Ethereum (ETH) Could Potentially Reach $2,000 Again in the Coming Month, Says Santiment
Ethereum (ETH) remains the second-largest digital asset by market capitalization, despite trading below $1,900 per unit. Santiment predicts a bullish upturn for ETH, potentially pushing it back to the coveted $2,000 territory in the coming month. Santiment suggests that Ethereum is benefiting from patient investors who see long-term potential in the asset, despite recent lackluster market performance. The analysts project a potential climb back above the $2,000 range for Ethereum in the near future, fueled by positive indicators such as low exchange balance and atypical calm within the Ethereum community.
Delayed BLUR Token Airdrop Commences for Ethereum NFT Traders
Blur, a major player in the NFT marketplace, is starting the distribution of its postponed BLUR token airdrop today to show appreciation to Ethereum NFT traders. The platform had committed to providing token rewards to traders since its launch in October.
Over $23M Stolen From Alphapo’s Hot Wallets in ETH, TRON, and BTC
According to a tweet from on-chain sleuth ZachXBT，Earlier today Alphapo hot wallets were drained for $23M+ on ETH, TRON, BTC.HypeDrop (Alphapo customer) has since had withdrawals disabled.On Ethereum the stolen funds were swapped for ETH then bridged to Avalanche and Bitcoin.
Data: In the Past Week, NFT Transaction Volume Exceeded 113 Million US Dollars, a Month-on-Month Decrease of 23%
CryptoSlam data shows that in the past week, approximately 464,900 buyers spent more than US$113.5 million on NFT, and the NFT transaction volume decreased by 23% compared with last week; the entire network NFT transaction volume was about 2.2 million, a month-on-month decrease of 1%; among them, the Ethereum chain ranked first with a transaction volume of US$72.7 million, and the Bitcoin chain ranked second with a transaction volume of US$9 million; the transaction volume ranked in the top five The top ones are Gods Unchained Cards ($4.7 million), DMarket ($4.5 million), BAYC ($4.2 million), CryptoPunks ($4.1 million), and Uncategorized Ordinals ($3.2 million).
Dimension X NFT Collection Launching on Ethereum for Corresponding RPG Game
Dimension X, a Chainwire NFT collection, has announced that it will launch on Ethereum on August 8th. The digital cards can be used in a corresponding RPG game where players can use NFT heroes to fight villains and monsters.
Crypto Markets Experience Mild Bull Activity as Bitcoin Approaches $30K
The global market cap has seen a 0.5% increase, with Bitcoin experiencing some bull activity and approaching a break back above $30K. However, Bitcoin trade volume has dropped by 31% during the same period. Ethereum has started the week slow with low volatility levels, indicating a likely bearish trend as bears push for market dominance. Dogecoin is having a good session with gains of 1.4% and increasing trading volume, while Stellar is also trading positively with increasing volatility levels. Chainlink is making slight gains, while Augur sees an 8% drop within a day of trade.
NFT Trading Volume Declines in Q2, Ethereum Dominance Temporarily Affected, Solana Takes Major Hit
The NFT market experienced a decline in trading volume of 35% from Q1 to Q2, which can be attributed to factors such as market saturation, changing investor sentiment, and regulatory uncertainties. Ethereum remained the dominant platform for NFT trading, capturing 83% of the volume in Q2, but experienced a temporary setback in May due to the rising popularity of Bitcoin Ordinals. Solana saw the most significant decline in trading volume during Q2, mainly driven by the migration of two major collections to other networks. Despite short-term fluctuations, the long-term potential of NFTs remains promising as they continue to find utility in various industries.
Crypto Analytics Firm IntoTheBlock Updates Outlook on Chainlink After Strong Recovery
Crypto analytics firm IntoTheBlock has revised its outlook on Chainlink (LINK) following the blockchain oracle's strong recovery in just one month. With LINK's more than 50% surge since June, the least number of Chainlink holders are seeing losses this year. According to IntoTheBlock, LINK has more room to run with the next likely price resistance level at $10, a more than 22% increase from its current value. However, the firm warns that LINK may dip if some investors start taking profits. Additionally, IntoTheBlock highlights that Ethereum (ETH) has seen the largest recorded amount of ETH moved onto centralized exchanges (CEXs) in the last two months, which could indicate increased selling of the second largest digital asset by market cap.
Argentinian Law School Proposes NFTs for Unique Plant Varieties on Ethereum Blockchain
Academics from the Intellectual Property Centre Law School of Austral University in Argentina have proposed a system that uses smart contracts and NFTs to enforce ownership of unique plant varieties. The system would allow farmers to register their non-fungible plant varieties with an Ethereum smart contract system, minting an ERC-721 token for each seed collected, and then sell the NFTs via MetaMask. While some critics argue that democratizing access to these assets could undermine the system, others suggest that scarcity may only make sense for digital artifacts. The author, David, is an Editor based in The Netherlands who focuses on data-driven journalism and is passionate about permissionless and decentralized networks.
Account Abstraction and ERC-4337 in the Spotlight After Paris Conference
The recent Ethereum Community Conference in Paris has sparked discussions about the new Ethereum upgrade, ERC-4337, which enables account abstraction. This feature simplifies the use and ownership of wallets, allowing users to log in with their email, Google account, or phone number. The goal of this upgrade is to make the cryptocurrency experience more user-friendly and to abstract away the complexities of crypto wallets. The industry is currently in a race to create successful and seamless user experiences, with the next phase of innovation predicted to involve paying for gas with tokens.
Crypto Whales Transfer Over $640 Million in Bitcoin, Ethereum, Solana, Shiba Inu, and Chainlink
Whale Alert has reported that wealthy crypto investors have transferred hundreds of millions of dollars worth of digital assets, including Bitcoin and Ethereum. One high-net-worth trader moved 14,159 Bitcoin worth $421.7 million from an unknown wallet to another, while another transferred 1,881 Bitcoin worth $55.9 million to Coinbase. Other large transactions involved Ethereum and Solana, with one whale moving 27,366 ETH from Binance.US to an unknown wallet and another moving 2,000,000 SOL from Binance to an unknown wallet. There were also transfers of Shiba Inu and Chainlink.
Ethereum's Price Pattern Suggests Possible Bullish Move, While Shiba Inu and Pepe Show Different Trends
Ethereum has entered an ascending price channel, which could indicate a bullish trend if it follows previous patterns. However, the recent breakdown from the $2,000 level may apply downward pressure on ETH. The Relative Strength Index (RSI) is hovering around the neutral 50 mark, but maintaining its level above 50, implying a potential uptrend. Meanwhile, Shiba Inu (SHIB) is experiencing a rapid reduction in volatility, potentially leading to an increase in selling pressure. On the other hand, Pepe (PEPE) has touched its local low and is resting on a 50 Exponential Moving Average (EMA) line, suggesting a potential price boost.
Ethereum's Transition to Proof-of-Stake Significantly Reduces Carbon Footprint and Energy Consumption
The implementation of Ethereum's proof-of-stake consensus mechanism, The Merge, has led to a significant reduction in its annual carbon footprint, resulting in a decrease of over 99% in carbon footprints and more than 99.9% in annual electricity consumption. In contrast, Bitcoin's carbon footprint has increased significantly over the past three years, with annual emissions estimated to surpass the yearly greenhouse gas emissions of countries like New Zealand and Cambodia.
Ethereum Price Declines as On-Chain Data Suggests Continued Downward Trend Amidst Increased Selling Pressure and Whale Activity on Crypto Exchanges
The price of Ethereum (ETH), the second largest cryptocurrency, has experienced a slight decline in the past week due to increased selling pressure in the digital asset market. On-chain data suggests that this downward trend may continue in the future. According to IntoTheBlock, 、
Bullish Ethereum Whales Counter Selling Pressure to Hold $1,800 Support Level
Ethereum's price has been struggling to reach the $2,000 milestone and is currently being defended at the $1,900 level by bullish investors. A group of whales have been buying more ETH to counteract the selling pressure, with 150,000 ETH worth $288 million added to their balances between July 15 and 20. The rising user acquisition rate on the Ethereum network suggests that the community is building momentum for the next bull rally, with network growth surging 49% from July 5 to 20. These factors indicate that ETH is likely to hold the $1,800 support and potentially rebound above $2,000.
Ethereum's Revenue Decline in Q2 2023: A Deep Dive and Future Prospects
Ethereum, a major player in the DeFi space, experienced a significant decline in network revenue and daily active addresses during Q2 2023, according to a Bankless report. The network's revenue dropped by 33.3% YoY, from $1.27 billion to $847 million, due to a decrease in transaction fees.
Crypto Twitter Generates Buzz for Opepen Edition NFTs
The 'Opepen Edition' Ethereum NFT collection, which features Pepe meme-inspired graphics and was initially curated by artist Jack Butcher, has experienced a surge in value and popularity thanks to social media hype. Despite being initially distributed for free, the floor price of the collectibles has risen from 0.47 ETH to 0.90 ETH in just five days, with a current floor price of 0.81 ETH.
Ethereum Grows in Market Cap Dominance Despite Volatility, Interest in Staking Rises
Despite facing significant fluctuations and high volatility in Q2 2023, Ethereum demonstrated resilience and attracted an influx of new users to its protocol. The platform displayed substantial growth in various aspects during this period, including an increase in market cap dominance.
NFT Artist Ellie Pritts Showcases AI-Generated Faces in First Solo Show at Bitforms Gallery
Los Angeles-based NFT artist Ellie Pritts has opened her first solo exhibition in New York City at the Bitforms gallery. The exhibition features eight animations that are available to mint as NFTs on Ethereum, as well as physical prints.
Dormant Ethereum ICO Participant Moves $116 Million Worth of ETH After 8 Years
An Ethereum ICO participant who had been inactive for over eight years has resurfaced and transferred 61,216 ETH, worth over $116 million, to crypto exchange Kraken. The participant had received the ETH for only 31 cents a coin at Ethereum's Genesis, worth around $18,980 at the time.
