Ether Prices Reached A Fresh High Today—What’s Next?

Ether prices have been on a tear lately, breaking through $3,200 this morning and then setting a string of fresh highs.

At the time of this writing, the world’s second-largest digital currency by market value was trading above $3,400, according to CoinDesk data.

The cryptocurrency has had a great year thus far, seeing as how it was trading below $750 at the start of 2021, additional CoinDesk figures reveal.

Considering the sharp gains the highly prominent digital asset has experienced lately, several technical analysts offered some perspective on where ether prices might go next.

[Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.]

Short-Term Price Targets

“ETH is going to start moving to $4,000,” said William Noble, the chief technical analyst of research platform Token Metrics.

“It would seem that ETH could move to $4,000, overshoot that level with a spike to $4,300” and then experience a “pause.”

Jason Lau, COO of cryptocurrency exchange OKCoin, offered similar input, providing an upside target of $4,500.


However, he stated that currently, ether was flashing its “highest overbought signal since mid April,” after which it suffered a 20% drop.

Should the digital currency’s price fall back, it should find support between $2,500 and $2,600, said Lau.

Julius de Kempenaer, senior technical analyst at, also weighed in, stating that:

“In the case of Ethereum I am watching the area between $2,600 and $2,700 as first support” as well as the “breakout level at $2,000,” which he described as “more important.”

“Given the uptrend that (re-) gained strength after passing $2,000 I would expect any pullbacks to hold in that $2,600-$2,700 area to set a new higher low confirming the current trend.”

Ether-Bitcoin Ratio

After providing some technical levels, de Kempenaer emphasized that he was closely watching the ratio of ether prices to bitcoin prices.

“The chart of the ETH-BTC ratio shows a massive base that unfolded from mid-2018 until recently when it broke the barrier around 0.04 (The price of ETH expressed in BTC) which capped that ratio for almost three years. We are now trading just shy of 0.06 and a new trend is now emerging,” he stated.

“If BTC would remain at current levels and ETH/BTC were to rise to its next resistance level near 0.085, that would mean a price of $4,900 in USD for ETH,” said de Kempenaer.

Noble also noted that he was watching this ratio, but provided a more bullish assessment for ether.

“If BTC is at $60k, ETH should be trading at $6,000. In our view, the ETH BTC ratio should be around 0.10 at a minimum. The recent bottom in the metric is 0.02 and is currently at 0.056.”

Disclosure: I own some bitcoin, bitcoin cash, litecoin, ether and EOS.


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Bittrex Global to be First Exchange to Integrate DigitalBits Mainnet

[Press Release – Hamilton, Bermuda, 3rd May, 2021]

Bittrex Global also lists esports and gaming focused Zytara dollar (ZUSD) and protocol layer and NFT-centric DigitalBits token

3rd May 2021, Hamilton, Bermuda — Bittrex Global (Bermuda) Ltd. announced today that it will be the first exchange to integrate the DigitalBits blockchain mainnet, and support the DigitalBits ERC-20 token swap. Bittrex Global also recently listed both the Zytara dollar (ZUSD) and DigitalBits (XDB) token on its digital asset exchange.

ZUSD is a stablecoin that allows users to transact instantly, and aims to replace traditional payment methods currently utilized by online gamers and esports enthusiasts. The DigitalBits blockchain supports the tokenization of digital assets, including branded currencies and branded stablecoins. It was recently unveiled that Litemint, a leading NFT and collectibles marketplace, would be among the initial organizations to also integrate the DigitalBits blockchain for the purpose of introducing NFT functionality to the network.

Zytara, led by DigitalBits founder Al Burgio, has been in a rapid growth stage, strategically focused on building the financial infrastructure of tomorrow, today. In partnership with Prime Trust, Zytara launched ZUSD to serve the gaming and esports industry, providing Millennials, Gen Z gamers and esports enthusiasts with a dynamic new alternative to traditional payment solutions.  ZUSD is fully collateralized, with Prime Trust serving as the issuer of ZUSD, and holding 1:1 USD reserves. Following its initial deployment on Ethereum, ZUSD will next be introduced to the DigitalBits blockchain, allowing users to take advantage of the network’s scalability.

Zytara has also launched Zytara Labs, a full-service production company and studio supporting musical artists, actors, gamers, esports teams and other brands with the creation, sale, and marketing of NFTs. The company develops innovative products and platforms that leverage blockchain protocols, such as DigitalBits and Ethereum.

“The gaming, sports and entertainment industries are ideally positioned for stablecoins and NFTs,” said Bittrex Global’s CEO Tom Albright. “The infrastructure required to ensure prizes can be distributed to anyone, anywhere in the world is currently lacking, and Zytara is looking to fill this exciting niche.  Zytara’s ability to attract and support major influencers and brands with innovative NFT campaigns is clearly evident as recently unveiled with their support for the NFT collaboration with the Dole Sunshine Company and renowned artist, David Datuna.”

“We have reached a very exciting stage in the development of digital assets,” said Michael Gord, Managing Director of the XDB Foundation, leading contributor to the DigitalBits ecosystem. “As more mainstream brands and enterprises adopt digital assets, they will require  support to effectively offer blockchain-based services to their customers, whether it be NFTs, loyalty rewards, security, or greater transparency. The DigitalBits ecosystem has attracted a wide array of organizations that are supporting  the use of DigitalBits as an alternative network layer to the current blockchain landscape.”

The DigitalBits blockchain provides a network layer that enables anyone to easily leverage blockchain-based solutions, irrespective of their technical background.  DigitalBits supports lightning fast, borderless transactions, ensuring fungible and non-fungible digital assets can move seamlessly between network participants, anywhere in the world.

Bittrex Global will be hosting a Live Video AMA with DigitalBits and Zytara founder Al Burgio on May 5th at 9:00am EST.

No dates have been announced for the completion of Bittrex Global’s integration of the DigitalBits mainnet and the upcoming token swap.

About Bittrex Global

Bittrex Global has one of the most secure trading platforms and digital wallet infrastructures in the world where customers can access exciting new products.  Built on Bittrex’s cutting-edge technology, Bittrex Global provides a high-level experience for professional and novice customers alike.


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Bitcoin Perfectly Set Up for Leap Towards $100,000, Says Crypto Analyst PlanB

A widely-followed analyst known for being the first to apply the stock-to-flow model (S2F) to Bitcoin says that BTC has just created a perfect setup for a spike up to $100,000.

The S2F, traditionally used in commodities markets like precious metals, compares the price of an asset versus the amount of new supply. Plan B has amassed a massive following with the stunning accuracy of the S2F and the S2FX, a variation of the S2F, which also takes into account gold and silver’s performance to reach a price estimation for Bitcoin.


In a new tweet, Plan B notes that a new colored dot, representing the close of another month on the S2FX model, is slightly down from last month, looking like a potential slingshot upward into the six figures.

“New dot… slightly down after 6 months up… looks like the perfect setup for jump towards $100,000.

April close $57,200

March close $58,782

Feb close $45,240

Jan close $33,141

Dec close $28,992

Nov close $19,700

Oct close $13,816

Sep close $10,778.”

Source: PlanB/Twitter

The pseudonymous trader also says that Bitcoin’s momentum indicator, the relative strength index (RSI), just broke its way above 90.

“Bitcoin monthly RSI 90… so what do you think, 95 soon?”

Source: PlanB/Twitter

According to PlanB, the 2011, 2013, and 2017 bull markets were in full swing when the RSI hit above 95.

PlanB adds the current bull run looks less like the 2017 cycle, and more like the 2013 one which had a considerably more parabolic rally.

Despite Bitcoin’s already impressive performance in 2021, Plan B asserts that the boom cycle of the world’s largest crypto asset by market cap is likely far from over.

“Just to confirm that both S2FX model and on-chain signals indicate we are only halfway into this bull market and nowhere near the top.”

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CryptoPunks Creators Just Launched Meebits, NFT Resales Already Top $3 Million

In brief

  • Larva Labs, the developer behind CryptoPunks, has introduced a new set of randomly generated NFT avatars called Meebits.
  • CryptoPunks represent some of the priciest NFTs ever sold.

Larva Labs, the two-man development team behind the wildly popular CryptoPunks NFT series, has announced a new set of NFTs called Meebits.

Where CryptoPunks were pixelated 2D icons, Meebits are 3D avatars rendered in voxels (pixels with volume—hence, “voxels”). They’re algorithmically generated, and attached to NFTs on the Ethereum blockchain, which means the standard ethical concerns apply. 

With their blocky arms and vaguely cuboid heads, Meebits may remind you of the 3D characters from Minecraft or Roblox. That’s by design, according to a press release. “We think that, just like 8-bit pixel art, the minimalism and accessibility of voxel art will prove timeless and endearing for generations to come,” write the developers. 

Larva Labs is Matt Hall and John Watkinson; they came up with the idea for CryptoPunks in 2017, some months before the CryptoKitties phenomenon. The icons have since become a hot commodity among crypto’s nouveau riche, with some selling for upwards of $7 million. There’s even a Twitter bot dedicated to tracking CryptoPunk transactions.

If you already own one of Larva Labs’ previous NFTs (that includes the studio’s second generative NFT project, Autoglyphs), you can claim a free Meebit for the next seven days. Whichever Meebits aren’t claimed by the end of the week, of the 20,000 total, will be sold directly from the company. So far, these NFTs have already generated 1,120 ETH in sales on the resale market, according to data from OpenSea. That’s more than $3.7 million at today’s prices.

Part of the appeal of CryptoPunks is scarcity: there are only 10,000 total CryptoPunks, but even with double the supply, Meebits are poised for success: one already sold for nearly $675,000 earlier today.


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Yearn Finance Launches New Vault, While YFI Retakes Bullish Momemtum

Popular DeFi protocol Yearn Finance has launched a new product, a yield generator called yvBOOST. Part of its suite of vaults, this product will complement the “Backscratcher” vault and will allow users to earn and boost rewards in the Curve-based token 3CRV.

“Backscratcher” offers rewards in Curve’s, an Ethereum exchange liquidity pool, native token CRV. The vault simplifies the process of obtaining Curve’s additional rewards by locking a portion of the CRV for the users.

That way, all vault participants can benefit from the option of boosting their APY if they lock additional CRV. In addition, they receive Curve DAO management fees. Their newest product, yvBOOST, offers compound long exposure with Curve’s native token:

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

With yvBOOST the 3Crv earned from the yveCRV vault is sold to CRV and deposited back into the vault, increasing yvBOOST’s balance of yveCRV (…). while simultaneously increasing the boost of all Yearn vaults with Curve Finance strategies over time.

Yearn Finance has launched a yvBOOST-ETH pool on decentralized exchange SushiSwap to create liquidity for their new vault, as the team behind the protocol reveals. This pool offers a higher return on SUSHI-based rewards.

As a bonus, the protocol has launched two additional vaults, the crvFRAX, and crvLUSD. These products have a 2% management fee and 20% performance fee, but users can claim their tokens without additional cost.

Yearn Finance The Second Highest Earning In DeFi

According to Yearn Finance’s Q1 earnings report, the protocol’s key primary driver for their earnings before interest, taxes, depreciation, and amortization (EBITDA), a metric used to measure financial performance, is their yVault. The report indicates:

Our YFI vault saw a large increase in revenue for March as we encouraged depositors to migrate to the v2 vault resulting in a higher TVL generating more revenue.

However, treasury assets-based products are becoming an important source of revenue. Yearn Finance’s team expects this trend to continue in the coming quarters. Ryan Watkins, a researcher at Messari, stated the following on Yearn Finance’s Q1 report:

Last month’s revenues annualized puts Yearn at $50mm+ in revenue. $60mm+ if you add treasury farming activities and assume they’re constant from March. All organic. No token incentives. Will also note that this puts Yearn at the second highest earning protocol in DeFi behind MakerDAO adjusted for token incentives.

Yearn Finance YFI YFIUSDT

At the same time, Yearn Finance’s governance token YFI has seen significant gains in the lower and higher timeframes. The 30-day chart records the highest gains with 37.2%, at the time of writing, and the 7-day chart closely following with 35.7%. At the time of writing, YFI trades at $53.983 with a 10.7% in the daily chart.

Yearn Finance YFI USDT


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What CME Micro Futures Mean for the Bitcoin Market

In brief

  • As Bitcoin’s price has massively increased, Bitcoin futures are now too expensive for many.
  • CME Group, which launched Bitcoin futures in 2017, now offers micro versions of those contracts.

Derivates marketplace Chicago Mercantile Exchange (CME) Group today launched micro Bitcoin futures at one tenth the size of one Bitcoin. The new offering aims to attract priced-out retail investors and flexibility-seeking institutional investors.

What it boils down to is that Bitcoin futures contracts are now available to investors at $6,660 in today’s market—a far cry from $290,000, the worth of non-micro Bitcoin futures.

“When you look at the price of Bitcoin and how much it’s appreciated over the last several months, current future contracts have become prohibitively expensive” Tim McCourt, CME Group global head of equity index and alternative investment products, told Decrypt.

Futures contracts are obligations on traders to buy or sell an asset at a certain price on a given future date. If you’re planning on buying 1 BTC at today’s price of $56,660 in a couple of months, then you can lock in that price through a futures contract. That’s good for hedgers.

But futures contracts are also good for speculators. They can also be bought and sold like any market-traded asset, allowing bets on the price difference between the contract price at the time of signing and the real market price at that given future date. The price difference makes a sweet profit for the arbitrageur who makes a correct bet.

To play the futures game though, you have to be able to afford them. The original CME Bitcoin futures contract, launched in December 2017, is worth five Bitcoin—not a huge deal then, but it’s around $290,000 today. In contrast, a micro Bitcoin future at one-tenth of one Bitcoin comes down to $6,000.

Micro contracts appeal to retail traders priced out by the original offering, but it’s not just about affordability. McCourt said there’s also been interest from institutional users—including crypto-native trading firms—who wanted more wiggle room in their trading strategies. They no longer have to invest in $290,000 increments when there’s an option of $6,000.

But if Bitcoin’s price keeps climbing even higher, the current micro Bitcoin contracts could also price out a lot of people in the future. CME would consider offering differently-sized contracts if that were to happen, said McCourt.

In February, CME launched Ethereum futures, and last month recorded 5,500 contracts trading. Ethereum futures contract worth 50 ETH seemed like the right size, “even a relatively small contract,” said McCourt, but Ethereum’s price has now more than quintupled. Each contract’s now worth $115,000 in today’s price. It’s still small potatoes compared to Bitcoin futures of course, but micro Ethereum futures might also be on the horizon, if Ethereum’s meteoric price rise continues.

Today’s launch of micro Bitcoin futures saw the equivalent of 6,241 Bitcoin trade, which McCourt described as a hugely successful first day.

In an earnings call last March, CME senior managing director Sean Tully said the marketplace generated $4.7 million in revenue from Bitcoin futures offering in this year’s first quarter. Micro futures may add a major spike to that figure, if today’s success is any indication of their future.


The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.


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Range-bound Bitcoin price opens the door for altcoins to move higher

Ether (ETH) took charge as a new month begins and the second-largest cryptocurrency by market capitalization rallied to a new all-time high at $3,338. This has many analysts shouting out that a new ‘altcoin season’ has commenced. Meanwhile, Bitcoin  (BTC) price is continuing to meet resistance around the $56,000 to $58,000 level. 

Data from Cointelegraph Markets and TradingView shows that since dropping to a low of $2,160 on April 25, the price of Ether has rallied 54% to a new record high at $3,324 on May 3 as Monday’s 12% spike lifted the top altcoin above the $3,300 level for the first time in history.

ETH/USDT 4-hour chart. Source: TradingView

While a majority of crypto traders are celebrating Ether’s price breakout, which has helped elevate project co-founder Vitalik Buterin to the crypto billionaire club, bearish traders are en route to heavy losses as nearly every one of the 76,000 put option contracts that are set to expire on April 7 will become worthless if Ether price manages to stay above $3,100.

And it’s not just Ether that has been performing well as of late. In the past 2 months, the altcoin market as a whole has seen its value increase 119% and flipped the 2017 peak into a new support level.

Ether HODL rates rise

According to Glassnode, an on-chain analytics firm,  the amount of Ether being held long term has been on the rise since late 2020 and this could be a contributing factor propelling the multi-month rally.

Ethereum HODL waves. Source: Glassnode

The chart above showing “Ethereum HODL waves” indicates that “coins appear to be maturing from 1-week to over 6-months old since late 2020 (blue arrows),” with the “proportion of coins aged 1-month to 6-months progressively increasing in thickness suggesting HODLing coins accumulated in the early bull market remains a favored strategy.”

Glassnode also pointed out that a large volume of Ether has been removed from exchange wallets in 2021, with 10 instances of withdrawals in excess of 200k Ether per day taking place in just 4 months as institutional demand and decentralized finance (DeFi) use grows.

Ethereum supply in smart contracts vs. balance on exchanges. Source: Glassnode

As seen on the chart above, the amount of Ether held on exchanges has been on the decline since September 2020 which coincided with a noticeable increase in the amount of Ether held in decentralized finance smart contracts.

Currently, the amount of Ether locked in smart contracts is outpacing the amount held in centralized exchange reserves.

Altcoins outpace Bitcoin for now

With Bitcoin still struggling to secure a daily close above $58,000, altcoins continue to make the case for an emerging altseason.

Daily cryptocurrency market performance. Source: Coin360

Waves (WAVES) was the breakout star of the day with its token price surging 41% to a record high at $36.41. Ethereum Classic (ETC) also rallied 15% to a new all-time high at $50.90.

After rallying 17.84% to $5,777 in the past 24-hrs, Maker (MKR) is now the top-ranked decentralized finance (DeFi) protocol with a total value locked of $10.92 trillion.

The overall cryptocurrency market cap now stands at $2.29 trillion and Bitcoin’s dominance rate is 46.6%.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Every investment and trading move involves risk, you should conduct your own research when making a decision.