Ethereum

Ethereum sinks as its Beacon Chain suffers a 'reorg' issue, other altcoins see red, and Bitcoin struggles to hold $30,000 · cryptocurrency · supply chains · real ...

“[W]e don’t have that macro support to give this sentiment a boost” yet, Safai said. Bitcoin, the largest cryptocurrency by market value, is also struggling to hold $30,000, currently trading just below at around $29,360. The merge plans to shift Ethereum from a proof-of-work network to proof-of-stake, making the blockchain more energy-efficient.

It's yet another of carnage on Satoshi Street as the broader cryptocurrency market is down by 6% led by a steep fall in the altcoin space. The Ethereum.

The Ethereum (ETH) price crash has further intensified with ETH slipping under $1,800. DeFi developers are dusting themselves off after Terra’s collapse halved the sector’s total value, and dampened markets aren’t going to help in convincing them that now’s the time to get back in the game. The latest ETH price crash comes over concerns regarding the stability of its upcoming upgrade ‘The Merge’.

Solana, Avalanche and Polkadot prices tumble as much as 20% · Bitcoin drops less as largest cryptocurrency serves as a haven.

Ethereum and its competitors dropped Thursday as investors continued to shed perceived risker digital assets. Bitcoin is holding stay above a key support ...

Any large-scale selling operation may cause market volatility in the current low liquidity situation," Blofin told Forbes in a Telegram chat. A call option gives the purchaser the right but not the obligation to buy the underlying asset at a predetermined price on or before a specific date. Bitcoin is widely considered a macro asset and is more correlated to traditional markets than altcoins. Ethereum's beacon chain, which will introduce a proof-of-stake consensus mechanism to Ethereum, experienced a seven-block reorganization, or reorg on Wednesday, raising concerns about Ethereum's impending upgrade, which is supposedly bullish for its native token. Bitcoin's relative outperformance likely stemmed from flight to safety – investors seeking refuge in the most liquid and largest cryptocurrency. Major dollar-pegged stablecoins like USDC, BUSD and DAI held on to their 1:1 dollar peg, while tether traded at a slight discount at $0.995.

Bitcoin's market cap has recently spiked relative to other cryptocurrencies. Barring the stablecoin USD Coin, all crypto tokens were trading sharply lower on ...

Ether slipped below the $1800 mark which may have spooked the investors resulting in a broader sell-off. Adding to the pressure are various macroeconomic factors that may push Ether further towards a new lower support level. With macroeconomic consideration in mind, investors should stay away from the high-risk investments at the movement," he added. The correlation of cryptos and equities has broken for a while, apparently, said Kunal Jagdale, Founder, BitsAir Exchange. With Bitcoin and Ethereum falling below their support levels, selling pressure increased, creating fear among the market participants, he added. The global cryptocurrency market cap was trading lower at $1.20 trillion, dropping more than 5 per cent in the last 24 hours.

Ethereum fell sharply, while Bitcoin faced relatively lower strain at press time on Thursday evening, as the global cryptocurrency market cap decreased 3.7% ...

A higher number is usually indicative of market tops, while lower values signal a bottom. — Ali Martinez (@ali_charts)— Ali Martinez (@ali_charts) #Bitcoinappears to be losing the support floor between $30,000 and $29,100. Bitcoin, Ethereum and Dogecoin traded below the $30,000, $2,000 and 8 cents levels, respectively, at press time. A contrarian view was expressed by chartist Ali Martinez, who said that Bitcoin appears to be losing support floor between the $30,000 and $29,100 levels. “Ethereum 2 merge was delayed until August, but it won’t truly let Ethereum be scaled up, they will use a multi-chain system and will connect to a wrath of Layer 2 scaling solutions.” “Ethereum is selling off as many crypto traders start to doubt Ethereum 2 will be successful,” said Moya in a note.

Following the Beacon Chain's block reorganization event, Ethereum dropped over 7% on Friday morning amid concerns around its planned merge.

Such an event means that for a brief moment the Beacon Chain had been forked, and blocks of transactions were being processed on yet another parallel version of the Beacon Chain. This counterpart is technically called the Beacon Chain and has been in operation since December 2020. More than 75% of these liquidations were long positions from bullish crypto traders.

Ethereum is a decentralized open-source blockchain system that features its own cryptocurrency, Ether. ETH works as a platform for numerous other ...

While Ethereum saw some recovery and trimmed the losses, it continued to trade lower along with other altcoins. The data suggested that there are a total of 120,941,087.94 Ether tokens are in circulation and unlike Bitcoin, there is no capping on the supply and circulation of the token. According to the data from Coinmarketcap, the total market capitalization of the second largest cryptocurrency dropped to $213.65 billion.

Ethereum (ETH) fell sharply on Thursday after a disruption in its proof-of-stake (PoS) plans cast doubts over the upcoming merge.

In this case, it was the latter. The Ethereum Beacon chain, which is set to introduce PoS into the blockchain, underwent a 7-block deep reorganization in the past 24 hours. Its tumble corresponded with a surge in liquidations over the past 12 hours.

Despite questionable performance in past week, we might see conclusion of massive bearish rally as Ether reaches massive support.

Last but not least is the massive overselling, which we see, according to the RSI indicator. While it is not so obvious on daily and intraday charts, Ethereum has reached the massive support line that had been the foundation of the rally that started in the summer of 2021. The 200-week moving average has not been touched once by Ethereum in the last 100 weeks.

So far in 2022, Ethereum has remained the worst-performing cryptocurrency among the top 5.

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Bitcoin continued to trade within a range from $28.7k to $30.6k, while much of the rest of the altcoin market was in a downtrend. Ethereum managed to stave the ...

The bullish divergence meant a bounce was imminent, and the $1800-$1840 area could be a place to enter short positions with a stop-loss at or just above the $1950 mark. A hidden bearish divergence can be used to signal a continuation of the former downtrend. Bitcoin continued to trade within a range from $28.7k to $30.6k, while much of the rest of the altcoin market was in a downtrend.

ETH was trading lower for a third straight session on Friday, as prices neared an 11-month low. BTC rebounded following yesterday's drop.

Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. ETH was trading lower for a third straight session on Friday, as prices neared an 11-month low. This comes whilst the overall cryptocurrency market cap was down almost 1% as of writing. Disclaimer: This article is for informational purposes only. Looking at the chart, this level seems to be the $1,750 level, which is marginally above an 11-month low at $1,705.