Ethereum Recovers Sharply, But ETH Must Clear This Level For A Sustained Rally

Ethereum is up 7% and it broke the $340 resistance zone against the US Dollar. ETH price is now facing a major hurdle near $350 and $355, above which it could rally significantly. Ethereum started a steady recovery wave from the $313 swing low. The price broke the $340 resistance level and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $328 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to continue higher if…

Biggest Expiry of Ethereum Options Looks to Amp Up ETH Volatility

Key Takeaways Ethereum options contract worth $415 million will expire on Deribit on Sept. 25. A large volume of open interest increases the expectations of price volatility. At current prices, most options traders are expected to lose money. Share this article Options expiring this Friday represent $412 million in open interest, the largest expiry of Ethereum options to date. Expect higher price volatility for ETH. Ethereum Options Traders Anxious Before Expiry Deribit is the leading portal for options contracts on Bitcoin and Ethereum with 75% and 92% market share, respectively. …

ETH price loses ground, but network metrics say DeFi season not over yet

Ether has dropped around 30% from its 2020 high of $482 on Sept. 1 to $340 in five days. The drop in the price of Ether (ETH) and Bitcoin (BTC) was largely due to the rising dollar, which has stopped Bitcoin’s bull run in its tracks. Ether is still sitting at around $340, failing to recover its price ranges of August. As the price of Ether dropped significantly from the start of the month, several fundamental factors on the Ethereum network itself have changed. These include the movements and positions…

Uniswap payday, ETH transactions hit record high & EU backs stablecoins

Coming every Sunday, Hodler’s Digest tracks every important crypto news story from the previous week. Essential reading for all Hodlers!   Top Stories This Week   Frenzy as Uniswap launches new governance token Uniswap stole the show this week when it announced it was launching UNI, its very own governance token. A total of 1 billion tokens will exist, and anyone who has ever used the platform can claim 400 of them. Thousands came forward to accept their reward, and at one point, the airdrop was worth a cool $3,356.…

ETH 2.0 Won’t Fix Ethereum’s Scalability Problems, Analyst Argues

Key Takeaways Unique addresses for DeFi are growing exponentially, crossing the 450,000 mark since the beginning of this year. Ethereum needs to scale considerably to on-board the existing crypto user base of 50 million to DeFi platforms. ETH 2.0 along with the layer-2 implementations might not be able to keep up with the growth in network usage from DeFi. Share this article The average transaction fee on Ethereum costs $7.5, three times that of Bitcoin. Setting up a wallet on MakerDAO costs over $40, while the fees to lend on…

Ethereum Lacking Momentum, But Here’s Why ETH Could Surge Past $400

Ethereum extended its rise above the $390 zone and traded close to $400 against the US Dollar. ETH price is currently correcting lower and it is likely to find support near $380. Ethereum is trading in a positive zone and it recently broke the $390 resistance. The price traded as high as $395 and settled well above the 100 hourly simple moving average. There is a major bullish trend line forming with support near $378 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to…