You are reading the article Ethereum Tutorial For Beginners: What Is Ethereum Blockchain? updated in December 2023 on the website Kientrucdochoi.com. We hope that the information we have shared is helpful to you. If you find the content interesting and meaningful, please share it with your friends and continue to follow and support us for the latest updates. Suggested January 2024 Ethereum Tutorial For Beginners: What Is Ethereum Blockchain?
What is Ethereum?
Ethereum is an open-source operating system that offers smart contract functionality. It is a distributed computing platform that supports developing decentralized Digital Applications (DApps) using blockchain technology. Ethereum provides a decentralized virtual machine called Ethereum Virtual Machine (EVM) that can run scripts using an international network of public nodes.
Ethereum is the biggest decentralized software app. It helps you to build smart contracts and decentralized applications without any downtime or any third-party interference. Ethereum allows the developer to create and publish next-generation distributed applications.
In this Ethereum tutorial for beginners, you will learn Ethereum basics like:Why do you need Ethereum?
Centralized systems are one of the most widespread models for software applications. This system directly controls the operation of the individual units and the flow of information from a single center. In this kind of system, individuals are depended on the central power to send & receive information.
However, there are issues with the centralized system are:
Single point of control & failure
It can be corrupt easily
Silo effectThe Solution is Decentralized Applications
Decentralized applications never reply on a centralized backend, but they interact directly with a blockchain. Refer this tutorial to learn more about BlockChain.
The term DApp is a combination of two words- decentralized applications. In simple words, it is an application, tools, or programs that work on the decentralized Ethereum Blockchain.
History of Ethereum
2013: Vitalik Buterin, a developer who was involved in Bitcoins, and he was first to describe on paper
2014: A Swiss firm Ethereum Switzerland Gmbh developed the first Ethereum software project
2023: Frontier, the first version of Ethereum was launched.
On March 14, 2023: A planned protocol Homestead becomes second biggest version upgrade of the ethereum network.
On May 2023: Ethereum gets the most extensive media coverage when the DAO raised a record $150 million in crowd sale.
On July 2023: The network branched into two broad categories: Ethereum (ETH) and Ethereum Classic (ETC).
June 2023: Ethereum rallies above $400 recording a 5001% rise since Jan 1st, 2023
May 2023- Ethereum will eventually overtake the success of Bitcoins
June 2023- The DAO was hacked by an anonymous group claiming $50 worth of ETH.
What is Smart Contract?
A Smart Contract is a computer program that executes automatically. It is a transaction protocol that allows blockchain users to exchange money and property. It also helps users to perform actions like voting without any central authority. It is a virtual third-party software agent that can automatically execute and enforce terms and actions according to the legal agreement.
How Smart Contracts Work?Traditional Contracts vs. Smart Contracts
Below is the difference between traditional contracts and smart contracts:
Parameter Traditional Smart contracts
Duration 103 Days Minutes
Remittance Manual Automatic
Escrow Necessary Necessary
Cost Expensive Fraction of the cost
Presence Physical presence Virtual presence
Lawyers Lawyers are important Lawyers may not be necessaryKey Terms in Ethereum
Currency Issuance: It is mostly managed and monitored by a country’s central bank. It is also referred to as a monetary authority.
Decentralized Autonomous: Decentralized Autonomous Organization is a digital organization which aims to operate without the need for hierarchical management.
Organizations (DAO): DAO is a combination of computer code, a blockchain, smart contracts, and people.
Smart Contracts: It is digitally signed agreement between two or more parties which relies on a consensus system
Smart Property: The Ethereum Wallet is a gateway to decentralized applications on the Ethereum blockchain. It helps you to hold and secure ether and other crypto-assets which are built on Ethereum.
Solidity: Solidity is the smart contract language used in Ethereum. It is general purpose programming language developed to run in the EVM environment. Solidity helps you to perform arbitrary calculations. However, it aims to send & receive digital token and store states.
Transactions: A transaction is a message which is sent from one account to another account that might be the same or empty. It can include binary data which is called Ether.
Ethereum Virtual Machine: The Ethereum Virtual Machine which is also known as EVM is the runtime environment for smart contracts. EVM is a computer layer straight above the underlying hardware. It is not just sandboxed but isolated. Moreover, the code running inside the EVM doesn’t have any access to network, filesystem or any other processes.What is Ether?
What is Ether?Gas
To perform a transaction on the Ethereum network, a user requires to make a payment (to the miner) Ether via an intermediary token called ‘Gas.’ It is a unit which allows you to measures the computational work required for running a smart contract or other transactions.
In Ethereum, the transactions fee is calculated in Ether, which is given asEther = Tx Fees= Gas Limit * Gas Price
Gas Limit= Refers to the amount of gas that is used for the computation
Gas Price= The amount of Ether a user is required to pay
Typical Ethereum Network TransactionEthereum vs. Bitcoin
Here is the main difference between Ethereum and Bitcoin:
Parameter Bitcoin Ethereum
Definition Bitcoin is a digital money Ethereum is a world computer.
Founder Satoshi Nakamoto Vitalik Butarrn
Hashing algorithms Bitcoin used SHA-256 algorithm. Ethereum uses Etash algorithm.
Average Block time 10 minutes 10-15 sec
Release Date 9 Jan 2008 30 July 2023
Release Method Genesis Block Mind Prasala
Blockchain Proof of work Proof of work (Planning for POS)
Usage Digital Currency Digital Currency
Cryptocurrency Used Bitcoin(Satoshi) Ether
Blocks Time 10 Minutes 12-14 Seconds
Mining ASIC miners GPUs
Scalable Not now Yes
Concept Digital money World Computer
Cryptocurrency Token BTC Ether
Turing Turing incomplete Turing complete
Coin Release Method Early mining Through ICO
Protocol Bitcoin still employs the pool mining concept. It uses a Ghost Protocol.
Next in this Ethereum tutorial, we will learn about applications of Ethereum.
Applications of Ethereum
Below are the applications of Ethereum:
Banking: With Ethereum’s decentralized system. It is almost impossible for a hacker to have unauthorized access to an individual’s personal information.
Agreements: By using a smart contract, agreements can be maintained and executed without any alteration.
Prediction market: The prediction market is another wonderful use case of Ethereum Smart Contract. The platforms like Gnosis and Augur use Ethereum for this purpose.
Digital Identity Management: Digital identities can be managed by using smart contracts which solve the major issues of identity theft and data monopoly.
Advantages of Ethereum
Allows you to upload and request programs to be executed.
100% uptime and DDOS resistant.
Ethereum helps you to create a tradable token that you can use as a new currency or virtual share.
Persistent and permanent data storage.
Build virtual organizations.
Helps you to develop decentralized applications.
Ethereum helps you to build fault-tolerant and highly secure decentralized apps.
The Ethereum Virtual Machine is slow, so you can’t use it for large computations.
Storage on the blockchain is expensive.
Swarm Scalability is an issue, so there is a trade-off with decentralization Private block chains are likely to proliferate.
Fixing bugs or updating Apps is a tough task because every peer in the network need to update their node software.
Some applications require verification of user identity, and as there is no central authority to verify the user identity.
If you want to learn about creating your own cryptocurrency, here’s a free tutorial you’ll want to check out: How to Create Your Own Cryptocurrency?Summary
Ethereum meaning: Ethereum is an open source software framework which is based on blockchain technology.
Ethereum helps you to build smart contracts and decentralized applications without any downtime or any third-party interference.
Ethereum was launched in 2013 by developer Vitalik Buterin.
Smart contracts allow blockchain users to exchange money and property. Mining Ethereum can be used for Smart Contracts as well as Digital Currency.
Ether is a value token of the Ethereum blockchain. It is listed as “ETH” on cryptocurrency exchanges.
To perform a transaction on the Ethereum network, a user requires to make a payment (to the miner) Ether via an intermediary token called ‘Gas.’
Ethereum ensures 100% uptime and DDOS resistant.
Fixing bugs or updating Apps in the Ethereum network is a tough task because every peer in the network need to update their node software.
You're reading Ethereum Tutorial For Beginners: What Is Ethereum Blockchain?
What is Docker?
Docker is a software development platform for virtualization with multiple Operating systems running on the same host. It helps to separate infrastructure and applications in order to deliver software quickly. Unlike Hypervisors, which are used for creating VM (Virtual machines), virtualization in Docker is performed on system-level, also called Docker containers.
As you can see the difference in the image below, Docker containers run on top of the host’s Operation system. This helps you to improves efficiency and security. Moreover, we can run more containers on the same infrastructure than we can run Virtual machines because containers use fewer resources.
Virtualization in Docker vs Hypervisor
Unlike the VMs which can communicate with the hardware of the host (ex: Ethernet adapter to create more virtual adapters) Docker containers run in an isolated environment on top of the host’s OS. Even if your host runs Windows OS, you can have Linux images running in containers with the help of Hyper-V, which automatically creates small VM to virtualize the system’s base image, in this case, Linux.
In this Docker tutorial for beginners, you will learn Docker basics like:Why use Docker?
Docker is computer software used for Virtualization in order to have multiple Operating systems running on the same host
Docker is the client-server type of application which means we have clients who relay to the server
Docker images are the “source code” for our containers; we use them to build
Dockerfile has two types of registries 1.) public and 2)private registries
Containers are the organizational units of Docker volume. In simple terms, an image is a template, and a container is a copy of that template. You can have multiple containers (copies) of the same image.Docker Architecture
Now in this Docker container tutorial, let’s talk about Docker main components in the Docker Architecture:
Docker ArchitectureDocker Engine
Docker is the client-server type of application which means we have clients who relay to the server. So the Docker daemon called: dockerd is the Docker engine which represents the server. The docker daemon and the clients can be run on the same or remote host, and they communicate through command line client binary, as well as a full RESTful API to interact with the daemon: dockerd.Docker Images
Docker images are the “source code” for our containers; we use them to build containers. They can have software pre-installed which speeds up deployment. They are portable, and we can use existing images or build our own.Docker Registries
Docker stores the images we build in registries. There are public and private registries. Docker company has public registry called Docker hub, where you can also store images privately. Docker hub has millions of images, which you can start using now.Docker Containers
Containers are the organizational units and one of the Docker basics concept. When we build an image and start running it; we are running in a container. The container analogy is used because of the portability of the software we have running in our container. We can move it, in other words, “ship” the software, modify, manage, create or get rid of it, destroy it, just as cargo ships can do with real containers.
In simple terms, an image is a template, and a container is a copy of that template. You can have multiple containers (copies) of the same image.
Below we have an image which perfectly represents the interaction between the different components and how Docker container technology works.
What we have several dockers commands docker pull, docker run.. we will talk more about that later.
How to install Docker on Linux/Ubuntu
Below is a step by step Docker installation process on Linux/Ubuntu:
Step 1) To install Docker, we need to use the Docker team’s DEB packages.
For that, Some prerequisite Ubuntu packages are required.
Use the below command to install Ubuntu packages$ sudo apt-get install ca-certificates curl software-properties-common
*the sign “” is not necessary it’s used for the new line, if want you can write the command without using “” in one line only.
Step 2) Add the official Docker GPG key with the fingerprint.
Use the below Docker command to enter the GPG key
Step 3) Next, Add the Docker APT repository.
Use the below Docker command to add the repository$ sudo add-apt-repository $(lsb_release -cs) stable"
You may be prompted to confirm that you wish to add the repository and have the GPG key automatically added to your host.
The lsb_release command should populate the Ubuntu distribution version of your host.
Step 4) After adding the GPG key,
Update APT sources using the below Docker command$ sudo apt-get update
We can now install the Docker package itself.
Step 5) Once the APT sources are updated,
Start installing the Docker packages on Ubuntu using the below Docker command$ sudo apt-get install docker-ce
The above-given command installs Docker and other additional required packages. Before Docker 1.8.0, the package name was lxc-docker, and between Docker 1.8 and 1.13, the package name was docker-engine.
NOTE: Docker for Windows requires Windows 10 Pro or Enterprise version 14393, or Windows server 2023 RTM to run
How to use Docker using basic Docker Commands
Here is how to use Docker using basic Docker commands:
The most basic command we must run after installing Docker is $ docker info as we said previously.$ sudo docker info
You should get the similar or following result
As we can see in the above Docker example, we have information about docker containers how many are running, paused or stopped and how many images we have downloaded. So let’s get our first image in this Docker commands tutorial.$ sudo docker pull alpine
With this command we are telling docker to download the image alpine, to pull it from the public registry, the latest version which is set by default.
*alpine is a minimal Docker image based on Alpine Linux with a complete package index and only 5 MB in size.
If we want to run the image as a container, we will use the following command in this Docker tutorials guide.$ sudo docker run -i -t alpine /bin/bash
If we run the command, we will be sent directly to the alpine’s terminal. The -i flag keeps STDIN open from the container, even when you are not attached to it. This persistent standard input is one half of what you require for an interactive shell. The -t flag is the other half and which instructs Docker to assign a pseudo-tty to the container. This offers us an interactive shell in the new container. We exit the container with a simple exit command.
Now in this Docker basics tutorial, we can try running an Ubuntu image.$ sudo docker run -it ubuntu /bin/bash
You can notice docker checks for the image locally, and if it’s not there, the image is pulled from the image library automatically, and once again we have an interactive shell running. We can also name the containers as we run them.$ sudo docker run –-name our_container -it ubuntu /bin/bash
and we exit again.
We can also run container we previously created, without an interactive shell.$ sudo docker start container_name
And stop the container writing docker stop container_name$ sudo docker stop container_name
If we want to see all running containers, we just run$ docker ps
And for all containers we add “- a”at the end of this same command, like this docker ps -a.
This command shows Container’s ID, which image is using when was created, running status, exposed ports and randomly generated name for the container for easier management.
When we run containers, we would also like to know how much resources they are using, for that purpose we can use the command.$ docker stats
You can also see which images we have downloaded locally and info about them.$ sudo docker images
The command in the above Docker example displays the docker image with a tag which shows our image version, a distinctive image ID, when was created and image size.What is Virtualization?
Earlier, the process for deploying a service was slow and painful. First, the developers were writing code; then the operations team would deploy it on bare metal machines, where they had to look out for library versions, patches, and language compilers for the code to work. If there were some bugs or errors, the process would start all over again, the developers would fix it, and then again the operational team was there to deploy.
There was an improvement with the creation of Hypervisors. Hypervisors have multiple Virtual machines or VMs on the same host, which may be running or turned off. VMs decreased the waiting time for deploying code and bug fixing in a big manner, but the real game changer was Docker containers.
Important Docker Commands
Below are the important Docker commands:
docker info Information Command
docker pull Download an image
docker run -i -t image_name /bin/bash Run image as a container
docker start our_container Start container
docker stop container_name Stop container
docker ps List of al running containers
docker stats Container information
docker images List of images downloaded
Docker Cleanup Kill all running containers.
Also, read Docker job interview questions and answers for fresher as well as experienced professionals.Summary
Docker is a software development platform for virtualization with multiple Operating systems running on the same host. It helps to separate infrastructure and applications in order to deliver software quickly.
Docker Architecture: Docker Engine, Docker Images, Docker Registries, Docker Containers.
Docker Engine: Docker is the client-server type of application which means we have clients who relay to the server. So the Docker daemon called: dockerd is the Docker engine which represents the server.
Docker Images: Docker images are the “source code” for our containers; we use them to build containers. They can have software pre-installed which speeds up deployment. They are portable, and we can use existing images or build our own.
Docker Registries: Docker stores the images we build in registries. There are public and private registries. Docker company has public registry called Docker hub, where you can also store images privately. Docker hub has millions of images, which you can start using now.
Docker Containers: Containers are the organizational units and one of the Docker basics concept. When we build an image and start running it; we are running in a container. The container analogy is used because of the portability of the software we have running in our container.
Most content that attracts the most attention nowadays is videos. Just think of TikTok. Seemingly overnight, this social media platform became one of the most widely used around the world. This just goes to show the power of videos in getting people to listen.
But let’s face it. With the level of video output, we’ve become accustomed to, a raw video won’t have the same appeal or effect. That’s why video editing is a great career. The demand is still growing, allowing you to explore various fields of specialization.
If you want to eventually get into this lucrative career, you should start developing your eye for design and your skills now. To start, you need a simple video editor.What Should You Look for in a Beginner-Friendly Editor App?
For many, there’s no single best video editor app for newbies because there’s no one-size-fits-all solution for anything. Instead, you should consider the end experience that you want to achieve. Here are a few things to bear in mind:1. User-Friendliness
As a beginner, you want to focus on being able to experiment. Unfortunately, it will be relatively hard to do that if the app isn’t user-friendly. It may even discourage you from further pursuing a career in video editing.
At the very least, the app should display all the functions clearly. They must also be properly labeled so you don’t get lost or confused.2. Affordability
This is especially important if you just need a video editing app for a quick personal project. You wouldn’t invest a lot of money for that quick project, right?
Whether you go for a free or paid (but affordable!) video editor, remember that you can always upgrade later on. This would also allow you to see first-hand which features matter to you, helping guide your buying decision.3. Features
This is a critical balance. On the one hand, you want to have enough to actually create a good video. On the other hand, you don’t want to be overwhelmed by complicated features.
4. Required Specs
Every video editing software would have certain requirements for this. But if you want to ensure the app runs smoothly, you should go above and beyond the required specs.
The more features the software has, the higher the required specs would be. You should select one that falls within the equipment that you already have. Even better, go with something that can work directly from your browser.Our Top Video Editor App Recommendations for Beginners (Ranked)
Based on the criteria established in the previous section, we believe that these are all great options:1. (Winner) 123Apps Video Editor
Launched straight from your browser, 123Apps offers the most convenient video editing app available today. It’s great for simple video editings, such as what’s required for an amateur documentary or a quick presentation.
The video tools you’ll see are enough to build your confidence in video editing. Plus, its audio tools and converters may also be utilized to further improve your final output. Did we mention that it’s completely free to use?
User-friendliness: 10/10. Everything is highly intuitive. You don’t even have to log in to use it!
Affordability: 10/10. If you’re just going to process 10 files per day, you can get this for free.
Features: 10/10. There’s definitely enough to learn the basics.
Required Specs: 10/10. If your laptop is good enough for Google Chrome, it’s good enough for this.
10 Top Android Apps For Personal Finances2. Windows Movie Editor
If you need to put together a video output quickly, another good option is the Windows Movie Editor. Here, there’s no need to download anything else as well because it’s part of your Windows OS.
It’s an improved version of its predecessor, the Windows Movie Editor. And with the collection of filters and themes, you can add a little pizzazz to your personal videos.
User-friendliness: 10/10. Like other Windows apps, you won’t have a hard time finding anything.
Affordability: 10/10. It’s free if you already have a Windows OS.
Features: 9/10. It has the basics, but it’s not good enough for any social media videos.
Required Specs: 7/10. Even though it’s technically compatible with any laptop with at least a Windows 10, it may still be susceptible to crashing.3. ActivePresenter
If you’re not tech-savvy, ActivePresenter might be a good option. We especially think it would be useful for computer-related instructional videos as it comes with a screen recorder too.
User-friendliness: 10/10. It follows the basic format of your average video editing app, so it’s easy to use.
Affordability: 6/10. The free version is limited, and a standard license costs a one-time fee of $199.
Features: 9/10. There are not enough transition tools.
Required Specs: 10/10. It’s compatible with Windows 7 and above.Final Thoughts
At this point, focus more on being more comfortable with video editing itself. Look at other videos for inspiration and see if you can recreate them.
With any of the apps above, you’ll be able to grasp the fundamentals of video editing. Good luck!
👉 Lesson 1
— A Complete Introduction with Hello World! Example
👉 Lesson 2
👉 Lesson 3
👉 Lesson 4
👉 Lesson 5
👉 Lesson 6
— Methods with EXAMPLES
👉 Lesson 1
👉 Lesson 2
👉 Lesson 3
👉 Lesson 4
👉 Lesson 5
Then it converts or compiles the script to the machine language.
Show dynamic content based on the user profile.
Support features like auto-validated form entries and interactive drop-down menus.
Send requests to remote servers, Upload and download files.
Ask questions to the users, Get and set cookies, show messages, switch browser tabs.
Examples of such limitations are:
It offers full integration with HTML/CSS.
Simple things are done quickly without any complication or following strict rules.
The cryptocurrency market is known for its volatility, which presents both risks and opportunities for investors seeking explosive returns.
In this article, we will analyze three cryptocurrencies that have shown promising trends: Ethereum (ETH), Avalanche (AVAX), and DogeMiyagi (MIYAGI). Get ready to expand your crypto portfolio.Ethereum: A Pillar Of The Cryptocurrency Ecosystem
Ethereum has long been regarded as a foundational cryptocurrency and a leading platform for decentralized applications (dApps) and smart contracts.
The project boasts a well-established and robust blockchain network, making it a preferred choice for developers and businesses looking to build dApps and execute smart contracts. This solid foundation has attracted numerous projects and users, contributing to Ethereum’s market dominance.
In addition, since the Shapella or Shanghai upgrade went live on April 12, interest in staking ether (ETH), or locking currency in the Ethereum network to earn passive income, has increased.
A sustained ether bull run has not yet resulted from the increasing staking demand. However, there is genuine hope that this will eventually be the case.
Ethereum’s versatility extends beyond being a cryptocurrency. Its network serves as a platform for a wide range of applications, including decentralized finance (DeFi), non-fungible tokens (NFTs), and more. This diverse ecosystem contributes to Ethereum’s long-term potential.Avalanche: Promising Innovations And Growth
Avalanche has made significant strides in the decentralized finance (DeFi) sector, capturing attention with its innovative protocols and ambitious roadmap.
Its DeFi ecosystem has seen remarkable development, introducing new protocols and decentralized exchanges. The rise of $BTC.b, a wrapped Bitcoin token on Avalanche, has further expanded its reach, attracting more users and investors.
Market forecasts indicate a positive outlook for Avalanche, with a predicted price increase over the next seven days. However, it is crucial to note that cryptocurrency price predictions are speculative in nature and subject to market volatility.DogeMiyagi: Embracing Community Growth through the Token Referral Program
As a new crypto coin, DogeMiyagi has emerged as a rising star within the cryptocurrency landscape. Although it is important to approach any investment with caution, there are several factors that make DogeMiyagi an intriguing prospect.
MIYAGI, inspired by the popular Dogecoin and its love for Mr Miyagi from Karate Kid, has gained significant traction and support from a passionate community. This enthusiastic backing could contribute to increased adoption and potential market growth.
The DogeMiyagi Referral Program is one of the most fascinating elements to come out of the DogeMiyagi development stage. Users who tell their friends and relatives about the community will receive rewards under this program. You will get a special code to share after you join the DogeMiyagi clan. You will earn a handsome 10% commission if others use this code to buy MIYAGI.
The DogeMiyagi Token Referral Program serves multiple purposes beyond its commission structure. It leverages the power of word-of-mouth marketing and the enthusiasm of community members to create a grassroots movement for the platform.Final Thoughts
Investing in cryptocurrencies always carries inherent risks, and thorough research is crucial before making any investment decisions. However, DogeMiyagi, Ethereum, and Avalanche present unique opportunities for potential explosive returns, each with its own strengths and considerations.
While all three have their merits, DogeMiyagi’s community-driven approach and unique program make it an intriguing prospect for investors seeking growth and engagement.For More Information on DogeMiyagi, visit:
The entire crypto-market has been seeing a strong correction lately, making it extremely volatile. What’s more, the market’s altcoins have been trying to recover from the said fall, attempts that have led to an indecisive market trend.
Litecoin [LTC], Ethereum Classic [ETC], and IOTA have been following this recovery trend and may continue to do so even in the near future.
The resistance was marked close to $238.86 and the support level remained at $168. The growing gap between the Bollinger bands was pointing to a rise in market volatility. This could result in another wild price movement, however, since the Signal line took over the candlesticks, the outcome could be bearish.
The Relative Strength Index also noted that the low price could be maintained as the selling pressure has remained high, When LTC’s price crumbled, the RSI touched the oversold zone and bounced back. At press time, it was at 37, suggesting that the sellers have maintained a dominant position with the momentum also supporting the low value.
Ethereum Classic [ETC]
Ethereum Classic’s [ETC] chart did not appear to be as volatile as other markets. Although the price movement of ETC has remained restricted, the sudden shift in volatility pushed its market lower too. The said chart noted that the price began trending lower after the price briefly touched $168. It dropped as low as $40, which was a drop of over 70% in 13 days.
However, at the time of writing, ETC had regained nearly 60% of its value and was being traded at $66.22. The volatility did not push the ETC market towards the bears, but the alt seemed to have adjusted the overly bullish narrative. The RSI value at 46 suggested that the selling pressure from yesterday did put the sellers in the driving seat, but the buying pressure was far away from catching up.
Further, the falling price from the peak has resulted in the market losing bullish momentum. Despite low momentum, the ETC market was still seeing money flow into its market, a bullish sign.
IOTA has followed the popular trend and remained bearish, at the time of press. Yesterday, the digital asset witnessed a blow of almost 60% to its value. Before the crash, IOTA was being traded above $2 and the sudden drop pushed its value to $0.74.
IOTA’s market saw the buyers come in and push its value to $1.35, a level it was trading at during the time of writing. This sudden drop, combined with the recovery, has left IOTA’s market open to high volatility.
This was also indicated by the divergence of the Bollinger Bands. As the bands remained wide apart, IOTA’s price could face more action in the coming days. The movement of the Signal line under the candlesticks suggested the price was trending lower, however, as recovery sets in, the traders were still on the selling side.
The RSI value of 37 affirmed this trend. The indicator dropped to the oversold zone when the price crashed, but the following recovery has pushed the indicator towards equilibrium. However, it has remained well under the equilibrium zone. As the sellers continue to dominate, money has started to flow out of the market and will continue until a change in the current trend is visible.
Update the detailed information about Ethereum Tutorial For Beginners: What Is Ethereum Blockchain? on the Kientrucdochoi.com website. We hope the article's content will meet your needs, and we will regularly update the information to provide you with the fastest and most accurate information. Have a great day!