3 reasons Ethereum's momentum is only accelerating as ETH nears $600
Ether price has surged above $580 in recent days, but the impending release of Ethereum 2.0 isn't the only catalyst driving the current rally. Alongside the high anticipation for Ethereum 2.0, the high time frame breakout and daily gas usage on Ethereum remain key positive factors.Eth2 momentum accelerates in correlation with priceThe Eth2 mainnet will launch when the number of Ether (ETH) staked in the Eth2 deposit contract address hits 524,288.Data from CryptoQuant found that the value staked in the Eth2 deposit contract address is showing a correlation with the ETH price.ETH price....
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Ether has been outperforming Bitcoin in the last few weeks as Ethereum's momentum strengthens. The price of Ether (ETH), the native cryptocurrency of the Ethereum blockchain network, has been soaring since the beginning of the new year. What's more, it has outperformed Bitcoin (BTC) since Jan. 1, gaining roughly 81% compared to Bitcoin's 26% in their respective USD pairs year-to-date.Bitcoin, Ether YTD performance. Source: Digital Assets DataThere are three main reasons why ETH has been outpacing BTC throughout the past several days. The factors are Ethereum’s accelerating growth, the....
Yearn.finance’s YFI governance token has been facing a relentless selloff throughout the past few days and weeks, with its bulls unable to garner any momentum. There are many reasons why it has been struck so hard despite bullishness seen by Bitcoin and the rest of the crypto market, but this latest selloff has come about […]
Bitcoin is nearing a psychological tipping point, gold parity. Its price has been accelerating in the past few days, increasing by $100 in just over 24 hours. Meanwhile, gold has fallen by $200 this quarter, currently standing at $1,134.45. Gold’s Price This Quarter. There appears to be a strong inverse correlation between gold and bitcoin from September to now, with bitcoin gaining $300 while gold has lost $200. The reasons for this inverse correlation are not fully clear. Bitcoin’s Price on Bitstamp. Gold usually performs well in times of uncertainty, as is often the case with bitcoin,....
Ethereum’s price has been closely tracking that of Bitcoin as of late, which has caused the cryptocurrency to see some notable losses It has been defending $500 throughout the course of its recent push lower. This comes as Bitcoin breaks below $17,000 and begins seeing accelerating downwards momentum If $500 becomes a strong base of support for ETH, it could help propel the cryptocurrency significantly higher in the days and weeks ahead A sustained decline […]
Ethereum’s new fee burn mechanism is almost at its one-week mark. Burn rate has now grown to a rate of 3.88 ETH in the past 24 hours. So far, over 27,000 ETH has been burned from fees. Taking over $87 million out of circulation. The plan was to reduce the amount of new ETH being […]