Cryptocurrencies

Ethereum (ETH) at $ 439 on August 14, 2020

Ethereum (ETH) continues its course, boosted by a booming DeFi and supported by a consolidation of its fundamentals. This hike does not spare Vitalik Buterin a slap in the face, who should have known that silence is golden, especially when it comes to attacking digital gold. This week’s impromptu contest also did not go unnoticed: at least the winner put the record straight.


Return to sender for Buterin

TheEther opened the day of August 7, 2020 at 395 USD; it is trading at $ 439 as of this writing. Another bullish week for theEther which is currently registering 7.85% gains over the period.

The week was also marked by a Vitalik Buterin caught up with its old attacks on the high transaction fees of Bitcoin (BTC), in December 2017. Vitalik Buterin said at the time that transaction fees should not exceed $ 0.05 per transaction.

Ethereum’s transaction fees have skyrocketed as its hashrate hit a new ATH. According to data from CoinMetrics, these fees reached a new historic ATH of $ 6.87 million on August 12, 2020. Average transaction fees on the network reached $ 2.81 at one point.

CoinMetric ATH Ether ETH transaction fees

Source : Image via Twitter

The challenge of the week and a bit of technique

The week was also marked by the attack on Pierre Rochard and D’Anthony Pompliano against Ethereum : the latter indicated that it was impossible to know the amount ofEthereum in circulation – hence the advantage of a certain Bitcoin with a limited offer.

Developers ETH tried to calculate the number ofEthereum on the stairs ; the winner of this challenge was a developer of MakerDAO, Marc-André Dumas, which was awarded 1 million satoshis.

The daily and weekly RSI (14) of theETH are currently at the 70 and 80 level indicating a ETH now overbought. TheEther should therefore experience a decline in the following days.

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Ethereum 2.0, with its Proof of Staking, would be the solution to this explosion in transaction fees. When will crypto personalities learn about humility and the value of silence? Winning today, you’ll lose tomorrow so better keep your criticisms to yourself. Ether is making people happy with the current explosion in its course. We are waiting for the backlash because yes, there is usually one that traps unsuspecting traders and investors.

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