Ethereum insider Lane Rettig makes strong allegations about ETH ICO, claiming that 70% of all ETH in existence was distributed in the pre-mine. 
Read more on: https://thecryptobasic.com/2023/12/18/former-ethereum-developer-says-70-of-eth-supply-was-distributed-during-pre-mine/
#ETHEREUMS #EthereumLeads #EthereumAccumulation #cryptocurreny #CryptoNews🔒📰🚫

Ethereum is experiencing a crucial moment, facing the most significant pullback since the beginning of the cryptocurrency market's bull run. This retracement is crucial for traders, with many keeping a close eye on the potential for a reversal at around the trendline support level on the ETH/USD chart. However, caution is advised, as the likelihood of a dramatic turnaround seems dim. The current market conditions and network challenges pose significant hurdles for Ethereum's immediate prospects.Ethereum's price chart illustrates this recent downturn. After a period of consistent gains, ETH has encountered resistance, leading to a pullback that is stoking a mix of apprehension and anticipation among traders. The sharp decline in price from its recent highs has left investors questioning the durability of the bull run and whether Ethereum can muster the strength to pivot back to its former upward trajectory.A closer look at the price action shows Ethereum has not yet exhibited the full magnitude of a reversal. One of the critical factors influencing Ethereum's performance is the support, or lack thereof, for the decentralized finance (DeFi) ecosystem built on its blockchain. Unfortunately, the network has been plagued with unstable conditions, manifesting in the form of enormous transaction fees. These issues have dampened enthusiasm for DeFi projects, traditionally one of the primary catalysts for Ethereum's demand and, consequently, its price.The market's response to Ethereum's challenges has been tepid. Without robust support for the DeFi sector, Ethereum's potential for a swift recovery seems compromised. The high gas fees have notably deterred smaller investors and projects, which has a knock-on effect on the entire Ethereum-based DeFi landscape. This setback comes at a time when competition from other blockchains with lower fees and faster transactions is intensifying. However, Layer-2 networks on Ethereum might change this in favor of the second-biggest blockchain in the industry.#ETH #EthereumAccumulation #CryptoisBetter #cryptocurreny #CryptoWatchlist

According to cryptocurrency analysis firm LookonChain, an Ethereum (ETH) whale might sell its holdings after laying dormant for five years. According to the analysis firm, the whale received 47,260 ETH, worth $11.34 million, from June to August 2017. The whale’s average cost per coin was around $240. Since 2017, ETH’s price has gone up by around 838%.LookonChain notes that the whale wallet transferred 39,260 ETH, worth $87.5 million, to the cryptocurrency exchange Kraken on Dec. 5, 2023. If the whale sells its holdings, it would make a profit of around $78 million.An early $ETH whale appears to be selling ETH again after being dormant for 5 years.The whale deposited all 39,260 $ETH ($87.5M) to #Kraken 30 mins ago.The whale received 47,260 $ETH ($11.34M) at ~$240 from June to August 2017.If sold the whale would make a profit of ~$78M. pic.twitter.com/v0PI4LNTKO— Lookonchain (@lookonchain) December 5, 2023Will the Ethereum whale sell?The movement of assets to exchanges is bearish, given that it increases the chances of being sold. The whale may sell its Ethereum (ETH) holdings while booking profits. The wallet in question has made a profit of $78 million already.When Ethereum (ETH) reached its all-time high of $4878.26 in November 2021, the whale’s holdings were worth around $230 million. Analysts anticipate a bull market for the cryptocurrency sector in 2024. ETH and other assets, such as Bitcoin (BTC), may hit new all-time highs next year. Hence, the whale’s holdings could surge in value over the next few months. Therefore, the wallet might not sell its holdings just yet.Some analysts expect ETH to hit a price of $10,000 in the next bull run. In such a scenario, the whale’s holdings could be worth around $472.6 million. It is unlikely that the investor, or group of investors, would want to miss out on an opportunity to make almost half a billion dollars.It is also possible that the wallet is simply reorganizing its holdings and is temporarily keeping its Ethereum (ETH) in an exchange. The ETH may find its way back into a hard wallet soon.#EthereumAccumulation #dyor

An early Ethereum ICO advisor has argued that fees were meant to be low on the network, questioning the lucrative gas fees users must now pay.
Read more on: https://thecryptobasic.com/2023/12/13/ethereum-insider-says-eth-fees-were-meant-to-be-0-01-0-02-on-the-network/
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