ETHUSD (Ethereum) – Week 27 – Are the bulls in charge?
Ethereum’s shift to Proof-of-Stake could kickstart mainstream adoption and increase payouts, say two senior analysts at JPMorgan in a recent report. Staking across all cryptocurrencies generates an estimated $9 billion annually. The report predicts that this figure could increase to $20 billion following Ethereum’s move to Proof-of-Stake. A final prediction in the report puts total staking rewards at $40 billion by 2025.
The CEO of Skybridge Capital, Anthony Scaramucci, has announced that the firm will launch an Ethereum fund. The fund is planned to be a private fund. Alongside this, Skybridge Capital has filed for an Ether ETF with the SEC. The fund already has a pending Bitcoin ETF filed with the SEC.
Fixed Forex, Andre Cronje's latest DeFi endeavor, has been detailed in a blog post. By providing collateral, Fixed Forex allows users to manufacture and exchange multiple fiat-pegged stablecoins. Fixed Forex will be implemented on top of Curve Finance in its final version.
Technically, ETH broke out of the red trendline as we forecasted in our last week’s report. Now we give a high probability for the continuation of the upside, especially if the small resistance marked on the chart is broken. We give a smaller probability for the support area to be retested once again.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
The CEO of Skybridge Capital, Anthony Scaramucci, has announced that the firm will launch an Ethereum fund. The fund is planned to be a private fund. Alongside this, Skybridge Capital has filed for an Ether ETF with the SEC. The fund already has a pending Bitcoin ETF filed with the SEC.
Fixed Forex, Andre Cronje's latest DeFi endeavor, has been detailed in a blog post. By providing collateral, Fixed Forex allows users to manufacture and exchange multiple fiat-pegged stablecoins. Fixed Forex will be implemented on top of Curve Finance in its final version.
Technically, ETH broke out of the red trendline as we forecasted in our last week’s report. Now we give a high probability for the continuation of the upside, especially if the small resistance marked on the chart is broken. We give a smaller probability for the support area to be retested once again.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
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