550 days ago
Bitcoin, which had been trading in a tight range has broken out on the upside from its descending channel. The positive move comes as the dollar is quickly losing steam and treasury yields have come down from their recent highs. Bitcoin is now facing technical resistance at around USD20'600.
592 days ago
The Ethereum blockchain just underwent the so-called "Merge", switching from proof of work to proof of stake. The merge is meant to make the blockchain more environmentally friendly and energy efficient. Following the upgrade, Ethereum GPU miners will no longer be getting rewards for mining. The token is up 3.8% this morning.
605 days ago
Just weeks away from the historic event expected to happen between the 10th and 20th of September, Ethereum surged more than 10% this week. The 'Merge' will see the second largest cryptocurrency by market cap transition from a proof-of-work (PoW) system to a proof-of-stake (PoS) mechanism. However, doubts remain as this shift of technology has been delayed for years and is complex with different steps to take into account in the transition of the blockchain structure. So far, developers are confident about the 'merge' and investors are mostly 'doing nothing' until the merge takes place.
648 days ago
Ethereum has rallied more than 60% from its lows amid good news for the Merge and recovering market sentiment. It broke past its resistance and is now targeting USD1'700 as its next resistance to break-through.
653 days ago
Ethereum climbed 22% since its July 12th lows, with 13% of gains today alone soaring past USD1'200, on hopes for the upcoming Merge. A recent test was successful and the Merge event can be expected for August although the exact timeline remains unclear. Meanwhile, the Nasdaq is soaring 0.8% in pre-market thanks to better-than-expected retail sales and after Fed official, Bostic made comments implying 75bps rate hike is in play for July, as opposed to 1%.
