Ethereum 4 Hour Price Update
Updated August 30, 2020 01:35 AM GMT (09:35 PM EST)
The back and forth price flow continues for Ethereum, which started the current 4 hour candle off at 402.62 US dollars, down 0.15% ($0.6) from the previous 4 hours. Relative to other instruments in the Top Cryptos asset class, Ethereum ranked 2nd since the previous 4 hours in terms of percentage price change.
Ethereum Daily Price Recap
Ethereum came into today up 0.82% ($3.25) from the open of the day prior, marking the 2nd day in a row it has gone up. This move happened on lower volume, as yesterday’s volume was down 12.8% from the day before — and down 60.36% from the same day the week before. Ethereum outperformed all 5 assets in the Top Cryptos asset class since the day prior. Congrats to its holders! Let’s take a look at the daily price chart of Ethereum.
Ethereum Technical Analysis
The first thing we should note is that Ethereum is now close to its 20 day moving averages, which may act as price barrier for the asset. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. It should be noted, though, that a trend in the opposite direction, going down, exists on the 14 day timeframe. This may setup an interesting opportunity for traders looking to buy dips in anticipation of the primary trend resuming. Or to view things another way, note that out of the past 10 days Ethereum’s price has gone up 6 them.
Overheard on Twitter
Over on Twitter, here were the top tweets about Ethereum:
- From AlexCobb_:
Spark is going to be one of those coins that will climb up the ladder overtime, and one day be in the top 10. Litecoin is still in the top 10 and the fucking project has failed and is dead. This is like the next ethereum, but uses XRPL tech I’m HODLing and not selling early
- From RyanSAdams:
Shout out to everyone who stayed in Ethereum when everyone said it was dead in 2018 and 2019Shout out to the protocol devsTo the DeFi buildersTo the ETH holdersTo the writers & educatorsTo those who never left the trenchesThe next 12 months will be good to you
- From crypto_dux:
#Zilliqa to 3000 sats by the end of the year. This company solved scalability through sharding which Ethereum can’t even solve. Because the team don’t shout it from the rooftops it is a incredibly hush secret but wont remain for long. $zil will be the go to tech for big companies
For a longer news piece related to ETH that’s been generating discussion, check out:
Ethereum is a Dark Forest. A horror story. | by Dan Robinson | Aug, 2020 | Medium
When anyone calls the burn function on a Uniswap core contract, the contract measures its own liquidity token balance and burns it, giving the withdrawn tokens to the address specified by the caller….(This concept is also the inspiration for the Dark Forest game on the Ethereum testnet.) In the Ethereum mempool, these apex predators take the form of “arbitrage bots.” Arbitrage bots monitor pending transactions and attempt to exploit profitable opportunities created by them….In addition to burying the call as an internal transaction, we would split the transaction in two: a set transaction that activates our contract, and a get transaction that rescues the funds if the contract has been activated….This would be implemented as follows: If the attacker only tried executing the get transaction, it would revert without calling the burn function….We were hoping that by the time the attacker had executed both the set and get transactions in sequence to spot the internal call to pool.burn and frontrun us, our transactions would already be included….If we had spent more time on the scripts, tweaked the contracts (perhaps changing the Getter contract to do nothing instead of reverting if called before being activated), or even synced our own node to avoid using Infura, we probably would have been able to get the transactions into the same block.