Ethereum Update: Crypto Analyst Says $ETH Headed to $10K, ETH ETFs, NFT Craze

Last Friday (February 26), another crypto analyst came forward to predict that the Ether price (currently around $1500) is going to $10,000. And today there was more good news for ETH HODLers: we might soon have two Ether ETFs in North America.

Ethereum Price Predictions

Data from TradingView tells us that on crypto exchange Bitstamp Ethereum price reached today’s intraday high of $1604.99 at 00:25 UTC (which was around the same time that the Bitcoin price reached its intraday high of $50,250).

According to data by CryptoCompare, as of 19:00 UTC on March 2, Ethereum is trading around $1499.23, down 1.7% in the past 24-hour period, but up 103.39% in the year-to-date period.

Although a 100%+ price appreciation in just over two months is pretty impressive, Ethereum reached its all-time high of $2040.62 less than two weeks ago (on February 20). But even $2000 is nothing compared to some of the price targets that we have seen recently from prominent crypto analysts and influencers. Here, we will look at a few of the more well-known predictions that have been made in 2021.

First, on January 7, former hedge fund manager Raoul Pal, who is the CEO of finance and business video channel Real Vision, said that Metcalfe’s Law suggests that “ETH might well go to $20,000 this cycle.”

Second, on January 22, macroeconomist and crypto analyst Alex Saunders, who is Founder and CEO of Nugget’s News, raised his ETH price target to $10,000, and he gave plenty of reasons for such bullishness:

Third, on February 26, popular New Zealand-based crypto analyst Lark Davis came up with the same price target as Saunders:

And finally, Ethereum consultant Ryan Berckmans explained yesterday (March 1) why he expects the ETH price to reach $20,000:

He then went on to say:

  • EIP-1559 redirects ~35% of miner revenue to ETH holders by burning a portion of fees. Note that this fee redirection is secure because ethereum has temporarily overpaid for security. Last year, we paid miners $300M+ more than if EIP-1559 had been live.
  • Switching to proof of stake redirects ~100% of miner revenue to ETH holders. That’s because proof of stake validators are so cheap that they’re effectively free compared to proof of work miners. Yesterday, proof of stake would have saved ~$30M for ETH holders.
  • EIP-1559 likely launches in July with the “London” hard fork. Next year, ethereum switches to proof of stake. Ethereum may produce $20b+ in cash for ETH holders during our first year using proof of stake. imo, this cash machine will greatly help us get to ETH at $20k.

Ethereum ETFs

On Thursday (February 25), CI Global Asset Management (“CI GAM”) announced that it has “filed and obtained a receipt for a preliminary prospectus” in Canada for CI Galaxy Ethereum ETF (“ETHX”). Once it has been launched, it should be the first Ether (ETH) ETF in the world.

Kurt MacAlpine, CEO of CI Financial, the parent company of CI GAM, had this to say:

Cryptocurrencies are transforming the financial world, and we are excited to launch the world’s first ETF investing directly in Ether, one of the most highly valued cryptocurrencies…

CI is quickly establishing a leadership position in this space, having launched CI Galaxy Bitcoin Fund and recently filing a preliminary prospectus for CI Galaxy Bitcoin ETF, in partnership with blockchain and cryptocurrency experts Galaxy Digital. With these funds, we are reducing the friction points that investors have traditionally faced in buying and holding cryptocurrencies. CI Galaxy Ethereum ETF is an important addition to that lineup as this emerging asset class gains increasing interest and validation.

CI Galaxy Ethereum ETF will trade on the Toronto Stock Exchange (STX) under the ETHX ticker. It will “invest directly in Ether with its holdings priced using the Bloomberg Galaxy Ethereum Index (‘ETH Index’), which is designed to measure the performance of a single Ether traded in U.S. dollars.” The ETH Index is owned and managed by Bloomberg Index Services Ltd.

Well, earlier today, another Canadian firm — Toonto-based Evolve Funds Group Inc. (aka “Evolve ETFs”) — announced that it had “filed a preliminary prospectus with the Canadian securities regulators for the Ether ETF.”

Raj Lala, President and CEO at Evolve, had this to say:

As a leader in disruptive innovation, we look forward to providing Canadian investors with access to another leading cryptocurrency through an ETF structure… Cryptocurrencies are fundamentally transforming digital finance and Evolve is quickly establishing itself as a leading facilitator for investing in this space. Ether is a digital asset that is not issued by any government, bank or central organization and was intended to complement rather than compete with bitcoin.

Evolve’s press release went on to say:

The investment objective of ETHR is to provide investors with exposure to the daily price movements of the U.S. dollar price of Ether while experiencing minimal tracking error by utilizing the benefits of the creation and redemption processes offered by the exchange traded fund structure.

NFT Mania Continues

On Sunday (February 28), Rolling Stone reported that Elon Musk’s girlfriend, Canadian musician Claire Elise Boucher, better known as “Grimes”, was “auctioning off 10 exclusive pieces of digital artwork — in the form of non-fungible tokens (NFTs) — for the next 48 hours.”

Well, yesterday, Tyler Winklevoss, Co-Founder and CEO of Gemini, which acquired NFT art marketplace Nifty Gateway in late 2019, said that Grimes had managed to sell her NFTs for over $5.8 million.

The Verge, which also reported on the results of this auction yesterday, had this to say about NFTs:

If you’re totally perplexed as to what’s happening here, welcome to the party. After slowly growing in popularity over the past several months, NFTs exploded over the past week or so as the hot new tech thing…

NFTs allow buyers to support artists, but it also gives buyers a couple things in return. Buyers may not get to hang these digital pieces on their wall, but they might get bragging rights for purchasing a famous work like Nyan Cat or something from a popular artist like Grimes. NFTs are also a speculative asset, and many marketplaces have popped up that offer the ability to resell them — theoretically for a lot more, so long as the hype around NFTs continues.

ETH 2.0 Beacon Chain Validators

Bitfly’s ETH 2.0 Beacon Chain explorer tool tell us that as of 19:50 UTC on March 2, there are 102,937 active validators, with around 3.29 million ETH (worth roughly $4.92 billion) staked.

Featured Image by “elifxlite” via Pixabay.com

The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.

Alt Season 2.0: Analyst Claims It’s “Showtime” For Ethereum

Ethereum has had an incredible year thus far, breaking its former all-time high on its USD pair and soaring well above it. However, on its Bitcoin trading pair, the altcoin has struggled to get anywhere near its former highs.

According to one crypto trader, that all is about to change, and it is finally “showtime” for Ethereum to take the center stage in the crypto market.

Crypto Trader: It’s Showtime For Ethereum

At the height of the last bull market, ICO fever propelled Ethereum to its then all-time high of $1,400 per token. During peak altcoin season – a period when the alternative cryptocurrencies outperform Bitcoin by a large margin –the ratio of Ethereum to Bitcoin rose as high as 0.1.

Related Reading | Altcoin Market Cap On The Verge Of Life-Changing Breakout

A dramatic 90% fall against the first ever cryptocurrency took place in the months following, and the top ranked altcoin and backbone of the DeFi movement has been struggling to return to those highs.

It could finally be “showtime” for Ethereum, according to one crypto trader. The analyst has shared a chart depicting a clear breakout from downtrend resistance on the ETHBTC trading pair, following a short-term Adam and Eve bottoming formation.

ethereum showtime bitcoin alt season

Ether is breaking out against Bitcoin after putting in an Adam and Eve bottom | Source: ETHBTC on TradingView.com

Why A Showstopping Altcoin Season Is Just Around The Corner

Adam and Eve bottoms are surprisingly common in cryptocurrencies. A small timeframe version of the pattern acted as Bitcoin’s bear market bottom, much like it has on the ETHBTC pair over the last few weeks.

As the analyst demonstrates, it could be time for Ethereum to make a shocking comeback against Bitcoin. On higher timeframes, an even larger Adam and Eve bottom has been in the works for the entire bear market, since the 2018 peak was put in.

An Adam and Eve bottom is characterized by a sharp, V-shaped bottom, followed by a more drawn out and rounded bottoming pattern.

ethereum adam and eve

An even Adam and Eve bottom is forming on high timeframe ETHBTC charts | Source: ETHBTC on TradingView.com

The rounding bottom pattern has also formed what appears to be an inverse head and shoulders pattern – another type of bottoming structure.

Related Reading | Five Signs That Say Altcoin Season Hasn’t Even Started Yet

With so many signals pointing to sustained upside in Ethereum against Bitcoin, a return to former highs on the ratio may be in the cards, and the show should be starting any day now. In the past, major Ethereum breakouts have ignited a larger altcoin season.

If history repeats, life-changing wealth will be generated in altcoins over the next several weeks. But be careful, altcoin seasons happen fast, and tend to have an unhappy ending. For now, the show will continue to go on until the credits roll.

Featured image from Deposit Photos, Charts from TradingView.com

Dan Loeb’s hedge fund hires pro-crypto Goldman Sachs analyst

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‘Chain-Agnostic’ Orion Protocol Set to Expand to Binance Smart Chain

‘Chain-Agnostic’ Orion Protocol Set to Expand to Binance Smart Chain

March 2, 2021 — Orion Protocol, the liquidity aggregator building a decentralized gateway to the entire crypto market, has revealed Binance Smart Chain (BSC) as the latest chain to be integrated into the protocol, with more chains to be announced in the coming weeks.

Phase One of Orion Terminal launched on Ethereum on Dec 15, granting users access to the liquidity of major centralized exchanges such as Binance, KuCoin, and BitMax without the need for an account on those platforms. With a full public launch slated for the end of March, incorporating Binance Smart Chain will benefit Terminal users principally through reduced costs and increased transaction speeds.

“As a decentralized gateway to the entire digital asset market, we have always been chain-agnostic,” said Orion Protocol CEO Alexey Koloskov. “Expanding to Binance Smart Chain and other blockchains is a natural move for Orion Protocol, as it gives our users more freedom to transact across the crypto sphere.

“Binance Smart Chain has attracted huge interest since launching last September, from projects and from end-users. With transaction fees a fraction of what you’d expect to pay on Ethereum, and a familiar user experience, BSC is making life easier for cryptocurrency traders. At Orion Protocol, we have plans to become a validator on the BSC network to take a more active role in its advancement.”

The implementation of the Binance Smart Chain into the Orion Terminal is already underway, with the latest updates to the Terminal set to be live imminently. Orion’s expansion to BSC promises to halve wait times for off-chain order execution and on-chain order settlement.

Orion Protocol will provide decentralized access to all major digital asset exchanges on the market, including centralized exchanges such as Binance and decentralized alternatives like Uniswap. Through Orion Protocol, users can access thousands of trading pairs at the best possible price, with near-zero slippage. They also get to trade across the entire market from the safety of their own wallet.

The Orion Protocol team is continuing to work on the implementation of the Elrond blockchain and smart contracts, with a number of other chains to be announced in the coming weeks. While many multi-chain aggregators require end-users to select the separate chains and trade on the tokens available on that chain, the multiple chains integrated into Orion Terminal remain in the back-end for a seamless user experience more akin to that of a CEX – but without surrendering your assets.

About Orion Protocol

Orion Protocol aggregates the liquidity of the entire crypto market into one decentralized platform and represents a non-custodial gateway to crypto for traders throughout the world. In addition, the Protocol will offer private banks, wealth managers, and funds a compliant and non-custodial point of access to the digital asset crypto market. With the ORN token at its core, Orion has developed 17 different revenue streams across its stack of solutions.

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An Ethereum and Web3-Compatible Sidechain Is Coming to Bitcoin Cash

An Ethereum and Web3-Compatible Sidechain Is Coming to Bitcoin Cash

On March 2, 2021, the average fee on the Ethereum network costs around 0.0083 ETH in gas or around $12.89 per transaction. Transaction fees of this caliber have dampened Ethereum-based decentralized finance (defi) applications and Web3 platforms. On February 23, however, crypto proponents were introduced to an alternative solution called Moeing chain. The Moeing chain project aims to provide the same benefits as Ethereum 2.0 scaling solutions but with help from the Bitcoin Cash network.

Moeing chain to Introduce an EVM and Web3-Compatible Sidechain for Bitcoin Cash

Decentralized finance (defi) has been a hot topic in 2020 and into 2021. Defi has also been dominant on the Ethereum (ETH) network, but during the last year, defi has leaked over to a number of other blockchains.

An Ethereum and Web3-Compatible Sidechain Is Coming to Bitcoin Cash
The Moeing chain project introduced itself on February 23, 2021, on Twitter.

For instance, Bitcoin Cash (BCH) proponents have recently welcomed the noncustodial exchange Detoken and the Anyhedge protocol built by the startup General Protocols. Additionally, on February 23 a project called Moeing chain announced its arrival onto the scene on Twitter.

The Twitter account dubbed “Moeing chain” said:

Hello World. Moeing chain is an EVM & Web3-compatible sidechain for Bitcoin Cash. It will allow for a block gas limit of one billion, and provide the same benefits of ETH2.0 very soon—so stay tuned.

The tweet leads to a web portal called moeing.org, which explains what the project is with a similar description. A sidechain compatible with the Ethereum Virtual Machine (EVM) and Web3 wallets and other infrastructure can open up numerous possibilities.

The benefits of leveraging Bitcoin Cash (BCH) means that users can utilize extremely low fees and lightning-fast confirmations while using Ethereum. Developers can get some perspective on the Moeing chain project’s Github repository.

Bitcoin Cash Proponents Anticipate Possible Launch in June 2021

According to sources, Jihan Wu the cofounder of Bitmain is backing the Moeing chain project. A recent report notes that the project has been under development for some time now and is expected to launch in June 2021. The crypto blogger on read.cash Claudio83 who authored the report explains the various benefits of the Moeing chain concept.

“The Moeing team is implementing many improvements in order to reduce the cost of gas on the chain for any type of transaction and offer users maximum efficiency and simplicity with minimum costs,” Claudio83 writes. “The sidechain will guarantee the Bitcoin Cash blockchain a high number of transactions.”

The read.cash author continued:

An exciting 2021 for Bitcoin Cash that is gaining particular attention from the crypto world and is considered to be among the most underrated projects to date. In my opinion, Moeing’s implementation will be BCH’s turning point and yet another demonstration of the enormous potential compared to the surviving Bitcoin.

As of right now, the Moeing chain website allows interested people to subscribe to the mailing waitlist in order to get updates concerning this upcoming project.

Meanwhile, ETH fees have been over $12 per transaction this week and upwards of $38 last week according to bitinfocharts.com average ETH gas data. The web portal bitcoinfees.cash indicates that the cost to get into the next BCH block is $0.0027 per transaction, a fee that’s considerably less than ETH’s average fee.

What do you think about Moeing chain’s EVM&Web3-compatible sidechain for Bitcoin Cash? Let us know what you think about this subject in the comments section below.

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Image Credits: Shutterstock, Pixabay, Wiki Commons, Moeing chain logo,

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Gensler sticks up for Bitcoin before Congress, but doesn’t say much new

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eToro and DS TECHEETAH change face of sponsorship with unique profit only deal









eToro and DS TECHEETAH change face of sponsorship with unique profit only deal

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eToro and DS TECHEETAH change face of sponsorship with unique profit only deal



















Global investment platform eToro has launched a first of its kind sponsorship deal with reigning  double Formula E Champions, DS TECHEETAH. eToro will stake £1million for DS  TECHEETAH to invest on its platform and the team will keep any profits made. 

DS TECHEETAH will invest the money in some of eToro’s top investors, using eToro’s  innovative CopyTrader feature. The team will also invest in themes that align with the team’s  values by investing in two of eToro’s thematic portfolios: Renewable Energy and Driverless. The  latter portfolio contains a number of stocks in the electric car sector, including Stellantis – the  owner of DS Automobiles, the manufacturer of DS TECHEETAH. 

eToro believes that this is the first time in the history of sport sponsorship that a deal has been  structured in a way where a team risks its profits on the stock market, as the amount of money  collected will depend on CopyTrader Investor performance. Traditional sponsorship models are  based on a set fee, whereas in this case, it is fluid. 

Dylan Holman, Global Sponsorship Manager of eToro, said:

‘We are excited to work with  DS TECHEETAH, who believe in our product as much as we do. We hope that by structuring  our partnership in this unique way, we can raise awareness to more people around the world of the potential to grow their wealth through investing. We hope to work with more companies in a  similar way in the future. 

“2020 saw a meteoric rise in retail participation in capital markets and we think this trend is here  to stay. People want simple access to markets. eToro is a social investing platform where  people can execute trades, but also see what others are doing and talk to each other. We were  the first to bring social investing to the masses and took this concept one step further by  inventing CopyTrader.”  

CopyTrader allows users to automatically copy the same trades as top investors in proportion to  the amount users choose to invest. To copy an investor on eToro there is no cost and trades  are carried out at exactly the same time and at the same market rate. CopyPortfolios offer  people access to thematic investing. 

Keith Smout, Chief Commercial Officer of DS TECHEETAH, said: “We always want to be at  the forefront of innovation, which is one of the key values of Formula E and DS TECHEETAH.  There is a lot of synergy with this deal as a number of the DS TECHEETAH team, including two time Formula E Champion Jean-Eric Vergne, have been using eToro’s CopyTrader. We have  seen the benefits of investing in the financial markets and we’re excited about this partnership,  as we aim to help demystify investing to our fans throughout the season.” 

This partnership sees eToro gain global exposure through an extensive range of marketing  opportunities including featuring on the livery of the DS E-TENSE FE20, the team environment,  digital rights, VIP tickets and more. 

To find out more about eToro CopyTrader, please visit our website

About eToro 

eToro was founded in 2007 with the vision of opening up the global markets so that everyone can trade  and invest in a simple and transparent way. The eToro platform enables people to invest in the assets  they want, from stocks and commodities to cryptoassets. We are a global community of more than 19  million registered users who share their investment strategies; and anyone can follow the approaches of  those who have been the most successful. Due to the simplicity of the platform users can easily buy, hold  and sell assets, monitor their portfolio in real time, and transact whenever they want. 

About DS TECHEETAH 

DS TECHEETAH Formula-E team is a Chinese racing team in the all-electric street racing series, ABB  FIA Formula E. The team is owned by SECA (Shanghai) Limited. The 2018/19 season saw DS  TECHEETAH secure both the Drivers’ Championship with Jean-Éric Vergne and the Teams’  Championship in the first year of our partnership with DS Automobiles. In the 2019/2020 season, DS  TECHEETAH claimed its second back-to-back Teams’ and Drivers’ Championship titles, this time with  Antonio Felix Da Costa at the helm. TECHEETAH holds the record of most back-to-back Driver wins with  Jean-Éric Vergne and Antonio Felix Da Costa securing the Driver titles in 2018, 2019 and 2020.

Disclaimer: eToro is regulated in Europe by the Cyprus Securities and Exchange Commission, by the Financial  Conduct Authority in the UK and by the Australian Securities and Investments Commission in Australia. This communication is for information and education purposes only and should not be taken as  investment advice, a personal recommendation, or an offer of, or solicitation to buy or sell, any financial  instruments. This material has been prepared without taking into account any particular recipient’s  investment objectives or financial situation, and has not been prepared in accordance with the legal and  regulatory requirements to promote independent research. Any references to past or future performance  of a financial instrument, index or a packaged investment product are not, and should not be taken as, a  reliable indicator of future results. eToro makes no representation and assumes no liability as to the  accuracy or completeness of the content of this publication.