Here’s Why Ethereum Rival Avalanche May Be a Bull in Making

Avalanche started trading on Binance with a bang. The latest Ethereum rival saw its native token, AVAX, rising by more than 1300 percent in its first hour of trading on September 22. A jump from $0.85 to $12.54 was enough for attracting profit-takers. Thereby, a strong sell-off ensured, and the price crashed. But despite the bearish correction, AVAX/USD up by 450 percent from its exchange rate open. The pair is consolidating sideways, showing a minimal inclination to extend its move lower. On the other hand, it appears that the token…

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…

DeFi Overtakes Ethereum In The Media, Data Shows

Ethereum is the primary cryptocurrency benefiting from the DeFi trend. And while a rising tide lifts all boats, the demand for the top-ranked altcoin is second-to-none. And while Ethereum is dominating the crypto market right now, its DeFi that is dominating the headlines in the media, not the altcoin that makes it all possible. DeFi Dominates Ethereum Mentions In The Media Decentralized finance is on the tips of everyone’s tounges these days. It is hard not to notice even for passerby the enormous profits being generated out of what seems…

Ethereum Key Indicators Suggest A Strengthening Case For Correction Below $300

Ethereum is down 5% and it broke $330 and $320 support levels against the US Dollar. ETH price remains at a risk of more losses below $300 as long as it is below $340. Ethereum extended its decline below the $330 and $320 support levels. The price traded as low as $313 and it settled well below the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $330 on the hourly chart of ETH/USD (data feed via Kraken). The pair could decline further…

DeFi projects rush towards Layer 2 as Ethereum clogs up

Decentralized finance (DeFi) protocols are racing to implement Layer 2 scaling solutions as Ethereum gas fees skyrocket and the network struggles under the demand. Popular DeFi platforms including Uniswap, Aave, and Synthetix are gettin closer to rolling out the scaling solutions. Synthetix, an on-chain synthetic assets protocol that tracks the value of real-world assets, is upgrading September 24 to a primitive version of L2 scaling. According to a blog post by founder Kain Warwick the ‘Fomalhaut’ upgrade is the first phase of L2 migration to Optimistic Ethereum. It’s an incentivized…

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. …

This XRP Fractal Predicts Ethereum Could Soon Swing Back Above $400

Following legacy markets, Ethereum and XRP have undergone strong corrections over the past week. According to an analyst, though, the price of ETH could soon undergo a bullish recovery above $400. This comes as analysts have affirmed that ETH’s fundamentals are more bullish than ever. These fundamentals include persistent development in decentralized finance and development in scaling solutions like ETH2. Related Reading: MicroStrategy’s Stock Continues to Soar After Bitcoin Purchase This XRP Fractal Suggests It’s Time for an Ethereum Recovery Ethereum is primed to move back above $400 in the near…

Permissionless Bitcoin Is Back on Ethereum After Early Disaster

Share this article Permissionless Bitcoin product, tBTC, is re-launching on Ethereum mainnet, but this time with adequate safety measures. The smart contracts have been audited extensively, and the protocol will limit the supply of tBTC, gradually lifting the cap with time. tBTC Adds More Bitcoin to Ethereum Keep Network was forced to pull the plug on their Bitcoin-Ethereum bridge, tBTC, just two days into the network’s mainnet launch. Four months later, tBTC is live on mainnet after audits by Trail of Bits. The team behind the project has opted for a…

Ethereum Price Action Suggest More Downsides Below $330: Here’s Why

Ethereum is struggling to recover above the $345 and $350 resistance levels against the US Dollar. ETH price is likely to continue lower below $330 unless it recovers above $355. Ethereum corrected a few points higher, but it failed to climb above the $350 level. The price is declining below $345 and it is well below the 100 hourly simple moving average. There was a break below a key contracting triangle with support near $340 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to…

Uniswap UNI Token FOMO Brings Ethereum Fees To Nearly $1M An Hour

Last week, Uniswap launched its UNI token and set the crypto market ablaze with renewed interest in the DeFi project. The 400 free tokens essentially acted as a stimulus check, and as investors rushed to cash their “checks,” it brought Ethereum fees sky-high to a record nearly $1 million in a single hour. What does this mean for Ethereum, and what does it say about the demand for Uniswap’s new DeFi coin? UNI FOMO Drives ETH Gas Fees To Record One-Hour Highs The DeFi trend has brought about flashbacks of…