Ether price struggles to maintain support as regulatory challenges and network issues weigh
Cointelegraph
Published Apr 24, 2023 03:00PM ET
Updated Apr 24, 2023 04:40PM ET
The Ether (ETH) price has struggled to sustain the $1,850 support since April 21, the same level it held before the rally toward $2,100 initiated on April 13. Investors have reason to question whether there are buyers, considering the 13.5% price correction in six days and the $548 million in leveraged futures longs liquidated between April 19 and April 21.
Firstly, the regulatory environment seems to have gotten stricter for centralized exchanges. Dubai-based Bybit, for instance, announced that all users must complete Know Your Customer (KYC) identity verification for order execution and withdrawals. Before the May 8 update, non-KYC users had a monthly withdrawal limit of 100,000 USD Tether (USDT).
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Written By: Cointelegraph
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