SharpLink Joins Ethlabs Nonprofit to Enhance Ethereum Infrastructure

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 1 hour ago

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Stock Price Surge: Shares of SharpLink, Inc. rose 1.43% to close at $5.37 following the company's involvement in launching Ethlabs, a nonprofit aimed at advancing Ethereum research and building infrastructure for institutional deployment, reflecting positive market sentiment towards the initiative.
Nonprofit Formation: Ethlabs was co-founded with funding from SharpLink and several Ethereum supporters, focusing on enhancing Ethereum's technical capabilities, particularly in institutional finance requirements and expanded on-chain operations, marking a significant step in the evolution of the Ethereum ecosystem.
Research Priorities: Ethlabs will prioritize research on accelerating settlement times, enhancing cross-network interoperability, and expanding Ethereum mainnet throughput, improvements that will enable institutions to utilize Ethereum more efficiently and securely, thereby driving its adoption in decentralized finance.
Governance Model: Ethlabs employs a third-party grants administrator to ensure separation between funding sources and research direction, committing to publish quarterly transparency reports and annual independent audits, which enhances its credibility and independence within the Ethereum ecosystem.

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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 6 technical signals, shows that 3 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	1448.827	1551.863	1643.467	1746.503	1838.107	1941.143	2032.747
Fibonacci	1551.863	1626.216	1672.151	1746.503	1820.856	1866.791	1941.143

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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