Ethereum: Despite the highest computing power, the implied volatility hits a half-year trough


Skew data shows that Ethereum’s current implied volatility has dropped to its lowest value in 6 months, at 3.8%. The implied volatility reflects the overall attitude of the market, and the falling volatility of Ethereum implies a downturn in market sentiment.

Compared to the news, Bloomberg also looked at the decline of Ethereum. In a June cryptocurrency outlook report, Bloomberg stated that the largest stablecoin, TEDA (USDT), will surpass Ethereum as the second-largest cryptocurrency by market capitalization. The report believes that Ethereum has always been affected by the shadow of Bitcoin. “Without the driving force of Bitcoin’s rise, we believe that the price of Ethereum does not have much room to rise.” And further emphasized that “in the irreversible encryption trend Next, it is only a matter of time before TEDA surpasses Ethereum to become the second-largest crypto asset by market capitalization.”

In addition, Ethereum’s network congestion has also prompted developers to call for raising the current 10 million gas limit. 9 hours ago, 1InchExchange, a decentralized token transaction aggregation platform, asked netizens to vote on “Whether Ethereum miners should increase the block size limit”. Options include “not used”, “increased to 25 million”, and “increased to 5 Ten million”, and “Raised to 100 million.” At present, 48% of the participants in the 819 votes chose “not to use”, 27% thought it should be increased to 100 million, 18% chose 25 million, and 7% supported the increase to 50 million.

Vitalik Buterin, one of the co-founders of Ethereum, personally responded to this voting tweet and said, “In my opinion, it is not realistic to increase to 25 million. If your purpose is to increase the gas limit through lobbying, 1.2 to 1.5 thousand. Wan is a more appropriate target.”

At the same time, the cryptocurrency analysis company Glassnode tweeted 3 hours ago that Ethereum’s computing power reached its highest value in nearly 7 months, “Ethereum’s hash rate has increased by 26.8% since the beginning of this year, and has now reached 7 The highest level in months.” The Glassnode chart shows that Ethereum’s computing power is currently close to 180 trillion hashes per second, which is 180TH/s. The price of Ethereum may rise as the hash rate rises.

Than push data shows that Ethereum is currently quoted at 240.82 US dollars, and after the simultaneous decline with Bitcoin on the 2nd of this month, it is currently oscillating between 235 and 245 US dollars. The market value of circulation fluctuated around $27 billion.



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