Ethereum Near Inflection Zone, Why ETH Could Tumble Below $570

Ethereum traded to a new yearly high at $636 before correcting lower against the US Dollar. ETH price is showing bearish signs and it could decline heavily if there is a break below $570. Ethereum started a downside correction after trading to a new yearly high at $636. The price is trading below the $600 level and approaching the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $590 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely…

Coinbase Announces ETH 2.0 Staking Rewards, Launch in Early 2021

Key Takeaways The ETH 2.0 upgrade will eventually halt ETH mining in favor of Proof of Stake consensus through staking and validating. Coinbase announced on Nov. 30 that it would support ETH 2.0 staking. Coinbase customers will be able to convert ETH to ETH 2 and earn staking rewards among other features. Share this article Coinbase’s announcement that it will support ETH 2.0 staking rewards is a big step in adopting Ethereum’s network upgrade. Pundits claim that Proof of Stake (PoS) is a more energy-efficient and sustainable method of validating…

ETH Back Above $600, Ethereum 2.0 a Day Away

Key Takeaways Ethereum is back above $600, following a brief dip last week. The number of Ethereum nodes briefly surpassed Bitcoin earlier on today. The update comes just ahead of the Phase 0 launch of Ethereum 2.0, as validators prepare for staking. Share this article ETH has moved back to bullish.  Ethereum’s native currency suffered a minor retrace last week, dipping below $500 following a violent surge above $600. Bitcoin also took a hit. Some experts had drawn comparisons between the latest dip and gold in the 1970s when a…

ETH 2.0 confirmed for Dec. 1 launch just hours before deadline

ETH 2.0’s beacon chain genesis has been confirmed for Dec. 1, following the transfer of 524,288 Ether from 16,384 validators into the ETH 2.0 deposit contract since it went live on Nov. 4. Despite early concerns stemming from low staking participation, transfers to the deposit contract rapidly increased over the past day — with more than 200,000 ETH being sent to the contract in the past 14 hours. Ether sent to deposit contract over time: Dune Analytics ETH 2.0’s beacon chain genesis is now set to take place on the…

ETH 2.0 set to launch Dec. 1 after late surge in deposits

ETH 2.0’s Phase 0 launch looks all but certain for Dec. 1, with the number of Ether transferred to the ETH 2.0 deposit contract snowballing as today’s deadline approaches. As of this writing, nearly 499,000 of the 524,288 Ether required to secure the Dec. 1 beacon chain genesis has been deposited into ETH 2.0’s deposit contract, with 11 hours remaining for the deadline to be reached. Less than 32,000 Ether is now required and more than that was deposited in the past six hours alone. Hourly deposits increased from approximately…