The battle between bears and bulls is continuing in the cryptocurrency space.  Ethereum has been in the consolidating phase for quite some time now.  The price has been trading range-bound. The asset has been facing psychological resistance. If the psychological resistance is crossed, it is likely to witness another strong rally.

Analysts are of opinion that Ethereum holds good for those who have been holding ETH for a long time.  The amount of ETH which is stationed in the cryptocurrency exchanges over the past 12 months has declined in a significant manner.  This is indicative of the fact that ETH holders are expecting and waiting for the price to move high. Thus, this is a good sign for patient holders.

There is an increase in ETH token circulation and the price has surged to its highest levels since late June.  An increase in token circulation shows that holders are using ETH for different transactions in its ecosystem like payment for non-fungible tokens (NFTs) or investments in decentralized finance (DeFi) applications. Thus, if there are increased signs of utility for ETH and there is an increase in ETH usage in terms of transaction volume, the price will increase.

Anytime there is a market correction, there is a certain degree of panic among their community of holders. How much, and when, and the purpose for which money moves in and out of exchanges is an indicative factor of the demand and usability of the token.

Otherwise, there is an update about Solidity.  Solidity is an object-oriented, high-level language for implementing smart contracts. Smart contracts are programs that govern the behavior of accounts within the Ethereum state.

Solidity expressed:  Solidity 0.8.8 is here. V0.8.8 brings you user-defined value types as a major feature.  It also improves overriding interface functions, reading from immutable, and more.

Solidity v0.8.8 introduces user-defined value types as a means to create zero-cost abstractions over an elementary value type that also increases type safety and improves readability.

The “override“ keyword is now optional for interface functions. A function that overrides only a single interface function does not require the override specifier.

Immutable variables can be read at construction time once they are initialized.

The smallest and the largest value of an enum type can now be accessed using “type(E).min“ and “type(E).max“ respectively.

We added the new command-line option “–include-path“ that hopefully makes it much easier to compile more complicated projects using multiple libraries.

The command-line interface was cleaned up, we fixed several bugs and the SMTChecker has improved language coverage.

FYI bugfix release coming soon.  Please don’t use Solidity v0.8.8’s user-defined value types for production yet. We will ship a bugfix release shortly.