ETH aims at $500, the final testnet of ETH 2.0 phase 0 is launched today, and 90% of ETH is in a state of profitability
Editor's Note: This article comes fromBabbitt Information (ID: bitcoin8btc), by Kyle, published with permission.
Editor's Note: This article comes from
Babbitt Information (ID: bitcoin8btc)
Babbitt Information (ID: bitcoin8btc)
, by Kyle, published with permission.
At the end of last week, ETH had a flash crash after hitting a peak of $415, and once fell below $360, and the entire cryptocurrency futures market liquidated as much as $1 billion. The encryption market has gradually rebounded since yesterday. As of press time, according to the QKL123 market, ETH has returned to $400, and BTC has returned to $11,400.
Additionally, it’s worth noting that Ethereum futures trading volume hit a single-day all-time high of nearly $14 billion yesterday, according to Skew Analytics. This represents an increase of more than 45% from its previous high of $9.6 billion set on July 27. The milestone comes as the price of ETH surges, with ETH up more than 160% since the start of 2020. As the DeFi indicators continue to grow, the new bull market of ETH is further confirmed, and the price may be further pushed up.
Arthur Hayes, CEO and co-founder of cryptocurrency derivatives exchange BitMEX, predicted that Ethereum's next target is $500, a level not seen since summer 2018.
According to Arthur Hayes, he was surprised by Ethereum’s surge to $400 and thinks it will continue to rise.
secondary title
DeFi + Ethereum 2.0 test network Medalla is about to go live, pushing ETH to break through $400 for the first time in two years
Ethereum is at the forefront of the DeFi (decentralized finance) craze, as most DeFi tokens that have experienced astronomical growth are ERC-20 tokens. In addition, there are reasons for Ethereum itself-the Ethereum 2.0 Medalla test network is expected to be launched on August 4 (Tuesday).
ETH has been growing in pair with BTC since the end of July. Regarding ETH's market performance, Hayes couldn't hide his shock, and he predicted that the next resistance level would be $500.
The BitMEX CEO made the remarks before the price of Ethereum hit $410. ETH's sudden crash late Sunday surprised many short-term traders. However, after a temporary correction, ETH is back on track and is once again trading at $400.
Even if ETH continues to rise, a near-term short-term correction may still occur. Therefore, traders are advised to implement risk management techniques.
secondary title
ETH 2.0 Switch Will Push Prices Further
