Ethereum (ETH) Up $1.69 in Last 4 Hours, Moves Up For the 3rd Consecutive Day; Crosses 20 Day Moving Average

Ethereum 4 Hour Price Update

Updated August 31, 2020 01:36 AM GMT (09:36 PM EST)

Ethereum came into the current 4 hour candle up 0.4% ($1.69) from the open of the last 4 hour candle, marking the 6th straight candle it has gone up. Ethereum outperformed all 5 assets in the Top Cryptos asset class since the last 4 hour candle. Congrats to its holders!

Ethereum Daily Price Recap

Ethereum is up 7.59% ($30.25) since the previous day, marking the 3rd consecutive day an increase has occurred. As for how volume fared, yesterday’s volume was up 61.05% from the previous day (Saturday), and up 11.83% from Sunday of the week before. Out of the 5 instruments in the Top Cryptos asset class, Ethereum ended up ranking 2nd for the day in terms of price change relative to the previous day. The daily price chart of Ethereum below illustrates.

Ethereum Technical Analysis

Moving average crossovers are always interesting, so let’s start there: Ethereum crossed above its 20 day moving average yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Or to view things another way, note that out of the past 14 days Ethereum’s price has gone up 7 them.

Overheard on Twitter

Behold! Here are the top tweets related to Ethereum:

  • From iamDCinvestor:

    No matter what you think about $YFI, it’ll bring tremendous attention to #Ethereum as a whole.Really, it already is. Yes, because of token price.But once they learn what Yearn can do, and how it connects value across myriad DeFi apps, it’s going to blow uninitiated minds.

  • From ljxie:

    I’m excited about the fair launches in Ethereum. We’ll continue to see many more of them become successful. We’ll also continue to see founders raise from VCs but likely the trend being much smaller rounds to get to launch with lower caps per investor which IMO is a good thing!

  • From lex_node:

    the regulators failed on every possible levelthey could’ve created a compliant path for Reg A+s and Reg CFs on Ethereum and they just sat around and went after Kik and Telegram they’ll be totally lost on DeFi, I don’t think they’ll know where to start, it’s way beyond them

As for a news story related to Ethereum getting some buzz:

Ethereum is a Dark Forest. A horror story. | by Dan Robinson | Aug, 2020 | Medium

When anyone calls the burn function on a Uniswap core contract, the contract measures its own liquidity token balance and burns it, giving the withdrawn tokens to the address specified by the caller….(This concept is also the inspiration for the Dark Forest game on the Ethereum testnet.) In the Ethereum mempool, these apex predators take the form of “arbitrage bots.” Arbitrage bots monitor pending transactions and attempt to exploit profitable opportunities created by them….In addition to burying the call as an internal transaction, we would split the transaction in two: a set transaction that activates our contract, and a get transaction that rescues the funds if the contract has been activated….This would be implemented as follows: If the attacker only tried executing the get transaction, it would revert without calling the burn function….We were hoping that by the time the attacker had executed both the set and get transactions in sequence to spot the internal call to pool.burn and frontrun us, our transactions would already be included….If we had spent more time on the scripts, tweaked the contracts (perhaps changing the Getter contract to do nothing instead of reverting if called before being activated), or even synced our own node to avoid using Infura, we probably would have been able to get the transactions into the same block.