Ethereum 4 Hour Price Update
Updated June 11, 2020 07:21 AM GMT (03:21 AM EST)
Ethereum is down 0.62% ($1.54) since the previous 4 hours, marking a reversal from the candle prior — and the end of a 4 four-hour candle positive run. Out of the 5 instruments in the Top Cryptos asset class, Ethereum ended up ranking 3rd for the four-hour candle in terms of price change relative to the previous 4 hours.
Ethereum Daily Price Recap
248.01 (USD) was the opening price of the day for Ethereum, resulting in the previous day being one in which price moved up 1.64% ($4.01) from the previous day. The price move occurred on stronger volume; specifically, yesterday’s volume was up 14.59% from the day prior, and up 31.27% from the same day the week before. Out of the 5 instruments in the Top Cryptos asset class, Ethereum ended up ranking 2nd for the day in terms of price change relative to the previous day. Let’s take a look at the daily price chart of Ethereum.
Ethereum Technical Analysis
Volatility for Ethereum has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. Or to view things another way, note that out of the past 30 days Ethereum’s price has gone up 18 them.
Overheard on Twitter
Over on Twitter, here were the top tweets about Ethereum:
- From Byemijnr:
@instablog9ja Right now, 1 Bitcoin is #3.9million while 1 Ethereum is #99,000. I just discovered a way to accumulate ethereum within a short time. You can earn 150eth or $30,000 in (6months). When you convert that, its worth over #3million.
Interested to join just Dm
This is my own work
- From realLedgerwatch:
Now I smile when I recall CryptoKitties at the end of 2017. The amount of computation required to get execute Ethereum state transition from the Genesis block to that moment is less than 10% of the amount to get from that moment to now 🤓 And going to Cancun was nice too
- From DvdSchwrtz:
The Internet is a wrapperThe apps we use inside it today are built top-down with a few people in control#Ethereum will host the bottom-up apps we will all design and control togetherBanking, voting, fantasy football, news, etc$ETH is the currency of these apps
In terms of news links for Ethereum here’s one to try:
Breaking Down ETH 2.0 – The Next Generation of Ethereum
The changes that this upgrade is going to bring in a host of changes like – proof-of-stake, Sharding, eWASM, Plasma, and the Raiden Network. Ethereum 2.0 has been an open secret for quite some time now….Image Credit: Plasma Whitepaper Let’s break down the functionalities: If properly implemented, the Plasma protocol will allow Ethereum to speedily and efficiently execute vast amounts of data, without clogging up the main blockchain. The next significant update to consider here is eWASM….Another thing to keep in mind is that the original Ethereum POW chain will continue to exist along with the beacon chain in the early phases….In fact the beacon chain is not going to be particularly useful in the early stages since it will be able to do the three most important things that an Ethereum chain should be able to do – process transactions, execute smart contracts, or host dApps. However, Ethereum has purposefully done this….For ETH 2.0, the Sharding will result in the blockchain partitioning into 64 shard chains that will run parallelly and should be able to communicate with each other easily….With the implementation of POS and Sharding, it will be exciting to see how Ethereum’s throughput improves. Beyond Phase 2, there should be more opportunities to increase the overall reach and functionality of the Ethereum network.