Here are three reasons that partly contributed to ETH recent price drop Ethereum Crypto
noted that there was a huge spike in ETH's supply on exchanges just before the price sank. It was noted that this spike was due to Binance moving ETH from an unlabeled wallet to an existing labeled one., massive crypto fund transfers were spotted involving Binance wallets. One massive transfer of 2.37 billion USDT between two Binance cold wallets and another large transfer of 1.49 million ETH went to a Binance 8 wallet.
If the supply on exchanges continues to rise, it might mean that holders are offloading their coins onto the market.Experts are issuing warnings regarding the possibility of replay attacks occurring after the Merge update scheduled for September. During the Ethereum upgrade in 2016, the network was under constant attack from so-called replay attacks, in which hackers replayed user transactions to obtain tokens. Participants in the industry have already announced safety measures.
After raising its benchmark rate by three-quarters of a percentage point at each of its previous two policy meetings, investors will be listening closely for any hints about how the U.S. central bank is thinking about the pace of interest rate increases leading up to its Sept. 20-21 policy meeting.
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