NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Major Win For Memecoins: SEC Affirms They Typically Do Not Qualify As Securities
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Major Win For Memecoins: SEC Affirms They Typically Do Not Qualify As Securities

$30m in Ethereum Entered Huobi in 7 Days: Why It Is Bad for ETH Prices

Martin Young
Martin Young
5 years ago
2 mins read
ethereum

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Ethereum is not having the greatest start to 2020. Prices are dumping again from levels which are already at rock bottom as more ETH gets liquidated on exchanges.

Ethereum Keeps Dumping

Since New Year’s day ETH has dumped over 5% and the rout has continued for the third day of the month. Support at $130 has turned resistance as the world’s number two slid back to $125 a couple of hours ago according to Tradingview.com.

ethereum

Yesterday’s Muir Glacier upgrade has done nothing for Ethereum prices as was the case with Istanbul last month. Hard forks and network improvements have little effect on markets these days.

Since its 2019 peak ETH has dumped 65% and it doesn’t look like recovering any time soon.

The cause appears to be a massive liquidation on major exchanges. As observed by trader ‘CryptoGainz’ Huobi has been flooded with $30 million in Ethereum over the past week.

“Oh, you know, just a casual +235k net inflow of $eth to huobi over the last 7 days.”

https://twitter.com/CryptoGainz1/status/1212911261782028288

Since this exchange is popular in China the dump is likely to be the remnants of the PlusToken scam being liquidated. Huge Ethereum dumps occurred last month as PlusToken wallets were emptied. It was suggested at the time that the scammers could manipulate Ethereum prices for a long time to come.

In reality they appear to be just offloading their ill-gotten gains so prices are likely to recover as Ethereum fundamentals improve or crypto markets turn bullish again.

Nevermind the FUD

Aside from scammers and whales manipulating markets and encouraging the bears, Ethereum is fundamentally solid.

A growing DeFi ecosystem based on ETH proves that the token is evolving into the internet of money. The amount of ETH locked in DeFi has hit another all-time high of 3 million according to Defipulse.com.

DeFi

There is also renewed optimism for ETH 2.0, the first stages of which will be rolled out this year as observed by crypto analysts.

“Super excited to see $ETH pull off Ethereum 2.0 this year. Definitely going to be the biggest crypto moment of the year.”

The entire rollout of the completely new ETH 2.0 platform is still a couple of years away but the first proof of stake Beacon Chain is likely to be activated later this year.

This will herald an entirely new way to earn with Ethereum through running a node or staking rewards which major exchanges are likely to offer.

Ethereum is having a rough time at the moment but there is light at the end of the digital tunnel.

Image from Shutterstock
Tweet123Share207ShareSend
Martin Young
Martin Young

Martin Young

Martin is a Southeast Asia based info-tech, cyber security, and cryptocurrency analyst with 20 years working in web technology and media.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Crypto

Economic Turmoil: Crypto Market Loses 25% Of Value As Recession Worries Mount

The crypto market is experiencing a significant downturn this week, driven by growing concerns over a potential trade war and...

Ronaldo Marquez 3 weeks ago
Ethereum Price Turns Bearish Below $2,000

Ethereum Price Turns Bearish Below $2,000—More Losses Ahead?

Ethereum price failed to clear the $2,120 resistance and trimmed gains. ETH is now consolidating and facing hurdles near the...

Aayush Jindal 3 weeks ago
Ethereum

Ethereum Price Maintains Movement Inside Ascending Triangle, Is Another Crash Coming?

Crypto analyst Trend Diva has provided an in-depth analysis of the current Ethereum price action. She revealed that ETH is...

Scott Matherson 3 weeks ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Ethereum, ETH, Crypto

Ethereum Risks Another 15% Correction After Fall Below $2,000 – What’s Next For ETH?

Rubmar Garcia 3 weeks ago
Ethereum

Ethereum, Dogecoin Lead Large Cap Losses As Bitcoin Moves Into Bear Market Territory

Scott Matherson 3 weeks ago
Crypto expert: top 3 opkomende crypto investeringen tijdens bekende crypto crash

Crypto expert: top 3 opkomende crypto investeringen tijdens bekende crypto crash

Lars Diederiksen 3 weeks ago

Premium Partners

Top Brands

Press Releases

  • LimeChain

    LimeChain – Builders of Web3 Step into the FIA...

    4 weeks ago
  • Ripple XRP Investors Making $13,000 Per Day with This Cloud...

    4 weeks ago
  • How To Make $99k Daily Despite Crypto Market Fluctuations...

    4 weeks ago
  • EstateX Sells Out the First Tokenized Property in Under...

    4 weeks ago
  • BlackFort Exchange Network (BXN) Joins Biconomy.com...

    4 weeks ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.