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.
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