Kategorie: Ethereum News

Ethereum news about the ETH blockchain and its crypto ecosystem.

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Crypto vs stocks: legendary investor Peter Lynch takes a side

Bitcoin has massively outperformed equities since the start of this year but legendary investor Peter Lynch continues to prefer the latter.

Lynch does not own any cryptocurrency

On Tuesday, the Vice Chairman of Fidelity Management & Research confirmed that he’s not exposed to cryptocurrencies.

Interestingly, Lynch is familiar with the technology that powers the crypto space. Still, he said today on CNBC’s “Squawk Box”:

I do understand blockchain. I know how it works. But what bitcoin is going to be, I have no idea. I don’t own any bitcoin or ether coin.

Lynch is keeping away from BTC even though he knows the total supply of it will be cut in half next year – an event that usually translates to higher price.

Lynch is sticking to ‘buy what you know’

Bitcoin has now slipped back to the $27,000 level but is still keeping above a key support suggesting the bullish sentiment is still there.

But for years, Fidelity’s Peter Lynch has recommended that investors “buy what they know” – and to him, that means stocks. Explaining how to pick stocks and when to pull out of them, he said:

Look at the company, the balance sheet. What’s the reason stock should be higher? When companies go from crappy to semi-crappy to good, stock goes up. When business gets terrific, get out.

Lynch expressed regret today for not investing in a number of large-cap tech companies in recent years, particularly Apple Inc and Nvidia Corporation.

The post Crypto vs stocks: legendary investor Peter Lynch takes a side appeared first on CoinJournal.

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Ethereum ICO account that bought ETH at $0.31 wakes up after 7 years

  • Ethereum (ETH) ICO price was $0.31 when the address received coins on 30 July 2015.
  • The addresses’ wealth has jumped from $733 to over $4.4 million at the time of the single transaction on 23 April 2023.
  • Last week a Satoshi era wallet woke up after over 10 years.

An Ethereum wallet that participated in the coin’s initial coin offering (ICO) has transacted for the first time, on-chain data shows.

The address received 2,365 ETH on 30 July 2015 and remained dormant until Sunday, 23 April 2023 when it transferred 1 ETH. The address received the ETH at block 0 and transferred the single ETH at prices of $1,868 at block 17110898.

With the ICO price having been $0.31 in 2015, the wallet‘s wealth has grown from around $733 to over $4.4 million.

“An Ethereum ICO participant woke up after 7.7 years of dormancy and transferred 1 $ETH to a new address. He received 2,365 $ETH ($4.42M currently) at Ethereum Genesis, the ETH ICO price [was] ~$0.31,” on-chain data tracker Lookonchain tweeted.

Ethereum price traded at an all-time above $4,800 in 2021 and hit year-to-date highs above $2,100 this month after the Shapella upgrade.

Bitcoin wallet woke up after 10 years

Last week another mega-dormant wallet address woke up, this time a Satoshi era Bitcoin wallet address that remained inactive for over 10 years. 

As highlighted by CoinJournal, the wallet was created in 2012 and held 1,128 BTC for over 10 years. On 21 April 2023, the wallet transferred 279 BTC worth about $7.8 million to three new addresses. 

Bitcoin price at the time of the wallet’s creation 10+years ago was between $12 and $95.

The post Ethereum ICO account that bought ETH at $0.31 wakes up after 7 years appeared first on CoinJournal.

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Ethereum price prediction: ripe for a 37% jump to $2,500

Ethereum price has pulled back in the past few days as the recent rally took a breather. ETH dropped to a low of $1,851, which was 14% lower than the year-to-date high of $2,131. This means that the coin has moved to the correction zone, which happens when an asset drops by 10% from its peak.

Is this the end of the crypto rally?

Ethereum price has declined sharply in the past few days as investors focus on the state of the crypto industry. This decline has been led by Bitcoin, which has dropped from the year-to-date high of $31,000 to about $27,000. 

There are several reasons why cryptocurrency prices have pulled back in the past few days. First, the sell-off is mostly because of profit-taking after they crossed key milestones. Bitcoin recently rose above the key milestone of $30,000. Similarly, Ethereum price recently rose above $2,000. In most cases, cryptocurrencies tend to decline after hitting a key level.

Second, Ethereum price is dropping because of the so-called ‘buy the rumour, sell the fact.’ Ethereum jumped recently jumped as investors waited to the Shanghai upgrade. The upgrade means that investors in key platforms like exchanges can now start withdrawing their coins. 

Further, ETH price is also plunging because of the uncertainty about the Federal Reserve. In a statement, Fed’s Christopher Waller said the Fed should continue hiking interest rates in the coming months. Analysts now expect that the Fed will continue hiking interest rates in May and then have a prolonged pause.

Ethereum price prediction

On the daily chart, we see that the ETH price has been in a strong bullish trend in the past few months. It has jumped from ~$1,080 to a high of $2,040. The coin has formed a cup and handle pattern, which is a bullish sign. As such, the ongoing decline is part of the handle section. 

Most importantly, the coin has remained above the 50-day exponential moving average. The Relative Strength Index (RSI) has moved below the neutral point. Therefore, there is a likelihood that the coin will bounce back in the coming weeks. If this happens, the next key level to watch will be at $2,500, which is about 37% above the current level.

How to buy Ethereum

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The post Ethereum price prediction: ripe for a 37% jump to $2,500 appeared first on CoinJournal.

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Zilliqa price prediction: ZIL gives up gains but bulls eye EVM for uplift

  • Zilliqa price fell to an intraday low near $0.032 after buying pressure had pushed ZIL to $0.035.
  • The Zilliqa team recently announced the highly anticipated upgrade that brings EVM compatibility will go live on 25 April 2023.
  • ZIL price rose after the initial announcement and bulls are looking to reap even more gains.

Zilliqa (ZIL) price dipped on Sunday, with the native token of the Sharding network recording declines of nearly 9% to reach $0.032.

The dip saw ZIL give up recent gains accrued when upside momentum amid network news pushed prices to above 0.035.

Zilliq 2.0 goes live on 25 April 2023

The announcement last week of Zilliqa 2.0, which brings Ethereum Virtual Machine (EVM) compatibility on the Zilliqa mainnet saw the price of ZIL rise above $0.035.

As noted in a blog post on 21 April, the upgrade will go live on 25 April 2023, with notable benefits being full compatibility of Solidity apps and seamless transfer of ZIL tokens across EVM dApps and wallets, including MetaMask.

The upgrade is also set to improve Zilliqa’s speed, scalability as well make it easy for developers to build on the blockchain. Developers will note that fees are multiple times cheaper on Zilliqa than on Ethereum.

Zilliqa price prediction: What next ZIL?

With over $5.5 billion worth of ZIL staked, more than 4.5 million unique addresses and more than 47 million transactions completed, it is clear there has been growth for Zilliqa. Yet there could be new impetus from developers and the community is excited about what EVM compatibility after Zilliqa 2.0 could mean for ZIL price.

The ZIL/USD pair was trading roughly 4% in the green over the past week as a result of the weakness seen over the past 24 hours. In terms of price prediction, breaking higher to the intraday highs in the short term will see fresh buy ZIL pressure that could help bulls target $0.46 and then $0.60.

The post Zilliqa price prediction: ZIL gives up gains but bulls eye EVM for uplift appeared first on CoinJournal.

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Ethereum (ETH) loses all post-Shanghai upgrade gains

  • Ethereum price has dropped by 11.8% over the last week.
  • It had surged above $2,100 after the Shanghai upgrade.
  • At press time, it was trading at $1,855 almost $300 below the post-Shanghai highs.

In recent days, the cryptocurrency market has been quite fragile, largely because of the increased threat of an economic recession. There has also been persistent high inflation and fluctuations in the stock market.

The top cryptocurrencies have been largely affected within the crypto space with Ethereum declining below its pre-Shanghai price levels and Bitcoin dropping below $28k. The global cryptocurrency market cap has also been on the decline since hitting a high above $1.25 billion on Thursday, April 13.

Key Ethereum price levels to watch

The sudden drop in price has left ETH investors/traders wondering what the future holds for the Ethereum price especially since the Shappella upgrade was seen as a game changer to the second-largest cryptocurrency by market cap. Most are now scratching their head wondering whether or not it will recover from this setback.

Ethereum price has already dropped past the first support level at $1,896. However, at its current price of $1,855, it is still too early to determine whether the bearish breakout is genuine or false.

If today’s candlestick closes below yesterday’s low of $1,913.60, there could be a high likelihood of a further decline towards the next significant support level at $1,846, a scenario that sees the cryptocurrency maintain a bearish trend until the end of the week.

If the price closes above $1,900 today, it could trigger a bounce back towards the $1,930 price zone tomorrow.

Looking into the future from a midterm perspective, the price of Ethereum has retreated to the middle of a wide trading range as sellers take control as the price remains below the $2,000 level. This is a likely indicator of the cryptocurrency facing continued pressure meaning it will struggle to regain its previous bullish momentum.

The post Ethereum (ETH) loses all post-Shanghai upgrade gains appeared first on CoinJournal.