Author: Maria
On-chain data shows the Ethereum whales have been participating in constant distribution for the last six months, a sign that’s not ideal for ETH. Ethereum Accumulation Trend Score Has Been Red For Cohorts As A Whole As analyst James Van Straten pointed out in a new post on X, the Accumulation Trend Score has been showing a grim picture for Ethereum recently. The “Accumulation Trend Score” here refers to an indicator from Glassnode that tells us whether the investors of a given asset are accumulating or not. This metric takes into account for not just the net balance changes happening in the wallets…
Ethereum is at a critical juncture after failing to break above the $2,500 mark yesterday, leaving investors uncertain about its next move. As the broader crypto market anticipates a rally, Ethereum traders closely monitor signs of strength within the network. Despite recent price struggles, there are promising signals from the blockchain. Key data from IntoTheBlock suggests a growing demand for ETH staking, reflecting long-term confidence in the network’s future. This surge in staking activity indicates that investors are still optimistic about Ethereum’s potential, particularly with upcoming developments like staking rewards and network upgrades. However, the recent price action has raised…
Ethereum bulls might struggle for momentum at press time, but other onchain data points to interesting developments. While ETH is trading above $2,400 but capped by determined sellers, IntoTheBlock data shows that nearly 30% of all circulating ETH has been staked. Over 34.4 Million ETH Staked In 9 Months As of October 8, IntoTheBlock analysts note that 28.9% of all ETH has been staked. At this level, more holders are committing to tie their stash. The figure is up, rising from 23.8% recorded in January 2024. More than 15.3% of ETH has been staked out of this amount for over…
Even though the third quarter was tough, Bitcoin has been very strong in 2024, continuing to be the best-performing currency. A new report from the New York Digital Investment Group (NYDIG) says that Bitcoin made a small 2.5% gain in Q3, after going down in the previous three months. This makes the growth so far this year an amazing 49.2%. Bitcoin is still doing very well, even though the market is under a lot of pressure. Market Dynamics And Challenges In Q3 This year was no exception to the common perception that the third quarter of the year is a…
A new Ethereum Improvement Proposal (EIP), EIP-7781, introduced on October 5 by Illyriad Games co-founder Ben Adams, could significantly boost Ethereum’s transaction throughput by reducing the network’s slot time from 12 seconds to 9 seconds. The proposed change is aimed at increasing transaction throughput by approximately 33%. The motivation behind the proposal is to better distribute bandwidth usage over time, thereby lowering peak bandwidth requirements. By smoothing out bandwidth needs, Ethereum could maintain greater efficiency and reduce stress on node operators, particularly those with limited bandwidth capacity. According to Adams, this adjustment is designed to enhance throughput without compromising the…
According to latest reports, El Salvador Bitcoin’s dream is now under scrutiny by The International Monetary Fund (IMF). Particularly, the IMF has urged El Salvador to reconsider its approach to its Bitcoin law, recommending “narrowing” the law’s scope and reducing the public sector’s exposure to Bitcoin. Notably, BTC became a legal tender in El Salvador in September 2021, and ever since, the country has been actively working to integrate the crypto asset within the region. The Push To Tame Bitcoin Law, Why? The IMF’s call for El Salvador to limit its Bitcoin policy comes from ongoing discussions with Salvadoran authorities about…
The general sentiment behind the XRP price has been divided between market participants in recent months. Recent market dynamics have seen many investors adopting a negative outlook for the cryptocurrency’s price, especially considering its failure to break into new heights above $0.6. Furthermore, this negative outlook has been recently exacerbated by news of the SEC’s appeal of the judgement of the Ripple-SEC lawsuit. One notable analyst who has adopted a negative outlook on XRP is Max Keiser. According to him, the XRP rally that members of the community are waiting for is never going to happen. Bitcoin Maximalist Says XRP…
The crypto market recently suffered a significant downturn due to the escalating geopolitical tensions in the Middle East, with several large-cap assets shedding their recently-accrued gains over the past week. Specifically, the price of Ethereum crashed from above $2,600 to as low as $2,300 at some point during the week. This represents a fresh setback for the “king of altcoins,” which has not had a particularly positive performance in the past few months. Interestingly, a popular crypto pundit on X has come forward with an on-chain observation into the behavior of Ethereum investors over the last quarter. How Ethereum Whales…
The price of Bitcoin (BTC) experienced a steep decline in the past week, falling as low as $60,000 based on data from CoinMarketCap. However, the BTC market has made some recovery in the last day in line with positive jobs data news from the US. Diving into this development, financial industry analysts at Kobeissi have tipped the US Federal Reserve to implement a 25% rate cut in November. US Jobs Rise Higher Than Expected As Inflation Slips By 1% On Friday, the US Bureau of Labor Statistics released the latest employment situation summary for the North American country. This is…
The Bitcoin price having an outstanding Q4 to close the year 2024 has been one of the most prominent narratives in the cryptocurrency market in recent weeks. Interestingly, a popular blockchain firm has weighed in with unique on-chain insights into the BTC’s price trajectory. Can Bitcoin Price Reach $100,000 By December 2024? In a new report, CryptoQuant revealed that the price of Bitcoin is entering a period of positive seasonal performance with the historically bullish Q4 yet to take its usual course. The on-chain analytics firm highlighted that the premier cryptocurrency usually performs well in the last three months of…