Ethereum (ETH) Price Refuses to Pump Now, But May Follow Mid-Caps, Analysts Say

News
Fri, 06/19/2020 - 14:28
article image
Vladislav Sopov
Ethereum (ETH) price growth is lagging behind the ongoing DeFi token rally. Ethereum (ETH) ecosystem contributors are figuring out whether that is cause for concern
Ethereum (ETH) Price Refuses to Pump Now, But May Follow Mid-Caps, Analysts Say
Cover image via stock.adobe.com
Read U.TODAY on
Google News
Contents

The global cryptocurrency community is excited by the rapid price upsurge of some native assets of decentralized financial instruments. COMP, the governance token of Compound Protocol, is inching closer to Binance's CoinMarketCap Top-20 with almost triple-digit daily gains.

Ethereum (ETH) price lags

At the same time, the Ethereum (ETH) blockchain is remaining the nucleus of decentralized financial vehicles. So, with such a splendid use-case, it should also skyrocket. However, it is demonstrating a pale performance.

Ryan Sean Adams waits for Ethereum (ETH) price rally
Image via Twitter

Ryan Sean Adams, a seasoned cryptocurrency investor, is confused by this dissonance. According to his tweet, Ethereum (ETH) 'went parabolic' with its last globally recognized use-case, ICOs of 2016-2017.

So, it should follow the same pattern with the expansion of DeFi,  but it has failed. Mr. Adams asked his Twitter audience about the possible reasons for this discrepancy.

Anthony Sassano, marketing officer in Set Protocol, EthHub community co-founder and host of Into the Ether podcast, believes that Ethereum (ETH) and Bitcoin (BTC) prices will spike after the exhaustion of the mid-cap token rally.

Mr. Sassano added that large-cap assets like Bitcoin (BTC) and Ethereum (ETH) print other sorts of cycles such as low-caps and mid-caps. The last two categories are subject to much more explosive pumps.

Ethereum (ETH) price targets $1,000

According to the most popular Australian blockchain evangelist Alex Saunders, Ethereum (ETH) needs nothing but time to reach full steam. And it could still revisit four-digit waters in the next rally.

As covered by U.Today Crypto News, prominent blockchain researcher Chris Burniske announced that we're only approaching the epoch of the DeFi rise.

His views are shared by seasoned investor and CEO of Three Arrows Capital, Su Zhu, who treats DeFi as a more sustainable and reliable catalyst for further Ethereum (ETH) price growth.

article image
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
article image
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
Cover image via stock.adobe.com
Read U.TODAY on
Google News
Contents

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.

article image
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.)