Crypto News Ethereum

Ethereum Profitability Dumps To 2-Year Low As Price Corrects Below $2,000

Ethereum has been on a downtrend along with the rest of the crypto market. This has seen the value of the cryptocurrency plunged below $2,000 and efforts to recover above this major resistance level have been futile. Naturally, the decline in the value of the digital asset has affected its profitability. What has resulted from this is Ethereum wallets that are in profit at current prices have now declined to a two-year low. Ethereum Profitability Declines Ethereum remains the second-largest cryptocurrency by market cap but when it comes to profitability, it tells another story. Data shows that the percentage of ETH wallets that are in profit has declined significantly in the last couple of months. Along with the price, most of the profitability decline has happened in the last six months. Related Reading | Market Sentiment Dangerously Negative As Crypto Fear Index Drops To Two-Year Low IntoTheBlock shows that only 56% of all Ethereum investors are currently in profit. This puts a total of 43% in the loss while only 1% of all investors are sitting in the neutral territory, meaning that they purchased their tokens at current prices.  Data from Glassnode supports this metric although it puts the number of addresses in profit at a slightly higher percentage. The data aggregation tool shows that 58% of all ETH investors are still in profit. However, what is notable about this figure is that the last time that Ethereum profitability was this low was almost two years ago, back in July 2020. ETH price trading at $1,781 | Source: ETHUSD on It is no coincidence that the majority of those in profit has been investors that have been in the market for more than a year. The long-term outlook for the smart contract network has always favored those who followed it compared to those in the short term.  Small Wallets Ramp UP Even through the downtrend that has rocked the digital asset, support has still not waned. Smaller investors have continued to throw their hats in the ring with Ethereum. This is evidenced by the growing number of wallets holding at least 0.01 ETH reaching a new all-time high. It is now sitting at a new record of 22,874,566 addresses. 📈 #Ethereum $ETH Number of Addresses Holding 0.01+ Coins just reached an ATH of 22,874,566 View metric: — glassnode alerts (@glassnodealerts) May 27, 2022 This metric has hit multiple all-time highs in just the first two quarters of 2022. It shows renewed interest from smaller investors but unless this interest becomes evident in the largest ETH investors, there may not be any significant change in value. Related Reading | Bitcoin Dominance Remains High As Market Sell-Offs Settle As for the price of the digital asset, Ethereum’s price is down more than 60% from its all-time high in November. It is currently trading at $1,770 with a market cap of $213.9 billion. It remains the largest DeFi platform with over $67 billion in TVL. Featured image from Coingape, chart from Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet… 

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Ray Liotta’s Death Elicits Reactions From Crypto Community: Funny Guy, Good Fella

Ray Liotta, the passionate actor best known for his depiction of hustler-turned-mobster Henry Hill in Martin Scorsese’s 1990 “GoodFellas”, has passed away. The Emmy winner was 67 years old. According to sources, Liotta died unexpectedly in his sleep in his hotel room in the Dominican Republic, where he was filming “Dangerous Waters,” on Thursday morning. […]

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Cryptocurrency Mining Chip Producer Nvidia Reports Significant Profits After Decline

The American Chip developing company Nvidia attests to its dip in shares due to the CMP (Cryptocurrency Mining Process) sales decline. The company stated that its 52% decrease for its Q1 of “OAM and other” investments was because of the decrease in CMP sales. Nvidia stated this, as explained in a filing on Wednesday. In 2021, Nvidia recorded $24 million in returns from its CMP sources; this also recorded a discouraging decrease of 77% year-over-year. Last year January, the corporation introduced the CMP product to discourage cryptocurrency miners from storing up existing mining devices like Ethereum’s famous GeForce RTX 3080 Ti. Related Reading | Perp Traders Remain Quiet As Bitcoin Struggles To Hold $30,000 While the chipmaker didn’t explain the exact sales amount its CMP sales provided, it did tag the value “nominal” and over $155 million in loss from the previous year. Nvidia Shares Tumble At The End Of Q1 The company experienced strong quarterly growth from 2021 last quarter to 2022 first quarter, increasing by 8% in returns. Thus, making up to $8.98 billion. Its shares also increased by 3% to $1.36 a share. In addition, the chipmaker stated that it’d continue its buyback program reaching 2023 end, and it is worth $15 billion. Nvidia And The Q2 Nvidia has now been experiencing a steady decrease in interest in the CMP mining chips during this Q2. The reasons why this is so might probably be because of Ethereum’s porting to the Proof-of-staking mechanism. The current bear market, or the recently deployed products from the industry leader—Intel Corporation. We don’t know, but we do know that the tech giant isn’t experiencing a good time at its current turnover. Q2 isn’t starting as interesting as Q1, and pundits project a 4% loss to $8 billion in turnover. During Thursday after-hours trading, Nvidia (NVDA) shares decreased by 7% to $157.8. Also, the NVDA stocks have experienced an almost 50% decrease in the year-over-year report, reflecting a poor outlook for tech stocks. Related Reading | Bitcoin Bearish Signal: Whale Ratio Continues To Stay At High Value During last year’s Q2, Nvidia encountered a 33% dip from expected returns, reaching $266 million, then $106 million in Q3, and $24 million in Q4. That value has still fallen. The chipmaker revised its expectations for the second quarter (Q2), summing it up to $8.1 billion because of the Russia-Ukraine war, and Lockdown in China. Nvidia CMP And Cryptocurrency Mining Nvidia’s Santa Clara-situated CMPs can be effective for mining Bitcoin, Ether, and other digital assets that use the Proof of Work consensus mechanism. In addition, the token’s graphics card, built for gaming, can be effective for mining cryptocurrency except restricted. One notable fact is that CMPs are very scarce in supply. Even on secondary markets, it’s rare to find them. Therefore making the chances of sales slimmer and smaller. Featured image from Pixabay, chart from

Crypto News Ethereum

Blue Chip NFTs 101 – What’s The Secret Behind CloneX? Built For The Metaverse

The secret behind CloneX is Takashi Murakami and the RTFKT team, that’s the short answer. The NFT collection is the result of the once-secret collaboration between the legendary Japanese artist and the experts in creating virtual sneakers. Steven Vasilev, Chris Le, and Benoit Pagotto founded RTFKT, which reads “Artifact,” in 2020. The CloneX public sale took place in the last days of November 2021. These people work fast. The goal of the Ethereum-based CloneX collection is quite simple, to serve as avatars in the metaverse. These NFTs aren’t merely profile pictures. Through the upcoming Clone vault, the CloneX holders will have access to the avatar’s 3D files. The idea is that these figures will work in any metaverse. Plus, RTFKT has expressed metaverse ambitions of its own.  In any case, RTFKT Studios co-founder Benoit Pagotto told Forbes: “We envision a new kind of relationship forming between owners and 3D creators who will create bespoke content for the avatars, replicating what we’ve seen with Fortnite 3D models ripped by blender creators, creating content for Twitch streamers and YouTubers. It’s a full ecosystem, being built live, and the avatars are just the tip of the iceberg.” Very nice, but let’s focus on the avatars for now. About CloneX And Takashi Murakami The project’s official site describes them as, “CloneX is our most ambitious project yet, the beginning of a whole ecosystem for our community, quality-focused, high-end avatars, ready for the metaverse.” Japanese contemporary artist Takashi Murakami designed all of the CloneX traits, from their eyes and their mouths to their clothes and their helmets. Murakami lives in the line between pop and high art. He has worked with Pharrell and Kanye West, with brands like Louis Vuitton and Vogue, and also with Supreme, Vans, and Billionaire Boys Club. There are 20K CloneXs total, and those are divided among eight different DNA types: 50% are Human. 30% are Robots. 8.75% are Angels. 8.75% are Demons. 1.25% are Reptiles. 0.6% are Undead. 0.5% are Murakamis. 0.15% are Aliens. ETH price chart on Kraken | Source: ETH/USD on About The Controversial Initial Sale The CloneX public sale was supposed to take place on November 29th. The demand was there, they sold 13K out of 20K before RTFKT had to pull the plug for the day. Their website was under attack. According to themselves, “Due to our website still being attacked and unusable, we’re pausing the minting till when we’ll have all fixed and upgraded.”  The last 7K CloneX were minted on the 30th. Some people maintain something suspicious went on. At the moment, the rarity of each CloneX was still a mystery, so all the NFTs were theoretically worth the same. The public sale was supposed to be a Dutch auction starting at 3 ETH. In the second round, each of the 7K sold for 2 ETH flat.  Considering that at the time of writing the floor price for a CloneX is 12.9 ETH, participating in any of the two rounds would’ve been extremely profitable. Curious Facts About The CloneX Collection At first, the code name for the project was: Akira. All CloneX holders received a Space Pod as an airdrop. Check this Twitter account for “an ongoing thread of all the items being made for RTFKT Space Pods & Loot Pods by the CloneX community.” Secondary market royalty for this NFT collection is a steep 5%.  Holders own the IP of their avatar and can commercialize it for up to $1M. The avatar’s 3D files will be available in the following formats: Unreal Engine, Daz3D, .blend, .obj, .fbx, .MA, and glb. RTFKT will host “Forging Events,” where CloneX holders can forge real-life physical items based on your NFT. For the virtual world, holders will be able to clothe their avatars through Clonex Wearables. Both RTFKT and independent creators will offer different garments. At the moment you can only buy the avatars on the secondary market. They’re available on OpenSea. In the real world, four white gold CloneX chains exist. They were created by Crown Collection in association with Murakami and RTFKT. And that’s everything you need to know about CloneX at the moment. There are many more things to learn about RTFKT, though. Do your homework on that. And, while you’re at it, read “Blue Chip NFTs 101’s” other guides: Moonbirds and Proof Collective in Ethereum, and DeGods in Solana. More to come. Featured Image: Murakami from the official site | Charts by TradingView

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Vitalik: How to create algo stablecoins that don’t turn into ponzis or collapse


“What we need is not stablecoin boosterism or stablecoin doomerism, but rather a return to principles-based thinking,” Vitalik Buterin emphasized. Ethereum co-founder Vitalik Buterin has shared two thought experiments on how to evaluate whether an algorithmic (algo) stablecoin is sustainable.Buterin’s comments were sparked by the multi-billion dollar losses caused by the collapse of the Terra… More

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Crypto News Ethereum

TA: Ethereum Dives 10%, Why ETH Might Test $1,500

Ethereum extended decline below the $1,820 support against the US Dollar. ETH tested $1,730 and remains at a risk of more downsides in the near term. Ethereum gained bearish momentum and declined below $1,820. The price is now trading below $1,800 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $1,910 on the hourly chart of ETH/USD (data feed via Kraken). The pair is struggling and remains at a risk of more losses below $1,700. Ethereum Price Gains Bearish Momentum Ethereum remained below the $2,000 resistance zone and 100 hourly simple moving average. As a result, there was a sharp bearish reaction below the $1,920 support. The bears were able to push the price below $1,820 and $1,800. The price declined over 10% and traded below $1,750. A low is formed near $1,727 and the price is now consolidating losses. On the upside, an initial resistance is near the $1,770 level. It is near the 23.6% Fib retracement level of the recent decline from the $1,911 swing high to $1,727 low. The next major resistance is near the $1,820 level. It is close to the 50% Fib retracement level of the recent decline from the $1,911 swing high to $1,727 low. The main resistance is now forming near the $1,920 level. There is also a key bearish trend line forming with resistance near $1,910 on the hourly chart of ETH/USD. A close above the $1,920 level could open the doors for a steady increase. Source: ETHUSD on In the stated case, ether price could rise towards the $2,000 resistance zone. Any more gains may perhaps send it towards the key $2,085 resistance zone. More Losses in ETH? If ethereum fails to recover above the $1,820 resistance, it could continue to move down. An initial support on the downside is near the $1,730 zone. The next major support is near the $1,700 level. A downside break below the $1,700 level might call for another sharp decline. In the stated case, the price could dive towards the $1,650 level. Any more losses may perhaps call for a move to $1,500. Technical Indicators Hourly MACD – The MACD for ETH/USD is now gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 40 level. Major Support Level – $1,720 Major Resistance Level – $1,820

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XRP Whales Boost Accumulation Appetite, Register 2-Month Peak Holding Supply

The total supply of XRP circulating in the market is now at 48.3 billion from the total XRP supply of 100 billion. XRP whales currently hold from 1 million to 10 million XRPs and are on a massive hoarding spree with an uptick in supply stretching out to a two-month high. These active XRP whales currently chalked up over 6.12% of the total XRP. Despite the collapse of the crypto market, Ripple whales have resurfaced to be increasingly daring and active.   According to Santiment, “XRP Network whales holding between 1M and 10M $XRP have collectively been accumulating, and now hold their highest percentage of the asset’s supply in 2 months.” This is the most active tier of non-exchange holders who are currently keeping 6.12% of all $XRP. Suggested Reading | Lido (LDO) Sheds 58% Of Its All-Time High TVL At $11 Billion XRP Trades At $0.40; Now Sixth Largest Crypto XRP, Ripple’s cryptocurrency, has adjusted more than 50% in the last two months, with the crypto market going on a downward spiral. The crypto is currently the sixth largest digital asset by market cap and is trading at $0.40. Brad Garlinghouse, Ripple CEO, attended the World Economic Forum held in Davos, Switzerland, and expressed the possibility of launching an initial public offering (IPO). The plan’s all set once they have put the lid on the legal dispute with the U.S. Securities and Exchange Commission (SEC). Ripple is very optimistic about the legal battle they have with the SEC, which has been going on for 155 months. The commission has been dragging this lawsuit for the longest time. Ripple has been accused of selling securities that aren’t registered and XRP tokens, but they are firm with their stance in the courts. Industry experts are optimistic that everything will turn in Ripple’s favor. XRP total market cap at $19.11 billion on the weekend chart | Source: Ripple Soldiers On Despite the headaches of the regulatory proceedings, Ripple soldiers on in the international market. XRP has dipped by nearly 90% from its all-time high values but forges on. Quarter 1 of 2022 revealed XRP cross-border payments of $8 billion, dubbed eight times larger when compared to the liquidity settlement in Q1 of 2021. By looking at the trading action performed since the beginning of 2022, it’s apparent that XRP whales have been amassing or hoarding XRPs by purchasing at a discounted price. Suggested Reading | Ripple (XRP) Plunges To $0.43 With Bears In Full Swing The SEC has informed the court of their intent to file for the opposition in response to the amicus request by the XRP holders, wherein they requested a time extension to June 7 in light of the incoming holidays and other deadlines. The application filed by John Deaton, attorney of the XRP holders and founder of CryptoLaw, was dismissed in favor of the commission. Meanwhile, more than six crypto holders were given the amici status, which allows them the privilege to assist the court. Featured image from The Daily Hodl, chart from

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KuCoin Exchange Report Shows Growing Crypto Adoption In The US

The Into The Cryptoverse US Report by KuCoin — a global cryptocurrency exchange — revealed striking statistics regarding the positive dynamics of blockchain and digital currency adoption in the United States. Findings show that adults and younger generation users are leading the integration of cryptocurrencies into daily financial operations, the report indicates. The survey provides important data related to US user investment sentiment, which has added up to 5% of new adults to the industry compared to the fourth quarter of 2021. Over 8 million new users have entered decentralized space, constituting a total of 50 million users across the US, or as much as 27% of adults aged 18-60. The figures indicate that such a number of users have traded cryptocurrencies in the past six months or are intending to do so. Demographic shifts have also been identified, as up to 35% of investors are women as of the first quarter of 2022, a 5% increase over a quarter. During the same period, as much as 47% of female investors were surveyed, which is still 17% lower than male users. Overall interest in cryptocurrencies is also on the rise in the United States. A total of 59% of those surveyed stated that they are willing to increase their investments, largely due to the narrowing generation gap, which has seen a 7% increase in 42–50-year-old users. The growing yields of digital currencies are largely at play in such increases, as the share of users earning in excess of $100,000 a year has grown by as much as 7%. The growing degree of crypto education is a contributing factor, as evidenced by the survey, which revealed that up to 58% of crypto investors were familiar with digital assets by the first quarter of 2021, with up to 71% of young users claiming to receive information from social media. Investors in the United States are turning to digital currencies as a means of improving their quality of life and earning potential, as evidenced by 37% of respondents. Millennials, Generations Z and X are among the leaders of such opinions. As many as 48% of US crypto investors consider cryptocurrencies to be “the future of finance,” which is the top reason to invest across all age groups. The growing number of users entering decentralized space is being determined by diminishing incomes and increased popularization of digital currencies through social media and online educational efforts. The KuCoin Into The Cryptoverse US Report is an important source of statistical data on blockchain penetration, which is in line with earlier releases related to Germany, Africa and Brazil.