Ethereum (ETH)

CryptoCom is the latest exchange to provide proof of reserves amid soaring demand for industry transparency stemming from FTX’s collapse.  The audit found that its customers’ balances for multiple top cryptocurrencies, including Bitcoin and Ethereum, are over 100% backed.  As the exchange announced on Friday, its proof of reserves featured an audit from Mazars Group – an independent crypto-focused advisory firm that also carried out Binance’s proof of reserves last month. ...

Ethereum’s price is currently facing crucial resistance, and the current focus is to surpass it. A successful breakout from this level could potentially result in bullish momentum in the near term. Technical Analysis By Shayan The Daily Chart Ethereum’s price has been forming a descending flag price pattern over the last few months. After recently touching the lower trendline, it has initiated a small rally with extremely low momentum. The price is now consolidating around...

Huobi Research, an affiliate of Huobi Global, estimated in its Global Crypto Annual 2022-2023 Report that the prices of bitcoin and ether will start surging after the first quarter of 2023. Until then, they might find a bottom at $15,000 and $1,000, respectively. The company touched upon the FTX’s meltdown, describing it as “one of the catastrophes in the financial world.” Other incidents in the world of crypto so far this year include Terra’s collapse and the bankruptcy of...

This week, we take a closer look at Ethereum, Ripple, Cardano, Binance Coin, and Litecoin. Ethereum (ETH) In the past week, Ethereum consolidated its price above the key support at $1,240 by moving sideways, which did not allow it to diverge much compared to seven days ago. However, this price action made a higher low which could be interpreted as bullish. If buyers return to ETH, the next key resistance is found at $1,365, where it is likely to face a more significant...

Users of the Alameda-backed Ren Protocol risk losing their money if they don’t take immediate action, warned the project team over Twitter on Thursday. The cross-chain bridge said the upcoming upgrade (Ren 2.0) to its existing product (Ren 1.0) may not be compatible with the prior version.  Disconnecting From Alameda Ren encouraged users to quickly burn tokens issued by their bridge service in return for their underlying assets or to “risk losing them,” as a result of the...

Financial service behemoth PayPal has announced expanding its crypto service to Luxembourg soon in its first foray into the European Union (EU). According to an update shared by the company, the service will be made available in the “coming days,” following which eligible customers will be able to buy, sell and hold crypto-assets in their PayPal accounts via the website or the mobile app. Initially, support will be rolled out for Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC),...

The FTX meltdown may have laid the groundwork for an unprecedented shift in user activity from centralized finance (CeFi) to decentralized finance (DeFi), but the total value locked in the services provided by the latter has taken a serious hit. A new report by Dapp Radar suggested that the non-fungible token (NFT) market has not been spared by the downtrend either. DeFi, and NFT Winter Typically considered a potential antidote to the collapse, the total value locked across...

[PR – Southington, United States, 7th December, 2022, Chainwire] Bulls & Apes Project LLC (B.A.P.) introduces Community Tokenization, an industry-changing initiative. B.A.P., a web3 company with a vision to create a world of infinite opportunities, launched its inaugural collection on May 31, featuring an industry-first 6-Month ETH-Back Guarantee, and has defied bear market conditions by continually delivering value and building a robust community. Many NFT projects...

Crypto firm Block Mate Ventures has launched a new platform that will allow its customers to engage in instant crypto transactions. Traders and investors can log onto the website and instantly purchase assets like bitcoin and Ethereum in mere minutes or seconds. Block Mate Ventures Seeks to Make Crypto Purchases Faster The purchases can be done through credit cards or other local payment methods. Block Mate Ventures is introducing a new simplified interface that will be easy and readable...

Yet another US politician at the center of crypto industry regulation has changed stances on Ether’s legal classification. Senator Cynthia Lummis (R-WY) revealed Wednesday that she now views the second largest cryptocurrency as a security – not a commodity.  Bitcoin is the Only Crypto Commodity: Lummis Lummis expressed her changed view on the asset with CoinDesk on Tuesday while discussing the measures that may have prevented FTX’s collapse last month. She suggested that her...