Ethereum surged by a substantial 10% surge over the weekend as it hit a high of $440 today.The cryptocurrency broke above the previously highlighted pitchfork on the 4-hour chart.Additionally, Ethereum penetrated above a falling price channel against Bitcoin over the weekend.ETH/USD – Bulls Re-Test 2020 HighsKey Support Levels: $420, $408, $400.Key Resistance Levels: $438, $450, $463.Last week, Etheruem fell into the $380 support (downside 1.272 Fib Extension) and rebounded. At the time, it...
Read More »Market Watch: Over 100% Gains For YF Defi Tokens, Bitcoin Is Stable
Bitcoin seems stable after recovering from its drop to $11,100 and trades above $11,500. However, massive gains are evident among lower-cap alts and DeFi tokens, including YFI that doubled BTC’s all-time high. As such, Bitcoin’s dominance over the market has decreased by over 1%.YFI To $40k, Low-Caps SurgingIt’s no secret that the DeFi sector has been cryptocurrency’s hottest topic recently.YFI’s fork, which recently rebranded its name from YFII Finance to DFI.Money is the clear leader in...
Read More »SUSHI is The New DeFi Hit: $350 Million Already Locked in Farming As The Token Dumped 99%
Every day brings something new to the cryptocurrency market as the DeFi craze continues to boom and surprise.Announced on August 26th, the SushiSwap project is attempting to take the concept behind the leading decentralized exchange protocol, Uniswap, and offer an alternative with further incentives to liquidity providers.Enters SushiSwap: What is it?In an announcement from August 26th, a team of developers revealed the SushiSwap project – an initiative attempted to be “an evolution of...
Read More »Bitcoin Reclaims $11.5K, ETH Above $400: The Sushi Farming Tokens Skyrocket (Market Watch)
Following a few days of adverse price movements, most of the cryptocurrency market is recovering and is in the green today. Bitcoin is up to $11,500, Ethereum is trading above $400 for the first time since Tuesday. Even more impressive gains are evident from the lower-cap alts.Bitcoin Back Above $11,500The primary cryptocurrency saw its fair share of price dumps in the past few days. BTC even experienced quite volatile developments following an announcement from the US Federal Reserve...
Read More »Crypto Price Analysis & Overview August 28th: Bitcoin, Ethereum, Ripple, Chainlink, and Polkadot
BitcoinBitcoin saw a small 4% price drop this week as it headed into the $11,300 support (downside 1.272 Fib Extension). During the week, the coin broke beneath the August rising trend line. The bulls attempted to recover, but the previous support flipped into resistance and the buyers failed to overcome it.On Tuesday, Bitcoin plummeted by 6% from $11,770 to a low of $11,150 (.382 Fib Retracement). Luckily, the bulls pushed higher to close the daily candle above the $11,300 support (downside...
Read More »Over $12M Gas Fee Spent on Uniswap in August With Most Coming From USDT Transfers
The leading decentralized exchange has recorded more volumes in August than it did in July.Uniswap saw more than $300 million in trading volume over the past 24 hours and $2.5 billion in the last seven days, according to data on Dune Analytics.Uniswap Spends The Most Gas FeeUniswap’s impressive volume is also putting smiles on Ethereum miners’ faces as they cash out more gas fees to process and verify transactions on the network.According to data on EthGasStation, transactions on Uniswap...
Read More »Bitcoin Defends $11,100 While Large-Cap Altcoins Struggle (Market Watch)
Despite Bitcoin’s tumultuous performance following an announcement of the US Federal Reserve regarding its new approach to average inflation targeting, the cryptocurrency has managed to stabilize around $11,400 where it’s currently trading at.Elsewhere, Chainlink and Polkadot are both in red but LINK has returned to the top 5 coins by market cap.Bitcoin Spikes And DropsAs CryptoPotato reported yesterday, the US Federal Reserve announced new plans to target inflation averaging 2% over time....
Read More »Coinbase Launches USD Coin 2.0 to Delegate Gas Fees
Centre Consortium members Circle and Coinbase have just launched an upgraded version of their popular USDC dollar-pegged stablecoin. Going live on August 27, USDC 2.0 aims to tackle high gas fees by allowing developers to delegate it to other wallets or take fees in USDC instead.Removing ETH From The PictureThe official announcement explained that most users need to keep a balance of Ether in their wallets to make transactions. It added that this resulted in unnecessary complexity:“This...
Read More »Ethereum Price Analysis: ETH Fights For $380 Before Further Downside Action
Ethereum had dropped 5% on the weekly. However, there is strong support built upon the $380 area. The last time ETH daily closed below $380 was 2.5 weeks ago.Overall in August, ETH is mainly trading in the range between $380 – $400 and must break this range to dictate the next direction for the market. Earlier today, ETH saw a pump and dump towards $400 around the Fed’s statement regarding the inflation.Key Support Levels: $382, $375, $364Key Resistance Levels: $400, $408, $438ETH/USD Daily...
Read More »Giants Connect: New General-Purpose Bridge Between Polkadot and Ethereum
Polkadot is growing in popularity, and this has been thoroughly reflected in its price. In a matter of days, the project managed to occupy the 6th spot of the top 10 largest cryptocurrencies, boasting a total market cap upwards of $1.05 billion.Now, a team of developers has announced that it’s building a trustless general-purpose bridge between Ethereum and Polkadot.Bridging Polkadot and EthereumSnowfork, an agency consisting of a collection of developers, product managers, and designers, has...
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