Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: JordanKing on November 22, 2022, 06:38:44 AM
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Since the crypto market has faced many impactful events that have plunged numerous digital assets to the bottom. As per Coinpedia, the second largest cryptocurrency, Ethereum(ETH), accelerates its bearish trend because its price seems to be affected mainly by huge fund movements by whale holders.
As reported by Coinpedia, the FTX hacker who stole around $600 million from the crashed crypto exchange is constantly swapping stolen Ethereum for cash-out purposes. It has been said that the hacked swapped across 15K Ethereum in exchange for renBTC, which further converted into 1023.64 BTC.
Following the huge liquidation of Ethereum, the asset is trading in a crucial fear zone, which may shortly trigger a sharp decline in the ETH price chart. Furthermore, during the ongoing dump situation, the DeFi activity on Ethereum has declined rapidly because DefiLlama displayed that the total value locked in dApps on Ethereum dropped by 4% to $23.8B.
Coinpedia believes that, if the hacked cashes out all his ETH Holdings, then ETH may continue its death rally further and fall below its crucial support zone of $1,075. After that, the price of ETH will likely stabilize closer to $900 before igniting a fresh surge by the beginning of 2023.
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The news of the bankruptcy of FTX exchange has badly hit the crypto market. Investors are withdrawing their funds from the market and securing them, and ethereum is also falling down. There is no hope of a boom in the market till next year.
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The cryptocurrency market is influenced by many factors. But in this case, the fall in the price of Ethereum was due to the theft and cashing out of a large number of these coins, that is, there was an increase in supply over demand. But such events affect the market only in the short term. In December, this influence will not be and the cryptocurrency still has a chance to grow in price at the end of the year. Of course, unless something unexpected happens again.
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In my opinion Holders more specifically bitcoin and Eth holders dont need to get pain or worry because we see the bitcoin at 6k$ and also breaks 60K$ , So we know the power of crypto in next 10 years peoples regret that why they dont buy bitcoin at 16k , So Hold is the key , and buy some time by time which you afford for next 10 years , if want to change yourself financially .
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It's really a shame Sam took this route(Yes I believe Sam Bankman-Fried did in fact steal from his own exchange FTX, and not some unknown black hat sat somewhere). But the main issue is we know he has (possibly) exchanged all the stolen Ethereum and thus no more Eth has to swap hands(at least from his own end). So Ethereum investors should rest easy
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The news of the bankruptcy of FTX exchange has badly hit the crypto market. Investors are withdrawing their funds from the market and securing them, and ethereum is also falling down. There is no hope of a boom in the market till next year.
You're right, the FTX issue made the market downs.
I think we should keep our dollars and wait the bottom to buy more several potential altcoins.
That's the good way to do now
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I am looking forward for a very strong rise of Ethereum in the first quarter of 2023 so maybe it would be good if that devil hacker - can actually be anyone connected with SBF and his ex-gf Caroline - will fully dispose of the ETH they hacked within 2022. Personally, this FTX contagion is so bad that nobody is not affected here in the world and market of cryptocurrency. After the excitement that the upgrade of Ethereum generated in the past months, it is now being handed a strong and bitter pill which it got no choice but to swallow. No wonder Vitalik Buterin is not speaking good things about Sam Bankman Fried - this man fried us all the way to hell.
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At this time all the crypto currency holders are going through the condition of panic. Funds are coming out of the market, it is very important to maintain the market for this.
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In the decentralized model, the game is powered completely by a blockchain. That means even the developers cannot alter the game unilaterally in any way without reaching a consensus with the community. In the hybrid model, meanwhile, the game runs from a central server, but its assets can be traded in a decentralized marketplace.
#Pawsome #NFTMarketplace #NFT #foxcampaigns #qie #qiblockchain
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The news of the bankruptcy of FTX exchange has badly hit the crypto market. Investors are withdrawing their funds from the market and securing them, and ethereum is also falling down. There is no hope of a boom in the market till next year.
This situation periodically happens with cryptocurrency, but after a while the market recovered. There is no doubt that it will be now. No matter how much bitcoin, ethereum and other cryptocurrencies fall in price, the cryptocurrency will pleasantly surprise us more than once. The situation with FTX will simply delay the mandatory recovery of the market for a while and thus the crypto winter will last a little. But anyway, winter in cryptocurrency will end as it ends on our planet and spring comes. It’s just a pity that the crypto winter has been going on for the whole of this year.
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And... you haven't taken into account the locked/stacked ETH plus its interest that investors are itching to sell. The price will tank especially in this market condition. That's why I think they'll stall the upgrade to buy some time, but it will be released eventually. Moreover, MetaMask will record IP as well, making privacy-concerned users will try to look for other solutions since the wound from tornado cash crackdown is still fresh.
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ot only ETH holders, I think almost all of altcoins and bitcoin holder will have bad situation during bearish season..It's it good for us
We just buy and hold until bullish season 2024.
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So far, I don't see any major negative impact on bitcoin and ethereum after the FTX crash. Bitcoin continues to be in the price range of 16-17 thousand dollars, and ethereum at the level of 1200 dollars. It is unlikely that the price situation will change significantly in the near future for the worse. Due to the fact that the hacker is exchanging 15,000 stolen ethereum coins, the price of this coin may drop slightly for a short time, but this cannot pose a threat of a price collapse for it.
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Not very positive news. I think that ETH will not drop its critical price. Even if this happens, the price of Ethereum will recover faster than expected.
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Not very positive news. I think that ETH will not drop its critical price. Even if this happens, the price of Ethereum will recover faster than expected.
anything can happen at crypto market mate
I think Ethereum will suffer during bearish.But don't be panic.
We should keep hold and wait.
The bullish season will happen two years again.
Let's see.