Ethereum Need Developers Now Than Never, ETH Surging, Up 32.1%

Dalmas Ngetich

Last Updated: June 11, 2024 5:31 pm

3 mins read

sleepwalking, technical analysis ethereum

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Ethereum (ETH) bulls vibrant; prices surge 32.1 percent
Serenity and similar hard forks demand developers

Developers are crucial for any open source blockchain project. Ethereum may be the leader, but they still have to retain them. The network’s reliance is more pronounced now as they race towards Serenity. Meeting these milestones demand developer participation. If not, the platform will fizzle out even with lucrative bounty program in place. Presently, ETH bulls are steadfast, solid above $300 and rallying 32.1 percent from last week’s close.

Ethereum Price Analysis

Fundamentals

There are many proposals with the express objective of enhancing the Ethereum network. From Homestead, Metropolis and later Serenity, the developer community is active. So active is Ethereum source code improvement that it eclipses that of Bitcoin and other high throughput platforms as Tron and EOS.

Lead developers provide leadership. Afri Schoedon was one. Abruptly quitting early this year because of a Meme, his departure opened a can of worms. Ethereum maximalists insist that he was sabotaging Ethereum’s development and promoting third-party scaling solutions of which Polkadot is one of the many.

However, there is more to this other than the superficial allegations of Afri was hamstringing Ethereum’s development. Dependence on individuals and crowning them as kings is a problem. It brings about centralization, an antithesis for blockchain foundation. Instead, there are options like bounty programs.

Ethereum has one. Through it, there is community development. EIP forwarding is a communal activity and made better by exchanges like Topkie designed for Bounty Stakes trading. It gets better. As diverse as the Ethereum ecosystem is, traders have a chance to exchange them for other high reward tokens via the exchange.

Such is critical, especially in days ahead when Ethereum prepares to smoothly transition to Serenity.

Candlestick Arrangement

Currently, ETH is on a roll, adding 32.1 percent week-to-date. Trailing BTC, which is galloping and lifting sentiment across the board, ETH is technically undervalued. As a result, there is an opportunity for traders to capitalize on this by buying the dips in smaller time frames.

Note that ETH is trading within a bullish breakout pattern against the USD. Revealing the strength of underlying momentum are wide-ranging bull candlesticks banding along the upper Bollinger Band (BB). It is a classic hint of participation.

Therefore, to reiterate previous assertions, buyers are in the lead. Thus, every low is a ramping opportunity with targets at $400.

Technical Indicators

Leading this trade plan is June 21st trade plan. Not only did it thrust prices above $290 and $300 but behind it is high participation of 265k against 133k. As prices surge, trading volumes will likely increase in response while bulls increase their ETH allocations.

Chart courtesy of Trading View. Image Courtesy of Shutterstock

Dalmas Ngetich

Dalmas, a seasoned crypto reporter, brings a unique perspective to the industry. His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape.

His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto.
The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance.

His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry.

Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion.

Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers.

DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations.
Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language.

Dalmas is here to help make the tech easy to understand and digestible, even for beginners.
The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential.
This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting.

Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature.

When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills.
You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.