Ethereum Tests $2K Support as RSI Plunges to Multi-Year Low

Ethereum’s Big Test: Holding Onto $2,000

The world of cryptocurrencies is full of ups and downs, and Ethereum (ETH) is facing a big challenge right now. Ethereum’s price has been going down, and it’s now trying to stay above the important $2,000 level. Let’s find out why this is happening and what might happen next.

What’s Going On in the Market?

Ethereum’s price is under pressure because there are more ETH tokens available, and more people are holding their ETH on exchanges, which means they might sell it soon. In the past month, there are about 66,350 more ETH tokens in circulation, worth around $138 million at today’s prices[5]. This means there’s more ETH available but not enough people want to buy it, which pushes the price down.

Also, the amount of ETH on exchanges has gone up by 2% in the last week[5]. When more ETH is on exchanges, it’s easier for people to sell, which usually makes the price go down.

What Does the RSI Say?

The Relative Strength Index (RSI) is like a tool that helps us see if a cryptocurrency is being bought too much or sold too much. Recently, Ethereum’s RSI showed that it’s being sold a lot, which means it might be a good time to buy. But the RSI isn’t the only thing we should look at; we need to consider other technical and real-world factors too.

Ethereum’s Price Rollercoaster

Ethereum’s price has been going up and down a lot lately. On March 3, it went up to $2,550 but then went back down[1]. On March 5, it went down below $2,000 but then came back up to $2,220[3]. The $2,000 level is really important because if Ethereum can stay above it, it might start to go up again. But if it goes below $2,000, it could keep going down.

What’s Next for Ethereum?

Even though Ethereum is having a tough time right now, there are still opportunities for people who want to invest for a long time. In the past, when a lot of Ethereum holders were losing money, it usually meant that Ethereum’s price would go up a lot later[5]. Some analysts think that Ethereum could do really well in 2025 if people start liking it more[5].

Ethereum’s Big Moment of Truth

Ethereum is at a really important point right now. We need to look at technical things like the RSI and real-world things like how many ETH tokens there are to decide what will happen next. The short term might be bumpy, but long-term investors are watching closely to see if Ethereum can start going up again. As the market keeps changing, how Ethereum handles these challenges will decide its future.

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Sources:
– Coinfomania
– CoinStats
– The Currency Analytics

Ethereum’s MVRV Ratio Plunges to October 2023 Lows

Ethereum’s MVRV Drops: A Closer Look at the Lowest Levels Since October 2023

Ethereum, the second-biggest cryptocurrency, has seen its Market Value to Realized Value (MVRV) ratio reach its lowest point since October 2023. This drop is causing some buzz in the crypto world, making us wonder about Ethereum’s current state and what’s in store for the future. Let’s break down what this means for investors and the crypto market as a whole.

Understanding the MVRV Ratio

The MVRV ratio is like a helpful tool that tells us if an asset is overpriced or underpriced. It compares the market value of an asset to its realized value, which is the price at which the coins were last traded[1][2]. A low MVRV ratio can suggest that the asset might be a good buy.

What’s Happening in the Market Now?

Ethereum’s MVRV ratio has been going down, reaching levels we haven’t seen since October 2023. This could mean that Ethereum is underpriced, which could be a chance for investors to buy. In the past, when the MVRV ratio was low, Ethereum’s price went up a lot[5].

On-Chain Metrics and Market Mood

Some on-chain metrics, like the 365-day MVRV ratio, have been giving signals that it might be a good time to buy Ethereum. For example, when this ratio went below -13.80% in September 2024, Ethereum’s price went up by 88% over the next four months[5]. Also, 1.09 million ETH leaving centralized exchanges is seen as a positive sign because it reduces selling pressure[5].

Technical Analysis

Right now, Ethereum’s price is stuck between $2,600 and $2,850. If it goes above $2,850, it might reach $3,000. But if it drops below $2,600, the price could go down even more[4]. The Money Flow Index (MFI) shows that there’s no strong buying or selling pressure[4].

Looking Ahead

Even though some metrics show that Ethereum might not be doing well, the overall outlook is mixed. The recent price rebound and on-chain signals suggest that Ethereum could have a recovery rally[5]. But the market can be unpredictable, and external factors can also affect Ethereum’s price.

So, Is This a Turning Point for Ethereum?

In short, Ethereum’s MVRV ratio reaching its lowest level since October 2023 means there are both challenges and opportunities. Some signs suggest that Ethereum might be underpriced and could grow, but others point to uncertainty in the market. As investors wait for signs of a rebound, Ethereum’s future will depend on broader market trends and external economic factors.

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Sources:
– ccn.com
– bitcoinist.com
– thecurrencyanalytics.com
– thecoinrepublic.com
– coinstats.app

Ethereum’s Pectra Upgrade Progresses; Mainnet Launch Uncertain

Ethereum’s Pectra Upgrade: A Big Step for Scalability and Security

The world of cryptocurrency is excited about Ethereum’s upcoming Pectra upgrade, a major step towards better scalability, security, and ease of use. This upgrade, coming in March 2025, is the third big change since Ethereum switched to a Proof of Stake (PoS) system in 2022[1]. As Ethereum keeps improving, the Pectra upgrade promises to make a huge difference in how the network works and how users interact with it.

What is the Pectra Upgrade?

The Pectra upgrade combines parts from the Prague and Electra upgrades, focusing on making the network work better and giving users a better experience. It includes important features like account abstraction, smart contract improvements, and better staking methods[1]. One big change is increasing the validator staking limit from 32 ETH to 2,048 ETH, making Ethereum’s staking system more efficient and user-friendly[1][4].

Key Features and Changes

Account Abstraction and Smart Contract Improvements

    • Account Abstraction: This feature makes it easier for users to interact with the network by letting external accounts act like smart contracts during certain transactions. It supports more types of transactions and improves the overall user experience[1][4].
    • Smart Contract Optimizations: These changes reduce gas fees and increase how many transactions the network can handle at once, making the network more efficient. This is great for users and encourages more developers to build on Ethereum[1].

Better Staking Mechanisms

    • Increased Staking Limit: The upgrade increases the staking limit for each validator from 32 ETH to 2,048 ETH. This helps reduce network congestion and makes staking more efficient. It also makes it easier for big validators to manage their stakes[1][4].
    • More Withdrawal Options: Pectra gives stakers more flexible withdrawal options, making staking easier and more efficient[1].

Testing and Launch on the Main Network

The Pectra upgrade has been successfully tested on the Sepolia network, which is a big step towards its launch on the main network[4][5]. However, some issues on the Holesky testnet have raised questions about when the mainnet release will happen. Developers are discussing whether more testing is needed to ensure the network stays stable before the mainnet upgrade[4].

Reactions from the Market and Community

The successful test on the Sepolia network has generated a lot of interest in the crypto community. Ethereum’s price went up after the announcement, showing that traders are optimistic about the upgrade[5]. People are talking about how the upgrade could affect transaction speeds and costs, which might influence trading strategies and market predictions[5].

Conclusion: A New Era for Ethereum

A Big Step Forward

The Pectra upgrade is a big step forward for Ethereum, promising to make it more scalable, secure, and user-friendly. As the crypto world keeps changing, Ethereum’s commitment to innovation keeps it as a leading smart contract platform. Even though the mainnet launch is still uncertain due to ongoing testing, the successful test on the Sepolia network is a big milestone. As Ethereum gets closer to reaching its full potential, the Pectra upgrade shows how dedicated the network is to continuous improvement and innovation.

Sources:

Ethereum’s Pectra Upgrade Faces New Hurdle: Sepolia Testnet Issue Arises

Ethereum’s Big Upgrade: Pectra

Ethereum, a popular cryptocurrency, is planning a big upgrade called Pectra. This upgrade is supposed to make Ethereum faster, safer, and easier to use. However, it’s been having some problems on a test network called Sepolia. These issues might delay the main upgrade and make some people worry about Ethereum’s reliability.

What’s the Big Deal about Pectra?

The Pectra upgrade is a really important change for Ethereum. It combines two other upgrades, Prague and Electra, to make the network work better and give users a better experience. Here are some cool things it’s supposed to do:

    • Account Abstraction: This makes it easier for users to interact with Ethereum and do more types of transactions.
    • Smart Contract Optimizations: These changes will help reduce the cost of transactions and let more of them happen at the same time.
    • Enhanced Staking Mechanisms: Right now, you need 32 Ethereum to start “staking,” which is like saving your Ethereum to help keep the network secure. With this upgrade, you’ll only need 2,048 Ethereum, making it easier for bigger validators to help out.

What’s Going Wrong?

Even though the Pectra upgrade sounds great, there are some challenges to think about:

1. Problems on Sepolia Testnet

Recently, there was a problem on the Sepolia testnet because of a special deposit contract. This caused some issues with how transactions are included in blocks. Even though the problem was fixed, it’s still not clear when the main upgrade will happen.

2. Worries for Fintech and Crypto Payments

If Ethereum has reliability issues, some fintech startups might not want to use it. They might look for other blockchain platforms instead, like Polygon or Arbitrum.

3. Centralization Risks

Letting bigger validators stake more Ethereum could lead to fewer people controlling the network, which goes against Ethereum’s goal of being decentralized.

4. Developer Challenges

Making sure the upgrade works with old stuff and handling more complex programmable wallets will be tough tasks for developers.

What’s Next for Ethereum’s Pectra Upgrade?

Even with these challenges, the Pectra upgrade is still a really important step for Ethereum. It wants to make Ethereum the best smart contract platform by making it faster and safer. To make this happen, Ethereum needs to fix the current issues and think about the potential risks.

Sources

Ethereum Eyes $3K as ERC-20 Coin Surges 1400% Ahead of Coinbase Debut

Ethereum’s Quest to Reclaim $3,000 and the Rise of an ERC-20 Coin

Welcome to the World of Cryptocurrency

The world of cryptocurrency is like a rollercoaster ride – full of twists, turns, and unexpected surprises! Right now, Ethereum (ETH) is trying to break through a big barrier, and a lesser-known coin is making a big splash. Let’s explore what’s happening in the crypto world.

Ethereum’s Big Challenge: The $3,000 Barrier

Ethereum has been stuck in a tight range lately, with its price bouncing between $2,700 and $3,300[5]. The $3,000 mark is a crucial point. If Ethereum can break through it, we might see its price jump to $3,500[5]. But if it can’t, the price might drop to $1,500, which is a strong support zone[3].

But here’s some good news! On-chain data and technical indicators suggest that Ethereum might break out in the next few weeks. Exchange outflows have hit a 23-month high, which means people are buying and holding onto Ethereum instead of selling it[5]. If buyers can push the price above $2,800, we might see a big rally[5].

A Surprising ERC-20 Coin

While Ethereum is trying to break through the $3,000 barrier, a lesser-known ERC-20 coin is making waves with a massive 1,400% increase in value[1]. This is especially impressive because it’s happening before the coin gets listed on Coinbase, a major cryptocurrency exchange. When a coin gets listed on a big exchange like Coinbase, it usually attracts more attention and demand, which can boost its price even more.

The success of this ERC-20 coin shows that smaller cryptocurrencies can grow a lot when they get noticed by more people. Factors like getting listed on big exchanges, having a supportive community, and having unique uses can help these coins increase in value quickly.

What’s Next for the Crypto World?

The overall mood in the crypto world is cautious right now, with people watching key resistance levels and market indicators closely. Ethereum’s ability to break through the $3,000 barrier will be a big test of its strength[3]. Meanwhile, the rise of the ERC-20 coin reminds us that there are many opportunities in the crypto world.

As the crypto world keeps changing, both Ethereum and smaller ERC-20 coins will be in the spotlight. The story of Ethereum trying to reclaim $3,000 and the ERC-20 coin’s success before its Coinbase listing are exciting things to watch in the coming weeks.

A New Chapter in Cryptocurrency

The crypto world is always full of new stories and surprises. Ethereum’s quest to break through $3,000 and the remarkable rise of an ERC-20 coin are just two of the many things happening right now. As investors and enthusiasts, keeping an eye on these developments can help us understand where cryptocurrency is headed.

Sources:

Crypto Holdings: A PolynomialFi Discussion

Cryptocurrency Control: A Simple Guide

Imagine you have some money. You can keep it in a bank, right? But what if someone else has the key to your bank box? They could take your money without you knowing! The same thing can happen with cryptocurrency, like Bitcoin or Ethereum. That’s why it’s important to have the key to your own crypto box, or in other words, own your private keys.

Why Private Keys Matter

Private keys are like the secret password to your crypto. If you don’t have them, someone else could take your crypto. Just like a bank robbery, but in the digital world! A big crypto exchange was hacked, and $100 million was stolen. That’s why having your own private keys is so important.

What’s Happening in the Crypto World?

Someone important in the crypto world, PolynomialFi, reminded everyone about private keys. After that, people started moving their crypto to places where they can control it themselves. This is called decentralized finance, or DeFi. The trading of DeFi coins like AAVE and UNI went up, but the trading on regular exchanges went down.

Bybit Hack: A Big Problem

Recently, a place called Bybit was hacked, and almost $1.4 billion in Ethereum was stolen! Some people wanted to fix this by rolling back the Ethereum network, like undoing a mistake. But others, like PolynomialFi, said this could cause big problems for Ethereum in the future.

What’s Next for Cryptocurrency?

In the future, people will probably want to have more control over their own crypto. They’ll use places where they can keep their private keys safe, like DeFi. This way, they won’t have to worry about someone else taking their crypto. It’s like keeping your money in a safe at home, instead of a bank.

So, remember: if you want to keep your crypto safe, make sure you have your private keys. It’s your money, so you should be the one in control!

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Sources:
– blockchain.news
– eprint.iacr.org
– tradingview.com
– tradersunion.com

Crypto Custody Boost: Sygnum & Deribit Team Up with Fireblocks

Keeping Crypto Safe: Sygnum and Deribit Team Up

In the fast-changing world of cryptocurrency, keeping your digital money safe is super important. Recent big hacks, like the $1.4 billion theft from Bybit, show us that we need strong ways to store and protect our crypto[2]. So, Sygnum, a top digital asset bank, has joined forces with Deribit, the world’s biggest crypto derivatives exchange, to keep your assets safe while you trade[1]. They’re using a cool new technology called “Off Exchange” from Fireblocks to make this happen[2][3].

How Sygnum Protects Your Assets

Sygnum’s special custody platform, Sygnum Protect, helps keep your assets safe by separating the trading and storage parts. This means your money is stored off the bank’s balance sheet, making it harder for hackers to steal and safer if the exchange has problems[1]. This is especially important for big traders who want to keep their assets safe.

Key Features of Sygnum Protect

    • Bank-Level Security: Your assets are stored in a real bank, with super strong security to protect against smart hackers[1].
    • Off-Balance Sheet Custody: Your money is kept separate from the bank’s money, so if the exchange has problems, your assets are still safe[1].
    • Flexible Collateral Options: You can use different types of assets as collateral, like regular money, crypto, or stocks, to make trading easier[1].

How Fireblocks’ “Off Exchange” Service Helps

The partnership with Fireblocks lets Sygnum and Deribit use the “Off Exchange” service. This means you can mirror your assets on Deribit’s platform without actually moving them. So, you can trade without putting your money at risk on the exchange[2][3]. Fireblocks keeps your assets safe in special wallets, and on-chain settlement adds another layer of protection against fraud and bankruptcy[1].

Benefits for Big Traders

    • Access to Deep Liquidity: You can use Deribit’s huge liquidity pool, with over $1 trillion in trading volume in 2024, without putting your assets at risk[2].
    • Reduced Risk of Exchange Defaults: By keeping your assets off the exchange, you don’t have to worry about the exchange going bust and losing your money[1].
    • More Control and Transparency: You can see and control your assets even when you’re trading on the exchange[3].

Conclusion: A New Way to Keep Crypto Safe

Sygnum and Deribit teaming up to use Fireblocks’ technology is a big step forward in keeping crypto assets safe. This partnership gives traders the security they need and the liquidity they want. As the crypto world keeps changing, collaborations like these will help keep our digital money safe.

Sources:

Ethereum’s ETH Drops 11%, Ether Shorts Gain $68M on 50x Leverage

Crypto’s Big Bet: The $68 Million Ether Short

In the fast-moving world of cryptocurrency, traders often take big risks to make big profits. Recently, an unknown trader made headlines by making nearly $68 million from a high-risk bet on Ether (ETH)![5]

The Big Short: A High-Risk, High-Reward Move

The trader opened a short position when Ether was at $3,176, betting on a price drop. They shorted 70,131 ETH, worth over $155 million at today’s prices![5] Shorting means selling borrowed assets, hoping to buy them back cheaper later. This trader’s bet paid off big time, with unrealized gains of almost $68 million and extra earnings of $3.2 million in fees![5] But it’s risky – if Ether’s price jumps above $3,460, the position could be wiped out![5]

Ether’s Price Rollercoaster

Ether’s price has been going up and down a lot lately. After reaching $2,550, it fell to $2,002, a drop of 8% below its price before![3] This volatility is partly due to worries about a trade war between the U.S. and China, and weak demand from big investors.[4] In the last 24 hours, Ether dropped by 15%, losing recent gains and falling to levels not seen since last November![1][2] This sharp decline led to the loss of nearly $165 million in leveraged long positions![2][4]

What People Think and Technical Analysis

Right now, people are feeling bearish about Ether. Polymarket bettors think there’s a 76% chance Ether will drop to $1,900 by the end of March![2][4] Technical analysis shows Ether is facing strong resistance at $2,160 and support at $2,000.[2] If it falls below $2,000, it could drop further, with potential support levels at $1,880, $1,750, and $1,640.[2]

The Pectra Upgrade: A Hope for Recovery

Ethereum’s upcoming Pectra upgrade could help Ether’s price. This upgrade aims to make the network faster and more efficient.[5] While it might not cause an immediate price surge, it could help Ether’s price in the long run by reducing selling pressure.[5] However, the upgrade’s success depends on fixing current technical issues, which might delay its launch.[5]

Navigating the Turbulent Crypto Market

In conclusion, the recent short trade on Ether shows the high risks and potential rewards in the cryptocurrency market. As Ether faces bearish pressure, traders need to stay alert, watching for signs of recovery or further decline. The Pectra upgrade offers hope for future growth, but its impact will depend on how well Ethereum handles its technical challenges. For now, the market remains volatile, with Ether’s price movements closely tied to broader economic factors.

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Sources:
– Cointelegraph
– CoinCentral
– Blockchain.News
– TokenPost
– BTCC

Dubai Crypto Regulator Approves RWA-Friendly L1 Blockchain’s VASP License

Dubai’s Big Step into Crypto: A New Chapter for Blockchain and Real-World Assets

Dubai has become a major player in the world of cryptocurrency regulation. It has a clear and complete set of rules that attract many digital asset companies. Recently, the city’s Virtual Assets Regulatory Authority (VARA) gave a special license to Mantra Finance, a platform that uses blockchain to turn real-world things like art or real estate into digital assets[2][4]. This is a big deal for Dubai and the world of crypto.

What’s a VASP License?

A VASP license lets companies legally work with digital assets. It’s like a passport for crypto businesses. With this license, Mantra Finance can now expand its services in the UAE and other countries in the Middle East and North Africa[2][4].

Real-World Asset Tokenization: The Next Big Thing

Mantra Finance focuses on turning real-world things into digital assets. This is a new way to connect the world of crypto with traditional finance. By using blockchain, Mantra can create new financial products that follow the rules[5]. This makes it easier for people to invest and also keeps them safe.

Dubai’s Rules: A Place for Innovation

Dubai’s rules for crypto are clear and cover everything. This makes it a great place for companies to try new things while staying safe and transparent[2][4]. This helps people trust the system and encourages new ideas.

Blockchain and Real-World Assets: A Powerful Combination

Using blockchain to turn real-world things into digital assets can change how we think about money. It can make it easier to buy and sell things, lower the cost of investing, and make transactions more transparent[5]. This is big for big investors who want to follow the rules.

Looking Ahead: A New Era for Crypto and Blockchain

In short, Dubai giving Mantra Finance a VASP license is a big step forward for using blockchain to turn real-world things into digital assets. It shows Dubai wants to encourage new ideas in crypto while making sure everything is done right. As crypto keeps changing, Dubai’s leadership in making the rules will likely shape the future of finance.

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Sources:
– cointelegraph.com
– cryptopotato.com
– coindesk.com

Animoca Brands: Revenue Surges as AI Slashes Costs 12%

Animoca Brands: How AI Boosts Earnings and Saves Money

In the fast-paced world of tech and money, companies are always looking for new ways to make more money while spending less. Animoca Brands, a big player in digital games and blockchain, has shown how using AI can really help. By using AI to make their operations better, Animoca Brands cut their costs by 12%, which helped them make a lot more money[2][4]. Let’s look at how Animoca did it and why AI is important for tech companies.

Making More Money with AI

Animoca Brands made $314 million in bookings in 2024, which is 12% more than the year before[2][5]. This is because they used AI to make their business run smoother and save money. By using AI, Animoca was able to cut their operating costs by 12%, from $246 million in 2023 to $217 million in 2024[2]. Saving money like this helped Animoca make more profit and be more competitive in a tough market.

Many Ways to Make Money

Animoca Brands makes money in many ways, like from their Digital Asset Advisory (DAA) business, projects they’ve helped start, and their investments. The DAA part of their business did especially well, making $165 million, which is 116% more than the year before[2]. This shows that Animoca is good at seeing new trends in digital assets and blockchain technology.

Working with Others to Use AI Better

Besides trying to save money, Animoca also works with other companies to use AI even better. In late 2024, they made a deal with an AI platform called Virtuals and worked with FLock.io, a community-driven AI platform[2]. These partnerships show that Animoca really believes in AI and thinks it’s the key to their future success.

Looking Ahead

Animoca Brands thinks they’ll keep doing well in the future, especially if the US becomes more friendly to crypto[3][4]. The company’s co-founder and chairman, Yat Siu, thinks that good things happening in the rules for crypto will help Animoca grow even more[4]. As the tech world keeps changing, companies like Animoca are ready to take advantage of new opportunities in AI, blockchain, and digital assets.

Using AI for Long-Term Success

In short, Animoca Brands’ story shows that using AI can help companies make more money and save money at the same time. By using AI in smart ways, companies can not only do better now but also be ready for the future in a world where tech is always changing.

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Sources:
– blockchaingamer.biz
– cointelegraph.com
– advfn.com
– cryptonews.com.au