Ethereum breaks $1.8K first time since June crash – up 104% from local market bottom

Ethereum breaks $1.8K first time since June crash – up 104% from local market bottom
фото показано с : cryptoslate.com

2022-8-8 16:50

The price of Ethereum has broken $1,800 for the first time since the market crash in June amid the Terra fallout.

The bullish price movement comes less than a month from The Merge, which is scheduled for September. Ethereum rose strongly against Bitcoin on August 8 as it approached a key resistance that was last tested on August 6.

Source: TradingView

Breaking the 0.07 BTC resistance could be critical for Ethereum to continue its bullish movement without the support of Bitcoin rallying the overall market.

However, despite fighting this key resistance, ETH’s performance against the dollar has been solid, sitting at $1,808 at the time of writing. After reaching a local low of $1,300 on July 26, Ethereum has seen extremely bullish price action rising 33% in just 12 days.

Source: TradingView

The overall crypto market has retained its $1 trillion market cap since July 27. Currently, it sits at $1.13 trillion as sentiment begins to move into a more bullish area for the time being. Ethereum makes up $220 billion of the total market cap behind Bitcoin at $461 billion.

Zooming out to view the bigger picture, ETH would have to reach its all-time high against Bitcoin recorded in 2017 to realize The Flippening and surpass Bitcoin in market cap. At the current price of Bitcoin, Ethereum would need to continue to around $3,800 to surpass Bitcoin, a feat that has never before happened.

With The Merge scheduled for September, all eyes are currently on Ethereum and how it will perform as the Beacon chain is merged to mainnet. Vitalik Buterin has played down talk of a hard fork to retain proof-of-work, and significant projects such as Chainlink have officially stated they will only support the proof-of-stake chain post-merge.

Should a fork happen, and ETHW coins are airdropped to ETH holders, it may create increased buy-side pressure for Ethereum if holders sell ETHW coins to buy mainnet ETH coins.

The post Ethereum breaks $1.8K first time since June crash – up 104% from local market bottom appeared first on CryptoSlate.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Market.space (MASP) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 MASP

crash market june ethereum time breaks local

Источник: cryptoslate.com

crash market → Результатов: 126


Фото:

Cryptocurrency Price Crash May Be Necessary for the Industry to Mature

The cryptocurrency industry’s market cap recently fell to its lowest state in over a year after a long period of stability. According to a CNBC interview with entrepreneur Alexis Ohanian, published on November 16, 2018, the founder of Reddit believes that the cryptocurrency price crash may be a necessary step for the industry to mature and provide tremendous value over.

2018-11-17 10:00


Bitcoin Cash (BCH) fork, Binance “maintenance” and market dump coincidence?

There were couple of interesting coincidences that were simultaneous with today’s monumental crash of bitcoin and crypto prices. The long raging civil war in the BCH camp that will end in a malignant and bloody split with one of the chains probably dying is certainly one of the plausible explanations for the crash even though […] The post Bitcoin Cash (BCH) fork, Binance “maintenance” and market dump coincidence? appeared first on CaptainAltcoin.

2018-11-15 03:04


Word on the Street: Chinese stock market rout may have added to Tether crash

The notorious "October effect" in stock markets (expected higher volatility and market crashes) has not disappointed, with the US and Chinese indices continuing their tumultuous run. This volatility has at times coincided with large sell-offs in cryptocurrencies and the panic selling in Chinese markets this week may have spilled over to the bitcoin and tether market this week - both of which share a large base of retail Chinese investors.

2018-10-20 23:00


Word on the Street: Chinese stock market rout may have added to USDT crash

The notorious "October effect" in stock markets (expected higher volatility and market crashes) has not disappointed, with the US and Chinese indices continuing their tumultuous run. This volatility in the stock market has at times coincided with large sell-offs in cryptocurrencies and the panic selling in Chinese markets this week may have had a spill-over to the bitcoin and tether market this week - both of which share a large base of retail Chinese investors.

2018-10-19 23:00


XLM Stands Up With Real World Application

Coming in at number 6 as one of the biggest cryptocurrencies in the world is Stellar. Adoption is increasing and the crypto is currently in the green after yesterday’s market crash. A US-based qualified custodian, Prime Trust recently announced that they will support Stellar while it is being actively used as the network of choice to build platforms on due to quick speeds and being trustworthy.

2018-10-12 21:30


Фото:

Research: Bitcoin whales make the cryptocurrency market less volatile

Fears that Bitcoin whales could dump enormous amounts of coins crash the market might be absolutely groundless – or so does new research suggest. Researchers from Chainalysis examined the transaction history of the 32 largest Bitcoin wallets and concluded that – contrary to popular belief – big-time cryptocurrency whales play a crucial role in keeping the market stable.

2018-10-11 15:58


Фото:

Bitcoin the Favorite in ‘Winner Takes All Market,’ Says Chief Market Analyst

Cryptocurrency have finally shrugged off naysayer comparisons to the dotcom boom after markets lost more value than the crash of 2000. ‘Very Likely A Winner Takes All Market’ As Bloomberg reported September 12 following another day of declines, especially concentrated in altcoin markets, the MVIS CryptoCompare Digital Assets 10 Index now reads 80 percent lower than at all-time highs around December last year.

2018-9-13 21:00


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru