Bitcoin
BTC$20 080.91

4.60%

Ethereum
ETH$1 352.25

3.96%

Tether
USDT$1.000199

0.01%

Binance Coin
BNB$295.18

3.35%

USD Coin
USDC$1.000129

0.02%

XRP
XRP$0.479325

6.89%

Ether fights for the trend


31 Aug 2022

#Ethereum

Bitcoin has stopped falling but has still not managed to gain strength to rise, remaining near $20K. Ethereum remains more interesting for buyers, increasing 1.6% overnight to above $1600. Top altcoins showed mixed dynamics: from a decline of 1.3% (Dogecoin) to a rise of 2.2% (Cardano). Total crypto market capitalisation, according to CoinMarketCap, rose 0.2% overnight to $997bn. The Cryptocurrency Fear & Greed Index fell 4 points to 23 by Wednesday and moved into "extreme fear" status.

The upcoming move to proof-of-stake creates a speculative component to Ethereum's dynamics. While in the short term, after September 6, there could be a "sell-through," causing pressure on the price, in the longer term, such a transition will strengthen interest in using Ethereum for transactions, making them cheaper. This promises more interest in the coin, allowing it to remain "better than the market".

On the data analysis side, ETHUSD is trying to get back above the 50-day average, which is an informal indicator of the medium-term trend. A consolidation above $1620, like in July, could be a prolonged rally with possible targets at $2000-2200 in the nearest future. The opposite is also true. A reversal down from this level will weaken bulls, as it did in February and April, triggering a new decline towards $1000.

Bitcoin has stopped falling but has still not managed to gain strength to rise, remaining near $20K

News background

Some 5,000 BTCs, which have been in "hibernation" for the past 7-9 years, are on the move, said Look Into Bitcoin founder Philip Swift, citing data from the Whale Shadows indicator. Historically, such spikes in activity have preceded significant price declines.

Ethereum remains more interesting for buyers, increasing 1.6% overnight to above $1600

A link has been established between the 10,000 BTC, which on August 29 went in motion for the first time since 2013, and the bankrupt cryptocurrency exchange Mt.Gox, a Telegram channel reported.

Meanwhile, the US Federal Bureau of Investigation has advised investors to be wary of investing in decentralised finance (DeFi) projects as they are too vulnerable to hacking.

Iranian authorities have approved a comprehensive law regulating cryptocurrency transactions. In particular, imports from abroad with payment in digital assets are allowed.


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 87.6% 20 $20 080.91 4.60% -0.63% $384 928 648 027 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 63.6% 82 $1 352.25 3.96% -2.63% $165 850 909 431 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 92.4% 1 $1.000199 0.01% 0.02% $67 962 965 910 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 90.8% 15 $295.18 3.35% 4.10% $47 622 811 891 BNB 7 days price change
5 USD Coin (USDC) USDC USD Coin predictions 94.4% 1 $1.000129 0.02% 0.01% $47 041 969 452 USDC 7 days price change
6 XRP (XRP) XRP XRP predictions 61.6% 86 $0.479325 6.89% 0.21% $23 918 656 745 XRP 7 days price change
7 Binance USD (BUSD) BUSD Binance USD predictions 92.4% 1 $1.000158 -0.04% 0.02% $21 045 557 649 BUSD 7 days price change
8 Cardano (ADA) ADA Cardano predictions 74.8% 46 $0.432877 2.56% -5.26% $14 827 377 490 ADA 7 days price change
9 Solana (SOL) SOL Solana predictions 87.6% 22 $34.02 4.22% -2.80% $12 079 424 303 SOL 7 days price change
10 Lido stETH (STETH) STETH Lido stETH predictions 92.4% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
11 Dogecoin (DOGE) DOGE Dogecoin predictions 88.8% 14 $0.060856 1.66% -2.64% $8 073 831 543 DOGE 7 days price change
12 Polygon (MATIC) MATIC Polygon predictions 67.2% 61 $0.835389 7.92% 6.54% $7 296 551 325 MATIC 7 days price change
13 Polkadot (DOT) DOT Polkadot predictions 65.2% 68 $6.47 3.14% -3.80% $7 264 526 660 DOT 7 days price change
14 Dai (DAI) DAI Dai predictions 91.6% 1 $0.999987 0.06% 0.03% $6 786 797 042 DAI 7 days price change
15 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 93.6% 5 $0.061484 0.80% 1.33% $6 251 497 842 WTRX 7 days price change

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