Ethereum (ETH) Price 'Explosive Upmove' Revealed by Investor Dan Tapiero

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Thu, 06/04/2020 - 13:08
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Vladislav Sopov
Dan Tapiero, a vet of global macro investing and founder of Gold Bullion International investment conglomerate, reveals why the Ethereum (ETH) price may rally very soon
Ethereum (ETH) Price 'Explosive Upmove' Revealed by Investor Dan Tapiero
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Dan Tapiero noticed in a tweet that the Ethereum (ETH) price has broken above its 11-month level of resistance. He is guessing, whether the potential catalysts for a future upsurge are sufficient for further growth.

Searching for the catalysts

Mr. Tapiero revealed a chart of how Ethereum (ETH) price growth is gaining power. It is ready to reclaim the huge stronghold of the bears. The crucial resistance level is printed by the line between two peaks, of June 2019 and February 2020.

Dan Tapiero asks about ETH catalysts as price breaks above resistance
Image via Twitter

Fascinated by this perspective, Mr. Tapiero asked Crypto Twitter about the potential catalysts that may push the Ethereum (ETH) price forward in mid-term horizons.

Mostly, the comments emphasized the importance of the DeFi allocations upsurge and the movement of capital from Bitcoin (BTC) investors. Also, some speakers highlighted the significant number of 'noobs' entering crypto investments right now. 

Mr. Tapiero is very skeptical about the spike of the Ethereum Grayscale Trust (ETHE) stock price. He believes it has nothing in common with properly manned crypto adoption:

I take your point on noobs entering when I see something as totally ridiculous as the Grayscale trust premium. Horrible to encourage retail to own this thing at 800% premium. Not a great way to encourage adoption....into products that do not reflect a real price...embarassing.

Technology may be involved

Besides purely speculative reasons, the Ethereum (ETH) price is influenced by a number of great technological milestones reached by Ethereum (ETH) itself and some projects built atop this chain.

For instance, as U.Today Crypto News reported yesterday, Ethereum (ETH) 2.0 coordinator Danny Ryan published a long-read about its progress. This impressive text will strengthen the bullish narrative of the Ethereum (ETH) community.

Also, Ethereum-based OMG Network has inked a partnership with Tether (USDT). All ERC-20 Tether (USDT) transactions on Bitfinex will be confirmed through the Plasma scalability solution by OMG.

Another layer-two Ethereum (ETH) scalability solution by Matic Network has gone live in a mainnet version. Thus, the first days of Summer are particularly fruitful for the Ethereum (ETH) ecosystem in terms of technological progress.

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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.)