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⚡️Ethereum Foundation, Vitalik Buterin-Linked Wallets On Selling Spree, ETH Price Drop🧐🔻
CoinGape Media
September 09, 2024
News
Wallets linked to the Ethereum Foundation and Vitalik Buterin have been actively selling ETH leading to the ongoing ETH price selling.
Ethereum wallets belonging to the Ethereum Foundation and associated with Vitalik Buterin have been on a strong selling spree leading to continuous ETH selling pressure. Last week, the ETH price dropped to $2,150 before recovering back partially amid the huge sell-off. The investor sentiment around the Ethereum price has turned largely bearish as Ethereum struggles to see any revenue boost with analysts raising doubts over its future performance.
US crypto legislation finds no mention in recently in recent Kamala Harris policy decisions as the VP's popularity drops in poll survey.
While the Crypto4Harris campaign has been making every effort to prop up the image of Kamala Harris in the crypto industry, the Vice President continues with her stand of not showing any support. In her latest announcements on policy decisions, there’s no mention of crypto anywhere. On the other hand, New York Senator Chuck Schumer who once promised US crypto legislation by the year, backtracks on his word.
Apple AI features likely to go live next week with iPhone 16 launch which could be a major trigger for next AI coin rally in crypto.
Apple is all set for the iPhone 16 launch on Monday, gearing up for a major push to generative AI by introducing it to its consumers of iPhones, iPads, and Macs. The Apple AI push could lead to an AI coins rally in the crypto market next week, after the recent selling pressure.
Markets
The crypto prices today have maintained recent gains, igniting investor optimism. BTC price briefly topped $55K, while ETH price jumped slightly.
The crypto prices today have mainly continued embarking on an upward trajectory. Bitcoin (BTC) price pumped gained in the past 24 hours to briefly top $55K. Whilst, Ethereum (ETH), Solana (SOL), and XRP noted slight gains at press time. Simultaneously, the global cryptocurrency market cap also jumped nearly 1% to $1.95 trillion today. Moreover, the total market volume surged roughly 10% to $46.53 billion.
Friday's weak Jobs data led to Bitcoin price crash and $300 million in liquidations. Will Bitcoin rally after this correction?
Bitcoin price has crashed nearly 4% after Friday’s weak US Nonfarm Payrolls (NFP) data. The US jobs report came in cooler than expectations, tilting the odds in bears’ favor. As a result, BTC and the broader crypto markets tanked, leading to $300 million in liquidations on September 6.
Ethereum price today trades at $2,285 and may struggle to recover soon despite Bitcoin showing signs of a potential bottom formation.
Ethereum price today trades at $2,286 after crashing 6% in the past 24 hours. Investors must be cautious as ETH whales that sold during the 2021 bull run and around the all-time high (ATH) are selling again.