Ethereum (ETH)

Glassnode published a report on Monday breaking down investors’ on-chain behavior after the U.S. Securities and Exchange Commission (SEC) sued two of the world’s largest cryptocurrency exchanges.  The report acknowledged a boost to the number of short-term crypto holders sending their balances onto exchanges.  Exchange Deposits and Withdrawals The report echoed findings from last week showing that Binance experienced significantly higher withdrawals immediately following the...

Predicting the next cryptocurrency to explode, buying early, and retiring as a millionaire is difficult, but some have made it. Even though it might be harder to do with small investments in big projects like Bitcoin and Ethereum, meme coins have proven again and again that it’s doable, even with a tiny investment. Of course, the risks associated with it are higher, but there are many stories of people turning $1 or $2 into millions through meme coins like SHIB or PEPE. In...

Ethereum’s price has recently broken below the 100-day moving average, resulting in a decline toward the significant support region of around $1.7K. It is crucial to closely monitor the price action in this important area as it may provide a clear indication of the next movement of ETH’s price. Ethereum Price Technical Analysis By Shayan The Daily Chart Ethereum had been struggling to breach the 100-day moving average for a prolonged period but has finally broken below it on...

DeFi hacks have gone through the roof in recent times and many will argue that the DeFi ecosystem has proven time and again that it is indeed an exploiter’s paradise. Decentralized finance (DeFi) protocol Sturdy Finance is the latest victim in a long list of DeFi hacks. The Sturdy Finance platform has reportedly lost 442 ETH (worth a little above $800,000 as of publication), to a daring security exploit. Blockchain security firm PeckShield was the first to notice what appeared to be a...

Arbitrum has managed to rake in a significant market share as demand for Ethereum rollups soars. According to data shared by CoinShares, Arbitrum remains the top destination for capital flows away from Ethereum, among other protocols as well as layer 2s. As of May-end, the network attracted capital worth $4 billion. Closely following Arbitrum is Polygon raking in capital worth $3 billion, followed by Optimism with $983 million, and dYdX with $342 million, the stats revealed....

The market took a beating over the past 24 hours, and certain altcoins performed a lot worse than others. A lot of the worst-performing cryptocurrencies were also named in the lawsuit that the US Securities and Exchange Commission filed against Coinbase. The agency alleges that they are securities. These include Cardano’s ADA, Solana’s SOL, NEAR, Polygon’s MATIC, and so forth. Bitcoin is down 3.4%, while Ethereum – 5.7%. Even though both of them decreased, it’s nowhere near...

In a rare good news story this week, Ethereum co-founder Vitalik Buterin revealed that, along with Polygon’s Sandeep Nailwal, he has pledged another $100 million for Covid relief. On June 9, Buterin said he and Sandeep “discussed and jointly concluded these and other projects are high-impact and need follow-through grants.” “Hence we decided to put $100 million more to these projects.” Last year, the pair donated a similar amount through the community-driven Crypto Relief...

The past 24 hours saw the majority of altcoins crash by a considerable margin and there are no signs of slowing down. However, there’s also a clear discrepancy between the price performance of certain altcoins to that of Bitcoin and Ethereum, both of which have remained relatively resilient. Bitcoin Dominance Soars Over the past 24 hours, Bitcoin’s dominance increased to around 46% (data from CoinGecko). This is a major difference. The metric tracks Bitcoin’s share relative...

Ethereum co-founder Vitalik Buterin believes Ethereum still requires “three major technical transitions” to fully mature as a tech stack – and anything less will be insufficient.  In a Friday blog post, the developer highlighted what’s needed to implement each of his ideal improvements, which could include “deep changes from applications and wallets.” Scaling, Security, and Privacy According to Buterin, Ethereum’s three transitions include layer-2 scaling (rollups), enhanced...

While the current FUD surrounding crypto is regarding the SEC suing crypto exchanges for selling securities, history often repeats itself, and the last bull market saw crypto prices plummet as Tesla dropped BTC payments due to environmental concerns. Therefore, cryptos that take sustainable climate action could perform well next time the sustainability narrative arises. We have already seen the top altcoin, Ethereum, make efforts to become more environmentally friendly. After...