Ethereum (ETH) is gaining prominence as Bitcoin maintains its recent highs. Despite the fact that ETH is currently 36% below its all-time high of $4,878 from 2021, analysts anticipate that the second-largest cryptocurrency by market capitalization may be preparing for a significant shift. Related Reading: XRP Gains Momentum: Whale Activity Points To $15 Breakthrough Ethereum’s ecosystem is a hive of activity, with a surge in institutional investments, rising ETF interest, and increasing transaction volumes. From the 1.1 million recorded three months ago, the daily transaction volumes on Ethereum have climbed to 1.22 million, a notable rise according to the most current statistics from IntoTheBlock. Bitcoin has been the star of this rally, but what about Ethereum? Historically, Ethereum has been one of the first assets to benefit from profit rotations after Bitcoin’s move. Currently, Ethereum’s on-chain activity shows evenly spaced potential resistance levels, but in… pic.twitter.com/amkbZmtEyo — IntoTheBlock (@intotheblock) November 21, 2024 Despite the fact that the increase is not substantial, it indicates that network usage is consistent. This consistent activity serves as the foundation for Ethereum’s long-term value and underscores its ongoing significance in the crypto sector. Institutional Investors Place Bets In the past week, institutional buyers bought more than $1.4 billion worth of Ethereum (ETH), which caused a stir in the crypto community. During the same time frame, $147 million has been put into Spot Ethereum ETFs. This shows that people are becoming more optimistic about the future of ETH. #Ethereum whales have bought over 430,000 $ETH in the last two weeks, worth over $1.40 billion! pic.twitter.com/n7iTTADuax — Ali (@ali_charts) November 14, 2024 The activity surge continues; trading volumes for Ethereum ETFs reached a record $1.63 billion last week, representing a 44% weekly increase. According to analysts, this increase is consistent with the patterns observed in Bitcoin ETFs, which experienced an initial period of stagnation, followed by a period of sustained growth. In response, Ethereum’s price went through the roof, rising by 25%, which was the biggest weekly gain in six months. Many people see these changes as signs that Ethereum is gaining speed, which could possibly lead to more benefits. Shifting Landscape: Layer 2 Solutions While there are positives, growth in Ethereum’s network sends out a mixed signal. New ETH addresses created are lower than those seen in previous bull markets. The reason for this is seen by experts as Layer 2 options such as Base. Because these technologies are built on top of Ethereum’s infrastructure, transfers can happen more quickly and for less money. This makes it less important to directly connect to the main Ethereum chain. Nevertheless, Ethereum’s significance has not been eclipsed by Layer 2 growth. Tokens continue to be indispensable in the decentralized finance (DeFi) and NFT ecosystems. In reality, this expansion strengthens Ethereum’s fundamental function while simultaneously increasing its scalability and accessibility. Related Reading: Upbit Listing Sends BONK Skyrocketing 67% For A Fresh ATH In Memecoin Mania ETH is becoming less correlated with BTC. The 180-day BTC-ETH Pearson correlation is at a three-year low. A 10% rise in #Bitcoin could result in only a 3% gain for #Ethereum. Just because BTC is strong doesn’t mean you should buy ETH. Each asset is now following its own path. pic.twitter.com/4Dn4QoInXo — Ki Young Ju (@ki_young_ju) November 19, 2024 Ethereum Dissociates From Bitcoin Ethereum’s autonomy from Bitcoin is becoming increasingly apparent. The 180-day correlation between the two cryptocurrencies has plummeted to a three-year low, falling below 0.5. This change, according to analysts, indicates that Ethereum is now more influenced by its distinctive market dynamics than by the price fluctuations of Bitcoin. The necessity of independently assessing Ether’s potential is increasing as it continues to pursue its own course. Ethereum is demonstrating that it is more than just Bitcoin’s counterpart — it is forging its own path in the crypto world, whether through the adoption of Layer 2 solutions, institutional interest, or increasing ETF activity. Featured image from DALL-E, chart from TradingView
The Solana ecosystem extends its recent explosion of activity with new highs for its TVL, Open Interest and SOL price action.
FTX Liquidator Transfers RAY worth $3.79M to Binance Deposit after receiving 1.853M RAY from an unmarked address; 6.466M RAY remains in FTX-linked wallets. Read original article on coincu.com
On November 23rd, COINOTAG News reported a significant transaction analyzed by on-chain data expert @ai_9684xtpa. The analysis revealed a particular cryptocurrency address that strategically swapped ETH for WBTC six months
Despite a 26% drop in SEC enforcement actions compared to 2023, the agency still showed effectiveness in remediating financial fraud. Read original article on coincu.com
The post XRP Price Prediction For November 23 appeared first on Coinpedia Fintech News XRP has recently shown a strong and sustained upward price movement, up by more than 65 percent in the last seven days. XRP is currently trading above the crucial $1.50 mark and has gained almost nine percent in the last 24 hours. The altcoin has been consistent in its upward momentum, especially following the news …
The crypto industry views the SEC Chairman's resignation as a turning point, with Gensler stepping down in January, paving the way for new regulatory leadership. Read original article on coincu.com
The post Bitcoin Genius? Kiyosaki Backs Saylor’s Bold Strategy appeared first on Coinpedia Fintech News Robert Kiyosaki has never been one to sugarcoat his opinions, and his latest defense of Michael Saylor proves it. The Rich Dad Poor Dad author lashed out at critics of Saylor’s Bitcoin strategy, calling one “Mr. Big Mouth with No Balls.” Yes, he went there. But Kiyosaki didn’t stop at name-calling—he explained why he thinks …
Binance expands its compliance team to meet the growing needs of the crypto industry and its user base. Compliance Remains Vital for Binance By the end of the year, Binance, one of the world’s largest cryptocurrency exchanges, plans to have 645 full-time compliance staff members—a 34% increase from November 2023—as it continues to expand its
Trump’s Revolution could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did. Trump’s Revolution (TRUMPREV), a new Solana memecoin launched today, is set to explode over 13,000% in price in the coming days. This is because TRUMPREV is set to soon be listed on numerous crypto exchanges, according to reports. This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up. Currently, Trump’s Revolution can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to make huge