News Roundup: Ethereum Mixer Developer Sentenced, ETH Whale Activity Increases, Solana vs. Ethereum
BTC-ECHO | Bitcoin & Blockchain since 2014 reports that Alexey Pertsev, one of the developers behind the Ethereum mixer Tornado Cash, has been sentenced to over five years in prison by a Dutch court for his involvement in laundering $1.2 billion through the platform. The U.S. Treasury had declared Tornado Cash illegal back in August 2022 due to its use in money laundering activities amounting to several billions of dollars. This ruling could set a precedent as other developers face similar charges.
According to finanzen.net, there is growing optimism around Ethereum as whale investors continue to increase their holdings significantly. Data from Glassnode indicates a divergence between short-term and long-term holders' performance with more whales accumulating ETH despite market volatility. This trend suggests strong belief among large investors about future improvements and price increases within the Ethereum network.
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In an article on FinanzNachrichten.de, three reasons are highlighted why Solana might currently be outperforming Ethereum: faster transaction times, lower fees, and increasing adoption particularly in NFTs (Non-Fungible Tokens). Despite some reliability issues like repeated outages, Solana's innovative Proof-of-History consensus mechanism combined with Proof-of-Stake allows it to process more transactions per second than Ethereum.
BeInCrypto discusses whether the recent drop in Ethereum’s price can rebound bullishly or if further decline is expected. After falling approximately 31% since hitting a local high two months ago at around $4,094 USD per coin; key Fibonacci support levels will determine if ETH can recover or continue downward towards new lows this year.
Finally,
IG Deutschland highlights: The potential rise of Ethereum prices toward $3k amidst positive investor sentiment driven by US inflation data. This analysis shows how macroeconomic factors influence cryptocurrency markets while also noting significant resistance points which need breaking before confirming any sustained upward trends again soon enough! (Source: IG Deutschland).
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