Tag: Ethereum

Ethereum Price to Hit $19,842 by 2025 According to 35 Experts

Ethereum Price to Hit $19,842 by 2025 According to 35 Experts

hirty-five experts have come together to predict the price of ethereum. On average, they expect the price of ether to hit $19,842 by 2025. The majority of panelists say now is the time to buy ethereum while 28% say to hodl.

Experts See Price of Ether Reaching Almost $20K by 2025
The “Finder Cryptocurrency Predictions 2021” which was updated Monday predicts that the price of ether will be nearly $20K by 2025 according to 35 experts on Finder’s cryptocurrency panel. The report says:

By 2025, the panel expects Ethereum to hit $19,842 on average.

The highest forecast came from Bitbull Capital COO Sarah Bergstrand who believes that the price of ether would be $100,000 by 2025. “We are likely to see major upgrades to the Ethereum network this year, and those can be expected to push the price higher,” she explained.

One of the most bearish forecasts came from UNSW associate professor Elvira Sojli who predicted that ETH will end 2025 at just $1,850.

The report continues:

The majority of panellists (59%) say now is the time to buy ethereum, while 28% say ‘hodl’ and 13% say it’s time to sell.

As for the price prediction for the year 2021, the report notes that the “Panellists predict that the price of Ethereum will hit $4,512 on average by the end of the year. That’s a 234% increase from December’s end-of-year prediction of $1,351.”

One of the highest forecasts came from YAP Global founder and CEO Samantha Yap who noted that the price of ether would be $10,000 at the end of this year, emphasizing that “once BTC is mass adopted, ETH will be next on people’s list.”

Paul Ennis, a lecturer and assistant professor at the University College of Dublin, arrived at the same forecast of $10K for ETH this year, “arguing ethereum is highly undervalued and has far more uses than bitcoin.”

LMAX Group’s cryptocurrency strategist, Joel Kruger, gave a more moderate forecast of $2,000. He is also convinced of “ethereum’s potential, viewing the currency as the major hub of innovation on the blockchain.” He described that “As crypto adoption continues, most of that innovation will therefore be hosted on Ethereum, which we expect will translate into a much higher valuation.”

The panelists include Bitriver CEO Igor Runets; Thomson Reuters technologist Joseph Raczynski; Okcoin COO Jason Lau; Etoro analyst and senior account manager Simon Peters; Consensys head economist Lex Sokolin; Coinmama CEO Sagi Bakshi; Unocoin CEO Sathvik Vishwanath; and Origin Protocol co-founder Josh Fraser.

Can Ethereum prices hit $5,000 in a week?

Can Ethereum prices hit $5,000 in a week?

The No. 2 crypto on the planet is extending its surge into rarefied territory, and that momentum has at least one crypto expert speculating that Ether prices could hit $5,000 within a week.

“Ether is one of the main beneficiaries in the wider explosion in the cryptocurrency market,” wrote Nigel Green, chief executive and founder of deVere Group, in a Monday note.

“The boom over recent months has been fueled by soaring interest from major institutional investors and growing recognition that borderless digital currencies are the future of money,” the CEO said.

“This momentum is likely to build further in the near-term and I believe Ether will hit $5,000 within seven days,” he forecast.

At last check, Ether ETHUSD, +1.56%, the asset that runs atop the Ethereum protocol, was changing hands at $3,237, near an all-time peak, according to CoinDesk data.

The surge for Ether comes as bitcoin BTCUSD, -1.24% has been much more sedate comparably.

Ether values have been supported partly by growing appetite for nonfungible tokens, or NFTs, and other corners of the nascent digital crypto market supported on the Ethereum blockchain.

Indeed, interest in NFTs, the popular authentication asset that has taken the world by storm, has helped to supercharge a rise in appetite for Ethereum, which most NFTs are linked to.

Ethereum, launched in 2015 by a team including Vitarik Buterin, Charles Hoskinson, and Gavin Wood on the concepts behind bitcoin, has come to be known for the ease by which software developers can write bespoke programs atop its network.

The Wall Street Journal wrote that some 7 million new Ethereum addresses — or accounts able to hold ether balances — were created in the first four months of 2021, citing data from analytics firm IntoTheBlock.

Bitcoin’s major selling point as a digital asset has been its claim by enthusiasts as a store of value and as a currency to a lesser extent, but Ethereum’s network is viewed by many as a powerful, open-source, dentralized backbone off which a number of applications could be based.

It has been hoped for by fans, if not anticipated, that Ether would one day exceed the market value of bitcoin, the world’s No. 1 crypto. Such an event is known in certain crypto circles as the “flippening.”

However, as its stands bitcoin’s market value is $1.09 trillion, compared against a market value for Ether of $366 billion, representing the No. 1 and 2 largest crypto in the world, according to CoinMarketCap.com.

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Bitcoin Revisits USD 60K, Ethereum – 2K, BNB, Altcoins Surge

Bitcoin Revisits $60K, Ethereum - 2K, BNB, Altcoins Surge

Bitcoin price extended its rise above the USD 59,500 resistance. BTC even spiked above the USD 60,000 resistance before correcting lower. It is currently (05:30 UTC) trading well above USD 59,000 and it might climb above USD 60,000 in the near term.

Similarly, most major altcoins are signaling more upsides. ETH is up 4% and it even tested the main USD 2,000 resistance zone. XRP/USD is consolidating above USD 0.550 and it might soon attempt a break above USD 0.600.

Bitcoin price
There was a steady increase in bitcoin price above the USD 59,200 and USD 59,500 resistance levels. BTC even spiked above USD 60,000 and tested USD 60,120. It is now consolidating gains near USD 59,500, with an initial support at USD 59,200. The first major support is now forming near the USD 58,800 level.
On the upside, a daily close above the USD 60,000 level could open the doors for a move towards the USD 61,800 and USD 62,000 levels.

Ethereum price

Ethereum price outperformed bitcoin and it gained nearly 4%. ETH broke the USD 1,950 resistance and it even spiked above the USD 2,000 resistance. The price is now consolidating gains and it seems like it could rise further towards USD 2,040 and USD 2,100.
If there is a downside correction, an initial support is seen near the USD 1,975 level. The first major support is near the USD 1,950 level.

BNB, ADA, litecoin, and XRP price
Binance Coin (BNB) rallied over 12% and it broke many hurdles near USD 315 and USD 335. BNB even surpassed USD 340 and it might accelerate further above USD 355. The next major stop for the bulls may be USD 380. On the downside, the USD 335 and USD 322 levels are decent supports.
Cardano (ADA) is still consolidating below the USD 1.200 and USD 1.220 resistance levels. A close above USD 1.220 is a must to start a steady increase. The next major resistance sits at USD 1.300. On the downside, the USD 1.165 and USD 1.150 levels are key supports.
Litecoin (LTC) is now showing positive signs above the main USD 200 resistance level. It seems like LTC bulls are back in action and they are aiming for a rally towards USD 240. The next major target for the bulls could be USD 250. On the downside, the USD 195 level is a decent support.
XRP price is now well below the USD 0.600 resistance level. However, as long as the price is above the USD 0.550 support, there are chances of a clear break above the USD 0.600 resistance. If not, it could drop to USD 0.500.

Other altcoins market today
Several altcoins gained over 10%, including HNT, DENT, EOS, ANKR, EGLD, SC, DOGE, BTT, FTM, SNX, and MKR. Out of these, HNT rallied over 30% and it cleared the USD 14.50 level. Meanwhile, SOL, ICX, and FLOW are down by 7%-9%.

Overall, bitcoin price is gaining momentum and it might settle above USD 60,000. If not, there could be a downside correction towards the USD 58,000 support level in the near term.

Source – Crypto News 

Crypto Market slows as Bitcoin, Ethereum and Altcoins Recovery Unravels

Crypto Market slows as Bitcoin, Ethereum and Altcoins Recovery Unravels

Bitcoin price failed to settle above the USD 57,000 resistance, resulting in a strong decline. BTC broke many important supports near USD 55,000 to enter a bearish zone. It even broke the USD 53,000 support and it is currently (05:30 UTC) consolidating losses near USD 52,000.

Similarly, most major altcoins declined sharply. ETH is down 5% and it even broke the USD 1,600 support zone. XRP/USD trimmed most of its gains and settled below USD 0.500.

Total market capitalization

Bitcoin price
After a recovery above USD 55,500, bitcoin price failed to settle above the USD 57,000 resistance. A high was formed near USD 57,200 before the price started a major decline. It broke the USD 55,500 and USD 55,000 support levels. The bears even pushed the price below USD 53,000 and the price tested USD 51,500.
If there are more losses, the bears might test the USD 50,000 support zone. Conversely, a recovery wave could face sellers near the USD 53,000 and USD 53,200 levels.

Ethereum price

Ethereum price also followed bitcoin and it declined over 5%. ETH broke the USD 1,650 and USD 1,600 support levels. The bulls are now protecting the key USD 1,550 support. If there are more losses, the price might test the USD 1,500 level.
On the upside, the USD 1,600 is a short-term hurdle. The main resistance is now forming near the USD 1,650 level (the recent breakdown region).

BNB, ADA, litecoin, and XRP price
Binance Coin (BNB) broke the USD 250 support level and extended its decline. BNB is now consolidating above USD 240, with a risk of more downsides towards the USD 230 and USD 225 levels. Any more downsides could lead the price towards the USD 200 level.
Cardano (ADA) is still above the USD 1.050 support zone, which is a positive sign. It seems like ADA might continue to trade in a range above the USD 1.000 and USD 1.050. If there is a bearish break below USD 1.000 and USD 0.998, the price could drop sharply. On the upside, the USD 1.120 level is an immediate resistance, followed by USD 1.150.
Litecoin (LTC) topped near the USD 195 level and declined heavily. LTC even broke the USD 180 support level and tested the USD 172 zone. It is now consolidating losses and there could be a drop towards the USD 165 level. On the upside, the USD 180 level may now act as a hurdle.
XRP price topped near the USD 0.600 level and started a fresh decline. The bears took control and pushed the price below the USD 0.500 support level. The bulls are now defending the USD 0.450 support and there might be a fresh increase above the USD 0.500 level.

Other altcoins market today
Several altcoins declined over 10%, including TFUEL, MIOTA, THETA, FTM, ZRX, OMG, ONT, BTMX, REN, NEAR, SUSHI, CRV, DOT, STX, SC, RSR, EGLD, and UNI. Conversely, NPXS and VGX are up over 10%.

Overall, bitcoin price broke the main USD 53,200 and USD 53,000 support levels. If there is no quick close back above USD 53,200, there could be a drop towards the USD 50,000 support.


Source – Crypto News

Publicly-listed beauty apps maker Meitu buys $40 million in BTC, ETH

Publicly-listed beauty apps maker Meitu buys $40 million in BTC, ETH

Meitu, a Chinese photo retouching app listed in Hong Kong, has announced it purchased $40 million worth-of bitcoin and ethereum.

The firm said in disclosure Sunday on the Hong Kong Stock Exchange that it has bought 15,000 units of ETH and 379.12 units of BTC in open market transactions at an average cost of $22.1 million and $17.9 million, respectively, on Friday.

“These purchases were made pursuant to a cryptocurrency investment plan previously approved by the board of directors, under which the Group may make a net purchase of up to US$100 million worth of cryptocurrencies, financed by its existing cash reserves other than any remaining proceeds from the Company’s initial public offering,” Meitu said in the announcement.

Founded in 2008, Meitu is one of the most popular mobile apps in China with a market capitalization of HK$11.7 billion ($1.5 billion). As of June 2020, Meitu held 2.5 billion yuan ($384 million) in cash and liquid financial reserve and had 295 million self-reported monthly active users.

Its chairman and founder Cai Wensheng is also a known pro-bitcoin figure who said in 2018 in an interview that he personally amassed 10,000 BTC at the time.

The Sunday announcement, with a signature penned by Cai, said Meitu’s board believes that blockchain technology has the potential to disrupt the existing financial and technology industries, similar to what the mobile internet has done to the PC internet and many other offline businesses.

In this context, the firm believes that “cryptocurrencies have ample room for appreciation in value and by allocating part of its treasury in cryptocurrencies can also serve as a diversification to holding cash (which is subject to depreciation pressure due to aggressive increases in money supply by central banks globally) in treasury management.”

Meitu is also one of the first Chinese publicly listed companies that have joined the ranks of Square, Tesla and MicroStrategy in holding bitcoin as part of its treasury management strategy.

“[Bitcoin] has several features that enable it to be a good alternative store of value, such as being limited in supply, its exchangeability into fiat money or goods and services, portability, and its potential to act as an effective hedge against depreciation of fiat currencies due to aggressive increase in money supply by central banks globally,” Cai penned in the release, adding:

“Some of these features potentially even render Bitcoin as a superior form to other alternative stores of value such as gold, precious stone and real estate. Being an alternative store of value, its price is primarily a function of future demand that is driven by consensus of investors and the general public.”

As regard to its investment in ETH, Meitu outlined to its shareholders various application activities including finance, games, social media and art and collectibles that have been built on top of the Ethereum protocol.

“The Group is currently evaluating the feasibility of integrating blockchain technologies to its various overseas businesses, including but not limited to launching Ethereum-based dApps, as well as identifying suitable overseas blockchain-based projects for potential investments,” Meitu said and hence “purchasing Ether is therefore a logical preparation for both initiatives.”

Source – The block crypto 

Amazon Now Offering to Run Ethereum Nodes for Developers

Amazon Now Offering to Run Ethereum Nodes for Developers

Amazon Web Services (AWS) has just made it easier for developers to run Ethereum nodes using its cloud services, adding the Ethereum blockchain to its Amazon Managed Blockchain services, according to an announcement on Tuesday. It’s a move many developers had long been clamoring for.

Currently, around 57% of Ethereum nodes are hosted on cloud services, with 40% of those hosted nodes using AWS. This implies that around 19% of Ethereum nodes are run on AWS already.

But this is the first time Amazon has provided its own Ethereum management option through its blockchain service, making it easy for anyone to spin up a node “in minutes,” the company touts.
With this new service, AWS threatens the role of Infura, a popular service that runs Ethereum nodes on behalf of crypto companies. (Disclosure: Infura is funded by ConsenSys, which also funds an editorially independent Decrypt). Infura is estimated to be running between 25% and 50% of its nodes on AWS, according to The Next Web.

The purpose of providing a managed software service is that it enables crypto companies to access blockchain data without running nodes themselves. Nodes require expensive equipment to run and can be difficult to interact with. In particular, many crypto services need to access historical data, which requires running an archival Ethereum node—a much bigger and more complex version of its blockchain.
Amazon’s new Ethereum option supports the main Ethereum blockchain, along with two popular testnets (places where developers can experiment with applications before sending them live), Rinkeby and Ropsten. (You can get some testnet Ethereum tokens on the Rinkeby testnet from faucets such as this one.)

The service will automatically monitor the health of the Ethereum nodes and update them when a new upgrade comes out for the blockchain. It will support decentralized finance (DeFi) applications, one of the core Ethereum use cases.

While the service is available in London, Singapore and Tokyo, it’s only available in one region in the US East (N. Virginia) region, which is one of its four US regions.

Source – Decryt.io


Anti-virus mogul John McAfee charged with fraud over crypto promotion

Anti-virus mogul John McAfee charged with fraud over crypto promotion

John McAfee, the antivirus software pioneer whose former company still bears his name, has been indicted on fraud and money laundering conspiracy charges stemming from two cryptocurrency schemes, the US Department of Justice said on Friday.

Authorities accused McAfee and his bodyguard, Jimmy Gale Watson Jr, of exploiting McAfee’s large Twitter following to artificially inflate prices of “altcoins” through a pump-and-dump scheme, and concealing payments McAfee received from startup businesses to promote initial coin offerings.

McAfee and his accomplices allegedly reaped more than $13m from the schemes, according to the US Department of Justice. The Commodity Futures Trading Commission filed related civil charges concerning the alleged pump-and-dump scheme.

Lawyers for McAfee and Watson could not immediately be identified.

McAfee is being detained in Spain following his arrest there on tax evasion charges, which was announced in October, the justice department said. Watson was arrested on Thursday night, the department added.

Both also face civil charges by the US Securities and Exchange Commission, which in October accused McAfee of concealing more than $23.1m he made from boosting seven cryptocurrency offerings on Twitter.

McAfee became the subject of a media frenzy in 2012 when he fled his home in Belize after police sought him for questioning about the death of a neighbor. They ultimately said he was not a suspect.

In the cryptocurrency cases, authorities said McAfee touted assets including Verge, Reddcoin and Dogecoin as part of a “Coin of the Day” or “Coin of the Week” tweet from around December 2017 through February 2018.

Authorities said McAfee held himself up as an expert on cybersecurity and cryptocurrency through his tweets, speeches and his role as a CEO of a publicly traded cryptocurrency company.

They also accused him of telling followers he had no stake in the coins, even as he touted how they “will change the world”.

Source – The Guardian