Ethereum just breached the $2,300 mark, but the leak of the linked wallet sent new shocks to the already volatile market. All the damage is still there, and what has been confirmed so far is enough to confuse even the most seasoned.
BSCN announced on May 1 that the assets of Ethereum mainnet coins, including some that had been dormant for more than seven years, were simultaneously moved to a single address. This trend points to a single attacker exploiting a potentially previously unknown vulnerability.
Security investigators are actively tracking addresses and money flows, which they say are still ongoing.
Is this an exclusive event, or an opening move of something big?
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Could Ethereum Price Be $2,300 Next Week?
ETH’s recent settlement offers little comfort. At $2,300, the stock is below its SMA 5 of $2,308, SMA 10 at $2,320, and its SMA 21 at $2,312. Hardly, the 200-day moving average, $2,755, is also flashing sales. The only technically bright areas are the SMA 50 and SMA 100, which are currently providing bearish support.
Undoubtedly, Ethereum and the entire crypto market have been moving sideways for months, showing the fatigue of traders. But fatigue alone does not bring about change. But again, the Moving Averages indicator indicates buying.
The results add to concerns about long-term positions dominating futures, but negative currency prices reflect a lack of confidence behind that trend.
The current play will depend on whether ETH can hold support at $2,200. If so, the price of Ethereum could stabilize above $2,300 and test $2,400 again. A rally above $2,400 opens a long way to the $2,700 retracement level.
However, if the source of the threat is not quickly identified, security costs are reduced and product turnover increases.
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Bitcoin Hyper Target Bitcoin Level Security
When Ethereum issues security fractures, capital is not lost; it rotates. And right now, some flexibility is moving towards games built on a strong technological foundation.
Bitcoin Hyper ($HYPER) is placed directly in that window. This project is the first Bitcoin Layer 2 to integrate the Solana Virtual Machine, providing a second level and lower cost of smart contracts while maintaining the security of Bitcoin.
Hyper is fighting Bitcoin’s restrictions on slow transactions, high fees, and system instability in a single architecture.
Sales are already up $32.5 million at the current price of $0.0136and the number of participants available at the beginning.
More information on the Bitcoin Hyper presale is available here.
A note Ethereum Price Prediction: Another Action, Can ETH Survive This? appeared for the first time Cryptonews.
