Three crypto exchanges supported trading hardfork Ethereum tokens, Crypto-Upvotes experts

Poloniex and MEXC began trading ETHW and ETHS tokens in anticipation of Ethereum updates. And BitMEX launched trading in futures contracts.

Three crypto exchanges have supported trading of tokens that may become available after hardfork Ethereum. Last week, Poloniex and MEXC announced the launch of ETHS and ETHW trading. And on August 8, BitMEX launched a futures product based on ETHPoW tokens.

Poloniex and MEXC allow Ethereum holders to exchange their cryptocurrency for ETHS and ETHW at a 1:1 ratio. These tokens function like derivatives and allow users to trade blockchain assets that have yet to launch.

On these exchanges, ETHS trades at a price close to Ethereum, while ETHW is much cheaper and trades in the $125-130 range.

In case two blockchains are formed. Then these exchanges will support the holders of both tokens.

If the ETH 2.0 update is completed without a blockchain fork. The cryptocurrency will keep its previous name ETH. In this case, Poloniex and MEXC will suspend and exclude ETHS, ETHW and related markets.

Our experts also noted that сryptocurrency exchange Binance has also announced that it will consider supporting new Ethereum tokens. Binance team has announced support for the upcoming Ethereum update. However, it warned that all new hardfork tokens will undergo the same strict verification process before listing on Binance as any other coin.

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When ETH will grow to $5,000 Crypto-Upvotes experts’ opinion

Our experts have analyzed possible changes in ETH price. And paid attention to factors which can lead to growth or decline of ETH in the near future.

Our experts believe that of all cryptocurrencies, Ethereum will make maximum profit by the end of this year. We predict 4 possible scenarios for ETH price as of March 31, 2023. In these possible scenarios, we consider two factors. These are the change in Fed rates and the Ethereum “Merger” ( blockchain’s transition to a new protocol) planned for September.

Scenario 1: Fed reversal (change of regulator’s policy towards lower key rate) and successful “Merger” of Ethereum. according to our experts, this is most likely scenario, with the target price of ETH at $5,000.

Scenario 2: Fed does not change policy, but ETH “Merger” is successful. In this case, expected price of cryptocurrency is about $3,560

Scenario 3: Fed does not change policy, “Merger” of ETH goes unsuccessfully. In such a case, we forecast a price equal to recent lows around $1,000.

Scenario 4: There is a reversal of Fed policy, with the “Merger” failing (ETH network will continue to operate as it does today). In this case, the price of ETH will be $1.6k.

There are all preconditions for these scenarios, but there is no guarantee that it will happen.

At this moment, both futures curves, money markets, and surveys of leading economists are signaling that the key rate hike will peak in December and January, and the start of FED policy easing will begin in March at best.

FED will raise rates in September by 0.75% and the market will refocus its expectations for a peak rate hike in March 2023. In that case, Ethereum could hold in a $1K-$1.7K range closer to a lower line.

Only after that by the end of the year a Merger factor will be triggered. And there will be prospects for the end of the cycle of tightening of monetary policy. And more headlines about Web3 and ETH will start to appear in the media. Then there will be more reasons to realize optimistic scenarios with Ethereum price returning to $3.5k – $5k.

 

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Why Ethereum Classic (ETC) is rising in price and what its prospects are – expert opinion by Crypto-Upvotes

Crypto-Upvotes experts told about investments in ETC and estimated probability of miners’ transition to Ethereum Classic mining

Cryptocurrency Ethereum Classic (ETC) shows significant growth. Having risen by 45% in the last month alone. On July 28, ETH reached $34, gaining more than 23% in one day. Ethereum Classic is currently ranked 20th in cryptocurrency capitalization at $4.61 billion with a daily trading volume of $5.26 billion.

Rise in price of coin began after announcement that main Ethereum network will switch to new operation protocol (Proof-of-Stake) at the end of September. This transition will mean the end of ETH mining. Due to this event, and because Ethereum Classic blockchain uses the same mining algorithm. All ETH miners can start migrating to ETC.

Ethereum Classic cryptocurrency appeared in 2016 as a result of a hard fork of main Ethereum network. Because reason for blockchain forking was hacking of DAO investment project. And the theft of about 3.6 million Ethereums from it, which at that time amounted to about $60 million. Developers of Ethereum Foundation project conducted a blockchain split to compensate for losses.

Interest of big players grows in ETC

Ethereum Classic began to appreciate after announcement that ETH will switch to Proof-of-Stake (PoS) in fall. Ethereum Classic will remain its only major blockchain with smart contracts after main network switches to a different algorithm. Which run on classic PoW and Ethash mining algorithm.

Miners will migrate to the ETC network because of specific ASIC chips. Migration of miners will theoretically strengthen security of Ethereum Classic network, which has been attacked several times. Developers of fork are counting on growing interest of smart contract owners, who will not want to migrate to PoS.

ETC has been showing growth for the last few days. It is very likely that the volumes we are now seeing from the big players and companies. Who are buying up the asset in order to further hold on to it.

Our Crypto-Upvotes experts have noticed that mining pool Antpool. Which is affiliated with mining equipment maker Bitmain. It has invested $10 million in Ethereum Classic ecosystem. It also intends to accept accept ETC for payment for its products. Our experts say that in bull market ETC price with support of corporations can go up to $100+.

What will be effect of Ethereum move to POS for ETC

For holders of large scale crypto farms, ” classic” PoW algorithm is more profitable. Than new PoS, to which Ethereum main network is migrating. Traders take into account in their estimates of cryptocurrency that transition to PoS in Ethereum Classic is not planned and mining in this system will be profitable for all major mining players.

It’s too early to talk about mass transition of miners from Ethereum to Ethereum Classic. But interest in ETC has clearly emerged. This is evidenced by the local maximum hash rate of Ethereum Classic network. In any case, the vast majority of GPU miners will stay on ETH until its transition to PoS.

Ethereum and Ethereum Classic mining has clear advantages over BTC mining. Because net profits are higher due to lower power costs compared to ASIC equipment, especially during a bear market.

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Is it too late to buy BTC ? Top most annoying questions about cryptocurrency – Crypto-Upvotes

There are several questions about cryptocurrencies and BTC that are popular among newcomers to cryptoindustry. We explain what’s wrong with them and why it’s better not to ask them.

Those wishing to start interacting with cryptocurrencies often ask the same questions on the topic of buying a particular cryptoasset. It is these questions that are practically taboo in many communities professionally dealing with cryptocurrencies.

Considering such uncomfortable questions, as in case of damaging advice, will help to better understand how to do right. And also improve your understanding of the basics of investing and trading cryptocurrencies.

The most popular question: Buy BTC for $20,000 or not ?

Whether to buy BTC at $20,000 or similar questions about other crypto assets is the most popular question. It is impossible for professionals working with blockchain assets to answer such a question in one word or even a few sentences. For a satirical analogy, a fictional situation could be made. In which a person would walk up to a doctor on a street and ask if they should take a cough syrup. Without having proper information about an individual’s situation and some analysis of all available data. This doctor would not be able to answer yes or no to such a question.

Exactly the same situation for crypto experts and traders sounds questions about whether, for example, to buy ETH at $1,000. To answer such a question, a specialist will need to know a lot of information regarding the situation of a “new investor”. Does this new investor already own cryptocurrencies. If so, at what prices he bought. And is he familiar with the basic principles of investing and money management. Does he know all the risks of any crypto investments. Whether this investor is planning a short-term position or an investment in a long-term position and many other questions.

In order to correctly assess the situation and allocate the right share in the portfolio to a new asset for this investor. It is also desirable for a crypto expert to know the total amount of already existing and potentially possible crypto portfolio.

As you can see from the nature of questions, a conversation like this definitely won’t fit into a few sentences. This kind of communication also implies a certain level of trust between people. Which should be based on a mutually beneficial contract, or a friendly or family relationship.

Next popular question: Which project will go to the moon?

The next category of questions is requests for evaluation of certain investment ideas. Unfortunately, a lot of users are often ready to invest all 100% of their deposits in one project. Most often it is a new project advertised by marketers. And they don’t have even one reliable sector in their crypto portfolio – BTC, ETH, BNB, ADA, SOL, DOT and others.

Can a crypto expert definitely answer questions about investment attractiveness of this or that project? He can, but a detailed answer will definitely take more time. Than a conversation over a cup of coffee and will be more like an audit service – due diligence. Which includes drawing up an objective vision of an object of investment. Assessment of investment risks, a complex study of project activities and a complex check of crypto-market.

All of above mentioned applies to classic investing as well. However, in addition to these points, blockchain due diligence will also include research into where best to store crypto assets. As well as studying the issues of passive income through stacking. Or other similar mechanisms, if a long-term investment is planned.

Let’s make a conclusion

Having considered the most popular questions, we can conclude. That in most cases, if a person asking a question has a serious intention to start investing in cryptocurrency. He will need to take enough time to educate himself in this matter. Or take advantage of a paid consultation from a crypto specialist. It is also worth noting that professionals working with digital assets like to get new information from any source. Therefore, they will treat any question better if they add some interesting fact to it. Or their own observations on the market situation, made on the basis of their own research.

Another reason why traders and analysts do not like to give advice. It is hidden in the fact that any advice must be able to be realized. A newcomer receiving even an accurate signal to buy can do otherwise. And a simple situation for an expert will be catastrophic for a newcomer. Because of excessive manipulation of leverage. Or due to incorrectly set stop-loss and take-profit.

So, recommendation to buy BTC or other crypto asset at a certain price can lead to a lot of negative consequences. And a newcomer will then start accusing his failure of advice provided by a crypto-expert. If price goes up, but just a little. Then newcomers will say that they have not gained enough money. If price goes up, but not immediately, they will say that they could have bought cheaper. Even more predictable will be the reaction of an unprepared cryptocurrency buyer to long-term price moves below entry point before the start of growth. By the time growth starts, new trader will already sell everything at a loss. Therefore, our Crypto-Upvotes experts recommend to study everything carefully by yourself. And contact only professional cryptocurrency traders.

 

 

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Are we very close to BTC growth? In what case Bitcoin will continue to grow – Crypto-Upvotes experts

Our experts told what marks should reach price of BTC to continue recovery.

Last weekend, bitcoin continued to grow and by Monday morning passed $22,300. And on July 18, BTC is trading at $22,200, up 3% on Monday. And for one week – by 8.7%.

Incomplete week from July 11 to July 15 was not easy. In the first half of the week the pair BTC/USDT declined to $18,900. The fall began on July 10 and intensified on Monday amid a sell-off in US stocks. Investors were withdrawing money before release of important inflation data and beginning of II quarter reporting season in USA. Also, fall was due to increased number of Covid-19 cases in China.

On Wednesday, the situation on crypto market stabilized after multidirectional fluctuations. Sharp fluctuations were caused by the report on inflation in the USA for June. Buyers were able to defend the $20,000 level and close a day at $20,234. US inflation data raised fears that Fed could raise key interest rates by 100 basis points this month.

After the statistics were released, S&P500 and Nasdaq indices declined, but recouped some of their losses. The market did not collapse as two Fed officials said they were in favor of a 75 basis point rate increase in July. This reduced chances of a more aggressive move on the latest inflation data. Market is ready for a 75 basis point increase.

On Thursday, BTC/USDT recovered to $20,900. On Friday, the price recovered to $21 thousand following US indices. During this day situation did not change.

Market is controlled by sellers. BTC hashrate fell 27% to 159.41 EH/s due to the shutdown of miners in Texas. For miners and market, this is a bearish signal. Investors still fear a collapse of BTC to $10, 000-$13,000 range.

Our Crypto-Upvotes experts made a technical analysis to beat a bear market after reaching price of $22,000. Buyers need to pass a level of $23,500. Than faster it will be passed, the more probability of recovery to $26,500 is higher.

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