Ethereum market update: exploring the stratosphere with $150.00 as the next aim

  • ETH/USD has gained over 20% since the beginning of the week.
  • Afri Shoedon had to withdraw from social media platforms due to the scandal.

ETH/USD is changing hands at $148.00, gaining 7% since this time on Monday. The second largest coin by market value has been one of the fastest growing cryptocurrencies out of top-20 since the beginning go the week with upcoming Constantinople upgrade among one of the most apparent catalysts. At this stage, ETH bulls focus on $150.00 resistance. Once it is cleared, the intraday high of $151.26 will come into view.

Scandal within the community

Meanwhile, a scandal erupted within the Ethereum community. The release manager of Parity Technologies Afri Shoedon declared that a project known as Polkadot is a clone of Serenity (или Ethereum 2.0). However, he was bombarded with hash comments and had to withdraw from some social media channels. 

"Until further notice, you can reach me via [email protected], on Telegram using changing handles, and on Parity’s Riot/Github. I will no longer respond on Gitter, Skype, Discord, Slack, Wire, Twitter, and Reddit,” he said on Twitter.

He explained that he aimed to trigger a discussion, he did not intend to promote Polkadot, which is also developed by Parity Technologies. But those excuses did not save him from accusations of conflict of interests.

Shoedon deleted all his tweets starting from February 2019.

ETH/USD, 4-hour chart

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News

Latest Crypto News & Analysis

Editors’ Picks

BTC bulls bank on S&P 500 rally and new fiscal stimulus

Bitcoin (BTC) is creeping towards $9,300 on Monday, however, all previous attempts to settle above this area proved to be futile. Bitcoin has stayed mostly unchanged both on a day-to-day basis and since the beginning of Monday, while its market dominance dropped to 62.2%. 

More Bitcoin News

XRP/USD glued to $0.2000 after a failed recovery attempt

Ripple's XRP is changing hands at $0.2000, mostly unchanged both on a day-to-day basis and since the beginning of Monday. The coin has been locked in a tight range since July 11 after a retreat from the recovery high of $0.2117.

More Ripple News

IOT/USD lift-off to moon begins as $0.30 draws nigh

IOTA is among the biggest single-digit gainers on the day. Most cryptocurrencies in the market remain lethargic in their trading. However, some selected coins are leading recovery including Chainlink, Tezos, NEO and Dash. 

More IOTA News

Ethereum Price Update

Ethereum (ETH) is changing hands at $243.90,  mostly unchanged both on a day-to-day basis and since the beginning of Monday. The second-largest digital asset has recovered above the short-term channel resistance $24.00, however, the further upside has stalled above $243.00. 

More Ethereum News


Bitcoin Weekly Forecast: BTC volatility drops to a year low, get ready for a spiral drive

The week was tough for the cryptocurrency markets confined to tight ranges. Bitcoin has lost 1% of its value during the recent seven days with the trading range limited by $9,298 on the upside and $8,933 on the downside.

Read the weekly forecast