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The cryptocurrency market saw a spectacular change this month. This noteworthy development saw Ethereum, the second-largest cryptocurrency by market cap, moving ahead in stealth mode, carving its path after staying sluggish for months. ETH has noted a massive price jump this July, fueling new hope and enthusiasm for ETH bulls to bank on. With increased investor and institutional interest, will ETH continue to surge higher in August? If yes, how high can it truly go? Let’s find out. Also Read: Ethereum’s 10-Year Anniversary: Price Forecast for Next 10 Years Ethereum: The Latest Star of the Market Source: Watcher Guru Ethereum is currently leading the crypto market evolution as of now. Per the latest CoinMarketCap data, ETH is currently trading at $3861, up 57% in the last month. The token has gained a tremendous leap, breaking away from resistance prevalent at various $2K+ price levels. $ETH went up 55% in July. This has been by far its best monthly performance in 3 years. pic.twit...

Even though the SEC approved ETH-based ETFs this year, Ethereum (ETH) has had trouble gaining traction. The ETH ETFs did not receive the same level of excitement as the Bitcoin (BTC) ETFs, which helped push the price of BTC to a new all-time high earlier this year. ETH is down 1.2% in the daily charts, 7% in the weekly charts, and 8% in the 14-day charts. However, it has maintained some gains in the monthly and yearly charts, rallying 0.7% and 29.3%, respectively. Source: CoinGecko While ETH may have had a rough year in 2024, the asset might be on its way to a new all-time high. Also Read: BRICS: Shipping Firm Pays $8 Billion in Chinese Yuan, Ditch US Dollar Analyst Predicts Ethereum May Hit $10,000 According to prominent cryptocurrency analyst Ali Martinez, ETH’s movements mimic the S&P 500. The analyst anticipates the current dip to be the last one before the asset’s price triples and hits $10,000. Hitting $10,000 from current price levels will entail a rally of about...

Binance Labs, the venture capital arm of Binance, has invested in Renzo. Renzo is a Liquid Restaking Token (LRT) and Strategy Manager for Ethereum restaking protocol EigenLayer. Binance ’s venture capital arm has announced it invested in Renzo, a Liquid Restaking Token (LRT) and Strategy Manager for EigenLayer. Binance Labs’ announcement that it invested in Renzo comes on the same day as news of venture capital firm a16z’ $100 million investment in EigenLayer. EigenLayer is an Ethereum restaking protocol with a TVL of of $7.8 billion as of February 22, 2024. Read more: a16z invests $100 million in Ethereum restaking protocol EigenLayer . Binance Labs seeks to boost Liquid Restaking space Renzo Protocol is the liquid restaking hub for EigenLayer, with its technology key to the trustless collaboration between various ecosystem players on EigenLayer. Binance Labs seeks to help stakers, node operators and Actively Validated Services (AVS) ...

TLDR Ethereum’s (ETH) recent on-chain activity could indicate a rally. Tron (TRX) aims to scale its stablecoin activity to the Bitcoin ecosystem in 2024.  NuggetRush (NUGX) dominates the presale race after raising over $2.3 million. Gas fees on Ethereum ( ETH ) have risen to an 8-month high amid the recent market rally. Tron (TRX) will soon launch a layer-2 network for the Bitcoin ecosystem. NuggetRush (NUGX) has surpassed investor expectations to raise over $2.3 million by round five of its presale. It has sold over 186 million NUGX tokens, outperforming several new ICOs. Yet, is NuggetRush (NUGX) a match for Ethereum and Tron? Let’s hear what investors think. >> Buy NuggetRush Now << Ethereum Surges as its Gas Fees Rise to an 8-Month High Ethereum is leading other top altcoins in a February market rally. On-chain data has revealed a significant jump in Ethereum’s ( ETH ) gas fees, pushing it to an 8-month high. Despite...

Barring the brief “Uptober” pump, the price of Ethereum has been consistently dipping. From a high of $1751, the asset’s value dropped to $1606 a day ago. Owing to the volatility in the Ether market, numerous positions in the derivatives market got liquidated. Data from Coinglass revealed that more than $11 million worth ETH positions had been wiped out over the past 24-hours. Around 80% of them were long trades [bullish bets]. Ethereum Liquidations | Source: Coinglass Also Read: Ethereum Transaction Cost Drops to $1 In fact, on the macro market cap rankings front, Ethereum slipped by 6 positions to occupy the 58th rank. Even so, it managed to stay significantly higher than McDonald’s. ETH and McDonald’s have always been quite competitive on the valuation front. They have flipped each other several times over the past year. At press time, there was a $12.1 billion gap between the market cap of Ethereum and McDonald’s. Ethereum vs. McDona...

A wallet linked to Vitalik Buterin deposited around 400 ETH on Coinbase a couple of hours ago. At the press time price of $1579.46, the value of the transferred Ether summed up to $631,840. The exact reason behind the latest transfer remained unknown. According to on-chain data from Etherscan, the “Vb 2” wallet transferred ETH to another address, which subsequently transferred the ETH to Coinbase. Chinese journalist Colin Wu pointed out that in the past 7 days, the Ethereum Co-Founder transferred 300 ETH to Kraken, and 200 ETH was converted to USDC. Source: Etherscan Also Read: Ethereum Drops to 14 Month Low Against Bitcoin: Dominance Dips to 18% At press time, the wallet had a balance of 0.00021 ETH , worth a meager $0.34. Apart from Ether, this address had no other token holding. Contrarily, the address labeled “Vb 2” had more than 201 tokens in possession, worth $191,210, while the Ethereum balance stood over $2.7 million. Around a month ago, the ETH...

A Drop Below $1500 On ETH Price? These back-to-back transfers have ignited discussions about potential market implications and the motives behind these substantial movements. Also, concerns have arisen that heightened whale activity might exert downward pressure on the price of ETH , possibly leading it to breach the $1,500 level. Presently, the ETH coin price is trading at $1,647.75, experiencing a minor drop of less than 1% over the last 24 hours. Its market capitalization of $198.05 billion. advertisement Even though the above data signals that Whales are getting rid of their ETH holdings, an interesting trend emerged during the recent market downturn. While smaller traders were offloading their holdings, prominent players within the crypto landscape were seen accumulating ETH . This accumulation has led to an increased concentration of ETH supply, with the top 10 addresses now controlling more than 35% of the total supply. However, this elevated concentra...

A whale recently sold 10,600 Ether worth $17.2 million. Even though the whale has an overall profit of $10.8 million on ETH , he suffered a $2.9 million loss on the latest transaction. Lookonchain pointed out that the whale’s success rate was 22%. Out of the 18 tokens traded, merely four fetched him positive ROIs. He lost nearly $5 million by trading two other tokens. A whale dumped 10,600 $ETH($17.2M) at a price of $1,622 7 hrs ago, with a loss of $2.9M. The whale traded a total of 18 tokens, and only 4 tokens were profitable, with a win rate of 22%. He currently has a profit of $10.8M on $ETH, but lost $3.6M on $PDT and $1.3M on $MPL. pic.twitter.com/GzPl8WyHx6 — Lookonchain (@lookonchain) August 23, 2023 When it comes to Ethereum, why is the whale selling instead of accumulating? Is he sensing a price dip? In this article, we will delve into the market conditions and analyze what to expect from ETH going forward. Also Read: Ethereum is Down 30% Against Bitco...

Bitcoin price is also slightly in the green with 0.5% in accrued gains over the last 24 hours and doddering at $30,660. As analyzed earlier, BTC is poised for a massive breakout to $35,000 and $38,000, but first, the resistance between $31,000 and $32,000 must come out of the way. advertisement Ethereum boasts approximately $8 billion in its 24-hour trading volume and a market cap of $234 billion. Its immediate downside is protected by the recently reclaimed ascending trendline support, but if declines intensify, it would be prudent for investors to anticipate a minor and brief retracement to stronger support at $1,800 and $1,650, respectively. How Will Investors React To Ethereum Price Lifting Above $2,000? The sudden interest in the crypto market by institutional investors like Blackrock, Fidelity Investments, and Cathie Wood was a substantial boost for the crypto market in June. Blackrock’s decision to apply for a spot Bitcoin ETF has, within a few week...