The cryptocurrency market is showing signs of recovery despite the recent inflation data in the United States. However, Ethereum is still at risk of correction as it has reached an important demand wall at $1,850 - $1,905. Crypto market analyst Ali Martinez warns that failure to retain this critical support zone may trigger a correction, potentially leading ETH to the next significant demand area at $1,570 - $1,630. Ethereum is currently changing hands at $1,878.27 and is one of the three altcoins recommended by crypto trading expert Michaël van de Poppe to keep an eye out for.
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Ethereum Breaches Key Demand Wall,What’s Next for ETH?
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Are we finally ready for a gas limit increase?
There has been growing discussion around the possibility of increasing Ethereum’s gas throughput, either by raising the gas limit or reducing slot time. The key argument in favor of this is that the hardware requirements for running a validator have steadily decreased over the past four years.
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Cointime August 17th News Express
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According to Etherscan data, the current Ethereum network gas fee has fallen below 1 gwei, currently at 0.937 gwei. -
Cointime August 10th News Express
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Ethereum ACDC #139: Pectra's Devnet 2 upgrade is under debugging, and the release date of Devnet 3 is still to be determined
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DApp activity on the Ethereum chain has increased by 55% in the past 7 days, and TVL has reached its highest point since November 2022
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Cointime August 4 News Express
1.Jump Trading is redeeming 120,000 wstETH in batches into ETH and then transferring it to CEX -
Jump Trading is redeeming 120,000 wstETH in batches into ETH and then transferring it to CEX
According to the monitoring of on-chain analyst Yu Jin, Jump Trading may be selling ETH: they are currently redeeming a wstETH (120,000 pieces) worth $410 million in batches into ETH and then transferring it to exchanges such as Binance/OKX. So far, they have unpacked and redeemed 83,000 wstETH into 97,500 ETH in the 9 days since July 25. Among them, 66,000 ETH (191.4 million US dollars) have entered the exchange.At present, there are still 37,600 wstETH in their wstETH storage address that have not been transferred out; 11,500 stETH in the redemption ETH address is being redeemed into ETH; and 20,000 ETH in the ETH transfer address to the exchange are waiting to enter the exchange in batches.
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