Ether fell from $197 to $132 in early morning trading Thursday.
Lenders and depositors are coming back to bZx, as the decentralized protocol for margin trading offers significantly higher yields on ether deposits compared to its peers.
An hour of high volume trading on Tuesday resulted in bitcoin trading lower, giving back nearly half of the previous day’s gains.
Antigua-based crypto derivatives exchange FTX saw record volumes in ether futures on Wednesday amid a sell-off in the cryptocurrency’s price.
Several factors could explain ether’s spectacular gains and determine whether they will continue.
As ether’s price rose to seven-month highs on Wednesday, the aggregate daily volume in ether futures exceeded $4.5 billion for the first time since June 27, 2019.
Ether will face more volatility than bitcoin over the next six months, according to how options have been priced in recent weeks.
For the first time in three months, bitcoin’s price is being quoted in five digits to the left of the decimal.
Ethereum miners are hoarding ether tokens, and this could indicate high confidence in the project.
BlockFi recently announced it would make changes to the interest they pay for bitcoin and ether deposits.
Upbit said users will need to create new wallet addresses to resume trading.
Ether is down significantly from record highs and the majority of its holders are losing money on their investments.
As bitcoin and ether prices fell below technically significant levels, some traders are citing fear emanating from a report about the alleged PlusToken Ponzi scheme as the reason for the plunge
Two blockchain-focused startups are teaming up to enable Amazon purchases with ethereum via an app-like browser extension.
A third of all ether is owned by just 376 whales, blockchain analysis firm Chainalysis says. Yet that number is down from some previous years.