Ethereum Hates Missing Out: ETH/BTC Chart 📈🚀

Ethereum Hates Missing Out: ETH/BTC Chart 📈🚀

By CPix | Everything Crypto | 27 Jul 2020


Ethereum is about to go on a run against BTC only comparable to the move in early 2017 and you won’t want to miss it. The only question that remains is when new ALL TIME HIGH??

Ethereum’s previous price appreciation and fight for market dominance (charts above) was attributable to several factors. One being the boom in demand to participate in ICOs which most of the time required Ether to trade for the underlying ICO token. Another catalyst was the formation of the EEA, Enterprise Ethereum Alliance, created in the spring of 2017 with members such as Microsoft, ConsenSys, Accenture, EY, and many others. Toward the end of the run, rumors started to circulate of an upgrade to the Ethereum blockchain, from a Proof of Work consensus model to a Proof of Stake model. It turned out the latter was still several years of research away from production.

Moving forward, Ethereum has two substantial technical improvements to look forward too. As previously mentioned, Ethereum’s upgrade to ETH2 is now right around the corner with a planned launch in December of this year. ETH2 stakers will take the place of miners in the Proof of Work Ethereum, where the stakers will lock 32 Ether on the Beacon Chain and in return generate an annual interest rate as high as 18% depending how many Ether are staked. With over 120,000 Ethereum wallets with 32+ Ether, there’s a potential 3.5+ million Ether ready to stake.

Last but not least is EIP-1559. Ethereum Improvement Proposal 1559 is designed to set a dynamic base fee for every transaction which will be “burned” from Ethereum’s circulating supply forever. Meaning, the more transactions that settle using Ethereum’s Mainnet, the more Ether removed from circulating supply over time. This has the potential to create a deflationary mechanism resulting in more Ether burned per block than Ether created from inflation rewards.

Market Update (Monday 8:30 AM EST)

Percent Change (Rounded) Based on Last Monday Open (8:30 AM EST)

Bitcoin- $10,350 (+13%)

Ether- $322 (+36%)

Gold- $1,941 (+5%) ALL TIME HIGH!!

DJI Average- 26,447 (-1%)

NYSE Composite Index- 12,481 (-1%)

NASDAQ Composite Index- 10,421 (-4%)

S&P500 Index- 3,219 (-1%)

New Developments

  1. Tether may surpass Bitcoin as dominant currency on blockchains, Ryan Watkins

  2. FINRA approves Bitcoin Cash and Litecoin Trusts, Grasycale Investments

  3. Banks in US Can Now Offer Crypto Custody Services, Regulator Says

  4. Announcing Fourth Cohort of Tezos Ecosystem Grants, Tezos Foundation

  5. Institutional Trading House ErisX Joins Silvergate Exchange Network, CoinDesk

  6. ETH2 Update: Medalla Testnet, Attacknets beta-0 launch, ETH1 + ETH2 Merge

  7. Gemini will now keep your ‘unstoppable’ web domains safe, Decrypt

  8. CFTC to develop ‘holistic framework’ for crypto assets by 2024, The Block

  9. China’s Blockchain Infrastructure extends reach to six public chains, CoinDesk

Industry Insights

For Developers

Blockchain Activity

Using key_to_wif for Bitcoin balance and transaction:
from bit import wif_to_key

# define key variable (smart to create environment variable and store key elsewhere)

key = wif_to_key("Your_Private_Key_Here")

# get balance

key.get_balance("btc")

# define addresses variable

addresses = ["n39WP6VZyiJdG6kiEbFTsYs92oxpJD19T5",
             "mhy7BVKpZzm23rRtNrHrrPwhgMLyGHT81F"
            ]

# create and print transaction hash

outputs = []
for address in addresses:
    outputs.append((address, 0.0001, "btc"))
    
print(key.send(outputs))

# get transaction history

key.get_transactions()

# get unspent transaction outputs (UTXOs)

key.get_unspents()

Python Activity

API Using Quandl:
*Important to note you typically need an API Key Environment Variable to access information and not dox your key

# import libraries and dependencies

import requests
import os

# get API Key

api_key = os.getenv("QUANDL_API_KEY")

# define request url and combo of url and API Key

request_url = "https://www.quandl.com/api/v3/datasets/WIKI/AMD.json?api_key="

request_url_rfd = request_url + api_key

# execute get request

response_data = requests.get(request_url_rfd)

# output response

response_data.content

Earn Opportunity

Download the Brave Browser, connect your wallet to Uphold, surf the web using Brave, and before you know it you’ll be racking up Basic Attention Token (BAT). BAT can be used to buy gift cards to your favorite retailers, tip content creators online, donate to favorite charities, and much more. Brave Browser boasts more than 15 million monthly active users worldwide making it one of the most widely used Ethereum applications in the world


CPix
CPix

Goal is simple. Speed up mass adoption!


Everything Crypto
Everything Crypto

In this blog I cover major public blockchain developments, cryptocurrency shifting from speculation to utility, and personal opinions as to how the space will develop going forward.

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