/r/ethtrader

Photograph via snooOG

Welcome to /r/EthTrader, a 100% community driven sub. Here you can discuss Ethereum news, memes, investing, trading, miscellaneous market-related subjects and other relevant technology.

Welcome to /r/EthTrader, a 100% community driven sub. Here you can discuss Ethereum news, memes, investing, trading, miscellaneous market-related subjects and other relevant technology.

Intro

Welcome to /r/EthTrader, a 100% community driven sub which complements the official Ethereum sub. Here you can discuss Ethereum news, memes, investing, trading, miscellaneous market-related subjects and other relevant technology.

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🍩 Claim Donuts & FAQ | 👨‍⚖️ Mod Logs | 👥 New Comments | 💡 Donut Improvement Ideas

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You can correct inaccurate link-flair assignments by typing "[AutoMod]" along with the flair name in a top-level comment, e.g. [AutoMod] DAPP-NEWS. All flair names are capitalized, e.g. use [AutoMod] EXCHANGE instead of [AutoMod] Exchange. Two word flairs require a hyphen in between them. Requires 100 comment karma and 1-month account age. If this feature doesn't work, please message the modmail.


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/r/ethtrader

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26 Comments
2024/07/19
18:52 UTC

22

What is this money you speak of.....

9 Comments
2024/07/19
18:00 UTC

9

Ethtrader Market Update (19 July 2024): Uneventful Friday, Crypto Makes A Mini Rally Anyway

Good day legends! 🤩

Yesterday ETH traded in a range of $3367-$3489 and ended the day at +1.15% (half a crab? 🦀/2).

UK Retail sales were weaker than forecast at -1.2% Month-on-Month in June compared to forecasts of -0.6% and the previous month’s figure of +2.9%.

Really nothing much going on in markets today with no data from the US, with the only notable developments being the computer system disruptions due to a messed up update from CrowdStrike Holdings which led to system outages for Microsoft systems, as well as headlines saying Biden will continue to press forward despite growing calls within the Democratic Party for him to step aside.

It has been a pretty uneventful week in terms of economic data, but crypto benefitted anyway from the Trump Pump and Powell sounding slightly more dovish when he spoke this week. Guess it’s time to wind down for the weekend and hope some of the positive momentum is still intact.

Today ETH opened at $3426 and has since traded in a range of $3377-$3514 and was last traded at $3501 at 17:30 UTC (+2.19%).

Happy trading Ethtraders! 🚀🚀🚀

41 Comments
2024/07/19
17:42 UTC

11

NFTs hate and its positive impact on Ethereum

I realised lots of people and redditors talked bad about NFTs in general, and even in this sub that are meant to be Ethereum Traders. But no matter the hate against NFTs, I feel like they've done a lot improving the Ethereum ecosystem.

Non Fungible Tokens(NFTs) market has been a very important part of the Ethereum ecosystem. Ethereum which has been the primary currency as most NFTs are created and traded on ETH chains and the most popular ones are built on the ETHEREUM Blockchain mainnent and its Layer2/sidechains.

The NFTs market has experienced rapid growth with sales volumes be said to be over a billions dollars. And this growth and popularity are contributing to increase in demand for Ethereum, as every users needs to HODL, transact, ETH to participate in any NFTs transactions. Which all this has helped the Ethereum network to be part of the leading cryptocurrencies in transactions volumes.

The growth of NFTs has drives many innovations and introduce so many news users, artist, musician and lots of collectors out there which helps promote Ethereum adoption and fuel it's growth.

This bear market has caused the NFTs market hype to reduce which some people are even saying NFTs are dead and they didn't want it to be a thing anymore. But if we have to think about it, the NFTs hype once again will improve a lots in ETH during this next bull circle.

So just wanted to ask your opinion, what do you think about NFTs reviving again or you just want it to be as it is?

46 Comments
2024/07/19
16:41 UTC

11

Africa's Blockchain Funding Drops to 1.3% in 2023, Deal Share Rises - Report

60 Comments
2024/07/19
15:54 UTC

11

Ethereum (ETH) Remains Inflationary as Circulating Supply Spikes

In the last month, 58,680 Ether (ETH) coins worth above $198 million at current market prices have been added to circulation.

This has pushed the altcoin’s circulating supply to an eight-month high of 120.22 million ETH.

Ethereum Supply Climbs to Multi-Month High

An asset’s circulating supply refers to the number of coins or tokens that are currently available to the public. It does not include coins or tokens that are locked, reserved, or otherwise unavailable for trading.

ETH’s circulating supply fell to a year-to-date low of 120.07 million on April 11. However, as the network experienced a decline in user activity, the reduction in the amount of coins burned led to an increase in the number of ETH circulating in the market.

Source: https://beincrypto.com/ethereum-eth-remains-inflationary-as-circulating-supply-spikes/

56 Comments
2024/07/19
14:32 UTC

8

Is Airdrop farming on Ethereum dead?

Hello fellow 🍩 enjoyers.

It seems as if Airdrop farming has become exponentially more difficult these days as more and more people flow into the space and projects capture people with fancy Point Programs meant to farm as much transaction fees as possible💲

Most airdrops seem to go completely linear (more capital, more gains) instead of a tier system which used to benefit the smaller fish. Within the Ethereum Ecosystem Linea and Scroll get a lot of attention but it'd be a big surprise if they pay off in a similar way than airdrops did back in the day.

To be honest, the entire point & season system seems a bit perverse in itself: A protocol launches and invests a lot of dev work into a fancy point UI, the TVL skyrockets because of farmers and after the airdrop all the capital flows back out to the next shiny point program.

What is your take on this? Are there still big surprises to come? Is the security risk of airdrop farming worth the potential rewards for you?

I hope you have a great day.

Greetings 😊

65 Comments
2024/07/19
14:28 UTC

16

(Gradual) interest rate cuts by central banks will boost the crypto market - Let me explain

Finally a bank we can trust

Before you start reading this, if you don't know how lower interest rates can impact the crypto market as a whole, read this post.


We can see there is a general pattern among central banks. A cautious change towards easing monetary policies, usually made up with a combination of controlling inflation and taking into account economic growth. However, the decision on rate cuts is different across different countries. It depends on their unique situations and the economic environment.

Fed

The Federal Reserve has been conservative. Powell stated that the current stance "is appropriate", considering the progress in inflation reduction.

Fed officials are considering potential rate cuts later this year, but it's going to depend on further economic developments. The expectations are a single rate cut by the end of 2024. Though, some expect two rate cuts, if inflation continues to drop.

ECB

The European Central Bank has also begun to consider rate cuts. Despite inflation, the ECB is looking into when and how much to ease, to support economic growth and to keep the prices stable.

The choice is based on the need to maintain balance between growth and inflation within the Eurozone​.

Bank of Japan

The Bank of Japan is still cautious with its "ultra-loose" monetary policy, but they are considering moving away from gradual easing. The central bank is monitoring economic indicators, especially inflation and economic growth metrics, before making any big policy changes​.

Bank of England

The Bank of England is now (finally) looking towards cutting rates after a series of hikes, with the objective of reducing high inflation.

As inflation starts showing signs of reduction, the bank is considering bringing it down gradually, to support the slowing economy. But they don't want to do it prematurely, because it can bring back inflationary pressures.

Developing nations

In the developing nations (emerging markets), many central banks have already implemented rate cuts.

Brazil, India and Turkey have taken even more drastic measures in reducing rates, as an effort to boost growth of the economy. These decisions are mainly influenced by the need for increased economic activity.


The ongoing small rate cuts by the top central banks will soon impact digital markets / crypto.

Simply put, low interest rates imply less cost of borrowing, thus increasing liquidity. This can consequently result in capital injection in riskier assets. These conditions will make investors look for high returns, and Bitcoin and Ether are the most viable options. Also, the rate cuts weaken fiat, which makes crypto more attractive as an alternative store of value.

This monetary easing can lead to two things. One is greater volatility, because more investors are attracted due to high yield. Another is diversification of portfolios by these investors, because they're looking for alternative ways to store of value in crypto.

The crypto market is pretty... let's say delicate. Any big news, or a major event, or sometimes a single group or person, can have an impact on the prices. Typically, macroeconomic factors have the greatest impact on market performance.

68 Comments
2024/07/19
14:10 UTC

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