Ether (ETH) is struggling to maintain the $2,000 support as of Nov. 27, following its third unsuccessful attempt in 15 days to surpass the $2,100 mark. This downturn in Ether’s performance comes as the broader cryptocurrency market sentiment deteriorates, thus one needs to analyze whether
It’s possible that recent developments, such as the U.S. Department of Justice (DOJ) signaling potential severe repercussions for Binance founder Changpeng “CZ” Zhao, have contributed to the negative outlook.
In a filing on Nov. 22 to a Seattle federal court, U.S. prosecutors sought a review and reversal of a judge’s decision permitting CZ to return to the United Arab Emirates on a $175-million bond. The DOJ argues that Zhao poses an “unacceptable risk of flight and nonappearance” if allowed to leave the U.S. pending sentencing.
Ethereum DApps and DeFi face new challenges
The recent $46 million KyberSwap exploit on Nov. 23 has further dampened demand for decentralized finance (DeFi) applications on Ethereum. Despite being previously audited by security experts, including a couple in 2023, the incident has heightened concerns about the safety of the overall DeFi industry. Fortunately for investors, the attacker expressed willingness to return some of the…
