ETHEREUM (ETH), the second largest encrypted currency, according to the market value, witnessed increasing pressure in its renewal amid a large -scale market breakdown. After reaching the highest level in mid-December of $ 4,107-not less than the highest level in November 2021 ever at $ 4,868-it decreased to less than 1800 dollars, which represents a decrease of 53 % from the December Summit. But while traders are scrambling to assess the depth of this current recession, the new development on the series stole the moments of the lights.
Is it really Ethereum?
The laboratory transaction was marked by the Lookonchain Series Service Arise This week warning, indicating an alleged risk of ethereum (EF). Lokonchain was reported via X: “An suspected ethereum has deposited 30,098 ETH ($ 56.08 million) to reduce the liquidation price 5 hours ago. Currently, this portfolio contains 100,394 ETH ($ 182 million) on a maker, and the price of filter is $ 1,127.06.”
The volume of treatment – which is valued at $ 56.08 million in ETH deposits – has achieved widespread speculation about EF. Lookonchain data implicitly exposed that 30,098 ETH (about $ 182 million) was used to support Makerdao's cellar with a filter threshold hovering about $ 1127, a pivotal level in the last prices.
Wu Blockchain was the Chinese News Crypto port from among the first to generalize the story. However, shortly after that, Wu Blockchain provided an explanation based on analyzes from Arkham Intelligence.
The updated analysis indicates that the ETHEREUM portfolio may be exaggerated. It seems that the address belongs to the early ETH investor who has once interacted with the official EF portfolios, but has since managed the money independently. The deposit of 30,098 ETH was supposed to be a strategic step to support the warranty and reduce the Makerdao Vauul filter during the market shrinkage.
Notice wu Blockchain via X: “Correction: Although 0x22 … 1246 was marked by Arkam as the suspect ETHEREUM Foundation address, but the data on the series confirms otherwise. While this address received the transfer of 4M Dai from the sale of ETHEREUM Foundation Eth in May 2022, the behavior of transactions and tracking the first ETH financing again to Jonny.ETH (0xb76), which indicates that the early ETH investor is likely to be the same.
Although the liquidation price remains $ 1127 – a level that some observers believe can be tested if market pressure continues – there is currently no formal evidence linking a cellar to Ethereum. Thus, it appears that rumors of EF liquidation are unfounded, given the clarifications provided by Wu Blockchain based on Arkham data.
At the time of the press, ETH was traded at $ 1925.
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