Author: msmark

Ethereum is currently trading at $2,290 and is on a marginal increase of $0.17 in the past week. Although lacking much action and trading around $2,300 for most of the week, on-chain data regarding outflows has revealed the current sentiment among traders. According to data from on-chain analytics company IntoTheBlock, $500 million worth of ETH was withdrawn from centralized exchanges this week, bringing the total outflow in the past month to $1.2 billion. Surge In Ethereum Outflow From Exchanges  Ethereum went on an unforeseen price growth subsequent to the approval of spot Bitcoin exchange-traded funds in the United States. Consequently,…

Ethereum (ETH), the world’s second-largest cryptocurrency by market cap, has seen a significant exodus from centralized exchanges in recent weeks, with data suggesting a growing preference for holding the asset outside of trading platforms. At the time of writing, ETH was trading at $2,289, down 0.7% in the last 24 hours, but managed to gain 1.6% in the last week, data from Coingecko shows. Ethereum Outflow Hits $1.2 Billion According to blockchain analytics firm IntoTheBlock, a staggering $500 million worth of ETH exited exchanges last week, contributing to a total outflow of $1.2 billion for the entire month of January.…

Solana-based Jupiter airdrop has generated substantial excitement, driving decentralized exchange (DEX) trading activity on the layer1 blockchain network beyond that of Ethereum.Data from DeFillama shows that Solana-based DEXs facilitated trades totaling $1.14 billion in the last 24 hours, surpassing the approximately $1.13 billion traded on Ethereum-based platforms during the same period.This achievement underlines the remarkable growth and widespread adoption witnessed within Solana’s DeFi ecosystem, capturing the crypto community’s attention. Notably, last December marked the first instance of Solana DEXs outpacing Ethereum, propelled by heightened memecoin and stablecoin activity.While the daily figures demonstrate Solana’s momentary lead, it’s essential to note that…

Ethereum developers are gearing up to set a mainnet launch date for the Dencun upgrade on Feb. 8, marking a pivotal moment for the blockchain with the introduction of several Ethereum Improvement Proposals (EIPs), including the much-anticipated proto-danksharding. The upgrade aims to significantly reduce transaction costs on layer-2 solutions, heralding a new era of efficiency and scalability for Ethereum. In an update shared on Reddit on Feb. 1, core Ethereum developer Tim Beiko reflected on the successful testing of the Dencun upgrade. The All Developer Execution Call (ACDE) 180 shed light on the smooth execution of the Sepolia fork on…

A trader managed to turn five Ethereum (ETH) into $3.3 million buying and selling PORK token. In the latest display of trading acumen, a savvy market participant has executed a stunning financial maneuver transforming a mere five Ethereum — valued at approximately $12,000 — into a staggering $3.3 million fortune within the span of only three days. Analysts at Lookonchain closely followed this trader’s strategic play, noting that the windfall was achieved through a timely investment in the newly launched PepeFork (PORK) cryptocurrency. Details emerging from Lookonchain reveal that the trader’s foray into PepeFork’s market began a mere seven minutes…

Solana price moved above the $100 milestone on Jan. 30; rising defi volumes and positive sentiment surrounding the upcoming Jupiter airdrop could propel it further. On Jan. 30, Solana’s price briefly broke the $100 barrier for the first time in 2024. However, barely 48 hours later, on Feb. 1, crypto prices dipped after Fed Chief Jerome Powell made a statement hinting at postponing rate cuts beyond March 2024 as widely predicted.  Solana price fell 12.5% on Fed Chief Jerome Powell’s statements In the aftermath of the Federal Open Market Committee (FOMC) meeting, Powell’s statement triggered a significant pullback across crypto…

According to a report by Hacken, almost half of the crypto hacks in 2023 occurred due to access control issues. The crypto market faced losses totaling $1.9 billion due to hacks in 2023, reflecting a significant 93.6% decline compared to 2022, primarily influenced by the Terra collapse, as per a research report from Hacken, a blockchain security auditor. Despite this decrease, analysts express concern about the dynamics of 2023, emphasizing the quantity and nature of incidents. While the scale of attacks may appear smaller than in 2022, Hacken highlighted a 14% increase in attacks over the past year, identifying access…

Today, on his 30th birthday, Ethereum co-founder Vitalik Buterin shared a moving post reflecting on the last couple of years of his life and the evolving crypto space that made him re-evaluate his role within the community. The End Of An Era For Vitalik Buterin Vitalik Buterin, who just three years ago was making all the headlines as the youngest billionaire at 27, reflected on his post about the role he used to have as a young developer in the crypto space. He recalled spending the last two years speaking with a new generation that has taken leading roles within…

A crypto analyst, Eric, believes Ethereum (ETH) could spike to $20,000 in the upcoming bull run. The analyst said the potential launch of spot Ethereum exchange-traded funds (ETFs) in the United States will propel this upswing. Ethereum To $20,000 Possible In a post on X, Eric cited Ethereum’s historical tendency to mirror Bitcoin (BTC), albeit with a one-cycle lag. In the previous bull market, the analyst noted that Bitcoin surged 22-fold from $3,100 to $69,000. Therefore, if Ethereum follows a similar trajectory, reaching $20,000 would be a realistic possibility. Ethereum price trending upward on the daily chart | Source: ETHUSDT on…

Ethereum has been making a fresh attempt at recovery recently. Here’s what on-chain data suggests regarding if this run can be sustainable or not. Ethereum Network Growth And Utility Have Both Gone Up Recently According to data from the on-chain analytics firm Santiment, the ETH blockchain has displayed an encouraging trend in Daily Active Addresses and Network Growth recently. These two indicators are used to track the utility and growth of the chain. The “Daily Active Addresses,” the first of these, measures the unique number of addresses that are taking part in some kind of transaction activity on the blockchain…