Kategorie: Ethereum News

MEW is the leading wallet platform for digital assets on Ethereum, and Enkrypt brings its functionality to the Polkadot ecosystem.

MyEtherWallet (MEW), a leading platform in the crypto sector for the access to the Ethereum (ETH) ecosystem, has launched Enkrypt, a user-friendly cross-chain browser extension for Ethereum and Polkadot (DOT).

The web extension, which will support seamless multi-chain transactions for users on Ethereum and for the first time Polkadot, was developed in conjunction with Swiss platform Web3 Foundation, the MEW team said in a press release.

Enkrypt targets Web3 growth

Ethereum’s impending transition to Proof-of-Stake consensus with the Beacon Chain merge and the potential explosion of Web 3 technologies aided the developers’ efforts to create the browser extension.

It is hoped the feature will enable further adoption across the Ethereum ecosystem and tap into the interoperability capabilities possible with the Polkadot protocol. Cross-chain access will also be available through parachain integrations, including with top platforms Acala and Moonbeam. The feature will also extend to all the canary networks across the various protocols.

“Interoperability between blockchains has been top-of-mind for MEW users and is a pivotal step towards broader crypto adoption,” Kosala Hemachandra, founder and CEO of MyEtherWallet said in the press release.

The Enkrypt extension, Hemachandra added, is designed to enhance user experience as they interact across the multi-chain ecosystem.

Users can access the extension on the major browser platforms – Google Chrome, Firefox and Safari – and will benefit from being able to natively integrate with their MEW wallets on browsers and on mobile.

The post MyEtherWallet launches cross-chain Web Extension for Polkadot appeared first on CoinJournal.

Ethereum Classic is the best-performing cryptocurrency amongst the top 20 cryptocurrencies by market cap today.

The cryptocurrency market is performing positively today after starting the week in a poor fashion. The market is up by 1.5% in the last 24 hours, with the total market cap still above the $1 trillion level.

Bitcoin has taken advantage of the ongoing market performance to rally past the $23k resistance level. Ether is trading above $1,600 once again after adding more than 3% to its value over the last 24 hours.

However, ETC, the native token of the Ethereum Classic blockchain, is the best performer in the top 20 cryptocurrencies by market cap. 

ETC has added more than 10% to its value in the past 24 hours, outperforming the other leading cryptocurrencies in the process.

Ethereum Classic has been performing excellently since the Ethereum community announced that ETH 2.0 (Merge) is coming soon. ETH 2.0 will see Ethereum become a proof of stake protocol.

This will prompt Ethereum miners to migrate to the Ethereum Classic blockchain, which continues to maintain its proof of work mechanism. ETC has added more than 35% to its value in the last seven days and could rally higher soon.

Key levels to watch

The ETC/USD 4-hour chart is positive as Ethereum Classic has been performing excellently in recent days. 

The MACD line remains above the neutral zone, indicating bullish momentum for the cryptocurrency. 

The 14-day relative strength index of 53 shows that ETC could enter the overbought region if it continues with its current trajectory.

At press time, ETC is trading at $36.80. If the bullish momentum is maintained, ETC could top last week’s high of $43 over the coming hours or days. However, it could need the support of the broader crypto market to reach the $50 mark for the first time since March. 

The post Ethereum Classic continues its rally as ETH 2.0 draws closer appeared first on CoinJournal.

What blockchain will win? A common question in the world of cryptocurrency. But in truth, the future is likely one of interoperability. Certain blockchains will be bigger than others, but many will exist.

I sat down with Ram Ramachandran on the latest episode of the CoinJournal podcast to discuss this issue and more. Ram is the CEO of the Router Protocol, an infrastructure layer which aims to enable communication between blockchains.

Ram has been in crypto for the best part of a decade, meaning he has some good perspective on the recent bear turn and how it compares to what else we have seen. Previously working in the traditional capital markets, Ram even worked for the rating agency Moody’s during the Great Financial Crisis, meaning he has a unique perspective from his time at the heart of the storm.

We discuss the bear market, why Ram believes Ethereum will remain King, the current economy, inflation, interoperability, running a start-up in the current turbulent times and a lot more.

The full interview is below:

Spotify -> here

YouTube to follow shortly

 

Router Protocol Contact Details

Router Protocol website: www.routerprotocol.com

Twitter: @routerprotocol

Flagship Dapp: app.thevoyager.io/swap

Telegram: routerprotocol

Discord: here

The post Interview: The future is interoperability – CEO of the Router Protocol appeared first on CoinJournal.

Ethereum price bounced back on Wednesday as the market refocused on the upcoming interest rate decision by the Federal Reserve. ETH rose to a high of $1,460, which was significantly higher than this week’s low of $1,356. 

Fed decision ahead

Ethereum price staged a strong recovery this month that saw it soar to a multi-month high of $1,665. This rally happened as investors bought the dip as they anticipated the upcoming merge. The combination of the current version with the Beacon Chain is expected to take place in September of this year. 

Once complete, the merge will bring the biggest shift in the blockchain industry in years because of the important role that Ethereum plays in it. It will make popular applications built on Ethereum like Aave, Uniswap, and Compound faster and less costly.

Ethereum price also jumped because of the strong inflows in the decentralised finance (DeFi) industry. The total value locked (TVL) across the sector rose from over $72 billion to about $85 billion. This was a strong recovery considering that the sector has been under intense pressure in the past few months.

ETH price is now bouncing back for two main reasons. First, the US dollar index has pulled back slightly ahead of the upcoming FOMC decision. The bank is expected to publish the latest decision during the American session.

Analysts expect that the bank will hike interest rates by another 0.75%. If this happens, it means that the Fed will have increased rates by 225 basis points this year alone. The US dollar is possibly retreating as investors price in a less hawkish statement from Powell.

Ethereum price is also rising as the stock market recovers. Futures tied to the Dow Jones, S&P 500, and Nasdaq 100 rose by more than 1% after the mixed earnings by companies like Microsoft and Google.

Ethereum price prediction

The 4H chart made a strong bearish breakout on Tuesday as the crypto sell-off accelerated. It reached a low of $1,356, which was the lowest level since July 18th. The coin managed to move below the 25-day and 50-day moving averages. At the same time, it invalidated the bullish flag pattern that is shown in black.

Now, Ethereum price is attempting to retest the lower side of the ascending channel. This is known as a break and retest pattern, meaning that the coin will likely have a bearish breakout in the near term. If this happens, the next key point to watch will be at $1,278.

The post Ethereum price forecast: break and retest pattern forms appeared first on CoinJournal.

Ethereum has rallied by nearly 40% in 10 days. The coin is now firmly above $1000. It has also surpassed the $1300 resistance as investors rush in to buy the July crypto dip. However, technical indicators suggest that ETH has lost momentum. The coin is now facing a steep sell-off. Here are some key takeaways:

• Momentum indicators on the chart show ETH is now overbought.

• The coin is struggling to hold above its 50-day moving average of $1300.

• A correction of around 20% is plausible over the next few days.

Data Source: TradingView 

Ethereum Price Analysis and Prediction

Between July 15th and July 25th, ETH charted a strong upward trend. The coin was up 40% during this period as the broader market recovered from July lows. But this strong momentum has now slowed. ETH has retreated sharply and is now hovering above its 50-day moving average of $1300. A drop below $1300 will likely trigger a steep sell-off that ultimately sends ETH to $1180.

Despite this, analysis of previous ETH trading history shows strong demand at $1550. In fact, nearly 586,000 unique addresses have purchased 5.1 million coins at the $1550 mark. If ETH reverses the current downtrend and rallies to $1550, our bearish outlook becomes invalidated.

However, this will not be easy. For instance, ETH is overbought. This leaves minimal space for a strong uptrend. The Tom DeMark (TD) Sequential indicator is also flashing the ‘sell’ signal. All these factors strongly affirm our prediction that a sharp ETH sell-off is highly probable.

Will ETH rise again in the near term?

For now, the best-case scenario is for ETH to hold above the 50-day MA at $1300. If this happens, we may see a period of sideways trading as the coin tries to generate demand.

However, the more likely outcome is that ETH will end July in the red. The coin might even fall below $1000 over the next 14 days.

The post Is it time to sell Ethereum despite the recent rally? appeared first on CoinJournal.