Ethereum

Ethereum Price Analysis: ETH Struggles to Break Above $4,460

Key Support level: $3,969

Key Resistance level: $4,460

The bulls are attempting another break above the all-time high after the shakeout from 27th October which saw the market take a downturn. After the short-lived correction last week, ETH recovered quickly and has maintained a price above the $3,969 support level. This is a sign of strength by the bulls. If they are to reverse this momentum, the bears must return in force.

ETH Price Technical Indicators

Trading volume: Last week’s collapse was a good recovery and the volume has remained steady ever since. Volatility and volume can explode if the peak is reached above all-time.

RSI: The RSI has maintained its level just under 70 points on the daily timeframe which leans on the bullish side. This is a sign of strength. If a breakout occurs, the RSI can rise to the overbought zone where it can remain for quite a while if a rally begins.

MACD : Bullishness is evident in the histogram and moving averages for the daily timeframe. However, bears may be able to pull price lower and flip MACD to the bearish side if they are unable to break above the alltime high. The histogram is currently making lower highs. This must change quickly otherwise bears could take control.

Bias

The bias towards Ethereum is bullish. As long as the price remains above the key psychological level of $4,000, the bulls have a real chance at breaking above the current all-time high. If ETH closes a daily candles below this level, it is possible to discuss bearish bias.

Short-Term Price Prediction for ETH

It is expected that Ethereum will attempt to break the all-time record for highest price. This would propel the price quickly to higher levels such as $5,000. It might be stuck between the resistance and key support until then. However, another failure from bulls to break above the all-time high, would embolden the bears and that may lead to another sharp rejection, similar to 27th October.

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Ethereum

Unicorn Airdrops to Over 30 Competing NFT and Memecoin Communities

[PRESS RELEASE – Yokohama, Japan, April 18th, 2024]

Unicorn, the first proof-of-stake (PoS) meme blockchain, announced the airdropping of UNICORN coins to over 30 communities. The ongoing event involves NFTs and memecoin communities. It caters to crypto enthusiasts on several networks, including Ethereum, Solana, and Cosmos. The eligibility rules are simple and enable holders of various tokens to participate.

Unicorn is a new layer-1 blockchain that benefited from a fully organic launch. It has no VCs, and the distribution of its native coin, UNICORN, only occurs via airdrops. Memecoin communities everywhere are building support for this up-and-coming blockchain, which is gaining notoriety mainly through social media and word of mouth.

Unicorn engages memecoin and NFT communities in a “claim competition,” where the most active ones get more UNICORN coins during airdrops. More precisely, communities spreading the word about Unicorn more zealously achieve a higher claim rate and get a substantial multiplier during the airdrop clawback. The project’s website shows a real-time table of the communities racing for the highest claim rate.

Here are the eligibility rules for the ongoing Unicorn airdrop:

Users must hold Cosmos, Ethereum, or Solana assets during the Airdrop snapshot.
Users can check their eligibility for the airdrop by connecting their Cosmos wallet to the UNICORN Chain website.
Users should connect their Phantom or MetaMask wallets to the website.
Users need to paste their UNICORN address in the designated input box to receive the tokens.
Users need to paste their UNICORN address in the designated input box to receive the tokens.
Users are required to repeat this process for each airdrop distribution every weekday at 9 pm UTC.

The project regularly adds new memecoin and NFT communities to the airdrop, creating a highly engaging claim competition.

About Unicorn

Unicorn is a new layer-1 blockchain project in the memecoin niche with a laidback approach to digital coin collecting. It allows its growing user community to secure the network by acquiring and holding onto UNICORN tokens instead of mining. More importantly, it does so jokingly with a cheerful spirit, specific to the global community of memecoin enthusiasts.

The project’s website features numerous classic memes and jokes, which are very popular in the meme community. One of its goals is engaging memecoin fans from various ecosystems in fun and captivating contests, such as the current airdrop claim competition.

Users can learn more about Unicorn at these links: Website | X (Twitter) | Telegram | Discord

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Ethereum

Bitcoin Jumps Above $66,000, Ethereum Rises 5% Following Weekend Massacre (Market Watch)

Bitcoin had one of its worst weekends in a long time but has managed to recover some ground and now trades at just over $66,000.

Most altcoins plummeted even harder but have begun their recovery now. SOL, TON, ETH, UNI, MATIC, and BCH are among the top performers.

BTC Rebound Starts

A lot can and has been said about what transpired in the past 72 hours or so. Bitcoin was relatively calm on Friday morning, in a tight range between $70,000 and $71,000. Then came the latest Fed statements from a few branch Presidents claiming that the central bank has no intentions to reduce the interest rates anytime soon.

Bitcoin, as well as most markets, reacted immediately. The cryptocurrency plunged by about six grand and fell to $65,000. It recovered some ground on Saturday and stood above $67,000, but then the tension between Iran and Israel escalated quickly as the former launched an attack against the latter.

Another massive leg down followed that drove BTC south to its lowest point in several weeks of $61,000. The asset faced more volatility on Sunday, leaving hundreds of millions of dollars in liquidations.

The start of the current business week has been more positive amid promising news coming from Hong Kong. Bitcoin now trades above $66,000, being up by 2.5% in the past 24 hours.

Its market capitalization has risen above $1.3 trillion, while its dominance over the alts has declined to 51.3%.

Alts Turn Green, too

The alternative coins suffered even more during the weekend, but the landscape is more favorable now. The second-largest digital asset dropped below $3,000 during the Saturday crash but has jumped to $3,250 as of now, following a 5% daily increase.

More impressive gains come from the likes of Toncoin (10%), Bitcoin Cash (12%), Solana (7%), Uniswap (8%), MATIC (7%), and others.

The total crypto market cap has recovered nearly $200 billion since the low on Saturday and is up to $2.540 trillion on CG.

Cryptocurrency Market Overview. Source: QuantifyCrypto

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

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Ethereum

Here’s How Much Bitcoin and Ethereum the US Govt Holds: Data

Over the past decade or so, countries around the world have resorted to seizing cryptocurrencies. The United States government stands at the forefront, boasting crypto holdings of almost $15.27 billion.

This substantial stash includes 212.847k BTC and 45.654k ETH.

US Leads with Holdings of $15.27B

Silk Road is perhaps the most infamous case where the US government seized approximately 144,336 BTC in 2013. Silk Road was an online black market known for facilitating the sale of drugs and other illegal goods using Bitcoin.

Another popular darknet marketplace called AlphaBay was targeted by the US authorities in 2017. While the exact amount of seized cryptocurrencies is not known, it was previously reported that the stash included Bitcoin, Ethereum, and Monero, among other tokens.

Three years later, the US Department of Justice seized approximately $3.6 million worth of Bitcoin as part of an investigation into alleged money laundering and fraud involving the cryptocurrency exchange Bitfinex and its affiliated stablecoin issuer, Tether.

Following closely behind the US is the British government, which holds 61.245k BTC, valued at around $4.34 billion, according to the data compiled by Arkham Intelligence.

Meanwhile, the German government currently possesses 49.859k BTC, with an approximate value of $3.53 billion.

Notably, the Salvadoran government has emerged as an active participant, with holdings of 5.718k BTC, valued at approximately $405 million, largely attributed to proactive purchases.

Crypto Seizure

The majority of these countries’ crypto assets stem from confiscation for several reasons. This includes criminal investigations during which cryptocurrencies are used in illicit activities such as money laundering, drug trafficking, terrorism financing, and cybercrime. Law enforcement agencies seize crypto assets as part of investigations to disrupt criminal operations and hold perpetrators accountable.

Governments may seize cryptocurrencies from individuals or businesses suspected of evading taxes by not reporting crypto-related income or transactions. Seizures serve as a means to enforce tax compliance and ensure that taxpayers fulfill their obligations.

Additionally, cryptocurrency exchanges and other platforms may be subject to regulations related to anti-money laundering (AML) and know-your-customer (KYC) requirements. Seizures may occur when entities fail to comply with these regulations or engage in fraudulent activities.

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