Kategorie: Ethereum News

Ethereum news about the ETH blockchain and its crypto ecosystem.

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Aave holders approve AAVE V3 upgrade on Ethereum

  • Aave holders approve major technical upgrade dubbed Aave Ethereum V3.
  • The vote results showed a total of 706,258 AAVE, or 100% support.
  • Aave Ethereum V3 is set for activation following the governance vote.

The Aave community has approved an Aave Improvement Proposal (AIP), a governance proposal seeking to activate Aave V3 on the Ethereum network. 

A total of 706,258 AAVE was staked as 100% of the vote supported the technical upgrade, which will also list WBTC, WETH, wstETH, USD Coin (USDC), DAI, LINK, and AAVE. The community had already pre-approved the tokens.

“The community has spoken and we have the light to deploy Aave Protocol V3 on Ethereum Mainnet. More details to come tomorrow,” the Aave team tweeted.

The proposal was created on 22 January 2023, while voting started a day later and ended on 26 January 2023 at 05:48 UTC +03:00 (Block height 16488207). Currently, the proposal is shown as “queued” on the Aave website, with details that this can be executed within 12 hours.

Aave V3 already deployed on other major chains

Aave V3 is a highly anticipated upgrade set for the Ethereum mainnet,with the improvement proposal following the decision to have V3 deployed afresh instead of a software update to the existing V2 pool.

Notably, AAVE V3 is already live on various major networks, having deployed in March on 2022 on Avalanche, Arbitrum, Optimism and Polygon. But while V3 introduced architecture flexibility and improved composability, the same features did not go live on Aave’s largest market.

Currently, Ethereum accounts for over $5 billion in total value locked (TVL) on Aave’s V2 protocol.

The upcoming upgrade will increase compatibility across V3 pools and reduce general complexity, the AIP read.

The post Aave holders approve AAVE V3 upgrade on Ethereum appeared first on CoinJournal.

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Why is Ethereum being outperformed by Bitcoin? Historical pattern changing in 2023


Key Takeaways

  • Ethereum has historically outperformed Bitcoin in bull runs
  • The pattern has flipped to start the year, with Bitcoin dominance rising 
  • Our Analyst Dan Ashmore jumps on-chain to look through history, and show how and why the pattern is changing

The Flippening, huh? Nothing incites debate within crypto circles quite like it. 

Referring to a scenario where Ethereum flips Bitcoin for the number one spot in the cryptocurrency ranks, the Flippening is anything from inevitable to delusional, depending on who you ask. 

I’m not sure I want to walk across the eggshells of that debate, for fear of my Twitter DMs, but I noticed something pretty interesting today when digging into the data on Ethereum vs Bitcoin. 

Ethereum is strongly correlated with Bitcoin

Firstly, the obvious. Ethereum is incredibly correlated with Bitcoin because, well, it is a cryptocurrency, and every crypto’s fate is tied to that of the orange coin. We know this by now. 

The graph below shows how tight this relationship has been since Ethereum went live back in 2015. 

But while these two best buddies follow each other around across the price charts, there are scenarios where they diverge a little bit. The famous ETH/BTC ratio is one which Ether fans in particular keep a keen eye on. 

It peaked in June 2017 at close to 0.15 before freefalling down to 0.025 before the end of the year. Today, it trades at around 0.07. 

Ether is better at bull markets than Bitcoin

You may have noticed that the previous ETH/BTC chart resembled the shape of the crypto market overall, through its many ups and downs. 

I plotted the price of Bitcoin against this ETH/BTC ratio. Indeed, the ratio rises as Bitcoin rises, and falls and Bitcoin falls. Using the Bitcoin price as a proxy for the whole industry, this suggests that the ETH/BTC ratio rises in bull markets and falls in bear markets. 

This makes sense. Bitcoin is often referred to as the boomer coin. I quite like it that way, despite it being meant as an insult, by the way. But it’s an understandable moniker because Bitcoin does move like a pensioner during bull markets when compared to altcoins. 

Ether may be the largest of the altcoins, but it still outperforms Bitcoin when the bulls are out to play. 

On the flip side, Bitcoin outperforms when the party ends. And by outperform, I mean that it tends to drop 60% as opposed to 70%. But hey, that’s for another day.

Pattern has flipped in 2023

But the price charts are showing something different. One month into the new year, Bitcoin has surged while the ETH/BTC ratio has fallen – precisely the opposite of what has happened historically. 

I charted the ratio back to the start of November, when Sam Bankman-Fried’s fun and games were revealed to the world and crypto fell, with Bitcoin cratering down to $16,000. 

The chart shows that the pattern remained as you would expect, i.e. the ratio fell as crypto and Bitcoin pulled back. But as we turned the page into 2023, the crypto market flipped and Bitcoin soared. Only problem is, ETH didn’t follow, but rather the ratio has fallen, from 0.077 on January 11th to 0.068 currently, despite Bitcoin spiking from $17,400 to close to $23,000 over the same period. 

Why? Honestly, I’m not sure. It’s unusual. 

Bitcoin is up 36% on the year whereas Ether is only up 29%. Yet looking at the returns of other altcoins, perhaps it is nothing to do with Ether. Many are being outperformed by Bitcoin, while even the outperformers are not doing so by as much as has been seen previously (note I have removed Solana for scale purposes, which is up 125% thus far this year, following being decimated by links to Sam Bankman-Fried and multiple projects fleeing the blockchain at the end of last year). 

In truth, this has just been a remarkable rise for Bitcoin from the depths of bear market pain. The rest of the market is not quite ready to forget the armageddon that was 2022, with many altcoins paring down over 90%. 

Ethereum wasn’t quite as bad, but still fell from an all-time high of nearly $5,000. The free money and stimulus packages of the pandemic are over. It is a different climate now, and it is proving more challenging to kick up hype for altcoins. 

The web3 narrative has faltered. NFTs have been crushed. There is no doubt that the narrative around ETH has been torn down. I have written about how institutional adoption will pare back in crypto, and how the sector’s reputation will take a long time to fix.

That is true for Bitcoin. Perhaps it rings even more true for ETH and altcoins, which have even more to do to regain investors’ trust. 

The post Why is Ethereum being outperformed by Bitcoin? Historical pattern changing in 2023 appeared first on CoinJournal.

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Ethereum Price Prediction V/S Metacade: Which Is The Better Long Term Crypto Investment?

The Ethereum price prediction 2023 looks like it will start to pick up once again, as investors are expecting some major price action for the ETH token into the long-term. While the Ethereum price prediction for 2023 is bullish, it is arguably not the best crypto to invest in right now.

On the other hand, if its presale is anything to go by, Metacade (MCADE) could easily post insane gains over the coming years, which makes it the number one best crypto to invest in for 2023 and beyond.

Metacade is, without a doubt, the best crypto to invest in

The Ethereum price prediction for 2023 looks bullish as the token is expected to start building some momentum after the merge took place in September 2022. While the current bear market is expected to continue for some time, the Ethereum price prediction 2023 is forecasting a trend reversal.

However, the best crypto to invest in during 2023 is Metacade. The MCADE presale was recently launched and over $3.5 million was raised in just over 9 weeks since the announcement. The project could rapidly become a key player in the GameFi revolution, and it is showing major promise in terms of future price action.

What is Ethereum (ETH)?

Ethereum is a layer-1 blockchain and the biggest ecosystem of decentralized applications (dApps) in Web3. The blockchain was initially built using a proof-of-work (PoW) consensus mechanism but was recently updated to a proof-of-stake (PoS) protocol during the merge in 2022.

Ethereum’s new PoS protocol allows for a more economical blockchain system that requires less computing power and is less taxing on the environment as a result. The key difference is that the mining process delegates to trusted participants, who are incentivized to behave in a trustworthy manner, instead of using an expensive system where nodes compete to mine blocks using their GPU power.

Ethereum is still one of the best cryptos to invest in, as it was the first Turing complete blockchain. This has led to Ethereum supporting over 2000 independent projects, as an increasing number of use cases have been found for blockchain technology due to Ethereum’s innovative solution.

Ethereum Price Prediction 2023: Will ETH reach $2500?

The Ethereum price prediction 2023 is more bullish than in 2022, when Ethereum suffered an 80% price reduction. The ETH token is expected to reverse this trend and could begin to climb back toward its previous all-time high at $4865.

ETH faces strong resistance at $1775. However, if the token can break through this price level, the next target is $2500 for the Ethereum price prediction 2023.

What is Metacade (MCADE)?

Metacade, which is the best crypto to invest in now, is a comprehensive gaming platform that brings classic arcade-style titles onto the blockchain. All Metacade games have integrated earning mechanics, allowing players to earn an income while playing some of the hottest titles in the GameFi sector.

The platform has been built by gamers, for gamers, and aims to become a hub for the Web3 community. Metacade can drive innovation in the blockchain gaming space through its Metagrants program, and will also give users the chance to kickstart a career in Web3.

How does MCADE work?

Metacade’s Play2Earn arcade will offer a range of different games for its community. Gameplay can be either casual or competitive, as users will also be able to enter paid entry tournaments for the chance to win exciting MCADE prizes.

The Create2Earn mechanic will reward users for sharing valuable information and contributing to the Metacade community. Contributions can include sharing alpha, posting game reviews, or interacting with other members, as Metacade aims to incentivize a buzzing platform that is brimming with useful information about Web3.

Metacade will also introduce a jobs board in 2024. This feature intends to connect users with full-time job opportunities at Metacade’s partner projects in Web3. Users will also have the chance to complete tasks, apply for short-time gig work, or land freelance roles through the Metacade platform.

Metacade is seeking to boost the overall level of innovation in the GameFi sector through its Metagrants program. This will give the community the chance to vote for the best new blockchain-based games proposals, directing Metacade to provide early-stage funding to support development and bring exclusive titles to the arcade platform.

Will MCADE reach $5?

Metacade has extremely high potential, which makes the presale a rare opportunity. MCADE is the best crypto to invest in now, especially since the presale is launching MCADE at a an early-bird low price.

The long-term price prediction for MCADE places it next to the biggest GameFi projects in the space, with $5 being a key target for 2025. In 2023, MCADE could hit the $1 mark as it begins to gain momentum for the long term. Without a doubt, Metacade is the best crypto to invest in at the current price level.

Is MCADE worth buying?

Metacade’s $5 target is a 250x price rise from the end of the presale, so it’s certainly a strong addition to any investment portfolio and by many accounts, is the best crypto to invest in during 2023. On the other hand, the Ethereum price prediction in 2023 could increase by 2x, with up to 10x gains forecasted for the next crypto bull market.

For investors looking to buy into the MCADE presale, it is worth knowing that the price is continually rising. MCADE was initially launched at $0.008 but will climb to $0.02 before the end of the event, which gives investors a limited time to get involved before it starts reaching higher price levels.

You can participate in the Metacade presale here.

The post Ethereum Price Prediction V/S Metacade: Which Is The Better Long Term Crypto Investment? appeared first on CoinJournal.

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The 6 Best Cryptocurrencies to Buy for a Solid Long-Term Crypto Investment Strategy in 2023

After a challenging year, the dust is finally starting to settle in the crypto markets. The seismic events of 2022 have changed market dynamics and investment strategies for the foreseeable future. Instead of seeking a quick return, many investors are now looking to play the long game. So which are the 6 best cryptocurrencies to buy for a solid long-term crypto Investment strategy in 2023?

The 6 Best Cryptocurrencies for Your Crypto Investment Strategy

  1. Metacade (MCADE)
  2. Ethereum (ETH)
  3. ApeCoin (APE)
  4. Ripple (XRP)
  5. Polygon (MATIC)
  6. Bitcoin (BTC)

1. Metacade (MCADE)

The play-to-earn (P2E), GameFi, and blockchain gaming sectors are all widely tipped for explosive growth in 2023 and beyond. That’s why there’s such a buzz around Metacade (MCADE), with its wide upcoming choice of metaverse and arcade games. The company plans to become the ultimate Web3 gaming hub, where gamers, developers and entrepreneurs connect, communicate and interact for mutual benefit and possible financial gain.

Here’s how Metacade (MCADE) works. Players will have the chance to generate income from P2E games, online competitions, creating content, alpha and beta testing, and new job opportunities. Developers can interact directly with gamers to test and develop products, launch new games, organize paid competitions, and recruit skilled employees. Finally, entrepreneurs and crypto fanatics can stake and invest their MCADE tokens.

Metacade (MCADE)’s business model is aimed at everyone with an interest in crypto gaming. This inclusive approach is further enhanced by the company’s stated intention to become a DAO, where every member is given control over input, and platform direction. The company’s forward-thinking roadmap also includes Metagrants, a program that provides funding for the development of the next-generation titles on the platform.

Why buy MCADE?

Metacade (MCADE) has yet to launch, so when considering your crypto investment strategy, it’s vital to look at the success of its presale, and the vision within its roadmap. With $3.3m raised rapidly in its beta stage presale, and already heading towards $5m, it’s a compelling offering in the P2E and GameFi industries. Both target markets are set to explode, and with a hot presale price, Metacade (MCADE) is the top pick of the best cryptocurrencies.

>>> You can participate in the Metacade presale here <<<

2. Ethereum (ETH)

The giant crypto number two features second on this list of the best cryptocurrencies. Some observers see Ethereum (ETH) as being in the permanent shadow of Bitcoin (BTC), but that misses the point. Both these behemoths are digital currencies, but Ethereum (ETH) offers much more, by supporting a huge range of smart contracts, decentralized apps and DeFi services.

Ethereum (ETH) has inspired many competitors who aim to address the well-known criticisms of the platform, namely high costs, scalability issues and slow transaction processing. Yet although some of the competition has succeeded in those goals, Ethereum (ETH) still marches on, thanks to its powerful functionality, widespread acceptance, stability, security and liquidity. Pretenders to the Ethereum (ETH) throne still have a long way to go before they can match its qualities.

Why buy ETH?

In uncertain times, investors often look to steady, established, and durable performers – and that rule applies equally to the crypto market. Typically it also means investors look to bigger companies, who are better placed to overcome any short-term blips or issues. Ethereum (ETH)’s size is definitely one factor that drives people’s crypto investment strategy, but its many other qualities are also what make it one of the best cryptocurrencies for the long term. 

3. ApeCoin (APE)

ApeCoin (APE) may not be everyone’s choice when it comes to the best cryptocurrencies, but it remains stubbornly popular with its enthusiastic fans. Backed by famous names like Paris Hilton and Justin Bieber, ApeCoin (APE) seems to divide opinions when it comes to crypto investment strategy. Critics point to a drop in value since its March 2022 launch, whilst fervent supporters mention successful NFT launches and the fact that is was barely affected by the FTX crash. 

Those hugely successful NFT launches are a large part of the reason why ApeCoin (APE) is such a darling of the crypto world. Certain holders of Bored Ape Yacht Club and Mutant Ape Yacht Club NFTs enjoyed spectacular returns, and it’s that promise – alongside super savvy marketing, clever merchandising, exciting future plans, and the association with Yuga Labs – that keep investors flocking to ApeCoin (APE).

Why buy APE?

Given that ApeCoin (APE) is widely accepted and wildly popular, there are plenty of investors who see this meme coin as an integral part of their crypto investment strategy. But is it a good long-term bet amongst the best cryptocurrencies? Yes, based on its continued popularity, peerless promotion, a burgeoning ecosystem including gaming, and high liquidity. ApeCoin (APE) may well prove that sometimes, the hype is fully justified. 

4. Ripple (XRP)

Ripple (XRP) is a classic example of how cryptos have the power to shake up old-fashioned market dynamics and deliver a new service that is faster, cheaper and more secure than traditional methods. If you’ve ever experienced the frustrations of trying to make an international transfer with a conventional financial institution, you’ll appreciate the lightning-fast speed, convenience and low fees of Ripple (XRP).

Some people assume that Ripple (XRP) focuses on individual customers, but the company is more targeted at financial services companies, who use it to deliver a better service to their customers. Ripple (XRP)’s clients include some of the world’s best-known financial institutions, such as Santander, Bank of America and UBS. Names like that underline why Ripple (XRP) scores so highly amongst the best cryptocurrencies, and why it’s an investment for the long term.

Why buy XRP?

For all its reputation as being amongst the best cryptocurrencies, there is an elephant in the room with Ripple (XRP) – its ongoing lawsuit with the SEC over a possible breach of regulations. A negative verdict will obviously have severe negative consequences, but the opposite is also true. If Ripple (XRP) can win its case – and remember, it has many big-name customers and partnerships – then it should definitely be part of a solid long-term crypto investment strategy.

5. Polygon (MATIC)

Some cryptos are all about the hype, backed by high-profile celebrities, glitzy marketing and prestigious sponsorships. But when you probe beneath all that style, often you find very little substance. Polygon (MATIC) couldn’t be further away from that model. If Polygon (MATIC)’s marketing was as good as its platform, product range and functionality, it would surely be an even greater success than it already is.

Polygon (MATIC) is widely recognized as the leading layer-2 solution for Ethereum (ETH). It works by offering faster, more scalable, cheaper and more flexible transaction processing. Those qualities, plus its ease of use, have made Polygon (MATIC) hugely popular with developers and investors. With so many apps running on the platform, and so many developers on board, Polygon (MATIC) is an essential element in any long-term crypto investment strategy.

Why buy MATIC?

Many investors now prefer to back industry giants like Ethereum (ETH). Such a crypto investment strategy is likely to have a positive effect on companies like Polygon (MATIC) which are closely aligned to Ethereum (ETH). But it underplays the excellent functionality, reputation and partnerships that make Polygon (MATIC) one of the best cryptocurrencies in its own right. Its ongoing success and impressive future plans mark it out as a fine long-term prospect too. 

6. Bitcoin (BTC)

If you ever needed evidence of the merits of a long-term crypto investment strategy, you need look no further than Bitcoin (BTC). Investors who bought BTC in early 2017 paid a price of around $1,000. At the start of 2023, that investment is worth an 18x multiple. Admittedly, that figure is not as impressive at the 2021 high of over $68,000, but it does illustrate the value of taking a long-term view.

Naturally, Bitcoin (BTC)’s sheer size means that it invariably features on any list of the best cryptocurrencies. Bitcoin (BTC) has weathered many storms since its launch way back in 2009. Other companies have come and gone, but Bitcoin (BTC) has resisted and persisted. For many, it’s the “go-to” cryptocurrency, and its market dominance doesn’t look to be under threat any time soon. All long-term crypto investment strategy plans should include Bitcoin (BTC).

Why buy BTC?

There’s a widespread acceptance by big institutional investors that, despite everything, cryptocurrencies are here to stay. Those investors also understand the importance of following the biggest, longest-established, most popular, and most valuable player in any market. Finally, they know better than anyone that if you play the long game, markets almost always recover. If Bitcoin (BTC) is the choice for institutional investors, it should be the choice for everyone.

Best Cryptocurrencies for Your Crypto Investment Strategy: The Verdict

If you’re looking at the best cryptocurrencies to buy as part of a solid long term crypto Investment strategy, all of the candidates here have their specific attractions. What’s more, ApeCoin (APE), Bitcoin (BTC), Ethereum (ETH), Metacade (MCADE), Polygon (MATIC) and Ripple (XRP) all have the potential to enjoy a long and prosperous future.

Choosing an outright winner can be hard, but in the end, it’s actually an easy decision. The boom in P2E and GameFi means that Metacade (MCADE) is an amazing prospect for the long term, with its current presale offering excellent short and mid-term gains too. However, there’s no time to delay if you want a piece of the action at the best presale price.

You can buy the best cryptocurrencies at eToro here.

You can participate in the Metacade presale here.

The post The 6 Best Cryptocurrencies to Buy for a Solid Long-Term Crypto Investment Strategy in 2023 appeared first on CoinJournal.

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Porsche halts NFT mint amid negative feedback from community

  • Porsche announces halt to NFT mint of iconic 911 Model, just a day after public mint opened.
  • The German car manufacturer said it had listened to the community’s feedback and the mint will halt on 25 January at 6 am UTC-5.
  • Porsche had offered 7,500 NFTs for the public mint, with each digital replica priced at 0.911 ETH.

German sports car maker Porsche has announced its stopping the minting of its non-fungible token (NFT) collection, less than two days after opening it for the public on 23 January.

Porsche on NFT-  the community spoke

According to an update the car manufacturer posted on Twitter on Tuesday, the decision to halt the inaugural mint follows the response of the community. Per the German-based company, the negative feedback it received from holders was enough for it to cut the supply of the NFTs and halt the mint.

“Our holders have spoken. We’re going to cut our supply and stop the mint to move forward with creating the best experience for an exclusive community. More info in the next hours,” the Porsche NFT project team noted on Twitter.

The NFT collection offered a digital replica of the car maker’s iconic 911 model, with the 7,500 NFTs on offer priced at 0.911 ETH each. At the current price of Ethereum, that was roughly $1,490 per item – a price heavily criticized as being too expensive.

The company’s Web3 strategy has been criticized as largely underwhelming across the community, and many see this as another example of how much more traditional companies need to learn about Web3 before launching projects.

While Porsche noted the mint was halting, it provided an update that noted it would remain open until Wednesday, 25 January at 6 am UTC-5.

At the time of writing, of the total supply provided, 5,639 NFTs are open for minting. The FAQ page shows the mint supports three wallets – MetaMask, Coinbase and WalletConnect.

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