RATE Group | ETH/USD sliding down on PlusToken liquidation concerns
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ETH/USD sliding down on PlusToken liquidation concerns

20 Dec ETH/USD sliding down on PlusToken liquidation concerns

Posted at 08:29h in Ethereum News by

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  • ETH/USD continues to moves away from the recent recovery high.
  • The coin’s price is affected by negative market sentiments.

Ethereum hit the recovery high at $134.50 and resumed the decline. At the time of writing, the second-largest digital asset is changing hands at $127.40, off the intraday low of $125.95. ETH/USD has lost about 1% of its value both on a day-to-day basis and since the beginning of the day. 

PlusToken woes

ETH has been on thin ice since Thursday due to the rumors that the founders of PlusToken Ponzi scheme have started to liquidate their ETH coins. As the Whale Alert service reported about 789,525 ETH tokens transferred from PlusToken wallet to an unknown wallet, many industry players were expecting a massive ETH dump.

These sentiments weighted on ETH in recent hours and pushed the coin towards the local support created by the lower line of the daily Bollinger Band under $126.00.

Binance sweetens the pill

The Malta-based cryptocurrency…

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