Pro traders curb their enthusiasm until Ethereum confirms $3,400 as support
ETH price has shown a strong recovery since bottoming at $2,500, but derivatives data suggests pro traders are moving with caution. Ether (ETH) price jumped 11% between March 26 and March 29 to reach $3,480, which is the highest level in 82 days. Currently, the price is down 9% year-to-date but does data support the belief that the altcoin has resumed its uptrend toward a new all-time high? Institutional investors seem excited that the CoinShares Digital Asset Fund Flows Weekly Report revealed on Tuesday that the exchange-listed crypto products inflows reached the highest level in three....
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Genesis Digital, a leading cryptocurrency trading, lending, and custody desk, released its Q2 reports, where it confirms what it calls the “emerging role” that Ethereum and defi have in the industry. The report also confirms that institutional interest in crypto is still rising despite the crash in prices the market experienced in Q2 2021. Genesis Confirms Ethereum and Defi Market Rise Genesis, a big cryptocurrency lending and trading desk, has confirmed that emergent currencies like Ethereum and defi tokens have taken a relevant part of the market, according to its Q2 2021....
Ethereum spent the summer months easily outperforming Bitcoin, but that trend reversed as soon as the fall months hit. The change in tune towards the DeFi trend helped take the second-ranked cryptocurrency down to retest resistance turned support. The bullish retest has since held, and it could take the altcoin back to retest highs on […]
Ethereum is feeling the pressure this early, with trading volume at the receiving end and impacting the price of ETH. A major event in the crypto industry, The Merge is eagerly anticipated by many. By combining with the Beacon Chain, Ethereum will implement a system based on proof-of-stake. This system will significantly reduce Ether’s energy consumption. Despite the Merge’s promises of a new tomorrow for Ethereum, investors continue to have poor faith in the currency. The price of ETH plummeted significantly below the $1,500 support line on August 28 and has been stuck in that....
Concerns are growing that the People’s Bank of China, hereinafter PBoC, may seek to curb LocalBitcoins use after the platform became the go-to replacement for the country’s Bitcoin traders. When major Chinese exchanges halted Bitcoin withdrawals due to regulatory concerns, investors moved en masse to the peer-to-peer marketplace, causing record trading volumes the week ending Feb. 11. Now, LocalBitcoins staff have taken to Reddit to curb fears that the site may become the PBoC’s next target. Adding to the unease is a decision by fellow marketplace BitKan to abide by the bank’s mandates.....
There's a lot of money to be made in and around maturing Ethereum-centric markets, where a "bear market" means prices double.