{"id":12950,"date":"2022-11-21T04:22:43","date_gmt":"2022-11-21T04:22:43","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2022\/11\/21\/ethereum-under-free-fall-as-ftx-hackers-sells-massive-quantity\/"},"modified":"2022-11-21T04:22:43","modified_gmt":"2022-11-21T04:22:43","slug":"ethereum-under-free-fall-as-ftx-hackers-sells-massive-quantity","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2022\/11\/21\/ethereum-under-free-fall-as-ftx-hackers-sells-massive-quantity\/","title":{"rendered":"Ethereum Under Free Fall As FTX Hackers Sells Massive Quantity"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<p>\n<iframe loading=\"lazy\" src=\"https:\/\/coingape.com\/eth-tanks-8-overnight-as-ftx-hacker-sells-ethereum-holdings\/about:blank\" width=\"320\" height=\"100\" marginwidth=\"0\" marginheight=\"0\" hspace=\"0\" vspace=\"0\" frameborder=\"0\" scrolling=\"no\" data-rocket-lazyload=\"fitvidscompatible\" data-lazy-src=\"https:\/\/servedbyadbutler.com\/adserve\/;ID=180936;size=320x100;setID=508113;type=iframe;click=CLICK_MACRO_PLACEHOLDER\"><br \/>\n<\/iframe><noscript><iframe loading=\"lazy\" src=\"https:\/\/servedbyadbutler.com\/adserve\/;ID=180936;size=320x100;setID=508113;type=iframe;click=CLICK_MACRO_PLACEHOLDER\" width=\"320\" height=\"100\" marginwidth=\"0\" marginheight=\"0\" hspace=\"0\" vspace=\"0\" frameborder=\"0\" scrolling=\"no\"><br \/>\n<\/iframe><\/noscript>\n<\/p>\n<p>The world\u2019s second-largest cryptocurrency is underneath robust promoting strain on Sunday night. As of press time, Ethereum (ETH) is buying and selling 8.09% down at a value of $1,120 and a market cap of $137 billion.<\/p>\n<p>On Sunday, November 20, studies emerged that the FTX hacker who stole $600 million from the change is changing his <a href=\"https:\/\/coingape.com\/warning-ftx-hacker-stacking-eth-whale-holding-reduced\/\" target=\"_blank\" rel=\"noopener\">ETH stash<\/a> to Bitcoin. Last week, the hacker transformed all of the stablecoins to Ethereum accumulating $288 million price of ETH. Citing knowledge from Etherscan, crypto journalist <a rel=\"nofollow noopener\" href=\"https:\/\/twitter.com\/WuBlockchain\/status\/1594296191986339843\" target=\"_blank\">Colin Wu<\/a> reported:<\/p>\n<blockquote>\n<p>The FTX hacker deal with (0x59\u2026d32b) is changing a considerable amount of ETH into BTC. Today, about 30,000 ETH has been exchanged into RenBTC, and 1070 BTC has been transferred to the BTC community.<\/p>\n<\/blockquote>\n<p>Administrators are nonetheless evaluating the wreckage attributable to FTX\u2019s chapter. The crypto agency owes a staggering $3.1 billion to a number of the prime collectors. Besides, there are rising considerations that extra digital outfits may topple amid the current disaster.<\/p>\n<p>Last week, <a href=\"https:\/\/coingape.com\/blockfi-preps-for-potential-bankruptcy-after-ftx-collapse\/\" target=\"_blank\" rel=\"noopener\">reports<\/a> emerged that crypto lender BlockFi is getting ready for a possible chapter. Speaking to <a rel=\"nofollow noopener\" href=\"https:\/\/www.bnnbloomberg.ca\/crypto-markets-sag-as-funds-drained-from-ftx-switch-out-of-ether-1.1849123\" target=\"_blank\">Bloomberg TV<\/a>, Christian Catalini, founding father of the MIT Cryptoeconomics Lab, mentioned:<\/p>\n<blockquote>\n<p>\u201cThe FTX issues are really an urgent reminder of the need for regulatory clarity and a real regulatory framework for crypto\u201d. The hype and hypothesis over the minting and buying and selling of tokens \u201chas generated a massive distraction from building actual products and services that reach consumers, solve actual problems.\u201d<\/p>\n<\/blockquote>\n<h3>Ethereum Underperforms Bitcoin<\/h3>\n<p>Today\u2019s ETH value correction can also be the results of a broader market correction. The broader cryptocurrency market is down by 5.6% slipping underneath $800 billion as of press time. While ETH is down 8%, Bitcoin has additionally corrected over 4% slipping underneath $16,000.<\/p>\n<p>Over the previous couple of weeks, Ethereum has been severely underperforming Bitcoin. Several analysts consider that the current market sell-off may pull the ETH value to underneath $1,000.<\/p>\n<figure id=\"attachment_127956\" aria-describedby=\"caption-attachment-127956\" style=\"width: 620px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-127956\" alt=\"\" width=\"620\" height=\"349\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/11\/21092445\/Ethereum-Underperforms-Bitcoin.jpg\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-127956\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/11\/21092445\/Ethereum-Underperforms-Bitcoin.jpg\" alt=\"\" width=\"620\" height=\"349\"\/><\/noscript><figcaption id=\"caption-attachment-127956\" class=\"wp-caption-text\">Courtesy: Bloomberg<\/figcaption><\/figure>\n<p>Along with Ethereum, all the prime ten altcoins have corrected between 5-10%.<\/p>\n<div class=\"TabDicA\">\n<div class=\"TBAcon \">\n<div class=\"authorFlip tabcS\" id=\"TabA127955\">\n<div class=\"authorBox\">\n<div class=\"author_Name\">\n<p>\nBhushan is a FinTech fanatic and holds a great aptitude in understanding monetary markets. His curiosity in economics and finance draw his consideration in the direction of the brand new rising Blockchain Technology and Cryptocurrency markets. He is constantly in a studying course of and retains himself motivated by sharing his acquired information. In free time he reads thriller fictions novels and typically discover his culinary expertise.\n<\/p>\n<\/div>\n<div class=\"author_Image\">\n<img loading=\"lazy\" decoding=\"async\" alt=\"\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/6d622b7613c3c79c72d94a2e7cffa3b2?s=400&amp;d=mm&amp;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" src=\"https:\/\/secure.gravatar.com\/avatar\/6d622b7613c3c79c72d94a2e7cffa3b2?s=200&amp;d=mm&amp;r=g\"\/><noscript><img loading=\"lazy\" decoding=\"async\" alt=\"\" src=\"https:\/\/secure.gravatar.com\/avatar\/6d622b7613c3c79c72d94a2e7cffa3b2?s=200&amp;d=mm&amp;r=g\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/6d622b7613c3c79c72d94a2e7cffa3b2?s=400&amp;d=mm&amp;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\"\/><\/noscript> <\/div>\n<\/div>\n<\/div>\n<div class=\"TabDesCm tabcS\" id=\"TabD127955\">\n<p> The offered content material could embrace the private opinion of the creator and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The creator or the publication doesn&#8217;t maintain any accountability to your private monetary loss.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/coingape.com\/eth-tanks-8-overnight-as-ftx-hacker-sells-ethereum-holdings\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] The world\u2019s second-largest cryptocurrency is underneath robust promoting strain on Sunday night. As of press time, Ethereum (ETH) is buying and selling 8.09% down at a value of $1,120 and a market cap of $137 billion. On Sunday, November 20, studies emerged that the FTX hacker who stole $600 million from the change is [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1569,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ocean_post_layout":"","ocean_both_sidebars_style":"","ocean_both_sidebars_content_width":0,"ocean_both_sidebars_sidebars_width":0,"ocean_sidebar":"","ocean_second_sidebar":"","ocean_disable_margins":"enable","ocean_add_body_class":"","ocean_shortcode_before_top_bar":"","ocean_shortcode_after_top_bar":"","ocean_shortcode_before_header":"","ocean_shortcode_after_header":"","ocean_has_shortcode":"","ocean_shortcode_after_title":"","ocean_shortcode_before_footer_widgets":"","ocean_shortcode_after_footer_widgets":"","ocean_shortcode_before_footer_bottom":"","ocean_shortcode_after_footer_bottom":"","ocean_display_top_bar":"default","ocean_display_header":"default","ocean_header_style":"","ocean_center_header_left_menu":"","ocean_custom_header_template":"","ocean_custom_logo":0,"ocean_custom_retina_logo":0,"ocean_custom_logo_max_width":0,"ocean_custom_logo_tablet_max_width":0,"ocean_custom_logo_mobile_max_width":0,"ocean_custom_logo_max_height":0,"ocean_custom_logo_tablet_max_height":0,"ocean_custom_logo_mobile_max_height":0,"ocean_header_custom_menu":"","ocean_menu_typo_font_family":"","ocean_menu_typo_font_subset":"","ocean_menu_typo_font_size":0,"ocean_menu_typo_font_size_tablet":0,"ocean_menu_typo_font_size_mobile":0,"ocean_menu_typo_font_size_unit":"px","ocean_menu_typo_font_weight":"","ocean_menu_typo_font_weight_tablet":"","ocean_menu_typo_font_weight_mobile":"","ocean_menu_typo_transform":"","ocean_menu_typo_transform_tablet":"","ocean_menu_typo_transform_mobile":"","ocean_menu_typo_line_height":0,"ocean_menu_typo_line_height_tablet":0,"ocean_menu_typo_line_height_mobile":0,"ocean_menu_typo_line_height_unit":"","ocean_menu_typo_spacing":0,"ocean_menu_typo_spacing_tablet":0,"ocean_menu_typo_spacing_mobile":0,"ocean_menu_typo_spacing_unit":"","ocean_menu_link_color":"","ocean_menu_link_color_hover":"","ocean_menu_link_color_active":"","ocean_menu_link_background":"","ocean_menu_link_hover_background":"","ocean_menu_link_active_background":"","ocean_menu_social_links_bg":"","ocean_menu_social_hover_links_bg":"","ocean_menu_social_links_color":"","ocean_menu_social_hover_links_color":"","ocean_disable_title":"default","ocean_disable_heading":"default","ocean_post_title":"","ocean_post_subheading":"","ocean_post_title_style":"","ocean_post_title_background_color":"","ocean_post_title_background":0,"ocean_post_title_bg_image_position":"","ocean_post_title_bg_image_attachment":"","ocean_post_title_bg_image_repeat":"","ocean_post_title_bg_image_size":"","ocean_post_title_height":0,"ocean_post_title_bg_overlay":0.5,"ocean_post_title_bg_overlay_color":"","ocean_disable_breadcrumbs":"default","ocean_breadcrumbs_color":"","ocean_breadcrumbs_separator_color":"","ocean_breadcrumbs_links_color":"","ocean_breadcrumbs_links_hover_color":"","ocean_display_footer_widgets":"default","ocean_display_footer_bottom":"default","ocean_custom_footer_template":"","ocean_post_oembed":"","ocean_post_self_hosted_media":"","ocean_post_video_embed":"","ocean_link_format":"","ocean_link_format_target":"self","ocean_quote_format":"","ocean_quote_format_link":"post","ocean_gallery_link_images":"on","ocean_gallery_id":[],"footnotes":""},"categories":[14],"tags":[108,1835,3288,887,451,1301,5216,333],"class_list":["post-12950","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoin","tag-ethereum","tag-fall","tag-free","tag-ftx","tag-hackers","tag-massive","tag-quantity","tag-sells","entry","has-media","owp-thumbs-layout-horizontal","owp-btn-normal","owp-tabs-layout-horizontal","has-no-thumbnails","has-product-nav"],"_links":{"self":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts\/12950","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/comments?post=12950"}],"version-history":[{"count":1,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts\/12950\/revisions"}],"predecessor-version":[{"id":12951,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts\/12950\/revisions\/12951"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/media\/1569"}],"wp:attachment":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/media?parent=12950"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/categories?post=12950"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/tags?post=12950"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}