Ethereum News

Tether, the leading stablecoin by market capitalization, has seen its supply increase by 5.5% in the last month, achieving a significant market valuation of $90 billion.

Since 2015, Tether’s Market Cap Has Swelled by 35,912,812%

Since the dawn of 2023, tether (USDT) has experienced substantial growth. Starting the year with a market value of $66.3 billion on January 1, 2023, it has surged to $90 billion in 340 days. This expansion represents more than a 35% increase, adding $23.7 billion to USDT’s market capitalization since the year’s commencement.

Tether’s market capitalization now represents 5.369% of the total $1.68 trillion crypto economy. Not only does tether hold the third position among over 10,000 digital currencies in terms of market valuation, but it also leads in daily trading volume with $23 billion. USDT’s principal trading pairs involve major fiat currencies such as the USD, EUR, TRY, MXN, and THB.

While year-to-date data indicates a more than 35% rise in USDT’s market cap, 5.5% of this upswing occurred in the preceding month. According to Tether’s transparency page, of the $90 billion total, the Tron network accounts for $47.82 billion and Ethereum for $41.01 billion, with the remainder distributed across various other blockchain platforms.

Looking back to March 16, 2015, USDT’s market value was a modest $251,000. Over eight years, the coin’s market cap has soared by a massive 35,912,812%. Tether’s aggregate market valuation is on the brink of entering the world’s top 100 assets, including exchange-traded funds (ETFs) and companies, in terms of market capitalization. In order to achieve this feat, USDT will need a market cap of more than $130 billion.

What do you think about the stablecoin tether and its market cap growing to $90 billion? Share your thoughts and opinions about this subject in the comments section below.

Alvaro Fernandez, the Chief Operations Officer (COO) at Lumoz, has stated that while zero-knowledge rollups have demonstrated exceptional security and scalability, the technology is still not user-friendly. To address this issue, networks should opt for ZK Rollups-as-a-Service (ZK-RaaS) because this simplifies the creation process for a single ZK-Rollup. This makes them “more accessible for developers and projects to use,” Fernandez added.

Zero-Knowledge Versus Optimistic Rollups

In his written answers sent to Bitcoin.com News via Telegram, Fernandez argued that by offering what he called “a seamless experience” ZK-RaaS can also quicken the “implementation of secure and scalable networks.” While ZK-RaaS are believed to be more secure, Optimistic Rollups-as-a-Service, on the other hand, are favored for their simplicity and cost-effectiveness.

Regarding industry sectors most suited for ZK-RaaS, the Lumoz COO identified decentralized finance (defi), gaming platforms, and non-fungible token (NFT) marketplaces. In decentralized finance, ZK-RaaS mitigates challenges relating to traditional platforms’ “high fees and sluggish transaction speeds.” By using ZK-RaaS, gaming platforms and NFT marketplaces can reduce transaction costs and increase transaction speed, while ensuring the security and privacy of their users’ data.

Below are Alvaro Fernandez‘s answers to all the questions sent to him.

Bitcoin.com News (BCN): Zero-knowledge (ZK) rollups have proven to be especially effective in creating secure and scalable networks yet the technology is seemingly not user-friendly. Can you tell our readers what these zero-knowledge rollups or ZK-RaaS are all about and why they are considered to be critical for scalability?

Alvaro Fernandez (AF): Absolutely, while ZK-Rollups have demonstrated exceptional security and scalability, their user-friendliness has been a challenge. ZK-RaaS addresses this concern by providing a user-friendly platform that abstracts the complexities of ZK Rollup technology.

ZK-RaaS simplifies the creation process of a single ZK-Rollup, making it more accessible for developers and projects to use. As what Lumoz provide, It’s a total no-code process, even ordinary people can use the ZK-RaaS launch base to generate their own ZK Rollup in minutes with bridges and explorers. One of the biggest challenges for most of the ZK projects is the prover cost, usually it’s the main cost of running a ZKRollup and its project needs to spend much effort and time maintaining the machines. Lumoz proposed this decentralized prover network that takes care of all the computing power stuff, which is free to projects.

This approach is critical for scalability because it lowers the entry barrier, encouraging a broader adoption of ZK Rollup technology. By offering a seamless experience, ZK-RaaS accelerates the implementation of secure and scalable networks.

BCN: There are two types of Rollups-as-a-Service — Optimistic Rollups and ZK-Rollups that are widely adopted by blockchain projects. What’s the difference between them and what are the pros and cons of each?

AF: Optimistic Rollups and ZK-Rollups are key Rollups-as-a-Service in blockchain. Optimistic Rollups assume transaction validity unless disputed, offering flexibility and cost-effectiveness. However, the arbitration process may introduce delays. ZK-Rollups use Zero-Knowledge Proofs for private transaction verification, excelling in privacy and security with faster finality. Yet, they may have higher setup costs due to computational needs. The choice hinges on project priorities: Optimistic Rollups for simplicity and cost-effectiveness, ZK-Rollups for heightened privacy and security.

BCN: Your company Lumoz uses a hybrid Proof-of-Work/Proof-of-Stake network to facilitate ZK-proof mining and enable developers to generate a customized zero-knowledge EVM chain. Could you tell us how this hybrid model works and why it’s needed in the first place?

AF: While proof of stake is primarily associated with the DA aspect, various DA providers like Celestia, Avail, Radius, and Espresso populate the market. Projects are encouraged to freely choose any for seamless integration including Lumoz DA.

However, proof of work stands out as a core strength and a distinctive advantage of Lumoz. As mentioned earlier, the generation of zkps in all zk-rollups necessitates computing power. Thanks to our decentralized prover network, miners can contribute their computing power, participate in zkp generation, and earn rewards through the POW process. Leveraging Lumoz’s extensive experience in mining, we’ve crafted this prover network to reduce barriers for projects seeking to adopt zk technology, while also facilitating miners to make valuable contributions and receive rewards.

BCN: With more and more people entering the Web3 space, why do you think decentralized applications (dapps) deployed on legacy Layer-1 chains and Layer-2 solutions need to consider using ZK-RaaS?

AF: Ethereum L1 is too congested, which is why Vitalik proposed the need for L2 to reduce transaction fees and increase TPS, improving the overall user experience. The differences between ZK and OP have been mentioned earlier, with ZK being more secure. Lumoz’s zk-raas addresses the issues of ZK computation power and deployment, enabling everyone to easily create customized zk-rollups.

The advantages of having one’s zk-rollup are evident — all on-chain resources serve the project, avoiding contention. This results in high TPS, low transaction fees, and an excellent user experience.

BCN: How does cross-rollup interoperability work with ZK-RaaS? Can you talk about Lumoz’s Native Cross Rollup Communication (NCRC) protocol that claims to provide a trustless solution for rollup interoperability?

AF: Cross-rollup interoperability is crucial in the ZK-RaaS framework, and Lumoz’s NCRC protocol ensures a seamless and trustless solution. This allows direct communication between ZK-Rollup chains, fostering a decentralized and secure environment without intermediaries. NCRC 2.0 enhances this by enabling cross-contract calls between second-layer networks, facilitating atomic cross-rollup contract calls.

Lumoz prioritizes user experience by integrating the first-layer network seamlessly, ensuring asset concentration without compromising decentralization. The NCRC protocol, especially in its latest version, exemplifies Lumoz’s commitment to achieving trustless cross-rollup interoperability, addressing challenges, and enhancing the blockchain ecosystem’s connectivity.

BCN: What industry segments are the most likely to benefit from ZK-RaaS? And how useful could it be for the Web2 companies that want to build their custom appchains?

AF: ZK-RaaS showcases its broad applicability across diverse industry segments, extending its benefits beyond the blockchain realm. In the financial and decentralized finance sectors, ZK-RaaS has the potential to transform transactions by ensuring security and scalability, mitigating challenges related to high fees and sluggish transaction speeds on traditional platforms.

Gaming platforms and NFT marketplaces can leverage ZK-RaaS for scalable and cost-effective transactions involving in-game assets and unique digital assets represented as NFTs. Additionally, in identity management, ZK-RaaS can play a crucial role in authenticating users without exposing sensitive information, making it valuable for industries requiring robust identity solutions.

As Web2 companies venture into building custom Appchains, ZK-RaaS emerges as a multifaceted solution, offering scalability, privacy preservation, customization, cost-effectiveness, and interoperability. This comprehensive set of features positions ZK-RaaS as a versatile choice for enhancing capabilities and meeting diverse needs in the evolving digital landscape.

What are your thoughts on this interview? Let us know what you think in the comments section below.

As bitcoin’s value soared to heights last witnessed on April 6, 2022, a multitude of crypto assets have also reaped benefits from the surge of the premier cryptocurrency. Yet, despite a significant number of these digital currencies experiencing substantial increases, surpassing even bitcoin in percentage gains, they have yet to approach the peak values achieved during that period.

From Then to Now: Bitcoin at 20-Month High, Rivals Lag Behind Former Highs

On December 5, 2023, bitcoin’s value surged to $44,490 per coin, marking its highest level in 20 months. Additionally, the overall cryptocurrency market is now valued at $1.67 trillion, with a global trade volume of about $158 billion recorded over the previous day. Reflecting back to April 6, 2022, archived data indicates that bitcoin was trading at $43,926 per coin, following a drop of over 7% against the U.S. dollar within a week.

Furthermore, the cryptocurrency market at that time boasted a significantly higher valuation, standing at $2.11 trillion. This figure surpasses the current market value by approximately $440 billion, highlighting a notable reduction in the overall crypto market economy. Twenty months ago, ethereum (ETH) was trading at $3,229 per unit. Today, with a current value of $2,296 per unit, ETH is trading $933 lower than its previous mark.

Back then, BNB was valued at $427 per unit, whereas its current trading price stands at $231. Solana (SOL) has experienced significant activity, priced at $118 at that time, and now trading at $62. Another noteworthy point from that period is that Terra’s LUNA was trading at $107 per coin, whereas its current value has plummeted to $0.00022749 per coin. At that time, it ranked as the seventh largest crypto asset, but today, it has fallen to the 55th position.

At that time, tether (USDT) had an $82.51 billion market capitalization and it’s higher today at $90 billion. Circle’s usd coin (USDC) had an overall market valuation of around $50.9 billion but it’s now lower at $24.33 billion. Just like LUNA, the once-stable coin terra usd (UST) was a top contender back then with a $16.74 billion market cap that’s now down to $478 million. BUSD also has seen its supply erased over the last 20 months, dropping from $17.7 billion to the current $1.59 billion.

Bitcoin’s recent surge to a 20-month high underscores its dominant position in the crypto market. Yet, despite this uptick, many other cryptocurrencies remain far from their past peak values, indicating a diverse and evolving digital currency landscape.

What do you think about the way crypto markets have performed this year? Let us know what you think in the comments section below.

Based on recent data, the surge of bitcoin beyond the $41,000 mark has triggered a significant increase in trading activity originating from South Korea. Alongside this heightened volume, bitcoin is currently commanding a $1,500 premium on major South Korean cryptocurrency exchanges, including Upbit, Bithumb, Korbit, and Coinone.

South Korea’s ‘Kimchi Premium’ Returns Amid 2023’s End-of-Year Bitcoin Rally

As bitcoin’s value soared to a peak of $42,400 per unit on December 4, 2023, the digital currency has been exchanging hands at around $41,769 per coin. Archived data recorded on December 5 reveals a substantial $95.8 billion in global 24-hour trading volume, with bitcoin (BTC) accounting for $39 billion of these trades. During the 24-hour period, the most prominent fiat currencies traded against bitcoin were the USD, KRW, EUR, GBP, and JPY.

The United States dollar (USD) dominated with 14.87% of the total trades, while the Korean won (KRW) comprised 4.71%. On December 3, as reported by Bitcoin.com News, BTC’s ascent past the $40K mark coincided with a notable ‘Kimchi premium’ in South Korea. This premium persisted as of 00:35 (UTC) on December 5, 2023. On Upbit, a leading centralized cryptocurrency exchange in South Korea, a striking $3.82 billion in trades has been tallied in the last 24 hours.

Currently, bitcoin is fetching a price of $43,272 on Upbit, which is notably $1,503 higher than the global average of $41,769 per unit. While South Korea is renowned for its cryptocurrency premiums, other regions including Hong Kong, Japan, Malaysia, the Philippines, and Thailand occasionally experience similar premium trends. Ethereum (ETH), with a global average price of $2,234, is trading on Upbit at an elevated rate of $2,310 per coin.

Similarly, solana (SOL) is listed on Upbit at $63.27 per unit, surpassing its global average of $61.28. This trend of premiums is also evident on Bithumb, which has reported $937 million in spot market trade volume. Bitcoin, along with other digital currencies like ethereum and solana, are all trading at a premium on this platform. Coinone and Korbit are witnessing similar price surges for these same cryptocurrencies. Another notable instance is bitcoin cash (BCH), which has a global average of $251 but is trading at $259 per coin in South Korea.

What are your thoughts on the crypto premiums in South Korea? Let us know what you think in the comments section below.

The CEO of Franklin Templeton, a $1.33 trillion asset manager, says there’s “obviously” a demand for bitcoin, noting that a spot bitcoin exchange-traded fund (ETF) is “a better way” to access the cryptocurrency. The executive added: “It’s going to unlock nontraditional, noncorrelated types of asset classes that are going to be interesting for our clients.”

Franklin Templeton Sees Demand for Bitcoin

Franklin Templeton Investments CEO Jenny Johnson shared her perspective on bitcoin and bitcoin exchange-traded funds (ETFs) in an interview with Fortune last week. The firm reported $1.33 trillion in assets under management as of Oct. 31.

“I think it’s important that we differentiate bitcoin and blockchain. I think that there’s a demand for bitcoin. It has its own use case, and that’s why you’re seeing these ETFs,” she began. Franklin Templeton is among the asset managers who have filed to launch a bitcoin exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC). The CEO opined:

It’s going to unlock nontraditional, noncorrelated types of asset classes that are going to be interesting for our clients. We also think that it’s going to make more efficient the types of products that you have today.

“ETFs trade all day, but only price twice a day. So, imagine that you build a pooled vehicle on the blockchain. When you transact, you can have the smart contract tell you exactly what the underlying value of those securities is. It’s just a much more efficient way to be able to operate,” Johnson described.

The executive also outlined the asset manager’s various crypto-related projects. “At Franklin Templeton, we developed a tokenized money-market fund. We built a shareholder recordkeeping system on that. We are a node validator, we actually advise on different portfolios. We have passive portfolios and active portfolios. While these are all in their early stages, they demonstrate that we’re big believers in this space,” she shared.

Concerning whether the SEC will approve a spot bitcoin ETF, she opined: “I don’t know. That’s in the hands of the regulators, as they’re trying to figure out the best approach. Their job is to protect the consumers, and I think they’ll do it in time, as appropriate.”

Responding to questions about client interest in a bitcoin spot ETF and potential fund inflows after SEC approval, she stressed:

I think there’s obviously a demand for bitcoin, and I believe a spot ETF is a better way to access bitcoin. As long as they trade, the bid-ask is narrow, it should be a better way to do it. It’s a much more convenient way for anybody interested in investing in bitcoin.

“But I think bitcoin has some challenges. It’s hard to anchor to any kind of investment thesis. It tends to be a risk-on/risk-off type of asset. You just want to make sure clients are responsible in how they allocate bitcoin,” she cautioned.

Johnson also shared some of her crypto picks. “They’re all standard: ethereum, a little bitcoin, sushiswap, uniswap. I have a couple of different things like that,” she revealed.

What do you think about the statements by Franklin Templeton CEO Jenny Johnson about spot bitcoin ETFs and demand for bitcoin? Let us know in the comments section below.

Over the last week, both bitcoin and ethereum experienced significant upticks, with increases of 13% and 10% respectively. Meanwhile, an array of other cryptocurrencies achieved even more impressive growth during the same period. Notably, terra luna classic (LUNC) surged by 122.5% against the dollar, while the BRC20 token ORDI ascended by 118.3%.

Alternative Cryptos Gather Double and Triple Digit 7-Day Gains

This week witnessed a group of six cryptocurrencies, including LUNC, ORDI, IOTA, TIA, STX, and WEMIX, soaring over 50% in value compared to the dollar. Coinciding with BTC’s climb to levels unseen since the Terra LUNA debacle, LUNC marked a remarkable triple-digit rise of 122.5%.

In the same vein, ORDI escalated by over 118%, while IOTA leaped by 89.9%. Weekly statistics show TIA’s increase at 54.2%, WEMIX at 52.5%, and STX climbing by 50.3%. At present, the overall value of the crypto market stands at $1.611 trillion, marking a 3.9% elevation from the previous day.

The market is bustling with a global trading volume of around $106.47 billion across 11,277 cryptocurrencies on 940 exchanges. As of Monday, December 4, 2023, bitcoin’s market dominance is at 50.9%, with ethereum following at 16.8%.

Besides the six standout performers this week, FXS, NEAR, RUNE, LUNA 2.0, and TAO all recorded over 20% growth against the U.S. dollar. Conversely, six cryptocurrencies, including TON, INJ, BGB, AXS, ILV, and LEO, witnessed declines of more than 2% over the past week.

In the realm of trade volumes, tether (USDT) leads the pack with $55.40 billion over the last 24 hours, while bitcoin (BTC) secures the second position with a global volume of $29.67 billion. Other volume frontrunners encompass ETH, SOL, XRP, DOGE, BNB, and LUNC.

In line with these price increases, a significant $182.58 million worth of crypto shorts were liquidated in the last 24 hours, according to Coinglass stats. Other notable liquidations originated from BTC, ETH, SOL, LUNC, STX, LINK, and ORDI, with BTC experiencing $1.39 million, ETH at $625K, and SOL at $567K in liquidations over the same period.

What do you think about the altcoin market performances over the past seven days? Share your thoughts and opinions about this subject in the comments section below.

As ethereum marks a significant price of $2,250, its movement within a 24-hour range of $2,151 to $2,271 reflects strong activity in the crypto market. With a substantial trade volume of $26.82 billion and a market capitalization of $269 billion, ether demonstrates its continued and dynamic presence in the digital currency landscape.

Ethereum

Ethereum’s current oscillators present a mixed view. The relative strength index (RSI) at 81.5 suggests neutrality, whereas the Stochastic and commodity channel index (CCI) lean toward a more bearish sentiment. These mixed signals from the oscillators indicate a nuanced market sentiment, with traders potentially weighing the robust performance against possible overvaluation concerns.

The moving averages present a unanimously bullish outlook for ethereum. Exponential moving averages (EMAs) and simple moving averages (SMAs) across all periods (10, 20, 30, 50, 100, 200 days) advocate a strong positive position. This consensus among moving averages highlights an underlying strength in ether’s price trajectory, suggesting sustained trader confidence.

The 4-hour chart underscores a clear uptrend, characterized by higher highs and lows, indicative of bullish momentum. The 15-minute chart reveals more granularity in ethereum’s price action, showing notable volatility. The chart displays a bullish reaction after a drop, suggesting a potential entry point during rebounds. However, the smaller subsequent candles and volume spikes point to moments of indecision, highlighting the need for cautious short-term trading strategies.

Bull Verdict:

Ethereum’s current market indicators, particularly the strong signals from moving averages, suggest a continuing bullish trend. The consistent buying signals across various timeframes indicate sustained trader confidence and potential for further price appreciation.

Bear Verdict:

Despite the overall bullish indicators, the mixed signals from oscillators cannot be overlooked for a cautious bear perspective. The high RSI and mixed messages from the Stochastic and CCI hint at possible overvaluation risks and potential market saturation. Short-term volatility, as seen in the 15-minute chart, suggests a precarious market that could be prone to sudden corrections.

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What do you think about ether’s market action on Monday morning? Share your thoughts and opinions about this subject in the comments section below.

Spanish law enforcement said on Dec. 1 it arrested a man accused by the U.S. of conspiring with Ethereum developer Virgil Griffith to help North Korea evade sanctions. A Spanish judge released the man who has since denied the allegations.

Cao de Benos Released Without Conditions

The Spanish police announced on Dec. 1 that it had arrested a man accused by the U.S. Department of Justice (DOJ) of contracting with jailed Ethereum developer Virgil Griffith to help North Korea evade sanctions. Alejandro Cao de Benos, who used a false identity, was caught in Barcelona while preparing to leave for Madrid.

According to a Reuters report, the DOJ has previously accused Cao de Benos of asking Griffith to use his expertise to assist North Korea in busting U.S. sanctions. Griffith is now serving a more than 5-year sentence for his supposed role in the conspiracy.

Following his arrest, Cao de Benos, who founded the Korea Friendship Association, appeared before a Spanish judge who has since released him without conditions. After his release, Cao de Benos immediately pleaded his innocence in a post on X (formerly Twitter). He added that there would be no extradition.

“There is no extradition. The US accusation, besides being false, does not exist in Spain,” Cao de Benos said on X.

However, according to an unnamed Spanish judicial source, the U.S. now has to formalize the process to have Cao de Benos extradited. If convicted, Cao de Benos faces up to 20 years in prison.

What are your thoughts on this story? Let us know what you think in the comments section below.

Digital assets worth just over $343 million were stolen from digital asset platforms in November alone. Centralized exchanges accounted for 53.8% of the total losses, with decentralized exchange platforms accounting for the remainder. The 34 attacks on BNB Chain and Ethereum represented 83% of the total losses across targeted chains.

Highest Monthly Loss to Date

“In November, digital assets worth $343,038,810 were siphoned from both centralized and decentralized exchanges, according to a new report by Immunefi. The figure includes digital assets stolen via hacks and fraud, making it the “highest monthly loss witnessed this year to date.” For perspective, nearly $22.2 million (15.4 less) was lost to similar incidents.

The data also shows that November is the third time in 2023 that losses suffered by digital assets platforms have exceeded $300 million. The other months are July ($320.5 million) and September ($340.4 million). The $21 million siphoned in January is the lowest incurred so far this year.

Immunefi’s November report reveals that the amount stolen in the past month brings the total value of digital assets fleeced in 2023 to $1,753,707,812. Centralized exchanges accounted for 53.8% of the total losses, with decentralized exchange platforms accounting for the remainder. Some of the high-profile breaches seen in that month include attacks on Poloniex, HTX Exchange, Kronos Research, and Kyber Network.

Most Attacks on BNB Chain and Ethereum

According to a new report by Immunefi, hacks were the predominant cause of digital asset losses in November 2023, accounting for $335,574,150. The report also highlights that the most targeted chains in November 2023 were BNB Chain and Ethereum, which represented more than half of the total losses across targeted chains at 83%.

The report further reveals that BNB Chain had as many as 22 individual attacks, which represents 53.7% of the total losses. The Ethereum network witnessed 12 incidents or 29.3% of the total losses. Three attacks on Arbtrum represent 7.3% of the losses, while Optimism, Avalanche, Fantom, and Heco Chain had one.

What are your thoughts on this story? Let us know what you think in the comments section below.

Recent statistics reveal that Microstrategy, a company known for its business intelligence, mobile software, and cloud services, has seen a significant increase of over 30% in its bitcoin investments. The company invested a total of $5.314 billion, with the current value of its bitcoin cache reaching $6.915 billion, marking a substantial profit of $1.601 billion.

Microstrategy’s Profits Have Risen by More Than 30% or 40,401 Bitcoin

Microstrategy (Nasdaq: MSTR) has experienced this notable growth following bitcoin’s (BTC) surge past the $39K mark. Currently, Microstrategy stands as the largest holder of bitcoin, surpassing both public and private entities, with the exception of governments and exchange-traded products such as Grayscale’s GBTC. As of the latest update, the company holds an impressive 174,530 BTC, currently valued at $6.915 billion based on the prevailing exchange rates.

Microstrategy’s investment in BTC, amounting to $5.314 billion, was acquired at an average cost of $30,252 per BTC. With its current valuation at $6.915 billion, the company has realized a gain of $1.601 billion, equating to a 30.12% return through strategic dollar-cost averaging of its purchases. According to archived data from blockchaincenter.net’s “There Is No Second Best,” this analysis tracks Microstrategy’s profit margin with BTC investments, comparing it with potential earnings had the company invested in ethereum (ETH) instead.

Had the company chosen to invest in ETH, its holdings would amount to 4,264,829 ETH, valued at $9.245 billion. This scenario would have yielded a 74% profit, totaling $3.931 billion, far surpassing the 30% gain from BTC holdings. Moreover, this figure does not account for additional earnings from staking the ETH, which at a 4% annual percentage yield (APY), could have contributed another $869.4 million to Microstrategy’s profits, blockchaincenter.net’s chart shows.

In such a case, Microstrategy’s total valuation with ETH, including USD gains and staking benefits, would stand at an impressive $10.114 billion. However, this remains a hypothetical scenario, as Microstrategy and its CEO Michael Saylor are firm believers in bitcoin, with Saylor famously stating, “There is no second best crypto asset.” When it comes to holding size, Microstrategy’s BTC assets represent 27.92% of Grayscale’s Bitcoin Trust’s holdings, showcasing the substantial amount of bitcoin in their portfolio compared to any private or public business.

Microstrategy’s stock performance has been sizable, with MSTR shares increasing by 167% over the past year. Since the beginning of the year, MSTR has seen a gain of 262%, and in the last month alone, shares have risen by 22%. When examining the top assets by market valuation, which encompasses exchange-traded funds (ETFs), cryptos, and precious metals, Microstrategy’s market capitalization ranks as the 1,768th largest globally. Concurrently, bitcoin boasts the 11th highest market valuation worldwide, positioned just below Warren Buffet’s Berkshire Hathaway.

What do you think about Microstrategy’s bitcoin holdings and the gains recorded so far? Share your thoughts and opinions about this subject in the comments section below.

Recent data reveals that Lido, the leading liquid staking protocol (LSP), now holds over 9 million ethereum within its system. This figure represents a significant 77.81% of the total ethereum value locked in current LSPs, underscoring Lido’s dominant position in the market.

Lido and Rocket Pool Reach New Heights with 9 Million and 1 Million Ether Milestones

The industry of liquid staking, now valued in the billions, is led by Lido, the leading liquid staking protocol in today’s decentralized finance (defi) landscape. Liquid staking, at its core, involves staking tokens while the assets remain “liquid” or “unlocked,” allowing for diverse applications. This method allows stakers to earn rewards while maintaining access to their funds.

For an extended period, Lido has been at the forefront of this market, and on November 21, 2023, it reached a significant milestone by surpassing 9 million in ether deposits. As of December 3, 2023, Lido holds a substantial 9.28 million ethereum (ETH) in deposits. In the preceding 36 days, dating back to October 27, 2023, the platform saw an influx of 490,000 ether.

The current total value locked (TVL) in the protocol is estimated at $20.05 billion, based on prevailing exchange rates. Among the 25 liquid staking protocols (LSPs), Lido accounts for a commanding 77.81% of the market share. The second-largest player, Rocket Pool, recorded a deposit of 49,214 ether in the same 36-day period.

Additionally, Rocket Pool recently celebrated a significant achievement, surpassing the 1 million ETH mark in TVL. While Lido and Rocket Pool observed deposits of 490,000 and over 49,000 ether respectively, Binance’s LSP experienced a more modest increase of 3,459 ETH since October 27.

In the realm of staking token derivatives, Lido’s STETH ranks among the top ten crypto assets on some market aggregation platforms, such as coingecko.com, although it’s not listed in the top ten on coinmarketcap.com. Were STETH to be recognized among the top ten crypto assets today, its market capitalization would rank it as the eighth largest.

Meanwhile, Rocket Pool’s RETH token is currently positioned as the 52nd largest among more than 10,000 listed crypto assets. Moreover, LSPs account for more than 52% of the TVL in defi today, according to defillama.com. Lido and Rocket Pool’s milestones highlight that together, these protocols now control a combined total of 10 million in locked ether worth $22.28 billion.

What do you think about Lido crossing the 9 million mark and Rocket Pool surpassing 1 million ether? Share your thoughts and opinions about this subject in the comments section below.

The total value locked (TVL) in decentralized finance (defi) is on the brink of surpassing the $50 billion threshold, standing at $48.91 billion currently. This figure marks a significant rebound from the low of $36.39 billion recorded 46 days ago, on October 18. Over this period, the TVL in defi has experienced a robust growth of 34.40%.

Defi TVL Set to Break $50 Billion Barrier

In recent times, the top ten defi protocols have shown remarkable performance, with the leading two liquid staking applications spearheading this growth. Lido, the frontrunner in defi protocols, witnessed a notable 20.17% surge in its 30-day metrics, while Makerdao experienced a 5.46% increase in the same timeframe.

Tron’s Justlend protocol enjoyed a 6.93% uptick, and Aave’s TVL climbed by 8.61%. Not to be outdone, Uniswap, ranking fifth in terms of TVL size, grew by 15.16% this month, closely followed by Summer Finance with an impressive 18.62% leap. The only exception in the top ten was STUSDT, which saw a marginal decline of 0.33% over the month.

The defi landscape also witnessed significant double-digit growth in Spark and Blast. However, Juststables encountered a 29.95% decrease in its TVL value over the last 30 days, and Tron’s SUN protocol also recorded a 23.77% reduction in the same period. As of Sunday, Ethereum dominates the defi space, holding 56.52% of all value, followed by Tron with 15.74%, and BSC with 6.13%. While Ethereum’s TVL rose by 26.48%, Tron’s saw a dip of 3.29% during the month.

Other chains following BSC in the top ten TVL rankings include Arbitrum, Polygon, Optimism, Solana, Avalanche, Cronos, and Base. Bitcoin secures the 11th spot in the ranking of the largest TVLs by blockchain. Notably, Solana (SOL) exhibited the most significant increase in TVL per chain, soaring by an impressive 69.33% this month.

What do you think about the latest defi market action? Share your thoughts and opinions about this subject in the comments section below.

PRESS RELEASE. Alchemy Pay, the leading fiat-crypto payment solution provider, has announced a new partnership with Trust Wallet, the leading self-custody and mutichain wallet with over 70 million users, enabling users to easily buy and sell crypto with multiple fiat payments within Trust Wallet directly.

The integration allows users to have more on and off-ramps solutions, which accelerate web3 adoption by lowering the entry barrier for retail users. Trust Wallet users now are able to easily convert between crypto and fiat by using various international and local payment methods, with more than 30 fiat currencies and 10 million cryptocurrencies across over 100 blockchains supported.

“Alchemy Pay takes great pride in our partnership with Trust Wallet, one of the leading crypto wallets, to provide comprehensive on and off-ramp support to a global user community. Our unwavering commitment is to facilitate a smooth, compliant, and secure user onboarding process on fiat on-ramp and crypto off-ramp.” said Robert McCracken, the Ecosystem Lead at Alchemy Pay.

Trust Wallet Product Lead Nate Zou stated: “We’re excited to offer more fiat solutions for our users by working with Alchemy Pay, making crypto more accessible than ever. This opens up new buying options for our global user base and introduces lower fees and more convenient payment methods while maintaining full ownership of their assets.”

Alchemy Pay specializes in providing solutions that enable cryptocurrency and Web3 services to access fiat payment options, thus enhancing their accessibility for a broader audience. Leveraging its extensive network of global acquirers and remittance enterprises, Alchemy Pay currently supports an impressive coverage of more than 300 fiat payment channels spanning across 173 countries.

Alchemy Pay’s primary focus and advantageous areas lie in emerging markets such as Southeast Asia and Latin America. Notably, it has successfully integrated with widely-used local e-wallets like GCash (with 60 million users) and Maya (50 million users) in the Philippines, OVO (92 million users) and Dana (115 million users) in Indonesia, Touch ‘n Go in Malaysia (17.8 million users), Pix in Brazil (116 million users), and others.

In its pursuit of broadening its service portfolio, enhancing transaction success rates, and optimizing operational efficiency, Alchemy Pay actively pursues licenses in various countries and regions including the United States, Canada, Indonesia, and Lithuania. Over the past three months, Alchemy Pay has been on a winning streak by securing Money Transmitter Licenses in both Arkansas and Iowa to prove its ability. Additionally, it has forthcoming plans to achieve regulatory compliance in Hong Kong, the UK, and the US. Currently, Alchemy Pay is also the official payment service provider for Visa and Mastercard, ensuring secure and compliant processes for both onramping and offramping transactions.

About Alchemy Pay

Founded in Singapore in 2017, Alchemy Pay is a payment gateway that seamlessly connects crypto with traditional fiat currencies for businesses, developers, and end users. With its On & Off-Ramp solution, NFT Checkout, Crypto Card and Crypto Payments, Alchemy Pay supports payments in 173 countries.

The Ramp is a one-stop solution to buy and sell crypto and fiat, easily integrated by platforms and dApps according to requirements. The NFT Checkout enables direct purchases of NFTs using fiat payment methods. The Crypto Card solution empowers businesses and token issuers to provide users with branded virtual and physical cards for instant global spending. ACH is the Alchemy Pay network token on the Ethereum blockchain.

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This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

Institutional investors seeking to earn rewards from digital asset token staking must be aware of the associated risks and should take steps to protect their clients, Andrew McFarlane, CTO at the Web3 infrastructure company Validation Cloud, has said. According to McFarlane, slashing, which is a penalty imposed on tokens staked on a validator who contravenes the rules of the network, is one particular risk asset managers must be aware of.

The Importance of SOC2 Attestation Reports

To limit the chances of being adversely impacted by the actions of a rogue validator, asset managers should ensure that their chosen validator has the requisite experience. In his written answers sent to Bitcoin.com News via Telegram, the Validation Cloud CTO said asset managers “should engage staking-as-a-service providers with strong security and slashing insurance.”

Another way asset managers can reassure their clients that their staking-as-a-service provider is a bona fide industry player is by choosing an audited staking platform. Staking service providers are either issued the SOC2 Type 1 or Type 2 attestation reports. While both attestations are valuable, McFarlane told Bicoin.com News that he sees SOC2 Type 1 as a better attestation report.

Meanwhile, when asked about the Ethereum network’s low staking ratio, McFarlane said its only because the “complete” staking became effective after the so-called Shapella upgrade in April. The CTO revealed that since the upgrade there has been an “over 50% growth in staked Ethereum over the last six months.”

Below are Andrew McFarlane‘s answers to all the questions sent.

Bitcoin.com News (BCN): What is staking-as-a-service and how does it differ from the complex decentralized staking protocols like Lido, and why would institutional asset managers want this?

Andrew McFarlane (AM): The Staking-as-a-Service product enables asset managers to support the operations of a blockchain network, without the burden of launching, maintaining, and scaling the necessary infrastructure – in return, asset managers earn significant rewards generated by the network.

The ability to provide this service without taking custody (non-custodial) of the tokens is the defining characteristic of a Staking-as-a-Service solution. This is in contrast with protocols like Lido or centralized exchanges, which require asset managers to deposit funds into these systems first, rather than staking directly from their wallets/custodians.

Institutional asset managers typically have strict obligations to hold assets with qualified custodians and procure tech partners who are SOC2-compliant. Staking-as-a-Service uniquely satisfies both of these obligations, allowing asset managers to keep their tokens in a custodian while being serviced by secure, compliant infrastructure.

BCN: In your opinion, what are the most common risks institutional asset managers face today with staking and how can they, or the staking service providers they use, eliminate such risks?

AM: The main risk in Proof of Stake (PoS) networks is slashing, which refers to the penalty imposed on tokens staked on a validator who contravenes the rules of the network – the severity of the penalty can vary depending on the protocol. Institutional asset managers should be aware of the specific slashing risks for the networks in which they stake.

Validators are responsible for proposing and validating new blocks of transactions, yet proposing more than 1 block (double signing), proposing invalid blocks, or prolonged downtime can result in slashing by the network. While such events are rare, experienced operators significantly reduce this risk. Institutional asset managers should engage Staking-as-a-Service providers who have strong preventative (e.g. security) and corrective (e.g. slashing insurance) measures in place for their clients.

BCN: Your company Validation Cloud recently introduced an institutional staking-as-a-service platform to offer on-demand deployment and rewards automation, among other things. What is on-demand deployment and reward automation and why should Web2 asset managers care about this?

AM: Validation Cloud’s platform was purpose-built to onboard institutional assets – the largest asset managers in the world are rapidly entering Web3 and in the near future, there will be over a trillion dollars in assets staked. As an example of scale, in order to facilitate the next $100M in staked Ethereum, 1.5M additional validators are needed. Furthermore, asset managers demand real-time infrastructure to stake/unstake, in order to facilitate dynamic, programmatic portfolio management. With respect to rewards automation, Validation Cloud has simplified the flow with on-chain smart contracts, which eliminates intermediaries and counterparty risk – driving superior experience and performance.

BCN: Validation Cloud’s staking platform claims to be SOC2 Type 1 compliant. Could you tell our readers what this is all about and how it differs from the SOC2 Type 2 certification that other staking providers like Consensys have received?

AM: Acknowledging that compliance is critical for institutional asset managers and traditional enterprises, Validation Cloud prioritized SOC2 – completing its audit with SF-based Sensiba LLP in August. Remarkably, only a small fraction of Web3 companies have achieved SOC2, in fact, Validation Cloud is the only company providing Staking and Node API to achieve SOC2. Within Web3, SOC2 holds pivotal importance for bridging the gap with traditional enterprises, aligning industry standards with those of Web2.

SOC2 defines criteria (security, availability, integrity, confidentiality, privacy) for managing customer data. The main difference between SOC 2 Type 1 and Type 2 lies in the duration of evaluation. Type 1 focuses on security controls at a specific point in time, whereas Type 2 covers those controls over a period of time, typically several months. Validation Cloud’s Type 2 observation period will conclude at the end of 2023.

BCN: According to Staking Rewards, only about 23% of the eligible ETH is currently being staked or delegated to the network. In contrast, other proof-of-stake networks like Solana, Cardano and Aptos have a staking ratio of over 60%. What explains Ethereum’s relatively low staking ratio and how would the increased institutional adoption of staking affect it?

AM: Ethereum has a lower staking ratio since its complete staking mechanism has only been in effect since April 2023 when the Shapella upgrade enabled the ability to unstake Ethereum. While “The Merge” in September 2022 ushered in the proof-of-stake consensus mechanism and the ability to stake Ethereum, it was impossible to unstake that Ethereum until the Shapella upgrade. Shapella was the inflection point for institutional asset managers, driving over 50% growth in staked Ethereum over the last six months.

What are your thoughts on this interview? Let us know what you think in the comments section below.

The transformation of the Ethereum network, popularly known as ‘The Merge,’ marked a significant shift in the blockchain’s energy usage and climate impact. A detailed report by the Cambridge Centre for Alternative Finance (CCAF) meticulously dissects this journey, offering invaluable insights into Ethereum’s historical and current ecological footprint. This transition, deeply rooted in environmental considerations, demonstrates a pivotal change in the digital asset ecosystem.

Ethereum’s Environmental Footprint Transformed, Says CCAF Report

Before The Merge, Ethereum’s proof-of-work (PoW) mechanism demanded considerable energy, largely due to the computational intensity of mining processes. This phase, while essential for the network’s security and integrity, raised environmental concerns due to its high energy consumption. The latest CCAF report highlights this period as a critical phase in understanding Ethereum’s total environmental impact. The CCAF’s previous article on the subject did not include geographical distribution

“In a previous article (April 2023), we introduced our work on Ethereum’s pre-Merge electricity consumption,” CCAF research lead Alexander Neumüller wrote. “Although this study signified a crucial preliminary step, it did not capture the geographical distribution of mining activity, thus missing a vital component for a more comprehensive environmental impact assessment.”

This diverse geographical distribution, as noted in the report, was influenced by Ethereum’s initial application-specific integrated circuit (ASIC)-resistant protocol design, which made mining more accessible across different regions. Europe, for instance, played a significant role in the early days, with a noticeable presence in the mining landscape.

The report estimates that the total greenhouse gas (GHG) emissions attributable to Ethereum mining stood at 27.5 MtCO2e up until it transitioned to proof-of-stake (PoS). This figure, accounting for nearly 0.06% of global GHG emissions in 2020, according to the CCAF study, is comparable to the emissions of countries like Honduras and Lebanon.

The Merge, Ethereum’s transition from PoW to PoS, was a strategic shift aimed at increasing scalability and reducing energy consumption. This switch not only marked a reduction in energy use by approximately 99.97% but also set the stage for future scalability improvements, making Ethereum’s network more sustainable and efficient.

Post-Merge, the network’s environmental impact has been significantly reduced. The CCAF’s estimates show a dramatic decrease in GHG emissions, indicating a successful implementation of the PoS mechanism in reducing the network’s ecological footprint. Toward the end of the study, Neumüller asks if Bitcoin will follow Ethereum’s path and remarks that bitcoiners “predominantly uphold its commitment to PoW.”

“The narrative of Ethereum and Bitcoin’s different paths is not just a tale of technological advancements but also reflects different ideologies and priorities of their communities, highlighting the multifaceted complexity inherent in the evolution of leading blockchain networks,” Neumüller concludes.

What are your thoughts on the latest CCAF report on Ethereum? Let us know what you think in the comments section below.

On Saturday, December 2, 2023, the cryptocurrency market exhibited a positive trajectory, advancing by 1.91% to reach a total value of $1.48 trillion. Notably, bitcoin achieved a peak of $39,705 within the day, marking its highest value since late April 2022.

Crypto Economy Climbs Nearly 2% on Saturday, Hits $1.48 Trillion Valuation

The overall cryptocurrency market experienced a surge this Saturday, with an approximate 2% increase over the past day. Bitcoin (BTC) saw a 1.59% rise against the U.S. dollar, while ethereum (ETH) climbed 3.58% in the same 24-hour span. Additionally, solana (SOL) witnessed a 7% uptick, and dogecoin (DOGE) escalated by 9.11% against the dollar.

BTC soared to a peak of $39,705, while ethereum (ETH) escalated to $2,195 per token. SOL advanced to $63.31 on Saturday, and DOGE ascended to $0.08612 per coin. Concurrently, BLUR, RUNE, TIA, IOTA, and ORDI experienced substantial growth, soaring between 11.3% and 54.9%, securing significant double-digit gains over the weekend. Additionally, PYTH, THETA, XRD, and WEMIX also reported noteworthy increases.

Nevertheless, the 24-hour global trading volume on Saturday stood at approximately $49.94 billion, marking a 7% decrease from Friday’s figures. Tether dominated with a global trade volume of $29.42 billion, while BTC’s trade volume reached $14.52 billion. Current statistics indicate that BTC’s market dominance hovers around 52% this weekend, with ETH’s dominance at 17.5%.

The crypto fear and greed index (CFGI) on Saturday registered a score of 74, symbolizing a state of “greed.” This sentiment has been consistent since yesterday and throughout the past week. Following BTC’s surge to $39,705, a significant portion of the day’s liquidations occurred in the past four hours, totaling $71 million out of $101 million in liquidated shorts. In the last 24 hours, as of this writing, a total of $122.48 million in both long and short positions have been eradicated.

What are your thoughts on the latest crypto economy surge? Let us know what you think in the comments section below.

Recent data reveals that Blast, the new layer two (L2) blockchain platform, has amassed a significant $660 million in value within its decentralized finance (defi) protocol. Concurrently, while accumulating a variety of crypto assets, the initiative has commenced a search for experienced senior blockchain developers.

While Amassing $660M, L2 Blast Project Searches for Developers

In recent times, Blast has emerged as a focal point of interest. This project, conceptualized by Pacman, the mind behind the non-fungible token (NFT) marketplace Blur, has rapidly gained traction. Within a span of less than a week, the platform’s total value locked (TVL) soared to approximately $400 million.

Concurrently, Blast faced allegations of resembling a Ponzi scheme. During this period, Paradigm, a principal investor in the project, admitted that the team had overstepped in certain aspects of communication and implementation.

Pacman has also countered the Ponzi scheme allegations and further clarified that Paradigm played no role in shaping Blast’s market entry strategy. In a mere five-day period following these events, Blast witnessed its TVL swell to $660 million, bolstered by an additional infusion of $104 million.

Notably, on November 30, when the TVL reached $634 million, Blast broadcasted its intent to expand its team, announcing open positions for hiring.

“Hiring announcement,” Blast stated. “Blast has reached $634m TVL across 67,757 community members. We’re hiring a senior devops engineer and senior protocol engineer. Reach out if you would like to contribute to Blast.”

The hiring announcement sparked skepticism upon its release, as observers questioned the project’s lack of engineering staff. “No mainnet, no testnet, no code, no employees, $634m TVL,” mocked one commentator, sharing an image of Pepe the frog.

Skepticism continued to mount on social media platform X, where another user exclaimed, “This cannot be real LOL.” Doubts persisted, with a further remark stating, “Yea this ain’t gonna end well.” The situation’s gravity led another individual to inquire, “Do you need a lawyer?”

Another person replied in jest:

Does anyone know how to make an L2? We needz help!

Currently, Blast holds a portfolio of 198,733 ether, 73,518 staked ether (STETH), and considerable amounts of stablecoins: 39.56 million USDC, 30.66 million tether (USDT), and 15.6 million DAI tokens. The role of senior protocol engineer, as outlined in the job specification, is pivotal.

This individual will significantly contribute to the team’s adaptation of the open-source OP Stack, which is rooted in go-ethereum. The OP Stack represents a unified, shared, and open-source development framework that fuels Optimism, under the stewardship of the Optimism Collective. Several L2 forks are based on the OP Stack.

What do you think about the L2 project Blast? Let us know what you think in the comments section below.

Sales of non-fungible tokens (NFTs) experienced a notable surge in November, with a 129.01% increase in sales volume compared to October. Additionally, NFTs created on the Bitcoin blockchain surpassed those on Ethereum in terms of sales this past month. This shift can be attributed to a marked rise in Ordinal inscription minting and trading activities on the Bitcoin network in recent times.

Bitcoin Climbs Past Ethereum in Staggering November NFT Sales Surge

NFTs experienced a vibrant month in sales over the past 30 days, reaching close to $1 billion in transactions, with an exact figure of $944.33 million. This figure represents a slight increase, just above 129%, compared to the $412 million in sales observed in October. However, despite this upsurge, November saw a decline of 20.16% in buyer participation, while seller numbers fell by 18.90%, as reported by cryptoslam.io statistics.

This month marked a significant shift with sales originating from the Bitcoin blockchain surpassing those from Ethereum. In the past 30 days, BTC-based NFT sales reached $382.88 million, exceeding Ethereum’s sales by $20.32 million, which totaled $362.56 million. Bitcoin’s NFT sales witnessed a significant 1,928.65% surge compared to October’s figures. Meanwhile, Ethereum’s sales also grew, registering a 57.28% increase over the sales in October.

In November, Solana’s NFT sales experienced a significant boost, soaring by 190.11% to reach $86.99 million. Conversely, Polygon saw a decrease of 33.90%, tallying $26.78 million in sales, while Mythos experienced a 30.32% drop, recording $25.66 million in sales volume. Dominating the month, BTC led with the “$SATS BRC-20” collection, amassing $93.44 million, a 974% increase from the previous month. The “$RATS BRC-20” collection from Bitcoin secured the second position, garnering $45.58 million in sales.

The $RATS BRC-20 collection skyrocketed by a massive 4,768,571% compared to the previous month. Ethereum’s Bored Ape Yacht Club (BAYC) ranked third in November with sales of $43.36 million, marking an 88.66% increase. Cryptopunks claimed the fourth spot, achieving $29 million in transactions, a rise of 169.61%. Sales from Mythos’ Dmarket reached $25.10 million, showing a 31.36% decrease from October. While Bitcoin led in overall sales, the most expensive NFT sold in November hailed from the Ethereum blockchain.

Fourteen days ago, the NFT “Uniswap V3 Positions NFT-V1 #14” was purchased for a substantial $1.66 million. Meanwhile, a “$BTCS BRC-20” NFT fetched $376K, selling just over 16 days ago, and the “Voting Token Lockup #3” from Arbitrum achieved a sale price of $300K. From Solana, the “Boogle #057” NFT was acquired for $126K, and Cardano’s “EMURGO x NMKR Cardano Summit” NFT garnered $59K, both selling just over ten days ago.

What do you think about the record-setting NFT sales in November and Bitcoin dethroning Ethereum in terms of sales over the past month? Let us know what you think in the comments section below.

Similar to bitcoin prices, the second leading crypto asset in terms of market capitalization has risen on Friday, jumping 2% against the U.S. dollar. The 24-hour price range of ether has been recorded between $2,024 and $2,111, reflecting a volatile yet upward trajectory. Ether now stands with a market capitalization of $250 billion and a 24-hour trading volume of $17.56 billion.

Ethereum

As of December 1, 2023, ethereum (ETH) displays a mixed bag of indicators. Presently, the price of ether is coasting along at $2,081 per unit. The relative strength index (RSI), sitting at 58.4, suggests a balanced market position, complemented by the Stochastic oscillator’s similar neutrality at 78.2. The commodity channel index (CCI), however, hints at a bearish outlook with its 129.9 reading, a sentiment echoed by the Momentum indicator at 51.9.

In contrast, ether’s moving average convergence/divergence (MACD) leans optimistic at a level of 9.4. Ethereum’s moving averages paint a promising and more positive picture. Across various time frames — 10, 20, 30, 50, 100, and 200 days — both the exponential moving average (EMA) and simple moving average (SMA) point to bullish tendencies. The EMAs notably surpass their SMA counterparts, reinforcing the bullish momentum’s strength in ether markets right now.

The 4-hour chart of ETH/USD shows a positive trajectory, characterized by a pattern of escalating highs and lows, following a rebound from a solid support point at $1,520. The daily chart further mirrors this bullish pattern, highlighting a recovery from a significant slump to roughly $877, followed by a consistent uptrend. Both charts show a consolidation near the $2,100 mark, indicating a pivotal point for potential future price directions.

In light of ethereum’s present market stance, the perspective leans towards cautious optimism. For those eyeing long positions, a breakout above the $2,150 resistance mark, accompanied by a surge in volume, could confirm a good entry point. Alternatively, a pullback to established support levels may also present entry opportunities. Regarding exit strategies, placing a stop loss just beneath recent swing lows or established support levels can help minimize risks. Similarly, capitalizing on profits at past peaks or resistance zones could enhance returns.

Bull Verdict:

Ethereum’s market indicators and moving averages, especially the promising alignment of EMAs over SMAs across various timeframes, coupled with the consistent formation of higher highs and lows on the 4-hour and daily charts, strongly suggest a bullish trend. The consolidation around the $2,100 level, followed by a potential breakout above the $2,150 resistance, further bolsters this optimistic outlook.

Bear Verdict:

Despite some bullish signals, the bearish indications presented by the commodity channel index (CCI) and the moderate stance of the Momentum indicator cannot be overlooked. These suggest underlying market uncertainties and the potential for downward movement. Additionally, the consolidation near the $2,100 mark might signify a hard ceiling that ether struggles to surpass, possibly leading to a downturn.

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What do you think about ether’s market action on Friday morning? Share your thoughts and opinions about this subject in the comments section below.

PRESS RELEASE. Token preseal is currently live – 11/17/23

Coinscribble – December 1st, 2023 / In a pioneering development in the Web3 realm, GROW Protocol announces its debut as the “world’s first real blockchain passive income coin”.

Signifying a radical shift in earning techniques, GROW merges conventional revenue sources with the power of blockchain technology to create a protocol that ensures long-term viability and growth.

Addressing Common Challenges

The GROW Protocol addresses the common challenge of inflation in the staking landscape, offering an unmatched 25% annual percentage rate in USDT through external revenue sources, expertise from seasoned traders with more than two decades of experience, and the strategic implementation of fee structures and real-world applications.

The Ethereum blockchain network forms GROW’s backbone, owing to the network being cherished for its quick transaction times, flexibility, and strong scaling capabilities. The protocol’s native token, $GROW, is essential for accessing the platform’s features, ensuring a sustainable and balanced growth model with a carefully engineered supply of 100 million tokens.

When compared to traditional passive income projects that depend on community participation for upholding payments, GROW Protocol is a significant breakthrough.

Buy GROW

https://growprotocol.net

GROW Protocol’s Path to Success

The roadmap ahead for GROW Protocol symbolizes its commitment to growth and stability, encompassing KYC verification, security audits, DEX testing features, community growth initiatives, and numerous presale stages to ensure no one misses out.

Additionally, the roadmap extends to other innovative endeavors in the pipeline, including the launches of ‘GROW Exchange’, ‘Grow AI Trading Bot’ and a professional trading platform on Signal and Telegram.

The team behind GROW Protocol is dedicated to ensuring complete adherence to all relevant regulations to not only safeguard the project’s operations but also build trust among investors and stakeholders.

In a nutshell, the project’s mission is to pioneer a dependable and secure passive income stream that offers exciting investment opportunities for everyone – democratizing security and growth. With its revolutionary staking model, commitment to regulatory compliance, and vision for ongoing developments, GROW Protocol is set to reshape the economic destinies of investors worldwide.

Be sure to check out GROW Protocol on Telegram and Twitter to keep up-to-date with the pioneering blockchain project’s latest happenings and achievements.

This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.