Shiraz Jagati is a writer for Finder. He has written for Cointelegraph, CryptoSlate, CryptoMode and Bitcoin Insider. He loves exploring the emerging blockchain ecosystem and playing the blues.
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Ethereum’s growing stability could see the altcoin register solid gains in the near term despite the asset’s monthly losses laying at -35%.
In addition to whale accounts accumulating Bitcoin recently, small wallet holders with approximately 1 BTC have also risen by 873 over the past 10 days.
While institutional money has continued to exit the Ethereum ecosystem, investments into various Bitcoin offerings have continued to mount.
Even though ETH2.0 finally seems to be on the horizon, the digital currency’s value has continued to drop.
BTC’s decreasing correlation with tech-heavy indices such as the S&P 500 and NASDAQ-100 could be a positive financial sign for the asset.
To combat rising inflation, central banks across the globe have initiated quantitative easing (QE) measures, resulting in lowered market liquidity.
Experts see Ethereum slipping to around AUD$575 (US$420) as central banks continue to tighten their purse strings.
With central banks all over the globe continuing to increase interest rates, the crypto market faces the possibility of further liquidations.
The past week has seen major crypto firms including Celcius, 3 Arrows Capital being faced with massive capital insolvency problems.
The total value locked (TVL) within the ETH network dipped by over 15% during April-May 2022 alone