Ethereum Network Activity, DeFi Still Rising, When Will ETH Price Grow?

Fundamentally, Ethereum moves from strength to strength. Network activity is active, development is on the way, an update is imminent and DeFi is reaching record numbers. Still, ETH prices have fallen again, what is happening?

Ethereum Network Strengthens

Despite the FUD bargaining between Bitcoin maximalists and rival network supporters, Ethereum remains the second largest crypto asset for good reason. There are many ways to measure the state of the network, with the hash rate one and the activity second.

According to research conducted by Blockchain Analytics, more than 70,000 new addresses were created on the Ethereum network in the last 24 hours. In addition, there were approximately 245,000 active addresses that prove that things are still working well.

A summary of last month’s activity at Ethereum also reinforces things for the overall health of the network. Positive metrics include more than 9 million blocks mined in Ethereum, 15.6 million addresses with zero account balance and a solid increase in the use of DAP, including a record number of ERC-721 transactions in Ishtar, a popular game of digital commerce It is.
One of the most important developments in November was the MakerDAO protocol update that created a multi-collateral DAI, which now accepts Ether and Basic Totention Token (BAT) as a guarantee for the generation of Dai.

DeFi breaking record

Despite a 50% drop in the total capitalization of the crypto market in the last six months, decentralized finances based on Ethereum continue to grow.

The total amount of ETH blocked in the DeFi protocol reached a record high of more than 2.7 million. Slightly more than the record of the previous week. This is approximately 2.5% of the entire supply. In terms of USD, it is more than $670 million.

Why is ETH Dumping?

At the moment, the only positive thing about Ethereum is not its price. According to Tradingview.com, Ethereum has again dropped to $150. A few hours ago, ETH was dumped to $147 before a small stretch while struggling to stay.

Since last month, ETH has lost almost 20%, as it digitally surpasses its older brother. On a bright note, the asset is still quoted 37% more than the previous year. During those long and cold crypto winter months, ETH fell to a minimum of $ 85.

Countdown says that Istanbul is less than five days away and will present 6 EIPs, related to network security and gas cost reduction. However, the important point is that the update is the precursor to a major change for ETH 2.0, since the early stages of Serenity can start working.

The Ethereum roadmap may be delayed, but development is still advancing and the network is still strong. So the current value of the token is by no means an indication of the overall picture.

Bitcoin Bears Back as Sentiment Wanes, Will BTC Drop to $6,000?

After a positive week, in which BTC represented a solid 18%, the bears seem to be returning to the force. This perception is again negative as the Christmas rally is expected to fall a second time and analysts are analyzing $6k.

BTC consolidates but for how long?

BTC remains above $7k for the second day of this week and has begun to create a consolidation channel here. At first, it is only a few days before making a big move so that something is imminent.

The trade dropped to $7,150, according to Tradingview.com, last night, but quickly returned to $7,350, where the property is currently listed. In the hourly chart, Bitcoin supports the 200-hour moving average.

A death cross in this short period of time can cause more damage. The departure from the daily chart still shows a clear decrease with support greater than $6,800.

Merchant and analyst Josh Rager have conducted another mini-survey to assess general sentiment and this is a massive slowdown at this time. Approximately 57% of approximately 2,000 respondents believe that the BTC will fall to $ 6,500 before returning $ 8,000.
Another indicator of market sentiment is the Bitcoin fear and greed index, which currently records level 28 of ‘fear’. The feeling of recession spreads like a forest fire when things are in a downtrend. But the big picture tells a completely different story.

Why so tolerant?

The macroeconomist gs Riggs’ commented on the abundance of recession in the crypto Twitter;

“I find it funny that all these” top “people of Bitcoin on Twitter have become one of the 3 most important buying opportunities in the history of the investment. Does your small signal flash quickly and just throw in the towel? All the noise”

It is true that day by day things dominate the cryptographic social networks and only look for fast returns. There are probably many, if not more, investors that accumulate and keep assets. So these short-term charts do not make much sense to them.
This is also a valid statement, but it is often difficult for most to still be clearly in recession and sales continue.

There is also a small déjà vu with crypto markets here, as it happened almost this time last year. A rebound for crypto winters may be inevitable for most alternative currencies. But Bitcoin has increased by around 90% since the beginning of December 2018. If you return to those levels, it may be time to start worrying, but by then all that is really not needed is the feeling of recession.

Bitcoin Reaches Pivoting Point as Bulls Defend Key Support Level; Is a Rally Inbound?

After trying to promote Bitcoin (BTC) higher yesterday, the cryptocurrency bull lost some of its strength, pushing the bears to the cryptocurrency at $7,200. Which seems to be a significant level of support for the cryptocurrency, which buyers have defended constantly.

An analyst no longer realizes that the buyer’s ability to defend this level despite the seller’s current strength may mean greater impending stability, but analysts remain opposed to recovery. Will it be permanent or not?

Bitcoin Analyst Advises Money Investing into Market

For some reason or another, bearish sentiment has accelerated the bitcoin market; Now, it has countless cryptocurrency investors asking for another 80% drop in the market capitalization of digital assets.

Despite this hard feeling, an analyst has claimed that the proverbial crypto ball remains in favor of the bull from a long-term point of view. Popular analyst CryptoThies said in a recent tweet that by taking a look at the monthly Bitcoin chart. It may be unethical to curb cryptocurrencies.

Supporting his point, he looked at the register money flow indicator. Checkin Money Flow (CMF), says Investopedia an oscillator that is derived from MACD, a trend indicator to signal market strength.

Will Ethereum Basics Push it Higher? Analysts are Disagree

Ethereum has been closely monitoring the price action of Bitcoin for the past few days and weeks, with BTC maintaining a significant distance between its current price levels and recent lows with ETH. But in general, the crypto markets are getting closer. There is danger Reverse Word

Analysts are now debating whether Ethereum’s solid fundamentals will be sufficient to help the cryptocurrency rise further. If it will post more losses as the recent bitcoin momentum stalled.

Bitcoin Falls to $7,400, Making $6,000 likely again

After reaching $6,600, Bitcoin (BTC) experienced sharp price increase, only to return to $7,800 yesterday. This marked an increase of about 20% from the bottom, which led some to believe that the bottom is inside. However, in the last 12 hours, the cryptocurrency has begun to slide once again, causing bearish reactions from a number of industry analysts.

Bitcoin falls to $7,400

At the time of writing this article, bitcoin is trading for $7,400 in several major exchanges, losing 3% of its value in the last 24 hours. While this wasn’t conclusive a recessive movement. This means that new lows are coming, analysts believe that it is a precursor of the coming pain.

Bitcoin on Risk to Lose Upwards Momentum as Bears Battle Back

After making a great effort to exceed $8,000 yesterday, Bitcoin (BTC) lost the momentum that had been increasing over the past few days and began moving towards the $7,000 area.

The inefficiency of cryptocurrencies in excess of $ 8,000 has led analysts to conclude that BTC may be at risk of a reversal of its recent uptrend. Which means that more losses could be quite imminent.