Ethereum

Ethereum is trading at $2,330.60, following a massive rally that has seen its price increase by 28.44% a few days ago. Generally, ETH signaled bullish sentiments, but the bulls must have sufficient momentum to reach the $2390 to test the $2400 mark.  A close above the $2,400 level could set the pace for more gains. The next significant barrier for the bulls could be near the $2,500 level, followed by $2,520. Any more upsides might call for a $2,600 resistance…

Ethereum, the second-largest crypto by market cap, has recently been retracing, with the coin's price standing at around $2,171 as of writing this report. This price action comes after a long bear pattern that scared away many investors, leaving many to think the asset could continue tanking. Instead, the primary cause of this bullish move was Elon Musk's influence. Ethereum's Retracement The buying pressure of Ethereum increased on Thursday by a tremendous rate, with investor confidence being high in many…

Tech billionaire and Tesla CEO Elon Musk gave ETH bull the impetus they needed to surmount the $2K hurdle by revealing that he holds large amounts of the altcoin. He also confirmed that he personally owns bitcoin and Dogecoin. Musk was speaking at the B-Word cryptocurrency conference held on July 21, which featured other big names such as Twitter CEO Jack Dorsey and ARK Investment founder Cathie Wood. The Crypto Council established the forum for Innovation to help demystify bitcoin…

The price of Ethereum has jumped to a fortnight high as its London Upgrade later this month draws close. This upgrade will introduce the highly anticipated EIP-1559 aimed at reducing gas costs on the Ethereum network. The London upgrade will be deployed to the mainnet after its successful release to Ropsten, Goerli, and Rinkeby testnets. The Rinkeby testnet release is scheduled to come before the end of this week. After regaining the critically important $2,000 level, the Ethereum price has…

Fireblocks, a crypto custody firm, is facing a lawsuit from Stakehound over the lost access to more than $70 million worth of Ethereum, according to Calcalist. Stakehound reportedly entrusted the company in question with the safekeeping of wallets' private keys totaling 38,178 ETH. Clearly, the Israeli-based company did not do a good job in securing them. Who is at Fault? From the Tel Aviv District Court lawsuit, Fireblocks lost the private keys due to an employee's human error. However, the…

One crypto critic, New York University's Aswath Damodaran, thinks Ether has a better chance of becoming a commodity in a possible blockchain-based future than Bitcoin. The NYU professor argued that Ethereum's upside potential outweighs Bitcoin's potential in a possible future paradigm dominated by blockchain-based technology. Inefficient Currency According to Damodaran, ETH will outshine BTC as a better lubricant for blockchain commerce. As for Bitcoin, the professor noted that the popular crypto was a speculative play. He added that bitcoin bulls…

ETH and other top cryptocurrencies have suffered heavy losses over the past few days following Elon Musk's decision to suspend customers' use of bitcoin to purchase Tesla automobiles.  Ether is trading just above $3,500 as of this article's writing, marking a significant decline from its recent lifetime high of $4,362 seen earlier this month.  The crypto tracking website CoinMarketCap shows that the ETH price is down over 10% in the weekly chart. However, according to John Kramer, crypto investors have…

Version 3.0 of Uniswap, an update that will render the automated market manufacturer far more appealing to cryptocurrency investors, is now live. The Uniswap protocol company announced version 3 in late March and has now been deployed into an Automatic Market Maker (AMM) amid an Ether crypto-bull run to all-time highs. ETH is the second-largest cryptocurrency and Ethereum's native token, where DeFi was born and is still thriving. Currently, the decentralized exchange, which got launched in Ethereum at the end…

More than $5 billion has been staked in the Ethereum 2.0 smart deposit contract. This surge in deposits makes Ethereum 2.0 the third-largest staking network.  Ethereum 2.0 continues to attract Stakers Ethereum 2.0 smart deposit contract has continued to receive deposits despite hitting the minimum mark to launch. According to data from the launchpad dashboard, the amount of ETH currently staked is 3 million ETH. This represents about 2.8% of the total supply and is valued at $5.2 billion.  This…