Ethereum price took a major hit like Bitcoin and dropped over $350. ETH tested the $2,000 support and is currently attempting a fresh increase.

Ethereum declined over 8% and broke the $2,200 support zone.
The price is trading below $2,300 and the 100-hourly Simple Moving Average.
There was a break below a key bullish trend line with support near $2,340 on the hourly chart of ETH/USD (data feed via Kraken).
The pair could rise again unless there is a close below the $2,100 support zone.

Ethereum Price Took A Major Hit

Ethereum price climbed further higher above the $2,300 level. ETH even cleared the $2,350 level but the bears remained active near the $2,400 zone. A high was formed near $2,401 and there was a sharp decline like Bitcoin.

The price declined over 8% and there was a move below the $2,200 level. Besides, there was a break below a key bullish trend line with support near $2,340 on the hourly chart of ETH/USD. The pair even spiked below the $2,000 support before the bulls appeared.

A low was formed near $1,980 and the price is now attempting a recovery wave. There was a move above the $2,150 and $2,180 levels. The price climbed above the 50% Fib retracement level of the downward move from the $2,401 swing high to the $1,980 low.

Source: ETHUSD on TradingView.com

On the upside, the price is facing resistance near the $2,275 zone. The next key resistance is near the $2,300 level or the 76.4% Fib retracement level of the downward move from the $2,401 swing high to the $1,980 low. A clear move above the $2,300 zone could send the price toward the $2,400 level. The next resistance sits at $2,450. Any more gains could start a wave toward the $2,500 level.

Another Decline in ETH?

If Ethereum fails to clear the $2,300 resistance, it could start another decline. Initial support on the downside is near the $2,180 level.

The next key support is $2,120. The main support is now near $2,100. A downside break below $2,200 might start an extended decline. The key support is now at $2,000, below which there is a risk of a move toward the $1,880 level in the near term.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone.

Hourly RSI – The RSI for ETH/USD is now below the 30 level.

Major Support Level – $2,100

Major Resistance Level – $2,300

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Bitcoin price started a sharp decline after trading close to $45,000. BTC is down over 8% but the bulls seem to be active above $40,000.

Bitcoin is showing a few bearish signs from the $44,699 high.
The price is trading below $43,500 and the 100 hourly Simple moving average.
There was a break below a key bullish trend line with support near $43,500 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could find strong buying interest near the $40,000 zone.

Bitcoin Price Drops Heavily

Bitcoin price remained in a bullish zone after it broke the $40,000 resistance. BTC climbed higher steadily above the $42,000 and $43,000 levels. The price even rallied above $44,000.

However, it failed to test the $45,000 resistance. A high was formed near $44,699 and the price started a sharp downside correction. There was a move below the $44,000 level. Besides, there was a break below a key bullish trend line with support near $43,500 on the hourly chart of the BTC/USD pair.

The pair declined below the 50% Fib retracement level of the upward move from the $39,398 swing low to the $44,699 high. Bitcoin is now trading below $43,500 and the 100 hourly Simple moving average.

However, the bulls are protecting the $40,000 support and the 76.4% Fib retracement level of the upward move from the $39,398 swing low to the $44,699 high. The price is attempting a recovery wave and facing resistance near the $42,400 level.

Source: BTCUSD on TradingView.com

The first major resistance is forming near $43,2000, above which the price might gain bullish momentum and rise toward $44,000. A close above the $44,000 resistance might start a strong upward move. The next key resistance could be near $44,200, above which BTC could rise toward the $45,000 level.

$40K Is The Key For BTC

If Bitcoin fails to rise above the $43,200 resistance zone, it could start another decline. Immediate support on the downside is near the $41,200 level.

The next major support is near $40,500, below which the price might test the $40,000 zone. If there is a move below $40,000, there is a risk of more downsides. In the stated case, the price could drop toward the $38,500 support in the near term.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 30 level.

Major Support Levels – $41,200, followed by $40,000.

Major Resistance Levels – $42,400, $43,200, and $44,200.

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Why Are NFTs Bad? This pressing question underscores today’s heated discussions around Non-Fungible Tokens (NFTs). Despite the buzz, many investors are left grappling with unsellable NFTs, questioning their value and security. This article cuts through the noise to examine the critical issues and legal challenges surrounding NFTs.
We navigate the complex NFT laws, dissect the reasons behind the unsellable nature of some digital assets, and address the underlying problems fueling the skepticism. With focused insights, we aim to shed light on the darker aspects of NFTs to answer the question: are NFTs bad?

Why Are NFTs Bad?

The question “Why are NFTs bad?” resonates in the digital world, particularly among those cautious about the rapidly evolving blockchain technology. NFTs, or Non-Fungible Tokens, have garnered attention for their unique ability to represent ownership of digital assets. However, beneath the surface of this innovative technology lies a web of concerns that have led many to question their overall value and impact.

Understanding NFTs: A Brief Overview

NFTs are digital tokens that represent ownership of unique items, using blockchain technology to certify authenticity and ownership. Each NFT stands out as distinct, unlike cryptocurrencies such as Bitcoin or Ethereum, which are fungible and allow for one-to-one exchanges. They can represent anything digital, such as art, music, or even tweets.

NFTs derive their uniqueness from granting a feeling of exclusivity and ownership over digital assets, which have traditionally been easily replicated and distributed. By tokenizing these assets on a blockchain, NFTs create a digital scarcity and a verifiable way to claim ownership.

However, the rise of NFTs has not been without controversy. Their detractors point to several key issues: technical issues questioning the longevity of NFTs, the potential for market manipulation, and the creation of a speculative bubble where the value of digital assets is highly uncertain. Furthermore, the legal landscape surrounding NFTs is still evolving, with questions about copyright and ownership rights at the forefront.

Exploring The Main Question: Why Are NFTs Bad?

While NFTs have their benefits, the growing concerns cannot be overlooked. The main question, “Why are NFTs bad?” stems from several critical issues associated with their use and functionality.

Technical Challenges And Longevity Concerns

The appeal of NFTs on blockchains such as Ethereum is diminished by various technical challenges, raising questions about their long-term viability and dependability as digital assets. Here are some technical reasons for “why are NFTs bad”:

Off-Blockchain Asset Storage: Most NFTs, especially on Ethereum, link to digital assets like images stored off the blockchain due to Ethereum’s size and cost constraints. These assets are often hosted on platforms like IPFS (InterPlanetary File System), not directly on the blockchain.
External URL Vulnerability: The use of external storage like IPFS raises questions about the longevity and accessibility of the linked digital assets. The potential obsolescence of these platforms poses a risk to the permanence of NFTs.
Blockchain-Specific Uniqueness: The uniqueness of an NFT is limited to its native blockchain, like Ethereum. The same asset can be tokenized on different blockchains, challenging the notion of uniqueness.
Duplicate NFT References: NFTs can reference the same digital asset via HTTP links, leading to multiple NFTs for a single asset within the same blockchain, contrary to their non-fungible nature.

Market Manipulation And Speculative Bubble

The NFT market is not just a platform for digital creativity but also a hotbed for speculation and potential market manipulation, raising significant concerns. Following are some market-related reasons for “why are NFTs bad”:

Speculative Investments: NFTs have become symbols of speculative investment, with prices often driven by hype rather than intrinsic value. High-profile sales, like that of Beeple’s artwork, have attracted a wave of investors looking to capitalize on potential market booms. This speculation can inflate prices artificially, creating a bubble where the value of NFTs is grossly overestimated.
Risk Of Market Manipulation: The NFT marketplace is vulnerable to manipulation due to its relatively unregulated nature and the opacity of transactions. There have been instances where artists or sellers artificially inflate the value of an NFT by purchasing their own assets through third parties. This tactic creates a false impression of high demand and value, luring unsuspecting buyers into overpaying.
Impact Of Celebrity Endorsements: The involvement of celebrities and influencers in promoting NFTs further fuels the speculative bubble. Their endorsements can lead to rapid spikes in prices and interest, often without a sustainable basis. While celebrity involvement has brought mainstream attention to NFTs, it also raises questions about the genuine value and long-term viability of these assets.
Volatility And Unsustainability: High volatility marks the NFT market, featuring significant fluctuations in value. This instability renders NFT investments risky, especially for individuals not deeply familiar with the digital asset landscape.

Legal Ambiguity

The burgeoning world of NFTs is mired in legal ambiguities, making it a complex landscape to navigate for creators, collectors, and investors alike. Below are some legal reasons for “why are NFTs bad”:

Unclear Copyright And Ownership Rights:

One of the fundamental legal challenges with NFTs is the ambiguity surrounding copyright and ownership rights. Purchasing an NFT often grants the buyer ownership of a unique token, but not necessarily the copyright of the underlying digital asset. This distinction can lead to confusion and disputes over what buyers are actually entitled to when they acquire an NFT.

Varying International Laws:

The legal recognition of NFTs varies significantly across different jurisdictions. While some countries may have specific regulations governing digital assets, others lack clear guidelines. This inconsistency presents challenges, particularly in cases involving cross-border transactions or disputes.

Smart Contract Complexities:

NFTs operate on smart contracts—self-executing contracts with the terms of the agreement directly written into code. However, the legal status of these contracts is not always clear. Issues arise when smart contracts, which are immutable once deployed, contain errors or do not align with legal standards. Rectifying these issues can be complicated and may require litigation.

Regulatory Uncertainty:

The regulatory landscape for NFTs is still in its infancy. Financial regulators in various countries are grappling with how to classify NFTs—whether as securities, commodities, or a completely new asset class. This lack of regulatory clarity adds to the uncertainty, particularly regarding compliance with existing financial laws and anti-money laundering (AML) requirements.

Liability And Consumer Protection:

The decentralized nature of NFT marketplaces often leaves consumers with limited recourse in cases of fraud, theft, or disputes. In such scenarios, the issue of liability remains mostly unresolved, and consumer protection mechanisms are not as strong as those in traditional financial markets.

NFT Pros And Cons

The world of Non-Fungible Tokens (NFTs) presents a mixed bag of advantages and drawbacks. Understanding these pros and cons is essential for anyone looking to engage with NFTs, whether as creators, collectors, or investors.

Pros Of NFTs:

Digital Ownership And Provenance: NFTs provide a clear proof of ownership and provenance for digital assets. They enable artists and creators to monetize digital works, which were previously easy to replicate and difficult to sell as unique pieces.
Market Expansion For Artists: NFTs have opened up new markets for digital artists and creators, allowing them to reach a global audience. This democratization of art sales has empowered artists, especially those outside the traditional gallery system.
Innovation And Creativity: The NFT space encourages innovation and creativity, particularly in digital art and multimedia. It has sparked new forms of artistic expression and collaboration.
Collectibility And Investment: For collectors, NFTs offer a new avenue for investment in digital art and collectibles. The unique nature of NFTs makes them appealing as collectible items.

Cons Of NFTs:

Technical Issues: On blockchains like Ethereum, NFTs present several technical issues, questioning their longevity. Being aware of these issues is crucial.
Market Volatility And Speculation: The NFT market is highly volatile, with values fluctuating dramatically. This instability, coupled with speculative investments, poses risks for buyers and sellers.
Intellectual Property Issues: The legal ambiguity around copyright and ownership rights in NFTs creates complications for intellectual property law. Buyers might not fully understand what rights they are acquiring, leading to potential legal disputes.
Accessibility And Inclusivity Issues: Despite their potential for democratizing art, NFTs also pose challenges in terms of accessibility and inclusivity. The technical and financial barriers to entry can be high, limiting participation to a more tech-savvy and financially capable audience.

The Dark Side: Unsellable NFTs And Market Risks

The world of NFTs is not just about innovation and lucrative opportunities. There’s a darker side to this market, characterized by the phenomenon of unsellable NFTs and significant market risks that raise critical questions about the overall safety and soundness of investing in these digital assets. This adds another layer to the question “why are NFTs bad.”

The Reality Of Unsellable NFTs

While NFTs have been sold for staggering amounts, the reality is that not all NFTs find buyers, leading to a growing concern over unsellable NFTs. Several factors contribute to this situation:

Market Saturation: As more creators and investors flood into the NFT space, the market is becoming increasingly saturated. This saturation makes it harder for individual NFTs to stand out, reducing their likelihood of being sold.
Speculative Nature: Many NFTs are bought for speculative purposes, with the hope of reselling for a profit. When the speculation bubble bursts, or if the hype dies down, the value of these NFTs can plummet, making them difficult to sell.
Lack Of Intrinsic Value: Some NFTs may lack intrinsic artistic or collectible value, being created solely for the purpose of capitalizing on the trend. These NFTs may struggle to find a market.
Liquidity Issues: The NFT market is not as liquid as other investment markets. Selling an NFT, especially at a desired price point, can be challenging and time-consuming.

Platforms like Unsellable specialize in purchasing these low-value NFTs for tax write-off purposes.

Are NFTs Bad?

The question “Are NFTs bad?” is complex. NFTs themselves are a neutral technology with potential for positive use, such as supporting artists and creating unique digital experiences. However, the issues of market saturation, speculative bubbles, and technical concerns add a negative aspect to this technology. The answer largely depends on how NFTs are used and the awareness of the buyers and sellers about the risks involved.

Are NFTs Safe?

The safety of investing in NFTs is a matter of perspective and depends on various factors:

Technical Issues: NFTs on Ethereum face several problems that investors should be aware of.
Market Volatility: The high volatility of the NFT market can lead to significant financial risks for investors.
Legal and Technical Risks: As discussed earlier, there are legal ambiguities and technical challenges associated with NFTs, which can impact their long-term viability.
Scams And Fraud: The NFT space, like any emerging market, is susceptible to NFT scams and fraudulent activities, which can pose risks to less experienced investors.

NFT Laws: Legal Challenges

Navigating the complex legal landscape of NFTs poses a challenge, given that these digital assets intersect various aspects of law in ways that are still evolving and being defined. The dynamic and rapidly evolving nature of NFTs has left lawmakers and stakeholders working to catch up with the legal implications which adds another argument to the question “why are NFTs bad”.

NFT Laws Decoded

The application of existing laws to NFTs is a challenging task, primarily because NFTs are a novel concept that doesn’t fit neatly into traditional legal categories. Intellectual property rights are at the forefront of legal concerns. When someone purchases an NFT, they acquire a token that represents ownership, but the extent of this ownership is often misunderstood. It rarely includes the right to reproduce or distribute the underlying digital asset, leading to potential legal disputes over copyright infringement and ownership rights.

Consumer protection laws are also critical in the NFT marketplace. These laws are designed to protect buyers from deceptive practices. However, the decentralized and often anonymous nature of blockchain transactions makes the enforcement of such laws challenging. The risk of fraud and misrepresentation is high, and buyers may find themselves with limited recourse in cases of dispute.

The classification of NFTs under financial regulations is another area of legal ambiguity. The structure and nature of certain NFTs might classify them as securities. For example, the US Securities and Exchange Commission charged Stoner Cats 2 for conducting an “unregistered offering of crypto asset securities,” depending on their specific characteristics. This categorization subjects them to stringent regulatory requirements, including registration and disclosure obligations under securities laws. However, the lack of clear guidance from regulatory bodies creates uncertainty for NFT issuers and investors.

NFT Legal Issues: A Detailed Analysis

Legal issues in the NFT space are diverse and multifaceted. Copyright and ownership disputes are common, particularly as the lines between digital ownership and copyright ownership are blurred. These disputes often involve multiple parties, including artists, digital platforms, and collectors, each with differing interpretations of their legal rights.

Smart contracts, which are the backbone of NFT transactions, present their own set of legal challenges. While these contracts are designed to be self-executing and immutable, they are not immune to legal scrutiny. Disputes can arise when the terms encoded in smart contracts conflict with statutory laws or when there are errors in the code. The resolution of such disputes often requires litigation, which can be complex and costly.

Taxation of NFT transactions is an emerging area of legal concern. The tax implications for buying, selling, or creating NFTs are not straightforward, and tax authorities are still determining how to apply existing tax laws to these transactions. This uncertainty complicates financial planning for participants in the NFT market and raises the risk of unintended tax liabilities.

The Evolving Landscape Of NFT Legality

As the NFT market continues to grow, so does the legal framework that surrounds it. Governments and regulatory bodies worldwide are beginning to recognize the need for specific regulations that address the unique aspects of NFTs. These emerging regulations aim to provide clarity and stability to the market, but they also bring new compliance challenges.

The global nature of NFT transactions adds another layer of complexity. NFTs are often bought and sold across international borders, bringing into play different legal jurisdictions and regulatory standards. Harmonizing these diverse legal systems is a daunting task and one that is critical for the development of a cohesive global NFT marketplace.

Legal cases involving NFTs are increasingly making their way through courts, setting important precedents that will influence future legal interpretations and regulations. These cases cover a range of issues, from copyright disputes to the enforceability of smart contracts, and their outcomes will have significant implications for the NFT industry.

In conclusion, the legal challenges surrounding NFTs are as dynamic and multifaceted as the technology itself. From intellectual property concerns to regulatory compliance, the legal aspects of NFTs require careful navigation. As the market evolves, so too will the laws and regulations that govern it, shaping the future of this innovative digital asset class.

The Problem With NFTs

The world of Non-Fungible Tokens (NFTs) is marked not only by innovation and opportunity but also by significant problems that raise concerns and contribute to the question, “Why are NFTs bad?”.

Analyzing More Of The Problem With NFTs

A closer look reveals several underlying problems with NFTs:

Perceived Value Vs. Real Value: A core problem with NFTs is the disconnect between their perceived and real value. The worth of many NFTs is often driven by hype and speculation rather than tangible artistic or utilitarian value. This discrepancy can lead to a volatile market where prices do not reflect the true value of the underlying digital asset.
Cultural And Ethical Concerns: The NFT craze has raised cultural and ethical questions. It challenges traditional notions of art ownership and creation, potentially commodifying artistic expression in unprecedented ways.
Impact On Artistic Integrity: For artists, the lure of NFTs can sometimes lead to a compromise in artistic integrity. The pressure to create content that is more likely to sell in the NFT market can influence artistic decisions, potentially leading to a homogenization of digital art.
Accessibility And Digital Divide: The NFT ecosystem tends to favor those with access to specific technological resources and knowledge. This digital divide excludes a large segment of potential creators and collectors, particularly those from underprivileged backgrounds or regions with limited access to advanced technology.

Blockchain Legal Issues

Earlier discussions have addressed the legal challenges of blockchain, the underlying technology of NFTs, but further exploration reveals additional nuances worth considering:

Data Privacy Concerns: Blockchain’s transparency and immutability, while strengths, also raise data privacy concerns. Once on the blockchain, information becomes almost impossible to remove, potentially leading to privacy issues, especially with personal data involved.
Smart Contract Liabilities: Smart contracts are prone to coding errors or unforeseen legal implications. These liabilities can lead to complex legal scenarios where the responsibilities and liabilities of parties in a blockchain transaction are unclear or disputed.
Cross-Border Enforcement: Enforcing legal decisions across borders is a significant challenge in blockchain transactions. When a dispute arises, the international and decentralized nature of blockchain makes it difficult to enforce judgments or legal actions.
Emerging Legal Frameworks: As governments and regulatory bodies start to catch up with blockchain technology, new legal frameworks are emerging. These frameworks aim to address the unique challenges posed by blockchain but also create a shifting legal landscape that can be difficult for participants to navigate.

In conclusion, the problems with NFTs extend beyond simple technical or market issues, encompassing broader cultural, ethical, and legal challenges. As the NFT space matures, addressing these multifaceted problems will be crucial for its sustainable and responsible growth.

FAQ: Why Are NFTs Bad?

This FAQ section aims to succinctly address some key questions surrounding NFTs, especially everything about the questions “why are NFTs bad?”

Why Are NFTs Bad?

Critics often target NFTs for their environmental impact, market volatility, and legal uncertainties. Concerns also include the potential for exacerbating the digital divide. The perspective on whether NFTs are “bad” varies based on individual viewpoints and contexts.

NFT Laws: What Investors Should Know?

Investors should note that the legal framework around NFTs is evolving. Key considerations include copyright and financial regulations, as well as the market’s inherent volatility and potential legal risks.

Are NFTs Unsellable?

Not all NFTs are unsellable, but market saturation and fluctuating values can affect their salability. The speculative nature of the market adds to the uncertainty regarding the sale and value of NFTs.

Are NFTs Bad?

Whether NFTs are “bad” is subjective. While they offer innovative digital asset ownership, their environmental costs, potential for market manipulation, and legal challenges are significant drawbacks.

What Is The Problem With NFTs?

The main issues with NFTs include environmental concerns, market instability, accessibility challenges, and legal ambiguities, highlighting the need for sustainable practices and clear regulations.

What’s The Problem With NFTs?

NFTs face environmental, economic, legal, and ethical challenges, including energy consumption, market fluctuation, and impacts on artistic and cultural values.

Are NFTs Legal?

NFTs are legal, but they operate in a complex regulatory landscape that varies across regions. The legality involves considerations around transactional frameworks and compliance with existing laws.

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In the crypto space, a concerning trend has emerged: the rise in cryptocurrency deaths. These incidents, ranging from crypto billionaires dying under mysterious circumstances to alarming reports of crypto murders, have captivated and concerned the entire community. This article aims to unravel the complexities behind these tragic events, focusing on the specific phenomenon of crypto deaths, including cryptocurrency billionaire deaths and the notable crypto murders that have recently made headlines.

Understanding The Phenomenon Of Cryptocurrency Deaths

Cryptocurrency deaths have become a disturbingly frequent headline in recent years. This trend encapsulates the unexpected and often unexplained passing of prominent figures in the cryptocurrency world, ranging from billionaires to lesser-known enthusiasts.

Understanding this phenomenon is not just about examining the cryptocurrency deaths themselves but also about exploring the unique intersection of high finance, digital anonymity, and the often unregulated nature of the cryptocurrency market. These factors create a milieu where both fortunes and lives can be made or lost in the blink of an eye, making the phenomenon of cryptocurrency deaths a critical issue for investors, regulators, and enthusiasts alike.

Why Crypto Deaths Matter

The significance of crypto deaths extends far beyond the immediate loss of life, resonating deeply within the cryptocurrency industry, affecting investor confidence, and influencing the broader perception of digital currencies. These incidents often lead to market uncertainty and instability, impacting the valuation of cryptocurrencies and eroding investor trust. Additionally, they raise critical questions about security, both personal and financial, in an industry where anonymity and lack of regulation can be perilous.

Furthermore, these stories serve as a stark warning to upcoming investors about the risks of publicly disclosing their crypto holdings. Bragging about crypto wealth on social media or in real life can attract unwanted attention, potentially leading to dangerous situations. It underscores the need for discretion and privacy in managing digital assets. Understanding why crypto deaths matter is essential in fostering a safer and more transparent environment for all participants in the cryptocurrency space, emphasizing the importance of security awareness in personal and financial matters.

The Rising Concern Of Cryptocurrency Deaths

The increasing incidence of cryptocurrency deaths in recent years has become a major concern for the global crypto community. While the cryptocurrency market has evolved with more regulatory frameworks in place as of 2023, the nature and implications of these deaths remain a critical issue. These incidents often involve prominent figures within the cryptocurrency sector and have varied causes, from personal accidents to more nefarious activities.

The heightened awareness around cryptocurrency deaths is partly due to their impact on the market and investor sentiment. The untimely demise of key individuals, particularly those holding significant influence or critical access to digital assets, can lead to market volatility and operational disruptions.

For instance, the death of a cryptocurrency founder or a key executive can create access issues to digital wallets or affect the governance of decentralized platforms, leading to financial and logistical complications for companies and investors alike.

List Of Crypto Deaths

While there are numerous instances of crypto-related deaths, below we have gathered some of the most attention-grabbing and impactful cases that have resonated within the cryptocurrency community:

Cryptocurrency Billionaire Deaths

The industry has witnessed the tragic and often mysterious cryptocurrency billionaire deaths, each case sending ripples through the financial and crypto communities. The deaths of these influential figures often have significant implications for market stability and investor confidence, reflecting the volatile and sometimes precarious nature of the crypto industry.

Nikolaj Mushegian

Nikolaj Mushegian was a prominent figure in the cryptocurrency world, known for his co-founding of the cryptocurrency lending platform MakerDAO and the decentralized Dai (DAI) stablecoin. His life came to a tragic end on October 28, 2022, when he was found dead in Puerto Rico, having drowned after being dragged by sea currents at Condado beach in San Juan.

The circumstances of his death raised eyebrows, especially considering a tweet he posted hours before his death, expressing fears of a threat to his life from the CIA, Mossad, and an alleged “pedo elite.”

This tweet and the mysterious nature of his death have fueled various conspiracy theories. However, the police found no evidence of violence on his body, aside from a small skull laceration possibly caused by the drowning incident​.

Javier Biosca

Javier Biosca’s death marked a dramatic end to a controversial career in the world of cryptocurrency. On November 22, 2022, he jumped from the fifth floor of a hotel in Estepona, Spain, in an apparent suicide. His life story was one of rags to questionable riches; he rose from being a failed hardware store owner to becoming one of Spain’s most notorious crypto scammers.

Biosca was accused of orchestrating the biggest crypto scam in Spanish history. His death came at a time when he was embroiled in legal troubles and facing allegations of defrauding investors through his crypto dealings. The manner of his death and his involvement in the crypto world added him to the list of sinister and mysterious cryptocurrency deaths associated with the cryptocurrency industry​​​​​.

Fernando Pérez Algaba

Fernando Pérez Algaba, a millionaire crypto influencer, met a gruesome end in Argentina. His dismembered remains were discovered by a group of children in a suitcase near a stream in Buenos Aires. Prior to his death, Algaba had reportedly received threatening messages, including threats to cut out his eyes and chop off his hands.

An autopsy revealed that he had been shot three times before being dismembered. The police launched a murder investigation, and while the motive behind his killing remains unascertained, it is speculated that his death was related to his numerous debts. Algaba’s tragic demise highlights the darker side of the cryptocurrency world, where significant wealth can sometimes attract perilous attention​​.

Mircea Popescu

Mircea Popescu, aged 41 and known as a Bitcoin billionaire, was found dead off the coast of Costa Rica on June 23. He was reportedly drowned while swimming at Playa Hermosa, a location noted for its massive waves. Popescu was recognized as one of the largest owners of Bitcoin and a controversial figure in the cryptocurrency community.

The circumstances of his death, particularly the drowning during an early morning swim, led to various speculations about the fate of his extensive cryptocurrency holdings. Popescu’s death not only shed light on the personal risks associated with high-profile figures in the crypto world but also raised questions about the management and transfer of digital assets posthumously​​​​​​​.

Bob Lee

Bob Lee, renowned as the creator of Cash App and a key executive at the cryptocurrency firm MobileCoin, met a tragic end in a violent incident. He was fatally stabbed in downtown San Francisco on April 6, 2023. This horrific act of violence not only shook the tech and crypto communities but also raised concerns about personal safety among high-profile individuals in these sectors.

Following the incident, the San Francisco Police Department arrested Nima Momeni in connection with Lee’s killing. The nature of their acquaintance and the motive behind the attack are aspects of an ongoing investigation. Lee’s untimely death is a stark reminder of the potential dangers that can accompany prominence in the rapidly evolving world of technology and cryptocurrency.

Gerald Cotten

Cotten, the founder of Canadian crypto exchange QuadrigaCX, died under mysterious circumstances in India. His death led to significant speculation, including theories that he faked his own death as part of an elaborate exit scam.

Cotten was the only person with access to the exchange’s funds, leaving millions in cryptocurrencies inaccessible to investors. This case has been widely discussed and even became the subject of a Netflix documentary, highlighting the complexities and risks associated with cryptocurrency exchanges and their management​​.

Notable Cases Of Crypto Deaths & Crypto Murders

Beyond cryptocurrency billionaire deaths, the industry has witnessed a series of notable cases that encompass both mysterious crypto deaths and outright murders. From high-profile figures to lesser-known individuals, the stories of these crypto deaths and murders serve as cautionary tales, underscoring the need for heightened security and vigilance in the cryptocurrency community.

Christian Peev Crypto

Plumbers clearing a clogged sewer in Bulgaria discovered the headless and partially skeletal remains of Christian Peev, an American crypto investor. Before this discovery, a relative had reported him missing. New evidence suggests that his friend, Vesco Valchinov, may have murdered him. At the time of his death, 41-year-old Peev had reportedly built a significant fortune in the cryptocurrency market.

Authorities later apprehended Vesco Valchinov, a bartender Peev had met years earlier, and an accomplice, suspecting them of murdering Peev with a dumbbell at his home. The speculation is that monetary motives were behind the killing.

Abdul Shakoor

Abdul Shakoor, aged 35 and alleged to be the mastermind behind a Rs 450-crore (approximately $62.5 million) Bitcoin scam in India, was tortured to death by his own team members. His body was dumped at a private hospital on the Dehradun-Mussoorie road.

The incident unfolded after Shakoor’s failed investment scheme led to significant financial losses for his team. This brutal act of violence underscores the potentially deadly consequences of fraudulent activities in the crypto space and the extreme reactions they can provoke​​​​​.

Tiantian Kullander

Tiantian Kullander, a notable figure in the cryptocurrency world and co-founder of Hong Kong-based digital asset company Amber Group, passed away unexpectedly at the age of 30. He died in his sleep on November 23, as confirmed by the company on its website.

His sudden death came as a shock to the cryptocurrency community, especially considering his young age and the influence he had in the industry. Kullander’s passing is a significant loss to the crypto world, reflecting the untimely and unexpected nature of some of the cryptocurrency deaths.

Vjacheslav Taran

Vjacheslav Taran, a Russian cryptocurrency billionaire and chairman of the Libertex Group, died in a helicopter crash while en route to Monaco. The 53-year-old was the sole passenger in the flight from Lausanne in Switzerland.

His death is one of several recent fatal accidents involving cryptocurrency leaders. Taran’s death not only adds to the list of mysterious and untimely fatalities in the crypto world but also raises questions about the safety and risks faced by high-profile individuals in this volatile industry​​​.

John Forsyth

A week after he went missing, people found John Forsyth, founder of the cryptocurrency project Onfo and a former Bitcoin millionaire, dead with gunshot wounds. They discovered his body at Beaver Lake in northwestern Arkansas. Dr. Forsyth, an ER doctor and a crypto advocate, had reportedly suffered a gunshot wound to the head.

While authorities at the time did not suspect foul play, the circumstances of his death remained largely unexplained, adding to the growing list of mysterious incidents in the crypto world. Forsyth’s death underscores the unpredictability and potential dangers that individuals associated with cryptocurrency might face​​​​​​​.

Vinay Naik

Vinay Naik, a share trader in Pune, India, became a victim of a kidnapping and extortion plot due to his possession of Bitcoin. In February 2022, at least eight individuals, including a policeman from the Pune cybercrime cell, were involved in this criminal act. The policeman, having learned about Naik’s Bitcoin holdings, collaborated with others to kidnap Naik with the intention of extorting the Bitcoin from him.

Aiden Pleterski

Individuals reportedly kidnapped and tortured Aiden Pleterski, known as the “Crypto King,” in a dramatic and violent incident, demanding a ransom of at least $3 million. Pleterski, who led a lavish lifestyle, had allegedly defrauded investors out of millions, leading to his abduction. The incident highlights the risks associated with fraudulent activities in the crypto market and the potential for such activities to escalate into serious personal harm​​.

Peter Vuong

Peter Vuong, a 26-year-old individual associated with the cryptocurrency industry, was the victim of a shocking abduction in Sydney, Australia. On March 9, 2023, a group of six men wearing face masks and armed with sledgehammers and guns ambushed Vuong at his home in Smithfield. They then took him to a property in Belmore, where they allegedly held him. The circumstances surrounding Vuong’s abduction underline the potential dangers faced by those involved in the crypto industry, especially in cases where significant financial transactions and investments are involved​​​​​.

Mysterious Crypto Deaths: Analyzing The Causes

The perplexing pattern of mysterious cryptocurrency deaths within the cryptocurrency industry, particularly among its high-profile figures, necessitates a deeper examination of potential underlying causes. While each case is unique, there are several common factors that may contribute to these tragic outcomes:

Target For Criminal Activities: Individuals involved in cryptocurrency, especially those known to have substantial holdings, can become targets for criminal activities. This includes kidnapping, extortion, and even murder, as criminals seek to exploit their wealth.
Mental Health Challenges: The high-pressure environment of the cryptocurrency market, characterized by its rapid pace and extreme volatility, can take a toll on individuals’ mental health. This may lead to increased stress, anxiety, and in some cases, tragic outcomes like suicide.
Accidental Circumstances: Some crypto deaths have occurred under accidental circumstances, such as drowning or other unforeseen incidents. These accidents may be a result of the adventurous or high-risk lifestyles that some individuals in the crypto space lead.
Internal Conflicts And Disputes: The cryptocurrency industry is known for its intense competition and internal conflicts. Disputes over assets, business partnerships, or intellectual property can escalate to dangerous levels, potentially leading to violent outcomes.
Lifestyle And Personal Risks: The lifestyle of some individuals in the cryptocurrency space can involve risks, including traveling to unstable regions, dealing with unvetted business partners, or engaging in high-risk activities. Such factors can inadvertently increase the likelihood of fatal incidents.

Crypto Murders: A Real Threat?

The spate of cryptocurrency deaths raises the question: Are crypto murders a real and significant threat? Persons associated to crypto have an increased risk of being targeted for violence. This threat is multifaceted and stems from several factors:

High Value Targets: Substantial crypto assets are are lucrative targets. The relative ease of transferring and hiding cryptocurrency compared to traditional assets makes it an attractive target for criminals.
Public Exposure: High-profile individuals in the crypto space often have a significant public presence, whether through media or social platforms, inadvertently exposing them to potential threats.
Lack Of Physical Security: Cryptocurrency enterprises differ from traditional financial companies in that they operate in a decentralized and informal manner. They do not adhere to standard physical security practices, often leading to the oversight of personal security.
Internal Disputes: The competitive and sometimes secretive nature of cryptocurrency ventures can lead to intense internal disputes or rivalries, which may escalate into violence.
Anonymity And Untraceability: The anonymous nature of cryptocurrency transactions can make it difficult to trace the perpetrators of crimes, thereby increasing the likelihood of criminal activities.

While not all cryptocurrency deaths are due to crimes, the number of cases involving violence or suspicious circumstances indicates that crypto murders are a real threat. This underscores the importance of heightened security measures and awareness among those involved in this industry.

Bitcoin Deaths: Case Studies – A General Overview

The mysterious cryptocurrency deaths associated with Bitcoin and the broader cryptocurrency market have raised serious concerns about the safety and risks involved in dealing with digital currencies. While specific cases like those of Gerald Cotten and Yevgeny Prigozhin grab headlines, a broader examination reveals a troubling pattern of incidents connected to the cryptocurrency world.

Observable Patterns

Frequency of Incidents: There has been a noticeable increase in the number of cryptocurrency deaths related to Bitcoin and cryptocurrencies. These include not only high-profile entrepreneurs and investors but also lesser-known individuals who have significant involvement in the market.
Nature Of Cryptocurrency Deaths: The deaths vary in nature, ranging from suicides, accidents, and natural causes to more sinister scenarios like murder, kidnapping, and extortion. This diversity highlights the range of risks associated with being a part of this market.
Underlying Causes: Several factors contribute to these tragic outcomes. The high stakes involved in cryptocurrency trading and investment, the public profiles of many involved in the market, and the anonymous and decentralized nature of cryptocurrency transactions can make individuals targets for criminal activities or lead to high-pressure situations with severe personal consequences.
Impact on the Community: Each death within the Bitcoin community sends shockwaves through the market, affecting investor confidence and raising questions about the safety and security of digital currency transactions.
Need for Better Security: These incidents underscore the need for improved personal and financial security measures for individuals involved in the cryptocurrency market. As the market grows, the need for robust safety protocols becomes increasingly critical to protect those involved from potential harm.

2023: A Year Of Cryptocurrency Deaths?

In 2023, the cryptocurrency industry witnessed a concerning trend – a significant increase in mysterious murders and cryptocurrency deaths. Notable cases include the deaths of Nikolai Mushegian, Javier Biosca, Tiantian Kullander, Vyacheslav Taran, and others, summing up to at least eleven individuals closely connected to the cryptocurrency space who died within the year.

FAQs On Cryptocurrency Deaths

Why Are Crypto Billionaires Dying?

Cryptocurrency billionaire deaths occured due to a range of factors, including targeted criminal activity because of their wealth, personal or professional disputes, or the high-pressure lifestyle that accompanies such high-stakes investment and trading.

How Many Cryptocurrency Deaths In 2023?

No one has recorded the exact number of crypto deaths in 2023.

What Are The Circumstances Surrounding The Bitcoin Deaths?

The circumstances surrounding ‘Bitcoin deaths’ vary widely from natural causes, accidental overdoses, suicides, to murders. Each case has its own set of circumstances that can be quite complex.

Are Bitcoin Murders A Growing Concern?

Yes, Bitcoin murders and crimes associated with cryptocurrency are a growing concern as the value and prominence of digital currencies increase.

What’s Behind The Rise In Crypto Killings?

The increased exposure and wealth within the industry, making individuals targets for criminal activities, could be attributing to the rise in crypto killings.

What’s The Impact Of Cryptocurrency Murders On The Market?

Cryptocurrency murders can cause market volatility and may deter investment due to concerns over security and instability of a platform.

How Have Cryptocurrency CEO Deaths Influenced Company Policies?

Cryptocurrency CEO deaths have prompted companies to implement stricter security measures. Moreover, companies ensure decentralization of operational knowledge and access from a single individual.

What Led To The Crypto Millionaire Death?

Each crypto millionaire’s death has its own causes. Furthermore, it can range from personal choices to external threats.

Who Was The Canadian Cryptocurrency Death?

The ‘Canadian cryptocurrency death’ likely refers to Gerald Cotten, the CEO of QuadrigaCX, who died under mysterious circumstances in India.

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In this exploration, we tackle the critical question: Will Ethereum recover? We’ll look at Ethereums future and analyze ETH’s present market status, potential for resurgence, the anticipated impact of the progress on Ethereum 2.0, and share expert price predictions.

Will Ethereum Recover? Analysis

The question “Will Ethereum recover?” depends on numerous factors. As of November 2023, Ethereum has shown signs of rebounding from its 2022 lows, suggesting a potential bottoming out. Key developments like the transition to Proof-of-Stake and the introduction of EIP (Ethereum Improvement Proposal) 1559, launched all the way back in August 2021, which brings deflationary pressure on Ethereum’s supply, making it a more attractive investment.

Additionally, Layer 2 (L2) technologies are enhancing Ethereum’s scalability, addressing previous challenges of high transaction fees and slow speeds. Ethereum’s dominance in the smart contracts sector and its substantial role in the decentralized finance ecosystem further strengthen its recovery prospects. However, predicting the exact trajectory of Ethereum’s recovery remains complex, with varying forecasts suggesting both potential ups and downs in the near future.

Ethereums Future: Top-10 Factors Impacting ETH Price

These ten factors could be crucial for answering the question “Will Ethereum recover?“:

#1 Future Upgrades:

Ethereum’s development roadmap includes significant upgrades like Proto-Danksharding, also known as EIP-4844, and Full Danksharding, which could greatly impact its scalability and functionality. The successful implementation of these upgrades can boost confidence in the network and the Ethereums future price.

#2 Regulatory Approvals:

Regulatory decisions, such as the approval of a spot Ethereum Exchange Traded Fund (ETF) in the United States by the Securities and Exchange Commission (SEC), can have a substantial impact on Ethereum’s status as a digital asset. BlackRock filed for a spot ETH ETF in mid-November 2023.

#3 Overall Crypto Market Trends:

Ethereum’s performance is closely tied to the broader cryptocurrency market. A general uptrend in the crypto market, catalyzed by events like the Bitcoin halving, can positively influence Ethereum’s price.

#4 ETH Burn Rate:

Ethereum’s transition to a proof-of-stake (PoS) consensus mechanism includes a mechanism called EIP-1559, which introduces a fee-burning mechanism. The more ETH is burned in transactions, the scarcer it becomes, potentially increasing its value.

#5 Layer-2 Solutions:

The adoption and success of Ethereum layer-2 scaling solutions, such as Optimistic Rollups and zk-Rollups, can significantly improve the network’s scalability and reduce transaction fees. This could attract more users and developers.

#6 DeFi And NFT Activity:

Ethereum’s ecosystem heavily relies on DeFi (Decentralized Finance) and NFT (Non-Fungible Token) applications. Increased adoption and activity in these sectors can drive demand for ETH and positively impact its price.

#7 Competition:

Ethereum faces competition from other blockchain platforms like Solana and Cardano. The success or failure of these competitors can affect Ethereum’s market position.

#8 Macroeconomic Factors:

Economic events, such as inflation, monetary policy decisions, and global financial crises, can influence investors’ choices. Cryptocurrencies like Ethereum are sometimes seen as a hedge against traditional financial instability.

#9 Network Security:

The security of the Ethereum network is crucial. High-profile hacks or vulnerabilities can undermine trust in the platform and lead to price declines.

#10 Ecosystem Development:

The growth of the Ethereum ecosystem, including the number of dApps, users, and developers, can affect its adoption and value.

EIP-1559: Understanding The Ethereum Burn Rate

Ethereum’s burn rate is a key aspect of its economics, influencing both its supply dynamics and long-term valuation. To grasp the Ethereum burn introduced with EIP-1559, examining the latest data and understanding how this mechanism operates within the Ethereum ecosystem is crucial.

Ethereum Is “Ultra Sound Money”

EIP-1559 was a proposal that fundamentally restructured Ethereum’s fee market. Before this proposal, miners received the entire transaction fee. With activation on August 5, 2021, EIP-1559 introduced a base fee for transactions, which is burned (permanently removed from circulation), and only an optional tip is given to miners. This mechanism aims to make transaction fees more predictable and the network more efficient.

The “ultra sound money” meme emerged from the community in response to EIP-1559. It plays on the concept of “sound money,” a term traditionally used to describe money that is not prone to depreciation and is a reliable store of value, like gold.

With EIP-1559, Ethereum’s supply becomes more predictable and potentially deflationary—if the amount of ETH burned exceeds the new ETH issued, the total supply will decrease over time, hence the term “ultra sound money.” This is seen as an enhancement over “sound money,” with Ethereum not just maintaining its value but potentially increasing it due to the decreasing supply.

Ethereum Burn Rate Projections

The attached chart underscores the impact of these changes on Ethereum’s supply, especially post-EIP-1559, where the supply curve starts to flatten, suggesting a reduction in the growth of Ethereum’s total supply. This aligns with the concept of Ethereum becoming a deflationary asset post-EIP-1559, contributing to the narrative that Ethereum’s future could be as an “ultra sound” form of money.

On November 17, 2023, the Ethereum supply stood at 88 million ETH in accounts, 3.7 million ETH in contracts, and 28.5 million ETH in validators, totaling 120.3 million ETH. The dotted line indicates Ethereums future decrease in total supply due to the burning of ETH and the issuance changes post-Merge. The chart projects that the ETH supply will shrink to 117.7 million ETH in November 2025.

Ethereum’s Future: Will Ethereum Go Back Up?

In the realm of cryptocurrency, technical analysis serves as a navigational tool to gauge market sentiment and potential price movements. Examining the 1-week ETH/USD chart provides insight into Ethereum’s price action and helps address the burning question: “will Ethereum recover?”

Fibonacci Levels And Price Targets

The chart showcases several Fibonacci retracement levels, which are crucial in identifying potential support and resistance zones based on previous price movements. Here are the key Fibonacci retracement levels highlighted:

0.236: At $1,847, this level acts as a potential support zone.
0.382: $2,441 is the next key Fib level, displaying the next resistance.
0.5: The $2,922 level represents a psychological midpoint.
0.618: At $3,402, this level is often considered the ‘golden ratio,’ a significant reversal point.
0.786: $4,085 is a deeper retracement level that can signal strength in the prevailing trend.
1: The full retracement level at $4,956 marks a complete return to all-time high.
1.618: At $7,471, this extended Fib level could be the first long-term bullish target.
2.618: $11,540 represents an optimistic projection in a strong Ethereum bull run.
3.618: This level at $15,609 would be an extraordinary target for a sustained bull run.
4.236: The $18,123 Fib level is the highest projected target on the chart, indicating an extreme bull case scenario.

Trend Lines, Resistance Zones And RSI

The chart shows a black ascending trend line, tracing the lows and signifying a potential area of support that Ethereum’s price could respect. If the price maintains above this line, it may indicate continued bullish sentiment.
The red box, or resistance zone, around the Year-To-Date (YTD) high at $2,137 underscores a region where sellers have previously entered the market. Overcoming this zone is critical for Ethereum to continue its upward trajectory.

The Relative Strength Index (RSI), sitting at 48.07, shows Ethereum is neither in the overbought nor oversold territory. This indicates a neutral momentum, which could precede a move in either direction.

Conclusion: Will Ethereum Recover?

While the chart presents strong arguments for an Ethereum bull run, with ETH price sustaining above critical support levels and challenging notable resistance zones, the future price action will depend on how the market interacts with these technical indicators. If Ethereum can break through the resistance encapsulated by the YTD high, we could see an affirmative answer to “Will Ethereum recover?” However, it is imperative for investors to monitor these levels closely, as they serve as a roadmap, not a crystal ball.

Ethereum Price Prediction By NewsBTC’s Head Of Research

Tony “The Bull” Severino, NewsBTC’s Head of Research, has provided an in-depth analysis of Ethereum’s market behavior in his latest edition of Coin Chartist. He observes, “Ethereum has yet to begin trending with a reading above 20 on the ADX, nor has it broken above the upper Bollinger Band. But these signals are likely coming soon.” This suggests Ethereum’s significant uptrend might be on the horizon.

Comparing Ethereum with Bitcoin, Severino notes, “ETHUSD is much lower within the Ichimoku Cloud than BTCUSD,” indicating Ethereum is currently lagging behind Bitcoin. However, he anticipates Ethereum will soon “switch to over-performance.”

Highlighting a positive development, Severino states, “ETHUSD 1W was finally able to crack above its TDST downtrend resistance.” Yet, Ethereum needs to form a perfected TD9 series for further bullish confirmation. On the monthly chart, Ethereum’s overbought status on the Stochastic indicator suggests a strong trend, as Severino points out, “Each time the Stochastic has confirmed a 1M above 80 on the Stock, there was a massive push higher.”

Looking ahead, Severino underscores the importance of Ethereum’s performance against Bitcoin, “But if ETHBTC can push back above 20 this will generate a buy signal on the 1M Stochastic and kickstart Ether’s over-performance above Bitcoin.” This analysis provides a detailed perspective on Ethereum’s potential future trajectory in the crypto market.

Ethereum 2.0 Price Prediction

The continuous evolution of Ethereum through its 2.0 upgrades sets the stage for an optimistic price prediction. As the network becomes more scalable, secure, and sustainable, the intrinsic value of Ethereum is likely to increase.

The successful completion of the Shanghai/Capella upgrade, which introduced staking, is already a significant milestone that demonstrates the network’s commitment to its roadmap. Such advancements are expected to reinforce investor confidence and could catalyze a bullish outlook for Ethereums future price.

Ethereum 2.0 Roadmap

Ethereum 2.0 represents a series of upgrades aimed at improving the network’s scalability, security, and sustainability. Contrary to the previous term ‘ETH2’, the roadmap is now defined by more specific upgrade milestones:

Past and Completed Upgrades

The Merge: This critical upgrade on September 15, 2022 marked Ethereum’s transition from proof-of-work (PoW) to proof-of-stake (PoS) and was a foundational step in the Ethereum 2.0 roadmap, eliminating the need for energy-intensive mining.

Another key feature, staking withdrawals has already been enabled with the Shanghai/Capella upgrade, which went live on April 12, 2023​

Future Ethereum Upgrades

The Surge: The next phase involves scalability improvements through rollups and data sharding. Danksharding, a key component, aims to make layer 2 rollups cheaper by incorporating “blobs” of data into Ethereum blocks​​.
The Scourge: This phase focuses on ensuring censorship resistance, decentralization, and addressing protocol risks, such as those arising from miner extractable value (MEV).
The Verge: It is designed to make verifying blocks easier.
The Purge: This stage aims to reduce computational costs and simplify the protocol, making running nodes more efficient.
The Splurge: This includes miscellaneous upgrades that do not fit into the other categories but are essential for the network’s growth and enhancement​​.

The Ethereum community has replaced the term “Ethereum 2.0” with more specific names for each upgrade, providing clearer insight into the network’s transition and improvements. These upgrades aim to turn Ethereum into a fully scaled, resilient platform, capable of supporting a global decentralized application system. As implementation of these phases progresses, Ethereum’s growing appeal as an investment could positively influence its price predictions.

Proto-Danksharding: EIP-4844

EIP-4844 introduces “shard blob transactions” to enhance Ethereum’s data availability in a way that aligns with future full sharding plans. This proposal creates a new transaction format containing “blobs” – large data segments essential for rollups, a Layer 2 solution, but inaccessible for EVM execution. It serves as a temporary scaling solution, bridging the gap until full sharding implementation.

Notably, rollups have become increasingly important for scaling Ethereum, as they offer a way to execute transactions outside the main Ethereum chain (Layer 1) and then post the data back to Layer 1. EIP-4844’s format is expected to greatly reduce transaction fees for rollups by offering a cheaper data storage mechanism compared to current methods​​.

Full Danksharding

Full Danksharding, which advances from Proto-Danksharding, will likely further reduce costs for Layer 2 rollups. It introduces “blobs” in a format slated for use in the final sharding design. This includes a new transaction type and an independent fee market for these blobs.

Full Danksharding will build on Proto-Danksharding and aims to further cut Layer 2 rollups’ costs. It will comprehensively implement data availability sampling and essential components for a fully sharded Ethereum network, including proposer-builder separation and proof of custody. This approach aims to assign only a portion of the data to validators, reducing the network’s load and enhancing scalability.

Ethereum 2.0 Price Predictions: Will Ethereum Recover?

As Ethereum continues to progress with its 2.0 upgrades, the financial community has been actively speculating on its future value. Here are some Ethereum price predictions from renowned institutions and analysts, answering the question “will Ethereum recover”:

VanEck: The investment management firm predicts that Ethereum’s price could reach as high as $11.8k by 2030. This projection is based on their assessment that Ethereum’s network revenues could rise from $2.6 billion to $51 billion in 2030, assuming Ethereum captures a 70% market share among smart contract platforms.

Standard Chartered: Analysts at Standard Chartered are bullish on Ethereum’s long-term potential. They forecast that the price of ETH could hit $4,000 by the end of 2024 and double to $8,000 by the end of 2026. Their Ethereum bull run prediction is based on Ethereum’s established dominance in smart contract platforms and the potential for emerging uses in areas like gaming and tokenization. Moreover, they suggest that the upcoming Bitcoin halving in April 2024 could positively impact the broader crypto market, especially Ethereum​.

Also, the potential approval of a spot Ethereum ETF in the US could significantly impact Ethereum’s price. BlackRock, the world’s largest asset manager, filed for a spot Ethereum ETF in mid-November 2023. The approval of this ETF would mark a major milestone for Ethereum, potentially attracting more institutional and retail investments and substantially boosting Ethereum’s market price.

FAQ: Ethereums Future

Will Ethereum recover?

Ethereum’s recovery depends on various factors including market trends, technological advancements, and broader economic conditions. With ongoing upgrades like Ethereum 2.0, many analysts remain optimistic about its long-term potential.

Will Ethereum Go Back Up?

Many market experts predict Ethereum will go back up. They are citing improvements from Ethereum 2.0 and increasing adoption in DeFi, NFTs and traditional finance.

Where Is Ethereum Going?

Ethereum is transitioning to a more scalable, secure, and sustainable network with Ethereum 2.0. This is potentially leading to increased adoption and value.

What Is The Ethereum Burn?

The Ethereum burn, introduced in EIP-1559, permanently destroys a part of transaction fees, potentially creating deflationary pressure on Ethereum’s supply.

Is Ethereum Going Back Up?

Current market predictions and the development roadmap suggest potential for Ethereum’s price to increase. But the exact trajectory will depend on multiple factors.

How Many Ethereum Burned So Far?

As of the latest available data, the Ethereum network has burned 0.2 million ETH tokens since implementing EIP-1559. The burn rate dynamically adjusts based on network activity.

When Will The Ethereum Bull Run Start?

The start of a bull run for Ethereum is speculative. It depends on market cycles, investor sentiment, and significant catalysts like upgrades and regulatory developments.

Will Ethereum Go Down?

Market volatility is inherent to cryptocurrencies. While Ethereum may experience downturns, its fundamental development aims to mitigate such risks and foster growth.

What Will Be The Future Price Of Ethereum?

Various predictions exist, ranging from moderate increases to high valuations by 2030. Standard Chartered predicts $8,000 per ETH by the end of 2026.

Is Ethereum Going To Go Back Up?

The general consensus among many analysts is positive. The value of Ethereum is expected to rise as it develops and becomes more widespread in the blockchain sector.

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Recent patterns indicate that the impetus fueling Ethereum’s climb is far from diminishing, and the price trajectory of the cryptocurrency has shown resilience. Ethereum may not be as advanced as some of its L1 competitors, but it stands out from the crowd thanks to its large developer community, immense acceptance, and crucial role in DeFi and other blockchain-based applications.

Ethereum Remains Firm At $2,347

At the time of writing, ETH was able to keep a strong footing at the $2,300 level, trading at $2,347, nearly unchanged in the last 24 hours, but tallied a 10% increase in the last seven days, data from Coingecko shows.

There is still a lot of room for profit in the current bull market, even though Ethereum’s price spike hasn’t been as dramatic as other altcoin’s. Size, liquidity, and being the leading platform for smart contracts all contribute to Ethereum’s continued appeal as an investment.

This means that ETH’s price performance could be greatly enhanced by any further market increases. Ethereum, according to technical research, is about to see growth, and it is now testing key resistance levels. Both retail and institutional investors would be interested if the price breaks out above these levels, as it could indicate that the positive trend would continue.

#Ethereum has scratched its way to $2,349, its highest level since June, 2022. The long-term trend of top non-exchange whale wallets getting richer, and top exchange whale wallets having less sell-off power, is a promising combo for a continued climb. https://t.co/h7ogbqPLWf pic.twitter.com/82plXmVn02

— Santiment (@santimentfeed) December 7, 2023

For the first time in more than a year, Ethereum’s price has moved into a new range. The accumulation patterns seen in several top addresses indicate that this new range has created a chance for persistent price increases.

Ethereum’s Growing Holdings And 2024 Roadmap

The most popular Ethereum addresses on exchanges and those outside of them have shown clear patterns of accumulation in the last several months, according to new data from Santiment.

A large number of top non-exchange addresses have been buying Ethereum at different prices, which has caused their holding volume of ETH to rise steadily and now surpass 54 million.

At the same time, following their most recent execution layer meeting on December 8, Ethereum developers have laid out a detailed strategy for the network’s future in 2024, including new suggestions, major upgrades, and more.

Meanwhile, Ethereum is predicted to significantly outpace mega-cap tech stocks. After the Bitcoin miners’ payouts are halved,  investment firm VanEck thinks Ethereum will soar. In the past, this has caused a fresh spike in the price of Bitcoin, with the proceeds going into altcoins.

Ethereum won’t surpass Bitcoin, despite surpassing large stocks, and what “flippening” rumors claim. It is still believed that Bitcoin will continue to lead in market capitalization even though there is a chance that ETH may gain value in daily transaction volume.

(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

Featured image from Shutterstock

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Cardano (ADA) has had one of the best price gains this year, up by 137% from its price point of $0.2464 at the beginning of the year. Various predictions have come in on ADA’s future price trajectory as investors begin to wonder if the altcoin can continue to lead market gains. Changelly’s long-term forecasts indicate that the value of ADA may continue to rise steadily, finally surpassing its all-time high in the years to come and reaching over $7 by the end of the decade.

Cardano Price Predictions From Top Crypto Analysts

Cardano has had 17 green days in the past 30 days. At the time of writing, the altcoin is trading at $0.5845, down 81.19% from its all-time high of $3.09 in September 2021. However, crypto exchange Changelly’s prediction indicates this is poised to change soon, with technical indicators now indicating an 82% bullish market sentiment. According to the prediction, the bullish sentiment could as well push ADA to $0.628404 by the end of the year.

The bullish outlook of the crypto exchange extends well beyond the scope of the current year’s forecast, approaching a slow but steady prediction basis. Changelly predicted that ADA could break the $1 mark again by December 2025, and break above its current all-time high of $3.09 by October 2028.

Assuming the trend of price appreciation continues, ADA might end the decade around the $7 price point. This represents a staggering 1100% increase from its current price. If this happens, this would mean Cardano’s total market cap would grow well over $300 billion. Additionally, Changelly projects ADA reaching an average price of $13.23 by December 2032.

How Feasible Is This Price Point?

$7 may look like a lofty price point for ADA in this decade, but several factors point to this happening, especially if development and adoption continue at the current pace of the last quarter in 2023. CoinMarketCap’s Fear and Greed Index now points to an extreme greed of 80, indicating that the entire market is set for a strong bullish run in 2024. 

According to a crypto analyst, Cardano (ADA) is on the verge of a bullish weekly cross for the first time since June 2020. The last time this happened, the crypto went on a 6000% run over the next 66 weeks. A repeat would see Cardano (ADA) reach $35 from its current price.

#ADA is about to get a bullish weekly cross for the first time since JUNE 2020

The last time this happened it pumped 6,000% over the next 66 weeks#cardano pic.twitter.com/xQvvbf3b1O

— Tyler Strejilevich (@TylerSCrypto) December 9, 2023

On the other hand, crypto analyst Ali Martinez warns of a potential short-term pullback before the restart of an uptrend. 

Watch out! Sell signals have emerged on both the 3-day and 1-day $ADA charts, suggesting a potential correction of one to four candlesticks.

This may just be a short-term pullback before #Cardano resumes its uptrend! pic.twitter.com/t1e1aQLotw

— Ali (@ali_charts) December 9, 2023

Featured image from Shutterstock

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Stablecoin issuing company Tether has announced a new security policy aimed at protecting the crypto ecosystem from bad actors. In addition, the USDT issuer is looking to enhance its cooperation and relationship with law enforcement agencies.

Tether Freezes 41 New Wallets Following New Security Policy 

In a blog post on December 9, Tether stated it would be introducing a voluntary wallet-freezing initiative designed to counter the transactions associated with Sanctioned Persons on the Office of Foreign Assets Control (OFAC) Specially Designated Nationals (SDN) List. 

According to Tether, the company currently has a wallet-freezing policy, but it is only applicable to wallets on its platform. Moving forward, the stablecoin issuer now offers its sanctions control on the secondary market, as it aims to improve its collaboration with governmental agencies in ensuring the safe use of stablecoins.

Interestingly, Tether’s latest policy is in direct opposition to its stance in 2022 when it stated it would not willingly restrict sanctioned Tornado cash addresses, barring a direct order from security agencies. With its announcement, the stablecoin issuer has now begun implementation of its new policy and ordered a wallet-freeze of all 41 wallets associated with persons and companies on the OFAC-SDN list. 

Commenting on this development, Pablo Ardonio has expressed much excitement towards user safety and forming stronger ties with regulators worldwide. 

He said:

This strategic decision aligns with our unwavering commitment to maintaining the highest standards of safety for our global ecosystem and expanding our close working relationship with global law enforcement and regulators. By executing voluntary wallet address freezing of new additions to the SDN List and freezing previously added addresses, we will be able to further strengthen the positive usage of stablecoin technology and promote a safer stablecoin ecosystem for all users.

Meanwhile, some crypto enthusiasts have welcomed this development as they believe it could exert some positive effect on stablecoin adoption in terms of regulations and general usage. 

Breaking: @Tether_to public statement to comply with regulators demand to have freezable wallets for security. This is bullish meaning @Tether_to and the US government are working together, this will bring in the US Stable Coin Act and global adoption.#Tether#USDT… pic.twitter.com/E0eCC1skxf

— MartyParty (@martypartymusic) December 9, 2023

Mystery USDT Transaction

In other news, the Tether Treasury transferred $60 million worth of USDT to a “mysterious fund/institution” on December 8.

This development was revealed by blockchain analytics firm Lookonchain, which also stated that Tether had transferred a total of $1.76 billion USDT to this fund/institution since October 20, which has been further dispersed to other exchanges. 

Being the issuer of the world’s largest stablecoin, large-scale transactions of this size are bound to draw attention to Tether due to its importance in the crypto ecosystem. 

At the time of writing, USDT maintains its spectacular performance in 2023, having attained a $90 billion market cap value. This value represents over 70% dominance in the stablecoin market. 

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MATIC, the native token of the Polygon network, has been on an exciting run in the past few weeks, like several other altcoins in the market. Despite the positive price performance, the cryptocurrency has not been able to return above the $1 mark, seemingly facing rejection at the $0.9 zone.

However, it appears that the tides might be changing for MATIC following a crypto analyst’s projection. 

Will MATIC Price Skyrocket 100% If This Happens?

Prominent crypto analyst Ali Martinez has put forward their bullish projection for the MATIC price in the near future. In a post on the X platform, the analyst revealed that the altcoin could be set for a bullish breakout that could catapult its price to double its current value.

Martinez’s prediction revolves around the symmetrical triangle pattern forming on the Polygon weekly price chart. Interestingly, the MATIC triangular formation is around the $0.96 price point, intersecting with the 50% Fibonacci retracement level.

Keep your eyes on #Polygon! A daily or weekly candlestick close above $0.96 could be the spark for a bullish $MATIC breakout.

If this key level is breached, we might witness #MATIC surging toward $1.82! pic.twitter.com/M9bz3myRVi

— Ali (@ali_charts) December 9, 2023

This pattern forms a basis of Martinez’s projection, as the analyst believes “a daily or weekly candlestick close above $0.96 could be the spark for a bullish MATIC breakout.” According to the analyst, a break through this critical price level could send the altcoin to $1.82.

This projection represents an approximately 100% rally from the current price point. As of this writing, the Polygon token is valued at $0.905165, reflecting a nearly 2% price decline in the past 24 hours. Nevertheless, MATIC ranks as the 15th-largest cryptocurrency, with a market capitalization of roughly $8.42 billion.

On-Chain Data Reveals Minimal Resistance Ahead

A particular on-chain data revelation adds even more strength to Martinez’s $1.82 projection for MATIC price. In an earlier post on X, Martinez revealed that the Polygon token might be set to go on a bullish run.

This theory is based on price data from the analytics platform IntoTheBlock. According to the blockchain platform, about 42,000 addresses purchased 5.8 billion tokens between $0.80 and $0.86, making the price range a “key” support zone.

As displayed in the chart above, the small size of the dots indicates the low density of investors and no major on-chain resistance above the current MATIC price. “Given the minimal resistance ahead, Polygon seems primed for a bull run as long as this level holds,” according to the analyst.

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XRP is one of the top gainers in the last 24 hours. As to why the crypto token is up, a popular crypto sleuth has some answers, as he recently revealed a significant move made by Ripple. This revelation also has the possibility of ending talks that XRP’s price is being manipulated by Ripple, considering that the crypto firm has so far shown that it has XRP’s best interest at heart.

Ripple Allegedly Buys Back Around 700 Million XRP

In a post on his X (formerly Twitter) platform, crypto sleuth Mr. Huber mentioned that Ripple bought back around 700 million XRP from the open market. According to him, Ripple usually does this to keep the XRP markets stable and liquid. This endeavor could explain why the token’s price has suddenly picked up. 

The XRP price has underperformed in recent times, with many speculating why this could be happening. Some simply stated that the price was manipulated as there was no other logical reason to explain the underperformance, especially considering that other altcoins were enjoying significant gains. 

However, Mr. Huber had another plausible explanation for this decline as he stated that it could be one of Ripple’s ODL customers selling their XRP tokens on the open market. It had previously been reported that Ripple’s XRP sales to these ODL customers do not impact prices on exchanges. However, it does when these customers, in turn, start to sell these XRP tokens to retail investors. 

Therefore, noticing the trend of the XRP sales from ODL customers, Ripple could have bought back these XRP tokens in order to stabilize the XRP price. It is worth mentioning that Mr. Huber seems to have reached his conclusion of a massive buyback due to the decline in XRP’s circulating supply. He asserted that Ripple’s holdings are not calculated in the circulating supply. 

XRP Price Underperformance Is Concerning

Before his revelation about Ripple’s massive buyback, Mr. Huber had raised concern about XRP’s worrisome price action. He noted that the XRP price had “lost literally” all the gains it made against the broader crypto market following Judge Analisa Torres’ ruling. The Judge had ruled that the crypto token wasn’t a security in itself. 

Many had predicted that this legal clarity was going to help boost XRP’s price, and it actually did in the weeks after the ruling. However, the XRP price has been on a notable decline since posting those gains. It has even become concerning ever since the broader crypto market picked up as many continue to wonder could be the reason for XRP’s rather relatively tepid movement. 

At the time of writing, XRP is trading at around $0.69, up over 7% in the last 24 hours, according to data from CoinMarketCap. 

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