Last week, Uniswap launched its UNI token and set the crypto market ablaze with renewed interest in the DeFi project. The 400 free tokens essentially acted as a stimulus check, and as investors rushed to cash their “checks,” it brought Ethereum fees sky-high to a record nearly $1 million in a single hour. What does…
Ethereum is looking to fall towards $200 after breaking a multi-week support level this Monday. The price floor was a part of a Bear Flag pattern. In retrospect, Bear Flag appears as an asset consolidates in an upward channel following a robust directional move down. The price eventually breaks below the Channel’s lower trendline, a…
Ethereum’s decentralized finance space has seen parabolic growth since the start of 2020. In the past nine months, the value of coins locked in DeFi contracts has surged from around $500 million to $10 billion — a statistic that may actually undershoot true values. Simultaneously, tokens pertaining to the DeFi space have seen a strong…
While legacy markets and Bitcoin have rejected from local highs, Ethereum has been holding up well. Since the launch of Uniswap’s UNI token, the price of the leading cryptocurrency has surged around 6-7%. From the lows set earlier this month, the coin is up in excess of 20%, shocking some commentators who thought this market…
Ethereum has been at the center of some of the largest developments within the crypto market throughout the past several weeks and months. Nearly the entire DeFi ecosystem is built upon the Ethereum blockchain, which has driven massive demand for blockspace on the network. This has caused gas fees to rocket to all-time highs, with…
Overnight, crypto Twitter exploded in chatter about what is essentially free money. Liquidity swap platform Uniswap that’s recently enjoyed enormous growth rewarded early users with a distribution share of UNI tokens. The price per token quickly rose, essentially turning the UNI distro into the crypto industry version of the stimulus check. How Uniswap Is Stealing…
Ethereum has been seeing some intense selling pressure over the past few days, which has likely come about due to the trend reversal seen amongst DeFi tokens. Because the DeFi market is essentially built on top of Ethereum, the ETH token has been heavily influenced by the expansion of this sector. That being said, as…
Ethereum has seen some slight weakness throughout the past couple of days. This has come about despite the intense strength that Bitcoin has displayed, signaling that the resistance ETH faces between $380 and $400 may be insurmountable. Although ETH has yet to post any sort of technical breakout, it remains a strong likelihood that the…
Ethereum has seen a strong rebound from its recent lows today, with its ongoing upswing coming about in tandem with the immense technical strength seen by Bitcoin. The aggregated cryptocurrency market is trending higher today, which is partially being driven by Bitcoin’s strong weekly candle close and the ongoing upswing seen in the stock market.…
Earlier this week, Ethereum plunged as low as $310-315 as legacy markets tumbled, dragging crypto lower. The cryptocurrency has since undergone an extremely strong bounce, recovering 25% to the $389 level where ETH sits at now. Analysts are eyeing $392 as a level for the cryptocurrency. One says that if that level is confirmed as…