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Ether could enter the pattern's breakout stage in the days leading up to the highly-anticipated Merge. Ethereum's native token Ether (ETH) shows the potential to log major gains versus Bitcoin (BTC) with the ETH/BTC pair nearing yearly highs.  Ether paints classic bullish reversal pattern The bullish cues come from a classic technical pattern called the inverse head and shoulders, which develops when the price forms three troughs below a common support level known as neckline. The middle trough, or head, is deeper than the other two, called the shoulders.  An inverse head and shoulders setup resolves after the price breaks above the neckline while accompanying an increase in trading volume. As a rule of technical Analysis , its profit target comes at a length equal to the maximum distance between the head's lowest point and the neckline.  So far, Ether has painted a similar pattern, and it now awaits breakout above the neckline, as illustrated in the chart below. ETH/BTC w

Besides fake ETH 2.0 tokens and malicious token airdrops, crypto users should also be on the lookout for staking pools offering attractive staking yields. Scammers are likely to use excitement around the Ethereum Merge to launch new scams aimed at newbie crypto users, PolySwam CEO Steve Bassi has warned.  The Ethereum Merge is expected to take place within the next 24 hours. Speaking to Cointelegraph, Steve Bassi, founder, and CEO of PolySwarm said these Scams could come in the form of fake ETH 2.0 tokens, fraudulent mining pools, and fake airdrops. PolySwam is a decentralized cybersecurity marketplace that connects cybersecurity experts to projects and companies through the use of bounties. Fraudulent staking pools The Ethereum Upgrade marks the transition from the current proof-of-work (PoW) consensus mechanism to proof-of-stake (PoS). Bassi said that for many Ether (ETH) holders, joining a staking pool will be their only way of reaping yield from staking rewards if they don’t hav

A US court has officially called both Bitcoin (BTC) and Ether ( ETH ) commodities in the dismissal of a lawsuit against DeFi platform Uniswap. Specifically, a New York judge stated it would not “stretch the federal securities laws to cover the conduct alleged” in the class action suit.  The complaint was directed at Uniswap for “scam tokens” that had been issued on the protocol. Subsequently, the judge dismissed the allegations that the decentralized crypto exchange was to be held accountable for the scams that harmed investors. Moreover, calling both BTC and ETH commodities in the official filing. JUST IN: 🇺🇸 US court calls #Bitcoin and ETH commodities while dismissing a lawsuit against Uniswap DeFi platform. — Watcher.Guru (@WatcherGuru) August 31, 2023 Also Read: Only Bitcoin Can be Called a Commodity, Says SEC Chair Gary Gensler US Court Calls Bitcoin and ETH Commodities in Uniswap Lawsuit Dismissal The ongoing conflict between the digital asset industry and US

September wrap-up: How did Ethereum and Bitcoin-based products fare? Ethereum, Bitcoin AuM see a major breakdown in September: Details This Ethereum-based product lost 83.9% of its AuM in September Ethereum, Bitcoin: Avg. ETP daily volumes drop below $100M this month September was quite a rough month for the crypto market . Ethereum’s Merge failed to instigate any recovery, and demand for crypto and crypto-related products remained sloppy. A recent report from CryptoCompare brought to light that the assets under management of Bitcoin-based digital asset products fell 10.7% to $15.6 billion. As a result, its market share declined to 69.4%. Meanwhile, Ethereum-based digital asset products witnessed “one of their most challenging months,” per CryptoCompare. The assets under the management of Ethereum-related digital asset products fell 19.3% to $5.49 billion. Retrospectively, it now accounts for a 24. 5% market share . The overall picture also remains bleak. Per CryptoCompar

Jordan Belfort. Source: a video screenshot, The Wolf of Wall Street / YouTube Jordan Belfort, the former stockbroker known as 'The Wolf of Wall Street,' claims that he lost more than $300,000-worth of crypto in a hack last year, and that he moved all his assets from exchanges into cold storage. Belfort, who is also notorious as a convicted financial criminal, went on Yahoo Finance Live last week to discuss, among other things, the fallout of the FTX collapse and crypto market sell-off. Asked about how much he himself trusts crypto exchanges at this point, given that he has "skin in the game," Belfort suggested that it's none.  "So I got hacked, actually. I lost about, was it 300-and-something thousand dollars on [crypto wallet] MetaMask last year." He did not specify how he got hacked, when exactly, how much in crypto was taken, or if there was (or is) any investigation into the matter.  That said, Belfort claimed that he no longer h

ETH eyes retest of November lows. Source: TradingView ETH, the native cryptocurrency that powers the Ethereum blockchain, continues to suffer amid elevated post-hawkish Fed meeting sell pressure. ETH, otherwise known as Ether, was last down over 5.0% on Friday, having broken out to fresh monthly lows under its 21-Day Moving Average (DMA) earlier in the session. ETH/USD looks on the verge of breaking below $1,200, which could trigger the next leg of selling towards the late-November lows in the $1,150 area. Price Prediction – Where Next For ETH? Ether’s latest drop and fall below its 21DMA, which had in recent weeks been acting as an important source of short-term support, suggest that the positive momentum that lifted ETH as high as $1,350 from November’s sub-$1,100 lows has now been snapped. Ether bears note that the cryptocurrency remains locked within the bounds of a longer-term bearish trend that has been in play since August. ETH on the verge of dropping under

One of Ethereum’s (ETH) main rivals is expected to see an exponential increase, according to a well-known cryptocurrency expert. The quick uptake of the smart contract platform Solana, according to the 444,000 YouTube subscribers of InvestAnswers’ anonymous host, might be the catalyst for SOL to return to its all-time high of $259.65. “I believe considering that Solana trades at less than 1/16th of the market cap of Ethereum, but it’s as widely adopted and does a lot of transactions, I think it’s a screaming value, and I do believe it’ll at least go to 20% of ETH’s market cap in the very near future. And as the market rebounds, I believe Bitcoin (BTC) will rebound first, Ethereum second, and then once these things run, the money will transfer from the runners to the ones that haven’t run yet. And that’ll be Solana ,and then that could go very high and that would be 825% return. So basically you’re only making 3X the money investing in Solana than you are with Ethereum,

Circle announced that a Base version of its USDC stablecoin would be available soon, eventually eliminating the need for the USDbC bridged version. Circle’s United States dollar stablecoin, USDC, will launch natively on the Base network “next week,” according to an Aug. 29 social media post from CEO Jeremy Allaire. The new version will replace the current US Dollar Base Coin (USDbC) that most users rely on as a substitute. Native $USDC on @BuildOnBase. Coming next week. #StableSeptember. Let's go! https://t.co/oqfI0ZZhCn — Jeremy Allaire (@jerallaire) August 29, 2023 Coinbase’s Base network launched on Aug. 9. At the time, no native version of USDC existed on the network. Users could not deposit cash into a Circle account and receive equivalent USDC on Base. To solve this problem, the Base team allowed users to bridge USDC from Ethereum via an official bridge app. The token issued by the bridge is called “USDbC,” and is backed by native USDC locked on the Ethereum network.

The market intelligence platform, IntoTheBlock, took to Twitter earlier this morning to announce that the amount of Ethereum (ETH) whales is on the rise. According to the post, the collective holdings of ETH whales have surged to 30.07 million ETH, marking a significant increase from 26.56 million ETH recorded earlier this year. Historical ETH whale concentration (Source: IntoTheBlock) This rise indicates a growing trend of accumulation among addresses holding over 0.1% of the total Ethereum supply. In addition to this, the presence of these large holders suggests potential market confidence and long-term investment strategies within the Ethereum ecosystem. The fact that whales continue to gather more ETH underscores their belief in the value and future prospects of the cryptocurrency. At press time, CoinMarketCap indicated that ETH was one of the cryptos trading in the green heading into the weekend. ETH price (Source: CoinMarketCap) The altcoin market leader w

Crypto analytics tool Santiment predicts that the significantly unfavourable mood circulating Solana (SOL) might drive the price of the Ethereum (ETH) rival higher. The market intelligence agency argues that the fear, uncertainty and doubt (FUD) surrounding Solana might prompt the innovative contract platform to rebound until the severely pessimistic mood decreases. “There are not a lot of large Solana believers, even after the price bottomed out at $11.02 and rallied to $12.70 over the previous 15 hours. This FUD might create additional rebounding unless traders calm down their practically unanimous bets against SOL’s price.” Source: Santiment Solana is trading at $13.33 at the time of writing. On the gloomy attitude throughout the more significant crypto sector, Santiment notes that capitulation events in the past have generally led to a comeback in pricing. “The phrase dead has been fast floating among crypto platforms in November. As one of the m

Is Ethereum Better Than Bitcoin?: Guide ‍Cryptocurrencies have become a hot topic in the investment world, and two of the most prominent players in the market are Bitcoin (BTC) and Ethereum (ETH). While both have gained significant attention and market capitalization, there are distinct differences between them that make investors wonder which one is the better buy. In this article, we will compare Bitcoin and Ethereum, exploring their features, uses, and the potential advantages of each. Also read: BRICS Ambition to Dethrone U.S. Dollar Remains To Be ‘Long-Term’ Goal Source: CNN Understanding Bitcoin Bitcoin was the first cryptocurrency to be born, making it the pioneer of the digital currency revolution. In 2009, an individual or group of individuals known as Satoshi Nakamoto brought Bitcoin to the market. Furthermore, Bitcoin operates on a decentralized network, meaning that it doesn’t have a central authority, such as a bank or government, controlling it. Bitcoin’s

This week’s episode of The Market Report explores the reasons why Binance let go of a majority of its USDC reserves and what it replaced them with. In the most recent episode of The Market Report , analyst and writer Marcel Pechman delves into the topic of crypto exchange Binance’s proof-of- reserves . This report reveals a significant decline in USD Coin (USDC) balances, plummeting from $3.4 billion on March 1 to a mere $23.9 million by May 1.  According to insights from on-chain analyst Aleksandar Djakovic, this decline signifies that Binance utilized the $3.4 billion to procure 100,000 Bitcoin (BTC) and 550,000 Ether (ETH) during that period, totaling approximately $3.5 billion. The central question, as posed by Pechman, revolves around whether this investment was initiated by Binance users, thereby distancing Binance CEO Changpeng Zhao and the company from direct involvement. Pechman disagrees with this conjecture, although he does acknowledge the possibility of the exchange acces