Ethereum Continues to Lead the Crypto Ecosystem

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 6 days ago

ETH+4.288%

ARB+2.025%

BNB+3.11%

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Leading Development Activity: Ethereum generated 38,400 developer events in the past 30 days, despite a 17.35% decline, still far surpassing BNB Chain's 15,900 events, showcasing its ongoing appeal in decentralized finance.
Stable Contributor Count: With 904 active contributors, Ethereum's number has decreased by 11.89% compared to last month, yet it remains a leader in the industry, reflecting a robust developer community and future innovation potential.
Impact of Glamsterdam Upgrade: The upcoming Glamsterdam upgrade aims to optimize execution efficiency and significantly reduce Layer 2 solution costs, which is expected to further solidify Ethereum's technical dominance, even as overall industry development activity declines.
Industry-Wide Slowdown: All top 10 blockchains have shown a decrease in developer activity, indicating a generalized slowdown across the crypto sector, while Ethereum's stability highlights its importance for future innovation.

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Technical Analysis for ETH

Technical Sentiment Analysis for Ethereum (ETH). As of , Ethereum (ETH) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 2 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for ETH stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, ETH is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Ethereum (ETH) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	993.496	1249.588	1525.816	1781.908	2058.136	2314.228	2590.456
Fibonacci	1249.588	1452.934	1578.562	1781.908	1985.254	2110.882	2314.228

About ETH

Ethereum is a decentralized open-source blockchain system that features its own cryptocurrency, Ether. ETH works as a platform for numerous other cryptocurrencies, as well as for the execution of decentralized smart contracts.Ethereum was first described in a 2013 whitepaper by Vitalik Buterin. Buterin, along with other co-founders, secured funding for the project in an online public crowd sale in the summer of 2014. The project team managed to raise $18.3 million in Bitcoin, and Ethereum’s price in the Initial Coin Offering (ICO) was $0.311, with over 60 million Ether sold. Taking Ethereum’s price now, this puts the return on investment (ROI) at an annualized rate of over 270%, essentially almost quadrupling your investment every year since the summer of 2014.The Ethereum Foundation officially launched the blockchain on July 30, 2015, under the prototype codenamed “Frontier.” Since then, there has been several network updates — “Constantinople” on Feb. 28, 2019, “Istanbul” on Dec. 8, 2019, “Muir Glacier” on Jan. 2, 2020, “Berlin” on April 14, 2021, and most recently on Aug. 5, 2021, the “London” hard fork.Ethereum’s own purported goal is to become a global platform for decentralized applications, allowing users from all over the world to write and run software that is resistant to censorship, downtime and fraud.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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