Tag Archives: ethereum

Why is Ethereum’s price increasing?

By AlexB20 (via Publish0x)

Ethereum, Ripple’s XRP, Litecoin, and chainlink are the world’s largest cryptocurrencies after Bitcoin, and they suddenly soared this week. The total market capitalization of Ethereum, XRP, Litecoin and Chainlink is approximately US$100 billion, which have risen by 20% to 50% respectively this week, even surpassing the gains of Bitcoin. Although Bitcoin has a growing reputation as a digital gold before 2020, and Ethereum, XRP, Litecoin, and chain links have been boosted, other cryptocurrency trends have also pushed them higher.

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Ethereum has grown by 20% in the last week along with other major cryptocurrencies (including Ripple’s… [+]) Flick through Getty Images This week, the price of Ethereum exceeded $500 for the first time since June 2018. Although Ethereum is still far below the all-time high of about $1,500 set in January 2018, the price of Ethereum has risen nearly four times in March 2020. The collapse of the coronavirus has swept the global market. Paolo Ardoino, CTO of Bitfinex, based in the British Virgin Islands, said via email: “Ethereum has hit $500 for the first time since June 2018. This is an important milestone.”

“Ethereum is on the rise and is about to transition to proof-of-stake. [Its strong price performance highlights optimism and seems to be raising the cryptocurrency field. Although Bitcoin is the unquestioned king of cryptocurrencies, the thriving Ethereum community There are many possibilities for being alive.” The price of Ethereum has soared above US$500 per Ether this week, soaring by 50% in just a few days One such part of the Ethereum community is chainlink, an Ethereum-based cryptocurrency token that powers a decentralized network that is designed to connect smart contracts to external data sources.

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In the past year, due to growing interest in decentralized finance (DeFi), the use of encryption technology to recreate traditional financial tools such as loans and insurance, the price of chain-link chains has soared by an astonishing 500%. Chainlink co-founder Sergey Nazarov (Sergey Nazarov) said via email: “Accelerating Bitcoin’s growth is the growing demand for revenue and the rise of DeFi, the fastest growing sector in the blockchain industry. “Nazarov expects that, driven by the new DeFi cryptocurrency project, “in this market cycle”, Bitcoin will exceed $100,000 per Bitcoin. “Now, this is the first time in the history of Bitcoin, and it coincides with the historical increase in the inflation rate; not only can someone buy Bitcoin as a hedge against inflation, but they can also get higher than expected The annual interest rate or yield comes from traditional finance.”

Reddit Forms First Blockchain Partnership With Ethereum Foundation

By Abhimanyu Krishnan (via PublishOx)

On Jan. 28, Reddit formally announced a partnership with the Ethereum Foundation, with the goal of bringing Reddit closer to being decentralized. 

  • The collaboration, which is Reddit’s first-ever blockchain partnership, will see the two parties work closely to create scaling solutions, following the initial groundwork of using Ethereum for Reddit’s Community Points program
  • The first challenge that will be tackled is “bringing Ethereum to Reddit-scale production” i.e. the creation of an open-source scaling solution that can be used to support large-scale applications
  • The effort will be led by Reddit’s crypto team, which is currently on the hunt for more backend engineers
  • Reddit, a major hub of cryptocurrency discussions, has already worked with the Ethereum Foundation to trial solutions
  • Two tokens, MOONS, and BRICKS are being tested on the r/cryptocurrency and r/FortniteBR subreddits, with MOONS, in particular, seeing heavy usage among Redditors, already being traded on the market
  • The Reddit crypto team also has more developments lined up, which will be announced in the months to come

Is Reddit Using Ethereum Blockchain for a New Points System?

By Abhimanyu Krishnan (via PublishOx)

On April 8, a Reddit user, MagoCrypto, has unearthed what appears to be a new crypto-related feature on the platform’s Android app. The Redditor posted a video that showed a “wallet” function with an Ethereum address linked to it, as suggested by the address. 

Those that do have this feature will notice a ‘wallet’ tab. This wallet section includes a recovery phrase, introduction and FAQ section. The latter itself includes several interesting resources on the subject, including tipping, memberships and an ‘On the blockchain’ section.

Redditors, who are no strangers to cryptocurrencies (in fact, it is already possible to tip them with BAT, a feature that the Brave team implemented last year), seem quite happy with the development, though some have stated that this may be a marketing gimmick that in reality requires no blockchain. Others have countered by saying there is a lot of possibility with the implementation of smart contracts – including being able to swap points for ERC-20 tokens, which could introduce a giant swathe of Redditors to cryptocurrencies.

This seems to be something that’s very much in development, so users will have to wait for the official confirmation to get all the details. While it’s too early to form a conclusion either way, if Reddit were to implement such a feature, it could lead to a sizable win for adoption, as the “front page of the internet” has many hundred millions of active users.

The Top Four Tips for Cryptocurrency Investing

By Austin Reihl (via Publish Ox)

Trading or investing in any financial market can be a profitable but also dangerous endeavor. It requires knowledge, skills, and experience no matter the market traders are employing.

Of course, gaining experience often comes with taking (sometimes) significant losses. However, it is an advantageous position to be in where one can learn from the experience of a trader with a long history in the field to avoid making these same mistakes themselves.

1. Diversification Is Key

The topic of diversification – otherwise known as the not putting all of your eggs in one basket strategy is a tried-and-tested method to minimize risk when it comes down to any investment strategy method.

Putting all of your funds into one (or very few) assets might be devastating in case the price takes a critical hit. In an event like this, the entire portfolio will suffer, and many traders find themselves in a position where they are unable to recover from such a blow.

Diversification means spreading the risk between numerous assets. It can be dangerous if you neglect to diversify. Even if you believe in Bitcoin (BTC) and crypto as a whole, it is perceived to be a generally unnecessary risk to put all of your wealth only in one asset class.

Diversify your finances accordingly and make sure not to spread yourself too thin, either.

2. DYOR = Do Your Own Research

DYOR is short for do your own research.

The cryptocurrency field is considerably young. While the stock market has existed for over a century, digital assets emerged with BTC’s creation in 2009 and are yet to see mass adoption, despite the 2017 initial coin offering (ICO) boom.

As such, many experienced professionals and casual speculators in the field will experience significant growth in the upcoming years, and investors should do comprehensive research to find the most profitable projects.

These are projects run by companies likely to become the next Amazon or Google 20 years from now – investors have to be more patient now than ever and selective to make sure they are getting involved in the projects with staying power.

3. Buy The Dips (Or Buy When Everyone Else Is Selling)

There is a famous saying in the investment field that advises people to buy low and sell high. To buy an asset low (a cryptocurrency, in this context) means to purchase it while the price is depreciating and not the other way around, which is typically what the majority does.

Yet, it is not as simple as it sounds. Human nature and emotions are susceptible to panic – this urges investors to sell their assets when prices are plunging before they buy back in due to FOMO (fear of missing out) when the prices are once again skyrocketing.

Accumulating Bitcoin, Ethereum (ETH), or any other asset class that you as an investor believe in while the prices are dropping is vital for long-term success.

Finally, after a bubble pops in the cryptocurrency markets (like in 2018, for example, or the Coronavirus crash last March) and prices are severely below the trending average – I accumulate as many of my favorite coins and tokens as I can for staking and cold storage.

Tuck it away, and forget about the price.

4. Risk Management – Almost No One Gets Rich Quickly

Risk management is the most important thing. Many traders get caught up, and most of them lose money because they do not think about the risk – they only think about ways to get rich quickly.

Thus, to accomplish better risk management, investors should also employ a famous narrative – to invest using funds they can afford to lose. Consequently, if the price plunges, it would not disrupt your investment plans or trading strategy and cause you to panic sell while taking a massive loss.

And finally, you might ask yourself:

Which cryptocurrencies have a greater chance of breaking their prior all-time-highs or setting the greatest new one?