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Ethereum Network Bellatrix upgrade causes ETH price to spike

The Ethereum Bellatrix upgrade, which kicks off the final countdown for the much-anticipated Merge upgrade, is now live.

ETH price shot above $1,678 minutes after the Bellatrix upgrade was activated. At press time, ETH price had, however, dropped to $1,598.80 almost eroding the gains made after the Bellatrix upgrade.

The Bellatrix upgrade has added impetus to the recovering Ether that had previously been struggling amid strong bearish headwinds.

What is the Bellatrix upgrade?

The Merge is a two-step process and the first step is the Bellatrix upgrade that was triggered by an epoch height. The second step is the Paris upgrade that will be triggered by the targeted Terminal Total Difficulty (TTD) of 58750000000000000000000 expected to be reached between September 13th and 15th.

Bellatrix is the last upgrade on Ethereum’s Beacon Chain before the Ethereum blockchain completely shifts from proof-of-work (PoW) to proof-of-stake (Pos). The Beacon Chain went live last year.

Currently, each Ethereum node is represented on two different layers, the main chain which is a proof-of-work layer and the C layer (consensus layer). The Merge is expected to combine these two layers and transition to a PoS-based blockchain.

Bellatrix upgrade will enable validators to start producing updated Beacon Blocks, which will then contain the codebase for the merging of the two layers.

The post Ethereum Network Bellatrix upgrade causes ETH price to spike appeared first on CoinJournal.

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Crypto processing platform Calypso Pay adds support for Tron, Polygon And BNBChain

Calypso Pay users can now enjoy support for additional cryptocurrencies on the Tron (TRX), Polygon (MATIC) and BNBChain (BNB). 

Calypso Pay, an all-in-one crypto processing & acquiring platform, announced on Tuesday, September 6th, that it has added support for new currencies on Tron, Polygon and BNBChain. 

According to the company, the list of new currencies includes USDT TRC-20, USDT on Polygon, MATIC, BNB and BUSD. Thanks to this latest development, Calypso Pay users can now make and accept payments in the added cryptocurrencies. 

While commenting on this latest development,  Alexey Korneev, Operations Director, said;

“We at Calypso Pay work hard to provide one of the best solutions on the market for our customers. Previously Calypso Pay allowed its customers to accept payment with USDT ERC-20, BTC, ETH, USDC, and many others — today, we’re glad to announce we’re adding support for new blockchains and now enable our users to operate with USDT TRC-20, MATIC, USDT on Polygon, BNB and BUSD with more coins to follow to cover the growing demand of our users.”

Calypso Pay enables users to receive payments from their clients fast and in a secure way. With Calypso Pay, users can create invoices and/or use a payment widget to accept payments, initiate payouts for individuals or make payments to up to 1000 recipients at the same time. Furthermore, the platform allows users to manage their finances and more. 

This latest development comes a few weeks after Calypso Pay partnered with WatchData, a platform that helps web3 developers seamlessly interact with the blockchain, to launch Tron Mass Payouts.

The solution enabled customers to quickly set up Tron payouts to tens of thousands of addresses while saving both time and money on fees. 

The company said it plans to increase functionality for Tron in its platform in the coming months. The adoption comes at a time when the broader cryptocurrency is experiencing a bear market.

BNB, MATIC, and TRX have all lost more than 50% of their values over the past few months. 

The post Crypto processing platform Calypso Pay adds support for Tron, Polygon And BNBChain appeared first on CoinJournal.

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Why is Ethereum Classic up by more than 27% on Tuesday?

Ethereum Classic is the best performer amongst the top 100 cryptocurrencies by market cap in the last 24 hours.  

ETC, the native coin of the Ethereum Classic blockchain, is up by more than 27% in the last 24 hours. Thus, making it the best performer amongst the top 100 cryptocurrencies by market cap.

ETC’s rally comes as the broader crypto market has been performing well over the last 24 hours. The total market cap currently stands around $1 trillion, up by more than 2% today.

Bitcoin, the world’s leading cryptocurrency, continues to struggle to move past the $20k psychological level despite the broader crypto market performing well so far today. BTC is up more than 1% in the last 24 hours.

Ethereum Classic’s rally comes as the Ethereum community gets ready for the Merge event. The Merge event will see the Ethereum blockchain migrate from a proof-of-work (PoW) mechanism to a proof-of-stake (PoS).

As a result of the Merge, the Ethereum blockchain will no longer support miners. Miners on the network would be forced to move to other blockchains, and Ethereum Classic is one of the options available to them.

Key levels to watch 

The ETC/USD 4-hour chart is extremely bullish as Ethereum Classic has outperformed the other major cryptocurrencies in the market. 

The MACD line is deep into the positive zone, indicating a strong bullish momentum for ETC at the moment.

The 14-day relative strength index currently stands at 84, indicating that ETC is entering the overbought region very soon.

At press time, ETC is trading at $40.60. If the rally continues, ETC could surge past last month’s high of $45.65 before the end of the day.

In the event of an extended bullish performance, ETC could attempt to reach the $54 resistant mark for the first time since March 2022. 

The post Why is Ethereum Classic up by more than 27% on Tuesday? appeared first on CoinJournal.

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Ether is up by more than 6% today as the Merge gets closer

Ether is up by more than 6% in the last 24 hours as the Ethereum community gears for the upcoming Merge event.

ETH, the native coin of the Ethereum blockchain, is up by more than 6% in the last 24 hours. Thus, making it the best performer amongst the top 10 cryptocurrencies by market cap.

Ether’s rally comes as the broader crypto market has been performing well over the last 24 hours. The total market cap currently stands around $1 trillion, up by more than 2% today.

Bitcoin continues to struggle to move past the $20k psychological level despite the broader crypto market performing well so far today. BTC has added more than 1% to its value in the last 24 hours.

Ether’s positive performance comes as the Ethereum community gets ready for the Merge event. The Merge event will see the Ethereum blockchain migrate from a proof-of-work (PoW) mechanism to a proof-of-stake (PoS).

The Merge is slated to take place between September 10-20, meaning that it is only a few days away. The transition is designed to make the Ethereum network faster, more scalable, and reduce the cost of transactions.

Key levels to watch

The ETH/USD 4-hour chart is bullish as Ether has been performing really well over the past 24 hours. ETH’s positive performance is better than the other major cryptocurrencies.

The MACD line crossed into the positive zone yesterday, a shift from the bearish tone the market had taken in recent days. 

The 14-day RSI of 67 shows that ETH is heading towards the overbought region if the rally can be sustained.

At press time, ETH is trading at $1,670 per coin. If the bulls remain in charge ahead of the Merge, ETH could surge past the $1,782 resistance level over the next few hours or days.

In the event of an extended bullish run, ETH could cross the $2,000 psychological level for the first time this month. 

The post Ether is up by more than 6% today as the Merge gets closer appeared first on CoinJournal.