Ethereum News Archive - Seite 50 von 84 - Finanzmittel Info + Krypto + Geld + Gold

13. April 2023

Here’s why Ethereum Classic (ETC) price could jump by at least 12%

Ethereum Classic price has made a bullish break-out as cryptocurrencies rally.
It jumped after the latest American inflation data showed that prices were falling.
Some investors believe that Ethereum investors will transition to Ethereum Classic after the Shapella upgrade.

Ethereum Classic (ETC) price continued rising on Thursday as the recent cryptocurrency rally regained steam. The coin jumped to a high of $22.47, the highest level since March 18 of this year. The coin has jumped by more than 53% from the lowest level this year.

Ethereum Shapella upgrade

There are three main catalysts moving the ETC price this week. First, there is the ongoing Bitcoin price rally that we wrote about here. This rally saw the coin jump above the important resistance level at $30,000 for the first time since June last year. It has now jumped by more than 80% this year, making it a better performer than Tesla, stocks, and gold. Cryptocurrencies like Ethereum Classic tends to have a close correlation with Bitcoin.

Second, Ethereum Classic price reacted to the latest American consumer inflation data published on Wednesday. The data showed that the headline consumer price index (CPI) dropped to 5.0% in March, the lowest level since 2021. Core inflation also dropped on a month-on-mom basis. Therefore, there is a likelihood that the Federal Reserve will start pivoting soon. This pivot will involve pausing rate increases and leaving them unchanged for a while.

Finally, Ethereum Classic reacted to Wednesday’s Shapella upgrade of Ethereum. That upgrade activation made it possible for Ethereum stakers to be able to withdraw their tokens. Data by Staking Rewards shows that the volume of staked Ethereum stands at over $37 billion.

The move was seen as being positive for Ethereum Classic because of its controversy and regulatory concerns. The Securities and Exchange Commission has hinted that it views all tokens with a staking element as securities. Therefore, analysts believe that many investors will now move to Ethereum Classic, which is the equivalent of the pre-merge Ethereum. However, in reality, it is unclear whether this transition will happen.

Ethereum Classic price analysis

The daily chart shows that the ETC price has been in a strong bullish trend in the past few weeks. And this week, the coin managed to move above the important resistance level at $21.35, where it struggled to move above earlier this month.

The coin has also jumped above the 25-day and 50-day moving averages while oscillators have continued rising. Therefore, there is a likelihood that the coin will continue rising as buyers target the next key resistance level at $24.92, which is about 12% above the current level.

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The post Here’s why Ethereum Classic (ETC) price could jump by at least 12% appeared first on CoinJournal.

13. April 2023

Ether price closes in on $2k following the Shanghai upgrade

Key takeaways

The Ethereum network completed the Shanghai upgrade on Wednesday, allowing users to unstake their ETH coins.
ETH is up by more than 6% in the last 24 hours and is now trading close to the $2k level for the first time this year.
Ether is outperforming the other major cryptocurrencies.

Ethereum network completes the Shanghai upgrade

The Ethereum network has completed its long-awaited Shanghai upgrade, ushering in an era of staking withdrawals on the blockchain.

The Shanghai hard fork was completed at 22:27 UTC and finalised at about 22:42 UTC. The Ethereum community considers the upgrade a huge milestone as it completes Ethereum’s migration to a proof-of-stake protocol.

Thanks to the Shanghai upgrade, Ethereum users can now unstake their ETH coins on the blockchain. During the Shapella Mainnet Watch Party hosted by Ethereum Cat Herders, Vitalik Buterin, the co-founder of the Ethereum blockchain, revealed that the hardest and fastest parts of the Ethereum protocol’s transition are basically over.

He added that the Ethereum network will now be focusing on scaling (enabling faster transactions) following this upgrade. Buterin stated that;

“If we don’t fix scaling before the next bull run, we know people are going to be stuck paying $500 transactions. If, on the other hand, we don’t have Verkle Trees before the next bull run, well, things might suck, but you know, it’s a much smaller problem than, you know, $500 transactions, right?”

Ether closes in on the $2k psychological level

Ether, the native coin of the Ethereum network, has been rallying following the Shanghai upgrade. ETH is up by more than 6% in the last 24 hours and is closing in on the $2k level.

At press time, the price of Ethereum stands at $1,983, the highest it has reached since August 2022. The technical indicators show that ETH could rally higher in the near term.

ETH/USDT Chart By TradingView

The MACD line is within the positive region, indicating that the bulls are currently in charge of the Ethereum market. The RSI of 74 also shows that Ether could enter the oversold region in the near term.

If the bullish trend continues, ETH could break past the $2,031 resistance level over the next few hours. In the event of an extended rally, ETH could trade above the $2,160 level for the first time since May 2022.

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The post Ether price closes in on $2k following the Shanghai upgrade appeared first on CoinJournal.

11. April 2023

What is the Ethereum Shanghai upgrade? When is it?

Key takeaways

Ethereum’s Shanghai upgrade is slated for April 12th
For the first time, users will be able to unstake their ETH
There is currently 17.7 million ETH locked up, equivalent to 15% of the entire supply
Some users have had their ETH locked up since December 2020, when it traded at

Ethereum has its next major event lined up, referred to as the Shanghai upgrade. But what actually is it? And when is it going to happen?

Well, the when is the easiest part. After much anticipation, the event is slated to occur Wednesday (April 12th).

As for what it is, the headline development is that staked ETH will finally be able to be unstaked and sold.

Since the Merge upgrade went live in September 2022, Ethereum has been a proof-of-stake blockchain. However, staked Ethereum has still been locked up…until now. Once the Shanghai upgrade goes live, users are free to do what they wish with their ETH.

While the Merge only took place seven months ago, stakers had been locking up their ETH in the staking contract long before. Staking actually opened in November 2020, with the Merge repeatedly delayed until finally taking place in September.

How much Ethereum will be released?

Finally, the Merge went live in September, but the full transition to proof-of-stake was not yet completed. This means the ETH locked up has continued to grow and today there is 17.7 million ETH locked up, translating to 15% of the entire supply.

It has been a long wait for some investors. The price of Ethereum was below $400 in December 2020, before going bananas in 2021 as the crypto boom send prices vertical. It climbed as high as $4,800, only to crash down below $1,000 again as prices cratered during the bear of market.

And through all this time, the ETH has just been…there. Locked up and restricted from sale.

Liquid staking derivatives

Although investors did have options. Many utilised liquid staking derivatives, which means that they received tokens in lieu of their staked ETH. They could then trade these tokens, which because they will be redeemable for ETH once unlocked, theoretically (and largely in practice, too) traded pretty close to 1:1 with ETH.

So while the previous chart paints a rollercoaster of emotions as ETH skyrocketed during the pandemic boom before freefalling back down, not all investors were forced to ride that rollercoaster.

Will there be sale pressure on ETH?

The presence of staking derivatives means that the event will be less climatic, at least in terms of sell pressure. However, it remains true that ETH will still be easier to sell, and there is nothing to say that investors won’t withdraw and sell their ETH directly once they can.

Then again, there is nothing to say this will happen either. Like many things in markets, it comes back to the concept of being “priced in”. This event is not a surprise, and hence the pressure will likely not be heavy in either direction.

Of course, a bit of irrationality is not exactly rare in crypto markets, so perhaps there will be some movement. But again, this is a move which has been coming for a long time – it just formally has a date now.

Macro environment will hold the key

While the event is key for the fundamentals and long-term future of Ethereum, when looking at the price action specifically, macro remains the most pivotal factor, and the reason that crypto prices have surged upwards thus far in 2023.

ETH will continue to trade in line with the wider market. This in turn depends largely on the future path of interest rates and the sentiment in financial markets.

2023 has thus far seen a complete flip in expectations of interest rates, with the market pricing in an end to the uber-tight monetary policy which has been in place for the last year. This has helped propel crypto prices north, with Ethereum up 58% this year.

However, price is impossible to forecast, especially in the short-term. But looking beyond the number-go-up or number-go-down, the Shanghai upgrade represents another important milestone for Ethereum as a network and a technology, regardless of whether sell pressure may impact price in the short-term.

The post What is the Ethereum Shanghai upgrade? When is it? appeared first on CoinJournal.

11. April 2023

OKX to temporarily halt deposits and withdrawals of some tokens on April 12

The temporary halt is planned to take only one hour.
The halt is related to tomorrow’s Ethereum Shapella upgrade.
The affected tokens are mainly ERC-20 tokens.

Seychelles-based crypto exchange OKX has announced it will be temporarily suspending deposits and withdrawals of ETH, ARB, OP, and ERC-20 tokens because of the upcoming Ethereum Shapella upgrade.

The Shapella upgrade is scheduled to take place on April 12at epoch 194,048 at approximately 10:27 PM (UTC)

The temporary deposit and withdrawal halt

OKX said that deposits and withdrawals of the said tokens will be temporarily suspended on the crypto exchange for about one hour on April 12, 2023, at 9:30 p.m. UTC. The suspension will be in force until the Shapella upgrade is completed.

Besides, OKX Interoperability platform Wanchain said that its WanBridge frontend would be temporarily inaccessible starting at 10 PM UTC on April 12. Binance will also temporarily suspend deposits and withdrawals of ETH, OP, ARB and ERC-20 tokens via the Ethereum, Optimism, and Arbitrum networks, starting on April 12 at 10:20 PM (UTC).

Ethereum Shapella upgrade

“Shapella” is a derived upgrade name (Shanghai + Capella) to suggest two layers of the blockchain are being upgraded simultaneously. It is the first Ethereum network upgrade since The Merge upgrade.

The Shanghai upgrade will deploy changes to the Execution Layer while the Capella upgrade will bring some spec changes to the Consensus Layer. The upgrade will deploy EIP-4895 on the Execution clients to allow for the Withdrawal of staked ETH for Ethereum validators along with three other EIPs deployed on the mainnet.

The post OKX to temporarily halt deposits and withdrawals of some tokens on April 12 appeared first on CoinJournal.

3. April 2023

Ethereum price prediction as the Shanghai update draws near

Ethereum will go through its biggest update since the Merge.
The Shanghai update will take place on April 12.
It will likely attract the attention of the Securities and Exchange Commission (SEC)

Ethereum price moved sideways on Monday as investors focused on the upcoming Shanghai upgrade. ETH was trading at $1,800, where it has been in the past few days. This price was about 2.95% below the highest point this year. It has jumped by over 32% from the lowest level in March.

Shanghai update news

The main catalyst for Ethereum is the upcoming Shanghai update that is scheduled for later this month. For starters, this is a major milestone for the network since it will be the biggest update since Ethereum merged with the Beacon Chain in 2022.

The Merge helped to transition Ethereum from a proof-of-work (PoW) network into a proof-of-stake (PoS) platform. As a result, instead of mining, it now depends on validators to confirm transactions in the network.

This transition introduced the concept of staking, which allows people to lock their tokens to the network and earn returns. Unlike other staking projects, Ethereum holders cannot access their staked coins.

This update will make it possible for these users to withdraw their coins. Data compiled by StakingRewards shows tht the market cap of staked Ethereum stands at over $32 billion. This gives it a staking ratio of 15.6%. Therefore, this upgrade will likely boost the number of ETH coins in circulation.

Ethereum will likely be the target of the Securities and Exchange Commission (SEC), which wants to regulate staking blockchains and companies. Last month, the agency warned Coinbase against offering these products in the US. It also settled with Kraken about staking.

I suspect that the agency will increase its focus on staking if it prevails in its lawsuit against Ripple. Analysts believe that the judge overseeing the case will deliver the judgment in the second quarter of the year.

Ethereum price prediction

The 4H chart shows that ETH price has been in a tight range in the past few days. It has remained below the important resistance point at $1,845, where it has struggled to move in the past few weeks. It remains slightly above the 25-period and 50-period moving averages.

A closer look shows that Ethereum has formed what looks like a double-top pattern whose neckline is at $1,688. Therefore, there is a likelihood that the coin will have a bearish breakout in April after having a spectacular performance in March. If this happens, the next key support level to watch will be at $1,688.

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The post Ethereum price prediction as the Shanghai update draws near appeared first on CoinJournal.