ETH news has been mostly positive this week but price has barely moved. View the Full PDF here

Here’s what you need to know:

Market Cap: $30.6B

$30.6B June 30th Price: $290.70

$290.70 July 5th Price: $289.80

$289.80 Change: -0.3%

Technical & Sentiment:

ETH is a HOLD this week - price might go as high as $310 - or as low as $270.

Sentiment has reached a monthly low - expect news to pick up

Positive Price Drivers:

Increased on-chain transactions are boosting the transaction fee price and market demand for tokens

The Swiss stock market ($4.7B daily volume) is listing ETH for institutional investors

Negative Price Drivers:

ETH network will struggle to meet increasing transaction volume until the launch of ETH 2.0 in January of 2020 - potentially creating a bubble in prices

ETH continues to underperform Bitcoin

In this issue:

Price Reports: ETH has traded sideways (-0.3%) underperforming Bitcoin (+2.94%). ETH has outperformed other top altcoins like LTC (-3.47%) and XRP (-7.84%)

Technical Analysis: ETH trades sideways on light volume

Ethereum Price Drivers:

#1: Binance to Switch Tether Addresses from Omni to ERC-20 - Poloniex & Huobi recently have implemented it as well



#2: Ethereum Transactions Exceed One Million For The First Time Since May 2018 - with fewer than ⅔ of the active addresses



#3: Bloom (built on Ethereum) is Now the Largest Decentralized Identity Platform in the World



#4: Opera Releases Crypto-Friendly Browser for iOS pushing further adoption of blockchain based technologies to the standard web users



#5: Ethereum Tokens to trade on the Swiss Stock Exchange



Sentiment Analysis: ETH Sentiment Reaches a Monthly Low

What Twitter is Saying: Mixed reviews

Funny Crypto Memes: Even Elon Musk would approve of these

See you Monday for the XLM report. Subscribe now to get it in your inbox, or if you want to join Tradecipher early, become an early member.

Only have 5 minutes? Catch a high level overview here:

Tradecipher is a crypto investment app that combines an intuitive trading platform with useable, relevant research available for users in 100 countries. Every weekday (M-F), we publish a weekly report covering XLM, EOS, Industry, BTC, and ETH (in that order).

Full Reports are free until July 9, 2019. Membership starts at $10/mo

Subscribe now and get 35% off.

ETH Price Report:

ETH price has remained in a narrow range since Jul 1. It will either move towards $270 or $310.

If price surpasses $295 - on high volume - it will move to $310, and possibly $328

If price falls below $283 - on high volume - it will move to $270.

If ETH price surpasses $295 - upgrade our recommendation to a buy. If ETH prices fall below $283 - downgrade our recommendation to a sell.

ETH Price Drivers This Week:

#1 Binance to Switch Tether Addresses from Omni to ERC-20 - Poloniex & Huobi recently have implemented it as well

According to Poloniex, using Ethereum addresses for withdrawals and deposits is faster and cheaper than relying on Tether’s Omni network

Tradecipher Take: As the largest crypto exchanges increase the number of transactions on the ETH blockchain, the price of ETH will increase. While increasing adoption is obviously good for both short-term price and long term health, ETH, in its current form, is not very scalable. If ETH starts experiencing network congestion and ultra high transaction fees, exchanges may revert to the typically slower Omni chain where they will be able to process transactions in a timely manner.

ETH Price Drivers This Week:

#2 Ethereum Transactions Exceed One Million For The First Time Since May 2018 - with fewer than ⅔ of the active addresses

Tradecipher Take: May 2018 saw the tail end of the ICO bubble during which many startups were using ETH as a payment/transaction method. The increasing number of transactions - despite fewer active addresses - indicates that ETH is primarily being used for decentralized computing instead of as an ICO platform - showing that its value as a public blockchain extends beyond crypto markets

ETH Price Drivers This Week:

#3 Bloom (built on Ethereum) is Now the Largest Decentralized Identity Platform in the World.

500,000 users data on ETH blockchain

Tradecipher Take: Platforms like Bloom show both customers and clients trust the ETH public blockchain with their most private data. That trust creates a positive feedback loop - improving short term price and long-term adoption.

ETH Price Drivers This Week:

#4 Opera Releases Crypto-Friendly Browser for iOS pushing further adoption of blockchain based technologies to the standard web users

Users can directly access blockchain applications by typing its address directly as a URL

Native ETH wallet built into browser

Tradecipher Take: Operas integration of ETH wallets will increase mainstream adoption of blockchain technology to those who were unlikely to download a secondary app to receive ETH. Web developers may integrate decentralized ETH blockchain technology to their websites as 8M pages are visited daily on Opera browsers. As more people have access to ETH, its price has more potential to increase.

ETH Price Drivers This Week:

#5 Ethereum Tokens to trade on the Swiss Stock Exchange

6 ERC-20 tokens to be ported over to the platform Corda to allow trading on the Swiss Digital Exchange

Swiss stock exchange currently has $4.7B daily trading volume

Tradecipher Take: Listing ETH based tokens on a regulated exchange makes it easier for institutional investors to move money into crypto - increasing the prices across the board.

Sentiment: Hit a monthly low along with a declining price. Both are expected to reverse their trends.





Sentiment has hit a local minimum on the monthly time frame (1)

Sentiment has declined along with price, since the recent $363.30 high (2)

Both price and sentiment are expected to rebound

What Twitter is Saying:

@AltcoinPsycho with 31.9K followers believes the ETH/BTC trade has a great risk/reward.

Not Everyone is so Positive Thought:

@notgrubles with 10.3k followers believes ETH will continue to move lower from here compared to BTC. We agree that BTC will outperform most altcoins.

@cryptoSqueeze with 104.5k followers thinks ETH is on the verge of a massive price decline even including the hashtag #PrayForETH.

Thanks for reading this far! Here are some dank memes:

That’s it for the ETH weekly report from June 30 - July 5, 2019. Make sure to subscribe to get Fridays ETH report. Full reports are free until July 9, 2019, at which they will only be available for Tradecipher Members.

Additional Readings And Sources

#1: Binance to Switch Tether Addresses from Omni to ERC-20 - Poloniex & Huobi recently have implemented it as well



#2: Ethereum Transactions Exceed One Million For The First Time Since May 2018 - with fewer than ⅔ of the active addresses



#3: Bloom (built on Ethereum) is Now the Largest Decentralized Identity Platform in the World



#4: Opera Releases Crypto-Friendly Browser for iOS pushing further adoption of blockchain based technologies to the standard web users



#5: Ethereum Tokens to trade on the Swiss Stock Exchange