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📈 Price Predictions
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Whales Starting to Move Ethereum Assets

  • Thomas Hughes
    📈 Price Predictions

    More than a quarter billion USD worth of Ether was transferred over the weekend in 21 separate transactions.

Whales Starting to Move Ethereum Assets
Cover image via u.today

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

More than a quarter billion USD worth of Ether was transferred over the weekend in 21 separate transactions. The total amount adds up to more $273 million, with ten (10) of the largest transactions going from crypto exchange Bitfinex to an unknown address.

This could be due to Bitfinex’s scheduled maintenance and server upgrade, but I am sure the FUD spreaders will speculate about malicious intent. In the meantime, Ethereum is sitting at a comfortable 12% gain over the last 7 days, so it doesn’t seem affected that much.

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Currently trading at 153 against the US Dollar (aggregate price, CoinMarketCap), Ethereum has been one of the biggest gainers of the 2018 – 2019 switchover and is trading in an uptrend since reaching a low at $83 on Dec. 15, 2018.

Although the last month has been mostly bullish, Ethereum is still in a downtrend that started in January 2018, so don’t pop the champagne just yet, thinking it’s going to the Moon. The last few days the pair has traded just shy of 170 resistance, failing to threaten it, so it seems like upside action may need a retracement or at least that bullish pressure is dissipating.

Support zone: 50 EMA, 200 EMA, $130

Resistance zone: 170    

Most likely scenario: drop below 50 EMA (4-hour chart)

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About the author

Thomas Hughes is an executive editor of U.Today. He is a skilled cryptocurrency trader and technical analyst deeply immersed into the cryptocurrency & blockchain technology area.

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Jim Cramer Suggests WeWork Isn't Worth Anything Because of Its Immense Debt

  • Alex Dovbnya
    📰 News

    SoftBank is expected to breathe new life into struggling WeWork, but Jim Cramer says that the company is plagued by a massive debt

Jim Cramer Suggests WeWork Isn't Worth Anything Because of Its Immense Debt
Cover image via u.today

Market analyst Jim Cramer told The Street that WeWork is really negative worth because of all its gargantuan debt. 

Having someone having leased is great idea, but it was, it was a leasing company, and I'm not going to diminish the fact that it was, at one point this fabulous story because it was growth, growth, growth, but it also was debt, debt, debt. 

On Oct. 22, CNBC reported that SoftBank would take control of WeWork while former CEO Adam Newman would maintain a small double-digit stake in the workspace rental company. 

It is expected that SoftBank would be able to get WeWork on a path to profitability, something that Uber and Lift, which recently launched their respective IPOs, are struggling to achieve. The Japanese giant could fork out an additional $5 bln to fund the embattled leasing company. 

Newman will reportedly walk take a cool $1.7 bln as part of the deal that would put WeWork's valuation to $8 bln on a pre-funding basis (a small fraction of the $45 bln it was worth before its failed IPO). 

WeWork was supposed to go public in September after confidentially filing for an IPO back in April, but its the hype around its public offering gradually started to dwindle and ended an in an epic fallout.  

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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