Ethereum-based altcoin goes straight to the moon. Check out the latest reports about this below.

Ethereum based altcoin skyrockets

This happened after tech entrepreneur Pavel Durov made an announcement.

On November 30th, the billionaire announced that the top encrypted messaging platform Telegram would be updating Fragment. This is the decentralized auction platform, and it is supposed to include non-custodial crypto wallets and a decentralized exchange (DEX).

Durov’s announcement was partially in response to the collapse of FTX and the consequential scrutiny of centralized crypto firms.

Durov stated the following:

“This week, Fragment will expand beyond usernames. Telegram’s next step is to build a set of decentralized tools, including non-custodial wallets and decentralized exchanges for millions of people to securely trade and store cryptocurrencies.”

He continued and said this:

“This way we can fix the wrongs caused by the excessive centralization, which let down hundreds of thousands of cryptocurrency users.”

It’s also worth noting that since the announcement, Toncoin (TON) has rallied from $1.71 to a high of $2.85 today for a gain of 66.6%. Bitcoin (BTC) and ETH have rallied 11% and 5% in the same timeframe, respectively.

Ethereum latest news

It’s been just revealed that the former Goldman Sachs executive Raoul Pal says there’s one Ethereum (ETH) chart that traders should keep on their radar.

In a new analysis, he addressed the “Ethereum Today vs. 2017-2021 Analog” chart, which if followed, would indicate ETH is currently near the bottom of the bear market.

“Obviously, price analogs never work out perfectly, but it’s still something interesting to have on your radar.”

Ethereum is trading at $1,320 at time of writing.

The analyst is also looking at one chart that he says is showing the extreme bearish sentiment of stock market investors.

“Additionally, literally EVERYONE is already bearish; this chart speaks for itself and dates back to 1970.” Stay tuned for more news.

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