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JPMorgan To Merge With Ethereum’s ConsenSys Platform

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Banking giant JPMorgan to merge its Quorum Blockchain project with Ethereum’s ConsenSys platform as we are reading further in the ethereum news today.

According to the latest reports that we have here on DC Forecasts, the terms of the deal are still under discussion and are not still set so the merger could happen within the next six months. Quorum was first introduced in 2016 and created a wave of excitement for the users since it was officially connected as a bank to Ethereum and even if it was a private version of the tech, it got a lot of support. The firm suggested at the time that open source projects were a step towards creating a system that could connect the private institutions via the distributed networks.

Since then, Quorum had its privacy features from Ethereum added and there as a huge revamp based on the Java programming language in a bid to try and make it easier for businesses to use and deploy projects. The platform was also used as the basis for JPMorgan’s interbank information network which was now listing more than 365 banks on board. The platform is aimed at allowing the member banks to exchange more information in real-time which will also allow them to verify payments that have been approved.

JPMorgan to merge with Ethereum will mean a whole lot for the crypto platform, especially since the bank suggested Quorum could be spun off and it was uncertain if that could be the case at the time. Reuters reports added that the Quorum unit employs more than 25 people around the globe and it’s not yet clear if they will become a part of the ConsenSys team after the merge. JPMorgan has not commented yet.

As previously reported, ConsenSys, the New York-based blockchain company officially released a new dApp and blockchain developer job kit which will help the ETH developers enter the market. ConsenSys noted previously on LinkedIn’s 2018 US Emerging Jobs Report that the blockchain developer rates have reached the professional network’s list as the highest-growth positions last year. The Kit includes a knowledge glossary, covering topics such as consensus algorithms, miners, security, smart contracts, token standards, and scalability issues.

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at editor@dcforecasts.com

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Ethereum News

One Indicator Suggests ETH Could Soon Rise To $200

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There has been a big market wide uptrend lately which was sparked when Bitcoin first broke above $7,000 - proving that the entire situation will be particularly beneficial for Ethereum, too. As the crypto news today show, one indicator suggests that ETH could soon rise to $200. In the near-term, it does appear that this momentum will extend significantly further. One fundamental indicator shows that ETH is undervalued at its current price and that it may shoot really higher in the future. The one indicator we are talking about may extend ETH's momentum further and prove that it is undervalued right now, giving it a chance to shoot higher. All of this comes as the crypto market approaches a critical technical level that bulls need to surmount, with a clean break above this level fuelling a new massive upside. Currently, the price of Ether (ETH) is up by over 7% at a price of $171, marking a notable climb from the multi-day lows of $140 which were set the past weekend. Anyways, the upswing marks an extension of that which was first incurred on Sunday evening, which was around the time when the cryptocurrency started pushing higher in tandem with Bitcoin. The ETH buyers, however, have proven to be more zealous than BTC's - the crypto has been consistently outperforming the benchmark cryptocurrency and is currently trading up just under 5% against BTC. The ETH news suggest that this one indicator could also spark a rise in the 200-day moving average, which is critical level that could determine whether or not this ongoing upswing transforms into a full-blown bull rally.
“Ethereum daily – First of the majors to retest MA 200 on this broader move,” one popular analyst noted in a recent tweet.
The technical level now sits around the $170 mark and could catalyse some significant momentum - especially if it is decisively broken above. According to the Glassnode research and analytics group, ETH's MVRV ratio shows that its current price levels should be roughly $202, while the market value now is significantly below this.
“Ethereum’s MVRV Ratio, a metric used to assess if price is above or below ‘fair value’, currently sits at 0.8 – indicating that it is currently undervalued. ETH’s realized price is currently $202 while current market value is $164.”
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Ethereum News

ETH/USD Pair Retreats To $170 Amid Crypto Market Correction

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The ETH/USD pair retreats to the $170 price level during the overall crypto market correction as per the ethereum news that we have below. The ETH/USD pair retreats after reaching the $168 level and is moving around to find a critical barrier before going further. The second-largest cryptocurrency reached a high of $176 but the bulls failed to hold the ground so the recovery for $200 price level is postponed. The ETH/USD pair lost more than 2% on the day-to-day basis and managed to gain 3% since the start of today.  At the time of writing, more than 25% of Ethereum addresses are in money which is a good improvement from yesterday. The minor ETH addresses cluster had a breakeven point at $178 which means that the upside could be limited by this area. The number of transactions continued to increase but the volume dropped. The ETH/USD pair found support by the 1-hour SMA50 at $1667 and if this level is broken, the sell-off could continue towards the lower line of 1-hour Bollinger Band at $163. This area could slow down the overall retreat but the move below this barrier will open up to the 1-hour SMA100 and the $156 following the crucial barrier at $150. The intraday RSI reversed to the upside and this means that the price could resume the recovery provided by the $170 level if it stays unbroken. On the daily chart, the ETH/USD is capped by the SMA200 at $172 and the recovery will gain traction in the next focus on daily SMA50 at $178 with the psychological level at $180. The area will be hard to pass for the ETH bulls but if it is cleared, $200 price level will come quickly into focus. Over the past week, Ethereum increased above the $130 price range, and the price spiked above the $145 resistance, settling above the 100 simple moving average. It later tested the $150 resistance area, which is where the bears emerged. There was a slight downside correction below this level and the price traded below the 23.6 percent Fib retracement level from the upward movement of the $129. If Ethereum remains stable above the $140 support and the 100 simple moving average, the price could rise further.
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ETH Outperforms BTC As Whales Accumulate This Week

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The latest Ethereum news show that the second most valuable digital asset and biggest altcoin has seen a wave of buying in the past 24 hours. We can see that this is what gave strength to the coin and how ETH outperforms BTC in the past day, rising with double digit gains and leaving the most valued coin in the dust. As of press time today, we can see that Ethereum is up by more than 8%, now sitting at $169. It managed to breach the $170 levels this morning, too - trading at a price of $174 per token. Bitcoin, meanwhile, added a couple of points to go above $7,300 and it is still within this mark. The biggest price for BTC today was $7,431 per coin recorded this morning. ETH outperforms BTC and it did that in the past week and 3 months, stats show. Bitcoin, on the other hand, outperformed Ether in the past month and past 12 months. [caption id="attachment_38947" align="aligncenter" width="720"]eth outperforms btc Source: Coinpaprika.com[/caption] Currently, the latest cryptocurrencies news are showing a mix of reds and greens. However, the latest surge for ETH comes as blockchain analysis tools developed by the analytics firm Into The Block show a bullish sentiment surrounding Ethereum - rather than the one for Bitcoin. Most notable is the "concentration of large holders" which has increased and is now showing a positive change of 0.26%. As usual, the accumulation of coins by the largest holders - referred to as whales - is seen as bullish for the price. Despite the positive accumulation of coins by large Ethereum holders, the same metric indicates a negative value of -0.04% per BTC, indicating a slight bearishness by the largest investors in the Bitcoin market. If we dive deeper into the technical charts and analyses, ETH outperforms BTC and is looking relatively strong at the moment. There is some resistance that can be found around the $190 level but the Ethereum news show that this is a level that the price was at just before the major market crash on March 12. The low afterwards which reached $90 for ETH showed that ever since then, Ethereum managed to rise by 93% and almost recovered all of its losses from this ugly sell-off. Meanwhile, Bitcoin is up by 76% since then.
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Key Trend In ETH Price May Soon Lead To Rally

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We are seeing a lot of divided opinions on the price of Ethereum (ETH) lately. However, what is also noticeable is a key trend in ETH price which may soon spark a rally and help ETH get over $160. This morning, the ETH news show that Ether is one of the market leaders with 7% gains in a relatively short timeframe. All of this started when the cryptocurrency made another attempt to surpass the $145 level and the resistance against the US dollar, but failed in doing so. This is when the ETH price formed a swing high near the $146 level and declined below $142. However, this decline was protected by the main $140 support level and the 100 hourly simple moving average. The price is currently rising and trading nicely above the $153 level. So, we witnessed a great price run by Ether (ETH) and a key trend in ETH price was formed. There was a break above the 50% Fib retracement level of the recent decline and ETH managed to go to $145 and then $153 very quickly. These indicators show that the price of Ether is now one of the cryptocurrencies with the strongest momentum in the crypto news today. Another very important and interesting detail in the Ethereum news comes from the network behind Ethereum. According to stats, the growth rate of the Ethereum (ETH) network is rising noticeably, something which indicates that the long-term outlook of Ethereum remains highly positive. Since January 2020, the Sentiment Ethereum addresses chart shows an increase from 40,000 to over 70,000 within four months. All of this suggests that more users are utilizing the Ethereum blockchain network. For any blockchain network, unique address growth is a crucial and fundamental factor for medium to long-term watch. The key trend in ETH price may also derive from this, and high profile investors such as Brian Kelly have consistently used this statistic to predict the price trend of major cryptocurrencies such as BTC and ETH. Since late 2019, we have seen an explosive rise in the popularity of decentralized finance (DeFI) platforms for loans which use ETH as collateral. All of this made the ETH price go up and fuelled the demand for this coin.
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