Ethereum (ETH) has reclaimed the $4,000 level for the first time since December 2021, marking a significant milestone in its ongoing bull run.
This promising rally comes as the overall crypto market appears to be continuing its positive momentum on Monday morning.
Potentially boosting the bullishness further is the hype around Green Bitcoinâs (GBTC) ICO, which has now raised over $3 million in funding.
Ethereumâs rally past $4,000 appears technically backed and driven by a flurry of trading activity.
The tokenâs momentum indicators, like the RSI and MACD, have been flashing bullish over the past week as buying pressure intensifies.
More than $22 billion in ETH volume has occurred on major exchanges in the past 24 hours â a staggering 82% spike from the previous day.
This heightened liquidity fueled ETHâs breakout as bulls aggressively absorbed sell-side action.
On-chain data shows that the uptrend has triggered over $24 million in liquidations from overleveraged ETH shorts on derivatives exchanges.
These forced buybacks have only compounded ETHâs rise.
The decisive break above $4,000 has also triggered a new wave of buying, with several pundits now eyeing $4,200 as the next upside target.
With ETH now just 21% away from its all-time high, a new peak could be in its crosshairs.
While technical factors are fueling Ethereumâs breakout, there may also be a strong fundamental undercurrent pushing price higher â excitement around the Dencun upgrade.
For those unaware, Dencun is one of the most significant updates mapped out for Ethereum as it continues its evolution.
Scheduled to activate on March 13, Dencun will lay the groundwork for scaling Ethereum through proto-danksharding and better integrating layer-2 rollup solutions.
In simpler terms, Dencun aims to drastically reduce fees and increase capacity on Ethereum by making it cheaper for rollups like Arbitrum to handle large amounts of off-chain data.
This paves the way for these layer-2 networks to support millions of users efficiently.
If successful, the implications of this upgrade are massive.
Dencun could finally transform Ethereum into the globally accessible platform for decentralized applications (dApps) that its core developers have long envisioned.
DeFi, NFTs, gaming, and microtransactions will become more attractive on Ethereum after Dencun â which is leading to growing investor optimism about ETHâs price prospects.
Due to this, the ETH price has surged in anticipation and breached $4,000 for the first time in over two years.
While Ethereumâs rise captures the spotlight, a new crypto project is also turning heads â Green Bitcoin.
This eco-conscious token has drawn massive attention to its ongoing ICO by combining two trending investment narratives: environmental sustainability and Bitcoin price predictions.
Unlike energy-intensive Proof-of-Work (PoW) blockchains, Green Bitcoin reduces its carbon footprint by using Ethereumâs more efficient Proof-of-Stake (PoS) consensus.
The projectâs whitepaper claims GBTC is 10,000 times more eco-friendly than traditional Bitcoin mining to verify transactions.
However, Green Bitcoinâs key innovation goes far beyond sustainability.
It introduces a first-of-its-kind âPredict-to-Earnâ mechanic that allows users to stake their tokens and earn rewards by accurately forecasting Bitcoinâs price movements.
This gamified model taps into the recent craze for real-money crypto prediction markets and Bitcoinâs inherent volatility.
The developers have already allocated more than 5.8 million GBTC â over a quarter of the total supply â to incentivize staking and prediction rewards.
With high APYs also on offer just for holding GBTC long-term, itâs easy to see why the project is drawing so much attention.
Green Bitcoinâs presale ICO has already topped $3 million and appears to be accelerating daily as rumors about future exchange listings begin to circulate.
As more people become interested in sustainable crypto alternatives, Green Bitcoin could well become a an interesting project to watch.
Visit Green Bitcoin Presale
Disclaimer: The above article is sponsored content; itâs written by a third party. CryptoPotato doesnât endorse or assume responsibility for the content, advertising, products, quality, accuracy, or other materials on this page. Nothing in it should be construed as financial advice. Readers are strongly advised to verify the information independently and carefully before engaging with any company or project mentioned and do their own research. Investing in cryptocurrencies carries a risk of capital loss, and readers are also advised to consult a professional before making any decisions that may or may not be based on the above-sponsored content.
The token Green Bitcoin (GBTC) has no affiliation and is not associated in any shape or form with Grayscaleâs Bitcoin Trust.
Readers are also advised to read CryptoPotatoâs full disclaimer.
The post Ethereum Price Hits $4k While the Green Bitcoin ICO Just Raised $3m appeared first on CryptoPotato.
This promising rally comes as the overall crypto market appears to be continuing its positive momentum on Monday morning.
Potentially boosting the bullishness further is the hype around Green Bitcoinâs (GBTC) ICO, which has now raised over $3 million in funding.
Ethereum Smashes $4,000 as Technicals & Short Squeeze Trigger Rally
Ethereumâs rally past $4,000 appears technically backed and driven by a flurry of trading activity.
The tokenâs momentum indicators, like the RSI and MACD, have been flashing bullish over the past week as buying pressure intensifies.
More than $22 billion in ETH volume has occurred on major exchanges in the past 24 hours â a staggering 82% spike from the previous day.
This heightened liquidity fueled ETHâs breakout as bulls aggressively absorbed sell-side action.
On-chain data shows that the uptrend has triggered over $24 million in liquidations from overleveraged ETH shorts on derivatives exchanges.
These forced buybacks have only compounded ETHâs rise.
The decisive break above $4,000 has also triggered a new wave of buying, with several pundits now eyeing $4,200 as the next upside target.
With ETH now just 21% away from its all-time high, a new peak could be in its crosshairs.
Anticipation Builds for Ethereumâs Major Dencun Upgrade
While technical factors are fueling Ethereumâs breakout, there may also be a strong fundamental undercurrent pushing price higher â excitement around the Dencun upgrade.
For those unaware, Dencun is one of the most significant updates mapped out for Ethereum as it continues its evolution.
Scheduled to activate on March 13, Dencun will lay the groundwork for scaling Ethereum through proto-danksharding and better integrating layer-2 rollup solutions.
In simpler terms, Dencun aims to drastically reduce fees and increase capacity on Ethereum by making it cheaper for rollups like Arbitrum to handle large amounts of off-chain data.
This paves the way for these layer-2 networks to support millions of users efficiently.
If successful, the implications of this upgrade are massive.
Dencun could finally transform Ethereum into the globally accessible platform for decentralized applications (dApps) that its core developers have long envisioned.
DeFi, NFTs, gaming, and microtransactions will become more attractive on Ethereum after Dencun â which is leading to growing investor optimism about ETHâs price prospects.
Due to this, the ETH price has surged in anticipation and breached $4,000 for the first time in over two years.
Green Bitcoin ICO Heats Up with Novel âPredict-to-Earnâ Staking Mechanism
While Ethereumâs rise captures the spotlight, a new crypto project is also turning heads â Green Bitcoin.
This eco-conscious token has drawn massive attention to its ongoing ICO by combining two trending investment narratives: environmental sustainability and Bitcoin price predictions.
Unlike energy-intensive Proof-of-Work (PoW) blockchains, Green Bitcoin reduces its carbon footprint by using Ethereumâs more efficient Proof-of-Stake (PoS) consensus.
The projectâs whitepaper claims GBTC is 10,000 times more eco-friendly than traditional Bitcoin mining to verify transactions.
However, Green Bitcoinâs key innovation goes far beyond sustainability.
It introduces a first-of-its-kind âPredict-to-Earnâ mechanic that allows users to stake their tokens and earn rewards by accurately forecasting Bitcoinâs price movements.
This gamified model taps into the recent craze for real-money crypto prediction markets and Bitcoinâs inherent volatility.
The developers have already allocated more than 5.8 million GBTC â over a quarter of the total supply â to incentivize staking and prediction rewards.
With high APYs also on offer just for holding GBTC long-term, itâs easy to see why the project is drawing so much attention.
Green Bitcoinâs presale ICO has already topped $3 million and appears to be accelerating daily as rumors about future exchange listings begin to circulate.
As more people become interested in sustainable crypto alternatives, Green Bitcoin could well become a an interesting project to watch.
Visit Green Bitcoin Presale
Disclaimer: The above article is sponsored content; itâs written by a third party. CryptoPotato doesnât endorse or assume responsibility for the content, advertising, products, quality, accuracy, or other materials on this page. Nothing in it should be construed as financial advice. Readers are strongly advised to verify the information independently and carefully before engaging with any company or project mentioned and do their own research. Investing in cryptocurrencies carries a risk of capital loss, and readers are also advised to consult a professional before making any decisions that may or may not be based on the above-sponsored content.
The token Green Bitcoin (GBTC) has no affiliation and is not associated in any shape or form with Grayscaleâs Bitcoin Trust.
Readers are also advised to read CryptoPotatoâs full disclaimer.
The post Ethereum Price Hits $4k While the Green Bitcoin ICO Just Raised $3m appeared first on CryptoPotato.
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