Ethereum (ETH) Price Volatility Remains Similar to Bitcoin's (BTC) Despite DeFi Hype, Skew Analysts Say

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Tue, 06/23/2020 - 12:06
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Vladislav Sopov
Ethereum (ETH) holders have become increasingly confused as the second cryptocurrency remains stagnant amidst insane ETH-based DeFi performance
Ethereum (ETH) Price Volatility Remains Similar to Bitcoin's (BTC) Despite DeFi Hype, Skew Analysts Say
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Pale Ethereum (ETH) price gains are nowhere near the splendid performance of decentralized financial service assets. The latest releases of on-chain data insights look like one more cause for concern for Ethereum (ETH) bulls.

Volatility spread inches sub-zero zones

As revealed by the Skew analytic team, which provides in-depth analyses of various processes in the cryptocurrency industry, Ethereum's (ETH) volatility almost matches that of Bitcoin (BTC) despite the situation in both major crypto industry camps being fundamentally different.

Skew: Ethereum (ETH) price is as volatile as Bitcoin (BTC) one
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Skew analysts announced that volatility on the Ethereum (ETH) options market is only 2% higher than on Bitcoin (BTC) markets. To compare, the yearly average level of this indicator exceeds 10%. 

During the Black Thursday market panic, Ethereum (ETH) was 45% more volatile than its competitor. Some traders, in a semi-ironic manner, noticed that Ethereans wouldn't again have a more attractive opportunity to buy the minimum 32-ETH stake required for validating in Ethereum 2.0.

Fundamentally, the Ethereum (ETH) price has an enormous quantity of catalysts. The upcoming roll-out of Ethereum 2.0, the rapid increase of the gas limit and, primarily, the insane hype around the DeFi segment could make its price go through the roof.

Bitcoin (BTC) doesn't have anything like that. It failed to surge after May 10th, demonstrating only fake 'Bart Simpson' rallies and hasn't managed to stay in five-digit zones for long. Its only anticipated technical milestone, the Schnorr-Taproot cryptography release, may not even be implemented by Q4, 2020.

It's the calm before the storm

However, analysts foresee that Ethereum (ETH) may make up for lost time in the mid-term perspective. Legendary investor Dan Tapiero is predicting an 'explosive upmove' of the Ether price due to strong technological and trading fundamentals.

Also, Dutch cryptocurrency trader and analyst Michael van de Poppe published a couple of charts suggesting that Ethereum (ETH) may reach $300 by the end of the Summer.

Prominent blockchain evangelist from Australia, Alex Saunders, has set even more ambitious targets for Ethereum (ETH). Discussing its prospects with Ethereum (ETH) devs and investors, he suggested that the four-digit level is in the cards.

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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.)