Smart money keeps buying ETH despite possible fall to $2.400, Panama’s Crypto Law explained, Bored Apes Metaverse reigns on Twitter

Written by Pedro Lopez

May 1, 2022

Smart money keeps buying ETH despite possible fall to $2.400

Ethereum’s price has been dragged along a short-term bear market and expects  a price crash to the $2.400 level. However, smart investors keep adding ETH to their wallets before ETH 2.0 arrives.

Jarvis Labs (A Crypto Trading solutions company) delivered a deep analysis on the constant ETH accumulation from crypto whales,which shows how they have been buying in “a lateral-ascendant trend.”, as the company stated.

However, small wallets have also been responding to the low Ethereum prices, resulting in a lot of bullish expectations for the fusion. Also, Beacon Chain’s staking numbers are increasing at a consistent pace.

Panama’s Crypto Law explained

On April 28th, the National Assembly of Panama approved in third discussion the legislation that regulates the use of Bitcoin and other crypto-assets as a payment method in the country.

It indicates that only nine cryptocurrencies can be used in that country. In addition to Bitcoin (BTC) and Ethereum’s Ether (ETH), they include Ripple (XRP), Litecoin (LTC) and some less recognized altcoins like XDC Network (XDC), Elrond (EGLD), Stellar ( XLM), IOTA and Algorand (ALGO).

This bill will not make Bitcoin a legal tender as it happened in El Salvador but it does open the path for the people to accept crypto in their economy.

Bored Apes Metaverse reigns on Twitter

The BAYC (Bored Apes Yacht Club) acronym is everywhere on Twitter and thousands of users have jumped into extreme hype as the Otherside release date was approaching.

During the last week, NFT Development Company Yuga Labs announced an auction of 55,000 virtual plots of land from its Otherside metaverse, which was initially scheduled for today.

The ApeCoin token has quadrupled in price since its launch on March 17, reaching an all-time high of $26.19.

Also, the minimum sale price of Bored Apes NFTs reached a new all-time high by settling at 152 ETH (ETH), or almost $434,000 on the OpenSea non-fungible token market, according to The Block Research diary.

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