Ethereum began the year on a positive note, reaching a high of $1,634 on January 20. The cryptocurrency’s price is currently worth $1,621 up 4.50% in the past 24 hours. Ethereum has seen a lot of support from its community and individual investors as well as from major venture capital firms.
The ETH/USD pair opened up at $1,5660 on January 20th and continued to go up for the rest of the day reaching a maximum value of $1,603 and minimum value of $1,544 before closing out on January 20th at a price of $1,564.
These are three reasons why ETH may rise in January:
The Ethereum blockchain will undergo its next planned update, Shanghai Upgrade, in March 2023. The upgrade will facilitate the gradual removal of Staked ETH, which has been on the Beacon Chain for more than two years. However, it won’t address the problems with gas fees or enhance smart contracts.
Ethereum's Shanghai upgrade is due in March 2023, enabling withdrawals from the beacon chain.
This allows ETH currently staked in ETH2.0 validators to be unstaked and withdrawn.
Here's Arkham's primer on Liquid Staking Derivatives, and what we can see happening on-chain pic.twitter.com/moQG9Jjtbb
— Arkham (@ArkhamIntel) January 10, 2023
ETH traders can unstake their coins and send them over to the Beacon Chain as of the anticipated update. Ethereum was also being scaled via sharding. As a result, another scaling is possible if the Shanghai upgrade will complete successfully. These improvements will increase the value of ETH/USD
Soulbound Credit Score System
On January 17, the first Ethereum Virtual Machine (EVM), Masa Finance, announced the first soulbound identity mechanism for the Ethereum mainnet. The platform will make it easier to create soulbound tokens for Know Your Customer (KYC) verification, credit scores, and other Ethereum use cases.
Masa Finance launches soulbound Web3 identity protocol for Ethereum
According to the developers, the soulbound credit score system uses over 10,000 data points to determine a Web3 user’s creditworthiness. pic.twitter.com/QEAUrHw3aR
— Mr Legend Crypto (@mrlegendcrypto) January 18, 2023
MEX seeks to address issues by introducing something new – decentralization. SBT will be the center of everything that’s happening in Masa’s system and MEX seeks to provide the solution.
You can create tokens on Ethereum with the project introducing this new protocol. This will ultimately benefit all users, especially those looking to secure their investments. These are a few of the many benefits that come with it.
Ethereum Network Developments
On January 18, a member of the Ethereum Name Service (ENS) DAO, a decentralized autonomous organization, proposed a governance model. According to the current plan, 10,000 ether (ETH) would be liquidated to pay for running expenses over the next two years. The proposal said that even if ENS produces protocol income in ETH, the DAO is vulnerable because of its high exposure to a sole volatile asset.
On January 19, Messari tweeted about a recent collaboration between ENS and Coinbase to expand the platform’s support for human-readable cb.id domains. The partnership would make it possible for anybody with an Ethereum wallet to create an NFT instead of their alphanumeric blockchain address.
Get Ahead of The Curve: A Guide To Coin Presales And What You Need To Know
Some investors are investing in early-stage cryptocurrency offerings and it’s a smart move to do so. Investing during this period helps you to get a big chunk of the cryptocurrency before they gain in value.
Meta Masters Guild (MEMAG)
Meta Masters Guild (MEMAG), a brand-new mobile gaming guild, is creating an ecosystem for top-notch gaming and recognizing community members for their achievements and participation. Furthermore, the network is working to change the P2E environment by providing entertaining games that attract users to keep using the platform.
This ecosystem’s foundation is around the native token MEMAG, which is currently in stage 2 of its presale. There are nine days left before the price of a MEMAG token increases from its current $0.01. The tokens that investors buy now will increase in value during the presale.
#MEMAGFAM, we're making waves!
We've raised over $700K!
⏰ Don't miss out on Stage 2 of our presale. Grab $MEMAG now and be a part of the revolution!
— Meta Masters Guild (@MEMAGgames) January 20, 2023
Additionally, the network is holding a giveaway in which one lucky winner will get $100,000 worth of tokens to celebrate the growth of the MEMAG community and the continuous success of their presale. You must complete the tasks outlined on the official website to participate in the Giveaway and boost your chances of winning.
Fight Out (FHGT)
Fight Out (FHGT), a new cryptocurrency initiative introduced this year, provides a unique opportunity to profit while utilizing a cutting-edge Move-to-Earn (M2E) technique. M2E is a revolutionary technique that promotes and rewards physical exercise.
The platform’s Fighting Fit theme increases interest in its coin, FGHT. The platform promotes a type of fitness that has a purpose and builds on the general concept of functional strength. It will be quite helpful in attracting new customers.
Huge milestone #FightOutCrew!
We have just raised over $3M in our stage 1 presale!
⏰ Only 5 days left until the stage 2 price starts increasing! ⏰
— Fight Out (@FightOut_) January 18, 2023
Investors have three days left to purchase tokens at the minimum presale price of 0.0166 USDT, according to the FightOut website. When the presale closes on March 31, the price will increase gradually, reaching a maximum of 0.0333 USDT. FGHT will list at 0.0333 on centralized cryptocurrency exchanges (CEX) in the first week of April. Additionally, it already has listings on BitForex and LBank Exchange.
C Charge (CCHG)
C+Charge is creating a holistic Peer-to-Peer (P2P) payment system for electric vehicle charging stations. It uses blockchain technology. Each user will receive a CCHG utility token, which they can use to pay for EV charging using their electronic wallet.
The network will also entice users to adopt a greener lifestyle by awarding them NFT-based carbon credits. 20% of the nation’s EV chargers are now part of the network thanks to collaborations with Flowcarbon and Perfect Solutions Turkey. Moreover, the first CEX launch will happen on March 31, 2023.
C+Charge’s charging station partners support not only electric cars but also other forms of #EVs, such as bikes, scooters, buses, and even trucks
Grab some $CCHG whilst you still can
— C+Charge (@C_Charge_Token) January 20, 2023
CCHG is currently priced at ($0.013) and has already raised $343,260 from its investors to date. The company saw a significant increase in user engagement, causing its token value to expand by the end of this year
Fight Out - Next 100x Move to Earn Crypto
- Backed by LBank Labs, Transak
- Earn Rewards for Working Out
- Level Up and Compete in the Metaverse
- Presale Live Now - $4M+ Raised
- Real-World Community, Gym Chain