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What are the chances of Ethereum posting seven consecutive profitable quarters?

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The volume of Ethereum being traded across exchanges has dropped 30% in the last 24 hours, however, this is feeding the ETH scarcity narrative. This is bullish for ETH both in the short and long term. Following a drop in ETH percent supply and balance across spot exchanges in the past few weeks, the altcoin was trading at the $2433 level. The concentration by large HODLers has dropped to 41% level in the case of Ethereum.

For DOGE, and LINK, concentration by large HODLers drives the price rally, while in the case of ETH, the composition has remained largely in favor of retail traders. ETH’s HODLers are profitable at the current price level and on-chain sentiment is currently bearish. $199.75 Billion transactions were facilitated on the ETH network in the past week and the network growth was largely positive.

Why ETH is likely to have the seventh profitable quarter

Source: CoinGecko

The impact on Ethereum’s price was largely positive; anticipating the upcoming July update, Ethereum’s demand has increased. The quarterly returns have been positive for Ethereum for the past six quarters. Based on data from skew

Why ETH is likely to have the seventh profitable quarter

Source: Skew

With the current trade volume on both spot and derivatives exchanges, it is likely that Ethereum’s next quarterly return will be largely positive. The debate of ETH flipping BTC has taken a back seat as L2 scaling solutions and top DeFi projects compete with Ethereum for their share of network activity and transactions.

Ethereum’s profitability is largely dependent on resisting the selling pressure when the concentration by large HODLers drops. So far, the price has stayed above the $2400 level, barring the drop last weekend. The volatility and social volume are directly proportional to the price, and the increasing social media mentions are driving profitability for ETH HODLers.

Why ETH is likely to have the seventh profitable quarter

Source: Twitter

Based on the above chart, ETH consolidation has begun. The addresses that are following this consolidation and selling phase, range from those holding 10 ETH to 1000 ETH. The size of buying addresses ranges from 10000 ETH to 100,000 ETH. Large HODLers are accumulating while relatively small HODLers are selling and smart contract numbers are excluded here. This activity supports the narrative of another profitable quarter.


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Source: https://ambcrypto.com/what-are-the-chances-of-ethereum-posting-seven-consecutive-profitable-quarters

Blockchain

Dimitra (DMTR) Listed On Kucoin

Dear Dimitra Community, We have some fantastic news to share with you. Dimitra is excited to announce the listing of the $DMTR token on KuCoin, recognized as one of the world’s leading crypto currency exchanges. The exchange’s user base is global and it is considered to be one of the leading trading venues for emerging […]

The post Dimitra (DMTR) Listed On Kucoin appeared first on CryptoCoin.News.

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Dear Dimitra Community,

We have some fantastic news to share with you. Dimitra is excited to announce the listing of the $DMTR token on KuCoin, recognized as one of the world’s leading crypto currency exchanges. The exchange’s user base is global and it is considered to be one of the leading trading venues for emerging and established altcoins.

KuCoin is the first exchange to list $DMTR. This listing, to be followed by other centralized and decentralized listings, will facilitate and accelerate Dimitra’s goal of democratizing agriculture technology for farmers globally.

The Dimitra $DMTR token will be available for deposit initially with the DMTR/USDT trading pair.

– Deposits will open at 11:00am UTC on September 21, 2021

– Trading will start at 09:00am UTC on September 22, 2021

All trading execution is done through the official website at www.kucoin.com or within the KuCoin Android and iOS apps

Dimitra is grateful and fortunate to experience the growth of such an active and loyal community! We are looking forward to continuing to grow together.

Check out KuCoin’s listing announcement here: https://www.kucoin.com/news/en-dimitra-dmtr-gets-listed-on-kucoin-world-premiere?utm_source=twitterinfo

About Dimitra:

Dimitra (DMTR) is a blockchain platform that is democratizing the agricultural technology space for smallholder farmers globally. Dimitra provides access to the blockchain, machine learning, Internet of Things sensors, and Satellite Technology through a mobile platform that helps farmers globally increase their yield, reduce costs and mitigate risks. Current farming practices are not sustainable; creating an evolution of practices will contribute to solving some of today’s largest issues for farmers. Issues like poverty, hunger, global warming, carbon emissions, freshwater, and soil preservation are all impacted by the adoption of Dimitra. Dimitra’s platform provides utility by combining the crypto investment cycle with agricultural development practices within nations globally.

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Source: https://cryptocoin.news/press-releases/dimitra-dmtr-listed-on-kucoin-64840/?utm_source=rss&utm_medium=rss&utm_campaign=dimitra-dmtr-listed-on-kucoin

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Blockchain

MiamiCoin Could Free Residents Of Tax Burden, Says Mayor

Thanks to its recently launched cryptocurrency, Miami is exploring a new way to fund municipal expenditures. ICYMI my interview on MiamiCoin w/ @FoxBusiness ✅The revolutionary concept of @mineCityCoins ✅Understanding how it’s generated $5M+ for the City ✅How these benefits translate into a better quality of life for Miamians pic.twitter.com/ipewPwBMdw — Mayor Francis Suarez (@FrancisSuarez) September […]

The post MiamiCoin Could Free Residents Of Tax Burden, Says Mayor appeared first on CryptoCoin.News.

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Thanks to its recently launched cryptocurrency, Miami is exploring a new way to fund municipal expenditures.

MiamiCoin earns 2,000 USD every 10 minutes for the city

In February, Miami mayor Francis Suarez made first advancements to transform the city into a cryptocurrency hub. His plans were further cemented when the municipal cryptocurrency MiamiCoin launched last month with 30% of all mined coins going directly to the city.

In a recent interview with Fox Business, Suarez confirmed that the city receives roughly 2,000 USD every 10 minutes though MiamiCoin. Annualized, this transfers to a revenue of over 100 million USD, although Suarez has been more careful, estimating a yearly revenue of 60 million USD. The money is earmarked for specific projects, such as funding for underprivileged communities, crypto education, and climate change mitigation.

Crypto could revolutionize government funding, says Francis Suarez

In his interview, Suarez stated that MiamiCoin could theoretically abolish Miami’s already low tax burden altogether:

It’s interesting because it’s not an involuntary tax and it’s not philanthropy. It’s something that is completely different and could revolutionize the way governments are funded in the future.

It is still a long way to go for that though. In 2015, the City of Miami recorded a total tax revenue of roughly 240 million USD. Yet, the move towards municipal coins is a very natural development.

Using cryptographic tokens as a funding vehicle for developing DeFi platforms and other decentralized applications is a tested method and has specially made great advancements over the last year. It should be only a matter of time until this method will be tried on a municipal, or even nationwide scale.

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Source: https://cryptocoin.news/news/altcoin/miamicoin-could-free-residents-of-tax-burden-says-mayor-64826/?utm_source=rss&utm_medium=rss&utm_campaign=miamicoin-could-free-residents-of-tax-burden-says-mayor

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AMC Entertainment Could Include Dogecoin as a Payment Option

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Following confirmation that AMC would begin accepting Bitcoin, Ethereum, Bitcoin Cash, and Litecoin for online payment, the company’s CEO has asked the Dogecoin community if AMC should add the meme coin among the cryptocurrency options.

Almost 80% Want to Pay for a Movie Ticket With DOGE

Adam Aron, CEO of the world’s largest movie theater chain AMC Entertainment, conducted a poll via Twitter on Tuesday (September 21st, 2021) to check whether the company should accept DOGE payment. The poll, which ends on September 22nd, has garnered a lot of responses, most of them wanting AMC to include the meme crypto.

According to Aron, the Twitter survey came amid calls from members of the Dogecoin online community to add DOGE to the list of crypto options.

“I hear from many on my Twitter feed we should accept Dogecoin too. Do you think AMC should explore accepting Dogecoin?”

Before the latest development, the AMC CEO announced that the movie theater giant will accept Ethereum, Bitcoin Cash, and Litecoin by the end of 2021. This was after Aron previously revealed during an earnings call in August that customers would be able to pay for movie tickets and concessions online with bitcoin, also at the end of the year.

The poll has so far seen 110,000 votes, with 70% responding positively to the idea of DOGE payment, while 8% also agree but say they would not use the meme coin for payment. Meanwhile, 22% of the voters were not in support of the motion.


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Growing Support for Dogecoin Payment

Aron’s survey comes as the cryptocurrency market is experiencing massive price dumps, along with the global financial markets, mostly tied to the Evergrande saga. Bitcoin, which traded at $48k over the weekend, dropped to as low as $40k, with the price of other altcoins also plummeting. However, there has been a slight recovery.

Dogecoin is currently the 10th largest crypto by market capitalization and reached an all-time high (ATH) of over $0.7 back in May. Now, though, it’s down to roughly $0.2.

If AMC Entertainment goes ahead to include the meme token among the list of accepted cryptocurrencies, the movie theater giant would become the latest company to support DOGE payments. Some others who have adopted Dogecoin include American basketball team Dallas Mavericks and Newegg.

Apart from AMC’s Adam Aron, Tesla’s CEO Elon Musk also carried out a similar poll for his followers. Although many of the respondents voted in favor of the electric vehicle manufacturer including DOGE among payment options, the company is yet to make it official.

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Source: https://cryptopotato.com/amc-entertainment-could-include-dogecoin-as-a-payment-option/

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