Ethereum
COTI unveils V2 Whitepaper for enhanced Ethereum confidentiality
- COTI Network launches V2 Whitepaper for Ethereum, boosting confidentiality.
- The V2 whitepaper unveils innovative features including Garbling Protocol and gcEVM for secure transactions.
- COTI token has dropped 7% in spite of this key development.
COTI Network, a leading Layer-2 scaling protocol on Ethereum, has launched its highly anticipated V2 Whitepaper, aiming to revolutionize confidentiality within the Web3 ecosystem.
The move underscores COTI’s commitment to addressing privacy concerns and driving innovation in blockchain technology.
Enhancing confidentiality on Ethereum
The unveiled V2 Whitepaper signals a significant step forward in enhancing confidentiality on the Ethereum blockchain. It introduces groundbreaking features designed to optimize performance while safeguarding user privacy.
One key innovation highlighted in the whitepaper is the implementation of a Garbling Protocol, which offers remarkable improvements in computation speed, storage efficiency, and latency compared to existing solutions. This protocol is poised to revolutionize blockchain encryption, offering up to 1000x faster computation and 250x smaller storage requirements.
Moreover, COTI is introducing gcEVM, an innovative extension of the Ethereum Virtual Machine (EVM) developed by Soda Labs. This extension reinforces blockchain transactions with confidentiality, ensuring secure computations on encrypted data. By integrating gcEVM, COTI aims to uphold data privacy while maintaining efficient functionality within the Ethereum ecosystem.
Addressing privacy challenges in Web3
COTI’s focus on confidentiality comes at a crucial juncture for Web3, where data sharing and user empowerment are central themes. As the Web3.0 ecosystem evolves, navigating the balance between individual privacy and blockchain transparency becomes increasingly complex.
The launch of the V2 Whitepaper underscores COTI’s commitment to addressing these challenges head-on. By prioritizing confidentiality as a core human right, COTI aims to equip the Web3 ecosystem with the tools necessary to safeguard user privacy while promoting innovation and adoption.
COTI token price reaction
Despite the groundbreaking advancements outlined in the V2 Whitepaper, the COTI token has experienced a 7% decline in value amidst broader market fluctuations, currently trading at $0.1643.
Ethereum
What The Futures Market Signals For Traders
Meet Samuel Edyme, Nickname – HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others.
Edyme’s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis.
Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events—like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ’s arrest—has honed his keen sense of market dynamics.
When he isn’t crafting engaging crypto content, you’ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he’s catching some Z’s or scrolling through Elon Musk’s very own X platform—(oops, another screen activity, my bad…)
Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters—(don’t judge, that’s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or “kaizen,” striving to be 1% better every day. His mantras, “God knows best” and “Everything is still on track,” reflect his resilient outlook and how he lives his life.
In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He’s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck—unflappable. Edyme is like trading in your car for a jet—bold. He’s the guy who’d ask his boss for a pay cut just to prove a point—(uhhh…). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent—okay, maybe that’s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps.
Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That’s just not the way he roll. He has these favorite lyrics from NF’s “Clouds” that resonate deeply with him: “What you think’s probably unfeasible, I’ve done already a hundredfold.”
PS—Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He’s 100% Him-alayan. Screw it, he ate the opp.
Ethereum
Ethereum Analyst Sets $3,400 Target Once ETH Breaks Key Resistance – Details
Ethereum has surged over 8% following Donald Trump’s election victory, igniting fresh optimism among investors. Despite this rally, ETH still trades below a crucial resistance level, keeping the price in check since early August.
This resistance, a critical barrier, must be cleared for Ethereum to regain its bullish momentum fully. Analysts are watching closely, with top crypto expert Inmortal sharing a recent technical analysis that suggests Ethereum could be gearing up for a significant breakout.
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According to Inmortal’s analysis, ETH appears to be building strength, and a push above this resistance could unlock the potential for a sustained rally. The market’s response to Trump’s win, particularly as he is seen as a pro-crypto candidate, has boosted sentiment, and many now anticipate increased volatility and upside for Ethereum.
Investors are now eyeing ETH’s next moves, with any break above the current resistance likely to signal the beginning of a stronger upward trend. As Ethereum inches closer to this key level, market participants are preparing for what could be a defining moment in ETH’s performance this cycle.
Ethereum Pushing Key Supply
Ethereum is pushing to break a critical resistance at $2,750, a level that has kept ETH under pressure since early August. This resistance has been a strong barrier; breaking above it is essential for confirming a sustained rally.
Top crypto analyst and investor Immortal recently shared a detailed technical analysis on X, where he outlined a $3,400 price target for ETH if it successfully clears this key resistance.
In his analysis, Inmortal emphasized that Ethereum, often dubbed the “most hated coin” in the current market, is worth paying close attention to despite its recent underperformance. Many investors have expressed frustration with ETH’s lagging momentum compared to other assets, making a breakout above $2,750 a potential game-changer for sentiment and price action.
The coming days will be pivotal as the market digests the impact of Donald Trump’s election victory and prepares for the Federal Reserve’s upcoming interest rate decision on Thursday. Trump’s win has already created bullish momentum across the crypto market, and Ethereum’s breakout could capitalize on this shift in sentiment. However, volatility may remain high, and any unexpected news from the Fed could impact ETH’s trajectory.
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If ETH can hold above $2,750 and continue pushing higher, the $3,400 target outlined by Inmortal could come within reach, marking a strong recovery phase for Ethereum. For now, the crypto community will be watching closely, as this breakout level can potentially define Ethereum’s performance in the months ahead.
ETH Technical Analysis
Ethereum is trading at $2,620 after a solid 12% surge from recent lows at $2,355. This price movement has given bulls hope that a rally may be on the horizon. However, ETH must break above the key $2,750 resistance level for the bullish momentum to continue and reclaim price action.
This level coincides with the 200-day exponential moving average (EMA), a crucial indicator of long-term strength. A breakout above this level and a successful retest would signal a market sentiment shift, confirming that ETH is on track to regain bullish control.
The 200-day EMA is often viewed as a significant support level once the price holds above it. If Ethereum manages to close above this level and maintain the price, it could spark further upside movement. On the other hand, if Ethereum fails to break above $2,750 and struggles to hold, it would signal a failed breakout.
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In such a case, ETH could face further consolidation or retrace to lower demand levels, possibly around $2,500 or even lower. Bulls must remain vigilant as the coming days will be critical for confirming Ethereum’s next move.
Featured image from Dall-E, chart from TradingView
Ethereum
Ethereum Volatility Soon? Derivatives Exchanges Receive 82,000 ETH In Deposits
On-chain data shows derivatives exchanges have just received large Ethereum deposits, something that could lead to volatility in ETH’s price.
Ethereum Exchange Netflow Has Seen A Sharp Positive Spike Recently
As explained by an analyst in a CryptoQuant Quicktake post, the Exchange Netflow for ETH has registered a large spike recently. The “Exchange Netflow” here refers to an on-chain indicator that keeps track of the net amount of ETH moving into or out of the wallets associated with centralized exchanges.
When the value of this metric is positive, it means the investors are depositing a net number of tokens to these platforms. How these transactions affect ETH depends on the exchange to which the holders are moving coins.
In the case of spot exchanges, investors usually make deposits whenever they want to sell, so positive exchange netflows to platforms of this type can lead to a bearish outcome.
For derivatives exchanges, which are relevant platforms in the current discussion, the relationship with the price doesn’t tend to be so simple. Holders transfer their coins to these exchanges to open up fresh positions on the derivatives market.
As new positions generally accompany some leverage, the overall risk in the sector could be assumed to go up when investors deposit to derivatives exchanges. This can lead to more volatility for the ETH price.
A negative Exchange Netflow is usually bullish no matter the platforms involved, as it implies the investors are moving their coins to self-custodial wallets, potentially because they plan to hold into the long term.
Now, here is a chart that shows the trend in the Ethereum Exchange Netflow for the derivatives platforms over the last few weeks:
As displayed in the above graph, the Ethereum Exchange Netflow has seen a large spike into positive territory recently, which suggests the investors have just made large net deposits to the derivatives platforms.
The holders have transferred about 82,000 ETH to these exchanges with this net inflow spree. As mentioned earlier, this trend can lead to higher volatility for ETH.
It’s hard to say which direction any emerging volatility might take the cryptocurrency in, as other positive spikes in the last couple of months have proven to be a mixed bag.
Given that the latest spike has coincided with a plunge in Ethereum’s price, though, a lot of these may be short positions predicting a further decline. If so, a swing to the upside could lead to liquidating these positions, which would add fuel to the rally.
ETH Price
At the time of writing, Ethereum is trading at around $2,400, down almost 7% over the last week.
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