Ether (ETH) rallied 35% over the past 10 days and reclaimed the critical $2,300 support, but the crucial $2,450 local top hasn't been tested since June 17. Part of the recent recovery can be attributed to the London hard fork, which is expected to go live on Aug. 4. Traders and investors view the EIP-1559 launch as a bullish factor for Ether's price because it is expected to reduce gas fees. However, Ethereum miners are not thrilled with the proposal because the proof-of-work model will no longer be necessary after Ethereum 2.0 goes live. The network fees will be set …

Blockchain developer Neon Labs has created a compatibility bridge between Ethereum and Solana, opening the door to more cross-chain development opportunities for Ethereum programmers. Neon’s Ethereum Virtual Machine, or EVM, has deployed via testnet on Solana, the company announced Tuesday. The EVN grants any decentralized application on Ethereum access to Solana’s high throughput capacity and lower gas fees. Essentially, Neon EVM allows anyone to run Ethereum contracts directly on the Solana blockchain. Even during the testnet phase, Neon’s EVM will support decentralized applications such as Uniswap, SushiSwap, MakerDAO and 0x. The mainnet is expected to launch later this quarter. “Ethereum …

Ethereum (ETH) has enjoyed a good run so far in 2021, with its value increasing from about $1,300 at the beginning of the year, to nearly $4,000 in May. However, Ethereum’s price aside, consistent problems on the Ethereum blockchain have brought to light the anger of traders and decentralized application (DApp) developers on the Ethereum ecosystem. Lack of scalability and high gas fees are the main issues. As one of crypto’s biggest platforms for decentralized applications, Ethereum has been dealing with network congestion that reflects the high gas fees that people have had to pay with every transaction. Since the …

Over the past week, astute crypto market analysts noticed some interesting developments related to the supply of Ether (ETH) as the network’s Aug. 4 London hard fork approaches. Recent data from CryptoQuant, an on-chain analytics firm, indicates that the amount of Ether held in cryptocurrency exchanges’ reserves has hit new daily lows since the start of July. To determine if this is a bullish or bearish development for the top altcoin, let’s take a closer look at some of the factors playing a role in the increased demand for Ether, including the Eth2 staking contract, increased activity in decentralized finance …

This year’s 500% accumulated gain took Ether’s (ETH) price to a $4,380 all-time high on May 12, and this rally was even more robust than the late-2017 move. The famous bull market, or bubble, depending on how you see it, took Ether’s price on a 390% rally from $290 in November 2017 to $1,420 in mid-January 2018. Maybe this year’s mega rally was a DeFi and NFT bubble that will take another two years to reclaim its peak, but it seems premature to make a prediction now. However, some analysts, including Celsius Network CEO Alex Mashinsky, argue that Ether’s "flippening" …

Ether’s (ETH) $1.5-billion monthly expiry on June 25 was slightly favorable for bears, and at the time, Cointelegraph reported that the $2,200 price was critical to eliminate 73% of the neutral-to-bearish put options. However, bulls were unable to sustain their advantage because the expiry price was near $1,950. In the end, the protective put options outnumbered the neutral-to-bullish call options by $30 million. Fast forward to July, and after a noticeable 10% rally, Ether’s price again struggles to sustain the $2,100 support. Bitcoin’s (BTC) negative 3.5% performance could partially explain last week’s price move, but the London hard fork scheduled …

The drop in the price of Ether (ETH) is failing to shake out the long-term holders, while the decentralized finance (DeFi) sector is also providing opportunities for investors. So suggests a new Glassnode report that noted many long-term Ether holders (>155 days) are sitting atop profits despite ETH/USD’s 55% decline from its peak level above $4,300. In comparison, the short-term Ether holders (<155 days) watched their gains evaporate and are now sitting underwater. “After almost hitting 46% of the market cap in unrealized gain, short-term holders are now holding an aggregate paper loss of -25% of the market cap,” Glassnode …

An overnight bounce across the cryptocurrency assets this Wednesday saw Solana (SOL) outpacing its top rivals, including Bitcoin (BTC) and Ether (ETH). The SOL/USD exchange rate surged 55.10% to $31.58 on Wednesday after bottoming out at $20.14 in the previous session. Its move uphill came in the wake of an overall crypto market retracement that, in turn, followed a brutal crash in response to a full-fledged crypto ban in China. Solana was among the loss-bearers at the beginning of this week. SOL/USD plunged by more than 42% after opening Monday at $35.22. Similarly, Bitcoin lost 19.07% in the same period, …

In terms of price potential, Bitcoin (BTC) is staring at the possibility of outperforming Ether (ETH) in the short term. So believes David Lifchitz, chief investment officer at ExoAlpha — a Paris-based investment management service — who noted that Bitcoin’s upside potential in the near term is higher than that of Ether’s. He said so after spotting a recent shift in the BTC/ETH ratio. In detail, BTC/ETH compares the trend momentum of Bitcoin and Ether. A lower reading suggests that Bitcoin’s price is rising slower than Ether’s. Conversely, a higher BTC/ETH ratio indicates that the Bitcoin price momentum is gaining …

On June 25, Ether (ETH) will face its largest options expiry in 2021 as $1.5 billion worth of open interest will be settled. This figure is 30% larger than the March 26 expiry, which took place as Ether’s price plunged 17% in five days and bottomed near $1,550. However, Ether rallied 56% after March’s options expiry, reaching $2,500 within three weeks. These moves were completely uncorrelated to Bitcoin’s (BTC). Therefore, it is essential to understand if a similar market structure could be underway for June 25 futures and options expiry. Recent history shows a mix of bullish and bearish catalysts …

A recent run-up in Ether (ETH) prices against its top rival, Bitcoin (BTC), appears to be at the risk of exhaustion, even as analysts see the second-largest cryptocurrency as the stronger of the two. The ETH/BTC exchange rate has risen by up to 40.19% after bottoming out at 0.0553 BTC on May 23. The powerful rebound move reflected a spike in the capital flow from the spot ETH to spot BTC market. That also led analysts at Delphi Digital, an independent market research firm, to highlight Ether's "formidable strength" in the Bitcoin-quoted markets. They wrote: "If you look at the …

After a recent slump across cryptocurrency markets, Ether has surged to new all-time highs off the back of a number of important events and metrics. Overall, 2021 promises to be a crucial year for the Ethereum blockchain as developers continue to work toward the network’s integration with Ethereum 2.0, which will see the blockchain part ways with its original proof-of-work consensus algorithm in favor of the touted energy- and cost-efficient proof-of-stake consensus. While the technical details may not concern many day-to-day Ether (ETH) users and traders, the recent price action of ETH, coupled with a number of significant events, suggests …