However, the ETH storm has calmed down. And, at press time, ETH was hovering below the $2k resistance.
Notably, this has not stopped the social channels from being flooded with talks about Ethereum and especially the Merge.The rapid surge in social activity is visible in the social volume metric of Ethereum. As per the chart below, we can see how Ethereum has regularly maintained a high index value in the past few weeks.Meanwhile, the interest in the Proof-of-Stake transition continues to attract investors., the total value in the ETH 2.
In fact, the MVRV reached a 3-month high of 1.226 on 14 August with the previous similar high observed at 1.225 on 13 August.That being said, a group of Ethereum miners will continue to run on the proof of work mechanism. As perThis group is bound to face some challenges as Chainlink oracles and Circle’s USDC has vowed to support ETHPoW.
However, they have convinced exchanges such as Huobi, Poloniex, and BitMEX to support their ETHPoW token- which is expected to be 6% of the ETH’s value.ETH looks set to consolidate near the $2,000 resistance at least until the Merge. Undeniably, it will be under the monitor of the majority of crypto analysts because of the magnitude of the changes promised.Subscribe to get it daily in your inbox.
Well, this is how i survived the dip.. :) ... .
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Coin Coin Latest News, Coin Coin Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Can MATIC really leverage the hype around Ethereum for more upside?It has been quite an interesting week for Ethereum’s community as it prepares for a major upgrade. In fact, its impact has started spilling over into Ethereum layer 2 solutions such as Polygon now. The latter’s native cryptocurrency, MATIC, concluded the week on the back of a significant upside on the charts. MATIC’s bulls noted […]
Source: CryptoAmb - 🏆 22. / 68 Read more »
What these divergences mean for LDO’s waning buyers’ interestWith the Ethereum Merge just a few weeks away, happenings around the number one protocol facilitating the staking of ETH – Lido Finance – have become more interesting. Data from Santiment revealed that over the last few months, Lido’s native token, LDO, exhibited divergences in some of its on-chain metrics. In fact, according to Santiment, […]
Source: CryptoAmb - 🏆 22. / 68 Read more »
Ethereum [ETH]: Here’s the question of profit now that ETH is above $2KProof-of-Stake (PoS) bound Ethereum [ETH] has jumped by almost 100% in the last thirty days. Consider this – On 14 July, ETH was valued at a mere $1,086. At press time, however, the altcoin was up 6.61% in 24 hours to hit a value of $2011.80 on the charts. With investors gearing up for the […]
Source: CryptoAmb - 🏆 22. / 68 Read more »
Ethereum’s Merge will mean a lot of things, but for Loopring, it will…The Merge has been anticipated for so long and so highly that at this point, it seems to be the turning point for both Ethereum and Decentralized Finance. In fact, perhaps, contrary to popular perception, Layer 2 solutions that have already been doing the same thing The Merge would do are also set to benefit […] Guys, Im just shоcked why does it even work ....
Source: CryptoAmb - 🏆 22. / 68 Read more »
Ethereum [ETH]: Read this before you decide to cash in on that FOMOThere is undeniable excitement in the market as the Ethereum Merge draws closer. The same is evident in ETH’s price action too, with the same managing to rally back above the $2,000-price level. Now, it is easy to get caught up in the hype and the FOMO, but ETH traders should be wary of potential […]
Source: CryptoAmb - 🏆 22. / 68 Read more »