Arslan Butt
The Ethereum crypto price prediction remains optimistic as ETH has crossed above $1,300. Robbin Finance announced the debut of Aevo, an order-book-based options exchange, another structured financial instrument. ETH will be the only cryptocurrency available in the first edition, with Bitcoin and other cryptocurrencies following shortly after.
Ethereum powers the Aevo platform and the Ribbon team developed it from the ground up to provide “deep liquidity at launch” in tandem with market makers who focus on fiver options. Customers can also trade Ethereum options on-chain through Ribbon Finance’s exchange. In turbulent markets, options allow clients to lock in a price for a certain item.
Ribbon Finance’s Theta Vaults employs an automated options strategy similar to this technique to boost consumer returns. Theta Vaults, for example, uses an Ethereum put-selling strategy for all stablecoin USDC deposits into the T-USDC-P-ETH vault.
Today, we’re thrilled to introduce our biggest launch of the year @aevoxyz — Ribbon’s expansion into a next generation options exchange https://t.co/kvB5Y4V4ld
— Ribbon Finance (@ribbonfinance) September 28, 2022
Since this news is considered positive for ETH, we may see a bullish bias among investors, causing Ethereum to rise.
45% of ETH Validators Follow US Sanctions
According to Lachan Feeney, CEO of blockchain development firm Labrys, nearly 45% of all Ethereum blocks currently being validated use MEV-boost relay flash boats and adhere to US restrictions.
“The issue, is that from the validators perspective, these guys are paying them to sort of do this. So if you want to make more money, you just turn this feature on and as a validator, you sort of boost your yield.”
Lachlan Feeney is using Flashbots software to educate validators about the possibility of censorship on the Ethereum network. Feeney stated on September 30 that while reports show that 25% of all blocks authenticated since the Merge complies with US sanctions, this is a misleading signal. However, the true percentage is likely closer to one out of every two blocks.
Feeney mentioned hard censorship as a worst-case scenario, in which the regulation would require nodes to delete any blocks containing these transactions. Censorship was a major concern before The Merge. Coby Moran is the head of Merkle Science’s crypto compliance and forensic division. He speculated that the prohibitive cost of becoming a validator might expose validator nodes among larger crypto firms, which are much more vulnerable to governmental sanctions.
Ethereum Co-Founder: A ‘good chance’ Ethereum Could Overtakes Bitcoin
According to Anthony Di Iorio, one of Ethereum’s co-founders, the hypothetical Flippening, in which Ether outperforms Bitcoin in market value, is likely to occur soon. He believes that if Ethereum continues on its current path, Flippening will occur.
(Kitco News) – The hypothesized Flippening, whereby Ether surpasses Bitcoin's market capitalization, is likely to happen, said Anthony Di Iorio, one of the co-founders of Ethereum (ETH).
Ethereum Co-Founder: A 'good chance' Ethereum overtakes Bitcoin as… https://t.co/vHQ2BsL10K
— goldsheet (@goldsheet) September 29, 2022
According to Di Iorio, the recent Ethereum Merge, which changed the ETH network’s consensus process from proof-of-work to proof-of-stake, raised concerns about centralization.
One of the most significant changes to the ecosystem is a 99 percent reduction in energy use. However, the gas fees or the amount of Ether required to complete an Ethereum transaction remain constant.
Di Iorio predicted that gas prices would fall after Layer 2 enhancements to aid scalability. According to him, Ethereum will receive future enhancements such as danksharding, which will improve Layer 2 functionality and lower gas costs.
Ethereum Crypto Price Prediction:
The ETH/USD opened the day at $1336.13 and fluctuated between $1351.85 and $1321.51. The price of ETH/USD is currently $1,341.64, up 0.34% in a day. CoinMarketCap currently ranks #2, with a live market cap of $163,175,640,382 USD. It has a circulating supply of 122,603,131 ETH coins and no maximum supply.
Accumulating Ethereum below $1,300 could be a profitable strategy in the future, as the price could skyrocket, rewarding investors handsomely.
Ethereum Price Chart – Source: Tradingview
Technically, the ETH/USD pair is trading sideways, within a narrow range of $1,309 to $1,360. The ascending triangle on the 4-hour timeframe indicates the possibility of a bullish trend in Ethereum.
The immediate support for Ethereum is near $1,300, which is extended by the 50-day moving average. A few closing candles above this level can drive an uptrend until $1,360, and a break above this level can potentially expose the ETH price to the $1,404 level.
Increased demand for Ethereum could cut through a triple top resistance level of $1,404 and propel its price to $1,475. On the downside, ETH’s immediate support continues to be $1,309 and $1,270.
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This article was written for Business 2 Community by Arslan Butt.
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