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Well it’s good that we still have staking going on and returns Every three days sometimes 1 to 2
Because with new news ETH should be running to prepare for the merge break…that should start a blue sky breakout but too many greedy 1 tic flippers will ruin the potential before it even gets close to doing anything which will turn away new investors…
I know what you mean, but crickets anyway.
I just see it’s all about the kids that play in the park
Why is everything about a crash or loss nevertheless anything positive
Well whoever that is buying just to dump back down is lame af because nobody falls for that trap anymore…lol
Was really hoping ETH would pick up as the merge approaches.
ETah has been on the decline all year….
Thats why there need to be regulations
Watch black rock take this from 1500-2500 out of no where
Doubt it will ever go down that low.
$ETHUSD
"Valkyrie Chief Investment Officer Steven McClurg joins Emily Chang and Bloomberg's Sonali Basak to discuss how macro trends are affecting the crypto markets, the implications of the Ethereum Merge, where Valkyrie sees opportunities in this environment, and his read on institutional sentiment."
Bitcoin Strategists See Charts Signaling Another Downward Move
yep. been holding it for years.
Why Ethereum Is An Attractive Investment Right Now
by Best Owie 4 hours ago in Ethereum Reading Time: 3 mins read
Ethereum has been stealing more market share from bitcoin over the last couple of weeks. This is a result of the Merge announcement that took the space by storm about a month ago. Since then, interest in Ethereum has skyrocketed. But with the decline in price, investors are becoming warier about investing in the market. However, that does not mean that Ethereum is no longer a good buy.
The Upcoming Merge
For many, the news of the Merge is one that has been a long time in the making. This is why when developers announced that the Merge would be happening sometime around September 15th, the community erupted in joy. But besides just being an important upgrade, the upgrade has also served as a good buy signal for the digital asset.
Firstly, with the move to proof of stake, Ethereum will consume about 99.95% less energy than it used to. This means that the concern of environmental pollution is eliminated for the digital asset and takes it off the radar of governments who are looking to sanction cryptocurrency mining due to how much energy they consume.
Another good reason is the fact that the ETH staked on the Ethereum 2.0 contract will not be automatically released. Presently, there is more than 11% of the total supply of ETH staked, with more being added daily. Developers have announced that there is no withdrawal function being put into the upgrade. This will likely come 6 months to 1 year after the Merge. Simply put, ETH will remain locked on the network for another 6 months to 1 year, causing the circulating supply to decline.
Ethereum Still Looks Bullish
Ethereum is still one of the most bullish cryptocurrencies in the market right now. The exchange net flow shows a marked accumulation trend among investors in the space. In the last 7 days, over $6.2 billion has been moved out of centralized exchanges, with the daily net flows following the same trend.
The transaction fees of Ethereum have also declined significantly, making it a good time for investors to move assets across the network. At the time of writing, ETH transaction fees sit at 11.74 GWEI, or $0.4.
The digital asset has also been able to fend off the bulls. With the price still sitting comfortably above the 50-day moving average, ETH has been one of the only cryptocurrencies in the space to reduce the selling pressure on investors.
To cap it all off, as the Merge draws closer, anticipation will likely continue to grow. If the case is the same as what was seen in the weeks after the announcement had been made, the price of ETH is likely to break $2,000 before the Merge.
https://www.newsbtc.com/news/ethereum/why-ethereum-is-an-attractive-investment-right-now/
Seem like the entire crypto world is running in place.
Unlikely to say the least.
Careful...that was the dead cat...this is going sub $1k again. Buy zone is $300-500 in a couple years, not now. Use DOWN coins to make $
Did you see what he had to say? As far as the crash? Smh
This is not Terra. If anything, it will be the defacto smart contract platform of the future, IMO.
$ETHUSD
If 1200-1500 comes. You buy. Long term. This is Software. Bill Gayes ain’t got shit on it.
Added $ETH @BlockFi Long and Strong $ETHE Premium World Computer 2.0 Code Is Law CHAiNLiNK’d
Terra looked the same way when it started dumping
Will Coinbase cancel ETH staking if sensor? hmmm!
Crypto Has “Found a Floor” Thanks to Ethereum Merge: JPMorgan
https://cryptobriefing.com/crypto-has-found-floor-thanks-ethereum-merge-jpmorgan/
Key Takeaways
-- 'JPMorgan analysts have said that the cryptocurrency market may have "found a floor." '
-- 'The analysts cited limited contagion effects from Terra's collapse and growing interest in Ethereum's "Merge" event as factors behind the recent market bounce.'
-- 'JPMorgan added that market sentiment could improve if Ethereum's upgrade goes ahead as planned.'
Ethereum Hits New Milestone, Investors Accumulate Ahead Of Merge
by Best Owie 4 hours ago in Ethereum Reading Time: 3 mins read
The Ethereum deposit staking contract has seen increased interest since developers announced that the Merge is likely to happen next month in September. This move to proof of stake will see miners be flushed out in favor of validators who earn rewards for staking their ETH, and more investors want to take advantage of this. This has seen Ethereum hit new milestones, while the most recent one has to do with the amount of ETH staked.
Staked ETH Crosses 13.3 Million
Staked ETH on the Ethereum network has now reached a new milestone of 13.3 million. This number has been a long time in the making and has recorded tremendous growth since the announcement about a month ago. The contract now sits at a whopping 13.308 million ETH now staked, rising with each passing day.
The total number of ETH now staked accounts for about 11% of the total supply. This means that 11% of Ethereum’s available supply has been rendered unmovable for the foreseeable future. As expected, this has had a big impact on the price since scarcity equals higher value. Ethereum had been able to cross $2,000 for the first time in more than 2 months.
The anticipation around the Merge has turned into a ‘buy the news’ event. More people are moving into the digital asset, given the promises held by Ethereum during this time. Add in the fact that withdrawals are not expected to come to the network until 6 months to 1 year after the Merge, the reduced market supply will continue to pump the price.
Ethereum Investors Strap In
An important byproduct of the announcement that the Merge is coming in September has been the accumulation trend that has been triggered. An example is the number of addresses holding at least 10,000 ETH, hitting a new 1-month high of 1,186. The same trend was seen in smaller investors holding at least 10 coins that touched a new all-time high of 313,562 wallet addresses.
In the early hours of Monday, Wu Blockchain reported that a long-dormant Ethereum wallet had been activated. This wallet which had a balance of 145,000 ETH, was said to be active during the ICO era of the network, garnering a total of 150,000 ETH during this time.
When the price of ETH hit $219 back in 2019, the owner of the wallet had made a single transaction o 5,000 ETH but had not had any other activity since then. The wallet has since gone on to transfer out 145,000 ETH to multiple wallets since its reactivation.
These trends are becoming more common as the Merge draws closer. Mostly, as investors buy the news, the price of ETH is on a dramatic rise. However, as has been seen in the past, it is expected that the price of ETH will likely decline after the Merge.
https://www.newsbtc.com/news/ethereum/ethereum-hits-new-milestone-investors-accumulate-ahead-of-merge/
The right direction.
Price will follow.
https://www.cnbc.com/2022/08/10/ethereum-goerli-testnet-merge-goes-live-before-move-to-proof-of-stake.html
Congress will likely decide the fate of crypto jurisdiction — Lummis staffer
BRAYDEN LINDREA
8 HOURS AGO
U.S. Congress will need to step in to decide who gets crypto regulation bragging rights if the SEC and CFTC cannot resolve the issue internally.
A United States Senator Cynthia Lummis staffer believes that United States Congress will have to step in and resolve the dispute between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) regarding who regulates cryptocurrencies if the matter cannot be resolved internally.
The issue stems from 2014, when the CFTC first asserted jurisdiction over virtual currencies. This was later reaffirmed by a U.S. Federal Court ruling in 2018, which stated that the CFTC had jurisdiction to prosecute criminals over fraud cases involving virtual currencies. However, it has been the SEC that has predominantly been investigating U.S.-based crypto exchanges and crypto assets to date.
On Wednesday, Senators Debbie Stabenow of Michigan and John Boozman of Arkansas introduced the Digital Commodities Consumer Protection Act of 2022 (DCCPA). If the bill is passed into law by the U.S. legislature, the CFTC would be granted rights to regulate digital commodities.
Most notably, the DCCPA would class both Bitcoin (BTC) and Ether (ETH) as digital commodities and not securities. This is particularly significant because SEC chairman Gary Gensler recently said in an interview with U.S. business news channel CNBC that BTC is the only cryptocurrency he is comfortable with labeling as a commodity:
“Some, like Bitcoin — and that’s the only one I’m going to say because I’m not going to talk about any one of these tokens, but my predecessors and others have said they’re a commodity.”
Despite the tension, however, Lummis’ staffer thinks the DCCPA bill has less than a 50% chance of being passed this year:
“The only way either bill would pass this year is if a catastrophic black swan event, like a major U.S. exchange collapsing, could rally lawmakers.”
The news comes after the SEC has begun investigating the $20 billion crypto exchange Coinbase, but Lummis’ staffer also stated that every U.S.-based crypto exchange is under investigation in some form.
Under U.S. law, the Howey test determines whether a transaction constitutes an investment contract (security). The test states that an investment contract exists “when there is the investment of money in a common enterprise with a reasonable expectation of profits to be derived from the efforts of others.”
If ETH, or any crypto asset for that matter, is found to fall within this definition, then U.S.-based crypto exchanges would be illegally trading securities. The SEC recently listed nine crypto-assets as securities.
https://cointelegraph.com/news/congress-will-likely-decide-the-fate-of-crypto-jurisdiction-lummis-staffer
Bitcoin (BTC) and Ethereum (ETH) To Be Policed by CFTC Under New US Senate Proposal: Report
Daily Hodl Staff August 4, 2022 BITCOIN, ETHEREUM, REGULATORS
The push to regulate cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) forges ahead as a bipartisan bill has been submitted to the United States Senate.
According to a new Wall Street Journal report, Michigan Democrat Debbie Stabenow who chairs the Senate Agriculture Committee is joining with Arkansas Republican John Boozman to empower the Commodity Futures Trading Commission (CFTC) to regulate the crypto spot markets via a new class of assets called “digital commodities.”
The article refers to the legislation as the latest salvo in a “competition for jurisdiction” between numerous government bodies and agencies, including the U.S. Securities and Exchange Commission (SEC) and the Federal Reserve.
While the proposed legislation does not include “securities” as part of the newly defined asset class, cryptocurrency exchanges such as Coinbase and FTX would fall under the CFTC’s jurisdiction. They would be required to register with the agency and offer consumer protections.
Boozman said of the new Digital Commodities Consumer Protection Act of 2022 proposal,
“This fast-growing industry is currently governed largely by a patchwork of regulations at the state level. That simply is not an effective way to protect consumers from fraud.
Our bill will empower the CFTC with exclusive jurisdiction over the digital commodities spot market, which will lead to more safeguards for consumers, market integrity and innovation in the digital commodities space.”
The Stabenow-Boozman bill represents the third instance of Senators proposing bills affecting cryptocurrencies in the past two months.
Last Wednesday, Republican Pat Toomey of Pennsylvania and Arizona Democrat Kyrsten Sinema put forth a new measure called “The Virtual Currency Tax Fairness Act” that would exempt small personal crypto transactions from taxation.
The bill will exclude personal crypto transactions worth less than $50 or with gains under $50 from being subjected to capital gains tax. Under the current system, people who use digital assets to pay for goods and services owe capital gains taxes when the value of the coin increases.
Back in early June, another bipartisan proposal from Senators Cynthia Lummis (R-WY) and Kirsten Gillibrand (D-NY) sought to establish a regulatory framework for the crypto industry.
Gillibrand said of The Responsible Financial Innovation Act,
“It is critical that the United States play a leading role in developing policy to regulate new financial products, while also encouraging innovation and protecting consumers.
[This] is a landmark bill that will establish a regulatory framework that spurs innovation, develops clear standards, defines appropriate jurisdictional boundaries and protects consumers.
[It] will provide clarity to both industry and regulators, while also maintaining the flexibility to account for the ongoing evolution of the digital assets market.”
https://dailyhodl.com/2022/08/04/bitcoin-btc-and-ethereum-eth-to-be-policed-by-cftc-under-new-us-senate-proposal-report/
Durrrrr......... really?
Eth will flip btc. The XRP will flip all. The dollar is gone thanks to a fake Biden administration/govt.
#2 isn't a bad place to be sitting, even if ETH stays at 20% of BTC's value.
Let BTC finally hit 100k, I'll take $20,000 ETH all day
Doubt it also. I see Ethereum being worth about 10% of Bitcoin, even at higher prices.
$ETHUSD
I don't see ETH sniffing #1 any time soon, not until there is an actual deflationary system put in place... Staking will just continue to deflate value as interest rewards are paid out and new ETH is generated to accomplish this.
All POS blockchains endlessly increase coin supply in circulation.
This is why POS systems are so desirable for the banks. The one with the most ETH makes the rules.
If there is a POS network that doesn't endlessly increase coin supply to account for interest rewards, please do tell. I would be very interested in taking a deep DD dive into it!
Ethereum roaring right back!
It was only a matter of time. Staking is just around the corner.
$ETHUSD
Hey Panzer, thanks for the response. Paytiently waiting here.
Not Yet......
Serious Crypto investors still see BTC as Digital Gold and ETH as a "system" or a Digital Bond
After ALL this merging and forking, shadow forking and 99% more "green" crap is complete and settles in, we'll see if ETH can maybe begin to think about sniffing the #1 spot
This is Fun! Go Flippers! $ETHE $ETH Premium World Computer Ape Strong!
Liking the price action here... I chuckle when I see "scam" claims from those who don't understand or trade cryptos..
$ETH
She's going to $400. Eventually. Bottom, level out, shake the weak hands..flatline for a few years, maybe do 15min drops to $300 maybe little spikes to $500. Buy then kids. Look at its history since inception. F*$# the culture.
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