Here’s What’s Keeping Ethereum From Taking Bitcoin’s Shine, ETH Claims $1,500

newsbtcPubblicato 2022-10-28Pubblicato ultima volta 2022-10-31

Introduzione

Ethereum is finally coming back to life after a long period of consolidation and leading the current bullish momentum in the crypto top 10 by market cap. The slow price...

Ethereum is finally coming back to life after a long period of consolidation and leading the current bullish momentum in the crypto top 10 by market cap. The slow price action might be boring for most market participants, but an expert believes ETH underwent a critical stage to create a lasting bottom.
At the time of writing, Ethereum (ETH) trades at $1,550 with sideways movement over today’s trading session and a 20% profit in the last seven days. The meme coin records a 30% profit over the same period. In the crypto top 10, ETH’s price performance is only surpassed by Dogecoin (DOGE).

ETH’s price with bullish momentum on the daily chart. Source: ETHUSDT Tradingview Ethereum Close To Another Multi-Year Bottom?
Senior Commodity Strategist for Bloomberg Intelligence Mike McGlone believes Ethereum’s migration to a Proof-of-Stake (PoS) consensus will be crucial in its long-term appreciation. In the current macroeconomic landscape, high energy prices and high inflation have taken a toll on global markets.
The U.S. Federal Reserve (Fed) has tightened its monetary policy in response to this situation. As a result, Ethereum and other risk assets returned to their pre-pandemic levels.
Still, the second crypto by market cap has been unable to hold the line close to its 2017 all-time high at around $1,400 to $1,500. As McGlone emphasized, ETH’s price has prevented further downside at these levels despite the Fed implementing its most aggressive strategy in forty years.
In that sense, the expert believes Ethereum is cementing its position “at the epicenter of the digitalization of finance.” McGlone wrote:
(…) the No. 2 crypto may be forming a foundation around $1,000 (…). Our graphic shows the No.2 crypto potentially building a base around the 2018 peak, when global liquidity topped out around plus 14%. Ethereum appears at a discount within an enduring bull market (…).

Source: Mike McGlone via Twitter The Ultimate Deflationary Asset
If macroeconomic conditions improve and the Fed pivots its monetary approach, Ethereum might finally reclaim previously lost territory and steal Bitcoin’s thunder. The expert hints at a faster decline in the supply of ETH versus BTC.
Rising demand for digital assets and a decline in supply will prove positive for the second crypto by market cap. McGlone wrote:
(…) new Ethereum supply shrinking more quickly after a protocol change that began moving coins from circulation in August 2021 and this year’s merge. The 52-week rate-of-change in the number of new Ethereum coins from Conmetrics vs. the total outstanding has fallen under 2% and is on path to drop below that of Bitcoin.

Source: Mike McGlone via Twitter Tags: ETHethereumETHUSDThttps://www.newsbtc.com/tag/ethusdt/

Letture associate

Unexpected Event in XRP: Grayscale CEO to Sell XRP Purchased Before Listing!

Grayscale CEO Peter Mintzberg has filed with the SEC to sell 2,611 shares of the Grayscale XRP Trust (GXRP) for a total value of $53,394.95. He initially acquired these shares in a private purchase from the trust on October 3, 2024, well before GXRP became a publicly traded XRP-based ETF. The sale will be executed via Cantor Fitzgerald on NYSE Arca. Mintzberg follows other Grayscale executives, including founder Barry Silbert and Chief Legal Officer Craig Salm, who also sold portions of their GXRP holdings prior to the trust's public listing. Market analysts suggest this insider selling is aimed at reducing exposure to XRP due to concerns over potential Federal Reserve rate hikes and delays in the Clarity Act legislation. The GXRP trust was launched via a private placement in September 2024, allowing insiders early access to shares.

cryptonews.ru6 min fa

Unexpected Event in XRP: Grayscale CEO to Sell XRP Purchased Before Listing!

cryptonews.ru6 min fa

A Brief History of the Lithography Machine: How a Beam of Light Walked Sixty-Nine Years

A Brief History of Lithography: 69 Years of Light In July 2026, reports of a Chinese state-backed company producing five immersion DUV lithography machines sent shockwaves through Wall Street, wiping roughly $44 billion from ASML's market cap in a single day. This event signaled a crack in the long-held assumption of Western monopoly over advanced chipmaking equipment. The journey began in 1957 when Jay Lathrop coined the term "photolithography." Early contact aligners (1960s) gave way to PerkinElmer's revolutionary projection aligners in 1973, boosting yields dramatically. GCA's step-and-repeat system (1978) established the modern stepper blueprint. However, within a decade, Japanese firms like Nikon and Canon, supported by a strong domestic market, captured nearly 90% of the global market from American pioneers, who ultimately exited the business. ASML, founded in a leaky shed in 1984, rose to dominance through key strategic moves: the TWINSCAN dual-stage platform (2001) and the acquisition of SVG, gaining access to Intel. A pivotal moment came in the early 2000s with the industry at a 193nm wavelength impasse. While most invested in the costly 157nm path, TSMC's Burn Lin proposed immersion lithography—using water between the lens and wafer. ASML bet on this simpler idea and, with Zeiss, delivered the first commercial immersion tool in 2004, effectively ending the 157nm roadmap and leaving competitors behind. The subsequent push for Extreme Ultraviolet (EUV) lithography was an even greater marathon. Deemed the least promising option in 1997, EUV's development, led by ASML, required vacuum chambers, reflective optics, and a complex tin-droplet laser plasma source. Critical to its eventual success (first high-volume manufacturing in 2018) was the 2012 "Customer Co-Investment Program," where Intel, TSMC, and Samsung provided upfront funding and equity, sharing the immense risk and cost. Today, ASML holds a near-total monopoly in EUV and immersion DUV. The core lesson of this 69-year history is not merely one of technological invention but of sustained partnership. Successive leaders—PerkinElmer, GCA, Nikon—were not ultimately defeated by superior technology but by losing the vital connection to customers willing to tolerate years of iteration, fund long-term R&D, and integrate early, imperfect tools into their production lines. The "light" that completed the journey was always carried by those patient, invested partners.

marsbit13 min fa

A Brief History of the Lithography Machine: How a Beam of Light Walked Sixty-Nine Years

marsbit13 min fa

European financial institutions launch RL1 cooperative blockchain network

Ten major European financial institutions have launched the Regulated Layer One (RL1) blockchain cooperative, established as a European Cooperative Society in Luxembourg. This jointly owned, private permissioned network is designed for regulated financial markets and tokenized assets like digital money, bonds, and collateral. Founding members include ABN AMRO, Crédit Mutuel, DZ BANK, LBBW, Natixis CIB, and others, each with equal governance rights. The network is based on infrastructure from German fintech SWIAT, which transferred ownership to the cooperative. The platform has already processed over 50 transactions worth more than €700 million in production. RL1 aims to reduce fragmentation by providing a shared ledger for institutional use and settlement, with former SWIAT managing director Henning Vollbehr at the helm. Discussions with additional institutions, including NatWest, are underway.

cointelegraph26 min fa

European financial institutions launch RL1 cooperative blockchain network

cointelegraph26 min fa

Cost to insure AI debt reaches record high amid Asian semiconductor tumble

The cost to insure AI-related corporate debt has hit a record high, coinciding with a historic semiconductor stock crash in Asia. The KOSPI index plummeted nearly 17% over two days, erasing $620 billion in market value, partly driven by leveraged retail bets. This sell-off, triggered by SK Hynix's earnings miss despite a record profit, highlights extreme market sensitivity. In credit markets, 5-year default swaps for major US tech hyperscalers surged, implying a ~12% default probability. Oracle is seen as particularly risky due to heavy exposure to cash-strapped OpenAI. The sector's massive capital expenditure, now forecast near $730 billion for 2026, is straining cash flows, with even Alphabet reporting its first-ever quarterly cash burn.

cointelegraph26 min fa

Cost to insure AI debt reaches record high amid Asian semiconductor tumble

cointelegraph26 min fa

CryptoQuant Analyst Claims 'Frightening Scenario and Simultaneously Promising Signal for Bitcoin' Reveals Ultimate Bottom Point! Here Are the Details

Bitcoin, the leading cryptocurrency, entered a bear market after hitting a historic high of $126,000 in October 2025 and has since fallen over 50%. As BTC recently dropped to around $57,000, opinions diverge on whether the bottom has been reached, with some expecting a drop closer to $50,000. According to a pseudonymous CryptoQuant analyst, the Bitcoin bear market may be nearing its end. The analyst notes that as selling pressure following the all-time high weakens, price corrections are becoming shorter and recovery periods more substantial. The July decline was only slightly below lows seen in early February, and BTC has remained relatively stable around $60,000 since, indicating diminished seller influence. Positive technical signals are also cited, with MACD and RSI showing bullish signals, positive divergences, and oversold conditions, collectively suggesting a potential bottom formation for BTC. However, the analyst does not rule out a final sell-off in the short term. They suggest the ultimate market bottom could be around $51,336, corresponding to the 61.8% Fibonacci retracement level. The $50,000 area is highlighted as a crucial historical support zone, aligning with the average investor cost basis and the 200-week moving average—conditions similar to bottoms in previous bear markets. *This is not investment advice.

cryptonews.ru1 h fa

CryptoQuant Analyst Claims 'Frightening Scenario and Simultaneously Promising Signal for Bitcoin' Reveals Ultimate Bottom Point! Here Are the Details

cryptonews.ru1 h fa

Trading

Spot