Ethereum 2.0: The Future
In the future, Ethereum 2.0 has surged above a major level,
and traders are watching for more gains. Here are the top crypto movers for Monday.
Topics
Bitcoin and Ethereum: The New Kings
Ethereum and the Metaverse
Weekend gain
Bitcoin and Ethereum: The New Kings
Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH), the two most valuable cryptocurrencies in the world,
are both on the rise this morning.
Bitcoin is currently trading above $19,300 while Ethereum has moved above $1,300.
These gains come as institutional investors continue to show interest in cryptocurrencies.
Last week, hedge fund manager Paul Tudor Jones revealed that he has been buying Bitcoin as a way to hedge against inflation.
Jones is just one of many high-profile investors who have become interested in cryptocurrencies in recent months.
The growing interest from institutional investors is helping to drive up demand for both Bitcoin and Ethereum.
With prices moving higher, it seems that there is no stopping these two digital assets at the moment.”
Bitcoin and Ethereum have been on a tear lately, with both cryptocurrencies hitting highs.
Ethereum has surged past $1300 and is now trading at $1340.
This is a major breakthrough for the second-largest cryptocurrency as it continues to close the gap with Bitcoin.
Traders are now eyeing further gains as Ethereum looks poised to continue its uptrend.
The next level of resistance is around $1,800, which could be tested in the coming days if buyers remain in control.
On the downside, support levels are at $1,700 and $1,600 respectively.”
Ethereum and the Metaverse
Joe Lubin, the co-founder of Ethereum and CEO of ConsenSys,
believes that the current state of the metaverse is comparable to the internet circa 1994.
While there are still many technical challenges to overcome,
he is confident that augmented and virtual experiences will eventually become a part of daily life for most people.
After being introduced to Ethereum by Vitalik Buterin.
He was immediately impressed by the potential applications of smart contracts and decided to join the project as a co-founder.
Since then, he has been a driving force behind ConsenSys.
While acknowledging that there are still many challenges facing developers who want to build metaverse applications, Lubin remains optimistic about the future.
He believes that augmented reality (AR) and virtual reality (VR) will eventually become ubiquitous, changing how we interact with each other and our surroundings on a fundamental level.
When it comes to the virtual world, we’ve still got a long way to go, this was the sentiment expressed by ConsenSys CEO Joseph Lubin during a recent interview with CNBC. Lubin’s comments come at a time when some of the biggest companies in the world are taking an unprecedented interest in the metaverse – otherwise known as virtual reality (VR). Facebook, for example, has fully reoriented its efforts towards dominating VR; while Apple and Disney are quietly exploring the space. Even traditional brick-and-mortar brands like Walmart are diving in head-first.
Despite all this activity from mega-corporations and web3-native companies alike, however, VR still has yet to catch on as the accessible, entertaining, and smooth-functioning virtual haven it was initially promised to be. In order for that to happen, Lubin believes we need better technology – specifically around user experience (UX) design – and more investment from both public and private sources.
Weekend gain
The cryptocurrency markets gained over the weekend, with global market capitalization pushing one % higher to US$929.7bn. Ethereum outpaced Bitcoin and has fared particularly well in the past 24 hours with a 2.1% jump to US$1,337, although it has been drawing back in Monday’s early trading hours.
Bitcoin’s price was last seen at $11,162 on the Bitstamp exchange after climbing as high as $11350 earlier in the day – its highest level since September 1st. On Saturday morning (UTC), bitcoin had already surged 5% following news that Chinese President Xi Jinping had endorsed blockchain technology during a speech at a Communist Party meeting. The move sent shockwaves through crypto Twitter and other online communities dedicated to digital assets.
The total cryptocurrency market capitalization stands at around $929 billion at press time – up from just under $920 billion yesterday.