Global #Ethereum

The cryptocurrency market is experiencing a notable upswing, with almost all top cryptocurrencies showing positive growth in the last 24 hours. Bitcoin and Ethereum have increased by 3.3% and 2.0%, respectively, while BNB, Solana, XRP, and Dogecoin have seen gains of 2.3%, 5.4%, 0.6%, and a striking 9.4%.

XRP has recently encountered challenges in its attempt to break through the $0.600 resistance zone, leading to a decline in price. As of now, XRP is testing the critical support level at $0.5840, indicating a phase of consolidation.

Ethereum's daily burn rate has surged by a substantial 163% in the past week. This significant increase in the amount of ETH being destroyed has caught the attention of market analysts and investors alike.

The Ethereum ecosystem is witnessing a notable shift as long-term holders, particularly whales, begin to offload their assets. This trend coincides with the Ethereum Foundation's ongoing selling spree, raising questions about market dynamics and future price movements.

In a notable shift within the cryptocurrency market, Bitcoin (BTC) is on the verge of forming a "golden cross," a bullish technical indicator that occurs when the 50-day moving average crosses above the 200-day moving average.

The U.S. Securities and Exchange Commission (SEC) has postponed its decision on proposed rule changes that would permit options trading for spot Ethereum exchange-traded funds (ETFs).

Lucerne Cantonal Bank (LUKB) has made history by becoming the first traditional Swiss bank to offer deposit and withdrawal services for cryptocurrencies.

Ethereum (ETH) has recently demonstrated impressive strength, surpassing key resistance levels and even outperforming Bitcoin (BTC). The price of ETH cleared significant barriers at $2,550 and $2,650, with bullish momentum propelling it to a high of $2,701.

The cryptocurrency market has experienced its fair share of highs and lows, with many predictions falling flat, particularly throughout 2023. However, recent developments, especially Ripple's partial legal victory over the U.S. Securities and Exchange Commission (SEC), may signal the onset of the long-anticipated altcoin season, a trend that many analysts believe is now on the horizon.

In a surprising turn of events, two significant Ethereum whales have executed substantial sell-offs, even as the price of Ethereum (ETH) rises. Over the last 12 hours, these major players moved a total of 8,510 ETH, valued at approximately $21.9 million, to centralized exchanges, prompting speculation about their motivations amid a bullish trend.

This past week has witnessed a notable surge in altcoin performance alongside Bitcoin (BTC), leading to an increase in the Altcoin Season Index, which has risen to a two-month high of 45, according to Blockchain Center.

PayPal has officially confirmed its preference for the Solana blockchain over Ethereum for launching its stablecoin, PYUSD. José Fernández da Ponte, head of PayPal’s Blockchain, Crypto, and Digital Currencies business unit, cited the Ethereum network's shortcomings in facilitating effective payment solutions as a key reason for this decision.