Tag: ETH

Crypto market collapses by almost $1 trillion in a month

CRYPTO WORLD
Crypto market collapses by almost $1 trillion in a month

The cryptocurrency market suffered another sharp downturn on Wednesday, November 5, that marked a nearly $1 trillion monthly loss in market capitalization, which has dropped from $4.3 trillion recorded in early October to $3.4 trillion at the time of writing. Major cryptocurrencies all saw major losses. Bitcoin (BTC), down 8% on the week, tested the critical $100,000 support level, while Ethereum (ETH) dropped to $3,300, plummeting 16% over the same period. Institutional investors also pulled $1.15 billion from Bitcoin ETFs last week, signaling waning sentiment among traditional institutions, which were…

Read More

Ethereum Loses Critical Holders’ Support

CRYPTO WORLD
Ethereum Loses Critical Holders’ Support

Ethereum (ETH) has staged a recovery after bouncing from recent lows, pushing closer to the $4,500 level. The rally comes even as some of the most crucial long-term holders (LTHs) exit positions. Other investors, however, appear to be countering the impact through consistent inflows that are supporting price strength. Ethereum Investors Counter Each Other On-chain data shows Ethereum’s Liveliness metric trending higher, a signal that long-term holders continue to sell. This group holds significant influence, and their selling often creates downward pressure on ETH’s valuation. Their recent activity reflects caution…

Read More

Peter Thiel acquires 7.5% stake in Ethereum treasury ETHZilla

CRYPTO WORLD
Peter Thiel acquires 7.5% stake in Ethereum treasury ETHZilla

Peter Thiel, the billionaire tech investor and co-founder of PayPal and Palantir, is part of an investor group that holds a 7.5% stake in 180 Life Sciences, which is rebranding as ETHZilla, an Ethereum-focused corporate treasury vehicle, according to a new SEC disclosure. Shares of 180 Life Sciences (ATNF) jumped over 11% at Monday’s close and surged roughly 57% in overnight trading, Yahoo Finance data shows. 180 Life Sciences announced its Ethereum treasury plan in late July. On Monday, the biotech firm said it sold $156 million in senior secured…

Read More

SharpLink Gaming Faces Share Decline Amid $400 Million Ether Acquisition Deal

CRYPTO WORLD
SharpLink Gaming Faces Share Decline Amid $400 Million Ether Acquisition Deal

SharpLink Gaming recently announced a $400 million share purchase deal to enhance its Ether holdings. This strategic move is expected to raise its total ETH assets to over $3 billion, positioning the company as a significant player in the cryptocurrency market. Following the announcement, SharpLink’s shares fell over 6.5% to $22.34 but saw a recovery in after-hours trading, gaining nearly 3.5% to $23.10. This volatility reflects investor sentiment and market dynamics surrounding cryptocurrency investments. What are the implications of SharpLink’s Ether purchase? The purchase is expected to enhance SharpLink’s market…

Read More