THELOGICALINDIAN - Ethereums Price Action Is Being Dictated by a Pyramid Scheme Investor
According to Dovey Wan, a founding accomplice at Primitive Capital, Ethereum’s amount activity is acceptable actuality dictated by a Ponzi scheme/pyramid arrangement alleged “Forsage”:
According to on-chain data, millions of dollars account of basic is actuality beatific to the Forsage contract. On average, $3.5 actor has been beatific to the affairs anniversary day over the accomplished two months.
Forsage purportedly is a archetypal crypto pyramid arrangement with a focus on the Phillippines. In fact, the Securities and Exchange Commission (SEC) of the nation has already issued a warning about the scam:
Wan believes that if this Ethereum pyramid arrangement collapses or slows that it would affectation the “biggest buck case for ETH” at the moment.
A address by a banker who analyzed the on-chain abstracts suggests the betray operators accept acquired $200 actor account of Ethereum over contempo months.
Strong Fundamentals Remain
Ethereum’s fundamentals abide strong, analysts say.
Real Vision arch controlling Raoul Pal remarked that while BTC is his primary advance at the moment, he is affection Ethereum at the moment and sees it potentially outperforming BTC:
His affect comes bottomward to decentralized finance. He has said on assorted occasions that this use case could actuate Ethereum acceptance abundant college than it is now.
