Ethereum Declined, Fares the Worst out of Top Cryptos

Ethereum (ETH) closed the last 4-hour candle dropping by 1.83% or $6.65. And that denotes the consecutive 4th candle a decrease has occurred. In line with other instruments in the Top Cryptos asset class, ETH ranked fourth since the past 4-hour candle when it comes to percentage price change.

The opening price of Ethereum was at $364.19. And this is the result of yesterday being one where price moved down 3.46% or $13.05 from yesterday. The said move happened at a lower volume. As yesterday’s volume declined by 12.06% from the day before. Additionally, it lowered by 31.23% from the same day in the past week.

On a relative basis, Ethereum became the worst performer out of all five assets in the Top Cryptos asset class yesterday.

For its technical analysis, trend traders might watch closely that the strongest trend appears on the 90-day horizon. During that time, the ETH price has been moving up.

On the other hand, a trend in the other direction exists in the 30-day timeframe, where the price goes down. So, for those expecting the primary trend to resume, the counter-trend might open an opportunity to buy dips. And note that out of the last 14 days, Ethereum went up eight them.

DApss Push Notifications to ETH wallet users

Meanwhile, an Indian startup has developed a decentralized notification protocol. It is called Ethereum Push Notification Service (EPNS), letting DApps send push notification to ETH wallet users.

Richa Joshi, the EPNS founder, stated that they built the protocol after seeing a striking resemblance between how applications operated in the early days of the internet and how they run on Web 3.0.

Furthermore, she noted that Gmail or Orkut did not send notifications in its early days as they do now. Users needed to check back every time to see if they got any new emails or messages.

All of that changed when Apple launched notifications for internet applications in 2010.

Joshi explained, “All of a sudden, services began to reach out to users whenever an action was required from their end.”

With that, it boosted the engagement rate by 7x and massively developed user experience.

Decentralized Services

In that perspective, DApps, smart contracts, and other decentralized services on Web 3.0 work similarly to early day Gmail and Orkut. The EPNS founder highlighted that this intrigued them to deliver push notifications to the decentralized world. And extract the industry from the stone age era of communication.

In a further explanation, EPNS is a decentralized communication layer following the Web 3.0 ethos and can carry notifications to any platform, including crypto wallets, mobile apps, or even web browsers.

According to Joshi, EPNS would serve the same purpose for decentralized apps and services as Apple Push Notification Service does for iOS platforms. Then, this would be the decentralized middleware and verify the source, guarantee spam protection, and only allow notifications through to a wallet user if they have the consent to receive them. Also, the users would have complete control over whether or not they get notifications.

She said that the protocol enables users to be in direct control of the services they receive notifications from, “it imposes rules on the services including spam protection for users, limiting their ability to add wallets as subscribers, etc.”