Ethereum undervalued?: Grayscale measures value in new report

Grayscale has evaluated the value of Ethereum in a new report. The report examined the cryptocurrency using three approaches.

The crypto year 2021 has already got off to a more than encouraging start for Ethereum. Due to the boom in the decentralised financial sector (DeFi), which is based on the Ethereum blockchain, the second most valuable cryptocurrency is Bitcoin Trader currently at a new all-time high. At the time of going to press, the price was over 1,762 US dollars. Grayscale took this development as an opportunity to determine the value of the asset more precisely. The largest asset manager for digital assets examined the cryptocurrency using three approaches: Ether as a monetary asset, Ether as a consumable asset and Ether as an interest-bearing asset.

The first part of the report dealt with the money aspect of Ethereum. Ether is, in many ways, the money of the modern era. This is because every time a user closes a smart contract on the Ethereum network, provides liquidity to an application or enters a trade on a decentralised exchange, Ether would be needed to pay the network fees, the report said. While there are no capacity limits, as with Bitcoin, the network tries to use only the most necessary amount of ETH to secure the network. Competition comes from alternative assets and stablecoins, which are becoming increasingly popular. The increasing use of Ethereum as a settlement network, on the other hand, is a positive trend.

ETH as a consumer good

The fact that fees are charged for every transaction on the Ethereum network, and that the fees even increase as usage rises, could create problems for Ether. For example, investors could only hold the minimum amount of ETH necessary to pay these fees. While this would increase the speed of settlement, it would also mean a drop in the price of Ether.

The cryptocurrency counters this by using „EIP-1559“ to try to „burn“ (destroy) Ether that is created from transactions. According to the Grayscale report, this process would then completely transform Ethereum from a crypto-asset into a digital commodity.

In general, the „combustion mechanism“ can also take on a deflationary function if, for example, too many ETH are in circulation. This shortage would then lead to an increase in the price of Ethereum, as each unit would have to cover a larger share of economic activity.

According to Grayscale, price fluctuations are still very likely, but the transparent tracking within the blockchain protocols makes it relatively easy to analyse or interpret the intensity of activity. More specifically, the report states:

We can examine the total daily transaction fees collected on the Ethereum network as a measure of demand. Since Ether is the commodity that pays these fees, high fees drive demand for Ether, just as an increase in travel might drive demand for gasoline.
Phil Bonello, Grayscale Research „Valuing Ethereum“

Currently, he said, it is worth noting that transaction fees in January 2021 increased fivefold compared to the same period in 2018, while the price remained roughly the same. Another way to look at the value of Ether is to compare the historical price to sales (fees) on the network. A low price-to-sales ratio suggests that Ethereum may be undervalued.

Uniswap returns to the charge – The rise of decentralized finance seems unstoppable, and the Uniswap exchange platform is no exception. It indeed achieved a record volume of $ 30 billion in January alone.

2021 as beautiful as 2020 for DeFi?

With the DeFi hype throughout 2020, the first figures for 2021 point to an equally flourishing year for this constantly growing ecosystem.

Already in January, decentralized exchange platforms (DEX) has recorded a record volume of $ 60.9 billion .

And as once is not customary, Uniswap leads with $ 30 billion , half of the volume recorded by all DEXs.

This new record eclipses the one recorded last September, with a total of $ 30 billion, of which $ 18.65 billion is attributed to Uniswap.

UNI to the moon ?

At the same time, Uniswap’s governance token, UNI , also broke new records.

Launched only a few months ago , it has already reached a new ATH of 20 dollars , following an increase of almost 100% over the previous 7 days .

The price has since fallen to around $ 17.5 , which still allows Uniswap to place itself in 13th place in the ranking of cryptocurrencies by capitalization.

Unfortunately for him, the competition in the DEX ecosystem is tough. Indeed, SushiSwap , the community fork of Uniswap, is starting to grab market share from the unicorn, as pointed out by Mira Christanto , researcher for Messari Crypto.

Los mineros de Bitcoin profit que extraen criptocorriente en sus casas este invierno han estado evitando las temperaturas heladas utilizándolas como calentadores.

Según el Wall Street Journal, los cripto-mineros de Francia y los Estados Unidos informan que sus costes de calefacción han bajado, incluso si la temperatura en sus casas a menudo se sitúa muy por encima de lo que preferirían.

Thomas Smith, un fotógrafo con sede en California, ha estado utilizando plataformas mineras para calentar su casa desde al menos 2019. También ha estado explorando algunos usos novedosos, incluyendo el empleo de los mineros para calentar sus dos pollos en un gallinero al aire libre y para cultivar tomates en su invernadero cuando las temperaturas comenzaron a descender por la noche.

No es la primera vez que la idea se ha puesto en práctica, con informes en 2018 de que el cofundador de la bolsa de criptografía checa NakamotoX había estado cultivando „criptomates“ en un invernadero de cinco acres utilizando el exceso de calor de la minería de criptografía.

„Mi invernadero tiene 24 pies cúbicos, por lo que poner todo el calor de la computadora de la cripto-minería aumentaría su temperatura en unos 40 grados“, dijo Smith en el WSJ. „Incluso en pleno invierno, con una temperatura nocturna de 45 grados, eso llevaría a mis tomates a su límite de 85 grados. En noches más cálidas, se arriesgaría a asarlos en la parra“.

Añadió:

„He experimentado con la calefacción de mi casa usando calor residual de la minería de criptografía a pequeña escala, con mucho éxito“

Antes de la pandemia, cuando a muchos se les permitía vivir en los campus universitarios de los Estados Unidos, los estudiantes informaban de la explotación minera con electricidad „gratuita“ suministrada por las escuelas, que les ayudaba a cubrir las facturas de los servicios públicos. Un asesor residente de un dormitorio dijo en ese momento que en lugar de usar un calentador de ambiente en el invierno, simplemente extraería cripto.

Pero antes de apresurarse a ahorrar en facturas de calefacción con una plataforma de minería criptográfica, recuerde que es difícil aprovechar la minería de muchas criptodivisas en casa, ya que el coste de la electricidad a menudo hace que el uso de ordenadores personales para generar bloques sea financieramente prohibitivo, especialmente para las monedas ultracompetitivas como la BTC.

Trotz des Crashs: Bitcoin-Fundamentaldaten bleiben stärker als je zuvor

Die jüngsten Preisabstürze haben die BTC-Fundamentaldaten nicht beeinträchtigt, da die Mining-Schwierigkeit und die Hash-Rate neue ATHs registriert haben.

Obwohl der Preis von Bitcoin in den letzten 24 Stunden mit zweistelligen Prozentraten abgestürzt ist, bleiben die Fundamentaldaten des Netzwerks stark. Jüngste Daten zeigten, dass Bitcoin Era BTCs Mining-Schwierigkeit und die Hash-Rate neue Allzeithochs erreicht haben.

BTC-Abbau-Schwierigkeit und Hash-Rate ATHs

Die Mining-Schwierigkeit im BTC-Netzwerk wird alle 2.016 Blöcke (oder etwa zwei Wochen) automatisch angepasst. Abhängig von der Anzahl der aktiven Miner, die ihre Rechenleistung auf der Blockchain einsetzen, kann die Anpassung es ihnen entweder leichter oder schwerer machen, die Arbeit abzuschließen und dafür belohnt zu werden.

Es ist eine Funktion, die es dem System ermöglicht, sich selbst zu erhalten in Bezug auf externe Ereignisse, die seine Leistung beeinflussen.

Nach der letzten solchen Anpassung, die über das Wochenende stattfand, stieg die Mining-Schwierigkeit auf ein Rekordhoch von über 20,6 Billionen. Dies ist das erste Mal in der über zwölfjährigen Geschichte von BTC, dass die Metrik über 20 Billionen gestiegen ist.

Dies stellt einen signifikanten Anstieg der Bergbau-Schwierigkeit von über 20% seit dem 3. November dar, als sie auf 16,8 Billionen fiel, nachdem Berichte auftauchten, dass Bergleute aus der chinesischen Provinz Sichuan abgewandert sind.

Die Faustregel besagt, dass die Mining-Schwierigkeit steigt, wenn es viele Miner im Netzwerk gibt. Die Daten von blockchain.com bestätigen dies und zeigen, dass auch die Hash-Rate ein neues Allzeithoch von fast 150.000.000 TH/s erreicht hat.

Im Vergleich zu den Ereignissen Anfang November, als sie auf 106 Millionen fiel, ist dies ein massiver Anstieg von über 40%.

Bitcoin-Preis leidet

Während die Fundamentaldaten des Netzwerks weiter in Richtung neuer Höchststände steigen, hat der Asset-Preis in den letzten 24 Stunden eine heftige Korrektur erfahren.

BTC schwebte gestern noch über $40.000, bevor er sich auf ein Intraday-Tief von etwas über $30.000 begab. Obwohl, die Bullen erholte sich einige der Verluste aus diesem in der Nähe von $ 12.000 Preisrückgang.

Nichtsdestotrotz ist die primäre Kryptowährung seit Beginn des Jahres 2021 gut im grünen Bereich. BTC trat das neue Jahr bei $29,500 und ist immer noch etwa 10% höher jetzt, trotz der jüngsten Entwicklungen.

O Bitcoin quebrou $ 40.000 no dia 7 de janeiro, estabelecendo um novo recorde de $ 40.180, mas rapidamente fez uma correção para baixo após uma intensa rejeição de preço. Isso levou o big bull a fechar a um preço de $ 36.491.

O Bitcoin recuperou o ímpeto um dia depois e testou novamente seu recorde anterior, o que levou a criptomoeda a atingir outro preço de ATH de $ 41.946

Mais uma vez, o Bitcoin enfrentou rejeição e fez um movimento descendente para os níveis de $ 36.838, embora o Bitcoin ainda tenha conseguido fechar em $ 40.000. Evidentemente, a pressão de baixa está se intensificando nos níveis de $ 40.000 e, a menos que os touros possam suportar o calor, o Bitcoin pode continuar a cair. Existem alguns fatores-chave aos quais prestar atenção conforme o Bitcoin revisita a resistência anterior.

Até o momento, o Bitcoin está sendo negociado a $ 40.894

O gráfico de negociação de 1 hora mostra que os touros são persistentes, já que o Bitcoin conseguiu permanecer na extremidade superior do nível de $ 30.000, embora analistas observem que os preços podem despencar e retornar ao nível de suporte de $ 36.000.

Enquanto isso, o Crypto-Twitter está ativo, como sempre, com suas cenas quentes

Travis Kling, o chefe de uma empresa de gerenciamento de ativos de criptografia, observou que uma correção maciça de preço, o que ele chama de „sexta-feira negra“, poderia causar muito rapidamente a grande alta negociada a US $ 20.000. Certamente, isso resultará em quedas massivas para investidores e comerciantes otimistas no mercado, os vendedores também podem continuar a vender sem parar, fazendo com que o Bitcoin negocie ainda mais baixo.

Compartilhando um sentimento semelhante estava o analista Joseph Young, que ironicamente previu que o Bitcoin nunca será negociado abaixo de US $ 20.000. O analista alertou que a venda de BTC em curso no fim de semana de investidores asiáticos pode causar uma queda significativa nos preços.

Prisen på Bitcoin nådde nettopp en ny heltid på $ 21 569 – men angrer kryptoinnehavere som kom seg ut tidlig?

Bitcoin-prisen passerte $ 21 000 for første gang i historien 16. desember

Bitcoin-prisen passerte $ 21 000 for første gang i historien 16. desember, ikke lenge etter at kryptoaktiva brøt den psykologiske terskelen på $ 20 000.

Det nylige rallyet til $ 21,569 på Coinbase klokka 23:15 UTC, betyr at institusjonell investor MicroStrategy har sett sine andeler dobbelt i pris siden de kunngjorde at de hadde vedtatt Bitcoin (BTC) som en reserveaktiv i september, da prisen var under $ 11.000.

Imidlertid har ikke alle høyprofilerte investorer gjort seg som en banditt. Barstool Sports-grunnlegger Dave Portnoy sa at han solgte sine Bitcoin-beholdninger i august og potensielt gikk glipp av mer enn hundre grand i fortjeneste.

Portnoy rapporterte at de kjøpte minst $ 200 000 i BTC 13. august – da prisen var under $ 12 000. Den samme mengden Bitcoin ville være verdt mer enn $ 360 000 i dag, med prisen steg 80%.

Alex Mashinsky, administrerende direktør i Celsius Network, forutsa at prisen sannsynligvis vil falle snart, og presenterer en kjøpsmulighet.

„Sett deg inn, fordi vi skal besøke $ 20- $ 22K-nivået minst et halvt dusin ganger før vi bryter gjennom til $ 30K-serien senere i 2021,“ sa han.

„Jeg tror vi også vil teste $ 14-16 000 nivåer på nytt enten over en helg med lite volum eller med dårlige nyheter som treffer gaten. Det vil trolig være siste gang de fleste av oss vil ha en sjanse til å kjøpe bitcoin under $ 20K-nivåer igjen. ”

Med den bullish aktiviteten i dag har investorer

Med den bullish aktiviteten i dag har investorer som kortsluttet kryptoaktiva sett posisjonene sine avviklet. I følge data fra kryptohandelsplattformen Bybt har mer enn 630 millioner dollar i Bitcoin blitt avviklet det siste døgnet. Glassnode rapporterte at det var nesten 95 millioner dollar i avvikling av Bitcoin-futures på større kryptobørs Binance bare en time tidligere i dag:

Likvidasjoner av korte posisjoner på #Binance den siste timen: $ 94,293,438

Prisen på Bitcoin er $ 21 329 på publiseringstidspunktet, og har steget 9,7% det siste døgnet.

Etéreo Apaga Perdas Recentes como Analistas de Olho Move-se para $800 Próximo

• O Ethereum e todo o mercado de criptográficos estão mostrando imensos sinais de força hoje
• Isto vem à medida que os investidores despejam dinheiro no mercado em um ritmo rápido, com a
• Bitcoin se aproximando rapidamente de seus máximos de todos os tempos
• Este ricochete se aproxima dos calcanhares de uma forte venda que levou ETH a $490 e BTC a $16.400.

Onde as próximas tendências do mercado dependerão sem dúvida da reação contínua da Bitcoin à resistência que se encontra na região de meados de 19.000 dólares. Qualquer forte rejeição aqui poderia Bitcoin Era causar ao criptograma algumas perdas notáveis, enviando o Ethereum para baixo também Dito isto, um comerciante está em alta na ETH, prevendo que a moeda criptográfica verá um forte empurrão para $800 no curto prazo.

O Ethereum e todo o mercado de altcoin estão acompanhando de perto a ação de preços da Bitcoin hoje em dia, o que está favorecendo muito os touros.

Após um recente declínio para mínimos de US$ 490, a ETH vem se recuperando diariamente, com uma quebra acima de US$ 600 pela segunda vez na última semana.

A última parada acima deste nível foi fugaz e só permitiu que ele subisse até $620. Onde as tendências do mercado a médio prazo dependerão em grande parte da reação contínua da moeda criptográfica à resistência dentro de sua região de preço atual.

Um comerciante acredita que $800 é o próximo, observando que uma séria vantagem pode ser iminente nos próximos dias e semanas.

Ethereum Mostra Sinais de Força enquanto Touros Estilhaçam $600

No momento em que escrevo, o Ethereum está negociando um pouco menos de 5% a seu preço atual de US$ 601, o que marca um enorme aumento em relação aos recentes mínimos de US$ 490 que foram estabelecidos no final da semana passada.

A força observada no tempo desde que estes mínimos foram estabelecidos indica que este é um mercado de touro completo e que é provável que um aumento ainda maior seja iminente nos dias e semanas seguintes.

Enquanto compartilhava suas idéias sobre a tendência do Ethereum a médio prazo, um comerciante explicou que esperava que a moeda criptográfica subisse para 800 dólares a curto prazo.

Para justificar esta possibilidade, ele observa que a quebra acima de $600 marcou o nível final de resistência chave antes de seu alvo superior.

„A ETH parece tão alta na semana“. Basicamente, nenhuma resistência até $800″.

Enquanto o Bitcoin permanecer estável acima de $19.000, o impulso atual do Ethereum provavelmente persistirá e permitirá que o mercado agregado se movimente significativamente mais alto.

Bitcoin is on everyone’s lips again. The crypto reserve currency has had an impressive rally and made it onto the front pages of the major newspaper publishers. It is not uncommon to read that it could be a bubble. Whether it is really a bubble, what reasons are to be given for the Bitcoin price increase and why this week the European Central Bank (ECB) created new planning security for crypto investors.

Bitcoin price (BTC) has rallied in recent days reminiscent of the crypto bubble from late 2017

How enormous the price increases are can be seen with a view to the previous year 2020. If we started at around 7,200 US dollars in January, Bitcoin, like all other assets, had to take a hard hit from the Corona crash. At the annual low in mid-March, the Bitcoin price was quoted at just 4,600 US dollars. The fact that it then gradually worked its way up to 11,000 US dollars by the beginning of October could already be seen as a great success. Now, just a month and a half later, the Bitcoin price is trading at over $ 18,000. For this month alone, the plus is over 60 percent.

In addition to technical chart indicators, one may wonder which factors provide support for such a meteoric rise. One can come to the conclusion that it is more a long overdue catch-up effect than unsustainable hype.

PayPal: When rumors become reality

With the announcement of PayPal The current Bitcoin rally has started on October 21st, to also offer Bitcoin transactions and buy Bitcoin. Last week, on November 12th, it was also activated for the American market. The fact that now of the 346 million active PayPal users, most of whom live in the USA, the Bitcoin purchase is only a click away, can be seen as clearly positive for the Bitcoin exchange rate. PayPal makes it particularly easy for people without a crypto affinity to invest in crypto currencies.

Not much less than the fundamental demand generated by the PayPal service should be the signaling effect for the market. It is becoming increasingly difficult to see Bitcoin as an insignificant niche. At the same time, there is increasing pressure on financial companies to also offer crypto services in a timely manner in order not to fall behind.

External impact 2.0: From US senator to company board

In particular, the public perception of Bitcoin has changed significantly in recent months. With the increasing discrediting of our fiat money system through massive expansion of the money supply, even public figures – without any pressure to justify themselves – can admit that they see Bitcoin as a good store of value.

So has the newly elected US senator for the state of Wyoming, Cynthia Lummis, public television for the benefits of Bitcoin as a store of pronounced and at the same missed the inflationary dollars a swipe. Such statements by an elected US Senator would have been declared dubious and unpatriotic a few months ago. In the meantime, this picture is changing, since you have to justify yourself, especially in the free economy, if you think Bitcoin is nonsensical. In the financial sector in particular, you have to explain yourself if you ignore Bitcoin as an asset.

This new narrative is generated by companies such as Microstrategy or Square, which are publicly celebrated for exchanging part of their US dollar reserves for Bitcoin – less from speculation, but from a lack of trust in the domestic fiat currency. This signal effect, in turn, carries over to all types of investors. Starting with small private investors to the richest people in the world and their asset managers who want to diversify their portfolio

Der Vorsitzende und Mitbegründer von Intercom, Eoghan McCabe, ist auf den Zug von Bitcoin aufgesprungen und hat andere dazu ermutigt, dies ebenfalls zu tun.

Eoghan McCabe enthüllte heute, dass er auf den Wagen von Bitcoin aufgesprungen ist.
Der Intercom-Vorsitzende schlug auch vor, dass andere seinem Weg folgen sollten.
Es ist zu diesem Zeitpunkt unklar, wie viel Bitcoin McCabe genau gekauft hat.

Eoghan McCabe, Vorsitzender und Mitbegründer des Kundenbeziehungsgiganten Intercom, hat über Twitter verkündet, dass er sich Bitcoin voll und ganz zu eigen gemacht hat.

Eine Reihe namhafter Investoren und Geschäftsleute sind in den letzten Monaten zu Bitcoinern geworden, wie Michael Saylor von Microstrategy, Jack Dorsey von Twitter und der milliardenschwere Investor Stanley Druckenmiller, die alle in den letzten Monaten hinter die berühmte Krypto-Währung gekommen sind. Jetzt wächst die Liste wieder.
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„Ich möchte verkünden, dass ich nach Jahren des Dilemmas fest auf den Wagen von Bitcoin aufgesprungen bin“, sagte McCabe in einem Tweet.

McCabe fügte hinzu, dass er „jetzt wie alle anderen das Gleiche tun würde“.

• BTC
• +6.46% $16326.27
• 24H7D1M1YMax
• Nov. 9Nov. 10Nov. 11Nov. 12Nov. 13Nov. 14Nov. 15Nov. 1615000155001600016500
• BTC-Preis

Der Vorsitzende gab nicht an, was ihn überzeugt hat, auf den Bitcoin-Zug aufzuspringen, empfahl aber ein Interview zwischen Morgan Creek Digital-Partner Anthony Pompliano und Parallax Digital-CEO Robert Breedlove. Beide sind leidenschaftliche Bitcoiner.

Zum Zeitpunkt des Verfassens dieses Artikels ist es unklar, welche Form das Aufspringen auf den Bitcoin-Zug für McCabe angenommen hat. Er hat nicht bekannt gegeben, wie viel Bitcoin er möglicherweise gekauft hat, aber wir wissen, dass der Intercom-Vorsitzende in einer Zeit des signifikanten positiven Wachstums für Bitcoin an Bord gekommen ist.
Bitcoin-liebender Senator-Elect lobt Krypto als „Wertaufbewahrungsmittel“.

Die für Wyoming gewählte republikanische Senatorin und freundlichste Politikerin von Bitcoin, Cynthia Lummis, sprach diese Woche im nationalen US-Fernsehen, um die Wunder der größten Krypto-Währung zu predigen.

Der Preis von Bitcoin pendelt derzeit bei 16.188 $. Dies entspricht einem Anstieg von 6,4 % in der letzten Woche sowie einem Anstieg von 37 % in den letzten drei Monaten. Eine Preisaktion, die nicht unbemerkt bleibt.