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Ethereum

Positive Ethereum Forecasts Amid Ongoing Bull Run, What About Everlodge?

Ethereum (ETH) has hit an 18-month high with its value, and this recent price movement suggests that bulls could lead the rally in the short run while the crypto could swing much higher during 2024. The price breakout above the $2,000 hurdle gained the attention of whales, triggering this rally.

It’s worth noting that ETH is currently in a correction, but many analysts seem to be of the opinion that it’s a healthy one.

Everlodge (ELDG) also showcased a similar pattern, as it saw a significant upswing in value since the start of its presale. With the introduction of blockchain and AI-driven elements into the $280 trillion real estate market, it’s becoming an interesting project to watch.vsichkite

Ethereum (ETH) Broke Past $2,000 in the Past Month – Can It Reach $4,000?

Ethereum (ETH) saw a breakout above the $2,000 range during the past month and, since then, has been heading rapidly in an upward direction. It gained the attention of investors, which was triggered by its rally, and the price continued the momentum supported by a decent buying volume.

The EMAs for Ethereum showcased a golden crossover that boosted the confidence of long-term investors. It also showcases that the price is in a strong uptrend as bulls continue their dominance. The price of the Ethereum crypto is now in the grip of bulls and is trading near the 18-month high. The majority of the games occurred within the past month, and as a result, it’s clear that bulls are active on the market.

Pseudonymously analyst known as Bluntz told his over 230,000 followers on X (Twitter) that the ETH crypto officially entered a bull territory after leaving the multi-month accumulation range.

According to the analyst, the crypto will leave behind traders who are fixated on ETH’s gains against BTC. In the past week, the ETH crypto moved between $2,079.53 and $2,380.99.

At the time of this writing, the price has corrected to $2,250 – a 4% retrace in the past 24 hours, following the broader crypto market.

Everlodge (ELDG) Introduces AI-Driven Tools to the Real Estate Market

Everlodge (ELDG) is a real estate marketplace that will introduce AI technology to the $280 trillion real estate market. The platform will enable anyone to get into real estate investing without needing to have millions of dollars in upfront capital.

It aims to solve issues such as transparency, liquidity, and lack of accessibility. On top of the platform, properties will get minted into NFTs, each worth $100. These retain the benefits found in property ownership, such as value appreciation and passive income through rentals.

The ecosystem will feature a Property Launchpad, where builders can get support from the community and those who jump into properties early and get the most gains as a result. There will be a dedicated AI tool that will monitor and scan global property prices in all territories. It will then give an up-to-date snapshot of a specific region at that point in time. As a result, it is used as a predictor for undervalued markets.

Everlodge also saw a significant level of attention. During Stage 7 of the presale, the ELDG token is offered at $0.025.

For more information about Everlodge (ELDG), please visit their website.

Disclaimer: The above article is sponsored content; it’s written by a third party. CryptoPotato doesn’t endorse or assume responsibility for the content, advertising, products, quality, accuracy, or other materials on this page. Nothing in it should be construed as financial advice. Readers are strongly advised to verify the information independently and carefully before engaging with any company or project mentioned and do their own research. Investing in cryptocurrencies carries a risk of capital loss, and readers are also advised to consult a professional before making any decisions that may or may not be based on the above-sponsored content.

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Ethereum

Railgun Denies North Korea Ties as it Approaches $1B Total Volume

Crypto privacy protocol Railgun has denied accusations that it is being used by North Korea and other United States-sanctioned entities to launder digital assets.

This development comes as the crypto privacy protocol nears $1B total volume.

Railgun Denies Lazarus Group Association

Responding to claims made by crypto reporter Colin Wu through an X post, Railgun denied allegations linking it to the North Korean hacker group Lazarus Group.

“The North Korean hacker group Lazarus Group is also a user of the coin mixer Railgun,” the post stated. “Railgun is seen as the main alternative to Tornado Cash after the sanctions were imposed on it,” the team added.

Wu’s post referenced an FBI statement from January 2023 that accused Railgun of being used to launder over $60 million worth of Ethereum stolen during the 2022 Harmony Bridge heist.

RAILGUN protocol: “Any suggestion that sanctioned individuals, governments, or entities such as North Korea have used RAILGUN have no evidence & are based only on speculation.” From 2023, all RAILGUN transactions go through a Private Proofs of Innocence check which verifies that…

— Wu Blockchain (@WuBlockchain) April 16, 2024

“This is not true, and it’s false reporting,” Railgun stated. The team affirmed that the Lazarus group can’t access the Railgun system due to its ‘Private Proofs of Innocence’ system, which became operational over a year ago. Railgun also dismissed the accusation as a mistaken and false claim.

This development comes amidst a surge in Railgun’s total volume, which is about to break the $1 billion mark. Data from Dune Analytics reveals that Railgun has reached $962.81 million in total volume, with its total value locked on Ethereum surpassing $25 million.

Buterin’s Endorsement of Railgun

The protocol’s rise in popularity has been further propelled by an endorsement from Ethereum co-founder Vitalik Buterin, who recently defended it while praising its privacy features.

“Privacy is normal,” Buterin affirmed. “Railgun uses the privacy pools protocol, which makes it much harder for bad actors to join the pool without compromising users’ privacy.”

Meanwhile, Buterin has transferred 100 ETH (approximately $325,000) to Railgun within the last two days, according to data from Arkham Intelligence. Over the past six months, he has engaged with Railgun several times, regularly interacting with the platform using small amounts of ETH each month.

Railgun, established in January 2021, leverages zero-knowledge cryptography to shield wallet balances, transaction history, and transaction details. This allows customers to use decentralized apps (DApps) while safeguarding their privacy.

The introduction of Private Proofs of Innocence in January 2023 has increased Railgun’s security measures as it now uses cryptographic assurance to verify the legitimacy of funds entering its smart contract.

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Ethereum

EY Launches Ethereum-Based OpsChain Contract Manager for Business Contracts

Ernst & Young (EY) has launched OpsChain Contract Manager (OCM), an Ethereum solution that leverages zero-knowledge proofs technology.

The solution will help private businesses efficiently manage and execute intricate business agreements while ensuring confidentiality, timeliness, and cost-effectiveness.

EY Launches the OpsChain Contract Manager

EY, one of the top “big four” accounting firms alongside Deloitte, KPMG, and PwC, has been exploring the business applications of zero-knowledge proofs (zk proofs) since at least 2018.

OpsChain Contract Manager (OCM) is tailored to facilitate the secure management of business contracts on a public blockchain. By leveraging zero-knowledge proofs, OCM ensures contract integrity and confidentiality while enhancing efficiency and reducing costs.

The platform integrates with existing enterprise systems through a standardized API and supports various contract types, including volume purchase agreements and pricing models linked to market data feeds.

The development of OCM came from EY’s previous client engagements, where it realized that contract term accuracy could be enhanced while significantly reducing cycle times and administrative costs by approximately 90% and 40%, respectively.

Meanwhile, EY chose Ethereum, a public blockchain, over a private network to prevent any party from gaining undue advantage while mitigating the risk of sensitive business information leakage.

Paul Brody, EY Global Blockchain Leader, highlighted that the technology behind OCM, Nightfall, initially emerged on Ethereum and underwent testing on its test network. The upcoming update will transition Nightfall to Ethereum’s mainnet and may incorporate a Layer-3 upgrade to enhance scalability and functionality.

EY’s Venture Into Blockchain

EY’s launch of OpsChain Contract Manager comes amid increasing blockchain adoption by major financial players. BlackRock also recently entered the space with a tokenized fund on Ethereum.

EY’s OCM reflects its commitment to revolutionizing how enterprises handle contracts, focusing on enhancing process efficiency and transparency through blockchain solutions. By integrating blockchain into traditional business practices, EY sets a precedent for the industry’s progression toward embracing this transformative technology in routine operations.

This latest development builds upon EY’s ongoing engagement with the blockchain sector. EY recently made headlines with a “healthcare breakthrough” by leveraging blockchain technology in collaboration with Canadian Blood Services.

In October 2023, EY unveiled the fourth generation of its EY blockchain analytics tool, Reconciler, designed to aid Fidelity in enhancing internal risk management for digital assets.

In September 2021, EY also announced its collaboration with Polygon to integrate Polygon’s solutions with EY’s flagship blockchain services, including EY OpsChain and EY Blockchain Analyzer.

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Ethereum

Ethereum Poised to Retest $3.5K as Bullish Sign Reappear (ETH Price Analysis)

After experiencing a rapid downturn, Ethereum has found itself supported by a substantial zone, comprising the 100-day moving average and a critical price range between the 0.5 and 0.618 Fibonacci levels. Consequently, a bullish rebound is anticipated in the medium term.

By Shayan

The Daily Chart

A thorough examination of the daily chart reveals an extended period of corrective retracements, culminating in the price finding support within a pivotal zone.

This zone encompasses the 100-day moving average at $3050 and the significant price range between the 0.5 ($3190) and 0.618 ($2972) Fibonacci levels.

This range carries significance as it attracts considerable demand, potentially hindering further downward pressure from market sellers. Additionally, a minor bullish divergence between the price and the RSI indicator suggests the potential for a bullish resurgence, targeting a reclaim of the $3.5K threshold. However, despite the bullish indications, an unexpected breach below this critical support zone could trigger a cascade effect toward the 200-day moving average at $2.5K.

eth_price_chart_2004241
Source: TradingView

The 4-Hour Chart

A closer inspection of the 4-hour chart reveals the formation of a descending wedge pattern during a multi-month consolidation correction. Following a significant decline, the price has reached the lower boundary of the wedge and the support region around $3K.

Nonetheless, given the potential buying pressure within this crucial range, the price has entered a consolidation phase characterized by minimal volatility.

This price action highlights a tug-of-war between buyers and sellers. Nevertheless, a noticeable divergence between the price and the RSI indicator on the 4-hour timeframe suggests the strength of buyers, increasing the likelihood of a bullish upswing in the medium term. In such a scenario, the next target for the price would be the critical resistance level at $3.5K. Conversely, should a break below this support occur, a descent toward the $2.7K support becomes increasingly probable.

eth_price_chart_2004241
Source: TradingView

By Shayan

As Ethereum’s price exhibits signs of recovery, it’s crucial to determine whether this resurgence stems from spot buying or leveraged futures activity. A key metric for this analysis is the funding rates, where positive values signify bullish sentiment and negative values indicate fear in the market.

Observing the recent downtrend in Ethereum’s price, it’s notable that the funding rate metric has mirrored this trajectory, steadily declining until reaching near-zero levels. This alignment suggests that the recent price drop has led to the liquidation of a significant number of positions in the perpetual market, resulting in a cooling effect on the futures market. Consequently, the market appears primed for the re-emergence of long positions, with the potential for a fresh upward surge.

eth_funding_rates_chart_2004241
Source: CryptoQuant
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Cryptocurrency charts by TradingView.

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