Crypto Fear & Greed Index Eyes Greed Zone Despite Bitcoin (BTC) Price Dump

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Thu, 06/04/2020 - 11:55
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Vladislav Sopov
After the upsurge past $10,300, Bitcoin (BTC) has revisited $9,500-$9,600 waters in a painful correction. But even this fall hasn't stopped the Crypto Greed&Fear Index!
Crypto Fear & Greed Index Eyes Greed Zone Despite Bitcoin (BTC) Price Dump
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The crypto Fear & Greed Index calculated by the Alternative software company revisited a three-month-high at 56 on Jun 2, 2020. Since this indicator lags one day behind the actual market sentiment, it reflected the bullish inspirations of the first day of Summer.

Big greed is on the horizon

This indicator stopped its growth only for one day after the painful Bitcoin (BTC) price drop of June 2nd. Today it is surging again reaching 54 points, which is interpreted as a 'Neutral' market sentiment.

Crypto Fear and Greed Index prints 54 points
Image by Alternative

It looks like it won't take long for the Fear & Greed Index to revisit the 2020 local high at 65 that was reached on February 13, 2020. After Black Thursday and the tremendous crypto market bloodbath, this index stayed in the Extreme Fear Zone for a long time, touching a local low at 8. 

It has been slightly outperformed by a similar CNN Business Fear & Greed Index. This investor sentiment indicator has already entered the Greed territory and is now sitting at 61 points.

Seasoned analyst and trader Crypto Birb mentioned this process in his Twitter. It looks like he is treating it as an indicator of 'Hope' or a 'Belief' phase of the market sentiment cycle.

Crypto Bird mentioned Ceypto Fear & Greed indicator
Image via Twitter

Is 'decoupling' on borrowed time?

One rule has worked perfectly amidst the ongoing market recession. Analyst Charles Edwards of Capriole Investments outlined that Bitcoin (BTC) is only correlated with stocks in times of extreme fear and extreme greed.

That said, we need to prepare ourselves for the impressive crypto market capitalization rally, since the stocks' bull run is nowhere near its end.

The crypto Fear & Greed Index by Alternative utilizes different types of market inputs to determine the sentiment of investors. It tracks market volatility, market volume, social media tendencies, Bitcoin (BTC) price dominance and Google Trends indicators for crypto-focused searches.

Previously, the Alternative also used data from surveys, but this section has been switched off.

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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

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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.)