Ethereum (ETH) May Be Forecasting 50% Drop Against Dominant BTC

For over two years now, Bitcoin has been outperforming altcoins like Ethereum and others. BTC dominance has continued to climb as a result. However, Ethereum may be forecasting another 50% drop on the ETHBTC trading pair that could bring dominance back to pre-bubble levels. ETHBTC Points To Dangerous Ethereum Drop Against Bitcoin In early 2020, Ethereum vastly outperformed Bitcoin due to surging interest and buzz surrounding decentralized finance. Talk of the 2020 launch of ETH 2.0 kept bullish momentum high enough for a record-setting nine full weeks of consecutive green…

Ethereum Network Use Hits a New All-Time High — Will ETH Price Follow?

According to a recent report by Delphi Digital, the total gas used on the Ethereum blockchain has reached an all time high and it seems like this the figure is set to increase. Gas is the measure used to price fees on the Ethereum blockchain, and the overall use of gas on the network has been rising since the beginning of 2020.  Gas Used vs. Max Gas Possible. Source: Delphi Digital The total gas used is unlike the transaction fee metrics in the Bitcoin blockchain. On the Ethereum network, transaction…

Ethereum Investors Appear to FOMO as Speculation Mounts Around ETH 2.0

The upcoming launch of Ethereum 2.0 has investors and market participants alike speculating whether Ether is preparing for a moonshot. After the most recent correction that saw prices plummet to $191, many have claimed that the smart contracts giant hit market bottom. Santiment, a behavior analytics platform, noticed that some Reddit users are becoming overwhelmingly bullish, and FOMO seems to be building up. The firm was able to collect some of the most popular comments on the social network, which include: “Y’all got anymore of that $200 ETH? My funds…

Ahead of Ethereum 2.0 Launch, 3 Key Metrics Point to ETH Price Surge

The Ethereum developer community is nearing the launch of Ethereum 2.0, a major multiyear milestone for the blockchain network. Ethereum 2.0 will mark the start of a shift from the miner-reliant proof-of-work consensus algorithm to a proof-of-stake algorithm. In a PoS system, miners are not needed to mine blocks and verify transactions. Instead, users — or stakers — verify data on the blockchain. For now, there is no specific date at hand for the release of Ethereum 2.0, according to its testnet coordinator, Afri Schoedon. “The final spec is not…

Ethereum Near Crucial Juncture And Key Risks Warn Against Chasing ETH Higher

Ethereum is currently consolidating above the $210 level against the US Dollar. ETH price is still struggling to clear the $215 and $216 resistance levels. Ethereum is facing an uphill task near the $215 and $216 resistance levels. A strong support is forming above $208 and the 100 hourly simple moving average. There is a key breakout pattern forming with resistance near $215 on the hourly chart of ETH/USD (data feed via Kraken). The pair likely approaching a major break and it could either rally above $216 or decline sharply…