Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

As Ethereum (ETH) and Ripple (XRP) navigate through their respective challenges, Raffle Coin (RAFF) is capturing investor interest with its innovative approach to decentralized raffles. Amid security concerns for Ethereum and legal battles for Ripple, Raffle Coin presents a fresh investment avenue.

While Ethereum and Ripple holders sit on the edge of their seats, waiting for their moonship moments, they are now noticing the latest project in space: Raffle Coin (RAFF). This new project is a unique, decentralized way of organizing raffles.

Ethereum has to deal with the latest cases where North Korean hackers have been found using coin-mixing services to clean the funds stolen. This has been succeeded by the misuse of Tornado Cash by the Lazarus Group, laundering around $12 million in Ethereum.

While continuous innovations and developments are going on, such incidents point all the more toward the necessity of further strengthening security within the Ethereum network.

Ripple, facing the wrath of the U.S. Securities and Exchange Commission (SEC), is hurting the market execution. However, constant courtroom victories have not allowed Ripple to fully unleash the market.

Optimism is still there in the Ripple community, thinking that this lost battle might bring in regulatory changes and that Ripple will come up with a Ripple exchange-traded fund (ETF) to fuel the bulls. Despite market struggles, Ripple remains resilient, with recent price movements suggesting potential for upward momentum.

While established cryptos and decentralized applications face huge challenges, Raffle Coin expects to bring a fresh approach to decentralized raffles.

Raffle Coin aims to offer early adopters rewards and opportunities to win prizes. They can also enter the market at the token price of $0.016. Raffle Coin holders can claim rewards for loyalty and VIP and are added to the platforms reward system based on token staking.

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Raffle Coin is a project that aims to offer users yet another layer of diversification in their journey through the rapidly shifting cryptocurrency landscape.

Up-and-coming projects like Raffle Coin are continuing to drive excitement and investment in the crypto market despite what hurdles and challenges the well-established cryptocurrencies, such as Ethereum or Ripple, may face.

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Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

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Ethereum, Ripple face challenges, Raffle Coin attracts investors - crypto.news

Ether (ETH) rallied to a new year-to-date high of $3,822 on March 5 after rallying 8% over the last 24 hours. The second largest cryptocurrency by market capitalization is up 15% over the last seven days and 132% over the last 6 months.

Data from Cointelegraph Markets Pro and TradingView show Ethers price was hovering around $3,796, about 28% shy of its all-time high of $4,891 set on Nov. 26, 2021.

Accompanying ETHs rally is a 68% leap in daily trading volume, currently at $33.29 billion. With a market capitalization of $453 billion, Ether cements its position as the second most valuable cryptocurrency, according to CoinMarketCap.

Apart from the uptrend in the wider crypto market fueled by increased inflows into spot Bitcoin ETFs and the upcoming Bitcoin supply halving, other fundamental factors and on-chain metrics back Ethereums uptrend.

One factor supporting Ethers upside is reducing supply on exchanges. Data from on-chain market intelligence firm Glassnode shows ETH balance on exchanges reached a 20-month low of 13.14 million ETH, after dropping 7.7% over the last 90 days.

The total balance between inflows and outflows in and out of all known exchange wallets shows a steep decline since October 2023, when withdrawals from the trading platforms began to surge. This drop accompanies a 130% rise in Ethers price over the same time period.

Decreasing ETH balances on exchanges simply means investors could be withdrawing their tokens into self-custody wallets, indicating a lack of intention to sell in anticipation of a price increase in the future.

This is explained by a spike in accumulation by large holders over the last few weeks. More data from Glassnode shows that wallets holding $100,000 or more worth of ETH have been on the rise since the start of February.

The chart above shows that wallets holding $100,000 or more have increased from 94,620 on Jan. 1 to 141, 406 on March 4 This means that whales have not sold on the latest rally in ETH but have continued to accumulate, suggesting most want to position themselves for more gains.

Also contributing to the decreasing ETH tokens available for trade is the increasing amount of Ether staked on the Beacon Chain. According to data from Dune Analytics, over $31.58 million ETH, worth $119.8 billion at current rates, are now being staked on Ethereum's proof-of-stake layer protocol.

This means 26.3% of ETH supplies have been staked and unavailable in the market, with over 987,000 individual validators involved.

Related: Bitcoin price hits a new all-time high

Staking on Ethereum has been further facilitated by liquid staking solutions like Lido, Rocket Pool and EtherFi, which allows for the staking of amounts less than 32 ETH and enables the use of staked assets as collateral in DeFi.

According to data from BlockBeats, the total value locked on EtherFi has crossed the $2 billion mark, highlighting the growing popularity and adoption of Ethereum liquidity protocols.

Increased demand for leverage resulted in a surge in ETH futures open interest (OI), which sat around $11.98 billion, edging closer to the $13 billion peak witnessed on Nov. 9, 2021.

Data from Coinglass shows that Ether futures OI broke above $8 billion on Feb. 12, being pinned under this level for more than two years. From there, the OI has jumped nearly 50% in less than two weeks, suggesting increased demand for leveraged ETH positions.

Currently, Ethereums on-chain and derivatives markets reflect investors optimism and expectation for a a spot Ether ETF approval The upcoming Dencun upgrade could also be lending some bullish tailwinds to ETH price.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

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3 reasons why Ethereum (ETH) price could hit $4K in the short-term - Cointelegraph

Analysts at QCP Capital note that despite Bitcoins quick drop to $59,000, funding is back to sensible levels and the more likely scenario is the outperformance of the ETH/BTC pair.

In a volatile overnight session, Bitcoin (BTC) quickly set a new all-time high of $69,400 only to undergo a rapid decline, plummeting to $59,200 within a matter of a few hours. This steep downturn resulted in the liquidation of over $1 billion worth of leveraged long positions on Binance alone.

However, as noted by analysts at QCP Capital, the market quickly rebounded as the dip was aggressively bought up, with the $60,000 level demonstrating robust support. According to analysts, funding rates have returned to sensible levels, hovering around 30% annually on Binance. Therefore, analysts at QCP Capital anticipate Ethereum (ETH) to outperform Bitcoin, noting that the narrative surrounding a spot Ethereum exchange-traded fund (ETF) gains traction.

[] the likely scenario is the outperformance of ETHBTC as the ETH spot ETF narrative comes into play.

QCP Capital

Despite the leverage unwinding, term futures are still trading at a significant premium to spot prices, analysts emphasized, adding there has been a surge in client activity aimed at selling the spot-forward spread, particularly for contracts expiring between September and December this year, allowing investors to secure risk-free yields for the year.

As of press time, Ethereum remains significantly distant from its all-time high compared to Bitcoin, suggesting a potential for rapid value appreciation. While Bitcoin trails only 4.3% from its historical peak reached on Mar. 5, Ethereum lags behind its 2021 record by over 20%, according to CoinGecko data.

As the crypto landscape evolves, Wall Street behemoths are intensifying efforts to introduce more spot crypto ETFs, following the U.S. Securities and Exchange Commissions (SEC) approval of all applications for spot Bitcoin ETFs earlier in January. Reports indicate ongoing discussions between the SEC and Ethereum ETF applicants, with decisions on spot Ethereum ETFs delayed until May at the earliest. VanEcks filing, in particular, awaits a response by May 23, alongside applications from BlackRock, Franklin Templeton Grayscale, and Invesco Galaxy.

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Ethereum is set to outperform Bitcoin as the spot ETH ETF narrative comes into play, analysts say - crypto.news

For anyone looking to participate in the Ethereum ecosystem, creating an Ethereum-based wallet is often the first step. With a wallet, users can trade or hold Ether (ETH) and interact with decentralized applications (DApps) and smart contracts built on the Ethereum platform. Thus, the wallet facilitates financial and interactive experiences for the user within the Ethereum ecosystem.

This guide explains how to set up and create an ETH wallet on a centralized exchange (CEX) and a decentralized exchange (DEX) and how to set up a hardware wallet.

As the name suggests, CEX wallets are a product of centralized exchanges (CEXs) that allow users to hold and trade cryptocurrencies. Easily accessible and user-friendly, CEX wallets enable users to trade ETH and other cryptocurrencies using a safe interface, thanks to the integrated support for a wide range of blockchain networks.

Though CEXs offer convenience, it comes with the need to trust your funds with the exchange. Therefore, it is crucial to choose a reputable exchange with a strong track record of keeping users crypto assets safe.

Lets understand how to create a wallet on Binance with illustrations.

One can create an ETH wallet on the Binance website or its smartphone wallet by following the steps below:

Step 1: The user can sign up on Binance via their Google or Apple accounts. They can also choose to sign up with their phone number and email address.

Step 2: The user must agree to the Terms of Service and Privacy Policy by ticking the white box, after which they can click Confirm to create an account on Binance.

Step 3: Once signed up, the user is taken to their wallet dashboard, where they can engage in a range of functions such as trade, swap, peer-to-peer (P2P) transfer, buy cryptocurrencies and many more.

Step 4: Users can deposit ETH into their wallet by clicking on Deposit; however, the user will need to complete the Know Your Customer (KYC) requirements.

Step 5: Once the user meets the KYC requirements, they can deposit ETH into their wallet by selecting ETH from the menu.

When using a CEX wallet like Binance, users should enable two-factor authentication (2FA) to add an extra security layer to their ETH holdings. For additional security, they can set up a dedicated email for all their crypto transactions.

Decentralized wallets place complete control of crypto in the hands of users. There is no centralized system to keep custody of users login credentials. Users set up a recovery phrase when setting up their account for a decentralized wallet.

In the event that the recovery phase is lost, the funds stored in the wallet are lost forever. Since users dont need to trust a particular third-party entity to keep their login credentials, decentralized wallets are termed trustless systems.

Lets understand how to set up a decentralized ETH wallet, using the Coinbase wallet.

Coinbase operates one of the largest centralized exchanges. The Coinbase Wallet is a separate product that offers a decentralized wallet solution, giving users more control and responsibility over their funds and interactions with blockchain networks.

Step 1: Users need to visit the Coinbase website on their smartphone and click Sign Up. On a desktop, it can be installed as a browser extension.

Step 2: Select the account type and click Get Started.

Step 3: Users can now download the Coinbase wallet.

Step 4: The Google Chrome browser extension will assist users in understanding how this works. This will take users to the Chrome web store, where they can download the wallet by clicking Add extension in the pop-up.

Step 1: Users start by clicking on the Coinbase Wallet extension and clicking Create New Wallet.

Step 2: During the setup process, users will be asked to store a series of 12 words somewhere secure. They need to keep these words safe, as they are essential for restoring access to the wallet should they ever forget the password.

Step 3: Now, users need to create a strong password for their wallet, agree to the terms, and click Submit.

Step 4: Users are now all set to receive, store and send ETH.

Though decentralized networks provide better security compared to centralized networks by enabling users to hold their private keys, leakage of funds might occur if proper auditing hasnt been done. Cybercriminals are always on the prowl to take advantage of software vulnerabilities.

Considered the securest of the lot, hardware wallets store digital assets, including ETH, offline, thus taking them outside the reach of hackers.

Here is a step-by-step guide for creating a hardware wallet for ETH. However, do take into account that there are several hardware wallets and that the process might vary across these devices.

Users must power on the device and begin the initializing process, which involves setting up a PIN and writing down the recovery phrase, which acts as a backup if the wallet is lost or damaged.

Users now need to connect the device to an internet-enabled computer, navigate to the manufacturers website, and update the firmware.

Users need to install the necessary software on their computer or smartphone to enable interaction with the hardware wallet. Ledger wallets usually use Ledger Live, while for Trezor devices, one needs to use the Trezor Suite.

Users will have to create an Ethereum account within the wallet interface. Users will be using this account to send, receive and manage ETH. For easy identification, giving it a recognizable name is an ideal choice for most users.

While hardware wallets are known for providing the highest level of security among wallets, users need to be mindful of a few points. They need to get their wallets from reputable vendors, keep their wallets updated, retain the secrecy of their seed or recovery phrase, use a strong PIN, avoid public WiFi networks, and regularly audit wallet activity.

Anyone consistently active in the Web3 space will usually require a CEX, DEX and hardware wallet. All three options stand out for convenience, control and security. A set of Ethereum wallets serves as a tool for handling ETH and gives users a foothold in decentralized finance.

Recognizing risks such as market volatility and security flaws in both centralized and decentralized exchanges is necessary when navigating the Ethereum ecosystem. CEXs are convenient, but hackers can easily compromise them.

Despite their autonomy, DEXs are susceptible to smart contract vulnerabilities. The price volatility of ETH raises the risks even further. A balanced strategy combines centralized and decentralized services for improved security and accessibility, diversified portfolios and risk management. With a balanced approach and an understanding of these challenges, users may confidently navigate the Ethereum ecosystem.

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How to set up and create an Ethereum wallet - Cointelegraph

Ethereum (ETH) price has increased by 128% over the past 12 months and has gained 804,027% since opening for trading at $0.43 on Oct. 20, 2015. Despite this phenomenal growth, is there room for Ether price to rally 17x from its current trading price?

Brian Russ, the managing director of BMO Financial Group at the Colorado market, thinks it is a possibility.

On March 1, at ETHDenver, Russ spoke about how traditional finance analysts use various quantitative models to value a company, a blockchain and its token.

Selecting the Ethereum network as an example, Ross detailed how his methodology is comprised of the discounted cash flow, precedent transaction, market comparables and Metcalfes Law models.

Starting with the discounted cash flow (DCF) model, Russ explained that the model says that a company, or in this case, a blockchain, is worth the summation of all the profits it will generate forever.

The model projects forward what those profits might be and then applies a "discount rate to bring those profits back to 2024 chain dollars for a more accurate representation of what the project is worth today.

To determine what cash flows are and how quickly they are growing on the Ethereum network, Russ suggests looking at Ethereum wallet growth. Data from Etherscan shows wallets on Ethereum growing at 36% annually for the last 5 years.

Assuming a 33% annual wallet growth for 10 years, Russ estimates that 50% of the global population, or 4.5 billion users, could be using Ethereum by 2033. Russ concedes that half the worlds population using Ethereum in 10 years is a lofty assumption, but it remains a possibility.

To determine the type of profit that Ethereum generates, Russ looks at the amount of Ether issued and burned as a proxy for Ethereum revenues.

The result is $1.8 billion dollars in profit generated by the Ethereum network in 2023, and growing this figure by 33% per year for 10 years gives Russs $458 billion future value of the Ethereum blockchain.

After the 10th year, a more conservative 5% growth rate is used, and the Fed Funds rate or risk-free rate at 5% is applied to bring the cash flow figure back to 2024 dollars. The resulting $400 billion valuation reflects a 15% premium and suggests that Ethereum blockchain is undervalued by this amount today.

Similar to real estate, estimating the value of a company or property requires analyzing competitors revenue, cash flow and market capitalization. Comparing Ethereum against other early-stage tech companies that achieved dominant market share and analyzing each companies price to price-to-earnings ratio during their first profitable year, along with the average P/E ratio on a 5-year basis.

The result suggests that the Ethereum networks total value is $312 billion dollars, meaning according to the model that Ethereum is currently overvalued by 20%.

Comparing the Ethereum network to other layer-1 projects, Russ uses a formula that takes a blockchains market cap and divides it by the total value locked (TVL) on the same blockchain. Taking the sum of the market caps for the top 6 blockchain projects and dividing it by the total value locked on the 6 projects gives a total MC/TVL figure of 8.

Applying this figure to the Ethereum network (8 x Ethereums TVL at $47 billion), shows the blockchain valued at $376 billion, suggesting that the blockchain is approximately 6% overvalued.

Metcalfes law is often used to estimate a networks valuation. According to the models creator, Robert Metcalfe, because of the way new technologies scale, a networks valuation and future value should be evaluated on an exponential basis, rather than linearly. The law states that the value of a network is proportional to the square of the number of connected users.

Using data from Etherscan and looking at monthly active Ethereum users (15 million) squared gives a $225 billion valuation for the Ethereum blockchain, suggesting the networks true value is 44% below its current $400 billion market cap. Russ notes that using Metcalfes Law model kicks out a figure that is the most out of line with the other models, but theres a catch.

Taking the various outcomes from the four models used and adding a simple weighted average of 25% from each model gives an implied value of $345 billion or $2,875 per Ether, according to Russ.

Russ said,

Russ concludes that while the models ETH price valuation might not excite investors who expect ETH price to rise much higher than its current value, the use of quantitative-based models gives more accurate and conservative estimates for a projects true value. The use of multiple valuation models can also help investors identify arbitrage opportunities.

For investors, Russ says his model allows the creation of deep convictions about Ethereums current value and its potential future valuation.

Related: How will Ethereum price react to Bitcoin ETF approval?

Russ hinted that Ether could possibly do a 17x return from its current valuation. Referring back to the 33% per year growth of Ethereum wallets/profits, Russ said that using simple compounding and a 10-year view of this trend holding means that $1,000 invested in Ether today would be worth $17,319 by 2033.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

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Ethereum network is valued fairly, but ETH could still see 17x return Brian Russ - Cointelegraph