It’s Make or Break for Ethereum Bulls as ETH Nears Critical Resistance

Ethereum is flashing some signs of strength today as it inches higher while caught within a short-term consolidation phase. This consolidation trend came about after the cryptocurrency rallied to highs of $380 before facing some heightened selling pressure that caused its price to retrace back down towards $360. It is now trading squarely between these two levels, with buyers and sellers largely reaching an impasse as they both attempt to gain control over the cryptocurrency’s near-term outlook. This sideways trading bout has come about, in part, due to that seen…

US Treasury blacklisted a non-existent ETH address in connection with alleged Russian election interference

Earlier today, the U.S. Department of the Treasury updated its Specially Designated Nationals List, adding several individuals and a number of cryptocurrency addresses. One of the individuals added was Artem Mikhaylovich Lifshits — a Russian national, accused of interfering in the U.S. elections.  In addition to disclosing his personal information, the site lists a number of cryptocurrency addresses that he allegedly controls. One of the Ethereum addresses, found at 0xa7e5d5a720f06526557c513402f2e6b5fa20b00, does not seem to exist, however. Source: U.S. Department of the Treasury. There was likely a mixup somewhere in the chain of command and…

ETH miner revenue reaching a new all-time-high may be bad news for low volume yield farmers

On September 2, the revenue of Ethereum (ETH) miners reached an all-time high of 51,541 ETH. While this may be good for the miners, it could turn popular DeFi projects into a mousetrap. Ethereum miner revenue, percent from fees and total gas used. Source: Glassnode. When denominated in USD, these numbers are still below the record set on January 10, 2018 — when miners earned $32 million versus $23 million on September 2. The price of ETH at the time was approximately three times the current rate. However, what is…

Vitalik Buterin reveals why a 51% attack on ETH 2.0 ‘would not be fatal’

Ethereum co-founder Vitalik Buterin has dismissed concerns that a 51% attack on Ethereum 2.0 would be ‘fatal’.  The scenario emerged as a result of the burgeoning popularity of Yearn.finance’s yETH vault which has already amassed more than 137,000 ETH on its first day. Arcane Assets’ Chief Intelligence Officer Eric Wall suggested this mean the yETH vault admins will probably end up controlling enough Ether to theoretically launch an attack on Ethereum 2.0: ITT: We come up with fun ways yETH vault strategists can take advantage of the fact that yETH…

What flash crash? ETH options still favor $500 Ethereum price

Today’s Ether (ETH) 10% dump caused its annualized futures basis to adjust after flirting with extremely optimistic territory. The basis indicator compares futures contracts price to the current level at regular spot exchanges. Healthy markets usually display a 5% to 15% annualized basis, in a situation known as contango. On the other hand, a negative basis (futures premium) usually occurs during heavily bearish markets. ETH 1-month futures annualized basis. Source: Skew The above chart shows an annualized basis on Ether futures climbing above 20% yesterday, which is usually unsustainable. The…