Ethereum risk reversal sunk by 20% on Tuesday following nervousness surrounding the recent crypto market crash. ETH liquidated long positions reached $67.37 million in the past 24 hours as short traders prevailed. Glassnode shared insights into the recent Ethereum issuance reduction proposal that has sparked criticism from the crypto community.
A side-effect of such a development would be the projects which issue these derivative tokens gaining an outsized influence over the governance and stability of Ethereum's execution and consensus layers, stated Glassnode. Technical analysis: ETH to trade below $3,301 Ethereum bears prevailed in the past 24 hours as its price has found it difficult to recover from the weekend slump.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: