Ethereum risks another 60% drop after breaking below $1K to 18-month lows

The price of Ethereum’s native token, Ether (ETH), careened below $1,000 on June 18 as the ongoing sell-off in the crypto market continued despite the weekend. Ether reached $975, its lowest level since January 2021, losing 80% of its value from its record high in November 2021. The decline appeared amid concerns about the Federal Reserve’s 75 basis points rate hike, a move that pushed both cryptocurrencies and stocks into a strong bear market. “The Federal Reserve has barely started raising rates, and for the record, they haven’t sold anything on…

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North Korea-obsessed Ethereum dev gets 5 years for breaking sanctions

Virgil Griffith, a former Ethereum (ETH) developer has been sentenced to 63 months in prison and will pay a fine of $100,000 for attending a conference and assisting North Korea use blockchain technology in contravention of economic sanctions imposed by the United States. On Tuesday, April 12, U.S. District Judge Kevin Castel of the Southern District of New York handed down the decision. Judge Castel stated that “what you see here is intentionality, a deliberate, willful intent to violate the sanctions’ regime,” adding that the crime was made worse because…

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The FBI’s takedown of Virgil Griffith for breaking sanctions, firsthand – Cointelegraph Magazine

Ethereum developer Virgil Griffith took a plea deal after breaking sanctions against North Korea and was formally sentenced earlier today— the final chapter in a two-year journey as bizarre as it is shocking. Journalist Ethan Lou, author of Once a Bitcoin Miner, attended the infamous event in North Korea at which Griffith spoke. He was asked to submit a statement for Griffith’s sentencing, although that statement was ultimately not filed with the court. Here he tells the inside story of what happened.   Pyongyang, April 18, 2019 Virgil Griffith had…

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3 reasons why Lido DAO Token could be on the verge of breaking its downtrend

Ethereum (ETH) and decentralized finance (DeFi) are undergoing a seismic shift as the transition to Eth2 and a proof-of-stake consensus mechanism is helping to increase the value proposition for the network which has historically has been plagued with scaling issues and high transaction costs.  Alongside this transition has been the introduction of liquid staking, which is helping to add utility to DeFi and giving investors the option to do more with their assets than just lock them up indefinitely.  Liquid staking could also help investors build more capital efficient portfolios.…

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Ethereum Breaking This Confluence Resistance Could Spark a Fresh Surge

Ethereum gained pace above the $2,700 resistance against the US Dollar. ETH price could extend gains if there is a clear move above the $2,800 resistance. Ethereum gained pace above the $2,650 and $2,750 resistance levels. The price is now trading above $2,700 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $2,640 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to rise if it clears the $2,800 resistance zone. Ethereum Price Remains Supported Ethereum…

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Ethereum Breaking This Confluence Resistance Could Spark a Significant Surge

Ethereum is still above the $4,250 support against the US Dollar. ETH price could stage a strong rally if it clears the $4,450 resistance zone in the near term. Ethereum is stable and supported above the $4,200 and $4,250 levels. The price is now trading above $4,300 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $4,320 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh rally if it clears the key $4,450 resistance…

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Bitcoin Breaking This Confluence Resistance Could Spark Recovery

Bitcoin is attempting an upside correction above $57,000 against the US Dollar. BTC could gain pace if there is a close above the $58,000 resistance. Bitcoin is facing resistance near the $58,000 and $58,500 levels. The price is now trading near $57,500 and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $57,100 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair must settle above $58,000 to start a fresh increase in the near term.…

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Ethereum price poised for 40% rally vs. Bitcoin after breaking out of four-month range

Ethereum’s native token Ether (ETH) faces the prospect of logging a 40% price rally against its top rival Bitcoin (BTC), per a classic technical pattern. Dubbed Symmetrical Triangle, the structure develops after the price forms a series of higher lows and lower highs. Doing so results in a convergence of two trendlines with a degree of symmetry, which appears like a Triangle. Analysts treat Symmetrical Triangles as trend continuation indicators, i.e., they usually send prices in the direction of their previous trend following a clear breakout. As a result, the ongoing…

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