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Ethereum Has Burned More Than 50,000 ETH

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According to data from Ultrasound. money, the number of ETH burned in the Ethereum network has exceeded 50,000. The total number is currently 500,70.28 with the total value worth of $165,382,135. The current burn rate on the Ethereum network is 3.3ETH/ min ($10899.9 / min) in 24 hours and 6.59ETH/ min ($21766.70 / min) in 1 hour.

Bingbon Chart

Source: TradingView& Bingbon

Despite a bullish week, Bitcoin may need to break the $48,000 psychological resistance level to support further upside ahead. Bitcoin broke through the first major resistance level at $47,000. Bitcoin’s price started a fresh increase from the $46,500 support and is likely to accelerate higher above the $49,000 resistance zone. BTC will need to solidify the $46,000 level to support a run to the first major resistance level at $49,000. There is also a major bullish trend line forming with support near $47,500 on the daily chart. If the price fails to stay above the trend line support, it could drop to $45,500.