Join Our Telegram channel to stay up to date on breaking news coverage
The Ethereum price is down 2% in the last 24 hours to trade at $2353 as of 11:30 a.m. EST, as its trading volume declined 5% to $27 billion.
The downturn follows a proposal from Ethereum co-founder Vitalik Buterin, who suggests a reduction in the Ethereum blockchain’s complexity. He proposes a more streamlined proof-of-stake (PoS) consensus mechanism that would require fewer signatures, aiming to alleviate the network’s burden and enhance its efficiency.
A PoS simplification proposal: make a design that only requires 8192 signatures per slot (even with SSF), making the consensus implementation considerably simpler and lighter.https://t.co/Z8mK7vZx7g
— vitalik.eth (@VitalikButerin) December 27, 2023
However, this approach has significant technical drawbacks, as sustaining such a large number of validators necessitates processing a substantial volume of signatures—around 28,000 per slot. Buterin highlighted that this imposes a considerable load on the network.
Presently, Ethereum supports an extensive array of validators, approximately 895,000,
Ethereum Price: Ascending Triangle Pattern Signals Bullish Breakout
The Ethereum price has formed an ascending triangle pattern, which indicates a continuation of the bullish trend.
The upward momentum in the market has propelled the price beyond the 50-day and 200-day simple moving averages, confirming the bullish trend and establishing support at short-term levels.
The Relative Strength Index (RSI) also displays a bullish signal as it moves from the midline level of 50 to 62, nearing the overbought threshold of 70.
Ethereum Price: Can Bulls Break Above Ascending Triangle?
Investors anticipate movements above the ascending triangle as they target a potential high of $3500, with expectations set for the first quarter of 2024.
However, a potential downside may occur, allowing bears to influence a decline in price toward the support zone at $2240.
Meanwhile, investors looking for a favourable entry level for ETH may consider yPredict, a low-key AI platform offering lucrative returns in its presale project.
yPredict Closes In On $6 Million, Buy Now Before Launch
yPredict (YPRED) is racing fast towards its $6.5 million goal, as it has raised a whopping $5.95 million. The presale is currently in its final phase, offering you the opportunity to purchase YPRED tokens at a discounted rate of $0.11. This price will rise to $0.12 once the presale achieves its goal and the tokens are launched on major exchanges.
The platform is positioned to utilize artificial intelligence (AI) to generate up-to-the-minute trading signals, conduct sentiment analysis, conduct technical analysis on widely used coins, and aid in identifying chart patterns for specific cryptocurrencies.
🚀 Exciting Announcement Alert! 🚀
Prepare for a mind-bending journey into the future of analytics! 📊✨ We're thrilled to unveil a sneak peek of yPredict's revolutionary Analytics product – the game-changer you've been waiting for! 🌐🔍
🔮 Brace yourselves for an unparalleled… pic.twitter.com/KnjPUV5Dvz
— yPredict.ai (@yPredict_ai) December 28, 2023
Moreover, as an investor, when you stake your tokens, you will receive an impressive quarterly staking reward of 45%. This significantly exceeds the typical annual percentage yields in the industry, which usually range between 5-10%.
In one of his videos, Jacob Bury, a renowned crypto analyst and influencer, features yPredict as an AI token with the substantial potential to achieve a 10X increase upon launch.
To participate in the presale and buy YPRED tokens, visit the official yPredict website. Connect your wallet to swap your ETH or MATIC for YPRED tokens.
Related News
- Where to Buy Presale Crypto: Unlock Exclusive Early Investments Now! 🎉🎉
- Best AI Crypto Coins to Buy – Invest in Artificial Intelligence
- 🚀🤖 Best AI Crypto Coin Projects: Top Picks for 2023 🤑💰
Newest Meme Coin ICO - Wall Street Pepe
- Audited By Coinsult
- Early Access Presale Round
- Private Trading Alpha For $WEPE Army
- Staking Pool - High Dynamic APY
Join Our Telegram channel to stay up to date on breaking news coverage
