The cryptocurrency Ethereum (ETH) is experiencing increased competition as approximately $87 million worth of assets moved out of its system and into rival blockchains in the week following the repeal of a contentious DeFi regulation by former U.S. President Donald Trump. This shift represents renewed competitive pressure for Ethereum’s ecosystem.
According to a tasty tidbit from the gossipmongers at Fortune, a source so mysterious they’d probably whisper in a ghost’s ear insists Trump is cooking up a twist on Monopoly Go!, that mobile delight where one can buy properties without leaving one’s couch—or dignity behind. How very 21st century, darling.
Now, according to EGRAG’s profound (and probably heavily researched) analysis posted on the ultra-glamorous social media platform X, XRP is currently trying to hover just above the $2.10 level while gently dancing above the 21-week Exponential Moving Average (EMA). But wait—here’s where the magic happens: the real “I’ve made it” moment happens if XRP manages to close the week with a full-bodied candle above $2.25. Because who doesn’t love a full-bodied candle, right? 🍷
The frantic liquidation, according to TheMinerMag, was prompted by the not-so-charming backdrop of macroeconomic chaos. Apparently, the cryptocurrency world is not immune to the woes of financial markets, and companies have decided that their Bitcoin hoards are better off being sold to plug the holes in their ever-widening financial deficits. Funny how things never seem to be as stable as they look when the balance sheets start getting shaky.
Ahem, the itinerary for our little adventure: