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Is Ethereum Headed Down South? Or Is This Present Downturn of Events Just One of Those?

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 Just like many cryptos recently, ETH has faced significant tanking of value. For a fact, it has dipped by 30% and currently retails at $335.81. Some Crypto proponents believe that this second most popular crypto may plummet further down if it doesn’t balance at a significant price. With the brazen release of more ponzi-schemes particularly in Asia, ETH’s prices and many more crypto prices may be tainted with disrepute and may further dip. One Analyst made it a point of note that Ethereum is presently trading far beneath a fundamental resistance level by dropping to $340.  He believes that if the crypto does not scale, it will in fact continue to drop. 

He emphasized that:

“Unless $ETH powers above this level it’s nothing but another scam bounce before lower. Not touching anything until the lows are gone or ETH show strength LTF. This drive does have the highest bullish momentum we’ve seen all day.”

It is interesting that although Ethereum is quite intrinsically stronger than ever before, it is experiencing a somewhat bearish current turn of events. A prominent researcher at Messari, Ryan Watkins believes the interpretation of ETH’s fee market suggests that it is “probably undervalued” as a capital asset, regardless of the fact that it is worth much more. 

He explained that:

“At this point ETH is probably undervalued even just considering it purely as a capital asset. Annualizing Ethereum’s last 30 day’s fees implies ETH trades at 20x earnings. Remember ETH in PoS will have a claim on those fees.”

What are your thoughts about the present state of things for ETH? Do you feel that this is just part of the normal cycle of rise and fall of asset worth or you believe that the asset will continue to plummet? Kindly let us know your thoughts.

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The Crypto Community Welcomes the Release of Ethereum 2.0

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Ethereum has stormed the crypto space with its first phase of “the next-generation proof-of-stake (PoS) Ethereum 2.0” . Beaconcha.in. disclosed that the first phase of the Serenity phase was released at 1:00 pm WAT on Tuesday, the 1st of December, 2020.  

The Ethereum developers have been setting up Ethereum 2.0 since the present proof-of-work (PoW) network was established far back in 2015. It promises the perks of a one-stop blockchain for distributed or “decentralized Computer-based Apps.”

With this latest release, the present Ethereum network will experience an evolution into a new mode of settling payments on the go. This Beacon Chain promises to establish a faster and more transparent Ethereum blockchain.

“The launch of the Beacon Chain is a huge accomplishment and lays the foundation for Ethereum’s more scalable, secure, and sustainable home, says Danny Ryan, an Ethereum Foundation Researcher. “There is still much work to do, but today we celebrate.”

Created by Vitalik Buterin, a Russo-Canadian, the Ethereum Blockchain and now the most recent Beacon Chain is the product of years of extensive research and pressure from the investors that make up the Ethereum community. Buterin saw an era when Blockchain will be utilized for more than just a digital currency but to power various decentralized Apps and functions. He was bent on utilizing the  POS Consensus Mechanism instead of the usual Proof of Work (POW) mechanism.

The Ethereum Community has patiently waited for the ETH 2.0 release which has been stalled by delays upon delays. This new program presents a whole new feature of being accessed via multiple languages. This appears to be one of the many reasons for its stalled release over the last five years.

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Explaining DASH Coins to Investors Big On Privacy

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Dashcoin (DASH) is a grand derivative of Bitcoin. Essentially it is a derivative of the derivative of Litecoin. Jokes apart,  DASH is a hardfork of Litecoin which in turn is a derivative of Bitcoin. 

Formerly dubbed Darkcoin, it was curated in January 2014 by Evan Duffield when he became frustrated with the transaction speed of Bitcoin.  DASH uses both masternodes and miners to validate onchain actions. One key feature of the altcoin is that it gives users the option of privacy when transacting.

With InstantSend, onchain actions using DASH are transacted speedily as intended by the founder of the crypto.

Investors are always quick to evaluate how the prices of their investments will do in coming years, but believe you me, there is a whole lot that goes into scaling the monetary worth of any investment  talkless of a volatile cryptocurrency. Nevertheless its functionality as a virtual currency is what triggers its market movement and causes its value to go up or plunge.

One key thing that distinguishes DASH from many cryptocurrencies is its privacy feature dubbed “PrivateSend”. Users have the option of opting for an anonymously transacted onchain action.

It appears that this altcoin is more of a functioning crypto than a store of wealth. Taking Venezuela as a case study, with the crypto scaling to be a worthy altè to traditional online payments, its perks are key factors to take note of when determining if its price will rise or fall in the nearest future. 

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As the Crypto Community Continues to Await the Belated ETH 2.0 Release, Vitalik Buterin Stakes $1.4M worth of Ether to Support the Blockchain  

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The Serenity ETH 2.0 is already seeing stakes from investors. Vitalik Buterin, founder of the Ethereum blockchain has transferred his first ETH for staking on the incoming iteration of the Ethereum blockchain.

The Ethereum Founder’s address transferred 32 ETH each on about a hundred on-chain actions. 

TrustedNodes reported that the gross sum of the crypto sent is about 3200 cryptos. The aggregate of all crypto sums sent is about $1.4 million as at the time of writing this piece.

These sums were sent via on-chain transactions to Ethereum  Serenity Phase 2.0’s just released deposit contract. This newest innovation became available in real time starting from Wednesday, the 4th of November 2020. It is a deposit contract that enables users transfer crypto from the extant proof-of-work blockchain to the about-to-drop proof-of-stake (PoS) blockchain.

The minimum requirement of staking 32 Ethers so as to scale the ETH 2.0 has since been met by the users depositing the above mentioned sums. 

About a seventeen million dollars ($17 million) or  38,693 ether has been amassed by the deposit contract as at press time. 

It will interest you to know that Point of Stake Networks (PoS) are not powered by mining unlike the current Bitcoin and Ethereum blockchains. A PoS network is enabled by stashing funds (staking) for a specified term so as to earn profits on same.

The Ethereum community continues to await the belated release of the Ethereum 2.0 Proof of Stake network projected to launch probably early December 2020.

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