Just HODL! Bitcoin and Ethereum outperform ‘lower risk’ crypto index funds

In the past two decades, index and exchange-traded funds (ETF) have become some of the most popular forms of investing because they offer investors a passive way to gain exposure to a basket of stocks as opposed to investing in individual stocks which increases risk of loss.  Since 2018, this trend has extended to the crypto sector and products like the Bitwise 10 Large Cap Crypto Index (BITX) tracks the total return of Bitcoin (BTC), Ether (ETH), Cardano (ADA), Bitcoin Cash (BCH), Litecoin (LTC), Solana (SOL), Chainlink (LINK), Polygon (MATIC),…

Rangers Protocol launches Ethereum Virtual Machine-compatible testnet

The Rangers Protocol has opened its testnet to users aiming to provide an Ethereum Virtual Machine-compatible solution that supports cross-chain contract interoperability. In a Friday announcement, the Rangers Protocol said it had successfully migrated its first Dapp to the testnet which went live on July 19. The project migrated an Ethereum-based lending protocol, BlueStone, to the testnet, a move the protocol described as “smooth and developer-friendly” given Rangers’ Ethereum Virtual Machine, or EVM, compatibility. Though there are seemingly alternative solutions utilizing blockchain technology friendly to Solidity developers, Rangers Protocol is…

Ethereum Community Backs Ethiopia Ahead of Olympics

Key Takeaways Ethereum fans are showing their support for Ethiopia after Twitter added the country’s flag to the “ETH” hashtag in celebration of the Olympics. A DAO called EthiopiaDAO has formed, while some community members have suggested sponsoring the country’s Olympic team. The Olympics thanked Twitter founder Jack Dorsey and the wider crypto community for their support. Share this article Ethereans are voicing their support for Ethiopia.  Ethereum Forms Ties with Ethiopia  Ethereum fans are backing Ethiopia ahead of the Tokyo Olympics.  Members of the second-ranked blockchain’s community began showing…

‘Ethereum Improvement Proposal 3675’ for the Eth2 merge launches on Github

A formal Ethereum Improvement Proposal has been created for the network’s forthcoming chain merge, bringing Ethereum one step closer to realizing its highly anticipated Proof-of-Stake (PoS) transition. On July 22, ConsenSys researcher Mikhail Kalinin created a pull-request for EIP-3675 on Github, formalizing the chain merge as an improvement proposal for the first time. The EIP has also been slated for discussion during the July 23 Ethereum Core Devs Meeting by developer Tim Beiko. Hard to overstate how valuable’s @mkalinin2‘s work on The Merge has been, and it’s finally being formalized…

16% Ethereum price rebound activates a classic bullish pattern — $2.5K next?

Ethereum’s native crypto Ether (ETH) rebounded sharply on Thursday after Elon Musk disclosed for the first time that his private rocket firm SpaceX holds Bitcoin (BTC), and Tesla would probably resuming the bitcoin payment option for its electric cars. The BTC/USD exchange rate was below $30,000 but bounced by more than 5% after the big reveal, touching an intraday high of $32,895. Ether, which tends to move in lockstep with the flagship cryptocurrency, surged likewise. Ether was holding onto its previous session’s gains on Thursday. Source: TradingView.com It reclaimed $2,000…

Bitcoin, Ethereum Rise as Elon Musk Reveals Allocations

Key Takeaways Elon Musk has reiterated that he plans for Tesla to accept Bitcoin as a form of payment once it becomes more sustainable and confirmed he owns Ethereum. Bitcoin has risen over 3,000 points in reaction to Musk’s remarks. Ethereum also looks primed for a new uptrend toward $2,300. Share this article The top two cryptocurrencies by market capitalization, Bitcoin and Ethereum, have enjoyed significant gains over the past 48 hours. The assets rose after Elon Musk revealed allocations in  Bitcoin Rebounds Strongly Bitcoin and Ethereum are back in…

Decoupling ahead? Bitcoin and Ethereum may finally snap their 36-month correlation

Anish Saxena, a New Delhi-based automobile dealer, made “incredible” profits by investing in cryptocurrencies in 2020, just as his business took a hit from the coronavirus pandemic-induced lockdown. “I had known about Bitcoin and Ethereum and dozens of other assets for years,” the 33-year old businessman said. “But I only got to invest in them after the lockdown pushed me and my family members out of work. And it helped us survive big time.” Anish revealed that he had allocated about 80% of his investment portfolio to Bitcoin (BTC) and…

Ethereum Recovers Sharply, Why ETH Could Continue Higher above $2K

Ethereum started an upside correction above the $1,850 resistance against the US Dollar. ETH price is likely to continue higher if there is a close above the $2,000 resistance. Ethereum started a decent upward move above the $1,850 and $1,950 resistance levels. The price is now trading well above $1,900 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $1,960 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to rise further if there is a…

Ethereum must innovate beyond just DApps for DeFi degens: Vitalik Buterin

During his keynote at the EthCC conference in Paris, Ethereum co-founder and lead developer Vitalik Buterin implored the Ethereum community to innovate beyond the confines of decentralized finance. Describing non-financial utilities as “the most interesting part of the vision of general-purpose blockchains,” Buterin lamented that financial applications currently “dominate the Ethereum space.” “Being defined by DeFi is better than being defined by nothing. But it needs to go further.” Buterin outlines several non-financial applications for Ethereum, including decentralized social media, identity verification and attestation, and retroactive public goods funding. “Moving…

Ethereum “Has to Expand” Beyond DeFi: Vitalik Buterin

Key Takeaways Vitalik Buterin said that Ethereum “has to expand” beyond DeFi at EthCC. He discussed Ethereum’s potential as a base layer for decentralized social media, pointing out that Ethereum addresses could help users claim ownership of their identity. He also warned about that complex yield farming and token-related activities could lead to financial instability and attract the attention of regulators as the possibilities of DeFi evolve. Share this article Ethereum’s creator Vitalik Buterin wants to see the network find use cases beyond DeFi.  Buterin Discusses Social Media on Ethereum …