Where Goes Ether After DAO Drama: Bears Rule But Pivot May Be Near
While bitcoin treads water in the mid-$750’s following another bullish week, Ether has been getting some less flattering attention. Early Friday morning the cryptocurrency based project known as the DAO (“Decentralized Autonomous Organization”) was exploited for about 3.5 million Ethers, equivalent to around $50 million USD via a quirk in the code related to child DAO’s. The public perception surrounding the event was certainly not good for Ethereum, the DAO, and other smart contract-focused endeavors. This is just the first big hurdle for this very new technology. There is no doubt that....
Related News
The Biden administration may be preparing for a strategic pivot on crypto regulations, potentially aligning closer with the digital asset community ahead of the upcoming November election. This speculation follows recent developments indicating a possible approval of a spot Ether ETF, a significant change in stance by the Securities and Exchange Commission (SEC). On Thursday, […]
The downside outlook appears as Ethereum billionaire addresses continue accumulating ETH supply. Ethereum's native token, Ether (ETH), will likely fall below $2,000, according to one popular market analyst.Ether paints a classic bearish continuation setupPseudonymous market analyst Wolf shared the downside outlook on March 7 as Ether's price rebounded by over 3% to nearly $2,650, a day after testing its upward sloping trendline near $2,500. Ignoring the intraday upside reversal, Wolf anticipated Ether's decline to continue further.ETH/USD daily price chart. Source: TradingViewAt the core....
The OKEx drama shows just how immature crypto markets are compared to traditional ones, but it also highlights their overall resilience.
The rule would have prohibited US banks from denying services based on ideological factors.
The FTX-Binance drama unfolds and deals a heavy blow on Sam Bankman-Fried’s crypto, the FTT. FTT, the token created to act as native cryptocurrency of crypto exchange FTX, suffered a massive blow after news broke that Binance is buying the company. In just a span of 24 hours, the digital asset lost almost 71% of […]