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After its founder enlisted in the Israeli military, what would happen to the SSV Network's value?
On October 10, it was announced on X that #SSV Network creator Alon Muroch had been inducted into the Israeli military. As a result of this announcement, the value of SSV, the network's native token, dropped by 5%, to less than $14. SSV will reach its all-time low of roughly $13.40 in September 2023 if it continues to fall at this rate.
When SSV's Founder Is Drafted
After being asked about the current problem in the Middle East, Muroch said it is "much worse than described." The inventor speculated that enlisting in the military could "tip the scale" and lead to an improvement in conditions on the ground.
This week's escalation in the Middle East has resulted in a humanitarian disaster, with lives lost and property destroyed. As of this writing on October 11th, it is unknown if Muroch has been called up for active duty.
Although the market reaction was muted at first, the blockchain analysis platform Lookonchain identified two noteworthy transactions. Binance, a major trading platform, received 18,055 SSV from the addresses "ikuvc.eth" and "0xF447," with a combined market value of almost $250,000.
Sending funds to a consolidated trading platform is a common indication of an impending sale. However, it remains to be seen if the holders at these addresses have sold their tokens for USDT or other, more stable cryptocurrencies like #Bitcoin or Ethereum.
Spot rates for SSV continue to be volatile. Token prices have fallen by 5% in the latest trading day, continuing a precipitous fall from their initial Binance listing highs of around $100. The current price of SSV, which is down by more than 95% from its all-time high, reflects the token's precarious position and the unfavourable market conditions of the past eight months.
The SSV Network Is Still In The Planning Stage.
The goal of the SSV Network is to fortify Ethereum by making validators available to everybody, regardless of whether or not they run a node. Ethereum operates on a proof-of-stake protocol and is secured by a distributed network of validators.
Distributed Validator Technology (DVT) is utilised by the SSV Network. The validator key is dispersed throughout a group of nodes in this system that cannot be trusted. Anyone can stake ETH on the platform and receive rewards without having to run a full validator node.
SSV Network's goal is to improve the safety and dependability of staking while making it more distributed and user-friendly. SSV Network is currently in beta and requires user permission to access. They hope to expand their network of operators and validators by means of an upgrade via a Permissionless Launch.
When SSV's Founder Is Drafted
After being asked about the current problem in the Middle East, Muroch said it is "much worse than described." The inventor speculated that enlisting in the military could "tip the scale" and lead to an improvement in conditions on the ground.
This week's escalation in the Middle East has resulted in a humanitarian disaster, with lives lost and property destroyed. As of this writing on October 11th, it is unknown if Muroch has been called up for active duty.
Although the market reaction was muted at first, the blockchain analysis platform Lookonchain identified two noteworthy transactions. Binance, a major trading platform, received 18,055 SSV from the addresses "ikuvc.eth" and "0xF447," with a combined market value of almost $250,000.
Sending funds to a consolidated trading platform is a common indication of an impending sale. However, it remains to be seen if the holders at these addresses have sold their tokens for USDT or other, more stable cryptocurrencies like #Bitcoin or Ethereum.
Spot rates for SSV continue to be volatile. Token prices have fallen by 5% in the latest trading day, continuing a precipitous fall from their initial Binance listing highs of around $100. The current price of SSV, which is down by more than 95% from its all-time high, reflects the token's precarious position and the unfavourable market conditions of the past eight months.
The SSV Network Is Still In The Planning Stage.
The goal of the SSV Network is to fortify Ethereum by making validators available to everybody, regardless of whether or not they run a node. Ethereum operates on a proof-of-stake protocol and is secured by a distributed network of validators.
Distributed Validator Technology (DVT) is utilised by the SSV Network. The validator key is dispersed throughout a group of nodes in this system that cannot be trusted. Anyone can stake ETH on the platform and receive rewards without having to run a full validator node.
SSV Network's goal is to improve the safety and dependability of staking while making it more distributed and user-friendly. SSV Network is currently in beta and requires user permission to access. They hope to expand their network of operators and validators by means of an upgrade via a Permissionless Launch.
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