Monat: Mai 2024

Veröffentlicht am

Ether.Fi price breaks above key resistance, is $10 next?

  • Ether.Fi price rose 10% as altcoins looked to rebound, hitting highs of $5.35 amid latest upside momentum.
  • ETHFI could target $10 if bullish sentiment prevails.

Ether.Fi price rose 10% to reach highs of $5.35, a seven-week peak for the Ethereum liquid restaking platform’s native token ETHFI.

Importantly, Ether.Fi price at current levels sees it trade above a crucial support-turned resistance area.

With prices up 47% this past week, can bulls strengthen to push to $10? The last breakout above $5 saw ETHFI rally to its all-time high of $8.53 on March 27.

Ether.Fi introduces ether.fi Cash

On May 24, the Ether.Fi team announced the launch of ether.fi Cash, a mobile wallet and Visa credit card that allows users to save, spend or invest with their ether.fi assets.

Cash allows users to borrow or settle everyday transactions with USDC. Users can also pay off balances using their stake and liquid rewards.

“Cash is the third in our Trilogy of products — ether.fi Stake, ether.fi Liquid, and ether.fi Cash. Combined these integrated products help users save, invest and spend their crypto, making it so that users never have to offramp again,” the protocol noted in an announcement.

ETHFI price surges past $5

Data from CoinGecko shows that ETHFI price soared alongside major altcoins as Ethereum spiked earlier in the week. The ETH price reacted sharply to news of an impending spot ETF approval, reaching highs of $3,900.

The upside momentum also impacted ecosystem tokens, with ETHFI bouncing from lows of $3.23.

Read more: Ether.Fi (ETHFI) token dumps after trading debut

Although price faced an initial rejection at the horizontal resistance line, a retest of the area saw bulls break higher to hit $5.35 on May 23.

The Relative Strength Index (RSI) on the daily chart is at 66 to suggest the upper hand is with the buyers. Also, the MACD indicator is strengthening above the signal line to reflect an overall bullish outlook for ETHFI.

If bulls flip the key resistance zone into a robust support area, a surge to $6.14 could see them aim for the ATH.

The post Ether.Fi price breaks above key resistance, is $10 next? appeared first on CoinJournal.

Veröffentlicht am

Uniswap price jumps 20% as UNI hints at massive breakout

  • Uniswap price reached highs of $10.99 on May 25, rising more than 20% in 24 hours.
  • UNI gained amid whale activity, Ethereum ecosystem developments and Uniswap Labs’ response to SEC’s Wells Notice.
  • The technical picture also hints at a breakout that could push UNI price to $15.40 and towards $2.

Uniswap price jumped more than 20% in 24 hours to trade at $10.99, its highest level since early April.

A bullish outlook suggests increased buying pressure could push UNI towards highs of $15.40 reached in March.

Uniswap price and the ETH ecosystem

UNI is the native token of the leading DEX platform, likely one of the top beta plays around the spot Ethereum ETF approval.

On Friday, Uniswap price defied marketwide consolidation, with the price of Ethereum (ETH) hovering above $3,700. As most altcoins looked to bounce off key support levels, UNI price rose more than 20% to touch a multi-week peak of $10.95.

This comes as whales increasingly withdraw UNI from exchanges. According to on-chain details shared by Lookonchain on X, one such whale withdrew $1.96 million in UNI from Binance as price rose.

Uniswap’s upside momentum has also strengthened amid the unveiling of ERC-7683. This new token standard is a collaboration between Uniswap Labs and Across Protocol and aims at streamlining cross-chain trading via a “unified framework for cross-chain intents systems.”

UNI surges after Uniswap response to SEC

Breaching the critical $10 mark also came amid a rising bullish sentiment around Uniswap’s regulatory outlook.

Earlier this week, Uniswap Labs’ reiterated its readiness to fight the SEC’s potential lawsuit following a recent Wells Notice.

According to Uniswap, the SEC is “wrong” in its assertions that the DEX platform is an unregistered securities exchange and broker-dealer. The allegation that UNI is a security is also wrong, with SEC’s theories around it “weak” Uniswap wrote in a response to the regulator.

Uniswap price chart

Uniswap’s surge in the past 24 hours sees UNI breakout of a consolidation phase that had prices capped below the $8 level.

Increased whale activity and the current projections for the ETH ecosystem favour UNI bulls.

The technical picture also supports an upside continuation. In this case, the RSI and MACD indicators on the daily chart suggest bulls are in control.

If this outlook holds, UNI price could eye the key resistance levels at $12.96 and $15.40. An important short term target lies at $2

The post Uniswap price jumps 20% as UNI hints at massive breakout appeared first on CoinJournal.

Veröffentlicht am

Marathon Digital partners with Kenya to harness underutilized renewable energy

  • Marathon Digital has partnered with Kenya to harness underused energy across the country for Bitcoin mining.
  • The deal will see over $80 million invested in projects aimed at boosting renewable energy utilization and optimization. 

Bitcoin mining firm Marathon Digital has signed a major deal with the Ministry of Energy and Petroleum of Kenya.

Sealed today, May 24, 2024, the agreement provides for partnership that will see the BTC miner harness the country’s underutilized energy for Bitcoin mining.

Marathon to tap into Kenya’s underutilized renewable energy

Marathon struck the deal during Kenya’s President William Ruto’s State Visit to the US.

According to the company, the agreement will see more than $80 million invested in “green data centers to boost renewable energy utilization and optimization in the Republic of Kenya.”

“This agreement with the Ministry of Energy and Petroleum is a pivotal moment for our business as it provides us with a clear framework to pursue opportunities across the Republic of Kenya,” Fred Thiel, Marathon’s chairman and CEO, said in a press release.

The company will work with the Kenyan government and other stakeholders to support initiatives aimed at optimizing energy usage across the country as well as development of key technological infrastructure, Thiel added.

Today’s agreement follows an earlier consultation between Marathon and Kenya, with this deal set to boost the country’s renewable energy sector.

MOEP and Marathon are set to “exchange policy, scientific, and technical information, as well as project investment expertise, to better understand how to optimize renewable energy projects that produce surplus energy due to intermittency and seasonal variations,” the company said in the press release.

Recent data showed that Kenya’s renewable energy sources accounted for over 80% of the country’s electricity generation. Of these renewable or clean energy sources, geothermal is the largest.

But although its estimated potential is 10,000MW, it is largely unexploited. Installed capacity was about 860MW in 2022.

The post Marathon Digital partners with Kenya to harness underutilized renewable energy appeared first on CoinJournal.