$ETH
Ethereum's switch to its proof-of-stake-(PoS-) powered Ethereum 2.0 chain is edging closer to reality, with recent updates to its blockchain resulting in the issuance of Ether (ETH) becoming deflationary.
Recent upgrades have resulted in deflationary issuance of ETH, where the burning of a portion of transaction fees has surpassed the issuance of new ETH through mining. Some in the industry didn't expect this to happen before the network upgrades to Ethereum 2 (Eth2).
It's an important factor that is envisaged to drive the value of the underlying cryptocurrency upward in the months and years to come.
Ethereum has created a beautiful cup and handle pattern on the daily over the past six months which resulted in a break of all time highs.
Price is now retesting previous resistance to see if it will hold as support.
If so, I wouldn’t be surprised if we rocket from here.
Keep this on your watchlist.
- Factor Four
Recent upgrades have resulted in deflationary issuance of ETH, where the burning of a portion of transaction fees has surpassed the issuance of new ETH through mining. Some in the industry didn't expect this to happen before the network upgrades to Ethereum 2 (Eth2).
It's an important factor that is envisaged to drive the value of the underlying cryptocurrency upward in the months and years to come.
Ethereum has created a beautiful cup and handle pattern on the daily over the past six months which resulted in a break of all time highs.
Price is now retesting previous resistance to see if it will hold as support.
If so, I wouldn’t be surprised if we rocket from here.
Keep this on your watchlist.
- Factor Four
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.