Kategorie: Ethereum News

Ethereum news about the ETH blockchain and its crypto ecosystem.

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Ethereum price: Analyst points to potential short-squeeze

  • Ethereum price traded near $2,600 as crypto experienced a brief lull.
  • A CryptoQuant analyst says ETH could witness a short squeeze, but points to $2.7k as key resistance.

Ethereum traded to near $2,750 on Monday, Oct. 21, rising amid broader gains for the crypto market as Bitcoin shot past $69,000. However, with BTC dipping, the ETH price followed suit and tested support near $2,600 on Oct. 22.

The price of Ethereum has returned above $2,620, and a CryptoQuant analyst says the top altcoin could see a short squeeze scenario. According to Shayan B, this outlook results from the rising leverage. If the bulls manage to break out above the supply wall around $2.7k, then ETH price could rise further.

Ethereum price outlook

Currently, the market seems bearish on ether price prospects, which means many traders expected a downside continuation. But with “leverage at concerning levels,” a short squeeze would mean unexpected price surge and major liquidations.

ETH would notch gains in such a case.

“With leverage at concerning levels, the futures market is now considered overheated. This leaves Ethereum vulnerable to a potential short-squeeze event. In such a scenario, if ETH’s price rises unexpectedly, traders with short positions could be forced to cover their positions by buying back ETH, creating an impulsive price spike,” the analyst noted.

The key level however remains at the 100-day moving average near $2,700. This area presents a notable resistance area that bulls may have to conquer to see further gains.

Data from Coinglass showed total 24-hour crypto liquidations stood at over $165 million.

Most of this, about 75% were long positions rekt over the past 24 hours at $129 million. Shorts accounted for about $36 million. Looking at Ethereum, data showed longs accounted for $36 million of the total $39 million liquidated over the past 24 hours.

ETH price reached its year-to-date peak of $4,070 in March.

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EthOS launches hardware device for Ethereum on-chain dApp interactions

  • ethOS launches dGEN1, a device for Ethereum on-chain dApp interactions.
  • dGEN1 runs on LineageOS with a Nimbus client, eliminating third-party RPCs.
  • Preorders open at 0.2 ETH via NFT minting, shipping in Q2 2025.

The Ethereum-based operating system ethOS has unveiled the dGEN1, a pioneering hardware device designed to enhance interactions with on-chain decentralized applications (dApps).

This innovative product, which ethOS describes as “the first on-chain everyday carry,” is specifically optimized for users engaging with Ethereum’s expanding ecosystem.

dGEN1 will operate on a version of LineageOS

The launch of the dGEN1 follows the success of similar blockchain-focused devices, such as the Solana Mobile Saga and Seeker. However, unlike its Solana counterparts, the dGEN1 does not offer telecom capabilities, focusing solely on Ethereum interactions.

The dGEN1 operates on a specialized version of LineageOS, a popular Android fork, which enables the integration of a native Nimbus light client. This feature allows users to verify their data while interacting with dApps, eliminating the need to rely on potentially untrustworthy third-party remote procedure calls (RPCs).

The device also includes a built-in browser that supports IPFS and .eth domains, facilitating seamless access to decentralized content.

One of the standout features of the dGEN1 is its dedicated screen, which provides real-time transaction notifications and metadata during network interactions. This functionality aims to enhance the user experience by ensuring that users remain informed about their activities on the Ethereum network.

dGEN1 preorders currently open

For those interested in acquiring the dGEN1, preorders are currently available through an NFT minting process on the Base Layer 2 network for 0.2 ETH, approximately $520.

According to the company, shipping of the devices is expected by the second quarter of 2025, and as of now, around 630 users hold the associated NFT.

In addition to the device, ethOS plans to reward device owners with an airdrop upon delivery of the dGEN1. Each owner will share in the airdrop pool, further incentivizing early adopters.

With its unique features and design, the dGEN1 aims to position itself as an essential tool for Ethereum enthusiasts looking to engage with on-chain dApps efficiently.

The post EthOS launches hardware device for Ethereum on-chain dApp interactions appeared first on CoinJournal.

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Layer 1 payments network CrossFi launches EVM-compatible mainnet

  • CrossFi launched an EVM-compatible mainnet for scalable web3 payments.
  • The network supports 10,000 TPS and bridges Ethereum assets seamlessly.
  • Governance uses MPX tokens, with fees averaging $0.02 per transaction.

Cross Finance, commonly known as CrossFi, has announced the launch of its EVM-compatible mainnet, marking a significant step in the evolution of decentralized finance (DeFi) and web3 payment solutions.

The CrossFi blockchain aims to provide a scalable, decentralized ecosystem designed to support high-volume payments and everyday transactions, bridging traditional finance with the world of crypto.

The CrossFi mainnet’s launch comes on the heels of a successful testnet, conducted in collaboration with CoinList, which attracted over one million active wallets.

The CrossFi blockchain

The network’s infrastructure is built using the Cosmos SDK and Tendermint, enabling a modular design that supports up to 10,000 transactions per second (TPS).

This scalability makes CrossFi suitable for hosting payment applications that require high throughput, similar to Visa-level processing capabilities.

As an EVM-compatible network, CrossFi allows seamless integration with Ethereum-native assets, which can be bridged to its platform and utilized within its payment ecosystem.

Its security is reinforced by PCI DSS certification, a data protection standard recognized by major payment card companies, ensuring that the platform maintains industry-leading data transmission and storage practices.

The governance of the decentralized network is powered by the Mint Power (MPX) token, which is also used to facilitate transaction fees that average $0.02 per transaction.

In addition, the Cross Finance ecosystem features a variety of financial tools, including CrossFi App, which enables services like staking, lending, crypto-fiat exchange, and P2P payments. Users can also leverage CrossFi xAPP for token swaps, cross-chain asset bridging, and liquidity mining.

Further enhancing its ecosystem, CrossFi supports synthetic asset minting, over-collateralized stablecoins, and offers decentralized platforms for trading real-world assets.

By integrating multiple functionalities across its components, Cross Finance is set to democratize access to decentralized finance and facilitate the adoption of blockchain technology in global payments.

The network’s launch partners, including Alchemy and other validators, will play a key role in optimizing performance and maintaining decentralization.

With this mainnet launch, CrossFi is positioned to become a pivotal player in the evolving web3 financial landscape, empowering businesses and users to explore new possibilities in the digital payments space.

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Crypto market on a free fall as Iran launches missiles into Israel

  • Crypto market drops as Iran launches missile strikes into Israel.
  • Bitcoin falls to $62k; Ethereum drops below $2,500.
  • The global crypto market cap declines by 2.72% to $2.18 trillion.

The global crypto market has witnessed a sharp decline following reports of Iran firing missiles into Israel.

The heightened geopolitical tensions have sent shockwaves through financial markets worldwide, with crypto assets taking a significant hit.

As news of the missile strikes spread, cryptocurrency markets reacted swiftly. Bitcoin (BTC), the largest cryptocurrency by market capitalization, had dropped to $61,932.92 at press time while Ethereum (ETH), the second largest cryptocurrency, witnessed a 3.42% plunge, with its price dipping below $2,499.30.

Altcoins, often more volatile, experienced even steeper declines, with Arweave (AR), Notcoin (NOT), Gala (GALA), and Worldcoin (WLD) dropping by double digits as investors scrambled to offload risky assets.

As the market plunged, the global cryptocurrency market cap dropped by over 2.72% to $2.18 trillion.

The sudden drop in crypto prices underscores the market’s sensitivity to geopolitical events. Historically seen as a hedge against inflation and economic uncertainty, cryptocurrencies have not proven immune to geopolitical shocks.

Investors, rattled by the fear of broader regional instability and its potential impact on global markets, have moved to safer assets such as gold, which saw an uptick in prices.

The attack marks a severe escalation in the already volatile Middle East region. Iran’s missile launches were reportedly in retaliation for the Israeli operations in Lebanon that have resulted in the elimination of Hezbollah’s leader.

Israel has, however, responded swiftly, vowing to defend its territory, raising concerns of an impending large-scale conflict.

While the full extent of the conflict’s impact remains unclear, the continued volatility in the Middle East is likely to keep the crypto market on edge in the coming days.

Traders and analysts are now closely watching both diplomatic developments and market reactions.

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US spot Ethereum ETFs see largest daily outflows Since July

  • Overall, US spot Ethereum ETFs saw $79.21 million in outflows on Monday, the largest since July.
  • Grayscale’s ETHE recorded a significant $80.55 million outflow on the same day.
  • Spot Bitcoin ETFs had modest inflows of $4.56 million, led by Fidelity’s FBTC.

On Monday, US spot Ethereum ETFs experienced their largest daily outflows since late July, totalling $79.21 million. This significant drop was primarily driven by the Grayscale Ethereum Trust (ETHE), which recorded an outflow of $80.55 million, marking its most substantial outflow since July 31.

According to data from Sosovalue, ETHE was the only spot Ethereum ETF to report outflows on that day, highlighting a challenging period for the asset class.

In contrast, Bitwise’s ETHW managed to post a modest inflow of $1.34 million, while the remaining seven spot Ethereum ETFs registered no significant movement.

The total trading volume for the nine Ethereum ETFs reached $167.35 million, reflecting an increase from $139.47 million the previous Friday. This uptick in trading volume indicates that despite the outflows, investor activity in the Ethereum ETF space remains notable.

Meanwhile, spot Bitcoin ETFs fared better, experiencing modest inflows of $4.56 million on the same day. This marks the continuation of a three-day streak of inflows, led by Fidelity’s FBTC, which attracted $24.93 million. BlackRock’s IBIT, the largest Bitcoin ETF by net assets, also saw positive movement, with inflows of $11.54 million.

However, Grayscale’s Bitcoin Trust (GBTC) recorded a $40.33 million outflow, making it the only spot Bitcoin ETF to face losses on Monday.

As the cryptocurrency market fluctuates, with Bitcoin dropping 1.1% to approximately $63,122 and Ether falling 1.32% to around $2,627, these recent developments underline the volatile nature of digital asset investments. Investors will be keenly watching how these trends evolve in the coming days.

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