3 reasons Ethereum’s momentum is only accelerating as ETH nears $600

Alongside the high anticipation for Ethereum 2.0, the high time frame breakout and daily gas usage on Ethereum remain key positive factors. Eth2 momentum accelerates in correlation with price The Eth2 mainnet will launch when the number of Ether (ETH) staked in the Eth2 deposit contract address hits 524,288. Data from CryptoQuant reveals that the value staked in the Eth2 deposit contract address is showing a correlation with the ETH price. ETH price versus total value staked on eth2.0. Source: CryptoQuant Ki Young Ju, CEO of CryptoQuant, noted that the…

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Ethereum’s top 10 DApps hit 1M users this month

Ethereum-powered decentralized applications, or DApps, have attracted more than one million active users over the last 30 days according to analytics platform DappRadar.  This milestone comes as interest in decentralized finance, commonly referred to as DeFi, received a second wind, with the number of users growing by 11% in the first 11 days of November. The ten DApps, six of which describe themselves as providing “DeFi and exchange” services, represent more than $21 billion in combined trading volume over the last 30 days. The top three DApps — Crypto.com’s DeFi…

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ConsenSys and Protocol Labs team up to integrate Filecoin into Ethereum’s dev tools

Blockchain firm ConsenSys has made official a collaboration with open-source software laboratory Protocol Labs to integrate Filecoin’s marketplace for data storage with ConsenSys’ Ethereum product stack. According to the announcement, Filecoin’s miners, developers and users of the network will be able to access ConsenSys’ development tools such as Infura, MetaMask and others to integrate with Ethereum’s decentralized finance ecosystem. Last Thursday, at block 148,888, the Filecoin network launched its public mainnet, featuring a capacity of more than 600 petabytes of data, as well as 600 active data miners and 230…

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Ethereum’s on-chain activity surges and bullish sentiment spikes

The latest findings by Santiment, published in Cointelegraph Consulting’s biweekly newsletter, indicates that discussions around Ethereum have switched from highly bearish to predominantly bullish. Historically, this hasn’t meant good news for the token’s price. Ethereum’s on-chain activity, measured by unique daily addresses, has rebounded from its nose dive at the end of summer. The latest surge has taken Ethereum to a 3-week high of 420,610 addresses per day — marking a 25.2% growth compared to the day prior. Another noticeable trend is Ethereum’s 365-day dormant circulation, which tracks the renewed…

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Ethereum’s fees higher than Bitcoin’s for a record two straight months

Ethereum (ETH) transaction fees have exceeded those on the Bitcoin (BTC) network for two months straight. Crypto market data aggregator Messari tweeted about the streak on October 8, noting it is the longest period that Ethereum’s transaction fee revenue has exceeded Bitcoin’s in the crypto asset’s history. Ethereum fees have been higher than Bitcoin fees for 2 months straight. It’s longest streak ever pic.twitter.com/2KgnNBcrrT — Messari (@MessariCrypto) October 8, 2020 Ethereum fees skyrocketed into new all-time highs during August as the decentralized finance (DeFi) bubble began to shift into high-gear.…

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Ethereum’s Gas Spike Forces Coinbase Pro to Pass Network Fees to Customers

While Ethereum network fees have jumped to new highs this year, the popular cryptocurrency exchange, Coinbase Pro, announced that the trading platform would be passing network fees onto customers. The move followed the exchange listing Uniswap’s native token UNI, an airdrop that saw miners collect close to $1 million in gas in less than an hour. The decentralized finance (defi) ecosystem has seen significant demand in 2020, but it has also contributed to the Ethereum (ETH) network’s rising fees. Ethereum miners are collecting a massive amount of revenue from gas…

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ERC-20 token’s market cap overtakes Ethereum’s

The latest findings by Santiment, published in Cointelegraph Consulting’s biweekly newsletter, suggest that Ethereum is temporarily being ‘professionalized’.  Since the September 2nd market crash, the combined market capitalization of all ERC-20 assets has overtaken Ethereum’s own market cap, with the differential between the two continuing to grow in favor of ERC-20 assets. This market cap ‘flippening’ points to the fact that the price of Ethereum has corrected more strongly than the ERC-20 ecosystem and has struggled to bounce back in the immediate aftermath.  Perhaps unsurprisingly, it was the DeFi-related coins in…

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How to Leverage Uniswap – Ethereum’s Noncustodial Defi Trading Platform

In 2020 decentralized exchanges (dex) have grown quite mature compared to just a few years ago. One specific dex gathering a lot of steam this year in the defi world is Uniswap, a trading platform that held $1.3 billion locked in value and dominated most defi applications by over 18% Friday evening. The following review is a detailed explainer of what Uniswap is and how to leverage the dex using an Ethereum wallet like Metamask. **Price quotes, TVL, and defi dominance percentages from this Uniswap review were recorded on Friday…

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Ethereum’s daily transactions forecast flippining

The latest findings by Santiment, published in Cointelegraph Consulting’s biweekly newsletter, suggest that Ether is poised for gains. The amount of Ethereum transacted on the blockchain daily has grown from an average of 3.85 million in July to 4.75 million in August, recording a 5-month high of 7.74 million on Tuesday. The chasm between Bitcoin and Ethereum’s transaction volume has been growing for several months now. Ethereum’s daily on-chain transaction volume was 60% that of Bitcoin’s, after hitting an all-time low of 0.6 on August 30th. This marked the lowest…

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IRS Tax Warnings on Ethereum’s Fifth Anniversary

As important as Ethereum has become, even eclipsing Bitcoin (BTC) in some circles, it is no wonder that its fifth birthday has prompted comments — some prophetic, others nostalgic. Few, however, will mark the occasion by thinking about taxes, but that could be shortsighted. The last five years have seen near-tectonic shifts in how investors, exchanges and government agencies see cryptocurrencies. The Internal Revenue Service, or IRS, is at the top of the heap when it comes to tax enforcement. This is plainly true in the United States, and it…

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