{"id":382461,"date":"2019-05-15T18:00:39","date_gmt":"2019-05-15T18:00:39","guid":{"rendered":"https:\/\/wncen.com\/?p=382461"},"modified":"2024-06-11T16:25:22","modified_gmt":"2024-06-11T16:25:22","slug":"ethereum-eth-bulls-rebuff-cryptopia-liquidation-race-to-450","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum-eth-bulls-rebuff-cryptopia-liquidation-race-to-450\/","title":{"rendered":"Ethereum (ETH) Bulls Rebuff Cryptopia Liquidation, Race to $450?"},"content":{"rendered":"<ul>\n<li><em>Ethereum (ETH) up 16.8 percent<\/em><\/li>\n<li><em>Cryptopia liquidates after Jan 2019 loss<\/em><\/li>\n<\/ul>\n<p><em>Behind today\u2019s 16.8 percent surge of Ethereum (ETH) prices are supportive fundamentals. Sources indicate that the CFTC is warming up to the idea of ETH derivatives and heavyweights are gravitating towards Ethereum. That is supporting prices, countering sell pressure emanating from Cryptopia liquidation.<\/em><\/p>\n<h2>Ethereum Price Analysis<\/h2>\n<h3>Fundamentals<\/h3>\n<p>It\u2019s over for Cryptopia, the New Zealand cryptocurrency exchange that was hacked, losing an estimated $16 million. Most of those lost coins were Ethereum (ETH) and related ERC tokens. With no haircuts, investors, as well as the exchange\u2019s stakeholders, had to count losses severely affecting the liquidity position of the once vibrant exchange.<\/p>\n<p>Unfortunately for traders and investors, the repercussions took a heavy toll, and the crypto exchange is now in liquidation. Grant Thornton New Zealand, the official liquidator, made the announcement which was subsequently confirmed by Cryptopia,\u00a0 a few hours after the exchange went for unscheduled maintenance.<\/p>\n<p>David Ruscoe representing the liquidator,<a href=\"https:\/\/www.grantthornton.co.nz\/press\/press-releases-2019\/cryptopia-limited-appoints-grant-thornton-as-liquidators\/\" rel=\"nofollow\"> said<\/a>:<\/p>\n<blockquote><p><em>\u201cWe realize Cryptopia\u2019s customers will want to have this matter resolved as soon as possible. We will conduct a thorough investigation, working with several different stakeholders, including management and shareholders, to find the solution that is in the best interests of customers and stakeholders.\u201d<\/em><\/p><\/blockquote>\n<h3>Candlestick Arrangement<\/h3>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-382457\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/Ethereum-Daily-Chart-May-15.png?resize=1280%2C1024\" alt=\"Ethereum ETH\" width=\"1280\" height=\"1024\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/Ethereum-Daily-Chart-May-15.png?w=1280 1280w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/Ethereum-Daily-Chart-May-15.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/Ethereum-Daily-Chart-May-15.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/Ethereum-Daily-Chart-May-15.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/Ethereum-Daily-Chart-May-15.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/Ethereum-Daily-Chart-May-15.png?w=1140 1140w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\"><\/p>\n<p>However, price action points at a different picture. Reflecting resilience&#8211;and an on-demand asset, the second most valuable coin is 40.3 percent in the last week. It\u2019s up a massive 16.8 percent in the past 24 hours, matching the performance of Ripple (XRP) which is also on a solid uptrend.<\/p>\n<p>In line with our last <a href=\"https:\/\/wncen.com\/2019\/05\/13\/samsung-jp-morgan-microsoft-are-ethereum-eth-primers-next-250\/\" target=\"_blank\" rel=\"noopener noreferrer \">ETH\/USD trade plan<\/a> and development of the previous 24 hours, traders should fine-tune their positions in lower time frames as momentum build up. Already, hinting of underlying demand, bars are banding along the upper BB as it diverges from the 20-day MA.<\/p>\n<p>Concurrently, ETH bulls are cementing their position above $200, and in a bull breakout pattern, it is likely that prices will expand towards $250, our first target and later $300. However, our ultimate aim stands at $450 or Q2 2018 lows.<\/p>\n<h2>Technical Indicator<\/h2>\n<p>Affirming our stance is increasing participation levels. From late Apr-2019, transaction volumes have more than doubled from around 100k to 242k of May-14. That is an express indication of demand, the perfect building blocks that will feed the next wave of higher highs first towards $250, $300 and later $450.<\/p>\n<p><strong><em>Chart courtesy of Trading View<\/em><\/strong><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum (ETH) up 16.8 percent Cryptopia liquidates after Jan 2019 loss Behind today\u2019s 16.8 percent surge of Ethereum (ETH) prices are supportive fundamentals. Sources indicate that the CFTC is warming up to the idea of ETH derivatives and heavyweights are gravitating towards Ethereum. That is supporting prices, countering sell pressure emanating from Cryptopia liquidation. Ethereum Price Analysis Fundamentals It\u2019s over for Cryptopia, the New Zealand cryptocurrency exchange that was hacked, losing an estimated $16 million. Most of those lost coins were Ethereum (ETH) and related ERC tokens. With no haircuts, investors, as well as the exchange\u2019s stakeholders, had to count losses severely affecting the liquidity position of the once vibrant exchange. Unfortunately for traders and investors, the repercussions took a heavy toll, and the crypto exchange is now in liquidation. Grant Thornton New Zealand, the official liquidator, made the announcement which was subsequently confirmed by Cryptopia,\u00a0 a few hours after the exchange went for unscheduled maintenance. David Ruscoe representing the liquidator, said: \u201cWe realize Cryptopia\u2019s customers will want to have this matter resolved as soon as possible. We will conduct a thorough investigation, working with several different stakeholders, including management and shareholders, to find the solution that is in the best interests of customers and stakeholders.\u201d Candlestick Arrangement However, price action points at a different picture. Reflecting resilience&#8211;and an on-demand asset, the second most valuable coin is 40.3 percent in the last week. It\u2019s up a massive 16.8 percent in the past 24 hours, matching the performance of Ripple (XRP) which is also on a solid uptrend. In line with our last ETH\/USD trade plan and development of the previous 24 hours, traders should fine-tune their positions in lower time frames as momentum build up. Already, hinting of underlying demand, bars are banding along the upper BB as it diverges from the 20-day MA. Concurrently, ETH bulls are cementing their position above $200, and in a bull breakout pattern, it is likely that prices will expand towards $250, our first target and later $300. However, our ultimate aim stands at $450 or Q2 2018 lows. Technical Indicator Affirming our stance is increasing participation levels. From late Apr-2019, transaction volumes have more than doubled from around 100k to 242k of May-14. That is an express indication of demand, the perfect building blocks that will feed the next wave of higher highs first towards $250, $300 and later $450. Chart courtesy of Trading View &nbsp;<\/p>\n","protected":false},"author":384,"featured_media":381725,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[19680,8323,1946],"class_list":["post-382461","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-cryptopia","tag-eth","tag-ethereum"],"acf":[],"yoast_head":"\n<title>Ethereum (ETH) Bulls Rebuff Cryptopia Liquidation, Race to $450?<\/title>\n<meta name=\"description\" content=\"Unfortunately, hackers wrecked Cryptopia and because they are in a hard position, they are winding up. 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His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto. The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance. His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry. Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion. Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers. DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations. Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature. When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills. You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.","sameAs":["https:\/\/www.linkedin.com\/in\/dalmas-ngetich-40a67a147\/","https:\/\/x.com\/Dalmas_Ngetich"],"url":"https:\/\/wncen.com\/author\/dalmasngetich\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Ethereum (ETH) Bulls Rebuff Cryptopia Liquidation, Race to $450?","url":"http:\/\/wncen.com\/news\/ethereum-eth-bulls-rebuff-cryptopia-liquidation-race-to-450\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ethereum-eth-bulls-rebuff-cryptopia-liquidation-race-to-450\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/shutterstock_1093435913-e33.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/shutterstock_1093435913-e33.jpg?fit=3000%2C2000"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Dalmas Ngetich"}],"creator":["Dalmas Ngetich"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["cryptopia","eth","ethereum"],"dateCreated":"2019-05-15T18:00:39Z","datePublished":"2019-05-15T18:00:39Z","dateModified":"2024-06-11T16:25:22Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ethereum (ETH) Bulls Rebuff Cryptopia Liquidation, Race to $450?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum-eth-bulls-rebuff-cryptopia-liquidation-race-to-450\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum-eth-bulls-rebuff-cryptopia-liquidation-race-to-450\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2019\\\/05\\\/shutterstock_1093435913-e33.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2019\\\/05\\\/shutterstock_1093435913-e33.jpg?fit=3000%2C2000\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Dalmas Ngetich\"}],\"creator\":[\"Dalmas Ngetich\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"cryptopia\",\"eth\",\"ethereum\"],\"dateCreated\":\"2019-05-15T18:00:39Z\",\"datePublished\":\"2019-05-15T18:00:39Z\",\"dateModified\":\"2024-06-11T16:25:22Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/shutterstock_1093435913-e33.jpg?fit=3000%2C2000","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/382461","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/384"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=382461"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/382461\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/381725"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=382461"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=382461"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=382461"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}