ETH

Ethereum Bullish Signal: Adoption Hits Four-Month High Rate

Published

1 week ago

September 10, 2024

On-chain data shows the Ethereum adoption rate has hit a four-month high, which could be bullish for the cryptocurrency’s price.

Ethereum Network Growth Has Shot Up Recently

According to data from the on-chain analytics firm Santiment, the ETH blockchain has recently created many wallets. The indicator of relevance here is the “Network Growth,” which keeps track of the total number of new addresses appearing on the network daily.

Naturally, an address is considered to have been used when it made its first transaction on the chain. The Network Growth counts the daily number of such addresses that are becoming active for the first time.

When the value of this metric is high, it means the users have just opened up a large amount of new addresses on the network. This could be because of new investors coming into the market or old ones who had left earlier returning to it.

The trend can also occur when existing users open fresh addresses for stronger privacy. In general, all of these would happen at once whenever the metric registers a spike, so some adoption could be assumed to be taking place on the net.

On the other hand, the low indicator implies that not many new addresses are being created on the network, a potential sign that interest in cryptocurrency is low.

Now, here is a chart that shows the trend in the Ethereum Network Growth over the last few months:

Ethereum Network Growth

As displayed in the above graph, the Ethereum Network Growth observed a sharp spike yesterday, as 126,210 new addresses appeared on the blockchain within 24 hours.

This latest value is the largest indicator observed in more than four months, suggesting that the asset attracts an extraordinary number of users.

Generally, adoption is bullish for any asset in the long term, as a wider user base can provide a stronger foundation for future price moves to grow. In the short term, though, spikes in the Network Growth can take the coin’s price in either direction.

The graph shows that spikes in the indicator coincided with some local tops in August. These spikes were a sign of FOMO around the price surges, and excessive hype has never been positive for any asset, which may be why the tops occurred.

This time around, however, the increase in the Network Growth has come as Ethereum has been going down instead. This surge in interest while the asset isn’t doing so well could potentially help fuel a rebound.

ETH Price

Ethereum has struggled recently, as its price is currently under the $2,280 mark.

Ethereum Price Chart

Source link

Altcoins

‘Run It Back’ – Crypto Analyst Predicts Massive Rallies for Ethereum and Solana, Says October Will Be ‘Lit’

Published

7 days ago

September 12, 2024

admin

A widely followed crypto strategist believes sharp recoveries are in store for Ethereum (ETH) and its competitor Solana (SOL).

Starting with the top smart contract protocol, pseudonymous analyst Kaleo tells his 647,300 followers on the social media platform X that his bearish scenario for Ethereum is no longer valid.

The trader shares a chart suggesting that ETH has already printed a local bottom and is now gearing up for big rallies.

“The yellow line is cursed.

The white line in this thread has been goated and will continue to be goated.

Run it back.”

Looking at the trader’s chart, he seems to predict that Ethereum will rally to $4,400. At time of writing, ETH is trading for $2,383.

As for Solana, Kaleo shares a chart suggesting that SOL is now en route to a new all-time high after holding support at $120.

“The white lines were and always have been the path. Run it back.”

Based on the trader’s chart, he seems to predict that SOL will rally to a new record level at around $400. At time of writing, SOL is worth $135.63.

Kaleo also says that Q4 will be incredibly bullish for crypto after witnessing an extended corrective period over the last six months or so.

“Uptober is gonna be lit. Upvember will be even better.”

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on X, Facebook and Telegram

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

Source link

Benjamin Cowen

Here’s What Could Happen in December 2024 for Ethereum (ETH), According to Analyst Benjamin Cowen

Published

1 week ago

September 9, 2024

admin

Crypto analyst Benjamin Cowen says that Ethereum (ETH) could finally reach a price bottom sometime in December of this year.

In a new strategy session, Cowen tells his 812,000 YouTube subscribers that the unemployment rate in the US has historically topped out in December, coinciding with a bottom in crypto markets.

Given that unemployment is trending upward, and has in the past peaked in December, Cowen speculates that Ethereum could reach its bottom in the same month as well. He also notes that ETH tagged its logarithmic trend line in December in both 2016 and 2019.

“December 2024, the number of states where the unemployment rate is rising over the last six months. When does it top? Q4. Higher lows and higher highs. Lows are in April, highs are in Q4. What if it’s just trending up into a higher high in December, that ends up being backdated some type of…

It doesn’t have to be a 50% crash. There are some recessions that are more mild and aren’t like you’re Dot Com crash or your financial crisis, but it would line up with basically everything.

It would even line up with Ethereum, finally going up to its logarithmic trend line which is what it did in 2016 and 2019 in December. December of 2016 and December of 2019.”

Cowen says his bottom price target for Ethereum is $1,200, representing a nearly 50% decline from current prices.

At time of writing, Ethereum is worth $2,306.

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on X, Facebook and Telegram

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney
Shutterstock/Tomasz Makowski

Source link

DeFi

ETFSwap (ETFS) Vs. Ethereum (ETH) Vs. Solana (SOL): Which Platform is Leading The DeFi Revolution?

Published

1 week ago

September 8, 2024

admin

The DeFi space is rapidly evolving, with several key players vying for dominance. ETFSwap (ETFS) enters the fray, challenging established giants like Ethereum and Solana. As these platforms battle for supremacy, it’s becoming clear that ETFSwap (ETFS) is emerging as a formidable contender, leveraging cutting-edge utilities and super crypto technology to stake its claim at the forefront of the DeFi revolution.

ETFSwap (ETFS): A New DeFi Powerhouse In the Crypto ETF Market

ETFSwap (ETFS) is rapidly becoming a force to be reckoned with in the DeFi space, especially in the thriving crypto ETF market. This DeFi project is a comprehensive ecosystem designed to revolutionize how traders and investors engage with crypto ETFs. ETFSwap’s (ETFS) advanced technology includes a decentralized trading infrastructure, AI-powered ETF trading tools like the ETF Tracker and the ETF Screener, and ultra-fast transactions, all designed to enhance user experience and profitability.

ETFSwap (ETFS) shines with its innovative crypto ETF platform, allowing users to invest in tokenized traditional ETFs—merging traditional finance with blockchain. Its powerful ETF search and ETF filter tools simplify informed decision-making, while the staking feature boasts a remarkable 87% APR, drawing investors seeking high returns. Yield farming and a community governance model keep the platform decentralized and user-driven.

Backed by a flawless Cyberscope audit and SolidProof’s KYC verification, ETFSwap (ETFS) offers top-tier security and transparency, making it one of the most reliable platforms in DeFi. Riding on Ethereum’s robust blockchain, ETFSwap (ETFS) not only matches established players but also introduces new innovations that set it apart as a DeFi leader.

Ethereum: The Original DeFi Leader Facing New Competition

Ethereum currently holding out at $2,543.92 has long been the gold standard in the DeFi space, serving as the foundational layer for countless decentralized applications (dApps) and protocols. Its smart contract functionality revolutionized the crypto world, enabling the creation of DeFi projects that operate without intermediaries. Ethereum’s role in popularizing DeFi cannot be overstated, with projects like Uniswap, Aave, and Compound all built on its blockchain.

However, despite its dominance, Ethereum is facing challenges that could impact its leadership in the DeFi space. The network’s well-known scalability issues have led to high gas fees and slower transaction times, frustrating users and developers alike. Ethereum 2.0 promises to address these issues with the transition to a proof-of-stake consensus mechanism, but the full upgrade is still in progress, leaving the door open for competitors like ETFSwap (ETFS) to make their mark.

In this context, ETFSwap (ETFS) is emerging as a strong competitor. By leveraging Ethereum’s strengths and adding its own innovations, ETFSwap (ETFS) offers users a faster, more cost-effective alternative that retains the security and reliability of Ethereum. While Ethereum remains a powerhouse in the DeFi world, ETFSwap’s advanced utilities and user-friendly platform are making it increasingly difficult for Ethereum to maintain its dominance unchallenged.

Solana: A High-Speed Challenger With Limitations

Solana currently trading at $134.75 has made headlines as one of the fastest blockchains in the crypto space, boasting impressive transaction speeds and low fees.

These attributes have made Solana (SOL) a favorite for DeFi developers looking to build high-performance dApps. Solana’s (SOL) ecosystem has grown rapidly, with projects like Serum and Raydium demonstrating the platform’s potential to support complex DeFi applications.

Solana’s (SOL) rapid growth is marred by network outages and less decentralization compared to Ethereum (ETH), raising concerns about its reliability. In contrast, ETFSwap (ETFS) combines Ethereum’s robust blockchain with high-speed, AI-driven tools, offering superior reliability, security, and performance. While Solana’s DeFi stance is strong, ETFSwap (ETFS) presents a more compelling choice for investors seeking a platform poised to lead the DeFi revolution.

Conclusion: ETFSwap (ETFS)—The New King Of DeFi

In the race for DeFi dominance, ETFSwap (ETFS) is pulling ahead, outpacing Ethereum and Solana (SOL) with its innovative features and cutting-edge technology. Don’t miss your chance—invest in ETFSwap (ETFS) today at just $0.03846 before the presale ends, and secure your place in the future of DeFi and crypto ETF trading.

For more information about the ETFS Presale:

Visit ETFSwap Presale

Join The ETFSwap Community

The post ETFSwap (ETFS) Vs. Ethereum (ETH) Vs. Solana (SOL): Which Platform is Leading The DeFi Revolution? first appeared on BTC Wires.

Source link