Bitcoin (BTC) Dominance to Fall, These Three Altcoins to Benefit: Trader

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Thu, 06/25/2020 - 13:39
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Vladislav Sopov
Anonymous trader and analyst Parabolic Thies (@KingThies) predicted a rise in the ETH/BTC price and lists three altcoins that may benefit from a BTC decline
Bitcoin (BTC) Dominance to Fall, These Three Altcoins to Benefit: Trader
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Seasoned trader and analyst who goes by Parabolic Thies (@KingThies) has tracked the performance of crypto behemoths (top altcoins) and made a couple of predictions about their prices against Bitcoin (BTC).

Upsurge is in the cards for Ethereum (ETH)

According to a prediction posted in a tweet by Parabolic Thies, the Ethereum (ETH) price is preparing for a decisive upmove against Bitcoin (BTC). This forecast is based on the Market God integral indicator designed by said trader.

Parabolic Thies supposes Ethereum (ETH) may grow againist Bitcoin (BTC)
Image via Twitter

As showcased on his 1D chart, the ETH/BTC price is going to exit an 'Ascending Triangle', which was formed in mid-March. The 0.028 level is key for this upsurge.

This level is very close to the yearly high of the ETH/BTC price. So, if it manages to blast above 0.028, this would definitely mean bullish control over the price.

Also, he supposes that Ethereum (ETH), Litecoin (LTC) and XRP are three altcoins that would benefit most if Bitcoin (BTC) plummets.

Bitcoin (BTC) dominance at a crossroads

It looks like another prominent analyst, Qiao Wang, formerly from Messari, doesn't agree with the trader. He sees Bitcoin (BTC) dominance rising more than 90% during the ongoing market recession. This maximalist opinion is supported by the anonymous trader, TheMoonCarl.

Also, Mr. Wang claims that the euphoria surrounding decentralized financial applications will re-organize the list of the Top-10 cryptocurrencies by market cap. And XRP and Litecoin (LTC) will be the first to leave the premier league, Mr. Wang predicts.

Blockchain evangelist Max Keiser of Russia Today is another expert who is highly skeptical of the performance of the crypto behemoths.

In his recent exclusive interview with U.Today, he highlighted the 'exit scam' essence that reflects the ideas behind the majority of popular altcoins.

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About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

2,500,000 Ethers Locked in Ethereum 2.0 Deposit Contract as ETH Rejected From $1,250

News
Fri, 01/15/2021 - 18:02
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Vladislav Sopov
Ethereum 2.0 enthusiasts deposited whopping sum in its contract launched six weeks ago
2,500,000 Ethers Locked in Ethereum 2.0 Deposit Contract as ETH Rejected From $1,250
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While crypto markets are trying to get out of the most painful correction in this bullish cycle, the Ethereum 2.0 deposit contract accomplishes another crucial milestone.

ETH2 deposit contract surpasses $3,000,000,000 level

According to leading Ethereum network observer Etherscan, the Ethereum 2.0 deposit contract (0x00000000219ab540356cBB839Cbe05303d7705Fa) allocated more than 2.5 million Ethers. New 32-ETH stakes are transferred to it every minute.

ETH2 deposit contract breaks above $3B
Image by Etherscan

As the correction of the Ethereum (ETH) price ended, ETH is changing hands at $1,225: the $1,250 level was too difficult for bulls to conquer. Meanwhile, even at press time, it is worth almost $40,000 to join the club of Ethereum 2.0 stakers.

Therefore, the USD-denominated value of assets locked in the contract surpassed $3 billion for the first time ever and keeps surging.

It should be noted that Ethereum 2.0’s deposit contract went live on Dec. 1, 2020, heralding the start of ETH2 Pase Zero or Beacon Chain, the inaugural stage of Ethereum 2.0.

Ethereum 2.0 “entry tickets” become really expensive

At press time, more than 52,267 addresses transferred money to the deposit contract.

Ironically, Black Thursday in Crypto (March 13, 2020) was the most convenient time to join Ethereum 2.0 staking with Ether at $95. Today, Ethereum (ETH) enthusiasts should pay 13 times more to have a minimum amount of Ethers required for staking.

Ethereum 2.0 is a proof of stake (PoS) iteration of the Ethereum (ETH) protocol. It replaces mining by staking and splits the whole Ethereum (ETH) network into several interconnected sub-chains (shards).

According to Staking Rewards analytical dashboard, annualized rewards for ETH staking are estimated between 10.4 and 10.6 percent.

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About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)