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Ethereum

Buterin specifies the big difference between Ethereum and Bitcoin

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Ethereum’s co-founder, Vitalik Buterin, has long been a proponent of the cryptocurrency community, and in a recent podcast interview, the 27-year old expressed his views on not only his own network but top cryptocurrency Bitcoin and the communities of both the blockchains.

Buterin, who referred to himself as a tech philosopher in the interview, shared that he was bothered about the possibility of the cryptocurrency space walking into a “cultural trap” if the current schools of thought among many proponents of the top networks were not changed.

While in general, he was concerned that many crypto-proponents believed in the crypto-only approach while ignoring other issues in the world. As for Ethereum, the entrepreneur feared that the network’s main cultural mistake could be its exclusivity for the rich. Buterin further stated that this was probably happening due to the high fees that the network charges.

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When asked about whether the flippening would take place in the future, Buterin answered that “it could.” As for why Ethereum could take over the market capitalization of Bitcoin, he said,

“I think the big difference between Ethereum and Bitcoin is that Bitcoin is a platform where the value of the ecosystem comes from the value of the currency, but in Ethereum the value of the currency comes from the value of the ecosystem.”

Since the much-awaited London hard fork took place on the network in June, the network fees issue is also being tackled while improving its transaction payment system. Pointing towards this as scoring another point for Ethereum, Buterin said,

“Especially post-EIP 1559 when you have the fees burnt, that then becomes true in a more direct economic sense.”

At the time of writing, Ethereum’s market cap had flipped Bitcoin’s by almost 40%, while having completely overtaken the top digital asset in terms of transaction count and transaction fee.

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Moving onto the increase in popularity of the decentralized autonomous organizations (DAO), Buterin expressed his enthusiasm for the emerging sector and for retroactive public goods experiments such as Gitcoin DAO and Optimism.

Answering whether DAOs could become the next big thing after the successes of decentralized finance and nonfungible tokens, he said,

“I think DAOs are definitely going to be more important over time… In terms of what’s still missing from the DAO space, I don’t think there’s any one big thing, but more a lot of little things.”

He added,

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“When will be the first time a DAO decides to make a strategy pivot, or when will two DAOs decide to merge? It’s the ability to make big decisions and not just continue incrementally on the same path, that’s something I think we’ll see soon.”

Lastly, the crypto genius also touched upon the NFT craze that has enthused the crypto community and increased the traffic on Ethereum by attracting new demographic sets. He said,

“I think NFTs have been interesting from a cultural perspective because they bring people into Ethereum that have a completely different mindset than DeFi and regular crypto people for example.”

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Solana

Here’s What’s Next for Ethereum, Solana and Elrond, According to Crypto Trader Michaël van de Poppe

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Crypto analyst and trader Michaël van de Poppe is plotting the potential path ahead for smart contract platforms Ethereum and Solana, as well as internet-scale blockchain Elrond.

In a new strategy session, Van de Poppe tells his 135,000 YouTube subscribers that he expects Ethereum (ETH) to respect its immediate resistance at $3,900 one more time before finally breaking out.

“At this stage, we’re facing resistance for the third time assuming that we might be getting a rally like this (move to $4,000) before we correct a little bit and continue running after the corrective move has taken place on Bitcoin and ETH. In that case, probably around $4,000 we can still hit.”

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Source: Van de Poppe/Twitter

Looking at Solana (SOL), the crypto strategist expects the seventh-largest crypto asset to continue its correction before it could restart its uptrend and print a new all-time high at $240.

“At this stage, jumping into Solana is quite tricky, to be honest. If you’re looking at the price action, you want to look at support levels to jump into. So you’re looking at those ranges ($122, $97 and $78) to potentially build your position towards the next run as the assumption is that we most likely are going to get run over it in the next phase of this bull cycle.”

The last coin on the trader’s radar is Elrond against Bitcoin (EGLD/BTC), which he says is poised to print a higher low at its current trading value of 0.0036 BTC, worth $222.87.

“First point of interest hit on EGLD.”

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Source: Van de Poppe/Twitter

According to the trader’s chart, the EGLD/BTC looks ready to ignite a rally to a new all-time at 0.007 BTC ($433.36), marking a potential upside of over 94% from current prices.

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Ethereum

Ethereum Forecast and ETH/USD Analysis October 19, 2021

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Ethereum are trading at 3808 and continue to move as part of the rise and the downtrend channel. The capitalization of the Ethereum cryptocurrency at the time of the publication of the forecast is $ 449,369,451,688. Moving averages indicate a short-term bullish trend for Ethereum. Prices are again testing the area between the signal lines, which indicates pressure from buyers and a potential continuation of the rise in the asset value from the current levels. At the moment, we should expect an attempt to develop a correction in the value of the coin and a test of the resistance level near the area of ​​3655. Where can we expect a rebound and a continuation of the rise in the Ethereum rate with a potential target above 4505.

Ethereum Forecast and ETH/USD Analysis October 19, 2021

An additional signal in favor of the growth of ETH/USD quotes will be a test of the support line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the bullish channel. Cancellation of the option to raise the cryptocurrency will be a fall and a breakdown of the level of 3325. This will indicate a breakdown of the support area and a continued fall in ETH/USD quotes below 2805. With the breakdown of the resistance area and closing of quotes above the level of 4055, we should expect confirmation of the development of a bullish movement in Ethereum.

Ethereum Forecast and ETH/USD Analysis October 19, 2021

Ethereum Forecast and ETH/USD Analysis October 19, 2021 suggests an attempt to correct and test the support area near the level of 3655. Where can we expect a rebound and the continuation of the rise of the ETH/USD cryptocurrency to the area above the level of 4505. An additional signal in favor of the rise of Ethereum will be a test of the line trend on the relative strength index (RSI). Cancellation of the growth option for the digital currency will be a breakdown of the 3325 area. This will indicate a continued fall in the digital currency with a potential target below 2805.

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Bitcoin

Billionaire Mark Cuban Says Bitcoin Is the Best Store of Value but Likes Ethereum More – Here’s Why

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Shark Tank star and billionaire Mark Cuban believes Bitcoin is the best store of value in the market but says he likes Ethereum more.

Cuban tells his 8.5 million followers in a tweetstorm that Bitcoin’s (BTC) biggest advantage is that it has “zero competition” as a store of value (SOV).

“BTC is what it is. The best SOV on the market… [In my opinion], it’s not a cure for any financial system. It’s not a hedge to anything. Its utility will be driven more by lightning [network] than anything, and its value will be driven by supply and demand. Nothing wrong with that. Gold folks do the EXACT same thing… [In my opinion], BTC has become like gold, an SOV that is now a religion.”

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Although Cuban believes that Bitcoin is the top store-of-value asset in the market, he highlights that smart contract platform Ethereum (ETH) and layer-2 (L2) solutions have more utility than BTC. Layer-2 solutions are protocols built on top of blockchains like ETH to increase transactional throughput.

“I like Eth/L2s more, and there is no point arguing the trilemma, halving or inflation. I like it more because I can see an unlimited number of applications that will change the biz/consumer world forever. And to use them you need to buy Eth/L2. BTC doesn’t have that demand-pull.

So when I said bananas have more utility than BTC, but BTC was a better gold than gold, I meant it. The BTC play is not utility unless something unexpected happens with Lightning. Bananas vs ETH? ETH has more utility. Want more proof? Jjust look at the transaction fees for BTC.”

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While Cuban is a big fan of smart contract platforms, he says that in the long run, investors might throw their capital into BTC. The billionaire believes that smart contract platforms are in a struggle to attract decentralized applications and users.

“All the smart contract chains, and really ALL the blockchains are in a DEATH war to win those applications. Many will lose.

That will also be a HUGE WIN for BTC. When multi-billion [dollar] blockchains become near inactive, a lot of people will see BTC and ETH as safe-havens, and the more conservative crypto play will be BTC. The SOV play will accelerate its value. It will be the safe haven of crypto.”

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