$ETHUSDT: Merge incoming, uptrend in the daily$ETHUSDT is interesting, I've been bullish relatively vs Bitcoin for a while, but got out of my latest attempt at riding the pair trade in minor loss of 0.15% yesterday. I had secured some gains since my last publications before, and tried buying back after a dip. See related ideas for the last post. There is a lingering chance of forming a monthly uptrend in $ETHBTC, so I do like the idea of having some $ETHUSD exposure (although smaller than my Bitcoin long given the higher volatility and risk).
Fundamental events are interesting, as we approach the timeline for the Merge of the Beacon chain (secured by POS ) and the old chain secured by POW, which will occur at some point between now and the next 9 days give or take. Following this change, issuance of Ethereum will go down dramatically as most people know, and given the changes introduced with EIP1559, could eventually even become deflationary over time as fees are burnt at a greater rate than coins are created. Staking can result in an APR of 4.5-7% potentially, which might make it attractive if inflation rates come down over time. For price to form a long term uptrend, a larger than 10 month bar signal must fire, which isn't yet doable, but depending on how things evolve, could be achievable after October. Just a low probability scenario for now, but given the low risk of buying down here vs potential upside in that scenario, is something that I'd evaluate over time. As more and more data points confirm we are safe to hold, we can let the trade run and capture a big trend landing us huge reward to risk multiples. Hence my interest in being relatively early with buying strength after big declines, when people are not as interested as at the peak euphoria we had in April 2021 or in Dec 2021.
Let's see how it evolves, owning $ETH spot with say 5% of your capital might be a good decision here. Be wary of the average price level at which people staked coins a while back, that level can act as supply and slow down or even reverse any advance, if price were to test it next.
Best of luck!
Ivan Labrie.
Eip1559
ETH's "Burn" Model and its Relationship with Politics/CharitiesIn today's inflationary economy where money printing reigns supreme, the idea of "burning" money to maintain a currency's worth stands out as counterintuitive and different. It's also highly illegal - creating your own money supply (counterfeit) or destroying them are usually both felony offenses in most fiat systems right now.
In a way the ability to control a currency's money supply is the biggest draw of crypto on a fundamental level. What happens when we give that power to the people instead of relying on the government to do it for us? When the recession hits later this year, people are going to have a lot of time to ponder that question further.
Vitalik Buterin, to his credit, paved the way towards a "burn charity" model. The "fairest" way to redistribute wealth isn't to start a nonprofit or charity - it's for people to simply destroy their wealth and remove it from the ecosystem. This makes everyone else's money worth a little bit more as a result, always in favor of those who have less.
In a way, it functions like an Universal Basic Income, raising the economy from the bottom up, as Andrew Yang claimed during his US presidential run in 2020. (Vitalik supports UBI too btw.) It is the "fairest" way to redistribute wealth.
The "burn charity" model gets interesting when applied to politics and sociology because it highlights the fundamental problems with human nature in a very clear way. If the end goal is to destroy money supply, it explains why people might get appealed to violent ideas such as "eat the rich" or the destruction of private property - it is striving towards that same idea of redistribution of wealth through the destruction of money in itself. (Luckily in crypto, we can do this in a peaceful way, which politicians should be talking more about, imo.)
On the flip side, fiat has always been against "burn charities" -- you can't create nor destroy fiat money (not that there's a strong will to do that right now by anyone) and the problem with redistribution through taxation is that the government can't be trusted to handle the money in a responsible way. (A "fair" government would take money they seized/collected and simply destroy them, not keep them, imo.)
All of these ideas seem outlandish and radical to our sensibilities right now, which might explain the reasons why good ideas like UBI has had trouble passing in political arenas, despite its popular appeal. People intuitively know that it's a good thing, but often can't explain why. But maybe the idea of "burn charities" might get us a little closer to what we want. Couldn't hurt, either way.
And crypto is the ideal place to experiment with these ideas that are untenable in the real-world due to political realities right now. But I hope that the #Web3 folks will see the opportunity that's there and push the envelope further - it may be our only hope, after all. 🙏
twitter.com
ETH/BTC Pair Set to Make New ATH?Ethereum is steadily gaining on BTC.
As shown in the chart, we have a lengthy bull flag breakout targeting a move to approximately 0.177 for ETH on the BTC pair.
With the EIP-1559 Ethereum burn activated, there have already been over 70,000 Ethereum burned.
Couple the deflationary component with Ethereum 2.0 staking, and the ETH circulating supply is going to drastically decrease.
I expect an ATH for Ethereum against BTC by end of year.
Thanks!
- CA$HLESS
Uniswap Will Grow: Support & Resistance Everybody's favorite Unicorn in Cryptocurrency. Like most of the other alt-coins we've been hitting major resistance levels before the next major step-up. We formed a short term horizontal channel so we're moving sideways a bit. We'll see how long this holds. Once we break this resistance level of $31.30 we will be grinding towards re-testing all time highs in the weeks or months to come. If we don't hold our support we will most likely being going back down to the $20 levels.
There's a lot to be excited about in the next upcoming months for cryptocurrency. We're about to bullishly divergence on the weekly MACD which indicates some more positive momentum will be coming underway. Coins such as Uniswap will perform very well this cycle. It is still king of the Decentralized Exchanges and just recently become the first DEX to provide $1 Billion in fees for liquidity providers. Also I believe the effects of EIP-1559 Ethereum burning will have positive price impacts on Uniswap as time goes on. Uniswap is already a heavily adopted and functioning cryptocurrency with an actual operating product. The adoption and use case can only grow from here. Stay stacking!
Much peace, love, health, and wealth!
$6000 Ethereum Next? Long Consolidation Period FirstGreen arrows highlight the ideal scenario for recovery. There are 3 levels I am currently watching - $2100, $2900, and $3500. We’ve already reclaimed the $2100 support. Broke out of a huge falling wedge recently on June 28th.
Here are a couple scenarios I’m thinking of:
Scenario 1: Reclaim $2900 with a 4HR close above. Next, reclaim $3500 with another 4HR candle, leading up to an eventual break of the ATH of $4400. We’re headed for $6000 ETH at this point.
Scenario 2: Losing $1700 support – could get messy fast, leading us to the $1400's. We absolutely do not want to lose $1400.
Declining volume with Daily RSI in neutral land at 50 – price stuck in a range without losing big support. Means that this asset is still in the consolidation phase with no clear trend yet. So be super patient, nothing’s happening at the moment. The end of this phase typically leads to an explosive breakout/trend in either direction.
Large ETH holders and/or institutions milking the proof of stake design for revenue - this will definitely continue to increase the buying pressure. Ethereum 2.0 improvements fixing the high gas costs could lead to more NFT activity on the network. In short: multiple factors lead to taking ETH tokens out of the circulating supply. The fundamentals are looking better than ever.
Daily MACD lighting up green and still holding on to the 200D EMA. Plenty of room for upside. Get ready.
Major hard fork upgrades since inception & impact on pricesIf you find the analysis useful, please like and share our ideas with the community. Any feedback and suggestions would help in further improving the analysis!
In a few hours, block number 12,965,000 will be mined on the Ethereum network and the ‘ London Hard Fork ’ upgrade will be implemented. As of writing this post, the data from Etherscan shows that block 12,963,799 just got added to the network.
A lot of hype has been doing the rounds since this upgrade was announced. The hype became even more resounding over the past couple of weeks.
In this post, we will explore what these hard fork upgrades mean for the network. We will explore all the major hard fork upgrades to the Ethereum network since its inception, and the corresponding impact on the prices.
Layman’s language for the definition of Fork: Blockchain networks such as Ethereum have a community. This community agrees or disagrees with a change in the network. It is often done to ensure that the network functions as smoothly as possible. In some cases, these hard forks are implemented to protect the network against potential harm, which we will subsequently discuss.
Types of forks
Codebase Forks : Copy of the original code, to allow for minor tweaks without developing the whole blockchain code from scratch.
Blockchain Forks : Branching or splitting a blockchain’s whole transaction history, causing the new network to develop a distinct identity.
Soft Forks : Gradual software upgrades—bug fixes, security checks, and new features.
Hard Forks : A permanent modification on the blockchain
We will discuss the Hard Forks that have occurred since the inception of the Ethereum network.
✔ Ice Age : It was implemented on September 8, 2015
In order to guarantee to switch from PoW to PoS within 16 months after Ethereum’s initial release, an exponential difficulty increase was added that would noticeably slow down new blocks being mined after about a year. After that time, the network would reach an “Ice Age,” where the difficulty would exponentially increase until it would be too high for anyone to find a block.
The Ice Age gets manually delayed by a subsequent hard fork every time.
Price saw an approximate 10% jump prior to the upgrade
✔ Homestead : It was implemented in March 15, 2016
It went live at block number 1,150,000. ETH's price jumped more than 1477% in the first 3 months of 2016. 14.77x return to investors in a matter of 3 months!
✔ The DAO : It went live on July 20, 2016
This upgrade was to save the network from further damage. A vulnerability on the network allowed an exploiter to walk away with 3.6 million ETH. To fix this vulnerability, the DAO hard fork was implemented. It also created the well-known cousin of Ethereum, the ETC or Ethereum Classic.
✔ Constantinople AKA St. Petersburg : It was implemented in February 28, 2019
Price dropped more than 16% from the recent peak.
✔ Atlantis : It was implemented on September 12, 2019
This September 2019 hard fork event required all software users to upgrade their clients in order to stay with the current network. Enhancements included better security, stability, and network performance for higher volumes of traffic.
✔ London Hard Fork : It will be implemented on August 5, 2021
EIP-1559 aims to strengthen the ecosystem of Ethereum — which is known for its smart contract capabilities that power DeFi, or decentralized finance, apps and NFTs, or non-fungible tokens among other improvements.
( Have added the image to the analysis, so that it can be downloaded and referenced)
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Keep supporting:)
-Mudrex
Ethereum a New Evolution Brewing Still Time to Own At Least One!I know people are starting to sleep on cryptocurrency. Not too much heavy buying and not too much heavy selling. The state of the market is in limbo but these times present great opportunities. If you don't own at least one Ethereum now will be the time to seriously consider making it a goal. If you're trying to build wealth in cryptocurrency with the least amount of risk Ethereum is essential to your journey.
I have new Fibonacci levels starting from the swing high of $4395 on May 12th to the swing low of $1695 on June 26nd. Ethereum has been trading between $1695 and $2300. I'd say that Ethereum under $2000 is a steal. Of course these prices can all change depending on Bitcoins mood. If Bitcoin drops to the lower 20ks as many people suggest then Ethereum can easily come down below $1,000. So be cautious as the market sentiment is still extremely fearful.
However, the upside potential is extremely strong considering the developments taking place within Ethereum . Post EIP-1559 ( Ethereum becomes deflationary), continued DeFi expansion, and the NFT innovation are some of the catalyst that will have a major positive impact on Ethereum . Even Fox news channel and CNN are invested and experimenting in NFTs which is shocking to me.
I believe we will have stagnant price action until there's a decisive move in the market to the upside or further downside. We have been moving sideways for some time which can indicate we're in a heavy accumulation phase in the market. Looking at on chain metrics from Santiment the whale supply held by top addresses have been increasing at an alarming rate since May 22nd. Smart money knows wassup. Ethereum is still very undervalued.
Cheers much peace, love, health, and wealth as always! Keep building that crypto wealth for you and your family!
ETH/USD - Wyckoff accumulation pattern, RSI-14 supportedHello,
As we regularly visit the 'oversold area' on RSI-14, this suggest accumulation on the market.
CME expiration date could suggest the the "spring area' in the pattern.
CME expiration date is right after the launchpad of testnet of EIP-1559.
The final 'London hardfork' with full EIP-1559 implementation stats 14. July, however right after testnet we will know if this implementation work properly... If it does, guys... (and ladies!) SKY IS THE LIMIT!!!
Best, as always,
Paweł ;-)
What is Sharding? The Politics Behind Crypto and ETH2“One of the biggest problems I’ve found with our project is not the technical problems, it’s problems related with people,” Vitalik Buterin said in a recent interview.
Why the scalability problem isn't easy to solve, and why people's political outlooks will affect the outcomes of the crypto race in the next few years.
"Crypto follows his routine" Ben MillerBitcoin in general follows his routine and the whole crypto eco system
Like you see, we have made a nice support on the 200 Moving Average with eth/btc correlation, which would consider go back around 3700 dollar per Ether(under pic) and going dominate BTC in the long term.
What suprised me is that Bitcoin always follow his routine and never follows people their opinion or FUD like they're saying every year" Bitcoin will be banned in China". China pays US newspaper to scare people so after they can buy more in the dip and let people dive in(more liquidation) . Those misinformations are just here to stay to scare you out. Even when people fomo'ing, Bitcoin will always follow his traditional routine.
Like, share and follow.
The Graph (GRT) Moving Sideways In AccumulationGetting a nice sideways cruise with The Graph (GRT). We've been holding a sturdy support level above $1.00 since February's run up to $2.89. Then we cooled down and hit a low of $1.13 on April 23rd. And since April 23rd it seems like we have a slight bounce back the upside. In between $1.33 - $1.80 seems to be a nice area to scoop up some before we inevitably retest those all time highs. There's some good run up.
The fundamentals behind The Graph are very strong. From Coinmarketcap I emphasize "The Graph is working to bring reliable decentralized public infrastructure to the mainstream market." It is projects like these that do well with the narrative of this bull run. It is also an ERC-20 token so it will be very interesting to see how Ethereum's EIP1559 effects the whole ecosystem after July. GRT is a good long term project.
Just my opinions and observations. As always much love, peace, health, and wealth.
Uniswap (UNI) Forming Road to $50 then $100? V3 & EIP1559 Everybody's favorite Unicorn. Yes I said it. We're on our Unicorn path to $100. The reality is another +130% increase from these price levels will put us at a $100 Uniswap. And if we continue to hold this bull trendline we may be there by next year. With these bull market conditions another 1.3x isn't too farfetched.
We still have yet to see the full post network effects from the highly anticipated V3 upgrade coming into Uniswap tomorrow. Another huge factor in Uniswap's price I believe is Ethereum's EIP1559 effect on Uniswap. Ethereum's EIP1559 essentially means every transaction on Ethereum will burn ETH gas FOREVER. Meaning the supply of Ethereum will be diminished every year. I can only imagine how that will effect the price of Ethereum and Uniswap in the long term once Ethereum switches over to proof of stake and Ethereum becomes a scarce asset.
Uniswap is already 52% through it's circulating supply and its hard capped at 1,000,000,000. The total value locked ( TVL ) has grown exponentially by over $6 billion dollars since October of 2020. Uniswap is only at a $22.5 billion dollars as a global decentralized Exchange which to me is undervalued for the value Uniswap brings to entire crypto space.
As DeFi and Ethereum grows so will Uniswap. I can literally go on for days about Uniswap because there's a lot of upside. I'm very bullish about Uniswap this cycle and still holding my bag throughout the rest of the year.
Cheers! Much peace, love, health, and wealth!
Yearn Finance (YFI) About to Retest All Time HighsSteady upwards growth I love the way this chart looks. We've been holding a bullish trendline since early November of last year, YFI is already 100% through its circulating supply so no more YFI coins will come into existence, total value locked (TVL) is increasing every month, and the Bitcoin dominance is dropping. Also we're about to bullishly divergence on our daily MACD. YFI's Q1 reports for
I personally believe once Ethereum's EIP1559 is enacted in July we will see another DeFi mania in the months to come afterwards. One of the biggest DeFi aggregators for yield farming. Keep Yearn Finance on your radar.
Much peace, love, health, and wealth.
Ethereum (ETH) Ridiculously Undervalued Own at Least 1 Ethereum Everybody always ask me which cryptocurrency has the most potential and upside this cycle. My answer is if you're looking for performance start stacking Ethereum or if you don't have at least one Ethereum start making that a worthy goal before it's too late.
When I look at the Ethereum / Bitcoin pairing chart we still have a long journey to reach the ETH/BTC all time highs of the previous 2017 cycle. It's crazy to even think at one point Ethereum was valued at 100,000,000 satoshis in April 2017 which is practically 1 Bitcoin . Ethereum is currently only 4.6 million satoshis.
As of right now the average American does not have enough in savings to even afford 1 Ethereum at $2560. According to a GOBankingRates 2019 savings survey found that nearly 70% of Americans have less than $1000 in an emergency savings. It was only about a year ago when Ethereum was less than $300. I've been saying this for a while now that Ethereum is second evolution of the internet and the decentralized global internet. Also EIP 1559 is tentatively scheduled for July which essentially states every transaction on Ethereum will forever burn Ethereum. Meaning Ethereum will start to become scarce in the near future.
Even at $2560 Ethereum is a still as it's primed to be a 5 digit cryptocurrency. Bitcoin is digital gold while Ethereum is digital oil. The ETH/BTC run-up will be epic and one for the history books this year. Please don't sleep on Ethereum before it's too late. Make it a goal to own at least 1 Ethereum.
Remember I'm no financial advisor. Much peace, love, health, and wealth!
You're still early investing in DENT Today i am looking to the correlation between Dent and Ethereum pair which is very bullish and if you want to invest and have any doubts, you are REALLY EARLY to go in now.
I see a 5 X from here easily.
The 50 and 100 MA is almost reaching each other on weekly basis to crossover and go higher.
Left right shoulders on weekly basis.
What do you think early adopters ?
Like, share and thank me later.