Ethereum News in Nigeria

Ethereum price prediction threads are heating up again as ETH drops below $3,000 after a sharp rebound from recent lows.

Ethereum is currently trading at $2,741.60, testing a key support zone with oversold technicals. A major whale accumulated 77,385 ETH worth $212M, signalling renewed confidence at current lows. Analysts say large-scale accumulation could mark the early stages of a potential rebound.

PANews reported on December 2nd that, according to Yu Jin, after his funds dwindled to only a few hundred thousand US dollars, Ma Ji injected another 250,000 USDC in the early morning to increase his ETH long positions. He currently holds approximately $7.54 million worth of ETH long positions, with an opening price of approximately $2,840 and a liquidation price of approximately $2,698. He has been continuously going long since October 11th and has incurred losses, accumulating a total loss of approximately $21.1 million.

PANews reported on December 2nd that, according to Onchain Lens monitoring, a whale converted synthetic Ethereum (SETH) into 10,176 ETH (approximately $28.69 million) after holding it for over 100 days, and transferred it all to the Kraken exchange. This address dates back five years, when it withdrew 21,086 ETH for $7.35 million, subsequently gradually flowing back to the exchange in batches.

PANews reported on December 2nd that, according to Onchain Lens, a wallet address suspected to belong to Bitmine or Sharplink Gaming received 7,080 ETH from FalconX, worth approximately $19.89 million. This address currently holds a total of 23,772 ETH, equivalent to approximately $66.77 million at market value.

The post Ethereum (ETH) Long Position Reaches 2,000 ETH at 25x Leverage as Huang Licheng Deposits USDC into Hyperliquid, Highlights $257k Unrealized Loss appeared on BitcoinEthereumNews.com. COINOTAG News, on December 1, citing Hyperinsight, reports that “Brother Ma” Huang Licheng deposited 249,847 USDC to Hyperliquid to scale his ETH long exposure, lifting leverage to above 25x. At press time, the position stood at 2,000 ETH, about $5.48 million, with an unrealized loss of $257,189 (-114.57%), while the liquidation price sits near $2,662. The move highlights how extreme gearing can magnify crypto exposure. The additional USDC liquidity supports a sizable ETH stake on Hyperliquid, but the current unrealized loss underscores the risk in highly leveraged crypto trading. With a liquidation price around $2,662, the position carries a tight margin for adverse price action, underscoring the need for disciplined risk controls in volatile markets. Source: https://en.coinotag.com/breakingnews/ethereum-eth-long-position-reaches-2000-eth-at-25x-leverage-as-huang-licheng-deposits-usdc-into-hyperliquid-highlights-257k-unrealized-loss

The post Huang Licheng’s Major Ethereum Long Position Liquidated appeared on BitcoinEthereumNews.com. Key Points: Huang Licheng’s key ETH long position liquidated at $2,792 for $1.11 million. Position reductions demonstrate high-risk trading volatility. ETH market sees ripple effects from significant whale activity. Prominent Ethereum trader Huang Licheng, known as ‘Brother Ma Ji’, experienced liquidation of his long ETH position on December 1 at $2,792, significantly affecting his portfolio value. This liquidation highlights the volatility in leveraged trading and impacts Ethereum prices, capturing investor attention and influencing future market dynamics for ETH and related DeFi tokens. Huang Licheng’s Major Ethereum Long Position Liquidated Huang Licheng, prominent in the cryptocurrency trading sphere, faced a recent liquidation of 400 ETH, valued at approximately $1.11 million at a price of $2,792. His remaining Ethereum holdings now stand at about $4.52 million. This movement comes amid strategic maneuvers involving substantial leveraged trades. Data analysis indicates that Huang’s financial strategies led to significant losses on Hyperliquid, where his previous $1 million deposit dwindled to just $140,000. This event marks another chapter in his trading history that highlights the precarious nature of leveraged positions in volatile markets like Ethereum. Huang Licheng’s ETH long position was liquidated for 400 ETH at $2,792, equivalent to approximately $1.11 million. – Yu Jin, On-Chain Data Analyst While official comments from industry leaders, such as Vitalik Buterin or regulatory bodies, remain absent, community discussions on platforms like Twitter frequently monitor such large-scale trader activities. Some market participants express concern over potential ripple effects, while others acknowledge his enduring influence in the crypto ecosystem. Market Impact and Regulatory Discussions Post-Liquidation Did you know? Huang Licheng previously managed Ethereum leveraged positions up to 8,400 ETH at 25x leverage, showcasing the profound impact such trades can have on market dynamics. According to CoinMarketCap, Ethereum (ETH) experienced a recent price downturn, currently trading at $2,804.99. With a market cap…

A new update from market analyst Ali (@ali_charts) outlines a clear dollar-cost-averaging strategy for Ethereum (ETH), identifying three major accumulation zones as the market continues to retrace from recent highs. That guidance comes amid rising volatility across the crypto sector, giving long-term investors a structured way to buy into the market. Analyst Maps Out ETH […]

The post Yearn Finance Recovers $2.4M after pxETH Exploit Incident appeared on BitcoinEthereumNews.com. Key Points: Yearn recovers $2.4 million after pxETH token exploit incident. Exploited on November 30 with notable recovery actions. Yearn Finance’s governance token saw price volatility. Yearn Finance has successfully recovered $2.4 million from a November 30 exploit targeting a legacy yETH pool, destroying pxETH held by hackers and reminting it to Redacted Cartel. The incident impacted ETH derivatives, prompted Yearn governance compensation actions, and drew DeFi community focus, yet core products remained secure, maintaining over $600 million TVL. Yearn Finance’s $2.4M Recovery Strategy after Exploit Yearn Finance executed a recovery strategy by destroying pxETH tokens acquired by hackers, subsequently reminting and returning equivalent amounts to the Redacted Cartel multisignature wallet. This quick response was crucial in minimizing potential long-term damage to the DeFi platform. “Approximately $2.4 million has been recovered by destroying pxETH held by the hackers and reminting them to the Redacted Cartel multisig wallet,” stated Yearn Finance in their official statement. Developer community and industry experts have responded mainly through social media platforms, expressing cautious monitoring of governance proposals and security patches. While there have been no official regulatory statements, community discourse remains focused on enhancing protocol security measures. DeFi Platforms Urged for Enhanced Security Measures Did you know? In previous similar cases, DeFi protocols experiencing infinite minting exploits often faced liquidity issues, but Yearn Finance’s swift fund recovery limited impacts compared to past incidents. Ethereum (ETH), currently priced at $2,793.58, holds a market cap of $337.17 billion, with a market dominance of 11.46%, following a substantial trading volume increase of 227.47% in the past 24 hours, according to CoinMarketCap. ETH prices saw a significant drop of 27.77% over 30 days. Ethereum(ETH), daily chart, screenshot on CoinMarketCap at 22:15 UTC on December 1, 2025. Source: CoinMarketCap Coincu’s research team highlights the need for DeFi platforms to focus…

The post Tom Lee’s BitMine Buys More Ethereum—But Both ETH and BMNR Are Diving appeared on BitcoinEthereumNews.com. In brief Bitcoin miner BitMine Immersion last week bought more ETH. The NYSE-listed firm now holds over $10 billion in the asset. But its stock—and the price of ETH—plunged on Monday. Bitcoin miner BitMine Immersion announced Monday that it had added more than $265 million in Ethereum to its treasury last week based on current prices, but the company’s stock plunged 12% as ETH and other crypto prices slumped.  NYSE-listed BitMine, which was trading at $29.10 per share after surging near $35 on Friday, said that it had bought 96,798 ETH.  The firm said that it currently holds 3,726,499 ETH, worth $10.1 billion and 192 Bitcoin worth nearly $16 million at today’s prices. BitMine added that it also had unencumbered cash of $882 million, and a $36 million stake in crypto treasury Eightco. BitMine’s stock is up 301% year-to-date, according to Yahoo Finance data.   ETH’s price is down by 9.7% over a 24-hour period, and was recently changing hands for $2,745 per coin. BitMine paid an average $3,008 for its Ethereum.  The asset is 45% below its August record of $4,946, although BitMine Immersion Chair and Fundstrat Global Advisors Managing Partner Tom Lee said in a statement that markets had stabilized after plummeting earlier this fall.  “We are now more than seven weeks past the October 10th liquidation shock event, meaning the crypto market has found its bearings again,” he said. “Collectively, we see these acting as positive tailwinds for ETH prices and thus, we stepped up our weekly purchases of ETH by 39%.” Crypto markets brutal October crash wiped out a record $19 billion in open interest.  During this price slump, crypto treasuries have come under new scrutiny. On Monday, Strategy, the largest company in the category, announced that it had formed a $1.44 billion U.S. dollar reserve…