However, the presence of these large investors has not been felt with the ETH value. At press time, ETH consolidated, making a 1.70% drop in the last 24 hours. And according to on-chain, Ethereum’sTherefore, it is likely that ETH will continue to compress and trade around the same $1,600 in the short term.
. Despite the increased accumulation, various factors indicate that Ethereum might still be vulnerable to capitulation.One person who shared this sentiment was Benjamin Cowen, the CEO and co-founder of Into The Cryptoverse. According to Cowen, ETH’s market structure was similar to that of the summer of 2019 when the price dropped about 30%.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Coin Coin Latest News, Coin Coin Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ethereum: Whale prepares for rally in the face of subdued pricesSurging transfer volume battles price woes as a solitary whale dances with millions. Consequently, markets ponder a potential bullish crescendo.
Source: CryptoAmb - 🏆 22. / 68 Read more »
Whales dump Ethereum – should you be concerned?Amidst dwindling whale interest, Ethereum's network witnesses a surge in non-zero addresses, showcasing retail investor enthusiasm.
Source: CryptoAmb - 🏆 22. / 68 Read more »
Ethereum bears outnumber bulls as short positions soarMarket sentiments around leading altcoin Ethereum turns sour, as the count of short positions opened rallies.
Source: CryptoAmb - 🏆 22. / 68 Read more »
Ethereum mixer Tornado Cash co-founder arrested by US officialsTornado Cash co-founder’s eight Ethereum addresses sanctioned by the US Treasury Department The latest action […]
Source: CryptoAmb - 🏆 22. / 68 Read more »
Base’s TPS surpasses Ethereum, Optimism and Arbitrum lagBase’s Transactions Per Second surpassed that of Ethereum on 22 August. Arbitrum and Optimism also had to give way for the Coinbase L2. What drove this flip?
Source: CryptoAmb - 🏆 22. / 68 Read more »
ARK Invest and 21Shares apply for Ethereum ETFsARK Invest and 21Shares have submitted joint applications for Ethereum futures ETFs, coinciding with reports of potential SEC approval.
Source: CryptoAmb - 🏆 22. / 68 Read more »