Ethereum's native token, Ether (ETH), looks ready to undergo a massive rally due to a mix of technical and fundamental factors. From a technical perspective, ETH's price now eyes a 35% rebound by the end of October after holding testing a key support level. This level is a rising trendline that has capped Ether's downside attempts since June 2022, as shown below. In other words, traders have shown interest in buying Ethereum tokens near this level in recent weeks. Meanwhile, the accumulation sentiment has prompted the price to rise toward another significant level — a horizontal trendline resistance near $1,800, …

MakerDAO, the governing body of the Maker Protocol has seen its revenue plummet in the third quarter of 2022, caused by a fall in loan demand and few liquidations, while expenses have remained high. According to an Oct. 13 tweet by Johnny_TVL, a Messari analyst and co-author of “The State of Maker Q3 2022,” the decentralized autonomous organization saw its revenue plunge to just over $4 million in Q3, down 86% from the previous quarter. One of the results of this has been MakerDAO’s first quarter of net income loss since 2020. The Messari senior research analyst has pointed to …

One of the core development teams behind the Ethereum (ETH) Merge, Prysmatic Labs, has been acquired by Offchain Labs, the developer of Ethereum layer-2 network Arbitrum. Announced in an Oct. 13 blog post by Offchain Labs, the deal's financial terms were not disclosed, but it was noted Prysmatic Labs chose to join Offchain Labs "for many reasons," but mainly because of the two companies' alignment in their core beliefs. Prysmatic Labs co-founder Raul Jordan said the move will "build a unified team stronger than the sum of its parts." "Merging with Offchain Labs made perfect sense to us as an …

The United States Federal Reserve has been aggressively hiking rates in an attempt to cool down inflation and that has kept the U.S. equities markets under pressure. Investors have been closely watching the inflation figures for early signs of topping out but to no avail. Wholesale prices rose 0.4% in September, exceeding the Dow Jones' estimate for a 0.2% gain. This suggests that inflation is yet to respond to the Fed’s monetary tightening. All eyes will now be fixed on the consumer price index data to be released on Oct. 13. Equity traders can expect volatility to pick up following …

Google’s latest crypto feature enables some Ethereum wallet addresses to have their ETH balances tracked straight off of the Google search engine — saving the need to make the trip to Etherscan. The feature was first made public by the Principal of Google Ventures Han Hua in an Oct. 11 Twitter post. Well done, blockchain address is now available in Google Search! pic.twitter.com/7IuKv1gddR — Han⚡️ (@hhua_) October 11, 2022 But Cointelegraph’s attempt to search for a Bitcoin address revealed a no-show on Google. Angel Investor Stephen Cole was not impressed, tweeting "Does Google not know about Bitcoin?" Cointelegraph also tried …

On this week’s The Market Report show, Cointelegraph’s resident experts discuss if the new consumer price index (CPI) and United States inflation data will be bullish or bearish for Bitcoin (BTC). To kick things off, we break down the latest news in the markets this week: Related: Biggest mining difficulty spike in 14 months — 5 things to know in Bitcoin this week Macro forces are brewing, while Bitcoin network fundamentals defy the bears — which side will win out when it comes to BTC price action? The price of Bitcoin has been relatively uneventful and boring these past few …

Major stablecoin issuer Tether froze yet another batch of USDT on the Ethereum blockchain, freezing more than $8 million worth of the cryptocurrency. Crypto monitoring resource Whale Alert has identified several transactions indicating that Tether froze three USDT addresses on Oct. 10. According to data from transaction logs on Etherscan, the frozen addresses hold 3.4 million USDT, 1.95 million USDT and 2.9 million USDT. The addresses are no longer able to move funds and collectively hold $8.2 million worth of the USDT stablecoin. "Tether works closely with law enforcement worldwide to assist in investigations, including freezes," a spokesperson for Tether …

A new layer-3 (L3) prototype aimed at further solving Ethereum’s scalability issues is set to be deployed for testing as soon as Q1 2023. zkSync, a provider of zero-knowledge blockchain solutions on Oct. 10 announced it is aiming to deploy a new EVM-compatible layer-3 prototype called “Pathfinder” on testnet early next year. zkSync is a L2 Ethereum scaling protocol designed to bring down network usage costs. It launched a 1.0 version back in June 2020, and is now gearing up for the launch of zkSync 2.0 later this month. In its most recent blog post the team explained that the …

Crypto market turbulence can be an immensely stressful time for customer support staff at crypto exchanges, with companies vastly bolstering headcounts just to meet demand during surges. Speaking to Cointelegraph, Alex Harper, co-founder and CEO of Australian crypto exchange SwyftX said that “no matter what your role title is [...] no one was above customer support at Swyft." He said that he, along with staff members from human resources and the CFO have had to work late into the night on occasion to assist their customer support teams when markets go crazy, explaining: “Elon Musk quotes posts about Dogecoin, you …

The United States equities markets have started the week on a weak note as investors remain unconvinced that the Federal Reserve will pull back its aggressive monetary policy. The Nasdaq Composite index fell to its lowest level since September 2020. All eyes will be fixated on the U.S. Consumer Price Index data for September to be released on Oct. 13 as that could influence the Fed’s decision on the size of the rate hike in the next meeting in November. Depending on how the market perceives the reading, legacy markets and the cryptocurrency markets may witness a pick up in …

Decentralized Ethereum (ETH) scaling platform Polygon (MATIC) announced the launch of Polygon zkEVM Public Testnet, an “Ethereum-equivalent” ecosystem with cross-compatibility to existing smart contracts, developer tools, and wallets built on Ethereum and Polygon PoS. zero-knowledge Ethereum Virtual Machine (zkEVM) is a layer 2 construction on top of Ethereum that aims improve scalability through mass transfer processing rolled into a single transaction. The testnet launched under Polygon’s zero-knowledge R&D team as a full-featured, open-source implementation of zkEVM. Decentralized finance (Defi) protocols Aave and Uniswap, along with Web3 social platform Lens and gaming studio Midnight Society, will be among the first projects …

The people of the Turkish crypto ecosystem are very eager to apply the age-old words of wisdom, “The bear market is an opportunity to build,” to make İstanbul -the business hub of Turkey- home to the global hype surrounding Ethereum. Turkey is one of the most active countries in crypto and blockchain, and its interest extends beyond market movements. Along with a considerable base of crypto investors, the local community consists of university clubs, Web3 startups, blockchain developers and academics. The country has hosted significant events like ETHIstanbul, Blockchain Economy Istanbul and Istanbul Blockchain Week and aims to achieve more. …