Titan of Crypto suggested in an X [...]

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Author: Brenda Ngari
United States Source: ZyCrypto
Sep 07, 2024 01:45

Why Has Ethereum Significantly Underperformed Bitcoin, Solana, And BNB Since Shifting To Proof-Of-Stake? Experts Explore

Many Ethereum fans have been ardently clamoring for the Flippening, but with the current trends, it seems that dream might be slowly slipping away.

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Author: Charles Thuo
United Kingdom Source: CoinJournal: Home
Sep 07, 2024 02:00

VanEck to close its Ethereum futures ETF in September, a year after launch

VanEck is closing its Ethereum Futures ETF (EFUT) by September 16, 2024. The EFUT saw low asset accumulation as compared to VanEck’s spot Ethereum ETF. Generally, Ethereum is facing challenges from competition and reduced network revenue and fees. VanEck is set to close its Ethereum Strategy ETF (EFUT) by September 16, 2024, with liquidation expected […]

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Author: Abdul
United Arab Emirates Source: TheNewsCrypto – Blockchain & Cryptocurrency News M
Sep 07, 2024 04:10

VanEck to Liquidate and Close Ethereum Futures ETF Amid Low Interest

Ethereum ETF Futures (EFUT) will be discontinued and liquidated by the prominent investment management company VanEck. The price of ETH, which was already experiencing a period of erratic trading due to a general market decline, has taken a huge hit. Among the many factors given by the ETF provider for

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Author: Scott Matherson
United Kingdom Source: NewsBTC
Sep 06, 2024 12:05

What Was Behind The Bitcoin And Ethereum Price Crash?

Bitcoin (BTC) and Ethereum (ETH) have started September in the red, having already suffered price declines since the beginning of the month. This bearish sentiment towards the foremost cryptocurrencies and, by extension, the broader crypto market is due to several macroeconomic factors. Market Still Feeling The Effects Of The Yen Carry Trade Recent developments suggest Bitcoin and Ethereum are still feeling the effects of the abandonment of the Yen carry trade. The Yen recently surged against the US dollar, suggesting that investors are still selling riskier assets like these cryptocurrencies to unwind their carry trade positions, which utilized the low-yielding Yen. Related Reading: Bitcoin Short-Term Holder Behavior Reminiscent Of 2019 As BTC Remains Below $60,000 In an X (formerly Twitter) post, hedge fund manager James Lavish also suggested that the effects of the Yen carry trade was still in play. He noted that the Nikkei 225 had dropped by 3.7% while the USD/Yen trading pair was heading lower.  The Bank of Japan (BOJ) Kazuo Ueda also recently made a hawkish statement that they will continue to hike rates if the economy and prices continue to perform as expected. This has also sparked fear among traders and prompted them to close their carry trade positions, thereby putting more selling pressure on Bitcoin and Ethereum.  Bitcoin and Ethereum suffered major losses during the August 5 market crash, which was caused by the BOJs decision to hike interest rates for the second time since 2007. Bitcoin, on its part, dropped below $50,000, while Ethereum dropped to as low as $2,200. As such, with the effects of the Yen carry trade still in play and the BOJ hinting at more rate hikes, Bitcoin and Ethereum risk suffering further price declines.  US Stock Market Crash Contributes To Bitcoin And Ethereums Fall Furthermore, Bitcoin and Ethereums correlation with the US stock market has also contributed to their price crash since the beginning of September. Specifically, on September 3, over $1.05 million was wiped out from the stock market, which also sparked fear in the crypto market and led to a wave of sell-offs for Bitcoin and Ethereum.  Related Reading: XRP Price To $8: Analyst Says Repeat Of 2017 Could Drive Rally This was evident in the outflows that both Spot Bitcoin and Ethereum ETFs witnessed on that day. Data from Farside investors showed that the Spot Bitcoin ETFs and Spot Ethereum ETFs witnessed total net outflows of $287.8 million and $47.4 million, respectively.  With such a bearish outlook for Bitcoin and Ethereum, there is an urgent need for a spark that could provide bullish momentum for the crypto market. Crypto community members are hoping that the US Federal Reserve will cut interest rates at the next FOMC meeting set to be held between September 17 and 18, as that will provide some relief to the market and help inject more liquidity into Bitcoin and Ethereum.  At the time of writing, Bitcoin and Ethereum are trading at around $57,160 and $2,400, according to data from CoinMarketCap.  Featured image created with Dall.E, chart from Tradingview.com

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Author: Newton Gitonga
United States Source: ZyCrypto
Sep 05, 2024 01:45

Arthur Hayes Predicts Bitcoins Drop To $50k, A Worse Rout For Ether, XRP, Cardano, Solana, Shiba Inu

In a Wednesday blog post, Hayes shared his revised outlook for Bitcoins price movement, contradicting his earlier bullish stance.

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Author: Abdul
United Arab Emirates Source: TheNewsCrypto – Blockchain & Cryptocurrency News M
Sep 05, 2024 04:10

Ethereum Futures Trading Volume on CME Hits Multi-Month Low

In August, the volume of Ethereum futures traded on the Chicago Mercantile Exchange (CME) hit a multi-month low. Based on the data dashboard provided by The Block, the total monthly trading volume of CME Ethereum futures in August was $20.8 billion. From $30.5 billion in July, the expected dollar trading

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Author: Charles Thuo
United Kingdom Source: CoinJournal: Home
Sep 05, 2024 02:00

Switzerlands 4th largest bank ZKB launches Bitcoin and Ethereum trading

Zürcher Kantonalbank (ZKB) now offers Bitcoin and Ethereum trading via ZKB eBanking and Mobile Banking. The bank has partnered with Crypto Finance AG and will use Fireblocks for secure custody. The services are available only to Swiss residents with the necessary agreements signed. Zurich Cantonal Bank, Switzerland’s fourth-largest bank locally known as Zürcher Kantonalbank (ZKB), […]

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Author: Arslan Tabish
Estonia Source: TronWeekly
Sep 05, 2024 02:30

Bitcoin Whale Activity Declines Sharply: What It Means for the Crypto Market?

Blockchain analytics firm Santiment has revealed that whale transaction volumes have dropped sharply across top cryptocurrencies including Bitcoin and Ethereum. The decline in large transactions, especially those in excess of $100,000, could be attributed to a shift in the behavior of some of the largest owners of these assets, and the potential consequences for the […]

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Author: Newton Gitonga
United States Source: ZyCrypto
Sep 04, 2024 01:45

Bitcoin Maximalist Claims ETH Is in A Death Spiral For These Reasons

Renowned Bitcoin maximalist Fred Krueger has ignited controversy with his latest critique of Ethereum, claiming the second-largest crypto is "in a death spiral."

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Author: NewsBTC
United Kingdom Source: Crypto Breaking News
Sep 03, 2024 05:50

Road To $5,000: Ethereum Maintains Similarities With 2016 Price Movements

The Ethereum price action has significantly underperformed traders’ expectations over the past few months. Ethereum is currently trapped in a bearish trend, with its price now down by 23% over a 30-day period. This downturn contrasts sharply with the hopes of many ETH investors who have been anticipating a bullish surge following the launch of [...]

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Author: Newton Gitonga
United States Source: ZyCrypto
Sep 29, 2024 01:45

Cardano Founder Slams Critics for Misrepresenting His Views On Ethereum

Cardano's Charles Hoskinson has strongly criticized media outlets for misrepresenting his views on Ethereum's governance model.

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Author: NewsBTC
United Kingdom Source: Crypto Breaking News
Sep 28, 2024 05:50

Ethereum Sees 43% Crash In Active Addresses, Whats Going On?

The market sentiment towards Ethereum (ETH) has turned relatively bearish, largely due to the cryptocurrencys recent price volatility. This negative sentiment is evident in Ethereums new active addresses, having crashed by a whopping 43%, underscoring reduced network activity and investor confidence.  New Active Addresses On Ethereum Decline Data from The Block is showing notable fluctuations [...]

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Author: Newton Gitonga
United States Source: ZyCrypto
Sep 28, 2024 01:45

Analysts Predict Bullish Shift for Ether Amid Increased Futures Buying Activity

Ethereum (ETH) demonstrated strong performance on Friday, climbing by more than 1.75% over the past 24 hours to trade at $2,673 at press time.

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Author: Brenda Ngari
United States Source: ZyCrypto
Sep 27, 2024 01:45

PayPal Now Lets Millions Of US Business Accounts Directly Buy, Hold, And Sell Bitcoin And Ethereum

PayPal announced Wednesday that millions of U.S. merchants can now buy, hold, and trade crypto assets directly from their business accounts.

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Author: NewsBTC
United Kingdom Source: Crypto Breaking News
Sep 27, 2024 05:55

Crypto Analyst Predicts What Will Drive The Ethereum Price Back Above $3,000 Again

Ethereum, the second-largest cryptocurrency by market capitalization, has yet to reclaim the $3,000 price level since early August. Since the beginning of September, Ethereum has mostly traded below $2,600, but this week brought a glimmer of hope for investors as it finally managed to break above the $2,600 threshold. Now that this resistance threshold has [...]

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Author: Brenda Ngari
United States Source: ZyCrypto
Sep 27, 2024 01:45

$20,000 Next For ETH? Analyst Says Ethereum Is Copying Price Trend That Preceded 2023 Rally

However, the head of macro research at Global Macro Investor, Julien Bittel, remains optimistic about Ether.

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Author: Scott Matherson
United Kingdom Source: NewsBTC
Sep 26, 2024 12:05

Ethereum Whales Spend $185 Million To Accumulate 70,000 ETH, Time To Buy?

Ethereum has largely mirrored Bitcoin in terms of price action and has yet to break out on its own accord in the past few months. According to price data, Ethereum is up by 13% in the past seven days, outpacing Bitcoin’s increase of 5.8% in the same time frame. Behind this interesting increase in Ethereum are some large Ethereum holders who seem to be increasing their holdings.  Notably, on-chain data from multiple analytics platform points to an uptick in activity from Ethereum whales in the past few days. Particularly, Glassnode data suggests large holders of Ethereum have added at least 70,000 ETH into their wallets since the beginning of last week. Ethereum Whales Spend Big On ETH The interesting Ethereum whale activity noted above is revealed through on-chain analytics platform Glassnode. As shown in the chart below, the number of Ethereum wallets holding 10,000 ETH or more has experienced a rise in the last 24 hours, increasing to 925 wallets. This marks a gain of about seven new whale wallets that have accumulated a huge number of ETH tokens, up from the 918 wallets recorded on September 18.  Related Reading: Bitcoin Prediction: Crypto Pundit Reveals Why $100,000 Is The Nominal Price Level For 2025 Supporting this trend, additional data from IntoTheBlock (ITB) indicates a surge in activity from addresses holding substantial amounts of Ethereum. ITB tracks these movements through a specific metric that monitors the number and value of transactions exceeding $100,000. According to this metric, Ethereum whale activity has reached over $29 billion in the past seven days. While this figure accounts for both inflows and outflows from whale wallets, the sheer scale of these transactions is notable. Historically, such high levels of activity from large holders tend to be a bullish indicator for cryptocurrencies. This heightened activity is further reflected in the inflows of ETH into large holder wallets. On September 23, these inflows soared to 515,520 ETH, representing an impressive 440% spike compared to the 95,820 ETH recorded during the previous 24-hour period.  Time To Buy ETH? At the time of writing, Ethereum is trading at $2,626. As noted earlier, this is on the back of a 13% increase in the past seven days, prompting Ethereums overperformance over Bitcoin for the first time since the beginning of the year. The leading altcoin has mirrored Bitcoins movements so consistently that some analysts have questioned its potential for decoupling anytime soon. Related Reading: XRP Remains Bullish: Crypto Experts Unveil Predictions For The Price Ethereum’s importance in the crypto industry means there’s never a bad time to accumulate more ETH. Ethereum just broke over $2,600 for the first time in September, which is the first step in a sustained move to the upside. The next key target is to break above $2,700 before the end of the month, which could pave the way for a push towards $3,000 in October. Featured image created with Dall.E, chart from Tradingview.com

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