Ethereum (ETH) Bulls Rebuff Cryptopia Liquidation, Race to $450?

Ethereum Daily Chart May 15

Ethereum (ETH) up 16.8 percentCryptopia liquidates after Jan 2019 lossBehind today’s 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 AnalysisFundamentalsIt’s 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’s 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, a few hours after the exchange went for unscheduled maintenance.David…

Read the original article here

IF YOU LIKED THIS ARTICLE CLICK SHARE