Glassnode Says One Crypto Asset Class Is Gaining Massive Popularity Amid Huge Ethereum (ETH) Unrealized Losses

Market intelligence firm Glassnode says one particular niche within the decentralized finance (DeFi) sector remains robust despite crypto market woes. In a new analysis, Glassnode says capital has been pouring into stablecoins while many Ethereum (ETH) holders are currently underwater. “The aggregate capitalization of the top four stablecoins (USDT, USDC, BUSD and DAI) have also The post Glassnode Says One Crypto Asset Class Is Gaining Massive Popularity Amid Huge Ethereum (ETH) Unrealized Losses appeared first on The Daily Hodl.

Timeline of Ethereum

Ethereum price after a brief visit below $1000, now has regained its levels above. On the other hand, Bitcoin's price crashed below the crucial support at $20,200 and marked its bottom below $19,000, some moments ago. Currently, the bulls have appeared to have jumped in to prevent the prices to plunge more, but eventually, the …

Ethereum (ETH) prices slumped below key levels on Saturday, and are now trading in the triple digits as an ongoing crypto rout intensified. ETH is down nearly 9% in the past 24 hours, and is trading at $997.61, data from Etherscan shows.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the opinion of the writer. Global stock market indices have been in a freefall over the past two weeks.

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. USDT Dominance is a metric that measures the market cap of the stablecoin Tether as a percentage of the total market cap.

Ethereum (CRYPTO: ETH) was trading mostly flat on Friday in tandem with Bitcoin (CRYPTO: BTC) and the S&P 500, which were trading about 0.7% and 0.24% higher, respectively. The general market and the cryptocurrency sector were due for at least a day of consolidation after a period of high volatility and bearish price action.

BitMEX co-founder Arthur Hayes predicts further losses for altcoins amid a liquidity squeeze in the second half of the year. The increase in exchange inflow volume paints a grim picture for Ethereum's price in the short term.

Ethereum price from the past a week appears to be perplexed by the upcoming move as the bears seem to be in a state of euphoria. The weekly RSI of the asset has bottomed hard, specifically at the lowest point ever. But still, the asset strongly holds above $1060, maybe because the 3AC's 212 K …

The price of Ethereum has been rocked in the cryptocurrency bear market with the coin trading near the $1,000 level once again. These prices have not been seen since 2020 and have damaged many portfolios in the process.

Recently the co-founder of the Ethereum cryptocurrency, Buterin Vitalik, spoke openly about the situation that the crypto market is going through, accompanied by Tang Audrey, who would be the head of the Taiwan government. At the meeting, both characters discussed the use of cryptocurrencies worldwide and that more people are attracted to the decentralized scheme.

The Ethereum network is planned for an update around block 15,050,000, or around Wednesday, June 29, 2022. Due to the size of the block, this timing is tentative and might occur sooner or later than the said date. The Gray Glacier network update alters the specifications of the difficulty bomb. This in turn will cause …