![]() polygon □ September 18, 2023ĮTH is up at spot rates but needs to break above important price levels for trend definition. I’m a big fan of and excited to work with him and other core Canto contributors on… is joining the Ethereum ecosystem! Built with CDK, Canto is migrating to a ZK-powered Ethereum L2 that will turbocharge the neofinance revolution. Like Canto, Astar will build a zero-knowledge layer-2 using Polygon Chain’s development kit (CDK).īig news. According to reports, Canto is expanding to Ethereum as a layer-2, taking on established platforms, including Base, Arbitrum, and Optimism. Top of the list is Astar, one of the Polkadot’s largest parachains, and Canto. Looking at the over $9 million in fees churned by Friend tech, the social media platform on Base, validators had their revenue recharged after the lull from mid-August.īesides, more protocols are expanding to Ethereum. Notably, activity remains high, and the deployment of Base, the Coinbase-backed, Optimism-based Ethereum layer-2 protocol, appears to be breathing life into Ethereum. Activity Remains High, Layer-2 Scene Heating UpĪs it is, Ethereum remains the king of smart contracts and has been battle-tested sufficiently in the ongoing bear market. Even though there are hints of strength, there must be a conclusive breakout above $1,670 and, ideally, $1,750 for the buy trend definition.ĭespite the leg up, prices are back within the average of the past 30 trading days. Moreover, ETH is still boxed inside the August 17 trade range, which swings price action to bearish, at least in the short to medium term.Īs such, despite the welcomed bounce, a conclusive close above the immediate liquidation levels, ideally with expanding volumes, may signal strength, allowing aggressive traders to double down on dips. The Ethereum (ETH) prices are up seven percent when writing but trending below the $1,700 level. ![]() Activity Remains High, Layer-2 Scene Heating Up.
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