@CryptoMasterMiner 8 July 2023 more from that month

Ethereum Weekly (7/7/23)

**Ethereum Weekly - Edition 31** Welcome to the latest edition of *Ethereum Weekly!* Ethereum (ETH) had a stable week and remained virtually unchanged down just $4 week over week. Ether continues to stare at $2,000, however, that appears to be a formidable resistance level for the second-largest cryptocurrency to conquer. News of multiple applications for spot Bitcoin ETFs has the largest cryptocurrency rolling up around 12% last month, nearly four times the gains of Ether which rose just over 3% in June. Ether tried to rally as we kicked off the second half of 2023, but has struggled to stay above $1.900. Concurrently, activity on the Ethereum network has dropped significantly which has resulted in 12-month lows for transaction fees. NFTs, once a boom for Ethereum, are no longer an "it" thing to have, and the astronomical prices for this modern-day digital art have fallen dramatically for their celebrity and everyday holders alike. So the hysteria of NFTs has faded and DeFi is no longer the rage, what does Ether have going in its favor? Well, staking of course. Staking ETH has become hugely popular and shows no signs of slowing down with around 20% of all ETH staked by valadators. I see a lot more Ether potentially being staked as returns of around 4% are deemed fairly safe and higher than many other returns even in crypto currently. Looking at Ether's price, I think we can look at pretty even numbers for support and resistance. As mentioned above, resistance is looking strong at $1,900 while I think the support level is close to $1,800. Should this lower number be tested, I could see ETH finding another support level around $1,700 while the $2,000 mark on the upside looks much more challenging to overtake. The 200-day moving average sits below $1,600 which is a major reason I think Ether is more likely to find its way lower if I had to pick a side in the short term. But this is not financial advice, so please do your own research when buying or selling crypto. Investors have come to grips with the idea that the Federal Reserve is going to raise rates when they meet again soon. The brief rate pause of the last meeting was just that, a pause, so expect rates to start climbing again if Chairman Jerome Powell is to have his way and beat inflation. But overall, unless we start hearing of some real signs of economic trouble in the United States or Europe I don't think we will see any major price movement based on microeconomics. Then again, the SEC has surely shown a propensity to sue crypto firms as of late and that is never well received. Instead, look for on-chain activity and crypto industry news to move the needle. Hopefully, we have some good news on the horizon. The Crypto Greed and Fear Index highlighted below sits at 55 in the "Greed" range down one point from where it was at last week. I hope everyone who reads this has a great weekend! **Ten Must-Read Ethereum and Altcoin Articles This Week** Why Ethereum saw 580,000 new addresses in one week (AMBCrypto) https://ambcrypto.com/why-ethereum-saw-580000-new-addresses-in-one-week/ Ethereum: Why holders prefer staking over trading (AMBCrypto) https://ambcrypto.com/ethereum-why-holders-prefer-staking-over-trading/ Will liquid staking cause Ethereum to succumb to the forces of centralization? (Blockworks) https://blockworks.co/news/liquid-staking-ethereum-centralization Why Ethereum whales are on a selling spree (FXStreet) https://www.fxstreet.com/cryptocurrencies/news/why-ethereum-whales-are-on-a-selling-spree-202307060753 Ethereum Starknet Launches Testnet For ‘Quantum Leap’ Upgrade (NewsBTC) https://www.newsbtc.com/news/ethereum/ethereum-starknet-launches-testnet-for-quantum-leap-upgrade/ Bitcoin BRC-20 Tokens Are Now Moving Over to Ethereum (Decrypt) https://decrypt.co/147662/bitcoin-brc-20-tokens-now-moving-over-ethereum Ethereum NFT royalties hit 2-year low as Bored Ape floor price falls below 30 ETH (Cointelegraph) https://cointelegraph.com/news/ethereum-nft-royalties-hit-two-year-low-as-bored-ape-floor-price-falls-below-30-eth Ethereum Whale Transfers Over 25,000 ETH To Exchange: Massive Dip On The Horizon? (NewsBTC) https://www.newsbtc.com/news/ethereum/ethereum-whale-transfers-to-exchange/ Uniswap v4: Launch Hinges On Ethereum's Upcoming Cancun Upgrade (Bitcoinist) https://bitcoinist.com/uniswap-v4-launch-hinges-on-ethereum-cancun-upgrade/ Ethereum Developers Propose 'Circuit Breaker' To Deter Hackers (The Defiant) https://thedefiant.io/ethereum-developers-propose-circuit-breaker-to-deter-hackers **Ethereum Price Statistics** *(as of 7/6/2023, daily close)* Ethereum Price = $1,848 Last Week = $1,852 Weekly High = $1,968 Weekly Low = $1,841 Market Cap = $224,635,068,584 Market Cap Dominance =18.397% Trading Volume = $8,924,248,532 All-Time High = $4,878.26 *on November 10, 2021* statistics provided by CoinGecko **Ethereum Fun Fact of the Week** The price of Ether in the initial coin offering (ICO) phase was $0.31. **Ethereum Staking Statistics** Validators = 652,907 Block Time = 12.15 seconds Staking Ratio = 17.14% Inflation = -0.15% Total Supply = 122,373,866 statistics provided by StakingRewards **Crypto Fear & Greed Index**

*index provided by* *Alternative* https://alternative.me/crypto/fear-and-greed-index/ **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 https://www.publish0x.com/crypto-truth-lexicon/top-things-you-should-know-about-ethereum-eth-xllwodo https://www.publish0x.com/@MuyAsk For more on the Ethereum Whitepaper, please read the I Finally Read the Ethereum Whitepaper on Publish0x written by CryptoMasterMiner https://www.publish0x.com/journey-through-crypto-from-newbie-to/ive-finally-read-the-ethereum-whitepaper-xkprjnz https://www.publish0x.com/@CryptoMasterMiner Find Ethereum on Ethereum.org, Reddit, Twitter, Instagram, Facebook https://ethereum.org/ https://www.reddit.com/r/ethereum/ https://twitter.com/ethereum https://www.instagram.com/ethereum_official https://www.facebook.com/ethereumproject/ ***** Where to Buy and HODL Ethereum (*********Referral Links*********) ***** Coinbase (Get $10 and earn by learning) https://www.coinbase.com/join/8m5yy3 Crypto.com (Get $25 to sign up) https://crypto.com/app/p7jxbgbthv KuCoin (Lend out your Ethereum) https://www.kucoin.com/ucenter/signup?rcode=rB973L5 ***** My Crypto Work ***** BOTZ - My Passive Income Generating NFTs (OpenSea link) https://botz.finance/ https://opensea.io/collection/yieldbotz *Yield Farming* - My Book on Amazon (paperback and eBook) https://www.amazon.com/Yield-Farming-Paul-Donaghy/dp/B0BMZ9ZX8T ***** Earn Free Crypto ***** Publish0x - earn crypto for reading and writing articles https://www.publish0x.com/?a=4oeE8VWld0 Presearch - earn crypto for searching on the internet https://presearch.com/signup?rid=3594977 Torum - earn crypto on this social media site with a crypto focus https://www.torum.com/?referral_code=cryptomasterminer Zirkles - stories that pay in crypto like Publish0x https://zirkels.com/?ref=cryptomasterminer PipeFlair - Faucet to earn MATIC and other cryptos https://pipeflare.io/r/e7f1 **Thank you for reading Ethereum Weekly!** Resources https://www.investing.com/crypto/ethereum/historical-data https://alternative.me/crypto/fear-and-greed-index/ https://www.stakingrewards.com/earn/ethereum-2-0/metrics/ https://coincheckup.com/coins/ethereum https://cryptopanic.com/news/ethereum/ https://cointelegraph.com/ethereum-price https://www.tradingview.com/symbols/ETHUSD/ https://ycharts.com/indicators/reports/ethereum_statistics https://coinmarketcap.com/currencies/ethereum/ https://coinlib.io/coin/ETH/Ethereum https://www.coingecko.com/en/coins/ethereum https://milkroad.com/ethereum https://query.nansen.ai/public/dashboards/Hk93n66vsO0uvycfui8ypF2xcpNhpraxfwX5AWZJ