Ethereum has shown strength since yesterday and recovered some losses in the last 24 hours. The smart contract platform signals bullish momentum – but now, of all times, the situation surrounding crypto giant Binance could become a problem. What should investors expect?
Ethereum: New Bull Run in 2023?
In the crypto markets, things seem to be moving again at the same time. First on the positive: Ethereum may be on the verge of a new bull run. This is what the popular pseudonymous top analyst “Smart Contractor” thinks.
According to his assessment, Ethereum will even become the largest and most valuable cryptocurrency in 2023. ETH/BTC is one of the trades he is most looking forward to next year. That will However, it will still be a few months before that happens.
The chart expert is convinced that it will come to that: Ethereum is in a multi-year uptrend – he will definitely be there when ETH “overtakes BTC in the next cycle”.
However, it remains to be seen whether Ethereum can maintain the bullish momentum – the smart contract platform is currently under pressure due to the situation surrounding Binance.
Ethereum under pressure from Binance
While Ethereum is only halfway trying to recover, the world’s largest crypto exchange Binance is now at risk of being sued by the US attorney’s office.
As Reuters reports, US authorities are considering charges of money laundering and sanctions evasion. According to the news agency, Binance CEO Chanpeng “CZ” Zhao must have introduced strict confidentiality rules for employees, among other things.
Meanwhile, he is defending himself against the rumors on Twitter, describing all claims as “FUD”, meaning “Fear, Uncertainty and Doubt”. The crypto billionaire to his more than 7.9 million followers:
“FUD helps us grow, even if they (sic!) are very annoying.
You can FUD about someone without explicitly mentioning their name, which increases fame.
It also helps unite their supporters because it forms a common defense alliance.”
There have been attempts to attack Binance from day one, and since then not a week has passed without FUD. CZ further:
“We have learned to ignore them and keep building.
Thank you for all your support over the years. And let’s keep building together.”
It sounds a bit like the last gig on the Titanic – and the Ethereum ecosystem is already feeling the claims: several users are withdrawing their Ethereum from Binance. In the last 24 hours alone, there have been transfers of $1.6 billion, blockchain data provider Nansen reports:
“There is an increase in withdrawals from Binance in the last 24 hours with -$1.6B* net flow
The 7-day net flow is now -1.9 billion. $, which is currently less than the weekly -2.3 billion. $ that Binance processed after the FTX collapse.”
In other words, investors are currently withdrawing their Ethereum from Binance in droves – almost as much as after the FTX collapse! Industry observer and top analyst Mike Alfred therefore warns his more than 120,000 followers in capital letters:
“WITHDRAW YOUR MONEY FROM BINANCE IMMEDIATELY. THIS IS NOT A TEST OR A JOKE.”
Pre-sale ends soon: game coin Calvaria shortly before IPOs
Ethereum is falling, Binance is under pressure – on the other hand, there is good news from the new gaming coin Calvaria (RIA): The promising NFT trading card game is fast approaching the end of its pre-sale! It caused astonishment even in the bear market: the project was able to raise more than $2.42 million in capital from convinced investors and is now getting ready for the next stage of development: listing on crypto exchanges. Traders and chart experts know: This is usually accompanied by a price jump. So, if you still want to buy the coin for pre-sale conditions, you need to hurry – the last fifth stage is already 78% completed.
Here for the Calvaria Presale