Ethereum Updates

Ethereum has lost its $2k support zone hitting a local low of $1,700 today However, Ethereum’s top 10 non-exchange whale addresses keep holding Other Ethereum investors have sent $500M worth of ETH to crypto exchanges in the last week Ethereum looks set for its very own death cross in mid-July Yesterday, Ethereum lost its crucial

DeFi users have stuck with Polygon despite lower gas fees on Ethereum DeFi on polygon continues to experience record growth due to its affordability Total DeFi users on MATIC have exceeded 420k On June 15th, the total value locked on Polygon hit an all-time high of $11.85 Billion DeFi users that have interacted with Polygon (MATIC)

The Polygon (MATIC) development team has opened discussions for the implementation of EIP-1559 on its network MATIC has a fixed supply therefore implementation of EIP-1559 would mean restructuring payouts The development team proposes the implementation of EIP-1559 on Polygon without burning the base fee They propose that the base fee be sent to the foundation

Ethereum percent addresses still in profit has hit a 5-month low of 90.73% The number of Ethereum addresses in loss has also hit a 5-month high of 5.542 million Ethereum miner revenue has also reached a 3-month low of $1.121 Million 187k ETH has been sent to crypto exchanges in the last week and could

Bitcoin’s dominance is once again on the rise and at 45.89% Such a rise usually causes a reallocation of capital away from Ethereum and alts, back to Bitcoin Ethereum risks dropping to $1,800 due to the increased influence of Bitcoin $2k remains the support level to watch for Ethereum A rise in Bitcoin’s dominance could

Daily active addresses on Ethereum have dropped by 11.1% in the last week In comparison, Bitcoin’s active addresses have only dropped by 0.7% in the same time period Mining revenue for Ethereum has also dropped by 10% Ethereum’s mean transaction volume has also hit a one month low Goldman Sacks plans to launch Ethereum futures

After an impressive 6 months in the crypto markets, Ethereum could be gearing up for a cooldown Timothy Peterson cautions that Ethereum may be in for a rough few months This is based on historical performances of Ethereum during the summer months Ethereum’s $2k support is the level to watch moving forward If $2k fails,

Ethereum Classic’s Magneto Hard-fork will happen at block 13,189,133 The Ethereum Classic upgrade is estimated to occur on July 21st ETC’s Magneto upgrade will implement ECIP1103 alongside Ethereum’s Berlin upgrade components The Ethereum Classic (ETC) Network will undergo a network upgrade around the 21st of July. The upgrade, dubbed Magneto, will happen at block 13,189,133

OKEx has integrated Polygon (MATIC) The integration opens the doors to faster and cheaper transfers of ETH and ERC20 tokens to the Polygon network 23 digital assets will benefit from the new efficiency brought about by integrating Polygon MATIC’s 50-day moving average is providing adequate support at the $1.30 price area The crypto exchange of

The Ethereum 2.0 deposit contract has gained over 1M ETH since late April ETH2.0 deposit contract now holds 5.429 million Ethereum worth $13.697 Billion The Ethereum London hard fork is still on track for a July launch and one reason ETH investors keep staking their coins The London hard fork will introduce 5 Ethereum Improvement

Ethereum’s average gas fee has dropped to levels last seen in mid-2020 It now costs roughly 26.9 GWEI to complete an Ethereum transaction Ethereum’s daily transaction count has also dropped to mid-2020 levels Ethereum miner revenue has also reached a 3 month low All these metrics point towards a drop in network activity on Ethereum

Ethereum whales holding 1k to 10k ETH are still holding their coins The Ethereum whales started accumulating ETH in October 2020 Ethereum’s daily address activity is on the decline which is bearish Trader sentiment towards Ethereum continues to be negative and could lead to a capitulation event Ethereum whales holding 1,000 to 10,000 ETH are

Crowd sentiment towards Ethereum is still negative Negative sentiment usually precedes a price increment by Ethereum $2,800 is still the level to break for Ethereum to return to bullishness Historically, Ethereum’s gains during the second half of any year, have been lower than the first half Ethereum has a 50:50 chance at ending the month

Ethereum balances on crypto exchanges have hit a 2-year low of 12.447 million ETH Ethereum outflows from crypto exchanges have exceeded 1 million ETH in the last 30 days The outflow of ETH from exchanges continues despite the slowdown in the price of Ethereum ETH is still having a hard time breaking the $2,800 resistance

The total value locked on Polygon (MATIC) grew by 1,102% in the month of May Address activity on Polygon also grew by 4x in the same time period Polygon’s growth has been fueled by DeFi apps migrating from Ethereum and new projects Polygon (MATIC) has experienced remarkable ecosystem growth during the just concluded month of

Ethereum could be on track to surpass Bitcoin in terms of market cap Ethereum’s market cap is currently half of Bitcoin’s Ethereum will thrive due to continual use-case such as DeFi  Ethereum should consolidate for a while between $2k and $4k The team at Bloomberg has released their monthly Crypto Outlook Report in which they