ETH price loses ground, but network metrics say DeFi season not over yet
A look into the fundamentals of the Ethereum network — is the top altcoin losing momentum? Ether has dropped around 30% from its 2020 high of $482 on Sept. 1 to $340 in five days. The drop in the price of Ether (ETH) and Bitcoin (BTC) was largely due to the rising dollar, which has stopped Bitcoin’s bull run in its tracks. Ether is still sitting at around $340, failing to recover its price ranges of August.As the price of Ether dropped significantly from the start of the month, several fundamental factors on the Ethereum network itself have changed. These include the movements and....
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Altcoins have been on a real tear for months, but Jarvis Labs analyst Ben Lilly says we’re not in an "alt season" just yet. Few traders would argue against the fact that Bitcoin (BTC) is in a bull market, but there is less consensus on whether the market is in the midst of an "altcoin season." A quick view of Crypto Twitter shows the schism between traders who are certain we are halfway through alt season and those who believe it has yet to begin.Typically, traders rely on a wide swath of indicators and metrics, like Bitcoin’s total market capitalization versus the total altcoin market....
Social media metrics offer insights into the on-the-ground adoption of a cryptocurrency project and the interests of the average cryptocurrency investor. One project that has seen a recent significant increase in various social media metrics, including mentions, engagements, and average daily social contributions, is Fantom. A rapidly growing layer-1 smart contract platform, Fantom utilizes a directed acyclic graph architecture to achieve unparalleled speed and scalability. According to data from LunarCrush, over the month of August, the social media mentions for Fantom saw an impressive....
Cardano (ADA) has faced a significant blow after losing its top position as the leading network for development activities. Despite the Cardano founder, Charles Hoskinson, lauding major updates and developments within the blockchain network, ADA has been overtaken by other crypto networks, pushing it down to fifth place. ADA Loses Top Spot For Network Development […]
Bitcoin’s price was close to $16,000 Friday but lost momentum while ether locked in DeFi is on a downward trend.
Momentum around XRP may be entering a new phase as emerging on-chain data shows a growing activity within its broader ecosystem. Recent metrics from Flare, a network designed to bring smart contract functionality and DeFi capabilities to assets like XRP, suggest that decentralized finance participation tied to the network could be gaining traction. What The […]