Opeyemi savors his attraction to the crypto market, which explains why he spends the better parts of his day looking through different price charts. “Looking” is a rather simple way to describe analyzing and interpreting various price patterns and chart formations. However, it appears that is not Opeyemi’s favorite part – in fact, far from it.

Being able to connect what happens on a price chart to on-chain movements and blockchain activities is what keeps Opeyemi ticking. “This emphasizes the intricacies of blockchain technology and the cryptocurrency market,” he would say. Most importantly, Opeyemi thinks of any market insights as the gospel, while recognizing that he is only a messenger.

When he is not clicking away at his keyboard, Opeyemi is most definitely listening to music, playing games, reading a book, or scrolling through X. He likes to think he is not loyal to a particular genre of music, which can be true on many days. However, the fast-rising Afrobeats genre is a staple in Opeyemi’s Spotify Daily Mix.

Meanwhile, Opeyemi is a voracious reader who enjoys a wide category of books – ranging from science fiction, fantasy, and historical, to even romance. He believes that authors like George R. R. Martin and J. K.
Rowling are the greatest of all time when it comes to putting pen to paper. Opeyemi believes his reading of the Harry Potter series twice is proof of that.

Indeed, Opeyemi enjoys spending most of his time within the four walls of his home. However, he also sometimes finds solace in the company of his friends at a bar, a restaurant, or even on a stroll. In essence, Opeyemi’s ambivert (haha! been searching for an opportunity to use the word to describe myself) nature makes him a social chameleon who is able to quickly adapt to different settings.

Opeyemi recognizes the need to constantly develop oneself in order to stay afloat in a competitive and ever-evolving market like crypto. For this reason, he is always in learning mode, ready to pick up the slightest lesson from every situation. Opeyemi is efficient and likes to deliver all that is required of him in time – he believes that “whatever is worth doing at all is worth doing well.” Hence, you will always find him striving to be better.

Ultimately, Opeyemi is a good writer and an even better person who is trying to shed light on an exciting world phenomenon – cryptocurrency. He goes to bed every day with a smile of satisfaction on his face, knowing that he has done his bit of the holy assignment – spreading the crypto gospel to the rest of the world.

Ethereum is struggling to break through key resistance levels, even after the recent crypto market surge led by Bitcoin. While ETH’s price remains under pressure, there’s encouraging news for investors. Recent data from IntoTheBlock highlights Ethereum’s continued dominance in decentralized exchange (DEX) volume, reinforcing its position as a major player in the DeFi space. 

This insight is vital for those concerned about Ethereum’s price underperforming compared to Bitcoin and other altcoins. The data suggests that despite the current price struggles, Ethereum’s network remains robust and highly utilized, especially in DeFi. 

This broader market perspective can help investors stay informed and make better long-term decisions, focusing not only on price but also on Ethereum’s underlying strength and growing utility. As the market continues to evolve, Ethereum’s role in DeFi could remain a critical factor driving future price action.

Ethereum DEX Dominance Could Be Challenged

One of the core products born out of DeFi is the decentralized exchange (DEX), allowing users to trade assets permissionlessly without the need for intermediaries. DEXs also enable users to become market makers by supplying liquidity to asset pairs, earning fees from trades between those pairs.

According to a recent IntoTheBlock report on X, Ethereum remains the dominant force in DEX volume, controlling almost 35% of the total market share. However, other blockchain networks are increasingly challenging Ethereum’s dominance. Solana, in particular, is emerging as a strong competitor, steadily solidifying its position within the DEX space. Solana’s increasing volume highlights its growing relevance despite Ethereum’s longstanding influence.

Other blockchains, such as Arbitrum and Binance Smart Chain (BSC), also hold a substantial share of the DEX market, with Arbitrum accounting for 14% of total DEX volume and BSC capturing 11%.

These networks continue to gain momentum as they offer faster transaction speeds and lower costs, making them attractive alternatives for decentralized trading. While Base, a new player, experienced rapid early growth, it has since leveled off, indicating the fierce competition within the DeFi landscape.

The competition to lead in the DEX market is intensifying, with various blockchain ecosystems striving to grow their market share. Ethereum’s vast liquidity and established user base give it a strong advantage, but Solana, Arbitrum, and BSC are rapidly gaining ground. 

ETH Technical Analysis

Ethereum (ETH) is currently trading at $2,427 following a 5% surge on Friday. Despite this recent uptick, ETH has been underperforming during this cycle, with the latest price action showing similar struggles. The price has faced difficulty breaking past the $2,460 resistance and has yet to test the 4-hour 200 exponential moving average (EMA) at $2,534.

This persistent resistance is fueling fear and uncertainty among investors, suggesting a potential retrace to lower levels. Support levels to watch include $2,300 and, if further declines occur, a deeper dip around $2,150.

Conversely, if ETH manages to reclaim and hold above the 4-hour 200 EMA, the outlook could shift positively. Successfully surpassing this critical level might position ETH for a potential rally toward $2,600 or even higher, providing a more bullish scenario. The market’s direction hinges on whether ETH can maintain momentum above the EMA or if it will face continued resistance and a possible consolidation at lower levels.

Featured image from Dall-E, chart from TradingView

• Starknet community approved a dynamic minting curve for STRK tokens.
• The minting curve adjusts token supply based on staking participation levels.
• Starknet Foundation can modify minting parameters to manage inflation and rewards.

The Starknet community has successfully passed a proposal to implement a dynamic minting curve for STRK tokens, a significant move to balance staking incentives with token supply.

Nearly 98.94% of voters supported the new staking mechanism, which aims to offer more control over token inflation while incentivizing user participation. It makes Starknet the first major Ethereum Layer 2 (L2) to roll out staking functionality.

The new minting curve included in the approved proposal is based on “Proposal 2” by Professor Noam Nisan, with slight modifications. It will adjust the minting rate according to staking participation levels.

James Strudwick, executive director of the Starknet Foundation, described the approval as a game-opCEO of StarkWare, and echoed these sentiments, noting that the approval “gives the community a real stake — both literally and figuratively — in its future.”

How the dynamic minting curve works

The dynamic minting curve will adjust the token minting rate (M) based on the staking rate (S) and a constant (C), initially set at 1.6. The formula allows the token supply to be fine-tuned according to how many users are staking, preventing inflation when staking levels are high and encouraging participation when engagement is low.

Additionally, the Starknet Foundation or a designated monetary committee will be responsible for adjusting the minting parameters. This includes the ability to modify the constant (C) within a range of 1.0 to 4.0, depending on staking trends.

Any changes to minting rates will require public announcements and a two-week notice period for community review, ensuring transparency.

With this dynamic system in place, Starknet hopes to foster a more engaged community and incentivize long-term network participation, helping to ensure the stability and growth of the platform.