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Will This Sell Signal Trigger ETH Crash?
Despite the recent Bitcoin crash, Ethereum (ETH) price trades today at $3,493.0 as of 2 PM. Surprisingly, ETH performance during the recent crash is much better than most altcoins, but this sell signal could cause issues and potentially trigger a crash for ETH. Regardless, Ether prices today hit a daily high of $3,501.2 after 4.53% move on November 27.
Will Ethereum Price Today Crash Again?
While many altcoins gave away gains to the market due to Bitcoin’s extended crash, Ethereum price remains steadfast, indicating strength. Depending on how BTC fares during Wednesday’s New York trading session, the value of ETH could drop lower or climb higher. As mentioned above, a sell signal flashes on the daily chart and could threaten the strength. Read more to find out.
Ethereum Price Chart Today
*Ethereum price updated as of 2 PM.
Ethereum’s innovative smart contract technology has made it a standout altcoin since its inception in 2015. Continuous major network upgrades ensure Ethereum stays ahead in smart contract innovation. The latest upgrade, Cancun, launched on March 13, 2024.
Ethereum Price Outlook
ETH’s year-to-date (YTD) performance continues to increase and currently sits at 33%. This recent slump in Bitcoin price has affected the YTD gains, which have dropped from 50% since November 11. As of November 27, 2024, if you invested $10,000 in ETH on January 1, 2024, your portfolio, after 317 days, would be up roughly $3,317. Ethereum’s market capitalization stands at $420.7 billion.
Ethereum: The Second-Largest Crypto By Market Cap
Ethereum ranks second in market capitalization, valued at $420.7 billion, after Bitcoin’s $1.73 trillion. Together, BTC & ETH’s market capitalization constitutes 83% of the total crypto market cap.
Since its all-time high of $571 billion in November 2021, Ethereum’s value decreased by half in October, but has spiked recently due to Bitcoin’s new ATH. Still, Ethereum maintains a strong lead over other popular cryptocurrencies:
- Solana (SOL): $98.8 billion
- Ripple (XRP): $89.8 billion
- BNB (BNB): $91.0 billion
Despite this recent downtick and recovery, the 24-hour trading volume of Ethereum is $41.7 billion.
Ethereum’s Crypto Trading Volume Soars
The 24-hour trading volume of Ethereum is $41.7 billion. Binance is the largest contributor to this trading volume – about 11% is contributed by spot trading and nearly 40% from futures trading. Exchanges like OKX, Bitget, and ByBit follow Binance.
Ethereum Upgrades to Proof-of-Stake Technology
The London hard fork is a significant Ethereum blockchain upgrade. It changed the network from Proof-of-Work (PoW) to Proof-of-Stake (PoS). Ethereum co-founder Vitalik Buterin recently shared his thoughts on X (formerly Twitter). He explained how Proof-of-Stake (PoS) is more decentralized than Proof-of-Work (PoW).
Notable Ethereum Blockchain Upgrades in 5 Years
Here are some key upgrades in the past five years that shaped Ethereum as the second-largest crypto by market capitalization.
Cancun-Deneb (“Dencun”): This upgrade aimed to improve Ethereum’s scalability, security, and usability, setting the stage for further enhancements.
2023:
2022:
2021:
London: Implemented the highly anticipated EIP-1559, which reformed the transaction fee market, making it more efficient and user-friendly.
2020:
How ETH Gas Affects Ethereum Price
The blockchain upgrades Ethereum receives aim to solve the trilemma of blockchain, i.e., balancing decentralization, security, and scalability. The switch to Proof-of-Stake (PoS) enhanced these aspects. Ethereum’s transaction fees (gas fees) plummeted post-upgrade, drawing more investors. Gas fees are like taxes, measured in Gwei, required for secure transactions.
As of November 27, the gas fee for a transaction on the ETH network as of 2 PM is 14 Gwei.
When Ethereum’s on-chain value grows, presenting opportunities, investors flock, driving gas fees up. This typically occurs during market upswings, peaking at all-time highs.
Ethereum Price Forecast For Next 7 Days
| Date | Price | Change |
|---|---|---|
| November 27, 2024 | 3410.43 | 2.79% |
| November 28, 2024 | 3403.94 | 2.6% |
| November 29, 2024 | 3413.78 | 2.89% |
| November 30, 2024 | 3435.93 | 3.56% |
| December 01, 2024 | 3474.45 | 4.72% |
| December 02, 2024 | 3482.86 | 4.97% |
| December 03, 2024 | 3473.99 | 4.71% |
| December 04, 2024 | 3485.11 | 5.04% |
| December 05, 2024 | 3477.47 | 4.81% |
| December 06, 2024 | 3468.89 | 4.55% |
| December 07, 2024 | 3476.50 | 4.78% |
| December 08, 2024 | 3474.76 | 4.73% |
| December 09, 2024 | 3462.27 | 4.35% |
| December 10, 2024 | 3444.43 | 3.82% |
| December 11, 2024 | 3446.50 | 3.88% |
| December 12, 2024 | 3432.37 | 3.45% |
| December 13, 2024 | 3443.70 | 3.79% |
| December 14, 2024 | 3463.18 | 4.38% |
| December 15, 2024 | 3466.48 | 4.48% |
| December 16, 2024 | 3469.00 | 4.56% |
| December 17, 2024 | 3483.34 | 4.99% |
| December 18, 2024 | 3525.58 | 6.26% |
| December 19, 2024 | 3521.45 | 6.14% |
| December 20, 2024 | 3530.18 | 6.4% |
| December 21, 2024 | 3523.20 | 6.19% |
| December 22, 2024 | 3501.58 | 5.54% |
| December 23, 2024 | 3492.83 | 5.28% |
| December 24, 2024 | 3490.18 | 5.2% |
| December 25, 2024 | 3469.13 | 4.56% |
| December 26, 2024 | 3494.83 | 5.34% |
Based on CoinGagpe’s Ethereum price predictions, investors can expect ETH to trade at around $3,373 in the next week. This is a considerate prediction and is in line with the lackluster performance seen since the start of 2024.
How High Can Ethereum Price Go Between 2025 & 2029
| January | $3,449.20 | $3,701.16 | $3,575.19 | 48.3% |
| February | $3,371.25 | $3,872.14 | $3,621.70 | 50.2% |
| March | $3,293.30 | $4,043.13 | $3,668.22 | 52.1% |
| April | $3,215.35 | $4,214.11 | $3,714.73 | 54.1% |
| May | $3,137.40 | $4,385.09 | $3,761.25 | 56% |
| June | $3,059.45 | $4,556.07 | $3,807.76 | 57.9% |
| July | $2,981.49 | $4,727.05 | $3,854.28 | 59.9% |
| August | $2,903.54 | $4,898.03 | $3,900.79 | 61.8% |
| September | $2,825.59 | $5,069.02 | $3,947.31 | 63.7% |
| October | $2,747.64 | $5,240 | $3,993.82 | 65.6% |
| November | $2,669.69 | $5,410.98 | $4,040.34 | 67.6% |
| December | $2,591.74 | $5,581.96 | $4,086.85 | 69.5% |
| All Time | $3,020.47 | $4,641.56 | $3,831.02 | 58.9% |
| January | $2,811.26 | $5,564.71 | $4,269.20 | 77.1% |
| February | $3,030.78 | $5,547.47 | $4,451.54 | 84.6% |
| March | $3,250.31 | $5,530.22 | $4,633.89 | 92.2% |
| April | $3,469.83 | $5,512.97 | $4,816.23 | 99.8% |
| May | $3,689.35 | $5,495.73 | $4,998.58 | 107.3% |
| June | $3,908.87 | $5,478.48 | $5,180.93 | 114.9% |
| July | $4,128.39 | $5,461.23 | $5,363.27 | 122.5% |
| August | $4,347.91 | $5,443.99 | $5,545.62 | 130% |
| September | $4,567.44 | $5,426.74 | $5,727.96 | 137.6% |
| October | $4,786.96 | $5,409.49 | $5,910.31 | 145.1% |
| November | $5,006.48 | $5,392.25 | $6,092.65 | 152.7% |
| December | $5,226 | $5,375 | $6,275 | 160.3% |
| All Time | $4,018.63 | $5,469.86 | $5,272.10 | 118.7% |
| January | $5,417.25 | $5,571.75 | $6,513.75 | 170.2% |
| February | $5,608.50 | $5,768.50 | $6,752.50 | 180.1% |
| March | $5,799.75 | $5,965.25 | $6,991.25 | 190% |
| April | $5,991 | $6,162 | $7,230 | 199.9% |
| May | $6,182.25 | $6,358.75 | $7,468.75 | 209.8% |
| June | $6,373.50 | $6,555.50 | $7,707.50 | 219.7% |
| July | $6,564.75 | $6,752.25 | $7,946.25 | 229.6% |
| August | $6,756 | $6,949 | $8,185 | 239.5% |
| September | $6,947.25 | $7,145.75 | $8,423.75 | 249.4% |
| October | $7,138.50 | $7,342.50 | $8,662.50 | 259.3% |
| November | $7,329.75 | $7,539.25 | $8,901.25 | 269.2% |
| December | $7,521 | $7,736 | $9,140 | 279.1% |
| All Time | $6,469.13 | $6,653.88 | $7,826.88 | 224.6% |
| January | $7,771.92 | $8,001.25 | $9,467.83 | 292.7% |
| February | $8,022.83 | $8,266.50 | $9,795.67 | 306.3% |
| March | $8,273.75 | $8,531.75 | $10,123.50 | 319.9% |
| April | $8,524.67 | $8,797 | $10,451.33 | 333.5% |
| May | $8,775.58 | $9,062.25 | $10,779.17 | 347.1% |
| June | $9,026.50 | $9,327.50 | $11,107 | 360.7% |
| July | $9,277.42 | $9,592.75 | $11,434.83 | 374.3% |
| August | $9,528.33 | $9,858 | $11,762.67 | 387.9% |
| September | $9,779.25 | $10,123.25 | $12,090.50 | 401.5% |
| October | $10,030.17 | $10,388.50 | $12,418.33 | 415.1% |
| November | $10,281.08 | $10,653.75 | $12,746.17 | 428.7% |
| December | $10,532 | $10,919 | $13,074 | 442.3% |
| All Time | $9,151.96 | $9,460.13 | $11,270.92 | 367.5% |
| January | $10,940 | $11,331.17 | $13,534.75 | 461.4% |
| February | $11,348 | $11,743.33 | $13,995.50 | 480.5% |
| March | $11,756 | $12,155.50 | $14,456.25 | 499.6% |
| April | $12,164 | $12,567.67 | $14,917 | 518.7% |
| May | $12,572 | $12,979.83 | $15,377.75 | 537.8% |
| June | $12,980 | $13,392 | $15,838.50 | 556.9% |
| July | $13,388 | $13,804.17 | $16,299.25 | 576% |
| August | $13,796 | $14,216.33 | $16,760 | 595.1% |
| September | $14,204 | $14,628.50 | $17,220.75 | 614.3% |
| October | $14,612 | $15,040.67 | $17,681.50 | 633.4% |
| November | $15,020 | $15,452.83 | $18,142.25 | 652.5% |
| December | $15,428 | $15,865 | $18,603 | 671.6% |
| All Time | $13,184 | $13,598.08 | $16,068.88 | 566.5% |
In the next year, Ethereum price could still be hovering in the current range. Based on the prediction data, ETH’s trade range extends from $3,001.19 to $4,651.84. This outlook is based on the previous data. However, if ETH breaks the trend, it could go much higher.
The long-term outlook extending from 2025 to 2029, Ethereum price could hit a high of $18,603 with the lowest point being $3,000.
Ethereum Price Forecast Between 2030 & 2050
2030
2031
2032
2033
2040
2050
| January | $16,092.58 | $16,559.25 | $19,264.08 | 699% |
| February | $16,757.17 | $17,253.50 | $19,925.17 | 726.4% |
| March | $17,421.75 | $17,947.75 | $20,586.25 | 753.8% |
| April | $18,086.33 | $18,642 | $21,247.33 | 781.3% |
| May | $18,750.92 | $19,336.25 | $21,908.42 | 808.7% |
| June | $19,415.50 | $20,030.50 | $22,569.50 | 836.1% |
| July | $20,080.08 | $20,724.75 | $23,230.58 | 863.5% |
| August | $20,744.67 | $21,419 | $23,891.67 | 890.9% |
| September | $21,409.25 | $22,113.25 | $24,552.75 | 918.4% |
| October | $22,073.83 | $22,807.50 | $25,213.83 | 945.8% |
| November | $22,738.42 | $23,501.75 | $25,874.92 | 973.2% |
| December | $23,403 | $24,196 | $26,536 | 1000.6% |
| All Time | $19,747.79 | $20,377.63 | $22,900.04 | 849.8% |
| January | $24,169.83 | $24,997.58 | $27,711.08 | 1049.4% |
| February | $24,936.67 | $25,799.17 | $28,886.17 | 1098.1% |
| March | $25,703.50 | $26,600.75 | $30,061.25 | 1146.8% |
| April | $26,470.33 | $27,402.33 | $31,236.33 | 1195.6% |
| May | $27,237.17 | $28,203.92 | $32,411.42 | 1244.3% |
| June | $28,004 | $29,005.50 | $33,586.50 | 1293.1% |
| July | $28,770.83 | $29,807.08 | $34,761.58 | 1341.8% |
| August | $29,537.67 | $30,608.67 | $35,936.67 | 1390.5% |
| September | $30,304.50 | $31,410.25 | $37,111.75 | 1439.3% |
| October | $31,071.33 | $32,211.83 | $38,286.83 | 1488% |
| November | $31,838.17 | $33,013.42 | $39,461.92 | 1536.7% |
| December | $32,605 | $33,815 | $40,637 | 1585.5% |
| All Time | $28,387.42 | $29,406.29 | $34,174.04 | 1317.4% |
| January | $33,881.25 | $35,131.33 | $42,063 | 1644.6% |
| February | $35,157.50 | $36,447.67 | $43,489 | 1703.8% |
| March | $36,433.75 | $37,764 | $44,915 | 1762.9% |
| April | $37,710 | $39,080.33 | $46,341 | 1822.1% |
| May | $38,986.25 | $40,396.67 | $47,767 | 1881.2% |
| June | $40,262.50 | $41,713 | $49,193 | 1940.4% |
| July | $41,538.75 | $43,029.33 | $50,619 | 1999.5% |
| August | $42,815 | $44,345.67 | $52,045 | 2058.6% |
| September | $44,091.25 | $45,662 | $53,471 | 2117.8% |
| October | $45,367.50 | $46,978.33 | $54,897 | 2176.9% |
| November | $46,643.75 | $48,294.67 | $56,323 | 2236.1% |
| December | $47,920 | $49,611 | $57,749 | 2295.2% |
| All Time | $40,900.63 | $42,371.17 | $49,906 | 1969.9% |
| January | $49,768.50 | $51,484 | $59,820.33 | 2381.1% |
| February | $51,617 | $53,357 | $61,891.67 | 2467.1% |
| March | $53,465.50 | $55,230 | $63,963 | 2553% |
| April | $55,314 | $57,103 | $66,034.33 | 2638.9% |
| May | $57,162.50 | $58,976 | $68,105.67 | 2724.8% |
| June | $59,011 | $60,849 | $70,177 | 2810.7% |
| July | $60,859.50 | $62,722 | $72,248.33 | 2896.6% |
| August | $62,708 | $64,595 | $74,319.67 | 2982.5% |
| September | $64,556.50 | $66,468 | $76,391 | 3068.4% |
| October | $66,405 | $68,341 | $78,462.33 | 3154.3% |
| November | $68,253.50 | $70,214 | $80,533.67 | 3240.3% |
| December | $70,102 | $72,087 | $82,605 | 3326.2% |
| All Time | $59,935.25 | $61,785.50 | $71,212.67 | 2853.7% |
| January | $72,550.17 | $75,090.58 | $85,513 | 3446.8% |
| February | $74,998.33 | $78,094.17 | $88,421 | 3567.4% |
| March | $77,446.50 | $81,097.75 | $91,329 | 3688% |
| April | $79,894.67 | $84,101.33 | $94,237 | 3808.6% |
| May | $82,342.83 | $87,104.92 | $97,145 | 3929.2% |
| June | $84,791 | $90,108.50 | $100,053 | 4049.9% |
| July | $87,239.17 | $93,112.08 | $102,961 | 4170.5% |
| August | $89,687.33 | $96,115.67 | $105,869 | 4291.1% |
| September | $92,135.50 | $99,119.25 | $108,777 | 4411.7% |
| October | $94,583.67 | $102,122.83 | $111,685 | 4532.3% |
| November | $97,031.83 | $105,126.42 | $114,593 | 4652.9% |
| December | $99,480 | $108,130 | $117,501 | 4773.5% |
| All Time | $86,015.08 | $91,610.29 | $101,507 | 4110.2% |
| January | $102,603.75 | $110,953.42 | $120,084.17 | 4880.7% |
| February | $105,727.50 | $113,776.83 | $122,667.33 | 4987.8% |
| March | $108,851.25 | $116,600.25 | $125,250.50 | 5095% |
| April | $111,975 | $119,423.67 | $127,833.67 | 5202.1% |
| May | $115,098.75 | $122,247.08 | $130,416.83 | 5309.2% |
| June | $118,222.50 | $125,070.50 | $133,000 | 5416.4% |
| July | $121,346.25 | $127,893.92 | $135,583.17 | 5523.5% |
| August | $124,470 | $130,717.33 | $138,166.33 | 5630.7% |
| September | $127,593.75 | $133,540.75 | $140,749.50 | 5737.8% |
| October | $130,717.50 | $136,364.17 | $143,332.67 | 5844.9% |
| November | $133,841.25 | $139,187.58 | $145,915.83 | 5952.1% |
| December | $136,965 | $142,011 | $148,499 | 6059.2% |
| All Time | $119,784.38 | $126,482.21 | $134,291.58 | 5470% |
Between 2023 and 2050, Ethereum’s price will most likely follow the bullish outlook and aim for the six-digit territory. The lowest price point is $16,092.58, and the highest price of Ether is $145,915.83.
ETH’s Sell Signal Hints at Ethereum Price Crash
The daily Ethereum price chart shows a clear sell signal that hints at an incoming correction. This sell signal is in the form of a bearish divergence noted between the price and the Relative Strength Index (RSI). A bearish divergence is formed when price produces higher high while RSI produces lower highs, denoting a lack of momentum backing up the up trending price. The result of this non-conformity is a correction.
Considering that Ethereum price currently faces both the declining trend line and horizontal resistance level as a blockade, a short-term correction is likely. If Bitcoin drops, ETH could follow suit and trigger a 17% crash to $2,886. This key support level is a good place for accumulation before Ether triggers its next leg up.
The following bounce from $2,886 needs to overcome the $3,500 hurdle to climb to $4,000, a key psychological level.
On the other hand, if Bitcoin’s price fails to drop lower and trigger a reversal, then ETH will look stronger than other altcoins. It could break above $3,500 and preemptively catalyze a run to $4,000. This move will invalidate the short-term correction thesis.
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Banks across the United States and Europe are ramping up efforts to issue stablecoins, fueled by evolving regulatory clarity and market demand.
The introduction of the EU’s Markets in Crypto-Assets Regulation (MiCA) and growing global interest in blockchain-based payment solutions have prompted traditional financial institutions to compete with established crypto firms like Tether Holdings.
European Banks Enter Stablecoin Market
A number of European banks have started to implement their own stablecoins to capture their share of a market that is said to earn billions of dollars in profit every year. The France-based Societe Generale – Forge (SG-Forge) has now opened its Euro-backed stablecoin for retail investors. In the same vein, the Frankfurt based Oddo BHF SCA and the London based Revolut are also looking to launch Euro stablecoins, while AllUnity, another issuer backed by Deutsche Bank’s asset management arm DWS, intends to launch its Euro stablecoin in 2025.
According to Jean-Marc Stenger, the CEO of SG-Forge, more banks will adopt bank-issued stablecoins; he simply said, “Yes”. SG-Forge is currently in discussions with about ten banks as potential partners or users of SG-Forge stablecoin issuing technology.
Similarly, Visa Inc., the global payments technology company, is also working with banks such as BBVA to create a stablecoin solution using blockchain. Cuy Sheffield, the head of crypto at Visa, stated that the company is currently in talks with institutions in Hong Kong, Singapore and Brazil.
US Banks Await Regulatory Green Light
In the United States, banks are keen on the legislation changes that can permit them to offer stablecoins. As the regulatory environment is being discussed, some banks such as JPMorgan Chase has already started testing payment systems that are based on blockchain. While JPMorgan has used its deposit token, JPM Coin in internal transfers, it does not possess the same open connectivity that is characteristic of stablecoins that can be accessed with any crypto wallet.
Naveen Mallela, co-head of JP Morgan’s digital assets division Kinexys, said that they are anticipated to gain more market acceptance in the next three years. He pointed out that stablecoins and tokenized deposits could both work side by side as different payment methods.
However, there are still certain issues that can be considered as problematic for US banks. There is ambiguity on which types of reserves are allowed to back stablecoins and if the deposits would be eligible for federal insurance. These problems should not be overlooked because, as the experts point out, they may lead to some confusion in periods of financial turmoil.
MiCA Brings Stablecoin Regulatory Clarity in Europe
The regulation of MiCA is a major milestone for stablecoin issuers in Europe as it will come into force on the 30th of December 2024. MiCA ensures that stablecoin providers have proper licenses to offer their services in the EU and also sets down some guidelines on reserve management and investor protection.
1/ 🧵 MiCA is here! Starting Dec 30, 2024, the EU’s groundbreaking crypto regulation takes effect.
What does this mean for crypto providers, stablecoins like $USDT and $USDC, and investors?
Let’s break it down 👇 pic.twitter.com/dgMG5DVC0D
— Fefe Demeny (@FefeDemeny) December 28, 2024
Circle’s USDC stablecoin has already been approved under MiCA and can now be used more extensively across the region. However, Tether Holdings, the market leader, has not mentioned plans for obtaining a license for the Euro pegged stablecoin. Experts claim that this could open up possibilities for banks as well as rivals to step in the niche.
Meanwhile, the European Central Bank has expressed concerns about the potential impact of stablecoins on traditional banking. A recent ECB study found that converting retail deposits into stablecoins could weaken a bank’s liquidity coverage ratio.
Central Banks and Consortium Coins
While commercial banks move to issue stablecoins, central banks are actively developing central bank digital currencies (CBDCs). These government-backed digital currencies could eventually compete with or replace bank-issued stablecoins in wholesale payment systems.
Avtar Sehra, CEO of Libre Capital, noted, “Everyone is exploring some form of commercial bank digital currency. But many may prefer consortium coins.” Several banks are reportedly considering forming alliances to create shared blockchain-based tokens for broader interoperability and efficiency.
Concurrently, Ripple’s RLUSD stablecoin which debuted on December 16, 2024 quickly gained traction in the global crypto market. Moreover, the RLUSD was recently listed on Independent Reserve, a licensed crypto exchange in Singapore.
Kelvin Munene Murithi
Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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Solana (SOL) and the team are often in the news for the asset’s price performance and developments. However, things have turned different this time, as Elisa Rossi has pulled the Solana co-founder, Stephen Akridge, in a significant Solana Controversy, including staking reward thefts and much more. Let’s discuss the whole story.
Who is Elisa Rossi and Her Relation To Stephen Akridge?
Elisa Rossi was married to Stephen Akridge for 10 years before the couple got separated in February 2023. The couple had quite a long journey together and grew rich and famous, especially with Stephen’s role in Solana, the third biggest blockchain network. At present, SOL price sits at $187 with a market capitalization of $89.4B. However, Akridge moved away from Solana Labs in January 2024 and has launched Anza. He is also the CEO of Cyber Grant, which is a cybersecurity company.
The couple got divorced in early 2023 but are now in the limelight after Rossi sued Akridge. Rossi has openly called the divorce acrimonious and prolonged in a recent lawsuit. This Solana controversy highlighted the importance of understanding crypto distribution and management among spouses.
Stephen Akridge’s Sued in Staking Reward Theft
The Bloomberg report states that Rossi has sued her ex-husband, the Solana co-founder, for claims that Stephen used his crypto knowledge to steal millions of staking rewards from her portion of crypto. As a divorce settlement, Elisa Rossi received a significant portion of digital assets in three crypto wallets from her ex-husband, per Law.com. However, she had to file the lawsuit in San Francisco court after she realized that Stephen stole the staking commissions from her portion.
The alleged crypto steal happened between March and May when Akridge still controlled her crypto accounts and stole the stalking commission for himself by directing her SOL to his control. Rossi claimed that she found out about this two months after the divorce and has reached out to him over a dozen times in the last few months, but he has failed to do so and even laughed in her face, saying, “Good luck getting those staking rewards from me,” per lawsuit filings.
Overall, Rossi has sued Stephen Akridge for failing to adhere to divorce agreements, crypto theft, and fraud, and unfairly embezzling her money. With the Solana controversy and lawsuit, she wishes to receive compensation for the financial losses her husband has caused her. She also requests additional punitive or statutory exemplary damages and judgment interest per legal obligations.
Does it Impact the Crypto Industry?
Stephen Akridge’s lawsuit has gained significant attention from crypto enthusiasts, but it is a personal matter and does not really affect the performance of Solana or the crypto industry. However, this Solana controversy shows how people should have a decent knowledge of cryptocurrency and its functioning, considering its wide adoption and usage. In many cases, spouses like Elisa Rossi have faced similar crypto asset distribution issues due to unawareness. More importantly, in general, crypto scams have disturbed people’s lives. The most recent being Pudgy Penguin’s phishing scams targeting NFT holders.
Pooja Khardia
With a deep-seated passion for reading and five years of experience in content writing, Pooja is now focused on crafting trending content about cryptocurrency market.
As a dedicated crypto journalist, Pooja is constantly seeking out trending topics and informative statistics to create compelling pieces for crypto enthusiasts. Staying abreast of the latest trends and advancements in the field is an integral part of her daily routine, fueling a commitment to delivering timely and insightful coverage
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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In a series of surprising events, the GMT price began skyrocketing, especially today, as it’s up 40%. It’s surprising, as the token has been under a major downtrend and consolidation for years. Interestingly, the token is up when the crypto market is falling, gaining every investor’s attention. So, let’s discuss why the FSL ecosystem’s native token is pumping out of the blue.
GMT Price Booming With Increased Trading Volume & OI
STEPN GMT’s price began rising around a month ago, but it fell short and declined again with the crypto market’s downtrend. After that, it hit the month’s bottom at $0.129 before starting a recovery three days ago. This happened because investors’ trading activity increased its demand. This becomes clearer when the 24-hour trading volume hits $1.92B after a 228.37% surge. Additionally, the Coinglass reports reveal a 63% increase in Open Interest.
As a result, the GMT token’s price has surged 40% over the last 24 hours. More importantly, it’s up by 60% over the week, pushing its market capitalization to $621.89M. Interestingly, there is no significant reason behind this increased investor interest, but there was a spike in short liquidations in December. Although this suggests that traders are betting against the current surge, they got liquidated with the GMT price rally.
Eventually, the shorts began rebuying the assets and accelerating the STEPN token price. However, in contrast, the crypto exchange has witnessed an increased inflow of the GMT token. If this inflow or dumping continues, it could eventually affect the GMT price. Additionally, a possible Bitcoin price crash to $60k could influence the entire crypto market’s performance, including GMT.
Will GMT’s Price Rally Sustain?
After a 60% rally over the week, the GMT chart is forming an inverse head and shoulders pattern, which is a sign of a potential bullish reversal. Additionally, the RSI is bullish, adding to the previous outlook, but it’s near the overbuying zone, which could change things in the long term.
However, the Awesome Oscillator is flipping bullish as it attempts to flip above the zero mean level. With that, a breakout above $0.248 could push the STEPN GMT token to $0.4155. However, the price could drop to $0.161 before this breakout, but any move down to $0.161 could disturb the bullish momentum. Careful consideration and strategic trades need to be placed between these zones.
What Investor’s Should Do?
The FSL ecosystem’s token hit its prime around three and half years ago when it achieved the ATH of $4.11. However, with years of struggle, the target has moved 95% away from that, putting the long holder in a major loss. However, the current situation has opened the opportunity for immediate gains, as the GMT price is constantly moving upwards. As a result, the investors are also getting ready for sale with the inflows rising on the crypto exchanges. Clear strategic planning and careful trades are needed to earn profits, as the STEPN GMT token’s chart forms an inverse head and shoulders pattern. This could push the price to $0.4155 and higher if things went well.
Pooja Khardia
With a deep-seated passion for reading and five years of experience in content writing, Pooja is now focused on crafting trending content about cryptocurrency market.
As a dedicated crypto journalist, Pooja is constantly seeking out trending topics and informative statistics to create compelling pieces for crypto enthusiasts. Staying abreast of the latest trends and advancements in the field is an integral part of her daily routine, fueling a commitment to delivering timely and insightful coverage
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Source link
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