Merge Effects Continue As Ethereum Futures Prices Fall To All-Time Lows
The effects of the upcoming Ethereum Merge on the crypto market have been very obvious. It has affected not just the price of ETH but the prices of other digital assets in the space, triggering a run-up that has brought them towards monthly highs. The effects have not ended at the spot market ,though. Data […]
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Bitcoin reversed below $20,000 once more after the sell-offs that followed the completion of the Ethereum Merge. With the decline, the digital asset had revisited lows not seen in three months, giving credence to the bears during this time. However, one problem remains, and that is the fact that the cryptocurrency has been unable to find suitable support, causing the downtrend to continue. Bitcoin Price Falls To Range Lows Over the last week, bitcoin has seen multiple declines in its price. The Ethereum Merge had turned into a “buy the rumor” event which led to massive accumulation across....
Backwardation reflects a market condition wherein spot prices trade higher than future prices. Ether (ETH) bulls like a positive spread between its spot and ETH futures prices because the so-called contango reflects optimism about a higher rate in the future. But as of Aug. 1, the Ethereum futures curve slid in the opposite direction.Ethereum quarterly futures in backwardationOn the daily chart, Ethereum futures quarterly contracts, scheduled to expire in December 2022, have slipped into backwardation, a condition opposite to contango, wherein the futures price becomes lower than the spot....
The Ethereum upgrade has shifted the network from Proof-of-Work (PoW) to Proof-of-Stake (PoS). The Ethereum mainnet and the Beacon Chain will finally merge as a single blockchain through the transition. According to the estimations of EtherNodes, the Ethereum transition will occur if there are no underlying technical challenges. Before now, the team of developers confirmed the checklist for the Merge before releasing it. Related Reading: Investor Sentiment Sees Sharp Positive Spike Following Crypto Market Recovery There have been several sentiments and reactions concerning the Merge....
Before the Ethereum merge event, some experts and investors predicted a fall in the price of Ethereum and hence traded cautiously. Popular analysts referred to the merge hype as a buy the rumor, sell the news scenario. The Feds reserves tightening and other market factors added to the volatility recorded in the valuations of ETH, BTC, and other Altcoins. After the merge event, analysts’ predictions proved right as the ETH price crashed below the support level. As a result, several ETH investments got withdrawn, and a few additions were recorded after the merge. Related Reading: ETH....
The second-largest cryptocurrency by market cap, Ethereum, has soared 45 percent during the past week, outperforming the majority of other betable assets. There could be a simple explanation for this: As Ethereum’s team of developers approaches the conclusion of a multiyear, extremely difficult upgrade, traders are shifting positive. Ethereum Surge The second-largest cryptocurrency by market cap, Ethereum, has surged by about 45% over the past week, outperforming the majority of the top 100 crypto assets. While there are many theories surrounding ETH’s bullish trend, one of the....