Ethereum Needs To Breach This Level To Sustain Bullish Pace

Despite attempts by bears to drive prices down, Ethereum (ETH) managed to hold its head above water on Wednesday, topping $1,200 for the most of the session. Coingecko records indicate that as the time of writing, ETH is trading at $1,129.50, a decrease of 0.5% over the past week and still slightly down from the previous day's high of $1,228.88.

Timeline of Ethereum

Widely followed crypto analyst Michaël van de Poppe is predicting what might be in store for a trio of popular altcoins. Van de Poppe tells his 613,800 Twitter followers that leading smart contract platform Ethereum (ETH) appears to have decent momentum after rallying back from monthly lows under $1,000 on June 18th and 19th. “Great The post Analyst Predicts Ethereum (ETH) Bounce, Updates Outlook on XRP and Fantom (FTM) appeared first on The Daily Hodl.

Ethereum has been closing red week after red week for the past 11 weeks. It is the longest red streak that has been recorded in the history of the cryptocurrency, hence, it carried significant implications for the digital asset.

Ethereum has seen some selling pressure today and has rolled back on a portion of its gains. The cryptocurrency was bouncing back from below the $1,000 levels but has found hurdles on lower timeframes.

Enthusiasm in the crypto market died down when hit by the recent sustained market downturn, as clearly shown by Ethereum's (CRYPTO: ETH) on-chain fundamentals. What Happened: Ethereum is seeing significantly less use than it has on average over the last two years.

An altcoin project built on Ethereum that has been relatively quiet for some time is in the middle of an explosive rally as it outperforms the rest of the crypto markets. Stratis Platform is an Ethereum-based, decentralized blockchain platform aimed at enabling Microsoft developers to build applications on top. The Stratis code is based on The post Ethereum Altcoin Project Rockets 160% Following Announcement of New NFT and Gaming Developments appeared first on The Daily Hodl.

What happened: On Monday a total of 3,779.50 Ether (CRYPTO: ETH) worth $4,495,824, based on the current value of Ethereum at time of publication ($1,189.53), was burned from Ethereum transactions. Burning is when a coin or token is sent to an unusable wallet to remove it from circulation.

A transition to a fully proof-of-stake (PoS) consensus mechanism, dubbed "the merge" by cryptocurrency enthusiasts, won't fix Ethereum's (CRYPTO: ETH) issues, according to CoinDesk citing a Morgan Stanley analyst report. What Happened: A switch to PoS will not address the network's scalability issues pertaining to its low transaction throughput and high transaction costs.

ETH has managed to remain above the $1,200 level on Tuesday, despite an increase in price uncertainty in crypto markets. BTC fell below $21,000 in today's session, as the global crypto market cap fell by as much as 2% earlier today. Bitcoin Following a marginally bearish start to the week, downward pressure intensified in today's

Ethereum (ETH) has recovered steadily after slumping below $1,000 earlier this month, as traders rushed in to accumulate the token at lower levels. ETH is trading at $1,225- up nearly 27% from a low of $897 touched earlier this month.

Harmony hackers started laundering the stolen ETH from the Horizon bridge and sent $36 million of the $100 million to a mixing service so let's read more today in our latest cryptocurrency news. The hackers responsible for stealing $100 million in altcoins from the Harmony Horizon bridge started laundering the funds according to PeckShield.