Ethereum, the second-biggest cryptocurrency, has seen its price fall nearly 13% after briefly touching $2,100. The drop comes as panic spreads over rumors that Binance might remove Ethereum from its platform. However, Binance’s former CEO, Changpeng Zhao (CZ), has shut down these claims, calling them completely false.
Binance’s New Listing Model Causes Confusion
The controversy started when Binance introduced two new community-driven features: ‘Vote to List’ and ‘Vote to Delist.’ These allow users to vote on which tokens should be added or removed from the platform.
Soon after, false news spread that Binance was planning to remove Ethereum. This sparked panic among investors, especially Binance users. Many feared that such a move could negatively impact ETH’s price.
CZ quickly responded, stating that anyone who believes the delisting rumors “deserves to be poor.” His comment was meant to assure the community that Ethereum remains supported by Binance.
Ethereum Price in Trumoil
Despite CZ’s clarification, Ethereum’s price has continued to drop. The cryptocurrency recently lost its support level at $1,900, and analysts now warn that it could decline further. If the downtrend continues, ETH may test the $1,750 level soon, and some experts even predict a possible drop to $1,500.
Still, some traders see this dip as a buying opportunity, if buyers step in around $1,500, ETH could regain strength and make another attempt to break the $2,000 resistance level.
At the moment, the Relative Strength Index (RSI) is below the neutral 40 mark, indicating that sellers have control.
