Ethereum Financial News

The altcoin market crashed significantly in the month of May. Ethereum, the largest altcoin extended its decline below the $1,820 support against the U.S Dollar. At press time, ETH suffered a fresh 11% correction as it traded below $1,7300.

The Terra governance has approved the proposal to burn a certain amount of TerraUSD (UST) tokens. The tokens were held in the project’s community pool and also deployed for past liquidity on Ethereum.

In another attempt to support the revival of Terra (LUNA), the community voted to burn a large amount of UST from its community pool. 

Ethereum co-founder Vitalik Buterin has shared two thought experiments on how to evaluate whether an algorithmic (algo) stablecoin is sustainable.

altcoins such as Ether, Solana and Avalanche take a beating. Traders are partially stumped, but for Ethereum, the signs of a lack of demand have been building for quite some time. The impact of the collapse of Terra, a blockchain ecosystem that supported one of the biggest experiments in decentralized finance, knocked an already bearish market into wild contagion this month. While Terra’s operators had passed a revival plan to start afresh on a totally new blockchain on Wednesday, investors in the rest of DeFi were less than convinced. A glitch in the process to make the Ethereum network less energy intensive added to the concern. “Bearish sentiment remains the theme for cryptos,” said Edward Moya, senior market analyst at Oanda. He noted that Ethereum’s growing list of competitors could make the fallout from unexpected hitches to its update, known as the Merge, particularly intense.

Ethereum, the largest altcoin has continued to take measures to complete the much anticipated ‘merge’ into ETH 2.0. Although, at first scheduled in June had been postponed. As the thing stands, there is no final deadline for the complete outcome. Nonetheless, it didn’t quite stop validators from staking their share, showcasing their support.

The cryptocurrency market was hit with another round of selling on May 26 as Bitcoin (BTC) price dropped to $28,000 and Ether briefly fell under $1,800. The ETH/BTC pair also dropped below what traders deem to be an important ascending trendline, a move which traders say could result in Ether price correcting to new lows.

Ether's (ETH) performance over the past three months has been less than satisfying for holders and the 50% correction since April 3 caused the altcoin to test the $1,800 support for the first time since July 2021.

Ethereum is down again! The largest altcoin has continued to disappoint investors as it is struggling to rise above the $2,000 price level. The Ethereum Foundation has already announced the final date for the Merge in August. But the current trajectory is a sore sight for the community as it stumbles on the price chart.

Ethereum Classic would have been a healthy choice if you were on the hunt for a bullish cryptocurrency this week. ETC is among the few cryptocurrencies that have experienced significant upside in the last few days but its rally might be short-lived.

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.

Despite a huge sell-off in cryptocurrencies, JPMorgan believes that Bitcoin’s fair price is 28% higher than its present level. This would seem to signal a “significant upside from here.” In fact, the firm had also claimed that $38,000 would be a reasonable price for Bitcoin.

According to minutes of their last meeting, released Wednesday, US Federal Reserve officials indicated that they would have to raise interest rates by 0.5 per cent in each of their next two meetings. Barring stablecoins Tether and Tron, major crypto tokens were trading lower on Thursday. Avalanche tanked over 5 per cent, followed by a 4 per cent drop in Solana and Polkadot each. Ethereum shed 3 per cent.

Bitcoin (BTC) disappointed bulls on upside prior to the May 26 Wall Street open as BTC/USD returned under $29,000.

The Beacon Chain, which will introduce proof-of-stake (PoS) to Ethereum (ETH), experienced a seven-block reorganization (reorg) on Wednesday.

Shiba Inu and Ethereum whales have developed a profound relationship recently. With the famous meme token available at discounted prices, whales have been busy with accumulation. Several whales have been buying SHIBA tokens in huge amounts. 

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice

Bitcoin's dominance is at a one-year high but traders are looking more interested in other altcoins. However, the markets, overall, remained range bound. Bitcoin outperformed the majority of the altcoins, holding about $30,000 mark. However, market experts said that Bitcoin is in a danger zone as the sentiment for risky assets have taken off. Crypto tokens were trading with mixed cues on Wednesday. Tron rallied over 6 per cent, whereas Bitcoin and BNB gained 3 per cent each. Polkadot, Avalanche and Shiba Inu were among the top losers.

Ahead of the Merge tentatively penciled in for August, Ethereum’s Beacon Chain experienced a seven-block reorganization (reorg) yesterday.

Ethereum, the largest altcoin seems to have done the overdue homework regarding its fee structure. Ethereumnetwork fees plummeted in May, below $10 per transaction. Likewise, cheaper fees on layer one (L1) made layer two (L2) fees between $0.02 and $1.13 per transaction.

At press time, Ethereum’s estranged sibling Ethereum Classic [ETC] was trading at $23.75 after rallying by 7.34% in a day and 13.60% over the past week. This time last year, however, ETC was changing hands at slightly over $78. So, why does the latest rally have investors excited?