Here’s What’s in Store for Ethereum (ETH) This Month, According to Crypto Analyst Justin Bennett

Closely followed crypto analyst Justin Bennett is unveiling what he thinks is in store for Ethereum this January as ETH continues its downtrend.

In a new strategy session, Bennett says that he’s looking to scoop up ETH around the $3,000 level, currently about 4% away from current prices.

According to the crypto strategist, Ethereum must reclaim a crucial level to have a shot at resuming its macro bull trend.

“As long as ETH is below $4,000 you have to be a little bit careful. If we do see Etheruem over the coming weeks and months reclaim this area up here at $4,000 on a weekly and monthly closing basis, then yes, I do think we’re going to a continuation of the trend that we saw in 2021.”

The analyst also takes a look at Ethereum in its Bitcoin pair (ETH/BTC). Bennett says that ETH/BTC may be breaking out of a bullish triangle, playing out a smaller version of what it did between 2017 and 2020.

Source: Justin Bennett/YouTube

The crypto analyst says that ETH/BTC could be ready to start a long-term rally to the 0.18 BTC ($7,388) if it manages to cleanly hold 0.075  BTC($3,077) as support.

“Over the longer term, I would expect this market to trend higher up here [0.18 BTC] to this area. Of course, it all comes down to 0.075 in the short term. So we want to see this market stay above that in order to see Ethereum continue to outperform Bitcoin over the short term.”

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A Billionaire Investor Has Just Called The Bitcoin Bottom After A $1 Trillion Crypto Price Crash Tanked Ethereum, BNB, Solana, Cardano And XRP

Bitcoin and cryptocurrency prices have dropped sharply over the last week, with the combined crypto market now down around $1 trillion from its November peak (even as Wall Street giant Goldman Sachs issued a huge bitcoin price prediction).

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The bitcoin price has fallen around 10% since the beginning of 2022, crashing towards $40,000 from highs of almost $70,000 late last year. Meanwhile, other major cryptocurrencies ethereum, Binance’s BNB, solana, cardano and XRP have also crashed back, all losing double-digit percentages this past week.

Now, as traders desperately hunt for signs the sell-off has ended, bitcoin and crypto billionaire Mike Novogratz said he doesn’t expect bitcoin to fall any further—calling the price bottom just under bitcoin’s lows this week of $40,680.

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“On the charts, $38,000, $40,000 feels like where we should bottom,” Novogratz, the chief executive of crypto investment management company Galaxy Digital, told CNBC, pointing to “tremendous amount of institutional demand on the sidelines.”

“I know big institutions who are going through their process to put positions on and so I think they’re gonna see those as attractive levels to buy,” said Novogratz, a Wall Street veteran that jumped headfirst into bitcoin and crypto in 2017 after stints at Fortress and Goldman Sachs.

Wall Street giants and institutional investors have flooded into cryptocurrency markets since 2020 as digital assets grab trader attention. The bitcoin price has risen around 400% over the last two years, with smaller cryptocurrencies such as ethereum and solana making even greater gains.

However, bitcoin and cryptocurrencies remain highly volatile, putting off many big investors despite some predicting bitcoin will win market share from gold as a store of value over the next few years.

The bitcoin price dropped sharply this week after the Federal Reserve released the minutes of its December meeting in which officials discussed the possibility of earlier and faster interest rate hikes and shrinking the Fed’s huge balance sheet in order to rein in soaring inflation.

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The bitcoin price fell to lows of just over $40,000 per bitcoin this week before rebounding and has now climbed to over $42,000. The ethereum price has also bounced off its lows this week, helping the price of its smaller rivals Binance’s BNB, solana, and cardano to rally. Ripple’s XRP also moved higher.

“We’ve had this philosophy that the Fed’s gonna keep rates low forever and even now, they’re going to raise rates to 2% over two years gradually and continue to buy Treasuries for a while,” Novogratz said. “So we’re in this liquidity bubble.”

Novogratz also warned that if the Fed fails to get a handle on inflation, the situation could spiral out of control.

“If inflation doesn’t come down like the Fed thinks, all bets are off,” he said.


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Hedera Hashgraph Partnered With UK Air Traffic Company to Track Drones

The United Kingdom government backed Hedera and Neuron Innovation as the duo conducted a trial on the drone data collation and storage using a public ledger consensus.

Hedera Network Used to Track Drones

Neuron Innovation, a London-based aviation company, has conducted a drone data collection trial sponsored by the government of the United Kingdom. The test was made possible using a public ledger consensus protocol developed by Hedera.

The collaboration between Hedera and Neuron enabled the collation, storage, and ordering of millions of data points connected to drone flights. The essence of aviation as a service protocol is to allow drones to join existing air traffic seamlessly.

Speaking on the effects and prospects of the trial, the CEO of Neuron Innovation, Niall Greenwood, said:

“We have made unmanned, long-distance drone travel possible using safety-critical aviation infrastructure. Each flight creates millions of data points, which no other public ledger has been fast enough to log and correctly order.”

The trial, which was first conducted at Port Montrose, Scotland, in April 2021, covered drones owned by commercial, military, and government entities used for long-distance drone flights. The second trial was held at Cranfield University in Bedfordshire in October 2021.


Tracking and Recording Unmanned Flight Data on Blockchain

The collaboration between the two parties had Neuron’s sensors record flight paths of the drone and their location data. At the same time, the Hedera consensus played a critical role in creating time-stamps of the data collected from each drone and having them recorded on a decentralized public ledger.

This is one of several drone-related programs backed by the UK Department for Business, Energy, and Industrial Strategy. The idea is to develop a fool-proof process of tracking and following drones as well as other unmanned aircraft after their flights have taken them off view.

Hedera Hashgraph is a blockchain network that works on the proof of stake consensus. Its Hedera Consensus Service uses proof of concept to determine the feasibility of the occurrence of a concept.


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5 NFT marketplaces that could topple OpenSea in 2022

OpenSea has been the dominant decentralized platform for users looking to mint, buy, sell and trade nonfungible tokens (NFTs). Serving more as an NFT aggregator than a gallery, OpenSea locked in $3.25 billion in volume for December 2021 alone, according to data from Dune Analytics and from December 2020 to December 2021, the total volume increased by a whopping 90,968%.

No stranger to contention and criticism, OpenSea has had its fair share of perils and pitfalls. Most notably, its former head of product, Nate Chastain, found using insider information to front-run and profit from selling the platform’s front page NFTs.

Adding to the overall feeling of distrust, the community felt devalued after newly appointed chief financial officer (CFO) Brian Roberts hinted at going public. However, he quickly reaffirmed that OpenSea has no intention to go public anytime soon.

OpenSea might be the top NFT marketplace by transaction volumes at the moment, but in 2022, there are bound to be a handful of competitors aiming to unseat the giant.

Here are five NFT marketplaces that could potentially shake the top contender from its spot in the coming months ahead. 

Coinbase NFT

Coinbase seems to be leaning on elements of centralization as the primary driver for mass adoption. Tapping into the growing popularity of NFTs, Coinbase rivals OpenSea in launching its NFT marketplace, Coinbase NFT. According to reports, the waitlist has exceeded 1.1 million, which is more than OpenSea’s total active user-base alone. 

Monthly active traders at OpenSea. Source: Dune Analytics

Announcing its launch of Coinbase NFT was a signal that captured the increasing value NFTs could capture as digital collectibles continue to go mainstream. Understanding how NFTs bridge culture and commerce, Coinbase NFT is likely to shake up the order of things. Meanwhile, the project has established partnerships with collections like World of Women, DeadFellaz and Lazy Lions. 

While the marketplace has not yet launched, its waitlist alone suggests that many investors are either eager to gain exposure to the technology for the first time or want alternatives to what they already use.

Based on a statement made by Coinbase, Coinbase NFT will be peer-to-peer (P2P) “…with an intuitive design built on top of a decentralized marketplace.” Initially following the ERC-21 and ERC-1155 standards, the product also has plans to support multi-chains in the future. 

Coinbase NFT will primarily function as a marketplace, but the company has hinted that it will also serve as a place to “foster connections.” To date, Coinbase operates in over 100 countries and reports over 73 million active users while Coinbase’s clients quarterly trade $327 billion in volume, proving that there is a decent amount of liquidity in circulation.

More than the amount of volume trading, Coinbase touts its robust user experience (UX) and seamless user interface (UI) design that is streamlined and user-friendly. Even though many take to Twitter and complain about OpenSea’s UX/UI design, many other platforms come with barriers to entry, whereas OpenSea doesn’t. 


Contrary to Coinbase NFT, FTX marketplace launched in October with a small collection of Solana-based NFTs, and it expanded its collection toward those on the Ethereum blockchain. Unlike OpenSea and Coinbase NFT, FTX NFTs is not a P2P platform, meaning it is centralized and custodial, whereby users’ data is recorded and stored on its particular network. This means users and collectors forgo ownership in some sense. 

The implications of it being a centralized platform are that the platform tends to enforce less autonomous perks to its owners and more restrictions and limitations due to securities laws concerns. Unlike OpenSea where users have full autonomy over their digital assets up until the sale, FTX NFTs implements bidding mechanisms. ​​As Brett Harrison, President FTX.US explained in a statement: “By not requiring gas for doing things like bids, we’re going to see a lot more price action and price discovery on the platform, and we hope that in general attracts liquidity,” 

Its law-abiding ways caused such a strong influence across the Solana NFT collections that many had to revoke their formerly promised royalties since FTX NFTs announced it no longer would support projects granting its owners such a perk. 

The consequence came as a result of United States regulatory concerns. Projects on the Ethereum network are also vetted to make sure they are abiding by securities laws and to ensure they are not counterfeit knockoffs. 

As such, OpenSea retains its value as it maintains quite the breadth of NFT collections.

Regardless of its minor hiccups, the marketplace has received attention and undercuts its rival in fee structure. FTX NFTs has a fee structure of 2%, while Coinbase’s is 2.5%. 

The platform also doesn’t seem to be dismissive to users eventually using non-custodial wallets, but its primary focus is value in accessibility.


Long before OpenSea pumped its way to the top, Rarible was putting up monthly trading volumes higher than its counterpart. Despite opening its platform to the community with its governance token RARI — something OpenSea users have persistently been anticipating — Rarible has not been able to sustain the lead it once had over OpenSea. 

In November, the platform’s total value in volume was 4% higher than in October, averaging an estimated $18.2 million. However, its monthly total volume pales in comparison to OpenSea’s, given its daily volume averages at least five times higher.

To Rarible’s benefit, much like FTX NFTs marketplace, it understands the benefit of multi-chain strategic partnering. Rarible has already launched its support of NFTs on the Flow and Tezos blockchain, and there are plans to support Solana and Polygon in the near future. 

Monthly volume (primary vs secondary) sales. Source: Dune Analytics

With its decentralized ethos and its multi-chain support of NFTs, Rarible could become a serious contender in 2022.


Zora presents itself as a champion for Web 3.0 and decentralization as it touts its completely “on-chain” permissionless platform. Since decentralized autonomous organizations (DAOs) tend to gravitate toward these principles, the platform holds its value in historical purchases like PleasrDAOs $4 million purchase of the original doge-meme NFT. 

Zora has a zero-fee structure and centers most of its efforts on being the cornerstone permissionless protocol. Many crypto pundits are attracted to the idea of artists and creators having more autonomy and ownership over their creations. If these remain pertinent concerns in 2022, it’s possible that Zora could see an influx of new users.

Magic Eden 

Magic Eden is currently the top NFT marketplace on the Solana network and according to DappRadar it is ranked among the top ten NFT marketplaces with $267.14 million since its launch in mid-September 2021. 

The number of unique wallets has rebounded and has been steadily increasing in the last two months making it a strong contender to OpenSea. Although it’s important to note that users are known to hold more than one wallet address, perhaps suggesting that there could be fewer unique active users.

OpenSea on-chain data. Source: DappRadar

Low transaction fees at 2% give the platform a competitive edge when compared to other marketplaces and, like FTX NFTs, listing is free for users. As shown below, the number of transactions on Magic Eden often doubles or even triples the amount of transactions occurring on OpenSea.

Magic Eden on-chain data. Source: DappRadar

Although Magic Eden had a higher amount of transactions, the amount per transaction is less than on OpenSea. According to DappRadar, Magic Eden has amassed over 4.5 million transactions within the last 30 days while OpenSea has processed less than half that figure at 1.7 million, yet it has a little over five times the total volume of Magic Eden. 

As the pace of NFTs has been set and digital collectibles continue to go mainstream, 2022 could see a larger demographic whose preferences may not align with OpenSea. By valuing accessibility, regulation and a better user experiences, these five NFT marketplaces are strong contenders to take their spot on top.

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.