Dormant Wallet’s $2 Bln ETH Shift Creates Market Panic: What’s Happening?

Quick Summary:

ETH or Ethereum prices dwindled on Wednesday after a dormant wallet moved ETH worth $2 billion. The  possible market pressure was created after hundreds of wallets connected to the $4.2 billion PlusToken Ponzi scheme were seized and started transferring thousands of ether (ETH).

At the press time, Ethereum was trading at $2,438.02, down over 1.2%.

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Article Details

Author / Journalist: Nausheen Thusoo

Category: CryptoTechnology

Markets: Canada

Topics: Scheme Market Future News Investment Trading Ponzi Investors Ethereum Risk Dormant

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-08 @ 01:48:46 (14 hours ago)

News Timezone: GMT +8:00

News Source URL: banklesstimes.com

Language: English

Article Length: 1006 words

Reading Time: 6 minutes read

Sentences: 61 lines

Sentence Length: 17 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bankless Times

News ID: 21975339

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About Bankless Times

Main Topics: CryptoTechnology

Official Website: banklesstimes.com

Update Frequency: 3 posts per day

Year Established: 2011

Headquarters: Canada

News Last Updated: 10 hours ago

Coverage Areas: Canada

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #29

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