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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

A $3.7 Billion Behemoth Considering Ethereum, ETH Prices Responding

Dalmas Ngetich
Dalmas Ngetich
6 years ago
2 mins read
technical analysis ethereum

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  • Ethereum (ETH) up 5.9 percent
  • Ubisoft considering building and creating a decentralized market place on Ethereum

In a direct boost for Ethereum, Ubisoft is considering building on the platform. That follows Bitwage decision to support ETH. Reflecting on this development, ETH is up 5.9 percent in 24 hours.

Ethereum Price Analysis

Fundamentals

Building is a mark of progress, and Ethereum is pretty good at that. Evolving after launching five years ago, the team is resolute in their roadmap. After Homestead, Ethereum is on track, and within the next three years or so, Vitalik’s creation would be running full throttle.

Once Serenity is activated, the network would be scalable, secure with staking features. Backed by widespread adoption and developers fortifying the platform, patching any vulnerability, Bitwage is confident of Ether (ETH), the native currency of Ethereum, and will offer support.

Serving more than 30,000 employees, Bitwage is a payments startup that helps companies pay their workers using cryptocurrencies. Through Bitwage, individuals can receive their portion of salaries in cryptocurrencies via a “faster, cheaper international invoices with direct bank and wallet deposits.”

According to CEO Jonathan Chester, Bitwage aims to close a “financial loop.” Currently, they process more than $2.5 million in monthly volumes by providing two unique services in direct deposit and team wages as part of their payroll services.

Meanwhile, reports have it that Ubisoft, a gaming development company, is developing game features-and possibly a decentralized marketplace, in Ethereum. As per Le Chos:

“The idea is to give a digital existence on the blockchain to the “items” (accessories) available in video games; content that publishers monetize. Ubisoft is considering working on the blockchain Ethereum, which allows operating this kind of operation.”

Candlestick Arrangement

Ethereum ETH

Up 5.9 percent in 24 hours with a market cap of $26,897 million, ETH bulls are steadfast. Although there is a tinge of weakness as prices consolidate above $230, the odds of more upsides are high.

To that end, there is a window for risk-off, aggressive traders to buy the dips in smaller time frames. The trade plan will apply as long as prices are trading above $230, confirming buyers of May.

Despite shrinking participation days after the correction of late May spilling over to the first week of June, rejection of lower prices on June 10th is massive. Trading volumes may be low.

However, this could build the base for rallies above $290 and $300. Once that prints, ETH could rally to $400, breaking free from this momentum sapping consolidation.

Technical Indicator

Anchoring this plan is May 30th candlestick. Extensive with high trading volumes, it marks the May 2019 peak of $290. Therefore, unless otherwise there is a rally above $290 (or a drop below $230) with an uptick in participation, eclipsing 410k, bears could take over.

Chart courtesy of Trading View. Image Courtesy of Shutterstock

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Dalmas Ngetich
Dalmas Ngetich

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.

Read more

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.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
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