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2024-05-07

Popular crypto exchanges(2023 Update) 2024-05-07
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The price of Ethereum’s native token, Ether (ETH), has gained around 35% in 2023 so far. But its attempts to break above $2,000, a psychological resistance level, have witnessed strong bearish rejections multiple times.ETH/USD daily price chart. Source: TradingViewCointelegraph takes a closer look at the three likely reasons why Ethereum price has failed to decisively retake $2,000 since May 2022.Ethereum price paints bear cycle fractalEthereum’s inability to cross above $2,000 in 2023 resembles the bearish rejection near $425 from 2018 to 2019.ETH/USD weekly price chart. Source: TradingViewIn both cases, Ether appears to be in a recovery phase while eying close above its 0.236 Fib line of the Fibonacci retracement graph.From 2018 to 2019, the 0.236 Fib line was near $425 and was instrumental in limiting Ether’s recovery attempts. In 2023, the same line is near $2,000, enforcing itself again as a selling area and, thus, pressuring ETH’s price lower.Stronger U.S. dollar, BitcoinA strengthening United States dollar has dampened demand for Ethereum in recent months, thus reducing its ability to close decisively above $2,000.The prevailing negative correlation between top cryptocurrencies and the dollar has been the main culprit. In 2023, in particular, the weekly correlation coefficient between Ether and the U.S. Dollar Index (DXY) has been consistently negative, as shown below.ETH/USD and DXY weekly correlation coefficient chart. Source: TradingViewMeanwhile, Ethereum has largely underperformed Bitcoin in 2023 due to the ongoing spot Bitcoin ETF hype. For instance, the widely-tracked ETH/BTC pair is down 20% year-to-date. ETH/BTC daily price chart. Source: TradingViewAdditionally, the net capital held by Ethereum-tied investment funds has dropped by $114 million so far in 2023, according to CoinShares’ weekly report. In comparison, Bitcoin-based funds have attracted $168 million in the same period.Related: Time to ‘pull the brakes’ on Ethereum and rotate back to Bitcoin: K33 reportEthereum network activity dipsThe total value locked (TVL) across the Ethereum ecosystem has dropped from 18.41 million ETH to 12.79 million ETH so far in 2023. That underscores a reduced availability of funds, resulting in lower yields for investors, as JP Morgan analysts also warned recently.Ethereum TVL since 2019. Source: Defi LlamaThe declining TVL has accompanied a drop in the Ethereum network’s gas fees, which reached a yearly low on Oct. 5. #Ethereum's network has been particularly cheap to use, and this week's average fee level of $1.13 is the lowest since November, 2022. Though not a perfect signal by any means, lower $ETH costs generally lead to a rise in utility and price rebound. https://t.co/ymXFwGJh49 pic.twitter.com/PEGpXMmZ3q— Santiment (@santimentfeed) October 4, 2023 “For emerging markets such as Ukraine, cryptocurrencies have the potential to act as a reliable store of value, reduce cross-border transaction costs, and boost financial independence. In addition to helping with war efforts, cryptocurrency donations are likely to encourage increased adoption and strengthen an economy that has otherwise been hampered by the war,” the report reads. cryptocurrency statsCrypto Analyst Presents Altcoins Using Network Activity — Aman🔶Sai (@amansaiofficial) October 9, 2023

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However, the skepticism surrounding cryptocurrencies signifies a major roadblock to Bitcoin’s rapid adoption in the region. Shiba Inu (SHIB) Aggregate Exchange On-chain Market Depth | Source: IntoTheBlock Best Crypto Brokers USAavegotchis are pixelated ghosts on the Ethereum blockchain as GHST ERC-721 tokens. Their value is determined by the rarity level, based on traits, staked collateral/tokens, and equipped wearables. Pumpkin Spiced Latte drop. Source: Nifty Gateway

Binance Under Scrutiny Again Announcing on Twitter, Changpeng Zhao, the CEO of Binance, shared that his team has upgraded the Proof of Reserves system with zk-SNARK. Binance claimed that the PoR system upgrade was done with the motive of keeping your sensitive information more secure and private. Buy Tether USDT (TRC20)|Symlix Crypto MarketplaceIt means users could interact without intermediaries or authorization from governing bodies. Furthermore, the new web could make it possible to integrate newer, more immersive, and inclusive features such as metaverses, NFT-based games, decentralized finance (defi) infrastructures, and decentralized autonomous organizations (DAOs). On the daily chart paired with BTC, Binance Coin (BNB) experienced a false breakout below the 0.007506 support level

Some Common FAQs Around The Merge "We have discovered a tool that provides vast functionality over several different dating platforms, providing the capability to create fake accounts, interact with victims, bypass CAPTCHA, anonymize the access using proxies and browser anonymization tools, and more," Avast's reported. How To Buy And Invest In Ethereum ETH (And Is It Too Late)As noted, the interaction buttons, which include the repost, comment, and like icons, will be hidden from the timeline. This will only be available to users when the post is expanded. On the timeline, only the view count that X introduced in December will remain attached to posts on the timeline. "If ETH is the crypto tech stock and BTC is crypto gold, the higher rate environment we currently see in the macro landscape will have an outsized impact on the 'long duration' tech stock. Digital gold also is hurt by higher rates, but a bid is found in response to global fiat uncertainty and geopolitical risk," Magadini said in an email, noting the potential for continued ether underperformance ahead.

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