Ethereum May Be One Dip Away From Mass Losses—Data Warns
On-chain data shows a large portion of the Ethereum market cap was acquired near the current price, making ETH’s position potentially fragile. $123 Billion In Ethereum Market Cap Sits Close To Cost Basis As explained by the on-chain analytics firm Glassnode in a new post on X, the largest share of the Ethereum market cap is currently above the spot price by just 0 to 20%. Related Reading: How Does Bitcoin Investor Behavior Shape Trends? Glassnode Reveals The indicator of relevance here is the “Market Cap by Profit and Loss,” which tells us about how much of the ETH market....
Related News
Ethereum has gained a few percent since the lows of last week. The coin currently trades for $380 but peaked earlier today at $385. This price action has been underscored by reports that mass Ethereum accumulation has been taking place. Leading crypto analytics firm Santiment reports that ETH is leaving exchange wallets en-masse, suggesting accumulation and long-term confidence. The firm recently wrote: “ETH’s top 10 whale exchange addresses have continued swapping their funds to non-exchange […]
Today, the UK government has published a report on digital privacy supporting the compulsory mass collection of data for both domestic and “extra-territorial” web traffic. The government tasked David Anderson, an independent UK lawyer, to investigate how the country's anti-terrorism and espionage laws work in practice and what needs to change. The report titled A Question of Trust supports the bulk collection of internet traffic and user data, including information held on servers outside of the UK. An excerpt reads: “Pending a longer-term and more satisfactory solution, the....
The new Hungarian criminal process law will make it possible to confiscate Bitcoins and other virtual currencies from suspects even in the early stages of the criminal process. Experts say the new rule proposal, which was made available for reading in February is in accordance with the international AML (anti-money laundering) regulations, even in the field of cryptocurrencies. Mass surveillance. According to experts, the passing of the bill will fundamentally change the face of the criminal process and will make mass surveillance legal in Hungary. The authorities will be able to use....
A recent press release reveals that a group of cryptography experts, advertisers and industry executives have formed what they call “The Mass Network.” This project aims to provide a blockchain-based solution to the problems of online advertising, such as pop-ups and exploitative practices. Mass Network Aims to End the Advertising Industry’s Exploitative....
Data shows the cryptocurrency derivatives sector has seen a mass liquidation event in the past day as Bitcoin and other assets have crashed. Crypto Market Has Seen A Long Squeeze In The Last 24 Hours According to data from CoinGlass, a large amount of contracts have been liquidated during the past day. A position is […]