One of the biggest Bitcoin miners says Ethereum will soon cross $5,000

2021-4-20 04:00

The owner of one of the world’s biggest mining pools says Ethereum (ETH) could reach the $5,000 to $6,000 range this bull run, as per Chinese news outlet Wu Blockchain.

Li Tianzhao, the co-founder of mining firm Poolin, said that the impact of the upcoming Ethereum Improvement Proposal (EIP)-1559 on miners would be “almost negligible.”

“In the short term, it is estimated that the income of ETH miners drop by 10% to 20% after EIP-1559, but the entire ecosystem will benefit, the price will be reflected, and miners also get the benefits of MEV,” he stated.

Li Tianzhao, the co-founder of poolin, said that the impact of EIP-1559 on miners is almost negligible. He predicts that ETH may rise to 5000-6000 US dollars in this bull market. pic.twitter.com/dXMbSsfb80

— Wu Blockchain (@WuBlockchain) April 19, 2021

As per markets tool CoinGecko, ETH currently trades at $2,090—meaning a 2.5x increase is on the card for traders who bet on higher prices ahead of the EIP-1559. That would, in turn, peg the network’s market value at over $600 billion, up from its current $244 billion.

Unpacking EIP, MEV, and what they mean for Ethereum

For the uninitiated, “miners” are entities with huge computing power at their disposal who validate and process transactions on a proof-of-work blockchain, such as Ethereum. They receive ‘rewards’ in return (in the form of ETH in this case) for using their resources for the betterment of the network. 

In recent times, ‘gas’ fees—ETH paid by network participants for transacting on Ethereum—have become a concern due to their perennial high pricing. Average network fees top $50, making it nearly unusable for smaller account holders.

The EIP-1559 is a proposal to combat just that. Scheduled this July as part of the ‘London’ hard fork, any ‘gas’ paid by the user would be ‘burned’ out of circulation forever, with only an optional ‘tip’ paid to miners.

But while burning ETH out of circulation forever would mean higher prices, it would also mean potential losses for the miners, who may end up spending more money on their mining rigs (the building, maintenance, labor, etc), than earning rewards.

And that’s where the MEV, short for miner extracted value (MEV), comes in. A new-ish term, this theoretically involves miners taking advantage of transactions by “front-running” trades and turning a profit.

The post One of the biggest Bitcoin miners says Ethereum will soon cross $5,000 appeared first on CryptoSlate.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Miner One token (MIO) íà Currencies.ru

$ 0 (+0.00%)
Îáúåì 24H $0
Èçìåíåèÿ 24h: 0.00 %, 7d: 0.00 %
Cåãîäíÿ L: $0 - H: $0
Êàïèòàëèçàöèÿ $0 Rank 99999
Äîñòóïíî / Âñåãî 0 MIO

says ethereum one biggest cross soon miners

Èñòî÷íèê: cryptoslate.com

says ethereum → Ðåçóëüòàòîâ: 126


It’s “Inevitable,” says WallStreetBets as it Finally Allows Daily Crypto Discussions in its Subreddit

For now, the discussion in the subreddit with 9.8 million members is only limited to three cryptocurrencies, Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE). The post It’s “Inevitable,” says WallStreetBets as it Finally Allows Daily Crypto Discussions in its Subreddit first appeared on BitcoinExchangeGuide.

2021-4-15 17:41


Îñíîâàòåëü SkyBridge Capital âåðèò â ïîòåíöèàë Ethereum

Îñíîâàòåëü è óïðàâëÿþùèé ïàðòíåð èíâåñòèöèîííîé êîìïàíèè SkyBridge Capital Ýíòîíè Ñêàðàìó÷÷è â èíòåðâüþ CNBC ðàññêàçàë, ÷òî åìó íðàâèòñÿ Ethereum (ETH), íî ïîêà îí ñîñðåäîòî÷èòñÿ íà áèòêîèíå. "The technology around #ethereum is going to make it a sticky cryptocurrency and a store of value and something people will transact with," says @Scaramucci on why he likes $ETH. […]

2021-4-7 17:50


Shopify Is “Spiritually Aligned With Decentralizing Opportunity,” Says CEO As He “Dabbles” Into Ethereum & DeFi

The latest person to get an interest in decentralized finance (DeFi) is the chief executive officer of the e-commerce company Shopify, which has more than 1 million users. “Hey DeFi Twitter. What are the commerce-related opportunities that you are most excited about? What role do you want Shopify to play?” tweeted Tobi Lutke on Saturday.

2021-4-3 16:51


Ethereum ‘Is A Better Platform’ Than Bitcoin says Mark Cuban, But Owns Double the BTC

The billionaire investor has “a lot of Ethereum,” too, which he says is “the closest we have to a true currency.” He also said, “Crypto will do to fintech what fintech did to banking.” The post Ethereum ‘Is A Better Platform’ Than Bitcoin says Mark Cuban, But Owns Double the BTC first appeared on BitcoinExchangeGuide.

2021-4-2 17:10


Ôîòî:

DeFi Major Aave (AAVE) to Build on Polygon’s Scalable Layer 2 Platform

The decentralized lending platform built on the Ethereum blockchain, Aave says that it will scale its DeFi platform beyond its blockchain by joining several sidechains, including Polygon.  Aave Addresses Transaction Fees Block space supply today is scarce and limited, leading to the massive expansion of assets on the Ethereum blockchain. Since the “DeFi Summer” ofRead More

2021-4-2 20:00


Analyst says ‘Alt Season’ is here; here's what this could mean for Bitcoin and Ethereum

Two months ago when Bitcoin began a rally in January, the flagship crypto reached new ATHs and remained steady over the $30,000 range for a long time. At the time, data from Longhash revealed that in The post Analyst says ‘Alt Season’ is here; here's what this could mean for Bitcoin and Ethereum appeared first on AMBCrypto.

2021-3-30 01:30


Solana (SOL) is ‘Uniquely Positioned’ to Snatch Market Share from Ethereum & ETH Killers, says VC

With a market cap of $4.3 billion, SOL is the 24th largest crypto asset, trading around $16.12, up 20% in the past 24 hours and 800% YTD. Over the weekend, Sino Global Capital, which invests in blockchain projects, shared their research on why they are bullish on Solana, a high-performance blockchain that was chosen by […] The post Solana (SOL) is ‘Uniquely Positioned’ to Snatch Market Share from Ethereum & ETH Killers, says VC first appeared on BitcoinExchangeGuide.

2021-3-22 17:31


0x and Matcha Becomes the Latest Protocols to Join Binance Smart Chain (BSC) After Alpha as Part of “Multi-Chain Future”

While tokenization will spread to new networks resulting in many successful ecosystems existing in parallel, the 0x team says Ethereum will continue to be the center of DeFi. The post 0x and Matcha Becomes the Latest Protocols to Join Binance Smart Chain (BSC) After Alpha as Part of “Multi-Chain Future” first appeared on BitcoinExchangeGuide.

2021-3-18 15:37


Ôîòî:

Vitalik Buterin says layer-two Ethereum rollups will send the network to the moon

Vitalik Buterin has spoken in detail, of what the envisioned future of the Ethereum network would look like after the roll out of a second layer scaling model. A significant milestone that the creator is confident would be achieved is the Ethereum network scaling by 100x, right after the layer 1 scaling solution is introduced to […]

2021-3-12 10:47


“Ethereum to Scale by 100X in the Coming Months,” Says Vitalik on Optimism Rollups Launch

Ethereum co-founder Vitalik Buterin believes the blockchain is closing in on solving its scalability problem, predicting the Optimistic rollup launch in the coming month. The Optimism rollup is a layer two solution aiming to scale the blockchain by a factor of 100, which will solve the medium-term high gas fees as the community awaits the […] The post “Ethereum to Scale by 100X in the Coming Months,” Says Vitalik on Optimism Rollups Launch first appeared on BitcoinExchangeGuide.

2021-3-11 21:22


BTC Breaks Yet Another Level, $57k, as Elon Musk says, Bitcoin and Ethereum ‘Seem High’

Since making a similar remark on his electric car company, the price of TSLA shares has surged 400%. Tesla CEO is also busy mining his favorite cryptocurrency Dogecoin as a “fun family project.” The post BTC Breaks Yet Another Level, k, as Elon Musk says, Bitcoin and Ethereum ‘Seem High’ first appeared on BitcoinExchangeGuide.

2021-2-21 16:23


Ôîòî:

As Ethereum Soars, Tyler Winklevoss Says It’s Easily Been The Most Undervalued Crypto Lately

Ethereum is in its best form since it broke into the cryptocurrency scene. Ether’s performance this year so far has been nothing but spectacular as it continues to break boundaries. The price of Ether climbed to a new high of $1,543 in the early trading hours of February 3. Hours later, Ether smashed the $1,600 […]

2021-2-6 16:59


äàëüøå åùå 77 íîâîñòåé →

Ïàðòíåðû Currencies.ru

Ðåêëàìà íà Currencies.ru

Ñàìîå ñâåæåå íà Currencies.ru

Ethereum To See Fresh Move Soon? What Futures Data Says

Data shows the Ethereum Open Interest has been trading at relatively low levels recently. Here’s what this could mean for the asset’s price. Ethereum Open Interest Has Been Moving Sideways Since Its Plunge As explained by an analyst in a CryptoQuant Quicktake post, the ETH Open Interest has followed a similar trajectory as the price of the cryptocurrency recently.

Ethereum Fees Now Lowest Since January: Is It A Bottom Signal?

On-chain data shows that Ethereum transaction fees have dropped to their lowest level since January, a sign that a bottom could be close. Ethereum Transfer Fees Has Plunged As Network Has Gone Cold According to data from the on-chain analytics firm Santiment, Ethereum transaction fees have taken a notable hit recently.

These Are The Ethereum Altcoins Witnessing High Whale Interest

Here are the Ethereum-based altcoins that are currently witnessing a high amount of activity from the whales, according to on-chain data. These Ethereum Altcoins Are Seeing High Whale Transactions Right Now In a new post on X, the on-chain analytics firm Santiment has discussed how several Ethereum-based altcoins have been seeing notable whale activity recently.

Ethereum Breaks $2,900, But Watch Out For Futures Overheating

Ethereum has broken beyond the $2,900 level during the past day, but data shows the futures market may be starting to become overheated. Ethereum Has Now Broken Through The $2,900 Level While Bitcoin has slumped to an overall sideways trajectory recently, Ethereum appears to have decided to pick a path of its own, as the second largest asset in the sector has surged almost 4% over the past 24 hours.

Recovery Dim? Ethereum Faces Potential Slide Towards $2,000

Ethereum, the linchpin of the decentralized application ecosystem, finds itself navigating a precarious path this week. The cryptocurrency’s value, having breached the pivotal $2,250 support level, now teeters on the edge of a decisive crossroads, caught between the prospect of a resurgence and the looming threat of a more pronounced downturn.

Buy Low, Sell High? Bitcoin Wobbles As ETF Fever Cool Downs

In a week etched in crypto history, the long-awaited arrival of Bitcoin ETFs in the US sent shockwaves through the market. Yet, despite the monumental achievement, the king of crypto, Bitcoin, took a step back on Saturday, dipping 6% to end the week barely above $43,000.