After the Fed's 75bps print, volatility increased and caused liquidation on both sides of the book before selling off to a weekly low of $1220. Subsequently, the price found some relief along with a rise in long open interest. Within a week, the closing price had reversed again, indicating underlying weakness in the market. ETH closed the week at $1,295 and returned -3.01% WoW.
Ahead of Wednesday's FOMC, ETH/BTC showed strength, jumping over 4% by Tuesday afternoon.
After the Ethereum merger, there was a significant increase in user contract calls. Historically, such behavior has indicated a growth in activity on the Ethereum network that goes beyond simple token transfers. Concerns about network instability may have motivated participants to sideline holdings before the event was successful.
After the successful merge was confirmed, along with the cancellation of any technical issues, activity skyrocketed in the following days. Interestingly, increased volumes persisted throughout...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...