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Ethereum (ETH) Price remains below $2,000 despite a resounding 15% rise in the global cryptocurrency market cap (TOTAL CAP). Are institutional investors overlooking Ethereum amid the Crypto ETF rave?

On-chain data and general market sentiment suggest that crypto derivates traders appear to be favoring Bitcoin ETF over ETH alternatives. How could this impact ETH price?

Fluctuating user activity is one of the key factors that has slowed down the ETH price rally in recent weeks. According to IntoTheBlock, ETH has not been able to maintain steady growth in Transaction Volume despite renewed interest among institutional investors.

The chart below shows how ETH Transaction Volume fluctuated wildly in June 2023. At the monthly peak on June 5, 3.98 million ETH were transferred among Ethereum users. Since then, it formed a series of zig-zag patterns before it reached 1.86 million ETH again on June 28.

Transaction Volume provides a picture of real-time changes in economic activity carried out by network participants. When it rises, it puts upward pressure on the price of the underlying token.

Over 20% of Ethereums circulating supply is currently staked in smart contracts. Most investors are more interested in generating passive income from their ETH than utilizing it in daily transactions.

This has played a pivotal role in ETH price stagnation in recent weeks. If the Transaction Volume remains in a downtrend, ETH price could face more headwinds in the coming weeks.

Furthermore, Ethereum also appears to be losing ground to Bitcoin in the battle for investors attention. Reports show that institutional investors are showing a preference for Bitcoin ETF over similar ETH funds.

On-chain data corroborate this report, as ETH Social Volume has dropped significantly in recent weeks.

As of June 29, ETH Social Volume is down 86% to 1,655 from its recent high of 11,959 on June 7.

Social Volume tracks the volume of mentions of a project across relevant crypto media channels. When it drops significantly, as seen above, it indicates that investors are paying less attention.

In summary, fluctuating transaction volumes and lag in social sentiment could see ETH prices continue to move at a relatively slow pace.

Given the aforementioned factors, the ETH price will likely consolidate around $1,900 in the coming days. As seen below, 2.3 million investors that bought 1.52 million ETH at the average price of $1,908 could slow down the rally.

If ETH scales that zone, it will face another major resistance around the $2,000 mark. At that zone, 660,000 that bought 26 million ETH could look to book some profit.

Still, ETH could fall into a downtrend if the price slips below $1,800. However, the buy-wall from 3.39 million investors that bought 11 million ETH at the average price of $1,803 could offer support.

But failure to hold that support line could otherwise trigger a further drop toward $1,700.

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions.

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Ethereum Price Remains Below $2,000 Despite Bitcoin Rally - BeInCrypto

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Newer and better cryptocurrencies get added to the list every day, making crypto sports betting more enthralling and rewarding for betting enthusiasts.

Cryptocurrencies like Bitcoin, Ethereum, Litecoin, and Dogecoin have slowly made their way to the world of sports betting, and it is being widely accepted as a payment method in thousands of crypto casinos and sportsbook sites. Cryptocurrencies are changing the entire landscape of online gambling and sports betting, making it much easier for gamblers and bettors to place bets and get payouts in the fastest and cheapest way possible.

Crypto sports betting sites do not need any third party to manage or hold funds, making the transactions more secure, affordable, and faster than traditional payment methods. Additionally, crypto sports betting sites offer anonymity and privacy to the bettors, which can be essential factors for those who want to keep their betting activities private.

In this article, we will see how crypto sports betting is not only about Bitcoin, the first crypto introduced in the betting industry, but how crypto will shape this sector as the best alternative to other payment methods.

The future of crypto sports betting is shining brighter than ever with the introduction of newer cryptocurrencies and the improvement of blockchain technology. Numerous top crypto sports betting sites allow punters to bet on their favorite sporting events using a wide range of tokens. The entire process of creating an account, depositing funds, and withdrawing winnings using crypto is much more secure, efficient, and faster than any payment method in the world.

One of the greatest benefits of Bitcoin sports betting is that it is highly convenient, allowing players to place their bets anywhere in the world, anytime. It is an excellent option for those residing in countries where gambling or betting is illegal but would like to bet on their favorite teams. Another reason why the future of crypto sports betting is inevitably great lies in the use of blockchain technology which eliminates all risks of identity theft and fraud.

Overall, crypto sports betting has excellent advantages over traditional payment methods, and it is incredibly convenient, secure, fast, and inexpensive to use crypto for betting.

The first ever cryptocurrency that disrupted the entire online betting industry was Bitcoin which provided a secure, decentralized, and transparent way of making transactions. It allowed bettors to make payments without intermediaries like payment processes or banks. It offered faster, less costly, and simpler transactions than any fiat-based payment method. Bitcoin also enhanced the anonymity and privacy of online betting since the transactions are decentralized and pseudonymous, which allows players to wager or bet anonymously.

Building around the success of Bitcoin, many new cryptocurrencies entered the online betting industry and gave rise to thousands of crypto sports betting sites, all providing distinctive features and addressing the limitations of Bitcoin. One such example is Ethereum, which pioneered the concept of blockchain technology and smart contracts. The self-executing smart contracts operate on the ETH blockchain and are used to allow transactions on crypto sports betting platforms without using any intermediary. Crypto or Bitcoin sports betting has created many new opportunities for sports bettors, including decentralized gambling, betting, and prediction markets where punters can participate without any centralized operator.

Bitcoin (BTC) and Ethereum (ETH) are the most popular digital currencies within and outside the sports betting industry. However, other choices are available to betting enthusiasts, such as Ripple (XRP). Ripple is a relatively new currency that focuses on delivering low-cost and fast cross-border transactions on crypto sports betting sites. The distinct consensus algorithm of Ripple, along with its distribution network, makes it one of the best choices for crypto sportsbooks who want to streamline their payment processes and simultaneously reduce transaction costs. The technology offered by Ripple also has great potential to streamline, secure, and accelerate international transactions within the crypto sports betting industry, thus benefiting both sportsbooks and players.

Litecoin (LTC) is also a major crypto, popularly known as silver to Bitcoins gold, that provides faster transactions than Bitcoin and is being used by crypto and Bitcoin sports betting sites at an exponential rate. Other newer cryptocurrencies, such as EOS, DASH, and Zcash, are being utilized in the online betting space, offering special features, including enhanced privacy, increased scalability, and quicker transactions.

If you are interested in betting on sports using crypto like Bitcoin, be sure to check out the bitcoin sportsbook available in your country. This is a great way to enjoy the benefits of cryptocurrencies, such as security, anonymity, and fast transactions, while also betting on your favorite sports teams and players.

In conclusion, with developments and advancements in blockchain technology and crypto, the sports betting industry is undergoing great transformation, shaping the industrys future in creative and thrilling ways. However, the explosion of Bitcoin sports betting sites also means that bookmakers and players should remain cautious about the risks involved in this new technology. The value of digital assets continues to be highly volatile, and despite the exponential growth, the regulatory and legal landscape still remains uncertain. Nevertheless, the rise of the crypto sports betting industry grants excitement and opportunity for all parties involved in the sporting world.

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Beyond Bitcoin: The diversity of cryptocurrencies in sports betting - BusinessCloud

The emergence of blockchain technology has transformed the concept of data transparency, introducing an unparalleled level of openness in financial systems. This groundbreaking development has sparked widespread speculation about blockchains potential to establish a new benchmark for transparency. Through the utilisation of a block explorer, network participants gain the ability to explore and retrieve information pertaining to the assets and transactions linked to public addresses within the blockchain.

In the realm of cybersecurity, this transparency enables decentralised threat data to be readily available. While some argue that comprehensive analyses and reports provide sufficient confidence in the performance of security solutions, there is a potential for bias since these reports are often commissioned and paid for by the companies themselves. However, with blockchain, the inherent transparency eliminates such biases, ensuring a more impartial and trustworthy system. Let us shed some light on the blockchain transparency of three cryptos: Bitcoin (BTC), Cardano (ADA) and the new meme coin on the scene DogeMiyagi (MIYAGI).

Bitcoin (BTC) stands out with its unmatched level of transparency, which may be unfamiliar territory for many individuals. Every transaction conducted with Bitcoin is publicly visible, traceable, and permanently documented within the Bitcoin network.Bitcoin addresses serve as the sole information used to identify the allocation and destination of Bitcoins. These addresses are generated privately by users wallets; once an address is utilised, it becomes linked to the transaction history it has been involved in.

Consequently, anyone can view the balance and transaction details of any given address. Since users typically need to disclose their identity to receive services or goods, Bitcoin addresses cannot provide complete anonymity. It is important to note that while something may not be currently traceable within the blockchain, its traceability could potentially be established in the future due to the immutability of the blockchain.

While the Cardano blockchain ensures public visibility of transactions and addresses, it incorporates privacy-enhancing features through its smart contract platform, Plutus. By leveraging Plutus, users can implement privacy-preserving smart contracts, enabling secure transactions while safeguarding sensitive information.

Cardanos unique approach to transparency and privacy grants users greater control over their data. By integrating privacy features, Cardano aims to protect sensitive information while upholding the advantages of transparency. Users have the flexibility to engage in public transactions or utilise privacy-preserving mechanisms, offering an optimal balance between privacy and security.

The emphasis on privacy and transparency in Cardano fosters user trust and fortifies the networks overall resilience. Users can rely on the blockchains integrity while having the freedom to safeguard their privacy when required. This equilibrium between transparency and privacy strengthens the Cardano ecosystem, enhancing its credibility and appeal to individuals and enterprises alike.

DogeMiyagi (MIYAGI), a rising altcoin in the cryptocurrency market, has gained significant popularity due to its unique blend of martial arts inspiration, community unity, and transparency. Built on the Ethereum blockchain, this decentralised cryptocurrency aims to provide a secure and transparent investment option for traders.

DogeMiyagi has emerged as a popular option among traders due to its strong emphasis on security and speed. The platform leverages the reliable Proof-of-Stake (POS) mechanism to safeguard user data and funds, instilling confidence in investors regarding the safety of their assets. With this robust security measure in place, traders can trade with peace of mind knowing that their investments are well-protected.

In addition to security, DogeMiyagi offers impressive transaction speeds. The efficient POS mechanism allows for swift payment processing, enabling users to conduct transactions quickly and smoothly. This combination of security, speed, and a playful dog-themed concept has contributed to the growing popularity of DogeMiyagi as a favoured meme coin among investors.

DogeMiyagi:

Website: https://dogemiyagi.com

Twitter: https://twitter.com/_Dogemiyagi_

Telegram: https://t.me/dogemiyagi

DISCLAIMER: The financial and crypto market information provided on NewsWatchTV.com is intended for informational purposes only and should not be construed as investment advice. Readers are encouraged to conduct their own thorough research and consult with financial experts before making any investment decisions. By choosing to continue reading hereinafter, you acknowledge and expressly undertake/guarantee that NewsWatchTV.com shall be absolved from any and all potential legal action or enforceable claims arising from the information presented.

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Blockchain Transparency in Bitcoin, Cardano and DogeMiyagi - NewsWatch

Bitcoin Gold has unique features that make it an intriguing platform for smart contract applications. In this article, we delve into the exciting world of Bitcoin Gold and its potential synergy with smart contracts. Try Immediate Fortune if you really want considerable profits from this market in a short time.

One of the main advantages of integrating smart contracts on the Bitcoin Gold network is the enhanced security it offers. Bitcoin Gold utilizes the Equihash algorithm, which is resistant to specialized mining hardware known as ASICs. This characteristic ensures a more decentralized mining process and reduces the risk of centralization, enhancing the security of smart contracts executed on the network.

Additionally, Bitcoin Gold's robust and well-established infrastructure provides a solid foundation for the implementation of smart contracts. Its active and dedicated developer community continually works to improve the platform and expand its capabilities. Leveraging this existing infrastructure, and integrating smart contracts becomes a natural progression, enabling developers to leverage the security and reliability of Bitcoin Gold while exploring new possibilities.

Another crucial aspect to consider is the potential for interoperability between Bitcoin Gold and other blockchain networks. Cross-chain interoperability allows smart contracts executed on Bitcoin Gold to interact with other blockchain platforms, enabling a seamless exchange of assets and data. This interoperability can open up a wide range of applications, including decentralized finance (DeFi) protocols, decentralized exchanges, and cross-border transactions.

Furthermore, integrating smart contracts on the Bitcoin Gold network can unlock opportunities for the tokenization of real-world assets. By creating digital representations of physical assets, such as real estate or commodities, on the Bitcoin Gold blockchain, these assets can be easily traded, fractionalized, and managed in a transparent and secure manner.

However, it is important to acknowledge that implementing smart contracts on Bitcoin Gold also comes with certain challenges. Bitcoin Gold's primary focus has been on being a store of value and a medium of exchange, rather than a smart contract platform. As a result, modifications and upgrades to the Bitcoin Gold protocol may be necessary to fully support the complexities of smart contract execution.

One crucial aspect is the development of a specialized programming language and development framework for smart contracts on Bitcoin Gold. Ethereum, for example, uses Solidity as its primary programming language. Similarly, Bitcoin Gold would require a language specifically designed for writing smart contracts that can run on its network. This language should be user-friendly, secure, and efficient to facilitate the widespread adoption and development of smart contracts on the platform.

Additionally, the availability of development tools and documentation plays a vital role in enabling developers to create, deploy, and test smart contracts on Bitcoin Gold. A comprehensive development toolkit, including integrated development environments (IDEs), debugging tools, and deployment frameworks, would simplify the process and attract more developers to build on the platform. Clear and extensive documentation, along with code examples and tutorials, would further enhance the accessibility and understanding of smart contract development on Bitcoin Gold.

Interoperability with other blockchain networks is another critical consideration. Smart contracts executed on Bitcoin Gold should be able to interact seamlessly with contracts and protocols on other blockchain platforms. This requires the establishment of standardized communication protocols and cross-chain bridges that enable the transfer of assets, data, and instructions between different blockchain networks. Interoperability opens up opportunities for cross-chain decentralized applications (DApps) and broader ecosystem integration.

Scalability is a fundamental concern when it comes to executing smart contracts on any blockchain network, including Bitcoin Gold. As smart contracts typically involve multiple computations and interactions, the network must handle a significant number of transactions simultaneously. To address scalability challenges, Bitcoin Gold may need to implement solutions like layer-two scaling techniques, such as state channels or sidechains, which can offload some of the computational burdens from the main chain while maintaining security and decentralization.

Another critical aspect is security. Smart contracts are subject to vulnerabilities, such as coding errors or malicious attacks, which can result in financial losses or exploitation of the network. Bitcoin Gold should prioritize security measures, including rigorous auditing, testing frameworks, and best practices for secure smart contract development. Implementing formal verification methods, which mathematically prove the correctness of smart contract code, can further enhance security and mitigate potential risks.

Integrating smart contracts onto the Bitcoin Gold network presents a promising frontier for blockchain technology. With enhanced security, existing infrastructure, interoperability, and potential for asset tokenization, Bitcoin Gold offers unique possibilities for decentralized applications. While technical considerations and challenges exist, exploring smart contracts on Bitcoin Gold can shape a future where programmable money and innovative applications thrive.

(Disclaimer: Devdiscourse's journalists were not involved in the production of this article. The facts and opinions appearing in the article do not reflect the views of Devdiscourse and Devdiscourse does not claim any responsibility for the same.)

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Unraveling the Potential of Smart Contracts in Bitcoin Gold - Devdiscourse

The Bitcoin blockchain is a complex system of varying protocols. Two protocols, Stacks and Ordinals, are often mistaken for one another or lumped in as the same thing. However, there are some key differences between Stacks and Ordinals that you should be aware of.

Smart contracts are a key component of decentralized finance (DeFi). These programs can automatically execute an agreement so long as a specific set of pre-written conditions are fulfilled. Smart contracts remove the need for third parties or intermediaries and add to DeFi's trustless model.

Smart contracts began on Ethereum but have since been adopted by many other blockchains, including Solana, Stellar, and Waves. And now, even the crypto industry's biggest player, Bitcoin, has delved into this useful technology through Stacks.

Stacks (formerly known as Blockstack) is a Layer-2 solution implemented on the Bitcoin blockchain in 2018. Since then, it has undergone its second mainnet launch, giving way to the Stacks we know today.

Stacks is linked to the Bitcoin blockchain via its proof of work consensus mechanism. While Ethereum is often known as the prime place for using smart contracts, Stacks brings a similar capability to Bitcoin.

The official Stacks whitepaper states it "enables smart contracts and decentralized applications to trustlessly use Bitcoin as an asset and settle transactions on the blockchain." Put simply; Stacks lets you use smart contracts and decentralized applications (DApps), features that were not previously present on the Bitcoin blockchain.

Many DeFi applications, such as automatic market makers (MMs) and liquidity pools, need smart contracts to function. So, without such capabilities, Bitcoin remains very limited in what it can offer. With Stacks, and therefore smart contracts, many doors are opened.

While Stacks is a Bitcoin Layer-2 solution, it does not use the proof of work mechanism. Rather, it uses something known as proof of transfer. Proof of transfer is a modified version of proof of burn. By burning their STX tokens (which we'll discuss later), miners can mine on the Stacks blockchain.

The Stacks whitepaper also reveals that the name "Stacks" is an acronym. Here's what each letter stands for:

As you can see, the Stacks solution focuses on several elements, including security, scalability, and trust. The protocol's Clarity smart contracts protects users from bugs and exploits.

Stacks does not allow the creation of Bitcoin-based NFTs, as it is a Layer-2 solution. However, its smart contract abilities can be used in NFT trades. Stacks also has its own NFT marketplace, wherein all products are priced with STX.

The Stacks protocol also comes with its own crypto asset, STX. We briefly mentioned this crypto previously, but it's important to understand its purpose and functionality within the Stacks ecosystem.

STX is used to pay network fees, conduct payments within Stacks-based DApps, and reward miners for securing the blockchain.

The Stacks protocol has its own network of important contributors, including miners. Miners must burn their STX tokens to mine via the proof of transfer mechanism. However, for a Stacks block to be mined, a Bitcoin transaction must first take place on the original blockchain. For each Stacks block, there must be a Bitcoin block it is linked to.

Throughout early and mid-2023, Bitcoin Ordinals became a very hot crypto topic.

Many choose Ethereum over Bitcoin simply because the former blockchain offers so much more. Ethereum has long since been known as the prime blockchain for NFT creation, minting, and sales, whereas the Bitcoin blockchain serves as the ledger used for Bitcoin transactions. In short, Bitcoin wasn't very versatile.

However, many Bitcoin enthusiasts have been eager to tackle this versatility issue with some useful blockchain solutions, including Stacks and Ordinals. We already know what Stacks is, but Ordinals brings a whole new element to the game: Bitcoin NFTs.

The Bitcoin Ordinals protocol launched in January 2023. This is a Layer-1 protocol used for numbering satoshis. Like Stacks, Ordinals gives the Bitcoin blockchain extra capabilities, but the two are not one and the same.

Bitcoin NFTs, or Bitcoin Ordinals, are made using satoshis. Satoshis are tiny fractions of single BTC coins, with one Bitcoin containing 100,000,000 satoshis. Though minuscule, satoshis can transfer data, which can then be tracked.

This is done by inscribing data onto the satoshi, a process made possible by the Ordinals protocol. By attaching extra data to an individual satoshi, such as comments or messages, a non-fungible token (NFT) is effectively made. For instance, a satoshi could be inscribed with information on a digital file's location, making it an NFT.

However, because the Bitcoin blockchain does not use smart contracts, neither do Ordinals. This separates Bitcoin NFTs and other well-known NFT-capable blockchains like Ethereum, Solana, and Cardano.

Though Ordinals is a 2023 phenomenon, it was made possible via the 2021 Bitcoin Taproot update, which enabled satoshi inscription.

It's easy to confuse Stacks and Ordinals due to their similarities, but both protocols have different applications. So, when should you use either of these Bitcoin solutions?

If you want to utilize smart contracts using Bitcoin, Stacks is your solution.

Say, for example, you want to create, mint, or trade Stacks-based NFTs or secure your NFTs using Bitcoin's protection. Via the Stacks protocol, this is all possible. Additionally, you can use Stacks to create decentralized apps, which isn't directly possible on the Bitcoin blockchain.

If, on the other hand, you want to create or trade Bitcoin-based NFTs, the Ordinals protocol will serve you well. Because Ordinals is a Layer-1 solution rather than Layer-2, it allows for the generation of non-fungible tokens directly on the Bitcoin blockchain, not a separate chain like Stacks.

Though Stacks and Ordinals have different natures and purposes, it is undeniable that both solutions offer their own great perks. If you love Bitcoin but also want to reap the benefits of DeFi and all its versatility, both of these protocols may serve you well.

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Bitcoin Stacks vs. Ordinals: What's the Difference? - MUO - MakeUseOf