Ethereum Up 20% in April While Markets Pro Sees 379% Gain in One Day
Cointelegraph Markets Pro stunned traders on April 8th with a massive 379% gain from a single alert. The AI-powered crypto trading platform detects market-moving events as they happen. One of the indicators pointing to these events is the VORTECS™ score.
Ethereum’s Shanghai and Capella Updates Drive $17M Inflows: CoinShares
Investor confidence in Ethereum (ETH) increased following the Shapella upgrade, leading to $17 million worth of inflows into ETH-based investment products during the week of April 17-23, according to CoinShares' weekly report. However, overall crypto investment tools recorded a $30 million loss during the previous week, with Bitcoin (BTC) seeing $53.1 million in outflows. Ripple (XRP) also contributed to the outflows, losing $400,000. North America led the BTC sell-offs, with Canada recording $32 million in outflows and the US recording another $21.9 million. Meanwhile, Germany emerged as the leading country in inflows, adding $28.7 million to the market.
Digital Asset Fund Flows Weekly Report
Ethereum’s Shapella brings investor inflows of US$17m, Bitcoin sees profit taking.
Declining Bitcoin-Ether Correlation Could Impact Crypto Investors’ Hedging Strategies: Coinbase
According to a research report by Coinbase, the correlation between bitcoin (BTC) and ether (ETH) returns has been declining since mid-March, with the decline becoming more pronounced following the Ethereum blockchain's Shanghai upgrade. The report notes that the falling correlation can affect quantitative strategies that rely on cross-hedging one asset for the other and supports diversification arguments in favor of holding both BTC and ETH from a fundamental perspective. The weakening in the 40-day correlation of daily returns may continue for another two weeks due to the initial phase of ether withdrawals following the upgrade, with an estimated 73,000 ether to be unlocked in partial withdrawals and 822,000 unlocked in full withdrawals.
Cointime News Wrapup-Afternoon: Gemini, Coinbase Among Bidders for Celsius Network's Assets in Upcoming Auction
Crypto exchanges Gemini and Coinbase are among the bidders for bankrupt crypto lender Celsius Network's assets in an auction scheduled for April 25 in New York. Two consortiums, Fahrenheit and the Blockchain Recovery Investment Committee, are also participating in the bids.
Ethereum ICO Participant Awakes After 7.7 Years of Dormancy
A long-dormant Ethereum address that participated in the blockchain's initial coin offering (ICO) has been reactivated after 7.7 years. The wallet transferred one ether to a new address in its first sent transaction, which some speculate may have been a test transaction. The wallet received 2,365 ether during Ethereum's genesis, worth approximately $4.42 million today, according to on-chain analysis account Lookonchain. Ethereum's ICO took place when one ether cost roughly $0.31. (TheBlock)
Ethereum Price Vulnerable To More Losses If It Stays Below $1,920
Ethereum's price has extended its decline below $1,920 against the US dollar, and may continue to move down if it breaks the $1,820 support zone. The price is currently trading below $1,920 and the 100-hourly Simple Moving Average. The next major resistance is near $1,920, and an upside break above this level could send Ethereum toward $1,975 or the 50% Fib retracement level. However, if Ethereum fails to clear the $1,920 resistance, it could continue to move down, with initial support on the downside near the $1,840 level and major support near the $1,820 zone. (newsbtc)
Ethereum Price Drops Below $1,900 as Technical Outlook Favors Bears
The price of Ethereum has dropped below $1,900, with a weekly chart showing a significant drop of over 10%. The technical outlook for Ethereum is in favor of the bears, as demand and accumulation for the altcoin have decreased. In order for Ethereum to make a recovery, it is crucial for it to breach the immediate resistance strength from buyers, with the support levels currently at $1,840 and $1,820. The Relative Strength Index showed that sellers outnumbered buyers, with the Moving Average Convergence Divergence forming red histograms, indicating sell signals for the altcoin.
Donald Trump ‘Series 2’ NFTs Floor Price Crumbles More Than 10% Below Purchase Price
Former U.S. President Donald Trump’s non-fungible token (NFT) second collection has crumbled more than 10% below the purchase price of $99 — currently with a floor price of roughly $88 at press time.
