Ethereum Price Plummets 9% As Fed Chair Passes Hawkish Remarks

The crypto community has witnessed another price plunge after the just concluded Federal Reserve annual meeting. Many investors already anticipated a new turn in asset prices after Jerome Powell spoke on the approach to combat inflation.

Timeline of Ethereum

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There is no denying that Fed Chair Jerome Powell's speech about inflation on Friday (August 26) brought major pain to both U.S. stocks and crypto. The question is how much are his comments going to going the affect the $ETH price in the coming days/weeks.

Just like the traditional markets, the crypto markets reacted badly to yesterday's speech by Powell. Following the announcement of the continuation of the hawkish policy of the Federal Reserve, the market sentiment is bearish.

ETH developer addresses node centralization concerns before the Merge, it before the Ethereum switch from its current proof-of-work (PoW) mining consensus to a proof-of-stake (PoS) one. The Merge, as it is technically known, is scheduled for September 15, but in the run-up to the significant update, Ethereum node centralization has become a hot subject.

Binance will suspend ETH & ERC-20 deposits and withdrawals during the Merge, while the network transitions to its proof-of-stake Beacon chain in September (15th or 16 of September according to estimates) The move was made by the world's largest exchange by transaction volume in an effort to offer stability during ‘The Merge,' which is expected

In a Saturday blog post, the firm said it won't be able to maintain clients' assets on Ethereum 2.0 network. The post AntPool won't maintain client assets on Ethereum after The Merge amid ‘risk of censorship' appeared first on The Block.

Ethereum price analysis is bullish today as we have seen a strong drop and a lower low set at $1,500. However, sellers are likely exhausted now, meaning that a move higher should follow soon.

Ethereum (ETH) is in a downtrend and has recovered 50% as it trades between moving average lines. In short, the largest altcoin crashed and found support above the 50-day line SMA after the price collapse.

Coinbase has said it will list any potential Ethereum proof of work token after the Merge as long as it meets its listing criteria. The post Coinbase Will List Ethereum PoW Token if It Meets Listing Criteria appeared first on BeInCrypto.

Binance and Coinbase, two of the worlds largest crypto platforms, will be temporarily suspending Ether (ETH) and ERC-20 transactions sometime next month. The move is aimed at providing stability as the Ethereum network transitions from a Proof-of-Work (PoW) to a Proof-of-Stake (PoS) consensus mechanism also known as The Merge.