{"id":537015,"date":"2023-06-09T10:00:38","date_gmt":"2023-06-09T10:00:38","guid":{"rendered":"https:\/\/wncen.com\/?p=537015"},"modified":"2023-06-09T09:57:15","modified_gmt":"2023-06-09T09:57:15","slug":"heres-why-ethereum-could-be-at-risk-of-falling-to-1000-again","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/heres-why-ethereum-could-be-at-risk-of-falling-to-1000-again\/","title":{"rendered":"Here\u2019s Why Ethereum Could Be At Risk Of Falling To $1,000 Again"},"content":{"rendered":"

Ethereum is currently following the market trend of Bitcoin and continues to maintain above the $1,800 level. This price level is still bullish for the digital asset which is now only around 60% down from its all-time high. However, there is a threat to the stability that the digital asset has enjoyed so far which could send its price spiraling back down toward the $1,000 level.<\/p>\n

What Could Send Ethereum Back To $1,000?<\/h2>\n

This week, the United States Securities and Exchange Commission (SEC) brought lawsuits against top exchanges Binance<\/a> and Coinbase<\/a>, with more regulatory action expected to come toward crypto firms as time goes on. But one of the most important parts of the lawsuit was the SEC naming some cryptocurrencies as securities<\/a>.<\/p>\n

Related Reading: Cardano (ADA) Declines As Market Recovers Amid Security Charges<\/a><\/div>\n

The list which the regulator hinted was not exhaustive included the likes of Cardano (ADA) and Solana (SOL), among others. Interestingly, the SEC did not name Ethereum as a security despite the digital asset\u2019s status being a hot topic of debate over the last year.<\/p>\n

What\u2019s important about the cryptocurrencies that the regulator named is the fact that they are proof of stake (POS) networks, a mechanism which Ethereum transitioned to back in 2022. This has sparked speculation that while ETH was not listed as a security, it could very well be on the regulator\u2019s radar to do so in the future.<\/p>\n

If Ethereum does get listed as a security, the cryptocurrency could become a target for the SEC, which is already in a drawn-out battle with Ripple for the same allegations. When Ripple was sued back in 2020, the asset suffered a massive crash of up to 60% of its value. A repeat of such an event for Ethereum could easily see the digital asset fall to $1,000, and even lower.<\/p>\n

\"Ethereum<\/p>\n

ETH price resting above $1,800 | Source: ETHUSD on TradingView.com<\/a><\/pre>\n
However, the SEC has not made any indications of going after Ethereum. Right now, it seems to have its hands full with Ripple, Binance, and Coinbase, all of which have been vocal about fighting the regulator in court as they object to the charges brought against them.<\/p>\n
ETH Price Still Holding Firmly<\/h2>\n
Even amid speculations that Ethereum would end up being classified as a security, the token is still maintaining a bullish outlook in the mid to long-term. It is trading above its 100-day moving average of $1,758, which shows investors’ willingness to purchase the asset at prices higher than they did three months ago.<\/p>\n
Related Reading: Not Immune To FUD? Binance Sees $1.5 Billion In Outflows In 24 Hours<\/a><\/div>\n
As long as the bulls continue to maintain momentum, it is possible that ETH could continue to maintain above $1,800 before the next crypto market run-up begins. When this happens, Ethereum could easily clear the $2,000 level.<\/p>\n
At the time of writing, ETH is changing hands at a price of $1,839, down 0.35% in the last 24 hours with 1.22% losses on the weekly chart.<\/p>\n
Follow Best Owie on Twitter<\/a> for market insights, updates, and the occasional funny tweet\u2026 Featured image from iStock, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Ethereum is currently following the market trend of Bitcoin and continues to maintain above the $1,800 level. This price level is still bullish for the digital asset which is now only around 60% down from its all-time high. However, there is a threat to the stability that the digital asset has enjoyed so far which could send its price spiraling back down toward the $1,000 level. What Could Send Ethereum Back To $1,000? This week, the United States Securities and Exchange Commission (SEC) brought lawsuits against top exchanges Binance and Coinbase, with more regulatory action expected to come toward crypto firms as time goes on. But one of the most important parts of the lawsuit was the SEC naming some cryptocurrencies as securities. Related Reading: Cardano (ADA) Declines As Market Recovers Amid Security Charges The list which the regulator hinted was not exhaustive included the likes of Cardano (ADA) and Solana (SOL), among others. Interestingly, the SEC did not name Ethereum as a security despite the digital asset\u2019s status being a hot topic of debate over the last year. What\u2019s important about the cryptocurrencies that the regulator named is the fact that they are proof of stake (POS) networks, a mechanism which Ethereum transitioned to back in 2022. This has sparked speculation that while ETH was not listed as a security, it could very well be on the regulator\u2019s radar to do so in the future. If Ethereum does get listed as a security, the cryptocurrency could become a target for the SEC, which is already in a drawn-out battle with Ripple for the same allegations. When Ripple was sued back in 2020, the asset suffered a massive crash of up to 60% of its value. A repeat of such an event for Ethereum could easily see the digital asset fall to $1,000, and even lower. ETH price resting above $1,800 | Source: ETHUSD on TradingView.com However, the SEC has not made any indications of going after Ethereum. Right now, it seems to have its hands full with Ripple, Binance, and Coinbase, all of which have been vocal about fighting the regulator in court as they object to the charges brought against them. ETH Price Still Holding Firmly Even amid speculations that Ethereum would end up being classified as a security, the token is still maintaining a bullish outlook in the mid to long-term. It is trading above its 100-day moving average of $1,758, which shows investors’ willingness to purchase the asset at prices higher than they did three months ago. Related Reading: Not Immune To FUD? Binance Sees $1.5 Billion In Outflows In 24 Hours As long as the bulls continue to maintain momentum, it is possible that ETH could continue to maintain above $1,800 before the next crypto market run-up begins. When this happens, Ethereum could easily clear the $2,000 level. At the time of writing, ETH is changing hands at a price of $1,839, down 0.35% in the last 24 hours with 1.22% losses on the weekly chart. Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet\u2026 Featured image from iStock, chart from TradingView.com<\/p>\n","protected":false},"author":541,"featured_media":537037,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[8323,1946,15012,8686,78803,3799],"class_list":["post-537015","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-eth","tag-ethereum","tag-ethereum-security","tag-ethusd","tag-ethusdt","tag-sec"],"acf":[],"yoast_head":"\nHere\u2019s Why Ethereum Could Be At Risk Of Falling To $1,000 Again<\/title>\n<meta name=\"description\" content=\"Ethereum is currently following the market trend of Bitcoin and continues to maintain above the $1,800 level. 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Best is a highly skilled professional with a track record of producing engaging and informative content. With a keen eye for detail and a passion for accuracy, Best is committed to ensuring that each article published meets the highest standards of quality. Best has over six years of experience in the crypto industry and has overseen the creation and publishing of thousands of articles over the years. Best is always abreast of everything that is going on in the crypto industry in order to create and curate the most relevant content for readers. This shines through in Best\u2019s publications, which are always clear and concise, enabling easy reading and understanding for all. Best is also an avid learner and advocate for new technology. This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best\u2019s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community. Best\u2019s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information. Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best\u2019s prolific career in the media industry is a testament of how hard work and dedication pays.","sameAs":["https:\/\/www.linkedin.com\/in\/best-owie-41a150178\/","https:\/\/x.com\/https:\/\/twitter.com\/BestOwie"],"url":"https:\/\/wncen.com\/author\/owiebest\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Here\u2019s Why Ethereum Could Be At Risk Of Falling To $1,000 Again","url":"http:\/\/wncen.com\/news\/ethereum\/heres-why-ethereum-could-be-at-risk-of-falling-to-1000-again\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ethereum\/heres-why-ethereum-could-be-at-risk-of-falling-to-1000-again\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/06\/iStock-1094243102.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/06\/iStock-1094243102.jpg?fit=1238%2C848"},"articleSection":"Ethereum","author":[{"@type":"Person","name":"Best Owie"}],"creator":["Best Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["eth","ethereum","ethereum security","ethusd","ethusdt","sec"],"dateCreated":"2023-06-09T10:00:38Z","datePublished":"2023-06-09T10:00:38Z","dateModified":"2023-06-09T10:00:38Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Here\\u2019s Why Ethereum Could Be At Risk Of Falling To $1,000 Again\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/heres-why-ethereum-could-be-at-risk-of-falling-to-1000-again\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/heres-why-ethereum-could-be-at-risk-of-falling-to-1000-again\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/06\\\/iStock-1094243102.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/06\\\/iStock-1094243102.jpg?fit=1238%2C848\"},\"articleSection\":\"Ethereum\",\"author\":[{\"@type\":\"Person\",\"name\":\"Best Owie\"}],\"creator\":[\"Best Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"eth\",\"ethereum\",\"ethereum security\",\"ethusd\",\"ethusdt\",\"sec\"],\"dateCreated\":\"2023-06-09T10:00:38Z\",\"datePublished\":\"2023-06-09T10:00:38Z\",\"dateModified\":\"2023-06-09T10:00:38Z\"}<\/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\/2023\/06\/iStock-1094243102.jpg?fit=1238%2C848","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/537015"}],"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\/541"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=537015"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/537015\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/537037"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=537015"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=537015"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=537015"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}