Ethereum News: Investors Eye $1,887 as Key Level Amid Market Decline

As the cryptocurrency market experiences a notable decline, Ethereum investors are seeing a buying opportunity. Here’s a summary of the latest developments and future targets for the second-largest cryptocurrency by market cap.

Ethereum Buy Signal? Investors Accumulate 1.63 Million ETH

In the past few days, the overall cryptocurrency market has experienced a notable price decline. Amid this, Ethereum (ETH), the world’s second-largest cryptocurrency by market cap, has reached a crucial level near $1,800 for the first time since 2023. Investors and long-term holders view this level as an ideal buying opportunity. A prominent crypto expert recently stated that the key level for Ethereum is $1,887, where whales and investors have accumulated 1.63 million ETH tokens.

Bybit CEO Addresses Ethereum Price Drop Below $1900

Bybit CEO Ben Zhou recently addressed the issue of a whale that liquidated millions of Ethereum (ETH), causing the price to drop to $1900. This event exposed possible weaknesses and highlighted the necessity of improved risk management systems in exchanges. Zhou explained the mechanics of liquidation and its impact on leverage practices in the crypto ecosystem.

Ethereum Launches New Testnet for Pectra Upgrade

Following two problematic tests, Ethereum’s CORE developers have decided to create a new testnet called Hooli to demonstrate the Pectra upgrade one final time before deployment. The test will take place on March 26, where the test chain will be upgraded to the new version of Ethereum and evaluated for performance and stability. Pectra includes several code changes designed to make Ethereum faster, more efficient, and more user-friendly.

Lazarus Group Transfers 400 ETH and Launches New Cyber Attacks

Lazarus Group, linked to North Korea, transferred 400 ETH ($750,000) to Tornado Cash and laundered $2.91 billion through THORChain in the last five days. They have also infected the NPM ecosystem with a harmful package called “BeaverTail” to steal credentials and access crypto wallets. Lazarus Group continues to launder crypto by moving different tokens and using fresh malware to attack developers and steal digital assets.