Tag Archives: ETHBTC

BitcoinBitcoin witnessed a 1.5% price decline over the past week as the cryptocurrency drops into the $9,190 level. The coin was trading at this price at the start of the week as it managed to push higher into the $9,815 level. BTC was unable to overcome this resistance, which caused it to fall back into $9,190.The crucial thing about this week’s price drop is the fact that BTC looks like it broke beneath a rising trend line that has been in play since mid-March 2020. If BTC continues beneath...

Ethereum saw a slight price drop today as the coin falls from $250 into the $233 level.Luckily, Ethereum found support at the rising trend line as the buyers battle to remain above.Against Bitcoin, Ethereum is re-testing the strong resistance at 0.0253 BTC.Key Support & Resistance LevelsETH/USD:Support: $225, $215, $210.Resistance: $250, $265, $275.ETH/BTC:Support: 0.025 BTC, 0.0243 BTC, 0.0239 BTC.Resistance: 0.026 BTC, 0.0263 BTC, 0.0266 BTC.ETH/USD: Ethereum Returns To Trend Line...

Over $180 million worth of Ethereum has been moved from a previously dormant wallet belonging to the perpetrators of the PlusToken scam.PlusToken was a Ponzi scheme that operated mainly in Korea and China in 2018 and 2019. The scammers managed to siphon over $3 billion from naive investors before the project was shut down in June 2019.$180M Worth of Ethereum On the MoveThe movement of 789,534 ETH from the Plus Token scam wallet was announced on Wednesday, June 24, by cryptocurrency monitoring...

Decentralized finance (DeFi) project Balancer Labs officially announced the launch of its native governance token BAL on the Ethereum mainnet, with the price of BAL tokens increasing significantly following the launch. Balancer Follows Compound’s LeadThe news of the BAL governance token launch was made by CEO and Co-founder of Balancer Labs, Fernando Martinelli, via a Medium blog post on Tuesday (June 23, 2020). According to the announcement, the team is employing an “on-chain governance...

Ethereum saw a 2.7% price hike today as it reached $245.The cryptocurrency rebounded from the rising trend line to push higher and keep the bull run alive.Against Bitcoin, Ethereum also bounced higher from 0.0245 BTC to reach the June resistance at 0.0253 BTC.Key Support & Resistance LevelsETH/USD:Support: $225, $215, $210.Resistance: $250, $265, $275.ETH/BTC:Support: 0.025 BTC, 0.0243 BTC, 0.0239 BTC.Resistance: 0.026 BTC, 0.0263 BTC, 0.0266 BTC.ETH/USD: Ethereum Rebounds From Rising...

An average of $15 million worth of ETH has been locked into Ethereum’s DeFi protocols each day for the past week. That equates to more than four times the amount of Ethereum, which is produced every day as a result of mining.Ethereum’s DeFi Protocols See Huge InfluxAccording to data from DeFiPulse.com, over $500 million entered various DeFi protocols in the past seven days, averaging just over $78 million per day. Lock-ins of ETH specifically numbered 461,000 in that time, equating to an...

Recent data indicates that Ethereum miners prefer holding their mined coins and have increased their balance in the past few weeks. At the same time, the number of ETH addresses containing from 100,000 to 1,000,000 coins have jumped by nearly 5% in June alone.Ethereum Miners HODLBecause of the current proof-of-work consensus algorithm that Ethereum employs, the network relies on miners to use their time and processing power to solve cryptographically difficult puzzles. If successful, miners...

Bitcoin and alternative cryptocurrencies have become largely correlated over the past couple of years. Whenever there’s a serious move in the price of BTC, altcoins are almost always following the lead.A well-known startup investor and trader, Qiao Wang, took the opportunity to comment on the matter, outlining the reason for this correlation.Why Bitcoin and Alts Are Correlated?According to the specialist, the correlation between Bitcoin and alternative cryptocurrencies has a lot to do with...

The sudden jump of total value locked on the DeFi platform Compound has caused a flippening event in the decentralized finance sector. The TVL on Compound surpassed MakerDao’s as of yesterday, and the gap continues expanding today.Compound Overtakes MakerDAOMakerDAO has been the predominant force for total value locked for years, according to data from the DeFi monitoring resource – DeFi Pulse. Its influence over the entire marker was so unambiguous that the website tracked “Maker Dominance,”...

Vitalik Buterin, the co-founder of Ethereum, has recently stated that interest rates on decentralized finance protocols that are significantly higher compared to those in traditional finance come with unstated risks attached.Vitalik Buterin on High DeFi Interest RatesThe co-founder of Ethereum and one of the most prominent members of the cryptocurrency community, Vitalik Buterin, recently took it to Twitter to comment on high yields and interest rates associated with Decentralized Finance...