Hochan Cheung, head of marketing at Korea-based analytics firm CryptoQuant, said the coins have been moved to derivative exchanges, which indicates investors are trying to hedge their position in case of price volatility around the Merge, slated to happen in three hours from now. Source
Despite what often feels like a whirlwind of price movement, ETH’s volatility has narrowed leading into the Merge. Investors should note, however, that historically, diminishing volatility has not always trended in a straight line. ATR spikes in February, May and June were noticeable and could certainly be repeated. Source
Por su parte, XRP cayó 8%, SOL (de solana) perdió 7% y ADA (de cardano) disminuyó 7,5%. Fuera de las principales criptomonedas, ATOM (de cosmos) bajó 11%, APE (de ApeCoin) cayó 12% y luna classic (LUNC) perdió 14%, continuando las caídas de principio de esta semana. Source
While the probability of the Merge failing is relatively low, ether’s price could drop after the upgrade for two reasons. Firstly, ether has gained nearly 55% in the two months leading up to the Merge in a classic “buy-the-rumor” type move. So some profit taking may be seen after the Merge. Further, ether may not immediately become a deflationary currency with depreciating supply after the Merge, disappointing those positioned for the supposedly-bullish effect to kick in right away. Source
Bitcoin fell some 9% in the past 24 hours, the most among major cryptocurrencies, while ether dropped 6%, CoinDesk data shows. Ether dropped to as low as $1,560 during late U.S. hours on Tuesday, before recovering to as much as $1,622 during Asian morning hours on Wednesday. Original
● Bitcoin (BTC): $20,272 −9.5% ● Ether (ETH): $1,615 −6.4% ● CoinDesk Market Index (CMI): $1,019 −7.1% ● S&P 500 daily close: 3,932.69 −4.3% ● Gold: $1,712 per troy ounce −0.9% ● Ten-year Treasury yield daily close: 3.42% +0.06 Bitcoin, ether and gold prices are taken at approximately 4pm New York time. Bitcoin is the CoinDesk Bitcoin Price Index (XBX); Ether is the CoinDesk Ether Price Index (ETX); Gold is the COMEX spot price. Information about CoinDesk Indices can be found at coindesk.com/indices. Original
Some $49 million worth of stETH has flowed into the vault since the ceiling was raised, data from tracking service Daistats shows. Staked ether is a token supplied to users who lock up ether on Lido, a staking service, and receive the stETH tokens in return. More than 245,377 stETH is locked on Maker, the data shows. Maker has a total value locked of $8.4 billion. Source
▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io It is easy to get swept away in sensationalist price predictions, but some things with Bitcoin remain true, and that is diminishing returns. While it is not a cool thing to say, the charts do not lie. In this video we take a look at the Bitcoin 1, 2, 3, and 4 year return on investment (ROI) and identify key trends. Make sure you actually think about this chart because the conclusions from it are not necessarily what you would expect. Where…
In an interview on CoinDesk’s First Mover TV program, head economist of decentralized protocols at software company ConsenSys, said that cryptocurrencies respond to external events similar to other riskier assets. “The story about the macroeconomic environment is, if it allows consumers to have a larger budget – and certainly the COVID environment was that – they’re more likely to take risks, they’re more likely to use Web3 and try new protocols,” he said. “And if they’re compressed, and they’re much more worried about paying down their mortgages or their rents,…
Sokolin, who focuses on areas of decentralized finance and autonomous organizations (DAOs), said Ethereum’s use as collateral in DeFi suggests there are those who are “certainly supportive of ETH as a store of value, ultrasound money type asset.” Source