Ethereum Fear and Greed Index Flashes "Greed" as ETH Price Soars

Ethereum Fear and Greed Index Flashes "Greed" as ETH Price Soars

The popular “Crypto Fear and Greed Index” used to measure the market sentiment for major cryptocurrencies, is showing a 62 on the scale for Ethereum, suggesting that investors are rushing to acquire the leading altcoin.

Amid the bullish market sentiment into the “greed” phase, Ethereum experienced a 7.42% rise today, moving from $3,385 to $3,623. As of press time, the digital asset had retraced a bit to $3,542.

Back in August, the ETH Index entered the "greed" zone after flashing a 58. At that time, Ethereum managed to surpass the $2,600 region, which happened to be its highest price mark since mid-June. However, the upsurge back then was partly because the crypto community was anticipating the London hard fork, which contained Ethereum Improvement Proposal 1559 (EIP-1559).

Speaking of EIP-1559, data from the Etherchain shows that more than half a million ETH have been burned on the Ethereum network post-London. The fee-burning mechanism has had a positive impact on the coin's price and is giving ETH somewhat of a deflationary edge.

Read more

92nd Reason For National Bitcoin Reserve: Widespread Crypto Adoption Attracts International Tourists

92nd Reason For National Bitcoin Reserve: Widespread Crypto Adoption Attracts International Tourists

Countries that incorporate Bitcoin into their national reserves can experience an unexpected benefit: increased tourism from cryptocurrency enthusiasts and regular travelers alike. Data shows that nations openly accepting Bitcoin as payment throughout their tourism sectors create practical advantages for international visitors. Hotels, transportation services, and entertainment venues that accept BTC

By Albert Morgan