Ethereum Crash: The Binance Hacker Sits on 195,000 ETH. Is a Sell-Off Coming?

The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high degree of risk. Always conduct your own research.Ether fell 2.6% within an hour after the Binance hack. The bigger risk: about 195,460 ETH sit with the attacker and, unlike stablecoins, cannot be frozen. How big the selling pressure really is, which price levels matter and why Ethereum itself was not hacked.Ethereum is under double pressure after the suspected Binance hack. On Thursday night Ether fell from $2,313 to $2,251, down 2.6% within an hour. The bigger risk is still ahead: according to Etherscan about 195,460 ETH sit on an attacker address, worth more than $440 million at 21:25 UTC. Tether and Circle have frozen most of the stolen stablecoins, but Ether cannot be frozen. If the attacker sells, the price takes the hit directly. We calculate how large that pressure really is, which levels matter now and why Ethereum itself was not hacked. The full timeline of the evening is in our crypto crash timeline, the wallet details in our Binance hack report. Ethereum crash: what happened to the ETH price tonight Time (UTC)ETH pr...