Ethereum 4 Hour Price Update
Updated August 16, 2020 01:35 AM GMT (09:35 PM EST)
Ethereum closed the last 4 hour candle down 0.27% ($1.16); this denotes the 2nd consecutive candle it has gone down. Out of the 5 instruments in the Top Cryptos asset class, Ethereum ended up ranking 2nd for the four-hour candle in terms of price change relative to the last 4 hour candle.
Ethereum Daily Price Recap
Ethereum’s 3 day positive streak has officially concluded, as the candle from the day prior closed down 1.34% ($5.88). The price move occurred on volume that was down 45.82% from the day prior, but up 44.38% from the same day the week before. On a relative basis, Ethereum was the worst performer out of all 5 of the assets in the Top Cryptos asset class during the day prior. Here is a 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. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. Or to view things another way, note that out of the past 14 days Ethereum’s price has gone up 8 them.
Overheard on Twitter
For laughs, fights, or genuinely useful information, let’s see what the most popular tweets pertaining to Ethereum for the past day were:
- From VitalikButerin:
Reminder: you do NOT have to participate in “the latest hot defi thing” to be in ethereum. In fact, unless you *really* understand what’s going on, it’s likely best to sit out or participate only with very small amounts.There are many other kinds of ETH dapps, explore them!
- From Crypto___Oracle:
Starting to see #Chainlink become a phenomenon similar to #Bitcoin and #Ethereum. Seeing it in places I haven’t before and observing a general buzz of excitement. Little do many people know the credentials of the minds building it and the impact it will have on the world.
- From real_vijay:
Ethereum’s great advantage in being a Rube Goldberg machine is that it can constantly change narratives to bring in new unsuspecting money.- World computer
– dApps
– ICOs
– deFiThe multiheaded Hydra keeps eating noobs no matter how many heads are cut off.
For a longer news piece related to ETH that’s been generating discussion, check out:
Tokenized Bitcoin on Ethereum Explained | Binance Academy
What else could we do with Bitcoin?…Why tokenize Bitcoin?…This also makes bitcoins programmable – like any other token on Ethereum….There are many ways to tokenize Bitcoin on Ethereum and other blockchains….This could also help the case of tokenized bitcoin on Ethereum. On the other hand, some argue that this is potentially dangerous for tokenized Bitcoin holders….The main driver behind tokenizing bitcoin as an ERC-20 token is to increase the utility of Bitcoin. If Ethereum can capture a significant portion of Bitcoin transactions, there could be major implications for the future.