Category Archives: Ethereum
Ethereum spot ETFs Why the SECs expected rejection isnt all bad news – AMBCrypto News
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Ethereum spot ETFs Why the SECs expected rejection isnt all bad news - AMBCrypto News
Here’s How Much a $1,000 Crypto Investment in Ethereum at Its Launch Would Be Worth Now – Yahoo Finance
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I invest a little play money in cryptocurrencies. And 2024 has beena greatyear for them.
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In fact, I occasionally share the story about how I tried to invest in Bitcoin when it was worth under $1,000 a coin, but I couldnt get the transfer to the cryptocurrency exchange. Eventually, I gave up and lived to regret it in theyears to come.
Along those lines, how would you have fared if youd gotten in on Ethereum in its early days? How much would you have today if youd invested $1,000 at the launch of the second-most popular cryptocurrency?
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In July 2014, Ethereum held an initial coin offering (ICO), raising money for the project through Bitcoin. It worked like a crowdfunding project, where investors bought in (paying with Bitcoin) for early access.
A year later, the actual Ether blockchain coins (ETH) started trading live at$0.31 per coin.
As of mid-April 2024, ETH trades at $3,157 per coin. That marks a roughly 10,000% increase in value.
If you had invested $1,000 at $0.31 per coin, youd have owned 3,225.81 ETH coins. At todays pricing, that would be worth $10,183,871.
Todays pricing doesnt even represent Ethers peak. On November 9, 2021, ETH reached a dizzying $4,815. If you had cashed out your ETH coins at its zenith, youd have walked away with a cool $15,532,258.
Because cryptocurrencies exist in ones and zeroes, rather than, say,physical gold and all the supply limitations attached to it, crypto creators must build in sometype ofscarcity.
For Bitcoin, that means halving the coins paid to miners for each block on a schedule of every 210,000 blocks.In fact,the next halving will likely have happened by the time this article publishes in mid-April.
Like Bitcoin, Ether must add scarcity and limit production over time. But unlike Bitcoin, it does so with far more complexity.It does so through a triple halving processincluding:fee burning, staking, and token issuance rate reduction.Read up on theEther triple halving processfor all the nerdy details.
That happens continuously, unlike the much-hyped halving events for Bitcoin. It produces the same resultthough: slowing new supply entering themarket,to drive up values.
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I opened by claiming that I invest a little money in cryptocurrencies. The simple truth, however, is that I consider it speculating, not investing.
Whats the difference?
Investments have intrinsic value. That value could come from its use, such as a home.Orit could come from revenue,in the caseofa business or an apartment building.You can measure the investments value based on that revenue,orbased oncomparable assets in the same market.
Cryptocurrencies dont produce revenue and have no tangible use. Theyre only worth wherever someone else is willing to pay for them, similar to collectibles like baseball cards or, dare I say it, non-fungible tokens (NFTs). To me, that makes them speculative.
Is there an inherent value in a decentralized currency? I imagine so but I have no idea what it mightbe,because theres nothing concrete to measure.
By all means, play around with money you can afford to lose in speculative assets like cryptocurrencies.Just dontbet the farm on something that produces no revenue or measurable value.
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This article originally appeared on GOBankingRates.com: Heres How Much a $1,000 Crypto Investment in Ethereum at Its Launch Would Be Worth Now
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3 Must-Know Facts About Ethereum, Before You Buy the Cryptocurrency – Yahoo Finance
With a current market cap (as of the afternoon of April 17) of $360 billion, Ethereum (CRYPTO: ETH) is the world's second most valuable cryptocurrency. It's behind only Bitcoin when it comes to market domination.
Just in the past five years, Ethereum's native token has skyrocketed nearly 1,700% in value. That would have turned an initial $1,000 investment into a jaw-dropping $18,000 balance today.
Ethereum has also been on a fantastic run since the start of 2023, benefiting from the broader crypto market's rally. But this digital asset remains 36% off its high. Before you rush to buy the dip, here are three things you should know about Ethereum.
Ethereum's key characteristic is that it allows for the functionality of smart contracts. These are computer programs that automatically execute once separate parties in a transaction satisfy their ends of the agreement. Think about an escrow account immediately releasing funds as soon as a home buyer meets certain conditions. In theory, Ethereum could handle this without human intervention, which could lower costs.
This feature is what makes this cryptocurrency much more useful when compared to Bitcoin, according to what Ethereum bulls believe. In fact, Ethereum has a sprawling ecosystem of decentralized applications (dApps), ranging from gaming and finance protocols to non-fungible tokens and the metaverse. Smart contracts enable these types of use cases, which could disrupt traditional industry structures.
Given this background knowledge, it's not surprising that Ethereum is often dubbed the "world's decentralized computer."
Like Bitcoin long has, Ethereum used to operate a proof-of-work consensus mechanism. This is an energy-intensive way to process transactions and secure the blockchain. Estimates point to how Bitcoin's network uses the same amount of energy as a small country.
Believing that this was harmful to the environment and not on a sustainable path, Ethereum's developers successfully transitioned the network to a proof-of-stake (PoS) system in September 2022. After the so-called Merge, in this setup, token owners who lock up their holdings have the right to validate transactions. According to Ethereum's website, the PoS consensus mechanism reduces energy usage by over 99%.
The other hope for the PoS transition is that it'll make Ethereum a much faster and cheaper network. It can only handle 14 transactions per second. And when demand is high, fees can soar. In order for Ethereum to one day usher in multiple new use cases, as many hope it can, the throughput needs to increase. There are other planned upgrades in the pipeline to one day make this a reality.
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Besides the Merge, Ethereum's developers have four main updates planned in the future. Each one focuses on a specific area of improvement. The end goal is to have a fully functioning Ethereum network that is good for the environment, fast, cheap, and able to have a vast dApp ecosystem operating on top of it.
Of all the cryptocurrencies in the world, Ethereum has the most developers working on it by far. This bodes well for its future because it means there are smart people focused on solving complex problems to keep progress going. I always say that I believe the ultimate success of a cryptocurrency depends on its ability to bring about real-world utility. Ethereum is trying to do this.
The issue, though, is that no matter how smart the upgrade pipeline looks on paper, it introduces immense technical risk. We can't forget that blockchain technology is still in the early innings. There is a lot that needs to be learned. Constantly tweaking and messing with the software means there will always be the possibility that something will break along the way.
If you are bullish on Ethereum, understanding these three key areas should help give you a better understanding before you put your money to work.
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3 Must-Know Facts About Ethereum, Before You Buy the Cryptocurrency was originally published by The Motley Fool
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3 Must-Know Facts About Ethereum, Before You Buy the Cryptocurrency - Yahoo Finance
Bitcoin, Ethereum and XRP Price Prediction: Can we See Post-Halving Rally This Week? – Coinpedia Fintech News
With the successful Bitcoin Halving this Friday, the blockchain completes 840,000 blocks. Further, the halving reduces the mining reward to 3.125 Bitcoin per block. As the event is known for creating bull markets, the fourth halving comes at a rather wrong turn in global markets.
As the U.S. markets stand at a vulnerable stage and the Iran-Israel conflict creates ripples of fear, the crypto market struggles for a bull run. However, considering the buyers gain confidence post-halving, the crypto market might witness a strong jump next week.
So, with the crypto market at a pivotal stage and growing anticipations, will bulls make a comeback next week? How is this going to affect top coins like Bitcoin, Ethereum and XRP?
Lets find out more in our BTC, ETH, and XRP price analysis.
Following the Bitcoin-halving, the BTC price showed a modest uptick of 0.36% on Saturday to currently trade at $64162. While the demand pressure at $60000 psychological level is still intact, the daily indicates the continuation of sideways action.
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For over two months, the BTC price has been trading sideways resonating between the two horizontal levels of $73850 and $60000. The consolidation came after a notable rally from late January to Mid-March, which revealed the formation of a bullish flag pattern.
In theory, this pattern provides buyers a break period to recuperate their exhausted bullish momentum. Amid the Bitcoins resilience to geopolitical tension in the middle, the buyers uplifted the coin from 7% from the $60000 support.
Amid the post-halving rally, the BTC price could breach the patterns overhead trendline as a signal of uptrend continuation. If the pattern holds true, the buyers may lead a rally to $85000 followed by $95000.
Ethereum, the second-largest cryptocurrency by market cap, has been under a steady correction since mid-March. The formation of a new lower high and low indicates the near-term sentiment has shifted bearish as the traders are selling on bullish bounce. From the top of $4090, the ETH price plunged 25% to hit a low of $3050.
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Amid the current market consolidation, the ETH price is trading at $3051, projecting an intraday loss of 0.21%. If the supply pressure persists, the ETH price is poised for another 8% drop before hitting an emerging support trendline intact since October 2023.
The ETH price shows a history of bullish reversal from this dynamic support. Thus, it indicates the buyers continue to accumulate this asset at market dips.
Thus, a potential rebound will accelerate the buying pressure and bolster Ethereum buyers to chase a potential target of $3730, followed by $4090.
XRP, the native cryptocurrency on the Ripple network, has been an underperforming asset so far in 2024. Amid the recent market sell-off on April 13, attributed to Irans attack on Israel, the XRP price witnessed a major outflow and plunged below Jan 2024 low of $0.485.
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Amid the recent downturn, the XRP price plunged below a 16-month-long support trendline. The Ripple coin currently trades at $0.514, struggling to follow this breakdown as broader market sentiment is bullish with recent Bitcoin Halving.
If the renewed recovery at $0.5 pushed the XRP price above the breached trendline again, the sellers will lose their grip over this asset.
The failed breakdown may favour buyers and bolster XRP price to regain value above $0.56 and aim for $1.
Following the Bitcoin halving, the cryptocurrency market offers local bottoms for the majority of top coins. With Bitcoin bouncing back from $60000, Ethereum and XRP are likely to witness demand pressure from below. This indicates a renewed recovery sentiment among market participants.
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$45 Million Worth Of Ethereum Transfer to Okex Goreville Gazette – Goreville Gazette
April 21, 2024April 21, 2024
In a digital age where cryptocurrency transactions are becoming more frequent, a recent transfer of 14,408 Ethereum (ETH), valued at approximately $45.7 million, to the cryptocurrency exchange OKEx has stirred the market and speculations alike. This long-form article delves into the details of this significant transaction, its potential impact on the cryptocurrency market, and what it signifies for traders and investors alike.
Ethereum, often heralded as the queen of cryptocurrencies, holds a pivotal role in the blockchain ecosystem. Unlike Bitcoin, which is primarily a digital currency, Ethereum introduces the concept of smart contracts, which automate transactions and applications without any possibility of downtime, fraud, or interference from a third party.
Ethereums smart contract capability has given birth to the Decentralized Finance (DeFi) sector, which is reshaping the financial landscape by eliminating intermediaries in financial transactions. This move towards DeFi has increased the utility and, subsequently, the value of Ethereum.
The ongoing development of Ethereum 2.0, which aims to improve the networks scalability and security through a transition from proof of work (PoW) to proof of stake (PoS), suggests a bullish future for Ethereums market performance and its foundational technology.
The transfer of 14,408 ETH to OKEx is not just a large financial move but also a strategic one. OKEx, being one of the leading cryptocurrency exchanges globally, plays a critical role in the liquidity and price stability of Ethereum.
When large sums of Ethereum are transferred to an exchange like OKEx, it typically indicates a potential sale or increased trading activity. This can lead to fluctuations in Ethereums price due to changes in supply and demand dynamics.
Following the transaction, the cryptocurrency community has been buzzing with speculations about the potential impact on Ethereums price and market stability.
Typically, such large transactions can lead to a temporary dip in price as the market anticipates a large sell-off. Monitoring the price of Ethereum following such transactions can offer insights into the sentiment and potential strategies of big players in the market.
If the transferred ETH is used for investment in DeFi projects, it could signify a strong vote of confidence in the Ethereum network, potentially leading to a positive long-term impact on its value.
Investors and traders need to consider the implications of such transactions on their strategies.
Understanding the context and the potential aftermath of large transactions is crucial for effective risk management in cryptocurrency investments.
Traders might see volatility as an opportunity. By analyzing the market trends and reactions to such transactions, traders can position themselves advantageously.
This significant transfer of Ethereum to OKEx highlights the fluid nature of the cryptocurrency markets and the substantial impact that large transactions can have on the market dynamics. It serves as a reminder of the volatility and the continuous evolution of the cryptocurrency space, urging investors and traders to stay informed and agile in their strategies.
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$45 Million Worth Of Ethereum Transfer to Okex Goreville Gazette - Goreville Gazette
Halving 2024: How Bitcoin (BTC), Ethereum (ETH), and Furrever Token (FURR)’s are Poised to Transform in the New … – Yahoo Finance
Furrever Token
New York, NY, April 15, 2024 (GLOBE NEWSWIRE) -- As the cryptocurrency community approaches the 2024 Bitcoin(BTC) halving, excitement builds not just for the potential effects on Bitcoin's price, but also for the broader implications for the market, including Ethereum(ETH) and emerging assets like Furrever Token(FURR). This particular halving event, set for April 2024, coincides with significant market developments, notably the rise of Bitcoin Exchange-Traded Funds (ETFs), which could reshape investment strategies and market liquidity. Bitcoin's upcoming halving will reduce the reward for mining transactions by half, potentially constricting supply and influencing prices in a market that has already seen Bitcoin, Ethereum, and others like Furrever Token, make substantial gains. The interplay between these factors and the new dynamic introduced by ETFs could lead to unprecedented outcomes in the crypto space.
Bitcoin (BTC) Halving: A New Chapter in Crypto With the Rise of ETFs
The Bitcoin (BTC) community is poised on the brink of the 2024 Bitcoin halving, an event that could catalyze the cryptocurrency landscape. Scheduled for April 2024, this halving is not just another cycle in Bitcoin's existence but may mark a significant turning point for broader crypto adoption. Unlike previous halvings, the upcoming event coincides with the emergence of Bitcoin Exchange-Traded Funds (ETFs), introducing a dynamic that could reshape market reactions post-halving.
Bitcoin's supply is finite, capped at 21 million coins. Every four years, the Bitcoin network undergoes a 'halving' where the block rewards given to miners are reduced by half. This mechanism decreases the rate at which new bitcoins are created, aiming to prevent inflation and preserve scarcity. Historically, each halving event has led to considerable bullish trends in Bitcoins price. For example, after the 2012 halving, Bitcoins price escalated from around $12 to over $1,000 within a year. Similar patterns followed the 2016 and 2020 halvings, with prices peaking at around $20,000 and over $60,000, respectively.
While past performance due to halving is notable, it's crucial to recognize that these price surges also aligned with significant global economic events, such as the European debt crisis, the ICO boom, and the COVID-19 pandemic. These events underscore the influence of broader economic contexts on Bitcoins market behavior, indicating that halving impacts are intertwined with global economic health and investor sentiment.
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The 2024 halving introduces a novel factor that could significantly influence Bitcoin's market dynamicsthe approval and operation of spot Bitcoin ETFs in the United States. These financial products allow a wider range of investors to engage with Bitcoin without the complexities of direct cryptocurrency handling, potentially enhancing mainstream adoption. The first quarter following the introduction of these ETFs saw about $12.1 billion in total inflows, suggesting a strong demand for Bitcoin through this new investment avenue.
The presence of Bitcoin ETFs could potentially absorb some of the post-halving sell pressure typically expected from miners reducing their holdings due to lower block rewards. By offering a new route for capital inflow into the Bitcoin market, ETFs provide a buffer against the volatility usually associated with reduced miner income.
As the 2024 halving approaches, the interplay between reduced miner rewards and the influx of funds via ETFs could mirror yet another halving effect, softening potential price drops and supporting gradual price increases. This synergy between ETF adoption and evolving market structures lays a robust foundation for Bitcoin's sustained rise, potentially influencing the entire cryptocurrency ecosystem.
As the cryptocurrency market matures, the 2024 Bitcoin halving emerges as a pivotal event, augmented by the integration of ETFs into the market structure. For investors and market participants, understanding these shifts is crucial. Staying informed and adaptable will be key in navigating the intricacies of this halving event, enabling stakeholders to capitalize on emerging opportunities and mitigate potential challenges. In this evolving narrative, Bitcoin not only retains its status as the leading cryptocurrency but also demonstrates its resilience and adaptability in an ever-changing financial landscape.
Ethereum (ETH) Dips Below the $3,200 Mark as Whales and Institutions Offload Holdings
Ethereum (ETH), the second-largest cryptocurrency by market capitalization, is currently experiencing significant selling pressure, exacerbated by large-scale dispositions from whales and key institutional players. As the broader cryptocurrency market faces a downturn, with over $900 million in liquidations recorded in the last 24 hours, Ethereum has not been spared, seeing its price struggle to maintain support levels.
Recently, Ethereum's price momentarily dipped below the $3,200 mark to reach $3,161 before recovering slightly to hover around the $3,280 level, marking a 5.62% decrease within a single day. This volatility has been partly attributed to substantial sales by major Ethereum holders. According to data from Lookonchain, four significant entities offloaded a total of 31,683 ETH, worth approximately $106 million, contributing to the downward pressure on prices.
The transactions involved well-known entities in the crypto space:
- Cumberland deposited 17,206 ETH onto exchanges, valued at around $57.3 million.
- Wallet address 0xC3f8 moved 7,976 ETH to Binance, totaling about $26.6 million.
- Wallet 0x1717 transferred 4,000 ETH, worth approximately $13.32 million, to various trading platforms.
- Alameda/FTX was reported to have moved 2,500 ETH to Binance, which amounts to roughly $8.33 million.
These moves reflect a broader trend of large-scale Ethereum sales, which can significantly impact the market due to the substantial volumes involved.
The continuous flow of ETH to exchanges suggests that the selling pressure may not abate soon. Another report from Whale Alert highlighted an additional transfer of $158 million worth of Ethereum to Binance by an unknown wallet, indicating the potential for further sell-offs in the open market.
Aside from market actions, Ethereum is grappling with several ecosystem challenges that may be influencing investor sentiment negatively. Recent developments have cast doubt on the prospects for an Ethereum ETF, as regulatory and market hurdles continue to loom large. This uncertainty, combined with the active shedding of assets by major stakeholders like Alameda/FTX, suggests a tough road ahead for Ethereum.
As Ethereum navigates through these turbulent market conditions, the community and potential investors are closely monitoring these developments. The influx of large volumes of ETH onto exchanges and the accompanying sell-off activities by prominent institutional players are crucial factors that market participants will need to consider. These dynamics are pivotal in shaping Ethereum's short-term price movements and broader market standing amidst an already volatile financial landscape.
Furrever Token (FURR) Priced at $0.00048 as Presale Exceeds $780,000
Furrever Token (FURR) is swiftly making its mark as a distinguished investment in the vibrant cryptocurrency market, drawing significant interest for its robust growth potential and appealing investor opportunities. Demonstrating outstanding success through its presale events, FURR has consistently attracted substantial investments. Presently in its sixth presale phase, the token has successfully raised over $780,000, illustrating its escalating popularity and the strong endorsement it enjoys from the cryptocurrency community.
FURR positions itself as an exceptionally attractive investment by offering the potential for investors to achieve up to 15X returns from each presale stage. Currently priced at $0.00048, the token presents an opportune entry point for investors looking to leverage its projected growth.
The token's appeal is further reinforced by the robust community support it commands. With more than 4,300 active participants on its official Telegram channel, FURR is at the center of dynamic discussions, collaborative initiatives, and regular updates, all of which enrich the investment experience for its community members.
Looking to the future, FURR's strategic roadmap and development plans signal a strong commitment to carving out a significant presence in the meme coin market. The team behind FURR is focused on rolling out innovative features, forging strategic partnerships, and launching targeted marketing efforts, all aimed at boosting the token's adoption and enhancing its market value.
Overall, Furrever Token stands as a highly compelling investment proposition, supported by solid fundamentals, an active and enthusiastic community, and a promising outlook for expansive growth. As FURR advances toward achieving its strategic goals, it is well-equipped to provide significant returns to early investors who tap into its potential.
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Disclaimer:The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities.
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Ethereum Poised to Retest $3.5K as Bullish Sign Reappear (ETH Price Analysis) – CryptoPotato
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Ethereum Poised to Retest $3.5K as Bullish Sign Reappear (ETH Price Analysis) - CryptoPotato
It Can Be Said With Confidence the SEC Is Investigating Ethereum: Consensys Bill Hughes Talks Crypto Law – CoinDesk
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