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Ethereum News
Cryptonews
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Reddit Reverses Crypto Strategy, Sells Off BTC and ETH Held for Treasury
- Social media giant Reddit has sold off the majority of its crypto holdings, worth nearly US $7 billion.
- The move was made to mitigate the unique risks associated with holding digital assets.
- Unfortunately, Reddit sold just before Bitcoin's price surged, resulting in significant opportunity cost.
- Reddit still believes in the potential of cryptocurrencies but is cautious due to their volatility and unique risks.
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Cryptonews
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Ether Drops 5% as ‘Mini Crash’ in Crypto Market Drives Bitcoin Below $70k
- Bitcoin and other cryptocurrencies experienced a significant drop, contrary to analyst predictions of a new all-time high.
- The decline in the crypto market coincides with decreasing chances of Donald Trump winning the presidential election.
- Market experts remain optimistic about the future of cryptocurrencies post-election.
- Recent trading resulted in $220 million in liquidations, marking a notable market pullback.
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Newsbtc
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Ethereum Blobs Are ‘Insanely Bullish” For ETH Price: Breakthrough Research
- Head of Crypto Research at BlueYard Capital, Tim Robinson, shares groundbreaking simulations indicating that Ethereum's implementation of 'blobs' could significantly impact the long-term price of ETH.
- Blobs, introduced in Ethereum Improvement Proposal (EIP)-4844, enhance Ethereum's scalability and economic dynamics by efficiently storing and processing data off-chain.
- Robinson's simulation projects Ethereum operating at 10,000 transactions per second (TPS), burning 6.5% of its total ETH supply annually, with L2 transactions costing an average of $0.06.
- The research highlights the potential for rapid escalation of ETH burning as blob usage increases, showcasing the inverse relationship between ETH price and the burn rate.
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NullTX
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Reddit Sells Most Of Its Crypto Holdings As Ethereum Sees Positive Futures Sentiment
- Reddit has sold the majority of its cryptocurrency holdings, including Bitcoin and Ethereum, marking a shift in strategy.
- Ethereum futures show positive sentiment with strong bullish funding rates, indicating growing confidence in its price potential.
- Bankrupt crypto lending platform BlockFi transfers large amounts of ETH to Coinbase Prime as part of its asset liquidation process.
- Ethereum spot ETFs experience a net inflow of $4.3576 million, highlighting investor interest in the cryptocurrency.
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Newsbtc
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Ethereum Price Completes 12 Weeks Of Bottom Formation, Analyst Says Don’t Aim Lower Than $4,900 ATH
- Technical analysis suggests that Ethereum price is completing a 12-week bottom formation.
- The price has been consolidating in a bullish Channel Up trend since June 2022.
- Ethereum's price is currently on an uptrend and moving towards bullish territory.
- If the price breaks above the weekly MA50, it could rally towards the channel's upper trendline and potentially reach a new all-time high above $4,900.
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Bitcoinist
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Ethereum Setting Up For A Potential Upward Breakout Rally, Here’s How
- Crypto enthusiasts and investors foresee a potential upward breakout rally for Ethereum, driven by rising optimism in the cryptocurrency market.
- IC News predicts a bullish outlook for Ethereum, highlighting key price levels that could define the scope of the upward trend.
- The $2,500 level has served as a crucial psychological support range for Ethereum, potentially acting as a launchpad for further upward movement.
- Investors show confidence in Ethereum's future performance as the Exchange Net Position Change metric trends downward, indicating a decrease in selling pressure.
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Medium
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What is the Role of Gas fees in Blockchain Transactions?
- Gas fees are payments made to miners for processing and validating transactions on blockchain networks.
- Gas fees act as fuel for blockchain transactions and incentivize miners to keep the network running smoothly.
- Ethereum 2.0 and updates like EIP-1559 aim to reduce gas fees and increase transaction efficiency.
- Layer 2 solutions and sidechains offer alternatives for high-fee transactions on Ethereum's mainnet.
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Hackernoon
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The HackerNoon Newsletter: The Art of Reviewing: Tips from HackerNoon Editors (10/31/2024)
- On October 31, 2024, the HackerNoon Newsletter brings top-quality stories to readers.
- The featured article is 'The Art of Reviewing: Tips from HackerNoon Editors' by @editingprotocol, offering insights on how to write balanced and credible reviews.
- Other articles include '6 Tips to Avoid Phishing Emails from Vlad Cristescu, Head of Cybersecurity at ZeroBounce', 'The #ethereum Writing Contest by DeGate HackerNoon: Results Announcement', and 'Python + SNMP = Real-Time NAS Disk Temperature Monitor: Learn How I Did It'.
- Additionally, there is a brief article titled 'The Shadow Resume: Exploring Job Hunting on the Dark Web'.
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Hackernoon
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The #ethereum Writing Contest by DeGate & HackerNoon: Results Announcement 🎉
- The #ethereum Writing Contest, organized by HackerNoon and DeGate, has announced the finalists and winners.
- The contest received over 50 #ethereum stories, gaining 50,000+ pageviews.
- The top 10 finalists were selected, covering topics such as Ethereum's decentralization, scalability, and security.
- The winners of the contest were announced, with @delegate0x winning the first place and receiving $500.
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9 Likes
Tokenhell
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96
Price Analysis October 31st, 2024 – BTC, BNB, ETH, SOL, XRP, and DOGE
- Bitcoin price rose near its peak on October 29th, but bears prevented it from reaching new levels.
- Positive employment data and a potential Trump victory could push Bitcoin to $100,000 in early 2025.
- Rising BTC price has caused FOMO among institutional investors, who have invested over $3 billion into spot Bitcoin ETFs.
- Support levels to watch if Bitcoin fails to guard $70,100 are $67,712 and the 50-day Simple Moving Average of $64,259.
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Coinpedia
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Trump’s Presidential Win Could Trigger Bitcoin and Gold Bull Rally: JPMorgan
- JPMorgan analysts suggest that a potential Trump victory in the U.S. presidential election could boost retail investor interest in Bitcoin and gold.
- The report highlights a growing trend among retail investors embracing the 'debasement trade' by investing in Bitcoin and gold ETFs.
- JPMorgan predicts significant growth in the crypto market by 2025, driven by the ongoing debasement trade and potential political changes.
- Institutional investors are cautious about Bitcoin futures, while retail investors continue to pour money into Bitcoin and gold ETFs.
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4 Likes
Zycrypto
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20,589% XRP Price Explosion Expected As Pundit Sees Ripple’s XRP Outshining Markets In Next Cycle
- Analysts predict that XRP may outperform Ethereum (ETH) and Bitcoin (BTC) in the upcoming market cycle.
- Despite recent challenges, some analysts remain optimistic about XRP's future, with potential for a 20,589% increase in value.
- Other analysts suggest that XRP could outperform BTC on a relative basis and may outperform other altcoins in the next cycle.
- Ethereum and Bitcoin face their own challenges, with ETH encountering resistance and BTC trading within an expanding triangle pattern.
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Tokenhell
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Reddit Sold Most of Its Bitcoin During the Third Quarter, SEC Filing Shows
- Reddit sold most of its crypto holdings during the third quarter, according to a filing with the US SEC.
- The social media platform dumped $6.8 million worth of Bitcoin and Ethereum but said the gains were 'immaterial.'
- Reddit is still holding another crypto, POL, and will require board approval for future crypto investments.
- The company's stock rose by 42% after the filing, and it reported a net income of $30 million in Q3.
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24 Likes
99Bitcoins
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Reddit Offloads Majority Of Bitcoin And Ethereum Holdings In Q3, Missing October’s Price Surge
- Reddit has sold off the majority of its Bitcoin and Ethereum holdings in Q3, missing out on October's price surge.
- The social media platform had been investing in Bitcoin and Ether since 2022 but decided to reduce its cryptocurrency assets.
- Reddit's updated investment policy now requires board approval for future crypto purchases, limiting acquisitions to Bitcoin, Ethereum, or other non-security assets.
- The move coincides with a reported decline in advertising revenue across sectors like technology and cryptocurrency.
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Altcoinbuzz
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Vitalik Buterin on The Splurge: Exploring Ethereum’s Future
- The Splurge is the sixth step in Ethereum's roadmap, focusing on upgrades that don't fit into the previous five steps.
- The goals of The Splurge include reaching a stable 'endgame state' for EVM, offering more secure and convenient accounts with account abstraction, enhancing transaction fee economics and scalability, and researching advanced cryptography.
- The Splurge roadmap includes EVM improvements, account abstraction, EIP-1559 improvements, verifiable delay functions (VDFs), and the future of cryptography.
- The Future of Ethereum follows a six-step roadmap, and The Splurge is the last step in this roadmap.
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