Ethereum holds near $1,655 as ETF outflows, whale buying, dormant selling and weak indicators keep recovery fragile around $1,800 this week.
Ethereum is hovering near $1,615 on Wednesday, registering a decline of over 3% as bearish momentum persists across various indicators.
The token fell to about $59,000 before buyers stepped in, but the week's losses are steep across the board. A blowout Micron forecast lifted stocks and oil kept sliding, yet crypto did not follow.
An address associated with the venture capital firm a16z withdrew a total of 25,560 ETH from the centralized exchange platform Binance. The transfer represents an estimated value of $42.62 million, executed while the crypto asset was trading near $1,670.
Whale withdrawals and stabilizing stablecoin flows emerge as Ethereum trades 21% below its 30-day peak.
Every industry has its defining rivalry. McDonald's and Burger King; Walmart and Amazon; Microsoft and Apple.
The Ethereum Foundation (EF) is facing intense scrutiny after announcing a nearly 40% budget reduction and laying off around 20% of its workforce. The move came just one day after the launch of EthLabs, a new Ethereum-focused research organization backed by major ecosystem participants, sparking widespread debate about Ethereums future.
Ethereum's core development ecosystem could face a significant funding crisis within the next several months, according to Trent Van Epps.
In this week's edition of The Protocol Newsletter, we're looking at Ethereum's eventful week that started off with the launch of EthLabs, plus the layoffs at the Ethereum Foundation, and what this all means for the network.
Ethereum co-founder Vitalik Buterin has outlined a significant restructuring at the Ethereum Foundation (EF), including a sharp reduction in its operating budget and workforce. The changes reflect a deliberate shift toward long-term financial sustainability and a narrower focus on core protocol priorities.
Ethereum Foundation Cuts Put Long-Term Solvency Back In Focus TL;DR The Ethereum Foundation has reportedly announced a reorganization aimed at reduc
A wallet linked to venture capital giant Andreessen Horowitz (a16z) withdrew 25,560 ether (ETH), worth about $42.62 million, from Binance, a move that landed as ether trades at $1,672. Tracking the Withdrawal The transfer flagged by onchain tracker Lookonchain, said a wallet linked to a16z pulled 25,560 ETH, valued at roughly $42.