There has been a boom in demand for Ethereum in recent times, with much of this stemming from the explosive growth of the DeFi sector.Although this demand has yet to result in any type of bullish price action, it does appear that its growing utility is bolstering its macro outlook.That being said, the explosive rise…
The number of daily transactions on the Ethereum blockchain network surpassed 1 million, a level unseen since January 2018.In recent months, network activity on Ethereum surged as a result of rising demand for decentralized finance (DeFi) applications and growing anticipation towards ETH 2.0.Why is Ethereum Daily Transaction Volume Climbing So Rapidly?Since January 2020, within six…
Ethereum is up around 2% and it broke the $232 resistance against the US Dollar. ETH has likely moved into a positive zone and it could continue to rise towards $240 or even $250.Ethereum is slowly gaining bullish momentum above the $232 resistanceThe price tested the $235 resistance and trading well above the 100 hourly…
Ethereum is recovering from the $225 support against the US Dollar. ETH price is now trading near the $230 level ad it seems like there are chances of more gains if it breaks the 100 SMA (H4).ETH price is slowly gathering pace from the key $225 support area against the US Dollar.It is now approaching…
Ethereum has now pushed below the lower boundary of its long-held trading range that has been formed throughout the past several weeksThis weakness has come about as Bitcoin also inches lowerBoth of these digital assets have been maintaining above these levels over the past several weeks, and a firm decline beneath them would be grimOne…
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The past few days and weeks have seen Ethereum’s decentralized finance ecosystem erupt higher.As Camila Russo, a former Bloomberg journalist turned Ethereum publicist, accentuated this when she noted on June 19th that the past week has seen the value of tokens locked in DeFi applications surge by 40% to $1.4 billion.Some are skeptical that the…
Ethereum’s utility has seen an explosive rise over the past couple of years. Throughout late-2017 and most of 2018, the blockchain’s utility was primarily rooted in the ICO mania that plagued the cryptocurrency market.This shifted in late-2018, however, as a regulatory crackdown on ICOs across the globe largely put an end to the trend.Throughout 2019,…
Ethereum is declining steadily below the $235 resistance zone against the US Dollar. It seems like ETH could decline heavily if it breaks the $225 support zone in the near term.Ethereum is trading in a bearish zone below $232 and the 100 hourly simple moving average.The price is slowly declining towards the key $225 support…
Ethereum has been flashing some signs of tempered weakness throughout the past several days and weeks, hovering just above the lower boundary of its long-held consolidation channel.The cryptocurrency’s present weakness is primarily rooted in that of Bitcoin, which has seen faltering momentum as it continues struggling to break above the key psychological resistance existing at…