|Day's Range||18.16 - 18.40|
|52 Week Range||12.60 - 45.51|
|Volume (24hr) All Currencies||59.88M|
Juthica Chou says there is still strong trading interest, despite the SEC’s crackdown on the exchange’s staking-as-a-service platform.
The shares have not traded at a premium to bitcoin since March 2021
Chandler Guo, a big player in Ethereum mining, told CoinDesk TV that his proof-of-work fork’s debut has earned just a 5 out of 10 rating.
Now-redundant, Ethereum miners are flocking to other proof-of-work (PoW) tokens after the network switched to the proof-of-stake (PoS) consensus mechanism.
The price stability that prevailed after Ethereum's historic shift to a more energy-efficient "proof-of-stake" network has suddenly evaporated. After a plunge in the past couple hours, ether (ETH) was down 9.1%, its worst day since late August.
Earlier on Thursday, Ethereum switched to PoS, doing away with the need for miners.
Futures tracking the two tokens racked up nearly $80 million in liquidations since this morning.
“Based on the fundamentals, it's unlikely Ethereum Classic has any long-term viability,” Messari wrote in a report.
Ethereum’s long-awaited transition from a proof-of-work to proof-of-stake-based consensus system is just over the horizon, and the anticipation has created a bullish narrative for the smart-contract platform. On July 27, a longtime Ethereum investor and miner named Chandler Guo tweeted “ETH PoW coming soon”: a declaration, in brief, that Guo would lead his fellow miners to continue supporting the current proof-of-work based Ethereum chain after the system change known as the Merge. There are some rational arguments for a continued ETH PoW chain, and it would certainly be a fascinating experiment if it goes forward.
The latest price moves in crypto markets in context for July 29, 2022.
Ethereum classic's rally is consistent with its record of rallying around major Ethereum upgrades, one observer said.
Interest in .eth domain names has escalated since amazon.eth received a purchase bid of $1m this month.
The U.S. economy seems headed for recession, if it's not already there. But it's difficult to predict how BTC and other cryptos will perform in the weeks ahead; cryptos climb higher in Thursday trading.
The bear market has forced multiple organizations to cut their workforces, hurting morale and weakening the companies; BTC, ETH soar.
The mining pool is throwing its weight behind the Ethereum-offshoot alternative that will continue to mine using proof-of-work.
Bitcoin and major altcoins continued their late weekend rally; NFTs are an asset class where value has yet to be clearly defined.
Final deadlines for approval by the SEC for the two applications are fast approaching.
The largest digital asset by market cap could dip below $20,000 in the near future and is unlikely to rebound until macroeconomic conditions improve.