Ethereum is not having the greatest start to 2020. Prices are dumping again from levels which are already at rock bottom as more ETH gets liquidated on exchanges.
Ethereum Keeps Dumping
Since New Year’s day ETH has dumped over 5% and the rout has continued for the third day of the month. Support at $130 has turned resistance as the world’s number two slid back to $125 a couple of hours ago according to Tradingview.com.
Yesterday’s Muir Glacier upgrade has done nothing for Ethereum prices as was the case with Istanbul last month. Hard forks and network improvements have little effect on markets these days.
Since its 2019 peak ETH has dumped 65% and it doesn’t look like recovering any time soon.
The cause appears to be a massive liquidation on major exchanges. As observed by trader ‘CryptoGainz’ Huobi has been flooded with $30 million in Ethereum over the past week.
“Oh, you know, just a casual +235k net inflow of $eth to huobi over the last 7 days.”
Oh, you know, just a casual +235k net inflow of $eth to huobi over the last 7 days.
At this point bulls owe Xi Jinping 30$ for the thorough prostate exam he has given them. pic.twitter.com/GZgu4mHFdM
— CryptoGainz (@CryptoGainz1) January 3, 2020
Since this exchange is popular in China the dump is likely to be the remnants of the PlusToken scam being liquidated. Huge Ethereum dumps occurred last month as PlusToken wallets were emptied. It was suggested at the time that the scammers could manipulate Ethereum prices for a long time to come.
In reality they appear to be just offloading their ill-gotten gains so prices are likely to recover as Ethereum fundamentals improve or crypto markets turn bullish again.
Nevermind the FUD
Aside from scammers and whales manipulating markets and encouraging the bears, Ethereum is fundamentally solid.
A growing DeFi ecosystem based on ETH proves that the token is evolving into the internet of money. The amount of ETH locked in DeFi has hit another all-time high of 3 million according to Defipulse.com.
There is also renewed optimism for ETH 2.0, the first stages of which will be rolled out this year as observed by crypto analysts.
“Super excited to see $ETH pull off Ethereum 2.0 this year. Definitely going to be the biggest crypto moment of the year.”
The entire rollout of the completely new ETH 2.0 platform is still a couple of years away but the first proof of stake Beacon Chain is likely to be activated later this year.
This will herald an entirely new way to earn with Ethereum through running a node or staking rewards which major exchanges are likely to offer.
Ethereum is having a rough time at the moment but there is light at the end of the digital tunnel.
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Key Takeaways
Why is Ethereum holding up despite price weakness?
Long-term holders are staying put and Ethereum staking continues to hit all-time highs, signaling strong conviction.
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Key Takeaways
Why is Ethereum showing resilience this quarter?
Ethereum short-term holders remain in a high profit zone, and smart money is buying the dip, giving ETH a conviction-driven advantage.
Key Takeaways
What’s driving Ethereum’s rebound above $4K?
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Key takeaways
Why is Ethereum leaving Binance?
Investors are moving ETH to self-custody.
Why is Bhutan choosing Ethereum?
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Key Takeaways
What’s fueling Ethereum activity?
Transactions broke 1.6–1.7 million daily and Active Addresses hit 422k, reflecting genuine adoption and DeFi growth.
Will ETH break higher soon?
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Ethereum signals strength as BitMine accelerates ETH treasury strategy. The ETH price bounced from lows of $3,800 last week and is holding above $4,100. Bitmine’s buying leads the corporate world’s interest in Ethereum, and tailwinds such as spot exchange-traded funds approval could catalyse gains to above $5,000.
Рост Ethereum к отметке $5 000 может столкнуться с новыми препятствиями. Ряд ончейн-сигналов указывает на встречный ветер для актива. Долгосрочные держатели ( LTH ) ETH активно продают свои монеты, что может создать давление на рынок.
Key Takeaways
Why did Ethereum's price stall near $4. 5k?
ETH faced rejection at $4,763, dropped to $4,499, with Perpetual demand fading and Exchange Netflows showing 13. 9k inflows.
What do metricThe post Ethereum dips below $4.
Key Takeaways
Ethereum reserves fell on Binance and Coinbase, while Long/Short Ratio, Funding Rates, and liquidation clusters shaped its bullish outlook.
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Key Takeaways
Ondo Finance has debuted its on-chain stocks on Ethereum, and it will expand to other chains. Will ETH clear the $5K overhead hurdle?
Ethereum [ETH] tokenized stocks continue tThe post Ondo tokenizes Wall Street on ETH: Ethereum targets $5,000 resistance appeared first on AMBCrypto.
Ethereum trades above $4,600 as bulls target a breakout to $5,000 A surge in Ethereum ETF net inflows and broader crypto bounce give buyers an edge. Tom Lee has predicted the ETH price surging to $5,500 and possibly $10,000 in 2025.
Key Takeaways
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Key Takeaways
Ethereum tagged a fresh all-time high at $4,953, with futures OI shooting up to $71 billion. Leverage is flooding in, setting the stage for a big move either way.
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The Ethereum ETFs have been driving the token upwards for over a month now. News and hype around the exchange products have seen more investors hop on the Ethereum blockchain, raising the ETH price further towards its ATH.
Ethereum (ETH) was once the undisputed growth story in the crypto world, delivering returns so massive that early investors still talk about its rise from cents to thousands of dollars. Those days are behind us, and while Ethereum (ETH) remains a giant, the next ETH-like story in the making is already attracting attention. Analysts are […]
Key Takeaways
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