Author: NBTC
On-chain data suggests an Ethereum close under the $1,530 level could lead to a significant drawdown for the cryptocurrency. Ethereum Support Levels Below $1,530 Are Very Thin Currently In a new post on X, analyst Ali has discussed what the support and resistance levels of Ethereum are looking like right now. These support and resistance levels aren’t the technical ones, however, but rather ones based on on-chain analysis. The support and resistance levels here are defined based on the density of investors’ cost bases. The “cost basis” here refers to the average price at which an investor acquires their coins…
Ethereum is the second-largest crypto in terms of market cap and the first blockchain-based smart contract to undergo a historic transformation from an energy-intensive mechanism of proof of work (PoW) to a more eco-friendly consensus mechanism of proof of stake (PoS). PoS fundamentals have transformed the roles and responsibilities of Ethereum, which was once utilized to reward ETH miners and can now be staked. It follows a two-tiered staking system, where node operators and delegators have emerged as central figures. Vitalik Buterin, the founder of Ethereum, suggested the two-tiered staking model that includes a high-complexity slashable tier with limited participants…
In the history of events associated with digital assets, Bitcoin halving has turned out to be one of the most pivotal events that have speedily gained traction. Simply put, Bitcoin’s halving has sparked the interest of every individual pertinent to Bitcoin, the leading cryptocurrency in the world. This exclusive event, in general, comes to pass in almost 4 years and is of paramount importance for the Bitcoin community members. This ultimate guide aims to familiarize readers with Bitcoin halving and bring its key facts and potential impacts into light so that they can navigate the alluring yet intricate world of…
Ethereum (ETH) has maintained its spot as a leading altcoin. However, a recent analysis from Benjamin Cowen indicates that its journey, at least in comparison to Bitcoin (BTC), could have followed a better trajectory. In a space where past trends can sometimes indicate future outcomes, ETH’s price behavior, when viewed against BTC, offers a tale of potential concern. Ethereum Stumbling Blocks In 2023 A leading voice in the crypto analytical community, Benjamin Cowen, expressed his lack of enthusiasm for ETH’s performance in 2023 during a YouTube video. The ETH / BTC valuation, a critical metric for gauging relative performance, is…
The Metaverse has opened up new horizons throughout numerous sectors, together with healthcare. The Metaverse healthcare market is on a trajectory to achieve a valuation of $70 billion by 2028, bolstered by a number of underlying components. This text sheds gentle on the vital dynamics propelling this upward pattern. Growing Adoption of Combined Actuality Options The wedding of Mixed Reality (MR) solutions with healthcare functions is a big driver behind the market progress. MR, embodying each digital actuality (VR) and augmented actuality (AR), facilitates a spectrum of functions from surgical planning to affected person schooling. By superimposing digital data onto…
On-chain data shows Ethereum whales have sold around 12 million in the cryptocurrency within the past year and have shown no signs of slowing down. Ethereum Whale Holdings Have Been In Constant Downtrend Since 2020 In a new post on X, analyst James V. Straten has discussed how the Bitcoin and Ethereum whales have shown some stark contrast in their behavior. Here is the chart that the analyst has shared, which compares the trends in the holdings of these humongous holders for the two assets over their entire history: How the holdings of the whales differ between the two cryptocurrencies…
Ethereum prices might be stagnant at spot rates, weaving around the $1,540 and $1,560 zone, looking at technical charts. However, amid this period of consolidation and holders worrying about Ethereum’s prospects, Kaiko notes that the coin’s open interest has been gradually rising since September 2023. Ethereum Open Interest Rising: What Does It Mean? As of October 10, Kaiko observes that there are more than 2.2 million contracts, and the number has been rising steadily over the past few trading weeks. With increasing open interest, it can hint that bulls are in the equation, which may support prices now that prices are under…
The Ethereum price saw a notable price plunge on Monday when the Ethereum Foundation reportedly started selling coins. This plunge, in turn, triggered a series of liquidation events that have seen ETH traders suffer massive losses in the last day. Ethereum Liquidation Volumes Cross $30 Million. By Tuesday, October 10, the Ethereum liquidation numbers triggered by the price crash ramped up quickly to cross the $32 million market. As expected, long traders suffered the majority of the losses with Coinglass data pointing to 87.61% of all ETH liquidation volumes coming from long traders. This meant that of the over $32…
Bitcoin analysts eagerly scrutinize the charts as November approaches, hoping to gain insights from past cycles. Historically, November has always been significant for the cryptocurrency market, as BTC usually gains value, affecting other coins. According to crypto analyst Miles Deutscher, November promises to be a pivotal month for Bitcoin enthusiasts and investors. Bitcoin’s Ongoing Sideways Trend Hints At Potential Bullish Shift In November Market experts suggest that Bitcoin’s stagnant price movement might transition to a bullish trend in November. According to them, this could occur if it behaves similarly to past cycles before a halving event. For instance, on October…
The price of Ethereum has experienced a notable decline following a major Ether sale this week. The unexpected decrease has left the crypto community anxious about the stability of the world’s second-largest cryptocurrency and the long-term effects of the decline. Ethereum Price Drops After Large-Scale Ether Swap On Monday, October 9, the price of Ethereum declined following an extensive Ether swap by the Ethereum Foundation, a non-profit community-run organization dedicated to enabling better human coordination. The Ether transaction which took place on Uniswap, a decentralized crypto exchange platform, saw the ETH price drop 5% from its daily high of $1,635…