Ethereum’s daily active address count is flashing a major warning sign for ETHBTC $9093 (-0.1%) • ETH $226 (-0.3%) • XRP $0.17 (+0.0%)
Ethereum’s price action over the past several weeks has proven to be highly disappointing for investors, as it has been underperforming both Bitcoin and many of its other peers despite it seeing unprecedented fundamental strength. Many analysts are now debating whether or not the decentralized finance sector – which has been driving the cryptocurrency’s fundamental strength – will ultimately allow ETH to accrue any value. One indicator of the cryptocurrency’s underlying strength is now beginning to flash a major warning sign, potentially signaling that ETH has formed a long-term top. If confirmed, a peak in the number of Ethereum daily active addresses could cause the token’s price to plunge significantly in the coming weeks.
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There’s been a lot of money made in Ethereum’s decentralized finance (DeFi) sector over recent weeks. Thanks to our premium sponsors⭐️ Cred - Cred is a global financial services platform serving customers in 183 countries. ⭐️ OKCoin - OKCoin is one of the world’s first and largest regulated crypto exchanges, with millions of users in more than 100 countries around the world. ⭐️ Paradox Group - Paradox is the Official Advertising Partners of CryptoSlate and specialises in Marketing and Blockchain Advertising. Cardano parent signs a custody agreement with Coinbase to allow ADA staking
IOHK, the company behind the Cardano blockchain, has announced that it had signed an agreement with Coinbase Custody. Singapore’s Huobi launches Chainlink (LINK) node, aims to bolster the DeFi market
Huobi, one of the world’s largest crypto exchanges by market cap, is now running a Chainlink (LINK) node on its Wallet service, the firms announced in a release Thursday. Charles Hoskinson: Cardano’s code is the “highest quality” seen in the crypto space It has been an exciting week for Cardano, with the ongoing rollout of the Shelly public mainnet electrifying the ADA community and sending the token’s price rocketing higher. DeFi-favorite Ethereum wallet MetaMask gets Version 8 update, new features
Popular non-custodial wallet MetaMask announced it will roll out a Version 8 update for the wallet in the coming weeks, promising increased privacy, a better UI, and other user-centric features. VC argues DeFi isn’t a bubble as Chainlink, Compound and more go parabolic If you’ve followed the crypto market over the past months, you’ve likely noticed what many others have: a majority of the best-performing altcoins are based on decentralized finance (DeFi). Fund strategists: The internet’s craziest traders will bring volatility back to Bitcoin Bitcoin, and the cryptocurrency market, has largely traded in a tight price band since an initial rise in early-2020. Fund managers have taken note and are actively considering BTC as a hedge against global markets. Crypto market dataFor more pertinent market data, please see: Connect with usDisclaimer: None of the content in this newsletter is meant to be financial advice. Please do your own due diligence before taking any action related to content within this article.
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