#1 Source for BlockChain News

Category archive

ethereum price chart

Ethereum

Ethereum (ETH) Surges As 20,000 ETH Order Triggers Buying Spree

Ethereum (ETH) has recovered after plunging below the $200 level on surging bearish pressure early in the week. A rebound past the $220 mark comes amidst reports of a buy order for 20,000 ETH on Binance exchange.

Ethereum Whale Order

Ethereum had initially slumped to the $190 level after a big trading group reportedly placed a sell order for 15,000 ETH. The sell order went on to rattle traders, triggering a massive sell-off in the broader cryptocurrency sector. Just like Ethereum, Bitcoin also attracted some selling pressure, consequently plunging below the $10,000 level.

But now a buy order is reversing that, coming in at 20,000 ETH, and reinvigorating investor confidence about crypto’s long-term prospects. The 20,000 ETH buy order, however, also arouses concerns of possible prop bids often used by whale traders to inflate trades. Such bids are often used to entice retail traders to buy into a given trend. A loading wall is the opposite of prop bid, used to scare retail investors into entering sell positions on a given trade.

Regulatory Pressures

Ethereum’s spike comes amidst soaring pressure from high-ranking policymakers pushing for increased regulation of cryptocurrency. France indicated that Facebook (NASDAQ:FB) will have to adhere to strict rules to operate its Libra crypto in the country, which affirms the emergence of stringent regulations that could affect the overall sector.

>> Bitcoin Recovers Quickly on Technical Bounce: What Comes Next

Stringent regulations by authorities around the world are one of the biggest headwinds standing in the way of cryptocurrencies going mainstream. While the likes of Facebook and JPMorgan (NYSE:JPM) have launched cryptocurrencies, regulators are remaining tough on fears that multinationals are encroaching on areas that are a preserve of governments.

France has already asked the European Central Bank to set up a task force, tasked with the responsibility of looking into cryptocurrencies and digital currencies. The sentiments come hot on the heels of China and India banning crypto altogether.

On the chart, Ethereum is looking neutral. Any further surge above the $228 mark could allow for more upside towards the $250 zone. On the downside, $195 holds key support. The potential for growth is still high, as cryptocurrencies have bounced back after a roller coaster 2018. A rally past the $300 mark should reaffirm the ETH bullish trend that began early in the year.

Featured image: DepositPhotos © sadsadang

If You Liked This Article Click To Share

!function(f,b,e,v,n,t,s)if(f.fbq)return;n=f.fbq=function()n.callMethod?
n.callMethod.apply(n,arguments):n.queue.push(arguments);if(!f._fbq)f._fbq=n;
n.push=n;n.loaded=!0;n.version=’2.0′;n.queue=[];t=b.createElement(e);t.async=!0;
t.src=v;s=b.getElementsByTagName(e)[0];s.parentNode.insertBefore(t,s)(window,
document,’script’,’https://connect.facebook.net/en_US/fbevents.js’);
fbq(‘init’, ‘894368744004449’);
fbq(‘init’, ‘447469122301599’);
fbq(‘init’, ‘1763072463990516’);
fbq(‘track’, ‘PageView’);

(function(d, s, id)
var js, fjs = d.getElementsByTagName(s)[0];
if (d.getElementById(id)) return;
js = d.createElement(s); js.id = id;
js.src = “http://connect.facebook.net/en_US/sdk.js#xfbml=1&version=v2.6”;
fjs.parentNode.insertBefore(js, fjs);
(document, ‘script’, ‘facebook-jssdk’));

Ethereum futures

Ethereum Futures Already Gaining Significant Support in the Industry

Ethereum (ETH) is the second largest virtual currency in terms of market cap, and for quite some time investors have been expecting Ethereum futures that seem to, at last, be happening. However, these expectations have faced interest concerns and regulatory uncertainty regarding the crypto asset.
Ethereum Futures Realized

The expectations for Ethereum futures appear to have been realized with The Block reporting that one of the largest global exchanges, CME Group, was preparing to release a futures product for Ethereum. The Chicago-based CME Group was the institution that launched Bitcoin futures during the cryptocurrency boom in 2017.

What this means according to The Block is that CME is changing Ethereum’s reference rate and Index, which is an indication that Ethereum futures are imminent. According to an industry source, the alterations that are being made are for the “preparation of an Ether” vehicle. However, the source indicates that the cash-settled futures such as the CME’s crypto contracts can be altered and thus need a strong index to help in risk mitigation. The latest changes are seen as a way of boosting the confidence of regulators to accept Ethereum products.
Ethereum Futures Gaining Support

The development comes at a time when Ethereum futures are gaining support from a number of cryptocurrency users in the industry. For instance, Thomas Chippas, the CEO of ErisX, has emphasized the need of having an Ethereum vehicle since ETH has a very vibrant and real community, appropriate institutional involvement, and precise use cases, as well as other good tenets in the industry.

>> Stablecoin Market is Showing Signs of Solid Growth

Early in the year, a CFTC official claimed that government officials at the CFTC were friendly to Ethereum after they claimed that the body was content with the crypto asset. He added that when a derivative exchange wants to launch a derivative that meets the CFTC requirement, they will be certified.

The news of the Ethereum futures comes at a time when various crypto exchange startups have received licenses to begin listing physically-delivered Bitcoin vehicles.

What do you think of the news?

Featured image: DepositPhotos © Syda_Productions

If You Liked This Article Click To Share

!function(f,b,e,v,n,t,s)if(f.fbq)return;n=f.fbq=function()n.callMethod?
n.callMethod.apply(n,arguments):n.queue.push(arguments);if(!f._fbq)f._fbq=n;
n.push=n;n.loaded=!0;n.version=’2.0′;n.queue=[];t=b.createElement(e);t.async=!0;
t.src=v;s=b.getElementsByTagName(e)[0];s.parentNode.insertBefore(t,s)(window,
document,’script’,’https://connect.facebook.net/en_US/fbevents.js’);
fbq(‘init’, ‘894368744004449’);
fbq(‘init’, ‘447469122301599’);
fbq(‘init’, ‘1763072463990516’);
fbq(‘track’, ‘PageView’);

(function(d, s, id)
var js, fjs = d.getElementsByTagName(s)[0];
if (d.getElementById(id)) return;
js = d.createElement(s); js.id = id;
js.src = “http://connect.facebook.net/en_US/sdk.js#xfbml=1&version=v2.6”;
fjs.parentNode.insertBefore(js, fjs);
(document, ‘script’, ‘facebook-jssdk’));

cryptocurrencynews.com | 502: Bad gateway

Bad gateway

Ashburn

Cloudflare

Working

cryptocurrencynews.com

Host

Error

What happened?

The web server reported a bad gateway error.

What can I do?

Please try again in a few minutes.

Ethereum

Ethereum (ETH) Soars 8%, Outperforms the Broader Cryptro Market

Ethereum (ETH) and the crypto market have today seen a sudden surge in buying pressure, allowing them to continue with the upward momentum that has been exhibited in the last few months.

Analysts believe that Ethereum will continue with the upward trend in the near term and could outperform Bitcoin in the long term because of the increasing adoption of Ethereum by companies such as Ubisoft.

Ethereum Up 8% in the Last 24 Hours

Currently, ETH is trading around 8% up its present price of $259.50, gaining significantly in the last 24-hours from lows of $240 set earlier in the day. The significant market surge has seen the coin jump to a new weekly high, bringing it closer to $285, which was its year-to-date high set late last month when the whole cryptocurrency market saw a brief surge before experiencing significant selling pressure that sent the market reeling lower.

Ethereum is currently among the top performing altcoins in the market, just behind Litecoin that has led the market surge in the last couple days by jumping close to 31% in the past week. According to popular cryptocurrency analyst The Cryptomist, Ethereum will continue surging in the near term, and she believes that it could easily get to $300 by July.

>> Legal & General Partners with Amazon to Develop Blockchain System

ETH Could Outperform Bitcoin

Even though it is not practical to conclude that the coin is expected to continue surging higher going forward, one analyst is optimistic that in the next 24 months, ETH will outperform Bitcoin. In a tweet, another popular crypto trader, Bitcoin Jack, indicated that he thinks the long consolidation period of Ethereum against Bitcoin will potentially allow it to grow significantly higher in the next few years.

The performance of Ethereum will continue to be bolstered by its growing adoption. Recently, gaming giant Ubisoft announced that it was considering using the Ethereum blockchain for games as well as in-game functions.

Although it is not easy to say where the crypto market is headed in the long term, for now, there is a strong upward momentum that will most likely persist for some time, allowing Ethereum to gain significantly.

Featured image: DepositPhotos © yuliang11

If You Liked This Article Click To Share

!function(f,b,e,v,n,t,s)if(f.fbq)return;n=f.fbq=function()n.callMethod?
n.callMethod.apply(n,arguments):n.queue.push(arguments);if(!f._fbq)f._fbq=n;
n.push=n;n.loaded=!0;n.version=’2.0′;n.queue=[];t=b.createElement(e);t.async=!0;
t.src=v;s=b.getElementsByTagName(e)[0];s.parentNode.insertBefore(t,s)(window,
document,’script’,’https://connect.facebook.net/en_US/fbevents.js’);
fbq(‘init’, ‘894368744004449’);
fbq(‘init’, ‘447469122301599’);
fbq(‘init’, ‘1763072463990516’);
fbq(‘track’, ‘PageView’);

(function(d, s, id)
var js, fjs = d.getElementsByTagName(s)[0];
if (d.getElementById(id)) return;
js = d.createElement(s); js.id = id;
js.src = “http://connect.facebook.net/en_US/sdk.js#xfbml=1&version=v2.6”;
fjs.parentNode.insertBefore(js, fjs);
(document, ‘script’, ‘facebook-jssdk’));

ethereum

Ethereum Price Jumps 8% | CTFC Approving Futures Trading Soon?

Ethereum is now firmly established as the cryptocurrency with the second biggest market cap after Bitcoin, and more good news could be on the way for the coin if recent reports regarding CTFC approval of Ethereum futures are to be believed.

According to a report from Coindesk, the United States Commodity Futures Trading Commission could be all set to approve it, provided Ethereum passes the commission’s stringent tests. Needless to say, it would be a significant development for the cryptocurrency if it eventually comes to pass.

ETH is up by 8% at the time of writing.

Breakthrough

The main target of many cryptocurrencies is often to get mainstream legitimacy, and it is no different when it comes to Ethereum. This is a particularly significant development since it opens up the field for large institutional investors to get into Ethereum in a big way. If the approval is actually granted, then there is every chance of Ethereum carving out a much bigger niche for itself in the crypto market at large.

For many years, institutional investors have not been comfortable with investing in cryptocurrencies, since crypto exchanges do not provide the sort of security that they look for. Plenty of cryptocurrency exchanges have been attacked, and investors have lost millions over the years. For institutions to invest large sums of money, secure channels need to be available, and the approval of Ethereum futures could be just the instrument to provide this.

>> Pepsi Blockchain Trial a Success: Company Plans to Conduct More Soon

Strong Possibility of Approval

According to an official at the CTFC, there is a definite possibility of Ethereum futures being approved. The anonymous sources stated that once the application comes through to the CTFC, the body reviews the application and, if the requirements are met, permission is granted.

The source went on to state that there is a very high possibility of Ethereum being granted this permission since the CTFC is comfortable with that particular coin. It is important to note that Bitcoin futures have been in circulation since 2017 and with the crypto market rising again, it could be just the right time to introduce Ethereum futures.

Featured image: DepositPhotos © yuliang11

!function(f,b,e,v,n,t,s)if(f.fbq)return;n=f.fbq=function()n.callMethod?
n.callMethod.apply(n,arguments):n.queue.push(arguments);if(!f._fbq)f._fbq=n;
n.push=n;n.loaded=!0;n.version=’2.0′;n.queue=[];t=b.createElement(e);t.async=!0;
t.src=v;s=b.getElementsByTagName(e)[0];s.parentNode.insertBefore(t,s)(window,
document,’script’,’https://connect.facebook.net/en_US/fbevents.js’);
fbq(‘init’, ‘894368744004449’);
fbq(‘init’, ‘447469122301599’);
fbq(‘init’, ‘1763072463990516’);
fbq(‘track’, ‘PageView’);

(function(d, s, id)
var js, fjs = d.getElementsByTagName(s)[0];
if (d.getElementById(id)) return;
js = d.createElement(s); js.id = id;
js.src = “http://connect.facebook.net/en_US/sdk.js#xfbml=1&version=v2.6”;
fjs.parentNode.insertBefore(js, fjs);
(document, ‘script’, ‘facebook-jssdk’));

1 2 3 6
Go to Top
%d bloggers like this: