The Ethereum (ETH) price could explode to record highs on the backs of an optimistic accumulation behavior.
Data provided by cryptocurrency market analysts at Santiment shows that miners are now holding more ETH rewards than they did three months back. At 1.69 million ETH, which roughly equals about $300 million, the cumulative balance of all Ethereum mining pools is now sitting atop a new all-time high.
Miners’ ETH holdings are reaching its all-time high | Source: Santiment
Maksim Balashevich, the founder of Santiment, wrote in a note that miners’ accumulative strategy tends to show their high confidence level in the project, adding that their hoarding of the token is likely to continue heading into February.
He also noted that a price drop could prompt miners to offload their existing holdings onto the spot market. Excerpts:
“Major miner sell-offs have often been followed by quick and significant price corrections historically. The last time the network’s miners held on to this much ETH was back in late October of 2019 when a drop below $170 prompted some to offload their holdings. Barring major market volatility this time around, we’re likely to breach this milestone within the next few days.”
Ethereum Locking on the Rise
Holding Ethereum shows that miners want to speculate on its price rise in the coming sessions. The sentiment follows a boost in the so-called ETH Locking behavior among retail users, caused by the booming “Decentralized Finance” sector – also known as DeFi.
In retrospect, investors looking to earn high yields bought Ethereum tokens and locked them inside a third-party app’s reserve for further lending. The DeFi craze picked steam in 2019, with the amount of dollar-denominated funds locked inside a lending wallet increasing from $240 million to $856 million in just a year.
Meanwhile, Mr. Balashevich referred to Ethereum’s Mean Age – a barometer to study the cryptocurrency’s inactivity over a timeframe while sitting in a wallet. The analyst found that the number of inactive ETH tokens fell from 54.6 percent to 39.6 percent in just 12 months ending January 2020.
“Both data points highlight the same trend – ‘old’ coins remain relatively unutilized, and the share of active coins continues to decrease,” added Mr. Balashevich. “With the explosive growth of ‘ETH locking’ mechanisms and DeFi solutions, this is likely to become the norm in years to come.”
Inactivity is Bullish
Experts believe that the ongoing DeFi craze is bullish for Ethereum. Noted pseudonymous analyst Crypto Wolf said in a tweet that the ETH price would follow the growth of DeFi projects.
ETH locked in DeFi going parabolic. Price will follow, i'm accumulating AF. pic.twitter.com/JjgetnovqN
— CryptoWolf (@IamCryptoWolf) January 8, 2020
While it is too early to tell whether or not DeFi will be a success, the Ethereum’s community holding behaviour alone testifies that they are bullish. That includes miners. The post appeared first on NewsBTC. origin »
Ethereum [ETH] is facing issue after issue with the Merge just round-the-corner now. This time the issue is with ETH miners. There is a group among miners who believe the transition to Proof-of-Stake The post ETH miners may go 'broke' thanks to the Merge; too late to reconsider? appeared first on AMBCrypto.
The Istanbul update ran on testnet, creating a split chain and sparking fears of an actual split as miners may not accept changes from Ethereum developers.
Block reward on the Ethereum network is currently down by 1,000 ETH amid a slight increase in block time, signaling the emergence of yet another ‘difficulty bomb. ’ Miners, dApp projects, and hodlers will have some decisions to make regarding the difficulty bomb even as Ethereum moves towards a pivot to proof-of-stake (PoS) consensus.
The Ethereum network will be undergoing a network upgrade, or a hard fork on approximately December 7, 2019, at block number 9,069,000. All node operators and miners are requested to upgrade their node clients to account for variable block times.
Ethereum (ETH) has faced the dilemma of moving to proof-of-stake in the usual way – by another delay in the mining “ice age”. For the past three years, developers have voted several times to disable the difficulty time bomb, so that miners could get some grace time to seek block rewards.
The Ropsten network showed what would happen if not all participants in the Ethereum (ETH) ecosystem agree on moving forward. The test net split into two and Etherscan temporarily stopped showing the blocks produced.
Ethereum Blocks Filling Up As covered heavily by this outlet over recent weeks, the Ethereum network has been seeing more activity than ever before. In fact, the network has been used so much that miners...
Crypto markets are green again, especially if you have an extra video card. Thanks to rising prices, it’s once again possible to make a profit mining Ethereum (ETH) on a home graphics processor.
CryptoNinjas
Lykke Exchange, a global cryptocurrency marketplace, today announced it has enabled deposits, withdrawals, and trading of RSK’s RBTC cryptocurrency in the RBTC/BTC, RBTC/ETH and RBTC/USD trading pairs.
The cryptocurrency data portal Messari ha recently showed the world a new report in which it explains that the Bitcoin blockchain network costs around $7 million USD daily to be secured. According to the data gathered by the portal, this is how much is paid to miners in order to approve the proof of work […]
An Ethereum (ETH) user is probably counting his losses as the Ethereum network charged him a staggering fee of over 2100 ETH to send $14 worth of ETH. While this may seem like a mistake, the user’s account is said to be very active and so chances of making such a mistake are really slim.
The crypto industry is abuzz about an extremely generous tip, left to Ethereum miners by an apparently high-rolling developer. Four transactions, all dated Feb. 19 and originating from the same wallet, spent 3,150 ETH in transaction fees.
Ethereum network fundamentals are on pause once again as the Constantinople hard fork has been delayed until February 27th. A reduction in ETH issuance will affect not only the annual inflation but also mining profitability.
An important decision was made recently as some Ethereum developers decided to hold off instead of submitting the code that would make ASIC miners less effective for mining ETH tokens. The decision was revealed during a public call made today in which people like Afri Schodedon, Danno Ferrin, Hudson Jameson, Lane Rettig and Greg Colvin […]
Whenever I claim that bitcoin is the only decentralized cryptocurrency, I get one of two arguments:My X coin is also decentralized. Bitcoin isn’t decentralized because of Core and/or miners.
Following the discovery of major security risks in a recent audit on Ethereum’s upcoming Constantinople upgrade, Ethereum developers have…
The post Some ETH Miners Didn’t Follow Through With Developer Advice, Now Mining On An Unofficial Chain appeared first on Invest In Blockchain.
Ethereum (ETH) is going to experience a new hard fork as soon as January 16. This network upgrade is called Constantinople and is expected to reduce block rewards for miners from 3 ETH to 2 ETH. The upgrade is very important for the Ethereum community and is an important path towards Proof-of-Stake (PoS) from Proof-of-Work […]
It seems that Ethereum developers could soon implement a new algorithm that would block ASIC miners from participating in the network. However, the new proposal has to be tested and reviewed before being implemented.
2019. 1. 1, one of the world’s largest ZCash mines—ZPool officially opened up its ZCash mining pool, and started recruiting miners from all over the world free of service charges.
KIENG KESSARA, the founder of ZPool, noted that, ZPool was formerly known as Megabigpower Bitcoin mine, which was built in September 2017 in Idaho, the United States.
Miners Won’t Be Able To Work For Much Longer With Ethereum, According To A Market Analyst Alex Kruger The bearish market has already brought down faith in Bitcoin for many users, and their mining scene isn’t doing too swell either.
Think you’re working hard at making an extra income even while prices are down? If you’re not careful and don’t heed the warnings about port 8545, you may just see all your ETH disappear overnight.
In recent mining news, Susquehanna International Group has reported that it is no longer profitable to mine ether with a GPU. In other news, a Canadian miner has taken to Twitter to share photos of a system that recycles the heat generated by his six ASIC miners, while Jihan Wu has accused Craig Wright of […]
The post ETH Mining Not Profitable, Miner Heats Home With ASIC Rigs appeared first on Bitcoin News.
Аccording to an analysis from U. S. -based global trading and technology firm Susquehanna, mining Ethereum (ETH) using a graphics processing unit (GPU) is no longer profitable, Cointelegraph reported.
Argo, A UK-Based Provider Of Cryptocurrency Mining services, Has Announced The Launch Of Bitcoin [BTC] On Its Platform From November 1st. Now, the most popular digital asset will join the likes of ether, Bitcoin Gold, ETC, Zcash, Komodo, and Horizen as part of Argo’s services aimed at aspiring crypto miners who are less tech-savvy. With […]
Ethereum Security Lead Joins Effort To Oust Blockchain’s Big Miners There is a strong movement building inside of the Ethereum network to block ASIC miners. As many users believe that the decentralization is important, they seem concerned that ASIC miners could centralize the decision on the network too much and, because of this, some people […]
Chart for ETH/USD (1D)
Ethereum (ETH) and those backing it have some valuable lessons to learn from the past. Of course, the one that tops the list is, “you reap what you sow”. How is this relevant? Well, back when Ethereum (ETH) forked off the original Ethereum chain, for every original Ethereum coin you had, you received two coins, ETH and ETC.
Ethereum is embracing the Constantinople milestone at the end of November 2018, after DevCon4 in Prague. Constantinople is the latest Ethereum release, introduced through a hard fork, that will include five Ethereum Improvement Proposals (EIPs):Bitwise shifting instructions (EIP 145) in the Ethereum Virtual Machine (EVM) allow for direct manipulation of bytes on the EVM layer.
Ethereum Classic (ETC) has been in a downtrend against Ethereum (ETH) ever since its inception. The weekly chart above for ETC/ETH shows that from the beginning of 2017 until the month of July this year, Ethereum Classic (ETC) had been trading in a falling wedge against Ethereum (ETH).
As an emerging cog in the global digital economy,
cloud mining offers a tool for enthusiasts to mine cryptocurrencies such as
bitcoin without having to acquire hardware or other oft-required elements.
Ethereum (ETH) plunged deep into the red today as the price fell 11% in a matter of hours. The whole market nosedived as Bitcoin (BTC) fell back below $7,000 but Ethereum (ETH)’s reaction was one of the most aggressive as shown by the ETH/USD daily chart above.
BTC. com, the bitcoin specialist where wallet users, miners, and developers access tools and coins, today released an Ethereum (ETH) and Ethereum Classic (ETC) mining client through its portal pool.
A video meeting that was held by the Ethereum Core devs last Friday discussed the possibility of lower block rewards for miners. Ethereum is currently being mined on a proof-of-work algorithm in which miners who discover new blocks are rewarded with ETH.
Despite waning prices and never-ending scalability debates, the Ethereum protocol continues to rake in massive revenues for network miners, with figures confirming $2. 5 billion-a-year payouts. Ethereum Miners Rake in Big Money According to a report on TrustNodes, mining revenue accounts for about 8.
If you are a miner, you will want to maximize your profits at the time of mining Ethereum (ETH). The best way to do so is by joining an Ethereum pool and combine the resources you have with other miners all over the world.
The ETH vs ETC debate began over a matter of principle regarding the immutability of the blockchain, as well as speculators and miners seeking an opportunity to profit from a forked chain. ETC has continued to survive and begun to thrive after the removal of a difficulty bomb which threatened to shut down the network entirely.
In which I argue that “tightly coupled” on-chain voting is overrated, the status quo of “informal governance” as practiced by Bitcoin, Bitcoin Cash, Ethereum, Zcash and similar systems is much less bad than commonly thought, that people who think that the purpose of blockchains is to completely expunge soft mushy human intuitions and feelings in favor of completely algorithmic governance (emphasis on “completely”) are absolutely crazy, and loosely coupled voting as done by Carbonvotes and similar systems is underrated, as well as describe what framework should be used when thinking about blockchain governance in the first place.
Zcash (ZEC) is currently the most profitable cryptocurrency for those into crypto mining, with a Return of Investment that far outperforms any other token in the market, including those cryptos with the largest market cap such as BTC, ETH or BCH.
Zcash (ZEC) is the most profitable cryptocurrency to mine, with expected returns far higher than other PoW coins like Ethereum (ETH) and Bitcoin (BTC). Data collected from cryptocurrency tools provider Anything Crypto suggests that at current difficulty levels, ZEC miners using the Antminer Z9 mini could expect an $8,000 return on their investment over a […]
The post Zcash Mining 400% More Profitable Than Bitcoin appeared first on Crypto Briefing.
An unprecedented increase in the cost of transactions for Ethereum has been observed in the past few days. According to Etherscan, this is the result of abnormal amounts of fees being collected by miners in comparison to what is normally collected.
Cryptocurrency prices rebounded on Saturday, with Bitcoin moving above $97,500 and the market cap of all tokens soaring to $3. 25 trillion. The crypto fear and greed index exited the fear zone and moved neutral at 43.
Scaling Ethereum's L1 could enhance security and resilience, ensuring robust decentralization amid growing L2 reliance and potential centralization risks.
The post Vitalik calls for 10X scaling to reinforce Ethereum’s L1 dominance in an L2-heavy world appeared first on Crypto Briefing.
The cryptocurrency market showcased a mix of gains and losses on February 14, with fluctuating price movements following the release of key US economic data. While Bitcoin (BTC) managed to hover around the $97K level despite slight turbulence, Ethereum (ETH) hovered near $2,700.
The Ethereum Foundation's DeFi engagement may reshape its financial strategy, but staking could challenge its neutrality in future forks.
The post Ethereum Foundation to explore staking after allocating 45,000 ETH to DeFi appeared first on Crypto Briefing.
BlackRock, крупнейшая в мире инвестиционная компания, заявила, что BTC теперь можно рассматривать как «безрисковый» актив, аналогичный традиционному золоту. Стоит отметить, что до сих пор многие инвесторы рассматривали криптовалюту в целом как довольно нестабильное вложение.
The Chicago Board Options Exchange (Cboe) has filed a Form 19b-4 with the US Securities and Exchange Commission (SEC) to introduce staking capabilities for the 21Shares Core Ethereum ETF (CETH). This application, if approved, would mark the first instance where an Ethereum ETF in the US includes staking, allowing investors to potentially earn additional returns […]
Key Takeaways: Bitcoin and Ethereum ETF holdings of Goldman Sachs increased drastically. This is an indication that the traditional financial institutions see crypto as essential. Even though traditional finance initially
The post Goldman Sachs “U-Turn”: Massive Increase in Bitcoin and Ethereum ETF Investments – A Crypto Market Signal? appeared first on CryptoNinjas.