Ethereum lending platform XCarnival confirmed a bad actor stole $3.8 million or 3,087 ETH. According to a report from on-chain security firm Peck Shield, a hacker exploited a vulnerability on the protocol’s smart contract by borrowing ETH and creating “multiple pledge orders to pledge BAYC (Bored Ape Yacht Club NFTs) many times”.

Data from Coingecko, at the time of writing, records a slight recovery for Ethereum and large cryptocurrencies. The second crypto by market cap has been trending to the downside over the past weeks and was seeing briefly breaking below $1,000 on certain venues.

ETH price makes no clear move with very limited price action. The current price action suggests bulls attempt to hold near the stable support level to set a base for the next round of buying conditions.

Ethereum price analysis is bearish today as we have seen a strong spike higher overnight and a reaction at the $1,900 major resistance. Therefore, ETH/USD will likely soon set another lower high and pivot lower from there.

Ethereum, the world’s largest altcoin, has seen unprecedented traction since its inception. Fair to say, the upcoming “Merge” has played a significant role in upping the associated interest in the crypto. ETH 2.0 is a multi-stage shift of the Ethereum network from a proof-of-work (PoW) to a proof-of-stake (PoS) consensus mechanism. The transition would enhance the network’s scalability, efficiency, and speed.

As Ethereum’s transition to proof-of-stake (PoS) gets closer and the network’s hashrate taps another all-time high, the Ethereum 2.0 contract is close to nearing 13 million ether worth $22.6 billion using today’s ether exchange rates. Moreover, according to a decentralized finance (defi) educator, the $22.6 billion worth of ethereum that continues to grow won’t be unlocked until another upgrade is enforced following The Merge.

Ethereum spiked below the $1,760 support zone. However, ETH remained well bid above the $1,720 level. A low was formed near the $1,734 and the price started a fresh increase.

Ether (ETH) is down 25% in just a month and even the recent upgrade to a proof-of-stake (PoS) consensus on the Ropsten testnet failed to move the altcoin’s price.

According to blockchain investigator Packshield, the hacker used a previously withdrawn pledged NFT from the Bored Ape Yacht Club collection as collateral to drain the assets.

Redditors discussed use cases that can drive up Ether’s value, from universal trustless authentication to decentralized autonomous organizations.

The seasoned trader who nailed Bitcoin’s more than 80% drop during the 2018 bear market is warning Ethereum investors that ETH could see a massive 70% devaluation from current prices.

UPDATE: Ethereum price dipped below the psychological $1,000 mark during the weekend, as bears continued to dominate price action on Saturday. The market took a turn on Sunday, though, as the whole crypto ecosystem was able to bounce back and several coins recovered key levels, with Bitcoin leading the way back above $20,000. ETH price was even able to recover above $1,100, where it is trading at the time of this update (Monday, 10 GMT). The celebration of Juneteenth in the United States on Monday will likely keep markets under calm waters for most of the day but, despite the recent bounce, ETH bears are likely to continue to push for another break below $1,000. Now the question is, where will Ethereum bottom out?

The inventor of Ethereum Vitalik Buterin and his father Dmitry “Dima” Buterin talked about the crypto market, volatility, and speculators. In an interview with Fortune Magazine Buterin claimed he is unbothered by ETH’s price downside action.

ETH price has stalled around the $1,100 level, but several data points suggest the altcoin’s sell-off is far from complete.

The DeFi protocol persuaded a hacker to return $1.9 million.

The second largest blockchain, Ethereum is going through a considerable upgrade — and is anticipated to make massive changes.

The owner, Chris Okada, says the building will be relisted in the coming days to adjust for ether’s 40% price drop.

ETH Price at the time of writing – $1,935.00 Whale sent $45,241,142 worth of Ethereum off Bitfinex 17.18% of the total supply remains liquid across all centralized exchanges An Ethereum (CRYPTO: ETH) whale sent $45,241,142 worth of Ethereum off Bitfinex.

Massive ETH holdings have been moved into exchanges as the shakedown continues for the Ethereum community. ETH holdings worth around $2.1 billion were transferred to exchanges over the past week with investors under increasing pressure. Ethereum has started the new month poorly and is down again after under-performing across May.