Category: Analysis
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Traders warn about Ethereum and DeFi tokens as momentum dwindles against Bitcoin
In the past week, the alternative cryptocurrency (altcoin) market has further slumped against Bitcoin. Since achieving a peak in early September, decentralized finance (DeFi) tokens alongside Ethereum have shown a lackluster performance. Since October 8, the price of Bitcoin has increased from $10,600 to $12,311 by 16%. In the same period, Ethereum rose by 12%…
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Top Ethereum whales are HODLing at an “impressive rate,” data finds
Top Ethereum whales are increasingly moving their funds off exchanges, on-chain data show. It demonstrates the confidence of high-net-worth investors in the medium-term trend of ETH. In the past two months, tokens on exchanges dropped by 20.5%, as exchange outflows substantially increased. Since investors typically deposit cryptocurrencies to exchanges to sell, the trend indicates a…
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Here’s how Uniswap’s token launch has driven SushiSwap to irrelevancy
During the course of the recent decentralized finance bull run, SushiSwap was one of the favored platforms amongst investors and farmers, as users could buy Sushi tokens and farm massive yields while also trading on a Uniswap-forked DEX. The platform took a major hit towards the end of the DeFi hype cycle, however, and Sushi…
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New paradigm: Ethereum fees regularly surpass Bitcoin, and it’s good for ETH
Fees on the Ethereum blockchain network are consistently surpassing Bitcoin and industry executives say it could spark a “new paradigm.” Cole Kennelly, who heads growth at Staked, institution-focused decentralized finance (DeFi) firm, said: “ETH fees are consistently materially higher than $BTC fees. A new paradigm.” $ETH fees are consistently materially higher than $BTC fees. A…