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Ethereum News

Ethereum Price Analysis: ETH Is Weak But Could Start Upswing Soon

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ethereum price analysis

In today’s altcoin news, we are focusing on a deep Ethereum price analysis which shows how ETH climbed above $231 and traded towards $265 – as well as its current price levels.

What you should know is that Ethereum rebounded from the $231 low in 2019 to a high of $264.99. As of recently, there was a break below a short term asecnding channel with support at $257 on the 30-minute chart. Right now, however, the Ethereum price remains well bid on the downside and trades around $249.

As Bitcoin surged above $8,000, Ethereum retraced too and the ETH price climbed above the $238 and $246 resistance levels. The Ethereum price analysis shows that ETH even broke $260 and traded to a new weekly high at $264.99, which demonstrates a strong rebound from the $231.10 swing low.

The latest cryptocurrency news show the Ethereum price correcting lower below the $260 level. Its 23.6% Fibonacci retracement level shows that there is some support but that the gains are quite independent. The ETH price is currently trading below the $255 level and the 25 simple moving average (30-min).

Any further declines could push ETH towards the $231 swing low which still remains as a level, according to our Ethereum price analysis. When it comes to the current price action, it is definitely going from neutral to bearish but as we see ETH above $242, it is likely to bounce back above $260.

In the coming altcoin news, analysts expect Ethereum to stabilize and potentially mimic another rally sparked by Bitcoin and its solid price performance. In the long run, the Ethereum price analysis shows that there is room for a lot of improvement. The second largest digital asset could open up to the $260 levels psychologically.

On the upside, the coin needs to regain the $270 barrier which is crucial in its development towards the $300 margin. As many best cryptocurrency news sites have showed, the upside is likely to gain traction and the next focus is expected on the critical $300 margin.

As we can see from this Ethereum price analysis, the second largest digital asset has a market value of $27 billion and an average daily trading volume of $11 billion, gaining 1.4% on the day since Sunday but still being down 2.5% since the beginning of Monday.

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Ethereum News

Crypto Stamp Collectibles Now Available On The ETH Blockchain

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Crypto stamp collectibles are now available by the Austrian Post Office powered by the Ethereum Blockchain as a limited edition and we read more about it in the latest cryptocurrency news. There will be a limited 150,000 units of crypto stamp collectibles of five different stamps: black, blue, red, yellow and black. The stamps will allow the owners to use a physical stamp and can later save its image in their wallets. According to a Reddit user, the distribution is as follows: 1,500 red stamps, 10,000 yellow stamps, 20,000 blue stamps, 40,000 green stamps, and 78,500 black stamps. The stamps retail for 6.90 Euro which means that the project will bring up to $1 million in revenue. The ‘’Crypto Stamp’’ is the first use case for non-fungible tokens which are launched by the government making it a milestone. The major success will help to determine the future for NFTs which can now be spread across multiple Ethereum token standards. The recently completed ERC-1155 enables the developers to issue cheaper fungible and non-fungible tokens. The stamps will use the Ethereum’s first NFT standard the ERC-721. The standard was invented by Enjin’s Witek Radomski and can be described as a hybrid of ERC-2- and ERC-721. The standard was very important to Enjin who aims to facilitate a gaming marketplace and development tools for everyone that builds games on the ETH blockchain. As reported in the previous coming altcoin news, the Austrian crypto stamps show a slight glimpse of the future of the digital property. The use case is pretty new compared to the types of things that you can use your blockchain wallet in the future. One day it may be possible to prove the ownership of a car or a right of any kind. The crypto community asks the question: how will this work? Most likely the blockchain will handle all the given challenges the world has to throw at it. The permission-less blockchain requires a significant amount of resources to secure and run. Therefore, the future most likely holds multiple blockchains with many people using crypto wallets to enable them to connect to all the most popular ones.
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Ethereum News

Polish Bank Uses The Public Ethereum Blockchain For Documentation

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A bank based in Warsaw named Alior Bank has decided to step up and use the public Ethereum blockchain. The Polish bank will use the public blockchain to authenticate its client's documents, as a new report by Forbes posted in the latest cryptocurrency news shared on June 17. The report also notes that with the Ethereum blockchain, the Polish bank will serve clients in a better way. For example, when a client at Alior receives their document, they can now verify its authenticity by following a website link to its spot on the public blockchain. In other words, customers can verify that the document in question was in fact issued - in the exact wording provided - when the bank claims. The blockchain technology lead at the Polish Bank Alior, Piotr Adamczyk, explained:
“We know exactly in which block of Ethereum the document with a given hash is published. If we know the block number, we also know the timestamp [...] We know that the document was published some time ago and hasn’t been changed in that time [if the hash stored on the blockchain is identical to the hash calculated from the document], so we can prove it hasn’t been replaced on our servers.”
Meanwhile, the best cryptocurrency news sites show that Alior has reportedly developed the blockchain solution in response to the changing regulations in Poland, where the Office of Competition and Consumer Protection in 2017 ruled that website pages do not constitute a "durable medium" necessary for issuing the customer documents. Then, the Polish bank came up with a blockchain solution that provides online documentation through a suitably durable medium. The management at Alior also said that it is the first bank to use a public (as opposed to a private) blockchain for its customer service. The blockchain strategy lead, Tomasz Sienicki, was also featured in the altcoin news for stating:
“We want people to verify that we did everything right and we don’t conceal anything. If we say the documents are actually verified and authentic, everybody can check it and confirm [...] That’s not possible using a private blockchain.”
All of this proves that the Ethereum blockchain is still in demand as one of the most popular solutions out there. On another note, it proves that the Polish bank Alior is keeping up to date with new technologies and knows how to implement them.  
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Ethereum News

Google Cloud Services Now Support Ethereum Smart Contracts

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Google Cloud Services now support Ethereum smart contracts and the company is even expending resources to learn how the smart contract platform works. In today’s coming altcoin news we read more about how the people can integrate with the Google services and the smart contracts platform. None of the major tech companies want to miss out on the blockchain race but Google has been really quiet on the issue. The company makes billions by selling ads for its dominant search engine but it did mention that they had to learn how the Ethereum blockchain might work in the cloud environment. Google aims to enable its clients to operate on the ethereum blockchain and expand its services even more. The company is also looking at hybrid cloud-blockchain solutions with the help of Ethereum. Companies like Microsoft and Google are already providing blockchain services for the tech companies so the goal is to maintain clients in the ever-changing landscape. Most of the companies choose Google and Amazon depending on their needs since they both made efforts to integrate blockchain services but it seems like Microsoft is leading the way. Google integrated Chainlink and described:
 “Participants in prediction marketplaces allocate capital to speculate on future events in general. One area of intense interest is which smart contract platform will predominate because, being networks ecosystems, their value will follow a power law (i.e. winner-take-all) distribution. There are many differing opinions about which platform will succeed, as well as how success can be quantified.”
The reports in the latest cryptocurrency news explain how smart contracts can be helpful for these tech giants and how Google’s services can be used in these tech giants. Google Cloud Services will apply hybrid applications will be built on the cloud infrastructure using the blockchain technology. While Google has yet to follow the path of Telegram and Facebook and announce some broader blockchain integration, they do however understand the importance of helping companies who need the blockchain. The mainstream service providers that offer blockchain services is the best way to mass crypto adoption. When the smaller companies find out that they have easy access to blockchain services, they are most likely to consider the technology and integrate some form of the decentralized ledger technology.
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Ethereum News

Ethereum’s ETH 2.0 Serenity Upgrade Will Launch By January 2020

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Ethereum’s ETH 2.0 Serenity upgrade will most likely launch by January 2020 according to the reports by the public blockchain developers who claim to be working hard on the project. We read more about the project in today’s altcoin news. The final launch date will reportedly be set on January 3rd, 2020. It is still not definite but the Ethereum Foundation researcher Justin Drake stated a couple of days ago during the 19th Ethereum’s ETH 2.0 implementers call that the new date was a reasonable target and could end up being selected for the activation of the Beacon Chain of Serenity ‘’Phase Zero.’’ The first phase will finish the Ethereum shift from proof-of-work (PoW) consensus to the proof-of-stake (PoS) consensus via validators. The Beacon Chain and once it is activated upon the genesis block will facilitate the proof-of-stake block validation via the Casper tech and will represent the foundation for later layering. Drake previously stated that the code specification of Phase Zero getting frozen later this month could lead the Ethereum community to conduct ‘’a deposit contract ceremony’’ during the year’s Devcon5 conference in Osaka, Japan this October. According to the latest cryptocurrency, Drake noted:
 “So the idea here is try and launch the deposit contract ahead of the target genesis [block], so that we allow time for validators to make deposits. And then one idea here is to basically do a deposit contract ceremony at Devcon. One of the reasons to have this very public ceremony is so that we can all agree on the exact address of the deposit contract and avoid scam deposit contracts.”
The Ethereum foundation researcher also explained how activating Ethereum’s ETH 2.0 genesis block on January 3rd could avoid the holiday months during the winter and could be perfect timing with the 11th anniversary of the Bitcoin genesis block network. Previously this month, the tech giant Microsoft released VeriSol which is an open-source smart contract verification tool for Ethereum to the Microsoft Azure computing platform’s cloud. Ethereum also saw its daily gas usage record getting broken by the end of May. Moreover, ETH 2.0 testnets are starting to materialize as well which gives the builders the opportunity to get familiarized with the Ethereum future.
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