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Bitcoin spikes to $48K on Binance: $100M shorts liquidated in minutes

5 days ago

Bitcoin prices are skyrocketing at the moment, with the digital asset surging as high as $40,000 on some exchanges. Futures prices went even higher with BTC tapping $48,000 on Binance futures.
BTC futures, Binance – Tradingview.comAccording to Tradingview, Bitcoin has cranked 14% over the past 6 hours. It has currently retreated to trade at $38,300 at the time of press, after a gain of 7% over the past 24 hours.
The massive momentum began early on Saturday when Bitcoin broke out of a trading range at around $32K to push up to a two-week high over $34K. It continued to build from there culminating in the massive spike within the past hour or so.
Bitcoin Shorts Liquidated
Bitcoin prices have now moved above the 50-day moving average and are targeting resistance at around

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Bitcoin Price Hit 11-Week Low: BTC Retesting The Lowest Weekly Close Since February

May 16, 2021

In early Sunday trading, BTC prices had fallen to their lowest levels for over 11 weeks, hitting $46,700 before a minor recovery.
The last time Bitcoin dropped to these levels was at the end of February during the second major correction of this ongoing rally. A rebound off that bottom sent prices above $60K for the first time in the two weeks that followed.
Later today, Bitcoin is going to close another weekly candle. In case the candle closes at those levels, this will become the worst weekly close since February 22nd, when BTC ended the week at $45,240, according to Bitstamp. Two weeks ago the weekly candle closed at $49,200, which the current lowest week close since February.
Second ‘Lower Low’ For Bitcoin
This time around, things feel slightly different and the

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PancakeSwap Continues Cook Rivals as Daily Transactions Close on 2M

May 3, 2021

The Binance Smart Chain powered DEX has surged in popularity in recent months as DeFi newbies flock to the platform to avoid paying heavy gas fees on Ethereum.
Figures from on-chain data providers indicate that the record figures for BSC and PancakeSwap have indeed surpassed that of the Ethereum network, despite its record price high of $3,100 today.
PancakeSwap’s analytics dashboard does not appear to be updating TVL and volume figures, but its daily transaction count is currently a whopping 1.93 million.
Binance CEO Changpeng Zhao never misses an opportunity to plug the exchange-based ecosystem and bash its rivals.

— CZ 🔶 Binance (@cz_binance) May 2, 2021

His ETH bashing continued on May 2 with these comments:
“Eth is the ultimate utopian

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Coinbase Pro Lists Tether as USDT Supply Approaches 50 Billion

April 23, 2021

In an announcement on April 23, Coinbase Pro stated that it had enabled trading for the Tether stablecoin. The move is huge news as previously the leading exchange would only support its own native stablecoin, USDC.
The announcement added that support for USDT will generally be available in Coinbase’s supported jurisdictions, with the exception of New York State. The only version of USDT available will be the Ethereum ERC-20 standard.
Trading will begin on or after 6 PM Pacific Time Monday, April 26, if liquidity conditions are met, it added. The following pairs will be available: BTC/USDT, ETH/USDT, USDT/EUR, USDT/GBP, USDT/USD, and USDT/USDC.
Tether is not available on the regular Coinbase exchange yet and is limited to the Pro version which is more suited to

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AgeUSD to Launch as First Stablecoin on Cardano Network

April 17, 2021

Multinational blockchain technology company Emurgo initially announced the AgeUSD stablecoin in January 2021. The firm has since announced a partnership between the Ergo Foundation, Emurgo, and Charles Hoskinson’s Input-Output Global, the parent company of IOHK.
The AgeUSD stablecoin will be available on Cardano as soon as smart contract capabilities are launched on the blockchain, it revealed.
Do We Need Another Stablecoin?
Emurgo aims to prevent events like MakerDAO’s Black Thursday, which emerged through vulnerabilities in its Dai collateralization mechanism. A mass liquidation of the vast majority of Maker vaults resulted in around $4 million in Dai being under-collateralized at the time in March 2020.
AgeUSD’s so-called “Staticoin” protocol-inspired design does not

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Bitcoin Hodlers Increasing as ‘Old Hands’ Slow Their BTC Spending

March 30, 2021

The latest report by on-chain analysis provider Glassnode has unraveled more details on Bitcoin spending habits that could suggest that market sentiment is still bullish.
Glassnode observed that held coins are beginning to mature, and continued outflows from exchanges demonstrate accumulation is not slowing down.

#Bitcoin held above $50k last week as early signs of coin maturation showed up on-chain.
This week we analyse– Ageing of coins bought in this bull– Spending behaviour of old coins– Deep Dive into Exchange Balances
Read more in The Week On-chain👇
— glassnode (@glassnode) March 29, 2021

HODL Waves Getting Bigger
As reported by CryptoPotato, smaller accounts are increasing as ‘stacking sats’ becomes popular for new entrants to Bitcoin and

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Coinbase Decentralization Claim Draws Fury From its Customers

February 25, 2021

In a blog post on Feb. 25 titled “Coinbase is a decentralized company, with no headquarters”, CEO Brian Armstrong stated that the firm has moved to a ‘remote first environment’.No HQ = Decentralized?He added that 52% of their employees have joined the company in a ‘post-office world’ and 95% of them have the option to work from home. Originally based in San Francisco, many company employees have dispersed across the globe since the beginning of 2020.“It has helped us attract top talent. One of the best parts about being a decentralized company is that we can hire more of the best people.”This does not make the company decentralized in crypto terms, as the respondents to the tweet pointed out.Despite being one of the largest fiat to crypto onramps in the world, Coinbase has garnered a

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Bitcoin Correction Looms But Short Term Holding Increases

February 15, 2021

On Sunday, Feb. 14, Bitcoin prices hit an all-time high of $49,850 according to Tradingview, however, on some exchanges it may have reached $50k.Since then, it has begun a sharp correction dropping prices by 7% in a retread to just over $46k during early trading in Asia on Monday. At the time of press, Bitcoin was changing hands for $47,100 and looking in danger of falling further if current support levels fail.BTC/USD Binance – Tradingview.comThe next level of support below the current one is a little over $44k. Blocktower Capital CIO Ari Paul acknowledged what he is calling a “brief and minor correction” but is still convinced we are in the midst of a “violent bull run”;We’re probably entering (I think) a brief and minor correction now, but we’re still in the midst of a violent bull run

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Tether Market Share Slides as Circle’s USDC Makes Big Gains

February 1, 2021

Tether has dominated stablecoin markets for the past three years as the treasury has kept churning them out with a record level of almost 27 billion in USDT circulating now.The latest figures from CoinMetrics, however, indicate that its market share has dropped below 75% for the first time ever. More stablecoin options are good for the industry in general as reliance on one centralized provider for dollar-pegged assets is never a good idea.$USDT market dominance in stablecoins is below 75% for the first time everOn the other hand, $USDC market dominance has grown to its highest ever level of ~15%— (@coinmetrics) January 31, 2021USDC Growing FasterThe main rival to Tether is another centralized stablecoin, USDC, from Circle.

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Blockfolio Launches Zero Fee Trading App With CirclePay

January 29, 2021

Blockfolio has long been a favorite for crypto traders as it provides a handy place to track their assets, trades, and profits (or losses) over time.The app has a reported user base of around 6 million so it has a good head start over rivals. It is also launching with zero fees which will be a bonus in times of high transaction prices for Ethereum based tokens.The new product launch comes five months after the crypto derivatives exchange FTX acquired the firm for $150 Million.Trade crypto and stocks with no fees.— Blockfolio (@blockfolio) January 28, 2021More Crypto Trading OptionsThe move comes a day after popular millennial trading platform, Robinhood, halted trading for a certain stock that has gone viral recently. The new trading platform will put Blockfolio

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Bitcoin Dumps $6,500 in Massive Selloff Below $30K

January 22, 2021

Bitcoin and crypto markets are bleeding out this Friday morning as the selloff which initiated on Thursday, January 21, has continued with fervor into the Asian trading session.Bitcoin has shed a whopping $6,500 since the same time yesterday as it dumped to $29,000. The intraday high for BTC was $35,500 according to Tradingview, and it has currently reclaimed the $30k level.Chart – Tradingview.comFirst 30% Correction In 2020-2021 Bull RunSince its all-time high of $42,000, which was recorded on January 8 this year, Bitcoin price has corrected 30% to current levels which is not uncommon when looking at previous market cycles. Corrections are healthy and need to occur however the speed at which things dump on crypto markets will have the uninitiated in a spin. During the most recent 2017

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Chainlink Price Surges to All-Time High on Continuous DeFi Growth

January 18, 2021

Prices for Chainlink’s LINK token have skyrocketed over 19% in the past 24 hours propelling it to a new all-time high. From an intraday low of just below $20, LINK has surged to reach its highest ever price of $23.60 according to – [email protected] has solved the biggest challenge for the implementation of smart contracts – connecting blockchains to real world data. $LINK price is $23.55 $USD – 24hr volume of $2.52 Billion $USD. $LINK is up 17.20% in 24 hours. $LINK – New ATH $— ƊÓȠ. (@Don_ChainLink) January 17, 2021The big move means that Chainlink has gained a whopping 37% over the past seven days and 65% over the past 30 days.The community, known as ‘Link Marines’, is overwhelmingly bullish even predicting that LINK will

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HSBC Blocks Transactions From Crypto Exchanges

January 11, 2021

As Bitcoin cools from its recent all-time high, HSBC has become the latest banking giant to restrict what its customers can invest in by preventing them from transferring any profits from crypto exchanges to their bank accounts.banAccording to a recent report in The Sunday Times, HSBC has blocked transactions to or from crypto exchanges as it takes a heavy-handed approach to Bitcoin and its brethren. A number of U.K. banks have also made moves to prevent their customers from buying crypto assets using their debit or credit cards.The U.K. is regarded as one of the more anti-crypto nations, alongside the U.S., as its financial institutions and regulators have increasingly strived to stifle the industry.More Banking DuplicityCNBC host and Onchain Capital founder, Ran Neuner, pointed out that

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Morgan Stanley Eyeing Bitcoin With Latest Acquisition

January 9, 2021

There is no denying that institutions and the big players have been the catalyst for this current crypto market cycle and that notion has been reaffirmed by Morgan Stanley’s latest acquisition.According to reports, Morgan Stanley’s investment management arm boosted a stake in Bitcoin vehicle MicroStrategy Inc. to more than 10% late last year.The move signifies a growing interest in crypto assets from major banks which are clearly paying more attention to the space.Boom!Morgan Stanley just filed an SEC form declaring they now own 792,627 shares (10.9%) of MicroStrategy.They’ve increased their position by 360%, adding almost 650,000 shares since Q3 2020.Even the banks want Bitcoin 👀— Kevin Rooke (@kerooke) January 8, 2021Institutional Exposure GrowingAccording to

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Bitcoin Volumes on Exchanges Doubles as Rally Continues

January 8, 2021

Bitcoin is currently trading at around $38,200 as it pulls back slightly after blasting past $40,000 during late trading on Thursday, January 7. At current prices, the asset is up 33% since the same time last week and it still doesn’t look like it is ready to correct yet.Looking at centralized exchange movements could indicate when the inevitable correction will occur and eToro’s Mati Greenspan has observed that Bitcoin volumes across exchanges have just doubled its previous all-time high.Bitcoin volumes across exchanges has just doubled it’s previous all time highest level.— Mati Greenspan (tweets ≠ financial advice) (@MatiGreenspan) January 7, 2021Other metrics indicate that there has been an increased inflow of BTC to centralized exchanges which could be a

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Room To Grow: Retail Interest in Bitcoin At Yearly High But Still Way Below 2017 Levels

December 28, 2020

Three years ago, Bitcoin prices were just cooling off from a surge to an all-time high of $20,000. The altcoins had yet to peak, but this would come in the first week of January.Fast forward three years and Bitcoin prices are just cooling off from a new all-time high of $28,400 on Sunday, December 27 according to that stood their ground and battled through the brutal two-year bear market will have done well. But many that FOMO’d into cryptocurrencies in 2017, possibly getting burnt in the process during that hard and fast selloff in early 2018, appear to be disinterested this time around.No Retail Surge For BitcoinAccording to Skew analytics, taking data from Google Trends, there has been no spike in interest from retail markets during this Bitcoin rally.2017 vs 2020

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Bitcoin Price Surges Towards $27,000 in Latest Rally

December 27, 2020

A record high of $26,940 has been reached by Bitcoin a few hours ago according to The move has added another 7.5% to the price of the king of crypto over the past 24 hours.Currently, prices had retreated slightly to trade at around $26,800 which is not far off the recent high and signs are still indicating that there is more bullish momentum which could push prices up to a whopping $30k or beyond.Chart – tradingview.comAnalyst, Josh Rager, put it simply;“Kind of wild that Bitcoin is closer to $30k than $20k now,”Fellow analyst ‘Bitcoin Jack’ noted that current levels could develop a potential overthrow resulting in a heavy correction.$BTC $26.6 to 30K is a region in which a potential overthrow could develop, only confirmed by falling below the diagonals again, leading to a

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Ledger User Database Dumped Online, Targeted Phishing Attacks Expected

December 21, 2020

A user on crypto twitter going by the handle ‘Jimmy McShill’ [@JimmyMcShill] posted screenshots of files that have been uploaded to forums purportedly contacting the ‘full database’ of Ledger customer’s emails, phone numbers, and addresses;⚠️⚠️ Uhh shiit! A hacker is dumping the full @Ledger database dump for free on raidforums! Emails, phone numbers and addresses!Get ready for a huge spam and phishing wave!#bitcoin #cryptcurrencies #phishing #security— Jimmy McShill (@JimmyMcShill) December 20, 2020Ledger responded stating that they believe the data is from a previous breach and not a new attack;“Today we were alerted to the dump of the contents of a Ledger customer database on Raidforum. We are still confirming, but early signs tell us that this indeed could be

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Research Suggests Coinbase IPO Could be Valued at $28 Billion

December 18, 2020

On December 18, Coinbase Global announced that it has confidentially submitted a draft registration statement with the Securities and Exchange Commission (SEC).The announcement cites Form S-1, which is the initial registration form for new securities required by the SEC for public companies that are based in the U.S. Any company or security that meets the criteria must have an S-1 filing before its shares can be listed on a national exchange.The SEC Form S-1, required by companies intending to file for an initial public offering, is also known as the registration statement under the Securities Act of 1933.A $28 Billion IPOResearcher at Messari Crypto, Mira Christanto, has taken a deep dive into some of the business and trading figures for the firm and arrived at a potential valuation of

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Research Indicates Investments Flowing Out of Gold and Into Crypto

December 9, 2020

The company’s Bitcoin and Ethereum stock traded products have seen $429 million invested last week. It added that this has been the second-highest crypto investment product inflow on record.The latest report from CoinShares stated that total assets under management now total a record $15 billion. It highlighted Ethereum, which stood out over the past week, with inflows of $87 million representing 20% of its total inflows.More notably, the report compared the investment flows from gold to Bitcoin stating;“Gold has suffered with outflows from investment products of a record US$9.2bn over the last four weeks while Bitcoin saw inflows totalling US$1.4bn.”Gold vs Bitcoin PerformanceGold prices have retreated 10% from their high of $2070/oz on August 6 to current prices around $1,860/oz today

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DeFi Token Gains in November Outperform Bitcoin

December 8, 2020

This summer’s decentralized finance boom is far from over. Granted, a large number of the newly minted DeFi tokens have pumped and dumped, but November has seen a major resurgence for many of them as they outperform Bitcoin itself.During the month of November, Bitcoin made just under 40% in a climb from $13,800 to top $19,000 by month-end. It’s long-awaited surge towards its previous high of $20K three years ago has renewed the market momentum and general ‘hopium’ that has been missing for over two years.Bitcoin’s highest ever weekly candle close has set the scene for further gains, but DeFi tokens have made even more.DeFi Tokens on FireIndustry analyst, ‘Ceteris Paribus’ has broken down the gains by token during November using Messari’s DeFi index. The results reveal that 18 of them have

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Five Reasons Ethereum Has Entered a New Bull Market

November 26, 2020

Ethereum is currently retracting sharply from its previous and 30-month peak of $620. Even with a decline of around $100 to today’s prices of $525, ETH is still up over 300% since the beginning of the year.The confirmed genesis of the long-awaited Beacon Chain, which is Phase 0 of the even longer awaited Serenity ETH 2.0 upgrade, has no doubt driven momentum but it is not the only strong point for Ethereum.Over 5 Reasons to be Bullish on EthereumDTC Capital’s Spencer Noon has pulled out a few key charts to back up the notion that we are definitely in a bull run for Ethereum.8 signs we’ve entered a new $ETH bull market 👇🏼— Spencer Noon (@spencernoon) November 25, 2020Active addresses on the network are the first metric as it now has just under 500,000 per day. This is almost double what it

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Ethereum Prices Tear to $585 as Staking Reaches 55%

November 23, 2020

While Bitcoin briefly dabbled with $19k on Saturday, it found resistance there and has retreated a couple of percent to the mid-$18k range. Ethereum on the other hand has kept the momentum running and has powered to its highest price since June 2018.The green candles for Ethereum just keep coming as it surged from just over $500 on Saturday morning to top out at $585 by Monday morning.Over the past seven days, Ethereum has cranked 26% from around $460 this time last Monday. Since the beginning of the year, ETH has surged 350% outperforming its big brother Bitcoin which has only made around 150% by comparison.Chart – tradingview.comNext Target For Ethereum: $620Traders and analysts, such as the popular Josh Rager, are eyeing the next level of resistance which appears on the long-term weekly

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Bitcoin’s Local Top Nailed? Analysts Weigh in on Correction Possibilities

November 19, 2020

Since its epic move to an almost three-year high yesterday, Bitcoin has retreated by around 4% to current prices which are in the $17,600 zone. It does appear to be consolidating here though so another leg up could be imminent.On the flip side, a correction of reasonable size would not be out of the question since previous bull markets experienced several 30% plus pullbacks.Bitcoin Correction ScenariosAnalyst and charting guru Peter Brandt has been delving into the possibilities of a large pullback for Bitcoin which has made a monumental 30% since the beginning of November and reached its highest ever market cap.BTC/USD Bitstamp, Nov19. Source: TradingViewHe stated that there were nine significant corrections during the last bull market of 2015 to 2017 with the average being a 37%

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Can Zcash Halving Finally Revive Depressed ZEC Prices?

November 18, 2020

The maiden halving event will cut the Zcash inflation rate from 25% to 12.5%, which is significant because the privacy-focused altcoin has been hampered by high inflation since its inception in 2016.
A series of halvings every four years beginning with today’s one in around six hours’ time which will decrease inflation substantially. Zcash block rewards will also be cut from 6.25 to 3.125 ZEC per block.
Messari crypto noted that it will also undergo its fourth network upgrade, which could provide up to $70 million in funds to developers over the next four years.

Tomorrow, Zcash will undergo its first halving which will drop its inflation rate from 25% to 12.5%.
It will also undergo its fourth network upgrade, which could provide up to $70M in funds to developers over the

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Bitcoin Taps $16,500 as All-Time High Comes Into Play

November 13, 2020

During Friday morning’s Asia trading session, Bitcoin reached its highest price since January 2018 as it topped out at $16,490 according to The massive move has built upon November’s momentum adding a further 5% to the king of crypto over the past 24 hours.
This week alone, BTC has made 7% and since the beginning of the month less than a fortnight ago, it has cranked 20% outperforming nearly every other traditional asset class.
Chart – tradingview.comBTC appears to be eating into altcoin markets again as its dominance has spiked to a six month high of 66%.
Bitcoin ATH Back In-Play
Analysts are now eyeing the previous all-time high of $20K as the next target should the momentum keep building. BTC is now only 21% away from this lofty peak which was last seen

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Bitcoin Stock-to-Flow Model Still on Track Despite Big Bets Against it

November 12, 2020

Bitcoin re-tapped its highest price since January 2018 a few hours ago as it came within a whisker of $16,000. For the second time this month, that price level proved to be too much resistance and the asset has fallen back to $15,750 at the time of writing.
The bullish momentum over the past month has kept Bitcoin well within the parameters of analyst ‘PlanB’s’ stock-to-flow model.
Stock-to-Flow on Target
The stock-to-flow (S2F) model was initially published in March 2019, delving into the relationship between the production of supply and the current stock available, essentially calculating Bitcoin’s value through scarcity.
It has mapped Bitcoin’s price with a high degree of accuracy following three halving events now. The 2020 halving year is playing out the same way as

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Uniswap TVL Tops $3 Billion But Farms Closing Soon, What Will Happen to UNI Prices?

November 11, 2020

The milestone comes as TVL across all DeFi protocols hits a record high of $13 billion according to Defi Pulse. So far this month, over $2 billion has been added to DeFi protocols in terms of dollar value crypto collateral, but some of that may be attributed to the increase in Ethereum prices.
In terms of ETH, there is now 8.5 million, or 7.5% of the total supply, locked in DeFi and 3.3 million ETH on Uniswap alone.
Uniswap, The King of DeFi
Uniswap remains at the top of the pile in terms of TVL with a market share of 23%. According to, liquidity has reached a record $3.3 billion while volumes are at $260 million per day. Almost half of that liquidity is in Ethereum.
Charts – uniswap.infoMessari researcher Ryan Watkins has looked into volumes on Uniswap

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Bitcoin SV Multisig Bug Exploited Resulting in Potential Coin Loss

November 9, 2020

The exploit was reported by Blockstream co-founder Gregory Maxwell (a.k.a. /u/nullc), and retweeted by crypto podcaster Ruben Somsen;

Multisig bug in BSV exploited, funds stolen🍿
BSV ripped out the existing multisig (p2sh) and replaced it with a threshold script that was SUPPOSED to accept X sigs or more, but instead accepted X or LESS (including zero)🤦‍♂️
Full thread by Maxwell (nullc)
— Ruben Somsen 🚵‍♀️🚵‍♂️🚵🚳 (@SomsenRuben) November 8, 2020
The pay to script hash (P2SH) was deprecated as part of the Bitcoin SV Genesis upgrade in February 2020. It had been replaced with this new threshold based script which was supposed to accept more than a set number of signatures.
Accidental and Untested
As explained by cryptographer Adam Back the bug created a

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Ethereum Social Sentiment Surges as Staking Starts

November 6, 2020

Ethereum is one of the best performing crypto assets of the day, albeit behind its big brother. ETH prices got their initial boost on November 4 when the deposit contract was officially deployed. The asset rose 5% on the back of that to reach $405.
Bitcoin is a bigger driver of momentum for ETH prices as today’s 8% surge to $440 illustrates. Either way, social engagement for Ethereum has cranked over the past day or two according to analytics from LunarCrush.

Ethereum 1-Day Social Engagement is up 26.5% with 74,400,934 engagements on @LunarCRUSH. View all $eth social metrics at #ethereum
— LunarCRUSH Social Listening for Cryptocurrencies (@LunarCRUSH) November 6, 2020
Ethereum Staking Taking Off
This trend is likely to continue as staking gains

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