Ethereum Weekly (1/6/22)
Ethereum Weekly - Edition 5
Welcome to the fifth edition of Ethereum Weekly and Happy New Year!
Ethereum (ETH) held at the $1,200 price point for the week on again as it entered into the new year at $1,195 but has climbed slowly ever since. Investors have been waiting for the latest economic data which includes the jobs report from today showing another 223K jobs added in December. With the jobless rate now down to 3.5%, the Federal Reserve may look to further slow the US economy by raising interest rates when the agency next meets but wage growth was below expectations. In Europe, there was some encouraging news as inflation fell to 9.2% in December from 10.1% the prior month.
So where is the price of Ethereum headed this month? On the upside, I expect ETH to test its high from the last month of around $1,340 given its 200-day moving average is around $1,390. Over the course of the year, the economic news should brighten which could help push all the markets high, but with a potentially difficult first quarter still to fight through.
The Ethereum “Shanghai” upgrade is expected to take occur around March 2023 and this could be a bullish turn for the second-largest cryptocurrency. The upgrade will make it easier to stake and unstake Ethereum so expect quite a bit more ETH to be staked taking those coins out of circulation and putting upward price pressure on the digital asset.
A big question mark this year revolves around regulation. After FTX and other collapses in 2022, Federal bank regulators warned banks about investing in crypto this week and regulations could well be on the way in 2023.
The Crypto Greed and Fear Index highlighted below sits at 26 in the "Fear" range and is down two points from where it was at last week.
Ten Must-Read Ethereum and Altcoin Articles This Week
Ethereum’s Shanghai upgrade could supercharge liquid staking derivatives — Here’s how (Cointelegraph)
Ethereum Investor Turns $7,000 Into $27,000,000 on New Years Eve Trade: On-Chain Data (The Daily Hodl)
Grayscale Ethereum Trust Trades at Record 60% Low Against Ethereum (Decrypt)
Ethereum Classic achieves strong bounce back, thanks to hash rate stimulation (AMB Crypto)
Why You Need to Invest in Toon Finance and Ethereum this New Year (CryptoMode)
Top Ethereum Tokens To Buy in January 2023 (Coingape)
Ethereum founder says he hopes Solana gets a ‘chance to thrive’ (Cointelegraph)
Ethereum Name Service: Strong Community, Weak Investment Case (Seeking Alpha)
Ethereum Price Statistics (as of 1/5/2023, daily close)
Ethereum Price = $1,250
Last Week = $1,217
Weekly High = $1,275
Weekly Low = $1,242
Market Cap = $152,703,364,778
Market Cap Dominance =17.825%
All-Time High = $4,878.26 on November 10, 2021
statistics provided by CoinGeckoEthereum Fun Fact of the Week
Ethereum has two different types of accounts: contracts and user accounts (aka externally-owned accounts).
Ethereum Staking Statistics
Validators = 495,588
Block Time = 12.06 seconds
Staking Ratio = 13.75%
Total Supply = 122,373,866
statistics provided by StakingRewards
Crypto Fear & Greed Index
index provided by Alternative
What is Ethereum?
Ethereum (ETH) is a digital cryptocurrency that is known for being a blockchain technology that operates decentralized apps (dapps) such as decentralized finance (DeFi), non-fungible tokens (NFTs), stablecoins, lending, and more. First proposed by Vitalik Buterin who published a whitepaper in 2013 and went live as a network in July 2015, Ethereum claims it is not controlled by a centralized authority but that can be questioned. Ethereum went through the "merge" in 2022 moving from a proof-of-work to a proof-of-stake mechanism becoming much more environmentally friendly.
For more on Ethereum, please read the Top Things You Should Know About Ethereum (ETH) on Publish0x written by MuyAsk
For more on the Ethereum Whitepaper, please read the I Finally Read the Ethereum Whitepaper on Publish0x written by CryptoMasterMiner
Find Ethereum on Ethereum.org, Reddit, Twitter, Instagram, Facebook
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