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ETH’s technical and on-chain indicators point toward further downside, but there is a silver lining. Ether’s price fell this week, and several data points are beginning to suggest that further downside could be in store.  On July 24, Ether (ETH) experienced a drop close to its monthly low, reaching $1,825 amid Bitcoin’s (BTC) negative price action, as uncertainty loomed over macroeconomic conditions and a potential whale sell-off. Several on-chain and technical indicators point to further downside in ETH prices. However, the extent of this downward movement could be limited, considering the profit levels of existing holders and the decrease in ETH’s liquid supply. ETH on-chain analysis suggests more downside Since the beginning of 2023, Ethereum’s network value-to-transaction value (NVT) metric has indicated that the asset may have been overpriced. Glassnode’s NVT signal gauges the relative value of the Ethereum network by comparing the market price to the volume of on-chain trans...

Binance Starting Ethereum Withdrawals Crypto exchange Binance in a tweet on April 19 revealed that it is enabling the withdrawal function for ETH 2.0 staking. The participants who staked Ethereum with Binance can redeem ETH with their BETH holdings at a 1:1 ratio from the ETH 2.0 staking page. After availing an ETH withdrawal request, users can’t cancel their requests after submission. Due to processing limitations on the Ethereum network, staked ETH withdrawals request can take 15 days to several weeks. While making a withdrawal request, a customer can view the expected distribution date. As per a new update by Binance customer support, users will be able to get their ETH faster than earlier expected due to shorter timeframe processing. “We completed the ETH 2.0 withdrawal process ahead of schedule. While initial estimates suggested it could take 15 days to several weeks, we made the process completed in a shorter timeframe! so our users are able to access their fun...

As the crypto industry recovers, a new generation of modular blockchains could replace centralized bridges and exchanges. The public blockchain sector grew from less than a few million dollars in the last decade to a $1 trillion industry. However, one thing that the space has yet to solve is a decentralized and secure interoperable solution. Let's take Ethereum (ETH) to Bitcoin (BTC), the largest blockchain network, for example. Till today, centralized exchanges are the only viable solution for shifting from one chain to another. A centralized solution provider, BitGo, provides the largest pool of liquidity for Ethereum users to gain BTC exposure via Wrapped Bitcoin (WBTC). The BitGo IOU accounts for over 93.6% of the Bitcoin bridged to Ethereum. Users must rely on BitGo partner platforms like centralized exchanges or CoinList to exchange BTC and WBTC. The dominance of WBTC exposes it to evident centralization and regulatory risks. RenBTC, a platform managed by Alameda Research, d...

ETH price has repeatedly failed to break above a key trendline resistance and now Ethereum risks losing a strong technical support as well. Ether's (ETH) rally versus Bitcoin (BTC) is not only showing signs of exhaustion, but is also in danger of breaking below a key technical support level.  ETH slides vs. BTC in second half of January The ETH/BTC pair declined nearly 9.25% on Jan. 24 from its local top of 0.0779 BTC established on Jan. 11. Since the start of the year, Bitcoin is slightly outpacing Ether in USD terms, rising 38% versus 35%, respectively. ETH/BTC daily candle price chart. Source: TradingView Interestingly, Ether's pullback versus Bitcoin has landed its price at the bottom of its EMA ribbon range, as shown below. ETH/BTC weekly candle price chart. Source: TradingView The EMA ribbon indicator shows numerous exponential moving averages of increasing timeframe on the same price chart. Dropping below the ribbon range increases an asset's likelihood of seeing a...