The amount of ETH securing Ethereum 2.0 had just surpassed 3 million, or $5.4 billion, according to data from Glassnode.

View metric:https://t.co/SzbMPqvhlb pic.twitter.com/dCpmxpn5DZ

— glassnode alerts (@glassnodealerts) February 13, 2021

ETH 2.0 is the next generation of the Ethereum blockchain that should, if all goes to plan, make the whole thing cheaper, quicker and more environmentally friendly. 

One of the largest changes involves moving away from a proof-of-work consensus mechanism, which relies on power-hungry miners to process transactions.

Ethereum will instead move to a proof-of-stake system, which lets the richest players on the network validate transactions.

Staking money in ETH 2.0 means to lock up funds to secure the network. It offers returns of up to 20% a year. 

Specifically, you can stake funds in ETH 2.0’s “beacon chain”, which launched in December 2020. That beacon chain doesn’t do a whole lot at present, and it’s just the first step in ETH 2.0’s very long roadmap that could take years to implement. 

And the network’s slow, too, and fit to burst; while Ethereum’s current iteration handles about 14 transactions per second, the next generation of the Ethereum blockchain could support upward of 100,000, claims co-founder Vitalik Buterin. 

— vitalik.eth (@VitalikButerin) June 30, 2020

The question remains: by the time work on ETH 2.0 is all wrapped up, will the crypto industry have moved on to other blockchains? 

Ethereum rallied again on Friday, pushing up to a new high on some exchanges around $1,880, going into the weekend near the highs north of $1,850. This is a bullish formation, pattern, and trend on all timeframes as ETH grinds higher by the day towards $2,000, which is within our grasp any day (or weekend?) now. 

(February 12, 2021  7:30 PM EST)

ETH Continues higher as it presses towards the $2000 mark for the first time, which could happen even over the weekend. If that’s the case, then we could see ETH surge through the level and continue higher before the Monday and Tuesday market traders return to their desks, although Monday is a federal holiday in the US so there may be like trading that day as well. ETH may also find resistance around the $2000 level which is to be expected, which could cause some volatility and maybe short-term resistance. If that’s the case, then any resulting dips are likely to be good value opportunities. The daily churning of bullish news and developments in the crypto space continues as ETH continues to evolve In the background amongst all the news flow noise. Today the ETH 2.0 deposit contract tops $5.5 billion staked in Ether. ETH and WETH are now settling more value than Bitcoin, including over $8 billion in Bitcoin itself. It’s also reported that Grayscale purchased over 50,000 ETH in the last 24 hours as institutional and individual investor demand continues to explode, adding to the supply shortage of Ether that has been known for a few weeks now. There continues to be a lot of concern around ETH network fees due to record usage of transactions, however, it is widely known that the ETH 2.0 network upgrade is specifically designed to address this and enable a generational scalability solution making the Internet of money transactions exponentially cheaper than they are today, and we are expecting the next phase of ETH 2.0 to roll out by end of year 2021.

As you can see in the ETH/BTC chart below, ETH has held onto the trendline, hugging it tightly but slowly ascending along with it on top of it. This is a bullish sign as ETH continues to be not only putting in a bottoming formation but that also means a higher low. As long as ETH holds onto this level and bounces off any attempts lower, such as the 50 Day EMA, then ETH should continue higher back above the 0.04 ETH/BTC level and then continue to 0.05 and above. 

HODL, buy the dips and earn ETH while we enjoy the ride. There's not much to do now other than sit back and let your investments grow. Otherwise, DCA on a weekly/biweekly basis, whatever you can afford if you so desire. 

$1,500 - $1,400 (likely), then $1,200 (less likely), then $1,000 (concrete floor).

Immediate-term $2,000, then $2,500, then $3,000.

Register now at Publish0x to claim your $$$. It only takes 15 seconds and it's free.

Ethereum rallied a bit on Thursday, reaching back above the $1,800 level to challenge yesterday's ATH before pulling back, closing the daily candle just below $1,800 around $1,775. This is a bullish candle as ETH continues to press higher in its quest for $2,000, which is well within reach and just a matter of time now. 

(February 11, 2021  8:30 PM EST)

Ethereum rallied a bit on Thursday, nearly reaching up to yesterday's ATH again before closing just below $1,800. ETH continues its slow grind higher towards $2,000 as it plays second fiddle to BTC which continues to exert its market cap dominance in all of crypto, corresponding to an ETH/BTC selloff as shown below. ETH should continue higher, as it's in a well-defined uptrend, trading within an ascending channel pointing to higher prices, and a bullish breakout out of the channel could send ETH well above $2,000 and possibly even closer to $3,000 before finding any meaningful resistance. The RSI is barely overbought, as it is almost constantly is during crypto bull markets, leading us to believe that there is much room to rally yet. When BTC breaks higher, which seems like it could be any day now, ETH could very well follow suit and tag along for slightly less intense gains as ETH appears to be traded and valued almost separate from other altcoins as it is 'the' altcoin and the second-largest cap in all of crypto, so much so in fact that in periods of hyper bullishness near the end of crypto cycles, ETH has historically made impressive rallies against satoshis, inspiring thoughts of a possible "flippening." I don't forsee that being realistic anytime soon, if ever, however that's not to say ETH can't be the clear-cut #2 crypto, as the two assets are actually quite different and serve totally different functions. 

As you can see in the ETH/BTC chart below, ETH is struggling down below the 0.04 area, trading sideways and hovering just above the ascending trendline crossing through 0.037, which ETH/BTC touched today. This recent pullback is not the end of the world, as the uptrend is still well in tact. However, if ETH/BTC breaks below the ascending trendline drawn in the chart below, then the uptrend is in jeopardy and a break below the 50 Day EMA would all but invalidate it. ETH/BTC needs to find support, as Bitcoin appears to be growing stronger and ready to burst higher as it approaches $50K. 

HODL, buy the dips and earn ETH while we enjoy the ride. There's not much to do now other than sit back and let your investments grow. Otherwise, DCA on a weekly/biweekly basis, whatever you can afford if you so desire. Historical charts and models all point to 2021 being substantially better for crypto and ETH in particular, although ETH has outperformed BTC in 2020 so really it's no surprise there. ETH returned over 400% in 2020, and if the models suggest ETH (and crypto in general) to outperform in 2021, then we can possibly expect a greater than 400% return in 2021, pointing to a high of somewhere between $3,000 - $4,000. It's worth noting that YTD, ETH is currently up ~150% from its Jan. 1 price of ~$750.

Support: This has been all but confirmed; look for support around the $1,500 resistance region, which has been tested a couple of times since we broke higher and appears to offer buying pressure.

Resistance: All eyes are now on $2,000, then $2,500. The former would be a clean resistance level, though crypto is rarely clean so we could see a stronger momentum push up to $2,500 or possibly even $3,000.

Register now at Publish0x to claim your $$$. It only takes 15 seconds and it's free.

The key information for Bitcoin (BTC), Ethereum (ETH) and XRP:

Last Sunday, the bulls were able to overcome the resistance at $48,000 and once again tried to test the target level of $50,000. As a result, the Bitcoin price renewed its absolute maximum around the $49,715 mark but, by the end of the week, it could not reach the psychological level of $50,000.

Last weekend, the bulls were unable to continue the run above the $1,900 mark. On Saturday, the Ethereum (ETH) price rolled back to the area of ​​average prices, and all of Sunday, it tried to gain a foothold above the two-hour EMA55.

Over the weekend, the XRP price could not hold above the $0.60 level. By the beginning of this week, it fell back below the 4H EMA55.

The year has been positive for the second-largest cryptocurrency, Ethereum, considering the latest news of the cryptocurrency’s impressive gains.

According to data from beaconcha, over 3 million ETH worth over $5.4 Billion, has been staked on the Ethereum 2.0 blockchain. It further reported that there are more than 84,000 active validators at the moment while about 8800 are on queue.

The stake pool is currently earning 9.06% in ETH per annum. Also, yesterday, the price of ETH broke above the $1800 price mark. As a result of the protocol’s increased transaction, the cryptocurrency also recently displaced Bitcoin concerning the adjusted transaction value as reported by CoinMetrics.

On February 4, the adjusted transfer value of Ethereum rose to a new high of about $19 billion, which was attributed to large amount of transfers made by smart contracts. Based on estimates, the total transaction value of Ethereum would greatly surpass that of Bitcoin if all ETH-based assets such as Ether, wrapped BTC etc. are added together.

Another achievement for the cryptocurrency is the outstanding profits made by miners this past week. The total earnings for mining reached above $55 million in a day, making it the new all-time high, while miners also recorded a new high when they earned about $3.74 million in an hour.

Last week, the cryptocurrency also hit an ATH hash rate of about 350TH/s. All these have been tied to the increased gas fee on the protocol, which is now averaging at $25/transaction.

Two days ago, following the rally of Bitcoin after Elon Musk’s investment in the crypto, Ethereum also rose to break above $1800 to hit the $1830 mark. This equates to about 3.5% price gain for Ethereum in just a day and about 20% for weekly gain.

About two hours ago, Ethereum was trading near $1810 and is preparing for another rally to make a new ATH. There are still predictions that the price of ETH might rally up to $20,000 before the year runs out, considering the stream of positive metrics recorded by the coin recently.

According to data from Fxempire, Ethereum might hit the resistance level at $1900 in case of an extended rally before it experiences any significant pullback.

More than 48 hours ago, the CME Group officially launched the Ethereum futures contract. The trading took off with an incredible start with the volume of Ethereum contracts traded also topped $30 Million on the first day of the market. 

There were concerns that the price of Eth would take a dip due to the launch. However, the cryptocurrency has only risen since then and once again established itself as one of the world’s largest cryptocurrency.

At ETH Denver’s virtual conference, non-fungible tokens have been in the limelight with seven mainstage presentations devoted to utility, adoption, and novel use cases — a sign of growing acceptance for what was once considered a niche or lesser application of blockchain tech.

However, gaming and collectibles aren't the only arena where NFTs are beginning to play a role. In a talk titled “Bridging the Gap Between DeFi and NFTs,” Alex Salnikov of Rarible noted that creative smart contract engineering is leading to a boom in DeFi use cases for non-fungible tokens.

Fractional ownership, wrapping ERC-20s, using NFTs as collateral, and NFT funds are all pushing NFTs into the similarly hot emerging financial vertical — and Salnikov thinks that trend will only continue as newer projects come to market.

Likewise, John Crain’s “NFTs: Trends in 2021” presentation focused on not just the growth of familiar NFT verticals, but also on how NFTs can help enable traditional meatspace agreements like mortgages, and not just in the metaverse (which is also making promising strides). 

These technical advancements are having an impact on the number of addresses getting involved in NFTs, as well as in total volume for popular NFT marketplaces like Opensea. According to Dune Analytics, traffic on Opensea’s platform is beginning to curve parabolic:

Some commentators believe the space could be doing more to attract a larger following, however. Zach Burks of Mintable said in his presentation, “Paving the Way for Adoption of NFTs to the Mainstream,” that the number of NFT users is dwarfed by the number of participants in the wider Ethereum ecosystem. 

“Let’s say there’s 300,000 [NFT] users, there’s $300 million volume, and there’s 10 million Ethereum users. If you take 10 million to 300,000 ratio, that’s abysmal,” Burks said. “We should be having at least half of all Ethereum users using NFTs, and why don’t we have that? Because their gateway for interaction with NFTs just isn’t there yet.”

He called for more marketplaces tailored to enabling creators to stand out, as well as greater simplicity so “your grandma” could efficiently browse blockchain assets.

Still, even if there’s work to be done, the showing at ETH Denver demonstrates that a use case once derided as secondary is now becoming more embedded in mainstream development. What’s more, Crain said in a Q&A after his panel that while some people will never ‘get’ NFTs, non-fungible tokens will inevitably attract its own batch of acolytes.

Ethereum has been hitting milestone after milestone this year, and the latest is the amount of it staked on the Beacon Chain deposit contract.

There is now just over 3 million ETH staked on the ETH 2.0 blockchain, worth a staggering $5.4 billion at current prices. According to the beaconcha.in analytics platform, there are currently over 84,000 active validators with over 8,800 pending.

93,073 with 3,000,034 ETH deposited. (5.4B @ 1801 per eth). This is 2.62% of ETH supply

Active Validators: 84,273 Queue: 8,800 (~9 days and 18 hours) Annual Reward (Stake Pool): 9.06% Daily new validators (7d avg): ~365

— The # of ETH2 Validators are: (@eth2validators) February 10, 2021

That staked ETH is earning 9% per year in ETH, and the asset has just hit another all-time price high, so staking for early birds has been extremely profitable so far.

The record level of staked ETH is not the only milestone the network has made as it has now flipped Bitcoin in terms of adjusted on-chain value transfer according to CoinMetrics.

The on-chain metrics provider reported that Ethereum’s adjusted transfer value reached over $19 billion on February 4th, its highest level ever, adding that this was due to a huge surge in the amount transferred by smart contracts.

If all ETH-based assets such as ERC-20 stablecoins, wrapped Bitcoin and Ether, and Dai are included, then Ethereum is way ahead of Bitcoin in terms of value transfer, cementing itself as the world’s largest trustless money settlement network.

Other strong metrics include an all-time high hash rate of around 350 TH/s, which was hit this week, and a record in miner profits, which comes as no surprise considering those astronomical gas prices.

Ethereum mining revenue hit an all-time high late last week of $55 million in one day alone, while miners raked in $3.74 million in a single hour, making another record.

Naturally, that comes at a cost to users as gas prices are still at their highest ever level, with the average being around $25 per transaction.

Ethereum prices have followed suit with their own all-time high, hitting $1,830. The move has added 3.5% to ETH prices over the past 24 hours marking a weekly gain of almost 20%.

At the time of press, ETH was trading around $1,810 and looking to notch up another ATH during Wednesday’s trading session in the U.S. Some economists are still predicting a massive surge to $20k before the end of the year.

There was some fear about ETH prices taking a dive after the launch of CME’s futures contracts on Monday, but the opposite has occurred.

The world’s second-largest cryptocurrency Ethereum (ETH) has hit a new all-time high of $1868 surging an additional 5.5% today. The overall cryptocurrency market cap shoots to $1.5 trillion and altcoins continue to show dominating behavior.

At press time, ETH is trading at $1851 with a market cap of $212 billion. The institutional buying of Ethereum (ETH) has kickstarted on a big scale. Every since reopening the Grayscale Ethereum Trust (ETHE) 12 days back, digital asset manager Grayscale has added 195,000 ETH coins worth $353 million. The net assets under management of the Grayscale Ethereum Trust (ETHE) have soared to above $5.5 billion.

Also, the CME Ether Futures have seen staggering response since going live earlier on Monday, February 8. On-chain data provider Skew Analytics notes that the average daily volume for Ether Futures, in the first four-sessions, has been above $30 million. At the same time, the open interest in the CME Ether Futures has moved past $43 million.

— skew (@skewdotcom) February 12, 2021

Oracle service provider Chainlink (LINK) has registered a solid move in the market. The LINK cryptocurrency has shot up 14% today hitting its new all-time high of $32. With this move, Chainlink’s (LINK) price has nearly tripled year-to-date registered a solid 200% gain.

The LINK cryptocurrency has seen a solid demand in the exploding crypto DeFi market. As a result, investor optimism has also spiked simultaneously. On-chain data provider Santiment states that the recent LINK price comes with “increased level of token circulation, dormant tokens moving, and a sustained high level of unique address activity”.

— Santiment (@santimentfeed) February 12, 2021

As stated the Dormant USD invested in LINK has been on the move. Analysts say that Chainlink is emerging as a new competitor to Ethereum and the surge in the network activity is a testament to it.

The post Ethereum (ETH) and Chainlink (LINK) Hit New All-time Highs While Dormant Tokens Moving Fast appeared first on Coingape.

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If you are a crypto miner you should be mining Ethereum (ETH) at the moment with any suitable video card that has more than 4GB video memory, or if you even have a 4GB ones that can still mine it in “Zombie Mode” due to the high profitability. There is a way to increase your profit even further when mining ETH and that is to dual-mine Ethereum and Zilliqa (ZIL). Thanks to Zilliqa’s consensus mechanism, the ecological footprint of mining has considerably been reduced in a way that only 1 minute out of every 1.5 hours is needed to mine ZIL, allowing you to dual-mine other crypto coins such as Ethereum (ETH) or Ethereum Classic (ETC) the rest of the time. Then the ZIL coins you have mine can be staked with about 6%-12% APY, so an extra profit if you plan on holding long term your Zilliqa coins.

Zilliqa is a high-throughput public blockchain platform designed to scale to thousands of transactions per second. It is built to deliver performance, scalability, and security. ZIL is the token that powers the Zilliqa blockchain, a token that can be used for smart contract execution, to reward miners, to cover transaction fees, and more. The company (and platform) has its roots in academic research, it was born at the National University of Singapore and was the brainchild of a team of academics, entrepreneurs, and engineers. With the launch of Zilliqa’s mainnet in January 2019, it became the first public blockchain platform in the world to successfully utilize sharding as a scaling solution. The current price of a single Zilliqa (ZIL) coin is a little over $0.09 USD or roughly 0.000001968 BTC or 0.00005237 ETH according to CoinMarketCap. Currently Zilliqa sits at number 56 in term of coin market capitalization and can soon take its place in the TOP 50 crypto coins based on their market cap.

The Ezil.me mining pool mines Ethereum (ETH) or Ethereum Classic (ETC) and Zilliqa (ZIL) simultaneously. Most of the time the pool is mining ETH or ETC, but just before a ZIL mining round starts, which is every few hours, the pool will automatically switch to ZIL mining for a minute, then it instantly switches back to mining ETH or ETC. From the individual miner’s perspective, no action is required as everything happens automatically in the background, and the reward is credited and paid the same way for both dual-mined crypto coins (ETH+ZIL or ETC+ZIL). The pool does not require a registration, you just need an ETH and ZIL wallet addresses as they are your user IDs for login. An easy way to get ZIL wallet address is to use a supported exchange such as Binance, though we do not generally recommend direct mining of crypto coins to an exchange.

The Ezil.me pool has a minimum payout for Ethereum set at 0.05 ETH and a minimum of 30 ZIL (you can increase them over these values) with daily payouts if the minimums are met. Mining rewards are credited to your pool balance every 30 minutes, so do not worry if you do not see any mined ZIL coins immediately after the mining round finishes. The pool has 1% default commission for miners though if you use the promo code 58f6, you will get an extra 0.10% cashback for two weeks, essentially lowering the initial mining fee of the pool from 1% to 0.9% for some time. You can dual-mine ETH + ZIL on AMD and Nvidia GPUS using a number of miners such as PhoenixMiner, the T-Rex or LolMiner and even should be able to use the More Epochs Мod v1.4 for Claymore Ethereum (ETH) Miner v15.

Example for Dual Mining ETH + ZIL on Ezil.me Pool: PhoenixMiner.exe -pool stratum1+tcp://eu.ezil.me:5555 -proto 2 -wal ETH_WALLET.ZIL_WALLET -worker WORKER -stales 0 -log 0

Example for Dual Mining ETC + ZIL on Ezil.me Pool: PhoenixMiner.exe -pool stratum1+tcp://eu.ezil.me:4444 -proto 2 -wal ETC_WALLET.ZIL_WALLET -worker WORKER -coin etc -stales 0 -log 0

* Make sure to replace the two WALLET lines with your ETH/ETC and ZIL wallets and also set WORKER to a unique name for each mining rig you point to the pool.

– To Get Started Dual-mining ETH and ZIL on the Ezil.me Mining Pool…

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Less than four hours ago, the native coin of Vitalik Buterin’s brainchild, ETH, surged to a new all-time high of $1,871 after reaching the previous ATH just four days earlier.

Data from the CoinMarketCap says ETH has reached a new all-time high, inching closer to the $1,900 price mark.

It has taken the second biggest crypto coin only four days to print a new ATH, the previous one was when the currency surged above the $1,800 level.

Earlier this week, February 8, CME launched ETH-based futures for financial institutions. 77 contracts were traded on the very first day.

The activity of stakers on the ETH 2.0 deposit contract (ETH 2.0 Zero Phase otherwise known as Beacon Chain) has also driven the price upward.

On February 10, the amount of Ethers staked on exceeded whopping 3,000,000 coins, which represents $ 5,400,060,000 in fiat (at the current exchange rate). These coins have been transferred and locked in the chain by 84,273 validators.

The daily new amount of validators totals approximately 365 (on the weekly basis).

The recent Bitcoin all-time high of $48,745 has also contributed to Ethereum’s rise above $1,871.

In a recent tweet, Grayscale Investments hedge fund shared that it had increased its crypto holdings to $37.8 billion. That’s a billion USD in crypto added in a single day. The previous figure was $36.8 billion.

The ETH holding of Grayscale has risen from $5,524.5 million to $5,623.5 million.

Ether is stagnating against Bitcoin despite BTC's strong rally after BNY Mellon embraces digital assets.

The price of Ether (ETH), the native cryptocurrency of Ethereum, has been stagnating against Bitcoin in recent days after a strong few weeks against BTC.

In the past few weeks, ETH and BTC have shown some inverse correlation as ETH rallied strongly when BTC consolidated, and vice versa.

ETH/BTC 15-minute price chart (Binance). Source: TradingView.com

In the last several hours, Bitcoin has seen a decent rally after BNY Mellon said it would begin offering Bitcoin services later this year.

“BNY Mellon is proud to be the first global bank to announce plans to provide an integrated service for digital assets. Growing client demand for digital assets, maturity of advanced solutions, and improving regulatory clarity present a tremendous opportunity for us to extend our current service offerings to this emerging field.”

The announcement almost immediately uplifted the momentum of Bitcoin, causing it to rally from around $45,500 to around $47,400. It eventually reached an all-time high hours after, rising to above $48,500.

During the same period, the ETH/BTC pair pulled back despite their respective USD remaining in relative lockstep. But in recent weeks, ETH typically rallied harder than Bitcoin during uptrends, alongside both large-cap altcoins and DeFi tokens.

BTC/USD vs. ETH/USD (orange) 1-hour candle chart (Bitstamp). Source: Tradingview

But, in the last 24 hours as Bitcoin gained significant short-term momentum, ETH has been lagging behind BTC.

Willy Woo, a popular on-chain analyst, said that historically, Bitcoin is a better “multi-cycle HODL” while ETH is a “better mid-macro” swing trade.

This trend is shown during short-term cycles as well, as Bitcoin tends to increase steadily most of the time while ETH either accelerates against BTC or stagnates. He said:

“Risk Adjusted Returns over a 4 year hold period. -> Winner: Tied. See how short ETH's backtrace is? That shows just how new and untested it is, only 1 macro cycle of data so far. Gold also shown (6000 yrs of backtrace, a supply inflation of 100% per 40 yrs, not digital). Personal opinion from this data: - BTC is a better multi-cycle HODL. - ETH is a better mid-macro swing trade.”

In the near term, traders and analysts generally remain optimistic around the short-term cycle of ETH.

ETH, BTC year-to-date performance. Source: Digital Assets Data

For instance, there has been no sell-the-news reaction to the CME ETH futures listing, which is a positive factor that may boost the chances of ETH’s rally continuing.

Additionally, on the first day of trading, the CME ETH futures market traded over $30 million in volume, which is relatively high for the first day of trading. Thus, if the institutional demand for ETH rises similar to Bitcoin in late 2020, ETH could see a broader rally in the weeks to come.

A trader known as “Pentoshi” said that altcoins and ETH should have much stronger momentum, suggesting that they are currently stagnating. He said:

“Alt market has me feeling a little uncertain atm $ETH and $LINK should have way more momentum, DeFi perp showing indecision Total potentially finding some resistance here at 500B Something to watch, and plan for. NOT FEAR. Any correction is opportunity. View it that way.”

For now, $1,800 remains the key level to break for ETH to regain momentum against both Bitcoin and the U.S. dollar in the foreseeable future.

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Ethereum 2.0, the network upgrade of ETH, has crossed 3 million ETH under its deposit contract as the Ethereum community extended their support for ETH 2.0. The total value of ETH locked under the network upgrade jumped above $5.4 billion after the recent jump in the price of the world’s second-largest cryptocurrency.

Ethereum 2.0 started its journey in December 2020 with the launch of Beacon Chain. ETH 2.0 deposit contract crossed 1 million ETH within the first week of its launch. The Ethereum network has started its journey to shift from the current proof-of-work network to a more efficient and improved proof-of-stake network.

The ETH price is up nearly 150% since the start of 2021. The world’s second-largest digital asset registered an all-time high of $1,870 on 13 February as the total market cap of Ethereum jumped above $210 billion. As of writing, the cryptocurrency is trading near $1,750 with a total market cap of $200 billion.

FBS Celebrates its 12th Anniversary and Fulfils Your DreamGo to article >>

The CME Group launched Ethereum Futures Contracts last week and the Group reported trading of 388 ETH contracts with a total trading volume of $33.6 million on its first day. Additionally, ETH’s on-chain network activity has increased significantly in the last few months as now the network is settling more value than BTC.

Finance Magnates earlier reported a significant jump in Ethereum-related weekly crypto inflows. ETH accounted for nearly 80% of the total $245 million crypto inflows during the first week of February 2021. Institutional demand for the world’s second-largest crypto-asset jumped substantially since the launch of Ethereum 2.0. Now, Grayscale has 3.13 million ETH under management with a total value of $5.67 billion. The CEO of Grayscale Michael Sonneshein reported growing interest in Ethereum-related investment products.

Ethereum 2.0 received strong support from the crypto community as staking participants are hopeful for an improved version of the network in the form of ETH 2.0. The current transaction fee of ETH is a big issue for the users, the network upgrade aims to address the issue of large transaction fees and the number of transactions per second.

We will be conducting a node migration for ETH and ERC20 on February 12th, 2021 at 2:00pm UTC. Our system will be running throughout this update.

The migration will result in changes to all ETH and ERC 20 deposit addresses.

With immediate effect, users cannot generate new deposit addresses for ETH or ERC20 until the migration is complete on February 12th, 2021. After the migration is complete, all former deposit addresses will automatically be changed and new wallet addresses will be available. The new wallet addresses must be used for further deposits.

The following digital assets will be affected: ETH, USDT, USDC, ZRX, GNT, REP, OMG, SALT, SAT, CVC, LOOM

New wallet addresses will be available after the migration and must be used for further deposits.

Funds sent to former wallet addresses will be lost. In the case that wallet addresses are stored externally, it is advised that users update the legacy address with the newly generated address. It is also advised that users check their deposit addresses on the platform or through the app before sending ETH and other ERC20 crypto tokens.

Follow us on Twitter for updates and an announcement when the migration is complete.

Do not hesitate to reach out to customer support if you have any questions support247@coinfield.com.

Ethereum traded to a new all-time high near $1,870 before correcting lower against the US Dollar. ETH price is holding gains and it is likely to accelerate higher towards $2,000.

This past week, bitcoin and ethereum saw a steady increase above $1,700 and $45,000 respectively against the US Dollar. ETH traded to a new all-time high near $1,870 before it started a short-term downside correction.

The price traded below the $1,800 and $1,780 support levels. However, the bulls were active above the $1,750 level. A low is formed near $1,761 and the price is currently consolidating well above the 100 simple moving average (4-hours).

It is testing the $1,820 resistance level. It is close to the 50% Fib retracement level of the recent correction from the $1,870 high to $1,761 low. There is also a major bullish trend line forming with support near $1,800 on the 4-hours chart of ETH/USD.

On the upside, the first key resistance is near the $1,840 level. The 61.8% Fib retracement level of the recent correction from the $1,870 high to $1,761 low might also act as a resistance.

The next major resistance on the upside is near the $1,870 high. A clear break above the $1,850 and $1,870 levels will most likely open the doors for a steady increase. The next major target for the bulls in the near term could be the $2,000 handle.

If Ethereum struggles to gain pace above the $1,850 level, it could correct lower. The first major support on the downside is near the trend line support and $1,800.

A downside break below the trend line support may possibly call for an extended decline below the $1,761 low. The next major support is near the $1,640 level or the 100 simple moving average (4-hours).

Technical Indicators

4 hours MACD – The MACD for ETH/USD is slowly losing momentum in the bearish zone.

4 hours RSI – The RSI for ETH/USD is still above the 50 level.

Major Support Level – $1,800

Major Resistance Level – $1,870

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The newly launched chain is known as Binance Smart Chain (BSC). Following its launch, the platform has received commendations from top players in the blockchain and cryptocurrency space. It has also entered into strategic partnerships with top industry players like Injective Protocol, Gravity Network, etc. Binance Smart Chain (BSC) has taken its innovation a notch higher and has listed support for Ethereum’s ETH 2.0 staking. Now, BETH holders can now earn ETH 2.0 staking rewards on BSC.

ETH 2.0 is the much-anticipated upgrade to the Ethereum network. The upgrade has been touted as the solution to all ETH scalability issues. Slated to go live in three stages, the upgrade will including an important shift from a PoW to a PoS consensus mechanism.

To earn ETH 2.0 staking rewards, users need to first stake Ethereum (ETH). This process is quite easy and comes with maximum return. However, staked tokens can not be redeemed any time soon. Although no specific timeline has been published, it may take over two years before tokens can be redeemed. Binance will tokenize staked ETH as BETH, and it will be staked 1:1 to ETH tokens. While staked tokens can not yet be redeemed, stakers can, however, swap their BETH to ETH at any time on BSC.

Depending on the amount of BETH staked, users will receive on-chain rewards in their Spot account from time to time.

One of the most important pools to use is the BakerySwap Reward Pools. Interestingly, the pools offer dual rewards to ETH 2.0 stakers. Simply put, stakers will earn rewards both in BAKE and BETH on the platform. Bakeryswap liquidity mining pools include BETH/ETH, BETH/BNB, and BETH/BUSD. The pools currently offer APY as high as 30% for all its pools, providing interested liquidity miners with compelling options to choose from.

BETH/ETH seems to hold a great deal of attraction for liquidity providers. According to reports, this is mainly because of its hedge against impermanent loss as well as high yields, reaching as high as 32% APY. These features will help stakers maintain their ETH exposure while still earning staking rewards. It is, however, important to note that the BETH/ETH liquidity mining pool does not have a vault yet.

Since there’s no vault for the BETH/ETH liquidity pools yet, KCrypto highlights a three-step technique to help compound ETH 2.0 staking rewards on Binance Smart Chain (BSC).

The three easy steps include:

At the time of publication, ETH was up by 1.1%. The token was also trading at $1,834.87, with a market cap of $210,478,623,084 and a 24-hour trading volume of $34,424,344,147.

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Find out more about the much-anticipated ETH 2.0 upgrade on the Altcoin Buzz YouTube channel.