This is The Next Target for ETH If the Drop Continues (Ethereum Price Analysis)

After a prolonged period of tranquil price activity near the critical level of $1.8K, there has been a significant and rapid downturn at ETH following a notable rejection. This sudden cascade has caused the price to drop below the 100-day and 200-day moving averages (MAs), indicating a bearish signal for the ETH market.

Timeline of Ethereum

A Chainalysis report says that the number of Ethereum (ETH) wallets accounts for the majority of crypto participants as of July 2023. While the number of Bitcoin (BTC) wallets grew to 50 million, ETH balance-holding addresses have risen to 79 million.

Ethereum climbed to $1,700 on Thursday following several days of nursing losses and nurturing support at $1,630. The bullish wave traversing the crypto market comes at a time when many investors are counting losses amid the promise of a bull run that currently seems nothing fairytale.

Although the application of the Howey test to staking Ethereum and many other cryptocurrencies can be complex and subject to different legal interpretations, the SEC insists that staking qualifies as an investment contract under the Howey test.

The price of Ethereum could reach $3,000 in the next crypto bull market and perhaps even as high as $10,000, according to a prediction by Google AI, Google Bard. However, there are also some risks that could prevent Ethereum (ETH) from reaching this level.

In a recent development that underscores the evolving landscape of cryptocurrency regulations in the United States, Bitstamp, one of the world's leading cryptocurrency exchanges, has announced that it will cease its ether (ETH) staking services for US-based customers by September 25, 2023.

One of the oldest crypto exchanges Bitstamp announced that it would discontinue ETH staking services for US customers starting September next month. The development comes amid the crackdown by the US Securities and Exchange Commission (SEC).

Key Points: Whales have been actively accumulating Ethereum ($ETH) from what appears to be the bottom of the market. Over the course of the past seven days, these investors collectively amassed a staggering 56.1K $ETH, equivalent to approximately $94 million.

Bitstamp, a long-standing cryptocurrency exchange, has announced its decision to discontinue Ethereum (ETH) staking services for its U.S. customers, effective September 25. The move comes as regulatory scrutiny from the U.S. Securities and Exchange Commission (SEC) intensifies around staking offerings in the crypto industry.

Crypto analyst Benjamin Cowen thinks Ethereum (ETH) has a long way to drop before it surges back up to new all-time highs. In a new YouTube video, Cowen restates his thesis that ETH will first need to return “home,” a term he uses to describe the asset's fair-value logarithmic regression trendline.

Crypto exchange Bitstamp will end Ethereum (ETH) staking services for U.S. customers within a month, according to a statement on Aug. 23. The company said: “Customers will continue earning staking rewards up until [Sept.