Ethereum

Houston Firefighter’s Pension Fund Purchased $25M in Bitcoin and Ethereum

The Houston Firefighters Relief and Retirement Fund (HFRRF) has hopped on the cryptocurrency bandwagon by making a $25 million investment in BTC and ETH. Through a partnership with New York Digital Investment Group, the allocation was possible.

The October 21st press release outlined the partnership between the two organizations, reading that NYDIG facilitated the investment through one of its regulated, audited, and insured funds.
It was the first allocation of this type from a US public pension plan. According to Bloomberg, the total investment was worth $25 million. The report did not specify which portion was in bitcoin and which part in ether.
“We are excited to take this first step forward into the world of digital assets. This investment reflects our belief in distributed ledger technology’s disruptive potential for the development of value accumulation through disintermediation.” commented Ajit Singh, HFRRF’s Chief Information Officer.
Being one of the largest pension organizations in Texas, HFRRF’s benefactors include more than 6,600 active and retired firefighters and survivors of firefighters.
While the HFRRF may be the first US pension fund that has accumulated BTC (or Ethereum), it is not the only conservative US-based institution to do so.
MassMutual, a giant insurance company with nearly $300 billion investment accounts, made its initial step in December 2020 by buying $100 million worth of bitcoin.
Later on, the institution also partnered up with NYDIG to enable some of its clients access to the primary cryptocurrency.

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Ethereum

Ethereum Foundation Sets Up Multisig Wallet for Defi Participation

The Ethereum Foundation has announced the creation of a new multi-signature wallet using the Safenet platform to enhance its treasury operations and facilitate participation in the decentralized finance (defi) ecosystem. Ethereum Foundation Begins Transition to Safe Multisig Wallet The wallet, which operates on a 3-of-5 multisig structure…
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Ethereum

Ethereum Price Analysis: This Support Is Crucial for Ethereum to Reach $4K

Ethereum is grappling with a decisive support range between the 100-day MA ($3.2K) and the 200-day MA ($3K), a critical region serving as the buyers’ last line of defense.

The outcome at this level is expected to shape Ethereum’s mid-term trajectory.

Technical Analysis

By Shayan

The Daily Chart

ETH recently encountered heightened volatility as it approached the significant $3.2K-$3K price range, reflecting an intense battle between buyers and sellers. The price action highlights sellers’ attempts to push the asset below these key moving averages, signaling a potential bearish breakdown.

Currently, Ethereum is finding temporary support within this range, with the price confined between the $3.2K level and the bullish flag’s upper boundary. A decisive breakout in either direction is likely to determine the next major trend for Ethereum.

The 4-Hour Chart

On the 4-hour chart, Ethereum consolidated near the 0.5 ($3.2K) and 0.618 ($3K) Fibonacci retracement levels before briefly breaking below this critical support zone. However, strong buying interest quickly drove the asset back above the $3.2K mark.

This region remains pivotal as it represents the final primary support zone for buyers. A sustained hold above the $3.2K level could reignite bullish momentum, targeting a recovery toward higher resistance lines.

Conversely, a breakdown below this range could trigger liquidations, potentially driving the price toward the $2.5K support zone. For now, Ethereum is consolidating near this critical region, with a battle between buyers and sellers dictating the market’s next move.

Onchain Analysis

By Shayan

The Binance liquidation heatmap provides insights into key levels where significant liquidation events are likely. Based on the clustering of liquidation levels for long and short positions, these levels often act as magnets, driving price action toward them as market participants aim to capture liquidity.

During the recent shake-off, Ethereum grabbed liquidity at the $3K mark, resulting in a sharp price recovery. A notable cluster of wrecked levels still exists just below the critical $3K support, representing long-position liquidations. This makes the $3K area highly attractive to bears and institutional sellers, increasing the probability of a bearish breakout toward these levels in the mid-term.

However, a significant liquidity pool also rests at the $4K threshold, marking a potential ultimate target for buyers. However, it is likely that the price may grab liquidity below $3K first, creating a shakeout phase before resuming a bullish trajectory toward $4K. While Ethereum’s current price action reflects consolidation, the $3K level remains pivotal. A bearish breakout to capture liquidity below $3K is plausible in the short-to-mid term.

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Cryptocurrency charts by TradingView.

Ethereum

Ethereum Slips Further Behind as Competitors Steal the Spotlight

As the global cryptocurrency market capitalization expands to $3.59 trillion, the second-largest digital asset, ethereum (ETH), has struggled to keep pace with its peers. Over the past six months, its performance has lagged significantly, falling short of the momentum seen elsewhere in the sector. Stagnation Strikes Ethereum as Its Competitors Surge Ahead Lately…
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