Ethereum is Gearing Up for a Massive Breakout; Heres How High It May Surge

According to the official announcement, the Avalanche team is releasing nine new NFT collections on the network after casting Fireheadz this week. Lately, Avalanche registered https://cryptoclubocc.com/ an all-time high in the day-to-day transactions metric. It was achieved when the metric touched more than 1.50 million transactions on the day-to-day chart on 9 August.

Have crossed above the 50 and 0 levels, indicating a bullish trend. Concerns about the Federal Reserve’s monetary policy and the economy and the renewed threat of more stringent regulatory oversight strained support for bitcoin and the broader market. Furthermore, the ETH/USDT has already crossed the RSI 50 ceiling, and the RSI value is now near 61, indicating that the uptrend is continuing. Although some of the earlier bulls may have cashed out, the bears are likely to continue putting pressure on the pair as the week progresses. The RSI, BBs and Volume are all signalling a sideways market up ahead.

UK’s National Crime Agency (NCA) Announces New Crypto Crime Unit

If you are planning to trade crypto, please consult a financial adviser. Ethereum transactions outpaced BTC over fourfold in 2022 with over 400 million trades. BTC topped the search charts as expected, with Ethereum finishing https://cryptoclubocc.com/south-korean-crypto-exchange-becomes-the-first-overseas-platform-legally-recognized-in-china/ the year in a distant fourth place behind Shiba Inu and DOGE.A cross-section of… Ethereum Name Service clocked in over 2.2 million domain names in 2022 despite the devastating turmoil in the crypto market.

More recently, the price moved up to test a downward sloping trend line. The move did move above the falling 100 day MA but could not sustain momentum . Both assets have reached crucial areas of resistance after the recent rebound. If the number of distinct and unique addresses on the Ethereum network continues to increase at the same rate, it will reach over 220 million by 2022. After the day of the Fed meeting, Bitcoin lost more than $1k and closed the day at around $20,260.

• For instance, the MACD shows histograms in the reds with increasing intensity.
• Mudrex CEO and co-founder Edul Patel also agreed that the dip in ETH and the overall crypto market is a result of macroeconomic factors.
• Seems to have faded a bit as investors are getting back to crypto trading.
• Altcoins are struggling, and this week’s bear market has affected the whole crypto market.

Treasury Department’s Office of Foreign Assets Control censoring transactions related to sanctioned addresses as a key risk factor on the exchange’s staking business. Coinbase CEO Brian Armstrong said on Aug. 18, that he prefers not censoring transactions to and from those addresses after the transition to proof-of-stake. Ripple released at least 1 billion XRP coins at the beginning of the year from its escrow. If the current trend continues, the ETH/USD pair could surpass the significant resistance point at $2,533. An extended rally could bring the all-time high ($2,644) into focus, paving the way for ETH to set a new all-time high above this. Instead of simply investing in equities linked to cryptocurrencies, these crypto ETPs enable investors with either direct exposure to them or through futures contracts.

Ethereum (ETH), Polygon (MATIC), and Fantom (FTM) Whales are Gearing up to Join Uniglo (GLO) Presale

ETH is yet to drop below the $1000 mark, this is considered a positive sign since ETH closed above $1000 for less than 30 consecutive days in 2018 and 2019. The previous price rally had cumulative trade volume below $4 Billion and currently, it is around $11 Billion. Though ETH locked in DeFi TVL has dropped from 9 million to 7 Million in 90 days, the investment flow in DeFi may change this soon with increasing TVL. In the past 90 days, DeFi’s TVL increased from $10 Billion to $27 Billion.

SOL Nurtures The Bullish Case

Though Ethereum’s chart shows volatility at the current price level, it has remained range-bound. The dropping active supply that is key to Ethereum’s alt season narrative, has continued to decline and has hit a three year low. The 3-year low of 14 Billion, signals that Ethereum could possibly be gearing for another pump. The trade volume has steadily increased on spot exchanges, though the asset is volatile and supply is leaving exchanges. The major network upgrade saw ethereum transition from proof-of-work to proof-of-stake. It is now trading above $1,300 and the 100 hourly simple moving average.

It is one of the fastest and most scalable decentralized platforms in the market, making FTM one of best-performing altcoins in the industry. During the first couple of weeks of May, investors feared a possible collapse, as an FTM whale fully liquidated his/her holdings. Despite the whale’s move, however, the price of FTM managed to grow 20% in the subsequent weeks. At the start of July, the platform saw some ETH whales accumulating about 26,200 FTM tokens, which amounted to $6,726. They’re holding on to some big-name coins like Ethereum , Polygon , and Fantom , waiting for any incremental price increases that could help counter the significant losses they’ve had in the past few months.