The post Why former Bank of America strategist sees an Ethereum ‘tactical bottom’ appeared on BitcoinEthereumNews.com.
Stephen Suttmeier, former Head of Technical Strategy at Bank of America, believes Ethereum could be forming a “tactical bottom.” In his recent analysis report, Suttmeier said that if the price stays above $1690-$1700, it would support his thesis of the altcoin forming a tactical low above its June lows. Another confirmation for this bottoming pattern would be a reclaim of $1800. His projection was based on technical analysis, particularly using moving averages (MA) to gauge short- and long-term momentum shifts. As of press time, the Ethereum [ETH] price has briefly stalled below the 50-day MA (DMA). Should the 50DMA be decisively reclaimed as support (ETH price above $1800), the next upside target would be the 200-day MA(blue line) at $2.2K, Suttmeier added. That would imply a 25% upside potential if the $2.1K obstacle is cleared. Source: ETH/USDT, TradingView In fa
The post Specter Flags CodexField as a Potential $85M Rug Pull appeared on BitcoinEthereumNews.com.
On-chain investigator Specter flagged CodexField as a potential rug pull tied to $85M in activity. Specter traced $17.3M moving from TRON to Ethereum, with $10.8M still linked to tracked wallets. BNB Chain previously promoted CodexField after its 2023 Hackvolution hackathon win. On-chain sleuth Specter has flagged CodexField as a potential rug pull after tracing more than $85 million in project-linked activity across blockchains. The alert followed the movement of $17.3 million in USDT from TRON toward Ethereum before conversion into DAI through Bitget Swap on Polygon. Specter said $6.5 million had already moved, while another $10.8 million remained linked to the tracked wallets. Cross-Chain Transfers Put Project Wallets Under Scrutiny According to the investigation, the funds originated from Ethereum about six months earlier via a wallet linked to the project’s deposit contract. The a
The post Ripple Cuts RLUSD Ethereum Supply to $692 Million appeared on BitcoinEthereumNews.com.
According to recent data from Ripple Stablecoin Tracker, Ripple USD (RLUSD) supply on the Ethereum network has shrunk to about $692 million as Ripple continues to adjust the stablecoin’s circulating supply through token burns. At the start of July, RLUSD supply on Ethereum was above $727 million; now this figure has decreased, with millions in Ripple USD burned on the Ethereum network in the last seven days. $115.4 million was burned on the Ethereum blockchain in the last seven days as seen on the Ripple Stablecoin Tracker website, while $49.3 million was minted in the same timeframe. On July 29 alone, $25.9 million was burned on the Ethereum blockchain while $6.2 million in RLUSD was minted. ‘Not Happening’: Former SWIFT Exec Shuts Down XRP Integration Rumors XRP, Shiba Inu, Solana (SOL) and Ethereum (ETH) Price Analysis for June 10: Market Fuel Comes In Handy The last 30 days saw significa
The post Founders Debate Ethereum L2 Value After Robinhood Chain Launch appeared on BitcoinEthereumNews.com.
Ethereum L2 debate returns as Robinhood launches an ETH-denominated Layer-2 network. Founders debate whether Layer-2s strengthen Ethereum or shift activity from its base layer. Leighton Cusack said Ethereum’s value comes from ETH adoption, liquidity, and asset issuance. The role of Ethereum in the Layer-2 ecosystem is back in focus after the launch of Robinhood’s Ethereum-denominated Layer-2 network. World Network co-founder Leighton Cusack argued that recent bullish developments are being framed as negatives because of weak market sentiment. Cusack said Ethereum has been “so abused for the last two years” that even positive news, like Robinhood launching an ETH-denominated L2, is being portrayed negatively. “Narratives follow price,” he added. L2s and Ethereum’s Value Capture In response, Multicoin Capital managing partner Kyle Samani repeated his long-held view that Layer-2
The post Ethereum Outflows Prompt $15.81 Million BlackRock Transfer to Coinbase Prime appeared on BitcoinEthereumNews.com.
In a significant financial maneuver, BlackRock has moved 8,700 Ethereum (ETH) valued at approximately $15.81 million to Coinbase Prime, a well-regarded platform for institutional trading, custody, and execution services. This movement aligns with a surge in outflows from BlackRock’s spot Ethereum ETF, signaling ongoing market volatility and tepid investor sentiment towards Ethereum-based investment platforms. Continue Reading:Ethereum Outflows Prompt $15.81 Million BlackRock Transfer to Coinbase Prime Source: https://en.bitcoinhaber.net/ethereum-outflows-prompt-15-81-million-blackrock-transfer-to-coinbase-prime
The post Robinhood Chain Users Hit by Scam Token Losses appeared on BitcoinEthereumNews.com.
Relay says scam tokens vanished after purchase but wallets and private keys remained secure. Robinhood Chain users reported losing funds after buying malicious memecoins. Robinhood Chain topped $70M in bridged ETH as network activity kept expanding. Robinhood Chain has recorded high growth in trading activity and bridged assets since its launch, but the network is also facing reports of scam tokens affecting early participants. Relay Protocol confirmed that some users have purchased illicit tokens made to disappear from their wallets immediately after a transaction, leading to permanent losses of the funds used to make those purchases. The clarification came as social media users shared screenshots and complaints after seeing newly purchased memecoins vanish from their wallets, raising concerns about token safety on the recently launched Ethereum Layer 2 network. Relay Says Scam Tokens Are Resp
The concentration of Ethereum nodes in the US and reliance on few cloud providers pose risks to network security and could impact price stability.
The post Cambridge research reveals 31% of Ethereum node activity concentrated in the US appeared first on Crypto Briefing.
The post Ethereum ETF Moves Raise Eyebrows as BlackRock Transfers 8,700 ETH appeared on BitcoinEthereumNews.com.
BlackRock, a prominent asset management firm, recently moved 8,700 ETH, equating to around $15.81 million, to Coinbase Prime. This transfer is significant within the blockchain community as it coincides with growing outflows from BlackRock’s Ethereum ETF, ETHA. Continue Reading:Ethereum ETF Moves Raise Eyebrows as BlackRock Transfers 8,700 ETH Source: https://en.bitcoinhaber.net/ethereum-etf-moves-raise-eyebrows-as-blackrock-transfers-8700-eth
