Ethereum price rises by 50% against Bitcoin in one month — but there's a catch
The rise in the ETH/BTC pair is painting a bearish technical pattern, hinting at a potential correction. Ether (ETH), Ethereum's native toke, has been continuing its uptrend against Bitcoin (BTC) as euphoria around its upcoming network upgrade, "the Merge," grows.ETH at multi-month highs against BTCOn the daily chart, ETH/BTC surged to an intraday high of 0.075 on Aug. 6, following a 1.5% upside move. Meanwhile, the pair's gains came as a part of a broader rebound trend that started a month ago at 0.049, amounting to approximately 50% gains.ETH/BTC daily price chart. Source: TradingViewThe....
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Ethereum’s price rose 7% over the past 24 hours, continuing an apparent up-trend, increasing to $14.50, up from around $10 at the beginning of the month. Price Rises in Anticipation of Enterprise Ethereum – image from poloniex The main reason appears to be Enterprise Ethereum. Details are sparse, but a launch event is to be held tomorrow, on the 28th of February, at what appears to be JP Morgan’s offices in Brooklyn, New York. According to the event’s website: “[S]ome of the largest corporate users of Ethereum will demonstrate the most mature enterprise applications of blockchain running....
Nxtty seeks to make cryptocurrency a part of everyday life for Crypto Messenger users. Nxttycoin is the ownership mechanism for the Nxtty encrypted messaging Android app (the iPhone version is in development and should release soon). The Nxttycoin price rose in anticipation of the app's release, but the app has failed to catch on in the Google Play store. Consequently, the Nxttycoin price has fallen almost 50% in the past month. Also read: Gems Seeks to Become the Bitcoin of Social Networks. Nxtty Encrypted Messaging App Fails to Catch On. Nxtty struggled during its first month in the....
Data shows the Ethereum Open Interest has surged alongside the latest retrace in the asset’s price. Here’s what this could mean for the cryptocurrency. Ethereum Open Interest Has Seen A Rise Recently As highlighted by analyst Maartunn in an X post, the Ethereum Open Interest has just witnessed a surge. The “Open Interest” here refers to an indicator that measures the total amount of positions related to the cryptocurrency that are currently open on all centralized derivatives exchanges. Related Reading: Bitcoin Cycle Indicator Turns Green For First Time In Years:....
The “ultrasound money” meme has been running in Ethereum based circles for some time, gaining momentum as the asset rises and rises in value during this bull market. While it is considered a joke by many, like a myriad of memes, it hides a very complex array of factors that contribute to Ethereum’s newfound status. However, it is not without its critics from the Bitcoin side. The ‘Ultrasound Money’ Meme Explained If you have mingled in inner Ethereum cryptocurrency circles, you probably have heard the words “ultrasound money,” used as a meme to....
Over the years, the Ethereum price has usually mirrored Bitcoin, moving up when the latter did and crashing along with it. However, there seems to have been a deviation in the current cycle as Ethereum has lagged behind while the Bitcoin price hit multiple new all-time highs. Nevertheless, expectations remain that ETH will eventually catch […]