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2024-04-26

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Should the MFI be pegged back, the ETH may fall into the $1,400 region. The Awesome Oscillator (AO) indicated that ETH may experience another decline as the indicator was deep in the negative zone. The price of Ethereum’s native token, Ether (ETH), has gained around 35% in 2023 so far. But its attempts to break above $2,000, a psychological resistance level, have witnessed strong bearish rejections multiple times.ETH/USD daily price chart. Source: TradingViewCointelegraph takes a closer look at the three likely reasons why Ethereum price has failed to decisively retake $2,000 since May 2022.Ethereum price paints bear cycle fractalEthereum’s inability to cross above $2,000 in 2023 resembles the bearish rejection near $425 from 2018 to 2019.ETH/USD weekly price chart. Source: TradingViewIn both cases, Ether appears to be in a recovery phase while eying close above its 0.236 Fib line of the Fibonacci retracement graph.From 2018 to 2019, the 0.236 Fib line was near $425 and was instrumental in limiting Ether’s recovery attempts. In 2023, the same line is near $2,000, enforcing itself again as a selling area and, thus, pressuring ETH’s price lower.Stronger U.S. dollar, BitcoinA strengthening United States dollar has dampened demand for Ethereum in recent months, thus reducing its ability to close decisively above $2,000.The prevailing negative correlation between top cryptocurrencies and the dollar has been the main culprit. In 2023, in particular, the weekly correlation coefficient between Ether and the U.S. Dollar Index (DXY) has been consistently negative, as shown below.ETH/USD and DXY weekly correlation coefficient chart. Source: TradingViewMeanwhile, Ethereum has largely underperformed Bitcoin in 2023 due to the ongoing spot Bitcoin ETF hype. For instance, the widely-tracked ETH/BTC pair is down 20% year-to-date. ETH/BTC daily price chart. Source: TradingViewAdditionally, the net capital held by Ethereum-tied investment funds has dropped by $114 million so far in 2023, according to CoinShares’ weekly report. In comparison, Bitcoin-based funds have attracted $168 million in the same period.Related: Time to ‘pull the brakes’ on Ethereum and rotate back to Bitcoin: K33 reportEthereum network activity dipsThe total value locked (TVL) across the Ethereum ecosystem has dropped from 18.41 million ETH to 12.79 million ETH so far in 2023. That underscores a reduced availability of funds, resulting in lower yields for investors, as JP Morgan analysts also warned recently.Ethereum TVL since 2019. Source: Defi LlamaThe declining TVL has accompanied a drop in the Ethereum network’s gas fees, which reached a yearly low on Oct. 5. #Ethereum's network has been particularly cheap to use, and this week's average fee level of $1.13 is the lowest since November, 2022. Though not a perfect signal by any means, lower $ETH costs generally lead to a rise in utility and price rebound. https://t.co/ymXFwGJh49 pic.twitter.com/PEGpXMmZ3q— Santiment (@santimentfeed) October 4, 2023 Buy Ethereum with credit card or bank transferInvestors can download a variety of apps that follow Bitcoin and other cryptocurrency values in search of arbitrage possibilities. Investors can benefit from algorithms that automatically search for arbitrage across many cryptocurrency exchanges in this way. By using an automated process, cryptocurrency arbitrage traders can profit from a variety of price differences. Analyzing the defence's strategy, Sam Enzer, partner at Cahill Gordon & Reindel, said in a podcast: "The defense is trying to humanize Sam Bankman-Fried... [Obvious questions to the witnesses] corroborates that little fact and it takes some of the sting out of the bad testimony."

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“People only wanted to trade on FTX because you could trade against Alameda,” he explains. According to Spencer, FTX users were able to trade “shitcoin perps they launched and then subsequently destroyed. They were the initial liquidity providers for that.” Though Friend.tech’s weekly chat retention outpaces traditional social networking platforms, the average weekly trading retention has declined from 22% to a mere 5% over the course of time. According to the researcher, users should spend money “to test out a chat, subject to 10% tax on entry, and another 10% if the chat doesn’t work out”. Attributing the platform’s decline in trading retention to the minimal online business discussions and interpretations, Zach commented, “This could be a result of FT [Friend.tech] not being well suited for passive content consumption”. How do I make crypto untraceable?During the trial’s opening statements, Fong noted that the prosecution appeared to have a straightforward case. They alleged that Bankman-Fried had embezzled funds from FTX customers, transferred them to his sister’s trading firm, and used them for speculative investments and personal enrichment. In addition, Bankman-Fried also allegedly purchased Bahamian real estate, flew on private jets, made political donations, and contributed to various charities. Recently, XRP derivatives volume massively increased by 180%, while the exchanged volume doubled up in 24 hours, showing a growing interest by crypto traders in Ripple’s flagship product.

DPOS is known as one of the fastest consensus mechanisms as it can handle a higher number of transactions when compared to the rest. There have been reports recently claiming Base Network’s total value locked (TVL) has surged by 25%. But is it actually the case? Sell and Buy Bitcoin in Singapore11 Victims Fall Prey to HK$3.5 Million Binance Scam Related: Crypto adoption in Cyprus beefed up by Bybit license approval

Source: Bloomberg McLaren Automotive partnered with Mythical for the launch, the gaming company also said. Ethereum Price Prediction 2023-2040: ETH ForecastChallenges to achieving finality in blockchain While it’s true that picture-for-profile (PFP) NFTs are not booming, the value of NFTs has evolved to transcend price, and their uses are expanding far beyond a static image in someone’s wallet.

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