Ethereum’s market cap sits at $360.37 billion which is larger than the valuation of top brands in the world. Since launch, the asset has played second fiddle to Bitcoin and has had to grapple with some of the sternest challenges that threatened its existence. The community is confident that the dark days are over and […]

With the debate on the energy consumption of various crypto blockchains raging on, a new report now shows how various top blockchain networks relate in terms of power consumption. According to a recent report by Ulrich Gallersdörfer, Lena Klaaßen, and Christian Stoll of the Crypto Carbon Ratings Institute, Polkadot topped when compared to a list […]

Earlier on Wednesday, February 2, DeFi bridge protocol Warmhole announced that the platform was hacked as hackers managed to steal a staggering 120 wETH worth $320 million. Warmhole is a DeFi blockchain bridge between Ethereum and Solana allowing users to swap SOL for other cryptocurrencies. However, the firm’s leaders have said that they have restored

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Crypto Stakers and miners could finally breathe a major sigh of relief as the IRS has decided not to tax unrealized gains derived from crypto staking or mining digital assets. This has been a major relief as many crypto proponents have been voicing their opinion against these proposed taxes over the last few months. Blockworks’

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On Wednesday, February 2, one of the most popular crypto bridge networks connecting the Ethereum and the Solana blockchains has faced a massive hack of a staggering $320 million. Warmhole has appraised this event on its Twitter handle stating that the hackers managed to steal a staggering 120K wETH or wrapped Ether. The official announcement

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The relationship between cryptocurrencies and the people at Capitol Hill has not always been smooth. It however seems the rift could soon fade away as regulation talks pick pace with some politicians already developing interest in crypto assets. According to a recent report by Unusual Whales, a platform that tracks unusual market activity, more Congress […]

Ethereum is consolidating below $2,500 against the US Dollar. ETH price could continue to move down if there is no break above $2,500 and $2,550. Ethereum managed to stay above the $2,320 and $2,300 support levels. The price is still trading below $2,500 and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $2,450 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a decent increase if there is a clear move above $2,450 and $2,500. Ethereum Price Holds Support Ethereum declined below the $2,550 support after there was no upside break above $2,700. ETH even declined below the $2,400 level and the 100 hourly simple moving average. However, the bulls were active near the $2,300 zone. A low is formed near $2,316 and the price is now correcting higher. There was a move above the $2,400 level. Ether price even climbed above the 23.6% Fib retracement level of the downward move from the $2,729 swing high to $2,316 low. It is still trading below $2,500 and the 100 hourly simple moving average. An immediate resistance on the upside is near the $2,450 level. Besides, there is a major bearish trend line forming with resistance near $2,450 on the hourly chart of ETH/USD. The first major resistance is near the $2,500 level. A clear move above the $2,500 resistance might start a steady increase. In the stated case, the pair could even surpass the $2,550 level. Source: ETHUSD on TradingView.com The next key hurdle could be $2,630. It is near the 76.4% Fib retracement level of the downward move from the $2,729 swing high to $2,316 low. More Losses in ETH? If ethereum fails to start a fresh increase above the $2,500 level, it could start a fresh decline. An initial support on the downside is near the $2,350 level. The first key support is now forming near the $2,315 level. If there is a downside break below the $2,315 and $2,300 levels, the price could accelerate lower. The next major support for the bulls may perhaps be near the $2,220 level. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing pace in the bullish zone. Hourly RSI – The RSI for ETH/USD is now just above the 50 level. Major Support Level – $2,315 Major Resistance Level – $2,500

A billionaire who successfully forecasted the bitcoin price aching sell-off to the $38K zone believes that the benchmark cryptocurrency will not be able to stage a meaningful recovery until the sinking stock market finds a floor.  Mike Novogratz, the veteran investor behind crypto-centric firm Galaxy Digital, shared his market outlook in recent tweets. Bitcoin, Ethereum, […]

There’s a major bloodbath on Satoshi Street once again as Bitcoin and Ethereum corrected over 8% each. However, New York City Mayor Eric Adams Is All Set to Buy the Bitcoin Dip later today. As announced earlier, Adams shall be converting his paycheck from U.S. Dollars to Bitcoin and Ethereum. The fund conversion will happen

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Ethereum extended decline below the $3,000 support zone against the US Dollar. ETH price could extend losses towards the $2,650 support in the near term. Ethereum extended decline below the $3,050 and $3,000 support levels. The price is trading below $3,000 and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $3,120 on the hourly chart of ETH/USD (data feed via Kraken). The pair could extend losses if there is a clear move below the $2,800 support zone. Ethereum Price Dives 8% Ethereum failed to gain strength above the $3,250 level and started a major decline. ETH formed a high near $3,272 before there was a major decline. There was a sharp move below the $3,120 and $3,050 support levels. Besides, there was a break below a key bullish trend line with support near $3,120 on the hourly chart of ETH/USD. Ether price even settled below the $3,000 level and the 100 hourly simple moving average. The price spiked below the $2,900 level and traded as low as $2,808. It is now consolidating losses above the $2,800 level. An initial resistance is near the $2,900 zone. It is close to the 23.6% Fib retracement level of the recent decline from the $3,272 swing high to $2,808 low. The first major resistance is near the $3,000 level or the 50% Fib retracement level of the recent decline from the $3,272 swing high to $2,808 low. Source: ETHUSD on TradingView.com If there is an upside break above $3,000 resistance, zone, the price could rise towards the 100 hourly simple moving average. The next major resistance is near the $3,200 level. More Losses in ETH? If ethereum fails to start a recovery wave above the $2,900 level, it could continue to move down. An initial support on the downside is near the $2,820 level. The first key support is now forming near the $2,800 level. A downside break below the $2,800 level might start another strong decline. The next major support for the bulls may perhaps be near the $2,650 zone. Any more losses could push the price towards the $2,500 level. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining pace in the bearish zone. Hourly RSI – The RSI for ETH/USD is now in the oversold zone. Major Support Level – $2,800 Major Resistance Level – $3,000

Ethereum extended decline below the $3,100 support zone against the US Dollar. ETH price must stay above $3,000 to avoid a sharp decline. Ethereum extended decline below the $3,120 and $3,100 levels. The price is trading below $3,150 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $3,140 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a decent increase if there is a clear move above the $3,200 resistance zone. Ethereum Price Keeps Struggling Ethereum failed to settle above $3,200 and extended decline below the $3,120 support zone. ETH even broke the $3,080 level and settled below the 100 hourly simple moving average. A low is formed near $3,050 and currently correcting losses. There was a minor recovery wave above the $3,100 level. Ether price climbed above the 50% Fib retracement level of the recent decline from the $3,195 swing high to $3,050 low. The first major resistance is near the $3,135 level. There is also a key bearish trend line forming with resistance near $3,140 on the hourly chart of ETH/USD. The trend line is near the 61.8% Fib retracement level of the recent decline from the $3,195 swing high to $3,050 low. Source: ETHUSD on TradingView.com If there is an upside break above the trend line, the price could rise towards the $3,190 resistance zone and the 100 hourly simple moving average. The next major resistance is near the $3,200 level, above which ether price could gain bullish momentum. In the stated case, the price could rise towards $3,300 in the near term. More Losses in ETH? If ethereum fails to start a fresh increase above the $3,150 level, it could continue to move down. An initial support on the downside is near the $3,080 level. The first key support is now forming near the $3,050 level. A downside break below the $3,050 level might even spark a move below the $3,000 level. The next major support for the bulls may perhaps be near the $2,880 zone. Any more losses could push the price towards the $2,750 level. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing pace in the bearish zone. Hourly RSI – The RSI for ETH/USD is now near the 50 level. Major Support Level – $3,050 Major Resistance Level – $3,150

In the latest report, banking giant JPMorgan has said that Ethereum’s high gas fee and network congestion are putting a big risk for the smart contracts platform. JPMorgan said that this could be a “problem for Ethereum’s valuation”. It specifically added that Ethereum could be losing its NFT market share to rival Solana which has

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