Tag: Ether

Crypto survey finds 47% of investors expect Ether to ‘surpass’ Bitcoin

coiner

Fidelity Digital Assets released a “Q2 2023 Signals Report” on July 18, which claimed that Ether’s outlook for the next 12 months and the long term is positive. Year-to-date, Ether (ETH) has gained 62%, but while the investment firm might be short-term bullish on Ether, that does not mean it believes that the month-long bullish channel will be sustained. While institutional investors like Fidelity Digital Assets may have a bullish longer-term vision for ETH’s price, let’s compare their analysis against network and market data to see if they’re on the money. Ether/USD…

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Ether price charts reflect weakness, but inflow to LSDFi could prevent an ETH sell-off

coiner

Ether has been on a downward trend, with the $2,000 level forming a crucial resistance level in recent months. While Bitcoin (BTC) recorded 11.94% gains, moving past $30,000 in June after BlackRock filed an application for an exchange-traded fund with the Securities and Exchange Commission in the United States, the upside in Ether (ETH) stayed around 3.16%. In the first week of July, buyers attempted to move the price past crucial resistance at around $1,900. However, a failed breakout exposed the price to further correction. The Ethereum network also witnessed a decline in…

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Ether price eyes $3K as exchanges’ ETH balances drop to an all-time low

coiner

Ethereum’s on-chain movements indicate bullish pressure building around Ether as its exchange balances reached an all-time low and staking deposits keep surging.  Ether’s (ETH) technical charts suggest that the asset can reclaim $3,000 if buyers are able to push above the resistance between $1,900 and $2,000. ETH held on exchanges hits an all-time low Exchange balances for ETH reached a new low of 12.6%, dropping sharply in the last 30 days, according to Glassnode data. Reduced supply on exchanges is usually a bullish sign, as it means fewer tokens are…

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SEC concerned over ‘Ether is not a security’ statement

coiner

Newly released documents showing edits that were made to a 2018 speech given by former director of the Security and Exchange Commission’s corporate finance division Bill Hinman suggest the editors were concerned his statement might undermine the idea that Ether (ETH) is a security.  This could risk locking the agency into a position it would find hard to change at a later date, the SEC comments warn. “Even with the caveats in the sentence, it seems that it would be difficult for the agency to take a different position on…

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Security or not, Ether looks poised to hold the $1.8K level based on 3 key metrics

coiner

Ether’s price retested $1,780 after the news of the United States Securities and Exchange Commission (SEC) suing cryptocurrency exchanges Binance and Coinbase, but it’s not preposterous to suggest that Ether bulls should be more than happy that its price did not break below the 67-day support.  The SEC’s actions are actually a double-edged sword for Ether (ETH), and on Crypto Twitter, some analysts attributed the bounce in Ether to its not being listed as a security in either of the cases brought against Binance and Coinbase. For instance, the SEC explicitly…

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Arbitrum-based Jimbos Protocol hacked, losing $7.5M in Ether

coiner

Adding to the growing number of decentralized finance (DeFi) protocol hacks in the crypto industry, Jimbos Protocol is the latest to suffer an attack resulting in a significant loss of funds. According to blockchain security firm PeckShield, Jimbos Protocol — the liquidity protocol of the Arbitrum system — was hacked on the morning of May 28. The attack resulted in the loss of 4,000 Ether (ETH), worth approximately $7.5 million at the time. Specifically, the attacker took advantage of the lack of slippage control on liquidity conversions. The protocol’s liquidity…

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The Ethereum Foundation just sold $30M in Ether — But will ETH price fall this time?

coiner

On May 6, Ethereum Foundation transferred nearly $30 million in Ether (ETH) to the Kraken cryptocurrency exchange, causing jitters in the market about a potential selloff event. ETH price fell 4.8% to $1,900 on the day, but the decline has been negligible so far amid a wider recovery trend. ETH price holding key support Ether’s price recovered modestly to $1,920 on May 7 after testing its 50-day exponential moving average (50-day EMA; the red wave) near $1,850 as support a day ago. Moreover, the price volatility dropped on Kraken in…

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