Ethereum Showing Signs of Life.
The Ethereum still looking primed for a move up into the we’re looking to the rest of the market to jump up again as well. ETH kicked this move off. During that time, a downward taper paired with a sharp move up perfectly showcased keen buyer interest showing up for the world’s number two digital asset. Since then, ETH bulls haven’t let prices slink much lower, despite the relative weakness of BTC since the VanEck SolidX ETF withdrawal. For the first time in forever, Ethereum has shown signs of life, reminding many of us that it’s still here. Despite going dark for nearly 1.5 years, the world’s number two digital asset is picking back up on a stride it lost long ago. Let’s pull back the curtain and take a look at why Ethereum appears to be back in favor, and what that might mean for its mid-term prospects.
Tether (USDT) is tying up Ethereum, but that’s a good thing.
At the beginning of the year, Tether’s handlers declared they would be moving USDT from Omni to the Ethereum blockchain. Tether does upwards of $15 billion in daily transaction volume, and is itself worth $4.1 billion (hopefully) cash-backed USDTs. Suffice to say that is a ton of network strain heading straight for the Ethereum blockchain. As the year progressed, Ethereum gradually started showing signs which belied that strain. This month, transaction wait times have resembled those of the Crypto Kitties days, with some users waiting days for transactions to finally confirm. The huge boost in network activity caused by millions of Tether transactions has led to near ATH gas fees. In response, Ethereum miners have moved toward increasing the gas limit, which would create more transaction throughput. It’s easy to point out that Ethereum is struggling to meet the demands of Tether’s move, but that doesn’t tell the whole story. In our view, we’re witnessing the beginning of Ethereum-based decentralized finance (DeFi), a much touted but hitherto unseen network potential. With real value moving onto the network in a permanent way, the emergence of demand for the Ethereum world computer comes as a relief. While other smart contract platforms have thrown their hats in the ring, it’s probable that high-stakes products like USDT will continue to choose a tried and true platform like Ethereum.
Ethereum 2.0 on track.
On June 13, developers reiterated their belief that Ethereum 2.0 is on track for a January 3, 2020 rollout.
As outlined in our recent analysis, ETH 2.0 will appear in several phases. Phase zero, which comes as the first most important implementation, will feature the launch of the proof of stake beacon chain. A switch to proof of stake will also mean lower gas fees and high transaction throughput, which should go some ways in ameliorating the aforementioned USDT situation. Additionally, Binance recently published a report showing Ethereum’s sheer dominance when it comes to hosting decentralized finance applications. EOS and BTC, the next closest competitors, have a lot of catching up to do. Ethereum outdoes them by hosting over 15x the amount of DeFi apps. From a network usage perspective, that’s a bullish sign for the future because DeFi apps use more complicated-than-usual smart contracts which, in turn, require more gas.
Resources for watching Ethereum.
The beautiful thing about blockchain is that network metrics are always available for you to see if you know where to look. Here are a few very handy resources for observing network usage, gas fees, network utilization, and more:
Well keep you updated as this timely issue evolves.
We go together
Together we are stronger
Share and like
I am not Bearish long term. I am a Bull of Bulls.
Thanks
God bless you!
===============================================================================
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Telegram > t.me/ferGOD_cryptomarket
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CAUTION!
DISCLAIMER
Trading is risky.
Here s a small explanation about why Im giving insight into my trades. Crypto is all about trust and transparency and that is what ID like to bring. Dont expect me to tell you how much crypto I actually own because thats none of your business. But I Will tell you how big my position will be in regard to my trading portfolio.
Secondly and actually the main reason im doiing this, is to proof to all the HALTERS out there that you can earn money with trading crypto. Most people are skeptical about trading because they heard horror stories about people who lost all their money. Follow my journey and let me proof therm wrong.
At the end of the day, the most important thing is how good are you at risk control.
Booking some losses during trading is perfectly normal, so im not afraid to show those losses. Most traders dont give any insight in what they because they perfectly know they suck and dont have a clue what they are doing in regard to risk management.
Risk comes from not knowing what you're doing.
Just like every trader, Ive seen ups and downs in my journey. I started trading stocks. And you can guess what that meant for my portfolio. Yes thats right, it was almost completely wiped out.
But I pressed on, learned a lot about technical analysis and here we are. I have experience in trading stocks, options, and commodities .
So you can assume that I know how to deal with risks.
===============================================================================
$BTC $BCH $BNB $XLM $EOS $ETH $ADA $LTC $TRX $XRP $IOTA $LINK $XTZ $BTT $XMR $NEO $BTT $MATIC $XMR $MRK $XEM $ONT $DASH $BAT $ZRX $LSK $NANO $REP
#altcoins #bitcointrading #BuyTheFear #BuyTheDip
@btc @RedditBTC
#CRYPTO #BITCOIN #BTC
===============================================================================
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Your friends and you get $30 each after they upgrade to a paid plan
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The Ethereum still looking primed for a move up into the we’re looking to the rest of the market to jump up again as well. ETH kicked this move off. During that time, a downward taper paired with a sharp move up perfectly showcased keen buyer interest showing up for the world’s number two digital asset. Since then, ETH bulls haven’t let prices slink much lower, despite the relative weakness of BTC since the VanEck SolidX ETF withdrawal. For the first time in forever, Ethereum has shown signs of life, reminding many of us that it’s still here. Despite going dark for nearly 1.5 years, the world’s number two digital asset is picking back up on a stride it lost long ago. Let’s pull back the curtain and take a look at why Ethereum appears to be back in favor, and what that might mean for its mid-term prospects.
Tether (USDT) is tying up Ethereum, but that’s a good thing.
At the beginning of the year, Tether’s handlers declared they would be moving USDT from Omni to the Ethereum blockchain. Tether does upwards of $15 billion in daily transaction volume, and is itself worth $4.1 billion (hopefully) cash-backed USDTs. Suffice to say that is a ton of network strain heading straight for the Ethereum blockchain. As the year progressed, Ethereum gradually started showing signs which belied that strain. This month, transaction wait times have resembled those of the Crypto Kitties days, with some users waiting days for transactions to finally confirm. The huge boost in network activity caused by millions of Tether transactions has led to near ATH gas fees. In response, Ethereum miners have moved toward increasing the gas limit, which would create more transaction throughput. It’s easy to point out that Ethereum is struggling to meet the demands of Tether’s move, but that doesn’t tell the whole story. In our view, we’re witnessing the beginning of Ethereum-based decentralized finance (DeFi), a much touted but hitherto unseen network potential. With real value moving onto the network in a permanent way, the emergence of demand for the Ethereum world computer comes as a relief. While other smart contract platforms have thrown their hats in the ring, it’s probable that high-stakes products like USDT will continue to choose a tried and true platform like Ethereum.
Ethereum 2.0 on track.
On June 13, developers reiterated their belief that Ethereum 2.0 is on track for a January 3, 2020 rollout.
As outlined in our recent analysis, ETH 2.0 will appear in several phases. Phase zero, which comes as the first most important implementation, will feature the launch of the proof of stake beacon chain. A switch to proof of stake will also mean lower gas fees and high transaction throughput, which should go some ways in ameliorating the aforementioned USDT situation. Additionally, Binance recently published a report showing Ethereum’s sheer dominance when it comes to hosting decentralized finance applications. EOS and BTC, the next closest competitors, have a lot of catching up to do. Ethereum outdoes them by hosting over 15x the amount of DeFi apps. From a network usage perspective, that’s a bullish sign for the future because DeFi apps use more complicated-than-usual smart contracts which, in turn, require more gas.
Resources for watching Ethereum.
The beautiful thing about blockchain is that network metrics are always available for you to see if you know where to look. Here are a few very handy resources for observing network usage, gas fees, network utilization, and more:
- etherscan.io/chart/networkutilization
- etherscan.io/chart/tx
- etherscan.io/chart/transactionfee
- ethgasstation.info/index.php
- studio.glassn
Well keep you updated as this timely issue evolves.
We go together
Together we are stronger
Share and like
I am not Bearish long term. I am a Bull of Bulls.
Thanks
God bless you!
===============================================================================
Twitter > twitter.com/f3rG0D
Telegram > t.me/ferGOD_cryptomarket
===============================================================================
CAUTION!
DISCLAIMER
Trading is risky.
Here s a small explanation about why Im giving insight into my trades. Crypto is all about trust and transparency and that is what ID like to bring. Dont expect me to tell you how much crypto I actually own because thats none of your business. But I Will tell you how big my position will be in regard to my trading portfolio.
Secondly and actually the main reason im doiing this, is to proof to all the HALTERS out there that you can earn money with trading crypto. Most people are skeptical about trading because they heard horror stories about people who lost all their money. Follow my journey and let me proof therm wrong.
At the end of the day, the most important thing is how good are you at risk control.
Booking some losses during trading is perfectly normal, so im not afraid to show those losses. Most traders dont give any insight in what they because they perfectly know they suck and dont have a clue what they are doing in regard to risk management.
Risk comes from not knowing what you're doing.
Just like every trader, Ive seen ups and downs in my journey. I started trading stocks. And you can guess what that meant for my portfolio. Yes thats right, it was almost completely wiped out.
But I pressed on, learned a lot about technical analysis and here we are. I have experience in trading stocks, options, and commodities .
So you can assume that I know how to deal with risks.
===============================================================================
$BTC $BCH $BNB $XLM $EOS $ETH $ADA $LTC $TRX $XRP $IOTA $LINK $XTZ $BTT $XMR $NEO $BTT $MATIC $XMR $MRK $XEM $ONT $DASH $BAT $ZRX $LSK $NANO $REP
#altcoins #bitcointrading #BuyTheFear #BuyTheDip
@btc @RedditBTC
#CRYPTO #BITCOIN #BTC
===============================================================================
Get $30 for every friend you refer
Your friends and you get $30 each after they upgrade to a paid plan
www.tradingview.com/gopro/?share_your...
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