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Ether’s price rally is backed by the Ethereum network activity
To assess whether Ether’s price gains in February are backed by sustainable demand for ETH, one should monitor the Ethereum network’s on-chain activity. The network’s smart contract deposits, measured by the total value locked (TVL), reached an 11-month high on Feb. 9 at 16 million ETH, marking a 19% increase from the previous month. However, most of the surge occurred on the EigenLayer liquid staking solution, which jumped to a $5.85 billion TVL on Feb. 9, up from $1.15 billion the previous month.
Other noteworthy mentions encompa

Ethereum network strength, macroeconomic factors back ETH’s rally to $2.5K
A variety of bullish factors back Ethereum’s recent rally to $2,500.
Ether price witnessed a 10% price increase in the first nine days of February, breaking above $2,450 for the first time in three weeks. This movement was aligned with the broader cryptocurrency market’s bullish momentum and significantly influenced by the macroeconomic environment.
Despite the reasons behind Ether’s ETH tickers down $2,496 rally, investors are growing more bullish as deposits on the Ethereum network increase. However, is this momentum

CTXC, OCEAN, GRT, price outlooks
CXTX traders should exercise caution as the token is already overbought, considering the Relative Strength Index (RSI) position above 70. Those looking to open new long positions should be overly cautious. Those with current open positions should consider leaving them open as the northbound inclination of the RSI shows momentum is still rising and Cortex price could record more gains.
With a strong presence of bulls in the GRT and OCEAN markets, evidenced by the position of the Moving Average Convergence Divergence (MACD) in positive territory, the odds favor

#Gate Post Highlights
Bitcoin price could hit $46,000 as the allure of US BTC ETFs expand beyond China
Bitcoin (BTC) price has pushed north after a prolonged period of consolidation, with the change coming on the back of new revelations that the allure of US ETFs has spread beyond China.
Allure of US Bitcoin ETF expands beyond China
Eric Balchunas, an exchange-traded funds (ETF) specialist with Bloomberg, has indicated that besides China, Europe and Canada have joined the list of regions drawn to the US ETF market.
For China, the move came on the back of a constrained economy, with investors

Bitcoin price outlook after BTC shatters $45,000
After a break above $45,000, Bitcoin price is trading within the supply zone between $44,235 and $46,715. To confirm the continuation of the uptrend, the king of cryptocurrency must record a candlestick close above the midline of this order block at $45,451.
A decisive candlestick close above this level could see BTC extend the gains to the $48,000 blockade, or in highly ambitious cases, extend a neck higher to the $50,000 psychological level. Such a move would constitute a 10% climb above current levels.
The Relative Strength Index (RSI) is no

SEC delays another Ether ETF application
The U.S. Securities and Exchange Commission (SEC) on Tuesday delayed a decision on a spot ether (ETH) exchange-traded fund (ETF) jointly proposed by Invesco and Galaxy Digital, a filing shows.
The proposed product would allow professional investors to directly gain exposure to spot ether. Currently, ether futures listed on CME are one of the only ways for regulated U.S. investors and funds to bet on Ethereum’s growth.
Bloomberg Intelligence analyst James Seyffart said the delay decision was in line with expectations.
“100% expected, and more delays will

#Gate Post Highlights
XRP price faces potential stagnation as Ripple seeks deadline extension in SEC lawsuit
XRP price sustained above the psychologically important level of $0.50 even as payment giant Ripple requested to push the deadline for remedies-related discovery in the SEC lawsuit. The cross-border payment remittance firm seeks to push the deadline from February 12 to 20, according to a court filing.
The latest development in the SEC v. Ripple lawsuit is the payment remittance firm’s application to push the deadline to February 20, according to the court filing below.

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#NewYear2024
New Year, new beginnings, new goals! 🎉🥳
Happy New Year to all the wonderful Gate.io users! May 2024 be a year of prosperity and success for you and your loved ones. May your portfolios grow, and your crypto dreams come true! Cheers to a year full of new beginnings and endless possibilities. Let's make 2024 the best year yet! 🥂🙌
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#Gate Post Highlights #Content Mining #HotTopicDiscussion #GateLive
Pushing down crypto isn't easy
Buying on dips remains the dominant tactic in the crypto market. Capitalisation rose 1.8% in seven days to $1.65 trillion. Previously, the 'what doesn't rise, falls' formula was often applied to cryptocurrencies. However, recent attempts to sell off after a period of stabilisation have been met with increased buying.
Bitcoin remains at $43.0K. At the start of trading on Monday, there was an attempt to sell the price lower amid weakness in the Chinese markets. However, BTCUSD was bought back t

#Gate Post Highlights #Content Mining
#HotTopicDiscussion #PYTH
Pyth Network could enter price discovery mode if PYTH bulls defend $0.427
Pyth Network (PYTH) price rallied nearly 50% between February 1 and 2 due to a sudden spike in buying pressure. However, the altcoin is undergoing correction to find a stable support level.
Pyth Network price sets the stage for next leg
Pyth Network price consolidated for 11 days between January 21 and February 1 below $0.427. The breakout on February 2 led to a nearly 50% rally, but profit-taking reduced the total gains to 25% on candlestick closes.
C

#Gate Post Highlights
Bitcoin (BTC) price is showing strength again amid waning selling pressure from Grayscale Bitcoin Trust (GBTC) redemptions. The sentiment is yet to be reflected among altcoins, however, as Ethereum (ETH) and Ripple (XRP) prices still struggle amid a choppy altcoin market.
Bitcoin Weekly Forecast: BTC price remains indecisive despite strong fundamentals
Bitcoin price finds strength as GBTC selling pressure wanes
Bitcoin (BTC) price is trading with a bullish bias, consolidating along an ascending trendline for the past week. It had fallen below critical support just a few

#Gate Post Highlights #HotTopicDiscussion
#Content Mining #GateLive #SOL
Solana clears millions of “non vote” transactions in hours
Federa contrasted this with the outsized gas fees paid by users of the Ethereum network during popular airdrops such as the launch of ApeCoin in March 2022.
However, the airdrop event also saw numerous complaints from users of third-party apps such as Phantom Wallet and Solflare in the first hour of the airdrop. Federa said the issue was remote procedure call (RPC) nodes — the interface between user wallets and the network — and not the base layer of Solana

#Gate Post Highlights #Content Mining #GateLive Traders pumped and dumped another ‘JUP’ during $700M Jupiter airdrop
A seven-year-old defunct Ethereum-based protocol may have briefly benefitted from the $700 million airdrop for Solana-based exchange aggregator Jupiter due to its similar price ticker.
On Jan. 31, hours before the launch of Solana-based Jupiter’s JUP airdrop, an Ethereum-based token with the same ticker spiked more than 430% before plummeting just hours later.
According to data from CoinMarketCap, the price of Ethereum-based JUP went from $0.005 on Jan. 30 to $0.026 on Jan. 3