Altcoin News by Thebittimes.Com

The Ethereum network has undergone notable changes in recent times. On September 15, 2022, the network transitioned from a proof-of-work mining model to a proof-of-stake model. This transition has led to a significant reduction in energy consumption, with reports indicating a 99.95% decrease. A few days ago, the network implemented the Dencun upgrade, which was designed to improve its functionality and performance. However, following this upgrade, the price of Ethereum ( ETH ) has experienced a decline, falling below the $4,000 mark. ETH had recently shown growth, surpassing $4,000. However, the coin has since experienced a decrease in value along with the broader cryptocurrency market. As of press time, ETH is trading at $3,321, which represents a 6.6% decrease in the last 24 hours. Despite this recent decline, ETH remains up by 83% year-to-date and is still the second-largest cryptocurrency by market capitalization. Also read: Can Dogwifhat (WIF) Hit $10 After ...

With Bitcoin surging above $71,000 for the first time, altcoins like Ethereum have embarked on renewed waves of recovery so far in March 2024. Amidst this bull run,  ETH  prices tapped new yearly highs, feeding optimism around the crypto’s outlook. The big question now is: just how high can Ethereum trend in the months ahead? Analysis of price charts reveals Ethereum, with its $479 billion market cap, has surged past the $4,000 level for the first time in two years. A 75% increase in trading volumes to $22 billion supports this signal of strengthening upside momentum. After logging 15% gains last week, ETH has rallied 60% across the past 30 days. Ethereum has notched a bullish milestone that hints at a trend reversal. Also read: Cryptocurrency: Top 3 Coins To Buy Under $10 For Better Gains Can Ethereum hit $5,000 next? If Ethereum’s price is able to sustain support around the $4,000 area in the coming weeks, some analysts estimate the next likel...

Ethereum ( ETH ) gained over 6% in the last 24 hours, notching its third straight day of upside. The recent rally coincides with the wider crypto market awakening from its months-long slumber as Bitcoin topped $50,000. With bullish momentum accelerating, analysts watch for ETH to challenge key resistance levels to the psychological $3,000 mark. After rangebound trading between around $2,185 and $2,250 for several weeks, ETH finally broke out above the $2,330 resistance level that had capped previous rally attempts this year. Strengthening upward momentum saw prices gain 6% Monday and extend higher. Also read: Bitcoin Enters “High-Risk” Zone Hinting at Early Bull Market: Glassnode The asset now trades for around $2,645. Still, analysts caution that Ethereum may face selling pressure near the $2,700 zone that repeatedly rejected upside breakouts last fall. Can Ethereum hit $3,000? The daily Moving Average Convergence Divergence (MACD) histogram shows sustained buying press...

Ethereum [ETH] recently experienced a significant decrease in exchange outflows. According to data from Glassnode, the volume of Ethereum withdrawn from exchanges reached a six-month low of $11,062,094.68. The decline in Ethereum exchange outflows is seen as a positive signal for the crypto. This decrease in outflows suggests a drop in selling pressure, which is typically a bullish sign. Furthermore, Ethereum has experienced a significant decrease in exchange inflows since the start of the year. Such a development might help in contributing to the upward movement of Ethereum’s price in the market as well. Source At press time, ETH was trading at $1,863 experiencing a 0.83% decrease in its daily value. Although the overall market sentiment seemed lackluster, there were several indicators suggesting the possibility of a significant upswing for the leading altcoin. Also Read: Ethereum Tops Institution-Grade ESG Ranking, Bitcoin Ranks 20th Big bullish bets According to d...

Ethereum ( ETH ) co-founder Vitalik Buterin was the latest guest on Bankless. Bankless co-owner David Hoffman first asked Buterin to reflect on the past year and all the lessons learned in 2022. Buterin replied that 2022 was a complicated year. And indeed it was. Although there were several negative “blowups,” the 28-year-old programmer believes it is essential to remember the positives. Buterin names Ethereum’s “merge” as one of the positives of 2022. The network’s transition to a Proof-of-Stake (PoS) consensus model was som ETH ing the community worked on for many years. Buterin highlighted how the transition reduced Ethereum’s energy consumption by 99.9%. Buterin also added that 2022 was the year of zkEVM. From being just a “pipe dream,” many zkEVM projects are promising mainnet launch by next year. However, 2022 has not particularly been a good year for the financial sector, let alone cryptocurrencies. ETH has lost al...

Ethereum ( ETH ) moving to a Proof-of-stake (PoS) m ETH od of consensus was one of the most historic moments for the network and the crypto industry. Although the move was deemed as “selling the news,” new startups are coming up to utilize the transition. Recently, the Paris-based Ethereum staking-as-a-service startup, Kiln, raised $17.6 million in a Series A funding round. Among the investors were Consensys, GSR Ventures, and Kraken’s venture capital arm. Along with previous investors 3KVC, SV Angel, and Alven, the round also included participation from LeadblockPartners, Sparkle Ventures, and XBTO. The organization indicated that in order to satisfy the expanding customer need for risk spreading, the staking market must go beyond operating validators and become institutionalized. Enabling multi-provider staking entails developing APIs and services that are independent of validators. In turn, this makes it possible to stake digital assets anywhere they...

A few hours back, Changpeng Zhao revealed that Binance will start liquidating its FTT HODLings post “recent revelations.” The largest exchange’s executive, however, clarified that his company was “not against” anyone, but at the same time, wouldn’t support people who “lobby against other industry players” behind their backs. Read More: Binance will liquidate its FTT tokens after ‘recent revelations’ On the news of the same, outflows on the exchange started rising and prominent firms started withdrawing assets from FTX. Blockchain security firm and analytics platform PeckShield revealed that ~$40.4M USDC had been transferred from FTX to Jump Trading over the past 24 hours. #PeckShieldAlert ~$40.4M $ USDC (~$40.4M) has been transferred from FTX : 0x2fa to Jump Trading : 0x4f1 within the last 24 hours, pic.twitter.com/cCETIXrdYM — PeckShieldAlert (@PeckShieldAlert) November 7, 2022 In another transaction, arou...

The earnings report season is already here. Wall Street companies have been releasing their third-quarter reports back-to-back, chalking out the same. A day back, FinServ company Robinhood reported a net loss of $175 million in Q3. Read More: Will Robinhood continue making advancements in the crypto space ? Coinbase was the latest to release its report. The publicly traded company operating a crypto exchange incurred a third-quarter net loss of $545 million, marking a reduction of nearly 50% when compared to the past quarter. Despite being able to cut down its losses, the company’s transaction revenue had fallen from $655.2 million in the second quarter to $365.9 million—signifying a 44% dip. JUST IN: Coinbase $COIN reports a net loss of $545 million in Q3 2022. — Watcher.Guru (@WatcherGuru) November 3, 2022 The company stated the poor macro conditions, the shift in its trading volumes away from the United States due to the absence of regulatory cla...

The last week of October was a game-changer. The month, which was initially monotonous, closed on a positive note, thanks to a collective surge registered by top assets. While Bitcoin’s gains remain capped at 7% on the weekly, Ethereum’s numbers stood at a much-elevated 17%. Post the said surge, the $195.2 billion market-capped asset was trading at the brink of $1600 at press time. Ethereum Investors reach ATH of 88.5 million Irrespective of the price, the adoption of Ethereum has been going on at a swift pace. There has been no looking back for the curve showing the number of non-zero addresses. The said metric claimed a new ATH of 88,580,275 on Tuesday, bringing to light the rise in the number of investors in the Ethereum ecosystem. Source: Glassnode Alongside, large market participants also continue to add to their HODLings. Per Santiment, “Ethereum’s top 10 largest non-exchange addresses have been accumulating assets after their big drop-off lead...