Ethereum has come a long way in the last two weeks. After opening the month of August with $ 433.99 / 0.05629690 BTC, the currency dropped to monthly lows of $ 256.35 / 0.04233260 BTC before moving on to a sideline. The price fluctuated just under $ 300 before falling off a cliff on September 5 th . Ethereum reached the September low of $ 172.58 / 0.02762150 BTC and has since struggled to exit the obvious downtrend.
Ethereum currently has a price of $ 197.99 USD (-9.87% decline in the last 24 hours) / 0.03160457 BTC (- Decline of 6.83% in the last 24 hours). The daily trading volume of 305,813 BTC highlights the status of the currency as the king of the altcoins. One other thing that speaks in favor of this moniker is the fact that Ethereum is classified as the second most important cryptocurrency on the market, with a market capitalization of $ 20,201,441,616.
Trader InvestingScope provided this analysis of the Ethereum technical data:
"TP2 = 176.16 (minimum 29 July 2017) hit while 1D made a new low at 169 , 35 (RSI = 33.683) before it rose to 226.94. That level was again rejected on what appears to be the last lowest minimum of the 1W Channel Down (MACD = -97.260, Highs / Lows = – 132.5717, B / BP = -252.1900) We are again short on Ethereum 1.61%, still aiming at 176.16 and 138.61 in extension.Any upward bid should be limited by resistance 273.77 (accumulation point) short). "
Ethereum held a central meeting n. 46 during which members of the development community sat down and discussed various issues that included:  Test
In addition, the discussion included EIP-1380 (Reduction of gas cost for the call to self), EIP-1108 (Reduction of pre-filling gas costs alt_bn128), EIP-1057 (ProgPoW) and EIP-1355 (Ethash1a ). The complete video recording of the meeting can be seen here.
Solidity team published a bugfix version on September 13 th which solved two major bugs. The last 0.4.25 update solved the problems related to "exponential cleaning in exponentiation" and to "invalid encoding of structures in events". The blog update indicated that the problem of "memory corruption in the multidimensional array decoder" that troubled Solidity users from version 0.1.4 was solved just before the last version.
In the ecosystem updates, State recently announced the intention to abandon the Slack communication service and completely switch its community to the Status Mobile chat application. Under the motto "we use Status to build Status", the project will focus on migrating workflows and creating essential features needed for seamless transition. Gemini the exchange of digital resources launched by the twins Cameron and Tyler Winklevoss, has recently obtained authorization from the state authorities of New York to launch the Gemini dollar, a stablecoin anchored to 1: 1 USD that will allow users to send and receive US dollars on the Ethereum blockchain. Finally, Maker DAO has confirmed that their code for Multi-Collateral Dai is ready for release. This will be the first of many releases on the road to the launch of the Multi-Collateral Dai production, with more functional modules and educational material to be launched in the coming weeks.
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With the recent price developments of Ethereum, many sources have started to spread FUD on cryptocurrency. Although the value of the token has actually decreased over the last two months, this can be explained by the fact that Bitmex added the perpetual exchanges of ETHUSD with a maximum leverage of 50x at the beginning of August. When this instrument was added to the exchange, the market stopped Ethereum in the ground and caused its value to be lost. The cryptographic analyst and the expert on Bitmex, BambouClub, provided an excellent summary of how and why this happened; check your full article on the topic here.
Overall, Ethereum remains a project with solid foundations behind it. A network of dApp that, among other things, allows you to store funds, make loans with Ethereum as collateral, play simple videogames, make forecasts, exchange value and much more is one of the main pillars of the project. Strong development / user communities work in unison to create an ecosystem that will serve as a basis for a decentralized, transparent, controllable and consensus-driven economy. With a grounding as strong as that of Ethereum, it would not be wise to think that it could go down without a serious fight.
The writers and authors of CapitanAltcoin may or may not have a personal interest in any of the projects and companies mentioned. None of the contents on CaptainAltcoin is an investment advice nor a substitute for advice from a certified financial planner.