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Ethereum {ETH} 2.0 will bring in the Proof-of-Stake protocol which would result in enhanced security


Ethereum is ranked at #2 to the north of XRP in the market. The trading volume recorded stands at roughly $7.028 billion, whereas the supply has 108,071,939 ETH coins included as part of the circulation. The total market cap of Ethereum amounts to $19.696 billion as of this instant. The price dropped at a rate of 0.24% in the course of the past 24-hours; this brought ETH all the way down to $182.26 where it currently rests.

According to the candlestick chart linked to the ETH/USD pair on tradingview [based on the data obtained from the Bitstamp Exchange], this virtual currency has been consolidating for quite a while due to equal participation from buyers and sellers. In the aftermath of 7th October, the peaks tied to the Awesome Oscillator all bore the green shade, pointing to the presence of bullish momentum.

The daily RSI [for 14 periods] has recovered gradually and now sits at 45.01 which indicates that Ether has landed in the neutral zone. Post-7th October, the MACD line began moving above the signal line causing the histogram to switch shades [from red to green]. Key support lies adjacent to the $152.77 mark, whereas resistance may be felt if ETH can afford to climb through barriers and reach $202.75 anytime soon. In my opinion, Ether has a slight chance of climbing towards $185 if buyers refuse to give in.

At Osaka in Japan, Vitalik addressed scores of ETH enthusiasts and discussed the arrival of Ethereum 2.0. Vitalik thinks that the consensus mechanism will be safer for all once ETH migrates to PoS protocol. This will also amplify Ethereum’s scalability and promote decentralization [validators don’t enjoy the same rights as miners do; one can choose to question a separate machine’s authenticity].

Disclaimer - OBN is an informational website which aims to give the latest blockchain related news to the readers. Articles on OBN should not be considered as investment advice. Trading cryptocurrencies is a high-risk investment, every user is advised to consult an expert before making any decisions.